HomeMy WebLinkAboutR-96-0099J-96-196
2/28/96
RESOLUTION NO. 9 09
A RESOLUTION DIRECTING THE CITY MANAGER TO
EXECUTE ALL OF THE APPROPRIATE LEGAL
DOCUMENTS IN FORMS ACCEPTABLE TO THE CITY
ATTORNEY, TO EFFECTUATE THE DEVELOPMENT OF
THE WYNWOOD FREE TRADE ZONE COMPLEX UTILIZING
A $5.5 MILLION SECTION 108 LOAN GUARANTEE
FROM THE UNITED STATES DEPARTMENT OF HOUSING
AND URBAN DEVELOPMENT ("HUD").
WHEREAS, the City of Miami is committed to assisting the
Wynwood community in developing the Wynwood Free Trade Zone, a
project of the Wynwood Community Economic Development
Corporation; and
WHEREAS, pursuant to Resolution No. 95-860, adopted by the
City Commission on December 7, 1995, the City Manager was
authorized to enter into a Loan Agreement with Dade Foreign Trade
Zone, Inc. (""DFTZ"') as the developer of the Wynwood Free Trade
Zone Complex (the "Project") utilizing a $5.5 million Section 108
Loan Guarantee from the United States Department of Housing and
Urban Development; and
WHEREAS, on December 7, 1995, the City Commission also
directed the City Manager and Commissioner J.L. Plummer, Jr., as
the City Commission's representative, to negotiate the terms and
conditions of the Loan Agreement with DFTZ and to report back to
CITY COMMISSION
MEETING OF
FEB Z 9 1996
Reaolutia�t,1�
96- 99
the City Commission with a recommendation regarding said Loan
Agreement; and
WHEREAS, the Loan Agreement has been negotiated and all
issues pertaining thereto have been satisfactorily addressed; and
WHEREAS, in addition to the Loan Agreement there will be
other documents requiring execution by the City Manager to
finalize the financing for the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Manager is hereby directed!/ to
execute all of the appropriate legal documents, in forms
acceptable to the City Attorney, required to effectuate the
development of the Wynwood Free Trade Zone Complex utilizing a
$5.5 million Section 108 Loan Guarantee from the United States
Department of Housing and Urban Development ("HUD").
The herein direction is subject to compliance with all
requirements that may be imposed by the City Attorney,
including but not limited to those prescribed by applicable
City Charter and Code provisions.
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Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 29th
ATTEST:
WAL�IR
CITY CLERK
PREPARED AND APPROVED BY:
1
LIRDAIKELLY K ARS
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
A! QUgW J ES, I
CITY A EY
LKK/BSS/W656
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day of February 1996
STEP EN P. CLAIVK, MAYOR
96- 99
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO Honorable Mayor and Members DATE : January 17, 1996 FILE
• of the City Commission
sUWECT : DISCUSSION ITEM
FROM Ces REFERENCES
city r
ENCLOSURES:
w
Discussion in connection with Wynwood Community Economic Development
Corporation and the $5.5 million Section 108 Loan to be provided to DFTZ for the
development of the Wynwood Foreign Trade Zone.
96- 99 1