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Home My WebLink AboutR-96-05767 i i J-96-596 7/25/96 j RESOLUTION N0. 9 6 - 5 17 6 A RESOLUTION, WITH ATTACHMENTS, APPROVING IN PRINCIPLE, THE DESIGNATION OF THE HOUSING INITIATIVE GROUP, INC. & PALMETTO HOMES OF MIAMI, INC. AND WIND & RAIN, INC. ("PROJECT SPONSORS"), FOR -PROFIT CORPORATIONS, AS SPONSORS TO UNDERTAKE THE DEVELOPMENT OF SIXTEEN (16) NEW SINGLE FAMILY HOMES AFFORDABLE TO FAMILIES AND INDIVIDUALS OF LOW AND MODERATE INCOME ON FOURTEEN (14) CITY - OWNED VACANT PARCELS LOCATED IN THE COCONUT GROVE, MODEL CITY, AND EDISON/LITTLE RIVER NEIGHBORHOODS, WHICH ARE MORE PARTICULARLY AND LEGALLY DESCRIBED IN THE ATTACHMENT EXHIBIT "A", SUBJECT TO SAID CORPORATIONS PROVIDING EVIDENCE ACCEPTABLE TO THE CITY OF FIRM COMMITMENTS FOR PROJECT CONSTRUCTION AND PERMANENT FINANCING; DIRECTING THE AFOREMENTIONED PROJECT SPONSORS TO FINALIZE HOUSING PLANS AND SPECIFICATIONS, CONSTRUCTION AND PERMANENT FINANCING, AND CONSTRUCTION SCHEDULE FOR COMPLETION WITHIN TWELVE (12) MONTHS FROM THE DATE OF CONVEYANCE; ESTABLISHING A RANGE OF $3,250 TO $4,150 AS THE MAXIMUM REIMBURSEMENT AMOUNT TO BE PAID TO THE CITY OF MIAMI FOR SAID PARCELS FOR COST OF SITE ACQUISITION BASED ON FIVE (5%) PERCENT OF SELLING PRICE FOR THE PARTICULAR HOUSING MODEL TO BE DEVELOPED; AUTHORIZING THE CITY MANAGER TO EXECUTE THE APPROPRIATE LEGAL DOCUMENTS, IN FORMS ACCEPTABLE TO THE CITY ATTORNEY, CONVEYING SAID PARCELS, SUBJECT TO CERTAIN TERMS AND CONDITIONS. WHEREAS, there exists in the City of Miami, a severe shortage of housing within the affordability range of families and individuals of low and moderate income; and i ATTACHME[,!T (S) CONTAINED CITY COMMISSION MEETING OF J U 1 2 5 1996 Resolution No. 96- 576 i i WHEREAS, the City Commission recognizes that participation of both the public and private sector is necessary to foster the development of housing affordable to low and moderate income families and individuals in the City; and WHEREAS, in an effort to promote the development of affordable housing in the City, the City Administration recommends the granting of development rights to Housing Initiative Group, Inc., & Palmetto Homes of Miami, Inc. & Wind & Rain, Inc., for the development of sixteen (16) new single family homes on the city -owned parcels, subject to certain terms and conditions; 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. Housing Initiative Group, Inc., & Palmetto Homes of Miami, Inc., a for profit corporation, is hereby designated, in principle, as Sponsor to undertake the development of ten (10) new single homes affordable to low and moderate income families and individuals on several vacant City -owned parcels located in Model City, and Edison/Little River neighborhoods, more particularly described in Exhibit A, subject to said corporation providing evidence acceptable to the City of firm commitments for project construction and permanent financing. Section 3. Wind & Rain, Inc., a for profit corporation, is hereby designated, in principle, as sponsor to undertake the development of six (6) new single homes affordable to low and moderate income families and individuals on five (5) vacant city -owned parcels located in the Coconut Grove neighborhood, more particularly described in Exhibit "A", subject to said corporation providing evidence acceptable to the City of firm commitments 1) 96- 576 for project construction and permanent financing. City Commission approval of said sponsor is subject to the development of a housing unit comparable to those units being proposed by Housing Initiative Group, Inc., & Palmetto Homes of Miami, Inc.'s proposal at a selling price of $2,000 less and final review and approval of the housing plans and specifications by the City Commission at a later date. Section 4. Housing Initiative Group, Inc., & Palmetto Homes of Miami, Inc., and Wind and Rain, Inc. are hereby directed to prepare and finalize housing plans and specifications, construction and permanent financing, construction schedule for the obtaining of building permits within six (6) months and construction to be completed within twelve (12) months from the date of conveyance. Subject parcels to revert back to the City if construction is not completed within twelve (12) months from the date of this action. Section 5. The City Commission hereby establishes a range of $3,250 to $4,150 as the maximum reimbursement amount to be paid to the City of Miami for said parcels for its cost of site acquisition, based on five (5%) percent of the selling price for the particular housing model to be developed by both Project Sponsors, subject to certain terms and conditions. Section 6. The City Manager is hereby authorized' to execute the appropriate documents, in forms acceptable to the City Attorney, conveying said parcels, more particularly and legally described in the attached Exhibit "A", to the Housing Initiative Group, Inc. & Palmetto Housing of Miami, Inc. and Wind and Rain, Inc., Sponsors. The acquisition amount for said parcels to be paid the City, shall be placed in the form of a first or second mortgage lien and satisfied at the consummation of each purchase transaction. 1 The herein authorization is further subject to compliance %vith all requirements that may be imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions. 3 96- 576 or second mortgage lien and satisfied at the consummation of each purchase transaction. Subordination of said lien shall be subject to review and acceptable by the City Manager of any further financing provided for the development of the proposed single family homes. Section 7. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 25th day of Jam, 1996. ATTEST: "WALTiER,(it,N, CITY CLERK PREPARED AND APPROVED BY: LINDA KELLY KEARSON, ASSISTANT CITY ATTORNEY J ROLLO, MAYOR APPROVED AS TO FORM AND CORRECTNESS: 0 96 - 5 EXHIBIT "A" PARCEL NO, ADDRESS LOT SIZE LEGAL DESCRIPTION 02-62 1532 NW 41 Street 50 x 100 Cedar Hurst Sub. PB: 11-18, Lot 5 02-60 1560 NW 51 Street 50 x 112 Fair Haven Gardens, PB: 6-76, Lot 9, Block 2 22-01 1275 NW 58 Street 50 x 106 Orchard Villas Extension PB: 17-55, Lot 26, Block 10 05-06 3664 Oak Avenue 50 x 100 Frow Homestead, PB: B-106, Lot 10, Block 15 05-12 3425 Frow Avenue 100 x 100 Frow Homestead, PB; B-106, Lot: 15 & 16 Block 13 05-14 3461 Elizabeth Street 75 x 124 Dehedouvilles, PB: 13-150,Lot 61 05-17 3648 Oak Avenue 50 x 100 Frow Homestead, PB: B-106, Lot 8, Block 15 05-18 3152 Plaza Street 60 x 110 Carters Addn to Coconut Grove, PB: 2-101, Lots 11 & 12 07-07 321 NW 49 Street 50 x 144 Buena Vista Heights PB: 3-64, Lot 22, Block 25 96- 07-13 255 NW 51 Street 50 x 144 Railway Shops Add 2nd AMD.PB: 3-183, Lot 6, Block 6 07-17 270 NW 41 Street 50 x 105 Bay Vista Park, PB: 5-47, Lot 9, Block 31 07-34 413 N.W. 51 Street 50 x 144 Railway Shops ADD 2nd AMD, PB: 3-183, Lot 16, Block 19 07-35 520 NB 63 Street 50 x 120 North Gate, PB: 8-88, Lot 3, Block 10 02-70 946 NW 45 Street 160 x 107 Taylors Sub. PB: 24-65, Lots 7, 8 & 9, Block 1 96- 576 CARLOS F. SMITH, ACM Fax:16-2159 Jul 3 '96 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM He To of FROM city able V"ira-Mayor and Members City Cominisssion 9 : 52 P. 01,106 ►� 9 DATE ` JUL 3 ` 1996 "LZ • SUBJECT : Resolution ApMvicsg Affordable Housing proposal - Jose Aleman REFEAENCES :City Commission Age n& Item My 1.1,1996 ISNC MPIES ; It is y recoamaeadad that dx City Commission adopt the attaciwd resolution app ving in principle, the desipelion of the Housing Initiative Group, Inc. and P tto How of bfiami, 1=. (" Fmject 5ponwr"), a for profit corporation, as sponsor to unde4Wm the development of approximately sixteen (16) new single family homes on fo (14) pamals of vacant land under city-flvv>ss nWp, located in the Coconut Grove, e River and Model City nesghbodwotls. The . }zed resglution further emblbbcs S92,075 or My percent (5U9/e) of the City's cost ( 184,156) for she acquisition as the reimbursement amount to be paid to the City by l~Z) Irtiti &e Group, Inc. and Pahxnetto Homes of Miami, Inc., for the of honed city -owned parcels where the proposed housing tanks will be const= cd. The a had resolution further authorizes the City Auger to execute the appropriate legal 00cuments for conveyance of the subject parcels, subject to certain term and fit th Agtil 251 1996 City Commission meeting, a proposal for the developmemt of e: housing miss on vacant, ci owned parcels was presented fur City C ssion review by W. Yost Aleman, a represeetstive of Housing Initiative Group, Inc., d Palmetto Hornas of Miami, I=, (Para =hip). As a result, the, City Caumtissi®n the City Ad;agiinistra an to meet with Mr. Aleman and to return with a re lotion far City CaM=i351on approval Or disapproval. Based Mf, J• l,=M zn's propo a, the rship would design, c+austruct and Carryout the tinglsale acdvidw in mnnoc4on with the new single f>rmxily homes being propo d can various city -owned parcels in the CiVs CD target areas. The new single familry es Would be targeted for very low, lore and moderate income families. 96- CARLOS F. SMITH, ACM Fax:1--05-416-2159 .7ul s '96 9.53 P.02/06 Tb4 Ronorabic Vice -Mayor abd Me4bcrs of the City Commission Base on Mr. Aleman's proposal, the Partnership would design, construct and carryout the i aark-eting/salc activities in connection with the new single family homes being pre sod on various city -owned parcels in the City's CD target areas. The now single fami y homes AvWd be targeted far very low, low and moderate income families. The Parbacrship would operate as a "for profit" developer in acquiring city -owned sites, designing and constnicting between 40.60 new single family homes per year, based on the availability of suitable bnusiug sites. Mr. *leman's proposal recommends unit distribution and the proposed selling prices per mod 1 as follows: Unit 52ftg price "A" 8-12 Units 3 bedroorall bats 1,215 sq. & $66,990 "B" 12-18IJztits 3 be&oomn baths 1,215 sq.1 $69,000 "C" 12.19 Units 4 bedroom?2 baths 1,474 sq. ft. $79,990 "D" 8-12 Units 3 bedrooaal2 bat mMunfly room. 1,538 sq. ft. $82,990 Ivlt. 419tman's proposal fuuther stipulates that the City of Miami would be scimbu sed for its cc 't of site acquisition at five (5%) percent of the proposed selling price for each new ,qirigli family home oonstrucred. TU proposed total site reimbaarsoaaent to the City of per model type (!some) would be as !allows. "A" - $73,2/5�/0� "C" - S ,1NV {try„ - $4J 50 The #uncing scenario being proposad by the Partnership forundaU&ing this proposal req ' the ParuwsWp to provide all start-up ftmding, soft cost and eonstructiaa for the eoustmctittn of the new homes. The Partwohip would also provide p t first mortgage financing of up w forty (40%) pm=W of the purchase price or 3Q,0 $ whichever is less to tz prospective, hotnebuyers. Mr. Alemsn's proposal also ells the City of Nfiami's patticipation in providing "soft" second mortgages to each pmspc Gfive homebuyer through the City's Home uuYor SHIP Programs. Sub uently, on May 16,1996, the ?ET/Housing Division staff and the City Attomey's office with W Aleman to further discuss his proposal. At that meeting, City staff expres ed the possibility of making available approximately 10.15 home sites as a pilot 96- 57 CPFIDS F. SMITH, ACM Fax:l-3C5-416-^159 _7u1 : ,9C 9:5--, P.03./06 1 i� { Xeonomble Vice -Mayor And hers of the City Commission S" the mid-I9t's, the City of Miaani has undertaken an aggressive Effort to exgsnd the pply of housing affordable to low and moderate incomo fhi nWes and individuals thro the cooperative efforts of city government, not -for -profit Corporations and private 1 financial katiuurdons. Through th; City Affordable Housing Development Program, ft ity has made available publicly owned development sites at a write -down, to various noi-prafst developers andlor neighborhood based community development AfthhUA ft above mentioned has bean the City of Miami's affordable housing strategy lie me the developmem of new housing resources in the City over the past ten (10) ection 29 B of the City Charter a:ud Codes, does not prat hide d= City of Miami ldrag av ilttblo a convdyiug city-awmcd petrels targeted for the development of housing units, to A private -far -profit developer. 'lnc.- attwhed resolution dmpales the Housing Initauve droop, Inc., and Palux= H ai' Miami, Inc., as spun= and dh=ts the Pa txxship to prepare final hosing plan, i and specifications, coash uc on and permmm, t finmeing, in addition to a com ziction achcdulc for the completion of the new'single family homes within iw4ve (12)lmonths fmm the date of this action. The ad resolution fv�er established S92j078 or fifty (5011Yo) pere=t of the City's cost ar site acquisition as the =ount to be zeimbuU A d to the City by the PsrtnersWpr. In the eat that the Partm'ltip is unable to commence or complete the cowbuction of the h s within twelve (12) months fmm the date of this action, tha subject pals will re back to the City. It addition, the attached resolution further requires that the set as a goal, the reorvstion of approxiznA y fik (50OYa)1arof the pro sed housing units to be made available for purchase by City of Miamiemployees esire to live in the City. The City is in a position to assist the private swtoir in the development of new hom ownmship housitu& affordable to low and modam inaom families in the Coco= Groie, EdisoaUttle River and Model City neighborhoods, by making fouatmca (14) pua s of vacant land curreatly under city -ownership, available for such development. In au a Umpt to futthcr promote the development of new single family hames in the aftmnumfoned neighbmhoods, it is respectfully requested that ft City Commission the Oohed resolution. 96- 576 �