HomeMy WebLinkAboutR-96-0792�i
J-96-1327
10/24/96
RESOLUTION N� � 7 '^
A RESOLUTION GRANTING AN EIGHTEEN (18) MONTH
EXTENSION, FROM OCTOBER 24, 1996 TO APRIL 24, 1998,
TO FLORIDA HOUSING COOPERATIVE, INC., A NOT -FOR -
PROFIT CORPORATION, IN CONNECTION WITH THE
COMMENCEMENT OF CONSTRUCTION OF THE AFFORDABLE
HOUSING PROJECT TO BE LOCATED AT 1025 WEST
FLAGLER STREET, MIAMI, FLORIDA.
WHEREAS, pursuant to Resolution No. 91 -123, adopted February, 1991, the City
Commission authorized the City Manager to make available and to disburse $288,640 in
CDBG Program funding to Florida Housing Cooperative, Inc., for the acquisition of three (3)
parcels of vacant land located at 1025 West Flagler Street, Miami, Florida, in connection
with the development of an affordable housing project in the Little Havana neighborhood;
and
WHEREAS, pursuant to Resolution No. 91-123, the City Commission instructed the
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City Manager to incorporate provisions in the deed which would require that full title to
said parcels shall revert to the City of Miami, if building permits are not obtained and
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construction on the proposed housing project was not underway within twenty-four (24)
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months from the date funds were disbursed by the City; and
WHEREAS, pursuant to Resolution No. 93-189, adopted March 11, 1993, a twelve E
(12) month extension was granted to Florida Housing Cooperative, Inc., to commence
construction on the project; and
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CITY COMMISSION
MEETING OF
0 C T 2 4 1996
Resolution IVo.
9�n— "j92
WHEREAS, Florida Housing Cooperative, Inc., requests an eighteen (18) month
extension of this deadline to commence construction on the proposed project;
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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
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Section.
Section 2. An eighteen (18) month extension, from October 24, 1996 to April
24, 1998, in which to commence construction of an affordable housing project to be
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located at 1025 W. Flagler Street, Miami, Florida, is hereby granted to Florida Housing
Cooperative, Inc.
Section 3. This Resolution shall become effective immediately upon its adoption.
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i PASSED AND ADOPTED this 24th day of October, 1996.
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JOE CAROLLO, MAYOR
ATTEST: I
�Q—Li�Lic� I
WALTER J.
i
CITY CLERK
PREPARED AND APPROVED BY: APPROVED AS TO FORM AND
CORRECTNESS:
LINDA K. KEARSON A. bLJfNp JO E , III ?
ASSISTANT CITY ATTORNEY CITY A TOR 6Y
W 1331:CSK j
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2—
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FLORIDA HOUSING COOPERATIVE, INC.
900 SW 22TH AVENUE
MIAMI, FLORIDA 33135
TELEPHONE: (305) 649-9750
FACSIMILE NUMBER; (305) 649-5843
October 21, 1996
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Honorable Commissioner
i Mr. Thomas Regalado
l City of Miami
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Honorable Commissioner Regalado:
By this means, I am taking the liberty of requesting your help in the below described matter.
i I am taking this liberty as you have a reputation fro being interested in the housing problem in
Little Havana.
Pursuant to Resolution 91-123 the City of Miami gave a grant in the amount of $288,000
(approximately) to Florida Housing Cooperative, Inc. to purchase the lot located at 1025 West
Flagler Street for the development of cooperative housing units. Pursuant to that resolution the
warranty deed conveying the land to Florida Housing Cooperative, Inc. called for the land to
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revert to the City, if construction of the project did not commence within 24 months. Latter
pursuant to resolution number 93-189, a twelve month extension was granted to Florida Housing
Cooperative, Inc. Florida Housing Cooperative, Inc. was not able to meet this deadlines due to
to the denial of surtax funding the adequate funding within this period.
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Further, pursuant to resolution no.: 93-416, the City of Miami gave Florida Housing i
Cooperative, Inc. a purchase money mortgage to cover the outstanding mortgage on the lot and
to pay back taxes on the lot. This resolution contained provisions authorizing the City Manager
to accept the title in the name of the City during the interim period until the commencement of
construction, Title was never transferred to the City of Miami, as it appeared that Florida
Housing Cooperative, Inc. was going to be able to commence construction and transferring title
would interfere with the i availability of funding for the project. F
Currently, Florida Housing Cooperative, Inc. is in the preconstruction phase of development
for a scaled down 18 unit condominium apartments to benefit low to moderate income families.
Florida Housing Cooperative, Inc., is working of this project with the technical assistance of
Greater Miami Neighborhoods, Inc.
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96-
792
FJM
Page 2
Honorable Commissioner Regaled
October 20, 1996
Architectural plans have been completed, condominium documents are being prepared and
25 families are in the qualifying stage for the units. Further, Florida Housing Cooperative, Inc.,
has received a predevelopment grant in the amount of $90,000.00 from HOME funds; has been
awarded $594,000 in surtax funding. Also, Northern Trust Bank and Homes for South Florida
have
given letters of commitment to provide permanent and construction financing.
At this time in order to proceed with the project, the matter as to whom has legal title or
control over the lot; and the status of the mortgage loan must be settled. Therefore, by this
means Florida Housing Cooperative, Inc. is requesting that you support us in attaining eighteen
month period to commence construction before the title reverts back to the City. Also, a
statement or resolution stating that the mortgage loan will be paid back to the City upon
successful completion of the project.
Your help in this matter is greatly appreciated, and will serve to help in some small way f
alleviate the housing problem in the areas.
Sincerely yours, 4
r
CarEDsodri �Quesada
Presi