HomeMy WebLinkAboutR-95-0060In
d-95-73
1/4/98
RESOLUTION NO. V
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE A LOAN AGREEMENT, IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, WITH OLYMPIA
BUILDING PARTNERS, LTD., IN AN AMOUNT NOT TO
EXCEED $800,000, SAID LOAN TO BE USED IN THE
REDEVELOPMENT OF THE OLYMPIA BUILDING,
LOCATED AT 174 EAST FLAGLER STREET, MIAMI,
FLORIDA; ALLOCATING FUNDS THEREFOR FROM THE
CDBG-ASSISTED MULTI -FAMILY REHABILITATION
LOAN PROGRAM.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The City Manager is hereby authorized/ to
execute a loan agreement, in a - form acceptable to the City
Attorney, with Olympia Building Partners, Ltd., in an amount not
to exceed $600,000, said loan to be used in the redevelopment of
the Olympia Building, located at 174 East Flagler Street, Miami, ,
Florida, with funds therefor hereby allocated from the CDBG -
Assisted Multi -Family Rehabilitation Loan Program.
Section 2. This Resolution shall become effective
immediately upon its adoption.
The herein authorization is further 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.
PASSED AND ADOPTED this day of , 1995.
STEPHEN P. CLARK, MAYOR
ATTEST:
NATTY HIRAI
CITY CLERK
PREPARED AND APPROVED BY:
.Oo�6e?:�
LINDA KELLY KEARSON
ASSISTANT CITY A RNEY
APPROVED AS TO FORM AND
CORRECTNESS:
"' f.2, ,i6"l ,, �4d
A'. QU7NN J04Eg, III
CITY ATTORNEY
LKK/pb/bss/N4S73