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Home My WebLink AboutR-95-0303J-95-284 4/3/95 RESOLUTION NO. 9 5- 3 Q 3 A RESOLUTION RELATING TO THE DEVELOPMENT OF APPROXIMATELY ONE HUNDRED TWO (102) UNITS OF AFFORDABLE HOUSING IN THE COCONUT GROVE, LITTLE HAVANA AND OVERTOWN NEIGHBORHOODS BY THE COCONUT GROVE LOCAL DEVELOPMENT CORPORATION, EAST LITTLE HAVANA COMMUNITY DEVELOPMENT CORPORATION, FLORIDA HOUSING COOPERATIVE, INC., AND BAME DEVELOPMENT OF SOUTH FLORIDA, INC. (CHDOs), RESPECTIVELY; AUTHORIZING THE CITY MANAGER TO ALLOCATE FUNDING FROM THE CITY'S FY 1994 HOME INVESTMENT PARTNERSHIP PROGRAM (HOME PROGRAM) AS STATED IN SECTION 2 OF THIS RESOLUTION, FOR THE PURPOSE OF PROVIDING PROJECT PRE -DEVELOPMENT SUPPORT AND CONSTRUCTION FINANCING TO EACH NEIGHBORHOOD BASED COMMUNITY HOUSING DEVELOPMENT CORPORATION (CHDO) IN CONNECTION WITH THE HOUSING UNITS BEING PROPOSED; FURTHER AUTHORIZING THE CITY MANAGER TO ENTER INTO INDIVIDUAL CONTRACTUAL AGREEMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, WITH THE AFOREMENTIONED CHDO's FOR THIS PURPOSE. WHEREAS, there exists in the City of Miami a severe shortage of affordable housing for families and individuals of very low, low and moderate income; and WHEREAS, the City Commission recognizes that participation of both the public and private sector is necessary to foster the development of housing affordable to very low, low and moderate income families and individuals in the City; and WHEREAS, in April, 1994, the City of Miami was awarded a Home Investment Partnership Program (HOME Program) grant in the amount of $3,757,000 from the U.S. Department of Housing and Urban Development for implementation of the HOME Program; and :Cr Y COMnSSION MEETING OF MAY n 9 1995 Resolution No. 95- 303 WHEREAS, pursuant to Resolution No. 94-404, the City Commission authorized the implementation of the City's HOME Assisted Community Housing Development Organization ("CHDO") Program and allocated $2,181,300 in 1994 HOME Program funds for the production of homeownership housing units in the City by not - for -profit corporation; and I N- I WHEREAS, approximately one hundred two'' (102) new r homeownership housing units are currently being planned for development by East Little Havana Community Development Corporation, Florida Housing Cooperative, Inc., Coconut Grove Local Development Corporation and BAME Development Corporation of P P P P South Florida, Inc.; and WHEREAS, the funds allocated under the HOME assisted CHDO Program are designed to provide financial assistance to assist, in part, in the development of new housing and/or acquisition/rehabilitation of the City's existing housing stock to be sponsored or owned by CHDO's; and WHEREAS, the Department of Development and Housing Conservation recommends approval of East Little Havana CDC, Florida .Housing Cooperative, Inc., Coconut Grove Local Development Corporation and BAME Development Corporation of South Florida, 1,nc.'s request for financial assistance under the City's HOME assisted CHDO Program -for the purpose of financing the development of one hundred two (102) new homeownership housing units in the City; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: 95- 393 -2- 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. Funding from FY' 1994 Home Investment Partnership Program grant is hereby allocated for the purpose of r providing predevelopment and/or project development related r funding to the following not -for -profit Community Housing Developing Organizations (CHDOs) listed below: i Community Housing Development Organizations i 1) East Little Havana Community Development Corporation 2) Coconut Grove Local Development Corporation 3) Florida Housing Cooperative, Inc. 4) BAME Development Corporation of South Florida, Inc. Amounts $1,200,000 $ 176,421 $ 90,000 $ 125,000 Section 3. The City of Miami is hereby authorized to execute individual contractual agreements, in a form acceptable to the City Attorney, with the Community Housing Development Organizations (CHDOs) listed in Section 2, for the amount specified. for each, for the purpose of providing project predevelopment and/or development related funding in connection with the development of one hundred two (102) units of homeownership housing in the City. 1 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. 05- 303 -3- 114:. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 1st day of _, 1995. _Vk o. 041j_ STEP EN P. CLERK, MAYOR ATTEST: C MA TY HIRA , ITY CLERK PREPAREDPREPARED AND APPROVED BY: 7 , LINDA KELLY EARSON ASSISTANT CITY ATT RNEY APPROVED AS TO FORM AND CORRECTNESS: P -4- 95- 303 I r CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM 47 TO : Honorable Mayor and DATE : MAR 2 ( 1995 FILE Members of, the City Commission SUBJECT : Resolution Relating to Development of 102 Units Homeownership Housing FROM : REFERENCES Cesa io City Commission Agenda City ger Item - April 13, 1995 JVENCLOSURES: RECOMMENDATION• It is respectfully recommended that the City Commission adopt the attached resolution related to the development of one hundred two (102) units of homeownership housing planned for development by BAME Development Corporation of South Florida, Inc., Coconut Grove Local Development Corporation, East Little Havana Community Development Corporation and Florida Housing Cooperative, Inc. in the City. The attached resolution authorizes the City Manager to allocate and disburse funding from the City's FYI 1994 Home Investment Partnership Program (HOME Program) as stated in Section 2 of the resolution, for the purposed of providing project predevelopment and/or construction financing to the aforementioned Community Housing Development Organizations (CHDOs), in connection with several housing projects planned in the City. The attached resolution further authorizes the City Manager to execute individual contractual agreements with each CHDO for the said purpose. BACKGROUND: The Department of Development and Housing Conservation recommends that the City Commission adopt the attached resolution authorizing the City Manager to allocate and disburse funding from the City's FYI 1994 Home Investment Partnership Program Grant to the aforementioned Community Development Organizations (CHDOs) as stated in Section 2 of the resolution, in connection with their efforts to develop one hundred two (102) units of homeownership housing in the City. The attached resolution further authorizes the City Manager to execute individual contractual agreements with each CHDO for the said purpose. 95- 303 �t� Honorable Mayor and Members of the City Commission Page 2 On June 9, 1994, through Resolution No. 94-404, the City Commission authorized the City Manager to accept a Home Investment Partnership Program (HOME Program) Grant in amount of $3,757,000 from the U.S. Department of Housing and Urban Development, for the development of housing affordable to very low, low and moderate income families and individuals in the City. Approximately $2,181,300 in FY' 1994 HOME Program funding has been earmarked to assist Community Housing Development Organizations (CHDOs) in financing the development of new homeownership housing units in the City. The Department of Development and Housing Conservation recommends funding in the stated amounts for the following CHDOs; Community Housing Development Organizations Amounts 1) East Little Havana Community Development $1,200,000 Corporation 2) Coconut Grove Local Development Corporation $ 176,421 3) Florida Housing Cooperative, Inc. $ 90,000 4) BAME Development Corporation of South $ 125,000 Florida, Inc. The East Little Havana Community Development Corporation proposal calls for the development of thirty-five (35) housing units on the following scattered sites in the East Little Havana neighborhood: Address No. Of Units 529-531 SW 2nd Street 12 condominiums 126 NW S River Drive 6 townhomes 311 NW S River Drive 7 townhomes 21 NW 9th Avenue 2 townhomes 652-660 NW 2nd Street 8 townhomes The $1,200,000 in HOME Program funds will be utilized by the East Little Havana Community Development Corporation to construct the housing units during the construction phase. Once construction has been completed, the City's funds will be converted into permanent second mortgages for the prospective homebuyers. 95- 303 0 Honorable Mayor and Members of the City Commission Page 3 The Coconut Grove Local Development Corporation proposal calls for the development of three (3) new single family homes on the following parcels located at: ,Address 3917 Washington Avenue 3618 Charles Avenue 3792 Prow Avenue The $176,421 in HOME Program funds will be utilized by Coconut Grove LDC to finance the construction of the three (3) new single family homes currently being planned in the Coconut Grove neighborhood. The Florida Housing Cooperative, Inc. proposal calls for the development of a eighteen (18) unit condominium project on three (3) vacant parcels located at 1025 West Flagler Street. The $90,000 in HOME Program funds will be used to defray the proposed project's soft cost which would include architectural plans, engineering, environmental survey, permitting, impact fees, etc. Lastly, the BAME Development Corporation of South Florida, Inc. proposal calls for development of twenty seven (27) new single family detached homes and nineteen (19) townhomes on several parcels of vacant land currently under city -ownership located at Northwest 6th and 8th Streets between Northwest 5th and 6th Avenues in the Overtown neighborhood. The $125,000 in HOME Program funds would be used to assist the organization in defraying the project's soft cost which include architectural plans, engineering, environmental survey, variance and zoning changes, permitting, impact fees, etc. In an effort to further promote the development of new affordable homeownership housing units in the City, City Commission ratification of the attached resolution is recommended. 95- 303 W