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Home My WebLink AboutR-94-0101- RESOLUTION NO. 94101 A RESOLUTION RELATING TO THE DEVELOPMENT OF M&M MAISON II ("PROJECT"), A 21 UNIT AF FORDABLE RENTAL HOUSING PROJECT PLANNED FOR DEVELOPMENT ON FORMER CITY -OWNED PARCELS LOCATED AT NORTHWEST 60TH AND 61ST STREETS BETWEEN 15TH AND 17TH AVENUES IN THE MODEL CITY NEIGHBORHOOD BY THE URBAN LEAGUE OF GREATER MIAMI, INC. AND GREATER MIAMI NEIGHBORHOODS, INC. ("SPONSORS"); AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, THEREBY MAKING A DEFERRED PAYMENT LOAN AVAILABLE TO SAID SPONSORS, IN AN AMOUNT NOT TO EXCEED $672, 100, FOR THE PURPOSE OF PROVIDING FINANCIAL ASSISTANCE FOR THE DEVELOPMENT OF THE PROJECT; ALLOCATING FUNDS THEREFOR FROM FY' 1992 HOME INVESTMENT PARTNERSHIP PROGRAM (HOME PROGRAM) FUNDS. WHEREAS, a severe shortage of low and moderate inoome housing exists in the City of Miami; and WHEREAS, the City Commission reoognizes the need for publio and private seotor participation to develop affordable housing for low and moderate inoome families and individuals, including the elderly; and WHEREAS, in April of 1991, representatives of the Urban League of Greater Miami, Ino. made a personal appearanoe before the City Commission to request oonveyanoe of five (5) paroels of vaoant land under the City and County ownership in the Model City CM cobawsraff a IrryTINC; OF FEB 17 1994 Resolution Na 94- 101 f Aah F neighborhood for the development of an affordable rental housing s project; and 4 j WHEREAS, pursuant to Resolution No. 91-309, adopted April 25, 1991, the City Commission approved in principle granting development rights to the Urban League of Greater Miami, Inc. for the development of a 21 unit townhome project on the subject parcels located at Northwest 60th and 61st Streets between 15th and 17th Avenues in the Model City neighborhoods; and WHEREAS, pursuant to Resolution No. 91-309, the City Commission established $95,000 as the reimbursement amount to be r paid by the Urban League of Greater Miami, Inc. to the City for its cost of site acquisition; and WHEREAS, the Urban League of Greater Miami, Inc. has secured preliminary financing through the Dade County Documentary Surtax Program in the amount of $598,500; and WHEREAS, pursuant to Resolution No. 92-633, the City Commission authorized the conveyance of the aforementioned publicly -owned parcels to this project sponsor; and WHEREAS, pursuant to Resolution No. 92-461, adopted July 16, 1992, the City Commission authorized the City Manager to accept $5,314,000 in federal assistance from the U.S. Department of Housing and Urban Development (HUD) in connection with the implementation of the City's FY 1992 Home Investment Partnership Program (HOME Program); and WHEREAS; pursuant to Resolution No. 92-461 the City Commission further authorized the implementation of the City ' I -2- 0 4- 101 ti HOME assisted Community Housing Development Organization (CHDO) Program and allocated $797,100 in HOME Program funds for said purpose; and WHEREAS, in order to expedite the construction of the proposed 21 unit rental housing project, it is necessary that the project sponsor secures $672,100 in financial assistance from the City; and WHEREAS, funding in the amount of $872,100 is available from the City's FY 1992 Home Investment Partnership Program; and WHEREAS, the City Administration recommends approval of the request of the Urban League of Greater Miami, Inc. and Greater Miami Neighborhoods, Inc. for financial assistance in the form of a deferred payment loan, in an amount not to exceed $672,100, for the development of a 21 unit rental housing project in the Model City neighborhood; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY The recitals and findings contained in the 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 authorized�to execute the necessary documents, in a form acceptable to the City Attorney, thereby making a deferred payment loan available to the 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 presoribed.by applicable City Charter and Code provisions. 94 101 -3- , Urban League of Greater Miami, Ino. and Greater Miami rR -Neighborhoods, Tno., in an amount not to exoeed $872,100, for the development of M&M Maison II, a 21-unit affordable rental housing } projeot planned for development on former oity-owned paroels looated at Northwest 60th and 61st Streets between 18th and 17ih Avenues in the Model City Neighborhood, with funds therefor hereby allooated from FY 1992 Home Investment Partnership Program (HOME Program). Seotion 3. This Resolution shall beoome effeotive immediately upon its adoption. PASSED AND ADOPTED this 17th day of February 1994 STEPAN P. CLARK, MAYOR ATTE MATT HIRAI, CITY CLERK COMMUNITY DEVV EN REVIEW: FRA K g4T&EDVI DIRECTOR DEPARTRENT OF COMMUNITY DEVELOPMENT BUDGETARY REVIEW: REVIEWED AS TO ACCOUNTING AND URY REQUIREMENTS: MANOHAR S. S �dL- CA E. GARCIA, DIRECTOR ASSISTANT CIT ANAGER DEPARTMENT OF FINANCE PREPARED AND APPROVED BY: APPROVED AS TO FORM AND i f CORRECTNESS: SEA F. JONES A. QfdItN q0pft, III t ASSISTANT CIT ATTORNEY CITY ATT EY -4- 9 4 - 101 CITY OF MIAMI, FLORIDA � INTER -OFFICE MEMORANDUM 38 TO :' DATE : 4 i9�d FILE Honorable Mayor and Members of the City Commission Resolution Relating.to SUBJECT Urban League of Miami/ Greater Miami Neighbor- hoods, Inc. Affordable I " FROM ; Ce8 i0 REFERENCES: TOwnhome Project CitA�er ENCLOSURES.: City CommissionAgenda Item February 17•, 1994 RECOMMENDATION: It is respectfully, recommended that the ,City Commission adopt the attached' resolution authorizing the; City Manager to allocate' $672,100 in FYI 1992 Home Investment Partnership. Program (HOME Program' funds to the Urban League of Greater Miami,' Inc and Greater Miami Neighborhoods, Inc. in connection with the development of a twenty one (21) unit low density rental 'housing project 'planned for construction on former city -owned 'parcels located between` Northwest 60th and 61st`Streets `between Northwest 15th'and'17th Avenues in the. Model City neighborhood The said $672 100'in HOME' Program.' funds will. be made in. the`form of a deferred payment loan to the aforementioned not -for -profit housing sponsors in connection with the, development' of the planned affordable housing project. 'BACKGROUND: The Department of Development and Housing Conservation recommends <,'ratification`of the attached resolution authorizing the City f Manager` to allocate $672,100 in FYI 1992 Home" Investment Partnership. Program funds to, the Urban League of Greater Miami, Inc and Greater Miami Neighborhoods,, Inc., in connection with the development of M&M Maison II, a twenty one (21) unit low density rental housing project, planned for construction on former city -owned parcels located at Northwest 60th and 61st Streets between Northwest.15th and 17th Avenues in'the.Model City ; neighborhood. , At the April 25, 1991 City Commission meeting, the City Commission through Resolution No. 91-309, approved in principle, the designation of the Urban League of Greater Miami, Inc., as the project sponsor for the development of a 21 unit rental housing project on publicly -owned parcels in the Model City neighborhood. Since April of 1991, the Urban League of Greater Miami, Inc. has been working diligently on moving the i construction of the proposed rental housing project forward. I OAIM 3 9 4 - 101 t