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Home My WebLink AboutR-93-0416J-93-456 6/28/93 RESOLUTION NO. 9 3 - 416 A RESOLUTION DIRECTING THE CITY MANAGER TO REALLOCATE AN AMOUNT NOT TO EXCEED $48,000 IN UNEXPENDED COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM FUNDS, FROM COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROJECT ENTITLED "HOUSING REHABILITATION PROGRAM ADMINISTRATION", FOR THE PURPOSE OF MAKING PAYMENT AND TO SATISFY OUTSTANDING DELINQUENT REAL ESTATE TAXES AND A PURCHASE MONEY MORTGAGE ON A PARCEL OF VACANT LAND LOCATED AT APPROXIMATELY 1025 WEST FLAGLER STREET, MIAMI, FLORIDA; FURTHER AUTHORIZING THE CITY MANAGER TO ACCEPT THE TRANSFER OF TITLE INTO THE NAME OF THE CITY OF MIAMI OF THE AFOREMENTIONED PARCEL FROM FLORIDA HOUSING COOPERATIVE, INC. IN THE INTERIM PRIOR TO THE COMMENCEMENT OF CONSTRUCTION OF THE PROPOSED HOUSING DEVELOPMENT. WHEREAS, pursuant to Motion No. 90-299, adopted April 12, 1990, the City Commission instructed the City Manager to allocate $300,000 of the Sixteenth Year Community Development Block Grant (CDBG) Program funding to Florida Housing Cooperative, Inc., in connection with the rehabilitation, construction and/or acquisition of an existing multifamily apartment building(s) or vacant land for the purpose of increasing the availability of cooperative housing in the City; and WHEREAS, pursuant to Resolution No. 91-123, adopted February, 1991, the City Commission authorized the City Manager {YYZ'Y CONJx vSSX0.V MEETING OF J UL 0 8 1993 Resolution No. 93- 416 to make available and to disburse $288,640 in CDBG funding in the form of a grant for the purpose of providing financial assistance to Florida Housing Cooperative, Inc. for the acquisition of three (3) parcels of vacant land located at 1025 West Flagler Street, in connection with the development of a forty (40) unit cooperative housing project; and WHEREAS, pursuant to Resolution No. 91-123, the City Commission instructed the 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 construction on the proposed housing project was not underway within twenty-four (24) months from the date funds are disbursed pursuant to said Resolution; and WHEREAS, pursuant to Resolution No. 93-189, adopted March 11, 1993, granted a twelve (12) month extension to Florida Housing Cooperative, Inc. to commence construction on the said cooperative housing project; and WHEREAS, on May 13, 1993, representatives of Florida Housing Cooperative, Inc. made a personal appearance to request financial assistance from the City of Miami to satisfy outstanding delinquent real estate taxes and a purchase money mortgage on the parcels located at 1025 West Flagler Street, Miami, Florida, in 1 the amount of approximately $42,000; and WHEREAS, the City Administration was directed to identify the source of city financial assistance available to satisfy the outstanding liens and encumbrances on the aforementioned parcels; and -2- 9 3 - 416 WHEREAS, funding is available from unexpended Fourth and Fifth CDBG Program funds from CDBG Project entitled "Housing Rehabilitation Program Administration" for the above mentioned purpose; and WHEREAS, the City Administration recommends approval and reallocation of the said funds to be provided in the form of a loan to Florida Housing Cooperative, Inc. in an amount not to exceed $48,000 to defray the cost of satisfying the outstanding delinquent taxes and purchase money mortgage for the parcels located at 1025 West Flagler Street, Miami, Florida; 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. The City Manager is hereby directed to reallocate unexpended CDBG Program funds, in an amount not to exceed $48,000, from CDBG Project entitled "Housing Rehabilitation Program Administration", for the purpose of providing financial assistance (Loan) to Florida Housing Cooperative, Inc. to satisfy outstanding delinquent real estate taxes and purchase money mortgage on the parcels located at 1025 West Flagler.Street, Miami, Florida. -3- 93- 416 Section 3. The City Manager is hereby authorizedl1 to accept the transfer of title into the name of the City of Miami the aforementioned parcel from Florida Housing Cooperative, Inc. in the interim prior to the commencement of construction of the proposed housing development by the project sponsor. Section 4. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 8th day of July , 1993. / XAVIER I�. j SUAREZ j) MA OETY IRAI CITY CLERK l� 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 provision. -4- 93- 416 COMMUNITY DEV ENT EVIEW: BUDGETARY REVIEW: FRAN CAST EDA, DI ECTOR MAN !AR SURANA COMMUNITY DEVELOPMENT DEPARTMENT ASS T T CITY MANAGER FINANCIAL REVIEW: CARLO GARCIA, DIRECTOR DEPART NT OF FINANCE PREPARED AND APPROVED BY: SEAN—" . J'ONEl ASSISTANT CI Y ITTORNEY APPROVED AS TO FORM AND CORRECTNESS: L�4 ".W, all " r A. QU 0 , III 1 CITY ATTOR SFJ:csk:M3711 -5 - 93- 416 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO. Honorable Mayor and DATE Members of the City Commission SUBJECT Ce dio FROM : Cl n ger K fXDR REFERENCES: ENCLOSURES �Fv JUN 2 81993 FILE : Resolution Directing City Manager to Reallocate $48,000 in CDBG Funding Florida Housing Cooperative, Inc. City Commission Agenda Item - July 8, 1993 It is respectfully recommended that the City Commission adopt the attached resolution authorizing the City Manager to reallocate an amount not to exceed $48,000 in unexpended Community Development Block Grant Program funds from CDBG Project entitled "Housing Rehabilitation Program Administration", for the purpose of providing financial assistance in the form of a loan to Florida Housing Cooperative, Inc. The said funds will be used to cover the cost of satisfying outstanding delinquent real estate taxes and a purchase money mortgage for a parcel of land located at 1025 West Flagler Street. The Department of Development and Housing Conservation recommends ratification of the attached resolution authorizing the City Manager to reallocate an amount not to exceed $48,000 in unexpended Community Development Block Grant Program funds, for the purpose of providing financial assistance in the form of a loan to Florida Housing Cooperative, Inc. At the May 13, 1993 City Commission meeting, representatives of Florida Housing Cooperative, Inc. made a personal appearance to request financial assistance from the City of Miami to satisfy outstanding delinquent real estate taxes and a purchase money mortgage on three (3) parcels of vacant land located at 1025 West Flagler Street. As a result, the City Administration was directed to identify City funds which could be provided as a loan to cover the cost of satisfying the delinquent real estate taxes in the amount of approximately $14,808 and $26,180.84 in principal and interest on an existing purchase money mortgage on the said parcels. City Commission ratification of the attached resolution is recommended. 93- 416