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Home My WebLink AboutR-92-0072J-92-132 2/4/92 RESOLUTION NO. A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING THE CITY MANAGER TO MARKET AND CONVEY TO QUALIFIED LOW AND MODERATE INCOME HOMEBUYERS TWELVE (12) NEW SINGLE FAMILY HOMES UNDER CONSTRUCTION ON CITY -OWNED PARCELS (MORE PARTICULARLY AND LEGALLY DESCRIBED IN THE ATTACHED EXHIBIT "A") IN THE COCONUT GROVE, MODEL CITY AND WYNWOOD COMMUNITY DEVELOPMENT TARGET AREAS IN MIAMI, FLORIDA, IN CONNECTION WITH THE CITY'S SCATTERED SITE AFFORDABLE HOMEOWNERSHIP DEVELOPMENT PROGRAM. WHEREAS, pursuant to Resolution No. 86-840, adopted October 23, 1986, the City Commission took a major step toward the resolution of the existing housing affordability gap in approving implementation of the City sponsored Scattered Site Affordable Homeownership Development Program, which has as its major objective the development of owner -occupied residential housing units at cost on an in -fill basis in the City's Community Development Target Areas; and WHEREAS, to date, the City has successfully developed and marketed to qualified low and moderate income homebuyers seven (7) new single family homes in the Model City neighborhood located at Northwest 57th Street and 15th Avenue, two (2) new .i single family homes in the Wynwood neighborhood located at 49 and 51 Northwest 35th Street, Miami, Florida, and four (4) new single y t 1 i 1t i a e. CITY CO:wi/iISSI0i1d Iro ruid OF ,,a FEB 13 1992 "1 9 IMSOLUTIOR Ro. family homes in the Allapattah neighborhood located at 1221 Northwest 26th Street, 779 Northwest 34th Street, 3247 Northwest 11th Avenue and 1111 Northwest 32nd Street, Miami, Florida; and WHEREAS, it is possible to construct and deliver new single _ family homes through the program to low and moderate income families at affordable monthly mortgage payments through the _ application of a tandem mortgage financing plan; and - WHEREAS, Citibank Federal Savings Bank and Northern Trust Bank of Florida, N.A. have tentatively agreed to provide first position homebuyer mortgage financing commitments for the twelve (12) homes under construction in the Coconut Grove, Model City and Wynwood neighborhoods; and WHEREAS, second position mortgage financing will be provided to each homebuyer by Metropolitan Dade County through the County's Documentary Surtax Program for the purchase of said homes; and WHEREAS, ratification of the said resolution will provide the City Manager authorization to market and convey to qualified low and moderate income families the new single family homes currently under construction in the Coconut Grove, Model City and Wynwood Community Development Target Areas under the City's Scattered Site Affordable Homeownership Development Program; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: i —i 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 is this Section. i -2- Section 2. Relative to the City of Miami Scattered Site Affordable Homeownership Development Program the City Manager, or his designee, is hereby authorized to market and convey to prospective qualified low and/or moderate income homebuyers the twelve (12) new single family homes under construction on City - owned parcels in the Coconut Grove, Model City and Wynwood Community Development Target Areas, which are respectively, particularly and legally described in the attached Exhibit "A". Section 3. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 13th day of February 1992. XAVIER L.-,S5AREZ, MAYOR ATT T . �-- MATTY HIRAI, CITY CLERK PREPARED AND APPROVED $Y: JO L E. MAXWELL CH EF ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: . Q I ES, III, CITY ATT EY JEM/db/osk/M2759 1205 EXIMIT "A" COCONUT GROVE COMMUNITY DEVELOPMEN-r TARGET AREA 1) PARCEL NUM131:R: 05-01 PARCEL ADDRI:,:;: 3455 Margaret. Street PROPERTY LEGA f, DESCRIPTION: Lot: 36 Delledouv i t le suhd i v i i. on P.13. B/150 FOLIO NUMBER: 01-4121-012-0400 2) PARCEL NUMBER: 05-03 PARCEL ADDRI.SS: 3794 Florida Avenue PROPERTY LEGAL DESCRIPTION: Lot: 20, 131ock: 1 MacFarlane Homestead P.13. 5/81 FOLIO NUMBER: 01-4120-006-0200 3) PARCEL NUMBI:I2: 05-09 PARCEL ADDRESS: 3322 William Avenue PROPERTY LEGAL DESCRIPTION: Lot: 15, Block: 29 Prow Homestead P.B. B/106 FOLIO NUMBER: 01-4121-007-4910 4) PARCEL NUMBER : 05-10 PARCEL ADDRL•'SS: 3643 Florida Avenue PROPERTY LEGA1. DESCRIPTION: 1,ot: 7, Block: 25 Prow IIoiReStead P.13. B/106 FOLIO NUMBER: 01-4121-007-3900 c _r EXllI13IT_"A"(continued) Coconut Grove _Targot_Area (continued) 5) PARCEL NUMI3I:It : PARCEL ADDRI:.',S: PROPERTY LEGAT, DESCRIPTION: FOLIO NUMIWIZ: 05-11 3780 ft ow Avenue kot: 20, Block: 2, MacFarlane lloine,te.id, P.11. 5/81 01-4120-006-0460 MODhL CITY COMMUNITY DEVELOPMENT TAIZGf 'P AREA 1) PARCEL NUMBER: PARCEL ADDRESS: PROPERTY LEGAL DESCRIPTION: FOLIO NUMBER: 2) PARCEL NUMBE.11: PARCEL ADDRESS: PROPERTY LEGAL DESCRIPTION: FOLIO NUMBER: 3) PARCEL NUMBER: PARCEL ADDRI,:;S : PROPERTY LEc;AI. DESCRIPTION: _ FOLIO NUMBER: 02-16 5550 Northwest 14th Avenue Lot: 1, Block: 3 i7range 'leights, P.B. 14/62 01-3114-035-0240 02-36 720 Northwest 52nd Stri�ot Lot: 4, Block: 3 Bowling Green, P.B. 5/101 01-3123-006-0291 0 2 -3 6 724 Northwest 52nd Street Bowling Green, P.3. 5/ 101 01-3123-006-0310 - 2 - i- - EXHIBIT "A- (continued) Model City Target. Area (continued) `- 4) PARCEL N1114131:;," 0 2- 4 9 PARCEL ADDRI';';: 13213 52ne1 ,;t:rort yZ- PROPERTY LI;(,A1, IMSCRIPTION: Lot: 10, Mock: B Orchard Villa l;xt., P.'1. 17/55 FOLIO NUMBER: 01- 1114-04 3-14 3 0 } .Y �7 5) PARCEL NUMBER: PARCEL ADDRI:;;;3: PROPERTY LEGAI, DESCRIPTION: FOLIO NUMBER: 02-52 1179 Nor t-hVA23t (>Otit SL-roet Lot: 22, Block : 2 No r thwood :3Llbd i v i:; ion P. i3 . 2 3/15 01-3114-025-0122 WYNWOOD COMMUNITY DEVIP, LOPt• ENT TARGET AREA 1) PARCEL NUMBER: PARCEL ADDRI:S;; : PROPERTY LEGA1, DESCRIPTION: FOLIO NUMBER: 2) PARCEL NUMBEk: PARCEL ADDRESS: PROPERTY LPGAI, DESCRIPTION: FOLIO NUMBER: ;1.1-07 38 No rth-au st 35th Street_ L:)t: 12, 131ock: o Wynwood Park, P.B. 5/23 01-3125-019-LU6O 04-02 42 Northwe.3t 35th Stree 4. Lot: 13, Block: 6 Wyciwood Park, P.B. 5/23 01-3125-019-1061 - 3 - _,. CA=10 CITY OF tv11AMl, FLORIDA =_ INTER -OFFICE MEMORANDUM — Honorable Mayor and Members TO DATE IY FILE �� 2 of the City Commission -- Resolution Authorizing �- SUBJECT Disposition of Scattered / Site Housing Units in v Model City, Coconut Grove — FROM: Cesar H. Odio REFERENCES and Wynwood ;gin City Manager ENCLOSURES City Commission Agenda - Items/February 13, 1992 `V '— RECOMMENDATION: — It is respectfully recommended that the City Commission adopt the attached resolution authorizing the City Manager to market and convey to qualified low and/or moderate income homebuyers, five (5) new single family homes in the Coconut Grove and Model City _ Community Development Target Areas, in addition to two (2) new single family homes planned for development in the Wynwood Community Development Target Area under the City's Scattered Site Affordable Homeownership Development Program. BACKGROUND: The Department of Development and Housing Conservation recommends ratification of the attached resolution authorizing the City Manager to market and convey to qualified low and/or moderate income homebuyers, twelve (12) new single family homes in the Coconut Grove (5), "Model City (5) and Wynwood (2) Community Development Target Areas, planned and/or under construction on City -owned parcels in connection with the City's Scattered Site Affordable Homeownership Development Program. The purchase price for the 3-bedroom 2-bath units is $59,900, inclusive of the City's cost for site acquisition. Citibank Federal Savings and Northern Trust Bank of Florida, N.A. naveagreed to provide first mortgage financing to the prospective twelve (12) homebuyers in the Coconut Grove, Model City and Wynwood neighborhoods. Second position mortgage financing will be provided to each homebuyer by Metropolitan Dade County through the County's Documentary Surtax Program for the purchase of the said homes. Using this tandem mortgage home purchase financing method, the City will be able to offer affordable homeownership opportunities to families earning less than 80% of median income, well within low and moderate income guidelines. The monthly mortgage payment of principal, interest, taxes and insurance for each prospective homebuyer is projected to range from $375-$425 per month. City Commission ratification of the attached resolution is recommended.