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HomeMy WebLinkAboutR-92-0770J-92-878 12/7/92 RESOLUTION NO. 9 2- 770 A RESOLUTION, WITH ATTACHMENTS, RELATING TO THE DEVELOPMENT OF A 21-UNIT AFFORDABLE RENTAL HOUSING PROJECT PLANNED FOR DEVELOPMENT ON CITY -OWNED PROPERTY LOCATED AT 2055 NORTHWEST 3RD AVENUE (THE "PARCEL") SITE BY THE ST. JOHN COMMUNITY DEVELOPMENT CORPORATION (A NOT -FOR -PROFIT CORPORATION); RATIFYING, APPROVING AND REAFFIRMING RESOLUTION NO. 92-304, ADOPTED MAY 14, 1992, WHEREBY THE MIAMI CITY COMMISSION APPROVED, IN PRINCIPLE, THE AFOREMENTIONED NOT -FOR - PROFIT CORPORATION AS THE PROJECT SPONSOR TO UNDERTAKE THE DEVELOPMENT OF A LOW DENSITY RESIDENTIAL PROJECT TO BE LOCATED ON SAID PARCEL; ESTABLISHING $20,000 AS THE ACQUISITION AMOUNT TO BE PAID TO THE CITY BY THE PROJECT SPONSOR; AUTHORIZING THE CITY MANAGER TO EXECUTE THE APPROPRIATE LEGAL DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR CONVEYANCE OF THE PARCEL, WHICH IS MORE PARTICULARLY AND LEGALLY DESCRIBED IN THE ATTACHED EXHIBITS "A" AND "B", TO THE ST. JOHN COMMUNITY DEVELOPMENT CORPORATION; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE A MEMORANDUM OF AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI AND ST. JOHN COMMUNITY DEVELOPMENT CORPORATION IN CONNECTION WITH THE PROPOSED HOUSING PROJECT. WHEREAS, in the City of Miami, a severe housing shortage exists within the affordable range of low and moderate income families and individuals; and WHEREAS, the City Commission recognizes that participation of both the public and private sectors is necessary to further aV--4• , - ATTACHMENT S) CONTAINED CITY commSSION MEETING OF. DEC 1 0 M2 ResolutWa No. 92- 770 .:=,1 16 4 the development of housing in the City of Miami within the affordable range of low and moderate income families and individuals, including the elderly; and WHEREAS, pursuant to Resolution No. 91-337, adopted April, 1991, the City Commission authorized the City Manager to negotiate the acquisition of a vacant parcel of land located at 2055 Northwest 3rd Avenue in the Overtown neighborhood for $40,000 in connection with the development of housing affordable to low and moderate income families; and WHEREAS, in May, 1992, representatives of the St. John Community Development Corporation made a personal appearance before the City Commission to request development rights to the City -owned property located at 2055 Northwest 3rd Avenue in connection with the development of a low density residential housing project affordable to low and moderate income families and individuals; and WHEREAS, pursuant to Resolution No. 92-304, adopted May 14, 1992, the City Commission approved, in principle, the designation of the St. John Community Development Corporation, a not -for -profit corporation, as sponsor to undertake construction of a low density rental housing project on the aforementioned City -owned parcel; and WHEREAS, the St. John Community Development Corporation has secured approximately $740,682 in oonstruotion financing from Homes for South Florida, in addition to $598,500 in oonstruotion and permanent financing from Metropolitan Dade County through the County's Documentary Surtax Program and $1,079,581 in low income tax credits from the State of Florida; and -2- 92- 770 WHEREAS, it is imperative that the subject parcel be conveyed to the project sponsor in oonneotion with the proposed housing project on or before December 31, 1992; 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 Commission hereby ratified, approves and reaffirms Resolution No. 92-304, adopted May 14, 1992, wherein the City Commission approved, in principle, the designation of the St. John Community Development Corporation (a not -for -profit corporation), as the project sponsor to undertake the development of a low density residential project on City -owned property located at 2055 Northwest 3rd Avenue. Section 3. The City Commission hereby established $20,000 as the acquisition amount to be paid by the St. John Community Development Corporation to the City for subject parcel in connection with the aforementioned development of a twenty-one (21) unit affordable rental project in the Overtown neighborhood. Section 4. The City Manager is hereby authorizedl' to execute the appropriate legal documents, in a form acceptable to the City Attorney, required to convey the subject parcel 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 prescribed by applicable City Charter and Code provisions. -3- , 92- 770 St. John Community Development Corporation, in connection with the development of said affordable housing projeot. The City Manager is further hereby authorized?/ to execute a Memorandum of Agreement, in a form aooeptable to the City Attorney, between the City of Miami and the St. John Community Development Corporation in oonnection with the proposed affordable housing project. Seotion S. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this loth day of ATT i; i M Y HIRAI CITY CLERK PREPARED AND APPROVED BY: LINDA K. KEARSON ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: A. I S, II CITY ATT Y LKK:osk:M3321 11 December 1992. XAVIER,Lj SUAREZ, MAYOR The herein authorization is further subjeot to compliance with '# all requirements that may be imposed by the City Attorney, inoluding but not limited to those prescribed by applicable City Charter and Code provisions. -4- 9 2- 770 9 EMBIT "A" OVERTOWN COMMUNITY DEVELOPMENT TARGET AREA PARCEL NO. 06-03 PARCEL ADDRESS: 2055 0orthwest 3rd Avenue PROPERTY LEGAL DESCRIPTION: Lots: 8-13, Block., 3 Security Add., Plat Book: 3/21 FOLIO NUMBER: 01-3125-042-0160 and 01-3125-042-0170 I EXHIBIT "B"� W. III r 1 I sZ�v q►5Q _ so e b5 uS T . t�� 4P � — 1 t1 - Q { Ui;, 1 I• 1 1 I till ocHoI3 Tr 8 Tr 8 NW 21 STREET �: r i 3P 4 P9 lPd.4 "� JZS tz uj 40 tr 15 3 ti z lot, - _ 04 3114 �( NW 20 TERRACE 7 M f .. I 5P r lSe lot SOU 7� — q 4 35 as 3s !� rV 140 4 �— SUBJECT PROPERTY 'r 92- 710 PARCEL Of —©3 CITY OF MIAMI, FLORIDACA=6 F` INTER -OFFICE MEMORANDUM To: Honorable Mayor Membe,4 of the Cesar H. Odio FROM : City Manager RECOMMENDATION: and DATE City Commission SUBJECT : REFERENCES ENCLOSURES. O'992 FILE Resolution Relating to St. John Community Develop- ment Corporation Afford- able Housing Project City Commission Agenda Item - December 10, 1992 It is respectfully recommended that the City Commission adopt the attached resolution related to the development of a 21 unit affordable rental housing project proposed for development on a vacant city -owned parcel located at 2055 Northwest 3rd Avenue in the Overtown neighborhood by St. John Community Development Corporation. The attached resolution ratifies and reaffirms Resolution No. 92-304, adopted by the City Commission on May 14, 1992, whereby the City Commission approved in principle, the aforementioned not -for -profit corporation as project sponsor, to undertake the development of a low density housing project, affordable to low and moderate income families. The attached resolution further establishes $20,000 as the reimbursement amount to be paid to the City by St, John Community Development Corporation for the subject parcel. The attached resolution further execute the appropriate legal subject parcel, in addition to the City and St. John Community to certain terms and conditions. BACKGROUND: authorizes the City Manager to documents for conveyance of the a Memorandum of Agreement between Development Corporation, subject The Department of Development and Housing Conservation recommends ratification of the attached resolution in connection with the development_ of a 21 unit rental housing project planned for development on a vacant city -owned parcel located at 2055 N.W. 3rd Avenue in the Overtown neighborhood by St. John Community Development Corporation. The said resolution further ratifies _ and -reaffirms Resolution No. 92-304, whereby the City Commission approved in principle, St. John Community Development Corporation as sponsor ofa low density affordable housing project planned on the.,above referenced parcel. - 92779 'ONy INA 6-� Honorable Mayor and Members of the City Commission Page 2 In April of 1991, through Resolution No. 91-337, the City Commission authorized the acquisition of a parcel of vacant land located at 2055 Northwest 3rd Avenue in the Overtown neighborhood, for the purpose of developing housing affordable to low and moderate income families and individuals. The subject parcel was acquired for $40,000. St. John CDC's proposal calls for the development of a twenty-one (21) unit rental project consisting of fourteen (14) 2-bedroom units and seven (7) 3-bedroom units. The 2-bedroom apartments and 3-bedroom apartments will rent for approximately $385/month and $435/month, respectively. The project sponsor has secured a preliminary commitment for $740,682 in construction financing from Homes for South Florida, in addition to $598,500 in construction and permanent financing from Metropolitan Dade County through the County's Documentary Surtax Program. Moreover, an additional $1,079,581 in low income tax credits has also been secured from the State of Florida for the project. Construction on the $1.8 million housing project is anticipated to commence by February, 1993. To date, St. John Community Development Corporation has been successful in developing a 35 unit townhome project, in cooperation with the City of Miami, on a former city -owned parcel located at Northwest 12th and 13th Streets between Northwest 2nd Court and 3rd Avenue. The $1.5 million rental project, St. John Rental Apartments, is indicative of the City's commitment to promoting the production of affordable housing in the City of Miami thorugh various public -private sector sponsored housing ventures. The City is in a position to assist the private sector in the production of new rental housing, within the affordability range of low and moderate income families, by making the 2055 Northwest 3rd Avenue parcel available for such development. The $20,000 established as the reimbursement amount to be paid to the City by St. John Community Development Corporation for the 2055 Northwest 3rd Avenue site represents fifty (50%) percent of the City's cost for site acquisition. The appropriate reverter provisions will be incorporated in the City's deed and the Memorandum of Agreement to ensure that the subject parcel will revert back to the City in the event the parcel is not developed or the corporation ceases to exists. In an attempt to further stimulate the development of new affordable housing units in the City, City Commission ratification of the attached resolution is recommended. V T �I wa. � tR.; 9 2- 770