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HomeMy WebLinkAboutR-91-0308a d-91-256 4/25/91 l] 11 RESOLUTION NO. y 1 w 308 A RESOLUTION, WITH ATTACHMENT(S), RELATED TO AFFORDABLE HOUSING; AUTHORIZING THE CITY MANAGER TO EXECUTE THE AGREEMENT OF PURCHASE AND SALE# IN SUBSTANTIALLY THE ATTACHED FORM, BETWEEN THE CITY OF MIAMI AND CODEC, INC., IN CONNECTION WITH THE DEVELOPMENT OF A ONE HUNDRED FIFTY (150) TOWNHOME PROJECT PLANNED ON THE PUBLICLY -OWNED 8.5 ACRE MELROSE NURSERY SITE; AUTHORIZING THE CITY MANAGER TO CONVEY TITLE TO ONE (1) PARCEL OF VACANT LAND UNDER CITY -OWNERSHIP SITUATED ON THE MELROSE NURSERY SITE TO CODEC, INC.; FURTHER REAFFIRMING $750,000 AS THE REIMBURSEMENT AMOUNT TO BE PAID BY CODEC, INC. TO THE CITY OF MIAMI IN CONNECTION WITH THE DEVELOPMENT OF THE PROPOSED ONE HUNDRED FIFTY (150) UNIT AFFORDABLE TOWNHOME PROJECT PLANNED ON THE ABOVE MENTIONED PARCEL; REQUIRING ALL PURCHASERS OF THE TOWNHOMES TO BE QUALIFIED UNDER THE METROPOLITAN DADE COUNTY SURTAX GUIDELINES; FURTHER REQUIRING CITY COMMISSION AUTHORIZATION PRIOR TO ANY INCREASE IN THE MONTHLY PAYMENTS FOR THE TOWNHOMES FROM CURRENTLY PROJECTED PAYMENTS. WHEREAS, there exists, in the City of Miami, a severe shortage of homes within the affordability range of families and individuals of 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 sales housing within the affordability limits and purchasing power of families and individuals of low an moderate income; and WHEREAS, on February 4, 1976, the City Commission adopted t. Ordinance No. 8515, which provided for the holding of a special , bond election on March 9, 1976, for the purpose of asking City; electors if bonds in an amount not to exceed $25,000,000 should �< a. be issued to provide housing in the City of Miami for families and persons of low or•moderate income, by using the proceeds of the bonds to assis Dade County in financing such housing in the City of Miami; and jATTACHM�NTS CUNTAINED WHEREAS, on March 25r 1976, the City Commission Canvassed 1 the returns of said special bond election, adopted Resolution No 71.-339, which declared that a majority of the votes cast in such election were in favor of issuance of said bonds; and WHEREAS, pursuant to the foregoing laws, the City and Metropolitan Dade County, have subsequently entered into various agreements to provide City assistance and involvement to Dade 1 County, for the provisions of housing for low or moderate income families and persons in the City of Miami; and 1 WHEREASr pursuant to the above referenced laws and agreements, Metropolitan Dade County and the City of Miami acquired legal title to the Melrose Nursery Site, using City of 1 0 Miami 1976 General Obligation Housing Bond Proceeds; and a WHEREAS, in September of 1986, the City Commission z- designated the Melrose Nursery Site for the development of -a low density townhome complex within the purchasing and r -„ affordability limits of low and moderate income families and individuals; and " WHEREAS, -on October 26, 1989, through Resolution No. 89-965, the City Commission conditionally designated CODEC, Inc., a not -for -profit corporation, as project sponsor for the development of a 150 unit townhome>project affordable to families 3f' - and- individuals of low and moderate income on a publicly, -owned if J Melrose'Nursery Site; and, ,,-'WHEREAS, through Resolution No. 89-965, the City Commission is = established '$750,000 as the reimbursement amount to be paid to: the!Ci.ty-by CODEC, Inc. for the Melrose Nursery Site; and WHEREAS, Resolution No. 89-965 directed the City Manager to f request Metropolitan Dade County to convey that portion of thQ i Melrose -Nursery -,Site, which was acquired for the City by Dade County, -An iee simple to the project sponsor, CODEC, Inc., subject,to certain �erms and conditions; and z- Z4 _ OWHEREAS, pursuant to applicable laws and agreements, the rf _it _holds, legal title to one (1) vacant lot situated on the a: Melrose Nursery Site which is legally described in the attached fr Exhibit "All , and x11. F E 1 i W2- r ,t 2 part, authorization for the City Commission to waive all disposition requirements when the intended use of adch_property or interest therein is in furtherance of the objective of providing affordable rental or sales housing to ;low and/or moderate income households; and WHEREAS, all purchasers must qualify under the Metropolitan Dade County Surtax guidelines; and : -'- WHEREAS, it is currently projected that the monthly payment i for the three bedroom townhomes will be Six Hundred Dollars and 1 i Five Hundred Dollars for the two bedroom units; — WHEREAS, it is anticipated that construction on the proposed townhome project will be underway on/or before June of 1991 and it is necessary that the City also transfer title to the City -owned lot, more specifically identified as parcel M-3 which is legally described in the attached Exhibit "A", to the project sponsor prior to the commencement of construction; I�OW,:THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: f 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. } `s#r Section 2. The City Manager is hereby authorized and `directed- to execute the Purchase and Sale Agreement, in substantially the attached form, for the conveyance of the a. ,publicly -owned 8.5 acre Melrose Nursery Site to CODEC, Inc. for the development of a one hundred fifty (150) unit townhome project affordable to low and moderate income families and �rid3viduls' subject to certain terms and conditions. Section 3. The City Manager is hereby authorized to conve y title to one (1)`1parcel of vacant land under City -ownership � situated on the Melrose Nursery Site identified as parcel M-3, to CODEC, Inc. e } y. •.A '4t � Section 4. The City Commission hereby reaffirms $750,000 as the reimbursement amount to be paid by CCDEC, Inc. to the City of Miami for the Melrose Nursery Site in connection with the development of the proposed one hundred fifty (150) unit affordable townhome project on the above mentioned parcel. Section 5. The City Commission hereby requires all purchasers of the townhomes to qualify under the Metropolitan Dade County Surtax guidelines. Section 6. Prior City Commission authorize action must be obtained before any increase is made in the monthly payments for the townhomes from the currently projected payments. Section 7. This Resolution shall become effective immediately upon its adoption. PASSED AND ADOPTED this 25th day of T AAp�, 1991. i 111 Q I 3 z y J i {i W Q 4 w. M i z ,M1 3 PP. z� �s .— CONTRACT FOR SALE AND PURCHASE ;r BETWEEN CITY OF MIAMI (Seller) and _ CODEC, INC. (Buyer) H This Agreement is entered into this day of 1991, by and between the CITY OIL MIANII, Dade County, a Municipal Corporation of the State of Florida (the "SELLER") and CODEC, Inc., (the "BUYER") whose address is 300 t Southwest 12th Avenue, Suite A, Miami, Florida 33130 (telephone number 642-1381). WITNESSETH ,t WHEREAS, the City is implementing a program to increase the ( supply of privately owned housing affordable to families and individuals of low and moderate income, known as the Affordable Housing Development Program (hereinafter referred to as .the "Program") and 1; WHEREAS, Metropolitan Dade County has acquired legal title 3 �f to the` -Melrose Nursery Site, using City of Miami 1976 General 9 -� a obli tion Housing Bond 9_ g proceeds, authorized pursuant:. ;to City of Miami_ Ordinance No. 8514' and Resolution.:No. 76-339; and . WHEREASIF2in January, 1978, through Resolution No. 87-82, the ,r #= City ;Commission designated the Melrose Nursery Site for. ithe ' a development:,. of, a low density affordable homeownership housing ;,or oject,--° within.. the- purchasing and affordability limitsof low and moderate =income families; and: f .L,.r "Mff RSAS, Florida Statute 125.38 provides,. :in pant, that any rear. orspersonal property, owned by. a county may be conveyed by the -Board": of County Commissioners to a not -for -profit corporation 0,. ` upon terms and conditions .-:set by the Board of •Count y ;.4, 'CAissioners, which foster and ,. •, ,_ promote the community interest Fin �. { �and ,:welfare; : and "NBXRXMi CODEC, Inc. has provided the City with i�o t`atidn neces arY 't4 verify its designation as a not-toi� F: ' -XPP -t K`-00* 4t_lcan, and its exemption from federal taxation under . eot +fin r QlM (3) of the Internal Revenue Codel and 9-1 WRERSAS, in October, 19891 the City Commission, through Resolution No. 89-965, designated CODEC, Inc. to undertake the development of a low density affordable housing project on the Melrose Nursery Site to be marketed to families and individuals of low and moderate income; established Seven Hundred Fifty Thousand Dollars ($750,000) as reimbursement to the City for the Melrose Nursery Site by CODEC, Inc.; and further directed the City Manager to request Metropolitan Dade County to convey title to the Site to CODEC, Inc., subject to certain terms and conditions; and = WHEREAS, in March, 1990, CODEC, Inc. received approval from the Dade County Surtax Advisory Council to transfer a Surtax funding commitment for Las Palmas Townhouse Project, in the l amount of One Million Nine Hundred Thousand Dollars ($1,900,000), 'I for construction financing and permanent financing, to the Melrose Nursery Project, contingent on CODEC, Inc. furnishing ;.! required documentation for review and approval by the Surtax Ti staff and. the Surtax Advisory Council; and ` WHEREAS., the BUYER desires to purchase said properties generally located at Northwest 28th Street and Northwest 27th Avenue , for use in the development of affordable housing in thei City of - Miami. NOW,.,THEREFORE, in consideration of the mutual covenants f contained herein, the BUYER and SELLER hereby agree that the SELLER shall, sell and the BUYER shall buy the real property;, described .below upon the following terms and conditions WHICH (.; INCLUDE the. Standards for Real Estate Transaction that are S; attached he.retq and,. hereby made a part of this Contract in J,. At t echietlt DESCRIPTION ; The legal descriptions and street addresses of the -rea]. +eatawto , 4t 'are the subject 'matter of this' Contract " are found in eh�nsntl "B", which is attached hereto and hereby made a part �f thi$ 3; I ti : 1 r i r I 91 1 l a4yM�t'. tl y r< PUItCi#ASE PRICL 1 PURCHASE PRICE . . . . . . $750,OOO.00 CONTINGENCIES The SELLER shall convey the property to the BUYER only after i - all of the following contingencies have been satisfied: l) The City Commission of the City of Miami must have given final approval to this Contract. 2) The parties must have successfully negotiated a separate agreement to be known as the "Memorandum of Agreement", _ which is attached hereto and hereby made a part of this Contract as Attachment "C", dealing with the development of housing on the real estate being conveyed by this Contract _ .i (whereas the terms of this Contract for Sale and Purchase i' govern only the conveyance of title from SELLER to BUYER). Said "Memorandum of. Agreement" must additionally have been 4, a, given final approval by the City Commission of the City of JI Miami. 3) All property disposition requirements imposed by state law k . upon municipalities must be satisfied. >L: X 4) The.BUYER must submit plans to the SELLER within sixty (60) i days of the date of this Contract which shall consist. of,.i final working drawings and specifications including (without' limitations) the following information: 3; a) Definitive architectural drawings; t b) Definitive foundation and structural drawings; c) Definitive electrical and mechanical drawings and final' speci£i`cations. The SELLER shall review' these final working drawings and f —; specifications and shall promptly provide the BUYER ,t notice of its approval or disapproval. In the event 4f a disapproval, the SELLER shall promptly set forth in l detail it's reasons for the disapproval, pp These reasons :. shAll' be given to BUYER not more than thirty (3Q) days ; x' + w (. S {4� '{a".€°a,s 9S 55f r after receipt of the documents. The SELLER's approval of 1 s 1 these final working drawings and specifications is a t precondition to the conveyance of the deed by the SELLER. Such approval shall not be unreasonably withheld. a 1 5) The BUYER shall have received the commitment(s) for the construction and permanent financing for the acquisition and improvements to be built on the real property. The BUYER shall present to the SELLER such evidence of these f commitment(s) as may be reasonably satisfactory to the SELLER. The SELLER's approval of these commitment(s) is a _ precondition to the conveyance of the deed by the SELLER. ' Such approval shall not be unreasonably withheld. TITLE EVIDENCE, Within fifteen (15) days from the date of this Contract, the SELLER shall, at its expense, deliver to the BUYER or its _� attorney, in accordance with Attachment , Standard A, an f {. abstract of title. �+ ` CLOSING DATE (; This transaction shall be closed and the deed and other closing papers delivered either before or simultaneously with the closing on the construction loan(s) for the construction of the k. ®, -71 residential units on the property. RESTRICTION; EASEMENTS; LIMITATIONS _ The BUYER shall take title subject to: zoning, restriction,. prohibitions;: and other requirements im osed b p y governmental` authorit y; restrictions and matters appearing on the plat or .: , 9tba,rwi6e.,common to the subdivision; public utility easements of 1 � (' record; taxes for the year of closing and subsequent years (see }: a AfitahmQnk "A'', Section K, "Prorations" regarding proration of the taX08 for the current year). Provided, however, that there ,., ..� t a. 3 ATTACHMENT "A* STANDARDS POK )t$AL ESTATE 'TRANSACTIONS I A) EVIDENCE OF TITLE r An abstract of title prepared by a reputable abstract firm purporting to be an accurate synopsis of the instruments affecting title to the Property recorded in the public records of the County wherein the Property is located which shall commence with the earliest public records, or such later date as may be customary in the County. Seller shall convey a marketable title, subject only to liens, encumbrances, exceptions or qualifications set forth in this Contract and those which shall be discharged by Seller at or before closing. Marketable title' shall be determined according to applicable Title Standards adopted by authority of the Florida Bar and in accordance with law. Upon closing of this transaction the abstract shall become property of the Buyer, subject to the right of retention thereof by the first mortgagee until fully paid. Buyer shall have ten (10) days from the date of receiving � evidence of title to examine same. If title is found defective, Buyer shall, within three (3) days thereafter, �. notify Seller in writing specifying defect(s). If said defects) render title unmarketable Seller will have 120 = days from receipt of notice within which to remove said {; defect(s), and if Seller is unsuccessful in removing them within said time, Buyer shall have the option of either = accepting the title as it then is, or demanding a refund of all monies paid hereunder which shall forthwith be returned to Buyer and thereupon Buyer and Seller shall be released, ,{ as to one another, of all further obligations under this Contract. t; B) SURVEY i Buyer, at Buyer's expense, within the time allowed for delivery of evidence of title and examination thereof, may have the Property surveyed and certified by a registered Florida surveyor. If the survey shows any encroachment on 4 the Property or that improvements intended to be located on the'' Property in fact encroach on setback lines, easements$, lands of others, or violate any restrictions, contract -, covenants, or applicable governmental regulations, Buyer j shall have the option of either accepting the Property as R it" is or terminating this Agreement with no further ` obligation on its part to purchase the Property. C) INGRESS AND EGRESS Seller warrants that there is ingress and egress to the Property sufficient for the intended use as described in } tbie Contract, . D) -LINNS llershall, both as to the Property and Personalty being r; Sold furnish to Buyer at time of closing an ,hereunder, tf d vit 'attesting to the absence, unless otherwise povi+d+sd�or herein, of any financing statements, olainns" 9 1>- 3018 „ x r 1 of lien or potential lienor known to Seller and further 3 attesting that there have been no improvements or repairs to the Property for ninety (90) days immediately preceding the date of closing. If the Property has been improved, or repaired within said time, Seller shall deliver releases or waivers of mechanic's liens, executed by all general contractors, subcontractors, suppliers and materialmen, in i; addition to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further reciting that in fact all bills for work to the Property or Personalty which could serve as a basis for a mechanic's lien or a claim for damages have been paid or will be paid at closing. B) PLACE OF CLOSING Closing shall be held in the county wherein the Property is located, at the office of the attorney or other closing agent designated by the Seller. G) TIME Time is of the essence of this Contract. Any reference herein to time periods of less six (6) days shall in the computation thereof exclude Saturdays, Sundays and legal holidays and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 P.M. of the next full business day. H) PRORATIONS Taxes, assessments, rent, interest, insurance and other expenses and revenue of the Property shall be prorated through the day to the closing. Cash at closing shall be increased or decreased as may be required by said iJ prorations. All prorations will be made through the day € prior to occupancy if occupancy occurs before closings Taxes shall be prorated based on the current year's tax. If closing occurs on a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated based upon such assessment and the prior year's millage. If the current year's assessment is not available, then taxes will be prorated on the prior year's tax; provided, however, if there are completed improvements on the Property by January 1st of the prior 3 year, then taxes shall be prorated based upon the prior ' b ..: assessment to be agreed 1' and at an a vita s millage e ear 9 Y 9 q upon between the parties, failing which, request will be made, to the County Property Appraiser for an informal assessment taking into consideration homestead exemption, if any. However, any tax prorations based on an estimate may at the request of either the Buyer or the Seller be subsequently readjusted upon receipt of tax bill on condition that a statement to that effect is set forth in the closing statement. I) SPECIAL ASSESSMENT LIENS Certified, confirmed and ratified special assessment liens as of the date of closing (and not as of Effective Date) are to be paid by the seller. Pending liens as of the date of closing shall be assumed by Buyer, provided, however, that if the improvement has been substantially completed }' sa of 'Effective pate, such pending lien shall be considered , Z �, £ i i as certified, confirmed and ratified and Seller shall, at t closing, be charged an amount equal to the last estimate by the public body of assessment for the improvement. J) CONTRACT NOT RECORDABLE, PERSONS BONDt� NOTICE V 1 Neither this Contract nor any notice thereof shall be recorded in any public records. This Contract shall bind and inure to the benefit of the parties hereto and their successors in interest. Whenever the context permits# singular shall include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as it given by or to said party. K) CONVEYANCE Seller shall convey title to the Property by warranty deed. Seller shall both (1) retain a right of reversion in the property description in Attachment B as 2610 Northwest 25th Avenue and (ii) Title to the properties described in Attachment B as 2741 Northwest 27th Avenue and 2618 Northwest 25th Avenue shall vest in the Seller, if the "Project" (as defined in the Memorandum of -Agreement) is not completed within thirty-six (36) months from the conveyance of the property, the Seller may enter and terminate the estates being conveyed. LEGAL, DESCRIPTION OF PROPERTY * ADbRBSSt 2741 Northwest 27th Avenue LEGAL DESCRIPTIONt All real property as set forth in the Plat of FRIZZ HOMESITE, according to the Plat thereof, as recorded in Plat Rook 30, Page 46, of the Public Records of Dade County, Florida. FOLIO NUMBERS 01-3127-037-0010 * ADDRESS: 2618 Northwest 25th Avenue I LEGAL DESCRIPTION: Lot 1, the North 40 feet of Lot 21 and the South 45 feet of Lot 3, Block 2, of GROVELAND, according to the Plat thereof recorded in Plat Book 11, Page 54 of the Public Records of Dade County, Florida. FOLIO NUMBER: 01-3127-034-0240 and 01-3127-034-0260 *.* ADDRESS: 2610 Northwest 25th Avenue LEGAL DESCRIPTION: The South 20 feet of Lot 2 and the North 20 feet of Lot 3, Block 2, °. GROVELAND, according to the ;Plat. thereof recorded in Plat Book 11, Page 54 of the Public Records of Dade County, Florida. FOLIO NUMBER: 01-3127-034-0250 * .T.itle .to parcels arerecorded in the name of METROPOLITAN .` DADE•.COUNTY. *� Title to parcel, is recorded in the name of THE CITY- OF MIAMI. s f y � s 9 '�5. ���'.+�i-.� a� 5��._,uk-c".��si�a.�"� .r , .,. .,..r ... ,a.-- a x . ; s. a�3.�Y;�� __ _,-•- CITY OF MIAMI, FLORIDA At INTER -OFFICE MEMORANDUM --Ii To, Honorable Mayor and MembersEILE IH� Z $ 1991 - of the City Commission GATE : Resolution Relating to SUBJECT : Melrose Nursery Townhome Project FROM :Cesar H. od City Manage RECOMMENDATION: REFERENCES: City Commission Agenda Item - April 11, 1991 ENCLOSURES: It is respectfully recommended that the City Commission adopt the attached resolution related to the development of a 150 unit affordable townhome project planned for development on the publicly -owned 8.5 acre Melrose Nursery Site by CODEC, Inc. The attached resolution ratifies and reaffirms Resolution No. 89-965 adopted October 26, 1989, whereby the City Commission established $750,000 as the reimbursement amount to be paid by CODEC, Inc. for the purchase of the aforementioned housing site.' The attached resolution further authorizes the City Manager to execute an Agreement of Purchase and Sale between the City of Miami and CODEC, Inc., in addition to the conveyance of one (1) parcel of vacant land currently under City -ownership identified as Parcel M- 3, for conveyance of the entire 8.5 acre housing site. BACKGROUND: The Department of Development and Housing Conservation recommends ratification of the attached resolution in connection with the development of a 150 unit affordable townhome project by CODEC, Inc. on the 8.5 acre publicly -owned Melrose Nursery Site. The attached resolution ratifies and reaffirms Resolution No. 89-965 adopted October 26, 1989, whereby the City Commission established - $750000 as the reimbursement amount to be paid to the City by CODEC, Inc. for purchase of the aforementioned housing site. The attached resolution further authorizes the City Manager to execute an Agreement of Purchase and Sale between the City of Miami and CODEC, Inc., in addition to tim conveyance of one (1) parcel of vacant `land currently under City -ownership identified as Parcel M- 31 for conveyance of the entire 8.5 acre housing site. In September of 1986, the City Commission designated the Tdelrose .- Nursery Site for the development of a low -density homeownership townhome development affordable to low and moderate 'income f ami lies. Subsequently, in October of 1989, through Resolution No, 89-965, the City `Commission conditionally designated CODECI, Inc., a not -for -profit corporation, as project sponsor for the development of a 150 unit- townhome project on the Melrose Nursery Site. Moreover, through Resolution No. 89-9651 the City Commission - established $750000 as the reimbursable amount to be paid to the City by CODEC, Inc. for the subject parcel. r {t - 3 { } ' 3 t U � r 1 1 Resolution for the Melrose Nursery Site r� i Page .. 2 . a: i The attached resolution authorizes the City Manager to execute an E Agreement of Purchase and Sale between the City of Miami and CODEC, Inc. for this purpose. The City Commission, through Resolution No. 89-965 further instructed the City Manager to request Metropolitan Dade County to convey title to the Melrose Nursery Site to CODEC, Inc., subject to certain terms and conditions. Presently, title to ninety-nine (99%) percent of the Melrose Nursery Site is vested in the name of Metropolitan Dade County. However, there exist one (1) parcel of vacant land specifically identified as Parcel M-3, which is presently under City -ownership. The attached resolution further authorizes the City Manager to convey title to Parcel M-3, which is presently under City -ownership, to CODEC, Inc., in accordance with Section 29-B of the City Charter. Based on the current development schedule, it is anticipated that construction on the Melrose Nursery Site will commence on/or before June 1, 1991. In an attempt to move the construction of the proposed townhome project forward, City Commission ratification of the attached resolution is recommended.