HomeMy WebLinkAboutR-89-0664V Ok
J-89-686
6/26/89
RESOLUTION NO. R9"" GGI
A RESOLUTION APPROVING IN PRINCIPLE THE
APPLICATION OF PROJECT DEVELOPER "LITTLE
HAITI PLAZA CORPORATION" FOR THE CONSTRUCTION
OF A "LITTLE HAITI SHOPPING CENTER" WITH A
130-PARKING SPACES AND DIRECTING THE CITY
MANAGER TO PROCEED WITH THE CITY'S
APPLICATION FOR AN URBAN DEVELOPMENT ACTION
GRANT FROM THE U.S. DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT.
WHEREAS, "Little Haiti Shopping Plaza Corporation" intends
to finance construction of a Little Haiti Shopping Center
comprising approximately 38,150 square feet of net leasable area
and with 130-parking spaces; and
WHEREAS, the proposed activity is expected to generate
approximately 48 construction jobs and 123 full time permanent new
Jobs; and
WHEREAS, the total cost of the project is $2,500,000 of
which $300,000 is proposed to be funded from an Urban Development
Action Grant from the U.S. Department of Housing and Urban
Development; and
WHEREAS, an additional $200,000 will be funded through the
Mini UDAG Program with Community Development Block Grant (CDBG)
funds;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF M IAM I, FLORIDA:
Section 1. The application for the development of the
"Little Haiti Plaza Shopping Center Project," with 130-parking
spaces is hereby approved in principle and the City Manager is
directed to proceed with the City's application for an Urban
Development Action Grant from the U.S. Department of Housing and
Urban Development.
CITY COMMISSION
MEETING OF
JUL 13 19899_
RESOLUTION No. 89-664,
REMARKS:
0
0
Section 2. this Resolution shall become effective
immediately upon its adoption pursuant to law.
PASSED AND ADOPTED this 13th /day of
1989. _
ATT
CITY CLERK
PREPARED AND APPROVED BY:
d 4t"y /" &,J(14
RUBERT F. Z'L ARK
ASSISTANT CITY ATTORNEY
LEGISLATION DIVISION CHIEF
APPROVED AS TO FORM AND CORRECTNESS:
% 1
CI Y ATTORN Y
i
JUIV
Ma
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
HogoraEle Miyor ana embers A
To : of the City Commission DATE J U N 2 3 19g9 FILE .
Resolution pproving an
SUBJECT Urban Development Action
A�e� Grant Application for
the Little Haiti Plaza
Cesar H. Odio Shopping Center Project
FROM City Manager REFERENCES
City Commission Meeting
ENCLOSURES : J U l y 13, 1989
RECOMMENDATION:
It is respectfully recommended that the City Commission approve
the attached resolution authorizing the City Manager to proceed
with an Urban Development Action Grant Application for the
"Little Haiti Shopping Center Project, to be developed by the
"Little Haiti Plaza Corporation," a newly formed Florida
Corporation, and composed of the following principals: Rafael
Kabustin, Investor and Real Estate Developer and Ringo Cayard,
President of Cayard and Associates, Inc., a marketing consulting
company.
BACKGROUND:
The Department of Community Development has analyzed the need to
approve in principle an Application for an Urban Development
Action Grant in the amount of $300,000 from the "Little Haiti
Plaza Corporation," for the development of the "Little Haiti
Plaza Shopping Center".
The project will be located at 130 N.E. 79th Street in the
Edison/Little River Neighborhood Community Development target
area. The area encompasses approximately 3.5 square miles with
some 49,500 residents and is often referred to as the Little
Haiti area due to the predominantly Haitian Community.
The "Little Haiti Plaza Shopping Center", will comprise
approximately 46,572 square feet of new construction with 38,150
of rentable space and on -site parking for 130 cars.
Along with the $300,000 UDAG, the developers will also receive
$200,000 from the City's Mini UDAG program funded with Community
Development Block Grant (COBG) funds. The balance of $1.9
million will be provided from the developer and the private
sector.
Attachment:
Resolution
Y
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
URBAN DEVELOPMENT ACTION GRANT
SUMMARY
1. Application Date: July 31, 1989
2. Name of Project: "Little Haiti Plaza"
Shopping Center
3. Type of Project: The project consists of the
construction of a one story
building containing
approximately 46,572 square feet
of leasable commercial space and
on -site parking for 130 cars.
4. City Contacts: Frank Castaneda, Director
Department of Community
Development
—
1145 N.W. 11th Street
_
Miami, Florida 33136
Phone: (305)575-5076
5. Consultants: Martinez -Pose Architects
Phone: (305)446-1166
G.V. Pirez-Associates, Inc.
-_'
Structural Engineers
Phone: (305)854-4104
Lauredo Engineering Co.
Plumbing, Electrical & HUAC
Phone: (305)858-2638
Pedro E. Rodriguez, P.E.
—+
Civil Engineering
Phone: (305)552-7425
Betancourt-Castellon Associates, -
- Construction Consultants
Phone: (305)598-2932
6.
Project Developer:
"Little Haiti. Plaza Corporation"
25 S.R. 2nd Avenue;
Miami; Florida 33131
Phone: (305)371-9090
Principals: Rafael Kapusti.n and
Ringo Cayard
7.
Location:
The site .is.located at 130 N.E.
79th Street.
8.
Zoning:
The site is presently zoned CR-
3-7 and Is in full compliance
with the zoning requirements of
the City for this project.
9.
UDAG Request:
$300o000
10.
Total Project Cost:
$2,448,345
11.
Number of Jobs Created:
Construction: 48
Permanent: 123
12.
New Taxes Generated:
$115,249
13.
Private Leverage Ratio:
3:89:1 Without considering net
present value of UDAG repayment.
14.
Cost
of New Permanent Jobs:
1 job/$2,439 UDAG
15•
Tax
Benefits:
$0.07/per UDAG dollar
16.
Site
Control:
Option to purchase the land.