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HomeMy WebLinkAboutR-88-0626V J=88=671 6/30/88 RESOLUTION NO. fqs 6 tiV t A RESOLUTION OF THE CITY COMMISSION AUTHORIZING THE CITY MANAGER TO REQUEST METROPOLITAN DADE COUNTY TO TRANSFER TITLE OF THE PUBLICLY -OWNED MELROSE NURSERY SITE ro THE CITY OF MIAMI; FURTHER AUTHORIZING THE CITY ATTORNEY TO ACCEPT TITLE TO THE SUBJECT PARCEL AFTER EXAMINATION OF THE ABSTRACT AND CONFIRMATION OF TITLE; FURTHER ESTABLISHING ONE MILLION TWO HUNDRED THOUSAND DOLLARS ($1,200,000) AS REIMBURSEMENT TO THE CITY FOR THE MELROSE NURSERY SITE BY MELROSE TOWNHOME DEVELOPMENT, INC., A NOT -FOR -PROFIT CORPORATION IN CONNECTION WITH THE LOW DENSITY AFFORDABLE SALES HOUSING DEVELOPMENT TO BE UNDERTAKEN BY THE AFOREMENTIONED PROJECT SPONSOR. WHEREAS, there exists, in the City of Miami, a severe shortage of sales housing within the affordability range of families and individuals of low and moderate income; and WHEREAS, the City Commission recognizes that the 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 and moderate income; and WHEREAS, in January of 1987, the City Commission, through Resolution No. 87-82, designated Melrose Townhome Development, Inc., a not -for -profit corporation, as sponsor of the development of a 153 unit townhome complex on the publicly -owned Melrose Nursery site; and WHEREAS, Melrose Townhome Development, Inc. has been successful in securing financing commitments for construction, first and second mortgage home purchase financing commitments in order to move the townhome project forward; and WHEREAS, in order for Melrose Townhome Development, Inc. to move the proposed project forward, it is necessary that the City of Miami secure title to the Melrose Nursery site from Metropolitan Dade County in order to initiate the replat of the CITY COMMISSION MEETING OF t t JUL 14 1988 �.:oLU'(1QN No. LAWS: subject parcel, in addition to the City Commission's establishment and approval of the reimbursement amount to the City for its land acquisition cost; and WHEREAS, on February 25, 1988, the City Commission, through Motion No. 88-182, stipulated that the subject parcel would be marketed to the project sponsor based on the lesser amount between the appraised value and the original cost of land acquisition by the City; and WHEREAS, based on the appraisals secured by the City, it is recommended that Melrose Nursery be marketed to Melrose Townhome Development, Inc. at a value of $1,200,000; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Commission hereby approves and establishes $1,200,000 as the recoverable value to the City for the Melrose Nursery site in connection with the affordable sales housing project to be undertaken by Melrose Townhome Development, Inc. on the above mentioned parcel. Section 2. The City Manager is hereby instructed to request Metropolitan Dade County to transfer title to the Melrose Nursery site to the City of Miami and to initiate any predevelopment activities required to effectuate the start of construction on the subject parcel. 11 PASSED AND ADOPTED this 14th day of July �, 1988. ^ ATT i r �4AT Y &HIRAI. CITY CLERK PREPARED AND APPROVED BY: ROBERT F. CLARK CHIEF DEPUTY CITY ATTORNEY XAVIER L. SUARE , APPROVED AS TO FORM AND CORRECTNESS: JOR E L.,)FERNAPDEZ CITY ATTORNEY 1� The City Attorney is authorized to accept title to the subject parcel after examination of the abstract and confirmation of title. -2- A6-626 CITY OF MIAMI. FLORIDA INTER -OFFICE MEMORANDUM Honorable Mayor and Members �O of the City Commission FROM Cesar li. Odl 0 1 } City Manager 1' RECOMMENDATION: DATE f- inn U U L J t�;08 CILE Resolution Requesting SUBJECT Transfer of Melrose Nursery Parcel REFERENCES City Commission Agenda Item - July 14, 1988 ENCLOSURES It is respectfully recommended that the City Commission adopt the attached resolution instructing the City Manager to request Metropolitan Dade County to transfer title to the publicly -owned Melrose Nursery site to the City of Miami. The attached resolution further recommends the establishment of $1,200,000 as the purchase.price for the publicly -owned Melrose Nursery site in connection with the development of a low density sales housing project planned on tale aforementioned parcel. BACKGROUND: The Housing Conservation and Development Agency recommends ratification of the attached resolution instructing the City Manager to request Metropolitan Dade County to transfer title to the publicly -owned Melrose Nursery site, in addition tj establishing $1,200,000 as the recoverable value to the City for conveyance in connection with the affor1able housing project planned on the subject parcel by Melrose Townhome Development, Inc. In January of 1987, the City Commission, through Resolution No. 87-82, designated Melrose Townhome Development, Inc., a not -for - profit hcising corporation, as sponsor for the development of a 153 unit townhome complex on the Melrose Nursery site. The City Commission' s des ignat ic)z of Me Lrose Townhoiiie Development, I,ic. , as sponsor of the project was predicated on the not -for -profit sponsor's ability to secure firm commitments for construction, and first and second mortgage home purchase financing in accordance with the proposal presented to the City Commission at the January 8, 1987 City Commission meeting. To date, the project sponsor has been successful in securing preliminary commitments for construction and first mortgage financing, in addition to $1,500,000 in second mortgage home purchase financing commitments from •the City for the prospective purchasers of the townhomes planned. .,i 0 Resolution Requesting Transfer of Melrose Nursery parcel. Page - 2 At present, title to *the Melrose Nursery site is vested in the name of 'Metropolitan Made County. In order to move this project forward, it is necessary that title to t"ie 'Melro-se ?Iursery site be transferred to the City of Miami in order that tli,-- required replatting of the subject parcel be initiated. In addition, it is also necessary that the City Commission establish the reimbursement amount to the City for its cost of site acquisition. In an effort to move the construction of the proposed 153 unit affordable townhome complex forward, it is recommended that the City Commission approve the attached resolution. 88-szs �.