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Home My WebLink AboutR-88-06516 j 30/8�80 (M 88-584 b/23/88) RESOLUTION NO. NN 6.51 A RESOLUTION OF THE CITY COMMISSION APPROVING AND ESTABLISHING FIVE HUNDRED TEN THOUSAND DOLLARS ($510,000) AS REIMBURSEMENT TO THE CITY OF MIAMI FOR THE PUBLICLY -OWNED CIVIC CENTER SITE BY CODEC, INC., A NOT -FOR -PROFIT COMMUNITY DEVELOPMENT CORPORATION, IN CONNECTION WITH THE LOW DENSITY AFFORDABLE SALES HOUSING DEVELOPMENT PLANNED FOR CONSTRUCTION ON THE SUBJECT PROPERTY; RATIFYING AND CONFIRMING THE CITY COMMISSION'S PREVIOUSLY APPROVED REAL PROPERTY REIMBURSEMENT SCHEDULE. 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. 87-93, designated CODEC, Inc., a not -for -profit community development corporation, as sponsor for the development of a 96 unit condominium project on the publicly -owned Civic Center site; and WHEREAS, on February 25, 1988, the City Commission through Motion No. 88-182, approved a reimbursement provision which would allow the City to take a third mortgage for reimbursement of its land acquisition cost; and WHEREAS, through Motion No. 88-182, the City Commission 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 acquisition by the City; and CITY COMMISSION MEETING OF JUL 14 1988 ztaoiUnox4 No. WHEREAS, the City Administration retained the services of two appraisers in order to A etermine the fair market value of the Civic Center site, and WHEREAS, the appraisers retained by the City, AppraisalFirst, Inc. and J. Mark Quinlivan determined the fair market value of the Civic Center site to be $675,000 and $346,000 respectively; and WHEREAS, based on the appraisal reports secured by the City, it is recommended that the Civic Center site be marketed to CODEC, Inc. for $510,000, which represents an average of the two appraised values assigned by the appraisers; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Commission hereby approves and establishes $510,000 as the recoverable value to the City for the Civic Center site in connection with the affordable sales housing project to be undertaken by CODEC, Inc. on the above mentioned parcel. Section 2. The City Commission hereby reaffirms its previously approved reimbursement provision allowing repayment to the City to be made in the form of a third mortgage. PASSED AND ADOPTED this 14th day of July 1988. XAVIER�L.(��IEZ, MAYOR ATTEST: A MATTT-HIRAI, CITY CLERK PREPARED AND APPROVED BY: 2' RO ERT F. CLARK CHIEF DEPUTY CITY ATTORNEY -- 2 - APPROVED AS TO FORM AND CORRECTNESS: JOR E L., ' ERN DEZ CITY ATTORNEY �8-651 ATTACHMENT 1 CIVIC CENTER SITE REIMBURSEMENT SCHEDULE On February 25, 1988, the City Commission ad(-)j)ted Motion No. 88- 182, approving the disposition and land reimbursement schedule for the publicly -owned Melrose Nursery site, Civic Center site and two parcels (sites 10 and 11) located in the Overtown neighborhood in connection with the development of three affordable sales housing projects planned in the City by Melrose Townhome Development, Inc., COUEC, Inc. and St. John Community Development CorporatLon. Pursuant to Motion No. 88-182, the real property reimbursement schedule for the aforementioned publicly -owned parcels shall be as follows: 1) In order to ascertain recoverable value to the City of Miami for its land acquisition cost, the City Administration shall secure an appraisal of each of the subject properties and the City shall accept the lesser amount between the said appraisal and the original. cost paid at the time of purchase. 2) Reimbursement for said land cost by the project sponsor shall be in the form of a third mortgage placed on each individual housing unit and payments shall be made to the City of Miami at $25.00 per month for the first ten (10) years and shall be applied to the principle only. No interest shall be applied during the aforementioned period. 3) Commencing with the eleventh year, the said third mortgage shall be amortized over the remaining twenty (20) years at six percent (6%) and shall include principle and interest payments to the City. 4) In no event will the said third mortgage be assumable. 5) In the event of transfer of ownership and/or sale of the housing unit, full payment of the City's third mortgage, including principle and interest shall come due. R�-6S1, 0 February 25, 1988 A MOTION OF THE CITY OF MIAMI COMMISSION M 88-182 STIPULATING THAT, IN CONNECTION WITH THE CITY'S MOVED: DE YUNF INTENDED DISPOSITION OF THREE PARCELS OF SECOND: KFNNEI PUBLICLY OWNED PROPERTY TO (a) AMERICAN UNANIMOUS FINANCIAL CORPORATION INTERNATIONAL, INC. (b) CODEC, INC., AND (c) ST. JOHN COMMUNITY DEVELOPMENT CORPORATION FOR THE CONSTRUCTION OF AFFORDABLE HOUSING PROJECTS, THE ADMINISTRATION IS DIRECTED TO PRESENT A REAL PROPERTY REIMBURSEMENT SCHEDULE TO BE FOLLOWED BY DEVELOPERS WHICH BASICALLY CAN BE SUMMARIZED AS FOLLOWS: 1) DEVELOPER SHALL PAY BACK TO THE CITY $25 PER MONTH FOR THE FIRST TEN YEARS TOWARD PRINCIPAL, AT NO INTEREST DURING SAID TIME; 2) STARTING WITH THE ELEVENTH YEAR, DEVELOPERS WOULD BEGIN TO AMORTIZE THE REMAINING PRINCIPAL PLUS INTEREST AT 6% OVER THE PERIOD OF 20 YEARS. 3) IN NO EVENT WOULD MORTGAGE BE ASSUMABLE; 4) IF THERE WERE TO BE A CONVEYANCE OF TITLE, THE ENTIRE MORTGAGE WOULD BE PAYABLE; 5) IN ORDER TO ASCERTAIN RECOVERABLE VALUE TO THE CITY, AN APPRAISAL SHALL BE MADE OF THE PROPERTY IN QUESTION AND THE CITY SHALL TAKE THE LESSER AMOUNT BETWEEN THIS APPRAISAL AND THE ORIGINAL COST PAID AT TIME OF PURCHASE; AND 6) THERE SHALL BE NO PREPAYMENT PENALTY. H S- 6 i 1, ZITY Cr MIAMI. PLORIDA 'NTER-OFFICE MEMORANDUM = Honorable Mayor and Members ATE July 14. 1988 'ALE of the City Commission City Commission Meeting July 14, 1988 GZ•sv(. �� Agenda Items #14, #16, FROM Jorge L. Fernandez=EFERENCES #,28, 035, #36, #39 #42, City Attorney #50, #63, #60, #62, #63 / ENCLOSURES and #145 The following information and material should be considered by you in your deliberations at today's Meeting: Agenda Item #14 (J-88-633) [Resolution accepting bids for furnishing office supplies] We have added language in the body of the Resolution to reflect that in those instances where a minority vendor and a non -minority vendor submitted bids in the identical amount, the award is being made to the minority vendor; likewise, where identical bids have been submitted by a Dade County vendor and a non -Dade County vendor, the award is being made to the Dade County vendor. AgPndOL (J-88-635) [Resolution accepting bid for furnishing and installation of playground equipment] The allocation of specified amounts from the various project accounts for this contract to purchase and install park equipment in 18 City parks has been modified to reflect that the allocations are maximum amounts. The modification was made because the total proposed contract cost is less than the allocated amount in the Resolution that was distributed in the Packet. ggenda Item #28 (J-88-645) [Resolution declaring a previously awarded bidder in default and accepting next lowest bid] This Item involves a bidder, who after being awarded a contract for the construction of this Virginia Key Lifeguard project, simply did nothing (not even executing the contract documents). As distributed, the Resolution would have rescinded the earlier awarding Resolution (No. 88-197, 3/10/88). However, we have modified the proposed Resolution to expressly declare. -the previously successful bidder to be in default. A copy of the substitute Resolution is attached. 98-'651 r •' Honorable Mayor and Members July 14, loss of the City Commission page 3 Agenda Item #53 (J-88-670) [Resolution approving and establishing reimbursement to City for construction of housing project) Attached for reference you will find a reimbursement schedule for repayment of the City's site acquisition cost for the Civic Center Site housing project which is the subject of this Item and which was previously approved by Motion 88-182 on 2/25/88. The Schedule was not included in the material that was distributed in the Agenda Packet. Copies of the motion and schedule are attached. Agenda Item 460 (J-88-674) [Resolution authorizing use of streets for a running event] A last minute change in the local sponsor of this September 11, 1988 event necessitated a modification of the Resolution as distributed. Attached is a substitute Resolution reflecting that the Miami Runners Club is the new sponsor for the Sports Aid 188 race to be run in Coconut Grove instead of Downtown Miami. NOTE: At the time the Consent Agenda is voted upon, with the exception of #42 which we request to be withdrawn. if these Items 014. #16, #28, #36, #39, #50, and #60) are not removed from the Consent Agenda and considered separately, there should be an announcement made by the Mayor that Items #14, #16, #28, #38, #39, #50 and #60 are being voted upon 'as modified'. Agenda Item #62 (J-88-695, J-88-695A) [Emergency Ordinance increasing fees for reproduction of records and services] This Item as distributed consists of an emergency ordinance which not only would increase fees for reproduction of copies of Building and Zoning Department records but also increase fees for other department services and for certificates issued by that Department. In order to satisfy the requirements of law pertaining to "single subject" legislation, we have drafted = ordinances which treat the reproduction fee increase separately from the increase in other fees. Both of these substitute ordinances are attached hereto for your separate consideration: J-88-695 identifies the reproduction fee increase ordinance which amends City Code Section 2-74. J-88-695A taentifies the fee increase ordinance for the other services and certificates involving the functions of the Building and Zoning Department. 8onorable Mayor and Members of the city Commission July 14. 1988 Page 4 Agenda Item_ #83 (J-88-878) [Emergency Ordinance changing the required notification for public hearings to comply with State Statutes] The title of this Emergency Ordinance as distributed reflected an amendment as being made to City Code Section 82-54 when in fact no amendment is being made. Accordingly, we have made this change and corrected a grammatical error in the first 'Whereas' clause. The attached ordinance replaces the ordinance contained in your Packet. Agenda item #145 (J-88-375) [Discussion concerning proposed revision to City Burglary and Robbery Alarm Ordinance] Our previous transmittal memorandum to you dated July 8. 1988 is attached hereto together with the proposed amendatory ordinance which is recommended for adoption on first reading at this Meeting today. LTLF:RFC:bss:P584 cc: Cesar H. Odic. City Manager Natty Hirai, City C1•_rk Herb Bailey, Assistant City Manager Chief Clarence Dickc n, Police Department Ron E. Williams, Director, General Services Administration Walter Golby. Director Department of Parks. Recreation and Public Facilities Don W. Cather. Director, Department of Public Works Gerry Gerreauz, Dirc:�tor Housing Conservat-on and Development Agency Frank Casteneda, Director. Department of Community Development Edith Fuentes, Director Department of Building and Zoning Linda K. KearsQn, Assistant City Attorney 88'-6.51 53 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM Honorable Mayor and Members To of the City Commission 4�n FROM Cesar H. Odio City Manager RECOMMENDATION: DATE , U L eC r0 FILE Resolution Approving sue E�- Real Property Purchase Price REFERENCES Civic Center Site City Commission Agenda ENCLOSURES Item - July 14, 1988 It is respectfully recommended that the City Commission adopt the attached resolution approving Five Hundred Ten Thousand Dollars ($510,000) as the purchase price for the publicly -owned Civic Center site in connection witiz the development of a low density sale housing project planned on the aforementioned parcel. The attached resolution further reaffirms the City Commission's previously approved real property reimbursement alternative for the Civic Center site which provides for said reimbursement to the City to be in the form of a third mortgage, subject to certain terms and conditions. BACKGROUND: The Housing Conservation and Development Agency recommends ratification of the attached resolution approving Five Hundred Ten Thousand Dollars ($510,000) as the purchase price for the publicly -owned Civic Center site, in addition to approving the use of a third mortgage on the subject parcel as the method for reimbursing the City for its land acquisition cost. In January of 1987, the City Commission, through Resolution No. 87-93, designated CODEC, Inc., a not -for -profit community development corporation as sponsor of a ninety-six (96) unit affordable condominium housing project planned on the publicly - owned Civic Center site. The City Commission's designation of CODEC, Inc., as sponsor of the Civic Center project was contingent, amony other things, upon the corporation's ability to secure second mortgage home purchase financing for low and moderate income purchasers through Metropolitan Dade County's Documentary Surtax financed Homeownership Assistance Lean Program. At the June 23., 1988 Dade County Surtax Advisory Council meeting, the project sponsor was successful in securing $1,000,000 in second mortgage financing commitments for the aforementioned project. 88"'sJ i 53.--I Resolution Approving Real Property Price Civic Center Site Page - 2 - While CODEC, Inc. has been successful in securing Dade County Surtax second mortgage financing, it is also necessary that tli-B project sponsor secure both constrscti(:).n and fir-3t mortgage home purchase financing. To date, the project sponsor has also been :Juiui iii 6t C u C iig preliminary cominitments for both construction and first mortgage financing through Flagler Federal Savings and Loan Association of Miami, pending approval by the City Commission of the purchase price for the Civic Center property. At the June 23, 1988 City Commission meeting, representatives of CODEC, Inc. made a personal appearance to request City Commission's approval of establishing $510,000 as tiie recoverable value to the City for conveyance of the subject parcel. Through Motion No. 88-584, the City Commission approved in principle establishing the aforementioned amount a3 reimbursement t.) the City for it's land acquisition cost. City Commission approval of the attached resolution ratifies the City Commission previously assigned. purchase prrice and reimbursement sche:iule for c:)riveysnce of the Civic Center site. City Commission approval of the attached resolution is recommended. 88-6s1