HomeMy WebLinkAboutR-87-06284 0*
J-87-585
6/8/87
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RESOLUTION NO.
A RESOLUTION AUTHORIZING THE USE OF THE CITY -
OWNED CARVER BRANCH -YMCA SITE FOR THE
DEVELOPMENT OF LOW -DENSITY SALES HOUSING
WITHIN THE AFFORDABLE LIMITS OF LOW AND
MODERATE INCOME FAMILIES; FURTHER DESIGNATING
THE CARVER BRANCH -YMCA SITE AS THE
DEMONSTRATION PROJECT WHICH WILL COMMENCE
IMPLEMENTATION OF THE CITY'S SCATTERED SITE
HOUSING DEVELOPMENT AND AFFORDABLE
HOMEOWNERSHIP OPPORTUNITY PROGRAM.
WHEREAS, there exists in the City of Miami, a severe
shortage of homes within the affordability range of families of
low and moderate income; and
WHEREAS, the Commission of the City of Miami has determined
that the existing lack of affordable homeownership opportunities
for low and moderate income families will have a deleterious
effect on the future growth and long range social and economic
health of the City; and
WHEREAS, the City Commission recognizes the necessity to
stimulate the development of sales housing within the
affordability limits and purchasing power of families and
individuals of low and moderate income; and
WHEREAS, in October of 1986, the City Commission approved
implementation of the Scattered Site Housing Development and
Affordable Homeownership Opportunity Program for the purpose of
providing homeownership opportunities to qualified low and
moderate income purchasers in the City's Community Development
Target Areas; and
WHEREAS, the City is in a position to provide homeownership
opportunities to low and moderate income families in the Model
City neighborhood on the City -owned Carver Branch -YMCA site,
capable of supporting seven (7) single family homes, available
for such housing;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The Carver Branch -YMCA site is hereby approved
for the development of sales housing within the affordability
limits and purchasing power of low and moderate income families.
CITY COI:iNUSSION
MEETING OF
JUL 4 19Q,7
RESOLUTION No.
Section 2. The City Commission hereby designates the City -
owned Carver Branch -YMCA site as the demonstration project which
will commence implementation of the City -sponsored Scattered Site
Housing Development and Affordable Homeownership Opportunity
Program.
Section 3. All housing units developed on the site shall be
marketed to low and moderate families whose income are between
50% and 120% of the median income for the Dade County Primary
Metropolitan Statistical Area (PMSA).
PASSED AND ADOPTED this 9th day of July ,
1987.
ATTES
MATTY HIRAI, CITY CLERK
LEGAL REVIEW:
ROBERT F. CLARK
CHIEF DEPUTY CITY ATTORNEY
APPROVED AS TO FROM AND
CORRECTA8S:
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ATTORN
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Ct" CIE MIAMI, 01-A bA
iN?t ,0frFvCE MEMORANDUM
Ell
Honorable Mayor and Members of DAM JUN 171987 r,u:
the City Commission
Reuse of Carver Branch-
subJEct: YMCA Site - 5770 N.W.
15th Avenue
#tom: Cesar H. Odio RempirmcEs: City Commission Agenda
City Manager 60 Item - June 25, 1987
ENCLOSURES:
RECON 14CMDATION:
It is respectfully recommended that the City Commission adopt the
attached resolution approving the use of the City -owned Carver
Branch -YMCA site for- the development of sales housing within the
affordability range of qualified low and moderate income
purchasers. The resolution: further designates the City -owned
Carver Branch -YMCA site as the demonstration project which will
commence imp:,-mentation of the City's Scattered Site Housing
Development ind Affordable Homeownership Opportunity Program.
BACKGROUND
Notwithstanding the shortage of affordable rental housing in the
City, among Miami's greatest needs in the housing area is the need
for sales housing within the affordability range of low and
moderate income families, those with annual incomes ranging from
$15,150 to $35,625.00.
Today, according to the first quarter statistics of the Federal
Home Loan Bank Board, the average price of a new or preowned home
in the Greater Miami market is $93,500. While the average cost of
a home in Greater Miami, is reported to be $93,500, the median
family income in the area is reported by U.S. HUD to be $29,688,
vastly insufficient to support the mortgage related costs
associated with purchase of such a home.
In October of 1986, the City Commission took a major step toward
the ultimate resolution of the City's existing housing
affordability gap in approving implementation of the Scattered Site
Affordable Housing Development Program, which has as its major
objective, City sponsored development of single family homes and
their disposition "at cost" on. an infill basis in the City's
Community Development Target Areas. The City Commission, in
October of 1986 also approved the issuance of $4,290,000 in Special
Obligation Bonds, 1986 Series A, the proceeds of which will be used
As a revolving construction fund for this unique program.
$0 -
87-'f;ti8
r Meuse of Carver Branch -YMCA Site
5770 N.W. 15th Avenue
Page - 2
Last month, the City Commission approved, subject to a public
hearing, the acquisition of thirty-one (31) underutilized home
sites in the Allapattah, Wynwood, and Manor Park neighborhoods, for
development of the planned housing units.
The City is in a position to provide homeownership opportunities to
seven low and/or moderate income families in the Model City
neighborhood by approving a Housing Development and Affordable
Homeownership Opportunity Demonstration Project, which has as its
objective the construction of seven affordable single family homes
on the .S acre City -owned Carver Branch -YMCA site.
In an effort to expedite the development of affordable single
family homes in the Model City neighborhood, it is recommended that
the City Commission approve the use c` the City --owned Carver
Branch -YMCA site for the development ^� affordabl- sales housing
within the economic means of low and moderate income purchasers.
Further designating the site as the demonstration project which
will commence implementation of the City's Scattered Site Housing
Development and Affordable Homeownership Opportunity Program.
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87-62ri
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