HomeMy WebLinkAboutR-87-0142J-87-149
2/11/87
M-86-1020
12/11/86
R-85-457
1/7/87
RESOLUTION NO. 87-142
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, BETWEEN THE CITY OF MIAMI
AND THE BAKEHOUSE ART COMPLEX, INC. WHICH
PROVIDES AN ADDITIONAL NIFTY -FOUR THOUSAND
DOLLARS ($54,000) IN FUNDS IN THE FORM OF A
LOAN FROM TWELFTH (12TH) YEAR COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS, THEREBY
INCREASING THE EXISTING ONE HUNDRED AND FIFTY
THOUSAND DOLLAR ($150,000) LOAN/GRANT
PREVIOUSLY ALLOCATED FOR THE RENOVATION OF A
VACATED BAKERY COMPLEX FOR USE AS A REGIONAL
ARTIST WORKSHOP AND GALLERY.
WHEREAS, the City Commission is committed to economic
development and the expansion of trade and commerce; and
WHEREAS, Resolution No. 85-457 authorized the allocation of
one hundred and fifty thousand dollars ($150,000) to provide for
the renovation of the Bakehouse Art Complex; and
WHEREAS, Metropolitan T)ade County also provided funding in
the amount of one hundred and fifty thousand dollars ($150,000);
and
WHEREAS, approximately eighty percent (80%) of the
renovations has been completed; and
WHEREAS, the project has experienced some severe cost
overruns due to additional extensive electrical work needed as a
result of vandalism at the Complex; and
WHEREAS, Metropolitan Dade County has agreed, in donjunction
with the City of Miami, to allocate an additional fifty-four
thousand dollars to complete the Bakehouse Art Complex; and
CITY COMMISSION
MEETING OF
FEB 12 1987
:SOLurION No. 87. 42
f
MARKS:
WHEREAS, City of Miami Commission approved Motion No. 86-
1020 authorizing the allocation of fifty four thousand dollars
($54,000) as a one time funding to the Bakehouse Art Complex,
with funds from the Twelfth (12th) Year Community Development
Block Grant Funds;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to enter
into a contract If in a form acceptable to the City Attorney, with
the Bakehouse Art Complex, Inc., which provides fifty four
thousand dollars ($54,000) in funds for the continued renovation
of the Bakehouse edifice.
Section 2. The City Manager is hereby authorized to
allocate fifty four thousand dollars ($54,000)2 from the Twelfth
(12th) Year Community Development Block Grant Program (CDBG) for
the additional renovations needed on the complex.
PASSED AND ADOPTED this 12th day of February
1987.
XAVIER L. SUAREK.,JMAYOR
ATTEST:
MATTY HIRAI, CITY CLERK
PREPARED AND APPROVED BY:
ROBERT F. CLERK
CHIEF DEPUTY CITY ATTORNEY
APPROVE)l A)( TO FORM AND CORRECTNESS:
'CIAI A. DOUGH
TY ATTORNEY'
TY
1 This contract provides for a loan at an interest rate of five
percent (5%) with repayment in thirty (30) years, having an
initial two (2) year moratorium period ballooning in seven (7)
years. -
2 This is a vacated Bakery Complex for use as a regional artist
workshop and gallery.
8 7-142
-2-
0
COMMUNITY DEVELOPMENT REVIEW AND APPROVAL:
r'
FRANK C STANEDA, DIRECTOR
DEPARTMENT OF COMMUNITY DEVELOPMENT
_g_
57--142
CITY OF MIAM1. FLORIDA
INTIER•OFFICE MEMCRANCUM
To. Honorable Mayor and Members
of the City Com scion
FROM: ( 1
Cesar H. Odio
City Manager
RECOMMENDATION:
is
DATE:
FILE:
sueJECT; Resolution authorizing
agreement with Bakehouse
Art Complex, Inc.
REFERENCES:
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the
attached' resolution authorizing the execution of an agreement in
substantially the form attached hereto, between the Bakehouse Art
Complex, Inc. and the City of Miami, for the purpose of
completing the renovation of a vacated bakery complex, in the
Wynwood target area, for use as a regional artist workshop and
gallery in accordance with the terms and conditions as set forth
therein.
BACKGROUND:
The Department of Community Development has analyzed the need to
execute the attached agreement with the.Bakehouse Art Complex.
The proposed agreement allocates an additional fifty-four
thousand dollars ($54,000) as approved by Motion No. 86-1020,
Prom the Twelfth Year Community Development Block Grant Fund
(CDBGF). The Bakehousew Arts Complex project was awarded a one
hundred and fifty thousand dollar ($150,000) grant by the City of
Miami as part of its Eleventh (Ilth) Year Community Development
Program. The terms of the new loan allocation will be in
accordance with Metropolitan Dade County's contract terms. Said
loan will be at an interest rate of five percent (5z) amortized
over thirty (30) years, with a two (2) year moratorium which will
balloon in seven (7) years.
These funds will be used to complete the project which has
experienced some severe cost overruns. These overruns are due to
additional architectural and engineering drawings being needed
and more extensive electrical work required because of vandalism
at the complex and the prevailing Davis -Bacon wage requirements
for construction work performed at the complex which also served
to increase construction costs. The Bakehouse Art Complex, Inc.
requires an additional one hundred and eight thousand dollars
.($108,000) to sufficiently complete the project. This will also
enable the organization to. obtain its Certificate of Occupancy
which would allow them to start-up operations and collect rent
from those tenants whom have leased space. The organization has
leased approximately fifty percent (50%.) of the inside studio
space and about fifteen percent (15%) of the outside shed space.
I
8 7-142 .
LA
Honorable Mayor -and Members
of the City Commission
Page 2
Metropolitan Dade County has committed itself to providing fifty
percent (50%) of the funds needed by the Bakehouse Art Complex to
receive its Certificate of Occupancy. This commitment from
Metropolitan Dade County is contingent upon the City's fifty
percent (50%) participation.
The Bakehouse Art Complex, Inc. is an eligible Economic
Development activity under Community Development rules and
regulations, not subject to any cap.
Attachments:
Proposed Resolution
Z
S 7-142