The URL can be used to link to this page

Home My WebLink AboutR-86-0166J-86-230 1 r186-107 (2/13/86) RESOLUTION NO 86-.16y' A RESOLUTION AUTHORIZING THE CITY MANAGER TO AMEND FOR A SECOND TIME, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, THE CONTRACT DATED AUGUST 23, 1985 BETWEEN THE MIAMI-DADE TRADE AND TOURISM COMMISSION, INC. (MDTTC) AND THE CITY OF MIAM1; WHEREBY THE CONTRACT AMOUNT IS INCREASED FROM $37,500 TO $56,250 AND WHEREBY THE CONTRACT EXPIRATION DATE IS EXTENDED FROM JANUARY 31, 1986 TO MAY 1, 1986; FURTHER AUTHORIZING THE CITY MANAGER TO PROVIDE TO THE MDTTC $18,750 FROM MONIES PREVIOUSLY ALLOCATED FOR THE TOURIST INDUSTRY COALITION, AND FURTHER HAVING SAID ALLOCATION SUBJECT TO THE CONDITIONS SET FORTH BY THE CITY COMMISSION IN MOTION NO. 86-107. WHEREAS, the City Commission approved Resolution No. 85- i 853 on July 25, 1985 authorizing the City Manager to execute an agreement in the amount of $18,750 with the Miami Dade Trade and Tourism Commission, Inc. (MDTTC); and WHEREAS, the City Manager executed a contract with the MDTTC on August 23, 1985; and the City Commission approved Resolution No. 85- 1151 on November 26, 1985 authorizing the City Manager to amend the contract dated August 23, 1985 whereby the contract amount was increased from $18,750 to $37,500 and whereby the contract expiration date was extended from October 31, 1985 to January 31, 1986; and WHEREAS, the City Manager executed Amendment No. 1 to the contract dated August 23, 1985 with the MDTTC on January 7, 1986; WHEREAS, on February 13, 1986 the City Commission adopted Motion No. 86-107 authorizing the City Manager to fund the MDTTC for the second quarter of 1986 or unti 1 May 1, 1986 from monies previously allocated for the Tourist Industry Coalition; and WHEREAS, by the same Motion No. 86-107, the City Commission further stipulated that the above funding is subject to the MDTTC providing a list of accomplishments of their work and the audit of their operations for the past year being completed; and WHEREAS, the City Commission wishes to continue to support the activities of the MDTTC; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The City Manager is hereby authorized to amend for a second time, in a form acceptable to the City Attorney, the contract dated August 23, 1985 between the Miami Dade Trade and Tourism Commission, Inc. (MDTTC) and the City of Miami whereby the contract amount is increased from $37,500 to $56,250 and whereby the expiration date is extended from January 31, 1986 to May 1, 1986. Section 2. The City Manager is hereby authorize to provide to the MDTTC $18,750 from monies previously allocated for the Tourist Industry Council. Section 3. The MDDTC must meet the condtions set forth by the City Commission in Motion No. 86-107 and as follows a. To prepare a list of all accomplishment that can be attributed to their work. -2- 86-166- - 11 A b. To have a complete audit made of their operation for the last year. PASSED AND ADOPTED this 27th day of FEBRUARY 1986. r' ATTEST: *AI, (;I1Y GIERK 'fH I t- —0, 1 �- PREPARED AND APPROVED BY: p-e�.r /.��9c APPROVED AS TO FORM AND CORRECTNESS: -3- -. A RESOLUTION AUTHORIZIN THE CITY MANAGER TO AMEND (fOR A SECOND TIME N A FORM ACCEPTABLE TO THE CITY ATTORNEY TH' CONTRACT DATED AUGUST 23, 1985, BETWEEN THE MIAMI-DADE TRADE AND TOURISM COMMISSION, INC., (MDTTC) AND THE CITY OF MIAMI; WHEREBY THE CONTRACT AMOUNT IS INCREASED FROM $37,500 TO $56,250 AND WHEREBY THE CONTRACT EXPIRATION DATE IS EXTENDED FROM JANUARY 31, 1985, TO MAY 1, 1986; FURTHER AUTHORIZING THE CITY MANAGER TO PROVIDE Q#tr,#Wl fW " THE MDTTC $18,750 FROM MONIES PREVIOUSLY ALLOCATED FROM THE TOURIST INDUSTRY COALI- TION; AND FURTHER HAVING SAID ALLOCATION SUBJECT TO CONDITIONS SET FORTH BY THE CITY COMMISSION IN MOTION NO. 86-107. O . LAN Orr' CES • GREENBERG, TRAURIG. ASKEW, HOFFMAN, LIPOFF, ROSEN tic QUENTEL, P. A. CHAEL O ALSERTINE VFIINANOC) A -AN S GOLD C ALONSO -AP`;EY A GOLDMAN M CESARL ALV AAEZ oRUDOLAH r ARAGON SrEvEN E GOLD -AN STE':EN M GOLDSMI'H PIC-APO A ARKIN MATT.rEW B GOPSDN PEUBIN O O ASKEW DIANNE GREENBERG KEPRI L BARS. MELVIN N GREENBERG HILAPIE BASS MAPILYN O GREENBLATT ALYSSA M BAUMGARTEN ROBERTL GROSSMAN PICHARD D BAXTER KENNETH C HOrFMAN NORMAN J BENFORO LARRY J +-IOrFMAN SCOTT M BERNSTEIN MARCOS D JIMENEZ MARX D BLOOM MARTIN KALB BURT BRUTON ROBERTA KAPLAN SIEVE BULLOCK JOELJ KARR ROBERT A BURLINGTON JUDITH KENNEY J RHILLIP CARVER TIMOTHY E KISH ALAN P CHASE ALAN B KOSLOW SUE M COBB STEVEN J KRAVITZ KENDALL B COFFEY STEVEN A LANDY KATHY A. DAPASZ ALLEN P LANGJAHP MARK 8 DAVIS ALAN S LEDERMAN JErFREY D OE CARLO JEFrREY A LEVEY OSCAR G OE LA GUARDIA LAWRENCE B LEVY ALAN T DIMOND NORMAN H LIPOrr CHARLES W EDGAR. III CARLOS E LOUMIET GARY M EPSTEIN JUAN P LOUMIET THOMAS K EOUELS MICHAEL J MARCHESE DIANE O FERRARO PEDRO A MARTIN LAURA A GANGEMI ,JAY A MARTUS RICHARD G GARRETT JOEL O MASER BRIAN K GART ALICIA M MORALES DAVID J GAYNOR ANTHONY J O DONNELL. .,R LAWRENCE GOOOFSKY JULIE A OLDEHOrr CEBS�E " 7PSHErSK1 AMBLER H MOSS JP MARK A PAC.+MAN ZAC"AMv H AOLFF STEVEN J PARDO CF CC�NSEL OLGA PARKA MAPSHALL R PASTEPNACK M•AM' OrrICE SYPON G PETERSEN BPICKELL CONCOUPS ALBERT D OUENTEL JOEL PEINSTEIN 1401 SPICKELL AVENUE MARK J REISMAN MIAMI rLOPIDA 33131 LUIS REITER TELEPHONES NICHOLAS ROCKWELL MIAMI (305) 579 0500 RAOUEL A ROOPIGUEZ BROwaPD (305) 523 8111 •.MARVIN 5 POSEN `ELEX 80 3124 RICHAPO A ROSENBAUM TELECOPr (305) 579.0718 • 579.0717 RONALD M POSENGAPTEN DAVID L ROSS POBEPT D RUBIN WEST PALM BEACH OrrICE KAPEN D RUNDOUIST IOD SOUTH DIXIE HIGHWAY STEVEN T SAMIL..AN WEST PALM BEACH. FLORIDA 33401 GARY A SAUL (3051 659 6333 CLIrrORD A SCHULMAN TELECOPY (3051 699.6354 MARLENE K SILVERMAN STUART H SINGER TIMOTHY A SMITH BPOWARO OFFICE LAURA P STEPHENSON SUITE 1650 SAMUEL SUS' I0 EAST BROWARD BOULEVARD GARY P TIMIN FORT LAUDERDALE. rLOPIOA 33301 POSERT H TRAuPIG (305) 765-0500 MARIANNE A VOS TELECOPY (305) 765 • 1477 JONATHAN H WARNER DAVID M WELLS JERROLD A WISH WRITERS DIRECT NO TIMOTHY O WOLFE SHEILA F WOLrSON 579-0613 PLEASE REPLY TO: MIAMI 01rf'ICE February 27, 1986 The Honorable Mayor and Members of the City Commission City of Miami City Hall 3500 Pan American Drive Miami, Florida 33133 Re: Claughton Island Developers - Housing Motion M-86-61 Dear Honorable Mayor and Members of the City Commission: This letter will inform you of the fact that Swire Biscayne Inc (Swire) pursuant to the terms of the above -noted Motion, has delivered to East Little Havana Community Development Corporation (ELHCDC) and Tacolcy Economic Development Corporation (TEDC) two (2) checks in the amount of $1,600,000.00 each pursuant to Escrow Agreements by and between those entities, Swire and Homes for South Florida, Inc. (HSF) as Escrow Agent. Copies of those checks are enclosed for your reference. Approximately four (4) weeks ago, Swire delivered a copy of its contract for the Vizcaya Metrorail Site to the City Attorney which showed its commitment to that site as previously noted to you at your meeting of January 23, 1986. 8E;-1ti The Honorable Mayor and Members of the City Commission February 27, 1986 Page Two If you have any questions regarding this matter, please do not hesitate to call me. Yours very truly, 61RGB"ERTTUH.- 1TrU4R6IjG RHT/tr Enclosures CC: Lucia Dougherty, Esquire Mr. Cesar Odio GREENSERG, TRAURIG, ASKEW, HOFFMAN, UPOFF, ROSEN & OUENTr-L, P. A. DATTFCHECKNO. VENDOR SWIRE FINANCIAL SERVICES INC09186 2-26-860 TACOLCY ECONOMIC DEVELOPMENT CORP- IASAGENT) GROOUNT INVOICE DATE NUMBER PAID AS AGENT FORPROJECT $1,600,0 2_26_86 SWIRE BISCAYNE INC. CD I C1J SWIRE FINANCIAL SERVICES INC AS AGENT DELIVERED PURSUANT TO AN ESCROW AGREEMENT WITH HOMES FOR SOUTH FLORIDA, INC. DATED 2-26-86 AND THE CITY OF MIAMI COMMISSION MOTION M-B6-�outheast Bank, N.A. 6660 iAM } ft�'ORID pi jBAWIN� CJNRR PAY�:....r SWIRE TOTHE • ORDER TACOtCY ECONOMIC DEVELOPMENT CORPORATION By OF 4� 002990 SORT NO. GATE NUMBER 2-26-86 002990 $1,600,000. 00- 11•00 29908• 1:066000 sa L1: 0 L8 b: i$ 7611, INC VENDOR ISWIRE FINANCIAL SERVICES INC 09187 EAST LITTLE HAVANA COMM PITY DEVELOPMENTS600L INVOICE DATE NUMBER I PAID AS AGENT FOR PROJECT 2-26-86 SWIRE BISCAYNE INC. SWIRE FINANCIAL SERVICES INC AS AGENT DELIVERED PURSUANT TO AN ESCROW AGREEMENT WITH HOMES FOR SOUTH FLORIDA INC. DATED 2-26-86 AND THE CITY OF MIAMI COMMISSION MOTION M-86-6�outheast Bank, N.A. 658 iRl DOWNTOWN BANKING CENTER MAMI. FLORIDA 33131 PAY 1,600,000d..o�300c To SWIRE Fly THE ORDEREAST LITTLE HAVANA COMMUNITY DEVELOPMENT OF CORPORATION By DATE CHECK N0. 002991 GROSS DISCOUNT $1,600,000.00 002991 SORT No. DATE NUMBER 2-26-86 002991 1$1,600,00=0.00* SEFjXICES INC I1000 299 1no 1:0660005B LI: 0113 4 L L8?611' CITY OF MIAMI. FLORIDA ADDITIONAL INFORMATION AGENDA ITEM #10 ro. Honorable Miller J. Dawkins Vice Mayor FRO 'Cesar H. Odic r V City Manager R c-cRFNCas Ersc,-osun Es. February 24, 1986 " Response to Claughton Island inquiry This responds to your request for infor-nation on the specifics of the agreement reached on January 23, 1986, between the Claughton Island interests and the City Commission with respect to the development c4 affordable housing in the City r of ;ni ami. The estimated development costs, debt service, and rent (or mortage payment) requirements of the two housing developments to be sponsored by Taccicy Economic Development Corporation and the East Little Eavana Development Corporation are as follows: A) TACOLCY ECONOMIC DEVELOPMENT CCRPOP-: PION PROJECT I. T-.rpe of Project: Rental 2. Number of units: 121 3. Unit mix: One bedroom units: 90 Two bedroom units: 31 4. Unit rents: One bedroom units:, $335 Two bedroom units:* $360 5. Total development cost: $5,682.822 6. Debt service requirements: $251,094 The Tacolcy Economic Development Corporation has advised that the above cost projections are preliminary pending the completion of project design and financing arrangements. Tacolcy Economic Development Corporation's project will be financed through loans provided by Equitable and the Ford Foundation. Project debt financing requirements will be reduced through the provision of 1.6 million dollars by Swire Biscayne as per the January 23rd agreement. SC-101- i Dade County has tentively agreed to provide a portion of the county - owned Shell's City site to the Tacolcy Economic Development i Corporation at no cost for the purpose of developing the project. The completion date for the project has yet to be determined. Tacolcy Economic Development estimates that the project will be completed within 12-18 months. B. EAST LITTLE HAVANA DEVELOPMENT CORPORATION PROJECT 1. Type of project: Homeownership 2. Number of units: ill 3. Unit mix: One bedroom units: 23 Two bedroom units: 88 4. Unit prices: one bedroom units: $37,500 two bedroom units: $44,000 5. Monthly mortgage payments: one bedroom units: $276 two bedroom units: $295 6. Total development cost: $5,400,000 Of the total development cost (see 6 above) land accounts for $750,000. Monthly mortgage payments (see 5. above) which include principal, interest, taxes, insurance, and association fees, are the result of tandem mortgages provided by commercial first mortgage lenders and the surtax program through which deferred second mortgage financing will be provided The completion date for the project. has yet to be established. However, the East Little Havana Development Corporation has indicated that the project will be completed within 12-18 months of finalization of plans, specifications, and project financing. The East Little Havana Development Authority has emphasized that the above projected costs are approximate and subject to some degree of change pending finalization of project plans and financing. Swire Biscayne, Inc. will be contributing 1.6 million dollars to the East Little Havana Development Corporation in the financing of the project. :y I Both of the non-profit neighborhood development corporations have been asked to attend the February 27th City Commission meeting to answer any other questions you may have regarding the proposed developments. The Swire Biscayne Viscaya Project which you have also inquired about will be a 104 unit condominium project consisting of 80 two bedroom and 24 one bedroom units. Swire .Biscayne has indicated that the total cost of developing the project is estimated to be $6,253,000 and the projected sell -out to be $5,357,000. The firm will experience an $096,0O0 loss on the project if these estimates are correct. Representatives of Swire Biscayne have been asked to attend the February 27th Commission meeting to answer any cuestions you may have CuO/JG/mc cc: Honorable Mayor and Members of the City Commission