HomeMy WebLinkAboutR-86-0169a
J-86-250r
2/ 27/86
RESOLUTION NO.
A RESOLUTION OF THE CITY OF MIAMI COMMISSION
APPROVING THREE LOCATIONS, PRESEN,rED TO THE
CITY COMMISSION BY DEVELOPERS IN CONNECTION
WITH MODERATE. AFFORDABLE INCOME HOUSING
DEVELOPMENT OFF CLAUGHTON ISLAND, AND
IDEN`l'IFIED AS FOLLOWS: "(1) THE SHELL CITY
SITE, (2) THE EAST LITTLER HAVANA SITE, AND
(3) THE V.IZCAYA METRORAIL SITE," PURSUANT TO
R-85-812; ACCEPTING SAID SITES SUBJECT rU
TENDER BY CLAUGHTON ISLAND DEVELOPERS OF
THREE MILLION TWO HUNDRED THOUSAND DOLLARS
($3,200,000) IN CASH, TO BE EQUALLY
DISTRIBUTED BETWEEN THE SHELL CITY SITE AND
EAST LITTLE HAVANA SITE DEVELOPMENT TEAMS;
FURTHER, REQUIRING CLAUGHTON ISLAND
DEVELOPERS TJ ASSUME THE OBLIGATION TO
PURCHASE AND SUBSEQUENTLY SEE OR RENT, AS
LOW/MODERATE INCOME AFFORDABLE HOUSING, UPON
DELIVERY FROM THE CONTRACTOR, 104 HOUSING
UNITS AT THE "VIZCAYA METRORAIL" SITW,;
PROVIDING FOR RELEASE OF DEVELOPER'S
OBLIGATIONS UPON FULFILLMENT OF ALL PH
PREVIOUSLY STATED OBLIGATIONS.
WHEREAS, the City of Miami through enactment of Resolution
No. 75-135 did enter a Development Order for the development of
Claughton Island; and
WHEREAS, by Resolution No. 75-423 the City Commission did
approve the execution of a stipulation for settlement of an
appeal
taken by
the South
Florida
Regional Planning Council
(SFRPC)
of that
Development
Order and
made additional provisions
for the construction of 200 units of low-income housing on
Claughton Island; and
WHEREAS, by the enactment of Resolution No. 85-812, the City
Commission did extend the time for performance of said
obligations by Claughton Island Developers, and allowed the
developers certain options to provide for development of. said 200
units on the Island or, alternatively, 225 moderate -affordable
housing units off of Claughton Island at certain sites within the
City of Miami, subject to City Commission review and approval of
such sites; and
WHEREAS, Claughton Island Developers have requested site
location approvals pursuant to Resolution No. 85-812 and said
sites were approved, in principle, subject to certain conditions
by the passage of Motion No. 86-61 of the City Commission on the
23rd day of January, 1986; and ('fft CONNISSION
M'eETIF: C; ti.. • .
FEB 27 1986
A AYTION ito
mlp-nae
14
WHEREAS, the Commission wishes to formalize said approval by
the enactment of this Resolution:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF MIAM I, FLORIDA:
Section 1. The Commission hereby approves the following
sites as are more particularly described in Claughton Island
Developers' letter and exhibit submittal dated January 16, 1986,
which was part of the record before the Commission for the
construction of moderate -affordable housing units as set Eorth in
Resolution No. 85-812:
( a) The Shell City Site;
(b) The East Little Havana Site; and
(c) The Vizcaya Metrorail Site.
Section 2. Claughton Island Developers' obligations to
provide such housing shall be released by the City for the number,
of units planned for such sites as follows:
(a) Upon Claughton Island Developers' transmittal
to an escrow agent for the benefit of the
particular site's Community Development
Corporation (CDC) $3.2 million to be
earmarked for the development of such units
on the Shell City Site and the East Little
Havana Site (50% of said monies for each
site) and held in trust by the escrow agent
subject to disbursement to the particular
developers of said units on said sites upon
satisfactory assurance, acceptable to the
City Commission, that said monies will solely
be used for the above -noted intended purpose
and subject to: (1) the approval by the City
Commission, within fifteen days, of a
construction disbursement schedule that will
be submitted by each CDC for the funds
earmarked for construction of such units; (2)
twenty percent of such funds being withheld
from disbursement to each CDC by the escrow
agent until the completion of said units to
the satisfaction of the City; and (3) the
interest earned on such funds shall be
payable to the City of Miami.
(b) As to the Viscaya Metrorail Site, Claughton
Island Developers shall only be released from
the obligations set forth in their above -
noted proposal upon submission to the City
Manager and City Attorney of such
documentation evidencing Claughton Island
Developers' commitment and obligation and
contract with the proposed developers of said
site for the acquisition of said site and 104
housing units planned therefor, upon
completion, and for the marketing for sale or
rental of the proposed units on the site by
Claughton Island Developers.
-2-
SC-10" S.
PASSED AND ADOPTED this 27t-h day of FFD,RLIARV ► 1986.
XAVIER SUARE I, MAYOR
A'P S
MA Y HIRAI
CITY CLERK
PREPARED AND APPROVED BY:
I. ," 7 ),- /'., (
;JOgL E. MAXWELL
ASSISTANT CITY ATTORNEY
J
APPROVER AS TO FORM AND CORRECTNESS:
L IA A. DOUMPTY j
CITY ATTORNEY
JEM/wpc/ab/P009
86-169-
4 CITY OF MIAMI, FLORIDA �� W
r INTEk-OFFICE MEMORANDUM
TO Matty Hirai
City lerk
FROM err D. Ge eaux, Director
no ing Co serva ion and
Deyelopmen Age cy
DATE March 17, 1987 FILE
suBJECT Claughton Island
Housing Project
REFERENCES Rio Plaza �•
Condominiums
EN _-I.OSLfRFS
In February of 1986, the City Commission through Resolution No.
86-169, designated Tacolcy Economic Development Corporation and
the East Little Havana Development Corporation as project
sponsors for the development of approximately 235 units of
housing affordable to low and moderate income families in the
Model City and East Little Havana neighborhoods.
Pursuant to Resolution No. 86-341, Section 1(c), all construction
contracts are to be awarded by the developers only after
compliance with the City's competitive bidding procedures
including the submission of all bids to the City Clerk.
This memorandum serves to inform you that sealed proposals for
the furnishing of all labor, materials, and equipment.for-the
.
above referenced housing development are scheduled to be' -----,,,
submitted to the City Clerk's office on March 24,19$7-,.
Transmitted herewith is a copy of the Invit i-on o Submit��'
Proposals which appeared in the Miami Review on March-,--398-7-.----
If you have any questions regarding the above mentioned subject,
please contact Jeff Hepburn, Assistant Director at extension
3336.
JDG/jr
Attachment
cc: Jeffery B. Hepburn, Assistant Director
4:
r,IAMI REVIEW • MARCH 2. 1987
.38 spl revolver undercover, sin NOTICE OF ADMINISTRATION NOTICE OF ACTION NOTICE OF ADMINISTRATION el sect, I sl
624442, 1 Glenfield, rifle, mod. 25, IN THE CIRCUIT COURT FOR ublir vem:
IN THE CIRCUIT COURT FOR /B No. 404281 � p
.22 cal , sin 19702925, 1 Rohm, 38 DADE COUNTY, FLORIDA IN THE CIRCUIT COURT OF THE DADE COUNTY. FLORIDA Courlhou o
cal special, revolver, sin 132849, PROBATE DIVISION ELEVENTH JUDICIAi. CIRCUIT PROBATE DIVISION ! the 27 day
1 Marlin Glenfleld, mod 75, rifle, File Number 87.489 IN AND FOR DADE COUNTY,' Fite Number 87 1062 Noon, prnv
IRAT10N 22 cal, sin 25297625 were seized Division PROBATE FLORIDA I Division 02 Ing real w.,
IRT FOR in Dade Co • FL for violation of IN RE ESTATE OF FAMILY DIVISION I IN RE ESTATE OF ; being in tht
IIDA Title 18 USC• Chap y per. EUGENE S. FRANKEL CASE NO 87.08860 — 16
44 An LIPPMAN BERKOWITZ of Florid i
son claiming an interest In the Deceased IN RE The Marriage Of I Deceased desc.rit,od
Said property may file a petition The administration of the estate ARCHANGE CHARLES, The administration of the estate 3• HYDI Pt
lot remission ormitigation of for. of EUGENE S. FRANKEL, Husband, of LIPPMAN BERKOWITZ• Ing to the I
feiture, or file a claim and deliver a deceased, File Number 87.489, is and deceased. File Number 87.1062, in Plat Boos
cost bond, with the undersigned, pending In the Circuit Court for ANDREA M BROWN, is pending in the Circuit Court for Public Recc
Dade Count DADE County, Florida, Probate Florida The
on or before 411187, otherwise the Y. Florida, Probate Wife. I
property will be forfeited and dis. Division, the address of which is TO ANDREA M. BROWN Division, the address of which is to satisfy it
he estate posed of according to law Surety 73 West Flogler Street, Miami, Residence Unknown 73 West Flogler Street, Miami, FL judgment en
Ised, File for the claim and cost bond should Florida. The names and addresses YOU ARE HEREBY NOTIFIED 33130. The names and addresses l with intere
Ing In the be made payable to the Clerk of of the personal representative and that a petiton for dissolution of of the personal representative and costs of it
i County, the United States District Court the personal representative's marriage has been commenced the personal representative'slapproximate
;Ion, the and mailed 10 the Bureau of Alco• attorney are set forth below. and filed in this Court and you are attorney are set forth below Dollars ($70
73 West hol, Tobacco and Firearms, Chief All interested persons are required to serve a copy of your All interested persons are conditions o
Florida Planning and Analysis, ATTW required to file with this court, written defenses, if any, to it on required to file with this court, follows a T
ddresses SEIZED PROPERTY, 1200 Penn. WITHIN THREE MONTHS OF THE HARRY E. GEISSINGER, III, Alloy WITHIN THREE MONTHS OF THE sold as a w
alive and sylvania Avenue NW., Washington, FIRST PUBLICATION OF THIS ney for Husband, at Suite 201 at FIRST PUBLICATION OF THISi parcels at
itative's DC 20226, The amount of the cost NOTICE: (11 all claims against the 415 West 51st Place, Hialeah, Flor• NOTICE: (1) all claims against the; County Court
ow. bond Is $2,500, unless the prop- estate and (2) any objection by an Ida — 33012, and file the original estate and 12) any objection by an within wh+ct
one are arty is a vehicle, vessel or aircraft interested person to whom this with the Clerk of the above enti• interested person on whom this , thereof is loy
s court, seized under Title 49 U S.C., Chap notice was mailed that challenges tled Court on or before April 3, notice was served that challenges I States may t
OF THE ter 11, and then the cost bond the validity of the will, the quali• 1987; otherwise a default will be the validity of the will, the quali- i its judgment
IF THIS should be In the amount of $2.500 fications of the personal repre• entered against you for the relief fications of the personal repre-; on, plus co:
rjnst the or 10 percent of the value of the sentative, venue, or jurisdiction of prayed for in the petition. sentative, venue, or jurisdiction of without tend
m by an claimed properly, whichever is the court. This notice shall be published the court. j vided by Till,
om this lower• but not less than $250. (I.N. ALL CLAIMS AND OBJECTIONS once each week for four consec• ALL CLAIMS AND OBJECTIONS I Code, Sectioi
sllenges 13222.83.2556V) NOT SO FILED WILL BE FOR. utive weeks in the MIAMI REVIEW. NOT SO FILED WILL BE FOR. of sale as to .
ie quali• 312.9.16 87-030204M EVER BARRED. Witness my hand and seal of EVER BARRED j parties bidden
I repre• Publication of this Notice has said Court at Miami, Florida, this Publication of this Notice has successiul b
ction of NOTICE OF ACTION begun on March 2, 1987. 27 day of February, 1987 begun on March 2. 1987. chaser" here -
CONSTRUCTIVE SERVICE Personal Representative: RICHARD P. BRINKER Personal Representative Ito deposit wit
CTIONS IN THE CIRCUIT COURT OF THE BLOSSOM K. FRANKEL As Clerk, Circuit Court ETHEL PINCUS , Marshal cash
E FOR. ELEVENTH JUDICIAL CIRCUIT 204 Poinciana Island Drive (Circuit Court Seal) 5 Pudding Lane cent (200.) of
OF FLORIDA, IN AND FOR DADE Miami, Florida By: T. CASAMAYOR Dix Hills, NY 11746 I diately upon I
ice has COUNTY. Attorney for Personal As Deputy Clerk Attorney for Personal struck off and
CIVIL ACTION NO. 87-07614 (05) Representative: 3/2.9.16-23 87.030281M Representative I the highest an
Ive IN RE: THE MARRIAGE OF RONALD E. TEMKIN Michael A. Drlbin j the remainin
N BARBARA DIAZ, 800 E. Hallandale Beach Blvd., Ma NOTICE FL BAR NO. 205656 1(8000) of the vi
Petitioner, Hallandale, FL 33009 IN THE CIRCUIT COURT OF THE Broad and Cassel be paid to the
and Telephone: (305) 947.2726 ELEVENTH JUDICIAL CIRCUIT One Biscayne Tower steal within Ihirt•
JOSE EVER DIAZ, 312.9 87.030283M 2 S. Biscayne Blvd. notice to put
Respondent. IN AND FOR DADE COUNTY, y
NOTICE BY PUBLICATION FLORIDA Miami, FL 33131 l U n i t e d S1,I r
TO: Jose Ever Diaz NOTICE Off ACTION FAMILY DIVISION Telephone (305) 371.9100 , received a G,-+r
Residence Unknown IN THE CIRCUIT COURT OF THE NO. 86.54961 FC 11 312 9 87.030214M Order Confirmlt
YOU ARE HEREBY NOTIFIED ' 11TH JUDICIAL CIRCUIT IN IN RE. THE MARRIAGE OF -pared to deliv,
84 that a petition for Dissolution of AND FOR DADE COUNTY, ELOUISE A. BELL, INVITATION TO deed to the prn:
IMarrlsgs has been filed and com• FLORIDA Petitioner SUBMIT PROPOSALS :place speciftetf
)277M menced in this court and you are CASE NO 87-03236 (24) and I shall be liable f
required to serve a copy of your IN RE: THE MARRIAGE OF JOE A. BELL, Sealed proposals for furnishing purchase mot
TION Irequi a defenses, It any, to it on Nohra Lasprilla Bradley Respondent all labor, materials and equipment i attents and ter
FOR BRAD I. SCHAes. It a ESQUIRE, Petitioner, YOU JOE A. BELL, Residence for the following project will be ; such time and p
attorney for Petitioner, whose and and Mailing Address UNKNOWN received in the Office of the City! case he neqler
address Is or P S.W. Petitioner,
104tStreet, Jose Fernando Suarez are hereby notified to file your Clerk. City of Miami, Miami City deed and pay I
address
Florida 33178, and file the Respondent. Answer to the Petition for Dtsso• Hall -First Floor. 3500 Pan Amen. I purchase money
original with the clerk of the above TO: Jose Fernando Suarez lution of Marriage with the Clerk can Drive, Dinner Key. Miami, Flor- United States A
styled court on or before April 3rd, Residence Unknown of the Court and mall a copy to Ida 33133, up to 2 00 p.m. Local the option of eit
1987; otherwise •default will be YOU ARE NOTIFIED that an the Petitioner's Attorney CINDY Time, March 24, 1987 the property anc
relief action for dissolution of marriage D. SACKRIN, LEGAL AID SOCIE• or of proceedin
entered against you for the reli
state preyed for in the complaint of has been filed against you and TY, DADE COUNTY BAR ASSN., DESCRIPTION: Rioplaza Purchaser to cc
or
ised, petition. you are required to serve a copy III N.W. 151 Ave., Suite 117. Condominiums, 2 six story build• chase. and in tho
of Miami, Fla. 33128 on or before the i^ s, 114 condominium units S W. if property shzi
rding This notice shell be published Your written defenses, it any, 9
:oun• once each week for four consec• to it on Nora Lasprilla Bradley, 3rd day April 1987; or this Petition 1st. Street and 51h. Avenue, Miami, sum that the for
the olive weeks In MIAMI REVIEW AND Petitioner, whose address Is 8875 for Dissolution of Marriage filed Florida. and expenses. it
Meat DAILY RECORD. B Fontainebleau Blvd. Apt. 101, against you will be taken as be held liable fo
irlda WITNESS my hand and the seal Miami, Fla. 33172, on or before confessed. ARCHITECT: Rodriguez Khuly but if it should 1
sses of said court at Miami, Florida on April 3rd, 1987. and file the origi. DATED this 26th day of Feb. Quiroga Architects, 4440 Ponce sum than the tort
and this 26th day of Feb., 1987. nal with the clerk of this court 1987. de Leon Blvd., Coral Gables, Flor• and expenses, IN
ve's RICHARD P. BRINKER, either before service on Petitioner RICHARD P. BRINKER ida (305) 448.7417. Contact Tony not receive any
As Clerk, Circuit Court or immediately thereafter; other. CLERK OF CIRCUIT COURT Quiroga for any questions, e. The bidding w
are Dade County, Florida wise a default will be entered (Circuit Court Seal) between the hours of 9:00 a.m after the properl
Wit, (Circuit Court Seal) against you for the relief By BARBARA RODRIGUEZ and 12:00 noon. until the success
THE By BARBARA RODRIGUEZ demanded In the petition. Deputy Clerk pletes the certifi
HIS As Deputy Clerk DATED this 26th day of Feb., 312.9.16.23 67-030242M The proposal shall be placed in to this Notice of '
the Attorney for Petitioner: 1987. a sealed envelope in accordance Its twenty percer
I an BRAD 1. SCHANDLER, ESQUIRE , NOTICE O/ ACTION
RICHARD P. BRINKERClerk with the provisions described in bid price with IN
this 10725 S.W. 1041h SlrNt ) CONSTRUCTIVE SERVICE (Circuit Court Seal the Instructions to Bidders, and Marshal in the lot
lies Miami, Florida 33176 BY BARBARA RODRIGUEZ shall be entitled Proposal for tilled check t ce
(NO PROP[RT1l)
rail• DEPUTY CLERK "RIOPLAZA CONDOMINIUMS". the event that the
(Phone) (305) 274.2100 IN THE CIRCUIT COURT IR THE to Comply 3!? 9 16.23 87-030229M P Y with my
ors 3l29 t623 87-030240M ELEVENTH JUDICIAL CIRCUIT DADEEOUNTY. One set of documents may be terms of the sat
NOTICE 0/ ACTION NOTICE O/ ADMINISTRATION D
01FLORIDA, IN AND FOR obtained between the hours of Slates Marshal, at MIS IN THE CIRCUIT COURT OF THE IN THE CIRCUIT COURT FOR CIVIL ACTION NO. 87-08832-27 9:p0 a.magain immediate
. the Architect after and 5:00 p.m., al the the premises for sale
)R• ELEVENTH JUDICIAL CIRCUIT DADE COUNTY, FLORIDA FAMILY DIVISION office of
OF FLORIDA. IN AND FOR PROBATE DIVISION IN RE: THE MARRIAGE OF noon March 2, 1987 by depositing bids had yet been r,
tss DADE COUNTY File Number 87.281 JANINE CABAJ, $100.00 in check or money order i announce that tht
GENERAL JURISDICTION Division03 Petitioner, made payable to East Littlelbe readvertised an
DIVISION IN RE: ESTATE OF and Havana Housing Venture. Deposit I for sale at a later ci
CASE N0. 86.40084 (14) BETTY MALTZMAN MICHAEL CABAJ, left with architect will be refunded the same condition
IN RE: FORFEITURE OF THE Deceased Respondent upon return of documents in good inal purchaser shal
FOLLOWING DESCRIBED The administration of the estate NOTICE FOR condition within seven days all for any deficiency
PROPERTY: of Betty Maltsman, deceased, File DISSOLUTION OF MARRIAGE receipt of proposal. receive the bey
THIRTY-THREE THOUSAND, Number 87.207, Is pending in the TO' MICHAEL CABAJ increased bid 1. Th.
ONE HUNDRED FORTY-NINE Circuit Court for Dade County, , Set Soulhi►lew Circle Proposal shall include all items "he", "his", "him".
DOLLARS ($33,149) IN U-S Florida, Probate Division, the Fayetteville. N.C. 28301 listed on the Form For Proposal, Purchaser shall be
CURRENCY address of which is 73 West YOU ARE HEREBY NOTIFIED furnished by the Architect. to one or more Ind
THREE THOUSAND, SIX HUN• Flogler Street, Miami. Florida that a petition for Dissolution of or female, or a corm
DRED DOLLARS ($3,600) IN U S 33130. The names and addresses your Marriage has been filed and The Owner, East Little Havana porations g. The pi
M CURRENCY of the personal representative and commenced in this court and you Housing Venture, retains the right be liable for any and
— TO: Maria Machado the personal representative's are required to sere a copy of
to waive any Intormaltlies and to Lary stamps that m;.,
A. Residence Unknown attorney are set forth below. your written defenses, if any, to it accept or reject any or all bids, by any law h. It no of
L. YOU ARE HEREBY NOTIFIED All interested persons are on L.AWRENCE C. RICE, ESO., regardless of dollar amount of bid been tiled in writing
in that a forfeiture action has been required to file with this court, attorney for Petitioner, whose 312 67.330206M with the Clerk of the
:o filed against the above -described WITHIN THREE MONTHS OF THE address is Stifle 509, I Paton Can. mfifteen t15i rip.,. "
property by Metropolitan Dade FIRST PUBLICATION OF THIS ,.. e.nntr• 1--
----------
-�--
`0"l
Mr. Cesar Odio
City Manager
-o..Miller J . Dawkins
Vice -Mayor
CITY OF MIAMI. FLOMIOA
IPIT3?-Ct'FICZ" hIZMCRAN:)'J%A
February 3, .1986
AGENDA ITEM FOR
2/27/86 COMMISSION MEETING
REFERENCES:
ENCLOSURES:
i Please schedule the Claughton Island housing issue to be revisited on the
February 27th Commission meeting. At that time, I would like for the
two groups that were awarded 51.6 million to build the housing units to
report on the progress made by each of them, so far, in obtaining the
additional monies needed to fund the building of the housing units
proposed.
I will be sending a memorandum to my fellow Commissioners stating my
concerns about the deal offered by the Claughton Island group which
does not ensure that any housing units will be built.
gf
cc: Honorable Mayor b
Commission (Members
Robert Traurig
Otis Pitts
East Little Havana Community
Development. Corp.
0
SC-110
10
- -- - -
FWW
CITY OF WA,W. FLOR10A
N ADDITIONAL INFORMATION
�T�R CF=1C� NIENIOPANCUvI
AGENDA ITEM #10
ro
Honorable Miller J. Dawkins February 24, 1986 `-
Vice Mayor
SU.3-E_-
Response to Clauchton
Island inquiry
FRo:Cesar H. Odic)
City Manager
er
/=rctiosuQEs.
This responds to your request for information on the specifics of the
agreement reached on ianuary 23, 1986, between the Clauchton Island
=nterests and the City Commission with respect to the develo_ment Oi
affordable housing in the City of Miami.
The es-:Lmated development costs, debt service, and, rent (or mor-aace
payment) requirements or the two housing developments to be sponsored
by Tacolcy Economic Development Corporation and the East Little
Havana Development Corporation are as follows:
A) TACOLC`: ECOtTOMIC DEVELOPMENT CORPOF.ATIOU PROJECT
1. Type 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 recuirements: $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.
1 --
Dade County has tentively agreed to provide a portion of the county -
owned Shell's City site to the Tacolcy Economic Development
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
dbmpleted 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.
8G-1e21
A
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 $896,000 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 questions you may have
CHO/JG/mc
cc: Honorable Mayor and Members of the City Commission
'QRA�
sites were approved, in principal, subject to certain conditions
by the passage of Motion No. 86-61 of the City Commission on the
23rd day of January, 1986; and
WHEREAS, the Commission wishes to formalize said approval by
the enactment of this Resolution.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the
City of Miami, Florida:
Section 1. The Commission hereby approves the following
sites as are more particularly described in Claughton Island
Developers' letter and exhibit submittal which was part of the
record before the Commission and dated January 16, 1986 for the
construction of moderate -affordable housing units as set forth in
Resolution 85-812:
(a) The Shell City Site;
(b) The East Little Havana Site;
(c) The Vizcaya Metrorail Site.
Section 2. Claughton Island Developers' obligations to pro-
vide such housing shall be released by the City for the number of
units planned for such sites as follows:
(a) Upon Claughton Island Developers' transmittal to
�C ment
to an escrow agent for the
benefit of said CDC's $3.2 million to be ear-
marked for the development of such units on the
Shell City Site and the East Little Havana Site
(50% of said monies for each site) and shall be
held in trust by the escrow agent, subject to
disbursement to the particular developers of
said units on said sites upon satisfactory
evidence and assurance, acceptable to the City
that said monies will solely be used
7
for the above -noted intended purpos e
Q�
(b) As to the Vizcaya Meto it Site, Claughton
Island Developers shall only be released from S�
the obligations set forth in their above -noted
proposal upon submission to the City Manager and Q 1
City Attorney of such documentation evincing
Claughton Island Developers' commitment and
obligation and contract with the proposed devel-
opers of said site for the acquisition of said
site and 104 housing units planned therefor,
upon completion, and for the marketing for sale
or rental of the proposed units on the site by ��
Claughton Island Developers.
In
t;'rl
��101
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