HomeMy WebLinkAboutM-85-0722s
FROM Sergio Pereira,,, -"-
City Manager
_�,e.e_- Claughton Island Low
Income Housing Development
REPER£NCZS Ci -z: Cc r:r,, s- cn agenda Item
Jul% 18, 1985
ENCLOSURES
A RESOLUTION PROVIDING THE
CLAUGHTON ISLAND DEVELOPERS
WITH THE OPTION OF DEVELOP I'1G
200 UNITS OF LOW I`:COME HOUS-
ING ON CLAUGHTOIV ISL«ND, DEVELOP-
ItiG 225 UNITS OF MODERATE I�:COME
HCUSI`:G -*: T"E' ICI 'I" S CC1".1r•.:I1rY
DEVE'10PMENT T.eP GET ARE: S cE
)0Q
On March 29, 1985, the City Commission passed Motion No. 85-340,
establishing the Citv's position with respect to the Claughton
Island developers low income housing development obligation. The
Motion stipulated that the City would not accept a transfier pay-
ment from the investors, but would allow them, to substitute the
development of three 75-dwellinq unit MODEPATE income projects in
three separate areas of the City in lieu of the development of 200
units of LOW INCOME housing on the Island. The Motion further
stipulated that the units were to be ready fcr occupancy within an
18-month period.
f
In the event the Claughton Island developers elect to develop
moderate income housing on the mainland, the sites selected should
be in neighborhoods where the Citv is now implementing revitalization
and redevelopment programs. In this wav, the new housing developments
will not only add needed housing resources to the existing inventory,
but also complement the Citv's ongoing neighborhood improvement -
strategy which, in part, is directed toward achieving_ an economic mix
in the targeted neighborhoods.
a
As an alternative to direct participation in the development of the
225 moderate income housing units mandated by the City Commission
through Motion No. 85-340, the Claughton Island developers should be
provided with the option of contributing to the Citv's yffordable
Housing Trust Fund, which was established by the City Commission
through Ordinance No. 9839. The proceeds of the developers'
contribution would be used to provide low interest secondary home
purchase financing for families of moderate income purchasing homes
located in the Citv's Community Development Target Areas.
MDT1'D/V
8s-7ti2 .
The homes would be built on land acquired by the City through the
Communit- Development program. Horse builders would be selected
through a competitive selection process. Moderate income home
purchasers would be selected thrcuah a Citywide lottery. Qualified
lottery winners ,.rouid be nrr.— ide c,rith (feferred second mortgage
financing to the extent necessar•:• to ensure that monthly housing
cavments did not exceed 30-, of :rcnthl,.:- income.
There are several ad:,antaces tc the City in allowing the Clauahton
Island developers this transfer payment option-
1) The development of moderate income sales housing in the C.D.
target areas will have a positive effect on the overall
economic health and physical apperance of the areas.
2) The City will be in a position to direct the placement of the
housing units and exercise control of the quality of the
housinG units to be built t-roua- a competitive builder
selection. process.
3) The second mortgage funds will be returned to the City by the
home purchasers over time in the form of loan repayments and
can be "rolled over" in the Form of new second mortgage loans.
A contribution to the affordable dousing Trust Fund by the Clauahton
Island investors of $5,000,000 will provide the funding necessary to
finance the nunccase by moderate income buyers of 330 homes.
Exhibit A indicates the effect of a $15,000 deferred second mortgage
in reducing the monthly housing_ costs of a family of four with annual
earnings of $21,000, the lower limit of median income for Dace County.
Land now owned by the City in Model City can support the development
of 40 homes and land planned .for acquisition in Little Havana and
Overtown will be able to accomodate the development of an additional
185 homes.
If built on these sites, the 225 units of moderate income sales
housing would be ready for occupancy in accordance with the following
schedule:
Model Citv
35
units -
July, 1986
Little Havana
40
units -
October, 1986
Overtown
40
units
- July, 1986
Overtown
110
units
- July, 1987
Provided the $5,000,000 contribution to the Affordable Housing Trust
Fund was made by the Clauahton Island investors on September 2, 1985,
and given the above schedule, a balance of $3,800,000 would be
available for the provision of. approximately 250 additional second
mortgages as of September, 1987, as the result of investment of the
principal of the contribution.
RESOLL''TION NO.
A RESOLUTION PROVIDING THE CLA.CiGHTON
ISLAND DEVELOPERS !,1ITH THE OPTION OF
DEVELOPING 200 UNITS OF LCTI INCOME
HOUSING ON CLAUGHTON ISLAND, DE%'ELnp-
2NG 225 UTITS CF "10DEPP.T•17. T�'CnML urt*S_
IiiG IN THE CIT`: ' S COMMUNITY DE�7ELOPMENT
TARGET APEAS, OP CONTRIBUTING 55,000,000
TO THE :_FFORDABLE FCUSING TFUST FUND.
VHEREA5, on April 22, 1975, the Citv Commission through
Resolution No. 75-423 approved the execution of a Memorandum of
Hnderstandina tiaith the Claughton Island De -:elopers tit;: respect
to the development of 200 units of low income housing on Claughton
Island; and
WFEREAS, the signatories to the above said Memorandum of
Understanding failed to develop the 200 units of low income
housing o* Claughton Island in accordance with the com,-letion
schedule specified in the Merlorardum of "nderstandir.a; and
%-'HEREAS, through Motion No. 85-340, the Citv Corrriission
declared its intent with respect to the extention o~ time to
condition the development order and dismiss appeal concerning
the low income housing development obligation of the Claughton
Island Developers wherein the City Commission stipulated that
it would accent no monies in lieu of the construction of the
x
two hundred (200) units of low income housing stipulated in the
i
development order, but would accept as an alternative, the
construction of thre (3) seventy five (75) unit projects of
moderate income housing at three (3) separate geographical
locations in the City, such housing to be ready for occupancy
in eighteen (18) months; and
wHEREAS, the City Commission after due deliberation,
f
considers a transfer payment in an amount no less than
i
$5,000,000 frorr the Claughton Island Develocers for the purpose
of providing qualified moderate incorie families with second
mortgage financing for the purchase of homes to be built in the
Citv's Communitv Development Tarcet areas, to represent a
reasonable alternative to the moderate income housing development
-1- 85--722 ,
M� N
option provided them in Motion No. 85-340;
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby directed to convey,
the Clauahton Island Developers, the City Commission's willing-
ness to accent a transfer payment in an amount of not less than
$5,000,000 in lieu of construction on Clau?hton Island of 200
units of low income heusina and as an alternate to t1:e construction
of three (3) ` seventy five e (75) unit moderate income housing deve op=
ments at various geographic locations in the Citv's Community
Development T araet Areas.
Section 2. In the event the Claughton Island Developers
elect to provide such transfer payment, the principal of and
earnings thereon shall be used by the City to provide second
mortgage financing to qualified moderate income purchasers of
sales housing to be developed in the City's Community Development
_2
SS-'722 .
C1
LO
EXHI BIT A
IMPACT ON HOUSING MORTGAGE
$15,000 DEFERRED
PAYMENTS OF A
SECOND MORTGAGE.
CITY FUNDED
"-'-- — --
CONVENTIONAL FINANCING
FIIA
CONVENTIONAL
FINANCING @
CATEGORY @ 12° WITHOUT DEFERRED
FINANCING
12� WITH DEFERRED
SECOND MORTGAGE
WITHOUT
SECOND MORTGAGE
SECOND MORTGAGE ---
- $60, 000`
$f 0, 000
$60,000
Sales Price
3
3,000
Down Payment (Minimum 5%) 3,000
,000
(-151000)
City Funded Second Mortgage __--0----
- $57,000
$42,000
First Mortgage $�7,086
564.56
432.03
Estimated Monthly Payment (P&I) 586.32
83.00
Taxes ($28.4591/1000) 83.00
83.00
50.00
50.00
50.00 -
—_... —
Insurance — --
$ 719.32
$ 697.56
$ 515.03
-
Estimated Monthly Payment
_-- on payment reflects
first mortgage for 30 years. The total monthly
the affect of a $25,000
approximately$83.000 per
Assume
homestead exemption. Taxes and insurance monthly uescrow
hazard ins ranceaam
$25s assumes0 per
or age
deferred
month real estate taxes, $25 per month
(PMI). The analysis in the last column
reflects the
impact of a $15,000
premium remium
i I ment.
;cs_ty funded mortgage on the monthly pay
Compiled By
Southeast Overtown/Park West Office
Department of Community Development
Planning Department
July g1985
SIS-74.W
t
SUMMARY SHEET
r•
EDI�O.� ,
VARIABLEOVERTOWN MODEL EDISOLITTLE W NWOOD TOTAL
CITY T,TTTLE HAVANA
TOTAL NUMBER 12 6 ` 7 4 ( 1 30
of SITES I
TOTAL ACREAGE 8.2 4.78 5.1 8. 93 0 4 52 27.58
AVERAGE SITE 29,766 34,703 31,736 97,247 ' 22,575 a3,205
SIZE (SQ. FT)
TOTAL APPROX.
� I
COST (based on 964,250 728,759 540,365 1,361,468 79,279 3,674,121
$3.50 per sq.
ft.)
AVERAGE COST
PER SITE $80, 354 .$121,459 $77,195 S340,367 S79,279 S139,730
rs) �
TOTAL ASSESSED
VALUE 1$526t364 $455,163
($)
AVERAGE ASSESSID
VALUE ($) $43,864
$75,860
$282, 8641$369,271
$40, 409 1 $92,317
$74,240 1 $1,707,902t
$ 74,240 I $ 65,338
TOTAL MAXIMUM
NUMBER OF UNITE 257 61 110 150 10 588
PERMITTED BY
ZONING
TCTAL RECOM-
MENDED Number 76 41 23 4 144
of SINGLE
FAMILY UNITS
TA
:val
IWA
ft4lMr_-K*Oi "l+r
,
OVERTOWN
vb
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pV E R .r OWN (LOCATION MAP)
1 1 1 I I I 000
O T50 1 5
85- f0-31
09I_
SITE #_1
LEGAL DESCRIPTION
a. Dorn Sub, Block 67N,
North, B1odk
L6t9 16
67N, Lots
17:_
i1� 12 1 , 1 , 1 1
b. Miami
LOCATION:
Between N.W. Sth and
6th streets and N6W. 4th Avenue and W•
Frontage Road.
SITE SIZE:
55,936 sq. ft/1.11
acres
APPROXIMATE COST:
525,250 (City Owned
Property,'
Reuse Restrictions, see note
below).
ASSESSED VALUE:
$18,760 + (See note
b)
PROPERTY OWNERS:
a. A.L. Symonette
~' b. Estate of Florie
Bethel Davis
C. City of Miami
EXISTING ZONING:
RG-2/6
Maximum # of Units
Permitted
39
by Zoning _,
Recommended Size of Units
11
NOTE:
a City -owned land on this parcel is set aside specifically for
parking. Deed restrictions established by Dade County need to
e modified.
b. City -owned parcels do not have an assessed value.
{
reviewed by the City of Miami Fire Dept. as an
C. Site has been
alternative relocation site for Fire Station #i (144 NE 5th
St.).
i
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85-'722
MAI: DESCRIPTION:
Miami North, Block 14N, Lots'3, 4, 51 15, )6,`17,
18, 10 $ 20
LOCATION:
Between N.W. loth 11th Streets and N.W. S r d
Avenue and I=d5
SITE SIZE:
67,500 sq.ft./1.55 acres
APPROXIMATE COST:
$78,750
ASSESSED VALUE:
$37,430+ (see note)
PROPERTY OWNERS:
a. Fidelity Investment Corp.
b. Ann Rivers
c. Louis Albert et. al.
d. Dade County HUD (Owns 45,000 sq.ft.)
EXISTING ZONING:
Combination of CR-2/7 and RG-3/7.
Maximum number of units permitted by zoning:
68
13""
Recommended numbers of single family units:
NOTE: County -owned parcels do not have an assessed
value,
i
i
85-'72
�3
rl
I
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4
rr,
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-ova
77
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Pro
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44
LEGAL OESCRIPTI.ON:
Alice Baldwin jpnnYt Block
21, Lott 41
LOCATION:
and ��.'�i. 12th Street Ahd NSW. 1st �1a�e
Between N.W. lith Terrace
and N.W. 2nd Avenue
SITE SIZE:
14,000 sq. ft./ .33 acre
APPROXIMATE COST:
s $50,750
ASSESSED VALUE:
$15, 310
PROPERTY OWNERS:
'aGeorge P. Lewis & H.
.
Gloria
b. Rosalie Robinson
c. Nathaniel Colston
EXISTING ZONIMG:
Maximum number of Units Permitted by zoning: 6
single family units: 2
Recommnded number of
i
u
85--=�:
P
LEGAL DESCRIPTION:
Alice Baldwin Jenny, Block 20, Lots 4
SITE LOCATIOM:
between N-14- 11th Terrace arid
Northeast Corner of parcel located
ki III 19th Street and N.W. 1st Court and NeW& 1st' Place.
85--722-
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MODEL CITY (LOCATION MAP)
ilill 1
0 T50 1500
85--'7K
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S�fiE � 5
LEGAL DESCRIPTION:
Orange Heights 14-62; Block 9; Lots 4-10
LOCATION:
Between N.W. 14th and 15th Avenues along N.W. 619t Street
4
SITE SIZE:
37,100 Square Feet/0.$5
ASSESSED VALUE:
$63,669.00
s PROPERTY OWNERS:
(1) Kenneth T. Williams and W. Caroline Lot 4
(2) J.J. Grissom Lot 5
(3) Ruth Bailey Lot 6
(4) Elsie Haynes Webster Lot 1
(5) Benjamin D. Gilbert Lot 8
(6) Harry Franzus Lot 9
(7) Rufus C. Sundie and W. Christine Lot 10
EXISTING ZONING:
RG-2/4
j MAXIMUM NUMBER OF UNITS PERMITTED BY ZONING: 11
RECOMMENDED NUMBER OF SINGLE FAMILY UNITS: 7
NOTE: Site should be cleared for new construction.
f
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85-'722
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85-72A. -
PROPERTY
OWNERS:
(1) The
Indomitables, Inc.
N 132 Ft. of E 1/2 of
S.E.
1/4 of N.E. 1/4
c/o
S. Crapp
of S.E. 1/4
less E 35
Ft. &
N 25 Ft. (Lot size
irregular)
(2) The
Indomitables, Inc.
W 57.76 Ft.
of S 132
Ft. of
N 264 Ft. of E 1/2
c/o
Dade Commonwealth
of S.E. 1/4
of N.E.
1/4 of S.E. 1/4
(3) The
Indomitables, Inc.
E 47 Ft. of
W 104.76
Ft. of
S 132 Ft. of N 264
c/o
Dade Commonwealth
Ft. of E 1/2
of S.E.
1/4 of
N.E. 1/4 of S.E.
1/4
(4) The Indomitables, Inc. Beg. 132 Ft. S & 135 Ft. W of N.E. Corner of
c/o Dade Commonwealth E 1/2 of S.E. 1/4 of N.E. 1/4 of S.E. 1/4 then
W 93.24 Ft. then S 107 Ft. E 93.24 Ft. N 107
Ft. to Point of Beginning
(5) Kenneth Treister Beg. at point 132 Ft. S and 35 Ft. W of N.E.
corner of E 1/2 of S.E. 1/4 of N.E. 1/4 of
S.E. 1/4 run W 100 Ft. S 107 Ft. E 100 Ft.
N 107 Ft. to Point of Beginning
EXISTING ZONING: RG-2/4
MAXIMUM NUMBER OF UNITS PERMITTED BY ZONING: 18
RECOMMENDED NUMBER OF SINGLE FAMILY UNITS: 12
Qs`7ti2.._
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At
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09
I O'Y
85-7201- .
'SITE
LEGAL DESCRIPTION:
Indiana Park Amend 21-67,
Sleek 4, Lots
4-6
LOCATION:
and 7th Court
along N.Wa �5Sth T6rr�ce
Between ��.W. 7th Avenue
(Southside)
SITE SIZE:
20,400 Square Feet/0.47
acres
ASSESSED VALUE:
$22,500 (Estimate)
PROPERTY OWNERS:
(1) Gulf Oil Company
of Texas
EXISTING ZONING:
RG-1/3
MAXIMUM NUMBER OF UNITS
PERMITTED YB ZONING: 4
SINGLE FA UNITS4
RECOMMENDED UMBER OF
85--'722
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LEGAL DESCRIPTION:
Shadowlawn Ext. (5-105); E1� k 1O, LOtS`11 and 12
LOCATION:
S.E. Corner N.W. 46 Street and N.W. 1st Avenue
SITE SIZE:
14,500 Square Feet
ASSESSED VALUE:
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$20,380.00
PROPERTY OWNERS:
Church of God and Prophecy
EXISTING ZONING:
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LEGAL DESCRIPTION:
Railway Shops Addition 2nd Amend. (3=is ); Block
23; Lott 1=3
LOCATION:
S.E. Corner N.W. 51st Street and N.W. 5th Avenue
SITE SIZE:
19,175 Square Feet
ASSESSED VALUE:
$26,700.00
4
PROPERTY OWNERS:
Lots 1 and Z - William Riggs
` 3 - Emanuel Lawson and Jacob Lawson
Lot
EXISTING ZONING:
4
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MAXIMUM NUMBER OF UNITS PERMITTED y ZONING:3
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LITTLE HAVANA (LOCATION MAP)
85-722_
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LEGAL DESCRIPTION:
Miami South Block 19, lot 17; South 100
feet of lot 18;
South 50 feet of lots 19 and 20, North
50 feet of South 100 feet
of lots 19 and 20 .
LOCATION:
S.W6 4th Avenue and 3rd Street
SITE SIZE:
22,500 square feet
— ASSESSED VALUE:
$183,961
PROPERTY OWNERS:
Irma Callazo; I.E. London and Wilfredo
Borroto H. Korogla; Angel Broche;
Vicente and Maria Castillo.
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EXISTING ZONING:
RG-2/5
MAXIMUM NUMBER OF UNITS PERMITTED BY ZONING: 10'
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