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HomeMy WebLinkAboutAgenda Item Summary Form1TY OF Hw AGENDA ITEM SUMMARY FORM File ID: #13746 Date: 03/28/2023 Requesting Department: Department of Housing and Community Development Commission Meeting Date: 04/27/2023 Sponsored By: District Impacted: All Type: Resolution Subject: Conveyance of City -Owned Parcel to Broadway Rising Ltd. Purpose of Item: AUTHORIZING AN AMENDMENT TO THE ORIGINAL AGREEMENT OF THE CITY OF MIAMI ("CITY") OWNED PARCEL OF LAND LOCATED AT 6201 NORTHWEST 17TH AVENUE, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN ATTACHMENT "A," ATTACHED AND INCORPORATED, FROM BHP COMMUNITY LAND TRUST, INC., D/B/A SOUTH FLORIDA COMMUNITY LAND TRUST ("SFCLT") TO BROADWAY RISING, LTD., FOR THE DEVELOPMENT OF AFFORDABLE/WORKFORCE RENTAL HOUSING; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN AGREEMENT AND ANY AND ALL OTHER NECESSARY DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PUPOSE. Background of Item: On December 12, 2019, pursuant to City of Miami ("City") Resolution No. 19-0502, the City Commission authorized the execution of an agreements with SFCLT a Florida not for profit Corporation and a 501(c)(3) organization for the development of affordable/workforce rental housing and homeownership housing for eligible low to moderate income persons, on certain City -owned parcels of land located at 6201 NW 17th Avenue and 6200 NW 17th Avenue respectively. On March 9, 2023, SFCLT submitted a request to amend the approved agreement for the property located at 6201 NW 17th Avenue for the development of affordable rental from BHP Community Land Trust Inc/d/b/a SFCLT to Broadway Rising, Ltd. SFCLT would retain a managing member interest in the Broadway Rising, Ltd., and retain the site control. All other conditions applicable to the property located at 6200 NW 17th Avenue for the development of homeownership housing units as stipulated in Resolution 19-0502 shall remain the same and not affected by this resolution. The City shall require the following in order to amendment to the original agreement to Broadway Rising, Ltd.: (i) evidence satisfactory to the Director of Housing and Community Development (Director) that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained on the Lot will be subject to the approval of the Director; (iii) payment by the Broadway Rising, Ltd., to the City of the total amount of restricted funds used by the City to acquire, refinance, or improve with an affidavit and receipt by the City of such payment(s) in form(s) acceptable to the City's Finance Director, the City Attorney, and Bond Counsel; if any. The City's Administration authorize an amendment to the original agreement of the City of Miami ("City") owned parcel of land located at 6201 Northwest 17th Avenue, Miami, Florida, as more particularly described in Attachment "A," attached and incorporated, from BHP Community Land Trust, Inc., d/b/a South Florida Community Land Trust ("SFCLT") to Broadway Rising, Ltd., for the development of affordable/workforce rental housing. Budget Impact Analysis Item is NOT Related to Revenue Item is NOT funded by Bonds Total Fiscal Impact: 0 Reviewed By Department of Community and Economic Development Review Completed 03/28/2023 9:01 AM Office of Management and Budget Luis Hernandez -Torres Office of Management and Budget Marie Gouin City Manager's Office Larry M. Spring City Manager's Office Arthur Noriega V Legislative Division Valentin J Alvarez Office of the City Attorney Raymond Pereira Office of the City Attorney Victoria Mendez City Commission Maricarmen Lopez Office of the Mayor Mayor's Office Office of the City Clerk City Clerk's Office Office of the City Clerk City Clerk's Office George Mensah Department Head Budget Analyst Review Completed Budget Review Completed Assistant City Manager Review Completed City Manager Review Completed Legislative Division Review Completed OCAC Review Completed Approved Form and Correctness Completed Meeting Completed Unsigned by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 03/28/2023 3:13 PM 03/28/2023 3:25 PM 04/03/2023 10:27 AM 04/03/2023 3:55 PM 04/18/2023 4:59 PM 04/18/2023 5:19 PM 04/18/2023 6:14 PM 04/27/2023 9:00 AM 05/06/2023 8:37 PM 05/06/2023 8:48 PM 05/08/2023 9:57 AM City of Miami Legislation Resolution Enactment Number: R-23-0193 File Number: 13746 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Final Action Date:4/27/2023 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE AN AMENDMENT TO THE ORIGINAL AGREEMENT BETWEEN THE CITY OF MIAMI ("CITY") AND BHP COMMUNITY LAND TRUST, INC., D/B/A SOUTH FLORIDA COMMUNITY LAND TRUST ("SFCLT") FOR THE CONVEYANCE TO SFCLT FOR THE PURPOSES OF DEVELOPING AFFORDABLE/WORKFORCE RENTAL HOUSING AT THE PROPERTY LOCATED AT 6201 NORTHWEST 17 AVENUE, MIAMI, FLORIDA ("PROPERTY"); AUTHORIZING THE AMENDMENT TO CONVEY THE PROPERTY TO BROADYWAY RISING, LTD. ("BROADWAY"), IN WHICH BHP COMMUNITY LAND TRUST, INC., D/B/A SOUTH FLORIDA COMMUNITY LAND TRUST ("SFCLT") HAS AND WILL MAINTAIN A CONTROLLING INTEREST; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL OTHER NECESSARY DOCUMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, on December 12, 2019, pursuant to City of Miami ("City") Resolution No. 19-0502, the City Commission authorized the execution of an agreement with BHP Community Land Trust, Inc., d/b/a South Florida Community Land Trust ("SFCLT"), a Florida not for profit Corporation and Internal Revenue Code Section 501(c)(3) organization, for the development of affordable/workforce rental housing at City of Miami ("City") owned land at 6201 Northwest 171n Avenue, Miami, Florida ("Property") and homeownership housing for eligible low to moderate income persons, located at 6200 Northwest 17t" Avenue, Miami, Florida, respectively; and WHEREAS, on March 9, 2023, SFCLT submitted a request to amend the approved agreement for the development of affordable rental housing at the Property from BHP Community Land Trust Inc. d/b/a SFCLT to Broadway Rising, Ltd to assist in securing funding; and WHEREAS, SFCLT will retain a managing member interest in the Broadway Rising, Ltd., ("Broadway") as well as maintain control of the Property; and WHEREAS, the City shall require Broadway to maintain all terms and conditions contained in City Resolution No. 19-0502, including but not limited to the following: (i) evidence satisfactory to the Director of Housing and Community Development that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained on the Property will be subject to the approval of the Director of Housing and Community Development; (iii) payment by the Broadway to the City for the total amount of restricted funds used by the City to acquire, refinance, or improve with an affidavit and receipt to the City of such payment(s) in form(s) acceptable to the City's Finance Director, the City Attorney, and Bond Counsel; if any; and WHEREAS, all other conditions applicable to the property located at 6200 Northwest 171" Avenue for the development of homeownership housing units as stipulated in Resolution R- 19-0502 shall remain the same and not affected by this resolution; and WHEREAS, the City's Administration is authorized to amend the agreement for the City - owned parcel located at 6201 Northwest 17t" Avenue, Miami, Florida, as more particularly described in Attachment 'A" attached and incorporated, from BHP Community Land Trust, Inc., d/b/a South Florida Community Land Trust ("SFCLT") to Broadway Rising, Ltd., for the development of affordable/workforce rental housing; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Manager is authorized' to negotiate and execute an amendment to the original agreement between the City and SFCLT for the conveyance to SFCLT and for the purposes of developing affordable/workforce rental housing at the property located at 6201 Northwest 17 Avenue, Miami, Florida Section 3. The City Manager is authorized' to convey the Property to Broadway, in which SFCLT has, and will maintain, a controlling interest, pursuant to the same terms and conditions contained in this Resolution and City Resolution No. 19-0502. Section 4. The City Manager is authorized' to negotiate and execute any and all necessary documents, all in a form acceptable to the City Attorney, for said purpose. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 1 Un ndez, City Httvr ey 4/1812023 ' The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable City Charter and City Code provisions. Z If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective immediately upon override of the veto by the City Commission.