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FLORIDA:
RESOLUTION NO. 84-1312
A RESOLUTION APPROVING IN PRINCIPLE
THE APPLICATION OF NEW CHRISTIAN
HOSPITAL INC. FOR SUBMISSION BY THE
CITY OF MIAMI TO THE U.S. DEPARTMENT
CF HOUSING & URBAN DEVELOPMENT FOR
AN URBAN DEVELOPMENT ACTION GRANT,
FOR DEVELOPMENT OF A 150-BED ACUTE -
CARE GENERAL HOSPITAL.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
Section 1. The application of New Christian Hospital
Inc. for submission by the City of Miami to the U.S. Department
of Housing & Urban Development for an Urban Development Pction
Grant for development of a 150-bed acute -care general hospital
is approved,in principle.
PASSED AND ADOPTED This 15th day of November, 1984.
ATTEST:
1:
R h . Ongie, City c r
PREPARED AND APPROVED BY:
iriam Maer
Assistant City Attorney
City Attorney
AND CORRECTNESS:
Maurice A. Ferre
Maurice A. Ferre, Mayor
CITY COMMISSION
MEETING OF
N 0 V I$ 1984
RESOLUTION No. S =1311
REMARKS.
77TI
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUMS1 o, 17, IS OF F lc�-_
TO. Howard V. Gary DATE. November 8, 1984 ' 3-3 i
FILE:
City Manager Christian Hospital - Urban
SUBJECT: Development Action Grant (UDAG)
FROM:: Fran Castaneda
Director
Community Development
REFERENCES: City Commission Agenda -
November 15, 1984
ENCLOSURES:
It is recommended that the City
Commission approve in principle
the attached resolution authori-
zing preparation and submission
of an application by the City of
Miami to the U.S. Department of
Housing & Urban Development for
an Urban Development Action
Grant for the New Christian
Hospital Inc., for development
of a 150-bed acute -care general
hospital.
City staff has worked with New Christian Hospital, Inc. in preparing
an Urban Development Action Grant application for submission to the
U.S. Department of Housing & Urban Development for construction of a
150-bed acute -care general hospital. The project will be located at
N.W. 60th Street & 6th Court in Model City.
The purpose of this revised application is to regain the Urban Devel-
opment Action Grant (UDAG) in the amount of $3,000,000 that was
approved on September 22, 1983, by the U.S. Department of Housing &
Urban Development and terminated on June 15, 1984.
The project as it is presently structured will involve a non-profit,
tax-exempt charitable organization qualified under Section 501 (3)(c)
of the Internal Revenue Code. The non-profit corporation will be
managed by a Board of Directors, (see summary) including four (4)
leading citizens of the local black community and an expert in the
field of hospital management. The hospital is intended to provide
complete general hospital services, including obstetrics.
Approximately $3,000,000 in Urban Development Action Grant funds is
being requested.
Commission approval of this item is recommended.
/cr
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1 1 -
City of Miami
Department of Community Development
Urban Development Action Grant (UDAG)
Project Summary
1.
Name:
Christian Hospital
2.
Developer:
New Christian Hospital, Inc.
Board of Directors
George A. Simpson, M.D.
Maria Saunders, M.D.
W. B. Koon
George Koontz
J. A. Ziskind, D.P.A., J.D.
3.
Type of Project:
Development of a non-profit, 150-bed,
acute -care general hospital in Model
City neighborhood.
4.
Location:
N.W. 60th Street & 6th Court (Shell City)
Miami, Florida
5.
Zoning:
The site is zoned SPI-I (Special Public
Interest Districts) and is in conformance
with requirements of the City.
6.
Total Development
$22,250,000
Cost:
7.
Project Financing:
Equipment loan $ 2,000,000
Land loan 670,000
UDAG 3,000,000
Health Facilities Revenue 14,250,000
Bonds
Working capital 800,000
Interest earned (arbitrage
on the bonds) 1,530,000
Total $22,250,000
8. Number of Jobs Construction 100
Created: Permanent 400
9. Term of UDAG Assistance/Return to City:
a) 30 year loan
3% interest (principal and interest 459,173
years one through three (1-3) )
10% interest (principal and interest
years four through thirty (4-30) ) 8,199,169
$ 8,658,342
84r-1312