HomeMy WebLinkAboutR-83-0986A
J -R 3-872
10 25:'83,'rr
D-5
RI-501 1JT ION NO. S 3" 986
A RESOLUTION AUTHOR IIING THE CITY MANAGER
10 TRANST I-R $h, 5110, Ono 1ROM IHE CAPI 141
IMPROVE MFNT l' UND, F ISCAL YE AR 19 ll2-83
T L0RI1)A POWER AND LIGHT I RANCHI`;I-
EARNINGS, t0 114F Gf NERAL 0B1.1GAI10N
HOUS I NG BOND F UNI), i1N A TE-t-1P0RA13Y HAS I S
Ill FUND THE A(f11Jf`ii TION OF FOUR SI IFS IN
CONJUNCT ION W I I H ) HE AF F ORDAi11_ E RENT At
HOUSING 1)FVEI01)1.1FNI I)RnGRAii; PROVIDING
FOR REPAYMENT OF SUCH IEMPORARY TRANSI LR
UPON SALE OF 111) T11 $8,000911011 IN GENERAL
OBL IGAT ION IIOUSING BONDS IN FISCAL- YEAR
1983-84; FURTHER PROVIDING THAT fHF- CITY
ADMINISTRATION WILL NOT OBLIGAIF THE CITY
OF 141AMI FOR 140RE THAN $8, 000, 000;
FURTHER PROVIDING THAT SAID AUTHOR IZAtION
DOFS NOT OBL IGATE TIIF- CI TY TO EXPEND MORE
THAN $89000,000 FOR THL PURPOSE OF
ACQUIRING SIIFS IN CONJUNCTION WITH SAID
PROGRAM.
WHFRFA5, the City Commission has determined that. there
exists a shortage of rental housinq in the City affordable to
low and moderates income families and persons, inr_ludinq the
elderly; and
WHEREAS, in an effort to alleviate this rental housing
shortage, the City Commission, through Resnlut_ion No. 81-848,
approved implementation quidelines For the Affordable Rental
Housing Development Program; and
WHEREAS, by Motion No. 83-723, the City Commission
accepted recommendations made by the City Administration to
initiate eminent domain proceedings for the acquisition of
some of the selected sites for the program; and
WHEREAS, eminent domain proceedings require deposits
with the court of amounts equal to the appraised values of
the sites; and
WHEREAS, General Obligation Housing Bonds in the amount
Of up to $8,000,000 authorized by Resolution No. 81-173 for
the acquisition of project development sites for the program
have not yet. been issued;
NOW, THEREFORE, BE IT RESOLVED IiY THE COMMISSION OF THE
CITY OF MIAMI, Fl_ORIDA:
CITY COMMISSION
MEETING OF
OCT 25 1983
RESDlUIIJf; 83-988
REMARKS
Sect inn 1 The C i t.v Manager i s herehv nut hur i z n d to
t ran sfer $h, 500,000 from the Cnoit a Improvr,mr,nt Fund,
Fiscal Ynar 1982-H3 Ilnrida Power and Iirlfit Franchise
Farninqs, to L h e General 0hI igat ion Itousiriq T)ond Fund on a
temporary
basis
to
fund the acquisition
of f(ItIF sitr�s in
conjunction
with
the
Affordable Rental
11nrt,inq L)r!vr-Iopinent
Program with repayment of said arnnunt to he made to the
Capital Improvement Fund, Fiscal year 198 2 -8 3 Florida Power
and
Light
Fra11ChISn Fund, d u r i n q
Fiscal Year
1983-84, upon
sale
of up
to $8,000,000 in General
Ohligation
dousing Ronds,
with
the
provision thaL the City
Administration
will not.
nhIigate the City of Miami For not more than $8,000,000.
Section 2. The herein authorization does not obligate
the Cit.y to expend more than $8,000,000 for the purpose of
acquiring sites in conjunction with the Affordable Rental
Housinq Development Program.
PASSED AND ADOPTED this 25tt3 day of October , 1983.
ATTEST:
(RALPW G. ONGIE
ITY CLERK
PREPARED AND APPROVED BY:
i
ROBERT F. CLARK
DEPUTY CITY ATTORNEY
Maurice A. Ferre
MAURICE A. FERRE
M A Y O R
APPROVED AS TO FORK AND CORRECTNESS:
,
A A- A
ACITYTTORNEY
-2-
.s
83-9 36*
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANOUM
Howard V. Gary
City Manager
CROM Dena Spillman, Director
Department of Community Development
OA'E September 211, 1983 BILE,
Sus�Ez- Resolution Authorizing City
Manager to Transfer $6,500,000
from the Capital Improvement
Fund for Affordable Rental
?EFERENCES Housing Development Program
ENCLOSURES City Commission Agenda
October 13, 1983
It is recommended that the City Commission
approve the attached Resolution authorizing
the City Manager to transfer $6,500,000
from the Canital Improvement Fund to the
General Obligation Housing Bond Fund on an
interim basis to fund the acquisition of
four (4) sites in conjunction with the
Affordable Rental Housing Development
Program.
On March 17, 1981, the City Commission, through Resolution No. 81-173, authorized
the use of up to S8,000,000 in general obligation housing bond proceeds for the
acquisition of project development sites for the Affordable Rental Housing_
Development Program.
On July 22, 1982, the City Commission, through Resolution No. 82-678 approved
the acquisition, through negotiated purchase of four project development sites
(see attached). Two sites, the Civic Center site and the Melrose ;Nursery site
are being acquired through negotiated purchase. The other two sites, the P.B.A.
site and the Highland Park site are being acquired through eminent domain pursuant
to City Commission Resolution No. 83-371 as negotiated purchases were not possible.
:n November, the option held by the City on the Civic Center site is due to be
executed. S1,134,000 will be required to execute it. Also, in November, a closing
will be held for the purchase of the Melrose Nursery site. The acquisition cost
for this site, including relocation and closing costs is S2,520,000. In December,
we will be required to deposit an amount equal to the appraised value of the two
sites to acquired through eminent domain, approximately $2,500,000.
General cblication housing bonds will be issued in an amount equal to the cost
of these acquisiticns and to cover related site purchase costs in accord with
the City's bond sale schedule. Until the housing bonds are sold, we are
requesting the ;nterim use of Capital Improvement Funds to meet these costs.
"
Toward V. Gary -2- September 21, 1983
Specifically, we are requesting the transfer of S6,500,000 in Capital
Improvement funds to the Housing Fund account.
Approval of the attached Resolution is recommended.
/so
? -22 83
CI7I OF MIAMI
3LE RENTAL HOUSEIG DF,ELOPXENT PRCGRAM
DEVELOPMENT SITES
Est. Unit
Location Acreage Capacity
NW 27th Avenue 5.64+ ZOO
& 28th Street
150N
loth Street, NW
llth Street, &
7th avenue
NW 18th Street 6.3+ 300
& 14th Avenue
2300 N.W. 14th 8.5+ 200
Street
83-986