HomeMy WebLinkAboutR-83-03980 0
J-83-335
rr
RESOLUTION NO. ('`,,5"""'398
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO EXECUTE AN OPTION AGREEMENT, SUBJECT
TO THE CITY ATTORNEY'S APPROVAL AS TO
FORM AND CORRECTNESS, AND FURTHER SUBJECT
TO JUDICIAL VALIDATION OF THE CITY'S
HOUSING BONDS, WITH GORO INVESTMENTS,
INC. AND VEN ENTERPRISES, N.V. FOR THE
PURPOSE OF SECURING A SITE OPTION ON THE
CIVIC CENTER SITE IN CONNECTION WITH THE
CITY OF MIAMI AFFORDABLE RENTAL HOUSING
DEVELOPMENT PROGRAM, WITH FUNDS THEREFOR
ALLOCATED IN AN AMOUNT NOT TO EXCEED
$120,000 FROM THE CAPITAL PROJECTS FUND.
WHEREAS, the City Commission has determined that there
exists a shortage (.)F rental housing in the City affordable to
low and moderate income families and persons, including the
elderly; and
WHEREAS, in an effort to alleviate this rental housing
shortage, the City Commission, through Resolution No. 81-848,
approved implementation guidelines for the Affordable Rental
Housing Development Program; and
WHEREAS, by Resolution No. 82-673, the City Commission
authorized the expenditure of up to $500,000 for the purpose
of securing options on five (5) development sites, identified
as being suitable for multi -family housing development
consistent with the objectives of the Program; and
WHEREAS, the owners of record, Goro Investments, Inc.
and Ven Enterprises, N.V. have executed an Option Agreement,
for the purchase price of $1,200,000, for the acquisition of
one of the above development sites; and
WHEREAS, the City is required to pav a $120,000, option
fee to the owners of record for the option which is valid
until November 30, 1983;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
j CITY CCT.2MI SSION
II�:E;'I'IivC CDF
1'1AY 12 1:83
S3" 3:%
0 0
Section 1. The below -listed development site is
suitable for multi -family housing development consistent with
the objectives of the City of Miami Affordable Renting
Housing Development Proqram:
Civic Center Site:
Tract B, Venago, as recorded in Plat Book 117, at
Page 20, of the Public Records of Dade County,
Florida.
Section 2. The City Manager is hereby authorized to
execute an Option Agreement, subject to the City Attorney's
approval as to form and correctness, with Gor.o Investments,
Inc. and Ven Enterprises, N.V., and further subject to
judicial validation of the City's Housing Bonds.
Section 3. Monies in an amount not to exceed $120,000
are hereby allocated from the Capital Projects Fund for use
in securing the option for the above- referenced site under
the terms of the Option Agreement; reimbursement to the
Capital Projects Funds shall be made upon the availability of
Housing Bond sale proceeds.
PASSED AND ADOPTED this 12th day of 'May , 1983.
_ MaurirP A F r e
MAURICF A. FERRE
M A Y 0 R
ATTEST:
Q
AL * G. ONGIE, CITY CL nK
PREPARED AND APPROVED BY:
JJ, ka�
G. MIRIAM MAER
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
SE R. GARCIA-PEDROSA
ITY ATTORNEY
-2-
S3--3JS
+ . ja
Ott tr.
t
to c' . ' t l .• ti j i , . ;
.. •.
,
. , f , .
:. . t":
f♦\ .ter .. ♦'It:
'
.
i ' .�
- . �.1
4, 1;1R• "��t'.
• 1; +': � �
: , r [' .' t t cf
i.. �,..
i.. .. i ; .� [ �;'• [ i�..\
� ;.'.; t -['i.-
i,
i � i l� . I:il� i :t . .
"lt. ,.. ,
. 't♦i F. :' � .
�1� \ ..
� � .' 1 t .. tft+ \it1 � .
" .. i . 1
i1' trl' . .. •,
l a't,t 71
.jti,' y.t
r.t\
it
iclit A; r yr✓
:„ `,r
!.ti...:i
. •.:�_ � ` i.t•;
•;, _ .1; ,;, tc, ,,�:
,� t-` s �
r, r,
t rr:, ,; -. ,
- c • . ;t �: i t',.ir
1
8. T}.e
r.. a t'' ,..
this 0;
.1.1C- d:At
r ;. ,}, i S,.k ci i .
:'. a; ..:P,1
111 OLilc'ILJ'.SC
r.tllr!. l: Of
y do,,s
It
!ph 8 i:,,
!
1
..l.c; ttr i }! .. . •,'
, 11 C7i
-y 'i.,
j
r ly F:,r.•(- i
. „ i ,, c
i 1 },
t• I it rr
i',. .. , ,.
lit SIJt ...,4'.
1 S C, I)}..(' ii]}' .i .,•'..,
.`it , 1,1,..
,j i
!1, ' .-
.. l•i ... '
(i ,1.IC7ll C'L
l lie ow-M?i:.
1.1' Lht-
ty 1•rr,c ,.•r?!
t ,. : ,rr- `. ,st
..11. c, •ts l.:,,t.
1 . L;le p::,
.., 11 c
t.�xc
l at4•'.t�t.a'.>Lc',
..�,? c,.? c.��t _� 1
,,•
l r
_ -,'
. 1
.Inrnn� i ,1
4
CITY OF MIAMI. FLORIDA41; /
INTEROFFICE MEMORA 1 ����
�,"} I!,, S OFFICE
Tp Howard V. Gary UN API; 22 Al 10- 44
DATE April 19, 1983 FILE
City Manager
FRC Dena Spillman, Director
Community Development
Gil
SLB,EZ.' Execution of Option Agreement
Affordable Rental Housing
Development Program
P Lr ERENCES City Commission Agenda Item
May 12, 1983
EN�LOS�RES
It is recommended that the City Commission
approve and direct the City Manager to execute
the attached Option Agreement with Goro Investment,
Inc. and Ven Enterprises, N.V.; further authorizing
Capital Funds not to exceed $120,000 for the purpose
of securing a site option on the Civic Center Site in
connection with the City of Miami Affordable Rental
Housing Development Program.
On July 22, 1982, through Resolution No. 82-678, the City Commission approved
certain development sites for the Affordable Rental Housing Development Program.
The Resolution authorized the expenditure of up to $500,000 in Capital funds for
the purpose of securing site Option Agreements and authorized Dade County's
Department of Housing and Urban Development to proceed with Option negotiations.
After several months of negotiations by Dade County's Department of Housing
and Urban Development, the attached Option Agreement was executed by the sellers,
Goro Investments, Inc. and Ven Enterprises, N.V. for the Civic Center parcel
located at N.W. 14th Avenue and 18th Street.
The Option Agreement accompanying this memorandum must be executed by the City
within sixty (60) days from March 30, 1983 and payment of the non refundable
$120,000 Option Fee. The Option Fee represents ten percent (10%) of the
appraised market value of the parcel. If the City proceeds to acquire the
property, the Option Fee will be applied to the purchase price. The City can
purchase the property at any time prior to November 30, 1983.
Commission approval is recommended.
/so
IF
,
�.•+'.'I�:
i• `ilk
_ .