Loading...
HomeMy WebLinkAboutR-83-0100J-82-301 RESOLUTION NO. S -1.00' A RESOLUTION APPROVING, IN SUBSTANTIALLY THE FORM ATTACHED HERETO, THE REQUEST FOR PROPOSALS FOR IMPLEMENTING THE AFFORDABLE HOUSING DEVELOPMENT PROGRAM SUBJECT TO APPROVAL BY METROPOLITAN DADE COUNTY. WHEREAS, the City Commission has determined the existence of a critical shortage of rental housing in the City affordable to families and individuals of low and moderate income; and WHEREAS, federal housing assistance funding is insufficient to meet the demand for such housing; and WHEREAS, the City Commission has determined that the availability of rental housing affordable to families and individuals is critical to the long-term economic stability of the City; and WHEREAS, the City Commission has determined that public intervention assistance is necessary to obtain the participation of the private housing industry in the development of such rental housing resources; and WHEREAS, the City proposes to implement a program to provide such assistance referred to as the Affordable Rental Housing Development Program; and WHEREAS, implementation of the program requires the publi- cation of a Request for Proposals for the purpose of obtaining participation by private sector multi -family housing developers; and WHEREAS, implementation of the program requires approval by Metropolitan Dade County due to certain statutory provisions governing the proposed expenditure of City of Miami General Obligation Housing Bond proceeds to implement the program; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The Request for Proposals, in substantially the form attached hereto, for implementing the affordable rental housing development program is hereby approved. CITY COMMISSION MEETING OF F E B 10 1983 la"MON NO.83-1©4 C Section 2. The City Manager is hereby directed to submit the subject Request for Proposals to the Metropolitan Dade County Board of Commissioners for approval. PASSED A14D ADOPTED this 10th day of February 1983. Maurice A. Ferre MAURICE A. FERRE MAYOR ATTEST: ZT_ALP9G. ONGIEY CLERK PREPARED AND APPROVED BY: JOEL E. MAXWELL ASSISTANT CITY ATTORNEY APPROVED AS TO FORM AND CORRECTNESS: c. l\ E R. GARCIA-PEDROSA TY ATTORNEY wpc/036/(2) -2- 83-100; CITY OF MIAMI AFFORDABLE RENTAL HOUSING DEVELOPMENT PROGRAM INVITATION FOR PROPOSALS To increase the supply of rental housing affordable to families and individuals of low and moderate income, the City of Miami, in cooperation with Metropolitan Dade County, is proposing to implement a new rental housing development assistance program called the Affordable Rental Housing Development Program. Through the Program, the private housing industry will be assisted with the development and financing of approximately 1,000 units of rental housing. To implement the Program, the city will select, through a competitive bidding process, one or more private firms to serve as Project Sponsors (developer/owners). Project Development Sites will be acquired for the Program by Metropolitan Dade County, acting through the City. The development sites will be appropriately zoned and sold to the project sponsors selected to participate in the Program. The City intends to issue tax exempt Multifamily Housing Revenue Bonds to provide below conventional rate construction and permanent financing for up to 90% of the Total Development Cost for rental housing projects developed through the Program. In order to secure the Bonds, it is expected, the City will be required to comply with certain covenants, agreements and conditions affecting the Projects and the financing thereof. Such requirements must be complied with until the principal, redemption premium, if any, and interest on the Bonds are paid in full. The Bonds were validated by judgement of the Circuit Court for Dade County rendered on % 1983. A minimum of twenty percent (20%) of the rental units developed through the Program must be in the affordability range of low income families and individuals. The remainder must be within the affordability range of families and individuals of moderate income. The City has determined that low and moderate income families should pay no more than 30% of gross income for rent inclusive of basic utilities. Low income is defined as 50 to 80% of the median income for the Dade County Standard Metropolitan Statistical Area (SMSA). Moderate income is defined as 81 to 150% of the median income for the SMSA. Exhibit A displays low and moderate income ranges for the SMSA by family size. Federal tax law and regulations require that (1) all units of each Project must be maintained as rental units for the longer of (a) the term of the Bonds or (b) the "qualified project period" (as defined in IRS regulations) and (2) the 20% requirement must be satisfied on a continuous basis during the "qualified project period". Sponsors will be required to enter into written rent regulatory and management agreements with the City to assure that the Projects will be economically accessible to low and moderate income families for the period described above. All Projects financed through the Program will be required to meet South Florida Building Code Standards and other standards as may be applicable to the construction and design of multi -family housing in Miami, Florida. III. SELECTION OF SPONSORS AND PROJECTS A) Invitation for Proposals Sponsors will be selected from among those firms responding to this Invitation for Proposals. (Section IV, Proposal Submission Guidelines, provides instructions tor submitting proposals). B) Proposal Selection Process All proposals received will be reviewed by a Proposal Selection Committee whose members will be appointed by the Manager of the City of Miami. The Committee will screen each proposal for conformance with the proposal submission requirements contained in this Invitation. The Committee will submit the results of the proposal evaluation process to the Miami City Manager. The City Manager will submit the results of the Committee's analysis to the Miami City Commission. The City Commission will be responsible for final selection of Sponsors. The City Commission's selection of Sponsors will be subject to review by the Metropolitan Dade County Board of Commissioners to assure conformance of the selection process with Sec. 125.35 Fla. Sta. (1981). 2 83-100 C) Selection Criteria for Sponsors and Projects The proposal Selection Committee will use the following criteria in reviewing and ranking all proposals: 1. FINANCIAL CAPACITY OF RESPONDENT 2. MULTIFAMILY HOUSING DEVELOPMENT EXPERIENCE OF RESPONDENT 3. MULTIFAMILY HOUSING MANAGEMENT EXPERIENCE 4. RENTAL STRUCTURE PROPOSED 5. PROJECT DESIGN 6. UNIT DESIGN CONCEPT 7. PROJECT MANAGEMENT PLAN 8. EXTENT OF MINORITY PARTICIPATION (LATIN/BLACK) IV. PROPOSAL SUBMISSION GUIDELINES TOTAL POINTS 20 10 15 20 10 5 10 Proposals submitted in response to this Invitation must include the following information: A) Credentials 1. Identity of respondent, including respondent's organizational structure and names and addresses of principals. 2. Respondent's experience in multi -family housing development referencing specific projects and respondent's role. 3. Respondent's experience in multi -family rental housing management referencing specific projects and respondent's role. 4. Evidence of respondent's financial capacity to undertake the project(s) proposed in the form of a certified financial statement. 3 83-1:00 f B) Project Proposal Respondents to this Invitation may submit proposals for one or more of the Project Development Sites identified in Exhibit B. For each project proposal submitted, the following information must be included: 1. Project site plan (preliminary) 2. Project elevation (preliminary) 3. Project floor plans (preliminary) 4. Schedule of dwelling unit amenities, if any 5. Schedule of project amenities, if any 6. Proposed rent schedule and annual rental escalation proposed 7. Project management plan 8. Project development and operating proforma 9. Project finish schedule C) Proposal Development Considerations Respondents to this Invitation are advised that the following factors must be considered and adhered to in the development off -Project proposals. 1. Project Density - Exhibit B indicates the maximum number of dwelling units acceptable o- r each Project development Site. Fewer may be proposed. 2. Dwelling unit mix For each project development site, proposals must respond to the following unit size mix: 1 bedroom units 22% 2 bedroom units 65% 3 bedroom units 13% 3. Dwelling unit size The following approximate minimum unit square footage guidelines must be adhered to: 1 bedroom units 2 bedroom units 3 bedroom units 4 625 sq. ft. 700 sq. ft. 825 sq. ft. 83--100 4 4. Dwelling unit amenities Dishwashers, trash compacters and balconies, etc. are to be considered amenities for the purpose of proposal development. Ranges, refrigerators, and air conditioning units are to be considered essential unit operating fixtures. 5. Project amenities Preliminary cost estimates must be furnished for major project amenities (i.e. swimming pools, play grounds, recreation rooms, etc.) 6. Parking requirements Respondents should not anticipate variances from City of Miami off-street parking requirements. 7. Project rent schedule The City of Miami has determined that low and moderate income families should pay no more than 30% of gross income for rent, inclusive of basic utilities. Therefore, respondents should consi er average per unit utility costs in calculating proposed rent schedules. Respondents are encouraged to contact local utility companies for information on average per unit utilities operating costs. 8. On -Site Improvements Respondents should calculate the cost of on -sight improvements (i.e. peripheral sidewalks, curb cuts, etc.) in developing project cost estimates. 9. Permanent and Construction financing Respondents should assume, for the purpose of proposal submission, permanent and construction financing interest rates of eleven per cent (11%) with a project mortgage period of 30 years. 10. Project Development Sites Exhibit B provides key information on the project development sites, including the appraised value of each site. Respondents should calculate these values in arriving at Total Development Costs. Respondents may propose land repayment terms. In arriving and land repayment terms, respondents should anticipate a 10% rate of interest. 5 83-100 pre -submission 11. Project Timing Respondents should assume a Project construction start date of October 1, 1983. 12. Minority Participation Respondents must comply with all applicable federal, state, and local regulations governing equal employment opportunity and minority participation, and Fair Housing. V. PROPOSAL SUBMISSION INSTRUCTIONS 1. Proposals submitted in response to this Invitation should be submitted in a sealed envelope bearing the name, address, and telephone number of the respondent. The envelopes should be clearly labeled "City of Miami Affordable Rental Housing Development Program." 2. An original and nine (9) copies of the proposal should be delivered to the Miami City Clerk, City Hall, 3500 Pan American Drive, Miami, Florida 33133, no later than 2:00 p.m. , 1983. e origTin—a-1 proposal should be accompanied by a cover letter bearing the signature of the respondent. It is the sole responsibility of the respondent to ensure that the proposal(s) arrive on time and at the correct location. 3. Questions concerning various aspects of the Program should be directed to Dena Spillman, Director, Department of Community Development (305) 579-6853. 4. The City of Miami reserves the right to reject any and all proposals. 5. A proposal held at , 6 conference will be , 1983 at 83-100: to EXHIBIT A PROJECTED MEDIAN FAMILY INCOME Number of Persons per Household 1983 50% 80% 150% 1 8,957 14,332 26,872 2 10,231 16,371 30,695 3 11,506 18,411 34,520 4 12,781 20,450 38,343 5 13,574 21,719 40,723 6 14,366 22,986 43,098 7 15,193 24,309 45,579 8 15,986 25,578 47,958 Median income per family size was derived from the 1981 U.S. HUD Section 8 Income Limits Schedule. An average increase of 5% per year was factored to the computation in order to project the 1983 family income data. fe EXHIBIT A PROJECTED MEDIAN FAMILY INCOME Number of Persons per Household 1983 50% 80% 150% 1 8,957 14,332 26,872 2 10,231 16,371 30,695 3 11,506 18,411 34,520 4 12,781 20,450 38,343 5 13,574 21,719 40,723 6 14,366 22,986 43,098 7 15,193 24,309 45,579 8 15,986 25,578 47,958 Median income per family size was derived from the 1981 U.S. HUD Section 8 Income Limits Schedule. An average increase of 5% per year was factored to the computation in order to project the 1983 family income data. 0 Exhibit B City of Miami Affordable Rental Housing Development Program Project Development Sites Site No. 1 Location: Acreage: Legal Description: Neighborhood: Number of Units Allowable: Appraised Value: U Q N 3 z Melrose Nursery 2741 NW 27 Avenue +8.5 Acres Fritz Homesite as recorded in Plat Book 30 at Page 46 of the Public Records of Dade County, Florida Allapattah 475 units I I L- N.W. 29 ST. N.W. 26 ST. in N z rt 83-100. 0 *` Exhibit B City of Miami Affordable Rental Housing Development Program Project Development Sites Site No. 2 Location: Acreage: Legal Description: Neighborhood: Number of Units Allowable: Appraised Value: Highland Park NW 8th St.. Rd. , NW 10 Street, NW 11 Street and 7th Avenue +3.7 Acreage Blocks 1 and 2 of Spring Gardens Subdivision, as recorded in Plat Book 5 at Page 38 of the Public Records of Dade County, Florida. Overtown 110 units W A* N.W. 11 ST. • 7�1.4' � o n �3 Sds.l' z N.W. 10 ST. it, Exhibit B City of Miami Affordable Rental Housing Development Program Project Development Sites Site No. 3 Location: Acreage: Legal Description: Neighborhood: Number of Units Allowable: Appraised Value: N.W. 14 Miami Police Benevolent Association 2300 NW 14 Street +8.5 Acres Police Benevolent Association Tract A, as recorded in Plat Book 86 at Page 15, Dade County, Florida. Allapattah 475 units ST. W Q 83-100 i 11 Exhibit B City of Miami Affordable Rental Housing Development Program Project Development Sites Site No. 4 Location: Acreage: Legal Description: Neighborhood: Number of Units Allowable: Appraised Value: Civic Center Site NW 18 Street & NW 14 Avenue +2.9 Acreage Tract B, Venago, as recorded in Plat Book 117 at Page 20, of the Public Records of Dade County, Florida. Civic Center 135 units uj � IIJ a mil N.W. 15 ST. N.W. 17 ST. n 83-100 d. s3-100', CITY OF MIAMI. FLORIDA 34 INTER -OFFICE MEMORANDMyy MAMOET'S OFFICE IS03 JAN 26 PX != 56 TO Howard V . Gary DATE January 24, 1983 FILE City Manager SUBJECT Affordable Rental Housing Koh Development Program - ��,r,c_ Invitation for Proposals FROM Dena Spillman REFERENCES City Commission Agenda Item Director February 10, 1983 Department of Community Development ENCLOSURES It is recommended that the City Commission approve an Invitation for Proposals for the Affordable Rental Housing Development Program. On January 13, 1983, the City Commission adopted, on second reading, an ordinance authorizing the issuance of up to $65,000,000 in multi- family housing revenue bonds for the purpose of financing low and moderate income rental housing through the Affordable Rental Housing Development Program. Subsequently, a validation complaint will be filed in Circuit Court leading to a hearing to determine the City's authority to finance the program, as proposed. The Invitation for Proposals accompanying this memorandum will be used to solicit housing development proposals from private sector sponsors. Following City Commission action on the invitation, it will be forwarded to the Dade County Board of Commissioners for approval. The Invitation will be published immediately upon a positive determination by Circuit Court of the City's authority to issue the Multi -Family Housing Revenue Bonds, expected during the month of March. City Commission approval of the Invitation for Proposals is recommended. DS/mr r1i 83-100: