HomeMy WebLinkAboutR-81-00550..
te
TVP/wpc/2
1/9/81
RESOLUTION NO. 0 t% J
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
�j� ENTER INTO AN AGREEMENT WITH EVENSON-DODGE,
I'S�,,,I�I�O�it 1 IV
ADVISORY
SERVICES PTOVASSISOTUINN
DEVELOPING IDE HSIG LALTERNATE
DO(-%'.Jl%r!EN�S OF
HOUSINGNFORF�LOWDArJDOR THE MODERATEOINCOMOEr,FAMILIES
OR SAID
FOLLOW r" SERVICES USING NFROM DS OPREVIOUSLY T TO DALLOCATED FCOMMUNITY
DEVELOPMENT FUNDS.
WHEREAS, there exists a shortage of adequate housing
units for households of low and moderate income in the City
of 'Miami; and
WHEREAS, the City of Miami passed a $25,000,000 General
Obligation Housing Rond Program to assist in financing
housing resources; ,end
TIE REAS, the City of Miami's Housing Bond Issue pro-
vides the City a valuable tool to meet the housing needs of
its low and moderate income households; and
WHEREAS, the initial step in meeting these housing needs
of low and moderate income households is the expansion of
existing City programs and the development of new and in-
novative housing financing mechanisms and programs speci-
fically designed to address the housing needs of the City
of Miami's low and moderate income households; and
WHEREAS, the City of Miami does not have available
staff to structure and develop financing mechanisms for
assisted housing utilizing the Housing Bond authority
approved by the voters of the City of Miami; and
WHEREAS, Fifth Year Community Development Block
Grant funds have been set aside for these services;
and
WHEREAS, the City Commission authorized the City
Manager to solicit proposals for financial advisory "DOCUMENT INDEX
"
services in connection with Housing Development; and ITEM NQ
CITY COMMISSION
MEETING OF
JAN2 3 10S1
RESOLUTION NO.......,....,.....*.,,.
U
4*
WHEREAS, seven firms responded, and a Section Com-
mittee reviewed and ranked the firms; and
WHi'.REAS, the committee ranked the firm of Evenson-
Dodge, Inc. as the most qualified firm; and
WHEREAS, the City Manager recommends selection of
Evenson-Dodge and the authorization to engage said firm
for financial services.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
engage the firm of Evenson-Dodge, Inc. to provide housing
financial advisory services for a one year period for an
amount not to exceed $30,000 for the development of various
housing financing programs in which to utilize the City's
General Obligation Housing Bond proceeds for the purpose of
financing housing for low and moderate income households
using funds for said services from previously allocated
Community Development funds.
PASSED AI4D ADOPTED this 22 _day of JANUARY, 1981.
"AURICE A. FERRE
14AYOR
ATTEST:
RA H G. ONGIE, CITY C K
PREPARED
AND APPROVED BY: APPROVED AS TO FORM AND CORRECTNESS:
1 /
r.A A,_ f L
TERRY V. P RCY GEORGE F. KNOX, JR.
ASSISTANT CITY ATTORNE CITY ATTORNEY
"SUPPORTIVE
uGGU M FNT
FOLLOW.
2 81 -55 .,
19
f
I rn.1.M _.)rt10A
f
TX
Richard L. Fosmoen +81 J1 4SIN 7 �,! 1�1: January 6, 1981
� ,
City Manager Recommendation for Housing
Financial Advisor
Dena Spillman, Director Agenda Item: January 22, 1981
Department of Community Development
It is recommended that the City Commission
approve the attached resolution authorizing
the City Manager to engage the firm of
Evenson-Dodge, Inc., Minneapolis, Minnesota,
to provide financial advisory services in
connection with the development and imple-
mentation of financing methods to aid in
the production of housing for low and moderate
income families.
By Resolution No. 80-342, the City Commission authorized the City Manager to
solicit proposals from private firms for financial advisory services in connec-
tion with the development of alternate financing methods for increasing the supply
of housing for low and moderate income families, including various methods for
gaining maximum leveraging of the City's General Obligation Housing Bond program.
Seven firms responded to the City's request for proposals, which was advertised
nationally. The committee, composed of the Director of Community Development,
the Director of Finance, and Assistant City Attorney, Terry Percy, with the
assistance of staff, reviewed the proposals received and selected the four firms
considered to be most qualified for oral interviews on the basis of the infor-
mation contained in the written proposals. These were: Evenson-Dodge, Inc.;
James J. Lowrey & Co., New York; Public Financial Management, Inc., Philadelphia;
and Caine & Midgley, Inc., Chicago.
Of the four firms, the committee selected Evenson-Dodge, Inc. as the most quali-
fied to serve the City in the capacity of housing financial advisor. Evenson-
Dodge, Inc., an independent financial advisory firm, has had considerable national
experience in structuring housing and non -housing related financing for state,
regional and local governments and special purpose agencies. Evenson-Dodge, Inc.,
an established firm, has represented various clients in over 3,000 bond issues
totaling over seven billion dollars.
"SUPPORTIVE
DOGU INI ENTS
FOLLOW"
81
i
4r'
Richard L. Fosmoen
Page two
January 6, 1981
Community Development funds in the amount of $50,000 have been allocated for
this purpose. Vie do not anticipate the cost of the services to be provided
to exceed $30,000 for a one-year period.
It is recommended that the ConyDod Commission
forhtheZe the City above servicesager to enter
not to exceed
into an agreement with Evens ge,
$30,000.
/rjf