HomeMy WebLinkAboutR-80-0343A RESOLUTION AUTHORIZING THE CITY MANAGER TO
PROCEED WITH THE SALE OF GENERAL OBLIGATION
HOUSING BONDS IN THE AMOUNT OF $4,000,000 TO
PROVIDE FUNDING FOR ACQUISITION OF SITES FOR
DEVELOPMENT OF 360 UNITS OF FEDERALLY ASSISTED
HOUSING UNITS FOR LOW AND MODERATE INCOME HOUSE-
HOLDS. t� uP �n
DOC U i tW N .i.. J
FOLLOW11
WHEREAS, there is a recognized shortage of adequate housing units
for households of low and moderate income, in the City of Miami; and
WHEREAS, the City of Miami has demonstrated need for the provision
of safe, sanitary, and decent housing for its low and moderate income
citizens; and
WHEREAS, available federal programs and resources for the provision
of such housing are not expected to be sufficient to meet current and
projected needs; and
WHEREAS, in recognition of its responsibility to assist in the pro-
vision of housing for its low and moderate income citizens, the City of
Miami passed a $25,000,000 Housing Bond Issue in 1976 in order to provide
funds for the development of such housing to alleviate this crucial need;
and ►,
WHEREAS, on December 14, 1978, the City Commission by Resolution
No. 78-814, authorized submission of a Housing Development Program
proposal to the Unites States Department of Housing and Urban Devel-
opment; said Program combined proceeds from the sale of General Obli-
gation Housing Bonds in the amount of up to $6,000,000 and federally
assisted housing units for the development of up to 770 units of hous-
ing for low and moderate income elderly and families; and
WHEREAS, in September of 1979, the United States Department of
Housing and Urban Development approved a bonus allocation of 360 units
of federally assisted housing in response to the City's proposal;
C" COMMISSION
MEETING OF
MAY 31n�Q
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.....................
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to proceed with
the sale of $4,000,000 in General Obligation Housing Bonds for the
acquisition of development sites for the development of 360 units
of federally assisted low and moderate income housing.
PASSED AND ADOPTED this 8T H day of MAY 1980.
MAURICE . FERRE
MAYOR
ATTEST:
RA G. ONGIE, CITY CLERK�,�,
PREPARED AND APPROVED BY:
l
�1
Ji MICHAEL HAYGOOD
ASSISTANT CITY ATTORN Y
APPROVED AS TO FORM AND CORRECTNESS:
80-343
---iL
CITY OF MI.ArAI. F LORMA
INTEROFFICE ME.MORANOUM
10 Joseph R. Grassie
City Manager
/e�na;iL v;,RO�, Spillman, Director
Department of Community Development
May 2, 1980
Resolution for Sale of $4,000,000
in Housing Bond Funds
City Commission Agenda
May 8, 1980
IT IS RECOMMENDED THAT THE CITY COMMISSION APPROVE THE
ATTACHED RESOLUTION AUTHORIZING THE SALE OF $4,000,000
IN HOUSING BOND PROCEEDS TO PROVIDE FUNDING FOR THE
ACQUISITION! OF 360 UNITS OF FEDERALLY ASSISTED HOUSING
FOR LOW AND MODERATE INCOME FAMILIES.
On March 9, 1976, the voters of the City of Miami approved a $25.000,000 General
Obligation Housing Bond issue for the purpose of financing housing for low and
moderate income families.
To date, approximately $1,500,000 in bond proceeds have been pledged to secure
Dade County Special Revenue Bonds which are being utilized to develop 424 units
of Section 8 rental housing on seven sites in the City, and a proposal is pend-
ing for the issuance of an additional $1.4 million in bonds for the provision of
a capital contribution to Dade County for the development of 225 units of
Section 8 housing in the City.
On December 14, 1978, by Resolution No. 78-814, the City Commission approved a
proposal to utilize up to $6,000,000 in Housing Bond proceeds to acquire and pre-
pare sites for the development of low and moderate income housing contingent upon
a special allocation of housing units to the City by the U. S. Department of
Housing and Urban Developrr;ent. As a result of this initiative, the City of Miami
was awarded a "Bonus" public housing allocation sufficient to provide for the
development of 360 units of public housing in response to its proposal.
The total land acquisition cost for the required public housing sites will also
include demolition expenses, relocation, and other administrative related costs.
The City of Miami will be partially reimbursed by the U. S. Department of Housing
and Urban Development for the Housing Bond proceeds utilized to acquire the
necessary sites.
Several neighborhoods in the City of Miami have been surveyed and have been deter-
mined to be suitable for the development of these housing units. In the coming
months, staff will solicit the input of the residents of each of the Community
Development target areas proposed for public housing development. The City Commission
will be asked to approve specific development areas and sites thereafter.
Commission approval of this item is recommended.
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