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HomeMy WebLinkAboutR-79-0333St1PPORTIVEmwEIETH DADE COUNTY MEETING THE OTHER ONE-HALF RESOLUTION NO. •,:. A., RESOLUTION l-TRANSFERRING'.•FUNDS:FROM.:.THE- .DOWNTOWN„ .DOWNTOWN, PEDESTRIANIZATION:,',STUDL.,--- RIVER JALKAY, AND AVAILABLE 'PROJECT 'INCOME: FKOW,COMMU,NITY,.:-- DEVELQP,MENT ACQUIREi) :-,PROPERTIES'. ,TO 'THE-DOWNTOWNEDCOML.,1 CLEARANCE OF SLUM AND. PROJECT -T0,-, T, ONEHALF OF 'A --PROJECTED .$.74-5',-G00".-COST ',OVERRUN, OF SAID DOCLI i‘v1 EN - FOLLOW" WHEREAS, the City of Miami is committed to participate in the acquisition of slum and blighted properties in the Downtown area for reuse for ousing and the expansion of Miami Dade Community College; and WHEREAS the Dade County Department of Housirtg and Urban De-velopment has informed the City that additional funds will be needed to complete the acquisition of properties for this project; and WHEREAS, it will be necessary to transfer funds from other Community Development projects to this project to make this deficit; and WHEREAS, the City Commission is willing to equally share the estimated cost overrun with Dade CotintY; and WHEREAS, the Dade County Department of Housing and 1JilD0mC6$10E.g1 tittiDENI, rban 1)eveloptnent is responsible for implemetltat pro lee IT E , NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSI N OF THE CITY OF MIAMI, FLORIDA: Section 1. The transfer of the following funds is hereby authorized to meet one-half of the projected cost over1/ of the Downtown EDCOM Clearance of Si -um and Blight Pro ject: a. Third Year Comtittinity Developtuent funds in the amount. of $275.000 from the Downtown River Wa1kWaV. 1/ The above acronym stands for ''Educatiortal Comp MEETING OF IC OMMISSIO TY C : MAY 3 3 ii 1001011011 No7 9 • 3 :T •••••••••••••••••••••••• b. Four Year Community Development funds from the Downtown Pedestrianisation Study, not to exceed $22,500; c. Available project income from properties already acquired with Community 'Development funds, not to exceed $75,000. Section 2. They City shall share the projected cost overrun, now estimated to be` $745,000, equally with Dade County_.. Section 3. The City Manager is hereby instructedto and coordinate with the Dade County Department of Urban, Development to implement this project in an expeditious mannerto effectively utilize the funds herein made available. PASSED AND ADOPTED this 22 day o f M ` , 1979 . ATTEST:;`: RALPH IE, CITY CLERK PREPARED AND APPROVED 'BY: ROBERT F. CLARK ASSISTANT CITY ATTORNEY Housing Maurice A. Ferre M A'Y 0 R> APPRO _. AS TO FORM AND CORRECTNESS: dmip GEORG CITY 6 NOX, J . TORNEY 79-333 TO 37 Joseph R. Grassie City Manager CITY OF MIAMI, ELoRIt)A M8MOR AND UM "'"' May 9, 1979 SuraJtcr: EDCOM Project Funding C• 11EFI:ItCNCt:S. Dena Spillman, Director City Commission AgendaMay 22, 1979 = Citizen Services t...4cLouunts. .......--- ---- -------..------.—.-----------. Dade County Department of Housing and Urban Development (DCHUD) has informed this ; office that there will be an estimated $745,000 budget deficit for the Downtown ; EDCOM Clearance of Slum and Blight project. Attached is a copy of the letter F from Keith Betts explaining the situation. 1 After reviewing the current status of our Community Development projects and budget, it is recommended that the City share the cost overrun equally with Dade County and allocate an additional $372,500 to the project. The County should also be asked to advance the $360,000 mentioned in the last paragraph, which will be returned to them when the Community College purchases the property. This would eliminate the necessitY of transferring funds between the City and the County for that advance. To provide funds for this cost overrun, it will be necessary to transfer funds from other existing projects. The Downtown River Walkway is a project which will be delayed because of the construction of the Conference Center. The bulkheading of the walkway will go ahead in conjunction with the hotel. However, approximately $275,000 would lie dormant until the other activities are completed. Therefore, it is recommended that this $275,000 be transferred to the EDCOM project. • Part of the remainder of the funds needed for EDCOM could be obtained from project income from properties already purchased under the Community Development land acquisition program. The amount available from project income will be approxi- mately $75,000. A firm figure is not yet available from Dade County. Dade County HUD collects those funds for the City and would have them readily available. The remaining amount, now estimated at $22,500-, would be taken from the Downtown Pedestrianization Study. The fourth year allocation for this project is $25,000 and it has been delayed for almost one year. It is the opinion of this office and the Planning Department that this project be terminated. In summary the following sources of funds are recommended to provide an adequate budget for the EDCOM project: Miami River Walkway $275,000. Project Income 75 000+ Downtown Pedestri ani zati on 22,500 liSUPPORTINIE Study $372,500 Joseph R. Grassie Page two May 9, 1979 It should be kept in mind that t�isis abeerequestedctod tkeeprthe City miy nforrt� d; up or down. Either way the County will of the actual costs and refined estimates as they become available. It is recommended that the City Commission approve the attached resolution authorizing the above fund transfers. /rjf Enclosure'; "SUPPORTIVE DOCUMENTS F;L°W" 'SO 79-333 1 ■ 1 L rk ZCE1V EB MAR 20 1979 COMMUNITY DEVELOPMENT ME7R©POL17AN DADS A COUNTY • © 1 A 1401 IV. W. 7th Street Miami, Florida 33125 X!X -XXXOC 547-5319 Ms. Dena Spillman City of Miami Community Development 3342 Pan American Drive Miami, Florida' 17i 0- Dear Ms.)Pillman: As you have requested, we have reviewed the budget status of acquisition in the North Block of, the Ed.Corn ""Project _Downtown. The following chart indicates a budget deficit of approximately $70,000. Department of HOUSING & URBAN DEVELOPMENT March 16, 1979 Appraisal Fees Demolition Relocation. Payments Real Estate Budget 26,400 79,900 626,360 2,467,340 $3,200,000. Actual 32,784 73,500 486,906 2,675,995* $3,269,185 *Of this amount, $275,000 represents a conservative estimate of the acqui- sition cost in excess of appraisals for properties on which the price has not been set by the Court. It is likely that the actual cost will be closer to $200,000, and thus there will be little or no overrun. In a meeting with Nancy Bahn earlier this week we indicated a larger overrun, but this was based on the inclusion of Administrative and Technical Services which are not included in the $3.2 million budget. We have also reviewed the situation regarding the South Block as follows: RealEstate and Equipment Relocation; Payments Demolition• ' Technical Servicefs Appraisals: and Fees Disposition Proceeds City -County Allocation $2,015,836 560,000 90,000 214,660 20,000 $2,990,496 1,000,000 $1,990,496 1,125,000 $ 675,496 3;3 3 Ms. Dena Spillman March 16, 1979 Page Two The total projected deficit is$745,0 00. Additionally, the disposition pro- ceeds on the South Block,r $360 000.Will not be available until after the completion of acquisition, relocation Candrdem listiountf on othe Block. There would need to be a temporary loan to Very truly yours, Keith W. Betts Real Estate Coordinator KWB/lh cc: 1 1 1 E 1