HomeMy WebLinkAboutM-79-0369RESOLUTION NO.
RESOLUTION APPROVING AND AUTHORIZING
THE EXECUTION OF PROJECT CONTRACTS..
RELATING TO HOUSING PROJECTS IN THE
CITY OF MIAMI DESIGNATED DADE 8-1
(WYNDWOOD) , DADE 8-3 (COCONUT
U11GROVE),
(LITTLE
DADE 8-10 (JACKSON),
HAVANA) AND DADE 8-12 (TOWNPARK) PUR-
SUANT TO THE BASIC AGREEMENT FOR FIN-
ANCING HOUSING IN THE CITY OF MIAMI,
DATED JULY 19, 1976, AND MAKING CERTAIN
DETERMINATIONS ISAID
WITH
HOUSING PROJECTSIN ACCORDANCE
SAID BASIC AGREEMENT.
BE IT RESOLVED by the Commission of the City of Miami,
.Florida:
Section' 1. The...,Commission , (the "Co l f ission") of the
City of lv1iami, Florida )
..(the` "City". has found; and determined
and does hereby declare• that
(a).'The City 'and • Dade_County, Florida (the "County
on July 19, 1976, entered into an`agreement.for. fin-
ancing housing. in the `City (the "Basic Agreement") in
which ,the County. agreed to finance housing ;projects
through the issuance of obligations of the County .(the
"County Obligations");, secured in part by City as-`
sistance, in proceeds of housing bonds of the
City to be issued for such purpose, such projects t•o be
self liquidating; in, that the payment of.the principal
nee
ofand theitrst on such. obligations c"an be.paid in
full from rents,'charges'and '•fees collected by the .:
County therefor, together with such Federal., state arid
private grants, contributions and other ,inc ome and
money which maybe made available therefor .(exclusive
any proceeds of said housing bonds of the City).
• 79-369
R'?
• (b) Pursuant to the Basic Agreement the City
and the County have heretofore approved financial
plans for Housing Project Dade 8-1 (Wyndwood), Housing
Project Dade 8-3 (Coconut Grove), Housing Project Dade
8-10 (Jackson), Housing Project Dade 8-11 (Little,
Havana) and Housing Project 8-12 (Townpark) (the
"Housing Projects")
(c) The Housing Projects are hereby determined
to be "Housing" as defined in the Basic Agreement.
(d) The proposed residents of the Housing Projects
are families and persons eligible for assistance under..
Section 8 of the;United States Housing Act of 1937, as
amended ("Section 8")', and such families and persons are
hereby determined to be 'families'' and persons,` includ-
ing the elderly, °of low or r moderate income" as defined
in the Basic Agreement and Ordinance No. 8514 of the
City (the "City. Ordinance") authorizing said housinj
bonds of the City (the "City.Bonds")
(e) In, accordance with the Basic
Agreement the
City has obtained and given due consideration to the
oninion`of counsel for the City upon the legality of
the:, Housing Projects under applicable law, the City
Ordinance and the Basic Agreement.
(f) The. City hereby determines that each Housing
Project will be self-liquidating in that the payment of
the principal of and interest on the County Obligations
to be issued finance eachHousing Project can be
paid in full from rents to be collected by the County
therefor, together with Federal housing assistance
payments to be made available therefor under Section 8
(exclusive of any proceeds of said housing bonds of the
City)•
2
(g)
Pursuant to the, Basic Agreement, the City and
the County plan to enter into . a Project Contract'' for
each of the HousingProjects (the "Project Contracts";),
which Project Contracts provide, among other things,
that if any provision of the Project Contracts shall;be
in conflict with the Basic Agreement, the Project
Contracts shall be controlling.
Section 2. The City hereby deems and determines that
with respect . to the• Housing Projects all provisions of the
Basic Agreement, as supplemented by the Project Contracts,
been fully/complied with by both the County and
shall have
the
City upon the execution of the Project Contracts.
Section 3 The City is advised by its counsel and
determines that the Housing Projects, the, Project
hereby
h er
Contracts, the; County Obligations and the City assistance
provided for in the Project Contracts all conform to, and
are not'in conflict with, the provisions of the City
the proposition respecting the City Bonds approved by the
voters " of the City and the decree of the Circuit Court of
the Eleventh Judicial Circuit of Florida, in and for, Dade'
County,
validating the City
Bonds.
Section u, The City. hereby approves the project Con-
tracts in substantially the form presented to the Commission
at. the meeting of the Commission at which this resolution is
subject to such minor changes as
in such forms of Project Contracts by the officers
of the City executing the same pursuant to this Section.
The City Manager is hereby authorized to execute the Project
Contracts for and on behalf of the City with the official
and grade
adopted,
Ordinance,.
may ,be approved
seal of the City. to be impressed thereon and attested by the
Clerk Or a Debuty Clerk of the City, and suchexecution:
shall be`conclusive evidence of the City's approval of any
suc
come
h' changes in said forms of Project Contracts.
Section`-5. The, provisions of this resolution shall be
effective immediately upon its adoption.
PASSED AND ADOPT
ATTEST:
RALPH G.
APPROVED BY:
ROBERT>F.CLARK
ASSISTANT CITY ATTORNEY
D this day of , ,:1979.�
APPRO1-D AS TO FORM AND CORRECTNESS:.
G' ORGE `r . • KNOX, JR.
CITY !'TORNEY
•
El
- -
rivits-rn.OPOI.;ITAN DiskOrt: COUNT' • rirLonaDA
1401 N. IV. 7th Street
Miami, Florida 33125
x**.f--39INcx
547-5038
Department of
HOUSING & URBAN DEVELOPMENT
• ---April 18, '1979
.•,
Mrs. Dena Sioi13.mari, Administrator
Community Development
City of Miami - Dept. of Administration
Planning & Zoning Board
P. O. Box 330708
Miami, Florida 33133
Re: City of Miami
Section 8 Housing Projects
Dade 8-1 (dynd.vood)
Dade 8-3 (Coconut Grove Elderly)
Dade 8_.10 (Jackson Handicapped)
Dade 8-11 (Little Havana)
Dade 8-12 (Townpark)
Dear Dena.:
•
The resolution approving.the Project Contracts for the referenced
projects has been passed by the County Cornmissi.on and now must be
approved by the City. I am forwarding the City resolution for this
as prepared by our Bond Counsel. The Project Contracts to be ex-
ecuted are attached. •
When I sent the Financial Plans to the City for Commission
action, I understand they found their way to your office to be
prepared for the commission agenda. Therefore, I am forwarding
these directly to you. Since the bonds are being sold on May 15th,
it is important that this resolution be adopted at the City Commission
meeting scheduled for May 10th.
Mrs. Dena Spillman
April 18, 1979
Page 2
Should there be any changes made to the resolution., would
you please first consult with Ed DeSearhortMax VoneaVon Hollwer eg of
f:
Brown, Wood, Ivey,Mitchell & Petty.
212-3149.-7500.
Very truly yours
HVR/km
Enclosure'
cc:. IJoseph :R..Grassie
Edward M. DeSear
Charles A..,Citrin
James E. Gunderson
PROJECT CONTRACT RELAXING TO HOUSING
PROJECTS:: IN THE CITY OF MIAMI-
DESIGNATED = DADE,8=10(JACKSON) AND
DADE 8-12 (TOWNPARK)
THISPROJECT CONTRACT, dated as of
1979 by and between THE CITY OF MIAMI, a municipal corpora
tion (hereinafter called the "City") and DADE COUNTY, FLORIDA,
a county (hereinafter called the "County") ,, : in the State of
Florida:
In consideration of.
contained to be performed by
T N: E S S: E T H:
the covenants and agreements herein;
the City and the
County and other
paid by each of .the parties to:
good and valuable consideration
the other, the receipt, of which is hereby severally acknowledged,
THE CITY OF MIAMI, FLORIDA, and DADE COUNTY, FLORIDA, hereby
agree as follows:
Section 1." This Contract is executed and delivered pur;
suant to that certain:. Agreement designated,
-AGREEMENT FOR •FINANCING HOUSING,,,,,.
IN' THE CITY' OF -MIAMI BY AND 'BETWEEN
DADE COUNTY AND THE CITY OF MIAMI
dated as of July 19,
By and between the City and the County
(herein called the "Basic
the Basic .Agreement
Agreement"
is Contract
1976
supplements
is intended that the Basic Agreement
and this Contract shall be part of an overall agreement between the
City and the County. Words and terms used in this. Contract which
and'
are defined the Basic Agreement shall have
costs
Section 2. The County and the City hereby covenant and
represent that each of them is authorized to enter into and to be
bound by this Project Contract and to do all of the acts and
things- and to perform all of the obligations undertaken by
each
ursuant' to this Project Contract, and the Basic Agreement.
of_ them p
Section 3. The County and the City hereby agree to co-
operate in providing and financing certain Housing Projects lo-
cated` within the corporate boundaries of the City described and
located as
follows
-..One hundred (100).units of housing
;the,hand icapped in one .high-rise eleva-
'` tor structure to'- be located at N.W 16th
Terrace at approXimately_13th_, Avenue
•(Also. known as FL. 29-8023 005) .
12: Forty-five (45) units of ,housing :for
families ;to==be located at N.W. 19tEh
Street; and 5th;Avenue (S.W. and S:. .
corners). (Also:known as FL.
29-8023-007�).
he "Housing Projects".
Dade 8 10:
Dade.
herein called t
It. is estimated that the:total
Section 4.
County of prov i
cost to; the
ding the Housing Projects, ' including; financing
shall be Four Million Three Hundred and Eighty -Thousand
Dollars ($4,380000). The County agrees to undertake, carry
out and cornplete the Housing Projects in accordance with the
plans, specifications, contracts and, other contract documents
Y as practicable. � The
approved by the City
as expeditiously
Count further agrees that it shall issue its revenue bonds
(herein called the "County
Obligations") in the principal
� ;,
amount of $4,380,000 to pay, with other funds` available there-
fore, the entire cost of the Housing Projects. In addition,
maximum Federal assistance through an aggregate annual
_Iiuumiuu om
contribution of $ 547,;, 560; will beprovided for the Housing
Projects by contract: with the United States Department of
Housing and Urban Development through the Section8 program
of .the Housing and Community Development Act of 1974., The'
construction and operation of the Housing Projects shall" be
subject to applicable Federal regulations and conditions
under said Section 8 program.
Section 5. In order to assist the County in financing
the Housing Projects and to increase the security: and market-
ability of the 'County "Obligations,: the City, pursuant to the
Basic Agreement and this Contract, hereby covenants and agrees
to provide City Assistance for financing the Housing Projects.
through the use of proceeds of City Bonds , as herein provided.
As City Bonds are issued and sold by the City from time to time,.
the net proceeds thereof remaining after deducting all costs
and expenses of or attributable to such issuance and sale shall
be paid into a trust fund or other earmarked account establi.sho
in a bank or other depositary by the City, and shall be held,
administered, invested and reinvested by the City for the
purposes in. the Ordinance,; the Basic Agreement and this
Project .Contract. Earnings and profits derived from such
investments shall be credited and losses shall, be charged to
such fund.
Section 6. From the monies . paid into such fund, a sum
equal to the maximum Principal; and;; Interest Requirements
(as defined in the Trust Indenture securing said County
.Obligations) for any single Bond. Year (as definedin said Trust
Indenture) for the County Obligations, which sum.may not
exceed $500,000, shall be made available by the City as City
for in- Section 208 of said Trust Indenture. Such
held and administered by the trustee under said Trust Indenture
as additional security"for the County Obligations issued or
financn the Housing Projects and
for the,
Assistance` to assist the : County` in f inan"c%ng the Housing
Projects. Such'suin Ishall be transferred by the City to the,
County contemporaneously with the delivery by the County of- its
County Obligations and/or the°receipt'by'the County of the
proceeds of such obligations. Such transfer shall, be effected
by the payment or deposit tothe credit of theal
Speci
Housing Fund establ ished by said Trust Indenture as prov ided
fund shall be
incurred for the purpose of g
shall be held, administered, applied or otherwise used
Housing Projects in: the manner and for the purposes provided in
the Basic . Agreement, in this Project Contract
Trust _Indenture.
Section 7 Each year the County shall make a payment
in lieu of taxes (herein called PILOT) from. the excess net
and in the said
amount equal
revenues of each 'dousing Project, if any, in an
to zero percent (0%)_ of the annual rent collected at Dade
8-10 and equal to two and one-half percent (2.5%) of' the
annual rent
collected at
Dade 8-1
Federal Housing 'Assistance Payments,
exceeding such excess net revenues for the particular year.
the excess net revenues shall
PILOT at the full rates described hereinabove, the City and
the Countyshall each receive a portion of the PILOT in the
to the total tax rate ,of the
including the respective
If
ratio thatits tax
rate bears
but not, in
any event,
be sufficient to permit
a
City and the County; if the excess net revenues shall be
insufficient to permit a PILOT. at the full rate;, the City
•
1
1
its full
PILOT as the excess
shall receive as much of
revenues will permit, and
if any, sha
ll be paid to the County in the manner described
ereinabove. Excess net revenues shall mean the gross
revenues of each Housing
Project. less (i) the operating
expenses for such Housing
Project, or (ii) so long as any
under � the ,Trust .Indenture,-
County Obligations are outstanding
he First through the Seventh deposits required by
the spun of t
Section 503 of the Trust Indenture. FLORIDA,as caused
the CITY►
IN :WITNESS WHEREOF ► OF MIAMI,
this Con
tract to be executed in its name and behalf by its
Manager anits official seal to be hereunto affixed and
City � Clerk�.thereunto
attested by its City Clerk or a Deputy City
dul authorizer]; and DADE COUNTY, FLORIDA►'has caused this
y its County
Contract: to be executed in its name and behalf by Commissioners
misiS
Manager and°the official seal of the Board of County Co m
a Deputy
to be hereunto affixed and attested by the Clerk or
Clerk
of said Board thereunto duly authorized as of the
of . 1979.
ATTEST
City Clerk
(CITY SEAL)
ATTEST::
the remaining excess net revenues,
Clerk of the Board of
County Commissioners
(COUNTY SEAL)
rl i r" .J ..,c;,;i
C►TY 'li f rc s
CITY OF MIAMI",t.FLORIDA
Bys_
City
anag er
DADE:000NTY, FLORIDA
By
County :Manager
aFROVED As TO,coNTENTs'
day
DENA SPILLMAN, DIRECTOR
DEPARTMENT OF CITIZEN SERVICES-
•
PROJECT CONTRACT RELATING TO HOUSING.
PROJECTS IN THE CITY OF MIAMI
DESIGNATED- DADE 8-1 (WYNDWOOD) ,
DADE 8-3 (COCONUT GROVE) AND DADE
8-11 (LITTLE HAVANA)
THIS PROJECT CONTRACT, dated as o
1979 by and between THE CITY OF MIAMI, a municipal
tion (hereinafter called the "City") and DADE COUNTY, FLORIDA, •
the State of
a county (hereinafter
Florida:
called the "County").
ITN E SSET
in
corpora-
n consideration of the covenants and 'agreements herein
contained to be perforined by the City and the County and
other
parties to
good and valuable consideratiOfl paid by each of the.
the other, the receipt of which is hereby severally acknowledged,
MIAMI, FLORIDA, and DADE COUNTY, FLORIDA, hereby
THE CITY OF
agreeas follows:
Section 1. This Contract is executed and delivered purr
suant to that' certain Agreement designated,
AGREEMENT: FOR FINANCING, HOUSING
IN THE CITY OF MIAMI BY AND BETWEEN
DADE COUNTY AND THE CITY OF MIAMI
By ard between the City and
the County
(herein called the "Basic 'Agreement")
the Basic Agreement and
dated as of July 19, 1976
This Contract supplements
is intended that the Basic
and this Contract shall be part of an overall agree
City and the County. Words and terms used in: this
are defined the Basic `Agreement shall have
Agreement
merit between the
Contract which
thesame meanings as
in the Basic Agreement. If any provision of this Contract shall
Section 2. The County and the Cityhereby covenant and
represent that each of :them is authorized to enter into an
bound by this Project Contract and to do all of the acts and
things; and to perform all of the obligationsundertaken
of them pursuant to this Project Contract" and the Basic Agreement.
d to be
by each
Section 3. The County and the City hereby agree to co-
operate in providing and financing certain Housing Projects lo-
cated within the corporate boundaries of the City described and
•
located as follows;
Dade 8-1: Forty (40) "units of housing for fami-
lieS to be located on 7 sites in the
general vicinity of N.W. 33rd Street
and 2nd Avenue. (Also known as FL.
29-8023-.004) .
Dade 8-
Dade
Sixty-five (65) units of housing for
the elderly in one medium -rise eleva-
tor structure to be located at Douglas'
Road and Day "Avenue (N.E. corner).
(Also known as FL. 29-8023-003).
-11: Seventy-five'(75) units of housing
for the elderly in one high-rise ele-
vator structure to be located at S.W.
17th Avenue and 9th Street (S.W. cor
ner). (Also known as FL. 29-8023-006)
herein called the "Housing Projects" .
Section:4. It is estimated that the total cost to the
County of providing the Housing Projects,
costs, shall be Four Million Seven Hundred
Dollars ($4,780,000). The County agrees to undertake, carry
out and complete' the Housing Projects in accordance
plans, specifications, contracts and other contract documents
approved by the City, as expeditiously as practicable. The
County further agrees that it shall . issue its revenue bonds
(herein called the "County obligations") in the principal
amount of "$4,780s,000 to pay, with other funds available
•
including financing
and Eighty Thousand
with the
1111111/
-equal to the` maximum Principal 'and
(as
defined
therefore, the entire cost of the`Housing Projects.' •In
addition, maximum Federal assistance through an aggregate`
annual contribution of $662,666 will be provided for' the
Housing Projects by contract with the United States Depart-
ment of Housing and Urban Development through the Section 8
program of the Housing and Community Development Act- of 1974.
The
be subject to applicable Federal regulations and
under said Section 8 program.
construction and operation of the `Housing 'Projects
shall.
conditions
Section 5. In order to assist the County in- f nanci`ng
the Housing Projects and to increase the security and market-
ability of the County Obligations, • the City, pursuant to the
Basic Agreement :and 'this :Contract hereby covenants and agrees
to provide City ABsistance for financingthe"Housing Projects
through the use . of proceeds of City Bonds as herein` provided .
As:City`Bondsare
issued and sold by the City from time to time,
the net proceeds thereof remaining
-and expenses of or `attributable tosuch issuance and
be paid into a trust fund Or other earmarked account•
in a bank or other depositary by the City and shall be held,,
after deducting all
costs
sale shall
established
administered, invested and reinvested by the City for the
purposes, in the Ordinance, the Basic Agreement and this
EarningS and profits derived from such.
Section 6. From .the monies paid
Interest`Requireents,
the Trust Indenture securing
Obligations) for any single Bond Year `(as
defined in said Trust
Indenture) the:County Obligations, which sum may not
for
000, shall be made available by the City as City
exceed. $600, �... � �
nce to assist the County in financing the Housing
Assists � � � � �
Prood to th
ects. Such sum shall be transferred by the City
� of its.
with the delivery by the County
County contemporaneously
�� the County of� the
Obligations and/or the receipt by
County - .
f such obligations. Such :transfer shall be effected
proceeds o ' �� ��. �
deposit to the creditof the Special
by said Trust Indenture: as provided
by the payment
Housing Fund established
for in Section 208 of said Trust.
held administered by the trustee under said Trust
and adm
for the -County Obligations; issued or
as
additional secur ity
incurred
shall be
Housing Projects in t
the' Basic Agreement,
Trust
for the purpose of financing the Housing
: the.
held, administered, applied or, otherwise
purposes provided. in
he manner and for
in this Project Contract and in the said
Indenture. Such fund shall
be
Indenture
Projects
used'for
and
the
Indenture.
Section 7. Each year the Countyshall make a payment
�
in lieu of taxes (herein called PILOT)- from the excess net
revenues of each Housing Project, if any,
in an amount equal
to to and one-half percent .(2 5%) of the annual rent collec-
ted at Dade 8-1, equal to five and one-half percent (5.5%) of
the annualrent collected at Dade 8-3 and equal to two and
one-half percent (2.5%):of the annual rent collected at Dade
8-11including the "respective Federal Housing Assistance
,
Payments, but not, in any
event, exceeding such excess net
articular year. If the excess net revenues_
revenues. for the p .
shall
be sufficient to permit a PILOT at the full .rates de-
scribedhereinabove,the City
and the County shall each re -
ceive Portion of the PILOT in the ratio that its tax rate
�a,� d the County; if
bears to the total tax rate of the City anit .a
the excess net revenues shall be insufficient to perm PILOT at the full rate, the City shall .receive as much of
the excess net revenues will permit, and
its full PILOT as shall be paid to
the remaining excess net revenues, if any,
the County in the manner described hereinabove. Excess net
shall mean the gross revenues of each Housing �Proj ect
revenues � � � - � �� � ect, � or
less (i) the operating expenses for such Housing Proj
under
(ii) so lng as any
County Obligations are outstanding
nture, the,sum of the First through the Seventh
the Trust Inde
uired,by Section 503 of the Trust Indenture.:
deposits req � � � � � ` has
the CITY OF MIAMI, FLORIDA,
IN WITNESS_, WHEREOF 1
racy to be executed in its,name and behalf by
caused .this -Copt � � ��
`er.� and its official seal to be hereunto affixed
its= City Manager g
Deputy City Clerk thereunto
and attested by �its City Clerk or a. Dep Y
duly authorized,
and DADE COUNTY, FLORIDA, has caused this Con-
tract to be executed in its name; and behalf by to
and the official seal of the Board of County Commissioners rk of
be
the Clerk� or a Deputy Cle
hereunto �aff affixed and attested by � ., day.., of
said Board thereunto duly authorized as of the __
1979.
ATTEST :;
CityC erk
,'(;CITY SEAL
ATTEST:,
Clerk of the Board of
County Commissioners
COUNTY SEAL)
/
CITY OF MIAMI,FLORIDA
By:
City Manag er
DADE COUNTY,
FLORIDA
Cou Manager
.APPROVED AS TO CONTENTS:
DENA SPIFEiT N, DIRECTOR
DEPARTMENT OF CITIZEN SERVICES
f