HomeMy WebLinkAboutR-09-0089Vop City of Miami
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Resolution: R-09-0089
File Number: 09-00173
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 2/26/2009
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING (1) THE ASSIGNMENT OF THE PURCHASE AND SALE
AGREEMENT WITH BISCAYNE HOUSING GROUP, LLC, A FLORIDA LIMITED
LIABILITY COMPANY (THE "DEVELOPER"), PURSUANT TO RESOLUTION NO.
09-0022, ADOPTED JANUARY 15, 2009, FOR THE CITY OF MIAMI OWNED
PROPERTY LOCATED AT 400-420 SOUTHWEST 8TH AVENUE AND 430
SOUTHWEST 8TH AVENUE, MIAMI, FLORIDA, AS LEGALLY DESCRIBED IN
EXHIBIT "A", ATTACHED AND INCORPORATED, TO TEATRO MARTI
APARTMENTS, LLC, A NEWLY FORMED ENTITY, FOR THE DEVELOPMENT OF A
MIXED-USE, ELDERLY HOUSING RENTAL PROJECT; (11) THE EXTENSION OF
THE CONSTRUCTION COMMENCEMENT DATE FROM OCTOBER 1, 2009 TO
OCTOBER 31, 2009, FOR THE CONSTRUCTION OF A MINIMUM OF
TWENTY-FIVE (25) UNITS; (111) IN THE EVENT THAT THE PROJECT IS AWARDED
FUNDING FROM MIAMI-DADE COUNTY AND/OR FLORIDA HOUSING FINANCE
CORPORATION TAX CREDITS, THE CONSTRUCTION COMMENCEMENT DATE
WILL BE EXTENDED TO JUNE 30, 2010 FOR THE CONSTRUCTION OF A
SEVENTY (70) UNIT PROJECT; AND (IV) ALL OTHER CONDITIONS AND
RESTRICTIONS AS INDICATED ON EXHIBIT "B", ATTACHED AND
INCORPORATED; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE
THE NECESSARY DOCUMENTS FOR SAID PURPOSE.
WHEREAS, On October 21, 2008, Biscayne Housing Group, LLC (the "Developer") submitted
an Affordable Housing Development Proposal to the City of Miami (the "City") for the development of
a mixed-use affordable rental development for the elderly (the "Project") on the City -owned properties
located at 400-420 Southwest 8th Avenue and 430 Southwest 8th Avenue, Miami, Florida, as legally
described on Exhibit "A", attached and incorporated (jointly referred to as the "Property"); and
WHEREAS, the Developer is a for-profit limited liability company formed on September 1, 2004
to develop affordable housing; and
WHEREAS, pursuant to Resolution No. 09-0022, adopted January 15, 2009, the Miami City
Commission authorized the conveyance of the City -owned parcel of land located at 400-420
Southwest 8th Avenue and 430 Southwest 8th Avenue, Miami, Florida, commonly known as Teatro
Marti Property, to the Developer for the development of a mixed-use, elderly housing rental project;
and
WHEREAS, the Developer has created a separate legal entity for the development of the
Project known as Teatro Marti Apartments, LLC; and
WHEREAS, the Administration recommends the following: (i) that the City authorize the
assignment of the Purchase and Sale Agreement with the Developer, pursuant to Resolution No. 09-
0022, adopted January 15, 2009 to Teatro Marti Apartments, LLC, a newly formed entity, for the
City of Miand Page 1 of 2 File Id. 09-00173 (Version: 1) Printed On: 5/31/2017
File Number: 09-00173 Enactment Number: R-09-0089
development of a mixed-use, elderly housing rental project; (ii) the extension of the construction
commencement date from October 1, 2009 to October 31, 2009, for the construction of a minimum of
twenty-five (25) units; (iii) in the event that the Project is awarded funding from Miami -Dade County
and/or Florida Housing Finance Corporation tax credits, the construction commencement date will be
extended to June 30, 2010 for the construction of a seventy (70) unit project; and (iv) all other
conditions and restrictions as indicated on Exhibit "B", attached and incorporated;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated as if fully set forth in this Section.
Section 2. The Miami City Commission authorizes the following: (i) the assignment of the
Purchase and Sale Agreement with the Developer, pursuant to Resolution No. 09-0022, adopted
January 15, 2009, to Teatro Marti Apartments, LLC, a newly formed entity, for the development of a
mixed-use, elderly housing rental project; (ii) the extension of the construction commencement date
from October 1, 2009 to October 31, 2009, for the construction of a minimum of twenty-five (25) units;
(iii) in the event that the Project is awarded funding from Miami -Dade County and/or Florida Housing
Finance Corporation tax credits, the construction commencement date will be extended to June
30,2010 for the construction of a seventy (70) unit project, and (iv) all other conditions and restrictions
as indicated on Exhibit "B", attached and incorporated.
Section 3. The City Manager is authorized{1} to execute the necessary documents for said
purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor.{2}
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRU
CITY ATTORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including but not limited to those prescribed by applicable City Charter
and Code provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File Id. 09-00173 (Version: 1) Printed On: 5/31/2017