HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM n � � Law Department
_ r
P� `t Matter ID No.
FILE ID:
08-2978
Date: 03/05/2009 Requesting Department: Community Development
Commission Meeting Date: 04/02/2009 District Impacted: 5
Type: ® Resolution 0 Ordinance 0 Emergency Ordinance 0 Discussion Item
0 Other
Subject: EXTENSION OF CONSTRUCTION COMMENCEMENT AND COMPLETION
DATES FOR NIIAMI DREAM HOMES INVESTMENT GROUP INC.
Purpose of Item:
GRANTING MIAMI DREAM HOMES INVESTMENT GROUP, INC., AN EXTENSION TO
COMPLETE CONSTRUCTION OF THE CD BUILDING PROJECT LOCATED AT 1525
NORTHWEST 60"' STREET FROM APRIL 30, 2009 TO DECEMBER 31, 2009, AND FOR THE
CONVEYANCE OF THE CD BUILDING PROJECT TO THE CITY; EXTENSION OF THE
CONSTRUCTION COMMENCEMENT DATE ON THE PROPERTY LOCATED AT 6020
NORTHWEST 15"' AVENUE TO JUNE 30, 2010 AND EXTENSION OF THE CONSTRUCTION
COMPLETION DATE TO JUNE 30, 2011, FOR THE DEVELOPMENT OF A FIFTEEN (15) UNIT
RENTAL PROJECT FOR LOW AND MODERATE INCOME PERSONS, AS INDICATED IN EXHIBIT
I,"A-, ATTACHED AND INCORPORATED; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL
NECESSARY DOCUMENT(S) FOR SAID PURPOSE(S).
Background Information:
Please see attached
I
Budget Impact Analvsis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CLP
if using or receiving capita! fim&
Grants
Final Approvals
(SIGN AND DATE)
Budget_
Risk Management
Purchasin Dept. Director.
Chief City Manager
Page 1 of I
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 05-0357, adopted May 26, 2005, the Miami City Commission approved
the conveyance, with title reverter conditions, of eleven parcels of City owned land directly to
developers, for the construction of affordable housing for eligible low and moderate income persons.
Pursuant to said Resolution, six (6) of the eleven parcels of City -owned land (the "Properties") were
conveyed to Miami Dream Homes Investment Group, Inc. ("Miami Dream Homes"), by quit claim
deed dated September 27, 2005, for the construction of affordable single family homes.
Pursuant to Resolution No. 06-0329, adopted May 25, 2006, the Miami City Commission amended
Resolution 05-0357 to reflect the parcel located at 1525 Northwest 60th Street to be developed as a
new construction multi- family rental project consisting of seven (7) units for low income persons.
Pursuant to Resolution No. 07-0133, adopted March 08, 2007, the Miami City Commission approved
the modification of condition/restriction No. 5 of the corrective quit claim deed, dated July 5, 2006,
from the City of Miami to Miami Dream Homes to provide that construction on the properties of one
(1) of the above referenced single family homes must commence no later than July 1, 2007.
Miami Dream Homes has completed and sold the single family homes on the parcels located at 1545
Northwest 58th Terrace, 1535 Northwest 58th Terrace, 1533 Northwest 58th Terrace, 1543 Northwest
59th Street, 1600 and 1610 Northwest 60th Street.
Pursuant to Resolution No. 08-0250, adopted May 8, 2008, the Miami City Commission granted
Miami Dream homes an extension of time until April 30, 2009 to complete the affordable housing
construction project on the Properties listed in Exhibit "A", and for the conveyance of the multi -family
rental project to the City.
The Administration recommends granting Miami Dream Homes an extension of time to complete
construction of the CD Building Project located at 1525 Northwest 60th Street from April 30, 2009 to
December 31, 2009, and for the conveyance of the project to the City; and an extension of the
construction commencement date on the property located at 6020 Northwest 15th Avenue to June 30,
2010, and extension of the construction completion date to June 30, 2011, for the development of a
fifteen (15) unit rental project for low and moderate income persons, as indicated in Exhibit "A",
attached and incorporated.