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Miami, FL 33133
Certified Copy
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File Number: 07-00892
Enactment Number: R-07-0372
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE THE SECOND
AMENDMENT AND CONSENT TO ASSIGNMENT OF PURCHASE AND SALE
AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, OF THE CITY OF
MIAMI ("CITY") OWNED REAL PROPERTY LOCATED AT 779 NORTHWEST
57TH STREET, MIAMI FLORIDA, BETWEEN THE CITY AND PROGRESSIVE
VISION COMMUNITY DEVELOPMENT CORPORATION, INC., A FLORIDA
NOT-FOR-PROFIT CORPORATION ("PROGRESSIVE"), TO: (1) AUTHORIZE
THE ASSIGNMENT OF PROGRESSIVE'S RIGHTS AND OBLIGATIONS UNDER
THE AGREEMENT TO A NEW ENTITY, WHOSE MEMBERS SHALL BE SOLELY
PROGRESSIVE, AND PALMETTO HOMES OF MIAMI, INC., IN ORDER TO
COMPLY WITH THE FINANCING REQUIREMENTS SET FORTH IN THE LOAN
COMMITMENT DATED JUNE 14, 2007, FROM GIBRALTAR PRIVATE BANK &
TRUST COMPANY, AND (2) EXTEND THE DEADLINE FOR SATISFACTION OF
CONDITIONS PRECEDENT BY A PERIOD OF SEVENTY (70) DAYS, EXPIRING
ON SEPTEMBER 7, 2007, WITH THE TERMS AND CONDITIONS MORE
PARTICULARLY SET FORTH IN SAID SECOND AMENDMENT.
WHEREAS, the City of Miami ("City") is the owner of certain real property located at 779 Northwest
57th Street, Miami, Florida ("Property"); and
WHEREAS, the City has a severe shortage of housing within the affordability range of families and
individuals of very low, low and moderate -income; and
WHEREAS, the City declared the property surplus and authorized the execution of an Agreement
for Purchase and Sale ("Agreement") with Progressive Vision Community Development Corporation,
Inc. ("Progressive"), pursuant to Resolution No. 05-0347, adopted May 26, 2005; and
WHEREAS, pursuant to Resolution No, 07-0192, adopted April 12, 2007 the City Commission
authorized the City Manager to execute a First Amendment to the Agreement to provide for: (1) three
month extension to satisfy the conditions precedent, and (2) modification of the unit count and type of
unit to provide three (3) owner occupied townhouse units within the economic affordability range of
very low, low and/or moderate income families and/or individuals, with the terms and conditions more
particularly set for in said First Amendment; and
WHEREAS, on June 22, 2007, Progressive requested the City's consent to: (1) a seventy (70)
days extension of the period in which to satisfy the conditions precedent, and (2) the assignment of
the Agreement by Purchaser to a new entity that will have, as its sole members Progressive and
Palmetto Homes of Miami, Inc.; and
WHEREAS, Progressive has represented to the City that it needs the City's consent to the
aforementioned requests in order to receive construction financing pursuant to the loan commitment
dated June 14, 2007 from Gibraltar Private Bank and Trust Company ("Loan Commitment"); and
City of Miami Page I of 3 R-07-0372
File Number: 07-00892 Enactment Number: R-07-0372
WHEREAS, it is in the best interest of the City to extend the date for closing by seventy (70) days,
expiring September 7, 2007, and to grant the purchaser the ability to assign the Agreement to the new
entity, as required by the Loan Commitment, in order for the purchaser to obtain the construction
financing;
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 City Manager is authorized(l) to execute the Second Amendment to the
Agreement, of the City -owned real Property, between the City and Progressive, in substantially the
attached form, to: (1) authorize the assignment of Progressive's rights and obligations under the
Agreement to a new entity, whose members shall be solely Progressive, and Palmetto Homes of
Miami, Inc., in order to comply with the financing requirements set forth in the Loan Commitment, and
(2) extend the deadline for satisfaction of conditions precedent by a period of seventy (70) days,
expiring on September 7, 2007, with the terms and conditions more particularly set forth in said
Second Amendment.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor.(2}
Date: JUNE 28, 2007
Mover: COMMISSIONER REGALADO
Seconder: VICE-CHAIRMAN SANCHEZ
Vote: AYES: 4 - COMMISSIONER GONZALEZ, SARNOFF, SANCHEZ AND REGALADO
ABSENT: 1 - COMMISSIONER SPENCE-JONES
Action: ADOPTED
Date: JULY 10, 2007
Action: SIGNED BY THE MAYOR
City of Miarni Page 2 of 3 R-07-0372
File Number: 07-00892
Enactment Number: R-07-0372
1, Priscilla A. Thompson, City Clerk of the City of Miami, Florida, and keeper of the records thereof, do
hereby certify that this constitutes a true and correct copy of Resolution No. R-07-0372, with
attachments, passed by the City Commission on 6/28/2007.
November 14, 2008
Date Certified
{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 3 of 3 R-07-0372