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AGENDA ITEM SUMMARY- FORM Law Department
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��� _ Matter ID No.
FILE ID: r0
Date: 05/20/2010 Requesting Department: Community Development
Commission Meeting Date: 06/17/2010 District Impacted: 5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: MODIFYING THE PALMETTO HOMES OF M MI, INC. AFFORDABLE
HOUSING DEVELOPMENT
Purpose of Item:
AUTHORIZING PALMETTO HOMES OF MIAMI, INC. TO MODIFY THE AFFORDABLE HOUSING
DEVELOPMENT TO BE LOCATED AT 1320 NORTHWEST 61 sT STREET AND 1370 NORTHWEST
,61ST STREET, LEGALLY DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED, FROM
A GREEN TOWNHOME PROJECT TO SEVEN (7) GREEN SINGLE FAMILY HOMES, SUBJECT
TO ALL PERFORMANCE REQUIREMENTS AND RESTRICTIONS PROVIDED IN EXHIBIT "B"
ATTACHED AND INCORPORATED; AUTHORIZING THE CITY MANAGER TO EXECUTE A
PURCHASE AND SALE AGREEMENT IN SUBSTANTIALLY THE ATTACHED FORM, AND ALL
OTHER NECESSARY DOCUMENTS FOR SAID PURPOSE.
Background Information:
Please see attached
Budget Impact Analysis
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:
Final Approvals
(SIGN AND DATE)
CII' Budget
Tusing or receiving capital funds
Grants Risk Managen
Purchasing Dept. Director
Chief cn= City Manager_
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
Pursuant to Resolution No. 09-0335 adopted July 9, 2009, the Miami City Commission approved the
conveyance of two parcels of land located at 1320 Northwest 61St Street and 1370 Northwest 61St
Street, legally described in Exhibit "A", attached and incorporated, to Palmetto Homes of Miami, Inc.
("Palmetto Homes") for the development of green townhomes project.
On February 18, 2010 the developer requested that the green affordable housing development be
modified from a townhome project to seven (7) single family homes, because the per unit cost of
construction of the townhomes would exceed the previously agreed upon sales prices, and the area
would currently not be able to sustain those prices.
The Administration recommends the modification of the Palmetto Homes affordable housing
development located at 1320 Northwest 61St Street and 1370 Northwest 61St Street from a green
townhome project to seven (7) green single family homes, subject to all performance requirements
and restrictions provided in Exhibit B, attached and incorporated.