HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM Law Department
` Matter ID No.
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Date: 06/14/2010 Requesting Department: Community Development
Commission Meeting Date: 07/08/2010 District Impacted: 5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: EXTENSION OF CONSTRUCTION COMMENCEMENT AND COMPLETION
DATES FOR MIAMI DREAM HOMES INVESTMENT GROUP INC.
Purpose of Item:
GRANTING MIAMI DREAM HOMES INVESTMENT GROUP, INC., AN EXTENSION OF THE
CONSTRUCTION COMMENCEMENT DATE ON THE PROPERTY LOCATED AT 6020
NORTHWEST 15TH AVENUE FROM JUNE 30, 2010 TO JULY 1, 2011 AND EXTENSION OF THE
CONSTRUCTION COMPLETION DATE FROM JUNE 30, 2011 TO JUNE 30, 2012, FOR THE
DEVELOPMENT OF A FIFTEEN (15) UNIT RENTAL PROJECT FOR LOW AND MODERATE
INCOME PERSONS, AS INDICATED IN EXHIBIT "A", ATTACHED AND INCORPORATED;.
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENT(S) FOR SAID
PURPOSE(S).
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:
CIP
If using or receiving capital funds
Final Approvals
(SIGN AND DATE)
Budget,
Grants Risk Management
Purchasing Dept. Director
Chief City Manager.
Page 1 of 1
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 of Miami ("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 including 6020
Northwest 15th Avenue (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 and on July 5, 2006, a Corrective Quit -Claim Deed was executed
between the City and Miami Dream Homes.
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 and
reversion to the City the site located at 1477 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.
Pursuant to Resolution No. 09-0174, adopted April 2, 2009, the Miami City Commission approved an
extension of construction commencement date on the property located at 6020 Northwest 15th
Avenue to June 30, 2010 and construction completion date to June 30, 2011 and on May 1, 2009
executed and Amended Corrective Quit -Claim Deed.
On January 22, 2010, a Second Amended Corrective Quit -Claim Deed executed between the City
and Miami Dream Homes and on May 26, 2010, Miami Dream Homes submitted a request for the
extension of the construction commencement and completion dates.
The Administration recommends granting Miami Dream Homes an extension of the construction
commencement date on the property located at 6020 Northwest 15th Avenue to July 1, 2011, and
extension of the construction completion date to June 30, 2012, for the development of a fifteen (15)
unit rental project for low and moderate income persons, as indicated in Exhibit "A", attached and
incorporated.
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 with the exception of the property located at 1543
Northwest 59th Street which has not been sold.