The URL can be used to link to this page

Home My WebLink AboutPre Legislation£-;�...;.--... City of Miami City Hall 3500 Pan American Drive Legislation Miami, FL 33133 www.miamigov.com Resolution: R-10-0287 File Number: 10-00761 Final Action Date: 7/8/2010 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), GRANTING MIAMI DREAM HOMES INVESTMENT GROUP, INC., AN EXTENSION OF TIME TO COMPLETE THE CONSTRUCTION AND CONVEY TO THE CITY, THE COMMUNITY DEVELOPMENT BUILDING PROJECT LOCATED AT 1525 NORTHWEST 60TH STREET, MIAMI, FLORIDA, LEGALLY DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED, FROM JUNE 30, 2010 TO DECEMBER 30, 2010; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS FOR SAID PURPOSE(S). WHEREAS, pursuant to Resolution No. 05-0357, adopted May 26, 2005, the Miami City Commission approved the conveyance, with title reverter conditions, of eleven (11) parcels of City of Miami ("City") owned land directly to developers, for the construction of affordable housing for eligible low and moderate income persons; and WHEREAS, on September 27, 2005, a Quit Claim Deed was executed between the City and Miami Dream Homes Investment Group, Inc. ("Miami Dream Homes"); and WHEREAS, on April 28, 2006, the Housing and Commercial Loan Committee approved the allocation of $796,993 in Home Investment Partnership ("HOME") Program funds and $240,007 in State Housing Initiative Partnership Program ("SHIP") funds in connection with the development of the Community Development ("CD") Building project; and WHEREAS, on July 5, 2006 Loan Agreements in the amounts of $796,993 in HOME funds and $240,007 in SHIP funds were executed between the City and Miami Dream Homes; and WHEREAS, pursuant to Resolution No. 06-0329, adopted May 25, 2006, the Miami City Commission amended Resolution No. 05-0357 to reflect the parcel located at 1525 Northwest 60th Street, Miami, Florida, to be developed as a new construction multi -family rental project consisting of seven (7) units for low income persons and said property will be conveyed to the City upon issuance of a Certificate of Occupancy; and WHEREAS, on July 5, 2006, a Corrective Quit Claim Deed was executed between the City and Miami Dream Homes; and WHEREAS, pursuant to Resolution No. 07-0133, adopted March 8, 2007, the Miami City Commission approved the modification of condition/restriction No. 5 of the Corrective Quit Claim Deed, dated July 5, 2006, approving the extension of the commencement of construction to July 1, 2007 and the reversion of the property located at 1477 Northwest 60th Street, Miami, Florida, to the City; and WHEREAS, 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 Gry ofA lmru Page 1 0f3 File Id: 10-00761 (Version.: 1) Printed On: 7/21/2010 File Number 10-00761 Enaament.Number. P-10-0287 affordable housing construction project on the property described in Exhibit "A", to said Resolution, and for the conveyance of the multi -family rental project to the City; and WHEREAS, pursuant to Resolution No. 09-0174, adopted April 2, 2009, the Miami City Commission granted Miami Dream homes an extension of time to complete construction of the CD Building project and for the conveyance of the property from April 30, 2009 to December 31, 2009; and WHEREAS, on May 1, 2009 an Amended Corrective Quit -Claim Deed was executed between the City and Miami Dream Homes; and WHEREAS, on September 18, 2009, the Housing and Commercial Loan Committee approved an additional allocation of $100,000 in Housing Opportunities for Person with AIDS ("HOPWA") funds that will assist with the completion of the project and make the project financially feasible; and WHEREAS, on October 30, 2009, the developer submitted a request for an extension of the construction completion date from December 31, 2009 to June 30, 2010; and WHEREAS, pursuant to Resolution No. 09-0565, adopted December 17, 2009, the Miami City Commission approved an extension of time to complete construction and convey to the City the CD Building project, from December 31, 2009 to June 30, 2010; and WHEREAS, on January 22, 2010, the Second Amended Corrective Quit -Claim Deed was executed between the City and Miami Dream Homes; and WHEREAS, on February 5, 2010, a Loan Agreement in the amount of $100,000 in HOPWA funds was executed between the City and Miami Dream Homes; and WHEREAS, on May 26, 2010, Miami Dream Homes submitted a request for the extension of the construction commencement and completion date; and WHEREAS, the construction sites located at 1545 Northwest 58th Terrace, 1535 Northwest 58th Terrace, 1533 Northwest 58th Terrace, 1543 Northwest 59th Street, 1600 and 1610 Northwest 60th Street, Miami, Florida, were completed and the properties were sold with the exception of the property located at 1543 Northwest 59th Street, Miami, Florida; and WHEREAS, 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, Miami, Florida, legally described in Exhibit "A", attached and incorporated, from June 30, 2010 to December 30, 2010, and for the conveyance of the project to the City; 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 referenced and incorporated as if fully set forth in this Section. Section 2. The Miami City Commission grants Miami Dream Homes an extension of time to complete the construction and convey to the City, the CD Building Project located at 1525 Northwest 60th Street, Miami, Florida, legally described in Exhibit "A", attached and incorporated, from June 30, Citi, ofMiand Page 2 of 3 File Id: 10-00761 (Version: 1) Printed On: 1-121/2010 File Number 10-00761 Enactment Number: R-10-0287 2010 to December 30, 2010. Section 3. It is in the intention of the City Commission that title to the parcel described in Exhibit "A", attached and incorporated, shall be deemed to have remained in Miami Dream Homes from the date of conveyance, and that the extension of time granted herein shall be deemed to have been made on or before June 30, 2010. Section 4. The City Manager is authorized{1} to execute all necessary documents for said purpose(s). Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{2} 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 (10) 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. Cite ofAlianu Page 3 of 3 File Id: 10-00761 (version: 1) Printed0n; 7121/2010 EXHIBIT "A" 1525 NORTHWEST 6DTH STREET (MULTI FAMILY RENTAL PROJECT: 7 UNITS FOR LOW INCOME PERSON) Lot 15, Block 12, of ORANGE HEIGHTS, according to the Plat thereof, as recorded in Plat Book 14, Page 62, of the Public Records of Dade County, Florida.