HomeMy WebLinkAboutpre resolution1J-95-284
4/3/95
RESOLUTION NO . 95- 203
A RESOLUTION RELATING TO THE DEVELOPMENT OF
APPROXIMATELY ONE HUNDRED TWO (102) UNITS OF
AFFORDABLE HOUSING IN THE COCONUT GROVE,
LITTLE HAVANA AND OVERTOWN NEIGHBORHOODS BY
THE COCONUT GROVE LOCAL DEVELOPMENT
CORPORATION, EAST LITTLE HAVANA COMMUNITY
DEVELOPMENT CORPORATION, FLORIDA HOUSING
COOPERATIVE, INC., AND BAME DEVELOPMENT OF
SOUTH FLORIDA, INC. (CHDOs), RESPECTIVELY;
AUTHORIZING THE CITY MANAGER TO ALLOCATE
FUNDING FROM THE CITY'S FY 1994 HOME
INVESTMENT PARTNERSHIP PROGRAM (HOME PROGRAM)
AS STATED IN SECTION 2 OF THIS RESOLUTION,
FOR THE PURPOSE OF PROVIDING PROJECT
PRE -DEVELOPMENT SUPPORT AND CONSTRUCTION
FINANCING TO EACH NEIGHBORHOOD BASED
COMMUNITY HOUSING DEVELOPMENT CORPORATION
(CHDO) IN CONNECTION WITH THE HOUSING UNITS
BEING PROPOSED; FURTHER AUTHORIZING THE CITY
MANAGER TO ENTER INTO INDIVIDUAL CONTRACTUAL
AGREEMENTS, IN A FORM ACCEPTABLE TO THE CITY
ATTORNEY, WITH THE AFOREMENTIONED CHDO's FOR
THIS PURPOSE.
WHEREAS, there exists in the City of Miami a severe shortage
of affordable housing for families and individuals of very low,
low and moderate income; and
WHEREAS, the City Commission recognizes that participation
of both the public and private sector is necessary to foster the
development of housing affordable to very low, low and moderate
income families and individuals in the City; and
WHEREAS, in April, 1994, the City of Miami was awarded a
Home Investment Partnership Program (HOME Program) grant in the
amount of $3,757,000 from the U.S. Department of Housing and
Urban Development for implementation of the HOME
Program; and
CITY COMMISSION
MEETING OF
MAY " 1 1995
Resolution No.
95.- 303
4
WHEREAS, pursuant to Resolution No. 94-404, the City
Commission authorized the implementation of the City's HOME
Assisted Community Housing Development Organization ("CHDO")
Program and allocated $2,181,300 in 1994 HOME Program funds for
the production of homeownership housing units in the City by not -
for -profit corporation; and
•
WHEREAS, approximately one hundred two (102) new
homeownership housing units are currently being planned for
development by East Little Havana Community Development
Corporation, Florida Housing Cooperative, Inc., Coconut Grove
Local Development Corporation and BAME Development Corporation of
South Florida, Inc.; and
WHEREAS, the funds allocated under the HOME assisted CHDO
Program are designed to provide financial assistance to assist,
in part, in the development of
new housing and/or
acquisition/rehabilitation of the City's existing
to be sponsored or owned by CHDO's; and
WHEREAS, the Department of Development
Conservation recommends approval of East Little
Florida Housing Cooperative, Inc., Coconut
Development Corporation and BAME Development Corporation of South
Florida, Inc.'s request for financial assistance under the City's
HOME assisted CHDO Program for the purpose of -financing the
development of one hundred two (102) new homeownership housing
units in the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA;
housing stock
and Housing
Havana CDC,
Grove Local
95- 303
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. Funding from FY' 1994 Home Investment
Partnership Program grant is hereby allocated for the purpose of
providing predevelopment and/or project development related
funding to the following not -for -profit Community Housing
Developing Organizations (CHDOs) listed below:
Community Housing Development Organizations Amour_ P
1)'East Little Havana Community Development $1,200,000
Corporation
2) Coconut Grove Local Development Corporation $ 176,421
3) Florida Housing Cooperative, Inc. $ 90,000
4) BANE Development Corporation of South $ 125,000
Florida, Inc.
Section 3. The City of Miami is hereby authorized' to
execute individual contractual agreements, in a form acceptable
to the City Attorney, with the Community Housing Development
Organizations (CHDOs) listed in Section 2, for the amount
specified for each, for the purpose of providing project
predevelopment and/or development related funding in connection
with the development of one hundred two (102) units of
homeownership housing in the City.
1
The herein authorization is further subject to compliance
with all requirements that unay be imposed by the. City
Attorney including but not limited to those prescribed by
applicable City Charter and Code provisions.
-3--
95- 303
Section 4. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 1st day of^�, 1995.
ATTEST:
/ _
MATTY HIRAI, CITY CLERK
PREPARED AND APPROVED BY:
LINDA KELLY KEARSON
ASSISTANT CITY ATTORNEY
AL(104,<4
STEP EN P. CLERK, MAYOR
APPROVED AS TO FORM AND CORRECTNESS:
95- 303
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