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FILE ID: D S — 00344.
Date: 4/22/2005 Requesting Department: En
Commission Meeting Date /11, = District Impacted:
Typet ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
[] Other
Subject:
Purpose of Item:
10
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A Resolution of the Miami City Commission, authorizing the City Manager to execute Amendment
Number Ono (1) to the Agreement, in substantially the attached form, between the City of Miami autd
Flagler First Condominiums, LLC extending until December 23, 2006 the deadline for the receipt of
Project certificates of occupancy and the sale of eighty -ono (81) of the Project's residential
condominium units.
Back ound Information:
On December 23, 2002, the City of Miami and Flagler First Condominiums, LLC entered into an
Agreement relating to the redevelopment an affordable housing project known as Flagler First
Condominium. Tho Project will consist of no leas than ninety (90) affordable housing units (forty-five
(45) one bedroom/one bath units and forty-five(45) two bedroom/two bath units) and approximately
7000 square feet of retail space. Certificates of occupancy were to be received and 81 residential
Project units sold by June 23, 2005, The developer has experienced difficulties beyond its control in
conducting extensive structural testing, including complete asbestos abatement, in vacating tenants to
allow for all testing procedures, and in bringing the building's structure to current hurricane/wind load
and fire requirements, all of which has resulted in substantial delays in the progress of the Work Plan
and resulting in the need for an extension to the time required to complete the project,
Buds;et Impact Analva$
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identity funding source below.
General Account No:
Special Revenue Account No;
C.IP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP NIA
True{ R a roGohhInM onp 1 18
Grants N/A
Purchasing N/A
J+igpi pueroyali
tSIGN ANQ,DA]
Budget NIA
Risk Managomen
Dept. Directs
Paget of 2
Chief I ---- City Manager
Paso 2of2