HomeMy WebLinkAboutSummary FormDate: 8/15/2005
AGENDA ITEM, SUMMARY FORM
FILE ID: d 5-' 04
Requesting Department: Community Development
Commission Meeting Date: 9/8/2005 District Impacted:
Type: ® Resolution ❑ Ordinance D Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Convey parcels of land to Rafael Hernandez Housing & Economic Development Corp.
Purpose of Item:
AUTHORIZING THE CITY MANAGER TO CONVEY, WITH PARCEL REVERTER
PROVISIONS, THREE (3) CITY OF MIAMI-OWNED PARCELS OF LAND, DESCRIBED IN
"EXHIBIT A," ATTACHED AND INCORPORATED, TO RAFAEL HERNANDEZ HOUSING &
ECONOMIC DEVELOPMENT CORP. (RHHED), FOR THE DEVELOPMENT OF
AFFORDABLE HOUSING FOR ELIGIBLE LOW AND MODERATE INCOME PERSONS;
FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY
DOCUMENTS, FOR SAID PURPOSE.
Background Information:
• There is a pressing need for decent, affordable housing in the City of Miami ("City");
• The City recognizes the need to develop affordable housing for low and moderate income families
and individuals;
• Rafael Hernandez Housing & Economic Development Corp. has a proven track record working
with the City;
• RHHED has obtained funding from the Empowerment Zone to complete the construction of three
single family homes;
• The City of Miami will not allocate any funds for the construction of these homes;
• Said agency will have eighteen (18) months from date of land conveyance to complete the
construction of the three single homes which must be sold to eligible low to moderate income buyers.
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Dept. Di ect
Chi
Final Approvals
(SIGN AND DATE).
City Manager
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