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HomeMy WebLinkAboutR-05-0538City of Miami Legislation Resolution: R-05-0538 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 05-01020 Final Action Date: 9/8/2005 A RESOLUTION OF THE MIAMI CITY COMMISSION: 1) URGING THE PROPERTY APPRAISER OF MIAMI-DADE COUNTY TO BASE VALUATION OF MULTI -FAMILY RENTAL PROPERTY AFFORDABLE TO PERSONS OF LOW OR MODERATE INCOME, PRIMARILY ON THE INCOME FROM SAID PROPERTY AS CONTEMPLATED IN SECTION 193.011 (7) OF THE FLORIDA STATUTES; 2) URGING THE LEGISLATURE OF THE STATE OF FLORIDA TO AMEND SECTION 193.011 TO REQUIRE THAT MULTI -FAMILY RENTAL PROPERTIES AFFORDABLE TO PERSONS OF LOW OR MODERATE INCOME, BE VALUED USING ONLY THE INCOME METHOD; AND 3) REQUESTING THAT THE CITY ATTORNEY DETERMINE THE FEASIBILITY OF INITIATING LEGAL ACTION WITH THE INTENT OF OBTAINING JUDICIAL REDRESS IN ORDER TO PROTECT LESSEES IN THE CITY OF MIAMI FROM INFLATED AND UNFAIR VALUATION OF THEIR LEASEHOLD. WHEREAS, the Property Appraiser in Miami -Dade County is given authority under the provisions of Section 193.011(7) of the Florida Statutes to consider the income derived from the property to value multi -family rental properties that are affordable to individuals and families of low or moderate income; and WHEREAS, lessees of multi -family rental properties that are affordable to individuals and families of low or moderate income in the City of Miami ("City") are being unfairly affected by the Property Appraiser's current valuation method in the assessment of multi -family rental properties which does not give sufficient weight to income as a valuation factor; and WHEREAS, given the additional economic hardships derived from high energy prices, rising interest rates and other potential economic hardships caused by Hurricane Katrina, low or moderate income families leasing multi -family properties in the City should not be unfairly impacted by unreasonable valuation of multi -family rental properties; and WHEREAS, failure to give proper weight to income in the valuation of affordable multi -family rental properties in the City will cause irreparable harm to low or moderate income families; NOW THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings set forth in the Preamble of this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. The City Commission urges the Property Appraiser of Miami -Dade County to value multi -family rental properties that provide housing to person of low or moderate income so as to give greater weight to the income derived from said properties as provided for in Section 193.011 (7) of City of Miami Page 1 of 2 File Id: 05-01020 (Version: 1) Printed On: 3/17/2017 File Number: 05-01020 Enactment Number: R-05-0538 the Florida Statutes. Section 3. The City Commission requests that the Florida Legislature amend Section 193.011 of the Florida Statutes to provide that multi -family rental properties that provide housing to persons of low or moderate income be valued solely pursuant to the income method and remove the discretion of County Property Appraisers in selecting a valuation method as to said rental property. Section 4. The City Attorney is requested to determine the feasibility of commencing legal action to ensure that the lessees of multi -family rental properties of low or moderate income of the City are adequately protected from steep increases in the rent due to unfair valuation of their rental properties. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. {1} Footnotes: {1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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. City of Miami Page 2 of 2 File Id: 05-01020 (Version: 1) Printed On: 3/17/2017