HomeMy WebLinkAboutR-05-0736City of Miami
Legislation
Resolution: R-05-0736
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 05-01429 Final Action Date: 12/15/2005
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
REDUCING THE NUMBER OF AFFORDABLE HOUSING UNITS REQUIRED TO BE
BUILT BY WAGNER SQUARE, LLC., THE CURRENT OWNER OF THE PROPERTY
FORMERLY OWNED BY THE CITY OF MIAMI AND KNOWN AS THE CIVIC
CENTER SITE, LOCATED AT 1700 NORTHWEST 14TH AVENUE, MIAMI, FLORIDA
( "PROPERTY"), FROM 74 TO 52 AFFORDABLE HOUSING UNITS, WHICH
NUMBER INCLUDES 24 WORKFORCE HOUSING UNITS, TO BE SOLD AS
STATED HEREIN; AUTHORIZING THE CITY MANAGER EXECUTE THE
AMENDED DECLARATION OF RESTRICTIONS, IN SUBSTANTIALLY THE
ATTACHED FORM, AND TO EXECUTE SUCH OTHER DOCUMENTS AS MAY BE
REQUIRED FOR IMPLEMENTATION OF THIS RESOLUTION, ALL IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY.
WHEREAS, on March 10, 2005, the City of Miami ("City") conveyed to Wagner Square, LLC
("Wagner") the property known as the Civic Center Site, located at 1700 Northwest 14th Avenue,
Miami, Florida ("Property"), pursuant to a Purchase and Sale Agreement dated May 30, 2003, as
amended ("Agreement"); and
WHEREAS, a specific part of the consideration for the City's entering into the Agreement, was
Wagner's representation that it would build two (2) residential towers on the Property, with each tower
to contain 99 units, and at least 74 of which would be sold predominantly as affordable housing units;
and
WHEREAS, as required in the Agreement, simultaneously with the conveyance of the Property to
Wagner, Wagner executed a Declaration of Restrictions, recorded March 22, 2005 in Official Records
Book 23191, Pages 1541-1546 of the Public Records of Miami -Dade County, Florida ("Original
Covenant"), to assure, among other things, that at least 74 of the 99 units in each residential tower
shall be sold predominantly as affordable housing units; and
WHEREAS, since the date of the Agreement, in 2003, construction costs have increased
dramatically and it is not feasible to construct 74 out of 99, as affordable housing units; and
WHEREAS, Wagner has requested to reduce the number of affordable housing units to 52, which
includes 24 units as "workforce housing" units, all as more particularly described below, and amend
the Original Covenant accordingly;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble of this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
City of Miami
Page 1 of 2 File Id: 05-01429 (Version: 1) Printed On: 12/14/2016
File Number: 05-01429 Enactment Number: R-05-0736
Section 2. The number of affordable housing units Wagner Square LLC, is required to build in the
firs Residential Tower, is hereby reduced from 74 to 28 affordable housing units and 24 workforce
housing units, to be sold to individual third party purchasers who meet the following income test
criteria:
No. of Units Median Income
4 Up to 50% of median income
18 Up to 80% of median income
6 Up to 120% of median income
10 Up to 150% of median income
14 Up to 170% of median income
Section 3. The City Manager is authorized{1} to execute the Amended Declaration of Restrictions,
in substantially the attached form, and to execute such other documents as may be required for
implementation of this Resolution, all in a form acceptable to the City Attorney.
Section 4. 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.
City of Miami Page 2 of 2 File Id: 05-01429 (Version: 1) Printed On: 12/14/2016