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Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 06-02162 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE TRANSFER OF FUNDS, IN THE AMOUNT OF $325,000,
FROM THE CITY OF MIAMI DEPAR TMEN r OF COMMUNITY DEVELOPMENT
AFFORDABLE HOUSING TRUST FUND; ALLOCATING SAID FUNDS, IN THE
FORM OF A BRIDGE LOAN, TO ALLAPATTAH COMMUNITY ACTION, INC., TO
COVER PRE -DEVELOPMENT COSTS FOR THE ALLAPATTAH COMMUNITY
HOUSING PHASE II PROJECT, WHiCII WILL PROVIDE SEVENTY-NINE
HOUSING UNITS FOR THE ELDERLY IN THE ALLAPATTAH AREA;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY LOAN
DOCUMENTS WITH ALLAPATTAH COMMUNITY ACTION, INC., FOR SAID
PURPOSE.
WHEREAS, Allapattah Community Action, Inc., was approved by the United States Department of
Housing and Urban Development ("U.S. HUD") to construct 79 units of housing for the elderly and one
unit for the resident manager under Section 202 Supportive Housing Program for the Elderly; and
WHEREAS, pursuant to the City Commission meeting held on October 12, 2006, the City
Commission directed the City Manager to draft Legislation funding said agency, in the form of a bridge
loan, to prepare the necessary paperwork to close on a Section 202 grant from the U.S HUD; and
WHEREAS, in order to close on the Allapattah Community Housing Phase II Project ("Project"),
said agency has requested the amount of $325,000; and
WHEREAS, the Project will include one and two bedroom units, in a four story apartment building
with site parking; and
WHEREAS, the Administration is recommending the transfer of funds, in the amount of $325,000,
from the City of Miami Department of Community Development Affordable Housing Trust fund to
Allapattah Community Action, Inc., to cover pre -development costs for the Project; and
WHEREAS, the terms of the loan will be 0% interest with a balloon payment by August 1, 2007;
and
WHEREAS, payments will be made directly to the vendor;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by
reference and incorporated as if fully set forth in this Section.
Section 2. The transfer of funds, in the. amount of $325,000, from the City of Miami Department of
City of
Page 1 ( 2
Printed On: 11 /29/2006
File Number: 06-02162
Community Development Affordable Housing Trust fund and the allocation of said funds to Allapattah
Community Action, Inc., to cover pre -development costs for the Project, is authorized.
Section 3. The City Manager is authorized {1 } to execute the necessary loan documents with
Allapattah Community Action, Inc., for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {2)
APPROVED AS TO FORM AND CORRECTNESS:
JO'G; FERNANDEZ jobµ
CITY'�I�RNEY
Footrio.,:es :
{1} The herein authorization is further sub{ec", 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 Pn;!e 2 of 2 Printed On: 11/29/2006