HomeMy WebLinkAboutPre-Summary FormAQ ND& VMMARY FORM C AP
A1
FILE, ID: 05 -- 00 3 +
Date: 4/22/2005 Requesting Department: EIl
Commission Meeting Date 111QQ1 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance d Discussion Item
Other _
Subject:
purpose ofitemt
�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 and
Flaglcr First Condominiums, LLC extending until December 23, 2006 the deadline for the reoeipl of
Project certificates of occupancy and the sale of eighty-one (81) of the Project's residential
condominium units.
Back
ound Information:
On December 23, 2002, tho City of Miami and Plaster First Condominiums, LLC entered into an
Agreement relating to the redevelopment an affordable housing projeot known as Flasher First
Condominium. The Project will oonslst 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 apace. Certificates ofoccupaucywere to be received and 81 residential
Project units sold by Juno 23, 2005, The developer has expericnood difficulties beyond its control in
conducting extonalvo structural testing, including complete asbestos abatement, in vaoating tenants to
allow for all testing procedures, and in bringing the building's structure to current hurricane/wind load
and fire requirementa, 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.
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify Rending source below.
general Account No;
Special Revenue Account No;
C!'P Prq/act No;
NO la this item funded by Homeland DefensWNeighborhood Improvement Bonds?
Start Up Capital Coat:
Maintenance Cost:
Total Fiscal Impact:
yjapi Am:royall
MON Ayan► tl
CIP N/A Budget N/A
Grantis`ffrao�vinRwa t r�ne. Risk Manapemen
Purchasing N/A Dept. Directo
Page 1 of 2
r
.1r.1•■�.■
Chief
' it —City Manager,
Pile 2 of 2
w