HomeMy WebLinkAboutR-07-0052City of Miami
Legislation
Resolution: R-07-0052
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00089 Final Action Date: 1/25/2007
A RESOLUTION OF THE MIAMI CITY COMMISSION RESERVING FUNDS, IN THE
AMOUNT OF $1 MILLION, FROM THE CITY OF MIAMI'S ("CITY'S") AFFORDABLE
HOUSING TRUST FUND, FOR USE ON THE MIXED -USE, MIXED -INCOME
BUILDING TO BE DEVELOPED ON THE VACANT CITY PROPERTY LOCATED AT
400-430 SOUTHWEST 8TH AVENUE, MIAMI, FLORIDA.
WHEREAS, the Little Havana Homeownership Advisory Board has been charged with creating
homeownership within specific boundaries of East Little Havana; and
WHEREAS, the Little Havana Homeownership Advisory Board has had difficulty creating a
signature multi -family homeownership development, solely with restrictive Housing and Urban
Development ("HUD") Home Investment Partnerships Program funds ("HOME"); and
WHEREAS, the Little Havana Homeownership Advisory Board has passed a unanimous
resolution directing the District 3 Commissioner to seek "a minimum of $1 million in Affordable
Housing Trust Fund dollars," for a project within its boundaries; and
WHEREAS, it has been a priority of the City of Miami ("City") to dispose itself of the vacant land
located at 400-430 Southwest 8th Avenue, Miami, Florida ("Property"), and improving it with
affordable housing; and
WHEREAS, that Property is within the Little Havana Homeownership Advisory Board boundaries;
and
WHEREAS, a previous Request for Proposals issued for the Property failed to produce a
development agreement; and
WHEREAS, the cost of construction makes it very difficult for developers of affordable housing to
work solely with restrictive HOME fund dollars; and
WHEREAS, it is in the best interest of the City and the neighborhood surrounding the Property to
create a building with a blend of affordable and workforce housing; and
WHEREAS, the City's Public Facilities Department will soon be issuing a Request for Letters of
Interest for the Property to create a development with 97 maximum residential units, ground floor
retail and parking; and
WHEREAS, the layering of HUD HOME and City Affordable Housing Trust Fund dollars will create
the atmosphere for a successful development in an area key to Little Havana's continued
revitalization;
NOW, THEREFORE, BE IT RESOLVED, BY THE COMMISSION OF THE CITY OF MIAMI,
City of Miami
Page 1 of 2 File Id: 07-00089 (Version: 1) Printed On: 3/13/2017
File Number: 07-00089 Enactment Number: R-07-0052
FLORIDA:
Section 1. The recitals contained in the Preamble to this Resolution are adopted by reference and
incorporated as if fully set forth in this Section.
Section 2. The Miami City Commission reserves funds, in the amount of $1 million, from the City's
Affordable Housing Trust Fund, for use on the mixed -use, mixed -income building to be developed on
the vacant City Property.
Section 3. 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 (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: 07-00089 (Version: 1) Printed On: 3/13/2017