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Text File Report
coy Hr,IE
3500 Pan Arneric.an Dove
NSiannl. FI. 2312
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File ID: 07-001 16
Type: Resolution Status: Mayor's Office for
Signature
Enactment #: R-07-0053 Enactment Date: I/25107
Version: 2
introduced: 1i 1 6/07 Controlling Body: Office of the. City
Clerk
A :RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING
THE CITY MANAGER TO: (A) CONVEY, WITH PARCEL REVERTER PROVISIONS, EIGHT (8)
CITY OF MIAMI OWNED PARCELS OF LAND DIRECTLY TO THE DEVELOPERS, AS
DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, FOR THE CONSTRUCTION
OF AFFORDABLE HOUSING FOR ELIGIBLE LOW AND MODERATE INCOME PERSONS, AND
(B) AUTHORIZE THE TRANSFER OF FUNDS, IN TI-IE AMOUNT OF $150,000, FROM THE
AFFORDABLE HOUSING TRUST FUND; ALLOCATINCi SAID FUNDS, 1N THE FORM OF A
TWENTY (20) YEAR FORGIVABLE LOAN, TO BETTER WAY OF MIAMI, INC., FOR THE
DEVELOPMENT OF AFFORDABLE HOUSING, FURTHER AUTHORIZING THE CITY MANAGER
TO EXECUTE THE NECESSARY DOCUMENTS, FOR SAID PURPOSE.
WHEREAS, the Administration is recommending the conveyance, with parcel reverter provisions, of eight City owned
parcels of land to the developers, as described in Exhibit "A," attached and incorporated; and
WHEREAS, developers will have twelve (12) months from the date of land conveyarce to begin construction and will
have an additional 12 months to complete construction; and
WHEREAS, Habitat for humanity of Greater Miami; Inc. and Better Way of Miami, loc. will develop rental housing units
with a twenty year affordability period; and
WHEREAS, Palmetto Homes of Florida, Inc. and Foster Construction of South Florida, Inc. will develop homeownership
housing units where buyers for these units must be approved by the City of Miami; and
WHEREAS, the Administration is also recommending the transfer of funds, in the amount of $150,000, from the
Affordable Housing Trust fund; allocating said funds, in the form of a twenty (20) year forgivable loan, to Better Way of
Miami, Inc. for the development of affordable housing units; and
WHEREAS, the loan will be forgivable after the twenty (20) year affordability period has expired; and
WHEREAS, the City will be meeting and working with Habitat for Humanity of Greater Miami, Inc., Palmetto Homes of
Florida, Inc. and Foster Construction of South Florida, Inc. in an effort to -address funding related issues; and
WHEREAS; any funding recommendations for the aforementioned developer must be approved by the Housing and
Commercial Loan Conunittee;
City of Miami
Page 1 Printed on 2123 2007
Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor. ;2
City of Miami
Page 2 Printed on 2/23/2007