HomeMy WebLinkAboutLetter 2Wagner Square, La'
1175 N.E. 125rh Street, Suite 103
North Nicani, Panda 33161
VIA e-mail hugh allena..hud.goy & US Mail
December 8, 2006
Mr. Hugh Allen, Deputy, Assistant Secretary
U.S. Department of Housing and Urban Development
Washington, DC 20410-7000
RE: City of Miami
Wagner Square Project
HUD Tracking #B-02-MC-12-0013
Dear Mr. Allen:
We want to thank you for taking the time to speak with myself, Robin Jackson, Esq. and
Pedro Mirones both of the City of Miami the other day regarding the above captioned
project.
The City is the Borrower and Wagner Square, LLC is the Obligor for the HUD 108 loan
and the City received the BEDI funds and provided the funds to Wagner Square LLC for
performing the environmental remediation of the site. The National Objectives for
compliance are the creation of 194 jobs for the HUD 108 loan and removal of slum and
blight on a spotted basis for the BEDI funds.
The project consists of various phases: the environmental phase, two 99 unit residential
phases of which 52 units in each phase would be reserved for affordable and workforce
buyers, and the commercial phase consisting of 108,000 square feet.
We are pleased that the site has been cleaned and that a No Further Action letter has been
obtained from the governmental authorities thereby meeting the BEDI environmental
phase National Objective required.
The City and Wagner have entered into a Declaration of Restrictions and Declaration of
Restrictions and Reverter relating to the development of the property.
Wagner Square, LLC has requested that the City approve a request to modify the number
of units in each residential component of the project. More specifically, the modification
that Wagner Square LLC is requesting is to reduce the market rate units associated with
the two residential towers while keeping the same 52 units that are designated as
1
fj1, j� f/, i
Debra Si a Kolsky, Manager
of KMT Enterprises, LLC managing member
Mr, Hugh Allen, Deputy, Assistant Secretary
December 8, 2006, Page 2
affordable and workforce units for people making. 60%-170% of the Miami -Dade County
median income. The planned commercial phase is not being modified.
We are requesting written confirmation from HUD that no approvals for the modification
of the residential components are required under the existing HUD Section 108 loan and
BED1 grant agreements and related Section 108 note. Upon receipt from HUD of this
written confirmation, the City will be able to process for consideration by the City
Commission our request to modify the Declaration of Restrictions and Declaration of
Restriction and Reverter agreements reducing the number of market rate units required in
the project.
Sincerely,
Wagner Square, LLC
DSK:jh
Cc: Robin J. Jackson, Esq., City of Miami via e-mail rjones-jackson@miatnigov.com
Olga Ramirez-Seijas, Esq., City of Miami via e-mail ORSeijas@ci,miami,fl.us
Pedro Mirones, City of Miami via e-mail PMirones@ci.miami.fl.us
2