HomeMy WebLinkAboutLegislation SUBCity of Miami
Legislation
Resolution
SI. 2-SUBSTITUTE ITEM
MARCH 22, 2007
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00399
Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE RESCISSION OF RESOLUTION NO. 06-0423, ADOPTED
JULY 13, 2006, AND THE TERMINATION OF THE PURCHASE AND SALE
AGREEMENT BETWEEN THE CITY OF MIAMI ("CITY") AND MADISON
HOUSING, LTD., DATED AUGUST 1, 2006; FURTHER AUTHORIZING THE
CONVEYANCE, WITH PARCEL REVERTER PROVISIONS, OF CERTAIN CITY
OWNED PARCELS OF LAND, TRACTS B AND D AS LEGALLY DESCRIBED IN
EXHIBIT "A," ATTACHED AND INCORPORATED, TO MADISON HOUSING, LTD.,
FOR THE DEVELOPMENT OF AFFORDABLE RENTAL AND/OR
HOMEOWNERSHIP UNITS ("PROJECT"); REQUIRING SAID DEVELOPER'S
ASSUMPTION OF $1,237,875, OF THE CITY'S INVESTMENT IN THE PROJECT
AND THE PROPERTY; AUTHORIZING THE CITY MANAGER TO EXECUTE A
PURCHASE AND SALE AGREEMENT, IN SUBSTANTIALLY THE ATTACHED
FORM, AND ALL OTHER NECESSARY DOCUMENTS FOR SAID PURPOSE.
WHEREAS, pursuant to Resolution No. 06-0423, adopted July 13, 2006, the City Commission
approved the conveyance of certain City of Miami owned parcels (the "Property") to Madison Housing,
Ltd., for the development of affordable rental and/or homeownership units; and
WHEREAS, Madison Housing, Ltd. has requested that to assist with its application for Florida
Housing Finance Corporation tax credits, a portion of the Property, Tracts B and D as legally described
on Exhibit "A," be conveyed to Madison Housing, Ltd., and a portion of the Property, Tracts A and C as
legally described on Exhibit "B," be conveyed to the Madison Housing II, Ltd., both being partnerships
including affiliates of Gatehouse Group, Inc. and Mt. Zion Developments, Inc.; and
WHEREAS, Madison Housing, Ltd. will have twelve (12) months from the date of conveyance of
Tracts B and D to start, and thirty (30) months to complete, construction of at least 75 units (the
"Project"); and
WHEREAS, in the event that the construction of the Project is allocated funding by the City of
Miami ("City") Housing and Commercial Loan Committee, the time frames for commencement and
completion of construction shall be subject to the standard time frames adopted by the Housing and
Commercial Loan Committee;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORI DA:
Section 1. The recitals and findings continued in the Pry
reference and ' .rru WI --AY deoo
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City of Miami
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3 0 C V MF .. _.. a On: 3/21/2007
File Number: 07-00399
Section 2. The rescission of Resolution No. 06-0423, adopted July 13, 2006 and the termination of
the Purchase and Sale Agreement between the City of Miami and Madison Housing, Ltd., dated
August 1, 2006, are approved.
Section 3. The conveyance to Madison Housing, Ltd., with parcel reverter provisions, of certain
City owned parcels of land, Tracts B and D as legally described in Exhibit "A," attached and
incorporated, for the Project having at least 75 units, is authorized.
Section 4. The conveyance shall be subject to the condition that Madison Housing, Ltd. shall have
twelve (12) months from the date of conveyance of the property to start, and thirty (30) months to
complete, construction. In the event that the construction of the Project is allocated funding by the City
Housing and Commercial Loan Committee, the time frames for commencement and completion of
construction shall be the standard time frames adopted by the Housing and Commercial Loan
Committee.
Section 5. The assumption by Madison Housing, Ltd. of $1,237,875, of the City's investment in the
Project and the Property, is required.
Section 6. The City Manager is authorized {1} to execute a purchase and sale agreement, in
substantially the attached form, and all other all necessary documents for said purpose.
Section 7. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor {2}.
APPROVED AS TO FORM AND CORRECTNESS:
ORGE F RNANDEZ
CITY AT O' NEY
Footnotes:
{1} The herein authorization is further subject 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.
THIS D C.J\
ORIGIN L ....
SEEN AT END Or:
ITUTIOI TO
:AL. Li -AN BE
DOCUMENT
City of Miami
Page2of2
Printed On: 3/21/2007
City of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.mlamlgov.com
FUe Na • err 07-00399 Final Action Dater
A RES • UTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS,
AUTHOING RESCINDING RESOLUTION NUMBER 06.0423; FURTHER
AUTHOR! G THE CONVEYANCE, WITH PARCEL REVERTER PROVISIONS,
CERTAIN CI OWNED PARCELS OF LAND, LEGALLY DESCRIBED IN EXHIBIT
"A", TO MADISHOUSING LTD FOR THE DEVELOPMENT OF AFFORDABLE
RENTAL AND/0- OMEOWNERSHIP UNITS ("PROJECT"); REQUIRING SAID
DEVELOPER'S AS MPTION OF THE CITY'S TOTAL INVESTMENT IN THE
PROJECT AND THE ' ' OPERTY; AUTHORIZING THE CITY MANAGER TO
EXECUTE ALL NECE RY DOCUMENTS FOR SAID PURPOSE.
WHEREAS, pursuant to Resolution •8-0423, adopted July 13, 2008, the City Commission
approved the conveyance of certain city • Miami owned parcels to Madison Housing, Ltd for the
development of affordable rental and/or ho eownerehip units; and
WHEREAS, the City's total investment In th Protect and the Property Is In the amount of
$1,650,506.80; and
WHEREAS, the Developer will have twelve (12) •nths from the date of conveyance the Property
to start and thirty (30) months to complete construction a first phase of at least 75 units; and
NOW, THEREFORE, BE IT RESOLVED BY THE COMMIS 'N OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings continued In the Preamble t thls Resolution are adopted by
reference and Incorporated as if fully sets forth in this Section,
Section 2.Reecinding Resolution Number 06.0423, is approved.
Section 3, The City Manager is authorized {1) to convey, with parcel reve er conditions, certain City of
Miami owned parcels of land, legally described in Exhibit "A", attached and corporated, TO Madison
Housing, Ltd. for the development of affordable rental and/or homeownership nits.
Section 4. The Developer's assumption of the City's total Investment Is the projec : nd the property, Is
approved.
Section 5, The City Manager Is authorized to execute all necessary documents for said rpose.
Footnotes;
S
City of Wand
Pagel of3
Printed On, 3/15/2007
FI - umber. 07-00399
(1) T ` - herein authorization is further subject to compliance with ell requirements that may be Imposed
by the . Attorney, Including but not limited to those prescribed by applicable City Charter and Code
provision
(2) If the Maydoes not sign this Resolution, It shall become effective at the end of ten (10) calendar
days from the d = - It was passed and adopted. If the Mayor vetoes this Resolution, It shall become
effective Immedia upon override of the veto by the City Commission,
City ofMlanil
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Printed Om 3/15J2007