HomeMy WebLinkAboutSummary FormA ENDA ITEM SUMMARY FORM
FILE ID: GI iod0.3 4 q
Date: 3/14/2007 Requesting Department: Community Development
Commission Meeting Date: 03/22/2007 District impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: MAp1SON HQLJSING, : (TRACT B AND DI
Purpose of item:
AUTHORIZING RESCINDING RESOULTION NUMBER 08.0423; FURTHER AUTHORIZING THE
CONVEYANCE, WITH PARCEL REVERTER PROVISIONS, CERTAIN CITY OWNED PARCELS
OF LAND, LEGALLY DESCRIBED IN EXHIBIT "A", TO MADISON HOUSING LTD FOR THE
DEVELOPMENT OF AFFORDABLE RENTAL AND/OR HOMEOWNERSHIP UNITS ("PROJECT"),
REQUIRING SAID DEVELOPER'S ASSUMPTION OF THE CITY'S TOTAL INVESTMENT IN THE
PROJECT AND THE PROPERTY; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL
NECESSARY DOCUMENTS FOR SAID PURPOSE.
Background Information:
Pursuant to Resolution 08-0423, adopled July 13, 2006, the City Commission approved the
conveyance of certain city of Miami owned parcels to Madison Housing, Ltd for the development of
affordable rental and/or homeownership units
The City's total investment In the Project and the Property is In the amount of $1,650,606.60
The Developer will have twelve (12) months from the date of conveyance the Property to start and
thirty (30) months to complete construction of a first phase of at least 75 unite
$udaet rmoeot Aneivsle
Is this Item related to revenue?
Is this Item an expenditure? If so, please Identify funding source below.
General Account No:
Special Revenue Account No:
C1P Protect No:
Is this Item funded by Homeland Defense/Neighborhood Improvement Bonds?
Final Approvals
ISIGN AND DATE]
Budget
Risk Managem
Dept, Direct')
City Manage
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