HomeMy WebLinkAboutLegislation SUBCity of Miami
Legislation
Resolution
SI. 3-SUBSTITUTE ITEM
MARCH 22, 2007
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-00400 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CONVEYANCE, WITH PARCEL REVERTER PROVISIONS,
OF CERTAIN CITY OF MIAMI ("CITY") OWNED PARCELS OF LAND, TRACTS A
AND C AS LEGALLY DESCRIBED IN EXHIBIT "A," ATTACHED AND
INCORPORATED, TO MADISON HOUSING II, LTD., FOR THE DEVELOPMENT
OF AFFORDABLE RENTAL AND/OR HOMEOWNERSHIP UNITS ("PROJECT");
REQUIRING SAID DEVELOPER'S ASSUMPTION OF $412,625, 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 A and C as legally described
on Exhibit "A," be conveyed to Madison Housing II, Ltd., and a portion of the Property, Tracts B and D
as legally described on Exhibit "B," be conveyed to the Madison Housing, Ltd., both being
partnerships including affiliates of Gatehouse Group, Inc. and Mt. Zion Developments, Inc.; and
WHEREAS, Resolution No. 06-0423 has been rescinded; and
WHEREAS, Madison Housing II, Ltd. will have twelve (12) months from the date of conveyance of
Tracts A and C to start, and thirty (30) months to complete, construction of the Project having at least
40 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,
FLORIDA:
Section 1. The recitals and findings continued in the Preamble to this Resolution are adopted by
reference and incorporated as if fully sets forth in this Section.
Section 2. The conveyance to Madison Housing II, Ltd., with parcel reverter provisions, of certain
City owned parcels of land, Tracts A and C as legally described in Exhibit "A," attached and
incorp- ',!._ ! ., ... F ,.. rized
THIS DOCUMENT IS A SUE�UTLON TO
City of ive R I G I R 'A ; c ? W 'ti' A L C A Nreg5
SEEN AT END OF THIS DOCUMENT
1/2007
File Number: 07-00400
Section 3. The conveyance shall be subject to the condition that Madison Housing II, 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 4. The assumption by Madison Housing II, Ltd. of $412,625 of the City's investment in the
Project and the Property, is required.
Section 5. The City Manager is authorized {1} to execute a purchase and sale agreement, in
substantially the attached form, and all other all necessary documents for said purpose.
Section 6. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor {2}.
APPROVED AS TO FORM AND CORRECTNESS:
JOG j RNANDEZ
CITY ORNEY
Footnotes:
{1} The herein authorization is further subject to compliance with all requirements that may be imposed
by the City Attorney, including but not limited to those prescribed by applicable City Charter and Code
provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar
days from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City Commission.
THIS -DOCUMENT IS A SU STITUTION TO$
ORIGINAL BACKUP. ORK3 NAL CAN BE
SEEN AT END OF THIS DOCUMENT
City of Miami
Page 2 of 2
Printed On: 3/21/2007
Ilf-
04
File Number: 07-r'400
A RESOLUTI
AUTHORIZING
AUTHORIZING
CERTAIN CITY 0
"A", TO MADISON
AFFORDABLE REN
AUTHORIZING THE
DOCUMENTS FOR SA
City of Miami
Legislation,
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:
OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS,
ESCINDING RESOLUTION NUMBER 06-0423; FURTHER
E CONVEYANCE, WITH PARCEL REVERTER PROVISIONS, '
NED PARCELS OF LAND, LEGALLY DESCRIBED IN EXHIBIT
OUSING Il, LTD. FOR THE DEVELOPMENT OF
L AND/OR HOMEOWNERSHIP UNITS ("PROJECT");
TY MANAGER TO EXECUTE ALL NECESSARY
PURPOSE.
WHEREAS, pursuant to Resolut n 06-0423, adopted July 13, 2006, the City Commission
approved the conveyance of certain cof Miami owned parcels to Madison Housing, Ltd for the
development of affordable rental and/o homeownership units; and
WHEREAS, the Developer will have t lye (12) months from the date of conveyance the Property
to start and thirty (30) months to complete ,•nstruction of a first phase of at least 40 units;
NOW, THEREFORE, BE IT RESOLVED BY , E COMMISION OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings continued in e Preamble to this Resolution are adopted by
reference and incorporated as if fully sets forth in is Section.
Section 2,Rescinding Resolution Number 06-0423, i' approved.
Section 3. The City Manager is authorized (1} to cony = , with parcel reverter conditions, certain City of
Miami owned parcels of land, legally described in Exhibi "A", attached and incorporated, to Madison
Housing II, Ltd. for the development of affordable rental a d/or homeownership units.
Section 4. The City Manager is authorized to execute all nessary documents for said purpose.
Footnotes:
{1} The herein authorization is further subject to compliance with a ,requirements that may be imposed
by the City Attorney, including but not limited to those prescribed by pplicable City Charter and Code
provisions.
{2} If the Mayor does not sign this Resolution, it shall become effective
days from the date it was passed and adopted. If the Mayor vetoes this
effective immediately upon override of the veto by the City Commission.
C11y of Miami
SU
•
the end of ten (10) calendar
solution, it shall become
Page 1 of 1 Printed On: 3/15/2007