HomeMy WebLinkAboutR-07-0542City of Miami
Legislation
Resolution: R-07-0542
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 07-01189 Final Action Dat
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S
AUTHORIZING THE CONVEYANCE TO PRESTIGE ENTERPRISE GROU IN
WITH PARCEL REVERTER PROVISIONS, OF THE CITY OF MIAMI 0
PARCELS OF LAND LOCATED AT 400-420 SOUTHWEST 8TH AVE
SOUTHWEST 8TH AVENUE, MIAMI, FLORIDA, AS LEGALLY DE
EXHIBIT "A," ATTACHED AND INCORPORATED, COMMONLY K
TEATRO MARTI PROPERTY, FOR THE DEVELOPMENT OF A MIX
MIXED -INCOME AFFORDABLE HOUSING PROJECT ON
THE TERMS INDICATED ON EXHIBIT "B," ATTACHED INC
AUTHORIZING THE CITY MANAGER TO EXERCISE DISCRE
INDICATED ON EXHIBIT "B" WITH REGARD TO THE L NUMBE 1F
PROJECT UNITS; FURTHER AUTHORIZING TH' ITY GER TV XECUTE A
DEED AND ALL NECESSARY DOCUMENTS FO' D P► ' .S
WHEREAS, on May 29, 2007, the City o Mia
qualified real estate developers, for the dev
(the "Project") on the City -owned properties to
Southwest 8th Avenue, Miami, Flori
(the "Property"), and an allocation
WHEREAS, three (3) respon
WHEREAS, due to •ent
August 6, 2007, with •ue date of Au• 007; and
•ally
lion for t
were recei
AND 430
ED
A E
quest for Proposal ("RFP") for
ixed-use mixed -income affordable housing
20 Southwest 8th Avenue, and 430
Exhibit "A," attached and incorporated
oject; and
before the RFP deadline on June 29, 2007; and
WHEREAS two
WHE
Homeo
Develo
develop
o the source of funding, the RFP was re -issued on
e received by the RFP due date; and
, a review c• 4 mi omprised of two members from the Little Havana
ory -nd one staff member from the Department of Community
n September 5, 2007 and recommended Prestige Enterprise Group, Inc. for the
Prop- ; and
REA
affordab
e Enterprise Group, Inc. is a for -profit corporation formed on July 22, 1993 to
ousing; and
HEREA , Prestige Enterprise Group, Inc. has completed one affordable housing
eownership development in the past year with another three at various stages of construction,
currently in good standing with the City; and
WHEREAS, the Administration recommends the conveyance to Prestige Enterprise Group, Inc.,
with parcel reverter provisions, of the City -owned parcels of land located at 400-420 Southwest 8th
Avenue, and 430 Southwest 8th Avenue, Miami, Florida, as legally described on Exhibit "A," attached
City of Miami
Rescinded by R-08-0444
Page 1 of 2 File Id: 07-01189 (Version: 2) Printed On: 4/14/2017
File Number: 07-01189 Enactment Number: R-07-0542
and incorporated, subject to the terms indicated on Exhibit "B," attached and incorporated; and
WHEREAS, the Administration also recommends that the Property not be conveyed to Prestige
Enterprise Group, Inc. until the City receives evidence of firm financing for the entire Project;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIA
FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution a
reference and incorporated as if fully set forth in this Section.
Section 2. The conveyance to Prestige Enterprise Group, Inc., with parc
the City -owned parcels of land located at 400-420 Southwest 8th Avenue,
Avenue, Miami, Florida, as legally described on Exhibit "A," attached and in
development of mixed -use, mixed income affordable housing, is autr - -d
Section 3. The Property shall not be conveyed to Prestige -rprise Gr• Inc. the City
receives evidence of firm financing for the entire Project. The e subject to terms
indicated on Exhibit "B," attached and incorporated.
Section 4. The City Manager is authorized{1} to approve
units indicated on Exhibit "B" not to exceed ten p -nt (10%)
discretion, such decrease is warranted in the be
Section 5. The City Manager is further a
documents for said purpose. _
Section 6. This Resolution shecome effectiv
the Mayor.{2}
Footnotes:
{1} The auth• zati£. " er subject to compliance with all requirements that may be
impos .y the ttorne7icluding but not limited to those prescribed by applicable City Charter
and Co
number of total Project
the Manager's
ect.
execute a deed and all necessary other
ediately upon its adoption and signature of
sign this Resolution, it shall become effective at the end of ten (10) calendar
the d- as passed and adopted. If the Mayor vetoes this Resolution, it shall become
edict- y upon override of the veto by the City Commission.
City of Miami
Rescinded by R-08-0444
Page 2 of 2 File Id: 07-01189 (Version: 2) Printed On: 4/14/2017