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HomeMy WebLinkAboutR-08-0310City of Miami Legislation Resolution: R-08-0310 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 08-00630 Final Action Date: 6/5/2008 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AT THE REQUEST OF WAGNER SQUARE LLC, AUTHORIZING THE EXTENSION OF THE CURRENT COMMENCEMENT OF CONSTRUCTION DATE OF JUNE 10, 2008 BY NINETY DAYS TO SEPTEMBER 8, 2008; AUTHORIZING THE CITY MANAGER TO EXECUTE THE THIRD AMENDED DECLARATION OF RESTRICTIONS AND REVERTER, IN SUBSTANTIALLY THE ATTACHED FORM, TO EVIDENCE THE FOREGOING AUTHORIZATION AND TO EXECUTE SUCH OTHER DOCUMENTS AS MAY BE REQUIRED FOR IMPLEMENTATION OF THIS RESOLUTION. WHEREAS, on March 10, 2005, the City of Miami ("City") conveyed to Wagner Square, LLC ("Wagner"), the property known as the Civic Center Site, located at 1700 Northwest 14th Avenue, Miami, Florida ("Property"), pursuant to a Purchase and Sale Agreement dated May 30, 2003, as amended ("Agreement"); and WHEREAS, a specific part of the consideration for the City's entering into the Agreement, was Wagner's representation that it would build two (2) residential towers on the Property, with each tower to contain 99 units, and at least 74 of which would be sold predominantly as affordable housing units; and WHEREAS, as required in the Agreement, simultaneously with the conveyance of the Property to Wagner, Wagner executed a Declaration of Restrictions, recorded March 22, 2005, in Official Records Book 23191, Pages 1541-1546 of the Public Records of Miami -Dade County, Florida, to assure, among other things, that at least 74 of the 99 units in each residential tower shall be sold predominantly as affordable housing units; and WHEREAS, in 2005, due to significant increases in construction costs since May 30, 2003, Wagner requested the City's permission to reduce the number of affordable housing units from 74 to 52, that included 24 units as workforce housing and 28 units as affordable housing; and WHEREAS, pursuant to Resolution No. 05-0736, adopted December 15, 2005, the City authorized Wagner's request and consented to the execution of an Amended Declaration of Restrictions to evidence the reduction in the number of required affordable housing units; and WHEREAS, in 2007, due to market conditions, Wagner requested to eliminate the 47 market rate housing units, but maintain the required 24 workforce housing units and 28 affordable housing units in each residential tower; and WHEREAS, the United States Department of Housing and Urban Development ("HUD") confirmed through correspondence that it had no objection to the modifications; and WHEREAS, Wagner requested for HUD's consideration and for the City's consent to establish the date of commencement of construction of the first residential tower as June 10, 2008, and to allow City of Miami Page 1 of 3 File Id: 08-00630 (Version: 11 Printed On: 5/4/2017 File Number: 08-00630 Enactment Number: R-08-0310 the Commercial Component to consist of a minimum of, rather than "approximately," 108,000 square feet of commercial space, thereby requiring an amendment to the Declaration of Restrictions and Reverter dated Match 10, 2005, recorded March 22, 2005 in Official Records Book 23191, Page 1536 of the Public Records of Miami -Dade County, Florida; and WHEREAS, pursuant to Resolution No. 07-0147, adopted March 8, 2007, the City granted Wagner's request and authorized an amendment to the Amended Declaration of Restrictions to evidence the elimination of market rate units and to establish June 10, 2008, as the date of commencement of construction; and WHEREAS, pursuant to Resolution No. 07-0588, adopted October 11, 2007, the City authorized Wagner's request to reallocate the total residential units to be built by Wagner in each residential tower, with the first residential Phase having at least 56 units consisting of at least 28 workforce and 28 affordable housing units and the second residential Phase having at least 48 units consisting of at least 28 affordable units and 20 workforce housing units, however maintaining the total required 48 workforce housing units and 56 affordable housing units in both Phases; WHEREAS, Wagner has requested that the date to commence construction be extended for ninety days from June 10, 2008 to September 8, 2008 in order to meet all the requirements outlined in the Second Amended Declaration of Restrictions and Reverter; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble of this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. Wagner's request for a ninety day extension to commence construction from June 10, 2008 to September 8, 2008, in order to meet all the requirements outlined in the Second Amended Declaration of Restrictions and Reverter, is hereby granted. Section 3. The City Manager is authorized{1} to execute the Third Amended Declaration of Restrictions and Reverter, in substantially the attached form, to extend the commencement date of construction to September 8, 2008, and to execute such other documents as may be required for implementation of this Resolution. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{2} Footnotes: City of Miami Page 2 of 3 File Id: 08-00630 (Version: 11 Printed On: 5/4/2017 File Number: 08-00630 Enactment Number: R-08-0310 {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. City of Miami Page 3 of 3 File Id: 08-00630 (Version: 11 Printed On: 5/4/2017