HomeMy WebLinkAboutR-08-0337City of Miami
Legislation
Resolution: R-08-0337
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00606 Final Action Date: 6/12/2008
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO CONVEY, WITH PARCEL REVERTER
PROVISIONS, CERTAIN CITY OF MIAMI OWNED PARCELS OF LAND, LOCATED
AT 1544 NORTHWEST 58TH TERRACE, 1590 NORTHWEST 54TH STREET, 5435
NORTHWEST 1ST AVENUE, 5515 NORTHWEST 1ST COURT AND 1230
NORTHWEST 58TH TERRACE, MIAMI, FLORIDA, DIRECTLY TO DEVELOPERS,
AS DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, FOR THE
DEVELOPMENT OF AFFORDABLE HOUSING; FURTHER AUTHORIZING THE
CITY MANAGER TO EXECUTE PURCHASE AND SALE AGREEMENT(S)
SUBSTANTIALLY IN THE ATTACHED FORM FOR SAID PURPOSE.
WHEREAS, on December 19, 2006, the City of Miami ("City") issued an invitation to qualified real
estate developers/contractors for the development of single homeownership units on eighteen (18)
City -owned scattered site lots in the Liberty City area; and
WHEREAS, a total of twenty two (22) responses were received from developers and reviewed by
staff from the Liberty City Trust and Department of Community Development, with respect to the
applicants' financial capacities and the type of use proposed for the sites; and
WHEREAS, the Administration is recommending the conveyance, with parcel reverter provisions,
of the City owned parcels of land, located at 1544 Northwest 58th Terrace, 1590 Northwest 54th
Street, 5435 Northwest 1st Avenue, 5515 Northwest 1st Court and 1230 Northwest 58th Terrace,
Miami, Florida ("Properties"), to the Developers, as described in Exhibit "A", attached and
incorporated; and
WHEREAS, the Administration recommends that the conveyance of the Properties be subject to
the following restrictions: (i) the Developers provide to the City (a) all necessary permits needed to
construct the unit(s), and (b) evidence that firm financial commitments for full project financing from
the project lender(s), (ii) the conveyance of the Properties occur simultaneously with the closing of the
construction financing by the lenders, if any, (iii) any mortgages on the Properties obtained by the
Developers be subject to the approval of the City of Miami Department of Community Development,
(iv) all the unit(s) be sold to households with incomes not to exceed 120% of the median household
income for Miami - Dade County, as published annually by Florida Housing Finance Corporation, and
(v) the Properties remain affordable for a minimum of 20 years; and
WHEREAS, the Administration also recommends that the Developers be given six (6) months
from the date of conveyance of the Properties to begin construction, and eighteen (18) months from
the date of conveyance to complete construction;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
City of Miami
Page 1 of 2 File Id: 08-00606 (Version: 11 Printed On: 5/5/2017
File Number: 08-00606 Enactment Number: R-08-0337
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated as if fully set forth in this Section.
Section 2. The City Manager is authorized {1 } to convey, with parcel reverter provisions,
certain City -owned parcels of land, located at 1544 Northwest 58th Terrace, 1590 Northwest 54th
Street, 5435 Northwest 1st Avenue, 5515 Northwest 1st Court, 1230 Northwest 58th Terrace, Miami,
Florida, to the Developers, as described in Exhibit "A," attached and incorporated for the development
of affordable housing.
Section 3. The conveyance of the Properties shall be subject to the following restrictions: (i)
the Developers provide to the City (a) all necessary permits needed to construct the unit(s), and (b)
evidence that firm financial commitments for full project financing from the project lender(s), (ii) the
conveyance of the Properties occur simultaneously with the closing of the construction financing by
the lenders, if any, (iii) any mortgages on the Properties obtained by the Developers be subject to the
approval of the City of Miami Department of Community Development, (iv) all the unit(s) be sold to
households with incomes not to exceed 120% of the median household income for Miami - Dade
County, as published annually by Florida Housing Finance Corporation, (v) the Properties remain
affordable for a minimum of 20 years, and (vi) the Developers be given six (6) months from the date
of conveyance of the Properties to begin construction, and eighteen (18) months from the date of
conveyance to complete construction.
Section 4. The City Manager is authorized {1} to execute purchase and sale agreements in
substantially the attached form and all other necessary document(s) for said purpose.
Section 5. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor. {2}
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.
City of Miami Page 2 of 2 File Id: 08-00606 (Version: 11 Printed On: 5/5/2017