HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-08-0499
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-00997
Version: 2
File Type: Resolution
Status: Passed
Reference: Controlling Body:
File Name: ExtendingAgrmt. Wagner Square Introduced:
Requester: Department of Community Cost: Final Action:
Development
Office of the City
Clerk
8/21/2008
9/ 11 /2008
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AT THE
REQUEST OF WAGNER SQUARE LLC, AND SUBJECT TO APPROVAL FROM THE UNITED
STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("HUD"), AUTHORIZING
THE CITY MANAGER TO NEGOTIATE, TO AMEND, AND TO EXECUTE, IN LEGAL FORMS
AND CORRECTNESS ACCEPTABLE TO THE CITY ATTORNEY, THE LOAN AGREEMENT
DATED AS OF MARCH 10, 2005 ("DEVELOPER LOAN AGREEMENT") BETWEEN THE CITY OF
MIAMI ("CITY") AND WAGNER SQUARE LLC (THE "DEVELOPER") THE RELATED
PROMISSORY NOTE FROM THE DEVELOPER TO THE CITY ("DEVELOPER NOTE"), THE
HUD CONTRACT FOR LOAN GUARANTEE ASSISTANCE UNDER SECTION 108 OF THE
HOUSING AND COMMUNITY DEVELOPMENT ACT OF 1974, AS AMENDED, BY AND
BETWEEN HUD AND THE CITY, DATED AS OF JUNE 10, 2005 ("SECTION 108 LOAN
GUARANTEE CONTRACT"), THE HUD SECTION 108 LOAN GUARANTEE PROGRAM
VARIABLE/FIXED RATE NOTE NUMBER B-02-MC-12-0013, IN THE MAXIMUM
COMMITMENT AMOUNT OF FOUR MILLION DOLLARS ($4,000,000) BY THE CITY AS
BORROWER WITH AFTERWATCH & CO. AS HUD'S REGISTERED HOLDER AND NOMINEE
FOR MONEY MARKET OBLIGATIONS TRUST ON BEHALF OF THE GOVERNMENT
OBLIGATIONS FUND, DATED AS OF JUNE 10, 2005 ("SECTION 108 LOAN GUARANTEE
NOTE"), THE RELATED BROWNFIELD ECONOMIC DEVELOPMENT INITIATIVE ("BEDI")
GRANT AGREEMENT FOR ONE MILLION DOLLARS ($1,000,000) BETWEEN HUD AND THE
CITY DATED AS OF JUNE 10, 2005 ("BEDI GRANT"), THE COLLATERAL ASSIGNMENT BY
CITY TO HUD WITH CONSENT AND ACKNOWLEDGEMENT OF THE DEVELOPER DATED AS
OF JUNE 10, 2005 ("HUD COLLATERAL ASSIGNMENT"), THE CUSTODIAL AGREEMENT FOR
SECURITY DOCUMENTS BY AND AMONG THE CITY, THE DEVELOPER AND SUNTRUST
BANK AS CUSTODIAN DATED AS OF JULY 7, 2005 ("HUD CUSTODIAL AGREEMENT") AND
ALL OTHER RELATED DOCUMENTS, INSTRUMENTS, ATTACHMENTS AND EXHIBITS
NECESSARY FOR AMENDING THE SECTION 108 LOAN GUARANTEE CONTRACT, SECTION
108 LOAN GUARANTEE NOTE, BEDI GRANT, DEVELOPER LOAN AGREEMENT,
DEVELOPER NOTE, HUD COLLATERAL ASSIGNMENT, AND HUD CUSTODIAL AGREEMENT
FOR THE COMMERCIAL COMPONENT OF THE WAGNER SQUARE PROJECT TO BE
DEVELOPED ON THE PROPERTY FORMERLY KNOWN AS THE CIVIC CENTER SITE,
LOCATED AT 1700 NORTHWEST 14TH AVENUE, MIAMI, FLORIDA ( "PROPERTY"), AND TO
EXTEND THE CONSTRUCTION COMMENCEMENT DATE OF THE COMMERCIAL
COMPONENT TO COMPLY WITH RELATED HUD, CITY, AND FINANCING REQUIREMENTS;
RATIFYING, APPROVING, AND CONFIRMING, NECESSARY PREVIOUS NOTICES AND
ACTIONS OF THE CITY MANAGER AND OTHER NECESSARY CITY OFFICIALS REGARDING
THE HUD AMENDED COMMITMENT SCHEDULE; AND AUTHORIZING THE CITY MANAGER
AND SUCH OTHER NECESSARY CITY OFFICIALS TO AMEND, TO UNDERTAKE, AND TO
EXECUTE, SUBJECT TO APPROVAL OF LEGAL FORMS AND CORRECTNESS BY THE CITY
ATTORNEY, ANY OTHER NECESSARY FILINGS, NOTICES, INSTRUMENTS, AND
DOCUMENTS AS MAY BE FURTHER REQUIRED BY HUD OR THE CITY FOR
IMPLEMENTATION OF SAID PURPOSES.
City of Miami Page 1 Printed on 5/12/2017
City of Miami
Master Report
Enactment Number: R-08-0499
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Sponsors:
Notes:
Indexes:
Attachments: 08-00997-Legislation-SUB.pdf,08-00997-Amended Commitment Schedule.pdf,08-00997-E-mail-Robin
Jones Jackson.pdf,08-00997 Exhibit.pdf,08-00997 Exhibit 2.pdf,08-00997 Exhibit 3.pdf,08-00997
Exhibit 4.pdf,08-00997 Exhibit 5.pdf,08-00997 Summary Form.pdf,08-00997 Letters.pdf,08-00997
Exhibit 1.pdf,
History of Legislative File
Version: Acting Body:
Date:
Action: Sent To: Due Date: Return Date: Result:
1 Office of the City
Attorney
2 Office of the City
Attorney
Action Note:
2 City Commission
2 Office of the Mayor
2 Office of the City Clerk
9/5/2008 Review Pending
9/5/2008 Reviewed and
Approved
MODIFICATIONS MADE BY LAW
9/11/2008 ADOPTED WITH
MODIFICATIONS
9/15/2008 Signed by the Mayor Office of the City
Clerk
9/15/2008 Signed and Attested
by City Clerk
Pass
City of Miami Page 2 Printed on 5/12/2017