HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 08-01517 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE CITY
MANAGER TO RATIFY THE HOUSING AND COMMERCIAL LOAN COMMITTEE
APPROVAL DATED APRIL 20, 2007 SUBSTITUTING $253,787 IN COMMUNITY
DEVELOPMENT BLOCK GRANT FUNDS AND $2,022 IN HOME INVESTMENT
PARTNERSHIP FUNDS WITH AFFORDABLE HOUSING TRUST FUNDS TO
PENINSULA HOUSING DEVELOPMENT, INC. XVII, FOR THE LA PALMA
APARTMENTS PROJECT LOCATED AT 1040 SOUTHWEST 1ST STREET,
MIAMI, FLORIDA; FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE
THE NECESSARY DOCUMENTS FOR SAID PURPOSE.
WHEREAS, on October 24, 2003, September 17, 2004 and January 21, 2005, the Housing and
Commercial Loan Committee ("HCLC") approved the allocation of $261,340 in Community
Development Block Grant ("CDBG") funds and $487,213 in HOME Investment Partnership ("HOME")
funds to Peninsula Housing Development, Inc. XVII ("Peninsula") for the La Palma Apartments project
("Project") located at 1040 Southwest 1st Street, Miami, Florida; and
WHEREAS, pursuant to Resolution No. 07-0203, adopted April 12, 2007, the Miami City
Commission approved the Affordable Housing Trust Fund ("AHTF") Guidelines; and
WHEREAS, on April 20, 2007 the HCLC approved the substitution of $253,787 in CDBG funds and
$2,022 in HOME funds expended for the Project because of land banking issues with AHTF; and
WHEREAS, Peninsula is a Florida not -for -profit corporation whose sole member is Codec, Inc., a
Florida not -for -profit corporation. Codec, Inc. is a certified Community Housing Development
Organization; and
WHEREAS, according to the AHTF Guidelines, funds can only be allocated through Request for
Proposal or Miami City Commission approval; and
WHEREAS, such allocation was not made through an Request for Proposals process or by the
Miami City Commission; and
WHEREAS, on August 21, 2006 the HOME contract was fully executed and on October 1, 2007
construction on the Project commenced; and
WHEREAS, the Project is currently 97% complete and the AHTF allocation has already been built
into the financing of the Project; and
WHEREAS, the Administration recommends that the City ratify the HCLC approval dated April 20,
2007 of substituting $253,787 in CDBG funds and $2,022 in HOME funds with AHTF to Peninsula for
the La Palma Apartments Project located at 1040 Southwest 1st Street, Miami, Florida;
City of Miami Page 1 of 2 Printed On: 12/24/2008
File Number: 08-01517
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
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 ratify the HCLC approval dated April 20, 2007 of
substituting $253,787 in CDBG funds and $2,022 in HOME funds with AHTF to Peninsula for the La
Palma Apartments project located at 1040 Southwest 1st Street, Miami, Florida.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
the Mayor. {2}
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O/BRU /t/
CITY ATTORNEY
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 Printed On: 12/24/2008