HomeMy WebLinkAboutMemo 1CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
co :
Members of the Housing and Commercial
Loan Committee
FROM: Barbara Gomez -Rodriguez,
Department of Community
BACKGROUND
DATE : October 20, 2003
Cr:
REFERENCES
ENCLOSURES:
FILE
HOME and CDBG RFP Recommendations
29th Program Year (2003-2004)
In July 2003, the City of Miami issued a Request for Proposals (RFP) covering Home Investment
Partnerships (HOME) and Community Development Block Grant (CDBG) funding for (1) new
construction homeownership projects, (2) first-time homebuyer,ass'istance, (3) new construction
multi -family rental projects by a Community Based Development Organization (CBDO) or a
Community Housing Development Organization (CHDO), (4) housing project management
support for new construction homeownership projects (CHDO and non-profit) and (5) Commission
District 4 housing related pilot projects. The total funding as listed in the RFP, $6,355,685, is as
follows:
Project Category I — New Construction First Time Homebuyer
and Project Category II - First Time Homebuyer Assistance
Project Category III - New Construction Multi -family Rental
Project Category IV - Housing Project Management Support
(Non-profit new construction homeownership projects only)
Project Category V - Commission District 4 Housing Related
Pilot Projects
3,855,685
1,000,000
1,000,000
500,000
In response to the City's solicitation, fifty-three (53) proposals were received. Based on the
Department of Community Development's review, a total of thirteen (13) proposals were found to
be responsive to the RFP's requirements as determined by the project category rating criteria. A
list of all reviewed proposals and their rating is attached.
HOME and CDBG RFP FUNDING RECOMMENDATIONS:
Proposals related to Project Category IV -Housing Program Management Support and in -fill new
construction housing projects under Project Category I will be reviewed by December 2003. The
following projects are being recommended for funding. Additional detail is provided in the
attachments.
1
HOME Funding: Project Category I — New Construction Homebuyer Projects:
1. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
2. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
3. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
4. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
5. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
Greater Miami Neighborhood Inc.
Villas de la Rivera
$10,869,177
100
10
$569,177
$569,177
Wagner Square LLC
Wagner Square Condominiums
$14,704,050
99
11
$1,200,000
$750,000
Soho LLC/Downtown Miami CDC
Soho Lofts
$15,715,625
85
11
$1,000,000
$750,000
Coral East Corporation
Keystone Square
$19,974,600
78
11
$1,000,000
$750,000
River Run Apartments, Inc.
River Run South Condominiums
$24,565,810
174
11
$1,000,000
$800,000
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6. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
7. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
Rivers Development Group.
Grove Point
$10,000,000
45
10
$1,000,000
$750,000
Alapattah Business Development Authority
Allapattah Scattered Sites
$1, 206,000
9
9
$422,100
$422,100
In addition, five (5) in -fill housing proposals were
submitted. Funding recommendations
consideration for those projects will be presented in December 2003.
CDBG Funding: Project Category II First Time Homebuyer Assistance:
1. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
2. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of HOME Units:
Amount Requested:
HOME Funding Recommended:
Haven Economic Development Corporation
Single Family Rehabilitation-Homebuyer Program
$2,900,000
10
10
$250,000
$250,000
Habitat for Humanity of Greater Miami
Edison/Little River and Overtown Scattered Sites
$1,845,000
20
20
$600,000
$600,000
CDBG — Project Category III — New Construction Multi -family Rental
1. Applicant:
Project Name:
Estimated Project Development Cost:
Number of Total Units:
Number of CDBG Units:
Amount Requested:
CDBG Funding Recommended:
CODEC Inc.
La Palma
$7,704,140
91
91
$261,340
$261,340
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2. Applicant: Little Haiti Housing Association
Project Name: 6601 NE Miami Place Apartments
Estimated Project Development Cost: $
Number of Total Units: 16
Number of CDBG Units: 6
Amount Requested: $200,000
CDBG Funding Recommended: $200,000
CDBG — Project Category IV — Housing Program Management Services
This category is under review and will be presented at the November 2003 Housing and
Commercial Loan Committee.
HOME — Project Category V-Commission District 4 Pilot Project
1. Applicant: RJM LeJeune Investment Properties
Project Name: LeJeune Apartments
Project Development Cost: $
Number of Total Units: 106
Number of HOME Units: 11
Amount Requested: $1,500,000
HOME Funding Recommended: $750,000
In order to fund all projects recommended for HOME funding, additional HOME funds of
$1,263,492 from previous funding years is required for a total of $5,119,177. The CDBG funding
will remain at $2,500,000 as per the RFP with approximately $266,560 to be applied to the City's
First Time Homebuyer Assistance Program. The funding and recommendations are profiled as
follows:
HOME FUNDING:
TOTAL HOME (03-04 RFP)
3,855,685
ADDITIONAL HOME
1,263,492
TOTAL HOME AVAILABLE
5,119,177
TOTAL HOME REQUESTED
23,453,206
TOTAL HOME RECOMMENDED
5,119,177
TOTAL HOME BALANCE
0
New Construction
Homeownership & Rental
(HOME)
Greater Miami Neighborhood
Services
569,177
Wagner Square LLC
750,000
Soho Lofts LLC
750,000
Coral East Corporation
750,000
River Run Apartments Inc.
800,000
Rivers Development Group
750,000
Le Jeune Inc. (Rental -District IV)
750,000
TOTAL
5,119,177
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CDBG FUNDING:
TOTAL CDBG (03-04 RFP)
2,500,000
TOTAL CDBG REQUESTED
11,122,106
TOTAL CDBG RECOMMENDED
2,500,000
TOTAL CDBG BALANCE
0
Scattered Site Homeownership
(CDBG)
Allapattah Business
Development Authority
422,100
TOTAL
422,100
New Construction Multi -family
Rental
(CDBG)
CODEC, INC.
261,340
Little Haiti Housing Association
200,000
TOTAL
461,340
'Homebuyer Assistance
(CDBG)
Haven Economic Development
Corporation
250,000
Habitat for Humanity
600,000
City's First Time Homebuyer
Assistance Program
266,560
TOTAL
1,116,560
Housing Program Management
Support
(CDBG)
Proposals to be Reviewed
500,000
In summary, Staff recommends approval for (1) funding the aforementioned projects with HOME
and CDBG funding along with terms and conditions as detailed in the attached Department of
Community Development Housing and Commercial Loan Committee Application Evaluation
forms, (2) the use of previous year(s) HOME funds for the purpose of funding HOME projects
under the RFP and (3) applying the remaining balance of CDBG funds in the amount of $266,250
to the City's First Time Homebuyer Assistance Program. This final amount is subject to change
based on the final decisions related to Project Category IV -Housing Program Management
Support.
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