HomeMy WebLinkAboutSummary FormDate: 3/0/293.3.
AGENDA ITEM SUMMARY FORM
FILE ID: /,/-ea" 9'0
Requesting Department City Manager
Commission Meeting Date: 2i24t2011 • District Impacted: IE,
Type: ® Resolution 0 Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Amendment No. 4 of Grant Agreement Between the City of Miami and Flagler First
Condominiums. LLC.
Purpose of Item:
A Resolution of the Miami City Commission authorizing the City Manager to execute Amendment
No. 4 to the agreement with Flagler First Condominiums, LLC, relating to the redevelopment of an
affordable housing condominium project located at 101 East Flagler Street, Miami, FL, providing an
extension of the deadline for the sale of all project residential condominium units until December 2,
2013.
Background Information:
The City of Miami entered into an Agreement as amended with Flagler Fast Condominiums, LLC
(Developer") for the construction of no less than ninety (90) affordable residential condominium
units. Of the ninety (90), the Developer was to sell eighty-one (81) units by June 30, 2010. Due to
the inability to sell all 81 units by the deadline, the Developer has requested an extension until
December 2, 2013 for the sale of the units.
Iudget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CH' Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If mini ur ti;as
Grants •
Final Approvals
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• • Budget
Risk Management
Purchasing /� Dept. Director
v.4%Ll cp City Manager � CC:a—
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