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HomeMy WebLinkAboutLegislationCity of Miami Legislation Resolution City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 11-00759 Final Action Date: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CONVEYANCE TO LIBERTY CITY COMMUNITY ECONOMIC DEVELOPMENT CORPORATION, WITH PARCEL REVERTER PROVISIONS, OF THE CITY OF MIAMI OWNED PARCEL OF LAND LOCATED AT 5899 NORTHWEST 17TH AVENUE,MIAMI, FLORIDA, AS LEGALLY DESCRIBED IN EXHIBIT "A", AI IACHED AND INCORPORATED, FOR THE CONSTRUCTION OF ELIZABETH MANOR PROJECT, A MIXED USE PROJECT, AS STATED HEREIN; ALLOWING FOR THE ASSIGNMENT OF THE PURCHASE AND SALE AGREEMENT TO THE PARTNERSHIP TO BE FORMED FOR THE DEVELOPMENT OF THIS PROPERTY; AUTHORIZING THE CITY MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMENT, IN SUBSTANTIALLY THE ATTACHED FORM, AND ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, in 1987, the City of Miami ("City") awarded Community Development Block Grant ("CDBG") funds to Miami, Ltd. II to rehabilitate eight (8) Section 8 Housing properties in the Liberty City area; and WHEREAS, in 2000, these properties were in need of additional repairs but due to the extensive work needed, the City decided to relocate the tenants by means of vouchers to other locations and the buildings were condemned and demolished; and WHEREAS, the City pursued foreclosure of these properties (lots) and the City was issued the certificate of title on October 14, 1999, for said properties; and WHEREAS, Liberty City Economic Development Corporation ("LCCEDC") and A Mother's Care, Inc., both Florida non-profit corporations, will establish a limited partnership with Global Development Initiatives, LLC ("GDI") to develop a new 64-unit apartment building with the ground floor dedicated as a new facility for A Mother's Care, Inc.; and WHEREAS, funding for the project will be with tax exempt bonds and a combination of County Neighborhood Stabilization Program III and Surtax funding and GDI will be responsible for securing any necessary bank financing, such as private bank construction loans and permanent debt; and WHEREAS, the property will be conveyed subject to the following restrictions: (i) the Developer will provide to the City (a) all necessary permits needed to construct the unit(s), and (b) evidence of firm financial commitments for full project financing from the project lender(s); (ii) the conveyance of the property occurs simultaneously with the closing of the construction financing by the lender, if any; (iii) any mortgages on the property obtained by the Developer be subject to the approval of the City Department of Community Development; (iv) the construction of the project must commence within twelve (12) months from the date of property conveyance; (v) the project must be completed (all units constructed, issued Certificates of Occupancy, and rented within thirty six (36) months of City of Miami Page 1 of 3 File Id: 11-00759 (Version: 11 Printed On: 8/31/2011 File Number. 11-00759 conveyance;(vi) all other restrictions as indicated on Exhibit "B," attached and incorporated; and WHEREAS, the City Administration recommends the conveyance to LCCEDC, with parcel reverter provisions, of the City -owned parcel of land located at 5899 Northwest 17th Avenue, Miami, Florida, as legally described in Exhibit "A", attached and incorporated, forthe construction of the Elizabeth Manor Project, a mixed use project, the authorization of the City Manager executing the Purchase and Sale Agreement and the allowance of the LCCEDC to assign the Purchase and Sale Agreement to the partnership formed for the development of this parcel; 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 conveyance to LCCEDC, with parcel reverter provisions, 'of the City -owned parcel of land located at 5899 Northwest 17th Avenue, Miami, Florida, as legally described on Exhibit "A," attached and incorporated, for the construction of the Elizabeth Manor Project, a mixed use project, is authorized, and the assignment of the Purchase and Sale Agreement to the partnership to be formed for the development of this property, is allowed. Section 3. The City Manager is authorized {1) to execute a Purchase and Sale Agreement, in substantially the attached form, and all necessary documents, in a form acceptable to the City Attorney, for said purpose. Section 4. The property conveyance is subject to the following restrictions: (i) the Developer provide to the City (a) all necessary permits needed to construct the unit(s), and (b).evidence of firm financial commitments for full project financing from the project lender(s); (ii) the conveyance of the property occurs simultaneously with the closing of the construction financing by the lender, if any; (iii) any mortgages on the property obtained by the Developer be subject to the approval of the City Department of Community Development; (iv) the construction of the project must commence within twelve (12) months from the date of property conveyance; (v) the project must be completed (all units constructed, issued Certificates of.Occupancy, and rented within thirty six (36) months of conveyance;(vi) all other restrictions as indicated on Exhibit "B," attached and incorporated. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{2} APPROVED AS TO FORM AND CORRECTNESS:e- JULIE O. BRU /' CITY ATTORNEY City of Miami Page 2 of 3 File Id: 11-00759 (Version: 1) Printed On: 8/31/2011 File Number: 11-00759 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 3 of 3 File Id: 11-00759 (Version: 1) Printed On: 8/31/2011