HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-24-0119
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 15693
Revision: A
File Name: Miami Forever Bond - Allapattah Library
Requesting Dept: Commissioners and Mayor
File Type: Resolution
Status: ADOPTED
Controlling Body: City Commission
Introduced: 3/5/2024
Final Action Date: 3/14/2024
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE, UPON THE
FULFILLMENT BY DULCE VIDAAPARTMENTS, LLC, A FLORIDA LIMITED LIABILITY
COMPANY ( "DEVELOPER" ), OF ALL OF THE TERMS AND CONDITIONS SET
FORTH IN THE COLLECTIVE MEMORANDA TO THE CITY OF MIAMI'S ( "CITY" )
HOUSING AND COMMERCIAL LOAN COMMITTEE, ATTACHED AND
INCORPORATED AS COMPOSITE EXHIBIT "A" ( "HCLC MEMORANDUM" );
ALLOCATING FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO
EXCEED FIFTEEN MILLION AND 00/100 ($15,000,000.00) FROM THE DISTRICT 1
SHARE OF THE MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM
BOND TO DEVELOPER, FOR THE AFFORDABLE HOUSING COMPONENTS OF A
MIXED -USE, COMMERCIAL AND RESIDENTIAL DEVELOPMENT PROJECT TO BE
CONSTRUCTED AND LOCATED AT 1785 NW 35 STREET, TO BE KNOWN AS
"DULCE VIDAAPARTMENTS" ( "PROJECT" ), PROVIDED THAT THE
DEVELOPER FULFILLS ALL OF THE TERMS AND CONDITIONS SET FORTH IN THE
HCD/HCLC APPROVALS, WHICH SHALL BE CONSISTENT WITH THE CITY
COMMISSION APPROVAL; SUCH ALLOCATION TO BE IN COMPLIANCE WITH ALL
APPLICABLE FEDERAL, STATE OF FLORIDA, LOCAL, AND CITY LAWS, RULES, AND
REGULATIONS FOR AFFORDABLE HOUSING PROJECTS, INCLUDING, BUT NOT
LIMITED TO, THIS RESOLUTION, THE BONDS STRATEGIES, ANY APPLICABLE
INTENT TO REIMBURSE RESOLUTION, THE HCLC MEMORANDUM, AND THE MIAMI
FOREVER BOND VALIDATION ORDER (COLLECTIVELY, "LAWS" ); DECLARING
THE OFFICIAL INTENT OF THE CITY OF MIAMI ("CITY") TO ISSUE BOTH TAXABLE
AND TAX-EXEMPT GENERAL OBLIGATION BONDS, IN ONE OR MORE SERIES,
PAYABLE FROM AD VALOREM TAXES PROVIDED THAT THE CAPITAL PROJECTS
DEBT MILLAGE NOT EXCEED THE RATE OF 0.5935 MILLS IN ACCORDANCE WITH
THE NOVEMBER 7, 2017 BOND REFERENDUM APPROVED BY THE VOTERS IN AN
INITIAL EXPECTED NOT TO EXCEED TOTAL MAXIMUM PRINCIPAL AMOUNT OF
FIFTEEN MILLION AND 00/100 DOLLARS ($15,000,000.00) IN ORDER TO, AMONG
OTHER THINGS, REIMBURSE THE CITY FOR FUNDS ADVANCED BY THE CITY FOR
CERTAIN EXPENSES INCURRED WITH RESPECT TO THE PROJECT TO IMPROVE
AFFORDABLE HOUSING WITHIN THE CITY'S LIMITS; ESTABLISHING CERTAIN
RELATED DEFINITIONS OF TERMS; AUTHORIZING CERTAIN FURTHER AND
INCIDENTAL ACTIONS BY THE CITY MANAGER, DESIGNATED CITY OFFICIALS,
AND DEPARTMENTS, IN CONSULTATION WITH THE CITY ATTORNEY AND SUCH
OTHER APPROPRIATE OFFICERS, EMPLOYEES, AND AGENTS OF THE CITY AS
NECESSARY, ALL AS REQUIRED BY ALL APPLICABLE LAWS; FURTHER
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL
NECESSARY DOCUMENTS, INCLUDING AGREEMENTS, AMENDMENTS,
EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY
ATTORNEY AND BOND COUNSEL, SUBJECT TO COMPLIANCE WITH ALL LAWS
AND SUBJECT TO THE DEVELOPER FULFILLING ALL OF THE TERMS AND
CONDITIONS SET FORTH IN THE HCLC MEMORANDUM, IN ORDER TO ALLOCATE
AN AMOUNT NOT TO EXCEED FIFTEEN MILLION AND 00/100 DOLLARS
City of Miami Page 1 of 2 Printed on: 9/5/2024
City of Miami
Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Enactment Number: R-24-0119
($15,000,000.00) FROM THE PROPOSED MIAMI FOREVER AFFORDABLE HOUSING
LIMITED AD VALOREM BONDS TO THE PROJECT FURTHER AUTHORIZING
RELATED AMENDMENTS TO THE CITY'S MULTI -YEAR CAPITAL PLAN AS
NECESSARY.
Sponsor(s): Commissioner Miguel Angel Gabela
Notes: Revision A has the Scrivener's amendment made by law department and per legal opinion, it
may be certified instead original version.
Links:
Attachments: 15693 Exhibit A (PDF)
15693 Exhibit B (PDF)
15693 Scrivener's Error Memo (PDF)
15693 Legislation -SUB (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Legislative Division 3/5/2024 Legislative Division Review Completed
Xavier Alban 3/5/2024 ACA Review Completed
Marie Gouin 3/5/2024 Budget Review Completed
Victoria Mendez 3/5/2024 Approved Form and Completed
Correctness
City Commission 3/14/2024 Meeting Completed
City Commission 3/14/2024 ADOPTED Passed
Mayor's Office 3/21/2024 Signed by the Mayor Completed
City Clerk's Office 3/21/2024 Signed and Attested by the City Completed
Clerk
A Legislative Division 4/8/2024 Legislative Division Review Completed
A Xavier Alban 8/13/2024 ACA Review Completed
A George K. Wysong III 9/5/2024 Approved Form and Completed
Correctness
A City Clerk's Office 9/5/2024 Rendered Completed
City of Miami Page 2 of 2 Printed on: 9/5/2024