HomeMy WebLinkAboutResolutionCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 06-01449 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION, AMENDING RESOLUTION
NO. 05-0577, ADOPTED SEPTEMBER 22, 2005, TO MODIFY THE
REIMBURSEMENT SCHEDULE TO REFLECT THE DELETION OF THE
DECLINING RATE SCHEDULE FOR THE NEIGHBORS AND NEIGHBORS
ASSOCIATION, INC. AND TO REPLACE IT WITH A FIVE YEAR COVENANT
WHERE PARTICIPATING PROPERTY OWNERS ARE REQUIRED TO REIMBURSE
THE CITY OF MIAMI ("CITY") IF THE PROPERTY IS SOLD, UNTIL FIVE YEARS
AFTER THE CONTRACT EXPIRATION DATE.
WHEREAS, pursuant to Resolution No. 05-0577, adopted September 22, 2005, the City
Commission approved the allocation of $500,000 to Neighbors and Neighbors Association, Inc. for
the rehabilitation of the building facades for businesses between Northwest 54 and 58 Street, along
Northwest 7th Avenue, Miami, Florida; and
WHEREAS, in addition to the allocation, the following reimbursement schedule (declining rate)
was approved: participating property owners will be required to reimburse the City of Miami ("City") if
the property is sold before five (5) years, at a declining rate as follows: first year through third
year-100%, fourth year-75%, fifth year- 50%, sixth year- 25%, seventh year-10%, and eight year -full
grant (no reimbursement required); and
WHEREAS, per United States Housing and Urban Development regulations, funds must be "used
to meet one of the national objectives in Sec. 570.208 (formerly Sec. 507.901) until five years after
expiration of the agreement or for such longer period of time as determined to be appropriate by the
recipient;" and
WHEREAS, the Administration is recommends modifying the said schedule, to delete the
declining rate schedule and replace it with a five year covenant where participating property owners
are required to reimburse the City if the property is sold until five years after the contract expiration
date;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI,
FLORIDA:
Section 1. The recitals contained in the Preamble to this Resolution are adopted by reference and
incorporated as if fully set forth in this Section.
Section 2. Resolution No. 05-0577, adopted on September 22, 2005, is amended to modify the
reimbursement schedule to reflect the deletion of the declining rate schedule and to replace it with a
five year covenant where participating property owners are required to reimburse the City if the
property is sold, until five years after the contract expiration date.
Section 3. This Resolution shall become effective immediately upon its adoption and signature of
City of Miami Page 1 of 2 File Id: 06-01449 (Version: 1) Printed On: 9/17/2024
File Number: 06-01449
the Mayor.{1}
APPROVED AS TO FORM AND CORRECTNESS:
JORGE L. FERNANDEZ
CITY ATTORNEY
Footnotes:
{1} If the Mayor does not sign this Resolution, it shall become effective at the end of ten 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 File Id: 06-01449 (Version: 1) Printed On: 9/17/2024