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HomeMy WebLinkAboutR-12-0226City of Miami Legislation Resolution: R-12-0226 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12-00460 Final Action Date: 6/14/2012 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), GRANTING MIAMI DREAM HOMES INVESTMENT GROUP, INC., AN EXTENSION OF TIME FROM JUNE 30, 2011 TO JUNE 30, 2012, TO COMPLETE CONSTRUCTION AND CONVEY THE COMMUNITY DEVELOPMENT BUILDING PROJECT LOCATED AT 1525 NORTHWEST 60TH STREET, MIAMI, FLORIDA, LEGALLY DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED, TO THE CITY OF MIAMI; AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, pursuant to Resolution No. 05-0357, adopted May 26, 2005, the City Commission approved the conveyance, with title reverter conditions, of eleven (11) parcels of City of Miami ("City") owned land directly to developers, for the construction of affordable housing for eligible low and moderate income persons; and WHEREAS, on September 27, 2005, a Quit Claim Deed was executed between the City and Miami Dream Homes Investment Group, Inc. ("Miami Dream Homes") conveying six (6) of the eleven (11) City -owned parcels to Miami Dream Homes; and WHEREAS, the Housing and Commercial Loan Committee approved $769,993 in Home Investment Partnership ("HOME") Program funds and $240,007 in State Housing Initiative Partnership Program ("SHIP") funds in connection with the development of the Community Development ("CD") Building project; and WHEREAS, on July 5, 2006, Loan Agreements in the amount of $769,993 in HOME funds and $240,007 in SHIP funds were executed between the City and Miami Dream Homes; and WHEREAS, pursuant to Resolution No. 06-0329, adopted May 25, 2006, the City Commission amended Resolution No. 05-0357, to reflect the parcel located at 1525 Northwest 60th Street, Miami, Florida, to be developed as a new construction multi -family rental project consisting of seven (7) units for low income persons and said property to be conveyed to the City upon issuance of a Certificate of Occupancy; and WHEREAS, pursuant to Resolution Nos. 07-0133, 08-0250, 09-0174, 09-0565 10-0287 and 11- 0047 adopted March 8, 2007, May 8, 2008, April 2, 2009, December 17, 2009, July 8, 2010 and February 10, 2011, the City Commission approved various extensions for the completion of construction and conveyance of the property to the City to June 30, 2011; and WHEREAS, the project is currently completed, and the developer is waiting for the Certificate of Occupancy, the extension is necessary to remove any possible cloud from the title; and WHEREAS, the City Administration recommends granting Miami Dream Homes an extension of City of Miami Page 1 of 2 File Id: 12-00460 (Version: 21 Printed On: 11/20/2017 File Number: 12-00460 Enactment Number: R-12-0226 time to complete construction of the CD Building Project located at 1525 Northwest 60th Street, Miami, Florida, legally described in Exhibit "A", attached and incorporated, from June 30, 2011 to June 30, 2012, and for the conveyance of the project to the City; 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 referenced and incorporated as fully set forth in this Section. Section 2. Miami Dream Homes is granted an extension of time from June 30, 2011 to June 30, 2012, to complete construction and convey the CD Building Project located at 1525 Northwest 60th Street, Miami, Florida, legally described in Exhibit "A", attached and incorporated, to the City. Section 3. It is in the intention of the City Commission that title to the parcels described in Exhibit "A" attached and incorporated, shall be deemed to have remained in Miami Dream Homes from the date of conveyance, and that the extension of time granted herein shall be deemed to have been made on or before June 30, 2011. Section 4. The City Manager is authorized {1} to execute all necessary documents, in a form acceptable to the City Attorney, for said purpose. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.{2} 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 2 of 2 File Id: 12-00460 (Version: 21 Printed On: 11/20/2017