HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID:
/a -605'9/
Law Department
Matter ID No.
Date: 08/07/2012 Requesting Department: Community Development
Commission Meeting Date: 09/13/2012 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance .❑ Discussion Item
❑ Other
Subject: CONVEYANCE OF CITY OWNED PROPERTIES TO ALLAPATTAH BUSINESS
DEVELOPMENT AUTHORITY, INC. ("ABDA")
Purpose of Item:
CONVEYING, WITH PARCEL REVERTER PROVISIONS, THE CITY OF MIAMI OWNED
PROPERTIES LOCATED AT 2525 NORTHWEST 34TH STREET, MIAMI, FLORIDA AND 1924
NORTHWEST 26TH STREET, MIAMI, FLORIDA, AS LEGALLY DESCRIBED IN EXHIBIT "A",
ATTACHED AND INCORPORATED, TO ALLAPATTAH BUSINESS DEVELOPMENT AUTHORITY,
INC. ("ABDA"), FOR THE PURPOSE OF DEVELOPMENT AND MANAGEMENT OF
AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME FAMILIES; AUTHORIZING THE
CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, FOR SAID PURPOSE.
Background Information:
Please see attached
Budget 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:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
If using or receiving capital funds
Grants
Final Approvals
(SIGN AND DATE)
Budge
Risk Management
Dept. Director
City Manager
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
On June 30, 2008, President George W. Bush signed the Housing and Economic Recovery Act of
2008, ("HERA") which appropriated $3.92 billion for assistance to state and local governments for the
redevelopment of abandoned and foreclosed homes under the Neighborhood Stabilization Program
("NSP").
The City of Miami ("City") was awarded $12,063,702 of this federal funding to acquire, rehabilitate,
and re-sell/rent, lender -foreclosed properties to income eligible buyers and renters.
Pursuant to Resolution No. R-08-0641, adopted November 13, 2008, the Miami City Commission
approved the acceptance of these funds from the United States Department of Housing and Urban
Development ("HUD") for the implementation of the NSP.
Pursuant to Resolution No R-08-0642, adopted November 13, 2008, the Miami City Commission
approved the NSP plan which included the purchase and rehabilitation of single and multi -family
properties as a neighborhood stabilization strategy.
Said properties were acquired with NSP funds and the rehabilitation of the property located at 2525
Northwest 34th Street is 90% complete and the property located at 1924 Northwest 26th Street is
pending rehabilitation.
It is in the best interest of the City to allow a non-profit community based organization to develop and
manage these properties.
ABDA, is the primary affordable housing not -profit organization and certified Community Housing
Development Organization, doing business in the Allapattah neighborhood.
The Administration recommends the conveyance, with parcel reverter provisions, of the City owned
properties located at 2525 Northwest 34th Street, Miami, Florida and 1924 Northwest 26th Street,
Miami, Florida, as legally described in Exhibit "A", attached and incorporated, to ABDA, for the
rehabilitation and rental to low and moderate income families as defined under the NSP.