HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 14-00500
Date: 05/12/2014
Commission Meeting Date:ID/bC /2®4
Type:
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
District Impacted: 5
Resolution 1 Ordinance I Emergency Ordinance
Other
Discussion Item
Subject: THE CONVEYANCE TO SOUTHEAST OVERTOWN/PARKWEST COMMUNITY
REDEVELOPMENT AGENCY ("SEOPW CRA"), WITH PARCEL REVERTER PROVISIONS, OF THE
CITY OF MIAMI OWNED PARCELS
Purpose of Item:
AUTHORIZING THE CONVEYANCE TO SOUTHEAST OVERTOWN/PARKWEST
COMMUNITY REDEVELOPMENT AGENCY ("SEOPW CRA"), WITH PARCEL REVERTER
PROVISIONS, OF THE CITY OF MIAMI OWNED PARCELS OF LAND LOCATED AT 244 NW
16th STREET, 1900 NW 2ND COURT, 1624 NW 1ST COURT, AND 1611 NW 3RD AVENUE,
MIAMI FLORIDA , AS LEGALLY DESCRIBED IN EXHIBIT "A", ATTACHED AND
INCORPORATED, FOR THE CONSTRUCTION OF AFFORDABLE HOUSING PROJECTS;
AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS
ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: TO BE DETERMINED
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP Budget
Risk Management
Purchasing Dept. Director
Chief ®` ' a3 l �j City Manage
Page 1 of 1
If using or receiving capital funds
Grants
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
On May 18, 2005 Overtown Condominium, LLC assumed a City of Miami mortgage on the properties
located at 244 NW 16th St, 1900 NW 2nd Ct, 1624 NW lst Ct, Miami Florida and closed on an
additional $1.2 million in State Housing Initiative Partnership ("SHIP") funds to construct 26
residential townhomes.
On September 19, 2008 the City of Miami de -obligated the remaining unspent funds and began
collection efforts which resulted in a deed -in -lieu of foreclosure for all the properties.
The City Attorney's office will continue to use all means at its disposal to collect the remaining funds.
SEOPW CRA is willing to assist the City to complete this project to ensure that the funds already
spent yields the number of units of housing promised to the State; and complete this project.
The City of Miami also owns the site located at 1611 NW 3rd Avenue, Miami, Florida which was
acquired through a foreclosure action on October 13, 1999.
All attempts to develop this property through request for proposals have not been successful.
The properties will be conveyed subject to the following restrictions: (i) the number of units to be
constructed on the sites should represent the highest and best use possible under Miami 21 (ii) all
residential units must be made available to families with incomes equal to or less than 80% of area
median income, as published annually by US Department of Housing and Urban Development
(HUD), (iii) Any commercial development must serve primarily the residents of the community, and
(iv) the project must be completed (all units constructed, issued Certificates of Occupancy, and
rented) within forty-eight (48) months of conveyance.
The Administration recommends the conveyance to Southeast Overtown/Parkwest Community
Redevelopment Agency ("SEOPW CRA"), with parcel reverter provisions, of the City of Miami owned
parcels of land located at 244 NW 16th St, 1900 NW 2nd Ct, 1624 NW 1st Ct, Miami; and 1611 NW
3RD Avenue, Miami, Florida as legally described in Exhibit "A" attached an incorporated, for the
construction of affordable housing projects.