HomeMy WebLinkAboutLegislationCity of Miami
Legislation
Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 14-00958 Final Action Date:
A RESOLUTION OF THE MIAMI CITY COMMISSION APPROVING A REQUEST TO
SATISFYA MORTGAGE IN THE AMOUNT OF THREE HUNDRED THOUSAND
DOLLARS ($300,000.00) IN COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS,
TO LITTLE HAVANAACTIVITIES AND NUTRITION CENTER OF DADE COUNTY,
INC.; AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY
DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID
PURPOSE.
WHEREAS, pursuant to Resolution No. 85-1234, adopted December 19, 1985, the City
Commission approved the allocation of funds in the amount of three hundred thousand dollars
($300,000.00) of Community Development Block Grant ("CDBG") funds to the Little Havana Activities
and Nutrition Center of Dade County, Inc. ("LHANC") for the purchase of a building located at 700
Southwest 8 Street, Miami, Florida ("Property"); and
WHEREAS, on May 2, 1986, the City executed a Mortgage and a Promissory Note ("Note") in
the amount of three hundred thousand dollars ($300,000.00) to LHANC for the purchase of the
Property; and
WHEREAS, the Note has no term and requires the borrower to provide services to the elderly
in the City in perpetuity; and
WHEREAS, LHANC has requested that the City satisfy the mortgage executed for the
purchase of the Property in 1986 to allow the organization to transfer the Property to a wholly -owned
tax exempt subsidiary free and clear; and
WHEREAS, the transfer will allow the organization to secure New Market Tax Credits of over
$15 million to expand its main senior center, adult day care centers, primary care clinic, and child care
facility in the property; and
WHEREAS, LHANC has provided services to the elderly in the community for almost 30 years
since the execution of the mortgage and will continue to do so after the satisfaction of the mortgage;
and
WHEREAS, the satisfaction of the mortgage will allow LHANC to be in a better position to
provide services elderly for years to come; and
WHEREAS, the City Administration recommends the Satisfaction of Mortgage be executed for
the above mortgage;
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
City of Miami Page I of 2 File Id: 14-00958 (Version: 1) Printed On: 10/8/2014
File Number: 14-00958
by reference and incorporatedas fully set forth in this Section.
Section 2. A request to satisfy a mortgage in the amount of three hundred thousand dollars
($300,000.00), in CDBG funds, to LHANC, is approved.
Section 3. The City Manager is authorized{1} to execute the necessary documents, in a form
acceptable to the City Attorney, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoption and signature
of the Mayor,{2}
APPRsVED AS TO FORM AND CORRECTNESS:
VICi •RIA M ' NDEZ
CITY ATTORNEY
3
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: 14-00958 (Version.: 1) Printed On: 10/8/2014