HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
File ID: #1319
Date: 11/15/2016
Commission Meeting Date: 12/08/2016
Requesting Department: Department of
Community and Economic Development
Sponsored By:
District Impacted:
Type: Resolution
Subject: Exec. Amendment - Flagler First Condo.
Purpose of Item:
Authorizing the City Manager to execute Amendment No. 8, to the agreement with
Flagler First Condominiums, LLC, in substantially the attached form, relating to the
redevelopment of an affordable housing condominium project known as Flagler First
Condominium, located at 101 East Flagler Street, Miami, Florida ("Project"); providing
an extension of the deadline for the sale of all the project residential condominium units
until December 31, 2017.
Background of Item:
The City of Miami ("City") entered into an Agreement ("Agreement") with Flagler First
Condominiums, LLC ("Developer") relating to the redevelopment of an affordable
housing condominium project, known as Flagler First Condominium, located at 101 East
Flagler Street, Miami, Florida, to consist of no less than ninety (90) affordable residential
condominium units and approximately 7,000 square feet of retail space ("Project").
In accordance with the Agreement, the Developer was required to obtain certificates of
occupancy for the Project and all of the Project's residential condominium units by June
23, 2005.
The Developer experienced delays beyond its reasonable control, such as bringing the
building's premises to hurricane/wind load and fire code requirements, delays in
construction due to Hurricane preparations in 2005, and additional unforeseen structural
work that was required.
The Developer experienced further delays, beyond its reasonable control, such as
bringing the building's premises to hurricane/wind load and fire code requirements,
delays in construction due to Hurricane preparations in 2005, and additional unforeseen
structural work that was required.
The Developer obtained the Project certificates of occupancy by the City's extended
deadline, but experienced delays in the sale of all of the Project's residential
condominium units.
Pursuant to R- 15-0242, adopted March 28, 2015, the Developer was granted an
extension on the sale because of delays due to the restrictions imposed by Miami -Dade
County making it difficult to sell the remaining residential units to eligible buyers.
The Developer has yet to obtain eligible buyers for all of the Project's residential
condominium units and has thus requested an additional extension until September 30,
2016 for the sale of all units.
Pursuant to R- 16-0110, adopted on March 11, 2016 the Developer was granted an
extension until September 30, 2016 to complete the sale of the final 3 units. To date
they have closed on the sale of one unit and need an additional extension until
December 31st, 2017 to finalize the sale of the last two units.
Budget Impact Analysis
Item is NOT Related to Revenue
Item has NOT an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
Reviewed B
Department of Community and Economic Development
Review Completed 11/15/2016 4:52 PM
Office of Management and Budget Luis Hernandez -Torres
Office of Management and Budget Christopher M Rose
City Manager's Office Alberto N. Parjus
City Manager's Office
Legislative Division
Office of the City Attorney
Office of the City Attorney
City Commission
Office of the Mayor
Office of the City Clerk
Daniel J. Alfonso
Valentin J Alvarez
Barnaby L. Min
Victoria Mendez
Nicole Ewan
Mayor's Office
City Clerk's Office
George Mensah
Budget Analyst Review
Budget Review
Assistant City Manager Review
Department Head
Completed
Completed
Completed
City Manager Review Completed
Legislative Division Review Completed
Deputy City Attorney Review Completed
Approved as to Form and Correctness
Meeting Completed
Signed by the Mayor Completed
Signed and Attested by the City Clerk Completed
11/16/2016 2:48 PM
11/03/2016 10:37 AM
11/03/2016 3:03 PM
11/04/2016 8:00 AM
11/23/2016 2:49 PM
11/23/2016 2:56 PM
Completed
12/08/2016 9:00 AM
12/16/2016 4:11 PM
12/16/2016 4:43 PM
City of Miami
Legislation
Resolution
Enactment Number: R-16-0606
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 1319 Final Action Date:12/8/2016
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO EXECUTE AMENDMENT NO. 8 TO THE
AGREEMENT WITH FLAGLER FIRST CONDOMINIUMS, L.L.C., IN SUBSTANTIALLY
THE ATTACHED FORM, RELATING TO THE REDEVELOPMENT OF AN
AFFORDABLE HOUSING CONDOMINIUM PROJECT KNOWN AS FLAGLER FIRST
CONDOMINIUM LOCATED AT 101 EAST FLAGLER STREET, MIAMI, FLORIDA
("PROJECT") PROVIDING AN EXTENSION OF THE DEADLINE FOR THE SALE OF
ALL THE PROJECT RESIDENTIAL CONDOMINIUM UNITS UNTIL JUNE 30, 2017;
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL OTHER
DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE
NECESSARY TO COMPLETE THE PROJECT TRANSACTION.
WHEREAS, the City of Miami ("City") entered into an Agreement ("Agreement") with
Flagler First Condominiums, L.L.C. ("Developer") relating to the redevelopment of an affordable
housing condominium project, known as Flagler First Condominium, located at 101 East Flagler
Street, Miami, Florida, to consist of no less than ninety (90) affordable residential condominium
units and approximately 7,000 square feet of retail space ("Project"); and
WHEREAS, in accordance with the Agreement, the Developer was required to obtain
certificates of occupancy for the Project and all of the Project's residential condominium units by
June 23, 2005; and
WHEREAS, the Developer experienced delays beyond its reasonable control, such as
bringing the building's premises to hurricane/wind load and fire code requirements, delays in
construction due to Hurricane preparations in 2005, and additional unforeseen structural work
that was required; and
WHEREAS, the Project, pursuant to Resolution No. 08-0227, adopted April 24, 2008,
was granted an extension until June 30, 2008 for the receipt of all certificates of occupancy and
until June 30, 2010 for the sale of all the Project's residential condominium units; and
WHEREAS, the Developer obtained the Project certificates of occupancy by the City's
extended deadline but experienced delays in the sale of all of the Project's residential
condominium units; and
WHEREAS, Resolution No. 16-0110, adopted March 11, 2016, granted the Developer
an extension on the sale of all the units because of delays due to the restrictions imposed by
Miami -Dade County making it difficult to sell the remaining residential units to eligible buyers;
and
WHEREAS, the Developer has yet to obtain eligible buyers for all of the Project's
residential condominium units and has thus requested an additional extension until June 30,
2017 for the sale of all units;
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 reference and incorporated as if fully set forth in this Section.
Section 2. The City Manager is authorized' to execute Amendment No. 8 to the
Agreement with the Developer, in substantially the attached form, relating to the Project,
providing an extension of the deadline for the sale of all the Project residential condominium
units until June 30, 2017.
Section 3. The City Manager is further authorized' to negotiate and execute all other
documents, in a form acceptable to the City Attorney, as may be necessary to complete the
Project transaction.
Section 4. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
ndez, ity Attor ey 11/29/2016
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.