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HomeMy WebLinkAboutLegislation SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. • !1 H City of Miami Legislation Resolution: R-17-0512 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 2760 Final Action Date: 11/16/2017 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO AWARD THE CONVEYANCES, WITH AFFORDABLEIWORKFORCE RENTAL HOUSING RESTRICTIONS AND REVERTER PROVISIONS, OF CERTAIN CITY OF MIAMI ("CITY") OWNED PARCELS OF LAND LOCATED APPROXIMATELY AT 1501, 1515, 1525, 1535, 1551, 1560, 1520, 1500 NORTHWEST 62 STREET, 1305, 1321, 1331, 1341, 1361 NORTHWEST 61 STREET, AND 6240 NORTHWEST 15 AVENUE, MIAMI, FLORIDA, AS DESCRIBED IN "ATTACHMENT "A," ATTACHED AND INCORPORATED, RESPECTIVELY TO ATLANTIC PACIFIC COMMUNITIES, LLC AND CENTENNIAL MANAGEMENT CORP. (COLLECTIVELY, "DEVELOPERS"), THE RESPONSIVE AND RESPONSIBLE BIDDERS RESPONDING TO A REQUEST FOR PROPOSALS ISSUED NOVEMBER 21, 2016 BY THE CITY'S DEPARTMENT OF COMMUNITY AND ECONOMIC DEVELOPMENT FOR THE DEVELOPMENT OF AFFORDABLE/WORKFORCE RENTAL HOUSING IN ACCORDANCE WITH SECTION 29-B(A) OF THE ezz CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED; FURTHER 47 AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE, IN FORM(S) ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, PURCHASE AND SALE AGREEMENT(S) FOR EACH SUCH PARCEL, AND ANY AND ALL OTHER NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO -71 THE CITY ATTORNEY AND BOND COUNSEL, FOR SAID PURPOSE TO CONVEY THE RESPECTIVE PARCELS TO THE DEVELOPERS AND IN Y:' COMPLIANCE WITH THE REQUIREMENTS UNDER THE U.S. INTERNAL w REVENUE CODE OF 1986, AS AMENDED. WHEREAS, on November 21, 2016, the City of Miami ("City") issued a Request for Proposals ("RFP") inviting qualified private real estate developers to propose developments of Affordable/Workforce rental housing on certain City -owned parcels of land; and WHEREAS, a total of six (6) responses were received, two (2) of which met the minimum threshold and fulfilled all the proposal requirements as responsive and responsible bidders: Atlantic Pacific Communities, LLC and Centennial Management, Corp. (collectively, "Developers"); and WHEREAS, the City Administration is recommending to award the conveyances, with restrictions and reverter provisions, to the Developers of the City -owned properties located between Northwest 13th and 15th Avenues and Northwest 61st and 62nd Streets, Miami, Florida, as legally described in Attachment "A," attached and incorporated, (collectively, "Parcels") with affordable/workforce rental housing restrictions and reverter provisions; and WHEREAS, certain of the Parcels have been acquired with, refinanced by, or improved by tax-exempt bond funds of the City and such restricted funds will need to be repaid by the Developers to the City in order to comply with continuing requirements of the U.S. Internal Revenue Code of 1986, as amended; and City of Miami Page 1 of 3 File 1C1: 2760 (Revision: A) Printed On: 113112019 2760 Legislation SUB File ID: 2760 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number: R-17-0512 WHEREAS, the restrictions and reverter provisions contained in the conveying instruments shall require the Parcels to revert to the City if (i) the developments are not completed within twenty-four (24) months of the date of closing as evidenced by a Certificate of Occupancy, which may be amended by the Director of the Department of Community and Economic Development ("Director"), and (ii) the developments are not solely used for low to moderate household income housing; and WHEREAS, the Parcels shall be for the development of AffordableiWorkforce rental housing in accordance with Section 29-B(a) of the Charter of the City of Miami, Florida, as amended ("City Charter"); and WHEREAS, the City shall require the following in order to convey the Parcels to the Developers: (i) evidence satisfactory to the Director that financial commitments from the lender or lenders have been received, (ii) any mortgages obtained by the Developers on the Parcels will be subject to the approval of the Director, (iii) payment by the Developer to the City of the total amount of restricted funds used to acquire, refinance, or improve the Parcel(s) with an affidavit of such payment and receipt by the City of such payment(s) in form(s) acceptable to the City's Finance Director, the City Attorney, and Bond Counsel, and (iv) the closing of the Parcels occurs simultaneously with the closing of the construction financing by the lender(s), if any; and WHEREAS, the Parcels shall be conveyed through purchase and sale agreements ("Agreements") and any other necessary documents, all in form(s) acceptable to the City Attorney and Bond Counsel; NOW, THEREFORE, BE 1T 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 award the conveyances with affordable/workforce rental housing restrictions and reverter provisions, certain Parcels described in Attachment "A," attached and incorporated, respectively to the Developers for the development of affordable/workforce rental housing in accordance with Section 29-B(a) of the City Charter. Section 3, The City Manager is further authorized' to negotiate and execute the Agreement(s), in form(s) acceptable to the City Attorney and Bond Counsel, for each such Parcel, and any and all other necessary documents, in a form acceptable to the City Attorney and Bond Counsel, for said purpose to convey the respective Parcels to the Developers and in compliance with the requirements under the U.S. Internal Revenue Code of 1986, as ameridedk Section 4. This Resolution shall become effective immediately upon its adoption_ and f r.) 'The herein authorization is further subject to compliance with all requirements that many,' e imposed by the City Attorney, including but not limited to, those prescribed by applicabfeCity Charter and City Code provisions. City of Miami Page 2 of 3 File ID: 2760 (Revision: A) Printed on: 1/31/2019 File ID: 2760 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Enactment Number: R-17-0512 signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ndez, Ity ttor ey 9/19/2017 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 3 of 3 File 1D: 2760 (Revision: A) Printed on: 1/31/2019 City of Miami Legislation Resolution File Number: 2760 SUBSTITUTED City Han 3500 Pan American Drive Miami, FL 33133 www. miamigov,com Final Action Date. A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE CITY MANAGER TO CONVEY, WITH PARCEL REVERT PROVISIONS, CERTAIN CITY OF MIAMI ("CITY") OWNED PARCELS OF L' 1D LOCATED BETWEEN NORTHWEST 13TH AND 15TH STREET AND NO- HWEST 61 ST AND 62ND AVENUE, MIAMI, FLORIDA, TO THE DEVELOPERS P SCRIBED IN "ATTACHMENT "A," ATTACHED AND INCORPORATED, AFTER SPONDING TO A REQUEST FOR PROPOSALS ISSUED NOVEMBER 21, 201► :Y THE CITY OF MIAMI DEPARTMENT OF COMMUNITY AND ECONOMIC DEV• OPMENT FOR THE DEVELOPMENT OF AFFORDABLE/WORKFORCE RENTAL . *USING IN ACCORDANCE WITH SECTION 29-B(A) OF THE CHART OF THE CITY OF MIAMI, FLORIDA, AS AMENDED; FURTHER AUTHORI G THE CITY MANAGER TO EXECUTE A PURCHASE AND SALE AGREEMEN S), IN SUBSTANTIALLY THE ATTACHED FORM(S), AND ANY AND ALL NECES RY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR ID PURPOSE. WHEREAS, on November 21, 2016, the y of Miami ("City') issued a Request for Proposals ("RFP") inviting qualified private real • state developers to propose developments of Affordable/Workforce rental housing on City ned land; and WHEREAS, a total of six (6) res••nses were received, two (2) of which met the minimum threshold and fulfilled all th; sroposal requirements: Atlantic Pacific Communities, LLC and Centennial Management, Cor. (collectively, "Developers"); and WHEREAS, the City A - inistratlon is recommending the conveyance of the City -owned properties located between northwest 13th and 15th street and Northwest 61st and 62nd Avenue, Miami, Florida, I*ally described in Attachment "A," attached and incorporated, ("Parcels") with revert- provisions to the Developers; and WHERE , the reverter provisions contained in the conveying instruments require the Parcels to reve to the City if (i) the developments are not completed within twenty-four (24) ,W months of th date of closing as evidenced by a Certificate of Occupancy, which may be amended the Director of the Department of Community and Economic Development r ("Direc ') and (ii) the developments are not solely used for low to moderate household incorine hous g; and WHEREAS, the Parcels shall be for the development of Affordable/Workforce rental housing in accordance with Section 29-B(a) of the Charter of the City of Miami, Florida'; 'as amended ("City Charter"); and WHEREAS, the Parcels shall be conveyed through purchase and sale agreements ("Agreements'), in substantially the attached form; and WHEREAS, the City shall require the following in order to convey the Parcels to the Developers: (i) evidence satisfactory to the Director that financial commitments from the lender or lenders have been received, (ii) any mortgages obtained by the Developers on the Parcels will be subject to the approval of the Director, and (iii) the closing of the Parcels occurs simultaneously with the closing of the construction financing by the lender, if any; SUBSTITUTED 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 convey, with reverter provisions, ce . in Parcels to the Developers described in Attachment "A," attached and incorporated, for t development of Affordable/Workforce rental housing in accordance with Section 29-B .) of the City Charter. Section 3. The City Manager is authorized' to execute the Agreement(s) n substantially the attached forms), and any and all other documents, in a form acceptable t► the City Attorney, for said purpose. Section 4. This Resolution shall become effective immediately u signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: n its adoption and 1 T herein authorization is further subject to compliance with all requirements that may be imposed by t City Attorney, including but not limited to, those prescribed by applicable City Charter and City Cade rovisions. 2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (1O) 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.