HomeMy WebLinkAboutR-17-0512City of Miami
Resolution R-17-0512
Legislation
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 AFFORDABLE/WORKFORCE 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, AND 1500 NORTHWEST 62 STREET, 1305, 1321, 1331,
1341, AND 1361 NORTHWEST 61 STREET, AND 6240 NORTHWEST 15
AVENUE, MIAMI, FLORIDA, AS MORE PARTICULARLY 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 CHARTER OF THE CITY OF MIAMI, FLORIDA, AS
AMENDED; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE
AND EXECUTE, IN FORMS ACCEPTABLE TO THE CITY ATTORNEY AND
BOND COUNSEL, PURCHASE AND SALE AGREEMENTS FOR EACH SUCH
PARCEL AND ANY AND ALL OTHER NECESSARY DOCUMENTS TO
CONVEY THE RESPECTIVE PARCELS TO THE DEVELOPERS AND IN
COMPLIANCE WITH THE REQUIREMENTS UNDER THE U.S. INTERNAL
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 recommends awarding the conveyances 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, some of the properties 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
City of Miami Page 1 of 3 File ID: 2760 (Revision: A) Printed On: 3/25/2025
File ID: 2760 Enactment Number: R-17-0512
Developers to the City, as applicable, in order to comply with continuing requirements of the
U.S. Internal Revenue Code of 1986, as amended; and
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 or Temporary Certificate of Occupancy, which may be amended by the Director of
the Department of Housing and Community 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 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 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 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 authorized1 to award the conveyances with
affordable/workforce rental housing restrictions and reverter provisions of certain Parcels as
more particularly 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 authorized1 to negotiate and execute the
Agreement(s) and any and all other necessary documents, all in form(s) acceptable to the City
Attorney and Bond Counsel, to convey the respective Parcels to the Developers and in
compliance with the requirements under the U.S. Internal Revenue Code of 1986, as amended.
Section 4. This Resolution shall become effective immediately upon its adoption and
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 City Code provisions.
City of Miami Page 2 of 3 File ID: 2760 (Revision: A) Printed on: 3/25/2025
File ID: 2760
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
Enactment Number: R-17-0512
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 ID: 2760 (Revision: A) Printed on: 3/25/2025