Loading...
HomeMy WebLinkAboutAgenda Item Cover PageAGENDA ITEM COVER PAGE File ID: #5962 Resolution Sponsored by: Commissioner Ken Russell A RESOLUTION OF THE MIAMI CITY COMMISSION ACCEPTING ALL FUNDS AGREED TO OR AWARDED AS SANCTIONS, AFTER ATTORNEYS' FEES AND COSTS ("FUNDS"), IN THE CASES OF: THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS JOSEPH BEHR, ET AL. CASE NUMBER CACE 11023871 DIV11, THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS VICKY LEE GRUSBY, ET AL. CASE NUMBER CACE 11021448 DIV11, AND THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS RICHARD VON HOUTMAN, ET AL. CASE NUMBER CACE 08031773 DIV11; ESTABLISHING A SPECIAL REVENUE ACCOUNT ENTITLED "AFFORDABLE HOUSING PROCEEDS FUND" IN ORDER TO RECEIVE THE FUNDS; DIRECTING THE CITY MANAGER TO DEVELOP A FRAMEWORK IN ORDER TO UTILIZE OR DISTRIBUTE THE FUNDS TO CREATE AFFORDABLE HOUSING THROUGHOUT THE CITY OF MIAMI AND THE STATE OF FLORIDA. City of Miami Legislation Resolution Enactment Number: R-19-0195 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 5962 Final Action Date:5/23/2019 A RESOLUTION OF THE MIAMI CITY COMMISSION ACCEPTING ALL FUNDS AGREED TO OR AWARDED AS SANCTIONS, AFTER ATTORNEYS' FEES AND COSTS ("FUNDS"), IN THE CASES OF: THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS JOSEPH BEHR, ET AL. CASE NUMBER CACE 11023871 DIV11, THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS VICKY LEE GRUSBY, ET AL. CASE NUMBER CACE 11021448 DIV11, AND THE BANK OF NEW YORK MELLON, F/K/A THE BANK OF NEW YORK, AS TRUSTEE, VS RICHARD VON HOUTMAN, ET AL. CASE NUMBER CACE 08031773 DIV11; ESTABLISHING A SPECIAL REVENUE ACCOUNT ENTITLED "AFFORDABLE HOUSING PROCEEDS FUND" IN ORDER TO RECEIVE THE FUNDS; DIRECTING THE CITY MANAGER TO DEVELOP A FRAMEWORK IN ORDER TO UTILIZE OR DISTRIBUTE THE FUNDS TO CREATE AFFORDABLE HOUSING THROUGHOUT THE CITY OF MIAMI AND THE STATE OF FLORIDA. WHEREAS, the City of Miami ("City") is a national leader in holding major banks accountable for improper actions in their handling of mortgage loans; and WHEREAS, the City has sued Bank of America, Wells Fargo, J. P. Morgan Chase and Citibank (collectively "Banks") for violations of the Fair Housing Act seeking damages caused to the City as a result of discriminatory loans resulting in foreclosures; and WHEREAS, the litigation against the Banks has been fought to the United States Supreme Court and has resulted in a new law helping local governments to address issues relating to housing in their communities; and WHEREAS, the improper actions of the Banks that resulted in foreclosures have significantly harmed the City, the State of Florida, as well as other communities across the nation; and WHEREAS, the harm caused by the improper actions includes, but is not limited to, reducing the availability of affordable housing; and WHEREAS, legal counsel for numerous parties seeking major sanctions in the Circuit Court, Seventeenth Judicial Circuit in and for Broward County, Florida, against Bank of America, The Bank of New York Mellon and their legal counsel, Liebler, Gonzalez and Portuando, for obstruction of justice, destroying evidence, defying court orders, forgery, perjury and violations of Florida's Racketeering and Corrupt Organizations Act in the foreclosure process and litigation related thereto has committed to tender to the City, for the purpose of advancing affordable housing, all funds agreed to or awarded as sanctions, after attorneys' fees and costs ("Funds"), in the cases of: The Bank of New York Mellon, f/k/a The Bank Of New York, as Trustee, vs Joseph Behr, et al. Case Number CACE 11023871 Div11; The Bank of New York Mellon, f/k/a The Bank of New York, as Trustee, vs Vicky Lee Grusby, et al. Case Number CACE 11021448 Div11; The Bank of New York Mellon, f/k/a The Bank of New York, as Trustee, vs Richard Von Houtman, et al. Case Number CACE 08031773 Div11; and WHEREAS, the affordable housing crisis is a serious issue in the City and the State of Florida that requires substantial additional resources in order to make a significant impact; and WHEREAS, the City has just completed the largest and most comprehensive affordable housing study in its history; and WHEREAS, the City is well prepared to dispense these Funds in a manner that aligns with the needs of the State of Florida; and WHEREAS, the Funds are to be appropriated by separate Resolution(s); and WHEREAS, pursuant to Section 2-33(e) of the Code of the City of Miami, Florida, as amended ("City Code"), the City Commission unanimously deems this Resolution to be of an emergency nature; and WHEREAS, it is appropriate for the City Commission to (i) accept all Funds in the cases of The Bank of New York Mellon, f/k/a The Bank of New York, as trustee, vs Joseph Behr, et al. case number CACE 11023871 DIV11; The Bank of New York Mellon, f/k/a The Bank of New York, as trustee, vs Vicky Lee Grusby, et al. case number CACE 11021448 DIV11; The Bank of New York Mellon, f/k/a The Bank of New York, as trustee, vs Richard Von Houtman, et al. case number CACE 08031773 DIV11, (ii) establish a special revenue account entitled "Affordable Housing Proceeds Fund" in order to receive the Funds, and (iii) direct the City Manager to develop a framework in order to utilize or distribute the Funds to create affordable housing throughout the City of Miami as well as the State of Florida; 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 accept all Funds agreed to or awarded as sanctions, after attorneys' fees and costs, in the cases of: The Bank of New York Mellon, f/k/a The Bank Of New York, as Trustee, vs Joseph Behr, et al. Case Number CACE 11023871 Div11; The Bank of New York Mellon, f/k/a The Bank of New York, as Trustee, vs Vicky Lee Grusby, et al. Case Number CACE 11021448 Div11; The Bank of New York Mellon, f/k/a The Bank of New York, as Trustee, vs Richard Von Houtman, et al. Case Number CACE 08031773 Div11. Section 3. The special revenue account, entitled "Affordable Housing Proceeds Fund," is hereby established in order to receive the Funds. Section 4. The City Manager is directed to develop a framework to utilize or distribute the Funds to create affordable housing throughout the City and the State of Florida. 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. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ndez, City Attor ey 5/23/2019 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.