HomeMy WebLinkAboutResolutionCity of Miami
Resolution
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 10635 Final Action Date: 5/12/2022
MAY BE WITHDRAWN
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
PURSUANT TO SECTION 29-B(A) OF THE CHARTER OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED, CONVEYING, WITH AFFORDABLE
HOUSING RESTRICTIONS AND AUTOMATIC REVERTER PROVISIONS,
CITY OF MIAMI-OWNED PROPERTIES LOCATED AT 750 NORTHWEST 70
STREET AND 754 NORTHWEST 70 STREET, MIAMI, FLORIDA, ALL AS
LEGALLY DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED
(COLLECTIVELY, "PROPERTIES"), TO TACOLCY ECONOMIC
DEVELOPMENT CORPORATION, INC., A FLORIDA NOT FOR PROFIT
CORPORATION, FOR THE REHABILITATION AND UTILIZATION OF THE
PROPERTIES EXCLUSIVELY FOR AFFORDABLE HOUSING FOR LOW-
INCOME PERSONS; FURTHER AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS,
INCLUDING AMENDMENTS, EXTENSIONS, AND MODIFICATIONS, ALL IN
FORMS ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE.
WHEREAS, in December 2011, Liberty City Community Economic Development
Corporation ("LCCEDC") executed a loan with the City of Miami ("City") for the acquisition of the
properties located at 750 and 754 Northwest 70 Street, Miami, Florida, as more particularly
described in Exhibit "A", attached and incorporated (collectively "Properties"), consisting of two-
story buildings for the implementation of affordable housing for low-income persons; and
WHEREAS, on August 10, 2012, the City's Housing Commercial Loan Committee
("HCLC") approved the change of ownership from LCCEDC to Liberty City 70th St LLC ("70th
St"); and
WHEREAS, on October 26, 2020, the City filed a complaint in the Circuit Court of the
11th Judicial Circuit in and for Miami -Dade County, Florida to foreclose on its mortgage due to
non-compliance with the terms of said loan by 70th St; and
WHEREAS, the foreclosure action was completed and the City obtained title to the
Properties through a certificate of title; and
WHEREAS, the City has selected a non-profit organization in the community that is
capable of managing and operating the Properties as affordable housing developments; and
WHEREAS, Tacolcy Economic Development Corporation, Inc. ("Tacolcy") is a non-profit
and community -based organization founded in 1983 to undertake a comprehensive program of
housing and community development in the Liberty City community; and
City of Miami Page 1 of 3 File ID: 10635 (Revision:) Printed On: 6/12/2025
File ID: 10635 Enactment Number:
WHEREAS, Tacolcy has developed various affordable housing developments within the
City and Miami -Dade County utilizing federal funding and is currently in good standing with the
City; and
WHEREAS, the conveyance of the Properties shall be subject to the following
restrictions: (i) Tacolcy must make all necessary repairs to the Properties in order to bring them
into full compliance with the Code of the City of Miami, Florida, as amended ("City Code"), within
two (2) years of the conveyance, which requirement may be amended by the Director of the
City's Department of Housing and Community Development ("Director"), (ii) any mortgages on
the Properties obtained by Tacolcy shall be subject to the prior written approval of the Director,
and (iii) the Properties must continue to be made affordable to low income residents for thirty
(30) years from the date of the conveyance ("Term"); and
WHEREAS, in the event that the Properties are no longer affordable to low income
residents during the Term, the Properties shall automatically revert to the City; and
WHEREAS, the City's Administration recommends the conveyance of the Properties to
Tacolcy with affordable housing restrictions and automatic reverter provisions pursuant to
Section 29-B(a) of the Charter of the City of Miami, Florida, as amended ("City Charter"), for the
continuing use of providing affordable housing for low-income persons;
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', pursuant to Section 29-B(a) of the City
Charter, to convey, with affordable housing restrictions and automatic reverter provisions, the
Properties to Tacolcy for the rehabilitation and utilization of the Properties exclusively for
affordable housing for low income persons.
Section 3. The City Manager is further authorized' to negotiate and execute any and all
necessary documents, including amendments, extensions, and modifications, all in forms
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
1 The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to those prescribed by applicable City Charter and City 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.
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File ID: 10635 Enactment Number:
APPROVED AS TO FORM AND CORRECTNESS:
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