HomeMy WebLinkAboutResolutionCity of Miami
Resolution
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 12068 Final Action Date: 1/12/2023
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, AUTHORIZING THE CITY MANAGER TO
CONVEY, WITH AFFORDABLE HOUSING RESTRICTIONS AND AUTOMATIC
REVERTER PROVISIONS, THE CITY OF MIAMI-OWNED PROPERTIES
LOCATED AT 1755 NORTHWEST 2 COURT AND 6245 NORTHWEST 1
COURT, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN
EXHIBIT "A," ATTACHED AND INCORPORATED, TO SMV CAPITAL GROUP
LLC, A FLORIDA LIMITED LIABILITY COMPANY, FOR THE DEVELOPMENT
OF AFFORDABLE HOMEOWNERSHIP HOUSING; 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 April 2021, SMV Capital Group LLC, a Florida limited liability company
("Developer"), submitted a letter of interest to the City of Miami ("City") for the development of
affordable homeownership housing; and
WHEREAS, the Developer proposes the development of affordable homeownership
housing, which shall be available for eligible residents whose annual income is at or below
eighty percent (80%) of area median income, as published annually by the United States
Department of Housing and Urban Development; and
WHEREAS, the affordable housing restrictions and automatic reverter provisions
contained in the conveying instrument(s) shall require that 1755 Northwest 2 Court and 6245
Northwest 1 Court, Miami, Florida, as more particularly described in Exhibit "A," attached and
incorporated (collectively, "Properties"), to automatically revert to the City if (i) the Properties are
not fully developed within twenty-four (24) months of the date of closing as evidenced by a
Certificate of Occupancy, where the twenty-four (24) month requirement may be amended by
the Director of the Department of Housing and Community Development ("Director") by a written
communication and (ii) the Properties are not solely used for affordable homeownership
housing; and
WHEREAS, the Properties will be conveyed through purchase and sale agreements
("Agreements") and quit claim deeds; and
WHEREAS, to convey said Properties, the City must receive from the Developer (i)
evidence that the Developer has received all necessary permits needed to construct the units,
(ii) evidence that financial commitments from the lender(s) have been received, (iii) any
mortgages obtained by the Developer on the Properties will be subject to the approval of the
City of Miami Page 1 of 2 File ID: 12068 (Revision: A) Printed On: 6/24/2025
File ID: 12068 Enactment Number:
Director in writing, and (iv) the closing/execution of the Agreements will occur simultaneously
with the closing of the construction financing by the lender(s), if any; and
WHEREAS, Section 29-B(a) of the Charter of the City of Miami, Florida, as amended
("City Charter"), provides for the waiver of competitive bidding and other requirements when
"conveying properties to implement housing programs or projects which are intended to
benefit persons or households with low and/or moderate income, the criteria of which to be
provided for by federal and/or state law or by the City Commission"; and
WHEREAS, the City's Administration recommends the conveyance, with affordable
housing restrictions and automatic reverter provisions, of the Properties to the Developer for the
development of affordable homeownership housing;
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. Pursuant to Section 29-B(a) of the City Charter, the City Manager is
authorized' to convey, with affordable housing restrictions and automatic reverter provisions, the
City -owned Properties to the Developer for the development of affordable homeownership
housing.
Section 3. The City Manager is 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.
APPROVED AS TO FORM AND CORRECTNESS:
ndez, City ttor ey 6/24/2022
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.
City of Miami Page 2 of 2 File ID: 12068 (Revision: A) Printed on: 6/24/2025