HomeMy WebLinkAboutExhibit BCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Arthur Noriega V.,
City Manager
FROM: George Mensah, Director
Dpt. of Housing and Community Development
DATE: January 30, 2023 FILE:
SUBJECT: Transfer of City owned property
to MLKEDC
BACKGROUND
On 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-
754 NW 70 Street, Miami, Florida, consisting of two-story building for the implementation of
affordable housing for low-income persons.
On August 10, 2012, the City of Miami Housing Commercial Loan Committee ("HCLC") approved
the change of ownership from LCCEDC to Liberty City 70th Street LLC
On October 26, 2020, the City of Miami filed a complaint at the Circuit Court of the 11th Judicial
Circuit in and For Miami -Dade, Florida to foreclose on its mortgage due to non-compliance with
the terms of the loan documents executed between the City and Liberty 70th Street LLC.
On October 7, 2021, the City took control of the property through a Certificate of Sale awarded
pursuant to the foreclosure action filed at the Circuit Court of the Eleventh Judicial Circuit in
Miami -Dade County, Florida.
On January 18, 2023, MLKEDC submitted a Letter of Interest for ownership of the properties and
to manage the properties.
MLKEDC is a non-profit organization in the community that can manage and operate the
properties as affordable housing development.
MLKEDC will maintain the property for use as rental housing to City residents at or below 80% of
area median income as stipulated by the U. S. Department of Housing and Urban Development
("HUD") annually for thirty years (30) from the date of transfer.
RECOMMENDATION
Considering the above stated, approval of a waiver of the formal requirements of competitive
sealed bidding methods as not being practicable or advantageous to the City as set forth in the
City Code of Ordinance, as amended, specifically Section 18-85 (A), and the affirmation of these
written findings and the forwarding of the same to the City Commission for ratification by a four -
fifths vote is respectfully requested.
APPROVED: ❑ DISAPPROVAL:
Arthur Noriega V., City Manager