HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-23-0343
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 14336
Revision: A
File Name: Yaeger Plaza Development Funding
Requesting Dept: Commissioners and Mayor
File Type: Resolution Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 7/18/2023
Final Action Date: 7/27/2023
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING FUNDING ON A REIMBURSEMENT BASIS TO YAEGER PLAZA
PARTNERS, LLC, A FLORIDA LIMITED LIABILITY COMPANY ("DEVELOPER"), IN AN
AMOUNT NOT TO EXCEED THREE MILLION AND 00/100 DOLLARS ($3,000,000.00)
FROM THE PROPOSED TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING
LIMITED AD VALOREM BONDS FOR THE DEVELOPMENT OF THE AFFORDABLE
HOUSING PROJECT CONSISTING OF AN EIGHT (8) STORY MIXED -INCOME, MIXED
USE DEVELOPMENT THAT WILL PROVIDE SIXTY-EIGHT (68) CITY -ASSISTED
UNITS RANGING FROM FIFTY PERCENT (50%) AREA MEDIAN INCOME, AS
PUBLISHED ANNUALLY BY THE UNITED STATES DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT ("AMI") TO ONE HUNDRED FORTY PERCENT (140%) AMI
TO BE KNOWN AS "YAEGER PLAZA" BEING DEVELOPED BY THE DEVELOPER;
SUCH ALLOCATION MUST BE IN COMPLIANCE WITH THE HOUSING AND
COMMERCIAL LOAN COMMITTEE ("HCLC") MEMORANDUM, IN SUBSTANTIALLY
THE ATTACHED FORM AND INCORPORATED AS EXHIBIT "A" AND SUBJECT TO
HCLC APPROVAL, AND ALL APPLICABLE FEDERAL, STATE OF FLORIDA, LOCAL,
AND CITY OF MIAMI ("CITY") LAWS, RULES, AND REGULATIONS FOR
AFFORDABLE HOUSING PROJECTS, INCLUDING BUT NOT LIMITED TO THE CITY'S
AFFORDABLE HOUSING BONDS PROJECTS STRATEGIES, THE TRANCHE 2
AFFORDABLE HOUSING INTENT TO REIMBURSE RESOLUTION, AND THE
TRANCHE 2 MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM
BONDS; 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 AND
BOND COUNSEL, FOR SAID PURPOSE, SUBJECT TO HCLC APPROVAL;
PROVIDING FOR AN EFFECTIVE DATE.
Sponsor(s): Commissioner Christine King
Notes:
Pursuant to the resolution, this item became effective immediately upon adoption by the
Commission.
Links:
Attachments: 14336 Exhibit A -SUB (PDF)
14336 Legislation -SUB (PDF)
History of Legislative File:
Revision: Acting Body: Date:
Action: Result:
Legislative Division
Xavier Alban
7/18/2023
7/18/2023
Legislative Division Review Completed
ACA Review Completed
City of Miami Page 1 of 2 Printed on: 7/10/2025
A
A
A
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Donovan Dawson
Marie Gouin
City Commission
City Commission
Legislative Division
Xavier Alban
Victoria Mendez
City Clerk's Office
City of Miami
Master Report
Enactment Number:
7/18/2023
7/18/2023
7/27/2023
7/27/2023
7/31/2023
8/8/2023
8/10/2023
8/10/2023
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
R-23-0343
Budget Analyst Review
Budget Review
Meeting
ADOPTED WITH
MODIFICATION(S)
Legislative Division Review
ACA Review
Approved Form and
Correctness with Modification(s)
Rendered
Completed
Completed
Completed
Passed
Completed
Completed
Completed
Completed
City of Miami Page 2 of 2 Printed on: 7/10/2025