HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-24-0472
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16870 File Type: Resolution
Revision:
File Name: ARPA Allocation — Assignment and Assumption of
ARPA Loan to DFI Mundy LLC
Requesting Dept: Commissioners and Mayor
Status: ADOPTED
Controlling Body: City Commission
Introduced: 10/30/2024
Final Action Date: 11 /21 /2024
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ASSIGNMENT AND ASSUMPTION OF A FORGIVABLE LOAN IN
AN AMOUNT NOT TO EXCEED TWO MILLION AND 00/100 DOLLARS ($2,000,000.00)
IN AMERICAN RESCUE PLAN ACT OF 2021 ("ARPA") FUNDS ("ARPA LOAN")
ORIGINALLY WITH CASA VALENTINA, INC. ("ORIGINAL DEVELOPER"), A FLORIDA
NON -FOR -PROFIT ORGANIZATION, TO DFI MUNDY, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("DFI MUNDY"), TO DEVELOP TWO (2) FOUR-PLEXES ON THE
PARCELS DESCRIBED IN EXHIBIT "C," ATTACHED AND INCORPORATED, ON
WHICH DFI MUNDY WILL CAUSE TO BE CONSTRUCTED A NEW AFFORDABLE
HOUSING DEVELOPMENT TO BE KNOWN AS "DFI MUNDY AFFORDABLE
HOUSING" ("NEW PROJECT") THAT WILL CONTAIN NO FEWER THAN EIGHT (8)
CITY -ASSISTED RESIDENTIAL RENTAL UNITS FOR ELIGIBLE RESIDENTS WITH
ANNUAL INCOME EQUAL TO OR LESS THAN EIGHTY PERCENT (80%) OF AREA
MEDIAN INCOME AS PUBLISHED ANNUALLY BY THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT ("AMI"), AS FURTHER
DESCRIBED IN EXHIBIT "B," PROVIDED THAT DFI MUNDY FULFILLS ANY AND ALL
TERMS AND CONDITIONS SET FORTH HEREIN, IN THE CITY OF MIAMI ("CITY")
HOUSING AND COMMERCIAL LOAN COMMITTEE APPROVAL ("HCLC APPROVAL"),
THE CITY'S ARPA CONSULTANT APPROVAL ("CONSULTANT APPROVAL"), AND
COMPLIANCE WITH ALL APPLICABLE FEDERAL, STATE OF FLORIDA, LOCAL, AND
CITY LAWS, RULES, AND REGULATIONS FOR AFFORDABLE HOUSING PROJECTS
("LAWS"); FURTHER AUTHORIZING AND DIRECTING THE CITY MANAGER TO RE-
ALLOCATE EXISTING FUNDING IN THE FORM OF A LOAN ASSIGNMENT AND
ASSUMPTION IN AN AMOUNT NOT TO EXCEED TWO MILLION AND 00/100
DOLLARS ($2,000,000.00) IN ARPA FUNDS FOR THE NEW PROJECT; FURTHER
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL
NECESSARY DOCUMENTS, INCLUDING, BUT NOT LIMITED TO, AMENDMENTS,
EXTENSIONS, AND MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY
ATTORNEY; PROVIDING FOR AN EFFECTIVE DATE.
Sponsor(s): Commissioner Damian Pardo
Notes:
Pursuant to the resolution, this item became effective immediately upon adoption by the
Commission.
Links:
Attachments:
16870 Exhibit B
16870 Exhibit C
16870 Exhibit D
16870 Exhibit E
16870 Exhibit A (PDF)
(PDF)
(PDF)
(PDF)
(PDF)
History of Legislative File:
City of Miami Page 1 of 2 Printed on: 8/11/2025
City of Miami
Master Report
Enactment Number: R-24-0472
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Revision: Acting Body: Date: Action: Result:
Legislative Division 11/6/2024 Legislative Division Review Completed
Xavier Alban 11/12/2024 ACA Review Completed
Donovan Dawson 11/12/2024 Budget Analyst Review Completed
Marie Gouin 11/12/2024 Budget Review Completed
George K. Wysong III 11/12/2024 Approved Form and Completed
Correctness
City Commission 11/21/2024 Meeting Completed
City Commission 11/21/2024 ADOPTED Passed
City Clerk's Office 12/20/2024 Rendered Completed
City of Miami Page 2 of 2 Printed on: 8/11/2025