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Home My WebLink AboutO-14352City of Miami Ordinance 14352 Legislation City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 15956 Final Action Date: 2/13/2025 AN ORDINANCE OF THE MIAMI CITY COMMISSION AMENDING CHAPTER 62/ARTICLE XIV/SECTION 62-644 — 62-645 OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, TITLED "PLANNING AND ZONING/PUBLIC BENEFITS TRUST FUND/NRD-1 PUBLIC BENEFITS TRUST FUND; INTENT." AND "PLANNING AND ZONING/PUBLIC BENEFITS TRUST FUND/ESTABLISHED," TO PROVIDE FOR THE TRANSFER OF NRD-1 PUBLIC BENEFITS TRUST FUNDS COLLECTED BY THE CITY OF MIAMI ("CITY") FINANCE DEPARTMENT ("FINANCE") TO A QUALIFIED PUBLIC DEPOSITORY HELD BY THE WYNWOOD BUSINESS IMPROVEMENT DISTRICT ("BID"), ALLOWING FOR THE INVESTMENT OF NRD-1 PUBLIC BENEFITS TRUST FUNDS COLLECTED PURSUANT TO THE CITY'S INVESTMENT POLICY AND SECTION 218.415, FLORIDA STATUTES, PROVIDING FOR THREE (3) YEAR TERMS FOR NRD-1 PUBLIC BENEFITS TRUST FUND COMMITTEE MEMBERS, CLARIFYING THAT THIRTY-FIVE PERCENT (35%) OF TOTAL NRD-1 PUBLIC BENEFITS TRUST FUNDS COLLECTED SHALL BE ALLOCATED TOWARDS AFFORDABLE HOUSING, AND LIMITING FUNDING TO AFFORDABLE HOUSING PROJECTS WHERE AT LEAST FIFTY-ONE PERCENT (51%) OF THE UNITS PROVIDED ARE RESTRICTED TO A PERSON OR HOUSEHOLDS WITH INCOME AT OR BELOW EIGHTY PERCENT (80%) OF THE MEDIAN INCOME FOR MIAMI- DADE COUNTY, FLORIDA, AS DETERMINED BY THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT; CONTAINING A SEVERABILITY CLAUSE AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, on December 10, 2022, the City Commission adopted Ordinance No. 13582 establishing the NRD-1 Public Benefits Trust Fund for the purpose of encouraging reinvestment in infrastructure and seeking other creative solutions to create parks, open space, civic space, and civil support uses to allow for and facilitate new residential uses within the NRD-1 boundaries; and WHEREAS, in furtherance of the intent of Ordinance No. 13582, on December 22, 2022, the NRD-1 Public Benefits Trust Fund Committee allocated Three Million Five Hundred Thousand Dollars ($3,500,000.00) to the Wynwood Works Project which will provide one hundred twenty (120) affordable housing units to individuals earning thirty percent (30%) area median income ("AMI"), and households earning between fifty percent (50%) and eighty (80%) AMI; and WHEREAS, there are other NRD-1 Public Benefits Trust Fund projects proposed or being considered; and City of Miami Page 1 of 3 File ID: 15956 (Revision: A) Printed On: 8/12/2025 File ID: 15956 Enactment Number: 14352 WHEREAS, there are certain process improvements and efficiencies that can be implemented to improve the evaluation, approval, and funding of eligible projects; and WHEREAS, the Wynwood Business Improvement District ("BID") reviewed and recommended approval of the following amendment to the NRD-1 Public Benefits Trust Fund at its April 2, 2024, regular BID Board meeting; NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Ordinance are adopted by reference and incorporated as if fully set forth in this Section. Section 2. Chapter 62, Article XIV of the Code of the City of Miami, Florida, as amended, is amended in the following particulars:1 "CHAPTER 62 PLANNING AND ZONING ARTICLE XIV. PUBLIC BENEFITS TRUST FUND * * * Sec. 62-644. NRD-1 Public benefits trust fund; intent. It is intended that the "NRD-1 Public Benefits Trust Fund" be established in order to collect cash contributions made according to the NRD-1 as established in the Miami 21 Code, as amended, the zoning ordinance of the city, to support reinvestment and supplement affordable/workforce housing, public parks and open space, and civic space or civil support space within the NRD-1 boundaries. Sec. 62-645. Established. (a) There is hereby established a trust fund to be entitled the "NRD-1 Public Benefits Trust Fund," into which funds shall be deposited pursuant to this article. (b) Upon receipt of funds for any project within the NRD-1 boundaries, the city's department of finance shall deposit transfer such funds into the NRD-1 Public benefits trust fund. The NRD- 1 Public benefits trust fund shall be a qualified public depository held by the Business Improvement District ("BID"). The BID may invest surplus funds pursuant to the City's investment policy and Section 218.415, Florida Statutes. (c) The Wynwood Busine-c Improvement District ("BID shall, through a five -member committee of the BID to be formed on an annual basis each fiscal year, of which one member shall be directly appointed by the city commissioner from District 5, one member shall be 1 Words/and or figures stricken through shall be deleted. Underscored words and/or figures shall be added. The remaining provisions are now in effect and remain unchanged. Asterisks indicate omitted and unchanged material. City of Miami Page 2 of 3 File ID: 15956 (Revision: A) Printed on: 8/12/2025 File ID: 15956 Enactment Number: 14352 directly appointed by the city commissioner from District 2, one member shall be appointed by the city commission, and two members shall be appointed by the BID Board and submitted to the city commission for confirmation, allocate within the NRD-1 boundaries funds collected for purposes consistent with section 62-644. The committee members shall serve three (3) year terms. Expenditure of funds and any actions in furtherance of the expenditure shall be consistent with the powers and duties of the BID, comply with city procedures for the acquisition of goods and services, and approved within the annual budget of the BID by the city commission. (d) A minimum of thirty-five percent (35°1 percent of funds collected in the NRD-1 Public benefits trust fund shall be allocated towards affordable/workforce housing on an annual basis, and shall be expended pursuant to guidelines and procedures established by the city commission. At least fifty-one percent (51 %) of the units provided by any affordable housing project awarded funds from the NRD-1 Public benefits trust fund shall be restricted during the affordability period for a person or households with income at or below eighty percent (80%) of the median income for Miami -Dade County, Florida, as determined by the U.S. Department of Housing and Urban Development. (e) The NRD-1 Public benefits trust fund shall be established for a period of time commensurate with the Wynwood Business Improvement DistrictBID as set forth in section 2- 1316, and thereafter shall be reviewed by the city commission every three years to determine whether the purposes of the NRD-1 Public benefits trust fund have been satisfied, and upon such finding, the NRD-1 Public benefits trust fund shall sunset and any funds to be collected and allocated, pursuant to this article and according to the Miami 21 Code, shall revert to the Public benefits trust fund, as established in section 62-641 of the City Code. *„ Section 3. If any section, part of section, paragraph, clause, phrase, or word of this Ordinance is declared invalid, the remaining provisions of this Ordinance shall not be affected. Section 4. This Ordinance shall become effective ten (10) days from the date of adoption by the City Commission.2 APPROVED AS TO FORM AND CORRECTNESS: 4/30/2024 ng III, C ty ttor ey 12/17/2024 2 This Ordinance shall become effective as specified herein unless vetoed by the Mayor within ten (10) days from the date it was passed and adopted. If the Mayor vetoes this Ordinance, it shall become effective immediately upon override of the veto by the City Commission or upon the effective date stated herein, whichever is later. City of Miami Page 3 of 3 File ID: 15956 (Revision: A) Printed on: 8/12/2025