HomeMy WebLinkAboutR-25-0066City of Miami
Resolution R-25-0066
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17236 Final Action Date: 2/27/2025
A RESOLUTION OF THE MIAMI CITY COMMISSION AUTHORIZING THE DE -
OBLIGATION OF MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD
VALOREM BOND FUNDS ("MFB FUNDS") IN A TOTAL AMOUNT NOT TO
EXCEED ONE MILLION, EIGHT HUNDRED THOUSAND AND 00/100
DOLLARS ($1,800,000.00) FROM THE FLAGLER VILLAS AFFORDABLE
RENTAL HOUSING PROJECT FOR LOW-INCOME SENIORS LOCATED AT
5215 WEST FLAGLER STREET, MIAMI, FLORIDA ("PROJECT") AND THE
RETURN OF THE DE -OBLIGATED MFB FUNDS TO THE DISTRICT 4
COMMISSIONER'S SHARE, SUBJECT TO ALL FEDERAL, STATE, AND
LOCAL LAWS THAT REGULATE THE USE OF SUCH FUNDS AND THE
RECEIPT OF ALL NECESSARY APPROVALS INCLUDING, BUT NOT LIMITED
TO, THE CITY'S DEPARTMENT OF HOUSING AND COMMUNITY
DEVELOPMENT ("HCD") AND THE CITY'S HOUSING AND COMMERCIAL
LOAN COMMITTEE ("HCLC") APPROVALS; FINDING THAT THE USE,
ALLOCATION, AND APPROPRIATION OF THE MFB FUNDS ARE SUBJECT
TO ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE THE USE
OF SUCH FUNDS AND THE RECEIPT OF ALL NECESSARY APPROVALS,
INCLUDING, BUT NOT LIMITED TO THE CITY ATTORNEY AND BOND
COUNSEL APPROVAL; AUTHORIZING THE CITY MANAGER TO MAKE ANY
CHANGES TO ADJUST, AMEND, AND APPROPRIATE THE CITY'S
OPERATING BUDGET, FIVE-YEAR FINANCIAL PLAN, STRATEGIC PLAN,
AND MULTI -YEAR CAPITAL PLAN, AS NECESSARY AND APPLICABLE,
PURSUANT TO THE PROVISIONS OF THIS RESOLUTION; AUTHORIZING,
RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY
ACTIONS BY THE CITY MANAGER AND THE DESIGNATED CITY
DEPARTMENTS TO UPDATE THE RELEVANT FINANCIAL CONTROLS,
PROJECT CLOSE-OUTS, ACCOUNTING ENTRIES, AND COMPUTER
SYSTEMS IN CONNECTION HEREWITH; AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE, ANY AND ALL DOCUMENTS,
INCLUDING, BUT NOT LIMITED TO, AGREEMENTS, AMENDMENTS,
MODIFICATIONS, AND MEMORANDUM OF UNDERSTANDING, ALL IN
FORMS ACCEPTABLE TO THE CITY ATTORNEY, NECESSARY FOR THE
PURPOSES STATED HEREIN.
SPONSOR(S): Commissioner Manolo Reyes
WHEREAS, pursuant to Resolution No. R-24-0373 adopted on October 28, 2021, the
City Commission allocated funding on a reimbursement basis in an amount not to exceed Three
Million, Nine Hundred Thousand Dollars ($3,900,000.00) in Miami Forever Affordable Housing
Limited Ad Valorem Bond Funds ("MFB Funds") for the development of affordable rental
housing project for low-income seniors located at 5215 West Flagler Street, Miami, Florida
("Project") by 5215 Flagler Street, LLC ("Developer"); and
City of Miami Page 1 of 3 File ID: 17236 (Revision:) Printed On: 8/14/2025
File ID: 17236 Enactment Number: R-25-0066
WHEREAS, on March 28, 2023, the City of Miami's Housing and Commercial Loan
Committee approved awarding One Million, Seven Hundred Thousand and 00/100 Dollars
($1,700,00.00) in HOME Investment Program Partnership funds and Three Million, Nine
Hundred Thousand and 00/100 Dollars ($3,900,000.00) in MFB Funds for the Development of
the Project; and
WHEREAS, pursuant to Resolution No. R-24-0424 adopted on October 24, 2024, the
City accepted Economic Development Incentive ("EDI") - Community Project Funding ("CPF")
grant funds in the amount of Three Million Five Hundred Thousand and 00/100 Dollars
($3,500,000.00) from the United States Department of Housing and Urban Development
("HUD") to fund the Project; and
WHEREAS, due to the various funding sources awarded to the Project, it is in the best
interest of the City to de -obligate One Million, Eight Hundred Thousand and 00/100 Dollars
($1,800,000.00) of the MFB Funds originally awarded to the Project and return the de -obligated
MFB Funds to the District 4 Commissioner's share; and
WHEREAS, any actions authorized and undertaken pursuant to this Resolution shall be
in compliance with all applicable Federal, State of Florida, local, and City laws, rules,
regulations, and procedures, including, but not limited to, the Bonds Strategies, the Intent to
Reimburse Resolution, and the Miami Forever Bond Validation Order, the Charter of the City of
Miami, Florida, as amended ("City Charter"), and the Code of the City of Miami, Florida, as
amended ("City Code") (collectively, "Laws"); and
WHEREAS, any actions authorized and undertaken pursuant to this Resolution shall
receive and be subject to the receipt of any and all necessary approvals including, but not
limited to, City Attorney, Bond Counsel, the City's Department of Housing and Community
Development ("HCD"), the City's Housing and Commercial Loan Committee ("HCLC"), the City's
Office of Management and Budget, and the City's Department of Finance approval, as
applicable;
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. The de -obligation of MFB Funds in a total amount not to exceed One Million,
Eight Hundred Thousand and 00/100 Dollars ($1,800,000.00) from the Project and return of the
de -obligated MFB Funds to the District 4 Commissioner's share is approved,, subject to all
federal, State, and local laws that regulate the use of such funds and the receipt of all necessary
approvals including, but not limited to, HCD and HCLC approvals.
Section 3. The use, allocation, and appropriation of the Miami Forever Affordable
Housing Bond Funds are subject to all federal, State, and local laws that regulate the use of
such funds and the receipt of all necessary approvals, including, but not limited to the City
Attorney and Bond Counsel approval.
Section 4. The City Manager is authorized' to make any changes to adjust, amend, and
appropriate the City's Operating Budget, Five -Year Financial Plan, Strategic Plan, and Multi -
Year Capital Plan, as necessary and applicable, pursuant to the provisions of this Resolution.
City of Miami Page 2 of 3 File ID: 17236 (Revision:) Printed on: 8/14/2025
File ID: 17236 Enactment Number: R-25-0066
Section 5. Certain necessary actions by the City Manager and the designated City
departments to update the relevant financial controls, project close-outs, accounting entries, and
computer systems in connection herewith are hereby authorized,1 ratified, approved, and
confirmed.
Section 6. The City Manager is authorized1 to negotiate and execute any and all
documents, including, but not limited to, agreements, amendments, modifications, and
memorandum of understanding, all in forms acceptable to the City Attorney, necessary for the
purposes stated herein.
Section 7. The City Manager in consultation with the City Attorney, Bond Counsel,
Disclosure Counsel, Financial Advisor, Chief Financial Officer, Finance Director, Budget
Director, and such other appropriate officers, employees, and agents of the City as the City
Manager deems necessary are hereby authorized1 to take such actions as may be necessary to
carry out the purposes of this Resolution.
Section 8. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.'
APPROVED AS TO FORM AND CORRECTNESS:
ge = . Wyy ng III, City ttor -y 2/18/2025
1 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City of Miami Page 3 of 3 File ID: 17236 (Revision:) Printed on: 8/14/2025