HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-25-0104
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17306
Revision: A
File Name: (GPP) 2019 Affordable Housing Pipeline
Requesting Dept: Commissioners and Mayor
File Type: Resolution Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
Introduced: 2/28/2025
Final Action Date: 3/13/2025
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING AND DIRECTING THE CITY MANAGER TO ALLOCATE, UPON THE
FULFILLMENT BY GROVE PROSPERITY PARTNERS, LLC, A FLORIDA LIMITED
LIABILITY COMPANY ("DEVELOPER"), OF ALL OF THE TERMS AND CONDITIONS
SET FORTH IN THE COLLECTIVE MEMORANDA TO THE CITY OF MIAMI'S ("CITY")
HOUSING AND COMMERCIAL LOAN COMMITTEE, ATTACHED AND
INCORPORATED AS COMPOSITE EXHIBIT "A" ("HCLC MEMORANDUM");
ALLOCATING FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT NOT TO
EXCEED FOUR MILLION, TWO HUNDRED TEN THOUSAND AND 00/100 DOLLARS
($4,210,000.00) FROM THE DISTRICT 2 SHARE OF THE MIAMI FOREVER
AFFORDABLE HOUSING LIMITED AD VALOREM BOND TO DEVELOPER, FOR THE
AFFORDABLE HOUSING COMPONENTS OF A MIXED -USE, COMMERCIAL AND
RESIDENTIAL DEVELOPMENT PROJECT TO BE CONSTRUCTED AND LOCATED AT
3655 GRAND AVENUE, 3659 GRAND AVENUE, AND 3650 FLORIDAAVENUE, TO BE
KNOWN AS "GROVE BAHAMAS PLACE" ("PROJECT"), PROVIDED THAT THE
DEVELOPER FULFILLS ALL OF THE TERMS AND CONDITIONS SET FORTH IN THE
HCD/HCLC APPROVALS, WHICH SHALL BE CONSISTENT WITH THE CITY
COMMISSION APPROVAL; SUCH ALLOCATION TO BE IN COMPLIANCE WITH ALL
APPLICABLE FEDERAL, STATE OF FLORIDA, LOCAL, AND CITY LAWS, RULES, AND
REGULATIONS FOR AFFORDABLE HOUSING PROJECTS, INCLUDING, BUT NOT
LIMITED TO, THIS RESOLUTION, THE BONDS STRATEGIES, ANY APPLICABLE
INTENT TO REIMBURSE RESOLUTION, THE HCLC MEMORANDUM, AND THE MIAMI
FOREVER BOND VALIDATION ORDER (COLLECTIVELY, "LAWS"); DECLARING THE
OFFICIAL INTENT OF THE CITY OF MIAMI ("CITY") TO ISSUE BOTH TAXABLE AND
TAX-EXEMPT GENERAL OBLIGATION BONDS, IN ONE OR MORE SERIES, PAYABLE
FROM AD VALOREM TAXES PROVIDED THAT THE CAPITAL PROJECTS DEBT
MILLAGE NOT EXCEED THE RATE OF 0.5935 MILLS IN ACCORDANCE WITH THE
NOVEMBER 7, 2017 BOND REFERENDUM APPROVED BY THE VOTERS IN AN
INITIAL EXPECTED NOT TO EXCEED TOTAL MAXIMUM PRINCIPAL AMOUNT OF
FOUR MILLION, TWO HUNDRED TEN THOUSAND AND 00/100 DOLLARS
($4,210,000.00) IN ORDER TO, AMONG OTHER THINGS, REIMBURSE THE CITY
FOR FUNDS ADVANCED BY THE CITY FOR CERTAIN EXPENSES INCURRED WITH
RESPECT TO THE PROJECT TO IMPROVE AFFORDABLE HOUSING WITHIN THE
CITY'S LIMITS; ESTABLISHING CERTAIN RELATED DEFINITIONS OF TERMS;
AUTHORIZING CERTAIN FURTHER AND INCIDENTAL ACTIONS BY THE CITY
MANAGER, DESIGNATED CITY OFFICIALS, AND DEPARTMENTS, IN
CONSULTATION WITH THE CITY ATTORNEY AND SUCH OTHER APPROPRIATE
OFFICERS, EMPLOYEES, AND AGENTS OF THE CITY AS NECESSARY, ALL AS
REQUIRED BY ALL APPLICABLE LAWS; FURTHER AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY
DOCUMENTS, INCLUDING AGREEMENTS, AMENDMENTS, EXTENSIONS, AND
MODIFICATIONS, ALL IN FORMS ACCEPTABLE TO THE CITY ATTORNEY AND BOND
COUNSEL, SUBJECT TO COMPLIANCE WITH ALL LAWS AND SUBJECT TO THE
City of Miami Page 1 of 2 Printed on: 8/19/2025
City of Miami
Master Report
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Enactment Number: R-25-0104
DEVELOPER FULFILLING ALL OF THE TERMS AND CONDITIONS SET FORTH IN
THE HCLC MEMORANDUM, IN ORDER TO ALLOCATE AN AMOUNT NOT TO
EXCEED FOUR MILLION, TWO HUNDRED TEN THOUSAND AND 00/100 DOLLARS
($4,210,000.00) FROM THE PROPOSED MIAMI FOREVER AFFORDABLE HOUSING
LIMITED AD VALOREM BONDS TO THE PROJECT FURTHER AUTHORIZING
RELATED AMENDMENTS TO THE CITY'S MULTI -YEAR CAPITAL PLAN AS
NECESSARY.
Sponsor(s): Commissioner Damian Pardo
Notes:
Links:
Attachments: 17306 Exhibit A (PDF)
17306 Exhibit B (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Legislative Division 3/4/2025 Legislative Division Review Completed
Xavier Alban 3/4/2025 ACA Review Completed
Leon P Michel 3/4/2025 Budget Review Completed
George K. Wysong III 3/4/2025 Approved Form and Completed
Correctness
City Commission 3/13/2025 Meeting Completed
City Commission 3/13/2025 ADOPTED WITH Passed
MODIFICATION(S)
A Legislative Division 3/17/2025 Legislative Division Review Completed
A Mayor's Office 3/19/2025 Signed by the Mayor Completed
A City Clerk's Office 3/19/2025 Signed and Attested by the City Completed
Clerk
A Xavier Alban 4/22/2025 ACA Review Completed
A George K. Wysong III 4/22/2025 Approved Form and Completed
Correctness with Modification(s)
A City Clerk's Office 4/22/2025 Rendered Completed
City of Miami Page 2 of 2 Printed on: 8/19/2025