HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-25-0174
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17577
Revision:
File Type: Resolution
File Name: Approve - Additional Funding Request - Essence
Mia Housing Development
Status: ADOPTED
Controlling Body: City Commission
Introduced: 4/29/2025
Requesting Dept: Commissioners and Mayor Final Action Date: 5/8/2025
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
ALLOCATING ADDITIONAL FUNDING ON A REIMBURSEMENT BASIS IN AN AMOUNT
NOT TO EXCEED SEVEN MILLION AND 00/100 DOLLARS ($7,000,000.00) FROM
LEGALLY AVAILABLE FUNDING SOURCES AS FURTHER DESCRIBED HEREIN, FOR
ATOTALALLOCATION NOT TO EXCEED TWELVE MILLION AND 00/100 DOLLARS
($12,000,000.00) TO 8TH STREET PROPERTIES, LLC, A FLORIDA LIMITED LIABILITY
COMPANY ("DEVELOPER"), FOR THE AFFORDABLE HOUSING COMPONENTS OF
AN 8-STORY, HIGH RISE MIXED USE COMMERCIAL AND RESIDENTIAL COMPLEX
PROJECT TO BE LOCATED AT 829 SOUTHWEST 8TH STREET, 845 SOUTHWEST
8TH STREET, AND 847 SOUTHWEST 8TH STREET TO BE KNOWN AS "ESSENCE
MIAMI" ("PROJECT"), SUBJECT TO COMPLIANCE WITH THE CITY'S DEPARTMENT
OF HOUSING AND COMMUNITY DEVELOPMENT GUIDELINES, THE RECEIPT BY
THE CITY MANAGER OF THE WRITTEN APPROVAL OF THE ADDITIONAL
ALLOCATION BY THE CITY'S HOUSING AND COMMERCIAL LOAN COMMITTEE
("HCLC") AND SUBJECT TO THE TERMS, CONDITIONS, AND RESTRICTIONS
CONTAINED IN THE HCLC APPROVAL (COLLECTIVELY, "HCLC APPROVAL"), AND
ALL FEDERAL, STATE, AND LOCAL LAWS THAT REGULATE THE USE OF SUCH
FUNDS FOR SAID PURPOSE; 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 THE CITY'S SEVEN (7) AFFORDABLE HOUSING BONDS
PROJECTS STRATEGIES, AND THE MIAMI FOREVER AFFORDABLE HOUSING
LIMITED AD VALOREM BONDS (COLLECTIVELY, "LAWS"); SUBJECT TO THE
RECEIPT BY THE CITY MANAGER OF THE HCLC APPROVALS; FURTHER
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, SUBJECT
TO COMPLIANCE WITH ALL LAWS AND SUBJECT TO THE DEVELOPER FULFILLING
ALL OF THE TERMS AND CONDITIONS TO BE SET FORTH IN THE HCLC
APPROVALS, IN ORDER TO ALLOCATE THE CITY'S FUNDING TO THE PROJECT;
RATIFYING, APPROVING, AND CONFIRMING CERTAIN NECESSARY ACTIONS BY
THE CITY MANAGER AND DESIGNATED CITY DEPARTMENTS IN ORDER TO
UPDATE THE CAPITAL PLAN, RELEVANT FINANCIAL CONTROLS AND COMPUTER
SYSTEMS IN CONNECTION THEREWITH, FOR PROJECT CLOSE-OUTS, AND FOR
GRANTS AND OTHER FUNDING SOURCES IN PROGRESS IN CONNECTION
HEREWITH; FURTHER APPROVING, AUTHORIZING, AND DIRECTING THE CITY
MANAGER TO UNDERTAKE THIS AMENDMENT IN ORDER TO ADD TO AND TO
REVISE CAPITAL PROJECTS IN THE CITY'S FISCAL YEAR 2024-2025 MULTI -YEAR
CAPITAL PLAN ADOPTED ON SEPTEMBER 7, 2024 PURSUANT TO RESOLUTION
NO. R-24-0328 ("ADOPTED CAPITAL PLAN"), AS SUBSEQUENTLY AMENDED,
APPROPRIATING FUNDS AS SET FORTH HEREIN, AS APPLICABLE; PROVIDING
FOR AN EFFECTIVE DATE.
City of Miami Page 1 of 2 Printed on: 8/22/2025
City of Miami
Master Report
Enactment Number: R-25-0174
Sponsor(s): Commissioner Joe Carollo
Notes:
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Links:
Attachments: 17577 Exhibit A (PDF)
17577 Back -Up Documents (PDF)
17577 Pre -Legislation (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Legislative Division 4/29/2025 Legislative Division Review Completed
Xavier Alban 4/29/2025 ACA Review Completed
Marie Gouin 4/29/2025 Budget Review Completed
George K. Wysong III 4/29/2025 Approved Form and Completed
Correctness
City Commission 5/8/2025 Meeting Completed
City Commission 5/8/2025 ADOPTED Passed
Mayor's Office 5/16/2025 Signed by the Mayor Completed
City Clerk's Office 5/16/2025 Signed and Attested by the City Completed
Clerk
City Clerk's Office 5/16/2025 Rendered Completed
City of Miami Page 2 of 2 Printed on: 8/22/2025