HomeMy WebLinkAboutExhibit CCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Arthur Noriega, City Manager DATE: October 20, 2025 FILE, 18359
SUBJECT: D3 — Ground Lease Agreement
FROM: Victor Turner, Director
Dpt. of Housing and Community Development REFERENCES:
ENCLOSURES:
BACKGROUND
On February 13, 2025, pursuant to City of Miami Resolution No.25-0038, the City Commission
authorized the purchase of the properties, identified an assemblage of properties located within
City Commission District 3, which consists of five (5) properties with folio numbers 01-4102-006-
6480, 01-4102-006-6490, 01-4102-006-6470, 01-4102-006-6460, and 01-4102-006-6450
("collectively, the "Alternative Property"), in the amount of $11,740,000.00 allocated as follows: Six
Million, One Hundred Sixty Three Thousand, Sixteen Dollars ($6,163,016.00) from the District 3
Miami Forever Bond Affordable Housing fund; One Million, One Hundred Sixty -Eight Thousand,
Nine Hundred Eighty -Four Dollars ($1,168,984.00) from the District 3 Real Estate Acquisition and
Accessible Housing GF, Capital Project No. 40-B183416; Two Hundred and Eight Thousand
Dollars ($208,000.00) from the District 3 Parks, Streets, Affordable Housing, and Lighting
Improvements Reserve GF, Capital Project No. 40-B40713A; Two Million Dollars ($2,000,000.00)
from the District 3 Affordable Housing Trust Fund allocation; and Two Million, Two Hundred
Thousand Dollars ($2,200,000.00) from the District 3 Public Benefit Trust fund (collectively, the
"Funding Sources").
On June 17, 2025, pursuant to City of Miami Resolution No.25-0224, the_City Commission
authorized the purchase of the properties, which comprises of six (6) properties with folio numbers
01-4138-003-2240, 01-4138-003-2250, 01-4138-003-2260, 01-4138-003-2270, 01-4138-003-
2280, and 01-4138-003-2150; located at 901 Southwest 8th Street, 925 Southwest 8th Street, 939
Southwest 8th Street, 955 Southwest 8th Street, 965 Southwest 8th Street And 922 Southwest 7th
Street, Miami, Florida ("collectively 'Property"), in the total amount of $14,790,000.00, with funds
being allocated, appropriated, and awarded from District 3 Miami For Everyone Program Funds
Trust Fund in an amount not to exceed One Million Three Hundred Seventeen Thousand Seventy
Dollars ($1,317,070.00), from the Affordable Housing Trust Fund in an amount not to exceed
Eleven Million Ninety Six Thousand Three Hundred Seventy One Dollars ($11,096,371.00), and
from Community Development Block Grant ("CDBG") Funds in an amount not to exceed Two
Million Three Hundred Seventy Six Thousand Five Hundred Fifty Nine Dollars ($2,376,559.00)
(collectively, the "Funding Sources'').
SG LITTLE HAVANA, LLC.
Swerdlow Group, is the parent company of the Developer and Swerdlow Group has completed
various affordable housing developments within the City and currently has others at various
statages of construction, and is currently in good standing with the City.
The proposed Project will have approximately three hundred (300) units, focusing on low-income
people 55 years and older with an average annual income of no more than 60% of the Annual
Area Income ("AMI"), as developed by the U.S. Department of Housing and Urban Development
("HUD").
It is the intent of the Developer and the City for the Project to be developed as an affordable rental
housing project for low-income seniors on the parcels under a ninety-nine (99) years ground
lease, renewable for an additional 99 years ("Lease").
RECOMMENDATION
In light of the above stated, approval of a waiver of the formal requirements of competitive sealed
bidding methods as not being practicable or advantageous to the City as set forth in the City Code
of Ordinance, as amended, specifically Section 18-85 (A), and the affirmation of these written
findings and the forwarding of the same to the City Commission for ratification by a four -fifths vote
is respectfully requested.
'APPROVE : n DISAPPROVAL:
Arthu Noriega,
City Manager