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HomeMy WebLinkAboutAgenda Item Cover PageAGENDA ITEM COVER PAGE File ID: #18570 Resolution Sponsored by: Commissioner Joe Carollo A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, PURSUANT TO SECTION 29-B(A) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AND SECTION 18-72(B) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AUTHORIZING THE SALE, WITH AFFORDABLE HOUSING RESTRICTIONS AND AUTOMATIC REVERTER PROVISIONS, SUBJECT TO ALL CONDITIONS PRECEDENT REQUIRED BY THE CITY MANAGER, HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT, INCLUDING OBTAINING TITLE OF THE PROPERTIES, OF THE PROPERTIES APPROXIMATELY LOCATED AT 1340 SOUTHWEST 8TH STREET AND 825 SOUTHWEST 13TH COURT, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, TO N.R. INVESTMENTS, INC, A FLORIDA PROFIT CORPORATION ("DEVELOPER"), FOR THE REDEVELOPMENT OF THE PARCEL FOR AFFORDABLE AND/OR WORKFORCE HOUSING, IN COMPLIANCE WITH ANY APPLICABLE FUNDING REQUIREMENTS, AND ANY OTHER APPLICABLE FEDERAL, STATE, AND LOCAL LAWS, RULES, AND REGULATIONS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. City of Miami Legislation Resolution Enactment Number: R-25-0528 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 18570 Final Action Date:12/11/2025 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, PURSUANT TO SECTION 29-B(A) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AND SECTION 18-72(B) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, AUTHORIZING THE SALE, WITH AFFORDABLE HOUSING RESTRICTIONS AND AUTOMATIC REVERTER PROVISIONS, SUBJECT TO ALL CONDITIONS PRECEDENT REQUIRED BY THE CITY MANAGER, HOUSING AND COMMUNITY DEVELOPMENT DEPARTMENT, INCLUDING OBTAINING TITLE OF THE PROPERTIES, OF THE PROPERTIES APPROXIMATELY LOCATED AT 1340 SOUTHWEST 8TH STREET AND 825 SOUTHWEST 13TH COURT, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, TO N.R. INVESTMENTS, INC, A FLORIDA PROFIT CORPORATION ("DEVELOPER"), FOR THE REDEVELOPMENT OF THE PARCEL FOR AFFORDABLE AND/OR WORKFORCE HOUSING, IN COMPLIANCE WITH ANY APPLICABLE FUNDING REQUIREMENTS, AND ANY OTHER APPLICABLE FEDERAL, STATE, AND LOCAL LAWS, RULES, AND REGULATIONS; AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, pursuant to Resolution No. R-25-0429, the City Manager was authorized to obtain fee simple ownership of the parcels located at 1340 Southwest 8th Street (Folio No. 01 - 4111-013-0510) and 825 Southwest 13th Court (Folio No. 01-4111-013-0500) (collectively, the "Properties"), situated in the culturally significant Little Havana neighborhood; and WHEREAS, N.R. Investments, Inc., a Florida Profit Corporation ("NR Investments"), has submitted a proposal pursuant to Section 29-B of the Charter of the City of Miami, Florida, as amended for the development of a mixed -income, mixed -use residential project on the aforementioned parcels; and WHEREAS, the proposed development includes approximately 114 residential units, along with ground -floor retail and structured parking ("Project"), of which approximately 80 residential units will be designated as affordable and workforce housing units, which shall be occupied by families whose annual income range from up to 60%, 100%, and 120% of Area Median Income ("AMI"), as published annually by the United States Department of Housing and Urban Development ("Qualified Applicants"), in compliance with any applicable funding requirements; and WHEREAS, the Project is designed to comply with Ordinance No. 13114, the Zoning Ordinance of the City of Miami, Florida, as amended ("Miami 21 Code") and sustainable development; and WHEREAS, the proposed development seeks to provide significant public benefit by addressing the City's critical need for affordable and workforce housing, particularly for essential workers such as teachers, nurses, police officers, and firefighters; and WHEREAS, NR Investments has demonstrated a successful track record of delivering high -quality affordable housing projects through public -private partnerships, including UNI Tower, UNI+DOS Building; and WHEREAS, the City has determined that the conveyance of the subject parcels to NR Investments, upon satisfaction of all condition precedents including but not limited to acquisition of the property by the City, final site plan approval, financing commitments, and execution of a development agreement, is in the public interest and consistent with the City's goals for equitable housing and neighborhood revitalization; and WHEREAS, the City desires to eventually transfer the property to NR Investments in fee simple title with automatic reverter provisions, to facilitate the development of the project, contingent upon the fulfillment of all agreed -upon conditions precedent and the City's acquisition of the property; and WHEREAS, the affordable housing restrictions and automatic reverter provisions contained in the conveying instrument(s) shall require that the Properties automatically revert to the City if the Properties are used in a manner that is inconsistent with the requirements of the Programs during the thirty (30) year term; and WHEREAS, Section 29-B(a) of the of the Charter, provides for the waiver of competitive bidding and other requirements and when "conveying property to implement housing programs or projects which are intended to benefit persons or households with low and/or moderate income, the criteria of which to be provided for the federal and/or state law or by the city commission"; and WHEREAS, the City's Administration recommends the sale, with affordable housing restrictions and automatic reverter provisions, to facilitate the development of the Project, contingent upon the fulfillment of all agreed -upon conditions precedent and the City's acquisition of the Properties to NR Investment, in compliance with any applicable funding requirements and the City's Programs; 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. By a four -fifths (4/5ths) affirmative vote, after an advertised public hearing, pursuant to Section 29-B(a) of the City Charter and Section 18-72(B) of the Code of the Miami, Florida, as amended ("City Code"), the sale, with affordable housing restriction and an automatic reverter provision, to facilitate the development of the Project, contingent upon the fulfillment of all agreed -upon conditions precedent and the City's acquisition of the Properties, of the Properties to NR Investment, in compliance with any applicable funding requirements and the City's Program, is authorized. Section 3. The City Manager is authorized to negotiate and execute the any and all necessary documents in forms acceptable to the City Attorney, for said purpose. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: 1 The herein authorization is further subject to compliance with all legal requirements that may be imposed, including but not limited to those prescribed by applicable City Charter and City Code provisions. 2 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.