HomeMy WebLinkAboutMaster ReportCity of Miami
Master Report
Enactment Number: R-25-0543
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 18621
Revision: A
File Type: Resolution Status: ADOPTED WITH
MODIFICATION(S)
Controlling Body: City Commission
File Name: Allocate Funding - Affordable Housing - 1340 SW 8 Introduced: 12/2/2025
Street and 825 SW 13 Court - NR Investments
Requesting Dept: Commissioners and Mayor Final Action Date: 12/11/2025
Title: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING A FORGIVABLE LOAN IN AN AMOUNT NOT TO EXCEED FOUR
MILLION DOLLARS ($4,000,000.00) FROM LEGALLY AVAILABLE FUNDING
SOURCES AS FURTHER DESCRIBED HEREIN ("FUNDS"), TO N.R. INVESTMENTS,
INC., A FLORIDA PROFIT CORPORATION ("DEVELOPER"), TO CONSTRUCT A NEW
AFFORDABLE AND WORKFORCE HOUSING DEVELOPMENT THAT WILL CONTAIN
NO FEWER THAN EIGHTY (80) CITY OF MIAMI-ASSISTED RESIDENTIAL RENTAL
UNITS FOR ELIGIBLE RESIDENTS WHOSE ANNUAL INCOME IS EQUAL TO OR
BETWEEN SIXTY PERCENT (60%) AND ONE HUNDRED TWENTY PERCENT (120%)
OF AREA MEDIAN INCOME, AS PUBLISHED ANNUALLY BY THE UNITED STATES
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, AS FURTHER
DESCRIBED HEREIN, LOCATED AT 1340 SOUTHWEST 8TH STREET AND 825
SOUTHWEST 13TH COURT, MIAMI, FLORIDA, AS MORE PARTICULARLY
DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED ("PROJECT"),
WHERE DISBURSEMENT OF THE FUNDS IS SUBJECT TO THE RECEIPT BY THE
CITY MANAGER OF THE WRITTEN APPROVAL OF THE LOAN BY THE CITY'S
HOUSING AND COMMERCIAL LOAN COMMITTEE ("HCLC APPROVAL"), AND
SUBJECT TO THE TERMS, CONDITIONS, AND RESTRICTIONS CONTAINED
HEREIN, IN THE HCLC APPROVAL, THE CITY'S DEPARTMENT OF HOUSING AND
COMMUNITY DEVELOPMENT GUIDELINES, ANY OTHER APPLICABLE CITY
RESOLUTIONS RELATED TO THE PROJECT, AND ALL APPLICABLE FEDERAL,
STATE OF FLORIDA, LOCAL, AND CITY LAWS, RULES, AND REGULATIONS FOR
AFFORDABLE HOUSING PROJECTS; 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, FOR SAID PURPOSE;
PROVIDING FOR AN EFFECTIVE DATE.
Sponsor(s): Commissioner Joe Carollo
Notes:
Links:
Attachments: 18621 Exhibit A (PDF)
18621 Exhibit B (PDF)
History of Legislative File:
Revision: Acting Body: Date: Action: Result:
Legislative Division 12/2/2025 Legislative Division Review Completed
City of Miami Page 1 of 2 Printed on: 1/12/2026
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A
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Victor Turner
Leon P Michel
Xavier Alban
City Commission
City Commission
Mayor's Office
City Clerk's Office
Legislative Division
Xavier Alban
George K. Wysong III
City Clerk's Office
City of Miami
Master Report
Enactment Number:
12/2/2025
12/2/2025
12/2/2025
12/11/2025
12/11/2025
12/11/2025
12/11/2025
12/17/2025
1/8/2026
1/9/2026
1/12/2026
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
R-25-0543
Department Head Review
Budget Review
ACA Review
Meeting
ADOPTED WITH
MODIFICATION(S)
Signed by the Mayor
Signed and Attested by the City
Clerk
Legislative Division Review
ACA Review
Approved Form and
Correctness with Modification(s)
Rendered
Completed
Completed
Completed
Completed
Passed
Completed
Completed
Completed
Completed
Completed
Completed
City of Miami Page 2 of 2 Printed on: 1/12/2026