HomeMy WebLinkAboutExhibit BTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP
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CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
James Reyes,
City Manager
DATE: June 15, 2026 19456
SUBJEC 1 Bid Waiver -Ground Lease Agreement
5350 West Flagler Street, LLC.
Victor Tumer, Director
Dpt. of Housing and Community Development REFERENCES:
ENCLOSURES:
BACKGROUND
Pursuant to Resolution No. R-25-0062, adopted on February, 27 2025, the City Commission
authorized the leasing of certain City of Miami ("City") owned parcels to 5350 Flagler Street, LLC
("Developer") for the development of an affordable rental housing project for seniors consisting of
approximately ninety-eight (98) units.
It is the intent of the Developer and the City for the Project to be developed as a mixed use
affordable rental housing project for low-income seniors on the parcels under a ninety-nine (99)
years ground lease ("Lease").
Section 29-B(a) of the City Charter allows for the conveyance or disposition of City -owned
property for the implementation of projects which are intended to benefit people or households
with low and/or moderate income.
The development of affordable housing projects requires the Developer to obtain construction and
permanent loans from lenders, housing finance agencies, and other funding sources.
Such financing sources customarily require evidence of site control, including an executed ground
lease, prior to issuing binding financing commitments.
-1 N
CZZ
The City Commission finds that execution of the ground lease agreements is necessary to aljowcze,
the Developer to obtain the financing required to construct the Project. ;s; Fri
The City Commission desires to clarify that the ground lease agreements may be executed for N.)
purposes of establishing site control and facilitating financing. -,
The City shall require the following in order to lease the Parcels to the Developer: (i) evide ace ly
satisfactory to the Director of the Department of Housing and Community Development ("p reck") D
that financial commitments from the lender or lenders have been received; (ii) any mortgas m
obtained by the Developer on the Parcel(s) will be subject to the approval of the Director, which
such approval shall not be unreasonably withheld.
The approval of the Lease shall be subject to compliance with all applicable federal, State of
Florida, and local laws, rules, regulations, or restrictions; upon successful remediation of existing
environmental conditions, if any; and the negotiation and execution of any other necessary
documents all in form(s) acceptable to the City Attorney, for the purposes stated herein and in
furtherance of the Project.
19456 - Exhibit B-SUB
THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP
ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT.
RECOMMENDATION
In Tight 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.
-7
ROVED DISAPPROVAL:
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James Reyes,
City Manager
SUBSTITUTED
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
Victor Turner, Director _ �r 5
Dpt. of Housing and Community Development
BACKGROUND
DATE: June 15, 2026 FILE: 19456
SUBJECT. Bid Waiver -Ground Lease A. -ement
5350 West Flagler Street,
REFERENCES:
ENCLOSURES:
Pursuant to Resolution No. R-25-0062, adopted on February, 27 2025,
authorized the leasing of certain City of Miami ("City") owned parcels
("Developer") for the development of an affordable rental housing p
approximately ninety-eight (98) units.
e City Commission
5350 Flagler Street, LLC
ject for seniors consisting of
It is the intent of the Developer and the City for the Project to ' developed as a mixed use
affordable rental housing project for low-income seniors on e parcels under a ninety-nine (99)
years ground lease ("Lease").
Section 29-B(a) of the City Charter allows for the con yance or disposition of City -owned
property for the implementation of projects which ar intended to benefit people or households
with low and/or moderate income.
The development of affordable housing projes requires the Developer to obtain construction and
permanent loans from lenders, housing fin ce agencies, and other funding sources.
Such financing sources customarily re
lease, prior to issuing binding financi
re evidence of site control, including an executed ground
commitments.
The City Commission finds that cution of the ground lease agreements is necessary to allow
the Developer to obtain the fin cing required to construct the Project.
The City Commission desir' to clarify that the ground lease agreements may be executed for
purposes of establishing e control and facilitating financing.
The City shall requir
satisfactory to the
that financial co
obtained by th
such approv
e following in order to lease the Parcels to the Developer: (i) evidence
rector of the Department of Housing and Community Development ("Director")
tments from the lender or lenders have been received; (ii) any mortgages
eveloper on the Parcel(s) will be subject to the approval of the Director, which
shall not be unreasonably withheld.
The appr al of the Lease shall be subject to compliance with all applicable federal, State of
Florida - nd local laws, rules, regulations, or restrictions; upon successful remediation of existing
envir- mental conditions, if any; and the negotiation and execution of any other necessary
do. 4 ment all in form(s) acceptable to the City Attorney, for the purposes stated herein and in
f herance of the Project.
SUBSTITUTED
RECOMMENDATION
In light of the above stated, approval of a waiver of the formal requirements of competitive seal
bidding methods as not being practicable or advantageous to the City as set forth in the City -de
of Ordinance, as amended, specifically Section 18-85 (A), and the affirmation of these itten
findings and the forwarding of the same to the City Commission for ratification by a four-fi c s vote
is respectfully requested.
❑ APPROVED: ❑ DISAPPROVAL:
James Reyes,
City Manager