HomeMy WebLinkAboutR-18-0506City of Miami
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Legislation
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Resolution: R-18-0506
File Number: 5056
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 11/15/2018
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
BY A FOUR-FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED
PUBLIC HEARING, RATIFYING, APPROVING, AND CONFIRMING THE CITY
MANAGER'S FINDING, ATTACHED AND INCORPORATED AS ATTACHMENT
"B," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE
NOT PRACTICABLE OR ADVANTAGEOUS FOR THE CITY OF MIAMI ("CITY")
PURSUANT TO SECTIONS 29-B(A) OF THE CHARTER OF THE CITY OF
MIAMI, FLORIDA, AS AMENDED ("CITY CHARTER"), AND SECTION 18-182(C)
OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY
CODE"); WAIVING THE REQUIREMENTS FOR SAID PROCEDURES;
AUTHORIZING THE CITY MANAGER TO TRANSFER, WITH
AFFORDABLE/WORKFORCE RENTAL HOUSING RESTRICTIONS AND
AUTOMATIC REVERTER PROVISIONS, THE CITY OF MIAMI ("CITY") OWNED
PARCELS OF LAND LOCATED AT 1320 NORTHWEST 61 STREET AND 1370
NORTHWEST 61 STREET, MIAMI, FLORIDA, AS MORE PARTICULARLY
DESCRIBED IN ATTACHMENT "A," ATTACHED AND INCORPORATED
(COLLECTIVELY "PARCELS"), TO CENTENNIAL MANAGEMENT CORP., A
FLORIDA CORPORATION ("DEVELOPER"), FOR THE DEVELOPMENT OF
AFFORDABLE/WORKFORCE RENTAL HOUSING; FURTHER AUTHORIZING
THE CITY MANAGER TO NEGOTIATE AND EXECUTE PURCHASE AND SALE
AGREEMENT(S) FOR EACH PARCEL AND ANY AND ALL OTHER NECESSARY
DOCUMENTS, IN FORM(S) ACCEPTABLE TO THE CITY ATTORNEY AND
BOND COUNSEL, TO TRANSFER THE RESPECTIVE PARCELS TO THE
DEVELOPER IN ORDER TO RECOUP RESTRICTED FUNDS AS AND IF
APPLICABLE AND IN COMPLIANCE WITH THE REQUIREMENTS UNDER THE
UNITED STATES INTERNAL REVENUE CODE OF 1986, AS AMENDED.
SPONSOR(S): Commissioner Keon Hardemon
WHEREAS, on November 21, 2016, the City of Miami ("City") issued a Request for
Proposals ("RFP") inviting qualified private real estate developers to propose developments of
affordable/workforce rental housing on certain City -owned parcels of land; and
WHEREAS, a total of six (6) responses were received, two (2) of which met the
minimum threshold and fulfilled all the proposal requirements as responsive and responsible
bidders: Atlantic Pacific Communities, LLC and Centennial Management, Corp. (collectively,
"Developers"); and
WHEREAS, on November 16, 2017, pursuant to Resolution No. 17-0512, the City
Commission transferred with affordable/workforce rental housing restrictions and reverter
provisions certain City -owned properties located between Northwest 13 and 15 Avenues and
Northwest 61 and 62 Streets, Miami, Florida (collectively, "Original Sites") to the Developers for
the construction of affordable/workforce housing for eligible low to moderate income persons;
and
City of Miami Page 1 of 3 File ID: 5056 (Revision:) Printed On: 1/22/2019
File ID: 5056 Enactment Number: R-18-0506
WHEREAS, on August 10, 2018, Centennial Management Corp. ("Developer") submitted
a Letter of Request to the City for additional sites located at 1320 Northwest 61 Street, Miami,
Florida and 1370 Northwest 61 Street, Miami, Florida, as more particularly described in
Attachment "A," attached an incorporated (collectively, "Parcels"), which are in close proximity to
the Developer's portion of the Original Sites; and
WHEREAS, the Original Sites do not comply with the minimum requirements for Federal
Housing Finance Agency ("FHFC") loan funding because the Original Sites do not provide the
sufficient numbers of units; and
WHEREAS, the proposed project, "Liberty Renaissance," will be built on the Parcels, will
provide ninety-eight (98) units for elderly low to moderate income persons, and is in compliance
with the RFP; and
WHEREAS, the City Administration recommends transferring with affordable/workforce
rental housing restrictions and automatic reverter provisions the City -owned Parcels to the
Developer; and
WHEREAS, the Parcels were acquired with, refinanced by, or improved by the City's
tax-exempt bond funds and such restricted funds must be repaid by the Developer to the City in
order to comply with continuing requirements of the United States Internal Revenue Code of
1986, as amended; and
WHEREAS, the affordable/workforce rental housing restrictions and automatic reverter
provisions contained in the conveying instruments shall require the Parcels to automatically
revert to the City if (i) the Parcels are not fully developed within twenty-four (24) months of the
date of closing as evidenced by a Certificate of Occupancy, where the twenty-four (24) month
requirement may be amended by the Director of the Department of Housing and Community
Development ("Director") by a written communication, and (ii) the Parcels are not solely used for
low to moderate income housing; and
WHEREAS, the Parcels shall be for the development of affordable/workforce rental
housing in accordance with Section 29-B(a) of the Charter of the City of Miami, Florida, as
amended ("City Charter'); and
WHEREAS, the City shall require the following in order to convey the Parcel(s) to the
Developer: (i) evidence satisfactory to the Director that financial commitments from the lender or
lenders have been received; (ii) any mortgages obtained by the Developer on the Parcel(s) will
be subject to the approval of the Director; (iii) payment by the Developer to the City of the total
amount of restricted funds used to acquire, refinance, or improve the Parcel(s) with an affidavit
of such payment and receipt by the City of such payment(s) in form(s) acceptable to the City's
Finance Director, the City Attorney, and Bond Counsel; and (iv) the closing of the Parcels
occurs simultaneously with the closing of the construction financing by the lender(s), if any; and
WHEREAS, the Parcels shall be conveyed through purchase and sale agreement(s)
("Agreements") and any and all other necessary documents, all in form(s) acceptable to the City
Attorney and Bond Counsel;
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
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File ID: 5056
adopted by reference and incorporated as if fully set forth in this Section.
Enactment Number: R-18-0506
Section 2. By a four-fifths (4/5ths) affirmative vote, after an advertised public hearing,
the City Manager's determinations, findings, and recommendations, attached and incorporated
as Attachment "B," pursuant to Sections 29-13(a) of the City Charter and Section 18-182(c) of
the Code of the City of Miami, Florida, as amended, are ratified, approved, and confirmed and
the City Commission hereby waives the requirements for said procedures.
Section 3. The City Manager is authorized to transfer with affordable/workforce rental
housing restrictions and automatic reverter provisions the City -owned Parcels to the Developer
for the development of affordable/workforce rental housing.
Section 4. The City Manager is further authorized' to negotiate and execute the
Agreement(s) for each Parcel and any and all other necessary documents, in form(s)
acceptable to the City Attorney and Bond Counsel, to transfer the respective Parcels to the
Developer in order to recoup restricted funds, as and if applicable, and in compliance with the
requirements under the United States Internal Revenue Code of 1986, as amended.
Section 5. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
1
4nai dez, Giky Httor ey 11/2/2018
' The herein authorization is further subject to compliance with all requirements that may be imposed by
the City Attorney, 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.
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