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HomeMy WebLinkAboutAgenda Item Summary FormJr AGENDA ITEM SUMMARY FORM File ID: #5219 Date: 12/07/2018 Requesting Department: Department of Housing and Community Development Commission Meeting Date: 01/10/2019 Sponsored By: District Impacted: All Type: Resolution Subject: Amend - Housing Program Policies Purpose of Item: AUTHORIZING AMENDING THE CITY OF MIAMI DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT'S HOUSING PROGRAM POLICIES, TO INCLUDE A RIGHT OF FIRST REFUSAL PROVISION AND A GENERAL UPDATE OF THE POLICIES TO REFLECT THE CHANGING HOUSING MARKET AS DESCRIBED IN EXHIBIT "A", ATTACHED AND INCORPORATED; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL THE NECESSARY DOCUMENTS, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. Background of Item: Due to substantial changes in the real estate market in the City of Miami, housing prices has outpaced the incomes of majority of residents in the City. According to calculations performed by the FIU Metropolitan Center based on the 2016 American Community Survey, the gap in the number of units affordable to extremely low-income families is 13,195 units and the gaps for very low-income families and low income families are 7,694 and 10,909, respectively. According to data from the Shimberg Center for Housing Studies of the University of Florida, there are 24 properties in the City of Miami with more than 1,800 units with the affordability period expiring in the next five year. The Housing Policies is being amended to include the Right of First Refusal provision to preserve the units, provide additional incentive for small developers and to bring the policies in line with current practices in the affordable housing industry. The City Administration recommends to amend the City of Miami, Department of Housing and Community Development's Housing Program Policies as described in Exhibit "A" , attached and incorporated. Budget Impact Analysis Item has NO budget impact Item is NOT Related to Revenue Item is NOT funded by Bonds Total Fiscal Impact: N/A Reviewed By Department of Community and Economic Development Review Completed 12/10/2018 10:58 AM Office of Management and Budget Luis Hernandez -Torres Office of Management and Budget Christopher M Rose City Manager's Office Sandra Bridgeman City Manager's Office Nikolas Pascual Legislative Division Valentin J Alvarez Office of the City Attorney Richard Appleton Office of the City Attorney Barnaby L. Min Office of the City Attorney Victoria Mendez City Commission Maricarmen Lopez Office of the Mayor Mayor's Office Office of the City Clerk City Clerk's Office Office of the City Clerk City Clerk's Office George Mensah Department Head Budget Analyst Review Completed Budget Review Completed Assistant City Manager Review Completed City Manager Review Completed Legislative Division Review Completed ACA Review Completed Deputy City Attorney Review Completed Approved Form and Correctness Completed Meeting Completed Signed by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 12/10/2018 3:16 PM 12/24/2018 9:02 AM 12/24/2018 9:07 AM 12/24/2018 9:51 AM 12/24/2018 11:50 AM 12/26/2018 3:43 PM 12/27/2018 8:19 AM 12/27/2018 4:11 PM 01/10/2019 9:00 AM 01/18/2019 2:48 PM 01/18/2019 3:54 PM 01/18/2019 3:54 PM File Number: 5219 City of Miami Legislation Resolution Enactment Number: R-19-0021 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Final Action Date:1/10/2019 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AMENDING THE CITY OF MIAMI'S DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT'S HOUSING PROGRAM POLICIES TO INCLUDE A RIGHT OF FIRST REFUSAL PROVISION AND A GENERAL UPDATE OF THE POLICIES TO REFLECT THE CHANGING HOUSING MARKET, AS FURTHER DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED; 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, due to substantial changes in the real estate market in the City of Miami ("City"), housing prices have outpaced the incomes of a majority of City residents; and WHEREAS, according to calculations performed by the Florida International University Metropolitan Center, based on the 2016 American Community Survey, the gap in the number of housing units ("Units") that are affordable to extremely low-income families is 13,195 Units and the gaps for very low-income families and low income families are 7,694 Units and 10,909 Units, respectively; and WHEREAS, according to data from the Shimberg Center for Housing Studies of the University of Florida, there are twenty-four (24) properties in the City containing more than 1,800 Units with the affordability period expiring in the next five (5) years; and WHEREAS, the City's Department of Housing and Community Development's Housing Program Policies ("Policies") are being amended to include a Right of First Refusal provision to preserve the affordability of Units, to provide additional incentives for small developers, and to bring the policies in line with current practices in the affordable housing industry; and WHEREAS, the City Administration recommends amending the Policies as further described in Exhibit "A," attached and incorporated; 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. The amendment of the Policies to include a Right of First Refusal provision and a general update of the policies to reflect the changing housing market, as further described in Exhibit 'A" attached and incorporated, is authorized.' Section 3. The City Manager is authorized' to negotiate and execute any and all necessary documents, in a form acceptable to the City Attorney, for said purpose. ' 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. Section 4. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: +r—ey— ty t6 ria ndez, ity 1212712018 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.