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Home My WebLink AboutR-19-0100City of Miami 1 i.RR cl Legislation alldl 1lm Resolution: R-19-0100 File Number: 5428 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Final Action Date: 3/14/2019 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENTS, 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 EXHIBIT "B," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS FOR THE CITY OF MIAMI ("CITY") PURSUANT TO SECTION 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 -OWNED PARCELS OF LAND LOCATED AT 1305, 1321, 1331, 1341, 1361, 1320, AND 1370 NORTHWEST 61 STREET, MIAMI, FLORIDA, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED, TO LIBERTY RENAISSANCE APARTMENTS LLC, A FLORIDA LIMITED LIABILITY COMPANY, FOR THE DEVELOPMENT OF AFFORDABLE/WORKFORCE RENTAL HOUSING IN ACCORDANCE WITH SECTION 29-B(A) OF THE CITY CHARTER; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY AND BOND COUNSEL, FOR SAID PURPOSE. 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; and WHEREAS, one (1) of the two (2) successful bidders was Centennial Management Corp., a Florida Corporation ("Centennial"); and WHEREAS, on November 16, 2017, pursuant to Resolution No. 17-0512, the City Commission authorized the transfer, with affordable/workforce rental housing restrictions and automatic reverter provisions, of the City -owned properties located 1305, 1321, 1331, 1341, and 1361 Northwest 61 Street, Miami, Florida ("Original Parcels") to Centennial for the construction of affordable/workforce housing for eligible low to moderate income persons; and City of Miami Page 1 of 4 File ID: 5428 (Revision:) Printed On: 411/2019 File ID: 5428 Enactment Number: R-19-0100 WHEREAS, on August 10, 2018, Centennial submitted a Letter of Request to the City for additional sites located at 1320 and 1370 Northwest 61 Street, Miami, Florida; and WHEREAS, the Original Parcels did not comply with the minimum requirements for Federal Housing Finance Agency ("FHFC") loan funding because the Original Parcels did not provide a sufficient number of units; and WHEREAS, on November 15, 2018, pursuant to Resolution No. 18-0506, the City Commission authorized the transfer, with affordable/workforce rental housing restrictions and automatic reverter provisions, of the City -owned properties located at 1320 and 1370 Northwest 61 Street, Miami, Florida (these two (2) City -owned properties together with the Original Parcels shall hereinafter be known as the "Combined Lots"), which were parcels of land that were included in the RFP, to Centennial; and WHEREAS, none of the Combined Lots were ultimately conveyed to Centennial; and WHEREAS, the Combined Lots will allow for a viable affordable housing development ("Project") to be constructed; and WHEREAS, Resolution No. 17-0512 and Resolution No. 18-0506 specified that Centennial was the only entity that was authorized to receive the Combined Lots; however, Centennial recently requested that the City transfer the Combined Lots to an affiliated legal entity; and WHEREAS, Centennial has created a separate legal entity for the Project, Liberty Renaissance Apartments LLC, a Florida Limited Liability Company ("Liberty Renaissance"), in connection with its application for low income housing tax credits from the Florida Housing Finance Corporation and has requested that the City transfer the Combined Lots to Liberty Renaissance; and WHEREAS, a portion of the Combined Lots was acquired with, refinanced by, or improved by the City's tax-exempt bond funds and such restricted funds must be repaid by Liberty Renaissance 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 instrument(s) shall require the Combined Lots to automatically revert to the City if (i) the Combined Lots are not fully developed within twenty-four (24) months of the date of closing as evidenced by a Certificate of Occupancy or Temporary Certificate of Use, 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 Combined Lots are not solely used for low to moderate income housing; and WHEREAS, the Combined Lots shall be for the development of affordable/workforce rental housing in accordance with Section 29-13(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 Combined Lots to Liberty Renaissance: (i) evidence satisfactory to the Director that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained by Liberty Renaissance on the Combined Lots will be subject to the approval of the Director; (iii) payment by Liberty City of Miami Page 2 of 4 File ID: 5428 (Revision:) Printed on: 4/1/2019 File ID: 5428 Enactment Number: R-19-0100 Renaissance to the City of the total amount of restricted funds used to acquire, refinance, or improve the Combined Lots 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 Combined Lots occurs simultaneously with the closing of the construction financing by the lender(s), if any; and WHEREAS, the Combined Lots shall be conveyed through purchase and sale agreement(s) and any other necessary documents, all in form(s) acceptable to the City Attorney and Bond Counsel; and WHEREAS, the City Administration recommends that the City transfer, with affordable/workforce rental housing restrictions and automatic reverter provisions, the Combined Lots to Liberty Renaissance for the construction of affordable/workforce housing for eligible low to moderate income persons; 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, the City Manager's determinations, findings, and recommendations, attached and incorporated as Exhibit "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 Combined Lots, as described in Exhibit 'A" attached and incorporated, to Liberty Renaissance for the development of affordable/workforce rental housing in accordance with Section 29-13(a) of the City Charter. Section 4. The City Manager is further authorized' to negotiate and execute any and all necessary documents, all in a form acceptable to the City Attorney and Bond Counsel, for said purpose. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 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. City of Miami Page 3 of 4 File ID: 5428 (Revision:) Printed on: 4/1/2019 File ID: 5428 APPROVED AS TO FORM AND CORRECTNESS: 1 ria ' ndez, Cify Attor iey 3/412019 Enactment Number: R-19-0100 City of Miami Page 4 of 4 File ID: 5428 (Revision:) Printed on: 4/1/2019