HomeMy WebLinkAboutR-19-0141City of Miami
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Legislation
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Resolution: R-19-0141
File Number: 5562
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date: 4/11/2019
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE ASSIGNMENT OF THE PURCHASE AND SALE
AGREEMENT FOR THE CITY OF MIAMI ("CITY") OWNED PARCELS OF LAND
LOCATED AT 6240 NORTHWEST 15 AVENUE AND 1501, 1515, 1525, 1535,
1551, 1560, 1520, AND 1500 NORTHWEST 62 STREET, MIAMI, FLORIDA, AS
MORE PARTICULARLY DESCRIBED IN ATTACHMENT "A," ATTACHED AND
INCORPORATED, FROM ATLANTIC PACIFIC COMMUNITIES, LLC
("ATLANTIC') TO RESIDENCES AT DR. KING BOULEVARD, LTD., FOR THE
DEVELOPMENT OF AFFORDABLE/WORKFORCE RENTAL HOUSING FOR
ELIGIBLE LOW TO MODERATE INCOME PERSONS; 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, of the two (2) successful bidders, one (1) was Atlantic Pacific Communities,
LLC., a Delaware Limited Liability Company ("Atlantic"); and
WHEREAS, on November 16, 2017, pursuant to Resolution No. 17-0512, the City
Commission authorized the conveyance, with affordable/workforce rental housing restrictions
and automatic reverter provisions, of the City -owned properties located 6240 Northwest 15
Avenue and 1501, 1515, 1525, 1535, 1551, 1560, 1520, and 1500 Northwest 62 Street, Miami,
Florida (collectively, "Lots") to Atlantic for the construction of affordable/workforce housing for
eligible low to moderate income persons; and
WHEREAS, on December 14, 2017, a Purchase and Sale Agreement ("Agreement")
was executed between the City and Atlantic; and
WHEREAS, Atlantic has created a separate legal entity for the project, Residences at
Dr. King Boulevard, Ltd, a Florida Limited Partnership ("Residences"), in connection with its
application to Florida Housing Finance Corporation for low income housing tax credits; and
WHEREAS, Atlantic has requested that the City authorize the assignment of the
Agreement to Residences; and
City of Miami Page 1 of 2 File ID: 5562 (Revision:) Printed On: 4/23/2019
File ID: 5562 Enactment Number: R-19-0141
WHEREAS, the City shall require the following in order to convey the Lots to
Residences: (i) evidence satisfactory to the Director of Housing and Community Development
("Director") that financial commitments from the lender or lenders have been received; (ii) any
mortgages obtained on the Lots will be subject to the approval of the Director; and (iii) payment
by Residences to the City for the total amount of restricted funds used to acquire, refinance, or
improve the Lots with an affidavit 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, if any; and
WHEREAS, the City's Administration recommends that the City Commission authorize
the assignment of the Agreement from Atlantic to Residences 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. The assignment of the Agreement for the City -owned parcels Lots, as more
particularly described in Attachment "A," attached and incorporated, from Atlantic to Residences
for the development of affordable/workforce rental housing for eligible low to moderate income
persons is authorized.'
Section 3. 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 4. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
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i ria i ' ndez, City Attor iey 3/28/2019
' 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 2 of 2 File ID: 5562 (Revision:) Printed on: 4/23/2019