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HomeMy WebLinkAboutAgenda Item Summary FormY OF �+r *�1111 r „A,,,* AGENDA ITEM SUMMARY FORM ,e„ Q File ID: #6504 O R Date: 09/18/2019 Requesting Department: Department of Housing and Communitv Development Commission Meeting Date: 11/21/2019 Sponsored By: District Impacted: All Type: Resolution Subject: Amend - Affordable Rental Housing Policv Purpose of Item: A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S) AMENDING THE CITY OF MIAMI'S DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT'S AFFORDABLE RENTAL HOUSING PRESERVATION PROGRAM POLICY, TO ALLOW PROGRAMS FUND TO BE USED FOR PROPERTY ACQUISITION 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. Backaround of Item: The supply of affordable housing has failed to keep up with the demand, and as a result, greater competition for limited supply has driven up housing prices and made many of the City's neighborhoods less affordable. According to calculations performed by the FIU Jorge M. Perez, Metropolitan Center, the City of Miami loses about 1,200 affordable housing units due to increase cost. In line with the study conducted by the FIU, the City should first stem the loss of affordable housing units before the creation of new units. The Affordable Rental Preservation Program Policy is designed to be able to help stem the loss of affordable housing units. The Affordable Rental Housing Preservation Program Policy is being amended to allow property acquisition to preserve the affordable housing units. The City Administration recommends to amend the City of Miami's Department of Housing and Community Development's Affordable Rental Housing Preservation Program Policy as described in Exhibit "A", attached and incorporated. Budaet Impact Analvsis Item is NOT Related to Revenue Item is NOT funded by Bonds Item is an Expenditure Total Fiscal Impact: N/A Reviewed By Department of Community and Economic Development Review Completed 09/18/2019 12:59 PM 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 Unsigned by the Mayor Completed Signed and Attested by the City Clerk Completed Rendered Completed 09/23/2019 10:57 AM 09/26/2019 4:59 PM 09/27/2019 11:14 AM 09/27/2019 12:33 PM 10/07/2019 1:28 PM 10/10/2019 7:10 PM 10/10/2019 7:20 PM 10/24/2019 6:56 PM 11/21/2019 9:00 AM 12/03/2019 5:08 PM 12/03/2019 6:03 PM 12/03/2019 6:04 PM File Number: 6504 City of Miami Legislation Resolution Enactment Number: R-19-0458 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com Final Action Date: 11/21/2019 A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AMENDING THE CITY OF MIAMI'S DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT'S AFFORDABLE RENTAL HOUSING PRESERVATION PROGRAM POLICY TO ALLOW PROGRAM FUNDS TO BE USED FOR PROPERTY ACQUISITION, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT "A," ATTACHED AND INCORPORATED; FURTHER AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ANY AND ALL NECESSARY DOCUMENTS, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID PURPOSE. WHEREAS, the supply of affordable housing has failed to keep pace with demand which has driven housing prices up and has made many City of Miami ("City") neighborhoods less affordable; and WHEREAS, according to a study performed by the Florida International University Jorge M. Perez Metropolitan Center (TIU Study"), the City loses approximately 1,200 affordable housing units each year due to increasing cost; and WHEREAS, in accordance with recommendations set forth in the FIU Study, the City should first stem the loss of affordable housing units before creating new units; and WHEREAS, the City's Department of Housing and Community Development's Affordable Rental Preservation Program Policy ("Policy") is designed to help stem the loss of affordable housing units in the City; and WHEREAS, the City's Administration recommends that the Policy be amended, as more particularly described in Exhibit "A," attached and incorporated, in order to allow for property acquisition to preserve affordable housing units; 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 Policy to allow program funds to be used for property acquisition, as more particularly 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, all 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: i ria i ndez, pity Attorney 16/24/2019 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.