Resolution 82-17031 RESOLUTION NO. 82-17031
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, REQUIRING THAT THE
MIAMI BEACH REDEVELOPMENT AGENCY'S REQUEST FOR
BIDS FOR DEVELOPERS CONTAIN A PROVISION
REQUIRING THE SELECTED DEVELOPER TO SET ASIDE A
MINIMUM OF $10 ,000 ,000 . 00 TOWARD SUBSIDIZING
750 UNITS OF LOW AND MODERATE INCOME HOUSING
FOR SENIOR CITIZENS , WHICH SUBSIDY SHALL BE
ABOVE AND BEYOND ANY EXPENDITURES REQUIRED TO
SATISFY THE HOUSING AND BUSINESS RELOCATION
OBLIGATIONS CALLED FOR IN THE PLAN; PROVIDED
THAT IN THE EVENT THE DEVELOPER OR THE AGENCY
OBTAINS SUBSIDIES FOR 750 UNITS OF SUCH LOW AND
MODERATE INCOME HOUSING, THE $10 ,000 ,000. 00
MINIMUM GUARANTEE SHALL BE WAIVED AS A
REQUIREMENT; AND IN THE EVENT THAT SUBSIDIES
ARE OBTAINED FOR FEWER THAN 750 UNITS , THE
$10 , 000 ,000. 00 MINIMUM GUARANTEE MAY BE
REDUCED PROPORTIONATELY BY AN AMOUNT EQUAL TO
THE PERCENTAGE OF $10 ,000 ,000. 00 WHICH THE
NUMBER OF UNITS SO SUBSIDIZED BEARS TO 750.
WHEREAS , the amended and restated redevelopment plan
requires the Miami Beach Redevelopment Agency to provide 750 units
of subsidized housing for low and moderate income persons; and
WHEREAS , the City Commission of the City of Miami Beach
is desirous of assuring that all 750 units will be provided; while
encouraging the Agency to obtain the maximum amount of subsidies;
and
WHEREAS , the Redevelopment Agency is preparing Requests
for Proposal for developers,
NOW, THEREFORE , BE IT DULY RESOLVED BY THE CITY COMMIS-
SION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Miami Beach
Redevelopment Agency' s Request for Bids for Developers contain a
provision requiring the selected developer to set aside a minimum
of $10 ,000 ,000. 00 toward subsidizing 750 units of low and moderate
income housing for senior citizens, which subsidy shall be above
and beyond any expenditures required to satisfy the housing and
business relocation obligations called for in the plan; provided
that in the event the developer or the Agency obtains subsidies for
750 units of such low and moderate income housing , the
$10 ,000 ,000. 00 minimum guarantee shall be waived as a requirement;
and in the event that subsidies are obtained for fewer than 750
units , the $10 ,000 ,000. 00 minimum guarantee may be reduced
proportionately by an amount equal to the percentage of
$10 ,000 ,000. 00 which the number of units so subsidized bears to
750; provided further that no portion of the $10 ,000 , 000 .00 shall
be refunded to the developer until the completion of the required
subsidy of the 750 units, except that any portion of such
$10 ,000 ,000 . 00 may be used to meet said subsidy obligations.
PASSED and ADOPTED this 2nd day of June , 1982 .
./
✓- Vice Mayor
Attest:
APPROVEb
LEGAL DEPARTMENT:
City Clerk ,; Nk
JAR/MLB: j j LJ
Date
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