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Resolution 78-15670 • RESOLUTION NO. 7S-15670 RESOLUTION AUTHORIZING THE EXECUTION OF AN AGREEMENT FOR PAYMENTS IN LIEU OF TAXES BETWEEN THE CITY OF MIAMI BEACH, FLORIDA, AND MIAMI BEACH HOUSING, INC. WHEREAS, the HOUSING AUTHORITY OF THE CITY OF MIAMI BEACH has entered into an Agreement to Enter Into Housing Assistance Payments Contract with the United States of America acting through the Department of Housing and Urban Development in connection with the financing by Miami Beach Housing, Inc. , (the "Corporation") , of a housing project for elderly persons of lower income in the City of Miami Beach, Florida; and WHEREAS, it is desirable in connection therewith to enter into an Agreement for Payments in Lieu of Taxes with the Corporation in order that payments in lieu of 1 taxes may be made by said Corporation to the City; NOW, THEREFORE, BE IT RESOLVED: BY THE CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AS FOLLOWS : That the Mayor be and he is hereby authorized and directed to execute an Agreement for Payments in Lieu of Taxes between the City of Miami Beach, Florida, and the Corporation and that the City Clerk be and she is hereby authorized and directed to affix the seal of the City of Miami Beach thereto and to attest such seal . That the aforesaid Agreement for Payments in Lieu • of Taxes shall be in substantially the form attached hereto as Exhibit A. PASSED and ADOPTED this 19th , day of July , 1978 . Mayor Attest: City Cl rk AGREEMENT FOR PAYMENTS IN LIEU OF TAXES This Agreement; entered into this 104 day of 9'1A.4/ , 1978, by and between Miami Beach Housing, Inc. (the "Corporation") and the City of Miami Beach (the "City") , WITNESSETH: WHEREAS, under the Constitution and statutes of the State of Florida, the Housing Authority of the City of Miami Beach (the "Authority") is exempt from all real and personal property taxes levied or imposed by any Taxing Body as hereinafter defined; and WHEREAS, the Corporation has financed the con- struction of a 200-unit housing project for elderly persons ti of lower income in the City which the Corporation will own upon completion, which the Corporation will lease to the Authority and which the Corporation will convey to the Authority upon the payment of the bonds issued in order to finance said housing project; NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the Corporation and the City do agree: 1. Wherever used in this Agreement: (a) The term "Project" shall mean the housing project for elderly persons 1. of lower income known as HUD Project No. FL-29-0009- O01. (b) The term "Taxing Body" shall mean the State or any city (including the City) , town, county or political subdivision of the State. (c) The term "Shelter Rent" shall mean the total of all charges to all tenants of the Project for dwelling rents and non-dwelling rents (excluding all other income of such Project) , less the cost to the Authority of all dwelling, and non-dwelling utilities. EXHIBIT A • • 2. The City and the Corporation hereby confirm that the Project is exempt from all real and personal property taxes and special assessments levied by the City. 3. The City agrees that it will not levy or impose any real or personal property taxes upon the Project or upon the Corporation with respect thereto so long as either (a) the Project is used for housing for elderly persons of lower income or (b) the Agreement to Enter into Housing Assistance Payments Contract or the Housing Assistance Payments Contract between the Authority and the Government, in connection with the Project shall remain in force and effect, or (c) any bonds issued in connection with the Project shall remain outstanding, whichever period is the longest. During such period, the Authority shall make annual payments (the "Payments in Lieu of Taxes") in lieu of such taxes and in payment for public services and facilities furnished for or with respect to the Project. Each such annual Payment in Lieu of Taxes shall be made after the end of the fiscal year established for the Project, and shall be in an amount equal to (i) ten percent (10%) of the Shelter Rent charged by the Authority in respect to the Project during such fiscal year or (ii) $9, 500. 00, whichever amount is the lesser. 4. The City shall distribute the Payments in Lieu of Taxes amoung the Taxing Bodies in the proportion which the real property taxes (for the tax year for which such payments 'are made) would have been paid to each Taxing, Body if the Project were not exempt from taxation; provided, however, that no payments for any year shall be made to any Taxing Body (including the City) in excess of the amount of real property taxes for such year which would have been paid to each unit if the Project were not exempt from taxation. 5. If the City shall, within a reasonable time after written notice from the Authority fail or refuse to furnish or cause to be furnished any of the services or facilities which it is obligated, under a duly executed agreement with the Authority, to furnish or cause to be. furnished to the Project, then the Authority from funds provided by the Corporation may proceed to obtain such services or facilities elsewhere and the Corporation may deduct the cost thereof from any Payments in Lieu of Taxes due or to become due in respect to the Project. 6. So long as any contract between the Authority and the Government for housing assistance payments with respect to the Project shall - 2 - 1 remain in force and effect or so long as any bonds issued in connection with the Project shallremain outstanding, this Agreement shall not be abrogated, changed or modified without the consent of the Government. The privileges and obligations of the City hereunder shall remain in full force and effect with respect to the Project so long as the beneficial title to such Project is held by the Corporation or by any other body or agency, including the Government, authorized to engage in the development or administration of the Project. If at any time the beneficial title to or possession of the Project is held by such other body or agency, including the Government, the provisions hereof shall inure to the benefit of and may be enforced by such other body or agency, including the Government. IN WITNESS WHEREOF , the City and the Corporation have respectively caused this Agreement to be duly executed as of the day and year first above written. MIAMI BEACH HOUSING, INC. (SEAL) Attest:0,2 Ul , ') l , Murray��� , President (T tle (Title) (SEAL) CITY OF MI I BEA $ ,Attest: • Mayor (Title) City Clerk (Title) - 3 - • 0 ORIGINAL RESOLUTION NO. 78-15670 (Authorizing agreement for payments in lieu of taxes between CMB and Miami Beach Housing Authority)