Amendment No. 1 to SHIP Agreement with MBCDC/The Jefferson, Inc. FY 14/15 Amendment No. 1 to SHIP Agreement Fiscal Year 2014-2015
Between the City of Miami Beach,
Miami Beach Community Development Corporation,
and
MBCDC/The Jefferson, Inc.
This Amendment No. 1 (the "Amendment") to the Agreement for FY 2014-2015 SHIP
funds (the "Agreement"), dated July 11, 2016, is made this I day of , 20167
between the City of Miami Beach (City), a Florida municipal corporation having its principal
office at 1700 Convention Center Drive, Miami Beach Florida, Miami Beach Community
Development Corporation (MBCDC), a Florida not-for-profit corporation, and MBCDC/The
Jefferson, Inc. (The Jefferson), a Florida not-for- profit corporation each having their principal
office located at 945 Pennsylvania Avenue, Miami Beach, Florida.
WITNESSETH
WHEREAS, the State Housing Initiatives Partnership (SHIP) Program, administered
through the Florida Housing Finance Corporation, was established by the 1992 William E.
Sadowski Affordable Housing Act to stimulate the production of housing Statewide; and
WHEREAS, the Jefferson Apartments is in need of rehabilitation including the
replacement of its roof, the replacement of an air conditioning unit located on the roof, and
upgrades and repairs to the nine units located on the building's third floor; and
WHEREAS, MBCDC and The Jefferson requested $91,955 in FY 2014/2015 SHIP funds
for the needed repairs to the Jefferson Apartments; and
WHEREAS, the use of SHIP funds will enable the City to extend the affordability period
for the Jefferson Apartments by 30 years, thereby ensuring its ongoing use as affordable
housing for those with the lowest income; and
WHEREAS, on June 10, 2015, the Mayor and City Commission adopted Resolution No.
2015-29051 approving and authorizing the allocation of $91,955 of funds from FY 2014/2015
SHIP funds used in the repairs to the Jefferson Apartments; and
WHEREAS, the project cannot be completed within the current term and the parties wish
to extend the term for an additional six (6) months.
NOW, THEREFORE, in consideration of the mutual promises contained herein, the
parties the parties agree to amend the Agreement as follows:
1. Modification
Article IX (a) and (b) of the Agreement, are hereby amended (deleted items
ctrikethrough and inserted items underlined) as follows:
(a): The SHIP Funds allocated for Fiscal Year 2014/2015, in the amount of
$91,955, are to be used by November 30, 2015 May 31, 2017.
Page 1 of 2
(b): The Funds must be expended by November 30, 2015 May 31, 2017. Upon
expiration of the Agreement, any unused portions will revert to the City.
2. Ratification
The City, MBCDC, and The Jefferson wish to reaffirm the terms and conditions of the
Agreement, as amended. In the event there is a conflict between the provisions of this
Amendment and the Agreement, the provisions of the Amendment shall govern.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by
their appropriate officials, as of the date first entered above.
MIAMI BEACH COMMUNITY
ATTEST: DEVELOPMENT CORPORATION, INC.
A Florida not-for-profit corporation
/2'
:eatriz Cuenca-Barberio Corn_ I - s, Chairman
Executive Director
ATTEST: MBCDC/THE JEFFERSON, INC.
a Florida not-for-profit corporation
a/k/a MBCDC/THE JEFFERSON
CORPORATION
Sign Sign
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Print Name/Title , Print Name/Title
CITY OF MIAMI B ACH
ATTEST:
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Rafae E. Granado,City �,e$: '�; - 0 Jim y L. M• ales, City Manager
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