2002-24912 Reso
RESOLUTION NO. 2002-24912
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE A THIRD AMENDMENT TO THE
HOME INVESTMENT PARTNERSHIPS (HOME) PROGRAM
AGREEMENT, DATED MAY 24, 2000, BETWEEN THE CITY AND
MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION
(MBCDC), PROVIDING $37,027 FROM FISCAL YEAR 2001/02 HOME
CHDO FUNDS PREVIOUSLY ALLOCATED TO MBCDC, TOWARDS
THE COST OF THE ACQUISITION AND REHABILITATION OF NINE
ONE-BEDROOM CONDOMINIUM UNITS, LOCATED AT 7133 BAY
DRIVE, MIAMI BEACH, TO PROVIDE RENTAL HOUSING FOR
INCOME-ELIGIBLE ELDERLY TENANTS IN ACCORDANCE WITH
THE HOME PROGRAM REQUIREMENTS.
WHEREAS, the City has established a HOME Investment Partnerships Program (HOME
Program) under the rules of the U.S. Department of Housing and Urban Development (HUD), which
provides financial assistance for the purpose of providing affordable housing within the City; and
WHEREAS, on April 8, 1993, the Mayor and City Commission approved Resolution No.
93-20756, designating Miami Beach Community Development COlporation (MBCDC) as a qualified
Community Housing Development Organization (CHDO) under the HOME Program; and
WHEREAS, the City has determined the necessity for providing affordable housing in the
City through its Consolidated Plan, adopted by Resolution No. 98-22814 on July 1, 1998; and
WHEREAS, on May 24, 2000, the City adopted Resolution No. 2000-23939, authorizing
a HOME Program Agreement between the City and MBCDC providing $376,400 from the HOME
Program funds towards the acquisition and rehabilitation of seven condominium units in the
Knightsbridge Condominium, to provide rental housing for income-eligible elderly tenants in
accordance with the HOME Program requirements; and
WHEREAS, on September 13, 2000, the City adopted Resolution No. 2000-24055,
executing a first amendment to the HOME Program Agreement between the City and MBCDC
providing an additional $50,000 towards the cost of acquisition and rehabilitation of one additional
one-bedroom condominium unit (unit 601) in the Knightsbridge Condominium, located at 7133 Bay
Drive, Miami Beach, to provide rental housing for income-eligible elderly tenants in accordance with
the HOME Program Requirements; and
WHEREAS, on February 21, 200 1, the City adopted Resolution No. 200 1-24261, executing
a second amendment to the HOME Program Agreement between the City and MBCDC providing
an additional $71,013 towards the cost of acquisition and rehabilitation of one additional one-
bedroom condominium unit (unit 201) in the Knightsbridge Condominium, located at 7133 Bay
Drive, Miami Beach, to provide rental housing for income-eligible elderly tenants in accordance with
the HOME Program requirements; and
WHEREAS, on April 19, 2002, the City's Loan Review Committee reviewed and
recommended the approval of an application from MBCDC for the utilization of HOME CHDO
funds in the amount of $37,027 of fiscal year 2001/2002 HOME Program funds previously allocated
to MBCDC to complete the rehabilitation of the nine units at the Knightsbridge Condominium to
provide rental housing for income-eligible elderly tenants in accordance with the HOME Program
requirements.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Clerk
are hereby authorized to execute a third amendment to the HOME Investment Partnerships (HOME)
Program Agreement, dated May 24, 2000, between the City and Miami Beach Community
Development Corporation (MBCDC), providing $37,027 from fiscal year 2001/02 HOME CHDO
funds previously allocated to MBCDC, towards the cost of the acquisition and rehabilitation of nine
one-bedroom condominium units, located at 7133 Bay Drive, Miami Beach, to provide rental
housing for income-eligible elderly tenants in accordance with the HOME Program requirements.
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CITY CLERK
2002
PASSED AND ADOPTED THIS 10th DAY OF
ATTEST:
Knightsbridge _ ResolutioD_3amendment.doc
APPROVED AS TO
FORM a LANGUAGE
a FOR EXECUTION
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CITY OF MIAMI BEACH
COMMISSION ITEM SUMMARY
m
Condensed Title:
A resolution approving a third amendment to a HOME Program Agreement between the City and MBCDC
providing $37,027 of fiscal year 2001/2002 HOME Program funds previously allocated to MBCDC towards
the cost of acquisition and rehabilitation of nine one-bedroom condominium units, located at 7133 Bay
Drive, to rovide rental housin for income-eli ible elderl .
Issue:
Shall the City provide $37,027 of fiscal year 2001/2002 HOME Program funds previously allocated to
MBCDC towards the cost of acquisition and rehabilitation of nine one-bedroom condominium units, located
at 7133 Ba Drive, to rovide rental housin for income-eli ible elderl .
Item Summary/Recommendation:
MBCDC acquired and rehabilitated nine units at the Knightsbridge Condominium, located at 7133 Bay
Drive. The apartments are currently rented to income-eligible elderly tenants in accordance with the HOME
Program requirements. MBCDC expedited the completion of the rehabilitation by advancing $37,027 of
gap financing for rehabilitation costs. The City has received a request from MBCDC to utilize $37,027 from
fiscal year 2001/2002 HOME Program funds previously allocated to MBCDC as reimbursement for the
rehabilitation costs.
Adviso Board Recommendation:
On April 19, 2002, the Loan Review Committee recommended that the Mayor and City Commission
approve a request from MBCDC for $37,027 of fiscal year 2001/2002 HOME Program funds previously
allocated to MBCDC to com lete the rehabilitation of the nine units at the Kni htsbrid e Condominium.
Financial Information:
Amount to be expended:
HOME
Program
Funds
Finance Dept.
Source of
Funds:
AGENDA ITEM c.. 71)
DATE 7-/t)-() ~
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
www.cLmiami-beach.f1.us
CITY OF MIAMI BEACH
To:
From:
Subject:
COMMISSION MEMORANDUM
Mayor David Dermer and Date: July 10,2002
Members of the City Commission
Jorge M. Gonzalez ,. A ,~'
City Manager G f/VV 0
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY
OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE A THIRD AMENDMENT TO THE HOME
INVESTMENT PARTNERSHIPS (HOME) PROGRAM AGREEMENT,
DATED MAY 24, 2000, BETWEEN THE CITY AND MIAMI BEACH
COMMUNITY DEVELOPMENT CORPORATION (MBCDC), PROVIDING
$37,027 FROM FISCAL YEAR 2001/02 HOME COMMUNITY HOUSING
DEVELOPMENT ORGANIZATION (CHDO) FUNDS PREVIOUSLY
ALLOCATED TO MBCDC, TOWARDS THE ACQUISITION AND
REHABILITATION OF NINE ONE-BEDROOM CONDOMINIUM UNITS,
LOCATED AT 7133 BAY DRIVE, MIAMI BEACH, TO PROVIDE RENTAL
HOUSING FOR INCOME-ELIGIBLE ELDERLY TENANTS IN
ACCORDANCE WITH THE HOME PROGRAM REQUIREMENTS.
ADMINISTRATION RECOMMENDATION
Adopt the Resolution.
ANALYSIS
The City has received an annual allocation of HOME Investment Partnerships (HOME)
Program funds from the U.S. Department of Housing and Urban Development (HUD) since
1992 for the purpose of expanding the supply of housing for persons meeting the income
criteria of the HOME Program. This Program encourages partnerships between the
government and the private sector, including for-profit and not-for-profit organizations for
the acquisition, construction and rehabilitation of housing. The HOME Program requires
the City, in its capacity as a participating jurisdiction, to set aside a minimum of 15 percent
of its annual allocation for a particular type of not-for-profit organization called a Community
Housing Development Organization (CHDO). The CHDO is required to use these funds for
housing development activities in which the CHDO is the owner, sponsor or developer of
the housing. The Miami Beach Community Development Corporation (MBCDC) was
designated as a CHDO in 1993.
July 10, 2002
Commission Memorandum
MBCDC: Knightsbridge Condominium - Third Amendment
Page 2
On May 24, 2000, the City adopted Resolution No. 2000-23939, authorizing a HOME
Program Agreement between the City and MBCDC providing $376,400 of HOME Program
funds towards the acquisition and rehabilitation of seven (7) one-bedroom condominium
units located at the Knightsbridge Condominium, 7133 Bay Drive, Miami Beach, to provide
rental housing for income-eligible elderly tenants in accordance with HOME Program
regulations.
On September 13, 2000, the City adopted Resolution No. 2000-24055, authorizing a First
Amendment to the HOME Program Agreement, dated May 24, 2000, between the City and
MBCDC for an additional $50,000 towards the cost of acquisition and rehabilitation of one
additional one-bedroom condominium unit, at the Knightsbridge Condominium.
Subsequently, on February 21, 2001, the City adopted Resolution No. 2001-24261,
authorizing a Second Amendment to the HOME Program Agreement, for an additional
$71,013 towards the cost of acquisition and rehabilitation of another one-bedroom
condominium unit at the Knightsbridge Condominium.
MBCDC acquired and rehabilitated the nine units at the Knightsbridge, and the apartments
are currently rented to income-eligible elderly tenants in accordance with the HOME
Program requirements. MBCDC expedited the completion of the rehabilitation by advancing
$37,027 of gap financing for rehabilitation costs. The City has received a request from
MBCDC to utilize $37,027 from Fiscal Year 2001/2002 HOME CHDO funds previously
allocated to MBCDC as reimbursement for the rehabilitation costs.
. On April 19, 2002, the Loan Review Committee recommended that the Mayor and City
Commission approve a request from MBCDC for $37,027 in fiscal year 2001/2002 HOME
Program funds to complete the rehabilitation of the nine units at the Knightsbridge
Condominium.
The Administration recommends that the Mayor and City Commission authorize a Third
Amendment to the HOME Investment Partnerships (HOME) Agreement, dated May, 24,
2000, between the City and Miami Beach Community Development Corporation (MBCDC),
providing $37,027 from Fiscal Year 2001/2002 HOME CHDO funds previously allocated to
MBCDC, towards the cost of the acquisition and rehabilitation of nine one-bedroom
condominium units, located at 7133 Bay Drive, Miami Beach, to provide rental housing for
income- gibleelderly tenants in accordance with the HOME Program requirements.
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~~I~I slngIMIGUELL 1M '!?"9~~TSeRIDGE THIRD AMEND MEMO .doc
THIRD AMENDMENT TO HOME PROGRAM AGREEMENT
THIS THIRD AMENDMENT TO THE AGREEMENT, entered into this~'tIay of #,2002,
by and between the CITY OF MIAMI BEACH, a Florida municipal cotporation, having its principal
office at 1700 Convention Center Drive, Miami Beach, Florida, (City), and MIAMI BEACH
COMMUNITY DEVELOPMENT CORPORATION, INC., a Florida Not-for-Profit Cotporation,
with offices located at 945 Pennsylvania Avenue, Miami Beach, Florida (hereinafter referred to as
Owner).
WITNESSETH:
WHEREAS, on May 24, 2000, the City adopted Resolution No. 2000-23939, authorizing a
HOME Program Agreement between the City and MBCDC providing $376,400 from the HOME
Program funds towards the acquisition and rehabilitation of seven condominium units in the
Knightsbridge Condominium, to provide rental housing for income-eligible elderly tenants in
accordance with the HOME Program requirements; and
WHEREAS, on September 13, 2000, the City adopted Resolution No. 2000-24055, executing
a first amendment to the HOME Program Agreement between the City and MBCDC providing an
additional $50,000 towards the cost of acquisition and rehabilitation of one additional one-bedroom
condominium unit (unit 601) in the Knightsbridge Condominium, located at 7133 Bay Drive, Miami
Beach, to provide rental housing for income-eligible elderly tenants in accordance with the HOME
Program Requirements; and
WHEREAS, on February 21,2001, the City adopted Resolution No. 2001-24261, executing
a second amendment to the HOME Program Agreement between the City and MBCDC providing an
additional $71,013 towards the cost of acquisition and rehabilitation of one additional one-bedroom
condominium unit (unit 201) in the Knightsbridge Condominium, located at 7133 Bay Drive, Miami
Beach, to provide rental housing for income-eligible elderly tenants in accordance with the HOME
Program requirements; and
WHEREAS, on April 19, 2002, the City's Loan Review Committee reviewed and
recommended the approval of an application from MBCDC for the utilization of HOME CHDO funds
in the amount of $37,027 of fiscal year 2001/2002 HOME Program funds previously allocated to
MBCDC to complete the rehabilitation of the nine units at the Knightsbridge Condominium to provide
rental housing for income-eligible elderly tenants in accordance with the HOME Program requirements.
WHEREAS, Owner warrants and represents that it possesses the legal authority to enter into
this Agreement, by way of a resolution that has been duly adopted as an official act of the Board of
Directors, authorizing the execution of this Agreement, including all understandings and assurances
contained herein, and authorizing the person(s) identified as their official representative(s) to execute
this Agreement and any other documents which may be necessary to implement this project; and
WHEREAS, the City and the Owner now wish to amend the Agreement.
1
NOW, THEREFORE, in consideration of the promises and of the mutual covenants and
agreements hereinafter set forth, the parties hereto do hereby agree as follows;
1. ARTICLE II, ALLOCATION OF HOME FUNDS, page 2, is hereby deleted in its entirety and
amended as follows:
In consideration of the performance by Owner of its role and responsibilities set forth
in this Agreement, the City agrees to provide a conditional grant of HOME Program funds to
Owner in the amount of Five Hundred Thirty-Four Thousand Four Hundred Forty Dollars
($534,440) (Funds) from Fiscal Year 1997/98, Fiscal Year 1998/99, Fiscal Year 1999/2000,
Fiscal Year 2000/2001, and Fiscal Year 2001/2002.
The Funds will be utilized by Owner for a CHDO project that provided for the
acquisition and rehabilitation of condominium units, known as units 304, 401, 403, 501, 701,
704,705,601, and Unit 201 ofthe Knightsbridge Condominium, located at 7133 Bay Drive,
Miami Beach, that will provide 9 rental units for income qualified elderly families and
individuals. Owner will acquire and rehabilitate the condominium units as more fully described
in the Scope of Services (Exhibit A) and Budget (Exhibit B). Owner will maintain required
HOME Program rent and occupancy limitations for a minimum period of 15 years (the
Affordability Period) commencing with the issuance of the final approved Certificate of
Completion by the City's Building Department following the planned rehabilitation.
2. ARTICLE XXX, LIMITATION OF LIABILITY, page 15, is hereby deleted in its entirety and
amended as follows:
The City desires to enter into this Agreement only if in so doing the City can place a limit on
the City's liability for any cause of action for money damages due to an alleged breach by the
City of this Agreement, so that its liability for any such breach never exceeds the sum of
$534,440. Owner hereby expresses its willingness to enter into this Agreement with Owner's
recovery from the City for any damage action for breach of contract to be limited to a maximum
amount of $534,440. Accordingly, and notwithstanding any other term or condition of this
Agreement, Owner hereby agrees that the City shall not be liable to Owner for damages in an
amount in excess of $534,440, for any action or claim for breach of contract arising out ofthe
performance or non-performance of any obligations imposed upon the City by this Agreement.
Nothing contained in this paragraph or elsewhere in this Agreement is in any way intended to
be a waiver of the limitation placed upon the City's liability as set forth in Florida Statutes,
Section 768.28.
3. The existing EXHIBIT A, SCOPE OF SERVICES, is deleted in its entirety, and is replaced by
the revised EXHIBIT A TO SECOND AMENDMENT TO HOME PROGRAM
AGREEMENT, SCOPE OF SERVICES, reflecting the adjustments in the description and
number of units to be acquired and rehabilitated.
2
4. The existing EXHffiIT B, BUDGET, is deleted in its entirety, and is replaced by the revised
EXHIBIT B TO SECOND AMENDMENT TO HOME PROGRAM AGREEMENT, BUDGET,
reflecting the adjustments in the HOME Program funds from the City of Miami Beach.
5. Except as amended by this Amendment, no term or condition of the Agreement shall be
modified and the same shall remain in full force and effect; provided, however, if any revision
of this Amendment is in conflict with, or inconsistent with, any information in the Agreement,
the provision contained in this Amendment shall govern and control.
6. This Amendment shall be binding upon and shall inure to the benefit of the respective
successors and assigns of the parties hereto.
IN WITNESS WHEREOF, the parties hereto executed this Amendment as of the day and date
first above written.
ATTEST:
MIAMI BEACH COMMUNITY
DEVELOPMENT CORPORATION
a Florida not-for-profit corporation
~.~-
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esident, Authorized Signatory
Secretary
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Mayor
ATTEST:
City Clerk
P,IDDHPlSALLISUSAN\MBCDCRENIICNIGHTSBIAMENAGR2.WPD
APPROVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
3
EXHIBIT A TO SECOND AMENDMENT TO HOME PROGRAM AGREEMENT
SCOPE OF SERVICES
1. Name/Address of Project:
Knightsbridge Condominium Units
7133 Bay Drive
Miami Beach, Fl 33141
2. Legal Description:
The Knightsbridge Condominium, Unit 304
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 401
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 403
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 501
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 701
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 704
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 70S
and an Undivided 2.2% interest in Common Elements, according .to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 601
and an Undivided 2.2% interest in Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
The Knightsbridge Condominium, Unit 201
and an Undivided 2.2% interest In Common Elements, according to the Declaration of
Condominium thereof, as recorded in Official Records Book 16776, at Page 2016 of the Public
Records of Miami-Dade County, Florida.
3. Building and Site Characteristics
MBCDC acquired nine condominiums at the Knightsbridge Condominium located at 7133 Bay Drive.
The purchase price of units 304, 401, 403, 701, 704, and 705 was $55,120 each, the purchase price of
unit 501 was 56,180, the purchase price of unit 601 was $52,470, and the purchase price of unit 201 was
$63,500 for a total purchase price of all eight units of$502,870. There is one resident in a unit who is
expected to be eligible to remain. The other units are vacant. The building was constructed in 1969
and is located on Normandy Isle. Each one-bedroom unit has a total area of 900 square feet. All units
are in excess of the minimum City requirement of 400 square feet and the average size of the units is
more than the City requirement of 550 square feet. MBCDC is proposing to rehabilitate the units with
no changes to the room layouts.
The units were in foreclosure and were auctioned on March 31, 2000. MBCDC was successful in
bidding on seven units. Additionally, the foreclosure court granted Owner an extension of ninety days
to close. Owner was able to acquire an additional unit that became available when another bidder failed
to close on the unit. Subsequently, MBCDC found out that Unit 201 was on the market. Fair Market
Value of the units has been established at $57,000 for units 304 and 401, $64,000 for unit 201, and the
value of the other six units was established at $60,000 each.
4. All of these nine units will be HOME-assisted for the elderly, including those with special
needs, and carry restricted rent and tenant income restrictions for the duration of the 15-year
affordability period.
5. Proposed Elements of Construction
The proposed scope of work, based on a preliminary evaluation, consists of moderate rehabilitation
which includes, but is not limited to: replacement of appliances, upgrade of air-conditioning, repair of
kitchen and bathroom cabinets, and the installation of grab-bars in the bathrooms.
6. The following procedures must be followed, prior to the commencement of work on the project:
(a) Each contractor and/or subcontractor must be found to be eligible to work on a fedem1ly
funded project. The names submitted will be checked against the monthly listing "Consolidated
List of Debarred, Suspended & Ineligible Contractors and Grantees" published by the Federal
Government.
(b) A set of final approved plans and specifications for the project approved by the City's
Building Department must be submitted to the Housing Division of the City's Neighborhood
Services Department.
(c) Building permits must be obtained as required by applicable City Ordinance. Also, any
other necessary permits and applicable approvals from any other governmental authorities must
be obtained, if required.
(d) A copy of the contract between Owner and a licensed General Contractor must be
submitted to the City which includes commencement and completion dates, contract amount,
scope of work, Federal Labor Standards Provisions (BUD Form 4010, if applicable), and
applicable federal regulations and standards.
(e) The General Contractor selected must submit evidence prior to the commencement of
work, satisfactory to the City's Insurance Manager, of the following insurance coverage: 1)
Liability insurance against claims arising out of accident or occurrence on the property, in a
minimum amount of $1,000,000. The City of Miami Beach must be named as additional
insured in the policy; and 2) Proof of worker's compensation coverage; and such other forms of
insurance as the City's Risk Manager may reasonably require.
(f) A revised cost breakdown, to include direct and indirect costs of the proposed work,
based on the actual contract price.
When the above requirements have been met, the Neighborhood Services Department and the Building
Department will jointly issue a "Notice to Proceed" on the project. If Owner or contractor does not fully
comply, or if any work commences prior to the issuance of the Notice to Proceed, then such work may,
at the discretion ofthe City, constitute a default under this Agreement.
Exceotion: Subject to the prior approval of the Neighborhood Services Department and the
Building Department, emergency repairs can be undertaken on the Project.
7. Owner's General Contractor shall be responsible for compliance with all pollution and asbestos
control standards of the concerned governmental agencies. It shall be the Contractor's responsibility
to obtain required inspections from these agencies.
8. Federal regulations require that all tenants in housing rehabilitated with federal funds, be
provided with information on the following: that the property may contain lead-based paint; of the
hazards, symptoms and treatment for ingestion oflead-based paint; of the precautions to be taken; of
the availability of blood level screening for children under seven years of age; and that in the event
lead-based paint is found in the property, appropriate abatement procedures must be undertaken by
owners. Copies of a brochure will be provided to Owner by the City. This information must be
provided by Owner to each tenant, and Owner must retain evidence of having provided this notification
to the tenant in a file for the life of this Agreement.
9. After the property has been rehabilitated, it must conform to the applicable codes, ordinances
and statutes of the City and of Miami-Dade County, including, but not limited to, the South Florida
Building Code, the Zoning Ordinance, and the Property Maintenance Standards.
10. Owner agrees that it will develop an affirmative marketing plan, with concurrence from the City,
that will comply with the City's adopted affirmative marketing procedures and requirements for projects
containing 5 or more HOME-assisted housing units. Owner shall implement an affirmative marketing
program that provides information to, and attracts eligible persons in the housing market area to the
available housing receiving assistance from HOME funds, without regard to race, color, national origin,
religion, sex, sexual orientation, handicap, marital status, familial status, or age. The affirmative
marketing requirements and procedures adopted by Owner shall include, but not necessarily be limited
to, the following:
a. Methods to promote greater choice of housing opportunities;
b. Practices for marketing vacant units that will affirmatively further fair housing (e.g., use
of commercial media, use of community contacts, use of the Equal Housing Opportunity
logotype or slogan, and display of fair housing poster);
c. Special outreach efforts to inform and solicit applications from persons in the housing
market area who are not likely to apply for the housing without special outreach and advertising
efforts (e.g., use of community organizations including, but not limited to: places of worship,
employment centers, community centers, fair housing groups, housing counseling agencies,
community development corporations, and the Housing Authority of the City of Miami Beach).
The City shall provide a list of potential outreach sources to Owner;
d. Maintenance of records describing actions taken to affirmatively market units and
records to assess the results of these actions, including newspaper clippings of all vacant units
advertised, copies of brochures, pamphlets, and articles used in advertising units, lists of
community organizations used in disseminating information, records of referrals and the results
of these referrals, and documentation of any other special outreach activities conducted.
e. A certification that states that the Owner agrees to adhere to any corrective actions the
City requires if affirmative marketing requirements are not met.
11. Proj ect Development Schedule
Closing Date
Commence Construction
Complete Construction
Lease-up
March, 2001
March,200l
October, 2001
December, 2001
EXHIBIT B TO SECOND AMENDMENT TO HOME PROGRAM AGREEMENT
BUDGET
SOURCES AND USES OF FUNDS
KNIGHTSBRIDGE CONDOMINIUM UNITS
7133 BAY DRIVE
ESTIMATED SOURCES OF FUNDS
City of Miami Beach
First Mortgage Financing (Commercebank)
USES OF FUNDS
Acquisition of Property
Closing Costs
Rehabilitation
Developer's Fee
$534,440
70.000
$502,870
41,530
48,715
11.325
$604,440
$604,440