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Home My WebLink About2005-26065 Reso RESOLUTION NO. 2005-26065 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE ATTACHED HOME INVESTMENT PARTNERSHIPS (HOME) PROGRAM AGREEMENT WITH MBCDC: WESTCHESTER APARTMENTS LLC., AS SUCCESSOR IN INTEREST, PURSUANT TO A ONE-TIME ONLY ASSIGNMENT APPROVED PURSUANT TO RESOLUTION NO. 2005-25814, TO THE MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION (MBCDC), PROVIDING $522,493 OF HOME PROGRAM FUNDS FOR THE REHABILITATION OF THE WESTCHESTER APARTMENTS, LOCATED AT 516 15TM STREET, MIAMI BEACH, TO PROVIDE 24 RENTAL UNITS FOR INCOME-ELIGIBLE PARTICIPANTS IN ACCORDANCE WITH' THE HOME PROGRAM REQUIREMENTS. WHEREAS, on February 18, 1992, the City was designated by the U.S. Department of Housing and Urban Development (HUD) as a Participating Jurisdiction to receive funds through the HOME Investment Partnerships (HOME) Program under 24 CFR 92; and WHEREAS, the City has established a HOME Program under the rules of 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 Corporation (MBCDC) as a qualified Community Housing Development Organization (CHDO) under the HOME Program; and WHEREAS, in accordance with the HOME Program regulations, the City must reserve a minimum of fifteen (15) percent of each fiscal year's HOME allocation for a CHDO set-aside for investment in housing to be developed, sponsored or owned by a designated CHDO; and WHEREAS, on July 18, 2001, the City Commission approved Resolution No. 2001- 24517, which adopted the City of Miami Beach One-Year Action Plan for Federal Funds for Fiscal Year 2001/2002, and allocated $800,000 in HOME Program funds to MBCDC, of which $207,473 remains available for MBCDC to commit to a project; and WHEREAS, on July 31,2002, the City Commission approved Resolution No. 2002- 24948 which adopted the City of Miami Beach One-Year Action Plan for Federal Funds for Fiscal Year 2002/2003, which allocated $800,000 in HOME Program funds to MBCDC; and WHEREAS, on July 2, 2003, the City Commission approved Resolution No. 2003- 25259 which approved MBCDC's request to the City to utilize $1,007,473 of the previously allocated Fiscal Year 2001/2002 and Fiscal Year 2002/2003 CHDO funds for a CHDO project to acquire and rehabilitate the apartment building known as the Westchester Apartments, located at 516 15th Street, Miami Beach (the Project); and Agenda Item ~ '7 Date /~-?-0~ WHEREAS, on April 20, 2005, the City Commission approved Resolution No. 2005- 25864, which awarded $298,218 of HOME Notice of Funding Availability (NOFA) funds to MBCDC, for the rehabilitation the Project; and WHEREAS, on July 18, 2005, the City published a NOFA for HOME Program funds, in the amount of $522,493, to be used for acquisition and/or rehabilitation of existing multi- family buildings containing four or more units, for the purpose of the provision of affordable r. ental housing; and WHEREAS, on September 9, 2005, the Loan Review Committee reviewed the NOFA application submitted by MBCDC for the Project, and recommended that the City Commission approve and award the HOME Program funds, in the full requested amount of $522,493; and WHEREAS, MBCDC has created a not-for-profit entity which has assumed all interest and title to the property located at 516 15th Street and is a successor in interest to MBCDC for the Project; and WHEREAS, accordingly, the City, in Resolution 2005-25864, agreed and consented to a one-time only assignment of MBCDC's rights and obligations for the Project to MBCDC: Westchester Apartments, LLC; and WHEREAS, the Administration would hereby recommend that the Mayor and City Commission approve and authorize the Mayor and City Clerk to execute a HOME Investment Partnerships (HOME) Agreement with MBCDC: Westchester Apartments LLC, as successor in interest to MBCDC for the Project. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission authorize the Mayor and City Clerk to execute the attached HOME Program Agreement with MBCDC: Westchester Apartments LLC., as successor in interest, pursuant to a one-time only assignment approved pursuant to Resolution No. 2005-25814, to the Miami Beach Community Development Corporation (MBCDC), providing $522,493 of HOME Program funds for the rehabilitation of the Westchester Apartments, located at 516 15th Street, Miami Beach, to provide 24 rental units for income-eligible participants in accordance with the HOME Program requirements. PASSED AND ADOPTED THI.S 7th DAY OF December ,2005 ATTEST: CITY CLERK Robert Parcher David Dermer TSAGENDA~2005\Dec0705\Consent\523k NOFA Westchester Apartments_Resolution2.doc APPROVED AS TO & FOR EXECUTION - CityWAttome~'~ Date COMMISSION ITEM SUMMARY Condensed Title: A Resolution of the Mayor and City Commission of the City of Miami Beach, Florida, authorizing the Mayor and City Clerk to execute the attached HOME Investment Partnerships (HOME) Program Agreement with the Miami Beach Community Development Corporation (MBCDC), providing $522,493 of HOME Program funds for the rehabilitation of the Westchester Apartments, located at 516 15th Street, Miami Beach, to provide 24 rental units for income-eligible participants in accordance with the HOME Program requirements; further, approving a one time only assignment of this Agreement to MBCDC: Westchester Apartments, LLC, a not for profit entity created by MBCDC as a successor in interest in title to the property located at 516 15th Street, and under this Agreement. Key Intended Outcome Supported' IIncrease access to workforce or affordable housing. Issue: IShall the City enter into a HOME Program Agreement which provides $522,493 of HOME Program funds for the rehabilitation of the Westchester Apartments, located at 516 15th Street, Miami Beach, to provide 24 rental units for income eligible participants in accordance with the HOME Program requirements? Item Summary/Recommendation: On August 12, 2005, MBCDC responded to a City of Miami Beach NOFA by submitting a request for HOME Program funds toward the cost of rehabilitation of the Westchester Apartments, located at 516 15th Street to provide 24 rental units for income-eligible participants in accordance with the HOME Program requirements. The request was favorably reviewed by administration and recommended for funding. , Advisory Board Recommendation: IOn September 9, 2005, the Loan Review Committee (LRC) reviewed and recommended approval by the City Commission for MBCDC to be awarded funds toward the cost of rehabilitation of the Westchester Apartments, located at 516 15th Street to provide 24 rental units for income-eligible participants in accordance with the HOME Program requirements. Financial Information: Source of Amount Account Approved Funds: 1 522,493 151 5903 000 349 HOME 2 Program 3 · 4 OBPI TOtal Financial Impact Summary: City Clerk's Office Legislative Tracking: Vivian P. Guzman Sign-Offs: I Department Director AsSistant city Manager T:~AGEN[~05~ec0705\Consent\523K_NOF~v_HOM E_S u mmary.doc CitY Manager MiAMIBE.ACH AGENDA ITEM DATE /,2 M AM! BE:A,CH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov COMMISSION MEMORANDUM TO: FROM: DATE: SUBJECT: Mayor David Dermer and Members of the City Commission City Manager Jorge M. Gonzalez December 7, 2005 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE THE ATTACHED HOME INVESTMENT PARTNERSHIPS {HOME) PROGRAM AGREEMENT WITH THE MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION (MBCDC) PROVIDING $522,493 OF HOME PROGRAM FUNDS FOR THE REHABILITATION OF THE WESTCHESTER APARTMENTS, LOCATED AT 51615TH STREET, MIAMI BEACH, TO PROVIDE 24 RENTAL UNITS FOR INCOME-ELIGIBLE PARTICIPANTS IN ACCORDANCE WITH THE HOME PROGRAM REQUIREMENTS; FURTHER, APPROVING A ONE TIME ONLY ASSIGNMENT OF THIS AGREEMENT TO MBCDC: WESTCHESTER APARTMENTS, LLC, A NOT FOR PROFIT ENTITY CREATED BY MBCDC AS A SUCCESSOR IN INTEREST IN TITLE TO THE PROPERTY LOCATED AT 516 15TH STREET, AND UNDER THIS AGREEMENT. ADMINISTRATION RECOMMENDATION Adopt the Resolution. ANALYSIS On July 2nd, 2003, the City Commission approved Resolution No. 2003-25259, which authorized MBCDC's request to purchase the Westchester Apartments, located at 516 15th Street, Miami Beach, utilizing $1,007,473 HOME Program funds previously committed to MBCDC for the acquisition and rehabilitation of the Westchester Apartments ($207,473 from FY 01/02 and the $800,000 from FY 02/03)in order to provide 24 rental units for income- eligible participants in accordance with HOME Program requirements. On April 20th, 2005, the City Commission approved Resolution No. 2005-25864, which awarded $298,218'of HOME NOFA funds to MBCDC, for the rehabilitation the Westchester Apartments. In addition, MBCDC is receiving funding from Miami-Dade County in the amount of $800,000, and City of Miami HOPWA Program funds in the amount of $296,491. MBCDC has secured private financing of $367,117 (1st Mortgage), and has apPlied for $750,000 in funding from the Miami-Dade County Homeless Trust. The total cost of the project is estimated at $4,041,792. On July 18, 2005, the City of Miami Beach Neighborhood Services Department, Housing and Community Development Division issued a Notice of Funding Availability (NOFA) for HOME Program funds in the amount of $522,493, to be used for acquisition and/or rehabilitation of existing multi-family buildings containing four or more units, for the purpose of the provision of affordable rental housing. The NOFA was advertised in The Miami Herald on July 15th and 17th, 2005. In addition, notification of the NOFA was provided to 30 interested housing Page 2 of 2 Commission Memorandum December 7, 2005 providers via direct mailing. As of September 9th, 2005, MBCDC was the sole respondent to the NOFA. Staff reviewed the application, and found it eligible for funding. The property contains a three-story Mediterranean revival structure built in 1926 consisting of approximately 10,420 square feet. The building currently is configured into 30 apartments, of which six are one-bedroom units and 24 are efficiency units. In accordance with the report from the architect, Arthur J. Marcus Architect P.A., the 24 efficiency units were reconfigured to comply with the City's average square foot planning and zoning requirement for residential units. Therefore, the resulting reconfiguration will be approximately 12 one-bedroom apartment units and 12 efficiency units. The units will be rented to income-eligible participants qualifying under the HOME Program requirements. The proposed scope of work, based on a preliminary evaluation, included the following: reconstruction of the front porch with side wing walls and historic fa(;ade renovation, repairs of spalled concrete, roof repairs and reconstruction of fire damaged roof area, new windows and doors, exterior paint, repair and replace deteriorated wood structural members, new non-load bearing construction with new mechanical, electrical, plumbing and fire sprinkler systems. In order to comply with ADA requirements, MBCDC is planning to request a waiver for the accessibility ramps because of insufficient space. However, MBCDC will comply with all other ADA requirements. The building is vacant and no tenants will be relocated. On September 9, 2005, the Loan Review Committee reviewed the NOFA application submitted by MBCDC for the Westchester Project, and has recommended approval by the City Commission to award HOME Program funds in the full requested amount of $522,493. The Administration recommends that the Mayor and City Commission authorize the Mayor and City Clerk to execute the attached HOME Investment Partnerships (HOME) Program Agreement with the Miami Beach Community Development Corporation (MBCDC) providing $522,493 of HOME Program funds for the rehabilitation of the Westchester Apartments, located at 516 15th Street, Miami Beach, to provide 24 rental units for income-eligible participants in accordance with the HOME Program requirements; further, approving a one time only assignment of this agreement to MBCDC: Westchester Apartments, LLC, a not-for- profit entity created by MBCDC as a successor in interest in title to the property located at 516 15th Street, and under this Agreement. [~/VPG/'I'U/EJB T:~AGENDA~005\Dec0705\Consent\523K_NOFA_HOM E.doc