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Home My WebLink About2006-26163 Reso RESOLUTION NO. 2006-26163 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A HOME INVESTMENT PARTNERSHIPS (HOME) PROGRAM AGREEMENT WITH THE MBCDC: ~ESTCHESTER APARTMENTS, LLC, AS THE APPROVED ASSIGNEE TO MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION (MBCDC), PROVIDING $300,000 OF FISCAL YEAR 2004/05 HOME PROGRAM SET- ASIDE 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. 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 Investment Partnerships Program (HOME Program) under the rules of the U.S. Department of Housing and Urban Development (U.S. 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 2, 2003, the Mayor and 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 WHEREAS, on July 28, 2004, the Mayor and City Commission approved Resolution No. 2004-25641 which adopted the City of Miami Beach One-Year Action Plan for Federal Funds Fiscal Year 2004/2005 allocating $800,000 HOME Investment Partnerships (HOME) Program funds to Miami Beach Community Development Corporation (MBCDC) of which $300,000 remains available for MBCDC to commit to a project; and WHEREAS, on April 20, 2005, the Mayor and City Commission approved Resolution 2005-25864, which awarded $298,218 of Fiscal Year 2003/04 HOME Program funds to MBCDC for rehabilitation of the Project; and, accordingly, agreed and consented to a one- time only assignment of MBCDC's rights and obligations for the Project to MBCDC: Westchester Apartments, LLC, a not for profit limited liability corporation created by MBCDC as a successor in interest and title to the Westchester Apartments Property; and WHEREAS, on December 7, 2005, the Mayor and City Commission approved Resolution No. 2005-26065, which awarded $522,493 of HOME Program funds to MBCDC for rehabilitation of the Project; and WHEREAS, on March 31, 2006, the City's Loan Review Committee reviewed a request submitted by MBCDC for the Project, and recommended that the Mayor and City Commission approve and award HOME Program Set-Aside funds, in the full requested amount of $300,000; and WHEREAS, the Administration would hereby recommend that the Mayor and City Commission approve and authorize the Mayor and City Clerk to execute the attached 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 Clerk are hereby authorized to execute a HOME Investment Partnerships (HOME) Program agreement with MBCDC: Westchester Apartments LLC, as the approved assignee to Miami Beach Community Development Corporation (MBCDC), providing $300,000 of HOME Program Set-Aside funds from fiscal year 2004/05 to MBCDC 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 THIS 11th DAY OF April ,2006 ~~~~, p~ David Dermer ATTEST: CITY CLERK Robert Parcher MAYOR T:\AGENDAI2006\aprll06\consent\300k CR Westchester Apartments Resolution.doc APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION IJ- /()-C~ J- Date COMMISSION ITEM SUMMARY Condensed Title: A Resolution 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 $300,000 of HOME Program Set-Aside 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 AQreement. Ke Intended Outcome Su orted: Increase Access to workforce or affordable housing. Issue: Shall the City enter into a HOME Program Agreement which provides $300,000 of HOME Program Set-Aside 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 ProQram reauirements? Item Summa IRecommendation: MBCDC has expended $500,000, of its $800,000, FY 2004/05 HOME CHDO Set-Aside funds for the acquisition of Villa Maria Apartments; there remains a balance of $300,000, of Set-Aside Funds. On March 6, 2006, MBCDC requested $300,000 of HOME Program Set-Aside 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. Total funding for this project, from all sources (City of Miami Beach, City of Miami, Miami-Dade County and private bank financing), amounts to $4,060,075. The renovation cost for the 12,760 square foot project is $2,101,160 which comes to $165 per square foot or $87,548 per unit. The request was favorably reviewed b Administration and recommended for fundin Adviso Board Recommendation: On March 31, 2006, 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 artici ants in accordance with the HOME Pro ram re uirements. Financial Information: Source of Amount Account Approved Funds: 1 $300,000 151-5233- 000349 D 2 3 4 aSPI Total $300,000 FinanciallmDact Summary: City Clerk's Office Legislative Tracking: I Vivian P. Guzman Si n-Offs: Department Director Assistant City Manager T:\AGENDA\2006\apr1106\consent\300k CR Westchester Summary.doc m ~ MIAMI BEACH AGENDA ITEM DATE C.7G- Cf-t (-ocP lD MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeochA.gov COMMISSION MEMORANDUM TO: Mayor David Dermer and Members of the City Commission Jorge M. Gonzalez, City Manager For-- .JMG A . '-- FROM: DATE: April 11 , 2006 SUBJECT: 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 $300,000 OF FISCAL YEAR 2004/05 HOME PROGRAM SET - ASIDE 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. ADMINISTRATION RECOMMENDATION Adopt the Resolution. ANALYSIS Miami Beach Community Development Corporation (MBCDC) through City Commission approval, Resolution No. 2003-25259, granted MBCDC's request to purchase the Westchester Apartments, located at 516 15th Street, Miami Beach, utilizing $1,007,473 in HOME Program funds previously allocated to MBCDC, to acquire and rehabilitate the Westchester Apartments (the Project) ($207,473 from FY 01/02 and the $800,000 from FY 02/03). Additional funding for this project was provided as follows: On April 20, 2005, the City Commission approved Resolution No. 2005-25864, which awarded $298,218 of HOME NOFA funds to MBCDC, for the rehabilitation of the Project, and approved and consented to a one-time only assignment of MBCDC's rights and obligations for the Project to MBCDC: Westchester Apartments LLC. On December 20, 2005, the City Commission approved Resolution No. 2005-25864, which awarded $522,493 of HOME NOFA program funds to be used for rehabilitation of the Project. MBCDC is the designated CHDO for Miami Beach. A CHDO is a private nonprofit, community-based service organization whose primary purpose is to provide and develop decent, affordable housing for the community it serves. Certified CHDOs receive certification indicating that they meet certain HOME Program requirements and therefore are eligible for HOME funding. MBCDC receives an annual set-aside of $800,000 for certification as our local CHDO. MBCDC has expended $500,000 of its $800,000 FY 2004/05 HOME CHDO Set-Aside funds for the acquisition of Villa Maria Apartments; there remains a balance of $300,000 of Set-Aside funds. MBCDC has requested these funds for the rehabilitation of the Project. The property contains a three-story Mediterranean revival structure built in 1926, which is listed as having 10,420 square feet, according to County tax rolls. The square footage, after renovations and actual measurement will be 12,760. 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 spa lied 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. Total funding for this project, from all sources (City of Miami Beach, City of Miami, Miami- Dade County, and private bank financing), amounts to $4,060,075. The renovation cost for the 12,760 square foot project is $2,101,160 which comes to $165 per square foot or $87,548 per unit. On March 31,2006, the Loan Review Committee reviewed MBCDC's request for $300,000 of HOME Set-Aside funds for the Project, and has recommended approval by the City Commission to award HOME Program Set-Aside funds in the full requested amount of $300,000. 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 $300,000 of Fiscal Year 2004/05 HOME Program Set-Aside 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. HMFN~U/EJB T:\AGENDAI2006\apr11 06\consent\300k Westchester comm memo.doc Property Information Map My Home Miami-Dade County, Florida Page 1 of 1 ."ED - Property Information Map Digital Orthophotography - 2005 o _110ft This map was created on 4/4/2006 4:11:34 PM for reference purposes only. Web Site@2002 Miami-Dade County. All rights reserved. .. ........ ... 5 PENNSYLVANIA AVE IAMI BEACH FL 3139-5482 Property Information: Primary 3900 MUL TI-FAMIL Y, 17one: MEDIUM DENSITY RESIDENTIAL k;LUC: 0003 MULTIFAMILY- PARTMENTS Beds/Baths: 0/30 Floors: Living Units: 0 ~djSq 10,420 Footage: Lot Size: 6,000 sa FT Year Built: 1936 LINCOLN SUB PB 9-69 LOT egal ~ BLK 74 LOT SIZE 60.000 X Description: 100 OR 20932-48581202 1 leoc 21506-3960 08 20031 Sale Information: ale OIR: 1506-3960 ale Date: /2003 ale Amount: 1,200,000 Assessment Information: Year: 2005 2004 Land Value: $480,000 330,00 uildina Value: $610,000 100,00 arket Value: $1,090,000 430,00 ssessed Value: $1,090,000 430,00 otal Exemotions: $1,090,000 $0 axable Value: $0 $430,000 http:// gisims2.miamidade.gov Imyhome/printmap.asp?mapurl=http://gisims2.miamidade.g... 04/04/2006 Mar.28. 2006 4:48PM Miami Beach CDC , 8 I I! z III :I ~ ~ ~ 11~ wlo %sl ~~~ I......e (1). 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