2001-24261 RESO
RESOLUTION NO. 2001-24261
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA,
AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE A SECOND AMENDMENT TO THE HOME
INVESTMENT PARTNERSHIPS PROGRAM AGREEMENT,
DATED MAY 24, 2000, BETWEEN THE CITY OF MIAMI
BEACH AND MIAMI BEACH COMMUNITY
DEVELOPMENT CORPORATION (MBCDC), PROVIDING
AN ADDITIONAL $71,013, FROM THE $800,000 HOME
CHDO FUNDS PREVIOUSLY ALLOCATED TO MBCDC BY
THE CITY'S ONE-YEAR ACTION PLAN FOR FISCAL YEAR
2000/2001, TOWARDS THE COST OF ACQUISITION AND
REHABILITATION OF ONE ADDITIONAL ONE-BEDROOM
CONDOMINIUM UNIT, 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 Corporation (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 I, 1998; and
WHEREAS, on July 12,2000, the City adopted Resolution No. 2000-23997, adopting the
City's One-Year Action Plan for federal funds, which includes the Fiscal Year 2000/2001 budget
for the HOME Program allocation of the HOME CHDO funds in the amount of $800,000 to
MBCDC for the acquisition and/or rehabilitation of multi-family rental buildings or scattered sites
for the purpose of providing affordable rental housing; 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 NOF A 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 fifty thousand dollars ($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 2, 2001, 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$71,013, towards the cost of acquisition and rehabilitation of one additional
one-bedroom condominium unit in the Knightsbridge Condominium, unit 201, 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 Second Amendment to the Home Investment Partnerships
Program Agreement, dated May 24, 2000, between the City of Miami Beach and Miami Beach
Community Development Corporation (MBCDC), providing an additional $71,013, from the
$800,000 HOME CHDO funds previously allocated to MBCDC by the city's One-Year Action Plan
for Fiscal Year 2000/2001, towards the cost of acquisition and rehabilitation of one additional
one-bedroorn condominium unit, located at 7 I 33 Bay Drive, Miami Beach, to provide rental housing
for income-eligible elderly tenants in accordance with the HOME Program requirements.
PASSED AND ADOPTED THIS 21st DAY OF February ,2001
ATTEST:
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CITY CLERK
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MAYOR
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CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH. FLORIDA 33139
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TO:
FROM:
SUBJECT:
COMMISSION MEMORANDUM NO.
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Mayor Neisen O. Kasdin and
Members of the City Commission
Jorge M. Gonzalez \ ~
City Manager 0 v- ~ l)
DATE: February 21, 2001
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, AUTHORIZING THE MAYOR AND
CITY CLERK TO EXECUTE A SECOND AMENDMENT TO THE HOME
INVESTMENT PARTNERSHIPS PROGRAM AGREEMENT, DATED MAY
24,2000, BETWEEN THE CITY OF MIAMI BEACH AND MIAMI BEACH
COMMUNITY DEVELOPMENT CORPORATION (MBCDC), PROVIDING
AN ADDITIONAL $71,013, FROM THE $800,000 HOME CHDO FUNDS
PREVIOUSLY ALLOCATED TO MBCDC BY THE CITY'S ONE-YEAR
ACTION PLAN FOR FISCAL YEAR 2000/2001, TOWARDS THE COST OF
ACQUISITION AND REHABILITATION OF ONE ADDITIONAL
ONE-BEDROOM CONDOMINIUM UNIT , 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 (U.S. 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.
On July 12,2000, the City adopted the One-Year Action Plan for federal funds for fiscal year
2000/2001. The Plan provided a HOME CHDO allocation in the amount of $800,000 of HOME
AGENDA ITEM
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F:IDDHP'ISALLIMIGUEllIAMENMEM2.WPD
DATE
February 21, 2001
Commission Memorandum
MBCDC Elderly Rental Program/Second Amendment
Page 2
Program funds to MBCDC for the acquisition and/or rehabilitation of mulli-family buildings or
scattered sites units for the purpose of providing rental and/or homeownership opportunities to
income-eligible participants. On January 5,2001, MBCDC requested to utilize up to $72,000, from
their HOME CHDO allocation of $800,000 from fiscal year 2000/2001 for the aquisition and
rehabilitaiton of an additional unit at the Knightsbridge Condominium, 7133 Bay Drive, Miami
Beach to provide rental housing under the Elderly Rental Housing Program.
On February 2, 2001, the Loan Review Committee recommended that the Mayor and City
Commission approve a request from MBCDC for the utilization of $71,013 from their HOME
CHDO allocation towards the cost of acquisition and rehabilitation of one additional one-bedroom
condominium unit in the Knightsbridge Condominium, 7133 Bay Drive, Miami Beach, to provide
rental housing for income-eligible elderly tenants in accordance with the HOME Program
requirements. MBCDC recently established an Elderly Rental Program to provide rental housing
to elderly persons, age 62 years and above, including those with special needs.
On May 24, 2000, the City and MBCDC entered into an HOME Program agreement providing
$376,400 towards the cost of acquisition and rehabilitation of seven one-bedroom units at the
Knightsbridge Condominium. MBCDC supplemented the HOME Program funds with a first
position mortgage of $70,000 from a private lender. Nineteen ofthe 48 condominium units in the
building were in foreclosure and were auctioned on March 31, 2000. Initially, MBCDC was
successful in bidding on and acquiring seven one-bedroom units at an average cost of$55,271 per
unit, or $61 per square foot. Afterwards, an additional unit became available to MBCDC when
another bidder failed to close on the unit. MBCDC seized the opportunity and acquired this eighth
unit. On September 13, 2000, the City adopted a first amendment to the HOME Program agreement
providing an additional $50,000 towards the acquisition and rehabilitation of the eighth one-bedroom
unit for a total of $426,400 HOME Program funds.
Most recently, MBCDC was presented with an opportunity to acquire another additional unit at the
Knightsbridge Condominium at a cost below the appraised value. On December 26, 2000, Certified
Appraisers of South Florida, Inc. appraised Unit 20 I at $64,000. MBCDC has entered into a contract
to purchase the unit for $63,500, or $70 per square foot. With the purchase of this unit MBCDC will
own approximately 20% of all the units in the Knightsbrigde Condominium. MBCDC will not
acquire any additional units in the Knightsbrigde Condominium.
Under the Elderly Housing Program, the units rent at limits established by U.S. HOD for the HOME
Program for a period of 15 years. The rents are between $378 and $483 per month. The
Knightsbridge Condominium is conveniently located close to the comer of Bay Drive and 71st Street
within walking distance to grocery stores, the beach, a post office, public transportation, a health
center and a pharmacy. The building has a pool, secured entry and access by elevator. The units are
one-bedroom units averaging 900 square feet. The units needed rehabilitation work, including
upgrading of kitchen and bathroom cabinets, air conditioning, painting, and the replacement of
appliances.
F:\DOIWI.SALL\MIGUElL\AMENMEMl.WPD
February 21,2001
Commission Memorandum
MBCDC Elderly Rental Program/Second Amendment
Page 3
As requested by the City Commission, and in order to protect the investment of HOME Program
funds, MBCDC has made a commitment to properly maintain the entire building. Consequently,
MBCDC now plays an active role in the Knightsbridge Condominium Association, with the
President ofMBCDC serving as the President of the Association.
The Administration recommends that the Mayor and City Commission authorize the Mayor and City
Clerk to execute the attached Second Amendment to the HOME Investment Partnerships (HOME)
Program agreement, dated May 24, 2000, between the City of Miami Beach and Miami Beach
Community Development Corporation (MBCDC), providing an additional $71,013, from the
$800,000 HOME CHDO funds previously allocated to MBCDC by the City's One-Year Action Plan
for fiscal year 2000/200 I, towards the cost of acquisition and rehabilitation of one additional one-
bedroom condorninium unit, 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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SECOND AMENDMENT TO HOME PROGRAM AGREEMENT
THIS SECOND AMENDMENT TO THE AGREEMENT, entered into this-li. day of /d,v.,..,,2001,
by and between the CITY OF MIAMI BEACH, a Florida municipal corporation, 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 Corporation,
with offices located at 1205 Drexel Avenue, Miami Beach, Florida (hereinafter referred to as Owner).
WITNESSETH:
WHEREAS, on July 12,2000, the City adopted Resolution No. 2000-23997, adopting the
City's One-Year Action Plan for federal funds, which includes the Fiscal Year 2000/2001 budget for
the HOME investment Partnerships (HOME) Program allocation of the HOME CHDO funds in the
amount of $800,000 to Owner for the acquisition and/or rehabilitation of multi-family rental buildings
or scattered sites for the purpose of providing affordable rental housing; and
WHEREAS, on May 24, 2000, the City adopted Resolution No. 2000-23939, authorizing a
HOME Program Agreement between the City and Owner providing $376,400 of HOME Program funds
towards the acquisition and rehabilitation of seven (7) 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; 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 Owner 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 2, 2001, 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 $71,013, towards the cost of acquisition and rehabilitation of one additional one-
bedroom condominium unit in the Knightsbridge Condominium, known as Unit 20 I, to provide rental
housing for income-eligible elderly tenants in accordance with the HOME Program requirernents; and
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.
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
I. 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 Four Hundred Ninety-Seven Thousand Four Hundred Thirteen Dollars
($497,413)(Funds) from Fiscal Year 1997/98, Fiscal Year 1998/99, Fiscal Year 1999/2000 and
Fiscal Year 2000/2001.
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 of the 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 rnore 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
$497,413. 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 $497,413. 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 $497,413, for any action or claim for breach of contract arising out of the
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.
4. The existing EXHIBIT B, BUDGET, is deleted in its entirety, and is replaced by the revised
EXHIBIT B TO SECOND AMENDMENT TO HOME PROGRAM AGREEMENT, BUDGET,
2
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 ofthe parties hereto.
IN WITNESS WHEREOF, the parties hereto executed this Amendment as of the day and date
first above written.
Secretary
MIAMI BEACH COMMUNITY
DEVELOPMENT CORPORATION
a Florida not-for-profit corporation
ATTEST:
. ent, Authorized Signatory
ATTEST:
CITY OF MIAMI BEACH
a Florida Municipal corporation
~o Pcwk--
City Clerk
1M
Mayor
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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, FI 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 SOl
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 Pnblic
Records of Miami-Dade County, Florida.
The Knightsbridge Condomininm, 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 the units 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 of900 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 IS-year
affordabiIity 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 federally
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
Community/Economic Development 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 cornmencement and completion dates, contract amount,
scope of work, Federal Labor Standards Provisions (HOD 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: I)
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 CornmunitylEconomic Development 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 of the City, constitute a default under this Agreement.
Exception: Subject to the prior approval of the CommunitylEconomic Development 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 fimds, 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. Project Development Schedule
Closing Date
Commence Construction
Complete Construction
Lease-up
March,2001
March,2001
May, 2001
June, 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)
MBCDC Equity
USES OF FUNDS
Acquisition of Property
Closing Costs
Rehabilitation
Developer's Fee
$497,413
70,000
12.970
$502,870
22,500
43,388
1\.625
$580,383
$580,383