Miami-Dade Legislative Item
File Number: 081887
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File Number: 081887 File Type: Resolution Status: Adopted
Version: 0 Reference: R-803-08 Control: Board of County Commissioners
File Name: MULTIFAMILY HOUSING DEVELOPMENT RE: NOTRE DAME APARTMENTS Introduced: 6/12/2008
Requester: NONE Cost: Final Action: 7/1/2008
Agenda Date: 7/1/2008 Agenda Item Number: 11A34
Notes: Title: RESOLUTION APPROVING ONE OR MORE SERIES OF HOUSING FINANCE AUTHORITY OF MIAMI-DADE COUNTY (FLORIDA) MULTIFAMILY MORTGAGE REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $12,000,000 TO FINANCE THE ACQUISITION, CONSTRUCTION OR REHABILITATION OF A MULTIFAMILY HOUSING DEVELOPMENT TO BE KNOWN AS NOTRE DAME APARTMENTS; AUTHORIZING THE HOUSING FINANCE AUTHORITY TO DO ALL THINGS NECESSARY IN CONNECTION WITH ISSUANCE, SALE, EXECUTION AND DELIVERY OF BONDS; AND PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE
Indexes: BONDS
Sponsors: Audrey M. Edmonson, Prime Sponsor
Sunset Provision: No Effective Date: Expiration Date:
Registered Lobbyist: None Listed


Legislative History

Acting Body Date Agenda Item Action Sent To Due Date Returned Pass/Fail

Board of County Commissioners 7/1/2008 11A34 Adopted P

Board of County Commissioners 6/17/2008 14A3 4 Day Rule Invoked
REPORT: Commissioner Rolle invoked the 4 Day Rule on the foregoing resolution.

County Manager 6/13/2008 Additions 6/17/2008

County Attorney 6/12/2008 Assigned David S. Hope

Legislative Text


TITLE
RESOLUTION APPROVING ONE OR MORE SERIES OF HOUSING FINANCE AUTHORITY OF MIAMI-DADE COUNTY (FLORIDA) MULTIFAMILY MORTGAGE REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $12,000,000 TO FINANCE THE ACQUISITION, CONSTRUCTION OR REHABILITATION OF A MULTIFAMILY HOUSING DEVELOPMENT TO BE KNOWN AS NOTRE DAME APARTMENTS; AUTHORIZING THE HOUSING FINANCE AUTHORITY TO DO ALL THINGS NECESSARY IN CONNECTION WITH ISSUANCE, SALE, EXECUTION AND DELIVERY OF BONDS; AND PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE.

BODY

WHEREAS, Notre Dame Apartments, LLC, has applied to the Housing Finance Authority of Miami-Dade County (Florida) (the “Authority”) for multifamily mortgage revenue bond financing assistance in an aggregate principal amount not to exceed $12,000,000.00 in one (1) or more series (the “Bonds”) to (i) finance the acquisition, construction or rehabilitation of Notre Dame Apartments located on NW 57th Street and NW 2nd Avenue, in Miami, Florida, a rental housing development to be occupied by persons or families of low, moderate or middle income to be operated and managed by Notre Dame Apartments, LLC (the “Development”), and (ii) pay certain bond issuance costs; and
WHEREAS, the Authority passed Resolution No. HFA 08-05 on June 9, 2008, attached hereto as Exhibit A and incorporated by reference, which resolution approved financing of the Development and recommended approval, subject to a favorable TEFRA hearing (as hereinafter defined) and otherwise, by the Board of County Commissioners of Miami-Dade County, Florida (the “Board”) of the Development and the proposed multifamily mortgage revenue bond financing; and
WHEREAS, the Authority conducted a TEFRA hearing, notice of which hearing was published on May 22, 2008, in the Miami Daily Business Review (a copy of said notice is attached hereto as Exhibit B and incorporated herein), on June 11, 2008, for the purpose of considering the issuance of the Bonds by the Authority, in conformance with the requirements of the Tax Equity and Fiscal Responsibility Act of 1982 (“TEFRA”) and Section 147(f) of the Internal Revenue Code of 1986, and such public hearing disclosed no reason why the Bonds should not be issued; and
WHEREAS, the Development will inure to the benefit of the citizens of Miami-Dade County, Florida,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that the Board: (i) approves one (1) or more series of multifamily mortgage revenue bonds by the Authority in an aggregate principal amount not to exceed $12,000,000 to finance the acquisition, construction or rehabilitation of the Development; and (ii) authorizes the Authority to do all things necessary in connection with issuance, sale, execution and delivery of bonds.



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