Miami-Dade Legislative Item
File Number: 091385
   Clerk's Official Copy   

File Number: 091385 File Type: Resolution Status: Adopted
Version: 0 Reference: R-1374-08 Control: Board of County Commissioners
File Name: ALLOCATION OF $10,592,307 FROM BBC PROJECT 249 Introduced: 5/1/2009
Requester: NONE Cost: Final Action: 12/2/2008
Agenda Date: 12/2/2008 Agenda Item Number: 11A9
Notes: THIS IS FINAL VERSION AS ADOPTED. ALSO SEE 082888 Title: RESOLUTION APPROVING ALLOCATION OF $10,592,307 FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – ''PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP'' IN FORM OF GRANT TO FUND DEVELOPMENT OF MULTI-FAMILY RENTAL HOUSING ON PRIVATELY OWNED LAND IN DISTRICT 4; DIRECTING COUNTY MAYOR OR HIS DESIGNEE TO SOLICIT PROPOSALS FOR SUCH DEVELOPMENT PURSUANT TO REQUEST FOR PROPOSALS; AND APPROVING CERTAIN REQUIREMENTS TO BE INCLUDED IN REQUEST FOR PROPOSALS [SEE ORIGINAL ITEM UNDER FILE NO. 082888]
Indexes: BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND
Sponsors: Sally A. Heyman, 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

County Attorney 5/1/2009 Assigned Gerald T. Heffernan

Board of County Commissioners 12/2/2008 11A9 AMENDED Adopted as amended P
REPORT: In response to Commissioner Seijas’ concern with the County soliciting proposals before funds were available, Commissioner Heyman noted, during her meetings with Assistant County Managers and representatives from the housing industry and the General Obligation Bond (GOB) program, it was determined that it would be prudent to posture a Request for Proposals (RFP) now. Stating this process usually took approximately a year, she advised the RFP would include language stipulating that it would not be released until 2010. Ms. Jennifer Glazer-Moon advised that preliminary analyses based on theoretical assumptions were not sufficient to determine when the next bond issue would occur. Commissioner Seijas spoke in opposition to the foregoing resolution soliciting proposals, at great expense to the public, when the funding source would not be available for approximately two years. The Board adopted the foregoing resolution as amended to provide that the language “…up to…” be inserted between the words “earn” and “sixty” on the fourth line of Section 3.

Legislative Text


TITLE
RESOLUTION APPROVING ALLOCATION OF $10,592,307 FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – “PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP” IN FORM OF GRANT TO FUND DEVELOPMENT OF MULTI-FAMILY RENTAL HOUSING ON PRIVATELY OWNED LAND IN DISTRICT 4; DIRECTING COUNTY MAYOR OR HIS DESIGNEE TO SOLICIT PROPOSALS FOR SUCH DEVELOPMENT PURSUANT TO REQUEST FOR PROPOSALS; AND APPROVING CERTAIN REQUIRMENTS TO BE INCLUDED IN REQUEST FOR PROPOSALS

BODY
WHEREAS, pursuant to Resolution No. R-918-04 (the “Affordable Housing Resolution”), the voters approved the issuance of general obligation bonds in a principal amount not to exceed $194,997,000 to construct and improve affordable housing for the elderly and families; and
WHEREAS, Appendix A to the Affordable Housing Resolution lists projects eligible for funding from the Building Better Communities General Obligation Bond Program (the “BBC Program”) by project number, municipal project location, BCC district, project name, project description, street address and allocation; and
WHEREAS, one of the projects listed in Appendix A to the Affordable Housing Resolution and approved by the voters for funding is Project No. 249 – “Preservation of Affordable Housing Units and Expansion of Home Ownership” with an original allocation of $137.7 million (“Project No. 249”); and
WHEREAS, there is a need for multi-family rental housing for families that is affordable in District 4; and
WHEREAS, this need may be satisfied in part through the development of multi-family rental units on privately owned land for which preference will be afforded to families who have at least one member employed by public sector and/or health care providers located in Miami-Dade County; and
WHEREAS, in order to develop such multi-family housing, the Board desires to direct the County Mayor or his designee to solicit proposals from the private sector pursuant to a Request for Proposals (“RFP”) that sets forth the requirements that shall be met by each proposer and to present the results to this Board for approval; and
WHEREAS, this Board wishes to approve certain requirements to be included in the RFP; and
WHEREAS, this Board determines that is in the best interests of the citizens of the County and in particular District 4, to approve the allocation of $10,592,307 from Project No. 249 and to direct the County Mayor or his designee to issue the RFP to fund the development of multifamily rental housing on privately owned land in District 4 through a grant, subject to Board approval of the recommended proposer and all necessary agreements,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The foregoing recitals are incorporated in this resolution and are approved.
Section 2. This Board approves the allocation of $10,592,307 (“Allocation”) from the $137.7 million allocated for BBC Program Project No. 249 – “Preservation of Affordable Housing Units and Expansion of Home Ownership” to fund the development of multifamily rental housing on privately owned land in District 4 through a grant pursuant to the RFP, subject to Board approval of the recommended proposer and all necessary agreements.
Section 3. The County Mayor or his designee is directed to issue the RFP, provided it includes, among others, the following requirements: (i) the proposal shall maximize the number of rental units that could be financed from the Allocation on privately owned land; (ii) forty percent (40%) of the units are to be rented to families that earn up to sixty percent (60%) of the adjusted median income for Miami-Dade County (“Median Income”) and sixty percent (60%) of the units shall be rented to families that earn up to one hundred and forty percent (140%) of Median Income; (iii) the property shall be subject to a Land Use Restriction Agreement requiring the owner to continue to meet the requirements in (ii) above for as long as the bonds issued to fund the development remain outstanding but in no event less than thirty (30) years; (iv) preference shall be given to families who have at least one member employed by public sector and/or health care providers located in Miami-Dade County; and (v) the successful proposer shall enter into a grant agreement that will require the repayment of the grant if the conditions of the grant are not satisfied.



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