Miami-Dade Legislative Item
File Number: 093363
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File Number: 093363 File Type: Resolution Status: Adopted
Version: 0 Reference: R-136-10 Control: Board of County Commissioners
File Name: AFFORDABLE RENTAL UNITS Introduced: 12/23/2009
Requester: NONE Cost: Final Action: 2/2/2010
Agenda Date: 2/2/2010 Agenda Item Number: 11A1
Notes: Title: RESOLUTION APPROVING GRANT IN AMOUNT OF $10,592,307 FOR DISTRICT 12 TO CONSOLIDATED REAL ESTATE INVESTMENT LLC FOR DEVELOPMENT OF EIGHTY-SEVEN AFFORDABLE ELDERLY RENTAL UNITS FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – “PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP”
Indexes: AFFORDABLE HOUSING
Sponsors: Jose "Pepe" Diaz, 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 2/2/2010 11A1 Adopted P

Housing & Community Development Committee 1/13/2010 2C Forwarded to BCC with a favorable recommendation P
REPORT: Assistant County Attorney Cynthia Johnson-Stacks read the foregoing proposed resolution into the record. It was moved by Commissioner Rolle that this proposed resolution be forwarded to the County Commission with a favorable recommendation. This motion was seconded by Commissioner Martinez, followed by discussion. Commissioner Sorenson spoke in opposition to this proposed resolution. She expressed concern that this was being done without a competitive process. Hearing no further questions or comments, the Committee proceeded to vote.

County Attorney 12/23/2009 Referred Housing & Community Development Committee 1/13/2010

County Attorney 12/23/2009 Assigned Gerald T. Heffernan

Legislative Text


TITLE
RESOLUTION APPROVING GRANT IN AMOUNT OF $10,592,307 FOR DISTRICT 12 TO CONSOLIDATED REAL ESTATE INVESTMENT LLC FOR DEVELOPMENT OF EIGHTY-SEVEN AFFORDABLE ELDERLY RENTAL UNITS FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – “PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP”

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 $137,700,000 (“Project No. 249”); and
WHEREAS, there is a need for the development of affordable housing in District 12; and
WHEREAS, this need shall be satisfied in part through a grant in the amount of $10,592,307 to Consolidated Real Estate Investment LLC to fund all or a portion of the construction of eighty-seven (87) affordable rental units, which will be LEED certified, for the elderly located in the vicinity of N.W.114 Avenue and N.W. 4th Terrace (the “Consolidated Project”); and
WHEREAS, this Board wishes to approve an allocation from Project No. 249 to the Consolidated Project,
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. The allocation of $10,592,307 to Consolidated Real Estate Investment LLC from Project No. 249 as a grant to fund the development of the Consolidated Project in District 12 is approved subject to Board approval of all necessary agreements, including a covenant regarding affordability.



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