Legislative Matter

Miami-Dade Legislative Item
File Number: 093363

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Clerk's Official Copy

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.