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RESOLUTION APPROVING SIGNIFICANT MODIFICATION TO BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NO. 293 - �HISTORIC PRESERVATION FUND�, AS IDENTIFIED IN APPENDIX A TO RESOLUTION NO. R-919-04 TO INCREASE ALLOCATION FROM $10,000,000 TO $10,300,000 AND TO ALLOCATE $1,500,000 TO HISTORIC BILTMORE HOTEL AND COUNTRY CLUB, AFTER PUBLIC HEARING; APPROVING ALLOCATION OF ADDITIONAL $300,000 FROM INTEREST EARNINGS GENERATED FROM INVESTMENT OF BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROCEEDS; WAIVING ADMINISTRATIVE RULES CONTEMPLATING COMPETITIVE PROCESS; AND AUTHORIZING COUNTY MAYOR OR MAYOR�S DESIGNEE TO EXECUTE INTERLOCAL COOPERATION AGREEMENT AND TO DISBURSE FUNDS AFTER SATISFACTION OF CONDITIONS PRECEDENT

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WHEREAS, on December 7, 2010, this Board passed Resolution No. R-1146-10 (attached hereto as Exhibit �A�) which approved a significant modification to Building Better Communities General Obligation Bond Program (the �BBC Program�) Project No. 293 � �Historic Preservation Fund� (�Project No. 293�), listed in Appendix A to Resolution No. 919-04 (the �Cultural Facilities Resolution�), in order to allocate $1.2 million to the restoration of the exterior of the Historic Biltmore Hotel and Country Club (�Biltmore�); and
WHEREAS, it has been determined that $1.5 million is needed in order to complete the restoration of the exterior of the Biltmore, and thus, an additional $300,000 for Project No. 293 will be necessary in order to complete the exterior restoration of the Biltmore and to fund the budget shortfall; and
WHEREAS, as of January 14, 2011, $472,000 of net interest income was available from the investment of BBC GOB Program bond proceeds derived from BBC GOB Program bonds (the �GOB Interest�), including but not limited to the Series 2008A bonds; and
WHEREAS, this Board wishes to allocate $300,000 of GOB Interest to Project No. 293 in order to fund the budget shortfall; and
WHEREAS, one of the projects listed in Appendix A to the Cultural Facilities Resolution and approved by the voters for funding is Project No. 293 � �Historic Preservation Fund� (�Project No. 293�), a Countywide fund with an allocation equal to $10,000,000 and a project description that states: �Establish a facilities preservation fund to provide emergency funding to property owners for the rehabilitation of residential and commercial historic sites. The program is geared to make an impact in the revitalization of historic buildings at the neighborhood level, particularly designated historic districts and other areas having a high concentration of older buildings. The Preservation Fund intends to make available up to $1 million annually in grants and loans between $25,000 and $250,000 and $3 million to fund the Miami Marine Stadium, $1 million to fund the restoration of the Curtiss Mansion, $1.8 million to fund the rehabilitation and restoration of the Historic Hampton House, $1 million to fund the restoration of the Military Museum, $2.0 million to fund the restoration of the Historic Opa-Locka City Hall, and $1.2 million to fund the restoration of the exterior of the Historic Biltmore Hotel and Country Club�; and
WHEREAS, all additions, deletions and significant modifications to individual projects or to Appendix A to the Cultural Facilities Resolution require a majority vote of the Board after a public hearing; and
WHEREAS, accordingly, this Board wishes to approve a significant modification to Project No. 293 to: (a) increase the original allocation from $10,000,000 to $10,300,000 and to approve the funding of the additional $300,000 from GOB interest; and (b) change the Project Description to add a $1.5 million allocation to the restoration of the exterior of the Biltmore such that the new Project Description would read as follows: �Establish a facilities preservation fund to provide emergency funding to property owners for the rehabilitation of historic sites. The program is geared to make an impact in the revitalization of historic buildings at the neighborhood level, particularly designated historic districts and other areas having a high concentration of older buildings. The Preservation Fund intends to make available $3 million to fund the Miami Marine Stadium, $1 million to fund the restoration of the Curtiss Mansion, $1.8 million to fund the rehabilitation and restoration of the Historic Hampton House, $1 million to fund the restoration of the Military Museum, $2.0 million to fund the restoration of the Historic Opa-Locka City Hall, and $1.5 million to fund the restoration of the exterior of the Historic Biltmore Hotel and Country Club�; and
WHEREAS, Implementing Order No. 3-47 sets forth a process for the allocation of surplus funds from the BBC Program that includes the funding of budget shortfalls of BBC Program projects from BBC Program interest earnings or unspent bond proceeds; and
WHEREAS, in accordance with Implementing Order No. 3-47, this item was presented to the BBC Program Citizen�s Advisory Committee (�CAC�) on January 26, 2011 and the CAC voted to favorably recommend this item; and
WHEREAS, the Administrative Rules governing the BBC GOB Program contemplate that the award of Project No. 293 funds to an eligible project be made pursuant to a competitive process even though such a process is not legally required; and
WHEREAS, this Board wishes to award the additional $300,000 from Project No. 293 BBC Program funds to the Biltmore without a competitive process; and
WHEREAS, this Board wishes to authorize the execution of an Interlocal Cooperation Agreement with the City of Coral Gables for $1.5 million and the disbursement of BBC Program funds for this purpose only after the satisfaction of conditions precedent set forth in Resolution No. R-1146-10,
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 hereby approves the significant modification to Project No.
293, identified in Appendix A to Resolution No. R-919-04, after a public hearing to: (a) increase the original allocation from $10,000,000 to $10,300,000 and approves the funding of the additional $300,000 from GOB interest; and (b) change the Project Description to read as follows: �Establish a facilities preservation fund to provide emergency funding to property owners for the rehabilitation of historic sites. The program is geared to make an impact in the revitalization of historic buildings at the neighborhood level, particularly designated historic districts and other areas having a high concentration of older buildings. The Preservation Fund intends to make available $3 million to fund the Miami Marine Stadium, $1 million to fund the restoration of the Curtiss Mansion, $1.8 million to fund the rehabilitation and restoration of the Historic Hampton House, $1 million to fund the restoration of the Military Museum, $2.0 million to fund the restoration of the Historic Opa-Locka City Hall, and $1.5 million to fund the restoration of the exterior of the Historic Biltmore Hotel and Country Club.�
Section 3. This Board waives the Administrative Rules governing the BBC GOB Program that contemplate the award of Project No. 293 funds to an eligible project pursuant to a competitive process and awards an additional $300,000 from Project No. 293 BBC GOB Program funds to the restoration of the Biltmore without a competitive process.
Section 4. Notwithstanding the authority delegated to the County Manager pursuant to Resolution No. R-595-05, this Board hereby authorizes the County Mayor or the Mayor�s designee to execute an Interlocal Cooperation Agreement(s) with the City of Coral Gables and to disburse BBC GOB Program funds to fund the restoration of the exterior of the Biltmore only after the satisfaction of the conditions precedent contained in Resolution No. R-1146-10, which is attached hereto as Exhibit �A� and is incorporated herein by reference.