Miami-Dade Legislative Item
File Number: 121052
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File Number: 121052 File Type: Resolution Status: Adopted
Version: 0 Reference: R-505-12 Control: Board of County Commissioners
File Name: GOB 7TH AVE. TRANSIT VILLAGE GRANT AGREEMENT Introduced: 5/24/2012
Requester: NONE Cost: Final Action: 6/5/2012
Agenda Date: 6/5/2012 Agenda Item Number: 11A35
Notes: Title: RESOLUTION APPROVING AGREEMENTS RELATED TO GRANTS FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM FOR DEVELOPMENT OF AFFORDABLE HOUSING AND THEATRE AT 7TH AVENUE TRANSIT VILLAGE; AND AUTHORIZING COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE AND DELIVER SUCH AGREEMENTS ON BEHALF OF THE COUNTY
Indexes: GENERAL OBLIGATION BOND PROGRAM
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 6/5/2012 11A35 Adopted P

County Attorney 5/24/2012 Referred

County Attorney 5/24/2012 Assigned Gerald T. Heffernan

Legislative Text


TITLE
RESOLUTION APPROVING AGREEMENTS RELATED TO GRANTS FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM FOR DEVELOPMENT OF AFFORDABLE HOUSING AND THEATRE AT 7TH AVENUE TRANSIT VILLAGE; AND AUTHORIZING COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE AND DELIVER SUCH AGREEMENTS ON BEHALF OF THE COUNTY

BODY

WHEREAS, pursuant to Resolution No. R-780-08 adopted on July 1, 2008 (“Allocation Resolution”), this Board approved a District 3 grant/allocation of $10,592,307 from Project No. 249 – “Preservation of Affordable Housing Units and Expansion of Home Ownership” (“Affordable Housing Grant”) of the Building Better Communities General Obligation Bond Program (“Bond Program”) for the construction and development of the affordable housing portion of a comprehensive, mixed use, transit oriented development project that includes, in addition to affordable housing, retail, office space, parking facilities, theatre, bus bays and a transit support facility that features convenient access to public transportation, known as the “7th Avenue Transit Village” (“Project”) on real property owned by the County located at the south-east quadrant of the intersection of NW 62 Street and NW 7 Avenue in District 3 (“Property”); and
WHEREAS, pursuant to Resolution R-138-11 adopted on March 1, 2011, the Board approved the selection of Carlisle Development Group, LLC as the Project developer (“Carlisle”) and approved the ground lease for the Property between the County and Carlisle (“Lease”) and the assignment of the Lease from Carlisle to CDG Seventh Avenues Holdings, LLC; and
WHEREAS, there is a need to provide affordable multi-family housing in District 3 as soon as it is practicable; and
WHEREAS, pursuant to Resolution No. R-326-12 adopted on April 3, 2012, this Board approved the form and execution of a Development and Grant Agreement and Regulatory Agreement (collectively, “Affordable Housing Agreements”) between the County and Carlisle or its related entity or a not-for profit entity (“Grantee”) provided, Carlisle or affiliated entity wholly owned by the principals of Carlisle is the developer of the Project, for the full amount of the Affordable Housing Grant to be funded pursuant to the County’s five year capital plan; and
WHEREAS, the construction and permanent lender has requested that the County agree to additional terms in the Affordable Housing Agreements pertaining to notice and liens; and
WHEREAS, this Board wishes to approve the Affordable Housing Agreements with such changes requested by the lender after negotiations and to authorize their execution and delivery; and
WHEREAS, pursuant to Resolution No. R-755-11 adopted on October 4, 2011, the Board approved a grant of $5,000,000 to Carlisle pursuant to RFQ No. 743 (“Cultural Grant””) for the construction and development of BBC GOB Program Project No. 333.1 – “Transit Village Theatre/Cultural Center” consisting of a local “black box” type theatre to replace the Carver Theatre as well as studio and gallery space for the visual arts (“Theatre”) as a component of the Project; and
WHEREAS, pursuant to the County’s five-year capital plan, it is anticipated that the County shall have sufficient Building Better Communities General Obligation commercial paper/bond proceeds (“Bond Funds”) available to fund the total Cultural Grant by allocating $500,000 in Fiscal Year 2011-12, $2,400,000 in Fiscal Year 2012-13 and 2,100,000 in Fiscal Year 2013-14; and
WHEREAS, due to the County’s funding of the Cultural Grant over several Fiscal Years, the Grantee needs to secure construction financing to be paid from proceeds of the Cultural Grant until the Cultural Grant is fully funded; and
WHEREAS, the construction lender has requested that the County contract for the full amount of the Cultural Grant and provide a covenant in the Development and Grant Agreement between the County and the Grantee with respect to the Cultural Grant (“Cultural Grant Agreement”) to annually budget and appropriate the amount necessary to fund each Fiscal Year’s Cultural Grant allocation solely from available Bond Funds until the Cultural Grant is fully funded; and
WHEREAS, this Board wishes to approve the Cultural Grant Agreement and to authorize its execution and delivery,
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 Board approves the Development and Grant Agreement for the Affordable Housing Grant, in substantially the form attached as Exhibit “A” to this Resolution and the Regulatory Agreement for the Affordable Housing Grant, in substantially the form attached as Exhibit “B” to this Resolution, and the County Mayor or County Mayor’s designee is authorized to execute and deliver them on behalf of the County after consultation with the Miami-Dade County Attorney’s Office.
Section 3. The Board approves the Cultural Grant Agreement in substantially the form attached as Exhibit “C” to this Resolution and the County Mayor or County Mayor’s designee is authorized to execute and deliver it on behalf of the County after consultation with the Miami-Dade County Attorney’s Office.



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