Miami-Dade Legislative Item
File Number: 121081
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File Number: 121081 File Type: Resolution Status: Adopted
Version: 0 Reference: R-597-12 Control: Board of County Commissioners
File Name: GOB RE: RESCINDING NEW BEGINNINGS Introduced: 5/25/2012
Requester: NONE Cost: Final Action: 7/3/2012
Agenda Date: 7/3/2012 Agenda Item Number: 11A17
Notes: Title: RESOLUTION RESCINDING RESOLUTION NO. R-1121-10 THEREBY CANCELLING ALLOCATION OF $1,500,000 FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – “PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP” TO FUND DEVELOPMENT OF AFFORDABLE HOUSING COMPONENT OF NEW BEGINNING VILLAGE PROJECT IN DISTRICT 2, AND APPROVING REALLOCATION OF SAME TO CARLISLE DEVELOPMENT GROUP, LLC TO FUND DEVELOPMENT OF AN AFFORDABLE HOUSING PROJECT AT THE NORTHSIDE METRORAIL STATION IN DISTRICT 2
Indexes: GENERAL OBLIGATION BOND PROGRAM
Sponsors: Jean Monestime, 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 7/3/2012 11A17 Adopted P

Infrastructure and Land Use Committee 6/13/2012 2C Forwarded to BCC with a favorable recommendation P

County Attorney 5/25/2012 Referred Infrastructure and Land Use Committee 6/13/2012

County Attorney 5/25/2012 Assigned Geri Bonzon-Keenan 5/30/2012

Legislative Text


TITLE
RESOLUTION RESCINDING RESOLUTION NO. R-1121-10 THEREBY CANCELLING ALLOCATION OF $1,500,000 FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NUMBER 249 – “PRESERVATION OF AFFORDABLE HOUSING UNITS AND EXPANSION OF HOME OWNERSHIP” TO FUND DEVELOPMENT OF AFFORDABLE HOUSING COMPONENT OF NEW BEGINNING VILLAGE PROJECT IN DISTRICT 2, AND APPROVING REALLOCATION OF SAME TO CARLISLE DEVELOPMENT GROUP, LLC TO FUND DEVELOPMENT OF AN AFFORDABLE HOUSING PROJECT AT THE NORTHSIDE METRORAIL STATION IN DISTRICT 2

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 “Bond 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, this Board previously adopted Resolution No. R-1121-10 on November 4, 2010 allocating $1,500,000 from Project No. 249 to the affordable housing component of the New Beginning Village project located at 2398 NW 119th Street (the “New Beginning Project”); and
WHEREAS, this Board wishes to rescind Resolution No. R-1121-10 and cancel the $1,500,000 Bond Program allocation to the New Beginning Project so such amount may be reallocated to another affordable housing project in District 2; and
WHEREAS, pursuant to Resolution No. R-872-08 this Board allocated $10,592,307 from Project No. 249 to fund the development of up to 348 units of affordable housing to be sited at the Northside parcel, then subsequently approved Resolution No. R-745-09 to reduce the Project No. 249 allocation to such development to $2.5 million; and
WHEREAS, pursuant to Resolution No. R-439-11, the County and Carlisle Development Group, LLC (“Carlisle”) entered into the Northside Metrorail Station Transit Oriented Development Lease Agreement for the development of approximately 438 units of affordable housing for families and elderly persons, as well as 20,000 square feet of retail/commercial space at the Northside parcel (the “Northside Project”) at an estimated total cost of $88 million; and
WHEREAS, one of the anticipated funding sources for the Northside Project was the $2.5 million Project No. 249 Bond Program allocation; and
WHEREAS, this Board wishes to grant additional Project No. 249 Bond Program funds toward the development of the Northside Project; and
WHEREAS, this Board wishes to rescind Resolution No. R-1121-10 and cancel the $1,500,000 Bond Program allocation to the New Beginning Project so such amount may be reallocated to Carlisle to fund a portion of the development of the Northside Project in District 2, subject to Board approval of 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 hereby approves: (a) the rescission of Resolution No. R-1121-10, thereby cancelling the allocation of $1,500,000 of Project No. 249 Bond Program funds to the New Beginning Project; and (b) the reallocation of the $1,500,000 of Project No. 249 Bond Program funds to Carlisle to fund a portion of the development of the Northside Project, subject to Board approval of all necessary agreements.



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