Miami-Dade
Legislative Item File Number: 140099 |
Printable PDF Format Clerk's Official Copy |
File Number: 140099 | File Type: Resolution | Status: Adopted | ||||||
Version: 0 | Reference: R-228-14 | Control: County Commission | ||||||
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Requester: Housing Finance Authority | Cost: | Final Action: 3/4/2014 | ||||||
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Sunset Provision: No | Effective Date: | Expiration Date: |
Registered Lobbyist: | None Listed |
Legislative History |
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Acting Body | Date | Agenda Item | Action | Sent To | Due Date | Returned | Pass/Fail |
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Board of County Commissioners | 3/4/2014 | 10A1 | Adopted | P | |||
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Finance Committee | 2/11/2014 | 3C | Forwarded to BCC with a favorable recommendation | P | |||
REPORT: | Assistant County Attorney Gerald Heffernan read the foregoing proposed resolution into the record. Chairman Bovo opened the floor for public comments and called for persons wishing to appear before the Committee on the foregoing proposed resolution. The floor was closed after no one appeared wishing to speak. Hearing no further questions or comments, the Committee proceeded to vote on the foregoing proposed resolution as presented. | ||||||
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County Attorney | 1/17/2014 | Assigned | Gerald T. Heffernan | 1/17/2014 | |||
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County Mayor | 1/15/2014 | Assigned | County Attorney | 3/4/2014 | |||
REPORT: | Housing Fin. Authority - Gerald Heffernan - no sponsor - pending cmte - Attachment: Resolution No. HFA 2013-34 | ||||||
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County Mayor | 1/15/2014 | Assigned | Ed Marquez | 1/15/2014 | 1/15/2014 | ||
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Legislative Text |
TITLE RESOLUTION APPROVING THE ISSUANCE OF MULTIFAMILY MORTGAGE REVENUE BONDS BY THE HOUSING FINANCE AUTHORITY OF MIAMI-DADE COUNTY (FLORIDA), IN ONE OR MORE SERIES, TO FINANCE OR REFINANCE ALL OR PORTION OF THE COSTS OF THE CONSTRUCTION OF A MULTIFAMILY HOUSING PROJECT TO BE KNOWN AS THE GIBSON CENTER FOR PURPOSES OF SECTION 147(F) OF INTERNAL REVENUE CODE OF 1986, AS AMENDED BODY WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum, a copy of which is incorporated herein by reference; and WHEREAS, Gibson Center, Ltd. has applied to the Housing Finance Authority of Miami-Dade County (Florida) (the "Authority") for multifamily mortgage revenue bond financing assistance in an aggregate principal amount not to exceed $7,000,000 in one or more series (the "Bonds") to finance or refinance the construction of the Gibson Center, located at 3629 Grand Avenue, Miami, Miami-Dade County, Florida, an approximately 56-unit rental housing project to be occupied by elderly persons or families of low, moderate or middle income (the "Project") to be owned by Gibson Center, Ltd., a Florida limited partnership, or such successors in interest in which Gibson Center, LLC, a Florida limited liability company, is managing member or general partner and/or controlling stockholder; and WHEREAS, the Authority passed Resolution No. HFA 2013-34 on December 16, 2013, attached hereto as Exhibit A, approving financing of the Project and took further action recommending approval, subject to a favorable Public Hearing, for the purposes of TEFRA (as hereinafter defined) and otherwise, by the Board of County Commissioners of Miami-Dade County, Florida of the Project and the proposed multifamily mortgage revenue bond financing; and WHEREAS, the Authority conducted a Public Hearing, notice of which hearing was published on January 6, 2014, in The Miami Herald (a copy of said notice is attached hereto as Exhibit B and incorporated herein), on January 23, 2014, for the purpose of considering the issuance of the Bonds by the Authority, in conformance with the requirements of the Tax Equity and Fiscal Responsibility Act of 1982 ("TEFRA") and Section 147(f) of the Internal Revenue Code of 1986, as amended, and such public hearing disclosed no reason why the Bonds should not be issued; and WHEREAS, the Board of County Commissioners concurs in the findings of the Housing Finance Authority of Miami-Dade County (Florida), that the Project will inure to the benefit of the citizens of Miami-Dade County, Florida, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that: Section 1. The issuance of the Bonds in an aggregate principal amount not to exceed $7,000,000 for the purpose of financing all or a portion of the costs of the Project, as previously described, is approved. Section 2. The Bonds and the interest on the Bonds shall not constitute a debt, liability or general obligation of the Authority, the County or of the State of Florida or of any political subdivision thereof, but shall be payable solely from the revenues or other moneys specifically provided by the Borrower for the payment of the Bonds and neither the faith and credit nor any taxing power of the Authority, the County or of the State of Florida or of any political subdivision thereof is pledged to the payment of the principal or interest on the Bonds. HEADER Date: To: Honorable Chairwoman Rebeca Sosa and Members, Board of County Commissioners From: Carlos A. Gimenez Mayor Subject: Resolution Approving the Issuance by the Housing Finance Authority of Miami-Dade of its Multifamily Mortgage Revenue Bonds for Gibson Center for the purpose of Section 147(f) of the Internal Revenue Code of 1986 STAFF RECOMMENDATION As outlined in the enclosed memorandum from the Housing Finance Authority of Miami-Dade County (HFA), the attached resolution authorizes the HFA to issue Revenue Bonds (Bonds) in one or more series in an aggregate principal amount not to exceed $7,000,000 for the construction of the Gibson Center (Project). The principal and interest on the Bonds shall not constitute a debt, liability or a general obligation of the HFA, County, the State of Florida or any political subdivision of each, but shall be the responsibility of the owner of the Project. As stipulated in Section 147(f) of the Internal Revenue Code of 1986, as amended (Code), the Board of County Commissioners, as the highest governing body, must approve the issuance of the Bonds by the HFA as required by the Code after a public hearing. The public hearing was held by the HFA and such public hearing disclosed no reason why the Bonds should not be issued. The Bonds are expected to be issued by March 2013. _________________________ Edward Marquez Deputy Mayor |
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