Miami-Dade Legislative Item
File Number: 220493
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File Number: 220493 File Type: Resolution Status: Adopted
Version: 0 Reference: R-419-22 Control: County Commission
File Name: STATE HOUSING INITIATIVES PARTNERSHIP FUNDS Introduced: 3/2/2022
Requester: Public Housing and Community Development Cost: Final Action: 5/3/2022
Agenda Date: 5/3/2022 Agenda Item Number: 8K1
Notes: Title: RESOLUTION APPROVING THE FUNDING RECOMMENDATION TO AWARD UP TO $2,750,000.00 IN DOCUMENTARY STAMP SURTAX AND STATE HOUSING INITIATIVES PARTNERSHIP FUNDS TO BHP COMMUNITY LAND TRUST DBA SOUTH FLORIDA COMMUNITY LAND TRUST, INC., FOR PURPOSES OF DEVELOPING PLACE LOUVERTURE, AN AFFORDABLE HOMEOWNERSHIP HOUSING PROJECT; AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE ALL LETTERS OF COMMITMENT, STANDARD SHELL CONTRACTS, AMENDMENTS, STANDARD SHELL DOCUMENTS, CONDITIONAL LOAN COMMITMENTS, AND OTHER AGREEMENTS NECESSARY TO ACCOMPLISH THE PURPOSES SET FORTH HEREIN, TO EXERCISE THE CANCELLATION AND OTHER PROVISIONS CONTAINED THEREIN, AND TO SHIFT FUNDS AND FUNDING SOURCES AWARDED TO THE PROJECT TO ANY NEW ENTITIES CREATED FOR THE PURPOSE OF CARRYING OUT THE PROJECT NECESSARY TO FULFILL THE OBJECTIVES OF THE ABOVE PROGRAMS, TO SUBORDINATE AND/OR MODIFY THE TERMS OF CONTRACTS, AGREEMENTS, AMENDMENTS AND DOCUMENTS, AND TO EXERCISE TERMINATION, WAIVER, ACCELERATION AND OTHER PROVISIONS
Indexes: NONE
Sponsors: Keon Hardemon, 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 5/3/2022 8K1 Adopted P

Public Housing and Community Services Committee 4/14/2022 3B Forwarded to BCC with a favorable recommendation P

County Attorney 3/21/2022 Assigned Shannon D. Summerset 3/23/2022

County Attorney 3/15/2022 Assigned Office of Agenda Coordination 3/15/2022
REPORT: item returned with edits.

County Attorney 3/14/2022 Assigned Shannon D. Summerset 3/15/2022

Office of Agenda Coordination 3/2/2022 Assigned County Attorney 5/3/2022
REPORT: PHCD - Attorney: Shannon Summerset - Commissioner Hardemon Sponsor - pending April cmte - Attachments: Exhibit A - item has 11 pages

Morris Copeland 3/2/2022 Assigned Office of Agenda Coordination

Legislative Text


TITLE
RESOLUTION APPROVING THE FUNDING RECOMMENDATION TO AWARD UP TO $2,750,000.00 IN DOCUMENTARY STAMP SURTAX AND STATE HOUSING INITIATIVES PARTNERSHIP FUNDS TO BHP COMMUNITY LAND TRUST DBA SOUTH FLORIDA COMMUNITY LAND TRUST, INC., FOR PURPOSES OF DEVELOPING PLACE LOUVERTURE, AN AFFORDABLE HOMEOWNERSHIP HOUSING PROJECT; AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR’S DESIGNEE TO EXECUTE ALL LETTERS OF COMMITMENT, STANDARD SHELL CONTRACTS, AMENDMENTS, STANDARD SHELL DOCUMENTS, CONDITIONAL LOAN COMMITMENTS, AND OTHER AGREEMENTS NECESSARY TO ACCOMPLISH THE PURPOSES SET FORTH HEREIN, TO EXERCISE THE CANCELLATION AND OTHER PROVISIONS CONTAINED THEREIN, AND TO SHIFT FUNDS AND FUNDING SOURCES AWARDED TO THE PROJECT TO ANY NEW ENTITIES CREATED FOR THE PURPOSE OF CARRYING OUT THE PROJECT NECESSARY TO FULFILL THE OBJECTIVES OF THE ABOVE PROGRAMS, TO SUBORDINATE AND/OR MODIFY THE TERMS OF CONTRACTS, AGREEMENTS, AMENDMENTS AND DOCUMENTS, AND TO EXERCISE TERMINATION, WAIVER, ACCELERATION AND OTHER PROVISIONS

BODY
WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying memorandum.

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:

Section 1. This Board ratifies and adopts the recital and matters set forth in the accompanying justification memorandum as fully set forth herein.

Section 2. This Board approves the proposed funding recommendations in an amount up to $2,750,000.00 in Documentary Stamp Surtax funds and State Housing Initiatives Partnership funds to BHP Community Land Trust dba South Florida Community Land Trust, Inc. for the purpose of developing Place Louverture, an affordable housing project.

Section 3. This Board authorizes the County Mayor or County Mayor’s designee to execute all letters of commitment, standard shell contracts, amendments, standard shell documents, conditional loan commitments in substantially the form as attached in Exhibit A and other agreements necessary to accomplish the purposes of this resolution and to exercise the cancellation and other provisions contained therein, and to shift funds and funding sources awarded to a project to any new entities created for the purpose of carrying out a project necessary to fulfill the objectives of the above programs. This Board further authorizes the County Mayor or County Mayor’s designee, upon a determination that such actions are in the best interest of the County, to subordinate and/or modify the terms of contracts, agreements, amendments and documents so long as such modifications are approved by the County Attorney’s Office as to legal form and sufficiency and are not substantially inconsistent with this resolution and to exercise the termination, waiver, acceleration, or other provisions set forth therein.

HEADER
Date:

To: Honorable Chairman Jose “Pepe” Diaz
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: FY 2021 Documentary Stamp Surtax and State Housing Initiatives Partnership Program Award Recommendations for Homeownership Developments

STAFF RECOMMENDATION
Recommendation
It is recommended that the Board of County Commissioners (Board):

1. Approve the proposed funding recommendation in an amount up to $2,750,000.00 to BHP Community Land Trust dba South Florida Community Land Trust or related entity, for Place Louverture, a FY 2021 Documentary Stamp Surtax (Surtax) and State Housing Initiatives Partnership Program (SHIP) Homeownership Request for Application submittal;
2. Authorize the County Mayor or County Mayor’s designee to execute all letters of commitment, standard shell contracts, agreements, and amendments pursuant to the proposed Surtax/SHIP funding recommendations and to shift funds and funding sources awarded to a project to any new entities created for the purpose of carrying out a project necessary to fulfill the objectives of the above programs; and
3. Authorize the County Mayor or County Mayor’s designee, upon a determination that such actions are in the best interest of the County, to subordinate and/or modify the terms of contracts, agreements, amendments and loan documents so long as such modifications are approved by the County Attorney’s Office as to legal form and sufficiency and are not substantially inconsistent with this resolution and to exercise the termination, waiver, acceleration, or other provisions set forth therein.
Scope
This item recommends funding for new construction of affordable single-family homes in Commission District 3. Table 1 contains the score and proposed funding recommendations.

Delegation of Authority
This item requests a delegation of authority to authorize the County Mayor or the County Mayor’s designee to execute all letters of commitment, standard shell contracts, agreements, and amendments pursuant to the proposed Surtax/SHIP funding recommendations, to shift funds and funding sources awarded to a project to any new entities created for the purpose of carrying out a project necessary to fulfill the objectives of the above programs, to subordinate and/or modify the terms of contracts, agreements, amendments and loan documents, and to exercise termination, waiver, acceleration or other provisions set forth therein.



Fiscal Impact/Funding Source
The award of Documentary Stamp Surtax and State Housing Initiatives Partnership Program funds will not have a negative fiscal impact on the County’s General Fund. Table 1 summarizes the proposed use of FY 2021 Surtax/SHIP Homeownership funding for one application that met minimum threshold requirements was forwarded for scoring by the Evaluation/Selection Committee.

Table 1 – FY 2021 Surtax/SHIP Homeownership Funding Recommendations
Development Name Agency/Entity Name Address Commission District No. of Units Funding Requested Funding Recommendation
Place Louverture BHP Community Land Trust dba South Florida Community Land Trust 6601 NE Miami Place, Miami, FL 33138 3 13 $2,750,000 $2,750,000
TOTALS 13 $2,750,000 $2,750,000

Track Record/Monitor
Michael Liu, Director, Public Housing and Community Development Department (Department), will monitor all Surtax/SHIP activities. The Department will continue to monitor the projects to ensure compliance with State and County guidelines and policies.

Background
The FY 2021 Homeownership Surtax/SHIP RFA was issued on February 26, 2021, with a due date of April 2, 2021, and a total of $18,000,000.00 available for homeownership activities countywide. The public was advised of the application process through notices that were posted via the Department’s website and through use of the Department’s developers email distribution list.

There was a combined total request of $19,763,438 in Surtax/SHIP funds from 4 applicants. However, only 1 of the 4 applications met established minimum threshold requirements. On July 14, 2021, the FY 2021 Surtax/SHIP Selection Committee appointed by the Department’s Director convened to review the Place Louverture application that was the only one that met minimum threshold requirements, as verified by Department staff.

Pursuant to the FY 2021 Homeownership Surtax/SHIP RFA, applications must have been scored and ranked to be recommended for funding. Only one of the four submissions was scored by the evaluation committee and provided sufficient documentation confirming firm financial commitments. The only scored application, Place Louverture achieved the RFA’s minimum score threshold of attaining a score of 70 points before the addition of bonus points.

Community land trusts (CLT) are typically nonprofit, community-based organizations designed to ensure community stewardship of land with a goal of protecting the affordability of the homes in perpetuity. While community land trusts currently exist in other parts of Florida, Place Louverture will be the first of its kind in Miami-Dade County. The proposed development will include the new construction of 13 permanently affordable townhomes units, located 6601 NE Miami Place, Miami, Florida 33138.

Table 2 lists the 3 homeownership development applications that did not get scored because they did not meet all of the Surtax/SHIP Homeownership RFA’s minimum threshold requirements. All applicants were given the opportunity to review their applications and discuss the evaluation results with Department staff on July 19, 2021.

Table 2 – FY 2021 Surtax/SHIP Homeownership Applicants not Meeting Threshold
Developer Name Activity Title/ Development Name Leveraging Organizational Capacity Financial Capacity Track Record Site Control Subsidy per Unit Green Cert Resp Contractor Affidavit Due Diligence Application Funding Request Cap Credit Underwriting Recommendation Minimum Scoring Criteria 70
Cazo Construction, Corp. Magnolia North Homeownership Duplexes N Y N Y Y Y Y Y NA N N
NA
Palmetto Homes of Miami, Inc. Magnolia Sub Infill 2021 N Y Y
Y
Y
Y
Y
Y
NA
Y
N
NA
Palmetto Homes of Miami, Inc. PH Urban Development Scattered Sites 2021
N
Y
Y
Y
Y
Y
Y
Y
NA
Y
N
NA

Funding recommendations for affordable housing developments are subject to a full credit underwriting analysis and subsidy layering review, which shall be completed with a favorable recommendation, prior to contract negotiations and execution. Upon approval of this item and successful completion of underwriting, PHCD will issue a conditional loan commitment included and identified as Exhibit A of the resolution.

A due diligence review is required pursuant to Resolution No. R-630-13 to make efficient and transparent use of funds for much needed services to the County’s residents. The required review was conducted and there are no findings to report for the entities that are recommended for funding.




_______________________________
Morris Copeland
Chief Community Services Officer



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