Resolution Rescinding Allocation In The Amount Of $2,200,000.00 From Building Better Communities General Obligation Bond Program Project No. 368 – “District 3 Neighborhood Infrastructure Improvements” (“Project No. 368”) Made To Atlantic Pacific Communiti

Description:

Whereas, Pursuant To Resolution No. R-914-04 (Public Infrastructure Resolution), The Voters Of Miami-Dade County Approved The Issuance Of General Obligation Bonds To Be Used To Construct And Improve Walkways, Bikeways, Bridges And Access To The Seaport, And Other Municipal And Neighborhood Infrastructure Improvements To Enhance Quality Of Life; And Whereas, Appendix A To The Public Infrastructure Resolution Lists Projects Eligible For Funding From The Building Better Communities General Obligation Bond Program (The Bond Program) By Project Number, Municipal Project Location, Commission District, Project Name, Project Description, Street Address And Allocation; And Whereas, Pursuant To Resolution No. R-17-20 Adopted On January 22, 2020, This Board Approved The Addition Of A New Bond Program Project No. 368 District 3 Neighborhood Infrastructure Improvements (Project No. 368) To Appendix A To The Public Infrastructure Resolution; And Whereas, Project No. 368 Has A Municipal Project Location Of Miami, Commission District 3, A Tbd Location, A Project Allocation Of $4,029,103.00 And A Project Description As Follows: Construct And Improve Neighborhood And Public Infrastructure Improvements In County Commission District 3 And, In Particular, Liberty City; And Whereas, There Is Great Need In County Commission District 3 And, In Particular, Liberty City, For Bond Program Funds For Neighborhood Infrastructure Improvements; And Whereas, Accordingly, This Board Also Approved, Pursuant To Resolution Nos. R-17-20 And R-1104-20, Allocations Totaling $2,200,000.00 From Project No. 368 To Atlantic Pacific Communities, Llc Or Any Affiliate Approved By The County Mayor Or County Mayors Designee (Apc), For The Purpose Of Funding Public And Neighborhood Infrastructure Improvements Necessary For The Development Of Phase Iii Of The Seventh Avenue Transit Village Project; And Whereas, Ultimately, The Funds Were Not Needed And/Or Used For That Purpose And This Board Therefore Desires To Rescind The Allocation Of $2,200,000.00 Of Project No. 368 Funds To Apc That Were Approved Pursuant To Resolution Nos. R-17-20 And R-1104-20; And Whereas, There Is Another Project That Will Be Developed On Land That Is Currently Owned By The City Of Miami And That Is Located Mere Steps Away From The Seventh Avenue Transit Village Project The Carver Theater Redevelopment Project, Which Will Consist Of A 12-Story Building To Include 84 Affordable Multifamily Housing Units, A Parking Garage And A Public Performing Arts Center (Carver Theater Project); And Whereas, All 84 Multifamily Units At The Carver Theater Project Will Be Set Aside For Families And Residents At 60 Percent Or 80 Percent Of Adjusted Median Income (Ami) For Miami-Dade County; And Whereas, The Carver Theater Project Is To Be Developed On Land Located At 6016 Nw 7Th Avenue, Miami, Florida 33127, Which Land Is Currently Owned By The City Of Miami, But Will Be Acquired By The Martin Luther King Economic Development Corporation (Mlk Corp.), A Not For Profit Corporation, Pursuant To A Purchase And Sale Agreement Dated September 8, 2023; And Whereas, The Mlk Corp. Has Created Mlk Carver Theater Llc To Partner With An Apc Entity- Apc Carver Theater, Llc- To Create Carver Theater, Ltd. (Developer), A Florida Limited Partnership Entity, To Develop The Carver Theater Project; And Whereas, This Board Desires To Allocate $2,200,000.00 Of Project No. 368 Funds To The Developer For The Design And Construction Of Public And Neighborhood Infrastructure Improvements Necessary For The Development Of The Carver Theater Project; And Whereas, As Part Of The Fiscal Year 2022-2023 County Budget, This Board Approved $5,000,000.00 In The Miami Rescue Plan To Be Used For Affordable Housing Units At Carver Theater; And Whereas, This Board Desires To Allocate $5,000,000.00 Of These Miami Rescue Plan Funds To The Developer For The Design And Construction Of 84 Multifamily Units Of Affordable Housing At The Carver Theater Project To Be Set Aside For Persons And Families At 80 Percent Or 60 Percent Of Ami; And Whereas, This Board Further Desires To Authorize The County Mayor Or County Mayors Designee To Negotiate, Approve, Execute And Record Funding Agreements And A Rental Regulatory Agreement With Developer For The Miami Rescue Plan Funds And To Enforce All Provisions Of Said 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 Rescinds The Allocation Of $2,200,000.00 Of Project No. 368 Funds And Approves Allocations To The Developer As Follows: (A) $2,200,000.00 Of Project No. 368 Funds To Be Used For The Design And Construction Of Public And Neighborhood Infrastructure Improvements Necessary For The Development Of The Carver Theater Project; And (B) $5,000,000.00 Of Miami Rescue Plan Funds Allocated To Affordable Housing Units At Carver Theater To Be Used For The Design And Construction Of 84 Multifamily Units Of Affordable Housing At The Carver Theater Project To Be Set Aside For Persons And Families At 80 Percent Or 60 Percent Of Ami. Section 3. This Board Authorizes The County Mayor Or County Mayors Designee To Negotiate, Approve, Execute And Record Funding Agreements And A Rental Regulatory Agreement With Developer For The Miami Rescue Plan Funds And To Enforce All Provisions Of Said Agreements.