Res. No. 086-01-11234RESOLUTION NO.86-01 -11234
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA,APPROVING AN INTERLOCAL
AGREEMENT WITH THE SOUTH MIAMI COMMUNITY
REDEVELOPMENT AGENCY,AUTHORIZING A LOAN OF UP TO
$400,000 FORTHE PURCHASE OF 5825 SW 68™STREET(MOBLEY
PROPERTY),PROVIDING FOR A REPAYMENT SCHEDULE AND AN
EFFECTIVE DATE.
WHEREAS,theCity of SouthMiami(City)hascreatedaSouthMiamiCommunity
Redevelopment Agency (SMCRA)pursuant to Chapter 163,PartHI,Florida Statutes;and
WHEREAS,theCityandthe SMCRA desiretohave executed an interlocal agreement
providing for SMCRA budgeted fundstobe applied toward the purchase of this building and
property pursuant tothe South MiamiCommunity Redevelopment Plan.
NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI:
Section 1.TheCity Manager is authorized to execute an Interlocal Agreement with
the South Miami Community Redevelopment Agencyin substantially theform attached as
Exhibit "1."
Section 2.TheCityManagerisauthorizedtoprovidealoanupto$400,000tothe
South Miami Community Redevelopment Agency for the purchase of 5825 SW 68th Street
pursuant to the Interlocal Agreement.
Section 3.The South Miami Community Redevelopment Agency shall repay theCity
of South Miami fortheloaninfour annual equal installment payments beginning inFY01-02.
Page 2 of Res.No.86-01-11234
Section 4.The four annual equal installment payments made bythe South Miami
Community Redevelopment Agency shallincludeany interest andorloanfeesthattheCity of
South Miami incurs asa result of its loan tothe Agency.
Section 5.This resolution shallbe effective upon adoption.
PASSED AND ADOPTED this _12_day of June ,2001.
ATTEST:APPROVED:
CITY CLERK
g^y^^£^
READ AND APPROVED AS TO FORM:
<*W<£-.^^sT //*?
CITY ATTORNEY
MAYOR
Commission Vote:
Mayor Robaina:
Vice Mayor Feliu:
Commissioner Bethel:
Commissioner Russell:
Commissioner Wiscombe:
4-0
Yea
Yea
Yea
out of room
Yea
CITY OF SOUTH MIAMI
INTER-OFFICE MEMORANDUM
JUMmiteaCtty
I
Finalist
To:Honorable Mayor
andCity Commission
From:Charles Scurr /)/I
CityManager CM?
REQUEST
Date:June 5,2001
Subject:Meeting 6/12/01—_it
InterlocalAgreementwiththe
SMCRAforthepurchase of
5825 SW 68 Street
A RESOLUTION OFTHEMAYOR AND CITY COMMISSION OF THE
CITY OF SOUTH MIAMI,FLORIDA,APPROVING AN INTERLOCAL
AGREEMENT WITHTHE SOUTH MIAMI COMMUNITY
REDEVELOPMENT AGENCY,AUTHORIZING ALOAN OF UP TO
$400,000 FOR THE PURCHASE OF 5825 SW 68™STREET (MOBLEY
PROPERTY),PROVIDING FOR A REPAYMENT SCHEDULE AND AN
EFFECTIVE DATE.
BACKGROUND AND ANALYSIS
On March 5,2001,the South Miami Community Redevelopment Agency (SMCRA)Board
adopted Resolution Number CRA 7-01-56,approving a contract for sale and purchase of 5825
SW 68th Street (the Mobley Property).In the staff memo attached to that resolution,staff
indicated that it would bring the financing agreement to a subsequent meeting and identified
the Florida League of Cities Florida Municipal Loan Council Program as the preferred
financingmechanism.
After working with the League and other lenders,SMCRA staff learned that there were
concerns over the relative youth of the Agency and that the lenders would prefer to execute
any financing agreements with the City and allow the City to pass the funding through to the
SMCRA.5
The attached resolution and interlocal agreement would allow the City of South Miami to make
a loan of up to $400,000 to the SMCRA for the purchase of the Mobley Property.Staff
proposes to make the loan from the proceeds that it receives from its participation in the Loan
Council Bond Program.The SMCRA would be responsible for repayment of the $400,000
and any interest and/or loan fees that the City incurs on the loan made to the SMCRA.
The remaining balance on the purchase of the Mobley Property is $430,000.Thus with the
$400,000 loan from the City,the SMCRA could utilize funding appropriated'for land
acquisition in its FY 00-01 Budget to successfully close the purchase of the Mobley Property.
The proposed resolution and interlocal agreement provide the SMCRA's most viable and cost
efficient option to successfully finance the purchase of the Mobley Property and would allow
us to work together to fully implement our Murray Park Master Plan.There is no significant
risk to the City because the only reason the SMCRA would default is if it ceased to exist,in
which case the City would receive increased tax revenues to cover the repayment schedule.'
The proposed interlocal agreement was approved by the SMCRA Board on June 4,2001.
RECOMMENDATION
Your approvalis recommended.
-4/17/01
INTERLOCAL COOPERATION AGREEMENT
THIS INTERLOCAL COOPERATION AGREEMENT (Agreement)is made this
I^C day of 'T^O^^A 2002,between the City of South Miami,Florida,a
municipal corporation(City)andtheSouthMiami Community Redevelopment Agency,an
agencycreatedpursuanttoChapter 163,FloridaStatutes(Agency).
WHEREAS,theBoard of CountyCommissioners of Miami-DadeCounty,Florida
(Board)adoptedResolutionNo.R-1374-96 onDecember3,1996,which,amongotherthings,
declared thataslumorblightedareaexistedina geographic area,described generally as
bounded by S.W.62nd Avenue on the West,S.W.62nd Street on the North,S.W.57th Avenue on
the East and S.W.72nd Street on the South,(Redevelopment Area),determined that it was
necessarytoredeveloptheRedevelopmentAreainaccordancewiththeprovisions of PartIII of
Chapter163,FloridaStatutes(Act),anddelegatedtotheCityCommission of theCity of South
Miami,Florida(CityCommission)theauthoritytoexercisetheredevelopmentpowersconferred
upontheBoardwithintheRedevelopmentAreainaccordancewiththeActtoenabletheCity
Commissiontodeclaretheneedfor,createanddelegatepowerstoacommunityredevelopment
agencyandtoinitiate,prepareandadoptaplan of redevelopmentforfinalapprovalbythe
Board;and
WHEREAS,the City Commission,pursuant to Ordinance No.12-97-1633 enacted on
April 15,1997,accepted a delegation of powers from the Board,found a need forand created the
Agency,declared the members of theCity Commission tobe members of the Agency,granted
theAgencythe power toexerciseallpowerspermittedbytheActwhichweredelegatedbythe
BoardtotheAgencyanddirectedtheinitiation,preparation and adoption of acommunity
redevelopment plan by the Agency;and
WHEREAS,Chapter163,FloridaStatutes,provides forthe provision of community-
oriented services;and
WHEREAS,the City and the Agency wish to enter into this Agreement in order to
provideforthe purchase of property inthe Redevelopment Area.
NOW,THEREFORE,theCityandthe Agency agree as follows:
Section 1.The City shallfund money forthe acquisition of property located at5825
S.W.68 Street,South Miami,Florida,such property tobe titled inthe Agency for purposes of a
City/SMCRA Multi-Purpose Center.The principal loan provided bytheCityforthis purpose
shall be an amount not to exceed $400,000.
Section 2.The Agency shall repay theCityforthe acquisition infour annual equal
installment payments.
Section 3.This Agreement maybe amended onlyby written agreement signed bythe
Cityandthe Agency.
Section 4.This Agreement shallbe effective upon execution of the parties andshall
be subject toany required review andapprovalby Miami-Dade County.
IN WITNESS WHEREOF,the parties executed this Agreement this /day of
,20C£-rn^R
CITY OF SOUTH MIAMI,FLORIDA
City Manager
ATTEST:
By k#uU2>
City Clerk
APPROVED AS TO FORM
City Attorney
SOUTH MIAMI COMMUNITY REDEVELOPMENT
AGENCY
Executive Director
ATTEST:
By:f)/!LAuaZKZ;
Secretary
APPROVED AS TO FORM
General Counsel