PH.5 - A RESOLUTION OF THE MIAMI CITY COMMISSION, RESCINDING RESOLUTION NO. R-25-0062, ADOPTED ON FEBRUARY 27, 2025, AND REPLACING IN LIEU THEREOF A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR-FIFTHS (4/5THS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, APPROVING, AND CONFIRMING THE CITY MANAGER'S FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "B," THAT COMPETITIVE NEGOTIATION METHODS AND PROCEDURES ARE NOT PRACTICABLE OR ADVANTAGEOUS FOR THE CITY OF MIAMI ("CITY") PURSUANT TO SECTIONS 29-B(A) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED (“CITY CHARTER”), AND SECTION 18-182(C) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED (“CITY CODE”); WAIVING THE REQUIREMENTS FOR SAID PROCEDURES; AUTHORIZING THE CITY MANAGER TO EXECUTE A NINETY NINE (99) YEAR GROUND LEASE AGREEMENT (“LEASE”), BETWEEN THE CITY OF MIAMI (“CITY”) AND 5350 FLAGLER STREET, LLC (“DEVELOPER") ON THE CITY-OWNED PARCEL OF LAND LOCATED AT 5350 WEST FLAGLER STREET, MIAM...

WHEREAS, pursuant to Resolution No. R-25-0062, adopted on February 27, 2025, the City Commission authorized the leasing of certain City of Miami (“City”) owned parcels to 5350 Flagler Street, LLC (“Developer”) for the development of an affordable rental housing project for seniors consisting of approximately ninety-eight (98) units; and WHEREAS, it is the intent of the Developer and the City for the Project to be developed as a affordable rental housing project for low-income seniors on the parcels under a ninety-nine (99) years ground lease (“Lease”); and WHEREAS, Section 29-B(a) of the City Charter allows for the conveyance or disposition of City-owned property for the implementation of projects which are intended to benefit people or households with low and/or moderate income; and WHEREAS, the development of affordable housing projects requires the Developer to obtain construction and permanent loans from lenders, housing finance agencies, and other funding sources; and WHEREAS, such financing sources customarily require evidence of site control, including an executed ground lease, prior to issuing binding financing commitments; and WHEREAS, the City Commission finds that execution of the ground lease agreements is necessary to allow the Developer to obtain the financing required to construct the Project; and WHEREAS, the City Commission desires to clarify that the ground lease agreements may be executed for purposes of establishing site control and facilitating financing; and WHEREAS, the City shall require the following in order to lease the Parcels to the Developer: (i) evidence satisfactory to the Director of the Department of Housing and Community Development (“Director”) that financial commitments from the lender or lenders have been received; (ii) any mortgages obtained by the Developer on the Parcel(s) will be subject to the approval of the Director, which such approval shall not be unreasonably withheld; and WHEREAS, the approval of the Lease shall be subject to compliance with all applicable federal, State of Florida, and local laws, rules, regulations, or restrictions; upon successful remediation of existing environmental conditions, if any; and the negotiation and execution of any other necessary documents all in form(s) acceptable to the City Attorney, for the purposes stated herein and in furtherance of the Project; NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted by reference and incorporated as if fully set forth in this Section. Section 2. Resolution No. R-25-0062 is hereby rescinded in its entirety. Section 3. The City Manager is hereby authorized to negotiate and execute a ninety-nine (99) years ground lease agreement (“Lease”), between the City and 5350 Flagler Street, LLC for the City-owned parcels of land located, as legally described in Exhibits “A,” attached and incorporated, for the development of a mixed use affordable rental housing project for low-income seniors, all in a form acceptable to the City Attorney, for purposes of establishing site control and facilitating the Developer's ability to obtain construction and permanent financing for the Project, and providing that to the extent any language contained in Resolution No. R-25-0062 could be interpreted to prohibit execution of the ground lease agreements prior to the closing of the construction financing, such language is hereby clarified and superseded by this Resolution. Section 4. The ground lease agreements shall ensure that the lease shall not become effective, and no leasehold estate shall be created until the closing of construction financing for the Project. Nothing herein shall be construed to waive the requirement that construction financing be obtained prior to commencement of development of the Project. Section 5. The ground lease agreements shall require the Developer to pursue development of the Project in good faith and to use commercially reasonable efforts to obtain all necessary governmental approvals and financing as promptly as practicable following execution of the lease agreement. Section 6. By a four-fifths (4/5ths) affirmative vote, after an advertised public hearing, the City Manager’s determinations, findings, and recommendations, attached and incorporated as Exhibit “C,” pursuant to Sections 29-B(a) of the City Charter are ratified, approved, and confirmed and the City Commission hereby waives the requirements for said procedures. Section 7. The City Manager is authorized to negotiate and execute the ground lease agreements, and any amendments, extensions, or related documents, all in a form acceptable to the City Attorney. Section 8. This Resolution shall become effective immediately upon adoption and the signature of the Mayor.2