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08.12.2013 CITY OF MIAMI GARDENS SPECIAL CITY COUNCIL MEETING AUGUST 12, 2013 (A) CALL TO ORDEWROLL CALL The City Council for the City of Miami Gardens, Florida, met in special session, Monday, August 12, 2013, beginning at 10:00 am., in the City Council Chambers, 1515 NW 167h Street, Building 5, Suite 200,Miami Gardens,Florida. The following members of the City Council were present: Mayor Oliver Gilbert, Vice Mayor Lisa C.Davis,and Council members Felicia Robinson and Rodney Hams. Councilmembers Lillie Q.Odom,David Williams Jr.,and Erhabor Ighodaro were not present. (B) INVOCATION- Mayor Gilbert delivered the Invocation. (C) PLEDGE OF ALLEGIANCE -Pledge of Allegiance was recited in unison. (D) RESOLUTION/PUBLIC HEARING(S) RESOLUTION NO.2013-193-1889 D-1) A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NIIANII GARDENS, FLORIDA, APPROVING THE ISSUANCE BY THE CAPITAL TRUST AGENCY OF ITS REVENUE BONDS,FOR THE PURPOSES OF SECTION 147(F) OF THE INTERNAL REVENUE CODE; PROVIDING FOR OTHER RELATED MATTERS PROVIDING FOR THE ADOPTION OF REPRESENTATIONS; PROVIDING FOR AN EFFECTIVE DATE. (SPONSORED BY THE CITY MANAGER) Dr. Danny O.Crew,City Manager,requested the transcript submitted to the City Council as part of the back up to this item titled "TEFRA HEARING PROCDURES (EHDOC ROBERT SHARP TOWERS 11 LP)"be included with the official minutes of this meeting. This transcript has been attached as Exhibit A. Motion offered by Councilman Hams and properly seconded by Vice Mayor Davis to adopt this Resolution. There being no further discussion, the motion to adopt passed and carried by a unanimous vote of the members present. Special City Council Minutes-August 12, 2013 Page 1 t (E) ADJOURNMENT. There being no further business to come before this Body, the meeting adjourned at 10:05 a.m. Attest: 717 liver G. Mayor Ronetta Taylor, C,City Clerk ftwe of Pfau C=*of Mie■w)ft% CttTIVICAT(ON !,dw wdrsiged,daft'Wpirad City Craft of tie City of fllisssi ander.Fiends. hueby ad* do tit attscbed is iwe uand correct copy of +.I+p 1�_, s+�u_ Ems.as�bo�rA in Ibe noo�ds of dte city ow Ne in dw ofteof the city ck& WiONs'■1y had ad theoapast wel pfSe ek of Miwi tfadeta,ftfitxidt,tl��� C*c 1 � P 4' \rily of f)lei. r Special City Council Minutes-August 12,2013 Page 2 TEFRA HEARING PROCEDURES (EHDOC ROBERT SHARP TOWERS 11 LP) (1) Could you please describe the facility to be financed with the Bonds? The Bonds are being issued for the purpose, among other things, of financing or refinancing the costs of the acquisition, construction, improvement, renovation, and equipping of an existing 110-unit, low-income multifamily rental housing facility known as Robert Sharp Towers II, which is located at 115 N.W. 202nd Terrace, Miami Gardens, Florida 33169, Miami- Dade County,Florida. The Robert Sharp Towers II will be acquired and owned by EHDOC Robert Sharp Towers II LP, a Florida limited partnership, or one or more of the subsidiary corporations, limited liability companies or limited partnerships of Elderly Housing, Development and Operations Corporation, who shall be hereinafter referred to as the Borrower and whose principal place of business is 1580 Sawgrass Corporate Parkway, Suite 210,Ft.Lauderdale, Florida 33323. 2) How will the Bond proceeds be used? The proceeds of the Bonds will be loaned to the Borrower for the purpose of, among other things, acquiring, constructing, improving, renovating and equipping the Robert Sharp Towers II. 3) What is the public purpose for the Bond Issue? The public purpose for this bond issue is to provide quality, safe, decent and accessible multifamily rental housing for low-income residents, improve low-income housing, improve living conditions and provide and preserve employment in the community where the Robert Sharp Towers II is located. The contemplated financing will allow the Robert Sharp Towers II to continue to comply with all applicable tenant eligibility requirements and will not change the nature or character of the facility. 4) Will the Capital Trust Agency or the City be responsible for repaying the Bonds? The Bonds will expressly state that none of the Capital Trust Agency, the City of Miami Gardens, the City of Gulf Breeze, the State, or any other municipality, political subdivision, or public agency of the State is liable to pay the principal of or interest on the Bonds. MW-Tefra Script Miami Gardens(EDHOC Robert Sharp Towers II LP Project)—2059243.0038—(08-02-2013)-#50054805(v.1) 4- 5) What is the maximum amount of tax-exempt Bonds that will be issued? The maximum amount of tax-exempt Bonds to be issued to provide funds for the facility will be approximately$10,000,000. The audience should be asked: 1) Are there any persons who wish to speak for or against the Bonds or the facility to be financed thereby? 2) Have any written communications been received(read into record). Then conclude the public hearing. Mw-Tefra Script Miami Gardens(EDHOC Robert Sharp Towers 11 LP Project)—2059243.0038—(OM2-2013)-#50054805(v.1) -2-