PH.3 - Title Missing or Incomplete

WHEREAS, on October 14, 2025, SG Little Havana, LLC (“Developer”), submitted to the City a Letter of Request for the development of affordable rental project for low-income seniors (“Project”) within District 3; and

WHEREAS, Swerdlow Group, is the parent company of the Developer and Swerdlow Group has completed various affordable housing developments within the City and currently has others at various stages of construction, and is currently in good standing with the City; and

WHEREAS, the Developer will secure additional funding from Miami-Dade County and other third parties, to complete the construction of the Project; and

WHEREAS, the City’s Housing and Commercial Loan Committee (“HCLC”) has not yet reviewed a completed proposal for the Project in order for the Project to receive a grant of funds and, therefore, any City Commission approval is subject to the approval of the Project by HCLC (“HCLC Approval”) and the Developer fulfilling, in a timely manner, any and all terms, requirements, and conditions set forth in the HCLC Approval; and

WHEREAS, upon completion of the Project, the development will contain a minimum of three hundred (300) affordable rental units which are projected to be set aside for households earning an average annual income of sixty percent (60%) area median income (“AMI”), as published annually by the United States Department of Housing and Urban Development, and as specified in the final HCLC Approval letter; and

WHEREAS, the City’s District 3 Commissioner (“Commissioner”) wishes to provide grant funding on a reimbursement basis from the Commissioner’s Project No. 40-B263412 in an amount not to exceed Four Million and 00/100 Dollars ($4,000,000.00) (“Funds”) for the Project; and

NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:

Section 1. The recitals and findings contained in the Preamble of this Resolution are adopted by reference and incorporated herein as if fully set forth in this Section.

Section 2. By a four-fifths (4/5ths) affirmative vote, after an advertised public hearing, the City Manager’s determinations, findings, and recommendation, attached and incorporated as Exhibit “A,” pursuant to Section 18-85(a) of the Code of the City of Miami, Florida, as amended, are ratified, approved, and confirmed and the City Commission hereby waives the requirements for said procedures.

Section 3. The City Manager is authorized to allocate the Funds from the Commissioner’s Project No. 40-B263412 to Developer for the Project.

Section 4. Subject to the receipt by the City Manager of the HCLC Approval and the requirements contained therein and in this Resolution, the City Commission hereby authorizes1 and directs the City Manager to allocate funding in the form of a reimbursement grant in an amount not to exceed Four Million and 00/100 Dollars ($4,000,000.00) for the Project being developed by the Developer, provided that the Developer fulfills any and all terms and conditions set forth in the HCLC Approval and subject to compliance with all applicable laws, rules, and regulations.

Section 5. Subject to the receipt by the City Manager of the HCLC Approval, the City Manager is authorized1 to negotiate and execute any and all necessary documents, including amendments, extensions, and modifications, all in forms acceptable to the City Attorney, subject to compliance with all Laws and subject to the Developer fulfilling all of the terms and conditions of the HCLC Approval, in the form of a reimbursement grant to the Developer.

Section 6. This Resolution shall become effective immediately upon its adoption.