PH.6 - A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), AUTHORIZING THE ALLOCATION OF FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($400,000.00) IN MIAMI FOREVER AFFORDABLE HOUSING LIMITED AD VALOREM BOND FUNDS, AND THE AMOUNT OF TWO HUNDRED THOUSAND AND 00/100 DOLLARS ($200,000.00) FROM THE DISTRICT 4 COMMISSIONER’S SHARE OF THE AFFORDABLE HOUSING TRUST FUNDS, FOR A TOTAL ALLOCATION OF AN AMOUNT NOT TO EXCEED SIX HUNDRED THOUSAND AND 00/100 DOLLARS ($600,000.00) TO STATION 27 INC., A FLORIDA PROFIT CORPORATION, FOR THE DEVELOPMENT OF AN AFFORDABLE HOUSING PROJECT LOCATED AT 2815 SOUTHWEST 27TH TERRACE, MIAMI, FLORIDA, 33133; SUCH ALLOCATION IS SUBJECT TO COMPLIANCE WITH THE CITY OF MIAMI’S ("CITY") DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT GUIDELINES, THE RECEIPT BY THE CITY MANAGER OF THE WRITTEN APPROVAL OF THE PROJECT BY THE CITY’S HOUSING AND COMMERCIAL LOAN COMMITTEE (“HCLC”), AND SUBJECT TO THE TERMS, CONDITIONS, AND RESTRICTIONS CONTAINED IN THE HCLC APPROVAL (COLLECTI...
November 19, 2026
Sponsors
Commissioner Ralph "Rafael" Rosado (D4)
Department: Department of Housing and Community Development
Category: Other
WHEREAS, Station 27 Inc., is a Florida for Profit Corporation (“Developer”) established for the sole purpose of developing an affordable housing project known as Station 27 (“Project”); and
WHEREAS, the Project is located at 2815 Southwest 27 Terrace, Miami, Florida, 33133 (“Property”); and
WHEREAS, the Project will be a 5-story rental mixed-use building with a total of fifteen (15) units and 3,650 sq. ft. of commercial/retail space; and
WHEREAS, the Project will have six (6) studios, and nine (9) one bedroom/one-bathroom units, where ten (10) units will be set-aside for households at or below 80% of area median income as stipulated by the United States Department of Housing and Urban Development annually (“AMI ”), and five (5) units will be for households with incomes up to 120% AMI; and
WHEREAS, the studios will be approximately 400 sq. ft., and the one bedroom/one bathroom unit will be approximately 550 sq. ft.; and
WHEREAS, the City previously allocated Four Hundred Thousand and 00/100 Dollars ($400,000.00) of Miami Forever Affordable Housing Bond Program funds to the Housing Preservation Program ("HPP") Strategy; and
WHEREAS, the City’s Housing and Community Department finds that such funds are no longer needed for the HPP Strategy and desires to reallocate such funds to the Affordable New Construction Rental Strategy for the development of affordable housing through the Project; and
WHEREAS, the City’s Administration recommends the allocation of Four Hundred Thousand and 00/100 Dollars ($400,000.00) in Miami Forever Affordable Housing Limited Ad Valorem Bond funds and the amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00) from the District 4 Commissioner’s Share of City’s Affordable Housing Trust Funds, sourced from the Swire Properties Agreement, for a total allocation of Six Hundred Thousand and 00/100 Dollars ($600,000.00) for 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. Subject to the receipt by the City Manager of the City’s Housing and Commercial Loan Committee (“HCLC”) Approval and the requirements contained therein and in this Resolution, the City Commission hereby authorizes, the allocation of Four Hundred Thousand and 00/100 Dollars ($400,000.00) of the Miami Forever Affordable Housing Limited Ad Valorem Bond funds, and the amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00) from the District 4 Commissioner’s Share of the City’s Affordable Housing Trust Funds, sourced from the Swire Properties Agreement, for a total allocation of Six Hundred Thousand and 00/100 Dollars ($600,000.00) for the Project.
Section 3. Subject to the receipt by the City Manager of the HCLC Approvals, 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 applicable laws, rules and regulations, and subject to the Developer fulfilling all of the terms and conditions to be set forth in the HCLC Approval, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoptionand signature of the Mayor.
WHEREAS, the Project is located at 2815 Southwest 27 Terrace, Miami, Florida, 33133 (“Property”); and
WHEREAS, the Project will be a 5-story rental mixed-use building with a total of fifteen (15) units and 3,650 sq. ft. of commercial/retail space; and
WHEREAS, the Project will have six (6) studios, and nine (9) one bedroom/one-bathroom units, where ten (10) units will be set-aside for households at or below 80% of area median income as stipulated by the United States Department of Housing and Urban Development annually (“AMI ”), and five (5) units will be for households with incomes up to 120% AMI; and
WHEREAS, the studios will be approximately 400 sq. ft., and the one bedroom/one bathroom unit will be approximately 550 sq. ft.; and
WHEREAS, the City previously allocated Four Hundred Thousand and 00/100 Dollars ($400,000.00) of Miami Forever Affordable Housing Bond Program funds to the Housing Preservation Program ("HPP") Strategy; and
WHEREAS, the City’s Housing and Community Department finds that such funds are no longer needed for the HPP Strategy and desires to reallocate such funds to the Affordable New Construction Rental Strategy for the development of affordable housing through the Project; and
WHEREAS, the City’s Administration recommends the allocation of Four Hundred Thousand and 00/100 Dollars ($400,000.00) in Miami Forever Affordable Housing Limited Ad Valorem Bond funds and the amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00) from the District 4 Commissioner’s Share of City’s Affordable Housing Trust Funds, sourced from the Swire Properties Agreement, for a total allocation of Six Hundred Thousand and 00/100 Dollars ($600,000.00) for 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. Subject to the receipt by the City Manager of the City’s Housing and Commercial Loan Committee (“HCLC”) Approval and the requirements contained therein and in this Resolution, the City Commission hereby authorizes, the allocation of Four Hundred Thousand and 00/100 Dollars ($400,000.00) of the Miami Forever Affordable Housing Limited Ad Valorem Bond funds, and the amount of Two Hundred Thousand and 00/100 Dollars ($200,000.00) from the District 4 Commissioner’s Share of the City’s Affordable Housing Trust Funds, sourced from the Swire Properties Agreement, for a total allocation of Six Hundred Thousand and 00/100 Dollars ($600,000.00) for the Project.
Section 3. Subject to the receipt by the City Manager of the HCLC Approvals, 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 applicable laws, rules and regulations, and subject to the Developer fulfilling all of the terms and conditions to be set forth in the HCLC Approval, for said purpose.
Section 4. This Resolution shall become effective immediately upon its adoptionand signature of the Mayor.
Fiscal Impact
Total Fiscal Impact: $600,000.00