R7D - Amend Collins Park Workforce Housing

A Resolution Of The Mayor And City Commission Of The City Of Miami Beach, Florida, Following A Duly Advertised Public Hearing, Authorizing (1) Amendment No. 1 To The Development Agreement Between The City Of Miami Beach And Servitas, Llc, Approved Pursuant To Resolution No. 2021-31553; (2) Amendment No. 1 To The Lease Agreement Between The City Of Miami Beach And Community Finance Corporation, An Arizona Not-for-profit Corporation, Or An Affiliate Thereof, Approved Pursuant To Resolution No. 2021-31554; Said Amendments Modifying, On A Temporary And Limited Basis, The Required Mix Of Income-eligible Tenants Of The Workforce Housing Units At The Collins Park Artist Workforce Housing Project, To Allow For The Issuance Of Subordinate Debt Financing For The Project, Provided That All Of The Workforce Housing Units For The Project Shall Be Rented Solely To Eligible Individuals Earning 120% Or Less Of The Area Median Income For Miami-dade County, Consistent With All Applicable Requirements Relating To Workforce Housing As Provided In Chapter 58 Of The City Code; And Further, Authorizing The Mayor And City Clerk To Execute The Final Negotiated Amendments.