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George Mensah Director of Community & Economic Development Dept City of Miami

Parkview Gardens National Community Development Association 2013 Winter Conference January 30 - February 1. George Mensah Director of Community & Economic Development Dept City of Miami. Site. Site History. Total site consist of 4 independent folios

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George Mensah Director of Community & Economic Development Dept City of Miami

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  1. Parkview GardensNational Community Development Association 2013 Winter Conference January 30 - February 1 George Mensah Director of Community & Economic Development Dept City of Miami

  2. Site

  3. Site History Total site consist of 4 independent folios 3 properties were purchased in October 2002 using HOME funds initially but was replaced with Bond funds 2 properties were purchased in the seventies using Federal Revenue sharing funds. The resolution authorizing the purchase of these properties said it would be used to extend African Square park. In October 2006, a purchase and sale agreement was entered into with Parkview Gardens, LLC, which was a partnership between Tacolcy Economic Development Corporation, a non-profit community development organization in the community and Carlisle Development Group, a for-profit Tax Credit developer.

  4. Development History Project started out as a 40 unit townhouse rental development Received Bonds and 4% tax-credits from Florida Housing Finance Corporation in 2006 In November, 2008, the city approved the replacement of Carlisle Group with Carrfour Supportive Housing The number of units was changed from 40 to 60 units Converted the Bonds and 4% Tax-credits to a 9% Tax-credit

  5. Development History Permits, zoning approvals, zoning variance, community challenges, OIG investigations took more than 2 years Ground breaking on Sept 27, 2011 Opening Ceremony October 30th, 2012

  6. Construction Financing

  7. Permanent Financing

  8. Project Mix

  9. Project Description • Parkview Gardens consists of • six, three-story residential buildings, • a community center, • and a two-story parking garage. • Amenities • children‘s playground, • exercise room, • computer lab, • library • picnic area.

  10. Income Set-asides • Maximum resident income 60% AMI • Set-Asides: • 6 units at 33% AMI

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