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Committee authorizes up to $7 million in District 3 GOB and public‑benefit funds for Essence Miami, with equity condition
Summary
The committee approved up to $5.39 million in Miami Forever GOB funds and $1.61 million in public‑benefit trust funds for the Essence Miami project in Little Havana, bringing total city funding to $12 million; the committee asked staff to secure a minimum developer equity contribution of about $6.1 million.
The Housing Commercial Loan Committee on May 20 approved a staff recommendation to allocate District 3 Miami Forever general obligation bond (GOB) funds and public‑benefit trust monies totaling $7,000,000 to H Street Properties LLC for the Essence Miami development in Little Havana.
Staff said the allocation consists of $5,390,000 in GOB funds and $1,610,000 in District 3 public‑benefit trust funding, and that the additional award brings total city funds for the project to $12,000,000. Essence Miami is planned as an eight‑story mixed‑use building at 829 Southwest Eighth Street that will contain 88…
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