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Res No 047-11-13361RESOLUTION NO. 47 -11 -13361 A Resolution of the Mayor and City Commission of the City of South Miami, Florida relating to the review and acceptance of the Annual Affordable Housing Report of the RRC 57th Avenue LLC on their mixed use development project known as Red Road Commons located at 6600 -6640 SW 57th Avenue; said report required in compliance with Section 2(f) of the Development Agreement executed between the City of South Miami and RRC 57th Avenue LLC by the adoption of Ordinance No. 12 -05 -1834; and providing an effective date. WHEREAS, the City Commission at its April 9, 2005 meeting approved Ordinance No. 12 -05 -1834 allowing RRC 57th Avenue LLC to construct a project that includes 404 residential units and retail space. The approval included a zoning map amendment granting a PUD -M zoning district, an approval of a master site plan, and the approval of a Development Agreement; and WHEREAS, the City Commission approved a Development Agreement for the mixed use development project, known as Red Road Commons on April 9, 2005 via Ordinance No. 12 -05 -1834, which agreement was fully executed and was recorded in the County registry of deeds on March 29, 2007 as required by Section 30 of the Agreement; and WHEREAS, the Development Agreement includes the Housing requirement Section 2(f) that the Applicant submit proof of compliance to the City Manager on or before January 15 which report is a status report showing that obligations have been met and that there has been compliance with the provisions of the Agreement.; and WHEREAS, the 2011 Housing report was submitted to the City on January 11, 2011 from the developer's attorney Jerry Proctor, said report concluding that annual housing of the obligations set forth in the Development Agreement are met; and WHEREAS, the annual housing report in accordance with the Development Agreement must be reviewed by the City Commission at a public meeting and the City Commission may accept the report or if there is a finding by the Commission that there has been a failure to comply with the terms of the Development Agreement, the Agreement may be revoked or modified by the City. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA: Section 1. The 2011 Annual Housing Report submitted by RRC 57th Avenue, of the property located at located at 6600 -6640 SW 57 Avenue as required by Section 2(f) of the Development Agreement is accepted. Section 2. This resolution shall be effective immediately upon being approved. Res. No. 47 -11 -13361 PASSED AND ADOPTED thisl 5, day of March , 2011 ATTEST: CITY CLERK READ AND APPROVED AS TO FORM AND SUFFICIENCY: i 1. ' : sumn�7 Commission Vote: 5 -0 Mayor Stoddard: Yea Vice Mayor Newman: Yea Commissioner Palmer: Yea Commissioner Beasley: Yea Commissioner Harris: Yea LCH Y: \Comm Items \2011\3 -15 -1 I\RRC 57 Avenue - ANNUAL REPORT - DEV. AGREEMENT \Red Road Commons Affordable Housing - Sec. 2f Resolution 201 I .doc South Miami *AMM80Y CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER - OFFICE MEMORANDUM 2001 To: The Honorable Mayor Stoddard and Members of the City Commission Via: Hector Mirabile, Ph.D., City Manager From: Lourdes Cabrera, Acting Director Planning and Zoning Department Date: March 15, 2011 ITEM NO. Subject: A Resolution of the Mayor and City Commission of the City of South Miami, Florida relating to the review and acceptance of the Annual Affordable Housing Report of the RRC 57th Avenue LLC on their mixed use development project known as Red Road Commons located at 6600- 6640 SW 57th Avenue; said report required in compliance with Section 2(f) of the Development Agreement executed between the City of South Miami and RRC 57th Avenue LLC by the adoption of Ordinance No. 12 -05 -1834; and providing an effective date. PROJECT SUMMARY In 2005 the City Commission approved the Red Road Commons Project located at 6600 -6640 SW 57 Avenue and 5757 SW 68 Street. The project includes 404 residential units and retail space. The approval included a zoning map amendment granting a PUD -M zoning district, an approval of a master site plan, and the approval of a Development Agreement. AFFORDABLE HOUSING COMPLIANCE In the Development Agreement certain obligations of the developer were set forth related to affordable housing in the development. Section (2f) on p. 3 of the attached Development Agreement requires that 10% of the housing units must be rented as affordable units. hi addition the developer must present annually to the City by January 15, a report demonstrating compliance with the affordable housing requirement. This report was submitted on January 13, 2011 and is attached. VERIFICATION OF UNITS In March 2010, after the submission of their first Affordable Housing Compliance Report the submitted list of the units occupied by affordable housing households was verified by Planning and Zoning Department staff. The rental file of each unit listed was examined to determine if the household income threshold did not exceed the maximum limit defined as affordable. The March 2010 verification session indicated that 35 units of the 314 units (10% +) rented were households within the income range determined to be within the income levels defined as affordable housing for this project. AFFORDABLE HOUSING 2011 REPORT The current 2011 affordable housing annual report is in the form of a two page letter dated January 11, 2011 from the developer's attorney Jerry Proctor, Esq. and a one page summary chart. The attached data chart lists for each rented affordable unit, the number of bedrooms (unit type), lease holder's annual income, monthly rent, and percent of income spent on rent. A total of 39 units out of 386 units currently rented are classified as affordable (annual income under $62,640 and monthly lease not exceeding 120% of annual income). This total is equal to 10% of currently rented units being in the affordable housing classification. ADMINISTRATION RECOMMENDATION The report meets the compliance requirement of the Development Agreement. The developer will be advised that the affordable housing commitment is 41 units (based upon 10% of the 404 units) and that full rental of the building will require a commitment to two additional affordable housing units. Attachments: LetterfromJ Proctorl -11 -71 (Annual Report) Red Road Commons Development Agreement LCH YAComm Items\201I \3- 15- 1I1RRC 57 Avenue - ANNUAL REPORT - DEV. AGREEMENTIRED Rd Commons Annual Report 2011 - Affordable Housing - Sec. 2fdoc Bilzin Sumberg ATTORN W YS AT :,AIM Jerry B. Proctor, Esq. Tel 305.350.2361 Fax 305.351.2250 iproctor@bilzin.com January 11, 2011 Via Hand Delivery Dr. Hector Mirabile City Manager City of South Miami 6130 Sunset Drive South Miami, FL 33143 Re: 'Red Road Commons" Property: 6600 -6640 SW 57 Avenue and 5757 SW 68 Street, South Miami, FL Housing Report Dear Dr. Mirabile: Our firm represents Wood Partners ("Wood "), owners and operators of the 'Red Road Commons" mixed use development at 6600 -6640 SW 57 Avenue and 5757 SW 68 Street (the "Property") in the City of South Miami. Pursuant to the Development Agreement between the City of South Miami and RRC 57th Avenue, LLC (a "Wood" entity), a copy of which is enclosed, a minimum of ten percent (10 %) of the residential units on the Property will rent to individuals or families in the Moderate Income Segment of the Affordable Housing Group. This requirement is contained in paragraph 2f on page 3 of the Development Agreement. Determination of the Moderate Income Segment is made annually through the provision of the Area Median Income from Miami -Dade County by the United States Department of Housing and Urban Development. The area median income for Miami -Dade County is $52,200, as determined by U.S. Housing and Urban Development in February 2010. (AMI levels are determined each February or March by HUD) Moderate income is defined as those earning between 80% to 120% of the annual median income. Accordingly, the current income level per unit to comply with the 10% requirement is between $41,760 per year and $62,640 per year. Enclosed please find a list of the units where the residents comply with the Moderate Income Segment and, therefore, qualify the units as such pursuant to the Development Agreement. As of December 31, 2010, 386 units in 'Red Road Commons" were rented out; accordingly, the attached list of units and incomes complies with the 10% requirement. MIAMI 2397208.1 7743027649 1/12111 BILZIN SUMBERG BAENA PRICE & AXELROD LLP 1450 Brickell Avenue, Suite 2300, Miami, FL 33131 -3456 Tel 305.374.7580 Fax 305.374.7593 .. toi, ,: <. . Dr. Hector Mirabile City of South Miami January 11, 2011 Page 2 I trust this submittal complies with the annual housing requirement in the Development Agreement. Please give me a call if you have any questions. Sincerely, Jerry . Proctor 9:10no c: Thomas Vageline, City of South Miami (w /encl.) Laurence Feingold, Esq, City Attorney (wfencl.) Jim Kelly (wlencl.) Diego Sanchez (Wend.) MIAMI 2397208.1 7743027649 1/12/1.1 �''` BILZIN SUMBERG BAENA PRICE 8, AXELROD LLP Title hurnnngnt prepared tinder the tuperviaioa: gad when recorded return to: ?rny B, Praetor, Eag.. $11xA3 Sumbirg Baaw Price di Aaetwd LLP zoo South Biscayne Boulevard salt; 2500 Miami, Florida 3W%J -2330 DEVELOPMENT AGREEMENT OF" 21007i2p323 '6 at 1:010 9603l3Bl p7'16a102t31r si NRRVEY �SNr�C1T£RKLt ART (Space ttea;rved foraerk) This Development Agtoetttent is made as of this a dal af�Ql S 2007, C and between The City of South Miami, Florida, a municipal corporation ("City") and SiRC 57 h Avenue, LLC ( "Applicul%11- Applicant hereby voluntarily makes, declares, and imposes' on the property described below, this agreement ru ming with the title w the land, which shall be binding on and shalt Inure to the benefit of the Applicant, successor; and. assigns, mortgageea, lessees, and against all, persons claiming by, through, or ardor them until sueh time as this Development Agreement ( "Development Agreement ") is- released in writing as hereinafter provided; WHERF -4S, Applicant owns`the property in the City, in Miami -Dads County, Florida, legally described on Exhibit "A ", also known as 6600 -66(40 S.W. 57 Avenue and 5757 SW 68 St(et (the ,prilparly "), and . WjfERF -43, on July 22, 2004 Applicant Piled an application with the City to rezone the property from TODD (4U -4) (Transit Oriented Development District) canto PUDand(Planned Unit Devclopmenr =Mixed Use), and to obtain site plan approval (the "App ` WHZPMA,S, the Florida Local Oovenrment Development Agreement Act, sot forth in sections 163.3220 - 163.3243, -Florida Statutes, (the "Act ") provides for the execution of development agreemetptS to hrsure• that the law in effect at the time of the execution of the dovelopment. agreement shall govern the development of the land for the duration of the agreement. NOW' THEREFORE, in consideration of the covenanta,-condidons, and promises herein contained, the receipt and sufficiency of which are expressly acknowledged, Applicant and the City hereby agree as follows: NUMV11 919310.15 733ee2[S3a 3WN7 EX WBiT "A" L Renvittid yhgm D 1 ' . Pursuant to . the provisions of Chapter 20, Land Developtmant Regulations of the City of South Misim, the Property will be improved with the following: s. There shall be no more than 407 residential units on the Property. b, The Property shall also, be developed with retail space and a leasing office. Q. Development on the Property shall not exceed five (5) stories above grade, in height d. Development of the Property shall be in accords= with the adopted master site plan on file at the City, including elevations, architectuml features, and estimated commercial squansfootage pursuant to Section 20.3 -7, City Code: e. Development of the Property shall be in one (1) phase, f. A building permit for development of the project must be applied for within 6 months of the date on which this final development agreement is signed, notwithstanding the provisions of LDC Section 20- 3.7(0, Explrations of PUD Approvals. 2. in order to enhance public facilities in the City of South xecs to provide services in compliance with Section 2041 of a. Water and Sewer services that comply with all requirements of MiamE-Dade County for any building prior to issuance of a final Certificate of Use and Occupancy. b. Solid Waste services that comply with all requirements of Miami Dade County far any'bailding prior m issuance of a Heal CerdSoate oPUse and Occupancy. C. Drainage services that comply with all requirements of the Florida Building Code prior to the occupancy ofany ,buildings. d. Based on the projected residential population on the Property, Applicant agrees to donate $928,000 in one lump sum as its responsibility for. meeting park and recreation concorrency. Payment shall be raado on or before receipt of the Brat building permit and shall include any interest or cariying cost insured by the City antic receipt of the payment interest calculations are indicated on attached Exhibit "B ", incorporated herein by reference. e. Traffro•Applicant will obtain necessary govermnamal approvals, and cause to have placed and operational a separate laft turn, northbound entrance lane on Red Road (SW 57 Avetute) into the nortlu m nest proposed driveway on Red Road on. the Property, priorto the. occupancy of any buildings-on the Property. In addition, Applicant will present plans within two (2) years after the recording of this t. nAima198nars7=02tsst 2 VMW Development Agreement to governmentai authorities, including the Florida Department or Transportation, for beautification of the median am to consist of curb and gutter improvorremis and landscaping in the center of Red Road (SW 57 Ayormo).direetly south of the intersection of Red Road and Ponce do Leon Boulevard. Subject to approval of necessary permits by governmental authorities, Applicant will pay for and construct the beaatibeation Improvements; L Housing — A requirement of ten percent (10 6%) of the units will rent to individuals or families in the moderate income segment of the arrordable housing group..'If -the residential unha convert to condmniniums, ten percent (10 %) of tho units will be sold to individuals or families in the moderate income sogmettt of 410 affordable housing group. in analyzing compliance with this paragraph, the City shall allow minor deviations resulting from short-term vacancies. Incomes shall be based on Area Median income (Anil), as defined by the U.S. Department of Housing and Urban Development. Prof of Compl(ancc with this requirement on _ an annual basis shall be provided in writing on or before Jimbsiry 15 of the following year to the City Manager. In addition, the Applicant shall make a payment ors 100,000 to the City on or before the issuance of the fast certificate of use and occupancy for the development on the Property, to be placed in a City trust fund to assist in the development of low income housing in the City's Community Redevelopment Agency area. 3. Tares: Applicant ogre" to pay all taxes to the City of South Miami in an amount equal to !tie annual Operating Millage Rate, If the Property Owner receives an exemption for paying Operating Millage Taxes Frain Miami -Dade County, the Property Owner shall contribute an amount equal to the Operating Millage Taxes to the City or South Miami in any year that such exemption is granted. This provision shall not abrdgare any of the Property Owner's rights to file appeals of. Tax Assessments for the Property, in accordance. with rho laws of Miami -Dade County. 4. work Force: In an effort to enhance job opportunities for local citizens, Applicant agrees to give a preference to job applicants residing in South Miami. In order to maximize the pool of applicants from South Miami, the Applicant shall send notice to the Community Redevelopment Agency Director of the City of South Miami, or a substitute designee by die City Manager, prior to Or concurrent with the issuance of any (1) bids for construction work on the Propetty, (2) bids for temporary or permanent tnsintenanec work on the Property, or (3) proposils for leasing of retail space on the Property. In regard to recruitment and employment, the Applicant shall demonstrate that it has used its best otl'ons to hire job applicants front the City of South Miami, provided such candidates art qualified for the positions in question, in addition, the Applicant shall hire two residents from the CRA district to assist the Applicant in providing construction services during the period or construction and development of the Property. Payment for the positions shall be at Applicants sole expense and shaft be commensurate with similar job levels and responsibilities in comparable industries. MIAMI 619310.13 7326021531 3 N29107 S. Site Plan. a. Applicant shall retain stomtwater drainage runoff on site in accordance with City regulations. V. • AppUcant shall provide on site sccuiity. As pan of on site security to be provided by the Applicant, the Applicant shall monitor and keep operable the security gate to the proposed' parking garage and make arrangements to assure emergency access by public safety vehicles. a The entrance at Levanto Ave. shall be signalized and approaches installed based on approval by Miami -Dade County and the State Of Florida Department of Transponadom d. The exit for the driveway onto SW 66 Street shall be desigood and operated as a right turn out only driveway. The exit shall be closed with a gate to prevent turn ont between the hours of 7:00 A.M. and 10:00 A.M., Monday through Friday. e. Applicant shall provide a minimum of one (1) stop location on site for service by the'HaryCaae shuttle. The shuttle stop locations shall not interfere with SW $71 Avenue traffic. All Hur yCane shuttle passenger pick -ups shall be coordinated with the city ofsouth Miami shuttle pick -ups to minimize traffic impacts. f. Applicant shall provide and maintain landscaping acceptable to the between trees with trunk' circumferences not less than 6 inches an the City's property between the FPL facility and the South Miami Cohimunity Center. The row of trees to be located an the Citys property between the FPL facility and the South Miami Community Center shall be uniform in appearance and consist of not Iess Than 2$ trees in the row. g. Applicant shall provide and maintain a six -foot high CBS wall between the project and the remaining service station. h. Employee parking shall be restricted to the garage and it shall be the developer's or his assigies responsibility to submit with each occupational license proof that employees are utilizing the assigned parking. i. Applicant shall provide a master signago plan for project identification, traffic, routing, and retail stores prior to final project approval by the Environmental Review and Preservation Board (BOB). j. Applicant snail limit on site lighting property edges'to 2 foot- oandiee of intensity at an IS inch height, Within six months of project completion the applicant is to provide a certified report on the mandated illumination level. k. Applicant is to assure that the refuse service areas shall be large enough to accommodate adequate dumpsters. The final number and dimensions of service MIAMI $19119.15 7326021531 4 3n907 areas shall be mandated by the Environmental Review and Preservation Board (ERPB) at final approval stage and adopted and incorporated as an exhibit to the Development Agreement prior to final approval of the Development Agreement. 1. All park,ug and street improvements placed on the public right -oPway on SW 51 Avenue by the Applicant shall be maintained with funds from a maintenance bond to be posted prior to permit issuance in accordance with rules of the Florida . Department of Transportation. proof of posting of the bond shalf'be provided to the City. m. Applicant must limit the types of retail establishments in order to assure that the required parking does not exceed the Initial retail parking allocation in the adopted mast or'site plan. Applicant to provide the City an initial parking plan for, retail stores and shall maintain the allocated number ofspaces for each occupant. n. Applicant shall instal, all sidewalks as shown on the adopted master site plan. o: Applicant shall open tip the paseo on the north side as shown on the amended site plan, as approved by the,Fianning Board, in alder to break up the long facade of the tesidential building, , p. Applicant and'the City shall agree on the number of locations of the loading zones prior to the final approval of the Development Agcemcat. no dimensions and locations or the loading zones $hall be attached as an ei hiblt to the Development Agreement. q, Applicant understands and • agrees that the City may eliminate the on -sm"t parking spaces located on SW 66 Street. r. Applicant shall provide 1,001 parking spaces [which may be. reduced in accordance with Condition #5q, requiring removal of on- street parking on SW 66 Street), tluough a combination of parking garage, a small surface lot, and on -sito street parking. s. The Applicant will commit to participate in a Joint working group with the First Methodist Church of South Miami and municipal, county and state agencies to devise 'a plan mutnatiy agreeable to Applicant and the First United Methodist Church of South Miami, for pedestrian improvemegts and beautification for Red Road. Applicant will contribute lthe cto nstmcci n�oost Of Methodist pedestrian hurch enhancements agreed upoa by App' orsouth Miami. Tlie Applicant will present plans for traffic permits indicating travel lanes of 10.5 feet on Red Road (SW 57 Avenue) and, if approved, will create an enhanced "landing zone" for pedestrians in the center of Red Road between the Property and the First United Methodist Church to the cast, subject to the approval of Miami -Dade County and the State of Florida Department ofTransportation: ' MIAMI 519310.!5 7336621531 3,29/07 . t. The Applicant shall not exceed it noise level equal to the ambient background level at 10:00 P.M. at a location adjacent'to the Property to be selected by the, Planning Director, said location may, change from time to time. U. The Applicant shall obtain approval from the City of a puking plan for construction workers prior to the issuance of a building permit. 6. Schools. In an effort to assist public schools located within the City, Applicant voiuntarily agrees to donate s34,g00 to the Miami -Dade •Coutity school Board ( "School Hoard '), to be specifically earmarked for capital Improvements at public schools located in the City. The Applicants donation shell be paid upon the issuance ora Certificate of Use and Occupancy for the rust residential unit on the Property. Decisions shall be made jointly by the City and School Board, and funds must be spent within two (2)-years of thedortatiom In the event that no capital improvements can be identified or agreed upon .for the expenditure of the funds within the two year period, the Applicants donation may be utilized to fund programs, purchase materials (such as 'additional computers) or in any manner that tbe.School Board and the City determines will enhance the curriculum and -the students' attending the subject school Is educational experience. Terms of the donation and student - generation analysis ate contained in the School impact Review Analysis dated November 16, •2004, attached to this Development Agreement and hereby incorporated by reference. 7. Unity of Title. Applicant shall submit a Unity of Title, pursuant to the requirements of Section 20.3.7(B)(1), City Code. NOW THEREFORE, the City, in consideration o£the premises, hereby agrees as- follows: g. Vesthi . As long as the development oo the Property is in compliance with this Development Agreement, and all applicable laws, ordinances, codes, and 'policies in existence at the time of the execution of the Development Agreement as well as other requirements imposed by the City Commission upon; the ratification of the rezoning in the site plan approval on the Property, the Property shall not.be the subject of a dowitzoning, application by the City and shall not besubjeet to any development moratorium, referenda action, ordinances, policies, or procedures enacted by the City that limits the development contemplated by this Agreement. and depicted in the Wow Plan. Any failure by this Agreement to address it particular permit, condition, term or restriction shall not relieve the Applicant of the-necessity, of complying with the taw governing said permitting requiremcnts, conditions, terms or restrictions. 9. lmos6tFi es. The Property shall not be subject to any new impacr fees imposed by the City after the adoption of the Resolution approving this Development Agreement. ML41Wt 819110.15 7124021531, 1/29 %07 10. � do rcurreacv mid Consistencv: The Application together with the Applicant's performance under the Development Agreement satisfies the coneummcy requirements, as delineated in Section 20 -4.1, City Code. By execution of this Agreement, the'City acknowledges that the application for site plan approval meets all concurrency regutations enumerated in Section 20.4.1 of the City Code,' and that the rezoning and site plan application and this Agreement are consistent I ith the City Comprehensive Plan and Land Development keplations. Additional Requirements: 11. iorlp Q' Agreement. The provisions ol° this Development Agreement shall become effective upon its recordation in the public records of Miami -Dade County, Florida, and shall continue in effect fora period of ten (10),years after the date of such recordation, after which it may be extended by mutual consent of all legbl and equitable, owners of the Property, and the City of South Miami upon approval at a public hearing. 12. Aanuai Report and Revterv, It shall be the responsibility of Applicant to submit an annual report to the City, sufficient tii fulfill the requirements as stated in the provisions of the Act, and Cadimmee'No. 11-05 -1833. This agreement shall be reviewed annually.on the anniversary of the effective date of this agreement. Applicant, or.its issign, shall submit an annual report at least 30 days prior to the annual review date. This report shall contain a secllon -by- section listing of what obligations have been mot and the data finalized, as good faith compliance with the terms of the agreement. The City Commission shelf review the annual report at a public meeting. if the City Comaiission fidds, on the basis of substantial competent evidence, that there has been a failure to comply with'the terms of the Development Agreement, the City shall provlde the Applicant with a fifteen (15) day,writton notice and opportunity to cure the non- comPliance. The Applicant shall have 45 days after the expiration of the 15-day notice period :to begin to cure the non- complimtce actor which the Agreement may revoked or modified by the City. The obligation to submit an annual repori shall conclude upon the date on which the agreement is terminated. 13. Modification. The provisions of this Development Agreement may be amended, added to, derogated, deleted, modified, or changed from time to time by recorded instrument executed by the then owners of the Property and the City. Any modifications to the Site Plan must comply with the regulations for amendment-to PO -M development contained in Chapter 20 of the City Land Development Code. 14, 4AforcamenE. The City, Its successor of assigns, and the Applicant, its successors and assigns, shall have the right to enforce the provisions of this Development Agreement. Enforcement shall be by action at law or in equity against any parties of persons violating or attempting to violate any covenants, either to restiain violation or to recover damages or both. The prevailing party, in the action or suit shall be' entitled to recover, in addition to costs and MIAMI 519310.13 7326021531 34;07 ' `. . disbursements 'allowed by law, such stun as the court may adjudge to be reasonable for the services of its attorney. Attorneys fees'payable under this paragraph shall not exceed 25% of thojudgmenG 15. JUpIctlo . Nothing in this Agreement shall be construed to waive or limit the City's governmental authority as a municipat corporation and political subdivision of the State of Florida. The Applicant, therefore understands and agrees that any official inspector of the City of South Miami, or its agents duly authorized, may have the privilege at any time during normal working hours of entering and investigating the use of fife promises to detetmitte:whether the Property complies with building and zoning regulations and the conditions herein. 16. AulhorIradon to WRhhoid- Permits and 'Inspections, by •the event the Applicant(s) istate obligated to make payments or improvements under the terms of this. Devclopmont Agreement and such payments are act made as requited, or such improvements are not made as required, in addition to any other remedies available, the City of South Miami is hereby authorized to withhold any further permits on the portion of the Property failing to comply,with this Development Agreement, and retlise to grant any inspections, any approvals, or any certificates of occupancy with regard to that portion of the Propgrty until such time this Devolopment Agreement is complied wish. 17. ttenresentatiom ofahe Applicant, Applioimt represents to the City as follows: They -- execution,• - ,delivery and„ performance of this Agreement and all other instruments and agreements executed in connection with this Agreement havo been properly authorizesd by the Applicant and do not require farther approval by Applicant. b. This Agreement has been properly executed, and continues Applicant's legal, valid and binding obligations, enforceable against Applicant in accordance with its terms, C. There are no actions, spits or proceedings pending or threatened against or affecting Applicant before any court or governmental agency that would in any material way affect Applicant's ability to perform this Agreement. d. Applicant shall not act in any wiy whatsoever, directly or indirectly, to cause this Agreement to be amended, modiried, canceled,or terminated, except pursuant to its express terms, and shall take all actions necessary to ensure that this Agreement shall remain in full force and effect at all times. e. Applicant has the finaxial capacity to pay or advance in the City all fees and payments as required under this Agreement. 18. Severability, It any provision of this Development rlgreenient or the application thereof to any person or circumstances is held invalid, .prohibited, or unenforoeable for any reason, this the Development Agreement shall be MIAMI $10310J073202031 349a1r ineffective only to such extent and the remaining provisions shall continue to be given NU force and eM-et so far as possible. 19. .Joint Pre garatla This Agreement has been drafted with the paWeipation of the City and Applicant, and their counsel, and shall be construed against the Applicant in issues of draft manship, The captions of each article, section and subsection contained in this Agreement are for we of reference only and shall not affect the interpretational meaning of this Agreement. Whensvcr the term "included" is used in this Agreement, it shall mean that the included items or terms art included without limitation as to any other items or terns which may fall within the listed category. 20. Bindina Effect.. _ The burdens of this Agreement shall be binding upon, and the benefits of this agreement shall inure to, all successors in interest to the parties of this Agreement. 21. C„ltatlons and 13end1nes._ . Paragraph headings are for convenience only and shall not be used to construe or interpret this Agreement. 22. Applicable Laws., Iurisdictloa and Venue. This Agreement shall be governed by and interpreted, construed, and enforced in accordance with the internal laws of Florida without regard to principles of conflicts of Jaw. This Agreement may be enforced as provided In Section 163.3243, Florida Statutes. Venue for any lidgst on pertaining to the subject matter hereof shall be exclusively in Miami - Dade County, Florida. 23, Yygtic s, Any notices or reports required by this Agreement shall be sent to the following: ,For the Cfb: City Manager City of South Miami 6130 Sunset Drive South Miami, Ft, 33143 Canv to Planning Director Flaming and Community Development Department City of south Miami 6130 Sunset Drive South Miami, Fl. 33143 MiAM1819310.1 a 7326021331 9 YN407 For the Applicant,, Irma Abella, Esq, General Counsel's Office University of Miami 1320 South Dixie'iiighway, Suite 150 Coral Gables, Fl. 33125 Copv to: Jerry B. Proctor, Esq. Bflafn Surnberg Bum Price & Axelrod LLP 200 So, Bisesync Boulevard, Suite 2500 Miami, Ft. 33131 ; 24. Walvem No failure or delay by Applicant or the City to insist upon the strict Performance of any covenant, agreement, tomi or condition of this Agreement, or to exercise any right or remedy consequent upon the breach thereof, shall constitute a waiver of any such breach or any subsequent breach ofsueh covenant, agreement, term or condition. No covenant, agreement, form, or condition of this Agreement and no breach themofshall be waived, altered or modified except by, written instrument. No waiver of any breach shall affect or alter tf is Agreement but each and every covemmi, agreemant, term and condition of this Agreement shall continue in full force and effect with respect to any other then existing or subsequent breach thereof. 25. Third Party Beneficiary. This Agreement is exclusively for the borefit of the ponies hereto and their Affiliates and it may riot be enforced by any party other. than the parties to this Agreement and shall- not give rise to liability to any third party other than the authorized successbrs and assigns of the parties hereto. 26. Survival. Any covenant, term or provision of this Agreement which, in order to be effective, most survive the termination of this.Agreement, shall survive any such termination including without limitation, paragraphs 2, 3 and 6 which shall survive this Agreement, 27. 4erlods of Time, Whenever any determination is to be trade or action is .to be taken on a date specified in this Agreement, if such date shall fail on a Senuday, Sunday or legal holiday, then in sych event said date shalt be extended to the next day which is not a Saturday, Sunday or legal holiday, 23. Entire AsreemenL This Agreement sots forth the cmire agreement between the Panics hereto with respect to the subject matter hereof. AU . agreements; covenants, representations, and warranties, oxlirass or implied, oral or written, of the parties with respect to the subject matter hereof arc contained herein. No other agreements, covenants, reprosontadons, or warranties, express or implied, oral or written have been made by any party to the other with respect to the subject matter of this Agreement. All prior and .contemporaneous conversations, MIAMI III4314.IS 7326421531 10 3nW07 .discussions, negotiations, possible and alleged agreements and representations,' covenants and watrmtties with respect to the subject matter he=& are waived,. merged herchr and superseded hereby. Each party affirmatively represents that no promises have been made to that party that are not contained in this Agreement, and the Exhibits, and stipulates that no evidence of any promises• not contained in this Agreement, and the Exhibits, sbau be admitted into evidence on its behalf. This Agreement shall not be suppiomonted, amended or modified by�aoy course of dealing, course of performance or uses of trade and may only be amended or modified by a written instrument duly executed by officers of both parties. 29. CounterpoMS. This Agreement may be executed (including by facalmile) in one or more counterparts, and by the different parties-hereto in separate counterparts, each of which when executed shall be deemed to be an original but oil of which taken together shall constitute one and the satire agreement.. 30. Iteaordation. tVithin 20 days after the Development Agreement has been signed by both the Applicant and the City, the Applicant shod. cause a copy .of the Development Agreement to be recorded at the Appllcoht's expense in the registry of deeds in Mtami•Dade County.' 31. 'Exhibits. All exhibits attached horeto contain additional terms of this Agreement and are incorporated heroin by reference. 32. tffeetiveness. This Development Agreement shall become eftbctive after the approval of the applications for rezoning and site plan approval and the expiration of any appeal periods. The approval of the applications for rezoning and site plan approval and of the application for approval of this. Development Agreement. shall not become effective until the Park donation is established and agreed upon by the Applicant and the City in accordance with Paragraph #2d. If the Park donation is not established in accordance with Paragraph #2d, the applications for rezoning, site plan appro4ai, and approvat of this Development Agreement shall be considered withdrawn without prejudice by the Applicant. IN WITNESS fYHEREOF, these presents have been executed this cOZ9*'' day of Mar 4i 2007. MIAMI S11010.1S M602M I l l 7130411 pCKNQ IRDGMENT AND ACCFPTANCF BY CITY OF SO= MIAMI KYOWALL MENBYTTHESE PRESENTS that: The City of South Miami acknowledges and accepts the forogoing Development Agreement and each and all of the terms and provisions contained. therein, dated and attached hereto. DATED this If day of Udezf,—Ag , 2007. CITY OF SOUTH NiMGfi $y: Yvonne S a ler- McKinley. City Manager , GC I T: Mona M. Menendez (f STATE OF_�?� } )SS' COUNTY OP 2 -�6xer - ) e lbrogoin instrument was acknowledged before me thisAE day or / ci 2007 by $ a er or the City of South Miami and attested to by IjAds M. Monenciez City Clerk, of ft City of South Miami who are ( ) personally known to me or ( ) produced a valid driver's license as identification. My Commission Expires: 3 —/6- Dan MAW 7326021531 3W107 Notary Pabit Maria M. Menendez Sign Name:' != Print Name: #t, t, t t- Menendez Serial No. (None, ifDlar4 (NOTARIAL SEAL) i� rdA MWOMAE1Vt?NQ i'^- au�a6arow# ooanam aarnnrn:ua,n tdaze :av�KrmP. A.NVM�AKh1(gyJ4fi8. IN WITNESS WHE EOF, the undersigned party has agreed to this Development Agreement dated as of the day of yy ayyE 2007.. RRC 57m Avenue, LLC, a Florida' limited liability otmnpany By: University of Miami, a Florida non -profit j���/ /"j.ccorporation, its s e m inner G"'y; ame; Joseph soli ' Tibet $cnior Ice President for Business' and Finance STATE OF FLORIDA ). ) SS: COUNTY OF MIAMI•DADk) The foregoing iastroment was acknowledged before me thliz day o 2007, byJoscph T. Natoli, as Senior Vice President for Bvsjmss and Finance, of the iversity of Mismi, a Florida non profit corporation, the Sole Member of RRC V' Avenue, LI C, a Florida limited liability company. W. is oeersonall known toms or has produced a State of driver's license as idendficatiom Sign Name: Print Name: Any Commission Expires: 0 L Serial No. (noac, if blank): MIAA11819310.15 x386021331 j S 312a107 i [NOTARY SEAL] ROSARYPUDUC•Sj=oPP 0A10A � -,, Melody M. Smith nio ' y iimadaf'Db%980 «��,,r Pspirel: 0a 10, 1. 60aamrlalaAn ppaaWa t0, atC i a .. F.Xt3Sf31T "Aa Legal Dcscslpdoa All of Tract 1, of the IWJMD•PLAT OP PERNWOOD, according to ft Plat tlFrcof as ieowded "IdBook 35, at Pap 72, Of the FtbAO Recotda ofMiami -Dade Coun% plotida "= 1 'ft South 475.657 feet of the iVrdst 100 fcek and less also to Baal 150•feat af1126 Souilr 330,bat, and less also file Soot 125 toot of tb6 West 175 feet oftba Past 325 foet, and less' sdao the East 75 feet of the V opt 175 foot of the Sondt 225 feetof sell Thot lit Baft 75 Seet,of too West 175 fast of to 32'5;k inOFl Book of R aRBt. Puag6 72 T OF FERNWOOD, according to So Plat twao � . the Public Records ofMim33 Dodq Countyc 101ida. Tho No. - Tira NozOn 132 feet of the BE % of the. NE'/+ of the SE �' / +' of Section 2.5, Township 59 South, Range 40 Fast less tho Norto 2S feat of tbo North 132 feet of tho S$' /+ of the NS' /' oftb6 SE' /: Of Secdon 25, TowuWT 54 South, Range 40 East .1'oa of'0n4 SE %. of the NE•3!, of 936 SE %+ of Seaifaa2S, Townaoip 59' South, Runge A0 East, . desoa'badasfollmvsi ' ' .• • Eogln at aw*SE aroma of meld SE' /. of ih6 NE V cf tha.83 '/.; tl36occ nla West a1o33g ttae 6auth t fine of said SE' /. of th6 NE %. oft4o SE A for a distan of Ig5 foot ft a Pont of Beginning; i { f y 150 real; thonoc lull West parallel to the Scud 1 6 of geld SE,' /t of the NE V4 of tb0 SE'/ fora distanea of 100 fast; thence ran parallol4b the Bast line of said SE Y4 ofthe NB'3/, of the SB'A for a distance of 150 feet to the South line of said 61 V4 of the m S'/, of the SS V4 thanes rot Bud along said South line offm BE l+ of the NE' /. of the B13 wfor.a distandc of 100 feat to the Point' ofBegiunnng,lams the scum 45 fed for publicroadpbrposea .: Tlio .Tbo N r . Nosh' 180 f6at of to South 330 foot of One East 250,feot o£7.ltadt 1, ofR$'GISkO PLAT OP PERNWOOD, docardiag.to tba Ptatths=4 w raccrded•In• plat Book 3S, at Page 72,'of to PubHo Recozds ofl�dieapi Dads CouMq, Plorlda. . A pordon of Ttadt 1, "ViSED PLAT OF FERNWOOD, according to fhc Plat thdioog as %corded in Plat Book 3$, at'Page 72, of1he Public Reeor&.of Miami -Dada County, Plozida, Mora particularly 4eoc3rw as follow: . That part of the 'Southeast Quarter of file Nor03eamt Qoatter,of the Southeast Qi3antar of Be on 25, Towb&p 54 Soudb Ungs 40 Bast, dosraibed as follower. Begin at to Souuloamt 4omcz of aid Southeast Qnarns of Naithoast Quarter of Southeast 1diAhrr121939.1t33142e7r3 ���(�.V " 1. ORSSKi"2!5476 PG 0051 AGE QuIutw, thence gm West along the 064 ilna of soil Bouthaast Qwxw of Nartheeat°QMft Of Southeast Quests!• fora dieteas of 2 95 fW for PONT OF 8 Soo t59 feaq' palatlattoEastlivaofsaidBDU& stQaal ofNor&twQmuur ofNdzfluast•Qllartf o£ tholog Tan, West pm-461 to South 1516 of said Souiboast Qmrtet Sov&ew Qaazter 75 &a5 ihcnoe ruu OenHL pazallel to iha Beat lino of add southeast Qasrtes of . Nortiwd Quarter of 04nt&wt Quorm. M foot to the •South lino of sate southeast Qpxtvr of Noliheaai Quarior of Southeast Qtlamr thanao seat along sedd Sdnth UM of the Soutleeaat Quaxto o£Nolthaeai Qusrnc' of Sou9leasi Qoartor for a distance of 75 feet to the POWs OF g,lrttliNp, SdS3 the South25 feat fixptibtla road 1 kf1AMt 725a9T9.17S92626731 f A102 2 baftom 1 A212 1 Bed.. 1 8103 2 bedroom 1 8105 26edmem I 8110 1BOdmom I 8126 2bedmom t 8302 2b.dmom 1 0403 2bedmom 1 8104 2 boomom 1 8414 2 Dvtl.om i MID 2betlmom 1 8624 26edmam 1 8525 1H.dmom I Dill 26a@wm 1 0206 2bedroam I 0300 I boamom 1 W07 3betlm.m 1 0310 1Badm.. 1 0405 IS.".. 1 CAC® 3b.dmom 1 ......0502 3 beam.... 1 _.. 0600 i Bedroom.. 1 0104 18admam 1 D100 2badrw. 1 0209 2 bedmom 1 D308 2betlmam 1 0902 2 W... I 008 1 befto. i 5221 1 bedroom i 8300 2 b.d..n 1 U28 1 maraom 1 F203 1 baaraam I I= 18.dmom 1 F402 IWdeMm 1 L"302 Isod.om t 8222 2bad.om 1 8;09 2bad.am 1 0204 1Bedro.m i mil I Bedr.cm I Red Ran Commons Iineedeh2l }WUe7ry CompeeeCe FywAJanueryT041 dosYegreMl Lk4 ber3d me Ld 5 5 s 3 S L S on the %of Y S Y S Y S Y S Y 3 Y 3 Y 5 Y 5 Y 5 Y ; Y S Y 5 Y S Y S Y L Y i Y S Y i Y 3 Y 3 Y ; Y Y $ Y S Y s Y b Y 1 Y S Y s Y E Y S Y S Y S Y 3 Y ; Y s Y $ Y 5 Y S Y E mlvml General Nofea• HI DD D<finlflon "Dmpk udU faro.. b.twem 80 and l20 pefeent oFUe AaB ara madmala income.° a Smte gflhc XaustngCourueling lnJustty, U5Depwtmenl ojXmrr/nggM UldM➢Dcvdapmem, Office ofPary DevdopmeN gndRermrch ,2008Repon(SOptember2008) a hap:/ Awnv. BUdus. r. org /Publiaetions/PgPfns�wmsol.Pdf DevelaameM Aememnni MR NedlOn femme (AIRS ee dafinaa by the U.S. ofUe I*Ie ig yam W Ue CBy N.ne08r.