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2bSouth Miami 11II-AmericaCi1v CITY OF SOUTH MIAMI 1 IIR OFFICE OF THE CITY MANAGER INTER - OFFICE MEMORANDUM 2001 To: The Honorable Mayor Stoddard and Memb s of t ity Commission Via: Roger M. Carlton, Acting City Manager Laurence Feingold, City Attorney From: Thomas J. Vageline, Director : Planning and Zoning Departmen Date: April 6, 2010 REVISED REPORT ITEM NO. Subject: Annual Affordable Housing Compliance Report required by the Red Road Commons Development Agreement (Sec. 2f), submitted by Jerry Proctor, Esq. representing project developer, RRC 57t1' Avenue, LLC. 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 pursuant to Florida Statutes 163.3220- 163.3243. AFFORDABLE HOUSING COMPLIANCE REPORT 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. In 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 14, 2010 and is attached. VERIFICATION OF UNITS At the suggestion of the City's Affordable Housing Committee the City Commission requested the developer to verify that the affordable units were occupied by eligible households. At the March 2, 2010 City Commission meeting the developer felt that the rental documents including income tax forms could not be turned over to the City but that he would welcome examination of the files in the leasing office by City personnel. The submitted list of the units occupied by affordable housing households was verified by Planning and Zoning Department staff (Tom Vageline, Director, and Sanford Youkilis, Consultant) at the Red Road Commons leasing office on March 23, 2010. 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. UPDATED REPORT The required affordable housing annual report is in the form of an updated two page letter from the developer's attorney Jerry Proctor, Esq. and a one page summary chart. The updated total after the 2 March 23, 2010 verification session indicated that 35 units of the 314 units (10% +) rented to date are households within the income range determined to be within the income levels defined as affordable housing for this project. The attached updated 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. ADMINISTRATION RECOMMENDATION The report meets the compliance requirement of the Development Agreement. The developer has been advised that the affordable housing commitment of five more units (based upon 10% of the 404 units) must be met before the development is completely rented. The developer has agreed to this and will report actual percentages with documentation in a subsequent annual Affordable Housing Report. The additional information on this summary chart of monthly rents will assist the City in determining future objectives for affordable housing. At this time no formal action by the City Commission is required. Attachments: Updated letterfrom.1. Proctor3 -29 -10 Annual Report Submission 1 -14 -10 Red Road Commons Development Agreement TJV /SAY XAComm Items\2010 \4 -6 -10 \RED Rd Common Housing 2010 Report.doc H Red Road Common AH.rdabfe HO t1y Compllanoe Repot- Amg2010 for Ywrendida Decambar 91. 2009: V seen vnl lYpu m a .,, wase 1. 1 Ann.".. `, fn[Olne a2 ; In"an"Ines"m- s: "He' oesa I R.Poss Gms3 Cetlf fba ExpIrske, Holder income . pereenla0e A2ooa AMlbased on the :�' Pale ' 1 Inwme to- ' Data Date '..shouldnop '.` HUD AMI IOf Mlaml ') 60% 1.+ 20 %of - Rent P.,.t - l ascend Dade county del Moderate lncomo :1 E6o,9" .1$50,000. by HUD ar,defned by DUD ; M FObmaly 2000. ':I YIN ',. ..... ..: Should net _... expaetl 120'/• AIDO Af01 A102 N00 A2o9 .11 A212 A9o1 8600 8112 'I. 24 85524 8 '16 '106 .9 0609 0402 was Et0 E200 6 E21s E221 EE21 E40d Eat) E425 E420 E02 E2% OSti Fast F4 o2 84. 0409 F304 aeneml We WO—VA's-him t bedroom z.a,.om Bodereln bedroom bedroom .dmom l bedroom ,,notoom bedroom 2.dreom z bedroom +bedroom 2 bedroom 1w. ar bedroom l b dmom 2.dmom 1 bedroom l b om I bedad room orders Mders be l dr'oo. m 2 W I Intense edroom 1 bedrwm l betltoom l d m . ledN ne 1 led m I boom admone l bad one bar om 2d 2 room l bv dream 1165 .DD 65.00 172 an S ),P20o S Lsne.00 ),440.00 S 1.186.00 Y Y Y Y Y Y S Y $ Y $ Y E Y $ Y $ Y E Y $ Y Y Y $ Y $ Y $ Y E Y • 'people wnh incomesW—e 80 and t20 pawn oohs AM) are moderate income' o Slokofibe Noosing Colmselingbdus lry,USDeMo enrofH.zlsmgmrd Urbon Deve.kpmenl,OmeelPolicy DevefopmerinndReaenr.A, 2008 Repon(Soplember 2008) o Mip:// wwtehuduxccoryl 'vbii<alionx/PDP4rsy c..I.pdf 0.Vrbr.ment A.memnnl 2}. HDUaing'Arequlmmanl Olen percent Hoa) of the eAHN tta mnl to Iedlvkoah m UneVeS M Has mndemle lncomo So9menl of the affordable hWSle,group. It be msldenllal units -..d;a arndominWm ;ten "Nord (10 %) of the unlls wl9 be Sob to indivbord, or families N the mMaralo Irrcwne Segment of the alleal.We honest, 9., In ... fyeln0 eomplianeew d lIble pem9mpR @e City Shall.lbw babundeviatlons leselln9 from sbod term vdwWda.lnone. shall W based on Arta Median Imcme (AMI) as darned Who HS. Depaamenl of Housing and Urban Development. Proof of compliable wllM1 Oer ,,Di rHYet. an ...0 bass, s hall . provided in wfiOn, on or before Jerry 15 of the fore ing ye a, to the Clly M .... ee Bilzin Su mberg ATT; Pd N-YL> �x Jerry B. Proctor, Esq. Tel 305.350.2361 Fax 305.351.2250 jproctor @bilzin,com March 29, 2010 Via Hand Delivery Mr. Roger Carlton Acting 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 Mr. Carlton: 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 57`" 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 $50,800, as determined by U.S. Housing and Urban Development in March 2009. (AM] 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 $40,640 per year and $60,900 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 gg6�ppx~� MIAMI 2035502.3 7743027649 1"IHIi 3 Q 2.l 4,` 3/29/10 ;la BILZIN SUMBERG BAENA PRICE & AXELROD LLP � T�a'{�'1ilV^!6`�VG r 1°lu'v' " 200 S. Biscayne Boulevard, Suite 2500, Miami, FL 33131 -5340 To! 305.374.7580 Ftix 305.374.7593 CUM Mr. Roger Carlton City of South Miami March 29, 2010 Page 2 Agreement. At this writing, 314 units in "Red Road Commons" are rented out; accordingly, the attached list of units and incomes complies with the 10% requirement. 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, Je . Proctor c: Thomas Vageline, City of South Miami (w /encl.) Laurence Feingold, Esq, City Attorney (w /encl.) PJ Jourdin (w /encl.) Jay Jacobson (w /encl.) MIAMI 2035502.3 7743027649 3/29/!0 . BILZIN SUMBERG BAENA PRICE & AXELROD LLP B&jn Sumberg ATTORNEYS AT LAW JAN 14 2010 Via Hand Delivery Mr. Roger Carlton Acting City Manager City of South Miami _- ""613D-SunseYDrive'-_ South Miami, FL 33143 Jerry S. Proctor, Esq. Tel 305.350.2361 Fax 305.351.2250 jproctor @biixin.com January 11, 2010 Re: "Red Road Commons: Property: 6600 -6640 SW 57 Avenue and 5757 SW 68 Street, South Miami, FL Housing Report Dear Mr. Carlton: 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_enciosed, 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 $50,800, as determined by U.S. Housing and Urban Development in March 2009. (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 $40,640 per year and $60,900 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 MIAMI 2035502.2 7743027649 1/11/10 BILZIN SUMBERG BAENA PRICE & AXELROD LLP 200 81 Biscayne Boulevard, Suite 2500, Miami, FL 33131 -5340 Tel 305.374.7580 Fax 305.374.7593 www.bft.in com Mr. Roger Carlton City of South Miami January 11, 2010 Page 2 Agreement. At this writing, 315 units in "Red Road Commons" are rented out; accordingly, the attached list of units and incomes complies with the 10% requirement. 1 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 c: Thomas Vageiine, City of South Miami PJ Jourdin (w /encl.) Jay Jacobson (w /encl.) MM Mi 2035502.2 7743027649 1 /11 /I0 BILZ.IN SUMBERG BAENA PRICE & AXELROD LLP This instrument prepared under ttre supervision: and when recorded retuna to: Jerry B. Proctor, Esq. Bilznt Swvberg Daena Price & Axelrod LLP 200 South Biscayne Boulevard Suite 2500 Mianu, Florida 33131 -2336 DEVELOPMENT AGREEMENT CFM 2007RO328886 OR Bk 2546 Pss 0052 - 72e (2lossi RECORDED 03/30/2007 15/02331 HARVEY RUVIHf CLERK OF COURT MIAMI -DADS COUHTYt FLORIDA (Space Reserved for Clerk) This Development Agreement is made as of this al_11�-- day ofAAaYC41, 2007, by and between The City of South. Miami, Florida, a municipal corporation ( "City ") and RRC 57`f Avenue, LLC ( "Applicant "), Applicant hereby voluntarily makes, declares, and imposes on the property described below, this agreement running with the title to the land, which shall be binding on and shall inure to the benefit of the Applicant, successors and assigns, mortgagees, lessees, and against all, persons claiming by, through, or under them until such time as this Development Agreement ( "Development Agreement") is released in writing as hereinafter provided; TMERF. -15, Applicant opens Cite property in the City, in Miami -.Dade County, Florida, legally described on Exhibit "A ", also known as 6600 -6640 S.W. 57 Avenue and 5757 SW 68 Street (the "Property "), and J,V11TRF,4S, on July 22, 2004 Applicant filed an application with the City to rezone the Property from TODD (MU-4) (Transit Oriented Development District) to PUD -M (Planned Unit Development -Mixed Use), and to obtain site plan approval (the "Application "), and TTHER6aS, the Florida Local Government Development Agreement Act, set forth in sections 163.3220 - 163.3243, Florida Statutes, (the "Act ") provides for the execution of development agreements to insure that the law in effect at the time of the execution of the development agreement shall govern the development of the land for the duration of the agreement. NOUi TFIk:REFORF_, in consideration of the covenants, conditions, and promises herein contained, the receipt and sufficiency of which are expressly acknowledged, Applicant and the City hereby agree as follows: MI.A \MI 519310.15 7326021531 3129107 E),MIBIT "A" 1. Permitted Uses Densities and Intensities. Pursuant to the provisions of Chapter 20, Land Development Regulations of the City of South Miami, the Property will be improved with the following: a. 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. C. Development on the Property shall not exceed five (5) stories above grade, in height. d. Development of the Property shall be in accordance with the adopted master site plan on file at the City, including elevations, architectural features, and estimated commercial square footage 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- 33(i), Expirations of PUD Approvals. 2. Public Facilities: In order to enhance public facilities in the City of South Miami, Applicant agrees to provide services in compliance with Section 204.1 of the Code of the City of South Miami, including: a. Water and Sewer services that comply with all requirements of Miami -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 for any building prior to issuance of a final Certificate of Use and Occupancy. C. Drainage services that comply with all requirements of the Florida Building Code prior to the occupancy of any- 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 concurrency. Payment shall be made on or before receipt of the first building permit and shall include any interest or carrying cost incurred by the City until receipt of the payment. Interest calculations are indicated on attached Exhibit "B ", incorporated herein by reference. e. Traffic - Applicant will obtain necessary governmental approvals, and cause to have placed and operational a separate left -turn, northbound entrance lane on Red Road (SW 57 Avenue) into the northernmost proposed driveway on Red Road on the Property, prior to the occupancy of any buildings on the Property. In addition, Applicant will present plans within two (2) years after the recording of this MLkK 819310.15 7326021531 3/29!07 P Development Agreement to governmental authorities, including the Florida Department of Transportation, for beautification of the median area to consist of curb and gutter improvements and landscaping in the center of Red Road (SW 57 Avenue). directly south of the intersection of Red Road and Ponce de Leon Boulevard. Subject to approval of necessary permits by governmental authorities, Applicant will pay for and construct the beautification improvements. Housing — A requirement of ten percent (I 00A) of the units will rent to individuals or families in the moderate income segment of the affordable housing group. If the residential units convert to condominiums, ten percent (10 %) of the units will be sold to individuals or families in the moderate income segment of the 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 (AMI), as defined by the U.S. Department of Housing turd Urban Development. Proof of Compliance with this requirement on an annual basis shall be provided in writing on or before January 15 of the following year to the City Manager. In addition, the Applicant shall make a payment of $100,000 to the City on or before the issuance of the first 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. Taxes: Applicant agrees to pay all takes to the City of South Miami in an amount equal to the annual Operating Millage Rate. if the Property Owner receives an exemption for paying Operating Millage Taxes from Miami -Dade County, the Property Owner shall contribute an amount equal to the Operating Millage Taxes to the City of South Miami in any year that such exemption is granted. This provision shall not abrogate any of the Property Owner's rights to file appeals of Tax Assessments for the Property, in accordance with the laws of Miami -Dade County. 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 the City Manager, prior to or concurrent with the issuance of any (1) ,bids for construction work on the Property, (2) bids for temporary or permanent maintenance work on the Property, or (3) proposals for leasing of retail space on the Property. In regard to recruitment and employment, the Applicant shall demonstrate that it has used its best efforts to hire job applicants from the City of South Miami, provided such candidates are qualified for the positions in question. In addition, the Applicant shall hire two resident's from the CRA district to assist the Applicant in providing construction services during the period of construction and development of the Property. Payment for the positions shall be at Applicant's sole expense and shall be commensurate with similar job levels and responsibilities in comparable industries. MIAMI S 19310.15 7326021531 3 3/29/07 5. Site Plan. a. Applicant shall retain stormwater drainage runoff on site in accordance with City reaulations. ti: Applicant shall provide on site security. As part 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. c. The entrance at Levante Ave. shall be signalized and approaches installed based on approval by Miami -Dade County and the State of Florida Department of Transportation. d. The exit for the driveway onto SW 66 Street shall be designed and operated as a right turn out only driveway. The exit shall be closed with a gate to prevent turn out 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 HurryCane shuttle. The shuttle stop locations shall not interfere with SW 57"i Avenue traffic. All HurryCane shuttle passenger pick -ups shall be coordinated with the City of South Miami shuttle pick -ups to minimize traffic impacts. f. Applicant shall provide and maintain landscaping acceptable to the City between the FPL facility and the garage. The applicant must provide a row of 12' high trees with trunk circumferences not less than 6 inches on the City's property between the FPL facility and the South Miami Cotnnunity Center. The row of trees to be located on the City's property between the FPL facility and the South Miami Conununity Center shall be uniform in appearance and consist of not less than 25 trees in the row, .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 assign's responsibility to submit with each occupational license proof that employees are utilizing the assigned parking. i. Applicant shall provide a master signage plan for project identification, traffic, routing, and retail stores prior to final project approval by the Environmental Review and Preservation Board (ERPB). j. Applicant shall limit on site lighting property edges to 2 foot - candles of intensity at an 18 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 M IAIV118193,10.15 7326021531 4 312WOi 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. I. All parking and street improvements placed on the public right -of=way on SW 57 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 shall be provided to the City. nt. 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 master site plan. Applicant to provide the City an initial parking plan for retail stores and shall maintain the allocated number of spaces for each occupant. n. Applicant shall install all sidewalks as shown on the adopted master site plan. o: Applicant shall open up the paseo oil the north side as shown on the amended site plan, as approved by the Planning Board, in order to break up the long facade of the' residential 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 Agreement. The dimensions and locations of the loading zones shall be attached as an exhibit to the Development Agreement. q. Applicant understands and agrees that the City may eliminate the on- street 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], through a combination of parking garage, a small surface lot, and on -site 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 mutually agreeable to Applicant and the First United Methodist Church of South Miami, for pedestrian improvements and beautification for Red Road. Applicant will contribute the construction cost of specific pedestrian enhancements agreed upon by Applicant and the First United Methodist Church of South Miami. The Applicant will present plans for traffic pen-nits 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 east, subject to the approval of Miami -Dade County and the State of Florida Department of Transportation. iM I AM 1 S 193, I O. I i 7726031531 129e(17 t. The Applicant shall not exceed a 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 parking plan for construction workers prior to the issuance of a building permit. 6. Schools. h1 an effort to assist public schools located within the City, Applicant voluntarily agrees to donate $34,900 to the Miami -Dade County School Board ( "School Board "), to be specifically earmarked for capital improvements at public schools located in the City. The Applicant's donation shall be paid upon the issuance of a Certificate of Use and Occupancy for the first 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 the donation. 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 Applicant's donation may be utilized to fund programs, purchase materials (such as 'additional computers) or in any manner that the School Board and the City detenni,nes will enhance the curriculum and the students' attending the subject schools educational experience. Terms of the donation and student generation analysis are contained in the School hnpact Review Analysis dated November 16, 2004, attached to this Development Agreeient 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 of the premises, hereby agrees as follows: S. Vestina. As long as the development on 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 or the site plan approval on the Property, the Property shall not be the subject of a downzoning application by the City and shall not be subject 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 Master Plan. Any failure by this Agreement to address a particular permit, condition, term or restriction shall not relieve the Applicant of the necessity of complying with the law governing said permitting requirements, conditions, terms or restrictions. 9. Impact Fees, The Property shall not be subject to any new impact fees imposed by the City after the adoption of the Resolution approving this Development Agreement. MIAM1 519310.15 73260' 1531 3!29/07 10. C_oncurrencv and Consistency. The Application together with the Applicant's performance under the Development Agreement satisfies the concurreney 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 regulations enumerated in Section 20 -4.1 of the City Code, and that the rezoning and site plan application and this Agreement are consistent with the City Comprehensive Plan and Land Development Regulations. Additional Requirements: 11. Term of Agreement. The provisions of this Development Agreement shall become effective upon its recordation in the public records of Miami -Dade County, Florida, and shall continue in effect for a period of ten (10) years after the date of such recordation, after which it may be extended by mutual consent of all legal and equitable owners of the Property, and tine City of South Miami upon approval at a public hearing. 12. Annual Report and Review. It shall be the responsibility of Applicant to submit an annual report to the City sufficient to fulfill the requirements as stated in the provisions of the Act, and Ordinance No. i t -05 -1833. This agreement shall be reviewed annually, oil the anniversary of the effective date of this agreement. Applicant, or its assign, shall submit an annual report at least 30 days prior to the annual review date. This report shall contain a section -by- section listing of what oblieations have been met and the date finalized, as good faith compliance with the terms of the agreement. The City Commission shall review the annual report at a public meeting. If the City Commission finds, 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 provide the Applicant with a fifteen (15) day written 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 - compliance, after which the Agreement may be revoked or modified by the City. The obligation to submit an annual report shall conclude upon the date on which the agreement is terminated. 13. Nlodification. The provisions of this Development Agreement maybe 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 PUD -M development contained in Chapter 20 of the City Land Development Code. 14. Enforcement, The City, its successor or 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 or persons violating or attempting to violate any covenants, either to restrain 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 519310.15 7326021531 N29/(j7 disbursements allowed by law, such sum as the court may adjudge to be reasonable for the services of its attorney. Attorney's fees payable under this paragraph shall not exceed 25% of the judgment. 15. Inspectio.n. Nothing in this Agreement shall be construed to waive or limit the City's governmental authority as a municipal 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 the premises to determine whether the Property complies with building and zoning regulations and the conditions herein. 16. Authorization to Withhold-Permits and Inspections. In'the event the Applicant(s) is /are obligated to make payments or improvements under the terms of this Development Agreement and such payments are not made as required, 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 pemuits on the portion of the Property failing to comply,with this Development Agreement, and refuse to grant any inspections, any approvals, or any certificates of occupancy with regard to that portion of the Property until such time this Development Agreement is complied with. 17. Representations of the Applicant. Applicant represents to the City as follows: a. The execution, delivery and perfonnance of this Agreement and all other instruments and agreements executed in connection with this Agreement have been properly authorized by the Applicant and do not require further approval by Applicant. b. This Agreement has been properly executed, and constitutes Applicant's legal, valid and binding obligations, enforceable against Applicant in accordance with its torms. C. There are no actions, suits 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 way whatsoever, directly or indirectly, to cause this Agreement to be amended, modified, canceled.or terminated, except pursuant to its express terns, 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 financial capacity to pay or advance in the City all fees and payments as required under this Agreement. 18. Severability. If any provision of this Development Agreement or the application thereof to any person or circumstances is held invalid, prohibited, or unenforceable for any reason, this the Development Agreement shall be M IANt1 SII3I0.!i'3 ?fie ?iii! 31;9 %U7 ineffective only to such extent and the remaining provisions shall continue to be given full force and effect so far as possible. 19. ,Joint Preparation. This Agreement has been drafted with the participation of the City and Applicant, and their counsel, and shall be construed against the Applicant in issues of draftsmanship. The captions of each article, section and subsection contained in this Agreement are for ease of reference only and shall not affect the interpretational meaning of this Agreement. Whenever the terns "included" is used in this Agreement, it shall mean that the included items or terms are included without limitation as to any other items or terms which may fall within the listed category. 20. Binding 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. Captions and Headings. Paragraph headings are for convenience only and shall not be used to construe or interpret this Agreement. 21 Applicable Laws Jurisdiction. and Venue. This Agreement shall be governed by and interpreted, construed, and enforced in accordance with the internal taws of Florida without regard to principles of conflicts of law. This Agreement may be enforced as provided in Section 163.3243, Florida Statutes. Venue for any litigation pertaining to the subject matter hereof shall be exclusively in Miami - Dade County, Florida. Notices. Any notices or reports required by this Agreement shall be sent to the following: For the City: City Manager City of South Miami 6130 Sunset Drive South Miami, Fl, 33143 Copt/ to: Planning Director Planning and Community Development Department City of South Miami 6130 Sunset Drive South Miami, Ft. 33143 _ MIAMI 819310.15 7326021531 9 3;29;07 For the Applicant: Irma Abella, Esq. General Counsel's Office University of Miami 1320 South Dixie Highway, Suite 150 Coral Gables, Fl. 33125 COPY to: Jerry B. Proctor, Esq. Bilzin Sumberg Baena Price & Axelrod LLP 200 So. Biscayne Boulevard, Suite 2500 Miami, FI. 33131 24. Waivers. No failure or delay by Applicant or the City to insist upon the strict performance of any covenant, agreement, term 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 of such covenant, agreement, term or condition. No covenant, agreement, term, or condition of this Agreement and no breach thereof shall be waived, altered or modified except by written instrument. No waiver of any breach shall affect or alter this Agreement, but each and every covenant, agreement, 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 benefit of the parties hereto and their Affiliates and it may not 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 successors and assigns of the parties hereto. 26. Survival. Any covenant, term or provision of this Agreement which, in order to be effective, must survive the tennination of this Agreement, shall survive anv such tennination including without limitation, paragraphs 2, 3 and 6 which shall survive this Agreement. 27. Periods of "rime. Whenever any determination is to be made or action is to be taken on a date specified in this Agreement, if such date shall fall on a Saturday, Sunday or legal holiday, then in such event said date shall be extended to the next day which is not a Saturday, Sunday or legal holiday. 28. Entire Agreement. This Agreement sets forth the entire agreement between the parties hereto with respect to the subject matter hereof. All agreements, covenants, representations, and warranties, express or implied, oral or written, of the parties with respect to the subject matter hereof are contained herein. No other agreements, covenants, representations, or warranties, express or irnplied, 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 819310.15 7326021531 10 3/29107 discussions, negotiations, possible and alleged agreements and representations, covenants and warranties with respect to the subject matter hereof, are waived, merged herein 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, shall be admitted into evidence on its behalf, This Agreement shall not be supplemented, amended or modified by any 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, Counterparts. This Agreement may be executed (including by facsimile) 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 all of which taken together shall constitute one and the satire agreement. 30. Recordation. Within 20 days after the Development Agreement has been signed by both the Applicant and the City, the Applicant shall. cause a copy of the Development Agreement to be recorded at the Applicant's expense in the registry of deeds in Miami -Dade County. 31. Exhibits. All exhibits attached hereto contain additional terms of this .Agreement and are incorporated herein by reference. 32. Effectiveness, This Development Agreement shall become effective 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 approval, and approval of this Development Agreement shall be considered withdrawn without prejudice by the Applicant. ZN WITHESS IYHEREOF, these presents have been executed this c;t day of 1�l0,MAI _,2007. .VuAM IS I93K).15 7326021511 11 129W ACKNOWLEDGMENT AND ACCEPTANCE BY CITY OF SOUTH MIAMI KNO PY ALL MIEN BY .THESE PRESENTS that: The City of South Miami acknowledges and accepts the foregoing Development Agreement and each and all of the terms and provisions contained therein, . dated and attached hereto. DATED this ') a - a I day of �, 2007. CITY OF SOUTH IVIIAN11 By: _nl Yvom7e S ter- McKin]ey City Manager F A.T,T.EST: ``GLTYCLERK Maria M. Menendez STATE A ) SS COUNTY O'f ) The foregoing instrument was acknowledged before me this day of 2007 by C,,74y/ e "i'e of the City of South Miami and attested to by Mana_M. Menendez City Clerk, of (he City of South Miami who are ( ) personally known to me or ( ) produced a valid driver's license as identification. My Commission Expires: v1a0 M IAi41 i, i 7326021531 3.'28/07 Notary Publi Maria M. Menendez c,^ —:_�_ Sign Name: Print Name: �--1 Maria M. Menendez Serial No. (None, i.fblank): (NOTARL,kL SEAL) $�'� �'°k tvtARIA.M. Mc'iJENt7E2 :,s mrcotaMlssroNU ooe�is ;s ur n� exP!kas: n +n�, ta, xus 18T.vas:) +.,'}'v F: M^tcw:4cc¢rt �c:r,w 1 _. 1N WITNESS WHEREOF, the undersigned party has agreed to this Development Agreement dated as of the,22Tday of J!A _Y f%_, 2007. ITRI M RRC 57" Avenue, LLC, a Florida limited liability company By: University of Miami, a Florida non - profit corporation, its s e member Y; .- u9 ame: Joseph atoli Title: Seniors ice President for Business and Finance STATE OF FLORIDA ), ) SS: COUNTY OF MIAMI -DADE) The foregoing instrument was acknowledged before me thi3✓1 day o 2007, by Joseph T. Natoli, as Senior Vice President for Business and Finance, of the iversity of Miami, a Florida non -profit corporation, the Sole Member of RRC 57'h Avenue, LLC, a Florida limited liability company. Hg/She is personally known to me or has produced a State of driver's license as identification. Sign Name: / Print Name: My Commission Expires: Oi Serial No. (none, if blank): tNOTARY SEAL] NOTARY puBUCSTATE OF FLORIDA Melody M. Smith Commjssioz # DD589811 `. ' Fapires: Oa, 10, 2010 BOtiDFD'rNxe',,,,NTiC BONDING CO., INC. MIAMI 819310.15 7326021531 13 728!07 i MMMIT "Alt Legal Description Parcel 1: All of Tract 1, of the REVISED PLAT OF FERNWOOD, according to' the Plat thereof, as recorded in Plat Book 35, at Page 72, of the Public Records of Miami -Dade County; Florida, less 'the South 475.657 feet of the West 100 feet, and less also the East 150 feet of the'South 330 feet and less also the South 125 feet of the West 175 feet of the East 325 feet, and less also the East 75 feet of the West 175 feet of the $oath 125 feet. of said Tract. Parcel 2: " The East 75 feet.of the West 175 feet of the South 125 feet of Tract •1, of REVISED PLAT OF FE,I*C)OD, according to the flat thereof, as recorded in Plat Book 35, at Page 72, of the Public Records ofMiami-Dade County; Florida. Parcel 3: a i The North 132 feet of the SE %4 Of the NE %4 Of the SE '/4 of Section 25, Township 54 Soixih, Range 40 East, less the North 25 feet of the North 132 feet of the SE Y44 of the NE '% of the SE '/, of Section 25, Township 54 South, Range 40 East. 7 Parcel 4: That part ofthe SB %4 of the NE ' %4 o£thd SE %4 of Section 25, Township 54 South, Range 40 East, described as follows: Begin at the'SE corner of said SE %4 of the NE' /4 of the SE '/4; thence run West along the South line of said SE '/+ of the NE '/4. of the SE V4 for a distance of 185 feet for a Point of Beginning; thence rnn North parallel to. the Fast line of said SE '14 of the NE 1/4 of 'the SE 1/4 for a distance or 150 'feet; thence ran West parallel to the South' line of said SE '/4 of the NE'/ of the SE 1/4 fora distance of 100 feet; thence run parallel -to the East line of said SE 114 of the NB 1/4 of the SE'/ for a distance of 150 feet to the South line of said BE %4 Of the NE i/4 of the SE '/4; thence run East along said South line of the SE Y4. of the NE '/4 of the SE 114 fora distan6e of 100, feet to the Point of Beginning, less the South 25 feet for public road purposes.. 'Parcel 5: The North' 180 feet of the South 330 feet of the East 150.feei of tract 1, of REVISED PLAT OF FERNWOOD, according to the Plat thereof, as recorded in Plat Book 35, at Page 72, of the Public Records of Maori -Dade County, Florida. Parcel 6: A .portion of Tract 1, REVISED PLAT OF FERNWOOD, according to the Plat Thereof, as recorded in Plat Book 35, at Page 72, ofthe Public Records.. of Miatni -Dade County, Florida, more particularly described as follow: That part of the'Southeast Quarter of the Northeast Quarter, of the Southeast Quarter of Section 25, Township 54 South, Range 40 East, described as follows: Begin at the Southeast corner of'said Southeast Quarter ofNoitheast Quarter of Southeast 0 M3t.N.71256979.1733242673.1 OR BK aZ4V6 PG OOZI LAST PAGPE Quarter; thence run West along the South lire of said Southeast Quarter of Northeast• Qu' r of Southeast Quarter for a distance of 285 feet for POINT OF BEGINNING; thence run North parallel to East line of said Southeast Quarter of Northeast Quarter of Southeast Quarter 150 feet;' thence ron West parallel to South line of said Southeast Quarter of Northeast Quarter of Soufheast Quarter 75 feet; thence run South parallel to the East line of said Southeast Quarter of Northeast Quarter of Southeast Quarter 150 feet to the South line of said Southeast Quarter of 1 Northeast Quarter of Southeast Quarter; thence East along said South line of the Southeast Quarter of Northeast Quarter of Southeast Quartet for a distance of 75 feet to the POINT OF BEGINNING, LESS the South 25 feet for public road. j i i