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2South Miami OftericaWy CITY OF SOUTH MIAMI 1 OFFICE OF THE CITY MANAGER m INTER - OFFICE MEMORANDUM 2001 To: Hector Mirabile, Ph.D., City Manager (for inclusion in City Manager's report From: Thomas J. Vageline, Director Planning and Zoning Department Date: February 1, 2011 Subject: Annual Affordable Housing Report (2011).-Red Road Commons 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. 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 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: Letter from J Proetorl -11 -11 (Annual Report) Red Road Commons Development Agreement TJV /SAY X: \Comm Items\201 1\2-1-1 1 \RED Rd Housing 2011 Report To CM.doc Bilzin Sumberg ATTORNEYS AT LAW Jerry B. Proctor, Esq. Tel 305.350.2361 Fax 305.351.2250 jproctor @bilzin.com Via Hand Delivery LCRYMA 1 3 2010 Dr, Hector Mirabile City Manager A 'GER°S C 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 571h 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 1/12/11 BILZIN SUMBERG BAENA PRICE & AXELROD LLP 1450 Brickell Avenue, Suite 2300, Miami, FL 33131 -3456 Tel 305.374.7580 Fax 305.374.7593 www.bilzin.com 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, V Jerry . Proctor c: Thomas Vageline, City of South Miami (w /encl.) Laurence Feingold, Esq, City Attorney (w /encl.) Jim Kelly (w /encl.) Diego Sanchez (w /encl.) MIAMI 2397208.1 7743027649 1/12/11 BILZIN SUMBERG BAENA PRICE & AXELROD LLP Red Road Commons Agordable Housing Compliance ReportJanuary2011 far Yam-ends, Deonnin,11 2010 Apanmen( Unit type Innul Cerflicet on Data .tease `Expellon <l Date ': Hnn tease Holder income -Should not exceetl $62,640 loco nacre percentage of2010 S HUD AMI for Miami 'Dade County }:set at $62,200 by HUD in February 2010- Should not exceed 120% ynrwo- AM1 based on the' -80 %to 120 %of ?. Moderate income. as aimed by HUD Y/N ry Rate nuv r,v Income tot Rent Payment A102 2bedroom 5130/2009 1/31/2011 $ 55,368.00 106% Y 5 1,234.00 27% A212 1 Bedroom 6/15/2009 6114/2011 S 45,551,00 8]% Y $ 1,295.00 34% B103 2betlroom 8/1512009 4114/2011 3 60,188.00 115% Y $ 1,575.00 31% B108 2betlroom 6912010 61 &2011 3 31.200.00 60% Y $ 1,663.00 64% I Bt 19 1Batlroom 8,27 12009 1/31/2011 $ 30,090.00 56% Y $ 1,032.00 41% 1 8126 2bedroom 5/2912009 5129/2011 S 45,427.00 87% Y S 1,664.00 44% 1 8307 2bedroom 9/24/2009 4/30/2011 $ 33,840.00 65% y $ 757,50 27% i B403 2betlroom W25 /2010 2114/2011 $ 50,681.00 97% Y S 1,48400 35% I 8404 2betlroom 1/9/2010 1/31/2011 $ 49,338.00 95% Y S 1,46200 36% i B414 2bedroom 9/25/2009 413012011 $ 41,016.00 79% Y $ $40.00 25% I 8419 2 bedroom 211112010 2110/2011 $ 53,460.00 102% Y S 1,686.00 38% i 8524 2 bedroom 712512009 712412011 $ 62,200.00 119% Y $ 1,730,00 33% i 8525 1 Bedroom 7110/2009 4120011 $ 44,71300 86% Y $ 11295,00 35% i C11i 2betlroom 4/2412010 412312011 $ 35,360,00 66% Y $ 1,321.00 45% I 0205 2betlroom 121311200 12/3012011 $ 44,328.00 86% Y $ 11158,00 31% i C306 tbedroom 1/13/2010 8/12/2011 S 48,000.00 92% Y $ 1,240.00 31% I 0307 3bedroom W2212010 W2112011 S 53,460.00 102% Y $ 2.66000 60% I C310 1 Badroom 111012010 11912012 S 53,260.00 102% Y $ 1,275.00 29% f C405 1 Bedroom 112512010 112412014 S 42,000.00 80% Y $ 1,272.00 36% i 0406 3bedroom 12/18/2009 12/1712011 S 55,368,00 106% Y $ 1,27200 28% I 0507 3batlmom 3/22/2010 3121/2011 $ 53,460.00 102% Y $ 2,684.00 60% f C506 1 Bedroom 4IV2010 41112011 S 53,460.00 102% Y $ 1,660.00 37% 1 D104 1 Bedroom 71212(10 71112011 S 57,840100 ill% Y $ 1,293.00 27% 1 D106 2bedroom W2612009 6125/2011 S 41,274.00 79% Y $ 1,564.00 45% 1 0209 2 bedroom 6192009 61182011 $ 48,682.00 93% Y $ 1,215.00 30% 1 D309 2betlroom 7/1012009 7/912011 $ 50,400.00 97% Y $ 1,298.00 31% f 0402 2bedroom 7/212009 7/112011 s 51325.00 99% Y $ 11605.00 37% i E208 tbedroom 81712009 61202011 s 5040000 97% Y $ 1,320.00 31% 1 E221 tbedroom 6/112009 7/3112011 $ 49,097.24 94% Y $ 1,287.00 31% t E309 2betlroom 2/1512010 41302011 $ 40,668.00 78% Y S 823.00 24% I E428 I bedroom 6120/2009 6,19/2011 $ 60,000.00 115% Y $ 1,366.00 27% i F102 tbedroom 411/2010 4112011 $ $3,460.00 102% Y $ 1,293,00 29% 1 F203 I bedroom 111212009 11/112011 $ 5%820.00 115% Y S 1,305.00 26% 1 F303 1 Bedroom 101231200 1011512011 $ 33,695.00 66% Y S 1,258.00 45% 1 F402 1 bedroom 10/3012009 711512011 $ 59,767,00 114A Y 3 1,48300 30% 1 F302 1 Bedroom 10/251201 512412011 $ 41,600,00 80% Y $ 1,540.00 44% 1 8222 2 betlroom 8/2212010 U2112011 $ 60000.00 115% Y s 1,805.00 36% 1 B309 2 bedroom 6/112010 713112011 $ 55,000.00 105% Y S 2,030,00 44% t C204 1 Bedroom 4/1512010 4/14/2011 S 46,44000 69% Y $ 1,293,00 33% 1 A211 1 Bedroom 6/]2010 6/1112011 $ 56,180,55 106% Y $ 1,300.00 28% WDIV /01 General Notes: afro DiRmlign • "people with incomes between 80and 120 percent ofthe AND are moderate income" • Stan, ofoW 11ru mg Cmms,1mg lndulry, USDepartmcnl of /dousing and Urban Developmcnl, Office afPollay Denelapnrsm and Research , 2008 Report (September 2008) • http;// www. huduserorg /Publications/PDF4isg_counsel,pdf Development Agreement 2f. Housing-A requirement of ten percent (10 %) of the units v411 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 Win this paragraph, the City shall show minor deviations resulting from short term vacancies. Incomes shall be basal on Nee Median Income (AMI) as coined by the U.S. Deparlmenl of Housing and Urban Development. Pmofof compliance with this requirement on an annual basis shall be provided In wailing on or before January 15 of the following year to the City Manager. ! Dill! �$11�3�1 Iq!! #11�181�1 #lUi tll! 1��1.. CFP11 200 7 RO326886 OR Bk 25%96 Pss W52 : 721 t21pest REtBROE0 03/38/2087 15102,31 HARVEY CCR F WRT I B� Tnis instrument prepared tattler the supervision: and when recorded retain to: 'Jerry B. Proctor, Esq. Bil,du Sumbcrg Boons Price & Axelrod LLF zoo South Biscayne Boulevard suite 2500 Mianu, Florida 33131 -2336 DEVELOPMENT AGREEMENT (Space Reserved for Clerk) This Development Agreement is made as of this 99t day ofMAYfd't, 2007, by and between The City of South 'Miami, Florida, a municipal corporation ( "City ") and RRC 571h 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 shalt inure to the benefit of the Applicant, successors and assigns, mortgagees, lessees, and against all, persons claiming by, through, or tinder them until such time as this Development Agreement ( "Development Agreement ") is'released in writing as hereinafter provided; W7dERBA,S, Applicant owns the pr6p6tty in the City, in Miami -Dade County, Florida, legally described oil Exhibit "A ", also known as 6600 -6640 S.W. 57 Avenue and 5757 SW 68 Street (the "pr6perly "), and WldF-RE.43, on July 22, 2004 Applicant filed an application with the City to rezone the Property from TODD (MU -4) ('Transit Oriented Development District) to P1fD -M (Planned Unif Development -Mixed Use), and to obtain site plan approval (the "Applicaition "), and 13rHFRGA,T 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 or the execution of the development agreement shall govern the development of the land for the duration of the agreement. NOFV, THEREFORE,, in consideration of the covenants; conditions, and promises herein contained, the receipt and sufficiency or which are expressly acknowledged, Applicant and the City hereby agree as follows: M10-11 81931 o.15 7326021331 31291b7 EMIBIT " A" 1. Permitted Uses Densities and )gtensities Pursuant to the provisions of Chapter 20, Land Development Regulations of the City of South Miami, the Property will be improved with the fuilowing: 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 203.7(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 20-4.1 of the Code of the City bf 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 -Dada 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 cancunency. 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. a. 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 MIAMI 619310.15 7326021531 329!07 f 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 die intersection of Red Road and Ponce de Leon Boulevard. Subject to approval of necessary permits by goverrmental authorities, Applicant will pay for and construct the beautification improvements. f. Housing — A requirement of ten percent (10 %) 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 die 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 (Aivtn, as defined by the U.S. Department of Housing mid 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 X100,000 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 fluid to assist in the development of low income housing in the City's Community Redevelopment Agency area. 3. Taxes: Applicant agrees to pay all taxes 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 appoals of. Tax Assessments for the .Property, in accordance with the laws of Miami -Dade County. 4, Nyork 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 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 offorts 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 residents from the CRA district to assist the Applicant In providing construction services during the period of construction and development of tho 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, is 19310.15 7.126021 53 1 3 3/29107 5. Site Plan. a. Applicant shall retain stormwater drainage runoff on site in accordance with City regulations. urity. As part of on site security to be provided b♦ Applicant shall provide on site sec by the Applicant, the Applicant shalt 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 Levame 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 far the driveway onto SW 66 Street shall be desigtted and operated as a right sum out only driveway. The exit shall be closed with a gate to prevent turn oiu 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 Avenue traffic. All Bo ryCone 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 Citys property between the FPL facility and the South Miami Cohimunity Center. The row of trees to be located oil the City's property between the FPL facility and the South Miami Cormnunity Center shall be uniform in appearance and consist of not less than 25 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 assign's responsibility to submit with each occupational license proof that employees are utilizing the assigned parking. i. Applicant shall provide a I master signage plats 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 - candies of intensity at an 18 inch height. Fvithin 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 81931(. 15 732W21531 4 329�Oi , 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 -ot -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. 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 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 shalt open up the paseo on 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 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 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 al 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 Applicaut 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 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 Properly and the First United Methodist Church to the cast, subject to the approval of lviianti -Dade Calmly and the State of Florida Department ofTransportatiotl, MIAMI $19310.15 7326011531 )M/07 I. 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. In an effort to assist public schools located within the City, Applicant voluntarily agrees to donate $34,800 to the Miami- Dade'Courity 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 determines will enhance the curriculum and the students' attending the subject school's educational experience. Terms of the donation and student generation analysis are contained in the School impact Review Analysis dated November 16,,2004, attached to this Development Agreenent 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 TFIF,REFORE, the City, in consideration of the premises, hereby agrees as follows: 8. Vesting. 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. Imp net 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. MIAMI 519310.15 7326021531 3129+07 10. CCo tcu rencv and Consismgcy. The Application together with the Applicant's performance under the Development Agreement satisfies the concurrency 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 204.1 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, form of A reement, 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 the City of South Miami upon approval at a public hearing. 12. Annual Renort and Review, it shall be the responsibility of Applicant to submit an annual report to the C1ty sutiicient to fulfill the requirements as stated in the provisions of the Act, and Ordinance No. 11-05- 1833. This agreement shall be reviewed annually, on the anniversary of the effective date of this agreement. Applicant, or.its assign, shalt submit an annual import at least 30 days prior to the annual review date. This report shall contain a section -by- section listing of what obligations 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 I5 -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 tenninated. 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 tine 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 WAM 1 81)310,13 7326e2 W I 3l2WO disbursements allowed by law, such sum as the eourf may adjudge to be reasonable for the services of its attorney. Attorney's fees'payable tinder this paragraph shall not exceed 25% of the judgment. 15, inspection. Nothing in this Agreement shall be construed to waive or limit the City's govemmentat 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, Autborizatiolt 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 permits on the portion of the Property failing to comply.with this Development Agreement, and reftise 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 performance 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 terms. c. There are no actions, suits or procced'utgs 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. Appliear t 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 us,requi.red under this Agreement. 18. Severabilitv. It 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 MIAMI S19310.15 732602153 t v29n>7 ineffective only to such extent and the remaining provisions shall continue to be given full force and effect so far as possible. 19. Joint Preparatigg. 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 i iterpretational meaning of NJ; Agreement. Whenever the term "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. Cautions and Headings. Paragraph headings are for convenience only and shall not be used to construe or interpret this Agreement. 22, Applicable Laws Jurisdiction, and Venua, 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 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. 23. Notices. Any notices or reports required by this Agreement shall be sent to the following: For the Cl City Manager City of South Miami 6130 Sunset.D'rive South Miami, Fl, 33143 Cony to: Planning Director Planning and Community Development Department City of South Miami 6130 Sunset Drive South Miami, Ft. 33143 M JAM IS t')310.15 7326021531 9 . Y29107 v . 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, Fl. 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 arty 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 than 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 shalt not give rise to liability to any third party other than the authorized successors and assigns of the patties hereto. 26. Survival. Any covenant, term or provision of this Agreement which, in order to be effective, must 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. Periods of Time. Whenever any determination is to be made or action is .to be taken on a date specified in this Agreen=4 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 implied, oral of 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 819310.1573261121331 10 3/29110 a:5 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 byany 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 same agreement.. 30. Recordation. Within 20 days oiler 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. trreetiveness, 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 rozoning and site plan approval and of the application Cur 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. IH W1THEV 4i'HF_REOr, these presents have been executed this e2g day of GtY'ri1'l 2007, MIAMI $14310.157}260215)1 11 3r14rOn ACKNOWLEDGMENT AND ACCEPTANCE BY CITY OF SOUTH MIAMI aroW AL MEN 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. DATEDthis day of �li #. .2007. CITY OF SOUTH MIA 8y: Yvonne S ler- McKinley City Manager Z � , ST CLERK Maria M. Menendez STATE OF--�,. _ ) SS' COUNTY OF,%/i../�dr� ) e foregoing instnnnant was acknowledged before me thiseA 4 day of 2%�cfit 2007 by n e �trtl? r s of the City of Somb Miami and attested to by Menendez City Clerk, of e City of South Miami who are ( ) personally known to me or ( ) produced a valid driver's license as identification. Maria M. Menendez r� Notary PubiicF�. Sign Name: Print Name: —�= .r484�AM Menendez My Commission Expires: Serial No. (None, if blank): [NOTARIAL SEAL) SAM MARIA M, M�NENDEZ Tor no'y7 x�axPfMEsB Whig am ,A>sJgPlN. l�r+nrvaeu+,rovu Cq MIAMI 7326021531 3r28l07 N WITNESS WH& EOF, the undersigned party has agreed to this Development Agreement dated as of theme: day of jM CvVin _, 2007. W sses: �n Print Name: :rrro(x Print Nam e: � � 41 STATE OF FLORIDA ), RRC 57 .. Avenue, LLC, a Florida limited liability company By: University of Miami, a Florida non -profit corporation, its s e mimber Y; �l lame: Joseph toli Title; Senior ice President for Business and Finance ) SS: COUNTY OF MIAMI•DADE) The foregoing instrument was acknowledged before me thig6t day o 2007, by Joseph T. Natoli, as Senior Vice President for Business and Finance, of Aheiverrsity of Miami, a Florida non -profit corporation, the Sole Member of RRC 57'" Avenue, LLC, a Florida limited liability company. JWShe is personally known to me or has produced a State of driver's license as identiflcation. My Commission Expires: MtANN 819310.15 7326021571 13 WHIM 1 •��rirn��a,�cr:.� [NOTARY SEAL] NOTARY PUBUC -STATB OF FL010h Melody M.,Sridth r Commissioa #DD582010 .- Faplr6s: OCT 10 201Q eonom ntaa A11h't1C eowGVO CO., w4C Legal Desc#ptlon azc All of Treat 1, of the REVISED, PLAT OF FERNWOOD, acoording to tbo Plat tb4rcof, as recorded in ?Jai Book 35, at Page 72, of the Public Records of Miaml -Dade County, Florida, less the South 475.657 feet of the West 100 feat, and less also the East 150.feut of the 'South 330 filet, t end less also the South 125 feet of the Walt 175 feet of tho East 325 feet, and less also the Last 1 75 feet of the West 175 feet of the South 125 feetof said Tract. . The East 75 feet.of t13 West 17S fget of ilrra , South 125 feet 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 Miami -Dade Countytnorida., I rth 132 feet of the SE %a of the. NE % of the SE 7/,• of Section 25, Township 54 SgI4, Ibe of the NE' /. of the SL Range 40 East, loss the North 25 foot of the North 132 feat of the S$' /+ ' /. ' of Section 25, Township 54 South, Range 40 Hest. ThPaz t paar'•t oflhe SB % of the NB,Y4 o£tbd SE' /4 of Section 2'S. Township S4 South Range b0 Bast, described as follows:' Begin at the'SE comer of said SE % oftbd NE' /4 of the SB %4; thc*Oa run West along "'a South 1 line of said SE '/ o£ the NB '/, of the SB'14 fora distance of 185 feet fox a Pdiut of Beginning; t thence run North parallel to, the Fast lino of said SE'% of the NE y4 oftbe SE %, foi a.distance pf i 150'feet; thence nn West parallel to the South' line of said SE.% of the NB'/ of the S$' /4 for, s distance of 100 feat; thence run parallel to the Bast line of said' SE% of the NE'' /n of the SE 'A for a distanra of 150 feet to the South lint cf said S$' /4 of the NE V4 of the SE 'h; thou**` run East along said South line of the SE 4/i of the NE % of the SB%'for,& dislanda of 100 feet to the Point' _ I of Beginning, less the South 25 feet for public road pUrposes. . arce3 5: The North' 180 feet of South 330 feet of the East 150,feot 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 warm Dade County, Florida. pamal6 A,.portion of Tract 1, REVISED PLAT OF FBRNW,OOD, according to the Plat th �of 1 recorded in Plat Book 35, at'Page 72, of the Public Records of Miami-Doe County, more particularly described as follows: That part of the'Southeast Quarter of the Nortbea# Quartcr, of the Southeast Quarter of Section 25, Township 54 South, Range 40 East, described as folloRs Begin at the Southeast Gomez of'said Southeast Quarter of NQitheast Quarter of Southeast M, 1.4$712'8979.17332474731 tr OR SK 25476 PG 0051 LAST PACPE . Quarter thence Sun West along the South tine of said Southeast Quarter of Northeast Quarter of "Southeast Quarter fora distanoe of 285 foot for POINT' OF B>rC3S 4M' G-- thauee nni North parallel to East line Of aid SoutheastQuarter.ofNorheast Quartsrof3outbeast Quarter 150 feet; iharcD = WQst parallel to South Lino of said Southeast Qumtar of Northeast Quartm of Southeast Quarter 75 feet; thonoe run Sou@ parallel to the East lino of said Southeast Quarter of .Northeast Quarter of Southeast Quarter 150 feet to the • South tine of said Southeast Quarter of Northeast Quarter of Southeast Quarter, thence East along said South lino of the Southeast Quarter of N&teast Quarter of 96utbeast Quarter for a diotance of 75 feet to the POIM OF BBOD*MGt, LBSS the 96uth25 feet forptiblic road. ,I I MIAMC 7258979.17392426731