Res. No. 052-99-10676RESOLUTION NO. 52-99-10676
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF SOUTH MIAMI, FLORIDA, RELATING TO
REDEVELOPMENT, AUTHORIZING THE
COMMENCEMENT OF NEGOTIATIONS WITH THE
COMRAS COMPANY AND SIMON PROPERTY GROUP
REGARDING A PROPOSAL IN RESPONSE TO RFP &Q 98-
10-01 FOR REDEVELOPMENT OF CITY PROPERTY
LOCATED AT 58TH AVENUE AND 7IST STREET.
WHEREAS, the Mayor and Commission and the Community Redevelopment
Agency (CRA) Board authorized the issuance of a request for proposals and
qualifications for redevelopment of city property located at 58'h Avenue and 71"
Street; and,
WHEREAS, the proposal submitted by The Comras Company and Simon
Properties Group in response to RFP &Q was found by the CRA Consultant to meet
the threshold qualifications; and
WHEREAS, the CRA Board voted unanimously to forward the
recommendation to the City Commission for approval.
NOW THEREFORE BE IT RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA:
Section 1. That the CRA and City begin negotiations with the Comras
Company and Simon Properties Group on the proposal submitted in response to
SMCRA RFP &Q 98- 10 -01, and report on the status of the negotiations within 90
days.
Section 2. This resolution shall take effect immediately upon approval.
March
PASSED AND ADOPTED this 2 day of 11999.
ATTEST: APPROVED:��..
Z 4�jt42-z
CITY CLERK 61 MAYOR
READ AND APPROVED AS TO FORM COMMISSION VOTE: 5-0
Mayor Robaina: Yea
�1 Vice Mayor Oliveros: Yea
Commissioner Feliu: Yea
CITY ATTORNEY Commissioner Bethel: Yea
Commissioner Russell: Yea
CITY OF SOUTH MIAMI
® INTER- OFFICE MEMORANDUM
To: Mayor and Commission Date: February 24, 1999
�(:�"' Agenda Item # I ` / C1
From: Charles Scurr Subject: Comm. Mtg. 03/02/99
City Manager SMCRA RFP &Q 98 -10-01
The attached resolution approves the commencement of negotiations with The Contras
Company and Simon Properties Group with regard to their proposed redevelopment project.
The South Miami Community Redevelopment Agency received approval from the Board and
from the Mayor and Commission to issue a Request for Proposals and Qualifications for
redevelopment of the city property located at 58h Avenue and 71" Street. This property is
currently utilized as a surface parking lot with approximately 44 parking spaces and meters.
Three potential developers attended the required pre - proposal conference. One developer
submitted a proposal. The proposal has been reviewed by Don DeLaney, the CRA Consultant
to determine whether the proposal met threshold qualifications. He recommended to the CRA
Board on February 19, that the proposal meets those requirements, and that the City and CRA
should move forward with negotiations. The CRA Board unanimously approved that
recommendation.
The next required action is for the City Commission to approve the attached resolution
authorizing the CRA and City to move forward and begin negotiations with the proposed
redevelopers. The CRA Board asked for a status report on the negotiations within 90 days.
I recommend approval.
Park Pace 5agso
SOUTH MIAMI, FLORIDA
Response To
RFP &Q NO. 98 -10 -01
Submitted To
THE SOUTH iMIAM1 COMMUNITY REDEVELOPMENT AGENCY
JANUARY 15, 1999
ST NAnNT ,wv. ri- -
SINION
rR0rFR7Y c ,oL r
January 15. 1999
Ms. Diana Morris. CRA Director
City of South Miami
6130 Sunset Drive
South Miami. FL 33I43
Dear Ms. Morris:
Re: South Miami COmmurury Redeveiopment Agency
RFP & Q No. 98 -10 -01 — City Surface Parking Lot — S W 58
Ave.,SW 71" ST
Proposers Letter of Transmittal — Park Place at Sunset
On behalf of the Simon Property Group "SPG ") and The Comras Company
( "TCC "), I am pleased to transmit our proposai oursuant to the South Miami Communitv
Redevelopment Agency's ( "SMCRA ") Request for Proposals and Qualifications. RFP &Q
No. 98- 10 -01, released on November 17, 1998 for the Redevelopment of a City Owned
Surface Parking Lot at SW 58 Avenue and SW 71" Street in the City of south Miami.
On November 30, 1998, we advised the SMCRA of our intent to file this
proposal. and requested a determination by the SMCRA whether the meet the Threshold
Qualifications set forth in Section 10 the Reauesr for Proposals and Ouahficarion issued
by the SMCR A. In addition. as a representatite of SPG. I attended the Pre - Proposai
Conference accompanied b% `lichaei Contras of the Contras Company conducted by the
SMCRA on December 3. 1998.
As I noted in my correspondence of November 30. 1998. SPG is a partner in
Bakery Associates. Ltd.. a Florida limited partnership. Bakery Associates. Ltd. is
developing the Shops at Sunset Place iocated immediately across S.W. 58'h Avenue from
the surface parking facility which is the size offered by the SMCRA. It is the intent of
SPG that if its proposai is selected by SMCRA. we «iil form entity to develop the subject
site as weil as certain adioining properties under our control as The Annex to the Shops at
Sunset Place.
Accordingly, SPG is pleased to submit :his proposal. along with 10 copies
thereof. to the SMCRA in response to its Request for Proposals & Qualifications. RFP &Q
No. 98- 10 -01, and hereby requests the favorable consideration and selection of its
proposal by the SMCRA.
In support thereof. in addition to this Letter of Transmittal. which is Section A.
of the proposal. I have also included as part of our proposai, the following:
B. A Letter of Intent from Key Bank expressing its interest in providing the
financing for our proposed deveiopment the Annex on the subject site and
adjoining parcels. Key Bank is the construction lender for the Shops at Sunset
Place. As such. Key Bank is familiar with Simon Property Group and lending
on maior construction projects within the Citv of South Miami.
C. A cashier's check in the amount of 510.000.00 payable to the SMCRA as its
deposit to serve as a review bond.
D. A description of our specific program to purchase the subject site from the
SMCRA. including our offering price and purchase time table, and identifying
required development incentives and timetables..
E. An identification of the timing and conditions associated with any requested
incentives. . n identification of those adjoining parcels to the subject site
under our control.
F. A preliminary Master Plan for our proposal. Upon selection. we conduct
appropriate design studies to provide a design concept that will, through
architectural. design and landscaping features enhance and improve the
downtown.
G. A preliminary "schematic design' for the narking deck.
H. A narrative description of the redevelopment approach of this proposal.
I. A schedule of the development of the proposed project.
J. A cost estimated for the proposed project.
K. A description of the proposer's team and the qualifications of the team.
L. A description of the additional and unique resources, capabilities and assets
which we brine to this proposal.
M. Financial Statements.
N. An executed .acknowledgment Letter in the form specified by Section l7 of
the RFP &Q.
While j believe that the information contained in this Proposal represents a full
and compiete response to the RFP &Q, SPG wiii be pieased to provide such additional
information as the SMCRA may require for its review of this proposal.
Sincerely,
S NPROPERTY GROUP
I]�
Thomas J. Schneider
Senior Vice President - Deveiopment
B) BANK LETTER OF INTENT
Please find enclosed a Letter of Intent from Kev Bank N-A, dated December 8,
1998, expressing its interest in providing the financing for the proposed development
which is the subject of this Proposal on the subject site being offered by the South Miami
Cotnmtmity Redevelopment Agency pursuant to RFP &Q No. 98- 10 -01. Key Bank is the
construction lender for the Shops" Sunset Place being developed by an affiliate of
Simon Property Group- Bakery Associates, Ltd.- a Florida limited partnership and
located across S.W. 58 Avenue from the subject site. As construction lender for the
Shops at Sunset Place, Key Bank is familiar with the environs in South Miami.
In addition to the enclosed Letter of Intent from Key Bank. Simon Property
Grout), Inc. has 33.341.159.0001 in Shareholder Equity and unsecured credit facilities cf
sufficient canaciry to finance the proposed deveiopment of the site being offered by the
SMCRA and adjoining parcels under our controi2.
See Page 7 —Form t0 -Q /A for the Quarter Ending 9,130/98 in Exhibit M -1
t See Adjoining Properties described in Section E
December 8, 1998
Diana Morns, CRA Director
South Miami Community Redevelopment Agencv
City Manager's Office
6130 Sunset Drive
South Miami, Florida 33143
Re: RFP &O No. 98 -10-01
Dear Ms. Morns:
KeyBank
127 Public Square
Cleveland. OH 44114 -13C
KevBank National Association ( "KevBankl has an extensive commercial banking relationship
with Simon Property Group ( "SPG'7. KeyBank - as agent bank for a syndicate of additional
lenders, is providing financing for The Shoos at Sunset Place, a 510,000 square foot retail complex
located at the confluence of Dixie Highway (US 1), Red Road. and Sunset Drive m South Miami,
Florida. The borrrnver for The Shops at Sunset Place is an affiHate of SPG.
We understand tbat SPG is contemniatuig the construction and development of a parking facility,
with associated retail shopping space (the "Projecr�, to be located on Dixie Highway across SW
58d' Avenue from The Shops at Sunset Place.
Based on our experience and track record with SPG, Nve would expect that SPG would be able to
obtain sufficient construction finaacmg at cormnerciailv reasonable terms to finance a real estate
project of the magnitude contemniated asp n+; ,o of course. teat the Project tviil be economically
feasible.
Please be advised that this letter does not represent a commitment to lend an the part of KevBank.
We would welcome the opportunity to discuss providing the construction financing_ of the
aforementioned Project with SPG at the appropnate tune.
Sincerely,
Daniel R. Heberle
Vice President
KeyBank N.A.
Real Estate Banking
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D) PROJECT PROGRAM
The Proposer intends to integrate the existing surface parking lot with is the subject of
RPP&Q No. 98 -10 -01 into a larger mixed -use development. Under this Proposal, the Proposer
will purchase a fee simple interest in the offered parcel for a nominal amount of $10.00, and, in
addition to that payment. will also make certain in -kind contributions:
En into a 1 25 metered parking paces on the tground level and to receive he revenues from these
parking meters:
2. Reconstruct SW 71" Street. and construct the 25 public metered spaces on the ground
level: and
for maintenance foe the portion of SW 71" Street under its air
3. Assume responsibility
rights development.
The Proposer will reconstruct SW 71" Street. and construct the 25 public metered spaces
on the ground level and will also develop the air rights above the subject parcel. It will place
certain ramps. foundations. and vertical transportation elements on the surface to serve the
development in the air rights. Under a license agreement. the City will continue to receive the
revenues from the parking meters at ground level, and the City and SMCRA will receive
substantial tax and other revenues from the development of the air rights and will also receive the
property taxes associated with placing the land underiving the parcel back on the property tax
rolls. As a whole. the City, SMCRA and downtown will benefit from:
1. The continued presence of metered Public parking;
2. 500 new structured parking spaces:
influences fronting on Dixie Highway, SW 71" Street and SW
3. The removal of blighting in
58'" Avenue:
4. Improve Traffic flow on SW 58'" Avenue by reducing truck movements servicing the
Shoos at Sunset Place on this roadway:
5. The Proposer paving for he cost of reconfiguring SW 71" Street. and reconstructing the
25 metered public parking spaces:
6. The Proposer assuming responsibility for maintenance of the reconfigured portion of SW
71" Street with air rights development above:
7. Returning properr to the tax roles. and creating enhanced tax and revenue sources for
the C iry and he SMCRA:
8. The creation of new jobs and revenues for the City and he SMCRA. and
9. The synergy created by integrated redevelopment of this parcel and air rights with
adjacent parcels by the Proposer.
The Proposer has. as described in detail in Section E), below, control of all the parcels
located in the triangle t i bounded Kin dom Parcei Street.
he parcel otherwise nown Dixie Cleaners
Highway I)
located immediately adjacent to the subject parcel: and control of the all the parcels across cnerally
5S'" Avenue from the subject property, with the exception of the Eckazd Drug p B
bounded by SW 580 Avenue. Dixie Highwav i,US Highwav t), Red Road/SW 57'" Avenue, and
SW 72 "4 Street and referrea to as -The Shoos at Sunset Place Parcel. ".
In is the intent of the Proposer to develop a retail complex consisting of approximately
20.000 — =5.000 square feet of gross leasable area on ¢round level fronting on Dixie Highway.
and SW 58'" Avenue, and 500 parking spaces. Although under the ownership of a separate
affiliate of the Proposer. it is anticipated that this retail compiex will be managed and leased by
the same personnel responsible for the Shops at Sunset Place. In addition, at the ground level, the
redevelopment will also be able to accommodate the "truck maneuvering" area also depicted on
the Master Plan/Schematic Design and located directly across SW 58'h Avenue from the Service
the
Entrance et to the Shops f truck deliveries to the Shops at Sunset traffic flow in the area by minimizing
the
In order to accomplish this redevelopment proproos mately the east need to Itne o the
right -of- -way of the reconfigured SW 71" Street roximately the right -of -way of SW 510 Avenue.
property which the subject of the RFP &Q pP
The reconfigured SW 71" Street will become a private street in this area. but will remain open for
the flow of traffic. The City has determined that deveiopment in the air rights over a public street
is not permissible. Hence, in order to accommodate the development above ground level
anticipated by this Proposal. it will be necessary for SW 71" Street to be a private street in part to
provide from the development in the air rights above it.
It will also be necessary for the Citv /CRA to accuire any reversionary interests in SW 7l"
Street such as those detailed in George J. Lott's (the City Attorney) letter of November 30, 1998.
Mr. Lott describes that on the Plat of Coopers Amended. as recorded in Plat Book 4, at Page 152,
of the Public Records of Dade County, Florida, a reversionary interest was retained in the event
shown on the Plat, was discontinued. The that the a private streettttoeac accommodate the air rights development which ch conversion
s the ubject of this
Street to a p
proposal. may well trigger the requirements of the reversionary interest. Accordingly, this
reversionary interest needs to be extinguished by the City /CRA acquiring this interest by
appropriate means.
Upon completion of the steps described above, this Proposal provides for the
redevelopment of the parcel and development of air rights above the subject parcel of the RFP &Q
No, 98- 10 -01, the reconfigured SW 71" Street. and the Tire Kingdom Parcel/ and or the Mario s
Cleaners Parcei for a parking structure which will be owned by the entity to be formed by the
proposer. This parking structure will provide approximately 500 parking spaces on 5 levels
above grade. The structure will reach to approximately 62 feet above parking structure. Central
anticipated that Central Parking Corporation will operate the proposed parking
Parking Corporation also is responsible for the operation of the parking facilities that are a part of
the Shops at Sunset Place. The additional 500 parking spaces will provide additional parking
spaces for the general parking needs of the downtown area of South Miami.
To conclude. the Proposer's development will require the following development
incentives:
i. Cooperation by the City of South 'Miami in granting such exceptions and
variances under the Homerown Plan and its zoning ordinances to accommodate
the air rights development of the 500 space parking structure which is the subject
of this proposal.
ii. Acquisition of the reversionary interests in SW 7l" Street described above.
iii. Vacation of 71° Street as described above to become a private street to
accommodate the air rights development of a 500 space parking structure.
tv. RFP &Q No. 98development
10 Orr eand those portions aof SW 71, Street that will e owned as
private street either by the Citv or the CRA. Further, the City will need to grant
approval for certain encroachments for foundations in the alley on the south side
of the property being offered by R.PP &Q No. 98 -10 -01 and also certain air rights
encroachments above this allev.
Should any environmental clean up, other unforeseen conditions discovered
during the due diligence period which would impact or unduly delay the proposed
redevelopment of the Tire Kingdom parcel and/or the Mario's Cleaners parcel prove to
uneconomical, in the alternative, the Proposer would design the parking structure in an
alternative configuration. This alternative design is also shown in the Master
PlaniSchematic Design. In this configuration, the parking structure would also be
constructed on and over the Mario's Cleaners parcel.
The ultimate configuration of the air rights development and the parcels to be
included will be subject to negotiations between the Proposer and the SMCRA.
Similarlv, should additional opportunities for office. hotel. or other uses in addition to the
parking facilities in the air rights occur, these will also be subject to mutual agreement
with the SMCRA.
E) TIMING /CONDITIONS /SITE CONTROL
TlmintL
The timing under this Proposal is subject to the Schedule set forth in Section L), below.
The Proposer intents that upon notification of its selection by the SMCRA, it will enter into
negotiations with SMCRA to produce an agreement satisfactory to both parties which will
implement this Proposal.
ii. Conditions
This Proposal is conditioned upon and subject to:
1. Negotiation of a satisfactory agreement between the Proposer and the CRA;
2. Financing on terms and conditions satisfactory to the Proposer:
3. Proposer being satisfied that the Project Development Incentives described in Section D,
above. are to be provided in a timely and complete manner to wit the Proposer's
development will require the following development incentives:
i. Cooperation by the City of South Miami in granting such exceptions and
variances under the Homerown Plan and its zoning ordinances to accommodate
the air rights development of the 500 space parking structure which is the
subject of this proposal.
ii. Acquisition of the reversionary interests in SW 71" Street described above.
Vacation of 71" Street as described above to become a private street to
accommodate the air rights development of a 500 space parking structure.
Granting of development rights for the air rights over the property subject of
RFP &Q No. 98- 10 -01, and those portions of SW 71" Street that will be owned
as private street either by the City or the CRA. Further, the City will need to
grant approval for certain encroachments for foundations in the alley on the
south side of the propertyy being offered by RFP &Q No. 98 -10 -01 and also
certain air rights encroachments above this allev.
The Proposal is further conditioned upon:
4. The schedule set forth in Section L), below:
5. A timely determination that the Tire Kingdom Parcei and/or Mario's Cleaners Parcel
does not contain environmental or other conditions or issues discovered during due
diligence which either unduly impact or delav the proposed development.
6. Agreement with the CRA as to the best alternative configuration for the parking and the
elements for the development.
7. Finally, the Proposal is subject to timely approvals of the reconfigured segment of SW
71° Street.
iii. Repayment Sources
The Proposer will bear the costs associated with the construction and reconfiguration of the public
parking metered spaces that will remain at ground level, and SW 71" Street. Upon completion in
conjunction with the reconfiguration of SW 71" Street and the truck maneuvering area.
approximately 25 metered spaces will be available. -hese 25 parking meters should produce
additional revenues for the City due to changes in the rate structure and the increased demand from
adjacent parcels in the downtown. The Proposer will also assume responsibility for maintenance of
The segment of SW 71" Street under the air right development which will relieve the City of the
responsibility and expense.
The Simon Property Group has estimated that 20,000 to 25,000 square feet of gross leasable
area of retail space will be developed primahiv as restaurant and retail space. Such space would
generate an anticipated 60 employees, using the ICSC standards for Florida, and $10 million in would
sales. The would result in approximately $600,000 in Florida sales taxes of which an estimated V2 cent
or $50,000 in sales tax revenues being returned to Dade County through the State of Florida sales tax
revenue sharing formula. The parking deck will create annual sales in excess of $900,000 annually
which generate an addition $54,000 in Florida sales taxes of which an estimated '/, cent or $4,500 in
sales tax revenues being returned to Dade County through the State of Florida sales tax revenue sharing
formula.
In addition to sales tax revenues shared with the City of South Miami by Dade County under the
State revenue sharing, the operation of the retail space will create on -going revenues for the City under
its various licensing and tax programs such as parking taxes and franchise fees. The construction of the
facilities will also generate building permit and inspection fees for the Citv.
In addition, it is estimated that the development of the retail/parking facility will create an
estimated $137,500 for the parking facility and $87,000 for the retail area for a total of $224,500 in
total annual property taxes in the first year of operation. Of this amount the City of South Miami
receives approximately 24% or $53,880. Because the City owns the current municipal parking lot, this
is not subject to property taxes. By convening the municipal lot on ground level to private ownership,
the property will be subject to ad valorem taxes, the 5 above ground level of parking will be subject to
Property taxes as well the 20,000 sq. ft. development on the Triangle Parcel. At the end of the day, the
City of South Miami's tax and revenue base will have not only been protected, but also enhanced. The
incremental property tax available to the SMCRA will also have been enhanced. Should for example,
the additional office development under consideration as a part of the air rights development occur,
additional property taxes of an estimated $157,000 wouid be generated by a 40.000 sq. ft. area.
The construction activities resuiting from the proposals %viil create an estimated 60 construction.) obs
iv. Site Control
The Proposer, either directly, or through its affiliates has control of the following parcels adjacent to the
site which is the subject of RFP &Q No, 98- 10 -01. Control is as follows:
I. The parcel located in the triangle located adiacent to the subject property bounded by SW
71" Street. SW 58'" Avenue, and Dixie Highway kUS Highway 1) — the "Tire Kingdom" are
under the Proposer's control pursuant to an Option dated January I, 19982 by and between
Kurt L. Anderson and Collegiate Marketing, Inc. as Landlord and The Comras Company of
Florida. Inc. as Lessee to enter into a long term ground lease.
2. The parcel otherwise known as Mario's Cleaners located immediately adjacent to the
subject parcel are under the Proposer's control pursuant to an Option dated September t,
1998' by and between William Andrew Miller. Margaret NI. Pelton and Katherine M.
Easley as Seller and The Comras Company of Florida as Purchaser to acquire said parcel.
and
3. The parcel the across SW 58" Avenue from the subject propem, with the exception of the
"Eckard Drug" parcel. which are generally bounded by SW 58" Avenue. Dixie Highway
Estimate by Appraisal and Real Estate Economic Associates. Inc. dated 12/16/98
r See attached letter dated January 15. 1999 from Mifh,Pi e
(US Highwav 1), Red Road/SW 57 "' Avenue, and SW 72n° Street and referred to as
"The Shops at Sunset Place" which is owned in fee by an affiliate of the Proposer.
Control of these various parcels is shown, not to scale, for illustrative purposes only on the
diagram depicting the Site Offered by the SMCRA and Sites controlled by Proposer and its
Affiliates is as follows:
sog
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I:ar�. ice•
a
r
io
�_ 'aeShont ;t Sunee: ?
�g
91
Site offered by SMCPA
arm : e Sites controlled by proposer
And its affiliates
Sent cy: COMRAS CO111PANY 305 532 5212
January 15, 1999
Ms. Diana Morris, CRA Director
City of South Miami
6130 sunset Drive
South Miami, FL 33143
Dear Ms. Morris,
01118199 9:25AM .:00 805 Page 2.
EXHIBIT E - 1
Re: South Miami Community Redeveiooment Agency
RFP & Q No. 98 -10 -o I - City Surface Parking Lot - SW 58"
Ave. i SW 71" ST
This letter shall serve as confirmation that the properties outlined below are under the control of
the undersigned.
• Purchase Agreement dated September 1, 1998, by and between William Andrew
Miller, Margaret M. Pelton and Katherine M. Easley as Seller and The Contras
Company as Purchaser for the site known as "IMario's Cleaners ".
• Lease dated January 1, 1998, by and between Kurt L. Anderson and Collegiate
Marketing, Inc. as Landlord and The Comras Company of Florida, Inc. as Lessee for
the long term lease of the property known as "Tire Kingdom"
Should you require copies of these documents. please do not hesitate to contact me.
very truly yours.
Michael A. Comras
MAC/bcs
cc: Tom Schneider
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SIMON
PROPERTYGROUf
January 15, 1999
Mr. Don Delaney, SMCRA Consultant
South Miami Citv Hall
6130 Sunset Drive
South Miami. Florida 33143
Re: South Miami Community Redeveiopment Agency RFP &Q No. 98 -10 -01
For Master Real Estate Deveioper
Dear Mr. Delaney:
The undersigned has read the South Miami Community Redevelopment Agency's
(SMCRA) Request for Proposals and Qualifications Number 98- 10 -01. On behalf of our
proposal team. we agree to and accept the terms. specific limitations and conditions
expressed therein. WE HAVE READ. RELY UPON, ACKNOWLEDGE AND
ACCEPT THE SMCRA'S DISCLOSURE AND DISCLAMER WHICH IS FULLY
INCORPORATED BY REFERENCE INTO THIS LETTER.
Sincerely.
SIMON PROPERTY GROUP
On behalf of an entity to be formed
4�-�
Thomas J. Schneider
Senior Vice President - Deveiopment
H) PROJECT REDEVELOPMENT APPROACH
The redevelopment concept for this Proposai seeks to accomplish several goals which
will have a variety of positive benefits to the downtown area. Our proposal provides another
redevelopment project which will further the momentum for redevelopment of the downtown,
enhance the parking supply in the downtown, create new employment opportunities, enhance the
local tax base and revenues, and eliminate blighting influences in the area.
The retail development part of the proposal will be complementary to the surrounding
downtown area. It is anticipated that while this development will be owned by a separate
affiliated entity, it will nonetheless be developed, leased marketed, and managed by the same
personnel who have these responsibilities at the Shops at Sunset Place. Further, the retail
development will be of a style and quality equivalent to the Shops at Sunset Place. As a result of
development, as well as management an operation by the same personnel through affiliated
entities, this proposal assures the SMCRA of the maximum compatibility possible.
From an architectural treatment standpoint. the parking facility to be constructed on 5
levels above ground in fact offers an opportunity to enhance the parking supply in the downtown
area, and the appeal of the downtown. The Proposal utilizes the proposed new alignment for SW
71" Street suggested by the City Public Works Department and maintains the 25 metered public
parking spaces. The realignment of the street suggested by the City Public Works Department
results in a reduction of metered spaces from the current 44 spaces to 25 spaces. Nonetheless, the
metered spaces remain as a revenue source for the City and a convenient parking alternative for
persons traveling by car to the downtown.
. Similarly, because the 500 parking spaces to be developed in the air rights are
anticipated to be operated by Central Parking Corporation, which also operates the facilities at the
Shops at Sunset Place. a similar level of compatibility is also assured. Further. Central Parking
has developed a preliminary design, and alternative. to provide that the new facility will also be a
very efficient parking structure. Hence, the objectives of the Hometown Plan providing parking
facilities in a complementary, mixed -use setting will not only be met but also exceeded.
The opportunity for joint operation of the parking facilities as well as the operational
aspects of the retail facility will offer a high degree of synergy. This joint operation will also
create additional employment opportunities in the parking structure for 6 to 8 additional
employees. Further, the creation of the 20.000 to 25,000 square feet of anticipated
retail/restaurant space will create an additional 60 jobs. The nature of employment in restaurants
is that in an urban setting such as South Miami, employees for this type of user tend to come from
nearby areas. While the Proposer will not be the user or operator of the restaurant space, it is
anticipated that the tenants leasing the space will hire their employees from the surrounding areas
of South Miami. The Proposer wiil actively encourage tenants to seek employees from the
surrounding area. As a result the project should create additional employment for residents of
the CRA and the City as a whole.
The opportunity for joint management and operation with the Shops at Sunset Place
creates an additional benefit. The necessary management and maintenance support areas are
already available on -site at the Shops at Sunset Place. Hence the project will enjoy the full
benefit of on -site services without having to devote a portion of the building area to these
requirements. Hence, it is anticipated that the retail deveiooment on the Tire Kingdom Parcel
will represent a highly efficient building area where the gross leasable area of 20.000 to 25,000
sq. ft.. with the exception of any required pedestrian exiting from the S levels of parking above
will be virtually 100% efficient. The 5 levels of parking above with approximately 100 spaces
per level for a total of 500 spaces represent an opportunity to maximize the usability of the air
rights above the site while maintaining the current ground level use of 25 metered space and SW
71" Street.
Hence. while the site will undergo an intense ievel of development, it will nonetheless
maintain as pedestrian friendly face at street level. While the buildings can be constructed with
minimal set back. the street level storefronts will be maintained. This will create not only a safe
environment for pedestrians, but also one in which a pleasant streetscape with an active street life
and interesting vista of store facades can be maintained.
These two elements alone represent a significant redevelopment project to add to the on-
going momentum for redevelopment of the project area both physically and from a revenue
standpoint. Further. the existing Tire Kingdom facility provides a less than ideal face for the
downtown of South Miami fronting to US Highway i. The removal and replacement of this
facility will present a new and more inviting image of South Miami to Dixie Highway.
To conclude. the redevelopment will result in maintaining the 25 existing metered
parking spaces at ground level. 14 will be lost in the reconnguration. and will add 500 new
parking spaces. or a net new supply of 486 spaces. The downtown area will benefit from the
additional spaces immediately adjacent to it. Moreover. due to the different peak use times of
parking for restaurant and entertainment use, and for general downtown business use, the
additional parking spaces will also benefit the adiacent businesses in the downtown. The
elimination of the Tire Kingdom facility will both eliminate a blighting influence, and provide an
opportunity for new revenue sources as well.
The Proposer through its affiliate has achieved good success in the lease up of the Shops
at Sunset Place. Because the same team as the Shops at Sunset Place as a whole will develop,
lease and operate the redeveioped Tire Kingdom Parcel. a already has strong exposure not only in
Dade County, but regionaily and nationally as well. While the leasing horizon for the types or-
users to operate in this space is shorter than the development schedule set forth in Section L.
nonetheless, the Proposer anticipates that it will have no problem quickly locating quality
operations to lease this space at the appropriate point in the development cycle.
Although not specifically provided for by the Proposer as a pats of this Proposal.
Proposer has aiso engaged in preliminary conversations for other potential uses such as a 4 story
office complex of approximateiv 80.000 sq. ft. on top of the proposed parking structure. or a
limited service hotel facility of approximateiv 100 to i20 rooms. These additional uses would
add up and further enhance to the proposed redeveiooment project with a corresponding
additional increase in the tax revenues for the City of South :Miami and the SMCRA.
I) SCHEDULE
Acttvity Start Oatel
• Start Project Design
• Construction Documents &
Permitrine
Other Citv Actions'
• City /CRA acquisition'
• Construction
Leasing of Retail Space
Completion of Project
Upon execution of Agreement with CPA
6 months from "Stan Date "Z
6 Months from "Start Date"
6 months from "Start Date"
12— 16 months`
Concurrent with Construction
18 —2Z Months nom "Start Date"
'"Stan Date" is the date of execution of the DeveicoenCRA Redevelopment Agreement
Commencing upon execution of agreement with CRA
' City of reconstruct SW 71" Street_ and Vacate portions necessary for air right development
' City/CRA acquires reversionary interest in SW 71" Street as reccraed in Plat Book 4. at Page 152 of the
public records of Dade County Florida as described in Novemoer 30. 1998 letter from George J. Lott—City
Anomev
Commencing upon issuance of permits and completion of "Other City Actions' & City/CRA Acquisition
J) COST ESTIMATE
The estimated costs of the proposed project are as follows:
1. Land AcquisitiotvLand Leases $ 11000,000
2. Parking Structure 500 spaces (Mrs. $7500 per space 3,500,000
3. Site work/general conditionsi misc. 125,000
4. Soft costs — financing costs/interesvdesign 500,000
5. Commercial Space — shell/tenant allowances 500,000
6. Leasing and Deveiopment Fees 400,000
7. Contingencv 500.000
"Total Deveiopment Cost $ 6.525.000
Land Lease Payments during construction period.
K) PROPOSERS TEAM & TEAM QUALIFICATIONS
The proposed development of the subject property and adjoining parcels will be developed by an
entity to be formed which will be an affiliate of Simon Property Group. The Development Team
directly responsible is described in detail below.
Proiecr Deveiooer:
i. FIRM INFORMATION
Simon Property Group
On behalf of an entity to be formed
Address: 115 West Washington Street
Suite 15 East V
Indianapolis. Indiana 46204 -3420
Telephone: (3 17) 636 -1600
Parent Company: Simon Property Group — (SPG is the largest publicly traded retail
real estate company in North America as measured by market
capitalization. Simon Property Group is traded on the NYSE under the
Symbol "SPG ^.)
Parent Company
Officers & Principals:
Firm Size:
Melvin Simon. Co- Chairman of the Board of Directors
Herbert Simon. Co- Chairman of the Board of Directors
Hans C. Maumer. Vice Chairman of the Board of Directors
David Simon. Chief Executive Officer
Richard S. Sokolov. President and Chief Operating Officer
Mark S. Ticotin. Senior Executive Vice President
Randolph L. Foxworthy, Executive Vice President
William J. Garvey, Executive Vice President
James A. Napoli. Executive Vice President
John R- Neutzling, Executive Vice President
Stephen E. Sterrett Treasurer
James M. Barkley, General Counsel. Secretary
i rl�
Representatives Authorized to
Negotiate with SMCRA: Thomas 1. Schneider. Senior Vice President — Development
William R. Hammer. Vice President — Development
In House Capabilities & Services:
Simon Property Group, headquartered in Indianaooiis. Indiana. is a
self - administered and seif- managed real estate investment trust which.
through its subsidiary parmerships, is engaged primarily in the
ownersrtip, development management leasing, acquisition and
expansion of income- producuig properties. primarily regional malls
and community shopping centers. It currently owns or has an interest
in 241 properties containing an aegregate of 165 million square feet of
gross leasable area in 35 traree Tnenrk.r ,Dirk b�
management company. SPG owns or manages approximately 180
million square feet of gross leasable area in retail and mixed -use
properties.
Joint Venture Participating
Firms: The final structure of the entity to be formed by Simon Property Group
to own and managed the proposed project has not vet been completed.
There are three other firms that may potentially be admitted as limited
partners:
The Comras Company of Florida. 1 I I Lincoln Road Mall, Miami
Beach. FL 33I39;
Central Parking Corporation. 2401 21" Avenue South. Suite 200.
Nashville. Tennessee 372I2; and
Rosche Finanz.
ii. PROJECT DEVELOPMENT TEAM ORGANIZATION
The Project Deveiopment Team is as follows:
Thomas 1. Schneiaer
Senior Vice President — Development
Principai -In- Charge
Michaei Sham I William R. Hammer
Architect Vice President - Deveiooment
Principal- In- Charee: Thomas J. Schneider
Senior Vice President — Deveiooment
Address: 115 West Washington Street
Suite I5 East
Indianapolis. rN 46204 -3420
Telephone: (317) 263 -7032
(317) 685 -7:99 (facsimile)
Project Developer William R. Hammer
Vice President — Deveiooment
Address: 115 West Washington Street
Suite IS East
Indianapolis. IN 46204 -34220
Pamela Weller
Mall Manager
Telephone: (317) 263 -7006
(317) 685-7377 (facsimile)
Proiect Architect: Michael Sharp
Address: 115 West Washington Street
Suite M East
Indianapolis. IN 46204 -3420
Telephone: (317) 263 -7107
(317) 263 -2333 (facsimile)
Mall Monger: Pameia G. Weller
Address: The Shops at Sunset Place
2825 Sunset Drive. Suite 206
South Miami. FL 33143
Telephone: (305) 663 -4222
(305) 663 -0167 (facsimile)
Resumes of the members of the Project Development Team are set forth in Exhibit K -1.
iii. AFFILIATE COMPANY
The entity responsible for the deveionment of the project will be an entity to be formed
upon notification to the proposer that its proposal has been selected by the SMCRA pursuant to
RFP &Q No. 95- 10 -01. The entity, to be formed will be qualified to do business in the State of
Florida and will be an affiliate of Simon Property GrouD.
iv. KEY INDIVIDUALS
In addition to the Project Deveiopment Team described above, Central Parking
Corporation is also assisting the Project Deveiopment Team in the design and layout of the
parking facility that is the subject of this proposal. In addition. Central Parking Corporation.
which manages the structured parking facility located at the Shops at Sunset Place, may be
responsible for the day -to -day management of this facility. The key individuals for Central
Parking Corporation are Biiart Eghtedari. Senior Vice President. Todd W. Borsius, Regional
Manager. and Jason Finch. Senior Generai NfanagerrSouth Florida. Restunes of Messers.
Eghtedari. Borsius, and Finch are set forth in Exhibit K -2. The Comras Company of Florida will
bring its unique knowledge of mixed -use deveiopment in the Miami area and provide additional
support in the development process to the Project Deveiopment Team. Key individuals for the
Contras Company of Florida. Inc. are Joseph T. Contras. Chairman. and Michael A. Contras,
President. Resumes of Messers. Contras are set forth in Exhibit K -3.
v. FELONY TNDICT.,iENTS AND CONVTCTIONS
No member of the Project Deveiopment Team described above has ever been indicted
Central Parking or the Contras Company of Florida- Inc. described in subsection iv., above, has
been indicted for, or convicted of a felony.
vi. LITIGATION HISTORY
Any material litigation affecting Simon Property Group is described in Note !!-
Commitments and Contingencies — Litigation to the Unaudited Condensed Financial Statements(
and in Part II — Other Information. Item 1: Legai Proceedings' of the Form 10 -Q /A — Quarterly
Report Pursuant to Section 13 or 15 (d) to the Securities Exchange Act of 1934.
Simon Propem, Group has not been the subject of any litigation arising out of a response
to or failure to perform under a Reauest for Proposal issued by a public agency.
vii. PREVIOUS RELEVANT DEVELOPMENT EXPERIENCE
Simon Property Group currently owns 2 -1 properties and. together Nvith its affiliated
management company, owns or manages approximately 180 million square feet of gross leasable
area in 35 states. Its national presence is the largest and most diverse in the industry, consisting
of regional mail. community shopping centers. and speciaity and mixed -use projects. In
addition, either through affiliates. or through its principals. its also has experience in the
development and redevelopment of historic properties such as the Indiana Roof Ballroom in
Indianapolis. office buildings, and hotels.
With regard to the Threshold Qualifications set forth in Section 10 of the RFP &Q, Simon
Property Group riled as a part of its Proposer's Letter of Intent dated November 30, 1998
addressed to the SMCRA, an request for a determination as to its having met the Threshold
Qualifications. The Proposer 's Letter of Intent dated ?November 30. 1998 addressed to the
SMCRA and request for a determination as to its having met the Threshold Qualifications is
included in E.eltibit K --i.
Specifically, Simon Property Group has had the following experience %vith large scale:
(i) Public Sector Proiects: Simon Property Group has been involved in a wide variety
of projects with the public sector. In addition to the Circle Centre project, described in
subsection iv. Mired -Use Urban Proiecrs. below. whereby Simon Property Group was
selected pursuant to an RFP, Simon Property Group has been involved in a wide variety
of other public sector projects. Seminole Towne Center, cited in the response to
Threshold Qualification (B) in Section 10 of the RFP &Q, was located in a CRA and part
of a TIF District under Florida's redevelopment law. In addition to Florida. SPG has also
had involvement with redevelopment proiects in such diverse states as Indiana. Illinois.
Missouri. South Carolina. California. Texas. Pennsvivania. Virginia. and Maryland. SPG
has been involved with other forms of local, state. and federal programs in California.
Arizona New Mexico. Texas. Louisiana :Forth Carolina. Illinois. Missouri, New Ieesev,
and Illinois.
(ii) Publici?rivate joint Venture P -,OieC -s: the Circle Center Project described in
detail in subsection iv. Mired -Use Urban ;°,,leers. involves several unique forms of
public /private parmershin. The Metropoiitan Development Commission of the City of
Indianapolis selected Circle Centre Deveiopment Company to lease and develop the
Circle Centre project through a Request for Proposal Process. Another affiliate was
selected to redevelop the historic Indiana Theater Roof Ballroom through a separate
Request for Proposal Process.
(iii) Mixed -Use Proiects: Simon Property Group has been involved in a number of
mixed -use projects through its affiliates. The Shops at Sunset Place described in detail
in subsection v. Previous Experrence in the Southeastern United States below, is a mixed
use retail and entertainment facility. The Circle Centre project in Indianapolis described
in subsection iv. Mired -Use Urban Protects. below, is a mixed -use retail, entertainment.
hotel, performing acts. and historic ballroom facility. The Newport Project, described
more fully in Subsection vii. Ekoerrence ivirh Multi- Phased Prniecrs below, is a mixed -
use project consisting of retail. housing, office. and rapid transit station. Each of these
examples included structured parking facilities required to support the mixed -use
development.
(iv) Mixed -Use Urban Projects: Simon Property Group has had a wide variety of
experience with mixed -use urban projects. The Newport Project, described more fuliv in
Subsection vii. Experience mvirh Multi- Phased Proiects below, is one example. In
Indianapolis. Simon Property Group, through several affiliates, developed the Circle
Centro, Arts Garden. Claypool Court, and historic Indiana Theater Roof Ballroom with
supporting underground and structured parking. The Circle Centre consists of a regional
shopping center of approximately 780,000 square feet with theaters and entertainment
facilities: Claypool Court retail consisting of approximately 70,000 square feet; a 360
room Embassy Suites Hotel: a facility for the performing ass: a renovated, historic
ballroom complex used for both performances and meeting and banquets.
(v) Previous Experience in the Southe^s- -e-, United States: Simon Property Group
has developed or owns a large number of projects in the Southeastern United States.
Throueh its affiliate Bakery Associates. Ltd., a Florida limited parmership, it is
developing the Shops at Sunset Place. an approximately 510,000 square foot mixed -use
retail, and entertainment facility with supporting parking facilities located immediately
across SW 58 "' Avenue in South Miami from the subject property. In addition to the
Shops at Sunset Place. Simon Property Group owns and/or manages 34 other regional
mall and shopping centers in the State of Florida alone. In addition, Simon Property
Group owns and/or manages properties in every state in the Southeastern United States
except Alabama.
(vi) Experience �%�Th Nfulti- Phased P-eiects: The Newport Project located in Jersey
City, New Jersey consists of 325 acre redeveicament project being developed by an
affiliate of Simon Property Group. Deveiopment commenced in 1983 and is still on
going. The Newport Project includes a i million square foot regional shopping center.
other retail facilities of 220.000 square feet 2,300 apartment units with.800 under
construction: 1.5 million square feet of ounce space with 600.000 square feet under
construction: 5 parking decks consisting of aoproximateiv 7,100 parking spaces: and a
Port Authority Trans- Hudson rapid transit station. Future development rights include a
pad for a fourth anchor department store for the regional shopping center. 5,400
additional apartment units: 2.4 million square feet of office space: 1,200 hotel rooms.
including 200 for which construction is schedule to commence in 1999; and additional
narkiva tarilirinc
The Contras Company. in a ioint venture with Lennar Partners. responded to a Request
for Proposai issued by the Citv of South Miami Beach for creative solutions to the
parking problems affecting South Beach. The project. as conceived. will contained
approximately 100.000 square feet of Class "A" office space. a 600 car parking garage.
and 40.000 square feet of retail space. Construction is anticipated to commence in the
Summer of 1999. I'ne venture was selected by rmed the Selection Committee, and c
tly negotiating a ground lease.
onfi
by the Miami Beach Commission. and is cutten
EXMDIT K -1
PROJECT DEVELOPMEN. IT TEAM RESUMES
THOMAS J. SCHNEIDER —
SENIOR VICE PRESIDENT —DEVELOPMENT
Principal in Charge
WORK HISTORY
SIMON PROPERTY GROUP 1988 to Present
Senior Vice President - D veignmen.
Appointed to position in 1993, responsible for all new mail and specialty center cievelopmeac Primacy
responsibility for development of trails and speciairy centers including acquisition of ground gaining the
right to build negotiation with major denarmreat stores and anchor tenants and coordination of the
development process and "team ". The team would include professionals in Leasing, Architecture,
Engineering, Construction. Management. Finance. Marketing and others.
. ..o
1978— 1988
Law school/commercial real estate, brokerage, retail leasing, both landlord and tenant representation, sales
of commercial real estate, both owner and investor reoreseatanon. small scale development.
THE MACERICH COMPANY — 1977 — 1978
Acquisition and expansiotviedevelopment of regional malls.
MELVIN SIMON & ASSOCIATES. INC. — 1972 —1977
Administrative assistant.
EDUCATION
Indiana University: BS in Business (Accounting Slaicr), with Honors
Indiana University School of Law: JD. Magna Cum Laude
William R. Hammer. Vice President — Development. Project Developer
Mr. Hammer io ned the predecessor to Simon Property Grout) in July 1985 to assist in the development of
several urban mixed -use projects and redevelopment 'Projects' being undertaken in Indianapolis and Jersey
City. In the intervening period. Mr. Hammer has worked on the development of parking projects in
downtown and suburban sentries, specialized development projects such as the redevelopment of the
historic Indiana Roof Ballroom in downtown Indianapolis. office and hotel projects n Chicago and Jersey
City, as well as the full ranee of retail and urban entertainment projects being undertaken by Simon
Property Group. and by their parmers. In addition to development activities, Mr. Hammer as serves as
Simon Property Group's Public Finance Department. During his tenure. he has assisted in public sector
financings, principally tax increment financings, related to Simon Projects in excess of $800 million.
Mr. Hammer has been active with the Urban Land Institute. including, most recently, serving a consultant
to the City of Orlando on the redevelopment of its downtown area. and pamcipating in a recent ULI
Mayors Forum discussing redevelopment in downtown West Palm Beach. Mr. Hammer has also served as
the Governmental Affairs Chairman for Indiana of the International Council of Shopping Centers. Mr.
Hammer also served as an advisor to the U.S. Department of Housing and Urban Development on
revamping their urban redevelopment programs. Mr. Hammer has also served on the Board of Directors of
the Indianapolis Housing Partnership and the Westfield- Washington Economic Development Commission.
Prior to joinine Simon Property Group, Mr. Hammer had a 16 -year tenure with the U.S. Department of
Housing and Urban Development. During this tenure, he held several positions ranging from the
administration of urban renewal projects in the southeastern region of the United States, to serving as a
principal author of the regulations and implementing policies for the Community Development Block Grant
Program. Mr. Hammer concluded his tenure with HUD servme for 7 years as Senior Development
Director and Regional Director for the Mid -West and Northwest Regions for the Urban Development
Action Grant ("t-DAG ") Program. and as Deputy UDAG Program Director.
Mr. Hammer is a native of Tampa. Florida and was educated at Emory Universirv.
Michael B. Sharp
Project Architect
Educated in South Africa and UK.
Six year architectural degree program.
Have practiced in South Africa. England and USA. Primarily involved with commercial development
residential and medical facilities. Been with Simon Property Group since November 1980 and have been
involved in major retail developments and renovation of existing properties.
Most notable in recent years have been the urban projects of Circle Centre in Indianapolis. IN and The
Shops at Sunset Place in South Miami FL. Concept plans are prepared in house, and then outside
consultant architect are directed in the design, planning and execution of the projects.
The work on Sunset olace has provided a comfort level with the "home- town" plan. and for the required
design and permitting processes.
Pamela G. Weller. Mall Manager
Etnvio, nentr
The Shops at Sunset Place. - Getterai rbfanaeer
Responsiole for overall operation or regional shopping center encompassing all
facets of Property Management including Maintenance. Housekeeping,
Temporary Tenant Income. Secunry, Marketing, Public Relations and Community
Outreacn. Advertising, Tenant Communication. Community Service Projects.
Budget Preparation ano Analysis. Administration and control of property budget.
Weller iNlarketing. Inc.. - President
A Specialized Management. Marketing ana Public Relations Consulting Company.
Expertise includes: Marketing Analysis. Hands-on Management. Public Relations and
Community Outreach. Focus Groups. Special Evens and Promotions: Grand Openings,
Community Relations ana Celebrity Personal Appearances.
Nothing in Common, Inc. -Tice President. Marketing tit Ooerartom
Responsible for entire operation of home accessory and gift stores: buying, open -to -buy,
visual merchandising, hiringttraining sales staff. inventory control and telemarketing.
The Edward J. DeBartolo Corporation - General Manager, Cutler Ridge Hfall
Responsible for overall operation of regional shopping center encompassing all facers of
Property Management mciudina Maintenance. Housekeeping, Temporary Tenant
Income. Security, Marketing. Public Relations and Community Outreach. Advertising,
Tenant Communication. Community Service Projects. Budget Preparation and Analysis.
Administration and control of oroperry budget in excess of S2.5 million. Staff of 74.
Regional Marketing Manager, Florida Central & East Regions
Supervisea the overall impiememauon of Marketing Plans. Community Outreach.
Advertising. Public Relations. Calendar of Events. Budget Analysis and all program
activities of multiple regional shopping centers througnout Florida and Georgia.
Responsible for hiring and training the Marketing DirectoriAssisrant Manager at each
property. Worked directly with property management in all aspects of marketing.
Marketing Director. Dadeiand Mall
Responsible for all aspects of marketing a top ten regional shopping centers. Created and
implemented annual Marketmg Analysis. Public Relations. annual Budge4 Calendar of
Events and Programs including an ongoing tenant relations project. Developed
institutional campaigns. television commercials, merchandising, direct mail campaigns
and supervised all advertising projects and meaia buys.
Federated Department Stores. Sardines
Director. Sceetai Events. Public Relations and Fashion Activities
.Manager. ,hate of Florida Fouts Activities.
Assistant ,itanager. Women s Accessories
Career ACComnlishments:
• Spearneased a commumry -Hurricane Andrew' RecovervtRelief Center at Cutler
Ridge Mall and became the community liaison with Metro Dade Police. National
Guard. FEMA and the South Dade Government Center.
• Cutler Ridge Mall Community- Sponsored Grand Re- Opening Project.
Responsible for 12 Grana 0oenin2s and Grand Re- Openings:
Created the onemai "Spotlight' Merchandising Program than won national accolades.
Created the original Food Court Marketing Program at Dadelana Mall
Community Affiliations-
Chamber South. Chairwoman -Elect 1997 -98
PerrincCutler Ridge Rotary Club. Board of Directors
Community Health Founaarion of South Dade. Board Member
Community Health of South Dade. CHI. Boara Member
City College. Advisory Boara
Coalition of the Status of Women. City of South Miami
Citizens Advisory Council. Metro-Dade Police Department
Perrine,Cuder Ridge Council. Inc.. Founame_ Member
Friends of Cutler Ridge Mail. Founaer
The Associates. South Miami Hosonai
Red/Sunset Merchants Association
EXHIBIT K -2
KEY INDIVIDUAL RESU,S
CENTRAL PARKING CORPORATION
lac -08 -98 02:05P Central Parking 305 374 8271 P.04
BIJAN EGI ITEDARI
Senior Vice President
Central Parking System of Florida, Inc.
For IU years. Mr. Bijan Eghtedari has been involved in the parking and transportation
management industry. Prior to assuming the Senior Vice President position, Mr.
Eglitedari served as Regional Vice President for the Florida region which includes
Puerto Rico and Chile. At his current position as Senior Vice President of Central
Parkine System, he oversees the Florida. Arlanta and Washington D.C. regions as well as
Chile
PROFESSIONAL EXPERIENCE
Central Parking System of Florida. Inc.
November 1998- Present
Senior Vice President
1997- November 1998
Regiunal Vice President
1995 -1997
Regional Manager
1991 -1995
Creneral Managcr
Central Parking System of Maryland, Inc.
1988 -1991
Operations Manager /Washington D.C.
EDUCATION
Georgc Washington University - Bachelor of Science -1982
OTHER
Member of FP A
Member of BONIA
Mcmbeu• of NPA
Member of IRTTA
KCF uY +2.huus a >UnseL 1'I ece .IA- n -uo . .4ro1 -,, J ,1,1 _
3m= -08 -98 02:05P Central Parking 30S 374 8271 -- P.05
TODD W. BROSIUS
Regional Manager
Central Parking System of Florida, Inc.
Mr. Brosius has been employed with Central Parking System for over four years. Prior to
assuming the Regional Manager position, Mf. Brosius served as General Manager for
Tampa and South Florida. Prior to the Tampa position, Mr. Brosius served as the
Operations Manager for Atlanta. Currently, as Regionai Manager of South Florida Mr.
Brosius oversees 1500 employees in over 250 properties located in Miami, Tampa,
Jacksonville. Orlando and Puerto Rico, with revenues exceeding $75 million.
PROFESSIONAL EXPERIENCE
Centrai Parking System of Florida, Inc.
November 1998- Present
Regional ManageriSouth Florida
June ! 997- November 1998
General ManaecriSouth Florida
1995 -June 1997
Generai ManagerrTampa
Central Parking System of Georgia, Inc.
1993 -1995
Operations ManageriAtlanta
EDUCATION
University of South Florida — Bachelor of Arts- 1993
OTHER
Member of BOMA
Member of Greater Miami Chamber of Commerce
Member of Coconut Grove Chamber of Commerce
Member of Tampa Downtown Partnership Group
'". U -p,'Ip a, ' U". r' I I n' -- 11-00 �. VUI'.H "J, u, o — „-
Doc -08 -98 02:05P Central Parking 306 374 827:1 - e,u, .,.
P.t
JASON FINCII
Senior Generai Manager/ South Florida
Central Parking System of Florida, Inc.
Par over six years, Mr. Finch has been employed with Central Parking System. Currently,
Mr. Finch oversees more than 60 properties. consisting of over 750 employees. The
properties generate in excess of $50 million per year. Prior to aceuming the General
Manager position in South Florida. Mr. Filch served as the General Manager for Pucrto
Ricu and El Paso, l'exas.
PROFESSIONAL EXPERIENCE
Central Parking System of Florida, Inc.
!November 1998- Present
Senior General ManageriSouth Florida
Central Parking System (if Puerto Rico. Inc.
April 1996 - November 1998
Grenerai Manager
C.entrai Parking System of Texas, inc.
Novcmoer 1994- Aprii 1996
General NlanaveriEl Paso
Central Parking. System of ,Vizona
December 1992- Novcmber 1994
EDUCATION
Arizona State University- Bachelor of Science- 1991
OTHER
Member of SOMA
Membcr of Greater Miami Chamber of Commerce
Membcr of Coconut Gruve Chamoer of Commerce
EXHIBIT h -=
KEY INDIVIDUAL RESUMES
THE COMRAS COMPANY OF FLORIDA
Sent oy: COMHAS GG6U'ANY auq ace gcic .cr, +rea c.curm .,.,u c,r rdge
t
JOSEPH T. COMRAS
Chairman
The Comras Company of Florida Inc.
Over the past 40 years Joseph T. Comras has been one of the most prolific commercial and resi-
dential developers in New York City, Miami and other major cores throughout the United States.
Mr, Comras has been a general partner in a portfolio of over five million feet of commercial
properties, office space and approximately 10,000 residenow units. He has demonstrated historic
preservation experience. Since forming The Comras Company in 1973, Mr. Comras has applied his
i skills in arranging over $2.5 billion of construction and acquisition financing for virtually all types of
commercial and residential properties, some of which are listed below.
PROFESSIONAL EXPERIENCE
The Comras Company of Florida Inc.. Miami i 993 . Present
Chairman / Partner
The Comras Company • New York 1973 1993
President/ Partner
Sonneblick Goldman Corporation 1971 - 1973
Senior Vice President, Director and Scocknolder
Arlen Properties. Inc. 1961 -1971
• Vice President / Partner
Sonnenblick Goldman Corporation 1956 - 1961
Sales/ Financing
PROJECTS
Below is a partial list of commercial and reslaennai oropert:es tint have been owned, financed or
said by The Comras Company:
• The Shops at Sunset Place - South Miami - schcOuied to oven in Occober. 1998
• The Sinclair - A specialty retail building iocated at 7th Street and Collins Avenue -South Beach
• Spec's Music - 511 Collins Avenue - South Beacn . compietec July, 1995
• Palm Plaza -A 35,000 square foot multi-levei retan retail building, Coconut Grove
• Aventura - 800 acre planned community - Aventura
• Arlen House - 1.200 apartments - 158th & Collins Avenue. Miami Beach
• Imperial Pines - 375 apartments - Miami
• West End Avenue - between 61 st & 64th Streets - 1.000 apartments - New York
• 730 Third Avenue - 350,000 square foot office ouiiiding - New York, New York
• The Alexandria - Broadway & 72nd Street - 2C0 apartments- New York, New York
• 1888 Century Park East - 450,000 square foot c:3ce building - Century City, California
• 888 Seventh Avenue - 500,000 square foot Cffice building - New York, New York
• 633 Third Avenue - 1,000,000 square foot office ouilding - •,;ewYork. New York
• Olympic Tower - Fifth Avenue - Office / Residential - New'r'crk. New York
• One Park Avenue . 1,000400 square foot office ouildng - .New•York, New York
• 101 Park Avenue - 1,000.000 scuare foot office buiidng - :New York, New York
• 875 Third Avenue - S50,000 square foot office building - ;New York. New York
375 Park Avenue - 700,000 scuare foot office budding (Seaeram Bldg.) - New York, New York
Sent cy: CO"MRAS COMPANY 305 oat a212
aya
OTHER
Past Member - Investment Advisory Committee of North American Mortgage investors /
Estate Investment Trust (NYSE) Real
Past Member - Investment Advisory Committee, Mortgage Growth Invescors.a Real Estate
!
Investment Trust (AMEX)
• Member - Real Estate Boara of New York
• Member - Urban Land Institute
• Member - The International Council of Shopping Centers
• Trustee - National Jewish Center for Immunology and Respiratory Medicine
Sent by: COMRAS COMPANY 305 532 5212 a iltao 1.,arm „
MICHAEL A. COMRAS
President
The Comras Company of Florida. Inc.
Michael A. Comras began his real estate career in the early 1980's. He joinco the
Comras 8 year ole
s Company of New York in 1990 and took the company in a new directior, by openmg an
office in Miami Beach, Florida in 1992.1lis diverse responsibilities include property acquisition,
financing, development, teasing and management. Since opening the Miami Beach office. cne company
has developed approximately 700.000 sq, ft, of specialty retail and entertainment . Notable
developments include the re- development of the old Bakery Center into The Place,The Speci Shops spa Susie;
ce ce Music building and The Gap building on Collins Avenue. Miami Beach In addition
to his development responsibilities he also serves as a tenant representative to retail and
commercial office tenants. Prior to joining The Comras Company, Mr Comras was associated with
Williams. Real Estate during a decade of success. While at Williams, ne was involved with :easing and
management programs of approximately 4 million square feet of office ant re;,,l spat„ I!, New yo.,
City. In his capacity, Mr. Comras was instrumental in !easing transactions with such tenants as
Chemical Bank, Merril Lynch. MCI Telecommunications, Uniced Artists Cemmunaau;ria -s as
Union. New York City and New York Scare.
PROFESSIONAL EXPERIENCE
The Comras Company of Floricia.Inc. 1990 - Presenc
• Director of Acquisition, Leasing, Financing and Deveiopmenr
Williams Real Estate • 1983 -1990
Commercial Leasing Direcccrllaroperty Manager
Responsibilities included analyzing office buildings for acquisition: develoornonc arc imple"21=
von of capital improvement programs and property management
EDUCATION
Universiq of Miami - Bachelor in Business Administration, real estate finance
Pace University. New York City - Master of Business Administration, banking
OTHER
International Council of Shopping Centers
Chambers of Commerce - Miami Beach. Coconut Grove: C::amber So_d:
New York Real Estate Hoard
`Young Mortgage Bankers Association
`Young Men'sfWomen Real EstateAssoaation
- ;983
arid fma•ice - 1995
oya �„
EXHIBIT K-4
PROPOSER'S LETTER OF INTENT
REQUEST FOR A DETERMINATION OF HAVING TMET
THE THRESHOLD QUALIFICATIONS SET FORTH IN SECTION 10 OF THE
RFP &Q
SIMON
PROPERTYGRO11
November 30, 1998
Ms. Diana Morris, CPA Director
South Miami City Hall
City Managers Office
6130 Sunset Drive
S. Miami, FL 33143
RE: South Miami Community Redevelopment Agency
RFP & Q No. 98 -10 -01 — City Surface Parkine Lot —
SW 58"' AveJSW 71" St.
Proposer's Letter of Intent
Dear Ms. Morris:
Simon Property Group ( "SPG ") and The Contras Company ( "TCC'� are pleased to
express their intent to file a proposal pursuant to the South Miami Community
Redevelopment Agency's ( "SMCRA ") Request for Proposals and Qualifications, RFP &
Q No. 98- 10 -01, released on November 17, 1998 for the Redevelopment of a City Owned
Surface Parking Lot at SW 581h Avenue and SW 71" Street in the Citv of South Miami.
Further, we hereby request a determination by the SIvICR.A whether we meet the
Threshold Qualifications set forth in Section 10 of the Request for Proposals and
Qualifications issued by the SMCRA. In regard to the requirements set forth in Section
10, we are pleased to provide you with information by which we demonstrate
qualification as a proposer team:
A. Experience in two successful projects, previously completed or under
development for which at least $5 million in financing was secured.
B. The completion of a successful development of at least one project of a minimum
of 25.000 square feet of total development.
C. The completion of a successful development of at least one mixed -use
development urban project of a minimum of 25.000 square feet.
D. A record of long -term management of completed projects, including related
experience in the management of each development component of the proposer's
proposai.
E. The award of at least one publicly offered RFP with another unit of government in
order to demonstrate experience in public/private partnerships.
With regard to Threshold Oualification (A) — SPG and TCC have previously formed a
venture known as Bakery Associates, Ltd., a Florida limited partnership, which is in the
process of developing the Shops at Sunset Place located in the City of South Miami, and
for which financing in excess of $5 million was secured from Key Bank, as lead lender.
The Shops at Sunset Place is an urban mixed -use project consisting of approximately
510,000 square feet of retail and entertainment facilities.
In addition to this project, SPG, through its subsidiary Mission Viejo Associates, L.P.,
recently closed a construction loan facility for 5162 million with Hypoverensbank for the
renovation and expansion of the Mission Viejo Mall located in Mission Viejo, California.
SPG is a self - administered and self - managed real estate investment trust (REIT) publicly
traded over the New York Stock Exchange under the symbol "SPG ". Through its
subsidiary partnerships, Simon is engaged in the ownership, development, management,
leasing, acquisition and expansion of income - producing properties. Considered the
largest REIT in the world, Simon Property Group has a total market capitalization of
approximately $17 billion. Simon Property Group currently owns or has an interest in
241 properties and, together with its affiliated management company, owns or manages
approximately 180 million square feet of gross leasable area. Its national presence, in 35
states, is the largest and most diverse in the industry, consisting of regional malls,
community shopping centers and specialty and mixed -use properties.
TCC is a full service real estate company based in Miami Beach, Florida. The principals
of the Company possess a combined sixty years of expertise and achievement within the
industry. Their experience includes financing, leasing, development. joint ventures,
management and sales. Over the past thirty years, the Company had developed numerous
properties in the Miami Dade area and is recognized for its creative urban in -fill
developments.
With regard to Threshold Oualification (B) —As noted above, SPG owns or manages
approximately 180 million square feet of projects in 35 states. In particular, Thomas J.
Schneider, Senior Vice President — Development. who will be the principal in charge on
behalf of SPG and TCC, should we be selected as the successful proposer, has been
involved in a number of successful development projects. In particular, Mr. Schneider is
principal in charge of the Shops at Sunset Place, and. most recently, was principal in
charge of Seminole Towne Center, located at Sanford. Florida, and Lakeline Mall,
located in Austin, Texas. Both Seminole Towne Center and Lakeline Malls opened the
fall of 1995. Seminole Towne Center consists of approximately 1. 13 million square feet
of gross leasable area. Lakeline Mall consists of approximately 1.1 million square feet of
gross leasable area.
With reeard to Threshold Oualification (C) — SPG has successfully developed a number
of urban mixed -use projects. Among these projects, through its affiliate Circle Centre
Development Company, an Indiana general parmershin, SPG successfully developed
Circle Centre. Circle Centre, which opened in 1995, is an urban mixed -use project
consisting of approximateiv 790,000 square feet of gross leasable area of retail and
entertainment facilities, as well as the adjoining Arts Garden. which is a facilitv for the
With regard to Threshold (qualification (D) — SPG currently own or has an interest in 241
properties and, together with its affiliated management company, owns or manages
approximately 180 million square feet of gross leasable area. Its national presence, in 35
states, is the largest and most diverse in the industry, consisting of regional malls,
community shopping centers and specialty and mixed -use properties. SPG and its
antecedents have been in operation since 1960.
With regard to Threshold Qualification (F) — SPG, through its affiliate Circle Centre
Development Company, an Indiana general partnership, responded to and was selected,
pursuant to a proposal in response to RFP's issued by the Metropolitan Development
Commission of the City of Indianapolis. Indiana as a lessor and developer of the tracts
located within the West Washington Street Redevelopment Area that became the Circle
Centre project. Circle Centre is described in detail in the paragraph responding to
Threshold Qualification C.
In addition to the Circle Centre project whereby SPG was selected pursuant to an RFP as
required by the Threshold Qualification, SPG has been involved in a wide variety of
other projects which involve public/private partnerships in other forms. Seminole Towne
Center, cited in the response to Threshold Qualification (B), was located in a CRA and
part of a TIF District under Florida's redevelopment law. In addition to Florida, SPG has
also had involvement with redevelopment projects in such diverse states as Indiana,
Illinois, Missouri. South Carolina. California. Texas, Pennsylvania, Virginia and
Marviand. SPG has been involved with other forms of local, state and federal programs in
California, Arizona. New Mexico, Texas, Louisiana. North Carolina, Illinois, Missouri
and New Jersey.
Based upon the above information which I believe demonstrates the manner in which we
meet the requirements set forth in each of the five Threshold Qualifications pursuant to
Section 10 of the RFP & Q, SPG and TCC respectfully request that SMCRA, pursuant to
its pre - screening process, determine that as a proposer, we posses the requisite expertise,
experience and financial capacity to meet the standards set forth in such Threshold
Qualifications.
We look forward to participation in the Pre - Proposal Conference to be conducted by
SMCRA on December 3, 1998. We will be pieased to provide you with any additional
information that you may require.
GROUP
Thomas J. Ssiuieider
Senior Vice President — Deveiopment
(ts 1nov981moms2.11r)
L) ADDITIONAL CONSIDERATIONS
The development opportunity described in this proposal presents several unique
opportunities that we believe that the SMCRA should consider. This project is of a size
that the Simon Property Group usually would not participate in. However, because the
proposed site is located immediately across SW 58d' Avenue from the Shops at Sunset
Place, we view this development as a unique opportunity.
Simon Property Group has the financial strength to assure the successful
redevelopment of the subject property. The parking facility and proposed retail space to
be developed on adjoining parcels will be of a quality compatible with the Shops at
Sunset Place. '.Moreover, while this development will be owned by a separate entity, it
will be managed and leased in coordination with the Shops at Sunset Place. As a result it
will receive a much broader exposure for marketing, leasing, and operations than a "stand
alone" facility. It will in effect be a part of a complex in excess of 500,000 square feet.
The considerable resources of Simon Property Group in the areas of project
design and development, marketing, leasing and operations will be made available to the
proposed project. Thus, while a parking facility would not normally have an exposure or
impact other than on a localized basis, as a part of a coordinated development along with .
the adjoining parcels and in complement to the Shops at Sunset Place, this development,
if our proposal is selected, will receive national exposure and be of a much more far
reaching impact and benefit.
The coordination of the development of the subject property with the Shops at
Sunset Place will also provide additional parking support not only for the Shops at Sunset
Place. but the downtown area of South Miami as well. The coordinated development of
the property assures that the subject property will be more fully developed in accordance
with the General Principals & Policy Recommendations of the Homerown Plan.
M) FINANCIAL STATEMENTS
Please find the following financial statements filed with the U.S. Securities and
Exchange Commission attached as Exhibits hereto:
■ Simon Property Group, Inc. —Form. 10 -Q /A (Amendment No. 1)
QUAR=YREPORT - Quarterly Report Pursuant to Section 13 or
15 (d) of the Securities Exchange Act of 1934, dated November 18,
1998, for the Quarterly Period Ending September 30, 1998 — [Labeled
as Exhibit M —11
■ Simon Property Group, Inc. — Form 8 -K CURRENT REPORT
Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of
1934, dated November 25, 1998 — [Labeled as EXHIBIT M — 2]