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Res No 209-16-14764RESOLUTIONNO.209-16-14764 AResolutionrelatingtothereviewandacceptanceof tie Annual Housing Report of the RRC 57 Avenue LLC [Red Road Commons]. WHEREAS,theownersandoperators of theRedRoadCommonsdevelopment,pursuantto the Development Agreement dated March 29,2007,betweentheCity of SouthMiami and RRC 57 Avenue LLC,isrequiredtosubmitan annual housing reporttotheCity Manager;and WHEREAS,thedevelopmentagreementSection 2f stipulates that aminimum of ten. percent (10%)of theresidentialonthe property willrenttoindividualsorfamiliesinthe ModerateIncomeSegment of theaffordablehousinggroup;and WHEREAS,thearea median incomeforMiami-DadeCountyin 2015 was$49,900;and WHEREAS,theDecember 31,2015reportdeliveredtothePlanningDepartmentbyRed Road Commons,shows that 390 units were rented,of which 41unitswere rented to individuals or familiesthatqualifywithintheModerateIncome Segment,accordingtothereport;and -WHEREAS,the Planning DepartmentreviewedtheAnnualHousingReportandfindsthat itisincompliancewiththeprovisionofSection 2f of theDevelopmentAgreement,basedonthe data reflected inthereport. NOW,.THEREFORE,BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI,JLORIDA: Section1.TheAnnualHousingReportfortheRedRoadCommonsdevelopmentsubmitted onFebruary 18,2016 isherebyacceptedbytheCityCommissionforthecalendaryear 2015 based ontheassumptionthatthedatareflectedinthereportiscorrectandwithoutwaivingthe City's right toinvestigatethetruthoftherepresentationmadeinthereportatsomefuture date. Section 2,Thisresolutionshallbeeffectiveimmediatelyuponbeing approved. PASSEDANDADOPTEDthis 1_st dayof November ,2016. ATTEST:APPROVED: CITY CLERK READAND APPROyED ASTOFORM,COMMISSION VOTE:5_0 LAN^aS%-fcEC^|TY^ND Mayor Stoddard:Yea Vice Mayor Welsh:Yea Commissioner Harris:Yea Commissioner Liebman:Yea Commissioner Edmond:Yea («f )CITY OF SOUTH MIAMI South Mltimi office of the city manager THE CITY OF PLEASANT LIVING INTER-OFFICE MEMORANDUM To:TheHonorableMayor&Membersof the CityCommission From:Steven Alexander,CityManager Date:May 3,2016 AgendaItem No.:£AUJk {*) Subject: A Resolution relating to the review and acceptance of the AnnualHousingReport of the RRC 57 Avenue LLC [RedRoad Commons]. Background; TheCity Commission atitsApril 5,2005 meeting approved Ordinance No.12-05-1834 allowing foraPlannedUnit Development,Mixed-Useproject known asRedRoad Commons located at 6600-6640 SW 57th Avenue,tobe constructed that included upto 407 multi-family residential units,retailuses,office usesandaparking garage.Pursuant to Section12 of the Development Agreement between the City of South Miamiand RRC 57th Avenue LLC,executed March29, 2007,the developers legal counsel submitted their annual report on the Moderate Income Housing requirement of the agreement. Analysis: Pursuant to Section 2(f)of the Development Agreement, "A requirement of ten percent (10%)oftheunitswillrentto individuals or familiesinthe moderate income segment oftheaffordablehousinggroup.Ifthe residentialunitsconvertto condominiums,tenpercent (10%)of theunitswillbe sold toindividualsorfamiliesinthe moderate income segment of theaffordable housing group/' As listed on the attached Affordable HousingComplianceReport,390 units were rented as of December 31,2015.Of the 390units rented,41 were in compliance with Section2(f)of the Agreement.Furthermore,the incomesforthose41unitsranged between $39,920 and $59,880;which were between 80%and120%of the annual median income.In Fiscal Year2015, the UvS.Department of HousingandUrban Development determined that the areamedian income forMiami-DadeCountywas$49,900.Additionally,moderate income is defined as those that earn between 80%to120%of the annualmedian income.Afterreviewing the Affordable Housing Compliance Report,itwasfound that the Development isin compliance with the provision of Section 2(f)of the Agreement. Please refer to the additional detail contained in the report submitted by the owner's representative. Recommendation:> Staff recommends the MayorandCityCommission accept the attached 2015Annual Housing Report. i -O Bilzin Sumberg ATTORNEYS AT LAW FEB 18 2018 'tanning sncf Zoning •January 13,2016 JerryB.Proctor,Esq. Tel 305.350.2361 Fax 305.351.2250 jproctor@bilzin.com Via Hand Delivery Mr.Steven Alexander City Manager Cityof South Miami 6130 Sunset Drive South Miami,FL 33143 Re:"Red Road Commons" Property:6600 SW57 Avenue,South Miami,FL Housing Report Dear Mr.Alexander. Our firm represents the owners and operators of the "Red Road Commons"mixed use development at6600 SW 57Avenue(the "Property")in the City of South Miami, PursuanttotheDevelopmentAgreementbetweenthe City ofSouth Miami andRRC 57th Avenue,LLC,a copy of which is enclosed,a minimum often percent (10%)of the residential unitsontheProperty will renttoindividualsor families inthe Moderate Income Segment ofthe Affordable Housing Group.This requirement is contained in paragraph 2fon.page 3of the Development Agreement.1 Determinationofthe Moderate IncomeSegmentis made annuallythrough the provisionof theAreaMedianIncomefrom Miami-Dade County bytheUnited States Departmentof Housing andUrban Development.The area median incomeforMiami-DadeCountyis $49,900,as determined byU.S.HousingandUrbanDevelopmentinFiscalYear 2015.Moderateincomeis definedas those earningbetween80%to120%oftheannualmedianincome.Accordingly,the currentincomelevelperunittocomplywiththe10%requirement isbetween $39,920 per year and $59,880 peryear. Enclosed please findalistof the unitswhere the residents complywiththe Moderate Income Segment and,therefore,qualifytheunits as such pursuant tothe Development VI have also attached an "Amendment to Development Agreement,"recorded on March 25,2010,that did not amendthehousingcomponentofthe Development Agreement MIAMI 4877482.1 77430/27649 BILZIN SUMBERG BAENA PRICE &AXELROD LLP 1450 Brickell Avenue,23rdFloor,Miami,FL 33131-3456 Tel 305.374.7580 Fax 305.374.7593 www.bilzincom Steven Alexander. City of SouthMiami January 13,2016 Page 2 Agreement.Asof December 31,2015,390unitsin "Red Road Commons"were rented out; accordingly,the attached listofunits and incomescomplies with the 10%requirement. I trustthissubmittal complies with theannualhousingrequirementintheDevelopment Agreement.Please give meacallifyou have any questions. JBP:id Sincerely, <s Jerry &Proctor Maria Menendez,City Clerk,CityofSouth Miami (w/encl.) DwayneWilliams,PlanningDirector,City ofSouth Miami (w/encl.) Thomas Pepe,Esq.,City Attorney,City ofSouth Miami (w/encl.) GabrielFisher,PropertyManager,RedRoadCommons(w/encl.) Nazar Elwazir,Equity Residential (w/encl.) MIAMI 4877482.1 77430/27649 C5^V BILZIN SUMBERG BAENA PRICE &AXELRCD LLP 10 -11 12 13" 16 17' 18 19 20 _21 22 2.015 Metro Dade;l AMlasse'tbyH.UD j.$49.900..00 Moderate-Income f-80%\to;i20%of AMI" Definition as -set by.j or $39;920vto •:HUD"!••$5.9:880 ' Total number of Apartments leased asof December 31, 1015 Units in compliance ! per Development : Agreement ;• Apartment A-100 A-202 /V407 A-410 B-103 B--106 B-116 B-112 B-209 B-220 B-307 B-323 B-329 B-426 B-521 C-202 C-309 CM09 C-508 P-202 D-203 D-206 390 ,41 Unit Type" 1x1 1xi 2x2 2X2 2X2 1X1 2X2 1x1 2x2 2X2 2x2 2x2 1x1 1x1 1x1 2x2 1x1 1x1 2X2 2x2 2X2 2X2 Initial-: Certification: Date'-.•""*• 8/1/2015 5/25/2013 8/27/2014 8/8/2015 10/31/2015 12/5/2015 6/12/2015 .8/1/2015 6/27/2015 3/9/2015 9/16/2015 9/25/2015 8/18/2015 9/5/2012 8/28/2015 8/13/2014 7/16/2015 5/4/2014 8/26/2014 8/8/2013 8/25/2014 8/15/2014 Red^Road Commons A ffprdable;Housing.Compliance Report fphYear^'ding 20f5 Lease Expiration Bate •••:' 7/31/2016 7/24/2016 7/26/2016 8/7/2016 8/30/2016 10/4/2016 7/11/2016 7/31/2016 6/26/2016 7/8/2016 7/15/2016 8/26/2016 8/18/2016 6/30/2016 8/27/2016 8/12/2016 7/15/2016 7/3/2016 MTM MTM 7/24/2016 8/14/2016 Annua)Lease ¥Kfd>r":...:;:. •fnqQnle"?.-.•.'::• exceed/'.••."•' t$53;880 $50.124.00 $48,000.00 $48,000.00 $51,273.00 $55,896.00 $55,200.00 $51.300.00 $51.000.00 $51.000.00 $54t000.00i $48.000.00 $48,000.00 $41,800.00 $46.500.00 $49.500.00 $51,000.00 $59,367.00 $55.008.00 $49,448.00 $46,500.00 $48,000.00 $49,448.00 Income as '•; percentage.of .i.V: .2015HUD AMj f#: Miami 0ade.'•:•&:. Gaufity.-setattv- $4&;'90O by H13DS 5n<J"0{V2015-;/r".'- |Sh6ul&not'exceed #20%•:..:'"• 100% 96% 96% 103% 112% 111% 103% 102% 102% 107% 96% 97%% 84% 93% 99% 102% 119% 110% 99% 93% 96% 99% In .Gonip.lianeelof\ AMIbaseWo'rVthe Moderate-Incofrje-. a¥:define9;b>^liJP •Actual Lease •Rate $1.693.00 $1,721.00 $1.693.00 $1,693.00 $1.950,00 $1.450.00 $2,483.00 $1.693.00 $1.693.00 $2,445.00 $1.693.00 $2,295.00 $1.693.00 $2.301.00 $1.800.00 $1.693.00 $1,693.00 $1.785.00 $2.055.00 $2,179.00 $2.010.00 $1.693.00 23 D-301 2x2 8/19/2014 7/18/2016 $56,910.00 114%Y .$2,080.00 24 D-309 1x1 5/17/2013 7/16/2016 $46,500.00 93%Y $1,742.00 25 D-409 1x1 5/4/2014 MTM $48,000.00 96%Y $1,625.00 26 E-105 1X1 8/14/2015 8/13/2016 $57,600.00 116%Y $1,555.00 27 E-220 2x2 8/31/2015 8/30/2016 $56,910.00 114%Y $1,693.00 28 E-222 1x1 1/13/2015 8/12/2016 $51,800.00 104%Y $1,693.00 29 E-232 1x1 8/7/2015 8/6/2016 $48,000.00 96%.Y $1,693.00 30 E-305 2x2 8/20/2013 8/19/2016 $57,364.00 115%Y $1,902.00 31 E-317 1X1 8/15/2014 8/14/2016 $48,000.00 96%Y $1,610.00 32 E-332 1X1 8/28/2014 MTM $48,096.00 96%Y $1,659.00 33 E-405 2x2 9/4/2014 8/3/2016 $48,000.00 96%Y $1,693.00 34 E-407 1x1 8/15/2012 8/14/2016 $59,367.00 119%Y $1,693.00 35 E-409 .2X2 9/17/2015 7/16/2016 $51,273.00 103%Y $1,693.00 36 E-413 1x1 1/2/2015 1/1/2016 $48,000.00 96%Y $1,354.00 37 E-417..1x1 8/28/2011 MTM $48,000.00 96%Y $1,354.00 38 E-421 1X1 3/5/2014 7/4/2016 $56,910.00 114%Y $1,920.00 39 F-101 1x1 8/23/2013 7/21/2016 $59,367.00 119%Y $1,693.00 40 F-103 1x1 8/27/2015 7/26/2016 $56,587.00 113%Y $1,693.00 41 F-104 1x1 9/28/2013 10/27/2016 $51,800.00 104%Y $1,693.00 0% General Notes: HUT)Definition *People with incomes between 80and120 percent of theAMIare moderate income." *State of the Housing Counseling Industry,US Department of Housing and Urban-Development,Office of Policy Development and Research,2008 Report (September 2008) *http://www.huduser-org/Publications/PDF/hsg_counsel.pdf ._. Development Agreement 41 !.i. "2f-Housing-A "requirement often percent (10%)ofthe "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%)ofthe units will besoldto individuals or families inthe moderate income segmentofthe affordable housing group.In analyzing compliance with this paragraph,the City shall allow minor deviations resulting from short term vacancies.Incomes shall be based on Area Median Income (AMI)as defined bythe U.S.Department of Housing and Urban Development. Proof ofcompliance with this requirement onan annual basts shall be provided in writing onorbefore January 15 of the following year to the City Manager. 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