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04-21-09 Item 2eTo: Via: From: Date: Subject: South Miami NI AmericaCKY CITY OF SOUTH MIAMI 1 I I ®' OFFICE OF THE CITY MANAGER INTER - OFFICE MEMORANDUM 2001 The Honorable Mayor Feliu and Members of the City Commission Ajibola Balogun, City Manager Thomas J. Vageline, Planning Directo (* April 21, 2009 Red Road Commons Property Taxes ITEM NO. Pursuant to a discussion at the Commission Meeting of April 7, 2009 regarding the ownership of the project Red Road Commons, a question was posed as to the potential impact of a change in ownership if the University of Miami were to purchase the project. The concern focused on the issue of property taxes. Following research into the tax status of properties owned by the University of Miami, it was found that the majority of the property owned by the University of Miami Real Estate Office including the main campus in Coral Gables and outlying parcels in the City of Miami and unincorporated Miami -Dade County have a taxable value of zero (See attached Exhibit A: Property Appraiser's office data). To determine the approximate taxable revenue of the Red Road Commons project to the City of South Miami, under its present ownership, the project is compared to an existing apartment project in South Miami. The existing apartment project is Sunset Club Apartments located at 6265 Sunset Drive. There are 126 apartment units, built in 1964, with a taxable value of $7,180,541.00. City of South Miami tax revenue from this project in 2008 was $37,906.08 (See Exhibit B: page 3). If the taxes paid to the City are divided by the number of apartment units the result is approximately $301.00 of tax revenue received by the City from each apartment unit for 2008. Red Road Commons has over 400 apartments and some retail space. At this time the taxable value of the completed Red Road Commons project is unknown. However, if the tax revenue rate per apartment were applied from the Sunset Club Apartment example at $301.00 per apartment, the tax revenue to the City would be approximately $ 120,400.00 annually. If Red Road Commons were to be purchased by the University of Miami Real Estate Office and the taxable value formula of the properties owned by the University were applied as in Exhibit A (exempt), the expected tax revenue to the City could be zero. However, the development agreement for Red Road Commons includes the requirement of the property owner to pay the City an amount equal to the operating millage taxes should the property owner receive an exemption (See Exhibit C: memo from Jerry Proctor, and Exhibit D: copy of recorded agreement). Attachments: Exhibit A, Exhibit Memo from Jerry Proctor dated 411612009 Red Road Development Agreement TJV /SAY X: \Comm Items\2009 \4 -21 -09 \Red Rd Commons Property Tax Topic Miami -Dade My Home My Home ri_, I s " Show Me: Property Information ± Search By: Select Item Text only Property Appraiser Tax Estimator Summary Details: Folio No.: 3- 4130 - 015 -0030 Property: 5202 UNIVERSITY DR Mailing UNIVERSITY OF MIAMI Address: INS & R E OFF Beds /Baths: PO BOX 248106 CORAL Floors: GABLES FL Livina Units: 33124- Pronertv Information: Primary Zone: 8600 CIVIC AND 2007 CONVENTION CENTER CLUC: 0041 EDUCATIONAL - Building Value: PRIVATE Beds /Baths: 0/0 Floors: 1 Livina Units: 0 d' Sq Footage: 129,411 Lot Size: 4 ACRES Year Built: 1950 MAIN CAMPUS UNIVERSITY MIAMI MD PB 46 -81 TRACT 2 LESS DESC BEG NE Legal COR OF TR S TH NWLY Description: D 530FT SWLY AD 78.03FT SWLYSELY AD 38.37FT S 14 DEG E 36FT SELY Sale Information: Sale O /R: Sale Date: 0/0 Sale Amount: 0 Assessment Information: Year: 2008 2007 Land Value: 18,391,118 $18,391,118 Building Value: $17,666,788 $17,666,788 Market Value: $36,057,906 36,057,906 Assessed Value: 36,057,906 $36,057,906 Taxable Value Information: Year: 2008 2007 `I• Applied Applied Taxing Exemption/ Exemption/ Authority: Taxable Taxable Value: Value: $36,057,9061 $36,057,9061 Page 1 of 2 45*ANT�k N +r, �_® ik Digital Orthophotography - 2007 0 326 ft My Home I Property Information I Proper Taxes I My Neighborhood I Property Appraiser Home I Using Our Site I About I Phone Directory I Privacy I Disclaimer If you experience technical difficulties with the Property Information application, or wish to send us your comments, questions or suggestions please email us at Webmaster. Web Site A I tq © 2002 Miami -Dade County. `I• All rights reserved. 1 \ ct4 4VVk-.-, Cl) http: / /gisims2. miamidade .gov /myhome /propmap.asp 4/15/2009 Miami -Dade My Home Additional Information: Community $0 $0 County: 36,057,906 36,057,906 Community $0 $0 City: 36,057,906 36,057,906 Empowerment $0 $0 School Board: $36,057,9061 $36,057,9061 Land Use: $0 1 $0 Additional Information: Community Development NONE District: Community Redevelopment NONE Area: Empowerment NONE Zone: Enterprise Zone: NONE Land Use: INSTITUTIONAL INSIDE URBAN Urban DEVELOPMENT Development: BOUNDARY UDB onin : S SPECIAL USE Non -Ad Valorem Get Info ssessments: exo�vl--A Page 2 of 2 d http: / /gisims2. miamidade .gov /myhome /propmap.asp 4/15/2009 Miami -Dade My Home i*_t Page 1 of 2 My Home • / • Show Me: Property Information y Search By: Select Item Text only Property Appraiser Tax Estimator Summary Details: Folio No.: 14104- 010 -0010 Property: 705 SW 3 ST Mailing UNIVERSITY OF MIAMI Address: % INSURANCE & REAL Beds /Baths: ESTATE Floors: PO BOX 248106 CORAL Living Units: GABLES FL Adj Sq Footage: 33124- Propertv Information: Primary Zone: 6100 RESTRICTED 1COMMERCIAL 2007 Land Value: CLUC: 0041 EDUCATIONAL - Building Value: PRIVATE Beds /Baths: 0/0 Floors: 3,31,113,897 12,687 Living Units: 0 Adj Sq Footage: 16,809 Lot Size: 73,293 SQ FT Year Built: 1929 1 $0 54 41 1.69 AC THE Legal KOUBEK TRACT PB 42- Description: 36 TRACT A LESS E5FT $0 LOT SIZE IRREGULAR Sale Information: Sale O /R: Sale Date: 0/0 Sale Amount: 0 Assessment Information: Year: 2008 2007 Land Value: 2,785,134 2,198,790 Building Value: $1,130,996$ Exemption/ Market Value: $3,916,130 3,31,113,897 12,687 Assessed Value: $3,916,130 3,312,687 Taxable Value Information: Year: 2008 2007 Applied Applied Taxing Authority: Exemption/ Exemption/ Taxable Taxable Value: Value: Regional: $3,916,130/ $3,312,687/ $0 1 $0 County: $3,916,130/ $3,312,687/ $0 $0 Z �n r rc: SW 2ND ST i - .. H } 1 Digital Ortiophotography - 2007 N * (4 q a NAA ®-0 1 R' —T-11 ,ur f .t, �,. �. Ti , i 0 31 ft My Home I Prop_erW Informat*n I Property Taxe; I My Neighborhood Prose Appraiser Horme I Using Our Site I Abou I Phone D rectory I Privacy I Disclalmer If you experience technical difficulties with the Property Informa_ ion applicatios, or wish to send us your comments, questions or suggestions please email u: atlRebmaster. Wet Site © 2002 Miami -Dade County. ► �i All rights reser,Pd. a � -r 1 r http://gisims2.miamidade.gov/myhome. /proomap.asp i a 4,15/2009 S7 -_ 0 31 ft My Home I Prop_erW Informat*n I Property Taxe; I My Neighborhood Prose Appraiser Horme I Using Our Site I Abou I Phone D rectory I Privacy I Disclalmer If you experience technical difficulties with the Property Informa_ ion applicatios, or wish to send us your comments, questions or suggestions please email u: atlRebmaster. Wet Site © 2002 Miami -Dade County. ► �i All rights reser,Pd. a � -r 1 r http://gisims2.miamidade.gov/myhome. /proomap.asp i a 4,15/2009 Miami -Dade My Home - - Page 2 of 2 L;j-?<W ro zfi A- Gity: -- $O -- -- School Board: Board: $3,916,130/ $3,312,687/ $0 $0 Additional Information: Community Development NONE District: Community Redevelopment NONE Area: Empowerment NONE Zone: Enterprise Zone: CENTRAL Land Use: INSTITUTIONAL INSIDE URBAN Urban DEVELOPMENT Development: BOUNDARY UDB G/I GOVERNMENT & Zoning: INSTITUTIONS Non -Ad Valorem Get Info Assessments: EN http: / /gisims2. miamidade .gov /myhome /propmap.asp 4/15/2009 Miami -Dade My Home Page i of 2 L5X OA:D M_ A— My Home Show Me: Property Information Search By: Select Item Text only Property Appraiser Tax Estimator Summary Details: Folio No.: 304220- 000 -0030 Property: ICKENBACKER $277,913 CSC Mailing UNIVERSITY OF MIAMI Address: /o REAL ESTATE OFFICE Living Units: P 0 BOX 248106 CORAL d' Sq Footage: GABLES FL Lot Size: 33124- Prooertv Information: Prima Zone: 8900 UNZONED CLUC: 0041 EDUCATIONAL - $277,913 PRIVATE Beds /Baths: 0/0 Floors: 3 Living Units: 3 d' Sq Footage: 290,877 Lot Size: 6 ACRES Year Built: 1968 0 54 42 6.38 AC M/L COMM AT NE COR OF SEC 20 SWLY1882.29FT OXC /L Legal RICKENBACKER Description: CAUSEWAY TH SWLY295.57FT M/L FOR A POB TH SWLY40OFT TH SWLY100FT TH ALG RC Ggital Ortiophotography - 2007 0 - -88ft My Home I Property Information I Properly Taxes IMy Neighborhood Property Appraiser Hone I Using Our Site I About I Ph me Directory I Privacy I Disdaimer Sale Information: Sale O /R: Sale Date: 0/0 Sale Amount: $0 f you experience technical difficulties with the Property Information 3pplicatior, or wish to send us your commints, questions or suggestiois Assessment Information: please email us atwebmaster. Year: 2008 2007 Land Value: $277,913 $277,913 Building Value: $25,607,844 $22,470,929 Market Value: 25,885,757 $22,748,842 Assessed Value: $25,885,757 22,748,842 Web Site © 2002 Miami -Dade County. All rights reserved. Taxable Value Information: Ian Year: 2008 1 2007 Applied Applied Taxing Exemption/ Exemption/ Authority: Taxable Taxable yyl**'P' V{�l,lY1C0Y, 0,0W N http: / /gisims2.miamidade .goy /myhorme /pro-3map.asp 4i15/2009 Miami -Dade My Home � � Page 2 of 2 1 1 VAl11P' 1 VAMP.' 1 Additional Information: Community $25,885,757 $22,748,842 Regional: $0 $0 County: $25,885,757 $22,748,842 NONE $0 $0 School Board: $25,885,7571$22,748,8421 Zone: $0 $0 Additional Information: Community Development NONE District: Community Redevelopment NONE Area: Empowerment NONE Zone: Enterprise Zone: NONE Land Use: INSTITUTIONAL Urban INSIDE URBAN Development: DEVELOPMENT BOUNDARY UDB GU INTERIM Zoning: DISTRICT Non -Ad Valorem et Info Assessments: 010 http: / /gisims2. miamidade .gov /myhome /propmap.asp 4/15/2009 Miami -Dade My Home 16) Pi:ge 1 of 2 My Home 5DWID11roM tb ..V Show Me: Property Information Search By: Select Item Text only Property Appraiser Tax Estimator Summary Details: Folio No.: 09 -4025- 000 -0470 Pro a 265 SUNSET DR Mailing SUNSET CLUB Address: LTD Beds /Baths: ED LASHINS INC Floors: 80 BUSINESS PARK DR Living Units: RMONK NY d' Sq Footage: 10504- Prooertv Information: Primary Zone: 3800 MULTI - FAMILY 2007 RESIDENTIAL CLUC: 0003 MULTIFAMILY- Building Value: APARTMENTS Beds /Baths: 126/126 Floors: 3 Living Units: 126 d' Sq Footage: 89,170 Lot Size: 4 ACRES Year Built: 1964 5 54 40 4.03 AC W1/2 OF SE1 /4 OF SE1 /4 OF SW1 /4 LESS W6FT & Legal LESS N150FT OF Description: E137FT & LESS S50FT FOR R/W LOT SIZE 175111 SQUARE FEET OR 17469 - 0805 -0824 111965 Sale Information: Sale O /R: Sale Date: /1976 Sale Amount: $1 Assessment Information: Year: 2008 2007 Land Value: $2,889,332 $2,889,332 Building Value: $4,291,209$4,291,209 Exemption/ Market Value: $7,180,541 $7,180,541 Assessed Value: $7,180,541 $7,180,541 Taxable Value Information: Year: 2008 2007 Applied Applied Taxing Authority: Exemption/ Exemption/ Taxable Taxable Value: Value: ACTIJE TOOL= 3EILECT a� x v� >" M_ ... , ;.w -1r+0 sr ri Digtal Orthoph-3-og -aphy - 2007 N * (4 C�4aC� el IAMB g.r 69 -H. gT ,r YT } a i ) 7 s AMP .gym'' ltsr,�• -= �' , �.rr. _, � Ki v, l 4 r.: cc � ti 0 - 161 ft Fvy Home I Property Informaticr I Pr3perty Taxes I My Neighborhood I Prop ty Appraiser Home I -sir g Our Site I About I Phone Diracto1y j Privacy I Disclaime. If iou experience technical difficulties with the 3roperty Information ar plication, or w sh to send us your comments, c t esti.rs or suggestions pI.... email us at WEt master . O)WT,01 http://gisims2.miamidade.gov/myhomF-/propmL-).LSP Web Site © 2002 Miami -Dade :ound7 All rights reserv-34. 4 4,15/22009 C� Miami -Dade My Home Regional: $0/ $7,180,541 $0/ $7,180,541 County: $0/ $7,180,541 $0/ $7,180,541 City: $0/ $0/ $7,180,541 $7,180,541 School Board: $0/ $7,180,541 $0/ $7,180,541 Additional Information: i Development District 1 Redevelopment Area lent Zone Zone Development Boundary Valorem Assessments Page 2 of 2 Oz http: / /gisims2. miamidade .gov /myhome /propmap.asp 4/15/2009 Miami -Dade County. Real Estate Tax Information Page 1 of 1 Show Me: Property Taxes Search By: Select Item Detail Tax Information: Real Estate Tax Info 2008 Taxes Prior Years Taxes Due 2008 Ad Valorem 2008 Non -Ad Valorem 2008 Back Assessments 2008 Enterprise Folio 2008 Historical Abatements 2009 Quarterly Payments 2008 Taxes Today's Date: 04/15/2009 Last Update: 04/13/2009 Year: 2008 Folio Number: 09 40250000470 SOUTH MIAMI Owner's Name: SUNSET CLUB APARTMENTS LTD % ED LASHINS INC Property Address: 6265 SUNSET DR Total Value : 7180541 Millage Code: 0900 Exemptions: None Ad Valorem Taxes by Millage Authority: Taxing Taxes Authority Millage rate per $1,000 of Taxable Value Levied 2008 Tax SCHOOL BOARD OPERATING Notice /Memorandum SCHOOL BOARD DEBT SERVICE FLORIDA INLAND NAVIGATION DISTRICT SOUTH FLORIDA WATER MGMT DISTRICT EVERGLADES CONSTRUCTION PROJECT CHILDRENS TRUST AUTHORITY COUNTY WIDE OPERATING COUNTY WIDE DEBT SERVICE LIBRARY DISTRICT FIRE RESCUE OPERATING FIRE RESCUE DEBT SERVICE CITY OF SOUTH MIAMI OPERATING 7.53300 7180541 54091.02 .26400 7180541 1895.66 .03450 7180541 247.73 Conta, f mia (30 Dow 140 F Miar Soutt 1071 F Miar Of 1 8:00 .53460 7180541 3838.72 Rel .08940 7180541 641.94 Tz .42120 7180541 3024.44 Prop 4.83790 7180541 34738.74 Florid R .28500 7180541 2046.45 .38220 7180541 2744.40 2.18510 7180541 15690.20 .04200 7180541 301.58 5.27900 7180541 37906.08 Amounts due are subject to change without notice. Property Tax Home I Real Estate Tax Info 12008 Taxes I Prior Years 12008 Non -Ad _V 2008 Back Assessments 12008 Enterprise Folio 12008 Historical Abatements 12009 Cuarterl, 2008 Tax Notice /Memorandum Miami -Dade Home I Using Our Site I About I Phone Directory I Privacy I Disclain © 2002 Miami -Dade County. All rights reserved. E -mail your comments, questions and suggestions to Webmaster 101 http: / /egvsys.miamidade.gov: 1608 /wwwserv/ggvt /txcaw09.dia ?folio= 0940250000470 4/15/2009 )�TxlkBiT G MEMORANDUM TO: Thomas Vageline, Planning Director, City of South Miami FROM: Jerry B. Proctor, E RE: Red Road Commons /Un ersity of Miami DATE: April 16, 2009 Bilzin Sumberg You have asked for analysis of the tax implications if the University of Miami (the "University ") were to ever purchase the property on Red Road in the City containing the mixed -use development known as "Red Road Commons ". As you know, Clause 3 in the Development Agreement between RRC 57th Avenue, LLC and the City of South Miami states: 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 appeals of Tax Assessments for the Property, in accordance with the laws of Miami -Dade County. In addition, please note that pursuant to Section 196.198, Florida Statutes, "educational institutions within the State and their property used by them or by any exempt entity or educational institution exclusively for educational purposes shall be exempt from taxation ". (Emphasis added). Section 196.198 also states that "Property owned by an educational institution shall be deemed to be used for an educational purpose if the institution has taken affirmative steps to prepare the property for educational use. Affirmative steps means environmental or land use permitting activities, creation of architectural plans or schematic drawings, land clearing or site preparation, construction or renovation activities, or other similar activities that demonstrate commitment of the property to an educational use ". I hope that this information is helpful. cc: Jay Jacobson Luis Figueredo, Esq., City Attorney, City of South Miami MIAMI 1788466.1 7743027649 4/16/09 �F)<6� 15 IT r? *-his instrument prepared under the supervision: and when recorded return to: Jerry B. Proctor, Esq. Bil7bi Sumberg Baena Price & Axelrod LLP 200 South Biscayne Boulevard Suite 2500 Nitianu, Florida 33133-2336 DEVELOPMENT AGREEMENT CFN 200780328886 OR Bk 25446 P9s 0052 - 72; (21pss) RECORDED 03/30/2007 15102231 HARVEY RUVINr CLERK OF COURT MIAMI -DADE COUNTYr FLORIDA (Space Reserved for Clerk) This Development Agreement is made as of this day of�aY 2007, by and between The Citv of South Miami, Florida, a municipal corporation ( "City ") and RRC 57`h Avenue, LLC ( "Applicant "). Applicant hereby voluntarily makes, declares, and imposes on the property described below, this agreement running with the title to the land, which shall be binding on and shall inure to the benefit of the Applicant, successors and assigns, mortgagees, lessees, and against all persons claiminu by, through, or under them until such time as this Development Agreement ("Development Agreement ") is released in writing as hereinafter provided; 13'HEREAS, Applicant owns the property in the City, in Miami -Dade County, Florida, legally described on Exhibit "A ", also known as 6600 -6640 S.W. 57 Avenue and 5757 SW 68 Street (tile "Property "), and bGHF-REAS; oil July 22, 2004 Applicant filed an application with the City to rezone the Property from TODD (ML: -4) (Transit Oriented Development District) to PUD -M (Planned Unit Development -Mixed Use), and to obtain site plan approval (the "Application "), and 1.3HEKE�tS, 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 aareemems to insure that the law in efi:ect at the time of the execution of the development. agreement shall govern the development of the land for the duration of the agreement. .Noff! THEREFORE, in consideration of the covenants, conditions, and promises herein contained, the receipt and sufficiency of which are expressly acknowledged, Applicant and the City hereby agree as follows: 141AM1 519310.13 7326021531 1Jru7 1. Permitted Uses Densities. and _ Intensities. Pursuant to the provisions of Chapter 20, Land Development Regulations of the City of South Miami, the Property will be improved with the following: a. There shall be no more than .407 residential units on the Property. b. The Property shall also be developed with retail space and a leasing office. C. Development on the Property shall not exceed five (5) stories above grade, in height. d. Development of the Property shall be in accordance with the adopted master site plan on file at the City, including elevations, architectural features, and estimated commercial square footage pursuant to Section 20.3 -7, City Code. e. Development of the Property shall be in one (1) phase. f. A building permit for development of the project must be applied for within 6 months of the date on which this final development agreement is signed, notwithstanding the provisions of LDC Section 20- 3.7(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 204.1 of tlh.e Code of the City of South Miami, including: a. Water and Sewer services that comply with all requirements of Miami -Dade County for any building prior to issuance of a final Certificate of Use and Occupancy. b. Solid Waste services that comply with all requirements of Miami Dade County for any building prior to issuance of a final Certificate of Use and Occupancy. C. Drainage services that comply with all requirements of the Florida Building Code prior to the occupancy of any buildings. d. Based on the projected residential population on the Property, Applicant agrees to donate $928,000 in one lump sum as its responsibility for meeting park and recreation concurrency. Payment shall be made on or before receipt of the first building permit and shall include any interest or carrying cost incurred by the City until receipt of the payment. Interest calculations are indicated on attached Exhibit "B ", incorporated herein by reference. e. Traffic - Applicant will obtain necessary governmental approvals, and cause to have placed and operational a separate left -turn, northbound entrance lane on Red Road (SW 57 Avenue) into the northernmost proposed driveway on Red Road on the Property, prior to the occupancy of any buildings on the Property. In addition, Applicant will present plans within two (2) years after the recording of this 14 ANC 819310.15 7326021531 2 3/29/07 Development Agreement to governmental authorities, including the Florida Department of Transportation, for beautification of the median area to consist of curb and gutter improvements and landscaping in the center of Red Road (SW 57 Avenue) , directly south of the intersection of Red Road and Ponce de Leon Boulevard. Subject to approval of necessary permits by governmental authorities, Applicant will pay for and construct the beautification improvements. C 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 the affordable housing group. in analyzing compliance with this paragraph, the City shall allow minor deviations resulting from short-term vacancies. Incomes shall be based on Area Median Income (.AMI), as defined by the U.S. Deparrinent of Housing and Urban Development. Proof of Compliance with this requirement on an annual basis shall be provided in writing on or before January 15 of the following year to the City .Manager. In addition, the Applicant shall make a payment of $100,000 to the City on or before the issuance of the first certificate of use and occupancy for the development on the Property, to be placed in a City trust fiord to assist in the development of low income housing in the City's Comn:iunity Redevelopment Agency area. 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 Mianni -Dade County, the Property Owner shall contribute an amount equal to the Operating Millage Taxes to the City of South Miami in any year that such exemption is granted. This provision shall not abrogate any of the Property Owner's rights to file appeals of Tax Assessments for the Property, in accordance with the laws of Miami -Dade County. 4. Work Force: In an effort to enhance job opportunities for local citizens; Applicant agrees to give a preference to job applicants residing in South Miami. In order to maximize the pool of applicants from South Miami, the Applicant shall send notice to the Community Redevelopment Agency Director of the City of South Miami, or a substitute designee by the City Manager, prior to or concurrent with the issuance of any (1) bids for construction work on the Property, (') bids for temporary or permanent maintenance work on the Property, or (3) proposals for leasing of retail space on the Property. In regard to recruitment and employment, the Applicant shall demonstrate that it has used its best efforts to hire job applicants from the City of South Miami, provided such candidates are qualified for the positions in question. In addition, the Applicant shall hire two residents from the CRA district to assist the Applicant in providing construction services during the period of construction and development of the Property. Payment for the positions shall be at Applicant's sole expense and shall be commensurate with similar job levels and responsibilities in comparable industries. MI.ah11 819310.15 7326021531 3 3/29/07 Site Plan. a. Applicant shall retain stormwater drainage runoff on site in accordance with City regulations. b. Applicant shall provide on site security. As part of on site security to be provided by the Applicant, the Applicant shall monitor and keep operable the security gate to the proposed parking garage and make arrangements to assure emergency access by public safety vehicles. C. The entrance at Levante Ave. shall be signalized and approaches installed based on approval by Miami -Dade County and the State of Florida Department of Transportation. d. The exit for the driveway onto Stiff' 66 Street shall be designed and operated as a right turn out only driveway. The exit shall be closed with a gate to prevent tarn out between the hours of 7:00 A.M. and 10:00 A.M., Monday through Friday. e. Applicant shall provide a minimum of one (1) stop location on site for service by the HurrvCane shuttle. The shuttle stop locations shall not interfere with SW 57'I' Avenue traffic. All Hum Cane shuttle passenger pick -ups shall be coordinated with the City of South Miami shuttle pick -ups to minimize traffic impacts. Applicant shall provide and maintain landscaping acceptable to the City between the FPL facility and the garage. The applicant must provide a row of 12' high trees with trunk circumferences not less than 6 inches on the City's property between the FPL facility and the South Miami Community Center. The row of trees to be located on the City's property between the FPI, facility and the South Miami Community Center shall be uniform in appearance and consist of not less than 25 trees in the row. V. Applicant shall provide and maintain a six -foot high CBS wall between the project and the remaining service station. h. Employee parking shall be restricted to the garage and it shall be the developer's or his assign's responsibility to submit with each occupational license proof that employees are utilizing the assigned parking. i. Applicant shall provide a master signage plan for project identification, traffic, routing, final retail stores prior to nal project approval by the Environmental Review and Preservation Board (ERPB). j. Applicant shall limit on site lighting property edges to 2 foot - candles of intensity at an 18 inch height. Within six months of project completion the applicant is to provide a certified report on the mandated illumination level. k. Applicant is to assure that the refuse service areas shall be large enough to accommodate adequate dumpsters. The final number and dimensions of service IM I AMI S 19 =10-1; -3 26021 S31 4 3129.'07 areas shall be mandated by the Environmental Review and Preservation Board (ERPB) at final approval stage and adopted and incorporated as an exhibit to the Development Agreement prior to final approval of the Development Agreement. 1. All parking and street improvements placed on the public right -of -way on SW 57 Avenue by the Applicant shall be maintained with funds from a maintenance bond to be posted prior to permit issuance in accordance with rules of the Florida Department of Transportation. Proof of posting of the bond shall be provided to the City. 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 shall 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 tesidenti.al building. P. Applicant and the City shall agree on the, number of locations of the loading zones prior to the final approval of the Development Agreement. The dimensions and locations of the loading zones shall be attached as an exhibit to the Development Agreement. q. Applicant understands and agrees that the City may eliminate the on- street parking spaces located on SW 66 Street. r. Applicant shall provide 1,001 parking spaces [which may be reduced in accordance with Condition #5q, requiring removal of on- street parking on SW 66 Street], through a combination of parking garage, a small surface lot, and on -site street parking. S. The Applicant will commit to participate in a joint working group with the First Methodist Church of South Miami and municipal, county and state agencies to devise a plan mutually agreeable to Applicant and the First United Methodist Church of South Miami, for pedestrian improvements and beautification for Red Road. Applicant will contribute the construction cost of specific pedestrian enhancements agreed upon by Applicant and the First United Methodist Church of South Miami. The Applicant will present plans for traffic pen-nits indicating travel lanes of 10.5 feet on Red Road (SW 57 Avenue) and, if approved, will create an enhanced "landing zone" for pedestrians in the center of Red Road betNveen the Property and the First. United Methodist Church to the east, subject to the approval of Miami -Dade County and the State of Florida Department of Transportation. 111 AM 18 19310. 1 7132602 1531 3121'()' t. The Applicant shall not exceed a noise level equal to the ambient background level at 10:00 P.M. at a location adjacent to the Property to be selected by the Planning Director; said location may change from time to time. U. The Applicant shalt 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 County School Board ( "School Board "), to be specifically earmarked for capital improvements at public schools located in the City. The Applicant's donation shall be paid upon the issuance of a Certificate of Use and Occupancy for the first residential unit on the Property. Decisions shall be made jointly by the City and School Board, and funds must be spent within two (2) years of the donation. In the event that'no capital improvements can be identified or agreed upon for the expenditure of the funds within the two year period, the Applicant's donation may be utilized to fund programs, purchase materials (such as additional computers) or in any manner that the School Board and the City 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 Agreement and hereby incorporated by reference. 7. Unity of Title. Applicant shall submit a Unity of Title, pursuant to the requirements of Section 20- 3.7(B)(1.), City Code. NOW THEREFORE, the City, in consideration of the premises, hereby agrees as follows: 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 do«mzoning 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 pen-nit, condition, term or restriction shall not relieve the Applicant of the necessity of complying with the law govemin.g said pemii.tti.ng requirements, conditions, terms or restrictions. Impact Fees. The Property shall not be subject to any new impact fees imposed by the City after the adoption of the Resolution approving this Development Agreement. M [AM 18 19310.15 7.26021531 6 1`29,'07 10. Concurrency and Consistency. The Application together with the Applicant's performance under the Development. Agreement satisfies the concunency requirements, as delineated in Section 20 -4.1, City Code. By execution of this Agreement, th.e City acknowledges that the application for site plan approval meets all concurrency regulations enumerated in Section 20 -4.1 of the City Code, and that the rezoning and site plan application and this Agreement are consistent with the City Comprehensive Plan and Land Development Regulations. Additional Requirements: 11. Term of AAc.1reement. 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 Report and Review. It shall be the responsibility of Applicant to submit an annual report to the City sufficient to fulhll 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, shall submit an annual report at least 30 days prior to the annual review date. This report shall contain a section -by- section listing of what 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 15 -day notice period to begin to cure the non - compliance, after which the Agreement may be revoked or modified by the City. The obligation to submit an annual report shall conclude upon the date on which the agreement is 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 the regulations for amendment to PUD -M development contained in Chapter 20 of the City Land Development Code. 14. Enforcement. The City, its successor or assigns, and the Applicant, its successors and assigns, shall have the right to enforce the provisions of this Development Agreement. Enforcement shall be by action at law or in equity against any parties or persons violating or attempting to violate any covenants, either to restrain violation or to recover damages or both. The prevailing party in the action or suit shall be entitled to recover, in addition to costs and MIAMI 519310.15 7326021531 3,"-)9!()-,' disbursements allowed by law, such sum as the court- may adjudge to be reasonable for the services of its attorney. Attorney's fees payable under this paragraph shall not exceed 25% of the judgment. 15. Inspection. Nothing in this Agreement shall be construed to waive or limit the City's governmental authority as a municipal corporation and political subdivision of the State of Florida. The Applicant, therefore understands and agrees that any official inspector of the City of South Miami, or its agents duly authorized, may have the privilege at any time during normal working hours of entering and irivestigating the use of the premises to determine .whether the Property complies with building and zoning regulations and the conditions herein. 16. Authorization to Witlihold 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 refuse to grant any inspections, any approvals, or any certificates of occupancy with regard to that portion of the Property until such time this Development Agreement is complied with. 1 ?. Representations of the Applicant. Applicant represents to the City as follows: a. "the execution, delivery and perfonnance of this Agreement and all other instruments and agreements executed in connection with this Agreement have been properly authorized by the Applicant and do not require further approval by Applicant. b. This Agreement has been properly executed, and constitutes Applicant's legal, valid and binding obligations, enforceable against Applicant in accordance with its t.emis. c. There are no actions, suits or proceedings pending or threatened against or affecting Applicant before any court or governmental agency that would in any material way affect Applicant's ability to perform this Agreement. d. Applicant shall not act in any way whatsoever, directly or indirectly, to cause this Agreement to be amended, modified, canceled or terminated, except pursuant to its express terns, and shall take all actions necessary to ensure that this Agreement shall remain in full force and effect at all times. Applicant has the financial capacity to pay or advance in the City all fees and payments as required under this Agreement. 18. Severabilitv. If any provision of this Development Agreement or the application thereof to any person or circumstances is held invalid, prohibited, or unenforceable for any reason, this the Development Agreement shall be M) ANt 1 819: ► 0.15 732602153 ► 3/29. cn ineffective only to such extent and the remaining provisions shall continue to be given full force and effect so far as possible. 19. Joint Preparation.. This Agreement has been drafted with the participation of the City and Applicant and their counsel, and shall be construed against the Applicant in issues of draftsmanship. The captions of each article, section and subsection contained in this Agreement are for ease of reference only and shall not affect the interpretational meaning of this Agreement. Whenever the 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. Captions and Headings. Paragraph headings are for convenience only and shall not be used to construe or interpret this Agreement. 22. Applicable Laws Jurisdiction. and Venue. This Agreement shall be governed by and interpreted, construed, and enforced in accordance with the internal laws of Florida without regard to principles of conflicts of 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 Cite: City Manager City of South Miami 6130 Sunset Drive South Miami, Fl. 33143 Cop), to: Planning Director Planning and Community Development, Department City of South Miami 6130 Sunset Drive South Miami, Ft. 33143 MIAMI 819310.15 7320021531 3%29/07 For the Applicant: Irma Abella, Esq. General Counsel's Office University of Miami 1320 South Dixie Highway, Suite 150 Coral Gables, Fl. 33125 Copy to: ,terry B. Proctor, Esq. Bilzin Sumberg Baena Price & Axelrod LLP 200 So. Biscayne Boulevard, Suite 2500 Miami, Ft. 33131 24. Waivers. No failure or delay by Applicant or the City to insist upon the strict performance of any covenant, agreement, term or condition of this Agreement, or to exercise any right or remedy consequent upon the breach thereof, shall constitute a waiver of any such breach or any subsequent breach of such covenant, agreement, term or condition. No covenant, agreement, term, or condition of this Agreement and no breach, thereof shall be waived, altered or modified except by written instrument. Into waiver of anv breach shall affect or alter this Agreement, but each and every covenant, agreement, term and condition of this Agreement shall continue in full force and effect with respect to any other then existing or subsequent breach thereof. ?5. Third Party Beneficiary. This Agreement is exclusively for the benefit of the parties hereto and their Affiliates and it may not be enforced by any party other than the parties to this Agreement and shall not give rise to liability to any third party other than the authorized successors and assigns of the parties hereto. 26. Survival. Any covenant, terns 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. 2_7. Periods of Time. Whenever any determination is to be made or action is to be taken on a date specified in this Agreement, if such date shall fall on a Saturday, Sunday or legal holiday, then in such event said date shall be extended to the next day which is not a Saturday, Sunday or legal holiday. 28. Entire Aereernent. This A <; reement 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 819310.15 7326021531 10 3129/071 discussions, negotiations, .possible and alleged agreements and representations, covenants and warranties with respect to the subject matter hereof, are waived, merged herein and superseded hereby. Each party affirmatively represents that no promises have been made to that party that are not contained in this Agreement, and the Exhibits, and stipulates that no evidence of any promises not contained in this Agreement, and the Exhibits, shall be admitted into evidence on its behalf. This Agreement shall not be supplemented, amended or modified by -any course of dealing, course of performance or uses of trade and may only be amended or modified by a written instrument duly executed by officers of both parties. 29. Counterparts. This Agreement may be executed (including by facsimile) in one or more counterparts, and by the different parties hereto in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. 30. Recordation. Within 20 days after the Development Agreement has been signed by both the Applicant and the City, the Applicant shall . cause a copy of the Development Agreement to be recorded at the Applicant's expense in the registry of deeds in Miami -Dade County. 31. Exhibits. All exhibits attached hereto contain additional terms of this .Agreement and are incorporated herein by reference. 32. Effectiveness. This Development Agreement shall become effective after the approval of the applications for rezoning and site plan approval and the expiration of any appeal periods. The approval of the applications for rezoning and site plan approval and of the application for approval of this Development Agreement, shall not become effective until the Park donation is established and agreed upon by the Applicant and the City in accordance with Paragraph #2d. If the Park donation is not established in accordance with Paragraph #2d, the applications for rezoning, site plan approval, and approval of this Development Agreement shall be considered withdrawn without prejudice by the Applicant. /Al WITNESS WHEREOF, these presents have been executed this aZ'�l+%% day of PA uYcAq .2007. NU A M T S{ 93 10.15 7326021531 l 1 1;29:07 ACKNOWLEDGMENT AND ACCEPTANCE. BY CITY OF SOUTH MIAMI KA,0J TALL MEN BY THESE PRESENTS that: The City of South Ntiami acknowledges and accepts the foregoing Development Agreernent and each and all of the terms and provisions contained therein, . dated and attached hereto. DATED this day of 141WA4 , 2007. CITY OF SOUTH MIAMIi� By: Pon S ler- McKinley City Manager ,- A:7-EST. LERlti ` Maria M. Menendez STATE OF ��C•G���"�: ) ) SS COUNTY OF The foregoing in�stnunent was acknowledged before me this — � day of �VA44 2007 by /IJr;X g� r of the City of South Miami and attested to by t• rh , a M, Menen� de City Clerk, of [he City of South Miami who are( ) personally sown to me or ( ) produced a valid driver's license as identification. Maria M. Menendez Notary Publi Sign Name: Print Name: � �� ada M. M nendez My Commission Expires: Serial No. (None, i.f blank): [NOTARIAL SEAL) ?�' T MARIA M. MENENDEZ y R My COMMISSION C OD 271979 r07 fl� EXPIRES: f.1flr 76, 210S 1•S7iu.C:T.•Fav p; A,,,erT'L•tix =d w•F -Ca. MIAidl p4- rl l* 7;26021531 3;'29107 IN WITNESS WHEJUOF, the undersigned party has agreed to this Development Agreement dated as of the day of , 2007. It Print Name: cc Print Name: C� i i 4_, STATE OF FLORIDA RRC 57"4 Avenue, LLC, a Florida limited liability company By: University of Miami, a Florida non - profit corporation, its s e member r AAA4 Y� ame: Joseph toli Title: Senior l ice President for Business and Finance ) SS: COUNTY OF MIAMI -DADE) The foregoing instrument was acknowledged before me thi4 LO day o 2007, by Joseph T. Natoli, as Senior Vice President for Business and Finance, of the iversity of Miami, a Florida non - profit corporation, the Sole Member of RRC 57th Avenue, LLC, a Florida limited liability company. PS/She or has produced a State of driver's license as identification. Sign Name: Print Name: My Commission Expires: Serial No. (nc MIAN11 819310.15 7326021531 13 3/28/07 [NOTARY SEAL) NOTARY PUBj IC.STATE OF FWMDA Melody M. Slm-- C,pm�10CT. p0, 2010 •� 010 BOND " THHI! 1r1 -#-N BOh)1�G CO. 1 I I I �i s i 1 i EXHIBIT "All Legal Description Parse] : ... . Pa el Tract 1, of tim REVISED PLAT OF FERNWOOD, according tq the Plat thereof, As recorded in Plat Book 35, at Page 72, of the Public Records of Miami -Dade County; Florida, less the South 475:657 feet of the West 100 feet, and less also the East 150•feet of the South 330 foot, and less also the South 125 feet of the West 175 foot of the East 325 feet; and less also the East 75 feet of the Vilest 175 feet of the South 125 feet. of said Tract. Parcel 2: The East 75 feet•of the West 175 feet of tba South 125 feet of Tract'1, of REVISED PLAT OR FMNI�100D, according to the Plat thereof, as - recorded in Plat Book 35, at Page 72, of the Public Records of Miami Dade County; Florida_ Parcel 3: The North 132 feet of the BE /4 of the. NE '/4 of the SE "A-of Section "25, Township 54 South, of the SE Range 40 East, less the North 25 feet of the North 132 feet of the SE ' /4 of the NE 1/t ' /. " of Section 25, Township 54 South, Range 40 East. Parcel 4: , p 40 East, That part of the BE %4 of the NE•% of the SE /4 of Section 25, Township 54 South, Range described as follows: Begin at the, BE cornea of said BE %• of the 1�rE' /4 of the BE ' /.; thence run 1T>Test along the South line of said SE '/4 of the NE '/, of the SE A fora distance of 185 feet fox a Point of Beginnin" ; thence run North parallel to. the East line of said BE % of the NE '/4 of the SE 1/t foz a distance of 150 "feet; thence ruli. West parallel to the South line of said SE '/4 of the NE '/4 of the SE V4 fora distance of 109 feet; thence run parallel -to the East line of said SE Y of the NE' /4 of the SE'/ foi a distance of 150 feet to the South line of said BE % of the NE Y4 of the SE' /; thence'run East along said South line of the SE % of the NE ' /4 of the SE'/ 'for.a distance of 100 feet to-the- Point of Beginning, less the South 25 feet for public road purposes. .Parcel 5: Tire North' 180 feet of the South 330 feet of the East 150, feet of Tract 1, of REVISED PLAT OF i . FERN-WOOD, eccording to the Plat. thereof, as recorded in, Plat Book 35, at Page 72, - of the Public Records of h1iarni -Dade County, Florida. �I Parcel 6: A portion of Tract 1, REVISED PLAT OF FERNWOOD, according to the Plat thercOfrida,as, Flo recorded in Plat Book 35, at Page 72, ofthe Public Records.of Miami -Dade County, more particularly described as follow;: That part of the 'Southeast Quarter of the Northeast Quarter of the Southeast Quarter of Section 25, Town=ship 54 South, Range 40 East, described as follows: Begin at the Southeast c6rLt.r of said Southeast Quartos of Nprtl�east Quarter of Southeast NJATIA 1255979.1 7332425731 OR BK 25496 PG 0051 I—ASST PAeE Quaztea; thence run West along the South Iine, of said Southeast Quarter of Northeast Quarter of Southeast Quarter for a distance of 285 feet for POINT OF BEGINNING; thence run North parallel to East line of said Southeast Quarter -of Northeast Quarter'of Southeast Quarter lfeet; the ep run West parallel to South line of said Southeast Quarto Southeast Quarter 75 feet; thence run South parallel to ttie East line of said Southeast Quarter of Northeast Quarter of Southeast QwAer• 150 feet to the South line of said Southeast Quarter of of the; Southeast Northeast Quarter of Southeast Quarter; thence der a distance of 75 feet to the POII�]T F 1 Quarter of Northeast Quarter of Southeast Quarter j BEGWNING, LESS the South 25 fcet for public road_ j MIAMI 1259979.173324-26731