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Home My WebLink AboutSEOPW-CRA-1996-05-20-Discussion Item 03CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM i TO: Miller J. Dawkins DATE: May 14,1996 FILE: Chairman SUBJECT: Use of Omni Tax Increment Funds FROM: Herbert j. Bailey REFERENCES Executive Dire ENCLOSURES: It is respectfully requested that the CRA Board consider a request made by the Florida East Coast Properties ("FECR") to use Omni tax increment funds to pay for certain infrastructure improvement costs for the proposed Miramar Center project. The FECR has initiated the development process for the Phase I of the proposed Miramar Center project in the Omni Redevelopment Area. The proposed project is a 1.2 million square feet multi -use lugh-rise development, located at the intersection of North Bayshore Drive and NW 17th Terrace. The FECR is in the process of filing the final replat of the subject property. According to a letter issued by the City's Public Works Department, dated October 23, 1996, the FECR needs to complete certain infrastructure work at the project site and provide either a performance bond or a letter of credit to insure the completion of such task (a copy of the letter is attached). Therefore, the FECR is formally requesting that the CRA Board to authorize the use of Omni tax increment funds to pay for a portion of the infrastructure improvement costs as a public incentive to support this project. In accordance with the Omni Interlocal Agreement with Dade County, the CRA will receive $1.2 million tax increment revenue for the purpose of initiating new projects and attracting new investments. The requested use of tax increment funds for infrastructure improvements is in line with the Chapter 163 of Florida State Statutes, and Omni Redevelopment Plan. Enclosures FROM :�' May I, 1996 TEL: 305 358 1619 1AY. 13. 1996 2:36 PM P 2 FLORMA EAST COAST REALTY� INC. POST OFFccr Box 012949 • MiAMi, Fi-oRx'A 33101 Tat., (305) 358-7710 • FAx: (305) 358-1619 Mr. Herb Bailey Executive Director Community Redevelopment Agency 300 Biscayne Boulevard Way Suite 400 Miami, Plor ida 33131 RE; Miramar Center Dear Mr. Bailey: As you are aware, Florida East. Cost Realty, Inc. ("FECR") is about to commence the first phase of Miramar Center, a 1.2 Million square foot high rise development in the Omni Area, at North Bayshore Drive and 1.7th Terrace. We are currently planning to file the final replat of this Parcel. Xn that connection, Mr. Jim Kay, chairman of the City's Plat and Street Committee, has advised us that certain infrastructure improvements need to be undertaken. To insure completion of these improvements, a performance bond, letter of credit or cashiers check needs to be posted when the final plat is submitted. A copy of Mr. Kay's letter is attached hereto. we are writing to.fcrmally request that the Community Redevelopment Agency ("CRA") utilize tax increment funds to pay for a portion of these infrastructure improvements. The Omni tax increment district was formed, in part, to offer i,noentives to developers to encourage projects in the Omni Area. The enabling legislation and the Redevelopment Plan specifically allows tax increment funds to be utilized for the type of infrastructure improvements the Public Works Department is requesting. FEGR is willing to pay for certain of the requested improvements, specifically, we are willing to: 1) Provide and install sod including soil and top dressing 2) Install palm trees with 16 foot minimum height and minimum s foot olear. trunk 3) Subject to field checking for quantities, we would also FROM TEL: 305 358 1619 .4AY. 13.1996 2:37 PM P 3 remove and install sidewalks in front our new development. 4) We would also be willing to undertake reconstruction of the sidewalks on Phase 2 at such time as we undertake that project The remainder of the improvements relate to public streets, curbs, gutters and catch basins. I believe that much of this work was recently completed. It is appropriate for the CRA to allocate funds for these public improvements that remain to be completed. Mr. Xay has indicated that a letter from the CRA, committing to undertake the improvements would be acceptable in lieu of a bond or letter of credit. we request that the letter cover our agreed to work as well as the CRA work so that we would not have to expend funds guaranteeing our work at this time. We would certainly accept, as a condition to issuing a Certificate of Occupancy for our Phase I of Miramar Center, that the items we agree to do, are satisfactorily completed. Thank you in advance for your consideration of this request. The Tax Increment District and the CR.A'S encouragement to develop in the Omni. Area, have been factors in our decision to undertake this project. Your favorable response to this request will assist in moving•this development forward. ;A7aTY I INC. -- -. -• - - FROM : TEL: 305 358 1619 AY. 13. 1996 2:37 PM P 4 M � " �►` ctUl WA01 ARR t Lill CtaIAR N, 0010 l t a er aa. octobor 23, 1906 Mr. Tibor MolI* Synoron 100 b 111006yhe O l vd . t SU t t ail 01100 Mlaml, FL 33101 Ladles And O411t i (MOh a SEAPORT tENYATIVlj PLAY• 01461—b Your tentative plat antitIed StAport is now beino pr000aaard. At etataa In our S optetnbor 91 l 199b latter, State And City l ayw$ roautre that the OWh er(0) of land belho olotted or replotted enter Into an aprsemant with th• City to construct certain Improvements. To 1 nsUre that these eubd l v I a 1 6h impravembnts are conotruc+<ed, a 15erf6rtnande bond, letter of oredlt, or oashler's oharok will be raau l red guarantee i no the completion of these Iallprovemente Within one year from the a000ptartaa of the new o I at by the City Commisaion. The aMoUnt Of the bond, letter of Credit or eanath 1 ar's chock Ilk b4*od upon the *st lmaated coat of the Imorovements listed bolowi REMOYAt. Or APPROXIMATELY 9. 800 S q . r t . $ 2 , eon . oo OF Ek 19T I NO SIDEWALK. CONSTRUCTION OF APPROXIMATELY 3 6,160.00 2,060 6q. Pt, of 4 In. 0onarste aldawtlk AEMOVAL OM APPROXIMATELY 320 Linear 3 6.40.00 toot of curb. AVMCVAL OF APPAOX IMATCLY 110 Llne4r 1 976.00 Of ourb & gutter CONSTRUCTION OF APPROXIMATZLY 4*0 $ 4,300.00 Linear teat of 6 lhoh curb a putter, PROVIDE AND INSTAt.L 0#000 Square Feet 1 11000.00 Solid Said (Inoludlho soil and top dressino) CONSYRUOY ION Or APPROXIMATELY 900 12 , 006. 00 Sad, Yds, Of NtW ASPHALT PAV910ENT (ihdludInp now a Inch lImteoew base ailed Ili 1hoh asphaltic concrete swrfooe) RZMOVE APPAOX IMATELY 000 $a, You, Of S 2,700.00 A*pha I t l a pave mom t PAgd 1 of 4 b1l`A*TM(NT Of PU50C WORKS/3s1 N.W, 3nd Ww/t4sro, ►lorad+ 3)1301()otl paw% FROM TEL: 305 358 1619 .,Ay.13. 1996 2:38 PM P 5 Mr, Tibor Hallo, Ootobetr 23, 1006 Syalbron Seaport Tentat lva! Plat. *1461-5 ADJUST 2 CATCH BARB I Nil TA 4 I NK AND 3 600,00 GRADE CON$tRUCTION OF APPROXIMATQUY 600 = 9,400.00 $a. ft. of 6 Inoh donorot6 sttdowarlk 7-WASH I NGTON ROSUSTA (MZX i CAN) $ 2, 1 od.1 0 � PALM TRKCS 16 Pt. Ht., minimum b ft. 01*Ar trunk ESTIMAM COST OF iM FA0YSMI;NT8 t 00,766,00 10% CONTINUNT # 31576,60 41 17% LNO I NCER I NO AND INDIRECT CASTS i 6,066400 TOTAL ! 4il6020, 08 AMpUNT OF pSRFOAMANCK BOND/CASH I M S C119CK/LeTTEA or CAVD 1 T ¢ 40 , 10b. b0 You and your engineer s1toUld confer with the nepartm*ht of P0011C Works (Highway Sesctlan) to discus* the proposed Improvements, Your eana i nester will be raqu i red to prepares and Pool CoMp l ate Cbn*truct I tin plane for those ImprbVemolItn . The Plans must ba submitted to the Hiohwoy Sootion for review and approval Prior to the issuance of any porm l tea . Reosohab l e time must be as 1 141:ted far this prover review of the ttenartructlan plans by City pe sonna l , A r*produo l b 1 e my l fir of the approved plant (maK Imum * I XG 24" X 30") *halt be submitted to the Highway Section prior the le uanpA of any building or coAStruction psrmlts on th* pFoparty being o l attad. Construct lon of tho ssUbd I V I S I On Improvements shall not commence until your contractor nab obtaInod the requirad permits. A line & graxdo oexrmlt foes must be paid by your contractor If new sidewalk and/or aVro & gutter In to be conttructoO. An bfcoavat ion p6rml t tote must be pa Id by.,, your Contractor If new oralineado otruatures are to bs Instal lod, Any cons true 0 on.on a Ate rood no udlh r loc tloh of utillt or 1 a os wlil alaq r r a ermlt fr the Florida 0,eparlmIghl of Tra a ar a_tldh, AIso, yaUr Surveyor will be responsible for the ItVoVt and final mealbur*monta of the subdivision Improvement*. A Copy of they "net-.bUIItO survey erneIl be aabtnitteyd to the Highway Sact l on for approval prior to the re i oases of the taubd I v i s I oh Improvement band. Page 7 of 4 FROM TeL: 305 359 1619 AY. 13.1996 2:39 PM P 6 0 Mr, 1'ifaor Hallo fsynoran 6e60ort Tentative plot *1.481«8 Oatabar Q�, ttrlfift The l randscao l op eta t ilrtato, when 1 ago f Uded, Is Rased on full Coverage of solid *ad And planting Of spppllieq treatr, The awner(s) will bo required to >QUArantos tho landsceping for one year After the subdlylalon Irnprovsments hava been accepted by the Dopertrnent of Publ io Works, •Water service requirOMonts are not Included In the improvements •IItt*41 above. For information ooncerning water mAintr and &pourtenanbes, cgnkact MIAMI -cede water & Sawer Department at 9l�15-74'14 . When the flnisi Plat has boom prepared by your surveyor, It Is to DO SUbMittod to they Department of public Kork>s (Survey Sootion) for ohookinq and otoc as*1ng. Tho foi tgwinq itom• are to saoomoany the linen or mylAr traoing of the final plat aho are to be reoalved by. our Survey Sact.lon no itt4ar than 6 week& prior to thS 00 M I SS I on meeting at which your plat Is acheau l ed for City COMMI68lon approval. 1. Pinal plat original ((nked). a, Throe Printa of finAl pia4t, 2. $360 Check for platting face. 4, Paid tax receipts for propetirty bsing platted--" S. A00rpva 1 letters f rom ut I I I ty compsn I es 00h00rh I nq et,nementa and *ervloan. . 6. Let tor of Crerilt, Performance Bonet pr cashior-a Chook for amouht of subd l v i s i an Imprr,"eftente (forma provided by PtibIia Works). 7, txaoute*!d aagrodhient, In triplicate, between owner(s) area city for subdlvlalon lmnrovomsnts. (Forma providod by PUbi10 Works). 6, A recent opinion of title, In triollahte, from an attorney. (Forms provided by Public Works), 9. Proof that mill lions on property have boon paid. 10. if approvod by Highway Santlon, a covenant powtportln9 some or alt of the aubdtvialon Improvements, must ba> executed by owner(s), (Forms prepared by I*UbIio Works. Owner to pray $200 preparation fee plus► recording fee). If you have any ausetions pert&Ihlhg to the sUbdivlslgn improvements, contact Mr. Yo%y Co4Me at 679-6r366. Page 3 of A n PROM : ?EL: 305 358 1619 r \ Mr. T4 bar Ho I t o Synerom 0660or t 7*m to t l v* Plat * 1401-0 13. 1996 2:39 PM P 7 OCtdbor 49, i1i81iS If you havR any auost1ons O*rtolnInb to thA fInat pl&t &ntj its submiss1an to the Clty co mlealan for aPorovaI 00hteat Mr. Frank McMahon, Surveyor, At 67$.-asea, Sincerely, Jamdar J. ay, .�. GnRlrrnan, ply Ka tttraat Ctmrmlt�oa JJK:rlte cat Portln, Leavy, $kilos, lira. 160 N.C. 165 Strtbot NArth' MIam1 Seam, 'ILL 33102 P406 A of A 0