HomeMy WebLinkAboutR-98-1181J-98-1145
9/11/98
RESOLUTION NO. ` 118
A RESOLUTION AUTHORIZING AND DIRECTING THE
CITY MANAGER TO ALLOCATE $1,137,020 FOR THE
PURPOSE OF PAYING THE DEBT SERVICE DUE ON
CITY OF MIAMI SECTION 108 LOANS TO BE
PROVIDED TO THE U.S. DEPARTMENT OF HOUSING
AND URBAN DEVELOPMENT (HUD) FOR DADE FOREIGN
TRADE ZONE, INC., DEVELOPER FOR THE WYNWOOD
FOREIGN TRADE ZONE COMPLEX (PROJECT NO.
695002-$366,269), THE CITADEL ARENA
CORPORATION, INC., DEVELOPER FOR THE CITADEL
RESTAURANT AND OFFICE BUILDING (PROJECT NO.
695001-$330,331), AND THE CITY -SPONSORED
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT DISTRICT (PROJECT NO. 210000-
$440,420); ALLOCATING FUNDS THEREFOR FROM THE
COMMUNITY DEVELOPMENT BLOCK GRANT
(CDBG)PROGRAM LINE OF CREDIT.
WHEREAS, Section 108 loans, in the amount of $5.5 million,
were made to Dade Foreign Trade Zone, developer for the Wynwood
Foreign Trade Zone,; and
WHEREAS, Section 108 loans, in the amount of $2.5 million,
were made to Citadel Arena Corporation, Inc., developer for the
Citadel Restaurant and Office Building,; and
WHEREAS, both developers have defaulted on the above loans
and the City of Miami has initiated collection proceedings which
could result in foreclosure actions; and
WHEREAS, Section 108 loans, in the amount of $8 million,
were made available to the City of Miami to assist in financing
IMM? CONIIN MON
JUMTMG CIF
c DEC 0 8 1998
how1utim Z40.
98-1181
the development of the Southeast Overtown/Park West (SEOPW)
Community Redevelopment District Project (Project); and
WHEREAS, payments remain on schedule for the SEOPW Project;
and
WHEREAS, pursuant to HUD regulations, the City of Miami must
pledge the CDBG allocations it annually receives from HUD as a
guarantee for repayment of Section 108 loans in the event of
default by a project developer; and
WHEREAS, funds from the City of Miami CDBG Program Line of
Credit, in the amount of $1,137,020, are available to pay the
debt service due on the Section 108 loans to be provided to HUD
for the Wynwood Foreign Trade Zone Complex in the amount of
$336,269, the Citadel Restaurant and Office Building, in the
amount of $330,331, and SEOPW Community Redevelopment District,
in the amount of $440,420; and
WHEREAS, the proposed allocation will maintain the Section
108 loans current through September 30, 1999;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Manager is hereby authorized and
directed to allocate $1,137,020 for the purpose of paying the
debt service due on City of Miami 108 loans to be provided to the
U.S. Department of Housing and Urban Development (HUD) for Dade
98-1181
Foreign Trade Zone, Inc., developer for the Wynwood Foreign Trade
Zone Complex (Project No.695002-$366,269), the Citadel Arena
Corporation, Inc., developer for the Citadel Restaurant and
Office Building (Project No. 695001-$330,331), and the City -
sponsored Southeast Overtown/Park West Community Redevelopment
District (Project No. 210000-$440,420), with funds therefor
hereby allocated from the Community Development Block Grant
Program Line of Credit.
Section 3. This Resolution shall become effective
immediately upon its adoption and signature of the Mayori/.
PASSED AND ADOPTED this 8th day of December , 1998.
JOE CAROLLO, MAYOR
In accordance with Miami Code Sec. 2-36, since the Mayor did not indicate approval of
this legislation by signing it in the designated ; lace provided, said legi.1 tiDvt
becomes effective with the elapse of ten (10) days from the date d C,,omnm,.3Sicn
regarding same, without the Mayor exercisi v
ATTEST :
1At �4te: 'rq .rts. n. r ity Clerk
WALTER J. FOEMAN
CITY CLERK
9ND CORRECTNESS :t/
W3050:CSK
1% If the Mayor does not sign this Resolution, it shall become effective at
the end of ten calendar days from the date it was passed and adopted. I£
the Mayor vetoes this Resolution, it shall become effective immediately
upon override of the veto by the City Commission.
3-
98-1181
J-95-940
11/28/95 9 5- 859
RESOLUTION No.
A RESOLUTION, WITH ATTACHMENT,
AUTHORIZING THE CITY MANAGER TO ENTER
INTO AN AGREEMENT WITH THE DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT (HUD), IN
SUBSTANTIALLY THE ATTACHED FORM, FOR A
SECTION 108 LOAN GUARANTEE IN THE AMOUNT
OF $5.5 MILLION DOLLARS TO FINANCE THE
DEVELOPMENT OF THE WYNWOOD FREE TRADE
ZONE, A PROJECT OF THE WYNWOOD COMMUNITY
ECONOMIC DEVELOPMENT CORPORATION TO BE
DEVELOPED BY LADE FOREIGN TRADE ZONE,
INC.
WHEREAS, the City of Miami is committed to assisting non-
profit organizations that develop projects which will create new
jobs and remove slum and blight in the community; and
WHEREAS the City of Miami on behalf of Dade Foreign Trade
Zone, Inc., has applied for a $5.5 million Section 108 Loan
Guarantee from HUD for the development of the Wynwood Free Trade
Zone; and
WHEREAS, HUD has officially approved the Section 108 Loan
Guarantee.
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
ATTACHRUN CSv
CONTAINED
CITY COMMISSION
MEETING OF
DEC 0 7 1995
9"oaeQ.
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Manager is hereby authorized to execute
an agreement with the United States Department of Housing and
Urban Development, in substantially the attached form, for a
Section 108 Loan Guarantee in the amount of $5.5 million dollars
to help finance the development of the Wynwood Free Trade Zone,
Inc., a project of Dade Foreign Trade Zone, Inc. and the Wynwood
Community Economic Development Corporation.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 7th da December , 1995.
r4zcz
P. CLARK, MAYOR
ATTE T: FINANCE AND BUDGETARY REVIEW:
WALTER J,. MANO A
TCITY CL ASSISTANS MANAGER
PREP D AND AP P OVED BY NET REVIEW AND APPROVAL:
1
LIND KELLI' XEARS99 ELI ATERS, DIRECTOR
ASSISTANT CITY ATtORNEY NET
APPROVED AS TO FORM AND CORRECTNESS:
A. Ot7TNN 91OWS1 III
CITjKATT7Y
LKK/pb/W454
< �-1,Is
-2-
95- 859
7-95-588
q/13%95'
RESOLUTION NO. 95
`585
A Ris6t D�'IQN. AjTI'FiORLZING THB CITY MANAGER TO
PREPA $y,'1�1Qp SUBMIT .AN APPLIDATI.ON, I_ N A 'FORM
AC't P'�ASY�B Tb : THB� CITY ATl'QR SY Tb ` THE -
4 ' UNI'i p - AT* S DfiPARTM$NT OF XOUSIft AND ' URBAN
DET
MENT $pD ) , P'OR A LaAN QNDBR T�iB HIID
SgC�IO,NPROGRAM IN A# A�IOU�iT NOT �'p
B$C7i8b : $5.5 MILLION,- FOR ' 'T� PO$8 PUROh
I�II�iAi CING `Tg$` LIHVSLOPkm OF- A' FOiWIGN TRADS'
MbHii MP $R, . LQCATBD IN THS � vh N* OCSD
AR" TO BS CC)NSTRQCZ'AD AND 001i"TSD $Y 'DADO -
POR$I T1t�1DS• ZONE. INc. ; FiTRT = AVl'HO tI TNG .
• `. TSB `DER AND . THE C`= A�'TO
�RNRY TO '
:� PRBPA�tB T$B CRISARY DOC'�!!1ffiii'rA1'ION TO
COWL= Tgn APPLICATIOrT
.3•: ' S DIXR.nS, the City of Miami is committed• to asaistirig private
14ve4tm_at8 that will create new jobs amd remove slum and bight
It
n 'tip _ esignated Comruhity Redevelopment 'Target Area; and
'the wood For i '- *p a gr� Trade Zone complex iIp localted
vitb ,n ' the • Wynwoo4 to ijet area and the . Cit l s -
y $nterprise'
r IL
Community area; and ,
- lftREAS, the proposed project is a privately �Lnitiaited
efoort Nhich will revitalize approximately 16 acres to Create -an "
:, : iridu9itrial park and free trade zone on tha : mite and provide a'
minit"; :of 855 low and moderate income: individuals with
0001cdym�nt opportunities; and
Wfi REAS, it i.4. quite difficult to. finance' the , proposed
t
Proje�ct!'thr6ugh the conventional financing means; and
CilY CO�MI35 ON
HEETIN'G OF
JUL 1 3 th.�' ,
ROiolue" NA
' 95- 5$5
98 -1181
tfie.developer has requOOted the assistance of the
'City f9r. the purpose'of putting together a, f filzincingr packag
under' the United Department- of 'Hou`iding end Uibazi
bev*ejop!rt4nt-1s*:'9'on i*_ 109 'Loaim pr�ogram; ect and
A
inm sect tpa ioi� 16 6 `14a�6 shall be de'
Of the
t*64 )eeVenue ieiliiit&$` ily.
the r0j4dtj CIO:.
Sohe X'nc.. vtll
e voreign !rra�46
di te)ralize 'the' f:.HOD guidelines,'
f4i ture Cq ity Developing : ick
�O o minX ;:e on future tBlo n
'ocatio4s 4#i6h* imust be pledged an collatekal for ?the'
r. TREOFO) k IT RESOLV13D
OF x
PYOORIX)A:
� S tiod 2. The recitals, and f indi contained in the
Resolution a{4 4efe0k;
ed by' )ref re*CO
O)LZI
tb..j-er-
Tot 0
nd:'
ncorpo�#t�j." herein' ei n, as 'if -ful'ly set fortIin this` ,
On
.
sect_e E oA *e'tiky: Manager hdi~eby ied. to
tvo and subtjitj ppplicati6ft, in a oxmactaptA4e to t1je
Ciky lAetorneyto 6 W.United State M*
x OPM84 exceed A5.5
m!1lfon.-- under-the10i program, for the pi r* of
finan-cA he- ddvelpptqent: of a* For6ign" Trade' Zone Complex
jc".ted at approxinateiy NW.-22rd Street; to N.W.23rO-StrOet,
TM be cirk IAorivAlion b fbrther subject to compliance with all "irtmepts that may be imposed by the City
APIO.Oincluding A91IiRed ro iSosepreicd bed by applicable City Charter and Code p
'
from N:w. Stii : Avenue to N.N Znd Avenue, ynwood Target Atea,
Miami, Plorida
Section 3 The City Manager and .the .:City AttOrney :`are.
hereby :further: authors ed to prepare the aecessary. dQqtkmentatfon
to clnvplete the ap llc�kt:(on pjrocess ,
9ectioi� 4. T1L1e Resolution.. sFa12:�oa� effective
i m6dia£ely: „'its aadaption. '
SM- AND ADO TBD, this , day of
a
PRB :AND APiwvjlD HY:
AGOk
- A ASS I CITiI 'rORNBY
• • .
- APPROvab A$ : TO F_ OOM AND CTORRSCZ2ws : `
40
A S, II7
- Cr
0248 : 4;s ;L1Cx -
98-1181
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
PUBLIC SERVICES AND SOCIAL PROGRAMS
Page 1 of 15
Jo.
APPLICANT I
CUR.ALLOC
REQUEST
CITY STAFF I
D.BOARD
E COMMITT
C TY COMM. I
PROJECT DESCRIPTION
TA
Dist.
1
ACTION COMMUNITY CENTER
$ 307,500
$ 377,500
307,500
$ 307,000
300,000
292,863
TRANSPORTATION SERV FOR ELDERLY & HANDICAPPED
CW
MD
2
AGAPE ACADEMIC ENRICH
$ -
$ 120,650
$ -
$ 20,000
$ 20,000
$ 10,000
TUTORING & ACADEMIC ENRICHMENT YOUTH AGES 10-12
OT
3
AGAPE ACADEMIC ENRICH
$ -
$ 30,750
$ -
$ -
$ -
$ -
FOOD VOUCHERS FOR YOUTH IN ACADEMIC PROGRAM
OT
4
ALLAPATTAH COMM ACTION
$ 277,950
$ 352,950
$ 302,950
$ 278,000
$ 300,000
$ 303,530
MULTIPLE SERVICES FOR THE ELDERLY
ALL
1
5
ALTERNATIVE PROGRAMS
$ 46,550
$ 100,000
$ 46,550
$ 47,000
$ 45,000
$ 44,334
INTERVENTION PROG FOR NONVIOLENT OFFENDER
CW
MD
6
ASPIRA
$ 41,880
$ 50,000
$ 41,880
$ 50,000
3 41,880
$ 39,887
YOUTH LEADERSHIP PROJECT FOR 7-19 YEAR OLDS
WYN
2
7
ASSOC FOR USEFUL AGED
$ -
$ 67,000
$ -
$ 40,000
$ -
$ -
FOOD/INFO/REFER/COUNSELING TO ELDERLY & LOW INC
LH
3
8
ASSOC FOR DEV OF EXCEPT
$ 13,965
$ 35,000
$ 13,965
$ 35,000
$ 25,000
$ 13,300
VOCATIONAL TNG/JOB PLACEMENT DEV DISABLED
CW
MD
9
BASIC TRAINING
$ -
$ 650,500
$ -
$ 25,000
See Page 3
$ 12.500
ASSIST TO HOMELESS:HOUSING, FEEDING &HLTH CARE
OT
5
10
BLACK ARCHIVES
$ -
$ 75,000
$ -
$ 50,000
S -
$ -
EMPL SKILLS/STRUCTURES WORKSHOPS FOR CULT ACT
OT
5
11
BOYS & GIRLS CLUB OFMIAMI
$ 20,000
$ 20,680
$ 20,000
$ 20,000
$ 20,000
$ 19,048
YOUTH RECREATIONALIEDUCATIONAL PROJ C. G GROVE
CG
2
12
CCS/CENT HISP CATO CH CA
$ 22,700
$ 26,104
$ 22.700
$ 26,104
$ 22,700
$ 23,619
CHILD CARE PROGRAM IN WYNWOOD
WYN
2
13
CCS/CENTRO MATER CH CA
$ 63,590
$ 73,200
$ 63,950
$ 40,000
$ 40,000
$ 68,000
CHILD CAREPSERVICES IN LITTLE HAVANA
LH
3
14
CCS/CENTRO MATER TEEN
$ 18,600
$ 21,500
$ 18,600
$ 10,000
$ 10,000
$ 17,715
TEEN OUTREACH PROJECT IN LITTLE HAVANA
LH
3
15
CCS/NOTRE DAME CHILD CRE
$ 19,070
$ 23.112
$ 19,070
$ 20,000
$ 20,000
$ 18.162
CHILD CARE SERVICES IN EDISON LITTLE RIVER
ELR
5
16
CCS/SAGRADA FAM CHI CARE
$ 48,140
$ 55,360
$ 48,140
$ 48,000
$ 40,000
$ 45,849
CHILD CARE SERVICES IN LITTLE HAVANA
LH
3
17
CHILDREN'S PSYCH CTR
$ -
$ 150,000
$ -
$ -
$ -
$ 15,000
MENTAL HEALTH DAY TREATMENT FOR YOUTH 3-5
LH
3
18
CITY MIAMI PARKS DAY CARE
$ 25,000
$ 35,838
$ 35,838
$ 127,540
$ -
$ -
$ -
$ 34,132
CHILDCARE SERVICES IN ALLAPATTAH, ELR MOD CITY
CW
MD
19
CITY MIAMI PARKS DISABLED
$ 72,500
$ 127,540
$ 10,000
$ 72,500
$ 121,469
LEISURE/INFO/REFERRAL/TRANS FOR DISABLED
CW
MD
20
COC GR FAM&YTH INTER CTR
$ -
$ 157,600
$ 15,000
$ -
$ -
AFTER SCHOOL CARE RECREATION/HEALTH)
CG
2
21
COCONUT GROVE WRITERS
$ -
$ 125.000
$ -
$ -
3 -
PROMOTION OF LITERATURE
CG
2
22
COCONUT GROVE CARES
$ -
$ 60.886
$ -
$ 30,000
$ -
$ -
ANTI GRAFFITTI PROJ; POSITIVE USE OF ART TALENT
CG
23
CTR FOR HAITIAN STUDIES
$ -
$ 200,000
$ -
$ -
$ -
$ -
FOOD VOUCHER PROJECT _
ELR
24
DEHOSTOS SENIOR CENTER
$ 180,950
$ 242,366
$ 180,950
$ 180,950
$ 180,950
$ 172,337
MULTIPLE SERVICES PROJECT FOR ELDERLY
WYN
2 1
25
DOMINICAN AMER NAT FOUN
$
$ 88,817
$ -
$ -
$ -
$ 5,000
JOB TRAINING/PLACEMENT/COUNSELING
ALL
1 I
26
DOROTHY MAE EPPS
$
$ 10.000
$ -
$ -
_ -
$ -
ELDERLY SERVICES (INELIGIBLE -NON AGENCY REQ)
MC
5
27
DR RAFAEL A. PENALVER CL
$
$ 98,433
$ -
$ -
$ -
$ 20,000
YOUTH MED SCREENING/SPORTS FOR YOUTH 5-14
LH
3
28
EMPOWERING THE VISION
$
$ 217,086
$ -
$ 52,196
$ 20,000
$
CRIME PREV PROJ FOR AT RISK MID SCHOOL FEMALES
CW_
MD_
28
EQUAL HOUSING FUND OF FL
$ -
$ 156,391
HOMELESS TF
$ -
$ -
HOMELESS TF
FOOD/OPERATIONAL EXPENSES FOR TRANSIT SHELTER
CW
5
30
FIRST UNITED METH CHURCH
$ 15,900
$ 25,000
$ 15,900
$ -
$ 15,000
$ 15,143
MULTIPLE SERVICES PROJ FOR ELDERLY__
DT
_ 2
31
FOCAL
$
$ 280,611
$ -
$ -
$ -
$ -
TUTELAGE TO STUDENTS/TRNG WELFARE MOTHERS _
C_W_
5
32
GREATER BETHEL AMERICAN
$ 30,000
$ 51,698
$ 30,000.00
$ 10,000
3 30,000
$ 28.572
HEALTH ED PROJ FOR AT RISK HIWAIDS_P_ER_SO_ NS
OT_
5
33
GREATER ST PAUL AME CHU
$ -
$ 70,080
$ -
$ 30,000
$ 25,000
$ 22,000
AFTER SCHOOL CARE (REC, C_OUNSEL_EDUC)
CG
2
34
HACAD
$ 65,150
_
$ 94.500
$ 65,150.00
$ 65,000
$ 55,000
S 62.049
EMERGENCY FOOD ASSISTANCE TO HAITIAN CIOMMUNITJ
ELR
5
35
_
HACAD
$ -
$ 81,500
$ -
$ -
$ -
$ -
AFTER SCHOOL PROG PROVIDE SO_C/T_ECH_S_K_IL_LS_
ELR
5_
36
_ _
HAITIAN A_M_ERICAN FOUNDA
SU4,462,652
B-TOTAL
$ -
$ 110,000
S -
$ -
$ -
$ -
ACCULTURATION PROJECT, INFO/REFERRAL R
ELR
2
$ 1,269,445
$ 4,462 652
$ 1 360.683
$ 1 409,250
$ 1 283 030
$ 1 404,509
4/ 17198
JAR.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
PUBLIC SERVICES AND SOCIAL PROGRAMS
Page 2 of 15
40.
APPLICANT
CUR.ALLOC.
I REQUEST
CITY STAFF
C.D.BOA D
ED COMMITTE
CITY COMM
PROJECT DESCRIPTION
TA
D'
From Previous Page
1,269,446
4,462,652
1,360,683
T 1,4 99,260
1.2 33,030
1,404,509
37
HAITIAN AMERICAN FOUNDA
$ -
$ 131,000
$ -
$ - .
$ -
$ -
WORKSHOP/COUNSELING/SOCIALIZATION ELDERLY
ELR
2
38
HAITIAN AMERICAN FOUNDA
$ 46,000
$ 92.000
$ 46,000
$ 35,000
$ 46,000
$ 43,810
JOB TRAINING/PLACEMENT/COUNSELING
ELR
2
39
HAITIAN AMERICAN FOUNDA.
$ 70,750
$ 70,750
$ 70,750
$ 50,000
$ -
$ 67,382
CHILD ABUSE PREWINTERVENTION
ELR
2
40
HAITIAN COMMUNITY CENTER
$ 25,000
$ 53,148
$ 25.000
$ 20,000
$ 20.000
S 23.810
SEWING MACHINE TRAINING
ELR
5
41
HISPANIC COALITION
$ 23,275
$ 75,000
$ 23,275
$ 28,000
$ 20,000
$ 24,167
JOB PLACEMENT/IMMIGRATION ASSIST FLAGAMI AREA
CW
4
42
JESCA
$ 98,475
$ 108,888
$ 98,475
$ 100,000
$ 75,000
$ 93,788
MULTIPLE SERVICES TO THE ELDERLY
CW
MD
43
44
KIDCO CHILDCARE
KIDS INACTION
$ 82.590
S -
$ 100,000
t 9lion
$ 82,590
t _
$ 83.000
e _
$ 62,000
t
$ 78,659
t
CHILDCARE SERVICES IN WYNWOOD
VI01-1 ! neAOTC /141C1 I
WYN
I-
5
45
LIONS HOME FOR THE BLIND
$ 49,000
$ 117,461
$ 49,600
$ 35,000
$ 49,800
$ 47,239
EDUCATION/COUNSELING SERVICES TO BLIND
LH
3
46
LITTLE HAITI HOUSING
$ 23,2 55
$ 35,000
$ 23,275
$ 10,000
$ 23,275
$ 22,167
TENANT EDYqATION ASSISTANCE IN ELR
ELR
5
47
LITTLE HAV ACT & NUT CTRS
$ 259,675
$ 312,527
$ 259,675
$ 260,000
$ 259,875
$ 247,314
MULTIPLE SERVICE PROGRAM TO THE ELDERLY
CW
MD
48
LITTLE HAV ACT & NUT CTRS
$ 63,070
$ 82,492
$ 63,070
$ 22,000
$ 22,000
$ 60,068
MED SCREENING/EDUC SERV TO ELDERLY
LH
3
49
MIA JEW HM HOSP FOR AGED
$ 32,575
$ 40,000
$ 32,575
S 25,000
$ 25,000
$ 31,024
MULTIPLE SERV PROG FOR THE ELDERLY AT LEGION PK
ELR
2
50
MIAMI BEHAVIORAL HLTH CTR
$ 25,370
$ 25,370
$ 25,370
1 $ 15,000
1 $ 15,000
$ 24.162
OUTPAT. MENT. HLTH SERV, SUBSTANCE COUNSEL
CG
2
51
OVERTOWN COMM OPT CLUB
$ 37,225
$ 59,500
$ 37.225
$ 40.000
$ 40,000
$ 35,453
IRECREATIONALICULTURAL EDUC ACTIVITIES FOR YOUTI
OT
5
52
OVERTOWN NEIGH PARTNER
$ -
$ 1,651,980
$ 38,287
$ -
$ 38,287
$ -
OPERATIONAL COSTS; VARIOUS OT PROJECTS
OT
5
53
;I
PHASES OF LIFE
ftl^� 1^^i^
$ -
$ 161,142
$ -
$ 70.000
$ 70,000
$ -
ICRIME PREV W/SOCIAL, EDUC, VOC, COUNSEL & REC
MC
5
4/17198
:�8-402.1 98-1181 JA.R.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
PUBLIC SERVICES AND SOCIAL PROGRAMS
Page 3 of 15
EMERGENCY SHELTER
GRANT (ESG)
No.
APPLICANT
C R.ALLOC
REQUEST
CITY STAFF
C.D.BOARD
ffD COMMITT
CITY COMM.
PROJECT DESCRIPTION
TA
Dist.
1 E
BETTER WAY OF MIAMI
$ 20,000
$ 85,728
$ 49,000
$ 49,000
49,000
$ 49,000
HOMELESS SHELTER FOR MALE SUBSTANCE ABUSERS
CW
MD
2E
NEW LIFE FAMILY SHELTER"
$ 80,000
$ 80,000
$ 80,000
$ 80,000
$ 80,000
$ 80.000
SHELTER FOR HOMELESS FAMILIES/SUPPORT SERV."
CW
MD
3E
CITY OF MIAMI HOMELESS P.
$ 246,000
$ 347,000
$ 347,000
$ 347,000
$ 347,000
$ 347,000
INFORMATION/REFERRAL PROJECT FOR HOMELESS
CW
MD
4E
BASIC TRAINING
$ -
$ 650,500
$ 25,000
$ -
$ 25,000
$ 25,000
ASSISTANCE TO HOMELESS PERSONS, HSG., & FOOD
OT
5
Note: CD BOARD RECOMMENDED 4E UNDER CDBG ( PAGE 10 9)
"APPLICANT NOT INCORPORATED; PROJECT PREVIOUSLY FUNDED THROUGH CHRISTIAN COMMUNITY
SERVICE AGENCY
TOTAL EMERGENCY SHELTER G.
346,000
1,163,2281$
501,0001$
476,000
501,0001
y -10 )-1
4/ 17198
JAR.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 4 of 16
No.
PROJECT NAME:
CUR.ALLOC
REQUEST
CITY STAFF
C.D.BOARD
D COMMITTE
CITY COMM.
PROJECT DESCRIPTION
TA
Di:
1
Allapattah Bus. Development
50,000
$ 100.000
50,000
100,000
50,000
HOME PROD
CDC Admin. Funded $ 50,000 under HOME program. (See
AL
1
Authority, Inc.
page 14 of 15 # 5) Aila attah UM
2
Florida Hou Ing Coop., Inc.
$ 50,000
$ 50,000
$ 50,000
$ 50,000
$ 50,000
HOME PROD
CDC Admin. Funded $ 50,000 under HOME program. See
LH
3
3
Edgewater Econ. Development
$ 50,000
$ 50,000
$ 50,000
$ 50,000
$ 50000
,
$ 50000
,
e
a 14 of 15 # 5) Little Havana UM
CDC Admin.--New Housing--5 Single -Family
WY
2
Corporation
Homes UM in Edgewater
4
De Hostos Senior Clr., Inc.
--
$ 50,000
$ -
$ 50,000
$ -
$ -
Home Improvement Program for
WY
2
20 low -Income elderly/handicapped
homeowne -in W nwood UM
5
Coconut Grove Local Devel.
--
$ 100,000
$ 50,000
$ 100,000
$ 50,000
$ 50,000
CDC Admin. New Housing--5 units
CG
2
Corporation, Inc.
Single -Family homes/rehab. of 5 rental
units UM -Coconut Grove
6
Equal Housing Fund of
--
$ 277.012
HOMELESS T
$ -
$ -
HOMELESS T
Funding for the rehabilitation of structure
LH
3
Florida, Corporation
at 824 NW 3rd Street--32 SRO Housing
units for homeless veterans --UM
7
Equal Housing Fund of
--
$ 469,000
HOMELESS T
$ -
$ -
HOMELESS T
Little Havana (Highlander Retreat)
Funding for the acquisition of structure
LH
3
Florida, Co oration
located at 624 NW 3rd Street--32 SRO
Housing units for homeless veterans -UM
8
Little Haiti Housing
$ 50,000
$ 80,000
$ 50,000
$ 80,000
$ 50,000
$ 50,000
Little Havana Highlander Retreat)
CDC Admin. New Housingof
ELR
5
Association, Inc.
10 Single -Family homes --UM
Edison/Little River
9
East Little Havana Community
$ 100.000
$ 3 00,000
$ 100.000
$ 100,000
$ 100,000
$ 200,Q90
CDC Admin. New Housing--140 units
LH
3
Development Corporation
Condo/Townhomes and homeownership
training programs for homebuyers--UM
In Little Havana--
10
East Little Havana Community
-
$ 1.000,000
HOME PROD.
$ 300,000
$ -
HOME PROG
Project assistance to defray cost of
LH
3
Development Corporation
pre -development expenses associated
45-unit Latin Quarter Specialty Center
SUB-TOTAL HOUSING
$ 300,000
$ 2,476,012 1
$ 350.000i
$ 830,000 1
$ 360,000
360,000
Project --UM In Little Havana ---
8- 4 0 ;�4 9 8 -1181 4/17/98
J.A.R.
• Proposed final flrnding recommended to the City Commission in an effort to reconcile City Staf/with EDT Committee and CD Advisory Board recommendations.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 5 of 15
IO PROJECT NAME
CUR. ALLOC
REQUEST
CITY STAFF
C.D. BOARD
ED COMMITTE
CITY COMM.
PROJECT DESCRIPTION
TA
'
From Previous Page
7 300,000
; 2.4 66,012
350,000
; 8 00.000
360,000
; 3 00,000
1 Rafael Hernandez Housing
; 50,000
$ 75,000
$ - 50,000
; 90,000
; 50,000
; 50,000
CDC Admin.--New housin --10 units
CW
MD
and Economic Devel. Co
Single -Family homes in Alla attah
and W nwood--UM
2 Rafael Hernandez Housing
-
$ 125.000
HOME PROG.
$ 110,000
; -
HOME PROG.
Construction funding for development
CW
MD
and Economic Devel. Corp,
of 10 units --Sin le -Family Homes In
Alla attah and W nwood--UM
3 CODEC, Inc. _
; 50,000
$ 65,000
$ 50,000
$ 65,000
; 50,000
; 50,000
CDC Admin.-New housing--146 units
CW
M
Section 202 Housing Project in
Little Havana --Melrose Townhomes
Project in All attah--UM
4 Tocolc Economic Devel.
--
; 500,000
HOME PROG.
S -
; -
HOME PROG.
Rehab. Funding Assistance for
MC
5
Corporation
Edison Towers Project
5_ Tacolcy Economic Devel.
--
; 50,000
; -
; -
; -
$ -
CDC Admin. HousingRehabilitation
MC
5
Corporation
of Edison Towers Project -UM
Model City
-
6 Urban League of Greater
; 50,000
$ 100,000
$ 50,000
$ 100,000
; 50,000
; 50,000
CDC Admin.--New Housin -A34 units
MC
5
Miami, Inc.
Ingle -Family homes in Model City --UM
7 St. John Community Devel.
; 50,000
; 120,000
$ 50,000
_
; 50,000
; 50,000
HOME PROG.
CDC Admin. Funded; 50,000 under HOME prograrnm (See
OT
Corporation
page 14 of 15 # 5) Overtown UM
Housing Project in Overtown--UM
8 SEOPW Re -Development
$ 450,000
; 379,900
; 379,900
; 379.900
; 379,900
Administrative funding for the provision
DT&OT
2&5
CRA
of technical assistance to CDCs and
developers in connection with the
_
development of 244 homeownership
_
housing units in Overtown for UM
-
families -- -
---
9 Tri-City Community
S 100,000
S 1 44,494
; 100,000
S 150,000
$ 115,000
; 115,000
Home improvementirehabilitation of
Association, Inc.
35 Single -Family homes, owner/occupied
_CW
_MD
units for UM city-wide
0 -City Community
--
; 44,591
$ -
; 60,000
- -
$ -
--
; -
-
Housing weathertzation for 30 home--
CW
MD
Association, Inc.
owners --UM city-wide
SUB -TOTAL
$ 1,060,000 1
; 4,069,997 1
; 1,029,900
; 1,466,000 1
$ 1,044,900
; 994,900
4/17/98
J.A.R.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 6 of 15
ffNo.
PROJECT NAME:
From Previous Pa a
Basic TralnIn
fCUR�.ALLOC
60,000
-
REQUEST
4,069,997
$ 408,500
CITY AFF
1,0 99,900
HOMELE88 T
C.D.BOARD
1,455,000
$ 50,000
D COMMITT
1,044,900
$ -
C TY CO
994,900
HOMELESS T
PROJECT DE8CRIPTION
Di.
TA
Fundingfora uisition/rehabilKation of
OT
5
structure located at 900 NW 7th Avenue
for provision of housing for 50 -100
22
23
BAMEge
merit Corp.
of SoInc.
GAMEent Co
of South Florida, Inc.
$ 50,000
-
3 50,000
$ 400,000
$ 50,000
OME PROG.
$ 50,000
$ 55,000
$ 50,000
HOME PROG.
HOME PROG.
HOME PROG.
homeless individuals in Overtown
CDC Admin. Funded $ 50,000 under HOME rogram. (See
OT
5
45-unk New Ho a/Overtown Housing
page 14 of IS.* 5) Overtown UM
Construction funding for rosed New
OT
5
Hope Man Elderly Housing ro ect for
24
Model HousingCooperative, Inc.
--
$ 99,603
$ 50,000
3 -
$ 00,000
40 - 80 elderly Individuals, located at
-
240 - 243 NW 9th Street-UM--Overtown
CDC Admin.-New construction--32-unit
--CH—
3
Villa Dr. Godo Condominlumproject--UM
25
Greater Miami
Neighborhoods, Inc.
$ 50,000
$ 100,000
$ 50,000
$ 100,000
$ 90.000
Little Havana
Funding to Provide technical assistance
and caPacity building to various CDCs
CW
MD
In connection with the construction/rehab.
28
27
Town Park Plaza North, Inc.
Town Park Village No. 1, Inc.
g
-
_
$ 1,250,000
$ 1,500,000
HOME PROG.
HOME PROG.
$ 50,000
$ 50,000
HOME PROD.
HOME PROG.
HOME PROG.
HOME PR .
of 700 units of affordable housing for UM
—
5
cit -wide
Funding for rehabilitation of 169-unit
OT
Town Park Plaza North pmject. Painting,
electrical, plumbing, A/C units, sidewalk
landscaping--UM--Overtown
Funding for rehabilitation of 151-unit Town Park Village No. 1
Project Roofing, electrical plumbing, A/C units
OT
5
d
7a
Housing Opportunity Proj.Excel.
$ 55,000
$ 65.000
$ 50,000
$ 50,000
$ 50,000
MD
To provide Fair Housing Information & Reference Service
CW
SUB -TOTAL HOUSING
$ 11,215,000
$ 7 941 100 I
$ 1.229,900
$ 1,730,000
$ 1,244,900
98-40.1 98 -1181 4/17/98
J.A.R.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 7 of 16
No.
PROJECT NAME:
CUR.ALLOC
REQUEST
CITY STAFF
C.D.BOARD
ED COMMITTE
CITY COMM.
PROJECT DESCRIPTION
TA
Di
From Previous Page
T 1,215,000
7,941,100
; 1,229,900
1,730,000
1,244,900
; 1,194,900
28
New Washington Heights
Community Development
--
$ 50,000
; -
$ 50,000
$ 50,000
$ 50,000
CDC Admin.-New Housing--56-unit
townhomes--Overtown Courts --UM
OT
5
Conference, Inc./New Concepts
Overtown
Housing, Inc.
29
New Washington Heights
Community Development
$ 1,300,000
HOME/SHIP
; -
HOME/SHIP
HOME/SHIP
Construction funding for the development
of 56 townhomes--Overtown Courts --UM
OT
5
Conference, Inc./New Concepts
Overtown
Housing, Inc.
30
City-wide Code Enforcement
(NET)
$ 900,000
$ 900,000
$ 900,000
$ 77,000
$ 900,000
$ 900,000
City-wide Cpde Enforcement, zo nq and
sanitation code to reduce slum and blight
CW
MD
UM --city-wide --
31
City-wide Lot Clearance (NET)
$ 150,000
$ 300,000
$ 200,000
$ -
$ 100,000
$ 200,000
Cit -wide clearing of overgrown lots
CW
MD
UM--cit -wide
32
City-wide Residential Paint
Program NE
-
$ 45,000
$ 45,000
$
$ -
$ -
Facade/Palnting Assistance to UM
homeowners for painting single-family
CW
MD
homes city-wide
33
_
City-wide Prevention of
Sub -Standard Building/Demoli-
tion Program
$ 200,000
$ 350,000
$ 200,000
$ 50,000
$ 100,000
$ 100,000
Funding for removal of unsafe structures in
neighborhoods --UM city-wide
CW
M►'
34
HABITAT For Humanity of
Greater Mlaml
$ 25,000
$ 50,000
$ 50,000
$ 40,000
$ 40,000
$ 56,000
CDC Admin. New Housing
-
10 Single -Family homes In Little Haiti
ELR
5 1
I
--
UM --Edison Little River
35
Metro Design and Development
Group
--
$ 997,516
$ -
$
$ -
$
Funding for the acquisition/rehab. of
20 Single -Family homes for UM
CW
MD
�6
OEEDCO, Inc. -
$ 100,000
$ -
$
$
$ -
homeownership --CDC Admin. city-wide _
CDC Admin.--New housing/rehabilitation
DT
2
3T
DEEDCO, Inc.
$ 551,000
Withdrawn
Withdrawn
Withdrawn
Withdrawn
---------
of 248 housing units In Downtown --UM
Funding for rehm ab./conversion of 120•roo
---
D_T
-----
2
---
-
Royalton Hotel Into 50 rental units for UM -
Downtown -- - - ---
SUB-TOTAL
$ 2,490 000
$ 12,584 616 1
$ 2,624 900 1
$ 1,947,0-00_1
$ 2 434,900 1
$ 2,494 900
4/17/98
JAR.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 8 of 15
No.
38
PROJECT NAME:
From Previous Page
DEEDCO, Inc.
CUR.ALLOC
2,490,000
—
REQUEST
12,584,6187
$ 50,000.00
CITY STAFF
2,6 44,900
HOME PROG.
C.D.BOARD
7 1.9 77.000
$ -
ED COMMITTE
2,4 44.900
HOME PROG.
CITY COMM.
2,494,900
HOME PROG.
PROJECT DESCRIPTION
Funding to defray pre -development activities
IOTE
Dist.
DT
2
associated with proposed 120-unit
39
DEEDCO, Inc.
—
$ 800,000.00
HOME PROG.
$ -
HOME PROG.
HOME PROG.
Rok Tower Project UM --Downtown
Funding for land acquisition of parcel
DT
2
located at 400 Block of NW 4th Street
for the development of a 78-unit
J40 -wide Multi-Famfl Housing
hab. Program "
$ 500,000
$ 1,500,000
MORATORIUM
$ -
MORATORIUM
MORATORIUM
Miami River Village project UM --Downtown
Funding for he rehabilitation of 100
sub -standard apartment units —UM
CW
MD
city-wide
-wide Single-Famfl Housing
Rehab. Program
$ 000,000
$ 1 0000,000
$ 500,000
$ -
$ 500,000
$ 500,000
Funding for the rehabilitation of
54 sub -standard Single -Family homes —UM
CW
MD
city-wide
42
Cityof Miami Department of
Planning and Development
—
$ 30,000
$ -
$ -
$ -
$ -
Funding for reparation of manual of
housing units at least 40 years old, to
Encourage owners to rehab/improve their
CW
MD
43
Jubilee Community
Development Corporation
--
$ 200,000
HOME PROG.
$ 1 00,000
HOME PROG.
HOME PROG.
properties
Project construction funding for 30-unit
Jubilee Villas Housing Project in
LH
3
44
Jubilee Community
Development Co oration
--
$ 65,000
$ 50,000
$ 35,000
$ 35,000
$ 50,000
Little Haverra--UM
CDC Admin. New Housing for four (4)
housingprojects planned In the City
CW
MD
9
Senior Crime Prevention and
Victims Assistance
$ 55,000
$ 60,754
$ 55,000
$ 80,000
$ 55,000
$ 55,000
totalling 389 units city-wide
Home securit installation for
elderly/handicapped--UM--city-wide
CW
MD
--
—
48
Town Park Plaza - South
SUB -TOTAL HOUSING
$ -
$ 3 545 000
$ 500,000
$ 17,290,370
$ -
$ 3 229 900
$ 50,000
$ 2,192,000
$ -
$ 3,024 900 1
$ -
$ 3,099,900
To provide safe, sound and decent housing improvements.
OT
5 _
_ `
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOUSING PROJECTS
Page 9 of 16
No.
PROJECT NAME:
From Previous Page
OJ RCTS SYIMIUED
U G E RIO
CUR.ALLOC
3,646,000
a
$
REQUEST
T 17,290,370
; 150,000.00
CITY STAFF
T 3,2 99,900
; 55,000
C.D.BOARD
; 2,1 22,000
; 1 00.000
D COMMITT
3,024,800
; 100,000
CITY COMM
; 3,099,900
; 100,000
PROJECT DESCRIPTION
TO ASSIST IN ACQ.OF SITE & PRE-DEV. COST OF A 30
TA
47
Mt. Zion Development Inc.
UNIT PROJECT AT NW 3rd AV BETWEEN 10 & 11 ST.
OT
5
48
Jubilee Com. Dev. Corp.
; -
; 857,143.00
HOME PROG.
; -
HOME PROG.
HOME PROG.
FOR CONSTRUCTION OF NEW SINGLE FAMILY HOMES
—
ON CITY OWNED PARCELS 5
CW
ML
49
Greater Miami Neighborhoods Inc;
-
; 1,100,000
OW/
Oeyo.em
FOR CON RUCTION OF 100 UNIT TEQUESTA KNOLL
mpprovN HOMe
approved HOW
APARTMENTS AT NW 14th ST AND 16th AVE.
AL
1
IYMM
hMN
50
Word of Life Comm. Dev. Corp.
; -
; 100,000
; 25,000
$ 150,000
; 100,000
; 100,000
CDC ADMIN.& TO REHABILITAE SUBSTANDARD SINGLE
OT/
5
AND MULTIUNIT HOUSING IN OVERTOWN & MODEL C.
MC
51
224 Housing Coop.
; -
; 375,000.00
$ -
; 370.000
; -
TO REHAB A 9 UNIT BUILDING AT 224 NW 12 ST.
OT
5
52
Greater Miami Neighborhoods Inc$
-
a 1,896,436.00
HOME PROG.
$ -
HOME PROG.
HOME PROG.
FOR CONSTRUCTION OF A 150 UNIT AT 23 ST& NE 2 A
WY
9
b3
Comm. Redevelopment Agency
; -
; 450,000
; 100,000
; 350,000
S 3 00,000
; 1 00,000
TO ASSIST IMPLEMENTATION OF LAREDO, TEXAS PLAN
54
East Little Havana CDC
; -
; 700,000
HOME PROG.
; -
HOME PROG.
HOME PROG.
IAMI TARGET AREAS
IN !DEVELOP
TO A 45 UNIT LATIN QUARTER SPECIALTY CT
CW
LH
_
MD
355
East Little Havens CDC
; -
; 335.570
Repeated. See
; -
Repeated. See
Repeated. see
CDADMINIST. NEW 140 HOUSING UNITS TRAINING PR
LH
3
56
East Little Havana CDC
$
; 200,000
HOME PROG.
; -
HOME PROG.
page 7
HOME PR G.
FOR DEVEL. 15 UNIT "RIVERSIDE GARDEN" PROJECT
LH
3
57
East Little Havana CDC
; -
; 1,000
00
HOME PROG.
s
HOME PROG.
HOME PROG.
FOR DEVEL. 80 UNIT "CASA GRANDE COND." PROJECT
LH
3
58
Community Redevelopment Agcy
;
$ 262,322
HOME PROG.
;
HOME PROG.
HOME PROG.
FUNDED UNDER HOME PROGRAM. See page 14 of 15 fl6
T/D
MD
(a) Projects must: 1) reduce operating expenses of the City or 2 Increase tax base.
— - -- — --- -
-
TOTAL HOUSING ; 3,646 000 1 $ 23,464,521 1 ; 3,429 900 1 ; 3,162,
; 3,574,900
$ 3,399,900
-- - --
aa {{)) 4(17/98
JS-4�1J) �� 0AR
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
ECONOMIC DEVELOPMENT PROJECTS
Page 10 of 15
No.
APPL CANT
C R.ALLOC
I REQUEST
CITY STAFF
C.D.BOARD
ED COMMITTE
CITY COMM.
PROJECT DESCRIPTION
TA
Dist.
1
Allapattah Bus. Dev. Authority
$ 80,000
100,000
• • •
100,000
• • •
" • •
""" Administrative Funding
AL
1
2
Better Way of Miami
$ -
$ 287,856
$ -
$ -
$ -
$ -
Equipment Purchase for New Business
CW
MD
3
Coconut Grove LDC
$ 64,250
$ 200,000
" • •
$ 100,000
*" Administrative Funding
CG
2
4
Commercial Facade - NET
$ 100,000
$ 425,000
$ 425,000
$ 200,000
$ 425,000
Commercial Facade for Target Areas
CW
MD
5
Commercial Facade - Planning
$ -
$ 250,000
$ -
Select Business Corridor Facade
CW
MD
6
Community Econ. Opportunity
$ -
$ 75,000
$ -
$ 75,000
$ -
$ -
Business Assistance Administration
OT
5
7
DEEDCO
$ 50,000
$ 70,000
WITHDRAWN
WITHDRAWN
WITHDRAWN
WITHDRAWN
"' Administrative Funding - wrTHDRAWN
CW
MD
8
Downtown Miami ParineWhip
$ 60,000
$ 60,000
"•"
$ -
"""
"•"
"' Administrative Funding
DT
2
9
Edgewater Economic Develo m.
$ 56,000
$ 56,000
"""
$ 56,000
• • "
"" •
"' Administr Ive Funding
WY
2
10
FIU Women Business Center
$ -
S 150,000
$ -
$ -
$ -
$ -
Training Frog. for Low/Mod Income Women
CW
MD
11
Latin Chamber of Commerce
$ 150.000
$ 175,000
$ 150,000
$ 175,000
$ 150,000
$ 150,000
•" Administrative Funding
CW
MD
12
Little Haiti Housing
$ -
$ 66,000
$ -
$ 50,000
$ -
$ -
Administrative Funding for Micro-Ente rise
ELR
5
13
Little Havana Dev. Authority
$ 119,650
$ 120,000
"'"
$ 120,000
*" Administrative Funding
LH
3
14
Metro-Mleml CDC
$ -
$ 100,000
$ -
$ -
$ -
$ -
•"" Administrative Funding
W/A
1
15
16
Miami Capital Dev. Inc.
Miami Capital Dev. Inc.
$ 250,000,
$ -
$ 325,000
$ 200,000
$ 250,000
$ -
$ -
$ -
$ 250,000
$ -
$ 250,000
$ -
"•• Administrative Funding
WorkingCapital Loan Fund
CW
CW
MD
MD
17
New Washington Heights
$ -
$ 50,000
$ -
$ -
$ -
$ -
""" Administrative FundingOT
5
18
Overtown NET City of Miami
$ -
$ 100,000
$ -
$ -
$ -
$ -
Overtown Micro -Loan Program
OT
5
19
20
21
Pierre Toussant H.C.C.
Pierre Toussant H.C.C.
Rafael Hernandez E.D.C.
$ 54,750
$ -
$ 25,000
$ 64,000
$ 50,000
$ 50,000
"""
$ -
'"•
$ 64,000
$ 50,000
$ 50,000
"""
$ -
"""
"""
$ -
"""
*** Administrative Funding
Administrative Funding for Loan Program
*"' Administrative Funding
ELR
ELR
WY
9
5
2
1
22
23
24
25
Small Business Opportunity Ctr.
St. John Community Dev. Corp.
Nei hborhood Jobs Program
Neighborhood Jobs Program
Little Haiti Job Creation Plaza
$ 98,500
$ 50,250
$ -
$ 230,000
$ -
$ 100,000
$ 110,000
$ 350,000
$ 350,000
$ -
"""
" • "
$ 100,000
$ __ -
$ -
$ 95,000
$ 25,000
$ -
$ -
""•
" • "
$ 100,000
$ -
$ 225,000
•""
• • "
$ .100,0 0
$ -
$ 225,000
'""' Administrative Funding
""" Administrative Funding
Business Development Training
First Source Hiring Compliance
Loan/ Grant Program on Job creation
LH
OT
CW
CW
ELR
3
5
MD
MD
5
CBO Incentive Fund
$ 800,000
$ 700,000
$ -
$ 700,000
$ 475,000
--
--
TOTAL ECONOMIC DEV. PROD
1,388,4 0
4 5a3,556
1,625 000
960,000
1,625 000
1,625,000
4/17/98
p
tJ 4 U f� a J.A.R.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
PUBLIC FACILITIES AND IMPROVEMENTS PROJECTS
Page 11 o115
No.I
1
2
3
4
5
8
7
8
9
10
11
12
13
14
15
18
17
18
19
20
21
22
23
24
25
27
28
29
30
31
APPLICANT
ASSOC.FOR DEV.OF EXCEPT.
CENTER FOR HAITIAN STUD
CENTER FOR HAITIAN STUD
CITY MIAMI COMM. REDEV.AG.
CITY MIAMI DOWNTOWN NET
CITY MIAMI FIRE RESCUE DPT
CITY MIAMI NET INTER.ASSIST
CITY MIAMI NET CORAL WAY
CITY MIAMI NET SW COC.GR.
CITY MIAMI NET SW COC.GR.
CITY MIAMI PARKS & RECR.
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PLANNING & D.DP
CITY MIAMI PUBLIC WORKS
CITY MIAMI PUBLIC WORKS
COCONUT GROVE LOCAL DEV
COCONUT GROVE LOCAL DEV
DE HOSTOS SENIOR CENTER
DEEDCO
EDGEWATER EC. DEV.CORP
FLORENE LIT. ICCT DANCE Co
GREATER MIAMI SERVICE C.
HAITIAN AMERICAN FOUNDAT,
HAITIAN AMERICAN FOUNDAT.
HOPE CENTER INC
SUB -TOTAL
CUR.ALLOC
$ -
$ -
$ 125,000
$ 440,428
$ . -
s 483,000
$ 450,000
$ -
$ 300,000
s 30,000
$ 950,000
$ -
$ -
$ -
$ -
$ -
$ -
$ 370,000
$
$ -
$ -
$ 256,000
s -
$ 180,950
$ 155,000
$ -
$
$ 75,000
s
s 125,000
S
3,934,378
REQUEST
S 80,000
$ 150,000
$ 225,000
$ 440,428
$ 33,000
$ 500,000
$ 250,000
$ 250,000
$ 500,000
$ 30,000
$ 800,000
$ 150,000
$ 18050
$ 300,000
$ 240,000
$ 25,000
s 150,000
s 250,000
$ 40,000 1
$ 400,000
$ 100,000
$ 585,000
s 1,000,000
$ 200,000
$ 400,000
S 100,000 1
$ 77,000
$ 172,000
S 200.000
$ 140.000
s 35,000
s 7,987,078
CITY STAFF
-
$ -
$ -
$ -
3 -
S 250.000
$ -
.s -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
s -
$ -
$ -
$ -
s -
s -
s -
$ -
$ -
$ -
$ -
$ -
$
a -
$
s 250,000
C.D.BOARD
s 80,000
$ 130,000
$ 200,000
$ 33,000
s -
$ -
$ -
$ 250,000
$ 30.000
$ -
$ -
$ -
s -
S -
$ -
$ -
$ -
$
s -
$ -
$ 300.000
$ -
$ -
$ 75,000
3 _ -
$ 50.000
s 100,000
s 100,000
a 50,000
s 10,000
1,388,000
D COM ITT
50,000
$ -
s -
$ -
$ -
$ 200,000
$ -
$ -
$ -
$ -
s -
$ -
$ -
s -
$ -
$ -
$ -
$ -
$ -
S -
s
3 -
$ -
$ -
$ -
S -
$ -
s -
$
$ -
$ -
$ 250,000
CITY COMM.
50,000
$ -
$ -
a 4 00,428
$ -
$ -
$ -
$ -
$ 250,000
s -
-$.
$ -
S -
3 -
$ -
s -
s -
$ -
$ -
$
s -
s
$ -
$
s
S -
$
s
$ -
$ -
$ -
$740,428
PROJECT DESCRIPTION
TO BUILD A PROFESSIONAL TRAINING KITCHEN
PURCHASE & REHAB A HOUSE FOR HAITIAN R/A YOUTH
COMPLETION OF PURCHASE & REPAIR CHS PROPERTY
TO MEET SECTION 108 LOAN GUAR.DEBT SERVICE
TO CREATE MEMORY ASPIRATION THRONES 18' HIGH
FIRE STATION RENOVATION
INTERIM ASSISTANCE SPECIAL REMOVAL OF TRASH
NET OFFICE AT SHENANDOAH PARK
COMPLET RECREATION CENTER AT VIRRICK PARK
WEST GROVE LANDSCAPING BEAUTIFICATION PROJEC
TARGET AREA PARKS IMPROVEMENT
SIGNAGE PROGRAM FOR THE MIAMI DESIGN DISTRICT
18th STREET FISHING PIER DESIGN AND CONSTRUCTIO
LITTLE HAITI NE 2nd AVE. COMM. CORRIDOR ENHANCE
15th AVENUE IMPROVEMENT MIAFRICA BOULEVARD)
PALM GROVE PEDESTRIAN STREET LIGHTING
DESIGN AND CONST.PEDESTRIAN, BICYCLE & MOTOR P
ITOWER THEATER REHABILITATION PROJECT
TOWER THEATER INTERPRETIVE CENTER DESIGN
TO PROVIDE MODERN SAFE SIDEWALKS FOR AREA
NE 25th STREET IMPROVEMENT PROJECT
LAND ACQUISITION FOR GOOMBAY PLAZA
CREATION OF A COLLABORATION WITH PARKS/POLICE
TO PURCHASE BUILDING FOR DHSC FOR HEALTH/OTHEi
NE 79th ST MEDICAL CLINIC OFFICE BLDG.PRE-DEV COS
NE 25th STREET CURB & SIDEWALKS IMPROVEMENT
TO RENOVATE & RECONFIGURE FLOOR SPACE DANCE
REHAB OF PUBLIC FACILITIES AS JOB TRAINING __
TO PURCHASE BUILDING FOR COMMUNITY CENTER
EXPANSION OF CREOLE MARKETPLACE
TO REPLACE TILES IN THE KITCHEN AND CARPETING
---- - - -- -
TA
CW
ELR
ELR
OT
DT
CW
Discs.
MD
5
5
5
2
My
MI
3
CW
LH
CG
2
CG
2
CW
ELR
WY
ELR
MC
ELR
MD
• 5
2
5
5
5
LH
LH
LH
ELR
_WY
CG
CG
3
2
5-�
2
2
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1NY
Of
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ELR
ElR
LH
2
5
2
5
MD
5
5
3
- __
1 8 - 4 U
4/17/98
JAR.
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
PUBLIC FACILITIES AND IMPROVEMENTS PROJECTS
Page 12 of 15
INO.1
32
33
34
35
36
37
38
39
40
41
APPLICANT
From Previous Page
IGL.LA NUEVA JERUSALEM
INNER-CITY SPORTS
MARTIN LUTHER KING EC.DEV
MIAMI BEHAVIORAL HEALTH C
MIAMI DOWNTOWN DEV,AUTH
MODEL HOUSING COOPERAT.
OMNI ADVISORY BOARD
OMNI ADVISORY BOARD
OVERTOWN ADVISORY BRD.
SPRING GARDEN CIV ASSOC.
SUB -TOTAL PUBLIC FAC. & IMPR.
I CUR.ALLOC.
$
$
$
$
$
$
$
$
$
$
is
$
3,934,373
-
-
-
25,370
1,000.000
-
-
-
-
-
4,959,748
$
$
$
$
$
$
$
$
$
$
$
REQUEST
7,987,0787
500,000
600,000
4 00,000
224,260
1,000,000
100,000
345,000
2 55,000
79,000
20,000
11.680.328
CITY STAFF
2 00,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 250,000
C.D.BOA D
$ 1,388,000
$ -
$ 110,000
$ 3 00,000
$ 70,000
$ -
$ -
$ 345,000
$ 275,000
$ 25,000
$ 10,000
$ 2,813,000
D COMMITTEI
$ 2 00,000
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 10.000
$ 280,000
CITY COMM.
7 7 00,428
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ -
$ 10,000
$ 750,428
PROJECT DESCRIPTION
ACQUISITION OF FACILITYU FOR DAY CARE CENTER
TO RENOVATE OLD DORSEY LYBRARY BLDG
COMMERCIAL PROPERTY REVITALIZATION ELIM.BLIGHT
BEHAVIORAL HEALTH SPACE DEVELOPMENT
FLAGLER MARKETPLACE STREETSCAPE
BUILD 2 OFFICES AND 32 HOUSING UNITS
SIGNS FOR ARTS & ENTERTAINMENT DISTRICT GATWY1
PEDESTRIAN/SAFE-ZONE AT OMNI BAYSIDE
RENOVATION AND UPGRADING OF OAB OFFICE
TO DEVELOP A PARK IN UNIMPROVED LOT 1094 NRD
TA
Dist.
DT
CW
MC
MD
5
CG
2
DT
2
LH
3
DT
DT
OT
OT
2
2
5
5
SUBMITTEDDURINGF
NSIONPERIOD! I
Citywide Streets & Sidewalks $ 2,920,850 $ - $ 2,289,660 $ 2,250,422
DORSEY LIBRARY RESTOR. $ - $ 100,000 $ - $ - $ - $ - RESEARCH AND SURVEY EXPENSES FOR LIBRARY BLD
EDISON/LR STREET IMP.PH.2 $ - $ 1,560,000 $ - $ - $ - $ - TO PROVIDE MODERN STREET SYSTEM WITHIN E/LR TA
MODEL CITY STREET IMPROV. $ - $ 775,000 $ PROVIDE STREET IMPROV- RESURF,CURBS, SIDEWALK
ORANGE BOWL FIELD IMPROM $ - $ 60,000 $ - $ - $ - $ - TO INSTALL SOD OVER PORTON OF FIELD AND FENCE I
MIAMI POLICE TRAIN. CTR.DE $ - $ 615.594 Ineligible $ - $ - $ - ARCHITECT DESIGN COST OF NEW TRAINING CENTER
WATER TREATMENT ALL POO $ - $ 135,000 Ineligible $ - $ - $ - OZONE WATER TREATMENT IN CITY POOLS & METERS
CEMENTERY LIGHT & FENCIN $ - $ 110,000 $ - $ 110,000 $ - $ - INSTALLATION COST OF STEEL PICKET FENCE & LIGHTE
AIR CONDIT.REPLAC.CITY FAC $ - $ 1.149,000 Ineligible 1 $ - $ - ENERGY EFFICIENCY A/C SYSTEMS AT VARIOU S LOCA
MODEL CITY STREET IMP.PH.2 $ - $ 2,040,000 $ - $ - $ - $ - TO PROVIDE MODERN STREET SYSTEM WITHIN MODEL
ALLAPATTAH STREET IMP.PH2 $ - $ 2.985,000 $ - $ - $ - $ - TO PROVIDE MODERN STREET SYSTEM WITHIN ALLAPA
ORANGE BOWL RAMP REPL. $ - $ 250,000 ineligible $ - $ ITO REPLACE 4 RAMPS AT OB STADIUM FOR PUBLIC ACC
LQ CALLE 8 CORRIDOR IMPR. $ - $ 300,000 $ - $ - $ - $ REPAIR CITY OWNED LIGHTING FIXTURES IN CALLE 8
LATIN Q. SPECIALTY CTR. $ - $ 900,000 $ - $ - $ - $ - ECONOMIC AND PUBLIC FAC. IMPROV.
C.GRANDE PRJ.E.D. & P.F. $ - $ 350,000 $ - $ - $ - $ - ECONOMIC AND PUBLIC FAC. IMPROV.
OVERTOWN CULT. CTR. PLAN $ - Is 50,000 $ - $ - $ 7,500 $ - PLANNING, DESIGN, LAND ACQ. STUDY. UNDER 206A
Miami Comm. Police Benev. A. $ - $ 174,699 $ - $ 174,899 $ - $ - ACQUIRE/RESTORE HIST BLDG;IST "BLACK PRECINCT"
RESERVED FOR COMMISSION $ - $ - $ $ - $ 500,000 $ RESERVE FOR CITY COMMISSION -
224 Community Train. Bk1 . $ - $ - $ - $ - $ - $ 200,000 IREHAB OF 224 NW 12 ST FOR COMMUNITY TRAINNING
TOTAL PUBLIC FAC. & IMPROV. $ 4 859 T48 22 958 922 $ 3,170,850 $ 2.89 7,699 $ 3,057 160 $ 3,200 850 - - -
recommended allocation for Ci of Miami Street and Sidewalk Improvements to be roportionally allocated among the eight (8) Target Areas by Public
must: 1) reduce o erath i expenses of the Cityof Miami, or 2 Increase Its tax base. - - ---Works.---- --- - -
not meet City requirements in a above. -- --- -
OT
ELR
MC
5
5
5
42
43
44
45
46
47
48
49
50
51
52
53
54
5.%
6
57
58
59
The
a) Projects
" Do
CW
MD
CW
CW
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5
- -
_
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--
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- -
----
5
---
4117/98
J Q _ 4 0;� 0.A.R.
V
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
GRANT ADMINISTRATION
Page 13 of 15
INo.1
PROJECT NAME:
CUR.ALLOC
REQUEST
CITY STAFF
C.D.BOARD
D COMMITTE
CITY COMM.*
PROJECT DESCRIPTION
TA
D
1
GRANT ADMINISTRATION
$ 3,056,000
$ 3,131,000
3,131,000
3,131,000
37131,000
MANAGEM, MONITORING BUDGETING AUDITING & HUD
ADMINISTRATION TOTAL
3,056,000
3,1 11,000
1 3,1 11,000
T
3,131,000
T 3,1 11,000
CDBG FUNDS GRAND TOTAL
= 16 214148
$ 63,393,666
$ 13,705,000
$ 9,332,949
$ 13,705,000
$ 13 705 000
CDBG TOTALS
r
ALLOCATION
CITY STAFF REC
CD BOARD REC.
ED COMMIT REC
CITY COMM REC
' Statutory Cap: 15% of
$ 15,655,000=
i 2,348,250
i 2,348,260
i 2,313,260
i 2,310.940
$ 2,348.250
PUBLIC SERVICES AND SOCIAL PROGRAMS
• No Cap
i 1,626,000
$ $60,000
i 1,426,000
i 1,626,000
ECONOMIC DEVELOPMENT AND COMMERCIAL REHABILITATION
' No Ca
i 3,429.900
i 3,162,000
i 3,574,900
$ 3,399,900
HOUSING
' No Cap
i 3,170,860
i 2,897,699
$ 3.057,160
i 3,200,860
PUBLIC FACILITIES IMPROVEMENTS
• Statutory Cap : 20% of $ 15,655,000=
i 3,131,000
i 3,131,000
i -
i 3,131,000
i -
ADMINISTRATION
i 6,479,250
i 13.705,000
i 9,332,90
i 13,705,000
i 10,674,000
Estimatedm Program Income 199t-tttt:
-
GRANT AMOUNT
F.Y.1917.1gt
F.Y.1991-1999
Difference
' i 5,000,000
CDBG ESTIMATED PROGRAM INCOME to be allocated as follows:
COMM. DEV. BLK. GRANT (CDBG)
13,106,000
12,655,000
$ (451,000)
i 1.5 Million for Housing Rehabilitation Loan Progran
HOME INVESTMENT PART. (HOME)
$ 4,203,000
$ 4,520,000
$ 317,000
Including Project Delivery Cost
_
EMERGENCY SHELTER O. (ESQ)
$ 346,000
$ 501,000
$ 155.000
i 1.4 Million for Mlnrd Capital Development Inc. Including
HOUSO.OPP. FOR P. AIDS (HOPWA)
$ 8,832,000
$ 7,732,000
$ (1,100,000)Project
_
Delivery Cost
.a
i 100,000 City of Miami Building Danalfllon activities.
GRAND TOTAL
$ 26,487.000
$ 25,408,000
$1,079,000
200,000
HOME ESTIMATED PROGRAM INCOME 1998.2000
_
"Note: The amount used for calculation of Social Programs and Administration caps Is the 1998-1999
CDBG allocation
: $12,655,000 plus Estimated CDBG Program
Income: " $ 3,000,000= $15,655,000. " I
I
I----
--
I
I I I
- I
I
-- I
- - J
C� a 4/17/98
( tJ�1 J.AR,
1998-1999
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
24th YEAR PROJECT PROPOSALS
HOME INVESTMENT PARTNERSHIP PROGRAM (HOME)
Page 14 of 15
No.
1
APPLICANT
HOME Mufti -Family New Const.P
CUR.ALLOC
$ 1,000,000
REQUEST
1,000,000
CITY STAFF
i 1,1 55,000
C-D. OARD
1,1 55,000
ED COMMITTE
1,1 55,000
CITY COMM.
PROJECT DESCRIPTION
Provides financial assistance to rivate develo ers and CDC's
for new housln development.
Provides financial assistance to private developers for housln
rehabilitation of multifamily rental buildings See Note)
Provides first and/or second mortgage financing to new home
buyers
Provides financial assistance to CHODO's for the develo m.
of affordablWhousing units
CDC Administration. New Housing 21 Units Rafael Paza UM
CDC Administration. New Housing 18 Units Barcelona P UM
CDC Administration. New Housing117 Units Overtown TH U
CDC Administration. New Housing 45 Units Overtown TH UM
Homebu er re-qual program to assist OT homebu ers
Housing delivery cost of implementation of HOME Program
TA
Dim'
Cw
2
HOME Muitl Family Rental Reh
S 1,250,000
$ 1-000,000
S -
S 500,000
5 -
Cw
3
HOME Homebu er's Financing P
5500,000
S 500,000
S 1,000,000
$ 500,000
$ 1,000,000
Cw
4
HOME Comm. Housing Dev.Org.
$ 1,032,700
$ 1,282,700
S 1,943,000
s 1,943,000
S 1,943,000
Cw
5
HOME CHDO Administration Prg
a) Alla atlah Bus. Dev. Author.
b) Florida Housing Coo
c) St. John Comm. Dev. Corp.i
d) BAME Development or
$ 50,000
S 50,000
50,000
$ 50,000
S 100,000
$ 50,000
$ 120,000
S 50,000
$ -
$ -
$ -
$ -
$ 100,000
$ 50,000
$ 50,000
$ 50,000
$
$ -
$ -
$ -
AL
1
LH
OT
3
5
OT
5
8
HOME Homebuyers Pre-Qualif.
a Community Redevelop Agency
$ -
S 262,322
a -
a -
a 262,322
OT
-T
HOME Program Administration
S 420,300
S 420,300
S 452,000
$ 452,000
$ 452,000
Note: At the March 10 Public
Hearing, Staff recommendations
were modified to move the
$500,000 allocation from 02 to
TOTAL HOME PROGRAM
4,403.000
4,785.322
4,520,000
4,770,000 1
$ 4,782,322
Program In
i 200,000 eatlmated program Income to be re -allocated
-
--
In HOME eligible activities -- ---- -
- — — ---
A a 4/17/98
J8-40Na44� JA.R.
CITY OF MIAMI
DEPARTMENT OF COMMUNITY DEVELOPMENT
1988-1999 PROJECT PROPOSALS
HOUSING OPPORTUNITIES FOR PERSONS WITH AIDS PROGRAM (HOPWA)
Page 15 of 15
No.
I APPLICANT
CUR.ALLOC
CITY STAFF
HOPWA BRD
ED COM ITT
CITY COMM.
PROJECT DESCRIPTION
TA
Dist.
1
Short Term Mortg/Rent Assist.
1,215,478
1,312,894
1.3 22,894
Provide short term emergency housing assistance (rent) to
eligible HIV/AIDS households.
CW
2
Long term rental assistance
$ 5,556,473
$ 4,637,853
$ 4,637,653
Provides rent subsidies to eligible HIV/AIDS households
CW
3
Housing Quality Standards Insp.
$ 108,187
$ 87,372
A 87,372
Inspection of housing units as required by US HUD
CW
4
Moving Expense Assistance
$ 54,093
$ -
$ -
Provides assistance to persons with HIV/AIDS w/ moving exp
CW
dr
5
Resource Ident. Dev.l PIan.Coord
$ 162,280
$ 105,155
$ 105,155
To develop capacity to Identify housing needs of HIV househl
CW
6
Utilities Assistance
$ 665,619
$ 5 99,075
$ 569,075
To ssist HIV/AIDS hshlds. with connection fees for utilities
CW
7
Fair Housing Assistance
$ -
$ -
$
For legal representation in eviction & housing descrim. cases
CW
8
Operating Subsidies
$ 540,934
$ 350,260
$ 350,260
Funding for support services for clients living Independently
CW
9
Emergency Housing Assistance
$ 231,520
$ 306,187
$ 306,187
For emergency housing assistance to HIV/AIDS households
CW
10
Special Needs
$ -
$ 1 11.444
$ 131,444
For special needsassistance to HIV/AIDS hoseholds
CW
-il
HOPWA Program Administration
$ 264.960
$ 231,960
$ 231,960
Delivery cost for Implementation of HOPWA program
i2
Permanent Housing
$
$ -
$
-For
jpng term living assistance to HIV/AIDS hoseholds
CW
SUB -TOTAL
$ 8,799,544
$ 7,732,000
$ 7,732,000
- ---—
---
Assistance to Cure Aids Now •
$ 32,458
$ -
$ -
---
---
--
South Florida Jail Ministries •
$ -
$ -
$ -
TOTAL HOPWA PROGRAM
8,832,000
7,732,000
7,732,000
-
J g
-40, 4 JAR,.A.R.
J-98-271
4/ 14/98
RESOLUTION NO. 9 8 — 4 0 241
A RESOLUTION, WITH ATTACHMENT, AUTHORIZING THE
SUBMITTAL OF THE CITY OF MIAMI'S FY 1998-1999
PROPOSED CONSOLIDATED PLAN, INCLUDING A FY 1998
ACTION PLAN WITH PROJECTED USES OF FUNDS FOR THE
CITY'S COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG),
HOME INVESTMENT PARTNERSHIPS (HOME), EMERGENCY
SHELTER GRANT (ESG) AND HOUSING OPPORTUNITIES FOR
PERSONS WITH AIDS (HOPWA) PROGRAMS TO THE UNITED
STATES DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (USHUD); FURTHER AUTHORIZING THE CITY
MANAGER, UPON APPROVAL OF SAID PLAN AND GRANTS BY
USHUD, TO ACCEPT THE SAME AND EXECUTE THE
NECESSARY IMPLEMENTING AGREEMENTS WITH USHUD, IN
A FORM ACCEPTABLE TO THE CITY ATTORNEY;
AUTHORIZING THE CITY MANAGER TO EXECUTE
INDIVIDUAL CONTRACTUAL AGREEMENTS IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, AND SUBJECT TO
APPLICABLE CITY CODE PROVISIONS, WITH THE
COMMUNITY BASED NEIGHBORHOOD ORGANIZATIONS, AS
APPROVED BY THE CITY COMMISSION, FOR THE PURPOSE OF
IMPLEMENTING NEIGHBORHOOD ECONOMIC
DEVELOPMENT, SOCIAL SERVICES AND HOUSING
DEVELOPMENT PROGRAMS, FOR THE AMOUNTS
SPECIFICALLY APPROVED BY THE CITY COMMISSION, WITH
FUNDS ALLOCATED THEREFOR FROM THE
AFOREMENTIONED GRANTS AND PROGRAMS.
BE IT RESOLVED BY THE COMMISSION OF THE CITY OF 1VIIAN U, FLORIDA:
Section 1. The City Manager is hereby authorized to submit the City of Miami's Proposed
Consolidated Plan for_ Fiscal Year 1998-1999, including a FY 1998 Action Plan with
CITY COMIVIISSION V
MEETING OF a
F '
L `j - ,CONTAINE
i I Resolution No: �y�.
recommended funding projections for the City's Community Development Block Grant (CDBG),
HOME Investment Partnership (HOME), Emergency Shelter Grant (ESG) and Housing
Opportunities for Persons with Aids (HOPWA) Programs, and a grant application for the four
specified programs, to the U. S. Department of Housing and Urban Development (USHUD).
Section 2. The City Manager is hereby authorized, upon approval of the Consolidated
Plan and grants by US HUD, to accept and execute the necessary implementing agreements, in a
form acceptable to the City Attorney.
Section 3. The City Manager is further authorized' to execute individual contractual
agreements, in a form acceptable to the City Attorney, with the community based neighborhood
organizations, as approved by the City Commission, for the purpose of implementing
neighborhood economic development, social services and housing development programs, for the
amounts specifically approved by the City Commission, with funds therefor allocated from the
aforementioned Community Development Block Grant, HOME Investment Partnerships Program,
Emergency Shelter Grant, and the Housing Opportunities for Persons with Aids Program..
Section 4. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 14th day of April , 1998.
JOE CAROLLO, MAYOR
ATTEST:
WALTER FOEMAN, CITY CLERK
' The herein authorization is further subject to compliance with all requirements that may be imposed by the
City Attorney, including but not limited to those prescribed by applicable City Charter and Code provisions.
-2- 98-1181
98-402•-- I
SU MITTED QY:
r v \
GWENDOLYIf WA EN
COMMUN�TY DEVELOPMENT
REVIEWED AS TO ACCOUNTING
AND TREASURY REQUIREMENTS:
LOURDES REYES, COMPTROLLER
FINANCE DEPARTMENT
PREPARED AND APPROVED BY
LINDA KELLY REAR ON
ASSISTANT CITY ATTORNEY
LKK/pb/cskW2335
APPROVED AS TO FORM AND
COWC71YESS.
0t `
JO 5 L EDWARD MAXWEL
RIM CITY ATTORNEY
1 Witt Miami Code Sec. 2-38, since the
by �9� it In the des named hAayor did not indicate approve! of
Provided, said :eg.slaticneffectve
with the elapse of ten (10) days from the date of Co ,issicn action
same, WNW the mayor „ ,
er
an, City Clerk
-3-
98-402-1
98-H81
J-98-271
4/ 14/98
RESOLUTION NO. 9 8 -" 4 0 W.
A RESOLUTION, WITH ATTACHMENT, AUTHORIZING THE
SUBMITTAL OF THE CITY OF MIAMI'S FY 1998-1999
PROPOSED CONSOLIDATED PLAN, INCLUDING A FY 1998
ACTION PLAN WITH PROJECTED USES OF FUNDS FOR THE
CITY'S COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG),
HOME INVESTMENT PARTNERSHIPS (HOME), EMERGENCY
SHELTER GRANT (ESG) AND HOUSING OPPORTUNITIES FOR
PERSONS WITH AIDS (HOPWA) PROGRAMS TO THE UNITED
STATES DEPARTMENT OF HOUSING AND URBAN
DEVELOPMENT (USHUD); FURTHER AUTHORIZING THE CITY
MANAGED UPON APPROVAL OF SAID PLAN AND GRANTS BY
USHUD, TO ACCEPT THE SAME AND EXECUTE THE
NECESSARY IMPLEMENTING AGREEMENTS WITH USHUD, IN
A FORM ACCEPTABLE TO THE CITY ATTORNEY,
AUTHORIZING THE CITY MANAGER TO EXECUTE
INDIVIDUAL CONTRACTUAL AGREEMENTS IN A FORM
ACCEPTABLE TO THE CITY ATTORNEY, AND SUBJECT TO
APPLICABLE CITY CODE PROVISIONS, WITH THE
COMMUNITY BASED NEIGHBORHOOD ORGANIZATIONS, AS
APPROVED BY THE CITY COMMISSION, FOR THE PURPOSE OF
IMPLEMENTING NEIGHBORHOOD ECONOMIC
DEVELOPMENT, SOCIAL SERVICES AND HOUSING
DEVELOPMENT PROGRAMS, FOR THE AMOUNTS
SPECIFICALLY APPROVED BY THE CITY COMMISSION, WITH
FUNDS ALLOCATED THEREFOR FROM THE
AFOREMENTIONED GRANTS AND PROGRAMS.
BE IT RESOLVED BY THE COMMIISSION OF THE CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to submit the City of Miami's Proposed
Consolidated Plan for Fiscal. Year 1998-1999, including a FY 1998 Action Plan with
ATTACHMENT
CONTAINED
CITY COUSS:
M
MEETING OF
Apq
A�wlutioa Nw
98-1181
recommended funding projections for the City's Community Development Block Grant (CDBG),
HOME Investment Partnership (HOME), Emergency Shelter Grant (ESG) and Housing
Opportunities for Persons with Aids (HOPWA) Programs, and a grant application for the four
specified programs, to the U. S. Department of Housing and Urban Development (USHUD).
Section 2. The City Manager is hereby authorized, upon approval of the Consolidated
Plan and grants by US HUD, to accept and execute the necessary implementing agreements, in a
form acceptable to the City Attorney.
Section 3. The City Manager is further authorized' to execute individual contractual
agreements, in a form acceptable to the City Attorney, with the community based neighborhood
organizations, as approved by the City Commission, for the purpose of implementing
neighborhood economic development, social services and housing development programs, for the
amounts specifically approved by the City Commission, with funds therefor allocated from the
aforementioned Community Development Block Grant, HOME Investment Partnerships Program,
Emergency Shelter Grant, and the Housing Opportunities for Persons with Aids Program..
Section 4. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 14th day of April , 1998.
JOE CAROLLO, MAYOR
ATTEST:
WALTER FOEMAN, CITY CLERK
' The herein authorization is further subject to compliance with all requirements that may be imposed by the
City Attorney. including but not limited to those prescribed by applicable City Charter and Code provisions.
-Z
98-40Z
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 28
TO Honorable Mayor and Members DATE : MAR 3 _ 1994 FILE
of the City Commission
SUaiECT : Section 108 Loan for
the Citadel Complex
FROM REFERENCES
Ces City Commission Meeting
City4 ger ENCLOSURES. of March 24, 1994
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached Resolution,
authorizing the City Manager to execute a Loan Agreement, Mortgage/Security
Agreement, and Promissory Note, in substantially the attached forms, with the Citadel
Arena Corporation Inc. ("Citadel"), for a $2.5 million loan under the United States
Department of Housing and Urban Development ("HUD") Section 108 Program, and an
Agreement, in substantially the attached form, with Citadel, the Bank of Tokyo, Ltd., for
the purpose of financing the development of a Restaurants/Sports Bar Complex, in the
S.E. Overtown/Park West Community Redevelopment District, at approximately NW 5th
Street and NW 1 st Avenue, Miami.
BACKGROUND:
The Department of Development and Housing Conservation recommends the approval
of the attached Resolution to lend $2.5 Million to the Citadel Arena Corporation Inc. for
the purpose of developing a vacant land and restoring an historic structure in the S.E.
Overtown/Park West District.
On December 10, 1992, the City Commission approved Resolution 92-812, authorizing
the City Manager to submit a loan application to HUD in connection with the financing of
the proposed project. The application was approved by HUD on September 8, 1993,
based on the projects location and its objective to create over 150 jobs.
The proposed loan is structured as a construction loan which will become a mortgage as
the construction is completed. The loan/mortgage shall be paid by the revenues from the
project and the City, as the applicant for the HUD Section 108 Loan, shall pledge its
future Community Development Block Grant entitlements as collateral.
0219-i
$4- 193
98-1181
,J L r l
J-98-43 3
5/1/98
RESOLUTION NO. 9,g - 6 5
A RESOLUTION AUTHORIZING THE CITY
MANAGER TO REALLOCATE $1,435,858 FROM
AVAILABLE COMMUNITY DEVELOPMENT BLOCK
GRANT (CDBG) FUNDS FROM CERTAIN CDBG-
FUNDED PROJECTS AND PROGRAM - INCOME FOR
THE PURPOSE OF FUNDING CDBG ELIGIBLE
_ ACTIVITIES AS SPECIFIED IN SECTION 3 OF THIS
RESOLUTION; ALSO, ALLOCATING $411,611 FROM
THE IMPACT FEE TO DOWNTOWN PARKS AND
$288,389 FROM THE CDBG CONTINGENCY FUND
ALLOCATION AS THE IMPACT FEE MATCH TO
DOWNTOWN PARKS TO THE BAYFRONT PARK
IMPROVEMENTS PROJECT; FURTHER
AUTHORIZING THE CITY MANAGER TO EXECUTE
THE APPROPRIATE LEGAL AGREEMENTS AND
DOCUMENTS, IN A FORM ACCEPTABLE TO THE
CITY ATTORNEY, IN CONNECTION WITH THE
DISBURSEMENT OF SAID FUNDING.
WHEREAS, the Department of Community Development has identified $1.435.959 in
available Community Development Block Grant Program funds from various CDBG projects and
program income accounts which can be re -allocated to provide funding for CDBG eligible
activities that are currently unfunded projects and are identified in this Resolution; and
WHEREAS, the Department of Community Development has identified $411,611 of
Impact Fees to Downtown Parks and $288,389 from the CDBG Contingency allocation as the
Impact Fee Match to Downtown Parks which can be re -allocated to provide funding for projects
identified in this Resolution; and
C'ln COIQass"
KEETLNC oP
MAY 1 2 1998
Resolution flo,
98-- 465
98-118t
Jl, 1 9 -98 FR I 9 28 P 03
WIWAEAS, the City Administration recommends the re -allocation of the
aforementioned funds for the purpose of providing funding in the amount of $2,135,858 to
projects identified in this Resolution;
NOW, THEREFORE, BE IT RESOLVED BY THE COM&IISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
hereby adopted by reference thereto and -incorporated herein as if fully set forth in this Section.
Section 2. Unexpended Community Development Block Grant (CDBG) program
funding from the following CDBG-funded projects and program income accounts in the amount
of $1,435,858, is hereby re -allocated to the projects listed in Section.3 of this Resolution:
Proieci Nam Q—U
1. Miami Capital Loan Program $800,858
2. Multi -Family Housing Rehabilitation Program Income 635-000
Total $1,4359859
Section 3. Unexpended Community Development Block Grant (CDBG) program
funding from the CDBG-funded projects and program income accounts in the amount of
$1,43 5,959 from the projects listed in Section 2, is hereby re -allocated to the following projects:
Protect Name
I . Workforce Development Facility
2. Citadel (FY98)
3. Citadel (FY99
4. Allapattah Produce Marketplace Study
5. Community Enhancement Project • Wynwood Target Area
6. City-wide Residential Paint Program
7. City-wide Lot Clearance Program
8. Micro $usiness Loan Business Program
Total
- 2 -
u 7-
S 230,000
340.429
90,429
15,000
110,000
50,000
100,000
$1,435,8S8
98- 465
98-1.181
JC r'- 1 9-98 FR I
9 : 2 9
Section 4
Impact Fees to Downtown Parks in the amount of $411.611 and the
CDBG Contingency Fund allocation to be used as the Impact Fee Match. to Downtown Parks in
the amount Hof S288,389 are hereby reallocated to the Bay Front Park Improvements Project.
Section S. The City Manager Is hereby authorized' to execute the appropriate legal
agreements'and documents, in a form acceptable to the City Attorney, between'the City of Mardi
and projects identified in this Resolution.
Section 6. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 12th day of NM
ATTEST:
WALTER 1. FOF.MAN, CITY CLERK
CONPALMTY DEVELOPMENT DEPARTMENT
REVIEW ANp *.P)'ROVAL:
GWENDOPYN C. WARREN, DIRECTOR
DEPARTYENT OF COMMUNITY DEVELOPMENT
REVIEWED AS TO ACCOUNTING AND TREASURY
REQUIREMENTS:
LOURDE9 RtYES, COMPTROLLER
DEPARTMENT OF FINANCE
Joe Ctirollo, MAYOR
98-1181
The hearing authorization is further subject to compliance with all requirements that may be
imposed by the City Attorney, including, but not limited to, those prescribed by applicable City
Charter and Code provisions.
3 . 98 -- 465
_.T LEI,— i 9 —99 F'R I 9 29
OFFICE OF BUDGET AND MANAGEMENT
ANALYSIS REVIEW
DIPAK PAR KK
OFFICE OF BUDf
ANALYSIS
pay ,
AND MANAGEMENT
PREPARED AND REVIEWED BY:
04 �4
LINDA K. KEARSON
ASSISTANT CITY ATTORNEY
W2472:CSK:LKK
In amftrw* *101 Mbmi Code Sec. 2,46, slice ttt9 Mayor did rat &4=19 approval at
'ft teglskft by sWmg 6 In the des%piaied PIAW Provided. said leg;. -later
eerames effect with the elapse of ten (10) days from the date of Commjsstcn action
ra�kme g same, *lhout the Mayor exerdeinQa vats. D
Washer Foe . cky clerk
98-- 465
4 bb I i 8 1
J-94-200
3/2/94
RESOLUTION NO.
0V4— 193
A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING
THE CITY MANAGER TO EXECUTE A LOAN
AGREEMENT, MORTGAGE/SECURITY AGREEMENT,
AND PROMISSORY NOTE, IN SUBSTANTIALLY THE
ATTACHED FORMS, WITH THE CITADEL ARENA
CORPORATION INC. ("CITADEL"), FOR A $2.5 MILLION
LOAN UNDER THE UNITED STATES DEPARTMENT OF
HOUSING AND URBAN DEVELOPMENT SECTION 108
PROGRAM, AND AN AGREEMENT, IN SUBSTANTIALLY
THE ATTACHED FORM, WITH CITADEL AND THE BANK
OF TOKYO, LTD., FOR THE PURPOSE OF FINANCING
THE DEVELOPMENT OF A RESTAURANTS/SPORTS BAR
COMPLEX, IN THE SOUTHEAST OVERTOWN/PARK
WEST COMMUNITY REDEVELOPMENT DISTRICT, AT
APPROXIMATELY NORTHWEST 5TH STREET AND
NORTHWEST 1ST AVENUE, MIAMI, FLORIDA.
WHEREAS, the City of Miami is committed to assist private investments
that will create new jobs and remove slum and blight in the designated Community
Development Target areas; and
WHEREAS, the Citadel Restaurants/Sports Bar Complex project
("Project') is located in the Southeast Overtown/Park West Redevelopment District; and
WHEREAS, the proposed Project is a privately initiated effort, revitalizing
the old Citadel Building and developing an adjoining three story building to create a
complex of restaurants and a sports bar; and
WHEREAS, it is quite difficult to finance the proposed Project through
conventional financing means; and
WHEREAS, the developer has requested the assistance of the City to put
together a financing package to undertake the proposed Project; and S 8 - 1 1 8 1
k s
C J.
CM commsrolff
METING OF
MAR 2 4 1994
Ae.olaei= No.
94- 193
WHEREAS, the United States Department of Housing and Urban
Development CHUD") has established the Section 108 Loan program to assist projects
located in the Community Development target areas; and
WHEREAS, repayment of the HUD Section 108 Loan ("Loan") shall be
made by the revenues generated from the Project; and
WHEREAS, the City will use its future Community Development Block
Grant allocations as collateral for the said loan; and
WHEREAS, the City Commission, pursuant to Resolution No. 92-812,
authorized the City Manager to submit an application {"Application") to HUD for a $2.5
Million loan under the HUD Section 108 Loan program; and
1993; and
WHEREAS, said Application was approved by HUD on September 8,
WHEREAS, the Bank of Tokyo, Ltd. ("Bank") currently holds a mortgage
on the property where the Project is contemplated; and
WHEREAS, a separate agreement needs to be executed amongst the
Bank, Citadel and City of Miami in connection with the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
SECTION 1. The recitals and findings contained in the Preamble to this
Agreement are hereby adopted by reference thereto and incorporated herein as if fully
set forth in this Section.
SECTION 2. The City Manager is hereby authorized to execute a Loan
Agreement, Mortgage/Security Agreement, and Promissory Note, in substantially the
attached forms, with the Citadel Arena Corporation Inc., for a $2.5 million loan under the
-2- 94- 193
95-ii8l
United States Department of Housing and Urban Development Section 108 Program,
and an agreement, in substantially the attached form, with the Citadel Arena Corporation
Inc. and the Bank of Tokyo, Ltd., for the purpose of financing the development of a
Restaurants/Sports Bar Complex, in the Southeast Overtown/Park West Community
Redevelopment District, at approximately Northwest 5th Street and Northwest 1st
Avenue, Miami, Florida.
SECTION 3. This Resolution shall become effective immediately upon its
adoption.
PASSED AND ADOPTED this 24th day of March , 1994.
ATTEST:
AATTYRAI, CITY CLERK
PREPARED AND APPROVED BY:
LINDA K. KEARS
ASSISTANT CITY ATTORNEY
25-Feb-94
02:33 PM
-3-
STEIbHEN P. CLARk, MAYOR
APPROVED AS TO FORM AND
CORRECTNESS:
A. QUINN JOI)IE ,
CITY ATTOR Y
(.,
94- 193
98-1181
MORTGAGE AND SECURITY AGREEMENT
This Mortgage made on this day of , 19 ,
by and between CITADEL ARENA CORPORATION, a Florida Corporation
hereinafter called, "Mortgagor", whose address is 2000 South
Bayshore Drive, #62, Miami, Florida 33133 in the City of Miami,
County of Date and State of Florida, and the City of Miami, a
Florida Municipal Corporation, acting by and through the Director
of the Department of Development and Housing Conservation or its
successors, hereinafter called "Mortgagee."
WITNESSETH, that to secure the payment of an indebtedness in
the principal amount of Two Million Five Hundred Thousand Dollars
($2,500,000.00) with interest thereon, which shall be payable in
accordance with a certain Promissory Note, bearing even date
herewith (the "Note"), a true and correct copy of which,
exclusive of the signature of the Mortgagor, is attached hereto
and made a part hereof as Schedule "A", and all other
indebtedness which the Mortgagor is obligated to pay to the
Mortgagee pursuant' to the provisions of the Note and this
Mortgage, the Mortgagor hereby grants, conveys and mortgages to
the Mortgagee:
ALL that certain lot, piece or parcel of land situate in the
City of Miami, County of_Dade, State of Florida commonly known
and legally described as follows:
SEE ATTACHED ADDENDUM
TOGETHER with all and singular tenements, hereditaments,
appurtenances thereto and all the estate and rights of the
`-1,4- 193
Mortgagor in and to such property or in any wise appertaining
thereto; all buildings and other structures now or hereafter
thereon erected or installed, and all fixtures and articles of
personal property now or hereafter attached to, or used in the
operation of, and such land, buildings, or structures which are
necessary to the complete use and occupancy of such buildings or
structures for the purposes for which they were or are to be
erected or installed, including, but not limited to, all heating,
plumbing, bathroom, lighting, cooking, laundry, ventilation,
refrigerating, incinerating and air conditioning equipment and
fixtures, and all replacements thereof and additions thereto,
whether or not the same are or shall be attached to such land,
buildings or structures in any manner;
TOGETHER with any and all awards now or hereafter made for
the taking of the property mortgaged hereby, or any part thereof,
if the taking thereof shall affect the operation of the property
(including any easement) by the exercise of the power of eminent
domain, including any award for change of grade of any street or
other roadway, which awards are hereby assigned to the Mortgagee
and are deemed a part of the property mortgaged hereby, and the
Mortgagee is hereby authorized to collect and receive the
proceeds of such awards, to give proper receipts and acquittances
therefore and to apply the same toward the payment of the
indebtedness secured by this Mortgage, notwithstanding the fact
that the amount owing thereon may not then be due and payable;
and the Mortgagor hereby .agrees, upon request, to make, execute
and deliver any and all assignments and other instruments
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94- 193
98-1181
sufficient for the purpose of assigning each such award to the
Mortgagee, free, clear and discharged of any encumbrances of any
kind or nature whatsoever; and
TOGETHER with all right, title and interest of the Mortgagor
in and to the land lying in the streets and roads in front of and
adjoining the above described land (all the above described land,
buildings, other structures, fixtures, articles of personal
property, awards and other rights and interest being hereinafter
collectively called the "Mortgaged Property");
TO HAVE AND TO HOLD the Mortgaged Property and every part
thereof unto the Mortgagee, its successors and assigns forever
for the purposes and uses herein set forth.
AND the Mortgagor further covenants and agrees with the
Mortgagee, as follows:
ARTICLE I
INDEBTEDNESS SECURED
Section 1.01. The Mortgagor will promptly pay the principal
of and interest on the indebtedness evidenced by the Note, and
all other charges and indebtedness provided therein and in this
Mortgage. As additional security, in order to effectuate,
complete or perfect the obligation of the Mortgagor under his
mortgage, Mortgagor has executed that certain Guaranty Agreement,
that certain Assignment _of Lease and Rents and that certain
Pledge of Stock --Agreement executed of even date herewith.
Section 1.02. The Mortgagor will promptly pay when due, as
hereinafter provided, all. ground rents, if any, and all taxes,
assessments, garbage, waste, water rates and other governmental
94- 193
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98-11Sl
fees, charges, fines and impositions, of every kind and nature
whatsoever, now or hereafter imposed on the Mortgaged Property,
or any part thereof, and will pay when due every amount of
indebtedness secured by any lien to which the lien of this
Mortgage is expressly subject.
Section 1.03. This Mortgage and the Note were executed and
delivered to secure moneys advanced to the Mortgagor by the
Mortgagee as or on account of a loan evidenced by the Note for
the purpose of making the improvements described or referred to
in the Construction Contract dated , in, to
or on the Mortgaged Property, and for such other purpose, if any,
described or referred to therein, which improvements are
hereinafter collectively called "Improvements". The Mortgagor
shall make or cause to be made all the Improvements. If the
construction or installation of the Improvements shall be
discontinued at any time for any reason, other than strikes,
lock -outs, acts of God, fires, floods, or other similar
catastrophes, riots, war or insurrection, the Mortgagee, after
due notice to the Mortgagor, is hereby authorized (a) to enter
upon the Mortgaged Property and employ any watchman, protect the
Improvements from depredation or injury and to preserve and
protect such property, (b) to carry out any or all then existing
contracts between the Mortgagor and other parties for the purpose
of making any of the Improvements, (c) to make and enter into
additional contracts and incur obligations for the purposes of
completing the Improvements pursuant to the obligations of the
Mortgagor hereunder, either in the name of the Mortgagee or the
9A- 193
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98-1181
Mortgagor and (d) to pay and discharge all debts, obligations and
liabilities incurred by reason of any action taken by the
Mortgagee as provided in this Paragraph, all of which amounts so
paid by the Mortgagee, with interest thereon from the date of
each such payment, at the maximum legal rate per annum permitted
by law shall be payable by the Mortgagor to the Mortgagee on
demand and shall be secured by this Mortgage and be deemed and
considered as additional advances under this Mortgage.
Section 1.04. The Mortgagor will not voluntarily create, or
permit or suffer to be created or to exist, on or against the
Mortgaged Property, or any part thereof, any lien superior to the
lien of this Mortgage, exclusive of that certain Mortgage and
Assignment Modification Assumption Agreement dated
and that certain Second Modification of
Mortgage and Assignment Agreement, executed by Mortgagor in favor
of the Bank of Tokyo, Ltd. (the "Bank"), to which this Mortgage
is expressly subject, and will keep and maintain the same free
from the claims of all parties supplying labor or materials which
will enter into the construction or installation of the
Improvements.
ARTICLE II
ADDITIONAL SECURITY GRANTED BY THIS MORTGAGE
Section 2.01. Mortgage Constitutes a Security Agreement It
is the intent o-f the parties hereto that this Mortgage instrument
shall constitute a Security Agreement within the meaning of the
Florida Uniform Commercial Code with respect to so much of the
property encumbered hereby as is considered or as shall be
193
-s-
determined to be personal property and all replacements thereof,
substitutions therefor or additions thereto (said property being
sometimes hereinafter referred to as the "Collateral"), and that
a security interest shall attach thereto for the benefit of the
Mortgagee to secure the indebtedness evidenced by the Note and
secured by this Mortgage, and all other sums and charges which
may become due hereunder or thereunder. The Mortgagor agrees to
execute such financing and continuation statements as the
Mortgagee may request. If there shall exist a default under this
Mortgage, the Mortgagee pursuant to the appropriate provisions of
the Florida Uniform Commercial Code shall have the option of
proceeding as to both real and personal property in accordance
with its rights and remedies in respect of the real property, in
which event the default provisions of the Florida Uniform
Commercial Code shall not apply. The parties agree that, in the
event the Mortgagee shall elect to proceed with respect to the
Collateral separately from the real property, unless a greater
period shall then be mandated by the Uniform Commercial Code,
twenty (20) days notice of the sale of the Collateral shall be
reasonable notice. The expenses of retaking, holding, preparing
for sale, selling and the like incurred by the Mortgagee shall be
assessed against the Mortgagor and shall include, but not be
limited to the legal expenses incurred by Mortgagee. The
Mortgagor agrees that it will not remove or permit to be removed
from the Mortgaged Property any of the Collateral without the
prior written consent of. the Mortgagee except as hereinabove
provided. All replacements, renewals and additions to the
94- 193
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Collateral shall be and become immediately subject to the
security interest of this Mortgage and this agreement and be
covered thereby. The Mortgagor shall, from time to time, on
request of the Mortgagee, deliver to the Mortgagee a complete
inventory of the Collateral in such detail as is satisfactory to
the Mortgagee. The Mortgagor warrants and represents that all
Collateral now is and that all replacements thereof,
substitutions therefor or additions thereto, unless the Mortgagee
otherwise consents, will be free and clear of liens, encumbrances
or security interest of others, subject to any superior rights of
the Bank.
Section 2.02. Assignment of Rents, Issues and Profits
(a) As additional security, Mortgagor hereby unequivocally
and unconditionally assigns, transfers and confers to Mortgagee
any and all leases affecting the Mortgaged Property as well as
the right, power and authority, during the continuance of this
Mortgage, to collect the rents, issues and profits of said
Mortgaged Property, reserving unto Mortgagor the right, prior to
any substantial and material default by Mortgagor in payment of
any indebtedness secured hereby or in performance of any material
agreement hereunder, to collect and retain such rents, issues and
profits as they become due and payable, and the Mortgagor shall
not further assign nor encumber the rents, profits and income of
the Mortgaged Property or any part thereof, subject to the right
of the Bank, without the prior written consent of the Mortgagee.
Upon any such default, Mortgagee may after reasonable notice,
either in person, by agent, or by a receiver to be appointed by a
`4- 193
court, and without regard to the adequacy of any security for the
indebtedness hereby secured, enter upon and take possession of
the Mortgaged Property or any part thereof, in its own name sue
for or otherwise collect such rents, issues and profits,
including those past due and unpaid, and apply the same, less
reasonable costs and expenses of operation and collection,
including reasonable attorneys' fees upon any indebtedness
secured hereby and in such order as the Court may determine. The
entering upon and taking possession of the Mortgaged Property,
the collection of such rents, issues and profits and the
application thereof as aforesaid, shall not cure or waive any
default or notice of default hereunder or invalidate any act done
pursuant to such notice and the enforcement of such right or
remedy by Mortgagee once exercised shall continue for so long as
Mortgagee shall elect notwithstanding that the collection and
application aforesaid of such rents, issues and profits of the
Mortgaged Property may have cured for the time the original
default. If Mortgagee shall thereafter elect to discontinue the
exercise of any such right or remedy, the same or any other right
or remedy under this Mortgage may be reasserted at any time and
from time to time following any subsequent default. Mortgagor
agrees to execute an Assignment of Rents and Leases Agreement at
the time of closing. _ The Assignment of Rents and Leases
Agreement is attached hereto and incorporated as Schedule "B".
(b) In the event that the Mortgagor occupies the
Mortgaged Property or any part thereof, without paying rent for
the same, the Mortgagor agrees to peaceably surrender possession
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98-1181
of such property to the Mortgagee immediately after any such
substantial and material default hereunder, and if the Mortgagor
remains in possession after such default, such possession shall
be as a tenant of the Mortgagee, and the Mortgagor shall pay in
advance, upon demand by the Mortgagee, as a reasonable monthly
rental for the Mortgaged Property occupied by the Mortgagor, an
amount at least equivalent to one -twelfth of the aggregate of the
twelve monthly installments payable in the current calendar year,
plus the actual amount of the annual ground rent, if any, taxes,
assessments, garbage, waste and water rates, other governmental
fees, charges, and insurance premiums payable in connection with
the Mortgaged Property during such year, and upon failure of the
Mortgagor to pay such monthly rental, the Mortgagor may also be
dispossessed by the usual summary proceedings applicable to
tenants. In the case of foreclosure and the appointment of a
receiver of the rents, the within covenant shall inure to the
benefit of such receiver or any other similar representative of
the Mortgagee.
Section 2.03. Assignment of Contract of Sale of the
Mortgaged Property. All contracts now or hereafter entered into
by Mortgagor for the sale of the Mortgaged Property or any
portion thereof will be and are hereby assigned to Mortgagee as
collateral security for the loan evidenced by the Note, and a
security interest therein is hereby created.
O4- 193
ARTICLE III
CONDITION OF THE MORTGAGED PROPERTY
Section 3.01. Mortgagor's action Affecting the Mortgaged
Property. No building or other structure or improvement,
fixture or personal property mortgaged hereby shall be removed or
demolished without the prior written consent of the Mortgagee.
The Mortgagor will not make, permit or suffer any alteration of
or addition to any building or other structure or improvement now
or which may hereafter be erected or installed upon the Mortgaged
Property, except the Improvements required to be made pursuant to
Section 1.03 hereof, nor will the Mortgagor use, or permit or,
suffer the use of, any of the Mortgaged Property for any purpose
other than the purpose or purposes for which the same is now
intended to be used, without the prior written consent of the
Mortgagee.
Furthermore, without the prior written consent of the
Mortgagee, Mortgagor shall not (a) convey or allow to be conveyed
or suffer a transfer of title to the Mortgaged Property or any
portion thereof by 'conveyance or by operation of law; (b) sell,
all or any portion of the Mortgaged Property, or (c) further
encumber the Mortgaged Property or any part thereof or permit any
lien to be created thereon. The Mortgagee shall not unreasonably
withhold its consent to Mortgagor's transfer of the Mortgaged
Property is contemplated in (a), (b) and (c) herein provided that
(i) the proposed transferee must be acceptable to the Mortgagee
in the reasonable exercise of its judgment, and (ii) there is no
default existing under the Note or this Mortgage or any of the
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other document securing this Mortgage either at the time of the
request for consent to the transfer or at the time of the
transfer.
Section 3.02. Inspection. The Mortgagee, by any of its
agents or representatives, shall have the right to inspect the
Mortgaged Property from time to time at any reasonable business
hour of the day after reasonable notice of intent to inspect.
Should the Mortgaged Property, or any part thereof, require
repair, care or attention of any kind not required pursuant to
this Mortgage, which repair, care or attention may be reasonably
determined by the Mortgagee, the Mortgagee may, after thirty (30)
days notice to the Mortgagor, enter or cause entry to be made
upon the Mortgaged Property and repair, protect, care for or
maintain such Mortgaged Property, as the Mortgagee may,
reasonably deem necessary, and all costs therefor shall be paid
by the Mortgagee. It is specifically understood and agreed that
any action undertaken by the Mortgagee pursuant to this paragraph
shallnot in any manner whatsoever *be detrimental to the
interests of the Mortgagor, and, in any case, such actions shall
be undertaken without any cost or expense being attributable to
the Mortgagor.
Section 3.03. Maintenance of Mortgaged Property. The
Mortgagor will maintain the Mortgaged Property in good condition
and state of repair and will not suffer or permit any waste to
any part thereof excepting normal wear and tear, and will
promptly comply with all .the requirements of federal, state and
local governments, or of any departments, divisions or bureaus
4- 193
thereof, pertaining to such property or any part thereof;
notwithstanding the foregoing, the Mortgagee specifically
approves and authorizes rehabilitation of the properties
encumbered by this Mortgage substantially in conformity with
plans submitted to Mortgagee.
Section 3.04. Destruction of Mortgaged Property. Mortgagor
agrees to give prompt written notice to Mortgagee after damage to
or destruction of the Mortgaged Property or any part thereof (the
"Casualty"). In the event of a Casualty, all proceeds of
insurance shall be payable to Mortgagee and Mortgagor subject to
rights of the Bank hereby authorizes and directs any affected
insurance company to make payments of such proceeds directly to
Mortgagee. Mortgagor after consultation with and upon receipt of
written authorization from Mortgagee will settle, adjust or
compromise any claims for loss, damage or destruction under any
policy or policies of insurance without Mortgagor's consent.
After deducting therefrom all costs and expenses, including
attorneys' fees, incurred by Mortgagor in connection with
settling, adjusting or compromising such claims, Mortgagee shall
distribute the loss proceeds shall be distributed as hereinafter
provided in this Paragraph.
In the event of any Casualty, the proceeds shall be used to
the restoration of the_ Mortgaged Property subject to such
conditions as Mortgagee shall reasonably determine.
Nothing herein contained shall be deemed to excuse Mortgagor
from repairing or maintaining the Mortgaged Property as provided
herein or restoring all damage or destruction to the Mortgaged
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98 -1181
Property, regardless whether or not there are insurance proceeds
available, whether or not such proceeds are sufficient in amount
or whether the allocation or release by Mortgagee of any
insurance proceeds shall not cure or waive any default or notice
of default under this Mortgage or invalidate any act done
pursuant to such notice. Notwithstanding the foregoing, however,
Mortgagee is entitled to receive such proceeds which are in
excess of the costs of restoration and apply the same to reduce
the indebtedness secured hereby, subject to the rights of the
Bank.
If the Mortgaged Property shall have been sold on
foreclosure of this Mortgage prior to the receipt by the
Mortgagee of such insurance proceeds, the Mortgagee shall have
the right to receive such proceeds to the extent of any
deficiency found to be due upon such sale, with legal interest
thereon, provided a deficiency judgment on this Mortgage shall
have been sought and recovered, together with counsel fees and
the costs and disbursements incurred by the Mortgagee in
connection with tho collection of such proceeds. No Casualty
shall in any way excuse the punctual performance of the payment
of the indebtedness under the Note or the performance of any
obligations under the Note or this Mortgage.
Section 3.05. Eminent Domain. In the event damages are
awarded for the taking of, or injury to all or any part of the
Mortgaged Property under the power of eminent domain or
otherwise, all such damages shall be paid to and received by the
Mortgagee to be applied as payment upon such part of the
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indebtedness hereby secured, as the Mortgagee may elect, without
affecting the amount of, or time for payment of, any other
installments required hereunder, whether to not such indebtedness
to which such damages may be applied is then due and payable.
ARTALCLE IV
INSURANCE, TARES AND ASSESSMENTS
Section 4.01. (a) Mortgagor will keep all buildings, other
structures and improvements, including equipment, now existing or
which may hereafter be erected or installed on the land mortgaged
hereby, insured against loss by fire and other hazards, flood,
casualties and contingencies, in such amounts and manner, and for
such periods, all as may be required from time to time by the
Mortgagee, but in no event less than the aggregate amount of all
mortgages, liens and encumbrances on the Mortgaged Property. The
Mortgagor will pay promptly when due, any and all premiums on
such insurance, and promptly submit to the Mortgagee for
examination receipts or other evidence of such payment as shall
be satisfactory to the Mortgagee. The Mortgagee may obtain and
pay the premium on (but shall be under no obligation to do so)
every kind of insurance required hereby if such premium has not
been paid when due as required by this Mortgage, in which event
the Mortgagor will pay to the Mortgagee every premium so paid by
the Mortgagee. Unless otherwise required by the Mortgagee, all
such insurance -shall be effected by Standard Fire and Extended
Coverage Insurance policies, in amounts not less than necessary
to comply with the coinsurance clause percentage of the value
applicable to the location and character of the property to be
OJ4— 193
covered. All such insurance shall be carried in companies
approved by the Mortgagee, said approval not to be unreasonably
withheld, whom are duly authorized to do business in Florida and
are rated A:X or better per A.M. Bests' Key Rating Guide, latest
edition and all policies therefore shall be in such form and
shall have attached thereto loss payable clauses in favor of the
Mortgagee and any other parties as shall be reasonably
satisfactory to the Mortgagee. All such policies and attachments
thereto shall be delivered promptly to the Mortgagee, unless they
are required to be delivered to the holder of a lien of a
mortgage or similar instrument to which this Mortgage is
expressly subject, in which latter event, certificates thereof,
satisfactory to the Mortgagee, shall be delivered promptly to the
Mortgagee. All such policies and attachments shall remain in
operative force and effect throughout the term of this Mortgage.
The Mortgagor shall not allow a lapse or modification of such
insurance coverage to occur.
(b) In the event of loss or damage to the Mortgaged
Property, the Mortgagor will give to the Mortgagee immediate
notice thereof by mail, and the Mortgagee may make and file proof
of loss if not made otherwise promptly by or on behalf of the
Mortgagor. Each insurance company issuing any such policy is
hereby authorized and directed to make payment thereunder for
such loss to the Mortgagor and the Mortgagee jointly, unless the
amount of loss is payable first to the holder of a lien under a
mortgage or similar instrument to which this Mortgage is
expressly subject; and the insurance proceeds, or any part
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98-HS1
thereof, if received by the Mortgagee, shall be applied by the
Mortgagee to the restoration or repair of the Mortgaged Property
damaged. Notwithstanding the foregoing, however, Mortgagee is
entitled to receive such proceeds which are in excess of the
costs of restoration and supply the same to reduce the
indebtedness secured hereby, subject to the rights of the Bank.
In the event of foreclosure of this Mortgage, or of any
transfer of title of the Mortgaged Property in extinguishment of
such indebtedness, all right, title and interest of the Mortgagor
in and to every such insurance policy then in force, subject to
the rights and interest of the holder of any such prior lien,
shall pass to the grantee acquiring title to the Mortgaged
Property together with such policy and appropriate assignment of
such right, title and interest which shall be made by the
Mortgagor.
Section 4.02. Payment of Assessments and Other Taxes.
Mortgagor agrees to pay when due, and without requiring any
notice from Mortgagee, all taxes, assessments of any type or
nature and other charges levied or assessed against the Mortgaged
Property and provide Mortgagee with proof of payment of same.
Mortgagor agrees to pay and discharge, prior to delinquency, any
claim, lien or encumbrance against the Mortgaged Property which
may be or become superior to this Mortgage, and agrees not to
permit a default or delinquency on any other lien, encumbrance or
charge against the Mortgaged Property, whether inferior or
superior to this Mortgage..
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98-1181
Section 4.03. Mortgagee Permitted to Satisfy Mortgagor's
Obligations Hereunder. If Mortgagor fails to pay when due any
claim, lien or encumbrance against the Mortgaged Property,
whether inferior or superior to this Mortgage within any
applicable grace period or bond or otherwise remove same as a
lien on the Mortgaged Property, or, to pay when due, any tax or
assessment or insurance premium, or to keep the Mortgaged
Property in reasonable repair, or if Mortgagor shall commit or
permit waste or if any material obligation of the Mortgagor under
the Note and this Mortgage is not performed when due or if there
be commenced any action or proceeding affecting the Mortgaged
Property or the title thereto or adversely and materially
affecting the zoning or development rights thereof or thereto, or
the interest of Mortgagor therein, including, without limitation,
eminent domain and bankruptcy or reorganization proceedings, then
Mortgagee, at its option, after thirty (30) days notice to
Mortgagor, may pay said claim, lien, encumbrance, tax, assessment
or premium, with right of subrogation thereunder, may make such
repairs and take such steps as it reasonably deems advisable to
prevent or cure such waste, and may appear in any such action or
proceeding and retain counsel therein, and take such action
therein as Mortgagee reasonably deems advisable, and for any of
said purposes Mortgagee _may be advance such sums of money,
including all costs, attorneys' fees at trial and all levels of
appeal and other items of expense as it reasonably deems
necessary. Mortgagee shall not be held accountable for any delay
or failure in making any such payment or in fulfilling any such
193
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obligations, when delay or failure may result in any loss or any
additional interest, costs, charges or expense otherwise not be
incurred. In order to accelerate the maturity of the
indebtedness hereby secured, because of the failure of the
Mortgagor, prior to delinquency, to pay any tax, assessment,
liability, obligation, insurance premium or encumbrance upon the
Mortgaged Property as herein provided, it shall not be necessary
nor requisite that the Mortgagee shall first pay the same.
ARTICLE V
HAZARDOUS OR TO%IC MATERIALS
Section 5.01. Definitions. The following definitions shall
be applicable to this Article.
(a) "Environmental Complaint" includes without
limitation, any complaint, order, citation or notice issued
pursuant to or in connection with any Environmental Law affecting
Mortgagor or the Environmental Site from any person or entity or
governmental agency or body (including, without limitation, the
Federal Environmental Protection Agency and Florida Department of
Environmental Regulation).
(b) "Environmental Laws" means any law, ordinance,
rule, regulation or requirement, issued by any federal, state or
local government or quasi -governmental authority, whether now
existing or hereinafter enacted, and any judicial or
administrative ;interpretations thereof, regulating the use,
generation, handling, storage, transportation or Release (as
hereinafter defined) of Hazardous or Toxic Materials or relating
to the protection of the environment.
®d- 193
(c) "Environmental Permits" mean all permits,
licenses, approvals, authorizations, consents or registrations
required by any applicable Environmental Law in connection with
the ownership, use and/or operation of the Environmental Site,
including without limitation those required for the use,
generation, handling, storage, transportation or Release of
Hazardous or Toxic Materials.
(d) "Environmental Site" as used in this Article shall
include the surface of the Land and the entire subsurface of
soil, sand, gravel, stone and rock, all surface water and
subsurface water, whether flowing or stagnant, the ambient air,
and all structures, fixtures and buildings located, situated or
erected on the Land, and all Mortgaged Property located at or in
connection with any such structure.
(e) "Hazardous or Toxic Materials" means any material
whatsoever, which is or may potentially be harmful to the health
or safety of human or animal life or vegetation, regardless of
whether such material be found on or below the surface of the
ground, in any surface or underground water, airborne in ambient
air or in the air inside of any structure built or located upon
or below the surface of the ground or in building materials or in
improvements of any structures, or in any Mortgaged Property
located or used in any such structure, including but not limited
to all hazardous materials, hazardous substances, imminently
hazardous substances, hazardous wastes, toxic substances,
infectious wastes, pollutants and contaminants from time to time
defined, listed, identified, designated or classified as such
'34
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d- 193
under any Environmental Law regardless of the quantity of any
such material.
(f) "Release" includes without limitation, any
releasing, discharging, emitting, escaping, pouring, emptying,
pumping, injecting, seeping, leaking, dumping, disposing or
spilling.
Section 5.02. Mortgagor's Representations and Warranties.
The Mortgagor, as a material inducement for Mortgagee agreeing to
make the loan, represents and warrants the following all of which
shall be true and correct as of the date hereof and which shall
remain true and correct at all time while any portion of the
indebtedness secured hereby is outstanding:
(a) Mortgagor has investigated the Environmental Site
and has no knowledge of any environmental condition on or
affecting the Environmental Site;
(b) Neither the Mortgagor, nor to Mortgagor's
knowledge, any existing or prior tenant of the Environmental
Site, any prior owner thereof nor any other person is the subject
of any civil or criminal investigation or enforcement proceeding,
whether administrative or judicial, respecting: (i) any Hazardous
Substance or threat of a Release on or affecting the
Environmental Site; or (ii) any violation of Environmental Law by
the Mortgagor, any existing or prior tenant of the Environmental
Site, any prior -owner thereof or any other person with respect to
or affecting the Environmental Site;
(c) To Mortgagor's knowledge there is no litigation
involving the Environmental Site is pending against the
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98-11SI
Mortgagor, any existing or prior tenant of the Environmental
Site, any prior owner thereof or any other person in any way
related to any of the aforementioned persons, or to the best of
the Mortgagor's knowledge is any such litigation threatened,
which seeks to enjoin, remove or remediate a Release or
threatened Release, or which seeks any remedy based upon a
violation of any Environmental Law or for any injury to any
person, property, animal life or vegetation caused by a Hazardous
Substance or which seeks to remove or remediate a Hazardous
Substance;
(d) To Mortgagor's knowledge neither the Mortgagor,
any existing or prior tenant of the Environment Site, any prior
owner thereof, or any other person has received any notice from
any governmental or quasi governmental agency with respect to any
Hazardous Substance or any threatened Release on or affecting the
Environmental Site, or any violation of Environmental Law by any
of the aforementioned persons with respect to or affecting the
Environmental Site;
(e) To the Mortgagor's knowledge the Environmental
Site is not currently used, nor has it been used in the past, by
the Mortgagor, prior owners, tenants or any other persons in a
manner which violates any Environmental Law or which could give
rise to liability for Hazardous Substances, nor do conditions
exist on or affect the Environmental Site which could violate any
such law or give rise to such liability;
(f) To the Mortgagor's knowledge there has not been a
Release on or affecting the Environmental Site nor is there the
threat of such a Release; and
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(g) The Mortgagor and all tenants, if any, of the
Environmental Site are in compliance with all Environmental Laws
and Environmental Permits affecting the Environmental Site.
Section 5.03. Status of the Environmental Site. In the
event any of the following shall occur with regard to the
Environmental Site, such shall constitute a default of this
Mortgage and Mortgagee may exercise any and all remedies
available hereunder, under the Note or under any other document
executed in connection therewith, including without limitation,
the immediate acceleration of the entire indebtedness secured
hereby and foreclosure of this Mortgage; provided, Mortgagor has
been given the opportunity to cure such default and has failed to
do so in the time prescribed therefor:
(a) Any Release of Hazardous or Toxic Materials on or
into the Environmental Site resulting in the material devaluation
of the real property.
(b) Any use, generation, handling, storage or
transportation of Hazardous or Toxic Materials resulting in the
material devaluatioh of the real property.
(c) Any adverse change in the manner of use,
generation, handling, storage or transportation of Hazardous or
Toxic Materials resulting in the material devaluation of the real
property.
(d) If Mortgagor fails to timely and substantially
comply with each and every covenant and condition contained in
this Article.
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98-1181
(e) If any representation or warranty contained in the
preceding Section is incorrect or untrue at the time made or at
any time thereafter during the term of the loan secured hereby
resulting in the material devaluation of the real property.
Section 5.04. Notice of Potential Hazardous or Toxic
Materials. If the condition of the Environmental Site adversely
changes, Mortgagor agrees to immediately provide written notice
of such change to (i) the Mortgagee and (ii) the appropriate
federal, state and/or local governmental authority, if required
by applicable law. Additionally, if (i) any of the
representations or warranties contained in Section 5.02 hereof
shall at any time be untrue or incorrect or (ii) any of the
events described in Section 5.03 (a) through (e) hereof shall
occur, then Mortgagor shall immediately provide Mortgagee with
written notice of same. Finally, if Mortgagor receives an
Environmental Complaint or any other notice of the happening of
any material event involving the use, generation, handling,
storage, transportation or Release of any Hazardous or Toxic
Materials on or at the Environmental Site or adjacent thereto, or
in connection with Mortgagor's operations thereon, then Mortgagor
shall immediately notify Mortgagee orally and provide Mortgagee
with a photocopy of said notice.
Section 5.05. Request For Environmental Audit and
Environmental Risk Assessment.
(a) In addition to any environmental audit which may
have been required as a precedent to the closing of the loan
evidenced by the Note and secured by this Mortgage, Mortgagor,
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9S -IVsI
if deemed necessary by an appropriate federal, state and/or local
governmental authority will cause to be conducted, at Mortgagor's
expense, an environmental audit of the Environmental Site
prepared by an independent engineer or other qualified
environmental consultant of the Mortgagee's choice which
evaluates (i) whether any Hazardous or Toxic Materials are
present in the soil, surface or ground water at the Environmental
Site, or at any adjacent property in quantities that would
violate applicable Environmental Laws, (ii) whether any Hazardous
or Toxic Materials have previously been Released, intentionally
or unintentionally, to the soil, surface or ground water at the
Environmental Site, (iii) whether the Environmental Site is in
compliance with all applicable Environmental Laws. The scope of
the environmental audit shall include, but shall not be limited,
to the following: (1) an investigation of the past uses of the
Environmental Site; (2) a review of government agency records;
(3) an examination of the use and condition of surrounding
property and identification of hazardous waste disposal sites
within a mile of the Environmental Site; (4) tests for
polychlorinated biphenyls, asbestos, explosive gas and radon; (5)
identification and examination of storage tanks and water sources
at the Environmental Site; (6) a general visual site inspection
of the Environmental Site; and (7) identification of the
Environmental Site as wetlands or floodplain. All sampling shall
be conducted using accepted and scientifically valid technology
and methodologies. The consultant shall prepare a written report
detailing its findings and conclusions.
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(b) After receipts of any environmental audit written
report, revealing any release of hazardous or toxic materials, if
deemed necessary by an appropriate federal, state and/or local
governmental authority. Mortgagor will cause to be conducted, at
Mortgagor's expense, an environmental risk assessment and/or a
Phase II Audit, that is satisfactory to Mortgagee, for the
Environmental Site, hazardous waste management practices and/or
hazardous waste disposal sites used by Mortgagor, if any, and of
compliance with all permits, consent orders, licenses, approvals,
permissions or any of the like required for the operation of the
Environmental Site or any business, process or activity thereon.
Said risk assessment must be by an environmental consultant
satisfactory to Mortgagee, said approval shall not be
unreasonably withheld.
(c) Mortgagor agrees to fully cooperate in the
preparation of information regarding any audit or assessment
required by Mortgagee pursuant to this Section. Such assistance
shall` include without limitation, informing environmental
consultants of. the 'past, present and intended future use of the
Environmental Site and any adjacent property, responding to
questions of environmental consultants and Mortgagee and
providing same with reasonable access at reasonable times to the
Environmental Site to disclose any such information to the
Environmental consultants and Mortgagee and to fully cooperate
with same as set forth above.
(d) Any environmental audit and/or assessment reports
received by Mortgagee shall be considered the property of
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Mortgagee, and the Mortgagee shall owe no duty of confidentiality
to any Obligor with respect to the contents thereof. All
environmental consultants used to accomplish the audits and
assessments contemplated in this Section shall be deemed
independent and not an agent of the Mortgagee. Neither the
Obligors, nor any other party shall have any recourse to or claim
against the Mortgagee for any actions or inactions of any
environmental consultant used pursuant to the provisions of this
Section, except where Mortgagee's actions or inactions are
intentional or Mortgagee is deemed grossly negligent.
(e) All costs and expenses incurred by Mortgagee
pursuant to the exercise of its rights contained in this Section
shall be secured by the Mortgage and shall be payable by
Mortgagor upon demand, or charged to Mortgagor's loan balance at
the sole discretion of Mortgagee, except as set forth in
subparagraph (a) hereof.
Section 5.06. Corrective steps to be Taken in the Event of
Potential Hazardous or Toxic Materials. In addition to the
provisions of Section 5.03 hereof, in the event Mortgagee
requests an environmental audit or environmental risk assessment
pursuant to the preceding Section, and any such audit or
assessment, indicates any past or present Release of or threat of
Release of Hazardous or Toxic Materials on or into the
Environmental Site, Mortgagee may, take the following corrective
measures:
(a) Require that Mortgagor take all steps necessary to
further define the nature of the Hazardous or Toxic Materials,
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S5-1181
any risks related to or resulting therefrom and possible
corrective measures; and may also require Mortgagor to cause the
appropriate corrective measures to be taken, including without
limitation, requiring that all violations of law with respect to
Hazardous or Toxic Materials be corrected and that Mortgagor
obtain all necessary Environmental Permits and approvals in
connection therewith.
(b) Mortgagee shall have the right but not the
obligation, and without limitation of Mortgagee's rights under
this Mortgage, to enter onto the Environmental Site and/or to
take such actions as Mortgagee deems necessary or advisable to
clean up, remove, decontaminate, detoxify, resolve or minimize
the impact of or otherwise deal with, any Hazardous or Toxic
Materials and obtain all necessary Environmental Permits and
approvals in connection therewith, after thirty (30) days notice
of Mortgagee's intent to do the same.
(c) All costs and expenses incurred by Mortgagee
pursuant to the exercise of any of its rights contained in this
Section shall be secured by this Mortgage and shall be payable by
Mortgagor upon demand or charged to the Mortgagor's loan balance
at the sole discretion of Mortgagee.
Section 5.07. Indemnity. Mortgagor hereby indemnifies, and
agrees to defend and save and hold Mortgagee and its officers,
employees, agents, successors .and assigns harmless from and
against any and all loses, liabilities (including, without
limitation, strict liability and common law liability),
obligations, damages (including, without limitation, all
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foreseeable and unforeseeable consequential damages to any person
or entity including third parties), injuries (including, without
limitation, injuries to the environment), defenses, charges,
penalties, interest, expenses, fees (including attorneys' fees at
all administrative and judicial hearing, trial and appellate
levels), costs (including, without limitations, costs of any
settlement), judgments, administrative or judicial proceedings,
and orders, remedial action requirements, enforcement actions,
claims and demands of any and every kind whatsoever paid,
incurred, or suffered by, or asserted against Mortgagee by any
person or entity or governmental agency or body for, with respect
of, in whole or in part, the violation of any Environmental Laws
applicable to the Environmental Site or any activity conducted
thereon, or the past, present and future use, generation,
handling, storage, transportation or Release at, on or under the
Environmental Site or adjacent property, or to the soil, air
surface or ground water thereat, or Release at any other site, of
any Hazardous or Toxic Materials. All sums paid and costs
incurred by Mortgagee with respect to the foregoing matters shall
bear interest at the highest applicable legal rate and shall be
secured by the lien of this Mortgage, and the lien of this
Mortgage shall also further secure this indemnity and any
liability of Mortgagor hereunder. Notwithstanding anything
contained herein, this indemnification shall survive the full
payment and performance of the Note and this Mortgage, and the
satisfaction of this Mortgage, as the continuing absolute and
unconditional liability of Mortgagor, and it shall inure to the
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24- 193
benefit of any transferee of title to the Environmental Site
through foreclosure of the Mortgage or through deed in lieu of
foreclosure.
Section 5.08. Certain Changes in Environmental Laws.
Mortgagor recognizes and agree that a material inducement for
Mortgagee to make the loan and accept this Mortgage is the
protection afforded mortgagees and purchasers of real property
without notice of hazardous or toxic substance contamination set
forth, as of the date hereof, in the Comprehensive Environmental
Response, Compensation and Liability Act of 1980, 42 U.S.C.
Sections 9601, et. seq. as modified by the Superfund Amendments
and Reauthorization Act of 1986, 42 U.S.C. Sections 11001, et.
seq. If the classes of potentially responsible parties
identified in those acts are expanded to include mortgagees whose
sole contact with property is through holding a mortgage on real
property as security for a loan or if defenses available to a
mortgagee or a purchaser of real property without notice defined
in those acts are abrogated (in whole or part) or eliminated or
otherwise modified in a manner to which may expose Mortgagee to
greater liability thereunder then Mortgagee may, at its option
and in its sole discretion, immediately accelerate the entire
indebtedness secured hereby and demand full repayment of said
indebtedness.
ARTICLE VI
DEFAULT AND REMEDIES
Section 6.01. Default and Remedies. Each of the following
events shall be deemed a default of Mortgagor's obligations
hereunder:
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(a) The filing of any petition under the Bankruptcy
Act or Code, or any similar federal or state statute, by or
against Mortgagor;
(b) An application for the appointment of a receiver
or the making of a general assignment for the benefit of
creditors of Mortgagor;
(c) The issuing of any writ of attachment or writ of
garnishment against the Mortgaged Property which is not bonded
within thirty (30) days;
(d) The dissolution, merger, consolidation or
reorganization of any Mortgagor;
(e) If it appears at any time that any material
representation in any financial or other statement of Mortgagor,
delivered to Mortgagee in connection with the indebtedness
secured by this Mortgage is untrue or omits any material fact and
Mortgagee's security is materially affected;
(f) If Mortgagor shall become insolvent (however
evidenced), or upon the suspension of business of the Mortgagor;
(g) If default should be made in payment of any amount
due under the Note secured hereby or any part thereof beyond any
applicable grace period, or in payment of any other sum secured
hereby, beyond any applicable grace period without notice or
demand which are hereby expressly waived;
(h) Except where otherwise provided, if default should
continue for more than thirty (30) days in the performance and
observance of any of Mortgagor's obligations, representations,
covenants and agreements hereunder; unless Mortgagor makes a good
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faith effort to cure the default and the same cannot be
accomplished within thirty (30) days.
(i) If Mortgagor shall be in substantial and material
default with respect to its obligations under those other
instruments executed in connection with the indebtedness secured
hereby, including without limitation, that certain Loan Agreement
executed of even date herewith by Mortgagor and Mortgagee, or
that certain Assignment of Leases and Rents executed of even date
herewith by Mortgagor in favor of Mortgagee, and any such default
continues beyond the applicable grace period, if any;
(j) Upon the institution of proceedings against the
Mortgaged Property upon any other lien or claim whether superior
or junior to the lien of this Mortgage unless the same shall be
bonded within thirty (30) days following such institution of
proceedings in which event the default occasioned thereby shall
be deemed cured; provided such bonding shall have cured any
defaults affecting the Mortgaged Property;
(k) Upon the institution of" proceedings against the
Mortgaged Property to enforce rights and/or remedies pursuant to
that certain Mortgage executed as of by
Mortgagor in favor of the Bank of Tokyo, Ltd. and recorded in
Official Records Book , at Page , of the Public Records
of Dade County, Florida; _
(1) If at any time the Mortgagor fails to comply in
every respect to insure maximum protection for the fee owner of
the Mortgaged Property under any applicable mechanic's lien law
and to insure the priority of this Mortgage over any lien for
-31- A s �19 i
work, materials or services provided by any mechanic, vendor,
supplier or materialman;
(m) If the Mortgagor, pursuant to Florida Statutes
697(1)(b), as amended from time to time, shall file for record a
limitation of the maximum amount which may be secured by this
Mortgage;
(n) If the Mortgaged Property or any portion thereof
are taken or injured under the power of eminent domain or
otherwise;
(o) If, without the prior written consent of the
Mortgagee, (i) the Mortgaged Property or any part thereof or any
interest therein (including, without limitation, agreements or
contracts for the conveyance of the real property) shall be sold,
conveyed or otherwise transferred or further encumbered for debt
by the Mortgagor or (ii) any amount of any Mortgagor's voting
stock, beneficial interests or partnership interests shall be
sold or otherwise transferred, or pledged, hypothecated or
otherwise transferred as security for debt. In determining
whether to grant or withhold its consent under this provision,
the Mortgagee, without limitation on the generality of the
requirement of such consent, may consider the character and
financial ability of the proposed purchaser, transferee or
encumbrancer. As a condition to granting its consent to a sale,
conveyance or other transfer of the Mortgaged Property, Mortgagee
will charge a fee equal to one percent (1%) of the unpaid
principal balance of the Note plus all accrued and unpaid
interest thereon, plus a One Thousand Dollar ($1,000.00)
-32- V0a - 193
processing fee and all reasonable out -of pocket costs related
thereto (including without limitation, any documentary stamps,
intangible taxes, Mortgagee's attorney fees, recording fees, and
title insurance endorsements);
(p) The occurrence of any event constituting a default
of this Mortgage per Section 5.03 hereof entitled "Status of
Environmental Site."
Section 6.02. Mortgagee's Remedies Upon Default of
Mortgagor. Upon the occurrence of any default described in the
preceding paragraph, and in addition to any other rights
available under the Note or any other document executed in
connection therewith or as security therefor, or at law or in
equity, Mortgagee may, at its option, exercise any, some or all,
of the following remedies concurrently or consecutively:
(a) Mortgagee may declare all indebtedness of
Mortgagor to Mortgagee secured by his Mortgage, together with all
accrued interest thereon, immediately due and payable after
notice or demand, and upon such declaration all such indebtedness
shall immediately become due and payable as fully and completely
as if said indebtedness was originally stipulated to be paid on
such date, anything in the Note or this Mortgage to the contrary
notwithstanding.
(b) Mortgagee may institute proceedings for the
partial or complete foreclosure. of this Mortgage and Mortgagee
may, pursuant to any final judgment of foreclosure, sell the
Mortgaged Property as an entirety or in separate lots, units or
parcels. Any person, including the Mortgagee, may purchase the
-33- aJ4 - 193
Mortgaged Property or any portion thereof, at any foreclosure
sale. The reasonable expenses (including receiver's fees,
counsel fees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby.
Mortgagee is authorized to use the proceeds of such sale (after
payment of all costs and expenses incurred) to satisfy the
indebtedness secured hereby in such order as required by law or a
court of competent jurisdiction. Any sale or sales made under or
by virtue of this Mortgage, to the extent not prohibited by law,
shall operate to divest all the estate, right, title, interest,
property, claim and demand whatsoever, whether at law or in
equity, of the Mortgage or in, to and under the Mortgaged
Property, or any portions thereof so sold, and shall be a
perpetual bar both at law and in equity against the Mortgagor and
against any and all persons claiming by, through or under the
Mortgagor.
(c) Mortgagee may obtain a court order after due
notice, to enter upon and take possession of the Mortgaged
Property or any part thereof, to perform any acts Mortgagee deems
necessary or proper to conserve the security and to collect and
receive all rents, issues and profits thereof, including those
past due as well as those accruing thereafter.
(d) Mortgagee shall be entitled, as a matter of strict
right and without regard to the value or occupancy of the
security, to have a receiver appointed to enter upon and take
possession of the Mortgaged Property, collect the rents, issues
and profits therefrom and apply the same as the court may direct,
-34- 14 - 193
such receiver to have all the rights and powers permitted under
the laws of Florida.
(e) In the event Mortgagee elects to exercise the
remedy provided in (c) or (d) above, Mortgagee or the receiver
may also take possession of, and for these purposes use, any and
all personal property contained in the Mortgaged Property and
used by Mortgagor in the rental or leasing thereof or any part
thereof. The reasonable expenses (including receiver's fees,
counsel fees, costs and agent's compensation) incurred pursuant
to the powers herein contained shall be secured hereby.
Mortgagee shall (after payment of all costs and expenses
incurred) apply such rents, issues and profits received by it on
the indebtedness secured hereby in such order as the court
determines. Mortgagee shall be liable to account only for such
rents, issues and profits actually received by Mortgagee.
Section 6.03. Remedies Cumulative. If the indebtedness
secured hereby is now or hereafter further secured by chattel
mortgages, security interests, pledges, contracts of guaranty
assignments of leases, collateral assignments, hypothecations, or
other securities, or if the Mortgaged Property hereby encumbered
consists of more than one parcel, Mortgagee may at its option,
exhaust any one or more of said securities and security
hereunder, or one or more of such parcels of the security
hereunder, either concurrently or independently, and in such
order as it may determine without regard to the right of the
Mortgagor or any person, claiming under the Mortgagor to the
marshalling of assets.
-35- `� 4 - 193
Section 6.04. Acts Not Constituting Waiver. No delay by
Mortgagee in exercising any right or remedy hereunder, or
otherwise afforded by law, shall operate as a waiver thereof or
preclude the exercise thereof during the continuance of any
default hereunder. No waiver by Mortgagee of any default shall
constitute a waiver of or consent to subsequent defaults. No
failure of Mortgagee to exercise any option herein given to
accelerate maturity of the debt hereby secured, no forbearance by
Mortgagee before or after the exercise of such option and no
withdrawal or abandonment of foreclosure proceedings by Mortgagee
shall be taken or construed as a waiver of its right to exercise
such option or to accelerate the maturity of the debt hereby
secured by reason of any past, present or future default on the
part of mortgagor; and, in like manner, the procurement of
insurance or the payment of taxes or other liens or charges by
Mortgagee shall not be taken or construed as a waiver of its
right to accelerate the maturity of the debt hereby secured.
Section 6.05. Mortgagee May Cure Default Under Superior
Lien. the Mortgagee may from time to time cure each default
under any covenant or agreement in any instrument creating a lien
upon the Mortgaged Property, or any part thereof, which shall
have priority over the lien of this Mortgage, to such extent at
the Mortgagee may exclusively determine, and each amount paid, if
any, by the Mortgagee to cure any such default shall be paid by
the Mortgagor to the Mortgagee, and the Mortgagee shall also
become subrogated to whatever rights the holder of the prior lien
might have under such instrument.
-36- O- � - 193
��- u
ARTICLE VII
MISCELLANEOUS
Section 7.01. Events or Circumstances not Affecting
Mortgagor's Liability Hereunder. Without affecting the liability
of Mortgagor or any other person (except any person expressly
released in writing) for payment of any indebtedness secured
hereby or for performance of any obligation contained herein, and
without affecting the rights of Mortgagee with respect to any
security not expressly released in writing, Mortgagee may, at any
time and from time to time, either before or after the maturity
of said Note, and without notice or consent:
(a) Release any person liable for payment of all or
any part of the indebtedness or for performance of any
obligation;
(b) Make any agreement extending the time or otherwise
altering the terms of payment of all or any part of the
indebtedness, or modifying or waiving any obligation, or
subordinating, modifying or otherwise dealing with the lien or
charge hereof;
(c) Exercise or refrain from exercising or waive any
right Mortgagee may have:
(d) Accept additional security of any kind;
(e) Release or otherwise deal with any property, real,
personal or intangible securing the indebtedness, including all
or any part of the Mortgaged Property.
Section 7.02. Priority or Mortgage and Modifications. Any
agreement hereafter made by Mortgagor and Mortgagee pursuant to
-37- . 1 _ 14913
this Mortgage including extensions or modifications hereof or of
the Note hereby secured shall be superior to the rights of the
holder of any intervening lien or encumbrance. Mortgagee shall
be subrogated to the rights of the holder of any existing
mortgage or other lien encumbering the Mortgaged Property hereby
which is satisfied by application of any portion of the proceeds
of the loan evidenced by the Note secured hereby as though said
mortgage or other lien had been purchased by Mortgagee by
assignment to Mortgagee, even though said mortgage or lien has
been satisfied of record and the note thereby secured cancelled.
The parties hereto acknowledge that this is a second mortgage,
junior, inferior and subordinate to that certain first mortgage
dated executed by the Mortgagor in favor of the Bank
of Tokyo, Ltd.
Section 7.03. Notices. All written notices in connection
with this Mortgage or otherwise which may be given by Mortgagee
shall be deemed properly given if mailed by registered or
certified mail, return receipt requested, or delivered to
Mortgagor at the address shown below or at such other address as
Mortgagor may from time to time notify Mortgagee of in writing:
Citadel Arena Corporation
2000 South Bayshore Drive, *62
Miami, Florida 33133
All notices which Mortgagor may give Mortgagee in connection
with this Mortgage shall be in writing, mailed by registered or
certified mail, return receipt requested, or delivered to
Mortgagee at the address shown below or at such other address as
Mortgagee may from time to time notify Mortgagor of in writing:
-36- dt - 193
98-11SI
City of Miami
Department of Development and
Housing Conservation
300 Biscayne Boulevard Way, Suite 400
Miami, Florida 33131
Section 7.04. Waiver of Homestead Rights. Mortgagor hereby
waives all right of homestead or other exemption in the property
subject to this Mortgage.
Section 7.05. Successors and Assigns; Gender and Number.
The covenants and agreements herein contained shall bind and the
benefits and advantages shall inure to the respective heirs,
executors, administrators, successors and assigns of the parties
hereto, provided, however, Mortgagor must obtain the written
consent of Mortgagee, which consent may not be unreasonably
withheld, before assignment of any or all of its obligations
hereunder. Wherever used, the singular number shall include the
plural, and the plural the singular, and the use of any gender
shall be applicable to all genders. All covenants, agreements
undertakings shall be joint and several.
Section 7.06. Controlling Law. This Mortgage is to be
construed and enforced according to the laws of the State of
Florida.
Section 7.07. Jurisdiction, Service of Process. Mortgagor
hereby waives any plea or claim of lack of personal jurisdiction
or improper venue in any action, suit or proceeding brought to
enforce this Mortgage or any, of the obligations arising
hereunder. Mortgagor specifically authorizes any such action to
be instituted and prosecuted in any Circuit Court in Florida or
United States District Court of Florida, at the election of
Mortgagee, where venue would lie and be proper.
-39- - 193
Section 7.08. L
in all matters herein.
Time is of the essence
Section 7.09. Severability. In the event any provision of
this Mortgage shall be invalid, illegal or unenforceable, such
provision or provisions shall be severable from the remainder of
this Mortgage and the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or
impaired.
Section 7.10. Modification. No agreement unless in writing
and signed by an authorized officer of Mortgagee and no course of
dealing between the parties hereto shall be effective to change,
waive, terminate, modify, discharge, or release in whole or in
part any provision of this Mortgage. No waiver of any rights or
powers of Mortgagee or consent by it shall be valid unless in
writing signed by an authorized officer or Mortgagee and then
such waiver or consent shall be effective only in the specific
instance and for the specific purpose of which given.
Section 7.11. Covenants Running With the Land. All
Covenants contained in this Mortgage shall be binding on the
Mortgagor and shall run with the Land.
Section 7.12. Headings. The headings contained herein are
inserted for convenience of reference only and shall in no way
affect the interpretation of this Mortgage.
Section 7.13. Waiver of Jury Trial. THE MORTGAGEE AND THE
MORTGAGOR HEREBY KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND
INTENTIONALLY WAIVE THE RIGHT EITHER THEY OR THEIR SUCCESSORS,
PERSONAL REPRESENTATIVES OR ASSIGNS MAY HAVE TO A TRIAL BY JURY
04- 193
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF,
UNDER OR IN CONNECTION WITH THE LOAN AND ANY AGREEMENTS
CONTEMPLATED HEREBY TO BE EXECUTED, IN CONJUNCTION THEREWITH, OR
ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER
VERBAL OR WRITTEN) OR ACTIONS OF THE PARTIES. THIS PROVISION IS
A MATERIAL INDUCEMENT FOR THE MORTGAGEE ENTERING INTO THE LOAN
SECURED HEREBY.
IN WITNESS WHEREOF, this Mortgage has been duly signed and
sealed by the Mortgagor on or as of the day and year first above
written.
Signed, sealed and delivered MORTGAGOR:
in the presence of:
CITADEL ARENA CORPORATION
[Print Name]
[Print Name]
LKK/pb/M460
3/09/94 8:00 AM
By:
Daniel Arias, President
-41- A- 193
STATE OF FLORIDA)
)SS:
COUNTY OF DADE )
The foregoing instrument was acknowledged before me this
day of , 1994, by Daniel Arias, President of
Citadel Arena Corporation, a Florida corporation. He is
personally known to me (YES) (NO), or has produced
as identification and did not take an oath.
WITNESS my hand and official seal the date aforesaid.
My Commission Expires:
LKK/pb/M460
Rev. 3/09/94 1:57 PM
Notary Public State of
Florida at Large
[Print Name of Notary)
-42- 4- 193
98-1181
Members, shall operate police vehicles in a safe manner at all times
and will be held accountable for their own carelessness' or negligence.
if, in the event of an accident, carelessness or negligence on the
part of the operating member is determined to be a contributing factor;
it shall be made the subject of appropriate disciplinary action.
He is also in violation of Civil Service Rules and Regulations:
Sec. 14.2 GROUNDS FOR DISMISSAL, SUSPENSION AND DEMOTION.
The following are declared to constitute a breach of duty and tobe
grounds for --dismissal or suspension f om�11, the classified service or
grounds for demotion, though charges may be based upon causes other
than those enumerated, viz; that any employee who has been guilty of
conduct unbecoming any employee of the Cif Miami, who:
(e) Has violated any lawful and reasonable official regulation or
order, or failed to obey any lawful or reasonable direction made and
given by his/her superior, where such violation or failure to obey
amounts to an act of insubordination or serious breach of proper
discipline, or resulted, or reasonably might be expected to result,
in loss or injury to the..,City. or : the.. -prisoners or wards of the City; or
(1) Is careless or negligent of the property of the City of Miami.
For violation of the above mentioned Departmental Order and Civil
Service Rules and Regulations,_ and according to Departmental Order 12,
Chapter 4.4.12.6.3, for the third: -preventable accident within twelve
(12) months, I recommend that Officer Gibson receive this reprimand, an
automatic suspension for forty (40) hours, loss of driver's privilege
for three (3) months and remedial driver's training.
3
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11S1
GUARANTY AGREEMENT
This Guaranty Agreement (this "Guaranty"), dated as of the
day of , 1994, made by DANIEL ARIAS and
MIRIAM ARIAS (each a "Guarantor" and collectively "the
Guarantors"), jointly and severally, in favor of THE CITY OF
MIAMI (the "CITY"), a municipal corporation of the State of
Florida;
WHEREAS, CITADEL ARENA CORPORATION, a Florida corporation
(the "Borrower") is indebted to the City in the principal amount
of $2,500,000 (the "Loan") evidenced by that certain Promissory
Note ("Note") of even date herewith made by Borrower to City,
secured by that certain Mortgage and Security Agreement and that
certain Assignment of Lease and Rents and that certain Pledge of
Stock Agreement dated of even date herewith and the mortgage and
assignment instruments described therein (collectively, the
"Mortgage") encumbering certain real and personal property
located in the City of Miami, Dade County, Florida, including the
real property legally described in Exhibit A attached hereto (the
"Property"). The Note and the Mortgage, together with any
renewals and other modifications thereof and substitutions
therefor, are hereinafter called the "Note" and the "Mortgage",
respectively;
WHEREAS, the Guarantors directly or indirectly own a
substantial interest in the Borrower or have derived or expect to
derive a benefit from the Obligations (as defined in Section 1
hereof) incurred by the Borrower; and
WHEREAS, it is a condition precedent to the City's making
and maintaining the Loan that the Guarantors shall have executed
and delivered this Guaranty; and
WHEREAS, this Guaranty is subject to the rights of the Bank
of Tokyo, Ltd. (the "Bank") as set forth in that certain Guaranty
Agreement executed by Guarantors in favor of Bank dated
NOW, THEREFORE, in consideration of the premises, Ten
Dollars ($10.00) and other good and valuable considerations
(receipt of which are hereby acknowledged), and in order to
induce the City to make. the Loan, each Guarantor agrees as
follows:
Section 1. GUARANTY
The Guarantors hereby jointly and severally and
unconditionally guarantee .the punctual payment when due, whether
at stated maturity, by acceleration or otherwise of all
obligations of the Borrower now or hereafter existing or arising
4- 193
98-1181
under or evidenced by the Note and the Mortgage or relating to
the borrowings evidenced thereby, whether for principal,
interest, fees, expenses, or otherwise and the performance by the
Borrower of all of the covenants on its part to be performed and
observed pursuant to the provisions thereof (such obligations of
the Borrower referred to in this Section 1 being the
"Obligations"), and agree to pay any and all expenses (including
counsel fees and expenses at trial, on appeal, or otherwise)
incurred by the City in enforcing any rights under this Guaranty.
The obligations of each Guarantor hereunder are joint and several
with any other guarantor.
Section 2. GUARANTY ABSOLUTE
Each Guarantor guarantees that the Obligations will be paid
strictly in accordance with the terms of the Note and Mortgage,
regardless of any law, regulation or order now or hereafter in
effect in any jurisdiction affecting any of such terms or the
rights of the City with respect thereto. The liability of each
Guarantor under this Guaranty shall be absolute and unconditional
irrespective of:
(a) any lack of validity or enforceability of the Note or
any agreement or instrument securing the Note
(collectively, the "Security Documents");
(b) any change in the time, manner or place of payment of,
or in any other term of, all or any of the Obligations,
or any other amendment or waiver of or any consent to
departure from the Note or the Security Documents;
(c) any exchange, release or non -perfection of any
collateral, any limitation as to the amount of the
Obligations secured by the Security Documents or any
invalidity, release, amendment or waiver of or consent
to departure from any other guaranty, for all or any of
the Obligations;
(d) the voluntary or involuntary bankruptcy of the Borrower
or any assignment for the benefit of creditors,
reorganization, receivership, liquidation or other
similar proceedings, affecting the Borrower or any of
its assets;
(e) any present or future action of any governmental
authority amending, varying, reducing or otherwise
affecting, or purporting to affect, vary, reduce or
otherwise affect, any of the Obligations, any of the
Security Documents or this Guaranty;
(f) any other event.or circumstance which might otherwise
constitute a defense available to, or a discharge of,
the Borrower or a guarantor.
-2-
d- 193
This Guaranty shall continue to be effective or be reinstated, as
the cases may be, if at any time any payment of any of the
Obligations is rescinded or must otherwise be returned by the
City upon the insolvency, bankruptcy or reorganization of the
Borrower or otherwise, all as though such payments had not been
made.
Section 3. WAIVER
Each Guarantor hereby waivers promptness, diligence, notice
of acceptance and any other notice with respect to any of the
Obligations and this Guaranty, any requirement that the City
protect, secure, perfect or insure any security interest or lien
or any property subject thereto or exhaust any right or take any
action against the Borrower or any other person or entity or any
collateral, and any defense based on any event or circumstance
described in clause 2(a), 2(b), 2(c), 2(d), 2(d), or 2(f).
Section 4. NO SUBROGATION, Etc.
The Guarantors shall not have, and hereby waive, any right
of subrogation, contribution, indemnity or otherwise against the
Borrower that may arise by any payment made under this Guaranty,
any right to enforce any remedy that the City now has or may
hereafter have against the Borrower and any benefit of or right
to participate in, any security now or hereafter held by the
City.
Section 5. SUBORDINATION OF GUARANTOR'S CLAIMS
Each Guarantor hereby agrees that any indebtedness of the
Borrower now or hereafter existing to such Guarantor is hereby
subordinated to the indebtedness of the Borrower to the City; and
such indebtedness of the Borrower to such Guarantor during the
period of the existence of a default hereunder or by the Borrower
under any of the Security Documents shall be collected, enforced
and received by such Guarantor in trust for the benefit of the
City, and shall be paid over to the City on account of the
indebtedness of the Borrower to the City; but without impairing
or affecting in any manner the liability of such Guarantor under
the other provisions of this Guaranty. So long as no default
exists hereunder or by the Borrower under the Note or any of the
Security Documents, each Guarantor may apply to its own account
payments made to such Guarantor by Borrower on Borrower's
indebtedness held by or due such Guarantor.
Section 6. REPRESENTATIONS AND WARRANTIES
Each Guarantor hereby represents and warrants (and as long
as the Note or Mortgage is,in effect shall be deemed continuously
to represent and warrant) to the City as follows:
_3_ 193
98--1181
(a) The execution, delivery and performance by such
Guarantor of this Guaranty do not contravene law or any
contractual restriction binding on or affecting such
Guarantor, and do not result in or require the creation
of any lien, security interest or other charge or
encumbrance (other than pursuant thereto) upon or with
respect to any of such Guarantor's properties.
(b) No authorization or approval or other action by, and no
notice to or filing with, any person or any
governmental authority or regulatory body, is required
for the due execution, delivery and performance by such
Guarantor of this Guaranty.
(c) This Guaranty is the legal, valid and binding
obligation of such Guarantor enforceable against such
Guarantor in accordance with its terms.
(d) There is no pending or threatened action or proceeding
affecting such Guarantor before any court, governmental
agency or arbitrator, which may materially adversely
affect such Guarantor's financial condition.
Section 7. AFFIRMATIVE COVENANTS
Each Guarantor covenants and agrees that, so long as any
part of the Obligations shall remain unpaid, such Guarantor will,
unless the City shall otherwise consent in writing:
(a) Compliance With Laws, Etc. Comply in all material
respects with all applicable laws, rules, regulations
and orders (such compliance to include, without
limitation, paying before the same become delinquent
all taxes, assessments and governmental charges imposed
upon such Guarantor or upon such Guarantor's property
except to the extent that such taxes, assessments or
governmental charges are contested in good faith and
such Guarantor has made adequate provision for payment
thereof) non-compliance with which would have a
material adverse effect on the financial condition or
business of such Guarantor.
(b) Maintenance of Properties, Etc. Maintain all of such
Guarantor's properties in good repair and condition.
(c) Maintenance of Insurance. Maintain insurance with
responsible and reputable insurance companies or
associations in such amounts and covering such risks as
is usually carried by persons owning similar properties
in the same general areas in which such Guarantor's
properties are located.
98-1_1Si
-4- 4- 193
(d) Maintenance of Insurance. Maintain insurance with
responsible and reputable insurance companies or
associations in such amounts and covering such risks as
is usually carried by persons owning similar properties
in the same general areas in which such Guarantor's
properties are located.
(e) Reporting Requirements. Furnish to the City the
following:
(i) as soon as available and in any event within 90
days after the end of each fiscal year of such
Guarantor, an annual financial statement of such
Guarantor for such fiscal year in form
acceptable to the City and certified by such
Guarantor;
(ii) notice of any event which has or may have a
material adverse effect upon the financial
condition of such Guarantor;
as soon as possible and in any event within five
days after the commencement thereof or any
adverse determination therein, notice of all
actions, suits and proceedings before any court
or governmental department, commission, board,
bureau, agency or instrumentality materially
affecting such Guarantor; and
(iv) such information respecting the condition or
operations, financial or otherwise, of such
Guarantor as the City may from time to time
reasonably request.
Section 8. NEGATIVE COVENANTS
Each Guarantor covenants and agrees that, so long as any
part of the Obligations shall remain unpaid, such Guarantor will
not, without the prior written consent of the City:
(a) Asset Transfer, Etc. Sell or dispose of any of its
interest in the Borrower, except for transfers arising
by death or permanent disability of a Guarantor.
(b) Net Worth Requirement. Take any action which will
reduce such Guarantor's net worth below the amount of
net worth shown on the financial statements previously
submitted by such Guarantor to the City in support of
the Borrower's request for the Loan.
-5-
Section 9. AMENDMENTS ETC.
No amendment or waiver of any provision of this Guaranty nor
consent to any departure by such Guarantor therefrom shall in any
event be effective unless the same shall be in writing and signed
by the City, and then such waiver or consent shall be effective
only in the specific instance and for the specific purpose of
which given.
Section 10. ADDRESSES FOR NOTICES.
All notices and other communications provided for hereunder
shall be in writing and, if to the Guarantors, mailed or
telegraphed or delivered to them, addressed to them at the
following address:
2000 South Bayshore Drive
Villa 62
Miami, Florida 33134
and, if to the City, mailed or delivered to it, addressed to it
at the address of the City of Miami, Department of Development
and Housing Conservation, 300 Biscayne Boulevard Way, Suite 400,
Miami, Florida 33131, or as to each party at such other address
as shall be designated by such party in a written notice to the
other party. All such notices and other communications shall,
when mailed or telegraphed, respectively, be effective when
deposited in the mails or delivered to the telegraph company,
respectively, addressed as aforesaid.
Section 11. NO WAIVER; REMEDIES
No failure on the part of the City to exercise, and no delay
in exercising, any right hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right
hereunder preclude any other or fu-rther exercise thereof or the
exercise of any other right. The remedies herein provided are
cumulative and not exclusive of any remedies provided by law.
Section 12. RIGHT OF SET-OFF
Upon the occurrence of any event of default under any of the
Note or any of the Security Documents, the City is hereby
authorized at any time and from time to time, to the fullest
extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisions or
final) at any time held and other indebtedness at any time owing
by the City to -or for the credit or the account of any of the
Guarantors against any and all of the obligations of any of the
Guarantors now or hereafter existing under this Guaranty,
irrespective of whether or not the City shall have made any
demand under this Guaranty and although such obligations may be
contingent and unmatured. The City agrees promptly to notify the
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98--iist
Guarantors after any such set off and application, provided that
the failure to give such notice shall not affect the validity of
such set-off and application. The rights of the City under this
Section are in addition to other rights and remedies (including,
without limitation, other rights of set-off) which the City may
have.
Section 13. CONTINUING GUARANTY; TRANSFER OF NOTE
This Guaranty is a continuing guaranty and shall (i) remain
in full force and effect until payment in full of the Obligations
and all other amounts payable under this Guaranty and
cancellation and satisfaction of the Note and Mortgage, (ii) be
binding upon the Guarantors and their respective heirs,
successors and assigns, and (iii) inure to the benefit of and be
enforceable by the City and its successors, transferees and
assigns. Without limiting the generality of the foregoing clause
(iii), the City may assign or otherwise transfer the Note and
Security Documents to any other person or entity, and such other
person or entity shall thereupon become vested with all the
rights in respect thereof granted to be City herein or otherwise.
Section 14. GOVERNING LAW
This Guaranty shall be governed by, and construed in
accordance with, the laws of the State of Florida, United States
of America.
Section 15. SEVERABILITY
If any provision of this Guaranty shall be held invalid
under any applicable law; such invalidity shall not affect any
other provision of this Guaranty that can be given effect without
the invalid provision, and, to that end, the provisions hereof
are severable.
Section 16. JURISDICTION
The Guarantors hereby irrevocably submit to the non-
exclusive jurisdiction of any state court of competent
jurisdiction sitting in the State of Florida and any United
States District Court of competent jurisdiction sitting in the
State of Florida in any action or proceeding arising out of or
relating to this Guaranty and the Guarantors hereby irrevocably
agree that all claims in -respect of such action or proceedings
may be held and determined in such court of the State of Florida
or in such United States District Court of Florida. The
Guarantors hereby irrevocably waive, to the fullest extent they
may effectively do so, the defense of an inconvenient forum to
the maintenance of such action or proceeding and any right to
limit jurisdiction on account of their place of residence or
domicile.
Section 17. COUNTERPARTS
This Guaranty may be executed by the Guarantors in separate
counterparts.
Section 18. HEADINGS
The headings of the various sections herein are for
convenience of reference only and shall not define or limit any
of the terms or provisions hereof.
Section 19. WAIVER OF JURY TRIAL
THE CITY AND EACH GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY
AND INTENTIONALLY WAIVE ANY RIGHT THEY MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY ACTION, PROCEEDING OR COUNTERCLAIM BASED
ON THIS GUARANTY OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH
THIS GUARANTY AND ANY AGREEMENT CONTEMPLATED TO BE EXECUTED IN
CONNECTION HEREWITH OR ANY COURSE OF CONDUCT, COURSE OF DEALING,
STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTION OF EITHER PARTY.
THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE CITY TO ACCEPT
THIS GUARANTY AND TO MAKE, RENEW OR EXTEND A LOAN, ADVANCE OR
OTHER FINANCIAL ACCOMMODATION TO THE BORROWER.
IN WITNESS WHEREOF, each Guarantor has duly executed and
delivered this Guaranty as of the date first above written.
WITNESSES:
DANIEL ARIAS
MIRIAM ARIAS
LKK/pb/M476
Rev. 3/07/94 5:06 PM
94- 193
STATE OF FLORIDA)
)SS:
COUNTY OF DADE )
This instrument was acknowledged before me this day of
A,1994, by DANIEL ARIAS. He is personally
known to me or has produced a Florida Motor Vehicle Driver's
License as identification.
Notary Public State of Florida
DANIEL ARIAS
STATE OF FLORIDA)
)SS:
COUNTY OF DADE )
This instrument was acknowledged before me this day of
, 1994, by MIRIAM ARIAS. He is personally
known to me or has produced a Florida Motor Vehicle Driver's
License as identification.
Notary Public State of Florida
MIRIAM ARIAS
04- 193
ASSIGNMENT OF LEASES AND RENTS
THIS ASSIGNMENT is made as of this day of
, 19_, by CITADEL ARENA CORPORATION, a Florida
Corporation, having a mailing address at 2000 South Bayshore
Drive, #62, Miami, Florida 33133 (the "Assignor") to the City of
Miami, Florida, a Florida municipal corporation, acting by and
through the Director of the Department of Development and Housing
Conservation (the "Assignee").
W I T N E S S E T H:
1. For the purpose of securing the payment of the
principal sum, interest, and indebtedness evidenced by a certain
Promissory Note executed of even date herewith by Assignor in
favor of Assignee in the original principal amount of Two Million
Five Hundred Thousand Dollars ($2,500,000.00) (the "Note"), and
any amendments, extensions or renewals thereof, and secured by a
certain Mortgage and Security Agreement (the "Mortgage") also of
even date herewith, encumbering certain premises located in Dade
County, Florida, the legal description of which is attached
hereto as Exhibit "A" (the "Property"), and as part of the
consideration for the indebtedness evidenced by the Note, the
Assignor hereby absolutely and unconditionally assigns and
transfers to Assignee, all the rents and revenues of the
Property, including those to become due by virtue of any lease or
other agreement for the occupancy or use of all or any part of
the Property, regardless of to whom the rents and revenues of the
Property are payable, subject to the rights of the Bank of Tokyo,
Ltd. (the "Bank") as set forth in that certain Assignment of
S_ �_S-1
-1- 14- 193
said rents, that Assignor has not performed, and will not
perform, any acts or has not executed and will not execute any
prior assignment of said rents, that Assignor has not performed,
and will not perform, any acts or has not executed, and will not
execute, any instrument which would prevent Assignee from
exercising its rights under this paragraph and that at the time
of execution of this instrument there has been no anticipation or
prepayment of any of the rents of the Property for more than two
(2) months prior to the due dates of such rents. Assignor
covenants that, unless otherwise provided in the Mortgage,
Assignor will not hereafter collect or accept payment of any
rents of the Property more than two (2) months prior to the due
dates of such rents without prior written approval of the
Assignee. Assignor further covenants that Assignor will execute
and deliver to Assignee such further assignments of rents and
revenues of the Property as Assignee may from time to time
request.
4. Assignor shall provide Assignee with a copy of all
future leases with respect to the Property which future leases
shall be properly executed and witnessed.
5. Subject to the rights of Bank, upon Assignor's breach
of any covenant or agreement of Assignor in this instrument or in
the Note, Mortgage, or Loan Agreement, Assignee may in person, by
agent or by a court -appointed receiver, regardless of the
adequacy of Assignee's security, enter upon and take and maintain
full control of the Property in order to perform all acts
necessary and appropriate for the operation and maintenance
-3- 0 4- 193
98-1181.
Lessor's Interest in Lease dated March 18, 1988 and that certain
Second Modification of Mortgage and Assignment Agreement dated
, executed by Assignor in favor of Bank
(collectively "Bank Assignment").
2. Subject to the Bank Assignment: (a) Assignor hereby
authorizes Assignee or Assignee's agents to collect the aforesaid
rents and revenues and hereby directs each tenant of the Property
to pay such rents to Assignee or Assignee's agents; (b) upon
breach by Assignor of any covenants or agreements of Assignor in
this instrument, the Note or the Mortgage, or in the Loan
Agreement all of which are executed of even date herewith by
Assignor and Assignee, and without the necessity of Assignee
either delivering written notice of such breach to Assignor or
entering upon and taking and maintaining full control of the
Property in person, by agent or by a court -appointed receiver,
Assignee shall immediately be entitled to possession of all rents
and revenues of the Property as specified herein as the same
become due and payable, including but not limited to rents then
due and unpaid, and all such rents shall immediately be held by
Assignor as trustee for the benefit of Assignee only; and (c)
Assignor agrees that commencing upon Assignor's breach, each
tenant of the Property shall make such rents payable to and pay
such rents to Assignee or Assignee's agents without any liability
on the part of said tenant to inquire further as to the existence
of a default by Assignor.
3. Other than the Bank Assignment, Assignor hereby
covenants that Assignor has not executed any prior assignment of
94- 193
9S-I181
thereof including, but not limited to, the execution,
cancellation or modification of leases, the collection of all
rents and revenues of the Property, the making of repairs to the
Property and the execution or termination of contracts providing
for the management or maintenance of the Property, all on such
terms as are deemed best to protect the security of the Mortgage.
In the event Assignee elects to seek the appointment of a
receiver for the Property upon Assignor's breach of any covenant
or agreement that Assignor made in this Assignment or in the
Mortgage, Assignor hereby expressly consents to the appointment
of such receiver. Assignee or the receiver shall be entitled to
receive a management fee for so managing the Property.
6. All rents and revenues collected subsequent to the
breach by Assignor of any covenants or agreements of Assignor in
this Assignment or the Mortgage shall be applied, first to the
costs, if any, of taking control or managing the Property and
collecting the rents, including, but not limited to, attorney's
fees, receiver's fees, premiums on receiver's bonds, costs of
repairs to the Property, premiums on insurance policies, taxes,
assessments and other charges on the Property, and the costs of
discharging any obligation or liability of Assignor as lessor or
landlord of the Property and then to the sums secured by the
Mortgage. Assignee or the receiver shall have access to the
books and records used in the operation and maintenance of the
Property and shall be liable to account only for those rents
actually received. Assignee shall not be liable to Assignor, any
one claiming under or through Assignor or any one having any
-4- 094 - 193
98-1181
interest in. the Property by reason of anything done or left
undone by Assignee hereunder.
7. If the rents of the Property are not sufficient to meet
the costs, if any, of taking control of and managing the Property
and collecting the rents, any funds expended by Assignee for such
purposes shall become an indebtedness of Assignor to Assignee
secured by the Mortgage. Unless Assignee and Assignor agree in
writing to other terms of payment, such amounts shall be payable
upon notice from Assignee to Assignor requesting payment thereof
and shall bear interest at the highest rate which may be
collected from Assignor under applicable law.
8. Any entering upon and maintaining of control of the
Property by Assignee or the receiver and any application of rents
as provided herein shall not cure or waive any default hereunder
or invalidate any other right or remedy of Assignee under
applicable law or provided herein.
9. Nothing contained in this instrument, and no act done
or omitted by the Assignee pursuant to the powers and rights
granted it hereunder, shall be deemed to be a waiver by the
Assignee of its rights and remedies under the Note, the Loan
Agreement, and the Mortgage, and this instrument is made and
accepted without prejudice to any of the rights and remedies
possessed by the Assignee_ under the terms of the Note, the Loan
Agreement, and; the Mortgage. The right of the Assignee to
collect said principal sum, interest and indebtedness and to
enforce any other security therefor held by it may be exercised
by the Assignee either prior to, simultaneously with or
subsequent to any action taken by it hereunder. 9 S - 1 1 ,S j
-5- ct) 4 — 193
lo. It. is understood that the Assignee may assign this
instrument and upon such assignment the recipient and subsequent
Assignee(s) shall have all of the rights and remedies with
respect to the Assignor and the collateral as the original
Assignee hereunder.
11. In the case of any conflict between the terms of this
instrument and the terms of the Mortgage, the terms of the
Mortgage shall prevail.
12. This instrument, together with the covenants and
warranties herein contained, shall inure to the benefit of the
Assignee, and any subsequent holder of the Note and Mortgage,
shall be binding upon the Assignor, its successors and assigns,
and any subsequent owner of the Property. This Assignment shall
terminate at such time as the Mortgage ceases to secure
indebtedness held by the Assignee.
13. THE ASSIGNOR AND THE ASSIGNEE HEREBY KNOWINGLY,
IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER
THEY OR THEIR SUCCESSORS, PERSONAL REPRESENTATIVES OR ASSIGNS MAY
HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED
HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS
ASSIGNMENT AND ANY AGREEMENTS CONTEMPLATED HEREBY TO BE EXECUTED,
IN CONJUNCTION THEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE
PARTIES. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE
ASSIGNEE ENTERING INTO THE LOAN SECURED HEREBY.
-6- 94- 193
98-1181
IN WITNESS WHEREOF, the Assignor has caused this Assignment
to be executed, effective as of the date first above written.
WITNESSES:
STATE OF FLORIDA)
)SS:
COUNTY OF DADE )
ASSIGNOR:
CITADEL ARENA CORPORATION
a Florida Corporation
By:
Daniel Arias, President
The foregoing instrument was acknowledged before me this
day of , 1993 by Daniel Arias, as
President of Citadel Arena Corporation, a Florida corporation.
He is personally known to me (YES) (NO) or has produced
as identification and did not take an oath.
Notary Public, State of Florida
at Large
(Print Name of Notary]
My Commission Expires:
LKK/pb/M462
3/08/94 3:36 PM
AGREEMENT
THIS AGREEMENT made as of this day of ,
1994, between CITY OF MIAMI, a municipal corporation of the State
of Florida, having an address at c/o Director, Department of
Development and Housing Conservation, 300 Biscayne Boulevard way,
Suite 400, Miami, Florida 33131 (hereinafter referred to as the
"Second Mortgagee"); THE BANK OF TOKYO, LTD., having an address at
2100 Ponce de Leon Boulevard, Penthouse Suite, Coral Gables,
Florida 33134 (hereinafter referred to as the "First Mortgagee");
and CITADEL ARENA CORPORATION, a Florida corporation having an
address at c/o Daniel Arias, 2000 South Bayshore Drive, Villa 62,
Miami, Florida 33133 (hereinafter referred to as the "Mortgagor");
W I T N E S S E T H:
WHEREAS,. Mortgagor is the fee owner of the property
legally described in Exhibit "A" attached hereto and is the owner
of the other property encumbered by the First Mortgage Documents
(all of the foregoing property being herein called the "Mortgaged
Property");
WHEREAS, First Mortgagee is the owner and holder of a
note in the original principal sum of $750,000.00 dated March 18,
1988, secured by a mortgage made by Daniel Arias and Miriam Arias
to First Mortgagee dated March 18, 1988, recorded in Official
Records Book 13614 at Page 552, as such note and mortgage are
modified by Amendment of Note and Mortgage Agreement dated as of
March 18, 1993, recorded in Official Records Book 16162 at Page
4398 and Modification of Mortgage Agreement dated as of August 23,
1993 recorded in Official Records Book 16162 at Page 4394, all in
the Public Records of Dade County, Florida, and a Renewal Note
dated August 23, 1993, as such documents are modified and assumed
by Note, Mortgage and Assignment Modification and Assumption
Agreement dated of even date herewith between Daniel Arias and
Miriam Arias, his wife, Mortgagor and First Mortgagee, and as
further modified by a Second Renewal Note dated of even date
herewith and a Second Modification of Mortgage and Assignment
Agreement of even date herewith to be recorded in the Public
Records of Dade County, Florida, which mortgage instruments
encumber the Mortgaged Property (which mortgage as modified and any
other security instruments securing the aforesaid note as modified
by the Amendment of Note and Mortgage Agreement, the. Renewal Note
and the Second Renewal Note, including the Assignment of Lessor's
Interest in Leases made by Daniel Arias and Miriam Arias to First
Mortgagee dated March 18, 1988, recorded in Official Records Book
13614 at Page 569 of the Public Records of Dade County, Florida,
are herein collectively referred to as the "First Mortgage
Documents"); -
WHEREAS, Second Mortgagee is about to make a
$2 400, 000.00 construction loan to Mortgagor evidenced by a note in
the original principal sum of $2,500,000.00, dated of even date
herewith, to be advanced pursuant to a loan agreement of even date
herewith and secured by a mortgage and security agreement and an
assignment of leases and rents from Mortgagor to Second Mortgagee
dated of even date herewith, to be recorded in the Public Records
of Dade County, Florida (which mortgage and security agreement,
PREPARED BY AND RETURN TO:
ROBERT C. SOMMERVILLE, P.A.
SHUTTS & BOWEN o
222 Lakeview Avenue, Suite 1000 1 4- 193
West Palm Beach, Florida 33401
assignment of leases and rents, loan. agreement and any other
security instruments securing the aforesaid $2,500,000.00 note are
herein collectively referred to as the "Second Mortgage
Documents");
WHEREAS, as an inducement and condition for Second
Mortgagee making the loan secured by the Second Mortgage Documents
and for First Mortgagee consenting to such loan and modifying the
First Mortgagee's loan by the Second Renewal Note and the Second
Modification of Mortgage and Assignment Agreement, the parties
hereto have agreed to enter into this Agreement;
NOW, THEREFORE, in consideration of the foregoing and the
sum of $10.00 and other good and valuable considerations, the
receipt of which is hereby acknowledged, the parties hereto agree
as follows:
1. Notwithstanding any provision to the contrary in the
First Mortgage Documents, First Mortgagee hereby consents to the
execution and delivery of the Second Mortgage Documents, and agrees
that the execution and delivery of the Second Mortgage Documents do
not cause, create or constitute a default under any provisions of
the First Mortgage Documents.
2. First Mortgagee hereby consents to the proposed
construction of a building and other improvements on, and
constituting a part of, the Mortgaged Property as more particularly
described in Exhibit "B" hereto (the "Work") in substantial
compliance with the plans and specifications for the Work to be
approved by the Second Mortgagee (the "Plans"). Mortgagor shall
deliver to First Mortgagee a copy of such Plans approved by Second
Mortgagee before beginning construction. Second Mortgagee and
Mortgagor agree that the estimated cost of the Work described by
the Plans shall not exceed a total maximum cost of $
3. Second Mortgagee does'hereby declare and agree that
the Second Mortgage Documents are and shall continue to be subject
and subordinate to the lien, security interest and all of the terms
and conditions of the First Mortgage Documents (including, without
limitation, any assignments of or rights with respect to leases or
rents or condemnation awards or insurance proceeds or any other
income or proceeds of the Mortgaged Property), as same may be from
time to time amended, supplemented, restated, renewed, extended,
consolidated or modified.
4. Any lien, security interest, encumbrance, estate,
right or any other interest which Second Mortgagee may hereafter
obtain or acquire, directly or indirectly, by subordination,
subrogation or otherwise, with respect to the Mortgaged Property or
any part thereof, and whether or not secured by any of the Second
Mortgage Documents, shall be subject and subordinate to the First
Mortgage Documents.
5. If any action or proceeding shall be brought to
foreclose or otherwise enforce the Second Mortgage Documents, no
tenant of any portion of the Mortgaged Property will be named as a
party defendant, nor will any action be taken with respect to the
Mortgaged Property which would terminate any tenancy of the
Mortgaged Property or service contract relating to the Mortgaged
Property without the prior written consent of First Mortgagee,
unless such tenant or service contractor is in default.beyond any
grace period in its tenant lease or service contract.
6. All rights of Second Mortgagee with respect to
insurance proceeds, condemnation awards, rents, issues, profits and
other income or proceeds of the Mortgaged Property set forth in the
Second Mortgage Documents or otherwise shall be subject and
subordinate to the First Mortgage Documents and the rights of First
Mortgagee thereunder, subject to the further provisions of this
paragraph with respect to insurance proceeds and condemnation
-2- 98- 111 1 A- 193
awards and the provisions of paragraph 10 of this Agreement with
respect to rents, issues and profits. If First Mortgagee, Second
Mortgagee or Mortgagor shall receive any insurance proceeds or
condemnation awards with respect to the Mortgaged Property, same
shall be applied in accordance with the terms and provisions of the
First Mortgage Documents or any election made thereunder by First
Mortgagee.
7. Upon request of First Mortgagee, Second Mortgagee
shall execute and deliver to First Mortgagee such further documents
as First Mortgagee may reasonably request in order to confirm the
subordination of the Second Mortgage Documents to the First
Mortgage Documents, as the First Mortgage Documents may from time
to time be amended, supplemented, restated, extended, renewed,
consolidated or modified.
8. No failure to exercise and no delay in exercising on
the part of First Mortgagee of any right, power or privilege under
the First Mortgage Documents or this Agreement shall operate as a
waiver thereof; nor shall any single or partial exercise of any
right, power or privilege under the First Mortgage Documents or
this Agreement preclude any other or further exercise thereof or
the exercise of any other right, power or privilege provided by
law. The rights and remedies provided in this Agreement, the First
Mortgage Documents and all other agreements, instruments and
documents referred to in any of the foregoing shall be cumulative
and shall not be exclusive of any right or remedies provided by
law.
9. At least ten (10) days prior to accelerating the
indebtedness secured by the Second Mortgage Documents or the Second
Mortgagee's institution of any action or proceeding to enforce any
right or remedy under the Second Mortgage Documents, including
without limitation, any foreclosure action or the appointment of
any receiver, or action to become a mortgagee in possession or
action to enforce an assignment of rents or sequestration of rents
or otherwise obtain the income generated by the Mortgaged Property,
Second Mortgagee shall give First Mortgagee written notice of the
default by Mortgagor under the Second Mortgage Documents or other
event resulting in any such action by Second Mortgagee.
10. So long as the First Mortgage Documents and the
indebtedness secured thereby shall remain unsatisfied, the rents,
issues and profits and other income or proceeds of or generated by
the Mortgaged Property if collected through a receiver or by First
Mortgagee or by Second Mortgagee or by rent sequestration or other
legal procedure by virtue of First Mortgagee's or Second
Mortgagee's exercise of its rights and remedies (herein
collectively referred to as "Collected Mortgaged Property Income")
shall be applied first to payment of taxes, insurance, maintenance
and operating charges and.. reasonable reserves for such items
(including, without limitation, payment of that portion of the
Monthly Deposit Payment due under the First Mortgage Documents into
the Sinking Fund Account for the payment of annual taxes and
insurance premiums); second to payment of the then current Monthly
Deposit Payment due under the First Mortgage Documents into the
Sinking Fund Account for the payment of monthly interest payments
and semiannual payments of principal due under the Second Renewal
Note and the First Mortgage Documents, any accrued unpaid
installments of principal or interest due under the Second Renewal
Note and any other obligations then due which are secured by the
First Mortgage Documents (including reasonable attorneys' fees and
other costs of collection incurred by the First Mortgagee) and
third to the payment of the then current monthly interest and
principal payments due Second Mortgagee under the Second Mortgage
Documents and the note secured thereby and any accrued unpaid
installments of principal or interest due under the Second Mortgage
Documents and the note secured thereby. Any remaining amount of
Collected Mortgaged Property Income after payment of the items set
forth in the preceding sentence, if any, shall be paid to First
_398-1181 `4- 193
Mortgagee to be applied to reduction of the unpaid principal
indebtedness secured by the First Mortgage Documents. It is
further agreed that at any time while Second Mortgagee is
collecting any Collected Mortgaged Property Income, First
Mortgagee, at its option, may seek the appointment of a receiver to
collect such items or may collect such items itself, and Second
Mortgagee shall execute and deliver such documents and take such
action as may be requested by First Mortgagee to enable First
Mortgagee to obtain the appointment of a receiver of its own choice
or to enable First Mortgagee to collect the Collected Mortgaged
Property Income and otherwise to provide First Mortgagee with
paramount control of such remedies with respect to the Collected
Mortgaged Property Income. In the event First Mortgagee or Second
Mortgagee is collecting the Collected Mortgaged Property Income,
then such collecting party shall furnish the other parties to this
Agreement with a monthly report of such collections and
disbursements in reasonable detail.
From such time as First Mortgagee shall give Second
Mortgagee Notice of any monetary default under the First Mortgage
Documents or the Second Renewal Note secured thereby, and until
such default shall be cured, waived or the First Mortgage Documents
and the indebtedness secured thereby be satisfied, Second Mortgagee
shall not receive or accept any payment in respect of any sum
secured by the Second Mortgage Documents. Any payments received by
second Mortgagee after receipt from First Mortgagee of the Notice
of default by Mortgagor shall be promptly remitted to First
Mortgagee to the extent of the amount then due First Mortgagee
under the First Mortgage Documents and the indebtedness secured
thereby and Second Mortgagee shall promptly notify First Mortgagee
of such receipt. Nothing in this Agreement shall, unless and until
such time Second Mortgagee has received Notice of a monetary
default under the First Mortgage Documents or the Second Renewal
Note secured thereby from First Mortgagee, preclude Second
Mortgagee from accepting and applying any payment received under
the Second Mortgage Documents or on the indebtedness secured
thereby.
11. Notwithstanding anything to the contrary which may
be contained in the First Mortgage Documents, so long as the Second
Mortgage and the indebtedness secured thereby shall remain
unsatisfied, First Mortgagee shall take no action to accelerate the
indebtedness secured by the -First Mortgage Documents or to file a
foreclosure action as a result of a default thereunder ("Default")
without first giving Second Mortgagee written notice of such
Default ("Default Notice To Second Mortgagee") and the right (but
Second Mortgagee shall not be obligated) to cure such Default
within a period of fifteen (15) days for monetary Defaults and
thirty (30) days for non -monetary Defaults after such notice is
given to Second Mortgagee; provided if such non -monetary Default
cannot reasonably be cured within such thirty (30) day period, and
Second Mortgagee or Mortgagor shall have given notice to First
Mortgagee that either of them intend to cure the Default and have
commenced a cure and shall be diligently prosecuting same within
such thirty (30) day period (and further delay does not jeopardize
or impair the lion or security of the First Mortgagee or subject
the First Mortgagee to criminal liability), then such thirty (30)
day period shall be extended for a reasonable period of time by
First Mortgagee, but in no event in excess of one hundred twenty
(120) days after such Default Notice to Second Mortgagee is given
(the foregoing cure periods set forth in this sentence are
hereinafter referred to as the "Initial Cure Periods"). First
Mortgagee agrees with Second Mortgagee that First Mortgagee shall
not hold a foreclosure sale in any foreclosure action filed as a
result of such Default until the expiration of one hundred eighty
(180) days after Default Notice To Second Mortgagee is given by
First Mortgagee to Second Mortgagee (the "Second Mortgagee's 180
Day Cure Period") and Second Mortgagee shall have the right (but
shall not be obligated) to cure the Default and all other
subsequent defaults continuing uncured under the First Mortgage
-4- 9- __ S1 114 193
Documents to the date of Second Mortgagee's curing of the Default,
including without limitation, the payment of all of First
Mortgagee's costs (including reasonable attorneys' fees) incurred
by First Mortgagee in the foreclosure action or in otherwise
enforcing its rights and remedies under the First Mortgage
Documents (such subsequent defaults and costs are collectively
referred to as "Subsequent Defaults"). In the event Second
Mortgagee cures the Default and the Subsequent Defaults within the
Second Mortgagee's 180 Day Cure Period so that there are then no
outstanding uncured defaults under the First Mortgage Documents,
then First Mortgagee shall file a voluntary dismissal of the
foreclosure action. If the Default and the Subsequent Defaults are
not both cured within the Second Mortgagee's 180 Day Cure Period
(it being agreed that any payment to First Mortgagee shall first be
applied to satisfaction of any outstanding Subsequent Defaults
before being applied to satisfaction of the Default and that all
Subsequent Defaults must be cured by Second Mortgagee before Second
Mortgagee may cure the Default), then the foreclosure sale may be
held at any time at First Mortgagee's sole option. Notwithstanding
the foregoing, if Second Mortgagee or its assignee or nominee
obtains title to the Mortgaged Property or any portion thereof by
purchase at a foreclosure sale with respect to the Second Mortgage
Documents or by a deed in lieu of foreclosure, or otherwise, then
the Second Mortgagee's 180 Day Cure Period shall expire on the date
of such acquisition of title ("Expiration Date") and the
foreclosure sale with respect to the First Mortgagee Documents may
be held at any time after the Expiration Date.
It is understood and agreed that the provisions of
this paragraph 11 are solely for the benefit of First Mortgagee and
Second Mortgagee and the provisions of this paragraph may be
modified or waived by written agreement of First Mortgagee and
Second Mortgagee without prior notice to or the consent of the
Mortgagor. It is further agreed that nothing set forth in this
paragraph shall impair or adversely affect the lien and first
priority of the First Mortgage. Nothing in this paragraph 11 shall
impair or prevent or adversely affect First Mortgagee's right to
collect the rents, issues and profits and other income or proceeds
of or generated by the Mortgaged Property by appointment of a
receiver or as a mortgagee in possession or under the Assignment of
Lessor's Interest in Leases or any of the other First Mortgage
Documents or by rent sequestration or other legal procedure or
otherwise and to have such. Collected Mortgaged Property Income
applied as provided in paragraph 10 of this Agreement during the
time that any default is continuing under any of the First Mortgage
Documents, whether during the Second Mortgagee's 180 Day Cure
Period or the Initial Cure Period and with or without the filing of
a foreclosure action.
12. First Mortgagee shall not make any future advances
under the First Mortgage Documents without the prior written
consent of Second Mortgagee, except for advances made for real
estate taxes, insurance premiums or other advances to protect and
preserve its lien and security interest in, or the value of, the
Mortgaged Property. First Mortgagee shall not modify the First
Mortgage Documents so as to increase the stated monthly interest
payments or principal payments without the prior written consent of
Second Mortgagee.
13. Second Mortgagee shall not make any future advances
under the Second Mortgage Documents without the prior written
consent of First Mortgagee, except for advances made for real
estate taxes, insurance premiums or other advances to protect and
preserve its lien and security interest in, or the value of, the
Mortgaged Property. Second Mortgagee shall not modify the Second
Mortgage Documents so as to increase the stated monthly interest
payments or principal payments without the prior written consent of
First Mortgagee. = - 19 3
-5- 98-1181
14. This Agreement shall terminate and cease to be of
any further force or effect upon release or satisfaction of the
First Mortgage Documents by instrument executed by the First
Mortgagee and recorded in the Public Records of Dade County,
Florida; provided, however, that this Agreement shall continue to
be effective, or be reinstated, as the case may be, if, at any
time, payment of the indebtedness secured by the First Mortgage
Documents, or any part thereof, is rescinded or must otherwise be
restored or returned by the First Mortgagee upon the insolvency,
liquidation or reorganization of Mortgagor, or upon or as a result
of the appointment of a receiver, or conservator of, or trustee or
similar officer for, Mortgagor, or any substantial part of its
property, or otherwise, all as though such payments had not been
made.
15. Without any notice to or consent by Second
Mortgagee, without limiting or diminishing any rights or remedies
of First Mortgagee hereunder, and without any other action on the
part of First Mortgagee in respect of Second Mortgagee, any demand
for payment of the indebtedness secured by the First Mortgage
Documents made by the First Mortgagee may be rescinded, and the
indebtedness secured by the First Mortgage Documents and the
instruments evidencing and securing the indebtedness secured by the
First Mortgage Documents, the liability of Mortgagor with respect
thereto and any collateral security therefor may from time to time
be renewed, extended, modified, ompromised, waived, surrendered or
released,; provided, however, F _ st M, agge agrees to.ruse its best
efforts o give econd Mortgagee a courtesy notice of any of th
foregoing actions ("Actions"), but failure to give such notic
shall not prevent, impair or invalidate in any manner whatsoeve
any of the Actions.
16. All notices, demands, requests, approvals, consents
or other communications (hereinafter collectively called "Notices")
required or permitted under this Agreement to be given by any of
the parties hereto to any other party shall be in writing and shall
be sent by registered or certified mail, postage prepaid, return
receipt requested, addressed to the parties at the addresses set
forth below or such other address or addresses as they may
theretofore have specified by like Notices:
If to the First Mortgagee:
The Bank of Tokyo, Ltd.
2100 Ponce de Leon Boulevard
Penthouse Suite
Coral Gables, Florida 33134
Attention: Real Estate Lending
If to Second Mortgagee:
City of Miami
c/o Director
Department of Development
and Housing Conservation
300 Biscayne Boulevard Way
Suite 400
Miami, Florida 33131
If to Mortgagor:
Citadel Arena Corporation
c/o Daniel Arias
2000 South Bayshore Drive
villa 62
Miami, Florida 33133 Q _
-6- "4- 193
18. This Agreement shall be binding upon and inure to
the benefit of the parties hereto, their respective heirs, personal
representatives, successors and assigns.
19. This Agreement and the rights and obligations of the
parties hereunder shall be governed by and construed and
interpreted in accordance with the laws of the State of Florida.
20. The amount of principal indebtedness presently
unpaid and outstanding under the Second Renewal Note secured by the
First Mortgage Documents is $700,000.00.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the day and year first above written.
WITNESSES:
Print Name:
Print Name:
Print Name:
Print Name•
ATTEST:
Name: Matty Hirai
Title: City Clerk
FIRST MORTGAGEE:
THE BANK OF TOKYO, LTD.
By:
Name:
Title:
Address:
2100 Ponce de Leon Boulevard
Penthouse Suite
Coral Gables, Florida 33134
SECOND MORTGAGEE:
CITY OF MIAMI, a municipal
corporation of the State of
Florida
By:
Name: Cesar H. Odio
Title: City Manager_
Address:
c/o Director
Department of Development and
Housing Conservation
300 Biscayne Boulevard Way
Suite 400
Miami, Florida 33131
-- 193
-7- 98 --1181
Print Name:
Print Name:
STATE OF FLORIDA )
COUNTY OF DADE )
MORTGAGOR:
CITADEL ARENA CORPORATION, a
Florida corporation
By:
Name: Daniel Arias
Title: President
(CORPORATE SEAL)
Address:
c/o Daniel Arias
2000 South Bayshore Drive
Villa 62
Miami, Florida 33133
The foregoing instrument was acknowledged before me this
day of 1994 by as
of THE BANK OF TOKYO, LTD., on behalf
of such entity. He is personally known to me or has produced a
Motor Vehicle Driver License as identification.
NOTARY PUBLIC
Typed or Printed Name of Notary
My commission expires:
Serial No., if any:
STATE OF FLORIDA )
COUNTY OF DADE )
The foregoing instrument was acknowledged before me this
day of , 1994 by CESAR H. ODIO as City Manager of THE
CITY OF MIAMI, a municipal corporation of the State of Florida, on
behalf of such entity. He is personally known to me or has
produced a Motor Vehicle Driver License as identification.
NOTART UBLIC
Typed or Printed Name of Notary
My commission expires:
Serial No., if any:
98-1181
193
-B-
STATE OF FLORIDA j
COUNTY OF DADE )
The foregoing instrument was acknowledged before me this
day of , 1994 by DANIEL ARIAS, as President of
CITADEL ARENA CORPORATION, a Florida corporation, on behalf of the
corporation. He is personally known to me or has produced a Motor
Vehicle Driver License as identification.
WESTPALM 32M.i - MET
NOTARY PUBLIC
Typed or Printed Name of Notary
My commission expires:
Serial No., if any:
v4- 193
98-11U
EXHIBIT "B"
The Work consists of construction of a 51,000 square foot, 3-
story building designed to have a food court on the ground floor,
a sports bar on the second floor and an entertainment arcade on the
third floor.
98-11S1
4- 193
WES'PAIM 39777.:- WLK
PROMISSORY NOTE
Schedule "A"
Amount: $2,500,000.00
Place: Miami, Florida
Date:
FOR VALUE RECEIVED, Citadel Arena Corporation, a Florida
Corporation (herein called the "Maker") with a mailing address at
2000 South Bayshore Drive, #62, Miami, Florida 33133, and Daniel
Arias and Miriam Arias, individually, (collectively called the
"Obligors"), with a mailing address at 2000 South Bayshore Drive,
#62, Miami, Florida 33131, the undersigned, promise(s) to pay to
the order of the City of Miami a Florida Municipal Corporation,
(herein called the "Lender"), acting by and through the Director
of the Department of Development and Housing Conservation, or his
or her successors, the sum of Two Million Five Hundred Thousand
Dollars ($2,500,000.00) with interest thereon computed on the
unpaid principal balance thereof from time to time outstanding
from the date hereof until the Maturity Date (as hereinafter
defined) at a variable interest rate during the first year and at
a fixed fair market rate per annum thereafter (hereinafter
referred to as "City Loan") in lawful money of the United States.
Such principal and interest shall be due and payable as follows:
1. Interest only or principal and interest payments
as set forth below shall be paid over a period not to exceed ten
(10) years, with principal and interest payments amortized over a
thirty (30) year period.
2. Interest only payments shall be due and payable
monthly in an amount equal to the pro rata amount of interest
04— 193
98-1181
owed on the.disbursement received by Maker, commencing the
day of the first month after the initial disbursement and every
month thereafter, up to and including the third anniversary of
the execution date of this Note.
3. Commencing on the fourth anniversary of the
execution date of this Note, principal and interest shall be due
and payable in equal monthly installments and on the same day of
each and every month thereafter. In each case the monthly
payments will be calculated based upon the then -remaining
principal balance and the number of months remaining until the
Maturity Date.
4. Notwithstanding anything contained herein to the
contrary, the balance of all accrued but unpaid interest and all
principal then remaining unpaid shall be due and payable in full
on the tenth anniversary of the execution date of this Note (the
"Maturity Date").
This Note is secured inter alia by (i) that certain Mortgage
and Security Agreement executed of even date herewith by Maker in
favor of Lender (the "Mortgage"); (ii) that certain Loan
Agreement executed of even date herewith by Maker and Lender (the
"Loan Agreement"); (iii) that certain Assignment of Leases and
Rents executed of even date herewith by Maker in favor of Lender,
(iv) that certain Guaranty Agreement executed of even date
herewith by Maker in favor of Lender as a personal guaranty, and
(v) that certain Pledge of Stock Agreement executed of even date
herewith by Maker in favor -of Lender.
-2-
194- 193
The undersigned reserve(s) the right to prepay at any time
all or any part of the principal amount of this Note without
payment of penalties or premiums. All payments on this Note
shall be applied first to the interest due on the Note, and then
to the principal due on the Note, and the remaining balance shall
be applied to late charges, if any. Except as provided below,
all monthly installment payments on this Note shall be credited
as of the due date thereof without adjustment of interest because
paid either before or after such due date.
In the event the Maker shall fail to pay the interest on or
principal amount of this Note when due, and if such failure be
existing on the date the next installment payment under this Note
becomes due and payable, or should there be a failure to
substantially comply with any of the material terms and covenants
contained herein or in any agreement securing this Note,
including but not limited to the Mortgage, beyond any applicable
cure periods, if any, the unpaid principal amount of this Note,
together with accrued interest and late charges, shall become due
and payable, then such shall constitute an event of default
hereunder ("Event of Default"), at the option of the Lender, with
notice to the Maker. Failure of the City of Miami to exercise
such option shall not constitute a waiver of such default. No
default shall exist by reason of nonpayment of any required
installment of principal and interest so long as the amount of
optional prepayments already made pursuant hereto equals or
exceeds the amount of the required installments. If the interest
on, and principal of, this Note are not paid during the first
-3- V4— 193
98-1181
fifteen (15} days of the calendar month which includes the due
date of such installments, the undersigned shall pay to the City
of Miami a late charge of five percent (5%) per calendar month,
or fraction thereof, on the amount past due and remaining unpaid.
If this Note be reduced to judgment, such judgment shall bear the
statutory interest rate on judgments.
Upon occurrence of an Event of Default, the Lender may
institute appropriate legal proceedings against the Obligors (for
purposes of this Note, Obligor shall mean each and every party to
this Note, whether as Maker, endorser, surety, guarantor or
otherwise) to obtain judgment on the Note and/or to exercise its
rights and remedies as a secured party under Florida's Uniform
Commercial Code or other applicable law. Upon the occurrence of
an Event of Default, the Lender shall have the right, at its
option, immediately and without further action by it, to set off
against the Note all monies owed by the Lender in any capacity to
any of the Obligors and also to set off against the Note, all
other liabilities of the Lender to the Maker and all monies owed
by the Lender in any capacity to the Maker. The Lender shall be
deemed to have exercised such right of setoff and to have made a
charge against any such monies immediately upon the occurrence of
such Event of Default even though such charge is made or entered
on the books of the Lender- subsequent thereto.
The Lender may at any -time in its sole discretion
compromise, settle or extend the time of payment of any of the
demands or obligations under this Note, and all of the parties
liable for the payment hereof hereby make, constitute and appoint
9S—_,
_4_ 24- 193
the Lender,. his or their true and lawful attorney for this
purpose with full power and authority to compromise, settle or
extend payment of said demands or obligations and to acquire,
satisfy or discharge the same of record, or otherwise, as the
parties liable for the payment or collection hereof might, or
could, do if personally present.
Each Obligor hereby waives demand, except as herein set
forth, presentment, protest, notice of protest, and notice of
dishonor. Each Obligor agrees, jointly and severally, to pay all
costs of collection, including attorneys fees. Each Obligor
agrees, jointly and severally, to pay all costs and fees,
including without limitation, Lender's attorneys fees and costs
at trial and all levels of appeal, in case any of the principal
and interest due on this Note shall not be paid or should there
be a failure to substantially comply with any of the terms
contained herein, or to enforce the terms of this Note, whether
suit be brought or not.
The Lender shall not by any act of omission or commission be
deemed to waive any of its rights or remedies hereunder unless
such waiver shall be in writing and signed by the Lender and then
only to the extent specifically set forth therein; a waiver in
one event shall not be construed as continuing or as a bar to or
waiver of such right or remedy on a subsequent event.
Notwithstanding anything contained herein to the contrary,
no payee or holder of this Note shall ever be entitled to
receive, collect, or apply as interest on the obligation any
amount in excess of the maximum lawful rate under applicable law,
�- 193
�� 1
and in the event the payee or any holder hereof ever receives,
collects, or applies as interest any such excess, such amount
which would be excessive interest shall be applied to the
reduction of the principal debt; and, if the principal debt is
paid in full, any remaining excess shall forthwith be returned to
the Maker. In determining whether or not the interest paid or
payable under any specific contingency exceeds the highest lawful
rate, the Obligors and Lender shall, to the maximum extent
permitted under applicable law (a) characterize any non -principal
payment as an expense, fee or premium rather than as interest,
(b) exclude voluntary prepayments and the effects thereof, and
(c) "spread" the total amount of interest throughout the maximum
term (being ten years) of the obligation so that the interest
rate is uniform throughout the entire term of the obligation.
This Note can only be changed or modified by written
agreement executed by each Obligor and Lender. Lender may grant
participation in all or any portion of, and may assign all or any
part of Lender's rights under, this Note. Lender may disclose to
any such participant or assignee any and all information held by
or known to Lender at any time with respect to Maker. All of the
terms of this Note shall inure to the benefit of Lender and its
successors and assigns and shall be binding upon each and every
one of Maker and its respective heirs, executors, administrators
and personal representatives, jointly and severally. Wherever
used, the singular number shall include the plural, and the use
of any gender shall include all genders, wherever the context so
admits.
4- 193
Maker hereby waives any plea or claim of lack of personal
jurisdiction or improper venue in any action, suit or proceeding
brought to enforce this Note or any of the obligations arising
hereunder. The Maker specifically authorizes any such action to
be instituted
and prosecuted
in any Circuit
Court in Florida
or
United States
District Court
of Florida,
at the election
of
Lender, where venue would lie and be proper.
THE MAKER, THE OBLIGOR AND THE LENDER HEREBY KNOWINGLY,
IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EITHER
THEY OR THEIR SUCCESSORS, PERSONAL REPRESENTATIVES OR ASSIGNS MAY
HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED
HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THE LOAN
AND ANY AGREEMENTS CONTEMPLATED HEREBY TO BE EXECUTED, IN
CONJUNCTION THEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF
DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF THE
PARTIES. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE LENDER
ENTERING INTO THE LOAN.
IN WITNESS WHEREOF, the undersigned have caused this
instrument to be executed the day and year first above written.
MAKER:
CITADEL ARENA CORPORATION
WITNESSES: a Florida Corporation
LKK/pb/M459
3/08/94 3:29 PM
By:
Daniel Arias, President
OBLIGOR:
By:
Daniel Arias, Individually
By:
Miriam Arias, Individually
98-1181
-'- 2 4- 193
LOAN AGREEMENT
This Loan Agreement entered into this day of
, 19_, by and between the City of Miami, a
municipal corporation of the State of Florida, hereinafter
referred to as "LENDER", and CITADEL ARENA CORPORATION, a Florida
Corporation with offices located at 2000 South Bayshore Drive,
No. 62, Miami, Florida 33133, hereinafter referred to as
"BORROWER".
NOW, THEREFORE in consideration of the mutual covenants and
obligations herein contained, and subject to the terms and
conditions hereinafter stated, the parties hereto understand and
agree as follows:
ARTICLE I
DEFINITIONS
As used in this Loan Agreement, the following terms shall
have the following meanings:
1.01 Assignment of Leases - means that certain Assignment
of Leases and Rents executed of even date by Borrower in favor of
Lender and assigning Borrower's rights with respect to the leases
encumbering the Property as security for the Loan together with
any amendments or modifications thereto.
1.02. City Commission - means the Mayor and the
Commissioners of the City of Miami.
1.03. City Manager - means the Chief Executive Officer of
the City or any duly authorized designee.
1.04. Completion Date - means the date the Improvements are
required to be completed as set forth in the particular Request
for Proceeds that is approved in writing by Lender.
0 S1
3 4- 193
1.05. Contractor(s) - means a Florida licensed contractor
reasonably acceptable to Lender.
1.06. Department - means the City's Department of
Development and Housing Conservation.
1.07. Effective Gross Income - means all rental income and
other revenue actually received by Borrower in connection with
the Property, including without limitation, all past due amounts
and late fees.
1.08. Governmental Authorities - means all governmental
authorities having jurisdiction over the Property.
1.09. HUD - means the United States Department of Housing
and Urban Development and/or any duly authorized, federal
employee.
1.10. Improvement Costs - means the actual costs of
constructing the Improvements not to exceed Two Million Five
Hundred Thousand Dollars ($2.5 million).
1.11. Improvements - means all major repairs, replacements,
renovations and improvements to the Property for which Borrower
has delivered to Lender a Request for Proceeds and which
improvements are to be completed in strict compliance with the
applicable Plans and Specifications.
1.12. Inspector - means the inspector selected by Lender in
its sole discretion to inspect the condition and progress of any
Improvements at --such intervals as Lender deems appropriate, the
fees and costs of which shall be paid for by Borrower.
1.13. Loan - means the indebtedness of Borrower to Lender
as evidenced by the Promissory Note.
�4- 193
-2-
98-1181
1.14. Mortgage - means that certain Mortgage executed of
even date herewith by Borrower in favor of Lender encumbering the
Property and certain other assets of Borrower as security for the
Loan and any restatements, amendments or modifications thereto.
1.15. Obligations - means the obligations of Borrower
hereunder, and under the Note, Mortgage, Assignment of Leases and
Rents, Guaranty Agreement and Pledge of Stock Agreement and any
other instrument now or hereafter executed by Borrower in
connection herewith, and any modifications, renewals,
replacements, or substitutions thereof made from time to time
thereafter.
1.16. Plans and Specifications - means those certain plans
and specifications for construction of each of the Improvements
to be prepared by an architect acceptable to Lender.
1.17. Project - means the construction of a
Restaurant/Sports Bar Complex.
1.18. Property - means the real property owned by Borrower
and legally described on Exhibit "A" hereto, and the fixtures,
equipment, appliances and other personalty located thereon.
1.19. Promissory Note - means that certain Promissory Note
executed of even date herewith by Borrower in favor of Lender in
the face amount of Two Million Five Hundred Thousand Dollars
($2,500,000.00) and any renewals and replacements thereof.
1.20. Request for Proceeds - means each request prepared by
Borrower and delivered to Lender for approval, which request
shall include the nature -of the particular Improvements to be
completed, the estimated date of commencement and completion, the
-3- 0 $ - 11W
budgeted total cost for the Improvements along with a line item
breakdown of the cost and the timing and amount of each draw.
1.21. Title Company - means the title company providing
Lender the guaranty of title to the Property.
1.22. Total Project Cost - means the amount to be used for
the construction and soft costs of the Project totalling Three
Million Eight Hundred Thousand Dollars ($3.8 Million).
ARTICLE II
SUPERVISION
2.01. Except as provided herein, the Department shall act
on behalf of the City in the fiscal control, and non -material
modification(s) of this Agreement.
2.02. The City Commission shall approve or disapprove the
following actions or conduct by passage of the appropriate
enabling legislation:
a) Any amendments, extensions or modifications of this
Agreement.
b) Any assignment, sale or transfer proposal in connection
with this Agreement, without limitation, the bulk sale,
merger or acquisition of Borrower by another business
entity, or the sale, or the negotiation, transfer,
sale, hypothecation or any other manner of encumbrance.
c) Any proposed modification in the Project budget.
ARTICLE III
TERN
3.01. The term of this Agreement shall commence on the date
Borrower receives its Advance equal to twenty-five percent (25%)
of the Loan (hereinafter the "Commencement Date") and shall
terminate ten (10) years thereafter.
-4- �4- 93
98- '181
ARTICLE IV
PROJECT DESCRIPTION
4.01. The Project shall consist of restoration of a
historic Mediterranean/Gothic building and construction of an
adjoining three story building with combined space of 46,277
square feet. The Project will accommodate: (a) 7-8 fast-food
type restaurants and 10,000 square feet of common space to serve
the diners, (b) a Restaurant/Sports Bar type facility, (c) an
entertainment center and/or (d) other related uses.
4.02. All contractors, subcontractors, architects,
engineers and landscape architects which are engaged by the
Borrower shall be duly licensed, and registered as required by
the laws of the State of Florida and, additionally, possess any
applicable Dade County Certificate of Competency and City of
Miami Occupational Licenses.
4.03. Assurance of Governmental Approvals; Permits,
Licenses. Borrower warrants that it has obtained, or has
reasonable assurance that it will obtain, all federal, state and
local governmental approvals and reviews required by law to be
obtained by the Borrower for the Project.
ARTICLE V
THE LOAN
5.01. The Loan to Borrower shall be in a principal amount
not to exceed Two Million Five Hundred Thousand Dollars
($2,500,000.00)=; with the proceeds of the Loan to be used
according to the terms and conditions set forth herein. All Loan
disbursements shall be made by the Lender to an account
designated by Borrower in writing to the Lender at 300 Biscayne
Boulevard Way, Suite 400, Miami, Dade County, Florida.9 8 _1 1 S 1
-5- 9 4 - 193
5.02. .The interest rate payable by Borrower on the Loan
shall be per annum, simple interest on the actual amount
disbursed.
5.03. Borrower hereby agrees to pay to Lender the principal
and interest of the Loan, in the amount set forth below, in
addition to payments for local surtax, documentary stamps,
intangible taxes, recording fees, and any said other
miscellaneous costs generated in relation to the Loan, including
the purchase of various required insurance policies, said
miscellaneous costs not to exceed $
5.04. Interest shall be due and payable on the amount
disbursed, commencing on the Commencement Date and monthly
thereafter until the end of the Term of the Loan. Principal
payments based upon a thirty (30) year amortization shall be due
and payable commencing on the fourth anniversary of the
Commencement Date and monthly thereafter until the end of the
Term of the Loan, at which time a balloon payment sufficient to
pay off the entire outstanding indebtedness of principal and any
interest outstanding shall be made by Borrower to Lender.
5.05. The entire outstanding principal balance of the Loan,
and all accrued unpaid interest thereon, shall become immediately
due and payable either upon the bankruptcy, reorganization,
dissolution, or liquidation of the Borrower, or upon the sale,
partial sale, _ refinancing, exchange, transfer, sale under
foreclosure, or other disposition of the Property or of the
Improvements situated thereon or any other Event of Default as
set forth in Article X herein.
-6- `'�� -19�38
5.06. The Loan may be prepaid at any time without penalty.
5.07. All payments due the Lender under this Agreement are
payable to: City of Miami, c/o Finance Director,300 Biscayne
Boulevard Way, Miami, Florida 33131 (or to such other address as
the Lender may, in writing, designate). All payments must be
made on weekdays during regular business hours and must be within
the times required by the Lender.
5.08. Davis -Bacon prevailing wage rates must be applied to
the proceeds of the Loan that are allocated to construction of
the Project. Borrower shall use the application and certificate -
for -payment forms AIA G702 and G703 and shall abide by the
Federal Labor Standards provisions of HUD Form 4010 of
Exhibit ".
5.09. Loan disbursements shall be made monthly, based upon
vouchers submitted by the Borrower, verified by the Lender, and
certified by the architect or quantity surveyor ana otner
certifying official who shall otherwise be a corporate officer of
Borrower as shall be acceptable to the City. All submissions by
contractors of monthly requisitions shall be on AIA forms 6702
and 6703 or their equivalent. Exhibit ".
5.10 The term of the Lender Loan shall be for ten (10)
years, from date of execution of this Agreement.
- ARTICLE VI
SPECIAL PROJECT ACCOUNT
6.01. Establishment of Special Project Account. Lender
shall establish a Special Project Account with the Lender's
Finance Department for the depositing and disbursement of the
��>> I
Section 108 Loan proceeds. 9 O- 1 I
_7_ 604- 193
6.02. Loan Repayment Deposits to Special Project Account.
Commencing with the first interest payment from Borrower and
continuing each and every month thereafter until the Loan is
fully repaid, Borrower shall make monthly deposits into the
Special Project Account.
ARTICLE VII
DISBURSEMENTS
7.01. Advance and Retainage.
(a) Advance - After the execution of this Agreement,
upon receipt of funds from HUD, Lender shall provide to Borrower
twenty-five per cent (25%) of the Loan (the "Advance") less the
interest owed.
(b) Retainage - Lender shall retain ten per cent (10%)
of the Loan until such time as Borrower has satisfied all the
conditions set forth in Section 7.03 herein (the "Retainage").
7.02. Conditions Precedent to each Disbursement. As
conditions precedent to the making of any disbursements from the
Special Project Account for Improvements, Borrower shall have
satisfied all of the following conditions, if applicable, in a
manner approved by Lender, said approval shall not be
unreasonably withheld.
(a) Lender shall have received, reviewed and approved
the Request for Proceeds, the Plans and Specifications (which, to
the extent required, shall have been approved by the applicable
Governmental Authorities) for the particular Improvements, the
particular Contractor and the contract entered into by Borrower
and the Contractor and, if required by Lender, all major
subcontract(s);
(b) Borrower shall have obtained a Building Permit and
all other permits required by all applicable Governmental
Authorities for construction of the Improvements and shall have
delivered copies thereof to Lender;
(c) A Notice of Commencement for the Improvements
shall have been executed and recorded after the Mortgage in the
Public Records, and a certified copy thereof posted on the
Property prior to the time that any construction shall have
occurred on the Property;
(d) Construction of the particular Improvements
complies with the applicable Plans and Specifications and with
all applicable laws, rules, restrictions, orders and regulations
of the Governmental Authorities as reasonably determined by the
Inspector;
(e) No Event of Default shall exist and no condition
shall exist which, with the passage of time or the giving of
notice, or both, would constitute an Event of Default;
(f) Borrower shall have used all previous Special
Project Account disbursements in substantial compliance with this
Loan Agreement;
(g) Borrower shall have paid all subcontractors,
materialmen, and suppliers for all work previously performed for
which Special Project Account amounts have previously been
disbursed;
(h) Borrower shall have submitted a written request
for disbursement from the Special Project Account in the form
attached hereto as Exhibit ", and Lender shall have approved QQ
94- 193
-9-
it for payment. Each request for payment shall be accompanied by
such waivers of lien, requisitions for payment from
subcontractors and materialmen, receipts and other documents as
may be reasonably required by Lender and set forth in Exhibit
(i) Borrower shall at all times comply with the
requirements of Florida's Mechanics Lien Law in order that all
payments made by Borrower in connection with the construction of
the Improvements can be characterized as "proper payments";
7.03. Conditions Precedent to Final Disbursement for
Improvements. As conditions precedent to the making of any
disbursement from the Special Project Account which constitutes
the final payment with respect to any Improvements, Borrower
shall have satisfied all of the following conditions, if
applicable, in a manner approved by Lender, said approval shall
not be reasonably withheld.
(a) Borrower shall have complied with all of the
conditions precedent to the making of any disbursement as set
forth in Section 7.02 of this Loan Agreement;
(b) Borrower shall have furnished Lender with a copy
of the Certificate of Occupancy issued by the applicable
Governmental Authorities;
(c) The Title Company shall have issued an endorsement
to the mortgagee title policy reflecting that no liens,
encumbrances, or matters, whether senior or inferior to the
Mortgage, have occurred with respect to the status of title and
containing such affirmative assurances as Lender shall reasonably
require. a
-10-
` 94- 193
7.04. -Waiver of Conditions Precedent. In the event Lender
should make any disbursements at a time when one or more of the
conditions precedent have not been satisfied, Lender shall
nevertheless be entitled to insist that all such requirements be
satisfied before any additional disbursement from the Special
Project Account is made, unless Lender has waived the same.
7.05. Amount and Manner of Disbursement.
(a) Each disbursement of the Loan shall be made, in
the whole or in part:
(i) by disbursing the amount thereof to the
Borrower, or
(ii) in such other manner as required by this
Agreement. Lender shall make no more than two (2) disbursements
in any calendar month.
(b) Borrower further agrees that:
(i) Lender is authorized to pay any lienors in
full or pro rata when applicable in accordance with Section
713.06(3)(c) and (d), Florida Statutes. If it becomes necessary
or proper to pay any person other than Borrower or the
contractor, and a notice to such contractor is required under
Chapter 713, Florida Statutes, Borrower shall promptly give such
notice to contractor upon the written request of Lender.
(ii) Borrower shall within a reasonable time
discharge or transfer to bond any claims of lien filed against
the Property. Borrower irrevocably designates Lender its
attorney in fact for the'sole purpose of recording a Notice of
Contest of Lien under Section 713.22, Florida Statutes. Lender
98-11si
-11- 94- 193
shall give Borrower ten (10) days written notice of its intention
to do so and the filing of such Contests shall be in Lender's
reasonable discretion. Notwithstanding the above, Borrower, at
Borrower's sole cost and expense, shall file and diligently
prosecute such Contests if required by Lender. Nothing herein
shall prevent Borrower from Filing a Notice of Contest.
(iii) Lender may, after ten (10) days notice to
Borrower without incurring any liability to Borrower or the
Contractor, withdraw funds from the Special Project Account and
deposit the funds with the appropriate clerk of the circuit court
under Section 713.24, Florida Statutes, in order to transfer
liens to such deposit, and any such deposit shall be charged
against Borrower's account in the same manner as any disbursement
to Borrower or for Borrower's account.
7.07. Deficiency. The Lender shall not be required to
disburse any portion of the Special Project Account if, in the
reasonable opinion of the Lender, the undisbursed Special Project
Account balance after making such disbursement is less (the
amount by which it is less being hereinafter called the
Deficiency) than the actual sum, as estimated by the Lender,
which will be required to complete construction of all of the
Improvements for which Borrower has submitted a Request for
Proceeds in accordance. with the particular Plans and
Specifications ;and to pay all Improvement costs and all other
costs and expenses of any nature whatsoever incurred in
connection therewith. The Borrower shall provide evidence to
Lender that funds are available in an amount equal to the
98-1181
-12- ®4- 193
Deficiency within ten (10) days after the Lender shall notify the
Borrower of the Deficiency, specifying in such notice the amount
thereof.
ARTICLE VIII
CONSTRUCTION OF THE IMPROVEMENTS
8.01. Manner of Construction. The Borrower shall cause the
Improvements to be constructed and equipped in substantial
compliance with the Plans and Specifications free and clear of
all liens, encumbrances and security instruments (other than the
Mortgage). The Plans and Specifications, and each addition or
modification, shall be approved in writing by the Lender, the
Inspector, the Contractor and the Governmental Authorities, if
applicable. The Plans and Specifications as approved by the
Lender shall become the property of the Lender. The Improvements
shall be constructed and equipped in compliance with requirements
of the Governmental Authorities in which the Property is
situated.
8.02. Completion of the Improvements. Notwithstanding
anything to the contrary contained in this Loan Agreement, the
Improvements shall be completed on or before the Completion Date
and shall not be deemed to have been completed until permanent
certificates of occupancy and all other necessary certificates,
licenses, consents and other approvals of Governmental
Authorities acting in and for the locality in which the Property
is situated have been issued or made with respect to the
Improvements.
95--1_1si
94- 193
-13-
8.03. Inspection Rights. Borrower shall during normal
business hours permit the Inspector and any other officers,
employees, agents and representatives of Lender and HUD to make
inspections of the Improvements and the Property and to examine
and make copies of the records and books of account of the
Borrower.
ARTICLE IX
REPORTING AND RECORD KEEPING
Section 9.01. Davis -Bacon Act. (a) Borrower shall comply
with the Davis -Bacon Act by submitting a monthly report to the
Lender during construction of the Project.
(b) Borrower shall use U.S. Department of Labor Forms
257 and 347, and City of Miami Forms A and B in submitting said
monthly reports in compliance with the Davis -Bacon Act, copies of
which are attached hereto as Exhibit ".
Section 9.02. All reports required by this Agreement (or
such other reports reasonably requested by the Lender) will be
furnished by the Borrower to the Lender, c/o Director, Department
of Development and Housing Conservation, 300 Biscayne Boulevard
Way, Suite 400, Miami, Florida 33131.
Section 9.03. Maintaining Records and Right to Inspect.
Borrower shall keep and maintain books, records and other
documents relating directly to the receipt and disbursement of
Loan funds; and any duly authorized representative of HUD, or the
Lender shall, at any reasonable time or during regular business
hours and after reasonable time have access to and the right to
inspect, copy, audit, and examine all such books, records and
other documents of Borrower at such place within Dade County,
98-1181 04 193
Florida as will be reasonably designated by the Lender or HUD
until the termination of this Agreement.
ARTICLE X
DEFAULT
10.01. Events of Default. Each of the following, if not
cured within any applicable grace period, if any, shall
constitute an Event of Default:
(a) A default by Borrower in the substantial
performance of any material covenant hereunder to be performed by
or on behalf of the Borrower;
(b) The occurrence of a default under the Promissory
Note, the Mortgage, the Assignment of Leases and Rents, the
Guaranty Agreement, or the Pledge of Stock Agreement;
(c) Any Improvements that are not completed in
accordance with the particular Plans and Specifications in the
reasonable judgment of the Lender, or the Inspector selected by
Lender, on or before the Completion Date;
(d) The Borrower executes any chattel mortgage or
other security agreement with respect to any materials, fixtures
or articles used in the construction of the Improvements or in
the operation of the Property, or purchases any such item
pursuant to a conditional sales agreement;
(f) Any warranties or representations of Borrower
contained herein or in any other instrument executed in
connection with the Loan shall at any time be untrue; or
(g) A default by Borrower with respect to any other
obligation of Borrower to Lender arising out of or in connection
with the Loan. ( S —
193
-15- �; d-
10.02.. Remedies. Upon the occurrence of an Event of
Default, Lender:
(a) Shall not have any obligation to make any further
disbursements pursuant to the terms hereof;
(b) May declare the indebtedness evidenced and secured
by the Promissory Note, this Loan Agreement, the Mortgage, and
the Assignment of Leases and Rents, immediately due and payable;
(c) May pursue any and all remedies provided for
hereunder and in the Promissory Note, the Mortgage and the
Assignment of Leases and Rents, including without limitation, the
remedies set forth in Section 10.03 below.
10.03. Other Remedies. Upon the occurrence of an Event of
Default, whether or not the indebtedness evidenced and secured by
the Promissory Note, the Mortgage and the Assignment of Leases
and Rents , the Guaranty Agreement, and the Pledge of Stock
Agreement, shall be due and payable or the Lender shall have
instituted any foreclosure or other action for the enforcement of
the Mortgage, the Assignment of Leases and Rents or the
Promissory Note, the Guaranty Agreement, and the Pledge of Stock
Agreement, the Lender may, in addition to any other remedies
which the Lender may have hereunder and in the Lender's sole and
absolute discretion:
(a) Enter upon the Property and complete the
Improvements in -accordance with the Plans and Specifications with
such changes therein as the Lender may deem appropriate all at
the risk, cost and expense of the Borrower;
004— 193
(b) Assume any construction contract made by the
Borrower and take over and use all or any part of the labor,
materials, supplies and equipment contracted by for the Borrower,
whether or not previously incorporated into the Improvements;
(c) Engage builders, contractors, architects,
engineers and others for the purpose of furnishing labor,
materials and equipment in connection with any construction of
the Improvements;
(d) Pay, settle or compromise all bills or claims
which have been or may be incurred in connection with the
construction of the Improvements;
(e) Take or refrain from taking any action that Lender
may from time to time determine appropriate in the exercise of
any right otherwise granted to it at law or in equity; and
(f) The Borrower shall be liable to the Lender for all
sums paid or incurred by the Lender to construct and equip the
Improvements whether the same shall be paid or incurred pursuant
to the provisions of this Section or otherwise, and all payments
made shall be paid by the Borrower to the Lender upon demand with
interest at the rate of interest per annum equal to the rate
described as the default rate in the Promissory Note from the
date of payment by the Lender to the date of payment by Borrower
to Lender. For the purposes of exercising the rights granted by
this Section, the Borrower hereby irrevocably constitutes and
appoints the Lender its true and lawful attorney -in -fact to
execute, acknowledge and .deliver any instruments and to do and
perform any acts in the name and on behalf of the Borrower.
-17- tea- 193
ARTICLE %I
ASSIGNMENT/DELEGATION
11.01. Permitted Assignment by the Lender. The Lender may
assign and/or grant participation interests in all or any portion
of Lender's interest in and to this Loan Agreement, the
Promissory Note, the Mortgage, the Assignment of Leases and Rents
and any other documents executed in connection with the Loan, to
any other person, firm or corporation.
11.02. No Assignment or Delegation by the Borrower. The
obligations undertaken by the Borrower pursuant to this Agreement
shall not be delegated or assigned to any other person or firm
unless the City Commission shall first consent in writing, by
passage of an enabling resolution, to said delegation or
assignment.
ARTICLE %II
INDEMNIFICATION
Section 12.01 Borrower shall pay on behalf of, indemnify
and save Lender, its officials and/or employees, jointly and
severally, harmless from and against any and all claims, demands,
suits, proceedings, actions, debts, liabilities, losses, and
causes of action which may arise out of Borrower's activities,
actions, undertakings and/or uses under this Agreement or the
Improvements or in connection therewith or arising from any
defective workmanship or -materials occurring in construction of
the Improvements including all other acts or omissions to act on
the part of Borrower, or any other agent or representative of the
Borrowers, including any person acting for or on its behalf; and
from and against all costs, attorneys' fees, expenses and
94- 193
liabilities. incurred by the City in the defense of any such
claims including appellate legal fees, or in the investigation
thereof. One hundred dollars ($100.00) of the 'Loan proceeds
constitute separate, distinct and independent consideration given
by the Lender to the Borrower for the granting of this indemnity.
The provisions of this Section shall survive the termination of
this Loan Agreement and the repayment of the Loan.
ARTICLE %III
INSURANCE REQUIREMENTS
Section 13.01. The Borrower shall provide to the Lender
prior to the execution hereof, a Commercial General Liability,
Comprehensive General Liability or equivalent on an Occurrence
Form with a minimum limit of One Million Dollars per occurrence
covering premises operations, bodily injury and property damage
which shall include the following endorsements:
a. contractual coverage;
b. the Lender named as additional insured;
C. Broad Form property endorsements;
d. products and completed operations;
e. independent contractors;
f. personal injury liability; and
Borrower shall obtain additional insurance coverage to
include:
a. Builder's Risk Policy maintained to full value.
b. Property Policy to include fire and extended
coverage.
C. Flood coverage including contents to full value.
-19- 94- 193
d. Loss of Income Coverage.
e. Proof of Worker's Compensation shall be provided
per statutory limits (Chapter 440, Florida Statutes).
Section 13.02. Compliance with Insurance Requirements. The
Borrower shall not violate or permit any occupant of the Project,
or any part thereof, to violate any of the conditions or
provisions of any such policy, and Borrower shall so perform and
satisfy the requirements of the companies writing such policies
so that at all times companies of A+ III Rating by the latest
edition of Best's Key Rating Guide standing shall be willing to
write and/or continue such insurance.
Section 13.03. Deposit of Certificates. Copies of
Certificates of Insurance evidencing the coverage to be
maintained by Borrower herein shall be delivered to the Lender's
Insurance Manager. In connection with all insurance policies
required to be maintained in accordance with the provisions of
this Article, Borrower shall, at least thirty (30) days prior to
the expiration of any such policy, deliver to the Lender's
Insurance Manager copies of renewal policies evidencing the
existence thereof, to the parties hereinabove provided.
ARTICLE %IV
PAYMENT AND PERFORMANCE BONDS
Section 14.01. Borrower agrees to require its Contractor to
provide payment and performance bonds in compliance with Section
255.05, Florida Statues, issued by Florida licensed surety
companies and subject to the Insurance Manager and City
Attorney's approval. Said Bonds shall remain in operative force
-20- . 4 - 193
98-1181
and effect throughout the entirety of the construction of the
Improvements.
ARTICLE %V
GENERAL MISCELLANEOUS
15.01. Costs, Expenses and Taxes. The Borrower shall be
responsible for payment of all costs and expenses in connection
with the preparation, recording and administration of this Loan
Agreement, including, without limitation, (a) administrative
costs of Lender in overseeing the construction of the
Improvements and otherwise administering the Loan, including but
not limited to, an independent inspector selected by Lender to
inspect the Improvements as provided in Section 5.03 hereof and
(b) the payment of any and all documentary stamp taxes,
intangible taxes and other taxes and fees payable, if any, in
connection with the execution, and recording of the Mortgage,
Assignment of Leases and Rents, Promissory Note or any other
document executed in connection with the Loan.
15.02. Parties Bound, etc. The provisions of this Loan
Agreement shall be binding upon and inure to the benefit of the
Borrower and the Lender and their respective heirs, personal
representatives, successors and assigns (except as otherwise
prohibited by this Loan Agreement).
15.03. Further Assurances. Borrower agrees, upon demand of
Lender to re -execute or correct any errors or omissions in those
instruments, executed by Borrower, provided said corrections are
reasonable and necessary to carry out the intent of this Loan
Agreement.
9'8-1_18I
94- 193
-21-
15.04.. Waivers. Except as may be otherwise provided,
Lender may at any time and from time to time waive any one or
more of the conditions contained herein, but any such waiver
shall be deemed to be made in pursuance hereof and not in
modification hereof, and any such waiver in any instance or under
any particular circumstance shall not be considered a waiver of
such condition in any other instance or any other circumstance.
15.05. Governing Law/Venue. This Agreement is and shall be
deemed to be a contract entered into pursuant to the laws of the
State of Florida and shall in all respects be governed,
construed, applied and enforced in accordance with the laws of
the State of Florida. Venue in any civil action arising out of
this Agreement shall be in courts of competent jurisdiction
situated in Dade County, Florida.
15.06. Severability. If any term, covenant or condition of
this Loan Agreement shall be held to be invalid, illegal or
unenforceable in any respect, this Loan Agreement shall be
construed without such term, covenant or condition.
15.07. Notices. All notices or other communications which
shall or may be given pursuant to this Agreement shall be in
writing and shall be delivered by personal service, or by
registered mail, at the address indicated herein or as the same
may be changed from time -to time. Such notice shall be deemed
given on the day on which personally served; or, if by mail, on
the fifth (5th) day after being posted or on the date of actual
receipt, whichever is earlier:
98-1181
-22- 94- 193
CITY OF MIAMI BORROWER
City Manager Citadel Arena Corporation
3500 Pan American Drive 2000 South Bayshore Drive, #62
Miami, Florida 33133 Miami, Florida 33133
WITH COPIES TO:
Director of Department of
Development and Housing Conservation
300 Biscayne Boulevard Way
Suite 400
Miami, Florida 33131
15.08. Amendments, etc. No amendment or waiver of any
provision of any Loan Document, nor consent to any departure by
the Borrower therefrom, shall in any event be effective unless
the same shall be in writing and signed by the Lender and then
such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given.
Section 15.09. Independent Contractor/Lender Not a Partner
of Borrower. (a) Borrower and its employees and other agents,
shall be deemed to be independent contractors, and not agents or
employees of Lender, and shall not attain any rights or benefits
under the Civil Service or Pension Ordinances of Lender or any
rights generally afforded classified or unclassified employees.
They also shall not be deemed entitled to the Florida Worker's
Compensation or Unemployment Benefits as employees of the Lender.
(b) Nothing contained in this Agreement, nor any act
of HUD, the Lender, the Borrower, or any of the parties, shall be
deemed or construed by any of the parties, or by any third
persons, to create any relationship of third -party beneficiary,
principal and agent, authorized representative, a limited or
general partnership relationship, or joint venture, or of any
4- 193
-23- . , e
association. or relationship involving HUD and/or Lender with
Borrower.
Section 15.10. Compliance with Federal, State and Local
Laws. Both parties shall comply with all applicable laws,
ordinances, and technical codes of federal, state and local
governments.
Section 15.11. Award of Agreement. Borrower warrants that
it has not employed or retained any person employed by the Lender
to solicit or secure this Agreement and that it has not offered
to pay, paid, or agreed to pay any person employed by the Lender
any fee, commission percentage, brokerage fee, or gift for the
award of this Agreement.
Section 15.12. Recapture of Funds. Lender shall reserve
the right to recapture funds when the Borrower shall fail: (i)
to comply with the terms of this Agreement, its exhibits, and
relevant laws referred to therein, or (ii) to accept conditions
imposed by Lender at the direction of federal, state and local
agencies. This Section is provided for without prejudice to the
Lender's other rights and remedies, which it expressly reserves
and retains.
Section 15.13. Nondiscrimination. Borrower agrees that it
shall not discriminate as to race, sex, color, age, creed,
national origin or handicap in connection with its performance
under this Agreement.
Section 15.14. Entire Agreement. This Agreement and its
exhibits (whether attached or deemed as being incorporated by
reference) contain the entire agreement between the parties and
-24- 98-1181
94- 193
shall not be modified in any manner except by an appropriate
instrument in writing. This Agreement, upon becoming effective,
shall supersede and annul any and all agreements heretofore made,
issued or contemplated for the Project between the Lender and the
Borrower which shall hereafter be void and of no effect.
15.15. Waiver of Jury Trial. THE LENDER AND THE BORROWER
HEREBY KNOWINGLY, IRREVOCABLY, VOLUNTARILY AND INTENTIONALLY
WAIVE THE RIGHT EITHER THEY OR THEIR SUCCESSORS, PERSONAL
REPRESENTATIVES OR ASSIGNS MAY HAVE TO A TRIAL BY JURY IN RESPECT
OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN
CONNECTION WITH THE LOAN AND ANY AGREEMENTS CONTEMPLATED HEREBY
TO BE EXECUTED, IN CONJUNCTION THEREWITH, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR
WRITTEN) OR ACTIONS OF THE PARTIES. THIS PROVISION IS A MATERIAL
INDUCEMENT FOR THE LENDER ENTERING INTO THE LOAN.
IN WITNESS WHEREOF, the Lender and the Borrower have duly
executed this Loan Agreement the date first above written.
LENDER:
CITY OF MIAMI, a municipal
Corporation of the State of
ATTEST: Florida
By
MATTY HIRAI CESAR H. ODIO
City Clerk City Manager
-25- ® 4 - 193
BORROWER:
CITADEL ARENA CORPORATION, a
Florida corporation, the
WITNESSES: general partner
APPROVED AS TO INSURANCE
REQUIREMENTS:
Risk Management
LKK/pb/461
Attachments
Rev. 3/09/94
1:16 PM
By
Daniel Arias (Title)
President (Seal)
APPROVED AS TO FORM AND
CORRECTNESS:
A. QUINN JONES, III
City Attorney
98-1181
-26- 9 a - 193
EXHIBIT "A"
94- 193
-27-
EXHIBIT "B"
LOAN ADVANCE REQUISITION
Loan No.:
Date:
Borrower:
Property:
Requisition No.
Amount Requested: $
7► QL+T T%A TrTT
STATE OF FLORIDA)
)SS:
COUNTY OF DADE )
THE UNDERSIGNED AFFIANT CERTIFIES:
1. THAT affiant is authorized to requisition loan advances
under the Loan Agreement executed in connection with
this loan.
2. THAT the disbursement requested is for the item(s)
listed on Exhibit "A" attached hereto each of which
constitutes a proper payment under the terms of the
Loan Agreement.
3. THIS AFFIDAVIT is made for the purpose of inducing the
City of Miami ("Lender") to advance and disburse funds
as heretofore agreed upon by Borrower and Lender's
mortgage lien in the aggregate amount of all
disbursements. -
4. No notices or claims of lien have been received except:
-28-
4- 193
5. No NOTICE TO OWNER has been received except:
FURTHER AFFIANT SAITH NOT.
Sworn to and subscribed before me this day of
il 1994. is personally
known to me (YES) (NO) or has produced
as identification and did take an oath.
Notary Public, State of Florida
at Large
(Print Name of Notary)
My Commission Expires:
LKK/pb/M461
Rev. 3/08/94 2:50 PM
J-94-122
2/7/94
RESOLUTION NO. 9 4 — 104
A RESOLUTION AUTHORIZ.IIJG THE CTTY
MANAGER TO RESTRUCTURE THE LONG TERM
DEBT OBLIGATIONS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT DISTRICT ('CIS-1=7-k
FURTHER AUTHORMING TEE CITY MANAGER TO .
DRAW DOWN FUNDS FROM TIE CrM UNTIED
STATES DEPARTAE.NT OF HOUSENG AND URBAN
DEVELOPi1+ W""US HUD") SECTION 108 LOAN, IN
AN AMOUNT NOT TO EXCEED $5 MII.,J.iON, SAID
FUNDS TO BE USED ALONG WITH FUNDS
AV R ABf F IN THE DLSIRIC M TRUST FUND TO
MAKE A TENDER OFFER TO 1990 TAX INCREMENT
REVENUE BOND HOLDERS FOR THE PURPOSE OF
RE )UCING ANNUAL DEBT SERVICE; FURTHER
AUTHORiZ.ING THE ENGAGEMENT OF AN
DrvMSTMENT BROKER TO ASSIST THE CITY
HEPEN ABOVE TRANSACTIONS.
the City of Nfumi issued $11.5 mfflion Camumoby
Rmk vk prneat Bonds ("Bastck') for the piapow of uadertdit new dovdaMem in the
Sow Ovalown Pads West Rodavdopmog Disprict ("Diurnal"); and -
WHEREAS, the DWd a s tax It1C. runt rev=ws and Mani Sports Areas
Rent werc *4pd to support the repayment of the mpg Bonds; and
6WHEREA& a: B*mifict dwJinc in real cotat msessiams in Downtmm
M= and pa46a ai areas nm*cd m sWxtantW ions of tax ttimenucs for the DuarA and
WHEREAS, Dade Couaty s acq 3i� of the Courdwusc Center proapaty
("PropertY"), th a sb*k iar8M Privately -owned property is ft District, has =npersted the
DisaicYs finances; and
CITY CON=SSIOR
ImTmG OP
FES 17 M944
;i..ohmon Na
19 — n: S 1
it
WMEAS, the net p mwW value of the tax auraat mvemas firm the
Property, at fifty perceot (50%) 0"-Wancy for the reaming term of the Bonds, was
eaftoted to be $4.0 mi7h'on; and
WOMEAS, Dade County offered the Yet $2.0 million for the loan of
tat iamnmt mvremea from the PrapaW, and
WHER>:A.S, the United States Depa meet of Housing and Uitan
Devdopmeat approved an S8.0 me'lhou Section 108 Loan ("HUD Loan*) for the Dbtrict,
prow to fhe bsuaoce of Bands; and
WFIEREA.S, the interest raft for fire HUD Lam is lower than the ptcvaMM
coupon for fife og Bands; and
WHEREAS, sines the Banda are not refundable no& 2001, the City way
opt to make a offer to the bondhooldem; and
WHEREAS, the ptraposed sh-Aca to raieemt Bonds by using the HUD
LAan prococds a eagected to reduce the annual debt crevice sigaificat dy;
NOW, IlERFTORE, BE Tr RESOLVED BY THE COUNGSSION OF
THE MY OfMW
jk&L FLORIDA:
SEC MN 1. The recitals and f ► contained in the Prc.am*k to this
R ohition are hereby by reference t urdo and mksftd as if fatty at forth in
dig Section.
94- 104
98- 118i
i . VT/ V,J
SECTION 2. The City ManVeris hereby autiwdmd to restnmture the long
term debt obi of the Southeast Overkmn/Put West Cx mtnunity Radevcknm ad
(")L
SECTION 3. The City Muugw is hereby aud� to draw dawn fiords
from the City% US HUD Secdt 109 Loan, iat an amount not to c=ecdd S5.0 mffwn, said
funds to be used aim* with fiords available m the Daftid Tma Find to make a tender
offer to d w $ for the purpose of roducog ammW debt sa%ice.
SECTION 4. The City MtmW is buvby out Adud to end an
Inver# Broker to assist the City hercm above ntaosaations.
SEC MN S. This ResaMon steal bWAMM effective itrnaodiafely opat ifs
PASSED AND ADOPTED tbk 17th day of February , 1994.
ATTEST:
i
MATTY HM A1, CITY CLERK
AMw --
P$EPARED AND APPROVED BY:
LngE- - -- N
ASSISTANT CITY ATTORNEY
MGM
APPROVED AS TO FORM AND
CORRECTNESS:
6.
W.
94— 104
98-lisi
J-89-976
10/24/89
RESOLUTION NO. 99-1040
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO PREPARE AND SUBMIT AN APPLICATION TO THE
UNITED STATES DEPARTMENT OF HOUSING & URBAN
DEVELOPMENT (HUD) FOR A $8 MILLION LOAN
UNDER HUD SECTION 108 LOAN PROGRAM FOR THE
PURCHASE OF LAND FOR REDEVELOPMENT WITHIN
THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY
REDEVELOPMENT AREA.
WHEREAS, the Miami City Commission approved in principle
the Southeast Overtown/Park West Community Redevelopment Plan
(Resolution No. 82-755); and
WHEREAS, the Federal government has established the HUD
Section 108 Loan Program to provide financial assistance to
governmental entities to assist in the acquisition of land for
redevelopment; and
WHEREAS, it is beneficial to the Southeast Overtown/Park
West Community Redevelopment Project to submit applications for
funding under HUD Section 108 Loan Program;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
prepare and submit an application to the U.S. Department of
Housing and Urban Development for a loan under the HUD Section
108 Loan Program in an amount not to exceed $8 million for the
purchase of land for redevelopment within the Southeast
Overtown/Park West Community Redevelopment Area.
Section 2. Repayment of the HUD Section 108 Loan is
anticipated to be made from the receipt of Tax Increment Revenue
Bond monies. Future entitlement grants under the Community Block
Grant will be pledged as security for the repayment of said Loan
with repayment to be made in annual installments.
Section 3. This Resolution shall become effective
immediately upon its adoption. CITY COMMISSION
MEETING OF
NOV '40 1989 RCSOLUTION No.R9-1040
REMARKS
98-1181
PASSED AND ADOPTED this 30th day of November 1989.
XXVIER L. rZ, MA R
ATTEST: COMMUNITY DEVELOPMENT
REVIEW AND AP OVAL:
MATTY HIRAI, CITY CLERK FRANK CASTANEDA, DIRECTOR
DEPT. OF COMMUNITY DEVELOPMENT
PREPARED AND APPROVED BY:
LINDA KELLY KEXRSON
ASSISTANT CITY ATTORNEY
APPROVED AS TO FORM AND CORRECTNESS:
JO GE L ANDEZ
CI ATTORNEY
J
P9-1040
98--1181
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
The Honorable Mayor and Members
NOW 3 � i :,
TO :
of the City Commission
DATE : FILE:
SUBJECT: CDBG Public Hearing to
Allocate Funds for Section 108
Loans from the CDBG Line of
FROM : onald H. Warshaw
REFERENCES: Credit
City Manager
City Commission Meeting of
ENCLOSURES: December 8, 1998
RECOMMENDATION:
It is respectfully requested that the City Commission adopt the attached Resolution, allocating
$1,137,020 from the Community Development Block Grant (CDBG) Line of Credit, to pay the debt
service due on the City's Section 108 Loans for the Wynwood Foreign Trade Zone Complex
(Project No. 695002--$366,269), the Citadel Restaurant and Office Building (Project No.
695001--$330,331), and the Southeast Overtown Park West Community Redevelopment District
(Project No. 210000--$440,420).
I: • K,C" i ll�
The Department of Community Development has scheduled a Public Hearing, to discuss the
allocation of $1,137,020 from the Community Development Block Grant (CDBG) Line of Credit to
make payments for the debt service of the above listed Section 108 Loans received from the U.S.
Department of Housing and Urban Development (HUD). This allocation will maintain these
Section 108 Loans current through September 30, 1999.
The loans for the Citadel Restaurant and Office Building ($2.5 million) and the Wynwood Foreign
Trade Zone ($5.5 million) are currently in default, and the City has initiated collection proceedings
against the developers of these projects which may result in foreclosure actions. Payments for the
City -sponsored Southeast Overtown/Park West Community Redevelopment District ($5.1 million)
remain on schedule, as a result of a CDBG allocation approved by the City Commission during the
24' Year CDBG Public Hearing.
In accordance with Federal regulations governing the award of Section 108 Loans, the City is
required to pledge its CDBG allocation as a guarantee for the repayment of any Section 108 Loan
defaulted by the projeci developer. The City's pledge of its CDBG allocations applies to the three
(3) above -listed Section 108 Loans.
98-1181
The Honorable Mayor and Members
of the City Commission
Page 2
It is recommended that the City Commission adopt the attached resolution, allocating $1,137,020
from the CDBG Line of Credit to meet the debt service payment of the City's Section 108 Loans.
The proposed legislation authorizes the City Manager to allocate the aforementioned funds as
follows:
Wynwood Foreign Trade Zone Complex
Dade Foreign Trade Zone, Inc., the project developer for the Wynwood Foreign Trade Zone
Complex, has defaulted on its $5.5 million Section 108 Loan to assist in the development of the
Wynwood Foreign Trade Zone Complex. The City Attorney has initiated collection
proceedings against the project developer which may result in foreclosure actions.
Resolution No. 95-585, adopted by the City Commission July 13, 1995, authorized the City
Manager to prepare and submit an application on behalf of Dade Foreign Trade Zone, Inc. to
HUD for a $5.5 million Section 108 Loan Guarantee. The purpose of this loan was to assist in
financing the development of the Wynwood Foreign Trade Zone Complex located in the
Wynwood target area.
HUD approved this Section 108 Loan application in September 1995 and the City Commission
adopted Resolution No. 95-859 December 7, 1995, which authorized the City Manager to
execute the Funding Agreement with HUD for this Section 108 Loan. At the same City
Commission meeting, the Commission adopted Resolution 95-860 which further authorized the
City Manager to enter into a Loan Agreement with Dade Foreign Trade Zone, Inc., as the
developer of the Wynwood Foreign Trade Zone Complex, to utilize the $5.5 million Section
108 Loan from HUD.
The City Commission ratified the Funding Agreement with HUD for this Section 108 Loan with
the adoption of Resolution No. 98-542, at its May 26, 1998, meeting. The City Manager and the
City Attorney were further directed to prepare and execute any and all documents, including the
notes necessary to effectuate the City's receipt from HUD, and the ultimate disbursement of the
$5.5 million Section 108 Loan to the Dade Foreign Trade Zone, Inc., for development of the
Wynwood Foreign Trade Zone Complex.
98 -UsI
The Honorable Mayor and Members
of the City Commission
Page 3
In order to maintain the Section 108 Loan for the Wynwood Foreign Trade Zone Complex
(Project No. 695002) current through September 30, 1999, it is recommended that $366,269 be
taken from the CDBG Line of Credit to cover payments due on this loan as follows:
$
15,292
- due July 26, 1998
$
80,977
- due October 26, 1998
$
90,000
- due January 26,1999
$
90,000
- due April 26, 1999
$
90,000
- due July 26, 1999
TOTAL $366,269
The Citadel Restaurant and Office Building
Resolution No. 92-812, adopted by the City Commission December 10, 1992, authorized the
City Manager to prepare and submit an application on behalf of The Citadel Arena Corporation
to HUD for a $2.5 million Section 108 Loan Guarantee. The purpose of this loan was to assist
in financing the construction of the Citadel Restaurant and Office Building located at N.W. 5'
Street and N. W. 1 S` Avenue, in the Southeast Overtown Park West Redevelopment District.
Resolution No. 94-193, passed and adopted March 24, 1994, further authorized the City
Manager to enter into a Loan Agreement, Mortgage/Security Agreement and Promissory Note
with the Citadel Arena Corporation, Inc., for a $2.5 million loan as the developer of the Citadel
Restaurant and Office Building, for the utilization of the Section 108 Loan. The same resolution
authorized the City Manager to execute an agreement with the Citadel Arena Corporation, Inc.,
and the Bank of Tokyo, Ltd. for the purpose of financing the project.
The Citadel Arena Corporation, Inc., the project developer for the Citadel Restaurant and Office
Building project, has defaulted on its $2.5 million Section 108 Loan and the City Attorney has
initiated collection proceedings against the project developer which may result in foreclosure
actions.
The City Commission has previously taken action to maintain this loan during the 1998-`99
Program Year. Resolution No 98-465, adopted by the City Commission at its May 12, 1998
meeting, authorizes CDBG funds to make payments toward the Citadel Restaurant and Office
Building loan. This legislation included a payment of $340,429 of CDBG funds toward this
loan, which has already been made, and another payment of $90,429 to cover the next payment
due January 24, 1999.
98-1181
The Honorable Mayor and Members
of the City Commission
Page 4
In order to maintain the Section 108 Loan for the Citadel Restaurant and Office Building
(Project No. 695001) current through September 30, 1999, it is recommended that $330,331 be
taken from the CDBG Line of Credit to cover the payment due on this loan as follows:
$ 330,331 - due July 24, 1999
TOTAL $330,331
Southeast Overtown Park West Community Redevelopment District Project
The City Commission adopted Resolution No. 89-1040, November 30, 1989, authorizing the
City Manager to prepare and submit an application to HUD on behalf of the City of Miami, to
secure an $8.0 million Section 108 Loan Guarantee for the purchase of land for redevelopment
within the Southeast Overtown/Park West Community Redevelopment District Project.
Resolution No. 94-104, adopted by the City Commission February 17, 1994, authorized the
City Manager to restructure the long-term obligation of the Southeast Overtown/Park West
Community Redevelopment District. This legislation further authorized the draw down of funds
from the $8.0 million Section 108 Loan obtained from HUD for the Redevelopment District,
from which $5.1 million has been utilized.
The 240' Year CDBG Action Plan included an allocation of $440,428, authorized by the
adoption of Resolution No. 98-402.1, to cover payments due this year for the Southeast
Overtown/Park West Community Redevelopment District Project (Project No. 210000).
In order to maintain the debt service of this loan current through September 30, 1999, it is
recommended that $440,420 be taken from the CDBG Program Line of Credit to cover
payments due as follows:
$220,210
$220,210
TOTAL $440,420
- due January24, 1999
- due July 24, 1999
The allocation of $3,137,000 from CDBG Line of Credit as indicated above, will address the
debt service of the three (3) aforementioned Section 108 loans and will satisfy the federal
requirement that the loan guaranty is provided through the City's CDBG allocation.
Hi
DHW/D /GCW/DF/JC:vh
<shared-memosvh>mayorcc70
58-1181
Request for Public Comments on the
Proposed Amendment to the
Fiscal Year 1998 Action Plan
Federal regulations governing the Community Development Block Grant (CDBG) Program require that a participati
jurisdiction provide citizens with reasonable notice, and the opportunity to comment on any substantial amendment
the City of Miami's 1998 - 1999 Action Plan.
The City of Miami is proposing to re -program available community Development Block Grant (CDBG) funds
Emergency Shelter Grant (ESG) funds to eligible projects in low- and moderate -income target areas:
AMENDMENT TO THE FY 1998 -1999 ACTION PLAN.
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM:
Source of Re -Profit wnmed Funds
CDBG Program Line of Credit
- $1,137,020
Basic Training Academy Building Rehabilitation
- S 200,000
Empowerment Zone Support Activities
- $ 88,%0
Total
- $1 25
Recommended Re -Programming
Wynwood Foreign Trade Zone Complex
Section 108 Loan Debt Service
- S 366,269
The Citadel Restaurant and Office Building
Section 108 Loan Debt Service
- $ 330,331
Southeast Overtown/Park West Redevelopment District
Section 108 Loan Debt Service
- S 440,420
Basic Training Academy Facility Acquisition and Rehab.
- $ 288,960
Total
- $1425
EMERGENCY SHELTER GRANT (ESG) PROGRAM:
Source of Re -Programmed Funds
Christian Community Services Agency, Inc. - $ 80,000
Total - S 801000
Recommended Re -Programming
City of Miami Homeless Project - $ 80,000
Total - $ 801000
Accordingly, the City of Miami invites the public to comment on the re -programming of CDBG funds by writing to:
City of Miami
Department of Community Development
444 S.W. 2nd Avenue, Suite 200
Miami, FL 33130
Comments may be submitted during regular office hours from 8:00 a.m to 5:00 p.m., Monday through Friday. C
residents have 30 days to submit comments on the amendment, before its implementation. This amendment will
considered at a Public Hearing to be held any time after 10:00 a.m., on December 8, 1998, during the regula
scheduled City Commission meeting to be held at 3500 Pan American Drive, Miami Florida.
The City of Miami provides equal access and equal opportunity in employment and services, and does not
on the basis of handicap.
A person who decides to appeal any decision by any board, agency or commission, with respect to any matte
considered at the meeting or hearing will need a record of the proceedings. Such a person may need to ensure that ,
verbatim record of the proceedings is made, including the testimony and evidence upon which the appeal is to be based.
98--1181
!riding Approval/Agreement
tie I of the Housing and Comn,,,, City
;vek'opment Act (Public Law 93-383)
)0515R of 20515R
lame of Grantee (as sl
TY OF MIAMI, FLORIDA
irantee's Complete Address (as shown in Item 5 of Standard
U.S. Department of f 19
and Urban Developme,.
Office of Community Planning
and Development
Community Development Block Grant Program
,'s 9-Digit Tax ID Number 4. Data Use of Funds I
59 6000375
/ Grant Number 1 6a. Amount Approved
B-95—MC-12-0013—A
: / Grant Number 2 6b. Amount Approved
00 PAM AMERICAN DRIVE I5c. Project / Grant Number 3 16c. Amount Approved
AMI, FL 33133
ant Agreement
s Grant Agreement between the Department of Housing and Urban Development (HUD) and the above named Grantee is made
suant to the authority of Title I of the Housing and Community Development Act of 1974, as amended, (42 U.S.C. 5301 et seq).
s Grantee's submissions for Title I assistance, the HUD regulations at 24 CFR Part 570 (as now in effect and as may be amended
'n time to time), and this Funding Approval, including any special conditions, constitute part of the Agreement. Subject to the
visions of this Grant Agreement, HUD will make the funding assistance specified here available to the Grantee upon execution of
Agreement by the parties. The funding assistance specified in the Funding Approval may be used to pay costs incurred on or
:r the date specified in 4 above provided the activities to which such costs are related are carried out in compliance with all
Acable requirements. Pre -agreement costs may not be paid with funding assistance specified here unless they are authorized in
D regulations or approved by waiver and listed in the special conditions to the Funding Approval. The Grantee agrees to assume
of the responsibilities for environmental review, decision making, and actions, as specified and required in regulations issued by
Secretary pursuant to Section 104(g) of Title I and published in 24 CFR Part 58. The Grantee further acknowledges its
ponsibility for adherence to the Agreement by subrecipient entities to which it makes funding assistance hereunder available.
(signature, name, title, date) I Grantee (signature, name, title, date)
l,necK unly une: uategory of I Itle 1 Assistance tol
Funding Action
3. Entitlement, Sec1061b)
�. State -Administered, Sec 106(d)(1)
HUD -Administered Small Cities, Sec 106(d)(2)(8)
J. Indian CDBG Programs, Sec 106 (a)(1)
3. Surplus Urban Renewal Funds, Sec 112(b)
Special Purpose Grants, Sec 107
�. Loan Guarantee, Sec 108
CITY OF MIAMI. FLO
Special 9a. Date HUD Received Submissic
Conditions
(check one)
9b. Date Grantee Notified:
None
9c. Date of Start of Program Year:
Attached X
11. Amount of
Community
Development
Block Grant
a. Funds Reserved For
This Grantee
X b. Funds Now Being
;;:; Approved
Reservation To Be
(celled (11a minus 11
5,500,000
an Guarantee Acceptance Provisions for
signated Agencies
i public agency hereby accepts the Grant Agreement executed by the
)artment of Housing and Urban Development on the above date with respect to
above grant number(s) as Grantee designated to receive loan guarantee
istance, and agrees to comply with the terms and conditions of the Agreement,
Aicable regulations, and other requirements of HUD now or hereafter in affect,
twining to the assistance provided it.
a. Orig.Funding Approval
b. Amendment X
c. Amendment Number
FY 95 FY FY
12b. Name and Complete Address of Public Agency
12c. Signature of Authorized Official (name, title, date) for
Designated Public Agency
X
IWI I
0 0 Rea Document No.
J*
t Number Cateoory
JM 013 A
Pro' ct Number
Y
Project Number
Amount
Amount
Arnoun
Effective Date F
LI U
by:
L
i
trious Editions are Obsolete
9 8 -1181 foml HUD-708241CFR /93)
570
Al,
` CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM 13
Honorable Mayor and Members DATE �!ov 2 8 ►ov- FH_E
TO of the City Commission
SUBJECT Agreement with U.S. HUD for
Section 108 Loan Guarantee on
Wynwood Foreign Trade Zone
FROM
Ces REFERENCES: Project city
ENCLOSURES: City Commission Meeting of
December 14 1995
RECOMMENDATION
It is respectfully recommended that the City Commission approve the attached Resolution,
authorizing the City Manager to enter into an agreement with the U.S. Department of
Housing and Urban Development (HUD) for a Section 108 Loan Guarantee in the amount of
$5.5 million dollars, to help finance the development of the Wynwood Free Trade Zone, a
project of the Wynwood Community Economic Development Corporation and the Dade
Foreign Trade Zone, Inc..
BACKGROUND
NET has analyzed the need to enter into agreement with HUD, to accept the $5.5 million
dollars loan guarantee for the development of the Wynwood Free Trade Zone.
On July 31, 1995, the City, on behalf of Dade Foreign Trade Zone, Inc., which will be the
developers of the project, submitted the Section 108 application to HUD.
On September 29, 1995, the City was formally notified by HUD that the Section 108 loan
was approved.
98-118�3-/
95- 859
J-95-938 12/6/95 9 5- 860
RESOLUTION No.
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO ENTER INTO AN AGREEMENT WITH DADE
FOREIGN TRADE ZONE, INC. ("DFTZ"), IN A
FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR
THE DEVELOPMENT OF THE WYNWOOD FREE TRADE
ZONE COMPLEX UTILIZING A $5.5 MILLION
SECTION 108 LOAN GUARANTEE FROM THE
UNITED STATES DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT ("HUD").
WHEREAS, the City of Miami is committed to assisting the
Wynwood community in developing the Wynwood Free Trade Zone, a
project of the Wynwood Community Economic Development
Corporation; and
WHEREAS, the United States Department of Housing and Urban
Development ("HUD") has approved a $5.5 million Section 3.08 Loan
Guarantee for said project; and
WHEREAS the City must enter into an agreement with Dade
Foreign Trade Zone, Inc., the project's developer;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings- contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
98-118,
CITY coboIISSIOt
MEETING OF
DEC 0 7 1995
Resolution No.
95- 860
Section 2. The City Manager is hereby authorizedl' to
enter into an agreement with Dade Foreign Trade Zone, Inc., in a
form acceptable to the City Attorney, for the development of the
Wynwood Free Trade Zone utilizing a $5.5 million Section 108 Loan
Guarantee from the United States Department of Housing and Urban
Development.
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this 7th d f December 1995.
STzPMN P. CLARK, MAYOR
FINANCIAL AND BUDGETARY REVIEW:
Qn
MANOHAR S. S9
ASSISTANT CI GER
PREPARED AND APPROVED BY:
A K. ON
ASSISTANT CITY ATTORNEY
LKK/pb/csk/bss/W455
NET REVIEW AND APPROVAL:
ELBE WATERS, DIRECTOR
NET
APPROVED AS TO FORM AND
CORRECTNESS:
1 The herein authorization is further subject to compliance
with all requirements that may be imposed by the City
Attorney, including but not limited to those prescribed by
applicable City Charter and Code provisions.
8-1.tsi
2 - 95_ 860
J-98-528
5/07/98
RESOLUTION NO. 9 8 542
A RESOLUTION, WITH ATTACHMENT, RATIFYING THE
EXECUTION OF THE CONTRACT FOR LOAN GUARANTEE
ASSISTANCE UNDER SECTION 108 OF THE HOUSING AND
COMMUNITY DEVELOPMENT ACT OF 1974, AS AMENDED,
42 U.S.C. §5308, WITH THE DEPARTMENT OF HOUSING AND
URBAN DEVELOPMENT ("HUD"), ATTACHED HERETO;
DIRECTING THE CITY MANAGER AND THE CITY
ATTORNEY, AS RESPECTIVELY APPROPRIATE, TO
PREPARE AND/OR EXECUTE, ANY AND ALL OTHER
DOCUMENTS, INCLUDING NOTES, WHICH ARE
NECESSARY TO EFFECTUATE THE CITY'S RECEIPT FROM
HUD AND DISBURSEMENT OF THE SECTION 108 LOAN
GUARANTEE IN THE AMOUNT OF $5.5 MILLION TO DADE
FOREIGN TRADE ZONE, INC. TO ASSIST IN THE
FINANCING OF THE WYNWOOD FREE TRADE ZONE.
WHEREAS, pursuant to Resolution No. 95-585, passed and adopted by the City
Commission on July 13, 1995, the City Manager was authorized to prepare and submit an
application on behalf of Dade Foreign Trade Zone, Inc., to the U.S. Department of Housing and
Urban Development for a $5.5 million Section 108 Loan Guarantee ("Section 108 Loan") to
assist in the financing for the Wynwood Free Trade Zone; and
ATTACHMENT(S)I
CONTAINED
MAY 2 6 1998
F."Quft N..
542
98-1181
WHEREAS, HUD officially approved the City's Section 108 Loan application in
September, 1995; and
WHEREAS, pursuant to Resolution No. 95-859, passed and adopted by the City
Commission on December 7, 1995, the City Manager was authorized to execute the Funding
Approval/Agreement with HUD for the Section 108 Loan; and
WHEREAS, pursuant to Resolution No. 95-860, passed and adopted by the City
Commission on December 7, 1995, the City Manager was authorized to enter into an agreement
with Dade Foreign Trade Zone, Inc. for the disbursement and utilization of the Section 108 Loan;
and
WHEREAS, pursuant to Ordinance No. 11333, passed and adopted by the City
Commission on December 7, 1995, a Special Revenue Fund entitled "Wynwood Free Trade Zone
Section 109" was established and $5.5 million was appropriated for the operation of the
Wynwood Free Trade Zone; and
WHEREAS, in order to effectuate the receipt from HUD and the disbursement of the
Section 108 Loan to Dade Foreign Trade Zone, Inc., certain documents have to be executed by
the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section.
�- 542
PREPARED AND REVIEWED BY:
LINDA K. KEARSON,
ASSISTANT CITY ATTORNEY
Lkk/W2566
i
APPROVED AS TO FOW"AND
CORRECTNESS"
% L "JANDRO CELLO
�, "�TTY ATTORNEY
98-1181
98- 542
Section 2. The execution of the Contract for Loan Guarantee Assistance Under
Section 108 of the Housing and Community Development Act of 1974, as amended, 42 U.S.C.
§5308, with the U.S. Department of Housing and Urban Development ("HUD"), attached hereto,
is hereby ratified to effectuate the City's receipt from HUD and the disbursement of the Section
108 Loan in the amount of $5.5 million to Dade Foreign Trade Zone, Inc. to assist in the
financing for the Wynwood Free Trade Zone.
Section 3. The City Manager and the City Attorney, as respectively appropriate, are
hereby directed to prepare and/or execute any and all other documents, including Notes, which
are necessary to effectuate said financing.
Section 4. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 2 6 th day of May , 1998.
ATTEST:
WALTER, J. FOEMAN,
CITY CLERK
JOE CAROLLO, MAYOR
In accordance with Miami Code Sec. 2.36, since the Mayor did not indicate approval of
this legislation by signing it in the designated place provided, said legislatic,) - becomes effective with the elapse of ten (1C) days from th date of Ccmm' i
regarding same, without the Mayor exercicn 4c __
si g eto.
W er J. oeman, city Clerk
98- 542
98-1181
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM 20k
To The Honorable Mayor, Joe Carollo and May 11, 1998
TO : DATE : FILE
Members of the City Commission
SUBJECT: Resolution on the Wynwood Free
Trade Zone U.S. HUD Section 108
FROM: REFERENCES:
Jose Garcia -Pedrosa City Commission Meeting
City Manager ENCLOSURES: of May 26, 1998
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached Resolution
authorizing the City Manager to execute the final agreement, notes, and any other such
documents as required by the U.S. Department of Housing and Urban Development
(HUD), for the approval of the Section 108 Loan in the amount of $5.5 million for the
development of the Wynwood Free Trade Zone Project which is nearing completion.
BACKGROUND:
The Department of Community Development has analyzed the need to execute the
agreement, notes and other such documents in order to finalize the legal requirements
between the City and U.S. HUD prior to receipt and disbursement of the $5.5 million
Section 108 loan.
On July 13, 1995 the City Commission authorized submittal of an application for the U.S.
HUD Seedon 108 Loan to assist in the development of the Wynwood Free Trade Zone as
per Resolution 95-585.
On December 7, 1995 the City Commission adopted Resolutions 95-859 and 95-860
authorizing the City Manager to execute an agreement with U.S. HUD accepting the
award and authorizing the City Manager to enter into an agreement with the project
developer, Dade Foreign Trade Zone, Inc.
Authorization is now required to cover the actual HUD contract, notes and other such
documents pertaining to the disbursement of the Section 108 Loan.
JGP:CMC:GCW:JC:sjg
[Memosjg]<Pedrosa7>
98-1181
98- 542
CONTRACT FOR LOAN GUARANTEE ASSISTANCE UNDER
SECTION 108 OF THE HOUSING AND COMMUNITY DEVELOPMENT ACT
OF 1974, AS AMENDED, 42 U.S.C. §5308
Date of Contract
This Contract for Loan Guarantee Assistance ("Contract") is
entered into between THE CITY OF MIAMI, FLORIDA as Borrower (the
"Borrower") and the Secretary of Housing and Urban Development
("Secretary") as guarantor for the guarantee made pursuant to
Section 108 of Title I of the Housing and -Community Development
Act of 1974, as amended ("Title I") and to 24 C.F.R. Part 570,
Subpart M, of Note B-95-MC-12-0013-A, all notes' substituted as
provided in the original Note, and any additional notes issued
pursuant to the loan guarantee commitment dated
September 27, 1995 (collectively, the "Notes"), all having the
same note number. The Notes are hereby incorporated into the
Contract. Terms used in the Contract with initial capital
letters and not otherwise defined in the text hereof shall have
the respective meanings given thereto in the Notes. The Borrower
gives the Secretary full authority to act for the Borrower in
negotiating with the underwriters selected by the Secretary (the
"Underwriters") the terms of the public offering.
1. (a) All funds received by the Borrower under the Notes (the
"Guaranteed Loan Funds") shall be deposited immediately
on receipt in a separate identifiable custodial account
(the "Guaranteed Loan Funds Account") with a financial
institution whose deposits or accounts are Federally
insured. The balance of deposited funds exceeding such
insurance coverage shall be fully (100%) and
continuously collateralized by Government Obligations as
defined in paragraph 10. Such collateral shall be
pledged under a written security agreement, in a form
acceptable to the Secretary, and shall be held in a
separate custodial account on behalf of the Borrower for
the full term of deposit. The Borrower shall promptly
deliver to the Secretary an assignment, in a form
acceptable to the Secretary, of its interest in such
collateral whenever the balance of deposited funds
exceeds such insurance coverage.
98 - 542
The Guaranteed Loan Funds Account shall be established
and designated as prescribed in the attached form
document entitled "Letter Agreement for Section 108 Loan
Guarantee Program Custodial Account" (Attachment 1) and
shall be maintained for the Guaranteed Loan Funds. Such
Letter Agreement must be executed when the Guaranteed
Loan Funds Account is established. (A fully executed
copy of such Letter Agreement shall be submitted to the
Secretary within thirty days of its execution.) The
Borrower is authorized to make withdrawals from said
account only for the payment of the costs of approved
activities or for the temporary investment of funds.
Investments shall be limited to Government Obligations,
as defined in paragraph 10, having maturities that are
consistent with cash requirements of the approved
activities. In no event shall the investments mature on
or after June 1. 1998, or have maturities which exceed
one year. All investments shall be held in trust for
the benefit of the Secretary by the above financial
institution in an account (the "Guaranteed Loan Funds
Investment Account") established and designated as
prescribed in the attached form document entitled
"Letter Agreement for Section 108 Loan Guarantee Program
Custodial Investment Account" (Attachment 2) and shall
be maintained for Government Obligations purchased with
funds from the Guaranteed Loan Funds Account. The
Guaranteed Loan Funds Investment Account need only be
established if and when the Borrower invests the
Guaranteed Loan Funds in Government Obligations. Such
Letter Agreement must be executed when the Guaranteed
Loan Funds Investment Account is established. (A fully
executed copy of such Letter Agreement shall be
submitted to the Secretary within thirty days of its
execution.) All proceeds and income derived from such
investments shall be returned to the Guaranteed Loan
Funds Account. All funds in the Guaranteed Loan Funds
Account must be disbursed by the Borrower for approved
activities by June 1, 1998. Any funds remaining in the
Guaranteed Loan Funds Account after this date shall be
immediately transferred to the Loan Repayment Account.
(b) Borrower shall by the fifteenth day of each month
provide the Secretary with a written statement showing
the balance of funds in the Guaranteed Loan Funds
Account and the withdrawals from such account during the
preceding calendar month and a statement identifying the
obligations and their assignments in the Guaranteed Loan
Funds Investment Account.
(c) Upon a declaration of Default by the Secretary, all
right, title, and interest of the Borrower in and to the
Guaranteed Loan Funds Account and Guaranteed Loan Funds
Investment Account shall immediately vest in the
Secretary for use in the making of payment due on the
Notes or purchase of Government Obligations in
accordance with paragraph 10.
2. Pursuant to a fiscal agency agreement, the Borrower shall pay
to the fiscal agent selected by the Underwriters (the "Fiscal
Agent"), as collection and paying agent for the Notes, all
amounts due pursuant to the terms of the Notes. Payment
shall be made by 3:00 P. M. (New York City time) on the fifth
Business Day preceding the relevant Payment Date. ("Business
Day" shall mean a day on which banks in the city in which the
principal office of the Holder of the Notes is located are
not required or authorized to remain closed and on which the
Federal Reserve Bank of New York and --the New York Stock
Exchange are not closed.) Payment may be made by check or
wire transfer.
3. The Secretary shall select a new fiscal agent on behalf of
the Borrower if the Fiscal Agent resigns or is removed by the
Secretary.
4. (a) The Borrower shall pay the customary and usual issuance,
underwriting, and other costs of the public offering and
the interim financing, including the cost of
compensation of the Fiscal Agent. In the case of the
interim financing, the Fiscal Agent's fees are payable,
and may be deducted by the Fiscal Agent from, Advances
under the Notes. In the case of the public offering,
such payment'shall either be made by wire transfer to
the Fiscal Agent on the day prior to the Public Offering
Date or be made from the Guaranteed Loan Funds on the
Public Offering Date. _(The "Public Offering Date" shall
be the date fixed as such in a notice given by the
Underwriters to the Secretary not less than five
Business Days in advance thereof.) If the Borrower does
not make such payment, the Secretary may make such
payment with grants pledged pursuant to paragraph 5(a).
(b) The Borrower shall reimburse the Underwriters for all
out-of-pocket expenses (including reasonable fees and
disbursements of counsel) incurred in connection with
the proposed public offering if the public offering does
not occur because of any refusal, inability, or failure
on the part of the Borrower to submit to the Secretary
no later than ten days before the estimated Public
Offering Date the executed notes for the public
offering; the executed fiscal agency agreement; and an
opinion of the Borrower's counsel that the notes are
valid, binding, and enforceable obligations of the
Borrower, the governing body has authorized, in
accordance with applicable state and local law, the
3
98- 542
98-1181
5.
6.
issuance of the notes, the pledge of grants pursuant to
24 C.F.R. §570.705(b)(2) is valid, there is no
outstanding litigation that will affect the validity of
the notes, and the fiscal agency agreement is a valid,
binding, and enforceable obligation of the Borrower. If
the Borrower fails to reimburse the Underwriters as
provided in this paragraph, the Secretary may pay the
amount of the reimbursement from funds pledged pursuant
to paragraph 5(a).
The Borrower hereby pledges as security for repayment of the
Notes the following:
(a) All allocations or grants which have been made or for
which the Borrower may become eligible under Section 106
of the Act, as well as any grants which are or may
become available to the Borrower pursuant to Section
108(q).
(b) Program income, as defined at 24 CFR Section
570.500(a), directly generated from the use of the
Guaranteed Loan Funds.
(c) Other security:
(d) All proceeds (including insurance and condemnation
proceeds) from any of the foregoing.
(a) All amounts pledged pursuant to paragraphs 5(b), 5(c),
and 5(d) shall be deposited immediately on receipt in a
separate identifiable custodial account (the "Loan
Repayment Account") with a financial institution whose
deposits or accounts are Federally insured. The balance
of deposited funds exceeding such insurance coverage
shall be fully (loot) and continuously collateralized by
Government Obligations as defined in paragraph 10. Such
collateral shall be pledged under a written security
agreement, in a form acceptable to the Secretary, and
shall be held in a separate custodial account on behalf
of the Borrower for the full term of deposit. The
Borrower shall promptly deliver to the Secretary an
assignment, in a form acceptable to the Secretary, of
its interest in such collateral whenever the balance of
deposited funds exceeds such insurance coverage.
The Loan Repayment Account shall be established and
designated as prescribed in the attached form document
entitled "Letter Agreement for Section 108 Loan
Guarantee Program Custodial Account" (Attachment 1) and
shall be maintained for such pledged funds. The Loan
Repayment Account need only be established if and when
the Borrower receives amounts pledged pursuant to
4
9 8 - i is i
98- 542
paragraphs 5(b), 5(c) or 5(d). Such Letter Agreement
must be executed when the Loan Repayment Account is
established. (A fully executed copy of such Letter
Agreement shall be submitted to the Secretary within
thirty days of its execution.) Borrower is authorized
to make withdrawals from said account only for the
purpose of paying interest and principal due on the
Notes, including the purchase of Government Obligations
in accordance with paragraph 10, or for the temporary
investment of funds, until final payment and discharge
of the indebtedness evidenced by the Notes, unless
otherwise expressly authorized by the Secretary in
writing. Investments shall be limited to Government
Obligations, as defined in paragraph 10, having
maturities that are consistent with cash requirements
for payment of principal and interest as required under
the Notes. In no event shall the maturities of such
investments exceed one year. All investments shall be
held in trust for the benefit of the Secretary by the
above financial institution in an account (the "Loan
Repayment Investment Account") established and
designated as prescribed in the attached form document
entitled "Letter Agreement for Section 108 Loan
Guarantee Program Custodial Investment Account"
(Attachment 2) and shall be maintained for Government
Obligations purchased with funds from the Loan Repayment
Account. The Loan Repayment Investment Account need
only be established if and when the Borrower invests
funds in the Loan Repayment Account in Government
Obligations., Such Letter Agreement must be executed
when the Loan Repayment Investment Account is
established. (A fully executed copy of such Letter
Agreement shall be submitted to the Secretary within
thirty days of its execution.) All proceeds and income
derived from such investments shall be returned to the
Loan Repayment Account.
(b) Borrower shall by the fifteenth day of each month,
provide the Secretary with a written statement showing
the balance of funds in the Loan Repayment Account and
the deposits and withdrawals of all funds in such
account during the preceding calendar month and a
statement identifying the obligations and their
assignments in the Loan Repayment Investment Account.
(c) Upon a declaration of Default by the Secretary, all
right, title, and interest of the Borrower in and to the
Loan Repayment Account and Loan Repayment Investment
Account shall immediately vest in the Secretary for use
in the making of payments due on the Notes or purchase
of Government Obligations in accordance with paragraph
10.
5
98-11SI
98- 542
7. Any grants available to the Borrower under Section 106 of Title
I (including program income derived therefrom) are authorized to
be used by the Borrower for payments due on the Notes, or for
the purchase of Government Obligations in accordance with
paragraph 10.
8. Upon a determination by the Secretary that payments pursuant to
the requirements of paragraph 2 and paragraph 4 are unlikely to
be made as specified, the Secretary may limit the availability
of grants pledged pursuant to paragraph 5(a). Such limitation
shall be in an amount estimated by the Secretary to be
sufficient to ensure such payments are made when due and may be
effected by withholding amounts at the time such grants are
approved or by disapproving payment requests submitted with
respect to such grants.
9. The Secretary may use grants withheld pursuant to paragraph 8 to
make payments required by paragraph 2 and paragraph 4 if such
payments have not been made by the Borrower. _
10. For purposes of this Contract, the Notes shall be deemed to have
been paid if there shall have been deposited with the Fiscal
Agent either moneys or Government Obligations, which in the sole
determination of the Secretary, mature and bear interest at
times and in amounts sufficient, together with the moneys on
deposit with the Fiscal Agent for such purpose, to pay when due
the principal and interest to become due on the Notes. All of
the Notes or all Notes of any maturity may be so defeased,
provided that all Notes having the longest maturities are
defeased before those with shorter maturities. If any Note
defeased is subject to redemption, the due date of all the
principal due on the Note on the date of defeasance shall be
assumed to be the earliest possible redemption date under the
terms of the Note, for purposes of calculating the amount of
money on government obligations to be deposited with the Fiscal
Agent. If all Notes guaranteed pursuant to this Contract shall
be deemed to have been paid, then the Borrower shall be released
from all agreements, covenants, and further obligations under
this Contract. "Government Obligation" means direct obligation
of, or any obligation for which the full and timely payment of
principal and interest is guaranteed by, the United States of
America, including but not limited to, United States Treasury
Certificates of Indebtedness, Notes and Bonds - State and Local
Government Series or certificates of ownership of the principal
of or interest on direct obligations of, or obligations
unconditionally guaranteed by, the United States of America,
which obligations are held in trust by a commercial bank which
is a member of the Federal Reserve System and has capital and
surplus (exclusive of undivided profits) in excess of
$100,000,000. This privilege of defeasance shall be limited to
Notes in existence after a public offering.
98- 542
11
(a) A Default under the Notes shall occur upon failure by
the Borrower to:
(i) pay when due an installment of principal or interest
on the Notes, unless such payment is made when due by
the Secretary pursuant to paragraph 9; or
(ii) punctually and properly perform, observe, and
comply with any covenant, agreement, or condition
contained in: (A) this Contract, (B) any security
agreement, deed of trust, mortgage, assignment,
guaranty, or other contract securing.payment of
indebtedness evidenced by the Notes, and (C) any future
amendments, modifications, restatements, renewals, or
extensions hereof or thereof.
(b) The Borrower waives notice of Default and opportunity
for hearing with respect to a Default under paragraph
11 (a) .
(c) The Secretary may declare the Notes in Default if the
Secretary makes a final decision in accordance with the
provisions of 24 CFR §570.913, including requirements
for reasonable notice and opportunity for hearing, that
the Borrower has failed to comply substantially with
Title I. Notwithstanding any other provision, following
the giving of such reasonable notice, the Secretary may
withhold the guarantee of any or all obligations not yet
guaranteed under outstanding commitments, suspend
approval of further Advances under the Notes, and
request the Borrower's financial institution to refuse
to honor any instruments drawn upon, or withdrawals
from, the Guaranteed Loan Funds Account or to release
obligations and assignments from the Guaranteed Loan
Funds Investment Account, pending the Secretary's final
decision.
12. Upon a declaration of Default, the Secretary may exercise any or
all of the following remedies:
(a) The Secretary may continue to make payments due on the
Notes or purchase Government Obligations in accordance with
paragraph 10 with any pledged funds and may use pledged
funds to pay any interest due for late payment.
(b) The Secretary may withhold the guarantee of any or all
obligations not yet guaranteed under outstanding
commitments.
(c) The Secretary may withhold approval for any or all further
Advances under the Notes.
7
98- 542
98-1181
(d) Until the Public Offering Date, the Secretary may
accelerate the Notes.
(e) The Secretary may exercise any other appropriate remedies
or sanctions authorized under laws or regulations
applicable to the assistance provided under this Contract,
or may institute any other action authorized by law to
recover Guaranteed Loan Funds from amounts pledged under
this Contract.
13. The Contract and the Notes are hereby incorporated5in and made a
part of the Grant Agreement authorized by the Secretary on
Aucrust 21. 1995 under the Funding Approval for grant number
B-95-MC-12-0013-A to the Borrower.
14. The Borrower's liability for amounts due pursuant to the terms
of the Notes shall be limited to the security pledged in
paragraph 5 of this Contract.
15. Special Conditions and Modifications:
[X] Check if continued on extra sheet and attach.
[REST OF PAGE LEFT INTENTIONALLY BLANK]
8
98- 542
IN WITNESS WHEREOF, the undersigned, as authorized officials of
the Borrower and the Secretary, have executed this Contract for Loan
Guarantee Assistance.
THE
ATTEST: CITY
By: By:
Walter Foeman
City Clerk
APPROVED AS TO FORM AND CORRECTNESS:
By:
A. Au;dA
City Atto
Date:
SECRETARY OF HOUSING AND URBAN DEVELOPMENT
By:
Date:
E
98- 542
98-1181
15. Special Conditions and Modifications:
(a) Paragraph 5(c) of the contract is amended by deleting
the paragraph as written in its entirety and substitute
therefor the following:
"(c) Other security, including, but not limited to, all
rights of the Borrower (but none of the
obligations of the Borrower) in and to the
"Security Documents" (as defined in paragraph
15(c) hereof) and to the collateral described.
therein. If necessary to provide the Secretary
with a valid security interest in such other
security, the Borrower shall execute a security
agreement (the "City Security Agreement"), which
City Security Agreement shall be in a form
acceptable to the Secretary."
(b) Guaranteed Loan Funds shall be used by the Borrower to
assist Dade Foreign Trade Zone, Inc. (the "Obligor")
with the development of Phase I of a commercial project
located in the Borrower.'s Wynwood Foreign Trade Zone
area, as further described in the Tri-Party Agreement
among the Obligor, the Borrower and City National Bank
of Florida, dated May 3, 1996. Guaranteed Loan Funds,
as well as any proceeds from the investment thereof,
are collectively referred to herein as "Project Funds."
Assistance to the Obligor with Project Funds shall
consist of a loan (the "Obligor Loan"), which loan
shall be evidenced by promissory notes (the "Obligor
Notes") and loan agreements (the "Loan Agreements"),
which Obligor Notes and Loan Agreements shall be in a
form acceptable to the Secretary and be made pursuant
to guidelines approved in writing by the Secretary. As
security for loans made with Guaranteed Loan Funds to
the Obligor, the Borrower shall obtain the following
collateral (collectively, the "Collateral"):
(1) A lien on the real property described in
Attachment 3 hereof (the "Property"), established
through appropriate and properly recorded
mortgages (collectively, the "Mortgage"). The
Mortgage shall be a first mortgage and shall
contain such provisions as the Secretary deems
necessary, provided that the Mortgage may be
subordinate to a construction loan from a
commercial lender and only during the period of
construction.
(2) An assignment of any and all rights, titles, and
interests of the Obligor in and to any leases
10
g8-11SI
98- 542
covering the Property, including rents payable
thereunder, existing before or executed after the
date of this Contract. Such rights, titles, and
interests of the Obligor shall be the subject of
collateral assignment of leases and rents (the
"Collateral Assignment of Leases and Rents").
Collateral Assignment of Leases and Rents shall
in a form acceptable to the Secretary and shall
subordinate only to the first mortgage on the
Property and any prior mortgage referenced in
Paragraph (A) above.
a
The
be
be
(3) A first priority security interest (collectively,
the "Security Interests") in the property and
inventory described in Attachment 4 hereof. The
Security Interests shall be granted pursuant to an
appropriate security agreement (the "Security
Agreement"), which Security Agreement shall be
referenced in appropriate Uniform Commercial Code
Financing Statements filed in accordance with the
Uniform Commercial Code. The Security Agreement
and such Uniform Commercial Code Financing
Statements shall be in a form acceptable to the
Secretary and shall be subordinate only to the
first security interest in the property and
inventory and any prior interest referenced in
paragraph (A) above.
(c) The Borrower shall select a financial institution
acceptable to the Secretary (the "Custodian") to act as
custodian for the documents specified in (d) below
(hereinafter referred to as the Security Documents").
The Borrower and the Custodian shall enter into a
written agreement containing such provisions as the
Secretary deems necessary. A fully executed copy of
such agreement, with original signatures, shall be
forwarded to the Secretary contemporaneously with the
delivery of documents pursuant to (d) below.
(d) Not later than thirty days after execution of the
Mortgage, the Borrower shall deliver to the Custodian
the following:
(i) The original Obligor Notes, endorsed in blank and
without recourse.
(ii) The original Loan Agreements and an assignment
thereof, which assignment shall be in a form
acceptable to the Secretary.
11
98- 542
98--11.81
(iii) The original recorded Mortgage signed by the
obligor and an assignment thereof, in recordable
form but unrecorded, which assignment shall be in
a form acceptable to the Secretary.
(iv) The original Collateral Assignment of Leases and
Rents and an assignment thereof, in recordable
form but unrecorded, which assignment shall be in
a form acceptable to the Secretary.
(v) The Security Agreement and an assignment thereof,
which assignment shall be in a form acceptable to
the Secretary.
(vi) An opinion of the Borrower's counsel, addressed to
the Secretary and on its letterhead, that:
(A) the Obligor is a corporation duly organized,
validly existing, and in good standing under
the laws of the State of Florida;
(B) the Obligor Notes have been duly executed and
delivered by a party authorized by the
Obligor to take such action and are valid and
binding obligations of -the Obligor,
enforceable in accordance with their terms,
except as limited by bankruptcy and similar
laws affecting creditors generally; and
(C) the security instruments specified in (ii)
through (v) above are valid and legally
binding obligations, enforceable in
accordance with their respective terms.
(vii) A mortgagee title policy, issued by a company and
in a form acceptable to the Secretary, naming the
Borrower as the insured party. The policy must
either include in the definition of the "insured"
each successor in ownership of the indebtedness
secured by the Mortgage or be accompanied by an
endorsement of the policy to the Secretary.
(viii) A certified survey with a legal description
conforming to the title policy and the Mortgage.
(ix) An appraisal of the fee simple ownership interest
in the Property specifying an estimate of fair
market value of not less than 125% of all
indebtedness secured by the Property. The
appraisal shall be completed by an appraiser who
is certified by the state and has a professional
12
designation (such as "SRA" or 11MAI'I), and shall
conform to the standards of the Financial
Institutions Reform, Recovery and Enforcement Act
of 1989 ("FIRREA").
(e) Paragraph 12 is amended by adding at the end thereof
the following language:
"(f) The Secretary may complete the endorsement of the
Obligor Notes and record the assignments referred
to in paragraphs 15(d), and thereby effectuate the
transfer of the documents referenced and
underlying indebtedness from the Borrower to the
Secretary or the Secretary's assignee.
"(g) The Secretary may exercise or enforce any and all
other rights or remedies (including any and all
rights and remedies available to a secured party
under the Uniform Commercial Code) available by
law or agreement (including any of the Security
Documents, as defined in paragraph 15(c)) against
the Collateral, against the Borrower, against the
Obligor, or against any other person or property.
(f) The Borrower agrees that it shall promptly notify the
Secretary in writing upon the occurrence of any event
which constitutes a default (an "Event of Default")
under (and as defined in) any of the Security
Documents, as defined in paragraph 15(c). Notification
of an Event•of Default shall be delivered to the
Secretary, at 451 Seventh Street, SW, Washington, D.C.
20410, Attention: Director, Financial Management
Division, Office of the Assistant Secretary for
Community Planning and Development. Upon the
occurrence of an Event of Default, the Secretary may
(without prior notice or hearing, which Borrower hereby
expressly waives), in addition to (and not in lieu of)
exercising any and all remedies that may be available
under the Security Documents, declare the Notes in
Default and exercise any and all remedies available
under paragraph 12. This paragraph 15(f) shall not
affect the right of the Secretary to declare the Notes
in Default pursuant to paragraph 11 and to exercise in
connection therewith any and all remedies available
under paragraph 12.
(g) At the option of the Secretary, the Notes shall be
exchanged for a new note.(the "Replacement Note")
repayable in principal installments at times and
in amounts identical to the maturities and amounts
specified in the Notes. The Replacement Note
shall be in a form that will enable the Secretary
13
98-1181
98- 54Z
to arrange for the issuance of trust certificates
or other obligations backed by a pool composed of
the Replacement Note (and similar notes issued by
other Section 108 borrowers). When notified in
writing by the Secretary, the Borrower shall
execute and deliver to the Secretary the .
Replacement Note and a new Contract for Loan
Guarantee Assistance containing such modifications
as deemed necessary by the Secretary to permit the
issuance of such trust certificates or other
obligations.
14 9O-
:J O
54
ATTACMIENT 1
U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
LETTER AGREEMENT FOR
SECTION 108 LOAN GUARANTEE PROGRAM
CUSTODIAL ACCOUNT
Name of Institution (and Branch)
Street
City
DATE
[) This account is established for funds received by the Borrower
under note(s) guaranteed by the United States Department of
Housing and Urban Development (HUD) under the Section 108 Loan
Guarantee Program. (Guaranteed Loan Funds Account.)
N This account is established for repayment of the note guaranteed
by HUD under the Section 108 Loan Guarantee Program. (Loan
Repayment Account).
[) This account is established as a debt service reserve under
the Section 108 Loan Guarantee Program. (Debt Service Reserve
Account.)
You are hereby authorized and requested to establish a custodial
account to be specifically designated
Trustee of United States Department of Housing and Urban
Development." All deposits made in such account shall be subject to
withdrawal therefrom by the Borrower named below, and shall also be
subject to withdrawal therefrom by HUD. No agent of the Borrower
shall be authorized to withdraw funds from the account. You are also
authorized to pay HUD at any time upon its written demand, which need
not name a specific amount, the entire amount in such account subject
only to notice requirements contained in applicable regulations
governing this institution, but in no event to exceed seven business
days.
You are further authorized upon the request of HUD to refuse to
honor any instrument drawn upon or withdrawals from such account by
98-1181
98- 54
parties other than HUD and to change the name of the aforesaid
account to the "United States Department of Housing and Urban
Development." In no instance shall the funds in the Custodial
Account be used to offset funds which may have been advanced to, or
on behalf of, the Borrower by the custodian institution.
This letter is submitted to you in duplicate. Please execute
the duplicate copy of the certificate below, acknowledging the
existence of such account, so that we may present the copy signed by
you to HUD.
CITY OF
Name of
By (Signature)
Title CITY MANAGER
The undersigned institution certifies to the United States
Department of Housing and Urban Development (HUD) that the account
identified is in existence in this institution under account number _
and agrees with the Borrower named above and HUD
to honor demands on such account in the manner provided in the above
letter, subject only to notice requirements contained in applicable
regulations governing this institution, but in no event to exceed
seven business days. The undersigned institution further agrees upon
the request of HUD to refuse to honor any instruments drawn upon or
withdrawals from such account by parties other than HUD and to change
the name of the aforesaid account -to "United States Department of
Housing and Urban Development." In no instance shall the funds in
the Custodial Account be used to offset funds which may have been
advanced to, or on behalf of, the Borrower by the custodian
institution. Deposits in this institution are insured by the Federal
Deposit Insurance Corporation, the Federal Savings and Loan Insurance
Corporation, or the National Credit Union Administration.
Name of Institution By
Title Date
S8-iIS1I
98- 542
ATTACHMENT 2
U. S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
LETTER AGREEMENT FOR
SECTION 108 LOAN GUARANTEE PROGRAM
CUSTODIAL INVESTMENT ACCOUNT
Name of Institution (and Branch)
Street
City
DATE
[J This account is established to hold obligations and their
assignments, such obligations having been purchased with funds
from the Guaranteed Loan Funds Account. (Guaranteed Loan Funds
Investment Account.)
[J This account is established to hold obligations and their
assignments, such obligations having been purchased with funds
from the Loan Repayment Account. (Loan Repayment Investment
Account.)
[J This account is established to hold obligations and their
assignments, such obligations having been purchased with funds
from the Debt Service Reserve Account. (Debt Service Reserve
Investment Account.)
You are hereby authorized and requested to hold obligations and
assignments of those obligations in trust for the United States
Department of Housing and Urban Development (HUD) in an account
specifically designated
Trustee of United States Department of Housing and Urban
Development." All obligations and assignments shall be subject to
release to the Borrower named below, and shall also be subject to
release to HUD. No agent of the Borrower shall be authorized to
release the obligations or assignments. You are also authorized to
release the obligations and assignments to HUD at any time upon its
written demand, which need not name specific obligations and
assignments, all obligations and assignments being held in such
account subjeQt, only to any notice requirements contained in
applicable regulations governing this institution, but in no event to
exceed seven business days.
9S-1181
98- �2
You .are further authorized upon the request of HUD to refuse to
honor any request for release of the obligations and assignments from
such account by parties other than HUD and to change the name of the
aforesaid account to the "United States Department of Housing and
Urban Development." In no instance shall the obligations in the
account be used to offset funds which may have been advanced to, or
on behalf of, the Borrower by the custodian institution.
This letter is submitted to you
the duplicate copy of the certificate
existence of such account, so that we
you to HUD.
CITY OF MIAMI
Name of Borrc
By (Signature)— EDWARD
Title
in duplicate. Please execute
below, acknowledging the
may present the copy signed by
The undersigned institution certifies to the United States
Department of Housing and Urban Development (HUD) that the account
identified is in existence in this institution under account number _
and agrees with the Borrower named above and HUD
to honor demands release on such account in the manner provided in
the above letter, subject -only to any notice requirements contained
in applicable regulations governing this institution, but in no event
to exceed seven business days. The undersigned institution further
agrees upon the request of HUD to refuse to honor any request for
release of the obligations and assignments from such account by
parties other than HUD and to change the name of the aforesaid
account to "United States Department of Housing and Urban
Development." In no instance shall the obligations in the account be
used to offset funds which may have been advanced to, or on behalf
of, the Borrower by the custodian institution. Deposits in this
institution are insured by the Federal Deposit Insurance Corporation,
the Federal Savings and Loan Insurance Corporation, or the National
Credit Union Administration.
Name of Institution By
Title Date
9 s)
98- UN42
ATTACH 3
Legal Description of Real Property
[Borrower shall insert legal description]
98-1181
98- 542,
ATTACHMNT 4
Description of Personal Property
[Borrower shall insert description]
�3?�- 5'4
J-92-848
11/25/92
RESOLUTION NO. 9 2 _ 812
A RESOLUTION, WITH ATTACHMENTS, AUTHORIZING
THE CITY MANAGER TO PREPARE AND SUBMIT AN
APPLICATION TO THE UNITED STATES DEPARTMENT
OF HOUSING AND URBAN DEVELOPMENT ("HUD"), IN
SUBSTANTIALLY THE ATTACHED FORM, FOR A $2.5
MILLION LOAN UNDER THE HUD SECTION 108
PROGRAM FOR THE PURPOSE OF FINANCING THE
DEVELOPMENT OF A RESTAURANTS/SPORTS BAR
COMPLEX, LOCATED IN THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT
DISTRICT, AT APPROXIMATELY NORTHWEST STH
STREET AND NORTHWEST 1ST AVENUE, MIAMI,
FLORIDA.
WHEREAS, the City of Miami is committed to assist private
investments that will create new jobs and remove slum and blight
in the designated Community Development Target areas; and
WHEREAS, the Citadel Restaurants/Sports Bar Complex project
("Project") is located in the Southeast Overtown/Park West
Redevelopment District; and
WHEREAS, the proposed Project is a privately initiated
effort, revitalizing the old Citadel Building and developing an
adjoining three story building to create a complex of restaurants
and a sports bar; and
WHEREAS, it is quite difficult to finance the proposed
Project through the conventional financing means; and
IATTACHMENT(S)
C0 TAINsr. D
CITY CONMSSION.
h:EETING OF
DEC 1 0 1992
Rvaolution No.
92— 812
WHEREAS, the developer has requested the assistance of the
City for the purpose of putting together a financing package to
undertake the proposed Project; and
WHEREAS, the United States Department of Housing and Urban
Development has established the Section 108 Loan program to
assist projects located in the Community Development target
areas; and
WHEREAS, repayment of the HUD Section 108 Loan shall be made
by the revenues generated from the Project; and
WHEREAS, the City will use its future Community Development
Block Grant allocations as collateral for the said loan;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Agreement are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
Section 2. The City Manager is hereby authorized to
prepare and submit an application, in substantially the attached
form, to the United States Department of Housing and Urban
Development for a $2.5 Million loan under the HUD Section 108
program for the purpose of financing the development of a
Restaurants/Sports Bar Complex, located in the Southeast
Overtown/Park West Community Redevelopment District, at
approximately N.W. 5th Street and N.W. 1st Avenue, Miami,
Florida.
-2- 9 2 - 812
Section 3. This Resolution shall become effective
immediately upon its adoption.
PASSED AND ADOPTED this
CITY CLERK
PREPARED AND APPROVED BY:
LINDA K. KEARSON
ASSISTANT CITY ATTORNEY
loth day of December 1992.
XAVIER L.JJAREZ,-SAYOR
APPROVED AS TO FORM AND CORRECTNESS:
r �
CITY ATT EY
LKK:csk:M3302
-3-
98-il8i
92- 812
U" LFL U
APPLICATION FOR
SECTION 108 LOAN GUARANTEE FOR
THE CITADEL PROJECT
December 1992
CITY OF MIAMI, FLORIDA
Xavier L. Suarez, Mayor
Victor H. De Yurre, Vice -Mayor
Dr. Miriam Alonso, Commissioner
Miller Dawkins, Commissioner
J. L. Plummer, Commissioner
Cesar H. Odio, City Manager
Prepared By: Department of Development & Housing Conservation
S8-11ML
92-- 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
CONTENTS
Application:
Page
ProjectDescription .................................... 1
EconomicJustification ................................. 3
Compliance with National Objective ..................... 4
ProposedRepayment ..................................... 5
**Exhibits to this Application are not included with this Legis-
lative Package**
98-1181
92- 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
Page 1
Applicant: City of Miami, Florida, a municipal
corporation
Amount of Funds: $2,500,000.00
Loan Repayment: Interest only during first three years,
payable semiannually; principal and
interest, amortized over thirty years
period, payable semiannually during
years four through ten, a balloon pay-
ment of the outstanding balance at the
end of the tenth year, at the interest
rate specified by US HUD pursuant to its
offering,
National Objectives: Creation of 150 full-time equivalent
jobs, of which at least 75% would be
low -to -moderate income persons
570.702(b)(2) Project Description: The City of Miami ("Applicant")
proposes to use the $2.5 million of Section 108 loan to fund the
development of a Restaurants/Sports Bar Complex ("Project")
located in the Southeast Overtown/Park West Community Redevelop-
ment District.
The Citadel Arena Corporation ("Developer") is proposing a $5.3
million project which consists of restoration of a historic
Mediterranean/Gothic building and construction of an adjoining
three story building with combined space of 46,277 s.f. The
Project will accommodate 7-8 fast-food type restaurants and
10,000 s.f. of common space to serve the diners. The second
floor is designated for a Restaurant/Sports Bar type facility
which is expected to be the largest of its kind in Florida. The
building's third floor will most likely be occupied by a tenant
whose specialty is high technology/laser games.
92-- 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
Page 2
The Project site is located in the Southeast Overtown/Park West
Redevelopment District, created under Chapter 163 F.S.S., is
currently the largest urban renewal effort undertaken in the
Southeastern United States. In the immediate vicinity of the
Project site several residential and commercial projects have
been developed, such as: the Miami Sports Arena (opened in 1988,
one block); Arena Towers (354 units apartment complex with 100%
occupancy, two blocks); Biscayne View (462 units apartment com-
plex with 100% occupancy, three blocks); Poinciana Village Condo-
miniums (40 units condominium, also three blocks).
Directly across from the Project site is the new Federal Law
Enforcement Building, expected to house over 350 Federal Judges
and the US Attorney's Office (occupancy in early 1993). Also
under construction, next to the Federal Law Enforcement Build-
ing, is the new Downtown Federal Detention Center which is ex-
pected to house over 900 new employees.
Miami -Dade Community College with enrollment of 15,000 students,
Miami Police Department, State of Florida Administrative Offices
are among many institutions located within three blocks of the
site.
98-1181
92- 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
Page 3
Economic Justification: Use of the Section 108 Program offers the
Applicant a unique opportunity to provide development financing
assistance which will enable the Developer to complete the de-
velopment of the Project. Without the Section 108 loan assis-
tance, the Applicant could not make the loan to the Developer.
After its completion, the Project is expected to generate 150
full-time jobs which will primarily benefit low -to -moderate
income persons.
Florida Law prohibits the Applicant from directly pledging its
credit, becoming joint owner, stockholder, or giving, lending or
using its taxing power to aid any corporation, association,
partnership, or persons. Through the utilization of the Section
108 Loan Program; however, the Applicant can use its Community
Development Block Grant ("CDBG") Entitlement as security for the
proposed loan. But for the Section 108 Loan Program, the Appli-
cant could not provide the appropriate level of financing needed
for the Project.
Typically, the Applicant has not provided primary financing
assistance for redevelopment projects. Heretofore, gap financing
or other subordinate financing assistance has been used by the
Applicant to stimulate redevelopment projects.
Presently, real estate loans for projects located in community
development target areas are extremely difficult to obtain. As a
result, the Developer has requested that the Applicant pursue
financing assistance through the HUD Section 108 Loan Program.
The Applicant has reviewed the information provided by the Devel-
oper and deems this project loan appropriate for the redevelop-
ment of efforts of the Applicant in the Southeast Overtown/.Park
West Community Redevelopment District and Downtown Miami Communi-
ty Development Target Area.
9S-11SI
92- 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
Page 4
Compliance with 570.208 - Jobs Creation: The Developer has indicated
that upon completion, the proposed Restaurants/Sports Bar project
will create approximately 150 full-time jobs, primarily benefit-
ing low -to -moderate income persons. In order to meet the nation-
al objective of creating the jobs to benefit low -to -moderate
income persons, the Developer will work closely with local non-
profit job placement agencies such as the Private Industry Coun-
cil, City of Miami Neighborhood Jobs Program, etc.
98r11si
92= 812
City of Miami, Florida
Section 108 Loan Guarantee Application
The Citadel Project
Page 5
570.702(b)(3) Proposed ReQayment and Repayment Schedule: The
Applicant's loan to the Developer stipulates a ten (10) year term
from date of disbursement, interest only for the first three
years, payable semiannually at the rate of interest specified by
US HUD. For the years four (4) through ten (10), interest and
principal payments, amortized for thirty years period, payable
semiannually at the same initial interest rate specified by US
HUD; and a balloon payment of the outstanding balance at the end
of tenth year.
In the event that the Developer repays the loan prior to the end
of the tenth year, the Applicant proposes to utilize the Section
108 Loan funds in a revolving loan fund for other eligible commu-
nity redevelopment projects.
The interest and principal payments for the Section 108 Loan will
be paid by the Developer or by subsequent corporations, persons
if applicable. The applicant reserves the right to pay interest
as well as principal payments from any other source of funds
available at the time. Additionally, the Applicant reserves the
right to acquire the assets of the Developer, through foreclosure
if necessary, and to liquidate the same in the event of a default
on the Developer's loan, and to utilize the proceeds of the
liquidation sale to repay if any other source of funding engaged
to make interest and/or principal payments. Any deficiency which
may result shall be pursued by the Applicant against the Develop-
er under the terms of the Loan Agreement by and between the
Applicant and the Developer.
Community Development Block Grant funds serve only as the guaran-
tee to the US HUD. The Applicant does not intend or expect to
utilize CDBG funds for interest or principal payments for repay-
ment of the Section 108 Loan. The Applicant has reviewed the
Developer's request and, based upon the information presently
available, believes that the proposed loan is appropriate to
further the redevelopment efforts of the Applicant in the South-
east Overtown/Park West Community Redevelopment District and
Downtown Miami Community Development Target Area.
Applicant shall obtain a first lien (mortgage) on the building
improvements, furniture, fixtures, equipment, and inventory
located upon the premises now and during the loan term as securi-
ty for its loan.
92-- 812
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM
TO Honorable Mayor and Members
of the City Commission
FROM Cesar H. Odlo
City Manager
DATE : FILE
SUBJECT Section 108 Loan for
the Citadel Complex
REFERENCESClty Commission Meeting
of December 10, 1992
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the
attached Resolution, authorizing the City Manager to prepare and
submit an application to the U.S. Department of Housing and Urban
Development ("HUD") for a $2.5 Million loan under the HUD Section
108 Program for the purpose of financing the development of a
Restaurants/Sports Bar Complex, at the corner of NW 5th Street
and NW 1st Avenue.
• 1�
The Department of Development recommends the approval of the
attached Resolution to submit a HUD Section 108 Loan Application
to assist the development of the Citadel Restaurants/Sports Bar
Complex.
The Citadel Arena Corporation, the owner and developer of the
proposed project, has requested an assistance of the City to put
together a financing package to make the project a reality. The
project site is located in the S.E. Overtown/Park West Redevelop-
ment District and meeting the objectives of the HUD 108 Loan
Program.
The City, as the applicant for the HUD Section 108 Loan, shall
pledge its future Community Development Block Grant entitlements
as collateral for the proposed loan.
98-1181
92- 812
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Honorable Mayor and Members
of the City Commission
A�,e,�
FROM Cesar H. Odio
City Manager
DATE : ° • r 11 FILE
SUBJECT : Section 108 Loan for
the Citadel Complex
REFERENCESCity Commission Meeting
of December 10, 1992
ENCLOSURES:
It is respectfully recommended that the City Commission adopt the
attached Resolution, authorizing the City Manager to prepare and
submit an application to the U.S. Department of Housing and Urban
Development ("HUD") for a $2.5 Million loan under the HUD Section
108 Program for the purpose of financing the development of a
Restaurants/Sports Bar Complex, at the corner of NW 5th Street
and NW 1st Avenue.
The Department of Development recommends the approval of the
attached Resolution to submit a HUD Section 108 Loan Application
to assist the development of the Citadel Restaurants/Sports Bar
Complex.
The Citadel Arena Corporation, the owner and developer of the
proposed project, has requested assistance of the City to put
together a financing package to make the project a reality. The
project site is located in the S.E. Overtown/Park West Redevelop-
ment District and meeting the objectives of the HUD 108 Loan
Program.
The City, as the applicant for the HUD Section 108 Loan, shall
pledge its future Community Development Block Grant entitlements
as collateral for the proposed loan.
35
Alp
H1SpAN1C-.s,.ATIN FOUL, DATION-
ABROAD AND UNTIED VOICE
Non -Profit Organization
September 22,1992
MR. J.L. PLUMMER. Jr.
C,onxrF1009oner
CPTY OF MIAMI
3500 Pan Arnedcan Drive
Miami, Florida 33133
LTNTMD IN THE
Fax: 305- 1 -3334
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RE: REDUESTING YOUR SUPPORT AND SPONSORSHIP FOR THE MIAMI
INTERNATIONAL CUP TO RAISE FUNDS FOR SOUTH FLORIDA'S YOUTH
AFFECTED BY HURRICANE ANDREW
Dear Commissioner Plummer:
5 Q45"
We hereby respeoully request the CRY OF M AMrs support as a SPONSOR of the FOUNDATION'S
Fundraising International Sports and Cultural Event for the Youth of Miami affected by Hurricane
Andrew. The main purpose of the event is 1n provide a source of Fundraising m assist the Youth of
Miami in the Aftermath of Hurricane Andrew. It will also provide much needed relaxation and
entertainment for South FbricWs population, a diversion badly needed by those upon whom Hurricane
Andrew has inftioted a great psychological IS and tremendous bases. Additionally, our planned event
will be a message to the world that Miamrs Tourfam errd Intarnationst Trade are afive and well.
The history of Intemational Soccer Events In fKwmf shows that lot professional teams allrM or
bring m Miami over 2 planeloads of burials or tans. Most of these foreign visitors ar+e bWfwm
people who. during their stay, take the opportunity to do business - international trade,
reviewing their Impost orders or placing now orders, 0W*1dertrg investments, making depoatts
in banks, shopping, eto. Therefore, lour well known sooner teams from South America, Central
America, Africa, and possbfy Spain will be the protagonists In our Event. Due to their busy national
league Wumaments which are currently being played. It is not possible at this time to determine exactly
which four teams v n1I be involved in our sports event. We are working with their national professional
leagues and the k dfviduai teams to Crake fie rival deterrnfnakon.
Along with the irftmationat s000er marches, we plan fo fifer a culkaW exttavapa za with some Latin
American toMoric groups and artists. We are working out the details of such a combined sporta-
culturai event. As a rmft of a conversation 1 had on September 4, 1992 with an official of the
Panamanian airline COPA, the airtime has ofted to bring the BALLET FOMORICO DE PANAMA for
our proposed fundraising event. We have -also gotten a positive response from senior officials d
AMERICAN AIRLINES and HERTZ RENT A CAR. COPA, AMERICAN AIRLINES and HERTZ have
21 agreed to consider acting as mapr sponsors d the rrent. They are wafting 10 receive our formal
proposal. There are numerous other corporations, agertdes. and organizations whom we plan to sail
on in the next few days to ask for their support and sponsorship.
2050-Ooral Way. Suite 611- P.M. -Box 522097. Miami. Fl. 33152 - Phone: 305-5Q-0010 - Fax: 305654-BM
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HISPANIC-IATIN FOUNDATION
A BROAD AND UNITED VOICE
Non -Profit organization
UNITED IN THE REBUILDING
ANON -PROFIT FUNDRAISING
INTERNATIONAL SPORTS EVENT
"THE MIAMI CUP"
FOR SOUTH FLORIDA'S YOUTH AFTER
HURRICANE ANDREW
SUMMARY PROPOSAL
OBACTIYE To raise funds for the Youth of South Florida In the Hurricane Andrew
Aftermath by ptanr ft and irrPlementing an Interrmaf=W Soccer Event,
'THE MIAMI CUP', 6 games or alterna<ivshr 4 games.
POTENTIAL Four wel*nown professional soccer tsars, such as:
PART101PANTS
trokmrtmbia:
>' 96tico NsobW de Medellin, or
An*fta de W. or
M11onarios de Eogotfii, or
Santa Fe de Dogod
Spstn:
Roo MsM or anof w
Ms*o:
AmfSrim or a x*w
Afrioa
Under oonsiderbion
Honduras:
Argerdirm
OV"A or ano w
Under Consideration
MARKET: We estimate 65,WD to 100,0W persons wN attend the games:. Over a mBion
(ESTIMATED people vAl hear. view or read the advertiserrmeris announcing and promoting
ATTENDANCE the event whlch, at the same time. promote Miami NO South Florida. The
event will also be promoted in the padidoatirg countries. We plan to attract to
Miami hundreds of fans U vefGnD from said countries.
LOCATION ORANGE BOWL of Miami, Me * rsrioVAW
TENTATIVE Friday, February S.1993
DATES Sunday, February 7,1993
A third dap, Wednesday, February 3,1M Is under consideration. Final data
subject to the cmurent tourrmamertts of the professional teams in their horns
countries.
2050 Coral Way. Sub 611 • P.O. Box SZM7, k6amt, FL 33152 • Phone: 305-552-MU - Fax: 3OS-gSS44232
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HISPANIC-LATIN FOUNDATION
_ A BROAD AND UNITED VOICE
Non -Profit Organiwtjon
FOUNDATION'S PURPOSES
1. To unite diverse groups of ;*resorts interostsd In bettering the general conditions of Hispanics -Latins in
the United States. Hispania -Latins Dude Latin Mmim s, Spaniards, Portuguese and others of
Hispanco-Min origin.
9. To help identify Hispanic-Arrer owns who are capable. professional and honest team ptayera and assist
them to obtain positions of srf ame sl gmffn s and corporate top decision -making leveis.
S. To iriorm the members of their rights and privileges as dbwnr, of the United States of America and
assist them In exercising their Inalienable Constitutionally Protected Rights. To ernowne and assist
residents to become citizens of the United States of America.
4. To promote educational, business, employment, housing, outtural, sports, and eooramic activities; to
serve as Faison wKh government agencies, industry and other organizations, all of which serve to benefit
the FoLmmTroa nwmbvm, the Hispanio-Latin community, and Its relationship to society in general.
S. To promote cultural, economic, oom ffwrcW and educational programs with Latin American and
Caribbean countries to achieve better Integration and development of our Hemrsphene.
S. To develop specific programs which will make the FOUNDATION an effective Irk assisting in the
Washington and Latin Anwriea relations.
7. To assist in a non -partisan manner citizens of Hispanicd.abn origin to register to vote. b inform citizens
of Hispanio-Latin origin of boat and national Issues, and of professional, cepable.hvrtest candidates; so
as to aid them In their decision to vote in a manner that mpresera their needs.
8. To cotlaborate with other organizations of the Hispanic-Lafin and Minority communities on Issues of
oornrnort Interest, $o as b develop a wide base of InAuenoe and achieve effective results for the benefit of
Hispanics-t-alms, other MinorkWs, and $ociety n;rural.
S. To solicQ funds and donations in kindt from tree to limns to fuRhet the purposes of the FOUNDiATm.
FOUNDATIONS SERVICES
7_ -NetworiciW among the ffwmbM to promote VOW products andW services.
B. Cultural, economic, commercial and educational programs with Latin American and Caribbean countries.
a. General kionnation about existing furtdng and oornnwrdal ban programs wth Inoentives for merchants
and prolessionsls.
4- General Infomnabon as to how to sell Products and services tp the largest buyer in the United States: the
federal government and local goverrtrne iL
5. General assistance to the members who need help with speffe offices or agencies of the government
& To organize voter registration and citizenship drives.
7. To plan and develop programs to offer scitolarshos and educational inoeMivas.
S. To develop and maintain current demographic statistics on firapark Latins by country of origin,
S. To develop programs to assist In the integration and Interchange of muRi-ethnic activities.
VICTOR PINZON, M.BA
Presiddu
98-1i81
P.O. Box SAF"7 - Wtami Florida 33152 - Phorw: 305-W2-OM - Fax 3055544=
39S_
42
Julius Brown
26 N.W. 9thStreet
Hallandale, F1. 33009
City of Miami
3503Pan American Dr.
Miami, F1. 33133
Dear Sir:
I, Mr Julius Brown, would like to be placed on the agenda for
your next Commissioner's Meeting in November
I am a Merchandise Vender and would like to discuss my concern
that the City of Miami has banded the sales of merchandise outside
of the Miami Arena. I would like to be informed of city and/or state
statues that prevent these sales.
In the past, other merchandise venders and I have had the opport-
unity to sell items but this practic was discontinued approximately
11 months ago. This has greatly affected my yearly earnings as
these sells were a large source of income for me.
Please inform me of the date of your next meeting. I can be contacted
by mail at the above address. Or you may contact me by phone at
(305) 454-7447.
A
r, Julius Brown
9 10S � HSU
45
THE GREAT MIAMI STOPOVER
MisnaMin n1mpopr innn
November 10, 1992
Mr. Cesar Odio
City Manager
3500 Pan American Dr.
Miami, FL 33133
Dear Mr. Odio:
I hereby request your authorization to attend the next City
Commission Meeting, December loth, 1992. The Best Western
Miami Airport Inn is housing a 300 member Marching Bank for
the Orange Bowl Parade. They would like to utilize the back
street of the hotel one hour on December 29th and again on
December 30th, 1992. The street is N.W. 42nd Ct., behind
the Miami Airport Inn Hotel. We would need a permit to close
it. Please contact me if you have any questions at (305)
871-2345 ext. 7038.
I appreciate your kind assistance.
cc: Lori Lute
Yours truly,
Olga Perez
Director of Sales
Best Western Miami Airport Inn
1550 N. W. LeJeune Road, Miami, FL 33126 . Phone: 305-871-2345 • Fax: 305-871-2811
ox947mFL9• Write: P.O.B51,Mai,3315
98-1181 Lls-r
December 10, 1992
: J a
C E N T E MN ;A L
1
1
City of Miami Commission
City of Miami
3500 Pan American Drive,
Miami, Florida
Dear Sirs,
Pursuant to our charter as the official coordinating committee
for the series of events that will celebrate Miami's Centennial in
1996, the following is a report of the Miami Anniversary Committee
(MAC) activities for 1992.
On July 28, 1992, MAC celebrated the City of Miami's
96th anniversary with a free festival at Bayside
Marketplace. The day long event included musical
entertainment by some of Miami's best known entertainers
and culminated with a fireworks show.
MAC created "The Centennial Blueprint Committee". An
action committee consisting of several sub -committees,
the blueprint committee has already made progress in
several areas including; Contacted a number of Cities
and States that have celebrated anniversaries to find out
how they have produced their celebrations, established
communications with over thirty major festivals and
events in our community to enlist their support for the
1995-96 year long celebration, and commenced work on a
history education committee to create a Miami history
curriculum for the Dade County Public Schools.
Barbara Brodbar, of the City of Miami City Clerks
Office has launched a campaign to obtain grants to fund
various MAC programs including; A full time Centennial
Coordinator to handle the ever increasing work load, and
the "Miami Minute" series of historical public service
announcements for television.
MIAMI CENTENNIAL
recors it
item -;�6 on
96 C i t V Ct�,,
9 1j��.
2211 N.W. 26 Ave. • Miami, Fla. 33142
(305) 635-8463 • Fax: (305) 635-5026
MIAMI
November 9, 1992
Cesar Odio
Office of the City Manager
City of Miami
3500 Pan American Drive
Miami, Florida 33133-0708
Re: Miami Anniversary Committee, Inc.
Dear Mr. Odio:
Would you please place on the City Commission's agenda for the
December 10, 1992, meeting a personal appearance on behalf of the
Miami Anniversary Committee of Hector Botero and myself. We wish
to make a brief presentation on the status of the committee's
efforts to organize the City's Centennial and answer any questions
the commissioners may have.
Thank you in advance for your consideration.
very truly yours,
t/ ,/J��
-
M. Blair Sibley
Executive Director
cc: Laurie Lutes
Barbara Brodbar
MIAMI ANNIVERSARY COMMITEE, INC.
98-H81
an-
66 W. Flagler Street, Suite 1100 • Miami, Fla. $3130
(305) 374-7180 • Fax (305) 372-8921
. The Community Development sub -committee is preparing a
promotion with South Florida Magazine to create the
Centennial Mascots. The use of the mascots will be
licensed to consumer product companies increasing the
centennial promotional effort while creating revenues for
other MAC programs.
. The State Government sub -committee has begun working on
an application to be filed with the State of Florida for
a centennial license plate. If permission from the state
is obtained, a contest will be held to design the license
plate.
. MAC is working wit
produce a historical
building in downtown.
created, permission from
obtained and some initial
design features 30 foot
founding fathers.
h historian
mural on
The art wo
the
spon
hig
Arva Parks -McCabe to
the old Miami Herald
rk and design have been
buildings owner has been
sors have been found. The
h renderings of Miami's
Su�rnit' ed into the public
reccru in co.r._1s inn z }h
��L on 1Z
rV� � 4t�
_.L , i
City Clerk
98-IISI