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OMNI CRA 2020-09-24 Agenda Packet
City of Miami 3500 Pan American Drive Miami,FL33133 www.miamigov.com Meeting Agenda Thursday, September 24, 2020 9:00 AM (OR THEREAFTER) Virtual Regular Meeting City Hall 3500 Pan American Drive Miami, FL 33133 OMNI Community Redevelopment Agency Alex Diaz de la Portilla, Chair, District One Joe Carollo, Vice Chair, District Three Ken Russell, Board Member, District Two Manolo Reyes, Board Member, District Four Keon Hardemon, Board Member, District Five ************************* OMNI CRA OFFICE ADDRESS: nd 1401 N. Miami Avenue, 2Floor, Miami 33136 Phone: (305) 679-6868 www.miamicra.com OMNI Community Redevelopment AgencyMeeting AgendaSeptember 24, 2020 CALL TO ORDER OMNI CRA RESOLUTION(S) 1.OMNI CRA RESOLUTION 7928 2.OMNI CRA RESOLUTION 7929 OMNI Community Redevelopment AgencyPage 2Printed on 9/22/2020 OMNI Community Redevelopment AgencyMeeting AgendaSeptember 24, 2020 3.OMNI CRA RESOLUTION 7930 4.OMNI CRA RESOLUTION 7931 OMNI Community Redevelopment AgencyPage 3Printed on 9/22/2020 OMNI Community Redevelopment AgencyMeeting AgendaSeptember 24, 2020 5.OMNI CRA RESOLUTION 7932 ADJOURNMENT OMNI Community Redevelopment AgencyPage 4Printed on 9/22/2020 1.1 INTER-OFFICE MEMORANDUM BACKGROUND: JUSTIFICATION: Packet Pg. 5 1.1 FUNDING: City of MiamiPage 2of 4File ID: 7928 (Revision: ) Printed On: 9/22/2020 Packet Pg. 6 1.1 City of Miami Legislation OMNI CRA Resolution File Number: 7928Final Action Date: City of MiamiPage 3of 4File ID: 7928 (Revision: ) Printed On: 9/22/2020 Packet Pg. 7 1.1 City of MiamiPage 4of 4File ID: 7928 (Revision: ) Printed On: 9/22/2020 Packet Pg. 8 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 9 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 10 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 11 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 12 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 13 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 14 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 15 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 16 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 17 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 18 1.1.a Attachment: 7928 Memo - Award Recommendation (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 19 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 20 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 21 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 22 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 23 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 24 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 25 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 26 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 27 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 28 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 29 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 30 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 31 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 32 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 33 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 34 1.1.b Quality Affordable Multifamily Communities Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 16 Packet Pg. 35 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Packet Pg. 36 17 1.1.b Uif!qsjodjqbmt!pg!Nbhfmmbo!Ipvtjoh!bsf!bnpoh!uif!nptu!sftqfdufe!boe!usvtufe!joevtusz! mfbefst!jo!uif!bdrvjtjujpo-!efwfmpqnfou-!nbslfujoh-!boe!nbobhfnfou!pg!bggpsebcmf!boe! xpslgpsdf!ipvtjoh!dpnnvojujft!jo!Ufybt!boe!Gmpsjeb/Pvs!jotujuvujpobm!qbsuofst!bsf! bnpoh!uif!mbshftu!boe!nptu!efejdbufe!jowftupst!jo!BnfsjdbÉt!dpnnvojujft/Nbhfmmbo! mfbet!fggpsut!up!jnqspwf!uif!ipvtjoh!joevtusz!uispvhi!mfbefstijq!spmft!xjui!mpdbm-!tubuf-! boe!obujpobm!joevtusz!pshboj{bujpot-!cpbset-!boe!bewpdbdz!spmft/ Nbhfmmbo!Ipvtjoh!ibt!efwfmpqfe!pwfs!2-611!nvmujgbnjmz!ipvtjoh!vojut!xjui!b!dptu!cbtjt!jo! fydftt!pg!%461-111-111/Nbhfmmbo!ibt!wbtu!fyqfsjfodf!jo!qbsuofsjoh!xjui!opu.gps.qspgjut-! dpnnvojuz!hspvqt-!boe!gbjui.cbtfe!hspvqt!up!nffu!boe!fydffe!dpnnvojuz!pckfdujwft! boe!cfofgjut.jodmvejoh!joopwbujwf!fevdbujpobm!pqqpsuvojujft-!kpc!dsfbujpo!qsphsbnt-!boe! fdpopnjd!efwfmpqnfou/Nbhfmmbo!qsjpsjuj{ft!jut!tpdjbm!spmf!boe!sftqpotjcjmjuz!jo!uif! dpnnvojujft!uibu!ju!foufst/Xf!bsf!dpnnjuufe!up!jodpsqpsbujoh!uif!mbuftu!fowjsponfoubm! hsffo!cvjmejoh!gfbuvsft-!sftupsjoh!boe!qsftfswjoh!ijtupsjd!tjuft-!dsfbujoh!bsu!jo!qvcmjd! qmbdft-!boe!nbjoubjojoh!uif!ijhiftu!tuboebset!jo!bsdijufduvsbm!eftjho-!efotjuz-!tdpqf!boe! tdbmf/ Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 18 Packet Pg. 37 1.1.b Dibqnbo!Dspttjoht!Ä25852!Dibqnbo!Xppet!Dspttjoh!.Ipvtupo-!Ufybt Dibqnbo!Dspttjoht!jt!b!213.voju!gbnjmz!qspkfdu!jo!OF!Ipvtupo!gjobodfe!uispvhi!b! dpncjobujpo!pg!:&!Ipvtjoh!Uby!Dsfejut!boe!efcu!gspn!Djujcbol-!Gsfeejf!Nbd!boe! Ibssjt!Dpvouz!Ipvtjoh!Gjobodf!Dpsqpsbujpo/!!Efmjwfsz!xjmm!cf!Efdfncfs!3129/ oe Uif!Kbtnjof!Ä211!TX!33Bwf/!ÄNjbnj-!Gmpsjeb Kbtnjof!jt!b!:7.voju!tfojps!mjwjoh!qspkfdu!jo!uif!ifbsu!pg!uif!Mjuumf!Ibwbob!ofjhicpsippe! pg!Njbnj/!!Uif!%43!njmmjpo-!9.tupsz!njesjtf!efwfmpqnfou!jt!gjobodfe!uispvhi!b! dpncjobujpo!pg!Ipvtjoh!Uby!Dsfejut!boe!Njbnj!Ebef!Dpvouz!Tvsuby/ Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 19 Packet Pg. 38 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 20 Packet Pg. 39 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 21 Packet Pg. 40 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 22 Packet Pg. 41 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 23 Packet Pg. 42 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 24 Packet Pg. 43 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 25 Packet Pg. 44 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 45 26 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Packet Pg. 46 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 28 Packet Pg. 47 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 29 Packet Pg. 48 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 30 Packet Pg. 49 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 50 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 51 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 52 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 53 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 54 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 55 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 56 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 57 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 58 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 59 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 60 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 61 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 62 43 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 63 44 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 64 45 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 65 46 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 66 47 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 67 48 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 68 49 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 69 50 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 70 51 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 71 52 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 72 53 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 73 54 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 55 Packet Pg. 74 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 75 56 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 57 Packet Pg. 76 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 58 Packet Pg. 77 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 59 Packet Pg. 78 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 60 Packet Pg. 79 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 61 Packet Pg. 80 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 62 Packet Pg. 81 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 63 Packet Pg. 82 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 64 Packet Pg. 83 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 65 Packet Pg. 84 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 66 Packet Pg. 85 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 86 67 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 87 68 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 88 69 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 89 70 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 90 71 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 91 72 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 92 73 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 93 74 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 94 75 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 95 76 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 96 77 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Packet Pg. 97 78 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 79 Packet Pg. 98 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 80 Packet Pg. 99 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 81 Packet Pg. 100 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 82 Packet Pg. 101 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 83 Packet Pg. 102 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 84 Packet Pg. 103 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 85 Packet Pg. 104 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 86 Packet Pg. 105 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 87 Packet Pg. 106 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 88 Packet Pg. 107 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 89 Packet Pg. 108 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 90 Packet Pg. 109 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 91 Packet Pg. 110 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 92 Packet Pg. 111 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 93 Packet Pg. 112 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 94 Packet Pg. 113 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 95 Packet Pg. 114 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 96 Packet Pg. 115 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 97 Packet Pg. 116 1.1.b Tab 8 Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 98 Packet Pg. 117 1.1.b Qvcmjd!Cfofgjut “HELPING OTHERSIS LIKE HELPING YOURSELF” Henry Flagler Housing in the City of Miami is increasingly unaffordable for its residents Wynwood Works will be anAffordable and Workforce Housing Community developed under the City of Miami’s Attainable Housing Ordinance. Every unit in the development will be set-aside as Affordable or Workforce Housing with apartmentsfor individuals and families transitioning out of homelessness to 140% Area Median Income (AMI). 61% of renters in the City of Miami are cost burdened or severely cost burdened. Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 99 Packet Pg. 118 1.1.b Wynwood Works This is our community benefits plan Creating a Livable Community Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 100 Packet Pg. 119 1.1.b Wynwood Works Wynwood Works Affordable and Workforce Housing ArtistHousing Payment to the City Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 101 Packet Pg. 120 1.1.b Job Variety and Growth Wynwood Works Wynwood Works Wynwood Works Wynwood Works Wynwood Works Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Economic Development 102 Packet Pg. 121 1.1.b Wynwood Works Wynwood Works Wynwood Works Density Wynwood Works Educational Opportunities Wynwood Works Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Walkable Attractive Streets Wynwood Works, 103 Packet Pg. 122 1.1.b Appropriate Architecture Wynwood Works Restore the Community Wynwood Works Wynwood Works Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 104 Packet Pg. 123 1.1.b ECONOMIC IMPACT STUDY Wynwood Works Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 105 Packet Pg. 124 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 106 Packet Pg. 125 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 107 Packet Pg. 126 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 108 Packet Pg. 127 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 109 Packet Pg. 128 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 110 Packet Pg. 129 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 111 Packet Pg. 130 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 112 Packet Pg. 131 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 113 Packet Pg. 132 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 114 Packet Pg. 133 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 115 Packet Pg. 134 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 116 Packet Pg. 135 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 117 Packet Pg. 136 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 118 Packet Pg. 137 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 119 Packet Pg. 138 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 120 Packet Pg. 139 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Packet Pg. 140 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Packet Pg. 141 122 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 123 Packet Pg. 142 1.1.b EXHIBITA TERMSHEET MultifamilyRentalDevelopmentswithRentRestrictions NewConstructionand/orSubstantialRehabilitationand/orTermMortgages CITIConstructiontoPermanentLoan–Non-LIHTCForwardProduct WynwoodWorks August12,2019 NOTE:ThisTermSheetconstitutesabriefsummaryofcertain,butnotall,transactiontermsandconditionsfor discussionpurposesonly.Thesummarythatfollowsissubjecttocreditapprovalanddoesnotconstituteanofferor commitment. InconnectionwiththisTermSheet,CITIwillbeactingsolelyasaprincipalandnotasyouragent,advisoror fiduciary.CITIhasnotassumedafiduciaryresponsibilitywithrespecttothisTermSheet,andnothingin thistransactionorinanypriorrelationshipbetweenyouandCITIwillbedeemedtocreateanadvisory, fiduciaryoragencyrelationshipbetweenusinrespectofthisTermSheet.Youshouldconsidercarefully whetheryouwouldliketoengageanindependentadvisortorepresentorotherwiseadviseyouinconnection withthisTermSheet,ifyouhavenotalreadydoneso. ThisTermSheetisanintegralpartof,andestablishesterms,conditionsandrequirementsof,theletterdatedAugust 12,2019towhichitisannexed. PRELIMINARYLOANTERMS Transaction Summary:Citibank,N.A.(“CITI”)proposestoarrangeaconstruction/permanentloan(“Loan”)to theBorrower(definedbelow)inconnectionwiththeacquisitionandconstructionofthe Propertydescribedbelow. Property:Ato-be-constructedmultifamilypropertycontainingatotalof104units,locatedin Miami,FL.Thepropertyiscommonlyreferredtoas“WynwoodWorks.”(“Property”) Set-Asides:10%oftheunits(11units)arereservedforindividualsorfamilieswhoseincomeisno greaterthan30%ofAreaMedianIncome(“AMI”);10%oftheunits(11units)are reservedforindividualsorfamilieswhoseincomeisnogreaterthan50%ofAreaMedian Income(“AMI”);10%oftheunits(10units)arereservedforindividualsorfamilies whoseincomeisnogreaterthan80%ofAreaMedianIncome(“AMI”);25%oftheunits (26units)arereservedforindividualsorfamilieswhoseincomeisnogreaterthan120% ofAreaMedianIncome(“AMI”);and45%oftheunits(46units)arereservedfor individualsorfamilieswhoseincomeisnogreaterthan140%ofAreaMedianIncome (“AMI Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Applicant:MagellanHousing,LLC Borrower:AsingleassetentitywhosemanagerorgeneralpartneristheApplicantoranaffiliateof Applicant.Borrowerentity,itsconstituententitiesanditsoperatingagreementmustbe acceptabletoCITIinallrespects. 124 Packet Pg. 143 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page2 LIHTCInvestor/ Syndicator:N/A Guarantor(s):MagellanHousing,LLC,NickInamdar,AmayInamdarand/orotherindividual(s)or corporateentityacceptabletoCITIinallrespects.TheGuarantor(s)’financial condition(s)mustbeacceptabletoCITIinallrespects. SubordinateDebt:Ifapplicable,thesourcesofsubordinatedebtandthesubordinateloandocumentsmust beacceptabletoCITIinallrespects.AllsubordinatedebtmustfundpriortoLoan fundingunlessCITIapprovesotherarrangements.SubordinateDebtwillbesubjectto CITI’sSubordinationAgreement,whichinadditiontootherprovisions,requiresthat SubordinateDebtonlybepaidfrom75%ofavailablecashflow. LoanSecurity:Firstlienonlandandanyimprovements,UCCfilingsforfixtures;assignmentofall leasesandrents;and,afirstprioritycollateralassignmentofallcontracts,management agreements,andotheragreementsandallpermitsrelatingtotheProperty.Ground leases,ifapplicable,mustbesubordinatetoCITI’slienpositionunlessthefeeis ownedbyagovernmentagencytoensurelong-termaffordability.Allincomeandrent restrictionswillbesubordinatetotheCITIsecurityinstrument. ConstructionPhase RecourseGuarantees:PriortoConversionoftheLoantothePermanentPhase(describedbelow)andduringthe ConstructionPhase(describedbelow),theLoanwillbefullyrecoursetotheBorrower andtotheGuarantor(s)andCompletionandRepaymentGuaranteesarerequiredfromthe BorrowerandtheGuarantor(s). Guarantees, PermanentPhase:None,exceptforindustrystandardcarveouts(“CarveOuts”).CarveOutsinclude guaranteesagainstfraud,misrepresentation,bankruptcyandenvironmentalissues. Environmental Indemnity:BorrowerandGuarantor(s)willbeliableforCITI’sstandardenvironmentalindemnity. Closing:ClosingissubjecttofullsatisfactionofCITI’sstandardduediligence,underwritingand creditapprovalprocesses,andtheexecutionanddeliveryofallrequiredloan documents,deliveryofopinions,paymentoffeesandothercustomaryrequirements. ClosingDate(est.):Tobedetermined. CONSTRUCTIONPHASE ConstructionPhase LoanAmount:Anamount,currentlyestimatedtobe$20,000,000,butinanyevent,anamountnotto exceed80%ofcostsbudgetedfortheConstructionPhase. Term:24months,plustwo6-monthextension(s).Feesfortheextension(s)areindicatedbelow under“Fees&Expenses.” Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) ConstructionPhase InterestRate:VariablerateequaltoonemonthLIBOR(whichshallhaveafloorof0.00%)plusa spreadof2.50%(“ConstructionPhaseInterestRate”).Rateadjustsmonthly.Currently, onemonthLIBORistradingatapproximately2.21%,foranall-inrateof4.71%.Pricing isbasedoncurrentmarketconditionsandissubjecttochange. 125 Packet Pg. 144 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page3 InterestCalculation:Act/360 Availability:LoanproceedswillbeadvancedtoBorrowerona“drawdown”basisuponreceiptofa writtenrequestfromBorrower,supportedbydocumentationacceptabletoCITI. Borrowerwillberequiredtosubmitaloanbudgetworksheetwitheachdrawrequest trackingallPropertysourcesandusesoffunds.Drawrequestslimitedtoonepermonth. LoaninBalance:TheLoanmustremain“inbalance”duringtheConstructionPhase.“Inbalance”means that(1)thefundsavailableduringtheConstructionPhase(fromtheLoanandallother debtandequitysources)aresufficienttocompletetheconstructionorrehabilitationof thePropertyandallotherexpensesreasonablyexpectedtobenecessarytoachievethe conditionsforconversionoftheLoantothePermanentPhase;and(2)thesources availableatConversionaresufficienttopaydowntheConstructionPhaseLoanAmount tothePermanentPhaseLoanAmount,alongwithanyotherfundingrequirementsfor Conversion. Amortization:None.PaymentsontheLoanduringtheConstructionPhasewillbeinterestonly. Prepaymentand YieldMaintenance:VoluntaryprepaymentofLoanprincipalamountsduringtheConstructionPhase, includingthoseasaresultofaBorrowerdefault,maybemadewithoutprepayment premiumunlesstheConstructionPhaseLoanAmountisreducedtolessthanthe PermanentPhaseLoanAmount(asdefinedbelow). IftheprepaymentreducestheLoanamounttoanamountlessthanthePermanent PhaseLoanAmount,theBorrowershallpaythegreaterof:(i)1%oftheamountofthe Loanprepaidbelow100%ofthePermanentPhaseLoanAmount;or(ii)CITI’s standardyieldmaintenanceamountontheamountoftheLoanprepaidbelow100%of thePermanentPhaseLoanAmount. IntheeventthataLoanprepaymentresultingfromaLoanresizing,asdeterminedby CITIinitssolediscretion,reducestheLoanamounttoanamountlessthanthe PermanentPhaseLoanAmount,theBorrowershallpaythegreaterof:(i)1%ofthe amountoftheLoanprepaidbelow90%ofthePermanentPhaseLoanAmount;and(ii) CITI’sstandardyieldmaintenanceamountontheamountoftheLoanprepaidbelow 90%ofthePermanentPhaseLoanAmount. Notwithstandinganyoftheabove,intheeventtheamountofsuchprepaymentwould causetheLoanamounttofallbelow50%ofthePermanentPhaseLoanAmount,the BorrowershallberequiredtorepaytheLoaninfullplusthegreaterof:(i)1%ofthe amountoftheLoanrepaidbelow90%ofthePermanentPhaseLoanAmount;and(ii) CITI’sstandardyieldmaintenanceamountontheamountoftheLoanrepaidbelow 90%ofthePermanentPhaseLoanAmount. IfBorrowerprepaysLoanprincipalamountsthroughtheapplicationofinsurance proceedsoracondemnationaward,noprepaymentpremiumshallbepayabletoCITI. Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) InterestReserve:CalculatedattheConstructionPhaseInterestRatenotedabove,plusacushionacceptable toCITIattimeoffinalCreditapproval.Currently,CITIisunderwritingwithacushion of1.00%.TheInterestReservewillbesizedbasedonananalysisoftheprojecteddraw schedulefortheLoanfromclosingontheConstructionPhasefinancingthrough Conversion. 126 Packet Pg. 145 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page4 Budgetand Contingencies:ThebudgetfortheConstructionPhase,includingallbudgetlineitems,issubjectto CITIapproval.Thebudgetshallincludeahardcostcontingencyofnolessthan5%of budgetedhardcostsfornewconstructionprojectsandnolessthan10%ofbudgeted hardcostsforrehabilitationprojects.Thebudgetshallincludeasoftcostcontingency ofnolessthan5%ofbudgetedsoftcosts,excluding1)softcostsincurredpriortoorin connectionwithclosing;2)interestreserveandbankfees;3)capitalizedoperating reservedepositsandothercoststhatmaybedueinconnectionwithConversionfor whichspecificsourcesareidentified;and4)developerfees. GeneralContractorand BondingRequirements:ThegeneralcontractorandtheconstructioncontractmustbeacceptabletoCITI.CITI willrequirepaymentandperformancebondsequalto100%oftheconstructioncontract amount.SuretyissuingbondsmusthaveanA.M.Bestratingof“A/VIII”orbetterand mustbeacceptabletoCITIinallotherrespects.Inlieuofbonds,CITIwillacceptaletter ofcredit(“LC”)equalto10%ofthehardcostbudget.LCprovidermustberated“BBB” orbetter. Retainage:Constructioncontractwillprovideforaminimumretainageof10%ofeachconstruction payapplicationuntil“substantialcompletion”(asdefinedintheLoandocuments). Retainagepercentageamountscanberevised,uponreviewandapprovalbyCITI,at CITI’ssolediscretion,butonlydowntoaminimumof10%until50%completionand then0%retentionwithheldthereafter.Noreleaseofretainageispermittedforachieving 50%completion.Allretainedamountswillbereleaseduponfinal,lien-freecompletion ofconstruction,asapprovedbyCITI. PERMANENTPHASE PermanentPhase LoanAmount:TheestimatedPermanentPhaseLoanAmountiscurrentlyestimatedtobeinthe maximumamountof$20,000,000orsuchotherloanamountsupportedbyCITI’s underwritingofthePropertyatthetimeofConversioninaccordancewithCITI’s underwritingrequirementsincludingthoselistedbelow. Term/Amortization:15/35years. YieldMaintenance Period:FromClosinguntil6monthspriortotheendofthePermanentPhase. PermanentPhase InterestRate:Fixedrateequalto5.25%. InterestCalculation:Act/360 Conversionto PermanentPhase Requirements:Conversionrequirementsincludecompletionofconstructionand90%physical occupancyofProjectforthreeconsecutivecalendarmonths.CITIwillreviewthe Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) Property’snetoperatingincometodeterminethemaximumPermanentPhaseLoan AmountbasedontheDebtServiceCoverageandLoan-to-Valuenotedbelow.For purposesofthisTermSheet,theterm“ConstructionPhase”meanstheperiodfromthe ClosingDatethroughthedaypriortotheConversionDateandtheterm“Permanent 127 Packet Pg. 146 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page5 Phase”meanstheperiodfromtheConversionDate(inclusive)throughthematurity date(orearliertermination)oftheProject’spermanentfinancing. DebtServiceCoverage:Aminimumof1.15to1.00. Loan-to-Value:90%ofmarketvalue,basedonrestrictedrentsandinclusiveofvalueofpermanentbelow marketfinancing(ifapplicable),assumingprojectrentson80%ormoreoftheunitsare discountedtoalevelatleast10%belowmarket.Otherwise,85%. ReplacementReserve:UponConversion,BorrowerwillberequiredtofundaReplacementReserveforeachof thefirstfiveyearsfollowingConversioninaminimumamountof$300/unit/year.For eachsuccessivefiveyearperiodthereafteruntilPermanentLoanmaturity,the ReplacementReservelevelwillbedeterminedbyanewPhysicalNeedsAssessment acceptabletoCITI. TaxesandInsurance:CommencinguponConversion,realestatetaxesandinsurancepremiumsmustbe escrowedwiththeLoanservicer(“Servicer”)onamonthlyproratedbasisinanamount sufficienttoenabletheServicertopay(atleast30daysbeforedue)alltaxes, assessments,insurancepremiumsorothersimilarchargesaffectingtheProperty. OTHER Appraisal,Environmental, Plan/CostReviews:AppraisalandPlan/CostReviewreportswillbecommissionedandreviewedbyCITI. CITImayrelyuponenvironmentalreportscommissionedbyBorrowerifreportiscurrent (within12months)andCITIhasbeenprovidedevidenceofacceptableE&Oinsurance coveragecarriedbyBorrower’senvironmentalconsultantandarelianceletterinform acceptabletoCITI.Appraisal,environmentalconditionandplan/costreviewsmustbe acceptabletoCITIinallrespects. PropertyTax Abatements,Incentives:Alldocumentationrelatedtoanytaxabatementortaxincentivesmustbeacceptableto CITIinallrespects. DeveloperFee:AnydeveloperfeepaidpriortoconversiontothePermanentPhaseshallbepre-approved byCITIinitssolediscretion. FEES&EXPENSES ApplicationFee:$25,000,whichamountshallbenon-refundable(exceptassetforthinthe“Exclusivity” sectionofthePreliminaryApplication,ifapplicable)anddueandpayableupon acceptanceofaPreliminaryApplication.Thisfeeisapplicabletowardthirdparty reports,loanunderwritingandprocessing(intheminimumamountof$5,000),and CITI’sinitiallegalfees.Applicantisresponsibleforthepaymentofallreasonablecosts incurredinconnectionwiththeunderwriting,processingand/orclosingoftheLoan (includingCITIlegalfees). OriginationFee:Anon-refundableOriginationFeeequalto1.00%oftheConstructionPhaseLoan Amountand1.00%ofthePermanentPhaseLoanAmount(“OriginationFee”)shallbe Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) earnedinfullbyCITIupontheclosingoftheLoan,andisdueandpayableatthattime. CITILegalFees(est):EstimatedfeesofCITI’scounselfortheinitialclosingaretobedeterminedandassumes nosignificantnegotiationoverCITI’sformdocuments.AportionoftheApplicationFee willbeappliedtoinitialCITIcounselfees.Applicantagreestomakeasupplemental 128 Packet Pg. 147 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page6 deposittocoverCITI’scounselfeesoncethedraftingoflegaldocumentation commences,ifrequested. FeesofCITI’scounselforworkassociatedwithConversionoftheLoantothe PermanentPhasearetobedetermined. CourseofConstruction Inspections(est):Tobedetermined. ConstructionTerm ExtensionFee:0.25%oftheConstructionPhaseLoanAmountforthefirstextensionand0.50%ofthe ConstructionPhaseLoanAmountforthesecondextension. ConversionFee andExpenses:AConversionfeeequalto$10,000willbechargedbyCITI.Otherexpenses,including insurancereview,siteinspectionandloanservicerset-upfeesareestimatedtobe$5,000. OtherCosts:Applicantisresponsibleforcostsofsurvey,titleinsurancepolicy,hazardinsurance policy,taxescrowfeeandallothernormalandcustomaryloanclosingexpenses. TermSheet ExpirationDate:Fifteen(15)daysafterthedatehereof,unlessattachedtoaPreliminaryApplicationletter. Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 129 Packet Pg. 148 1.1.b TermSheet-CITIConstructiontoPermanentLoan–Non-LIHTCProduct WynwoodWorks(Miami,Florida) August12,2019 Page7 TheprovisionofinformationinthisTermSheetisnotbasedonyourindividualcircumstancesandshouldnotbe relieduponasanassessmentofsuitabilityforyouofaparticularproductortransaction.EvenifCITIpossesses informationastoyourobjectivesinrelationtoanytransaction,seriesoftransactionsortradingstrategy,thiswillnot bedeemedsufficientforanyassessmentofsuitabilityforyouofanytransaction,seriesoftransactionsortrading strategy. ThisTermSheetisprovidedforinformationpurposesandisintendedforyouruseonly.Exceptinthose jurisdictionswhereitisimpermissibletomakesuchastatement,CITIherebyinformsyouthatthisTermSheet shouldnotbeconsideredasasolicitationoroffertosellorpurchaseanysecuritiesorotherfinancialproducts.This TermSheetdoesnotconstituteinvestmentadviceanddoesnotpurporttoidentifyallrisksormaterialconsiderations whichshouldbeconsideredwhenundertakingatransaction.CITImakesnorecommendationastothesuitabilityof anyoftheproductsortransactionsmentioned.Anytradingorinvestmentdecisionsyoutakeareinrelianceonyour ownanalysisandjudgmentand/orthatofyouradvisorsandnotinrelianceonus. CITIoftenactsas(i)amarketmaker;(ii)anissueroffinancialinstrumentsandotherproducts;and(iii)tradesas principalinmanydifferentfinancialinstrumentsandotherproducts,andcanbeexpectedtoperformorseekto performinvestmentbankingandotherservicesfortheissuerofsuchfinancialinstrumentsorotherproducts.The authorofthisTermSheetmayhavediscussedtheinformationcontainedhereinwithotherswithinoroutsideCITI andtheauthorand/orsuchotherCitipersonnelmayhavealreadyactedonthebasisofthisinformation(includingby tradingforCITI'sproprietaryaccountsorcommunicatingtheinformationcontainedhereintoothercustomersof CITI).CITI,CITI'spersonnel(includingthosewithwhomtheauthormayhaveconsultedinthepreparationofthis TermSheet),andothercustomersofCITImaybelongorshortthefinancialinstrumentsorotherproductsreferred tointhisTermSheet,mayhaveacquiredsuchpositionsatpricesandmarketconditionsthatarenolongeravailable, andmayhaveinterestsdifferentfromoradversetoyourinterests. CITIisrequiredtoobtain,verifyandrecordcertaininformationthatidentifieseachentitythatentersintoaformal businessrelationshipwithCITI.CITIwillaskforyourcompletename,streetaddress,andtaxpayerIDnumber. CITImayalsorequestcorporateformationdocuments,orotherformsofidentification,toverifyinformation provided. AlthoughCitibank,N.A.(togetherwithitssubsidiariesandbranchesworldwide,"Citibank")isanaffiliateofCITI, youshouldbeawarethatnoneofthefinancialinstrumentsorotherproductsmentionedinthistermsheet(unless expresslystatedotherwise)are(i)insuredbytheFederalDepositInsuranceCorporationoranyothergovernmental authority,or(ii)depositsorotherobligationsof,orguaranteedby,Citibankoranyotherinsureddepository institution. IRSCircular230Disclosure:CITIanditsemployeesarenotinthebusinessofproviding,anddonotprovide,tax orlegaladvicetoanytaxpayeroutsideofCITI.Anystatementsinthistermsheetregardingtaxmatterswerenot intendedorwrittentobeused,andcannotbeusedorreliedupon,byanytaxpayerforthepurposeofavoidingtax penalties.Anysuchtaxpayershouldseekadvicebasedonthetaxpayer’sparticularcircumstancesfroman independenttaxadvisor. ©2019CitigroupGlobalMarketsInc.MemberSIPC.Allrightsreserved.CitiandArcDesignaretrademarksandservicemarksofCitigroupInc. oritsaffiliatesandareusedandregisteredthroughouttheworld. Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 130 Packet Pg. 149 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 131 Packet Pg. 150 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 132 Packet Pg. 151 1.1.b Nikul A. Inamdar Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 133 Packet Pg. 152 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 134 Packet Pg. 153 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 135 Packet Pg. 154 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 136 Packet Pg. 155 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 137 Packet Pg. 156 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 138 Packet Pg. 157 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 139 Packet Pg. 158 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 140 Packet Pg. 159 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 141 Packet Pg. 160 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 142 Packet Pg. 161 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 143 Packet Pg. 162 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 144 Packet Pg. 163 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 145 Packet Pg. 164 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 146 Packet Pg. 165 1.1.b Attachment: 7928 Bid Response (7928 : 2043 North Miami Avenue Affordable Housing RFP 992381 Award) 147 Packet Pg. 166 1.1.c Attachment: 7928 Wynwood Works Budget (7928 : 2043 North Miami Avenue Affordable Housing RFP Packet Pg. 167 1.1.c Attachment: 7928 Wynwood Works Budget (7928 : 2043 North Miami Avenue Affordable Housing RFP Packet Pg. 168 1.2 INTER-OFFICE MEMORANDUM BACKGROUND: Packet Pg. 169 1.2 JUSTIFICATION: RECOMMENDATION: City of MiamiPage 2of 4File ID: 7929 (Revision: ) Printed On: 9/22/2020 Packet Pg. 170 1.2 City of Miami Legislation OMNI CRA Resolution File Number: 7929Final Action Date: City of MiamiPage 3of 4File ID: 7929 (Revision: ) Printed On: 9/22/2020 Packet Pg. 171 1.2 City of MiamiPage 4of 4File ID: 7929 (Revision: ) Printed On: 9/22/2020 Packet Pg. 172 1.2.a Via Hand-Delivery Re:Wynwood Haus-Tax Increment Rebate & Grant Proposal Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) Packet Pg. 173 1.2.a Wynwood Haus CRA Proposal Wynwood Haus - CRA Proposal September 16, 2020 Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 1 Packet Pg. 174 1.2.a Wynwood Haus CRA Proposal PROJECT OVERVIEW TSG Group and Lineaire Group for consideration The Property is located on NE 17th Terrace and North Miami Avenue and consists of a boutique 20-story, 224-unit for-rent development with over 5,200 SF of ground floor amenity retail. Designed by local firm Corwil Architects and curated by world renowned landscape designer Enzo Enea, Wynwood Haus caters to younger generations and families attracted to the amenities and lifestyle the Arts & Entertainment and Wynwood neighborhoods offer. The Property features Studio (19%), One- Bedroom (56%), and Two-Bedroom (25%) units with world-class amenities, including a rooftop pool, lounge, and gym with stunning views of the Brickell skyline, the Miami Signature Bridge, Downtown, and the Miami Bay. location between the Arts & Entertainment District, Wynwood, and Downtown, and within walking distance of the Metromover rail route offers an abundance of lifestyle and entertainment options and easy access to the broader Miami metro. The Developers have already obtained Site Plan Approval from the City and are looking to break ground in 202. ALIGNMENT WITH CRA VISION mission, the development will achieve the following goals: (1)Enhance the quality of life of current neighborhood residents: The entire west face of the building along North Miami Avenue will be dedicated to ground floor amenity retail space for the neighborhood. The design includes 4 retail spaces totaling 5,200+ SF (over 20% of the total ground floor footprint) with local tenants that will be carefully curated to complement the current neighborhood offerings. The Developers have assembled a world-class team of best-in-their-field experts for the architecture, design, and landscaping and have conceptualized a building that not only complements the surrounding developments, but is also aesthetically innovative and elevates the neighborhood. All common areas, including public areas such as lobby and exteriors have been meticulously designed (please refer to attached renderings). As part of the project, the Developers will also be making a direct investment of over $500,000 in ground level landscaping, sidewalk, and road improvements for the direct benefit of the neighborhood. (2)Activate the surrounding area: The development will add 224 for-rent units to a previously vacant and underimproved section of the neighborhood, thereby energy and density. Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) The ground floor landscaping designed by Italian/Swiss architect Enzo Enea, who was inspired by the beautiful native trees and landscaping of the adjacent Miami Historic Cemetery, will revitalize the 2 Packet Pg. 175 1.2.a Wynwood Haus CRA Proposal immediate area and serve as a bridge to connect the Arts & Entertainment and Wynwood neighborhoods two neighborhoods that have previously not been connected for leisure pedestrian traffic (please refer to attached ground floor landscaping plans and elevations). ΛЌΜ Encourage the creation of housing attainable to all: As part of their commitment to the neighborhood for workforce tenants, the Developers are offering to restrict the maximum rents it will charge on 100 units (45% of the total unit count) as follows: -100% of AMI for 31 units (14% of total unit count) -120% of AMI for 44 units (20% of total unit count) -140% of AMI for 25 units (11% of total unit count) These rent-restricted units will be -bedroom units, and 2- bedroom units, as detailed in the below table: As market rents in the neighborhood continue to rise at a faster rate than for the broader Miami market (as they are expected to, given the exponential growth of the area), these rent-restricted units will remain accessible and available for workforce tenants. The Developers are proposing to maintain these rent-restricted units through 2047 plus any additional extensions of the CRA. OTHER IMPORTANT PROJECT CONSIDERATIONS In addition to the above description regarding the Project, it is important to note the following: The Property is as of right under T6-24A. The Developers did not seek to leverage additional benefits from City by up-zoning to T6-24B, as several other projects in the neighborhood have done. Project was unanimously approved by every member of the UDRB board (7- 0) with no design comments or required revisions. Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) The Developers are looking to break ground 202, thereby looking to create jobs andfoster growth during a period of economic uncertainty / projected recession as a result of theCOVID-19 pandemic crisis, helping to offset its potential impact on the neighborhood. 3 Packet Pg. 176 1.2.a Wynwood Haus CRA Proposal CRA PROPOSAL In order to be able to carry out the proposed Project, the Developers are seeking the financial support of the CRA. Total impact fees, permitting fees, and streetscape/sidewalk improvements including the ground floor landscaping designed by Enzo Enea are projected to cost over $3.8M. In addition, the above-mentioned rent restrictions represent a present value in loss of income of $8.3M. In exchange, and to partially help offset the loss in income, the Developers are requesting: (1)A rebate of 95% of the TIF collected by the CRA during its anticipated term through 2047 plus any additional extensions of the CRA. This benefit represents a present value of $6,387,662. See TIF Analysis Report prepared by Larry M. Spring, Jr., CPA attached hereto as Exhibit A. (2)A cash grant of $1.1M ($4,911 / unit) paid out in equal quarterly installments over 3 years ($91,666.66 per quarter for 12 quarters). The Developers are also offering to give back to the CRA .0% of all retail gross rent proceeds that the Developer collects from the Propertys ground-floor retail during the initial 15 year period after completion of the development. BACKGROUND ON DEVELOPERS Founded in 2008, TSG is a real estate investment and development firm focused on understanding goal is to create experiences that will help them grow. TSG Group development portfolio includes Ofizzina, a Class A office condo building in Coral Gables; Cassa Brickell, an 80-unit boutique condo building, and Cassa at Georgetown townhome community near Fort Lauderdale. Additionally, TSG Gr strategically located areas of Miami, including the Design District, the Miami River, Brickell, Edgewater and the Health District. Through its strategic partner Black Salmon, the group acquires real estate opportunities in main markets of the United States and transforms the assets into profitable, risk- portfolio of assets to maximize the operational efficiency and profitability of each asset. Lineaire Group was founded with the goal of combining an institutional investment approach with disciplined risk management, and a cutting-edge architectural design and project management team. This unique combination allows the company to turn complex, often overlooked projects into high- performing assets, and to deliver investors superior risk-adjusted returns. The group focuses on value- add/repositioning opportunities and development opportunities. Recent acquisitions include 316 E 55th St. multifamily building in New York, 10 New River in Fort Lauderdale, and a portfolio of historic residential condominiums in Miami Beach. Lineaire Group also operates alongside its sister company, Lineaire Designs, which serves as an in-house design and construction division. In the last three years alone, Lineaire Designs has successfully completed 300+ apartment projects in buildings in the South Florida luxury market, including Aria on the Bay and Marquis Residences, among others. In addition to more accurate underwriting, having a team of experts across industries servicing a project from Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) inception to completion ensures streamlined execution. 4 Packet Pg. 177 1.2.a Wynwood Haus CRA Proposal EXTERIOR DESIGN RENDERINGS Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) źĻǞ ŅƩƚƒ ƭƚǒƷŷǞĻƭƷ ĭƚƩƓĻƩ 5 Packet Pg. 178 1.2.a Wynwood Haus CRA Proposal źĻǞ ŅƩƚƒ ƓƚƩƷŷ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic 6 Packet Pg. 179 1.2.a Wynwood Haus CRA Proposal INTERIOR DESIGN RENDERINGS wĻƭźķĻƓƷźğƌ \[ƚĬĬǤ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) ĻƓğƓƷ ƒğźƌƩƚƚƒ 7 Packet Pg. 180 1.2.a Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 8 Packet Pg. 181 1.2.a Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 9 Packet Pg. 182 1.2.a Wynwood Haus CRA Proposal GROUND FLOOR LANDSCAPING DƩƚǒƓķ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓ ǝźĻǞ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic 10 Packet Pg. 183 1.2.a Wynwood Haus CRA Proposal {ƚǒƷŷ ĻƌĻǝğƷźƚƓ ĻƭƷ ĻƌĻǝğƷźƚƓ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 11 Packet Pg. 184 1.2.a Wynwood Haus CRA Proposal DƩƚǒƓķ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓƷ ƭƦĻĭźĻƭ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 12 Packet Pg. 185 1.2.a Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓ ǝźĻǞ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic 13 Packet Pg. 186 1.2.a Wynwood Haus CRA Proposal SAMPLE UNIT RENDERINGS {ğƒƦƌĻ ЋΏĬĻķƩƚƚƒ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) {ğƒƦƌĻ ЊΏĬĻķƩƚƚƒ 14 Packet Pg. 187 1.2.a Wynwood Haus CRA Proposal {ğƒƦƌĻ ƭƷǒķźƚ Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Incentive Agreement) 15 Packet Pg. 188 1.2.a EXHIBIT "A" Attachment: 7929 Wynwood Haus-Cover Letter and Final CRA Proposal (7929 : Wynwood Haus Economic Packet Pg. 189 1.3 INTER-OFFICE MEMORANDUM BACKGROUND: JUSTIFICATION: Packet Pg. 190 1.3 RECOMMENDATION: FUNDING: City of MiamiPage 2of 4File ID: 7930 (Revision: ) Printed On: 9/22/2020 Packet Pg. 191 1.3 City of Miami Legislation OMNI CRA Resolution File Number: 7930Final Action Date: City of MiamiPage 3of 4File ID: 7930 (Revision: ) Printed On: 9/22/2020 Packet Pg. 192 1.3 City of MiamiPage 4of 4File ID: 7930 (Revision: ) Printed On: 9/22/2020 Packet Pg. 193 1.3.a Attachment: 7930 Bid Waiver Memo-Grant Agreement (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) Packet Pg. 194 1.3.a Attachment: 7930 Bid Waiver Memo-Grant Agreement (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) Packet Pg. 195 1.3.b OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY NOTICE OF PUBLIC HEARING Wynwood Haus, LLC, the development of a mixed use project consisting of affordable housing units in the Omni CRA. For your information, members of the public can leave prerecorded public comment by calling 305-679-6866 for agenda items that are scheduled to be heard at this virtual meeting. The prerecorded public comment will be played during the virtual meeting. The deadline to submit prerecorded phone comment is September rd 23, 2020 by 5:00 p.m. Phone messages submitted after the deadline may not be played during the virtual meeting. Finally, public comment may also be submitted via an online comment form and will bedistributed to the Elected Officials and CRA Administration and made part of the public record via the following link: .The deadline to submit public comment via the online comment form will occur when the Chairman closes public comment for the virtual meeting. Attachment: 7930 Notice to the Public (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) Packet Pg. 196 1.3.b Attachment: 7930 Notice to the Public (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) Packet Pg. 197 1.3.c Via Hand-Delivery Re:Wynwood Haus-Tax Increment Rebate & Grant Proposal Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) Packet Pg. 198 1.3.c Wynwood Haus CRA Proposal Wynwood Haus - CRA Proposal September 16, 2020 Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 1 Packet Pg. 199 1.3.c Wynwood Haus CRA Proposal PROJECT OVERVIEW TSG Group and Lineaire Group for consideration The Property is located on NE 17th Terrace and North Miami Avenue and consists of a boutique 20-story, 224-unit for-rent development with over 5,200 SF of ground floor amenity retail. Designed by local firm Corwil Architects and curated by world renowned landscape designer Enzo Enea, Wynwood Haus caters to younger generations and families attracted to the amenities and lifestyle the Arts & Entertainment and Wynwood neighborhoods offer. The Property features Studio (19%), One- Bedroom (56%), and Two-Bedroom (25%) units with world-class amenities, including a rooftop pool, lounge, and gym with stunning views of the Brickell skyline, the Miami Signature Bridge, Downtown, and the Miami Bay. location between the Arts & Entertainment District, Wynwood, and Downtown, and within walking distance of the Metromover rail route offers an abundance of lifestyle and entertainment options and easy access to the broader Miami metro. The Developers have already obtained Site Plan Approval from the City and are looking to break ground in 202. ALIGNMENT WITH CRA VISION mission, the development will achieve the following goals: (1)Enhance the quality of life of current neighborhood residents: The entire west face of the building along North Miami Avenue will be dedicated to ground floor amenity retail space for the neighborhood. The design includes 4 retail spaces totaling 5,200+ SF (over 20% of the total ground floor footprint) with local tenants that will be carefully curated to complement the current neighborhood offerings. The Developers have assembled a world-class team of best-in-their-field experts for the architecture, design, and landscaping and have conceptualized a building that not only complements the surrounding developments, but is also aesthetically innovative and elevates the neighborhood. All common areas, including public areas such as lobby and exteriors have been meticulously designed (please refer to attached renderings). As part of the project, the Developers will also be making a direct investment of over $500,000 in ground level landscaping, sidewalk, and road improvements for the direct benefit of the neighborhood. (2)Activate the surrounding area: The development will add 224 for-rent units to a previously vacant and underimproved section of the neighborhood, thereby energy and density. The ground floor landscaping designed by Italian/Swiss architect Enzo Enea, who was inspired by the Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) beautiful native trees and landscaping of the adjacent Miami Historic Cemetery, will revitalize the 2 Packet Pg. 200 1.3.c Wynwood Haus CRA Proposal immediate area and serve as a bridge to connect the Arts & Entertainment and Wynwood neighborhoods two neighborhoods that have previously not been connected for leisure pedestrian traffic (please refer to attached ground floor landscaping plans and elevations). ΛЌΜ Encourage the creation of housing attainable to all: As part of their commitment to the neighborhood for workforce tenants, the Developers are offering to restrict the maximum rents it will charge on 100 units (45% of the total unit count) as follows: -100% of AMI for 31 units (14% of total unit count) -120% of AMI for 44 units (20% of total unit count) -140% of AMI for 25 units (11% of total unit count) These rent-restricted units will be -bedroom units, and 2- bedroom units, as detailed in the below table: As market rents in the neighborhood continue to rise at a faster rate than for the broader Miami market (as they are expected to, given the exponential growth of the area), these rent-restricted units will remain accessible and available for workforce tenants. The Developers are proposing to maintain these rent-restricted units through 2047 plus any additional extensions of the CRA. OTHER IMPORTANT PROJECT CONSIDERATIONS In addition to the above description regarding the Project, it is important to note the following: The Property is as of right under T6-24A. The Developers did not seek to leverage additional benefits from City by up-zoning to T6-24B, as several other projects in the neighborhood have done. Project was unanimously approved by every member of the UDRB board (7- 0) with no design comments or required revisions. The Developers are looking to break ground 202, thereby looking to create jobs andfoster Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) growth during a period of economic uncertainty / projected recession as a result of theCOVID-19 pandemic crisis, helping to offset its potential impact on the neighborhood. 3 Packet Pg. 201 1.3.c Wynwood Haus CRA Proposal CRA PROPOSAL In order to be able to carry out the proposed Project, the Developers are seeking the financial support of the CRA. Total impact fees, permitting fees, and streetscape/sidewalk improvements including the ground floor landscaping designed by Enzo Enea are projected to cost over $3.8M. In addition, the above-mentioned rent restrictions represent a present value in loss of income of $8.3M. In exchange, and to partially help offset the loss in income, the Developers are requesting: (1)A rebate of 95% of the TIF collected by the CRA during its anticipated term through 2047 plus any additional extensions of the CRA. This benefit represents a present value of $6,387,662. See TIF Analysis Report prepared by Larry M. Spring, Jr., CPA attached hereto as Exhibit A. (2)A cash grant of $1.1M ($4,911 / unit) paid out in equal quarterly installments over 3 years ($91,666.66 per quarter for 12 quarters). The Developers are also offering to give back to the CRA .0% of all retail gross rent proceeds that the Developer collects from the Propertys ground-floor retail during the initial 15 year period after completion of the development. BACKGROUND ON DEVELOPERS Founded in 2008, TSG is a real estate investment and development firm focused on understanding goal is to create experiences that will help them grow. TSG Group development portfolio includes Ofizzina, a Class A office condo building in Coral Gables; Cassa Brickell, an 80-unit boutique condo building, and Cassa at Georgetown townhome community near Fort Lauderdale. Additionally, TSG Gr strategically located areas of Miami, including the Design District, the Miami River, Brickell, Edgewater and the Health District. Through its strategic partner Black Salmon, the group acquires real estate opportunities in main markets of the United States and transforms the assets into profitable, risk- portfolio of assets to maximize the operational efficiency and profitability of each asset. Lineaire Group was founded with the goal of combining an institutional investment approach with disciplined risk management, and a cutting-edge architectural design and project management team. This unique combination allows the company to turn complex, often overlooked projects into high- performing assets, and to deliver investors superior risk-adjusted returns. The group focuses on value- add/repositioning opportunities and development opportunities. Recent acquisitions include 316 E 55th St. multifamily building in New York, 10 New River in Fort Lauderdale, and a portfolio of historic residential condominiums in Miami Beach. Lineaire Group also operates alongside its sister company, Lineaire Designs, which serves as an in-house design and construction division. In the last three years alone, Lineaire Designs has successfully completed 300+ apartment projects in buildings in the South Florida luxury market, including Aria on the Bay and Marquis Residences, among others. In addition to more accurate underwriting, having a team of experts across industries servicing a project from inception to completion ensures streamlined execution. Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 4 Packet Pg. 202 1.3.c Wynwood Haus CRA Proposal EXTERIOR DESIGN RENDERINGS źĻǞ ŅƩƚƒ ƭƚǒƷŷǞĻƭƷ ĭƚƩƓĻƩ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 5 Packet Pg. 203 1.3.c Wynwood Haus CRA Proposal źĻǞ ŅƩƚƒ ƓƚƩƷŷ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus 6 Packet Pg. 204 1.3.c Wynwood Haus CRA Proposal INTERIOR DESIGN RENDERINGS wĻƭźķĻƓƷźğƌ \[ƚĬĬǤ ĻƓğƓƷ ƒğźƌƩƚƚƒ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 7 Packet Pg. 205 1.3.c Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 8 Packet Pg. 206 1.3.c Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ wƚƚŅƷƚƦ ğƒĻƓźƷǤ ƭƦğĭĻ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 9 Packet Pg. 207 1.3.c Wynwood Haus CRA Proposal GROUND FLOOR LANDSCAPING DƩƚǒƓķ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓ ǝźĻǞ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus 10 Packet Pg. 208 1.3.c Wynwood Haus CRA Proposal {ƚǒƷŷ ĻƌĻǝğƷźƚƓ ĻƭƷ ĻƌĻǝğƷźƚƓ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 11 Packet Pg. 209 1.3.c Wynwood Haus CRA Proposal DƩƚǒƓķ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓƷ ƭƦĻĭźĻƭ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 12 Packet Pg. 210 1.3.c Wynwood Haus CRA Proposal wƚƚŅƷƚƦ ğƒĻƓźƷǤ ŅƌƚƚƩ ƌğƓķƭĭğƦźƓŭ ƦƌğƓ ǝźĻǞ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus 13 Packet Pg. 211 1.3.c Wynwood Haus CRA Proposal SAMPLE UNIT RENDERINGS {ğƒƦƌĻ ЋΏĬĻķƩƚƚƒ {ğƒƦƌĻ ЊΏĬĻķƩƚƚƒ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 14 Packet Pg. 212 1.3.c Wynwood Haus CRA Proposal {ğƒƦƌĻ ƭƷǒķźƚ Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus Affordability Grant Agreement) 15 Packet Pg. 213 1.3.c Attachment: 7930 Wynwood Haus-Cover Letter and Final CRA Proposal (7930 : 4/5ths Wynwood Haus EXHIBIT "A" Packet Pg. 214 1.4 INTER-OFFICE MEMORANDUM BACKGROUND: JUSTIFICATION: Packet Pg. 215 1.4 RECOMMENDATION: FUNDING: City of MiamiPage 2of 4File ID: 7931 (Revision: ) Printed On: 9/22/2020 Packet Pg. 216 1.4 City of Miami Legislation OMNI CRA Resolution File Number: 7931Final Action Date: City of MiamiPage 3of 4File ID: 7931 (Revision: ) Printed On: 9/22/2020 Packet Pg. 217 1.4 City of MiamiPage 4of 4File ID: 7931 (Revision: ) Printed On: 9/22/2020 Packet Pg. 218 1.4.a Attachment: 7931 Bid Waiver Memo-Rehab Grant Agreement (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) Packet Pg. 219 1.4.a Attachment: 7931 Bid Waiver Memo-Rehab Grant Agreement (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) Packet Pg. 220 1.4.b OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY NOTICE OF PUBLIC HEARING Casa Mia Apartments, LLC, the development of a mixed use project consisting of affordable housing units in the Omni CRA. For your information, members of the public can leave prerecorded public comment by calling 305-679-6866 for agenda items that are scheduled to be heard at this virtual meeting. The prerecorded public comment will be played during the virtual meeting. The deadline to submit prerecorded phone comment is September 23rd, 2020 by 5:00 p.m. Phone messages submitted afterthe deadline may not be played during the virtual meeting. Finally, public comment may also be submitted via an online comment form and will be distributed to the Elected Officials and CRA Administration and made part of the public record via the following link: .The deadline to submit public comment via the online comment form will occur when the Chairman closes public comment for the virtual meeting. Attachment: 7931 Notice to the Public (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) Packet Pg. 221 1.4.b Attachment: 7931 Notice to the Public (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) Packet Pg. 222 1.4.c Letter of Transmittal SUBJECT:Casa Mia Apartments LLC Grant Application Omni CRA: Adam OldUpturn Group: Natalie Duran TO:FROM: 305-815-5100 (Cell) 305-877-0337 PHONE:PHONE: September 18, 2020 5 DATE:# OF PAGES: Upturn Group and its principal Casa Mia Apartments LLC are excited to work with the Omni CRA on the rehabilitation of a 12-unit residential building located in the heart of Overtown. This apartment building consist of a 5707SF apartment building with 6 2-bedroomapartments and 6 studio apartments. The property was acquired by Casa Mia Apartments and plans on working with the Omni CRA to rehabilitate the project. With this collaborated efforts, Upturn Group plans on continuing to provide Affordable Housing to thelocal community. The property was acquired for approximately $1 million dollars late 2018 and plans on receiving grant funding from the Omni CRA in the amount of $500,000 +/-. This cost sharing will not only provide financial flexibility for the principals but it will provide more housing stock in the Overtown neighborhood. The Omni CRA will afford therehabilitation funding to the Developer in return for Affordable Housing with rents set forth in the rental regulatory agreement and Covenant of 20 years. Once the apartments are redeveloped; they are to intended to be leased to the existing residents. As more units become available, they will leased to qualified tenants under Omni CRA criteria. By working with the Omni CRA, the developer can supply quality homes to the current residents at affordable rates- helping keepthe community and family in their neighborhood. Warm regards, Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) Natalie Duran Packet Pg. 223 1.4.c CASA MIA APARTMENTS The Overtown area of Miami is comprised of 1950s and 60s post-war housing. Some single family homes but mostly concrete multifamily developments ranging from 4 unit to 20 unit structures. Most of the rental housing stock available is mainly owned by absentee owners who do not address the dilapidated conditions. Some buildings have been sold or flipped several times (including ours) over the past years with no efforts of rehabilitation. The cost of land and construction has risen, and the opportunity of development is expanding to this area- leaving the current residents most vulnerable to displacement. Upturn Group wants to rehabilitate the current structure not only because of its historic contribution to the neighborhood character but also because of its strong bones. Sustainability here not only means ecologically aware, but also to sustain the local residents’ ties to the community. We do not want to displace anyone, but keep our tenants in their home and keep the culture of the community strong. Thanks to the help of CRA, we plan on cost sharing this project so that we are able to continue to serve the current residents of the Omni area at affordable rates with homes they can be proud of. Developer & Principals Developer: Natalie Duran of Upturn Group LLC Upturn Group concentrates on infill development, rehabilitation and affordable housing in the Miami area. It is owned and operated by Natalie Duran and currently has over 200 units of ground-up affordable housing in the pipeline. She has the experience of working in real estate and construction since she was a child. Growing up with a mother who was a real estate professional and father who is a contractor, Natalie learned the business rather quickly. She received her undergraduate from Loyola University in Communications and Marketing, and then went to work with the family. She supervised and managed several projects ranging from single family homes to the build-out of a 60,000+ SF office building. She received her real estate license in 2011- concentrating in multifamily investments. She went on to attend University of Miami for their Master in Real Estate Development + Urbanism on scholarship and at the graduation ceremony was presented the award of Most Valuable Student in Real Estate Development by her peers, professors and the program directory. She continues to learn and expand Affordable Housing opportunities locally and has been working on policy changes within the City of Miami. Principal: Carlos Parra of Southeast Real Estate Investments LLC Southeast Real Estate Investments LLC is owned and operated by Carlos Parra- a Miami local who’s has had the experience of acquisition and rehabilitation for more than 60 homes. He is a financial and risk analysist and consultant for corporate clients, and he is also an expert in marketing for commercial Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) projects. He has a degree in Business Administration as well as Juris Doctorate. 1 Packet Pg. 224 1.4.c Principal: Jorge de Pina Jr. of Mia Acquisitions Inc. Mia Acquisitions Inc. is owned and operated by Jorge De Pina Jr. He is a Miami local who has strong ties to the community. He did his undergraduate in Florida International University and his Master in Real Estate Financing through the University of Miami. Mr. Pina owns a real estate brokerage company called Mia Realty and has been in the real estate business for over 15 years. His background has been in rehabilitation of single family homes, distressed assets, and is now in the works of constructing approximately 85 Affordable Housing units in the City of Miami. Casa Mia Apartments LLC Marquis Bank (now Professional Bank):LOC Developer: Upturn Group Natalie Duran Architect: Moino/Fernandez Architects Inc. General Contractor: Marcelo A. Moino AR-11733 Project Manager Engineer: Maquiera Engineering Consultant SubsVendors/Suppliers Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) 2 Packet Pg. 225 1.4.c DevelopmentDescription Project Overview The Developer plans on working with the OmniCRA to rehabilitate the existing structure. She intends to st renovate the existing multi-family residential building located at 1815 NW 1 CT. It is located in the Overtown neighborhood in the City of Miami. The property consists of one 6,300 SF T3-O zoned parcel with one structure made up of 12 residential units. Once the apartments are redeveloped; they are to intended to be leased to the existing residents. As more units become available, they will leased to qualified tenants under the Affordable Housing Criteria set forth in the covenant and Rental Regulatory Agreement By redeveloping the property with the Omni CRA, the developer intends to keep stock of affordable housing to the current residents- maintaining the community and family ties in the neighborhood. Project Deliverables The Developer and Owner commit to a period of 20 years under the following Affordable Housing lease rate guidelines. 75% of the building will be at 80-120% 25% of the building will be at Market Rates The property consists one freestanding building of 12 units: 6 Studios 6 2-bedroom, One Bathroom units This applications is made by Upturn Group LLC., a Florida limited liability company (the “Developer”). The Developer intends to renovate the existing 12-unit multi-family residential apartment building, which is located in the Overtown neighborhood in Miami-Dade County. The apartments, once renovated, are intended to be leased to the existing residents under the provisions set forth in the covenant. As units become available, they will be leased to new tenants who are qualified under the Rental Regulatory Agreement. The project will be done one column of apartments at a time, starting from the West and working our way to the East. 3 units will be worked on concurrently, and the current tenants will move into the units once they are available. The Developer will work to keep tenants on property during renovation by temporarily relocating tenants to unoccupied units within the Development site and placing them back Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) into their renovated units upon completion. The Developer expects to begin delivering units within 12 months from the commencement of work, with a completion date dependent on the cooperation of in- place tenants. 3 Packet Pg. 226 1.4.c General Description of the Development The Principalshaveformeda separate Florida limited liability company, which will be the record owner for the individual site: Casa Mia Apartments LLC. The Development consists of a total of 12 units spread out through three stories. The unit break-down is as follows: 6- Two Bedroom, One Bath Units 6- Studio, One Bath Units Developer commits to undertake the necessary renovation of the Development. The general renovation package, which the Developer intends to make in each of the units requiring renovation, consists of: All upgrades to meet fire safety code. Roof replacement with warranty. New air conditioning system in all units- o 2 bedroom: Goodman 1.5Ton 16 SEER AC o Studios: Mitsubishi 12k BTU Cooling + Heating 23.1 SEER Energy Star qualified water heater in all units. Code-compliant impact windows. Exterior doors replaced with fire rated metal doors. Commercial VCT and/or Ceramic or comparable flooring throughout each entire unit. Energy Star qualified refrigerator, dishwasher and full-size range and oven in all units. The Developer will install new cabinets with granite or comparable counter tops, and a new sink and faucet. The Developer will install new bathroom cabinets, sinks, fixtures, toilets, tubs or showers. The Developer will install ceramic, porcelain or comparable tile bathroom floors and walls at bathing areas. Code compliant site lighting. Appropriate landscaping and fencing. Termite prevention and pest control Replace existing plumbing with Florida Building Code required Resurface parking area Add exterior fencing for the safety and security of the residents. The Developer is committed to preserve and protect the environment and will install new Energy star- rated appliances and air conditioning equipment throughout the Development. The Developer will explore energy efficient solutions to help reduce utility costs to tenants and to promote the City’s commitment to “sustainability”. Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) The Developer approximates $48,000 per unit to renovate- included but limited to all Hard Costs and Soft costs. This includes not only new interiors but also base building work such as new roof, windows, structural, mechanical, plumbing & electrical upgrades, and exterior finish - which includes landscaping, fencing, parking and common areas. As well as General Contractor, Architecture, Engineering, Permits 4 Packet Pg. 227 1.4.c fees, Expediting, Developer and project management. Given this experience, the 12 unit renovation will cost a minimum of $575,000 to deliver in renovation costs. The Omni CRA will provide $500,000 in renovation costs and the owner will furnish the balance to deliver a project that the neighborhood will be proud of. Rehab Cost By Trade Subtotal SOFT COSTS/GENERAL CONDITIONS $150,000 GC, Developer, Engineer, Architect, Permit Fees, Expediting DEMOLITION$24,000 SIDING $5,000 ROOFING $25,000 EXTERIOR DOORS & WINDOWS $46,000 LANDSCAPING/FENCE$5,000 MISC. EXTERIOR ITEMS $5,000 FRAMING & DRYWALL $40,000 CABINETS & COUNTERTOPS $25,000 DOORS & TRIM $32,461 FLOORING $22,734 TILING $4,600 PAINTING $28,000 APPLIANCES $23,112 PLUMBING $44,000 HVAC $31,000 ELECTRICAL $46,000 TRASH REMOVAL $18,000 $574,907 Subtotals Hard and Soft Costs Totals $574,907 Hard and Soft Costs Totals per Unit $47,909 Hard and Soft Costs Total per SF $101 Total $980,000 Land Cost Development Cost Total $1,554,907 per Unit $129,576 Attachment: 7931 Casa Mia Letter and Rehab Proposal (7931 : 4/5ths Casa Mia Gut Rehab Affordability Grant) 5 Packet Pg. 228 1.5 INTER-OFFICE MEMORANDUM BACKGROUND: JUSTIFICATION: FUNDING: Packet Pg. 229 1.5 City of MiamiPage 2of 5File ID: 7932 (Revision: ) Printed On: 9/22/2020 Packet Pg. 230 1.5 City of Miami Legislation OMNI CRA Resolution File Number: 7932Final Action Date: City of MiamiPage 3of 5File ID: 7932 (Revision: ) Printed On: 9/22/2020 Packet Pg. 231 1.5 City of MiamiPage 4of 5File ID: 7932 (Revision: ) Printed On: 9/22/2020 Packet Pg. 232 1.5 City of MiamiPage 5of 5File ID: 7932 (Revision: ) Printed On: 9/22/2020 Packet Pg. 233 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 234 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 235 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 236 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 237 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 238 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 239 1.5.a Attachment: 7932 COVID-19 Emergency Grant Application (7932 : COVID-19 Business Recovery Grant) !Pnoj!Dpnnvojuz!Sfefwfmpqnfou!Bhfodz!Ô!Bmfy!Eb{!ef!mb!Qpsujmmb-!Dibjsnbo!Ô!Kbtpo!Xbmlfs-!Fyfdvujwf!Ejsfdups! !2512!O/!Njbnj!Bwf/-!3!Gmpps-!Njbnj-!GM!44247!Ô!xxx/pnojdsb/dpn!Ô!416/78:/7979! Packet Pg. 240