HomeMy WebLinkAboutR-82-10756 6
RESOLUTION NO.
A RESOLUTION RATIFYING, APPROVING AND
CONFIRMING THE CITY MANAGER'S ACCEPTANCE =_
OF AN $800,000.00 GRANT At^iAPD FROM THE
UNITED STATES DEPAPTr!ENT OF COr1rILRCE:
ECONOMIC i EXELOPMENT ADMINISTRATION FOR
`. HU RFDF,-VEL0PHE"7T AND RENOVATION OF THE
PANTRY PRIDE BUILDING AND PROPERTY
LOCATED AT NORTHWEST 62ND STREET AND GTH
AVENUE, IN CONJUNCTION WITH THE E t?LAFONTE
TACOLCY CENTER, TNC. ; AND AUTHORIZING THI
CITY MANTAGER TO ENTER I14TO AN AGREEMENT
tiITII 13ELAFONTE TACOLCY CENTER, INC. , II4 -_
SUBSTANTIALLY THE F'ORH ATTACHED HERETO.
WHEREAS, the City Commission adopted Resolution No.
82-636 on July 22, 1982, approving the City iaanager's sub-
mission of a grant application to the United :Mates Depart-
ment of Commcr.ce: Fcononic Development Adriinist ration (LDA)
requesting $ 300, 000.00 for the redevelo;,nent Ind renovation
of. the Pantry Pri(ir_ buildin(3 and prof:erty located at t:or.th-
west 62nd Street jil;j 6t1h :'venue in conjunction with the
Pelafonte Taculc_y Center, Inc. and expressing the intent of
the City Commission tr) 17eet the cash --catch r(.,,3uirements of
the Uni.tc�d States Department of Commerce for this project
when it is ap r.ove(I by the FDA; and
WHEREAS, t}ie City Nanager and Belafonte Tacolcy Center,
Inc, accepted FDA's offer of grant award in the amount of
$800,000.00 on 5f:!ptenber 29, 1982; and
WIiEREAS, the purpose of this grant is to renovate a
currently vacant 46,000 ± square foot Pantry Pride super-
market structure into a 23,000 square foot supermarket and
8-10 retail establishments; and
WHEREAS, the total cost of the project is estimated to
be $1,700,000; aril
WHEREAS, the City of Miami has identified $400,000 in
revenue from 1983 Florida Power. and Light franchise fees to
provide some of the match requirement of the grant; and
WHEREAS, the Local Initiatives Support Corporation, a
CITY COMMISSION
MEETING OF
N O V 1 U 1982
MllI110N '
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subsidiary of the Ford Foundation, Metropolitan Dade County,
and the Greater Miami Chamber of Commerce: Business Assis-
tance Center will provide matching funds in the amounts of
$250,000, $125,000, and $125,000, respectively;
NOW, THEREFORE, Pr IT HEREBY RESOLVED BY THE COMMISSION
OF THE CITY OF f-IIAMI , FLORIDA:
Section 1. The action taken by the City Manager in
accepting an $800,000 grant award from the United States
Department of Commerce: Economic Development Administration
for the redevelopment- and renovation of the Pantry Pride
building and property located at Northwest 62nd Street and
Gth Avenue, in conjunction with Belafonte Tacolcy Center,
Inc., is hereby ratified, approved, and confirmed.
Section 2. The City ?ianager is hereby authorized to
enter into an agreement with Belafonte Tacolcy Center, Inc.,
in substantially the form attached hereto.
PASSED AND ADOPTED this 10 day of NOVEMBER , 1982.
MAURICE A. FERRE
MAURICE A. FERRE, Mayor
ATTEST:
r
l RA PIi G. ONGIE
City Clerk
4
Honorable Mayor and November 9, 1982
Members of the
City Commission _,_. Belafonte-Tacolcy Center, Inc.
Contract
r' (Planning & Zoning City
Commission Agenda of 11/10/82)
Howard V. Cary
City Manager L'
Attached is back-up information for item 23 on the Planning
and Zoning agenda of tlovember 10, 1982 authorizing the City
Manager to enter into a contract with the Belafonte-Tacolcy
Center., Inc. to carry out the project. The enactment of this
resolution is essential to enable Belafonte-Tacolcy to acquire
the Pantry Pride site and subsequently utilize $800,000 in
Federal funds for the rehabilitation of this important facility
in the Edison Center area. You may recall that the Mayor and
City Commission attended a mock contract signing at Belafonte-
Tacolcy on Wednesday, October 13, 1982.
4 i
T11E CITY OF IMIAMI
*iEmORANDG,? OF AGREEMENT
This t•ienorandum of Agreement is made and entered into
this day of , 1982, between the City
of Miami, a municipal corporation of the State of Florida,
hereinafter called the CITY, and Bel,afonte, Tacolcy Center,
Inc., a Florida corporation not for profit, hereinafter
called BTC.
iJITNESSETH
WHEREAS, the CITY and BTC have heretofore applied for a
U.S. Department of Commerce Economic Development Administra-
tion Public Works and Development Facilities grant and have
received and accepted an Offer of Grant date,! September 25,
1982 in an amount not to exceed $600,000.00 to construct or
equip a shopping center ccmplex in the City of Miami, here-
after referred to as THE VEjNTU ,',; and
the Cit-J, of i iami has allocated $400,000.00 in
additional funds as a long-term, low interest loan for THE
VENTUP.E; and
WHEREAS, the City of Miami Commission authorized a loan
agreement and contract between the CITY and BTC by Resolu-
tion No. , PASSED AND ADOPTED on the loth day of
November, 1982, and said Resolution is incorporated by
reference; and
WHEPEAS, the Liberty City area in which BTC shall
develop and operate THE VENTURE, is a designated blighted
area under. Section 163.340(8) of the Florida Statutes and
the purpose of this project is a public purpose to improve
and rehabilitate the Liberty City area and to stir.iulate its
economic development by the development of a Shopping
Center,
t:O J, THEREFOPE, in considicr.ation of the sum of Ten
Dollars ($10.00) and other good and valuable consideration,
,� !r�r-MC
h l7 / r 11%J r ►�
the receipt of which is hereby acknowledged, and upon pro-
mises and the mutual covenants and agreements herein con-
tainer.9, the parties hereto agree as follows:
I. AUT11O_1%I �TIO14:
The CITY hereby authorizes a loan in the amount of
Four Hundred Thousand Dollars ($400,000.00) to be made by
the CITY to BTC toward the latter's purchase and initial
development of TIIE VENTURE. This authorization is contin-
gent upon a purchase price for THE VENNTURE not to exceed
Three III:ndred and Fifty Thousand Dollars ($350,000.00),
excluding closing costs. Payment for all closing costs and
assumption fees, if any, associated with the acquisition of
THE VENTURE by BTC may be made from this loan.
Located at 645 Northwest 62 Street in the City of
Miami, the legal description of THE VENTURE is as follows:
Building:
Lots 1-6 and the East 20 feet of Lot 7
plus Lots 12-18 of Block 5, First Addi-
tion of Forest Park, Plat Book 6, page 6
of the Public Records of Dade County,
Florida, as recorded in Vol. B of Hopkins
Plat Book of Miami, Florida on Pg. 14,
3.52 Acres.
Vacant Property:
Lots 3-6 and the East 25 Feet of Lot 7,
Lots 13-16 Block 6 First Addition of
Forest Park, Plat Book 6, Page 6, of the
Public Records of Dade County, Florida,
as recorded in the Hopkins Plat Book of
Miami, Florida.
II. TERM:
The term of this Agreement shall be for a period
of time commensurate to the po-riod of time BTC holds title
to THE VENTURE or until the CITY's Mortgage on said property
is fully satisfied, whichever is earliest, and is subject to
the considerations outlined in this contract. The term of
this Ayreemont shall be that period beginning on the date of
execution hereof by the City Manager. It is expressly
agreed that the consideration outlined in this contract can
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be tenegotiated as a condition for mutual consent,
tit, CONSIDERATION:
Its consideration for the $400,000 loan made by the
CITY to BTC toward the latter's purchase of THE VENTURE, and
concurrent with "closing," BTC agrees to execute and deliver
to the CITY a Promissory Mote in the amount of $400,000.00
to be evidenced by a Mortgage to be promptly recorded in the
public records of Dade County, Florida on the PROJECT. Such
closing shall occur concomitantly with the transfer of the
$•100,000.00 loan by
the CITY to
13TC. All
intangible taxes,
docuriontary stamps
and recording
fees are
to he paid by BTC.
Such loan shall be
repaid over
a Forty (40) year period at
_ an annual interest
rate of 3`t,.
Repayment
by BTC during each
of the first twenty
(20) years shall
be in
the annual amount
of $12,000, representing interest only. Repayment by BTC
during each of the t•:;enty-`irst (2lst) throuyil fortieth
(40th) years, respectively, shall be in the amount of
$26,886.29, representing interest and principal due. Annual
payments shall be prorated and due on a quarterly basis.
The
first payment is
due
ninety
(90) days subsequent to
BTC's
purchase closing
date
on THE
VENTURE.
Should
THE
VENTURE
be
sold
by BTC, said seller
agrees to pay
the
CITY 100"
of
the
outstanding mortgage
balance due on the subject loan.
BTC shall obtain prior written consent from the
CITY should any transfer, conveyance, incumberance, mortgage
or sale of `P:il, V1.1,.1UI�E or kart thereof be contemplated. The
CITY reserves the right to deny the sale of THE VENTURE by
BTC if the selling price is less than $400,000.00
IV. ANNUAL REPORT:
13TC agrees to provide, or
have
the management
firm
contracted by it, provide the CITY
with
a yearly work
pro-
gram and budget which proposes how
THE
VENTURE's cash
flow
3
0
'from oper.:`.tnns will be util ted to stimulate economic
development activities in the Liberty City Area, BTC shall
submit the first of its yearly Work Programs within sixty
(60) days of the fl.ste on THE VENTURE. Subsequent
19ork Proyra;n reports shall he filed with the CITY in March
of each year. Said reports shall be made to the CITY until
final payment is made under this Agreement. The CITY
reserves the right to review, and approve said work program.
BTC shall also demonstrate to the satisfaction of
the CIT`i that any cash flow accruing to FTC from THE VENTURE
will be utilized to stimulate economic development activi-
ties within the Liberty City Area.
V . MANAGEME 7:
Within sixty (60) days of closing on the property,
BTC shall contract with a professional management firm, or
firms, approved by the City t•lanager for the operation,
leasing and maintenance of THE VE^:TURE.
VI. BOOKS Or ACCOUNTS:
BTC agrees to keep appropriate, full and true
boors of accounts reflecting all transactions made with
respect to the acquisition, operation, leasing and mainte-
nance of THE VENTURE as may b` reasonably required by good
accounting practices. THE CITY shall have the right at
reasonable times, to audit the books and records of BTC and
its management firm at any time during the performance of
this Agreement and for a poriod of one year after final
payrient is. made under this Agreement.
The said records shall be made available to the
CITY's Internal Audit Department, or its authorized repre-
sentatives, and the reprosentatives of the Federal Govern-
ment, to audit and examine all contracts, invoices, mate-
rials, payrolls, records of personnel, conditions of employ-
ment an: other data relating to all matters contained in
n�, F1 • r♦
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this Agreement, The documents and records shall be further-
more maintain,-: by BTC for not less than three years follow-
ing the termination of this Agreement.
No later than 60 days following the end of each
calendar year (.Jan -Dec. 31) during the existence of the
CITY's mortgage, BTC shall deliver an income/expense state-
ment for that year in certificate form signed by a Certified
Public accountant.
Payment to any directors, officers or principals
of BTC for any direct or indirect participation in the
acquisitions, operation, and maintenance and sale of the
VENTURE shall be excluded from any operating cost or
expenses.
However,
salaried
employees may be compensated
for duties related
to the
day-to-day operations of THE
VE.7TURE
subscquent
to its acquisition.
Such compensation
shall be
a permitted
operating
cost or expense.
VIi.
GE;IEPAL CONDITICINS:
BTC shall pay, prior to delinquency, all taxes,
assessments and other governmental charges that may be laid
or levied upon TIE VE::TUPE. BTC shall at all times in the
operation and maintenance of THE VENTURE contemplated under
this A�Jre,-,ment, abide by the la-.s enacted or pror:iulgated by
federal, state, city of other governmental bodies or depart -
vents or officers thereof including the City Charter, the
Municipal Code of the City and directives of the City
tanager.
The CITY shall not disperse loan proceeds until
the date of closing on THE VENTURE and transfer of title on
the premises described herein from its current owner to BTC.
,
Execution of this Agreement is subject to THE
VEWTURE' meeting Ipl)lic<iblel local, state, .Ind Federal guide-
lines. L;TC .:;hall reii:�Lurse the CITY $400000 if. THE VENTURE
is ev(_�r. doternined to be in contravention of said guide -
lines,
5
is ev(_�r. doternined to be in contravention of said guide -
lines,
5
VIII� TERGIIiATI+7ti:
IF BTC at any time during the term of the Agree-
ment should he in default of any term, provision or covenant
of. the Agree,�ont, and shall fail to remedy such default
within a time period to be determined by the City Manager,
then, if such default is net curerl the CITY may, at its
option, foreclose on THE VENTURE. BTC shall also be in
default if there is: a) improper use of City loan funds; b)
submittal of matorically inccrrect or incomplete reports; and
c) any paymont of principal or interest unpaid thirty (30)
days after its clue date, or a failure by BTC, or its manage-
ment firm, to l.ay taxes, water charges or assessments thirty
(30) days after notice and demand.
IX. I::SLjPAi:CE
LTC ar;rces to provide a comprehensive policy of Rk
liability, th�34 t a,t(. property damaiao insurance the limits of
such insurancc to i)e determined by the City's Insurance
Manager. The CITY shall be listed on the policy evidencing
such ccveraga as a limn holder on the insured premises. A
certificate evidencing such insurance coverage shall be
filed with the City'- Insur<ance :.tanager prior to the com-
mencen(�nt of periori,iance under this Agreement. At least
thirty (30) days prior to the expiration of such a policy a
certificate showing that such insurance coverage has been
r.ene.:e shall be filncl v:ith the Citv's Insurance Manager.
Such ce17tificates shall provide that .such insurance coverage
will not bc! cancelled without thirty (30) days prior written
notice to BTC. BTC shall notify the CITY immediately upon
reccipt of an insurance cancellation notice.
X. AME'lv1),IENTS ANID ASSIGNABILITY:
The CITY an(! 5TC may, at thoir discretion, amend
this tletnorandum of at any time to conform with any
facts which may require such amendment. Amendments, if so
i
required, shall be attached hereto in ..iriting signed by all
dul•.- authorized representatives of each party, subject to
the approvA of the City Commission.
This Agre,-:7—it is not assignable by either party
without the written approval of the other party in the fora
of an amendment hereto.
Xi. SUCCESSORS AND ASSIGNS:
This :'Agreement shall he binding upon the parties
herein, their heirs, executors, legal representatives,
successors, and assigns.
XII. Jqo��-DTSCRIMINNATION:
In the operation, leasing and maintenance of THE
VENTURE,, BTC shall not discriminate against any tenant,
prospective to"ant, employee or ay plicant for employment
because of sex, age, race, color, religion, ancestry or
national origin.
XIII. INDEPENDENT CO:;TRACTOR:
That BTC and its employees and agents shall be
deemed to be independent contractors, and not agents or
employees of the CITY.
XIV . I!41)I:1 I� I FICATIOI
13TC shall indemnify and save the CITY harmless
from and against any and all adjudicated claims, liabili-
ties, losses, and causes of action which may arise out of
LTC's activities under this Agreement, including all other
acts or c)rlissioizs to act on the part of BTC or any of its
agents or priployees, acting for or on its behalf.
BTC further agrees that under no circumstances
will fliE CITY, its officers and ei,,iployees be held liable for
any claims for payment of money, claims for (debt associated
9V CONFLIcT OF INTEREST
BTC covenants that no person under its employ who
presently exercises any functions or responsibilites in con=
nect:ion with this Agreement has any personal financial
interests, ?irect or indirect, in this Agreement. BTC
further covenants that, in the performance of this Agreement,
no person having such conflicting interest shall he employed
or retained .as an agent. Any such interests can the part of
B':C, Its c"gcnts or their cmployCe:3, must be discloscd lit
writing to the CITY. I3TC and its agonts, in the performance
oI this Agreement, shall be subject to the more restrictive
law anti/or guidelines regarding conflict of interest promul-
gated by federal, state or local government.
XVI. ENTIRE AGR};E;1E,.T :
This Agrc--enent is the entire agreoment between the
Marti+_s with respect to the matter hereof and super -
cedes all prior aarecments betv,een the parties with respect
hereto. io alteration, modification, or interpretation
hereof small be binding unless in writing and signed by both
parties.
IN WITNESS WHEREOF, the parties hereto have caused
these presents to be duly executed with all the formalities
required by law on the respective dates set forth opposite
their_ signatures.
CITY OF MIA II, FLORIDA�
a municipal corporation