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R-81-0344
Ralph G. Onvie City Clerk 1 1)11 W. McManus Acting Director Planning Department April 28, 1981 UDAG Anplication: Jackson Towers Nursing and Re- habilitation Center Attached hereto is the 1'rhan Devol m ment Action Gran t Application toprovoct in principle by City Commission Resolution 81-3-1.1: April 2:3, 1981. Pleaso retain either this application or tho identical inplient.ion forwarded from the "1anagor's orrice in your files Sri t h this Re- solution. Please return three cert i fi(�d cr,pies of ResoluLio,n ail-:;11 to tills Department ['<,r inclusion Frith the Applieation, as suhmi t Led. JWNI : mb I:nc . 0 CITY OF MIAMI U DAG APPLICATION 1981 go fimm FOR JACK SON TOWERS NURSING & REHABILITATION CENTER D.A. MITCHELL - OWNER/DEVELOPER URi"I DEVELCi'.'•iENT ACTION GRAL;T :1PPLICATIC):; Pa-e Part I : Standard Form -12 4 (A-95) A EXIiIBITS State Planrlin j Dev?lep,,iient Clear]nt* house A Dade Cotinty I'Ianninf� Pepartnerit 3 Metropolitan Dept. of Iluinan Resources C City of `Ii.anii Support D State Community Medical Iaci1iti��� CGv 0 1283 E Adult Conc;regate 1,iVi11 I'ac i I i tv 1 icense appI I:-? H. I:, S. :Assurance to I-edera l Iious i illy Commi ss i oiler F Part II: Description of Propo.,ed Project -n Section A. Brief Sur., -nary of Project and - its Participants 1-2 S ti.on I:. DctailOd P1'oj12(t M.,.scription 3-16 E:i I I I :3 i T S R :iMe of IT) nnaId A. "iitch1�11 G I .:>u:.:,- of curi t Pi r) e r ti es SO Securit,, H S _c,iriPacif ic, Inc, Cc:r...,_ t:,,-nt of `1 , 7 ;_0 000 equ i ty I Financial Stat_ ,:ir,:l _;; of PC.rtn�2'S���t0C':t]olClel'S S:_ c . Pro j SO' J . Fin:.i]cic:l StaILC::t.r.t E� Donald A. ','itche1 & .r, ' rn t •..ttht�::s �:, u-h K '.Iattli�t:s £� 1%riFht Cc.,,71it,n,-,nt of $10,000,000 L Additional Ccm-nit rents Bond Urldc-rI.,.riters ',i Part III: Evidence of Meeting Program Objectives = Section A. Alleviation of Physical Distress 17 Section B. Alleviation of Economic Distress is Section C. Fiscal Improvement 19 Section D. Imnact on LoI.,-.Moderate - Income 20 Persons and Minorities FYI! IDIT: Economic Dc:vt:lopmcnt Strategy 0 Section E. Employment Plan to A!z;sure that the 21 Prix, to Sector Jobs Established are Available to the Unompl.oyed Section F. Record of Applicant 22 Part IV: Project Approval Information Section A. Technical Requirements 23 . Section 13. Citizen Participation, Civil Rights, 25 Lqual Employment .and Housing Opportunity. Part V: Assurances aUDAG FOI:MS: Form 1 (mart 1) Sources and Uses of Funds for Project 27 (Part 2) Sources and Uses of Funds by Transaction Form 2 Estimated Leverane Ratio Form 3 Other Public Financial Assistance Summary Form 4 Alleviation of Physical Distress Form 6 Fiscal Improvement Form 5 Alleviation of Econcmic Distress Form 7 Relocation Impacts Form 8 Provision of Housing i APPENDIX Table of Contents 1. Consultants Peat, 11ai-xick, and 'slitchell Feasibility Proposal. II. Health Svstems Agency Staff Findings & Review III. Plat, Leal Description, Site c,- Bld�;. Plan,; (complete original application only-) IV. Land Value Analysis and Comparablcs V. City of Miami Ietter Regardirl- Toning \'I. Security Pacific, Inc. Principles C Operating history VII. Project SAMA Appl.ication to IND (complete original application only-) VIII. Project Industrial Development Authority Application Il. Guide to Dade County Industrial Development Authority X. Contract Management Compariies (decision pending) XI. Architectural Brochure (fill in original only) XII. Bond Underwriter Brochure (fill in original only) IIII. Low Income Area Profile, Soical-Economic 1980 M. Metro, Dept. of Human Resources Acknowledgement X a N a a PAR: I STANDARD FORS 424 CLIS App.aeal Me. 29,-0O222 r 1-^"l AS3ISTA��CE frI LiE-RA I L "pus- A. 21v!Jx,t 3. STATE L hUrsul CANrs /•DrU. "ruCA. 7101 10=NTT. ..i L T-TPE ❑ ►'.°JfPt(Gi'Iv''! L DAn ►. DATE rear e■jath day AGTICN �.AI'Tt1G1T1C 1 CATION _ If �' 1 � FIEq A.S1t1rI0 If (v..11.,. 110TifiCATIVI CF IK7-'•!f NA) t.... P.:?03T CF F 017rX ACT" �a.r A. LLGAL AFFUCANWRECJPTE.YT L Mt!kAL E.'APLOYE;t (CL.1TIFICATION NO. a.400mtR"" 1 CITY LF P-,Ir+f' 1, FLLHI"'A L CrltLasGaa Unit S t< L tIr..tr..(L EM t r, L. EL X 3 3 L 7 C 5 ►M ` ►Ct(RIS I In, L TITU � � � fI N'• I . or+er : L r{ L E GRAN l (rr.. L SWA t FL L F I L r, R ut C-1- 3 31 3 t r.�...1 L C-tad I- (t:O..I. :,una 5ci llr;lan 7. TIrLS AND CESCR.PTION OF APPLICANT'S PROJECT L TTPS OF APPLICANT/AEC:PIEa.T A -Stirs L:.c. rt 2eE bt,d skillet unC ba`_ilc care nurS4nc %-IP.ILI%ato I-w,(eaFe"Al'a"18u:%.ar i r-S\faLLL Tmb4 f.rcility anc 43r_: beds of 1CF con-;rE->.ate c.ezIct K-;.0W(stotal,)i care in one 7 stcr� Luildinc: on 2.17 acres J F-ScaJ D;tb4et CUrtificatE. Uf 1�35uec .rune 1C. o aPul� r.t..a,,..s.{a(a"or a 2 V. TYPE CF A:S;STANCE M--ztme Least c- w=bAm w b-SL►:Iaoaa AJ ',r►il E� A. rotor •tree. n C ws• pra:t 4:rar.! LL SZ AMG1 OF FROJLCT IMPACT (Ne"eo a! aAaa, sa�at•y 12. ESTI"' TED •II,u. 12. T7PE OF APPUCA;ICN Sec:", a'.a) CER CF -11 5C1S E-Aas.Lr.ULaa s6LF1TTNG � I .L�� � 1 `� j �. (_ " C, I111L L.Y, 7 2 ,, rRts a. p..r.:.:. t.ctr IL PP0P--5Z0 FLhOIVC 14. CC•'vLPZui;OSAI. 015T.i1� 5 Oi: IS TYPE GF CKAW-3S (For 1:4 or ISe) A-•!atn\to Do1'1n F-vtiat (SPoelh)I a. FGC!4L I S C 1 •" ;. „^0 ArKIc.IY( t.C:at1 6-:ioeau o-4n ( ` Y 1.1 L T I/ a: ICkAr [: 1 i �• 4 �. .L, 1 1 l T - T Y CIY F�-. I 11 C-4sku" C.erll•c.Ai [=••�. '.vat -al C iaacou..w a SIATL IG. PPOIE= START 17. P+QIo_C? CATE YL .sowaA law CL'AAT, CN rater C:t+a. lC_:AL DO t? f-' 1 C. 1 L I "catAa Pluto a Otw(R f 1 ;_ L �7' 1.0. E3T;LATFO CaTE TO T.J. ataatA 1Ap I19. EX:ST:Nq FLL'LAAL 10WIT.FIC.ATIC14 NJV,3ER , . .:v OE TO 1 TTT l l l: 1 •� , , ., t ��JO ( F E l A: E.'+ 1 19 p 1 i �. C 4 F I ` 5- t [: C 375 M FECCLAL A:;L:tCY TO RE:LSVE R1:QViST (h'a..q C•:r. S(ara. ZIP ca:el .i a s h i n [-, ton , 21. RiI.L"K4 AOCED ff� C,- mac: n Lr_:nts HLL 4: I 7th 5t. L.C. 2C41G OY•I C 2Z A. To t1v We of cr }ae-s;ad;o 1%d t..lof, L If rrea.,.d b/ cur : la'ar A-;$ ta-t a::+ rile• .,, w5.•+,ret. p..•=wt to ,a. No ew Negro -at = o f" is U'a pr=p cat aa/a a;l ,t1ca art a:rwt w-3 M"Imm, to arp.ar su tlam,8; w.:..a aN rl row'""A are ar5araC APO.►* atlecAd 3 TN tree ►.+( aarroo- t,a doconrt ,to boos APPL'CJt.VT fall s%U-x\rd Iq V+o rv.sm.os 9c4l al Ca+', t, tr o�:Ci 1 tcin 1;adc CO. Planning Lept CERTIFIES t6a a?\u -=9 Lad t)e LpowmA sea may/ U t,a aunl- .0 ��o, El❑ u' TRAT � web U• .racial ruwww T F_�.F'te::ionu_t Flanninc Council- LAu i3 4 "r. -W. �q� 0 21 a TTlFO t- L A'10 TITLE L SlGriATl iL 16 DATE SI:ALD G CER'n 7. RichEird L Fosmoen fear P-04" clap Ri➢Re• . 19 e1 SE,hTATTVr C i t y f' a n i' ,2 r 24. AGL•ICY NAME 24- APPT.ICA. rear ao L% iap TICM RECEIVE-3 19 M CR:✓Y.ZA;ICTLAL UNIT J. ADLIIN:STRATIVE CFFICL FECLRAL AP3L,CATICN t I I;L tOEMIFICATION 29. ADDRESS M F7DERaL calAnr '• � u a ICLhTIFIZATICN ti ]L ACTION TAJ.Lzm FUNDING zw a+a.tA for arr .\..0 •gar sTAT Rnrto •. /E;t►Al S .M ❑ a AAA+'.c� 31. ACnOV DATL � 19 DATE 1! L 1JKI�JYT ,p0 3S. CC'4TACT FC.i A0^ITIC;IAL INFC2!A.M IS. rear aRl. dap ❑ ►. RC)(:TED r t ifTL':"t10 F:1 TION (.Vaa+I " Getti.AaAa aa.wao►) [NDI!(Q CATS 19 c STAT: I ♦. tDCAL I AO 37. REV.ARxS AtOLD AIJL:0',[M E91 ❑ :. GC;iVED . OTTItp .00 t. rctAt s too a. xlrr'Cwqe O Yea ❑Ne a. (• .ns aaaVa "I -GA. La/ tm!3 •9 is Ilca,.e7 f,an t: el/Ie; Mv. e1 i1t♦ cz L WHEAL $ZVVIZT A-1S DIi ICIAL ►,eat-. II o,a.cl rn ynta Is far ►^:" pdv%-w.-La of Ian A. CVd C.Ica:u A•1S. (A'aa\o •wd Ic:tj1..II.a Ise.) FEDERAL AGENCY 11 Lea Itat at IL ours •aaa. A.-95 ACTION ' 424-I01 3 J9#pwiZr1 by GS,La lodevsi s-wilesoof C;•e.:ar 14••1 . .`31 �� .."l•r�„. �.P�.j��M�^3AAr 91.'�1P... ' � - ... �Y ..Y `,�. .. ...y�bF•�tlrlw�.^lalr•Y..a �"i�s�.+SYK'+V"�-.. ....: J.y ... .� � ..• �.i. '`• � (Offtre of the (:�1�.1�rillni• _-, -� �T:• I� 1Ht CAPITOL `rP�"� 7At. t A. n SSE[ 32301 December 30, 19 0 Ms. Barbara L. Peterson, Asst. Vice President Charter '•'or,tcage Cc:-.,P3ny 2121 Ponce de Leon Boulevard Suite 1030 Ccral Ciaules, Florida 33134 RE: 203 Bed Skilled and Basic Care Nursing Facility and 57CICF Beds in r::de and ;:rc-ord Co,;nties 5" I : U"l 07 56 pE-ar s. Peterson: The `eta to P i anti i nc a nd P.C.- IeI o:-:;I::nt Cl c,ar-i rlcrlause, i n co:-,-p1 iance wi th U. S. 0 i 1Ce 0 :,are rl,-'�E'tlt and EAget Circular A-95, has provided a re':1C'r; of your not-iflcatlon of intent, to apply for fc11eral assistance In th_ c::...,-_Jnt of S1,590,000. The pr'oiect will be in accord with State plans, programs, and objectives cc.r,si&&ration is given to the co:-I••,Ents expressed by the D •partment of Health and rehabilitative Services. Pl_ase a�,,F_nd a copy of this letter to your application. This wi11 assure ti, c, federal agc,ncy of your co.,lp1iance with U. S. Office of Nanage:nent and E.udjet Circular A-95. Thidnk you for your cooperation. Sincerely, Ron Fahs, Director Intergovernmental Coordination RF/Cmt Enclosure r An Allnmatike A[Ii(in f yual01)[1Lnlunil� [rnrtiuiFt D F- I CA T C, r IF, -ICE L---CC' Of t-he December 23, 1980 -r-.7-D-E-71 Fri -ND S -n- a_n e V e 1 C - n - C a-r - 1-1 D c-, C ce c- ea ca! Se:�4ccs-ol;c e I C t 'PN R-s 21-0756 r-7 lluirs-ina F.-clility and IC.'.7 Nurs.1na Home c%7e S C Z Z-7.C- aals an4- c*--"-c-L; t-�e a:-,d a*-: ta C c c L -Z C: e C: �1 t L1 1 �_ 0l i Cc`1C:1 � S _E _'.�t_5 �C-C3 w: t -h c a n z s r e q -L:;-- S t ez Of o ff c -I o t CCU t e -n -,-.-e qcals an- O:Djec Services. -D-Droval z--e DenF-r7-:7enz 05 z az 1%, e ;s noz -"Or re-=Srps c5Gscr-4-l----d in `.e a`. -ached, 4- a C L (S) Rii1j+R,"'�tfRTt.!�Ki4:�Ci jc��LiisJ'�i:r:W;:'t:�iit,:>�:.::X;r:'�ti:v>'.�.la3tia•,v�+s+,V✓+.;�r:'iG:V•�(t'll�'ll'$yl9lv�l}.'�rtfiA.titN'fy�l�'�'t�OF�ri"��c�i7►+:�.: • : _.. . ���i: ,i;:::: O: }i :•.�T:i r.::D .�li-::.I:.I1f:� I`.�.. c:?VICSS PROJECT NOTIFI',TIG:: A:M VI:3ti•J Si'ST .`-! R--VT i;Dr^t CO:.2", EE I • Ot FICE • F�: c., r:: Da e: n)ecerr:bCr 15. 1980 DEC I: ":CD U K F,E E I V E D T0Davldson PDZ'S , 4 ° S-S 311 Unit- coordinator, Cff'ce Of PD ? i ` end D s�rict XI SPDC (S'-I) ~- c• C C ^.0 - C n^ .'3C1 4 ana ICF _-jIC:�:: J•?C"scan rs ?:ursi nc i:o:7e 81-0756 _s rc_^c�.=1 _c�..t__ied above was rL�tiJ•�c;;•�c P.r�,anda Gray � �- n oc:ram Staff �irector Dec. 12, 1980 _._-._2::e_ s .-�__e �1'•�d ','itie Date Re:vi d s (Please t«e) (Use adci ticnal sheet if needed) F J.' FD??: endorses the concept of Nursing homes and Intermediate Care Fi-;cilities only when an individual is not capable of rer•,aining in their Own hcne., The Area l:cency on i,ging located in Miami should be contacted in order to provide .a coordinated approach for housing the elderly. District XI The provider.must obtain a certificate of need for the skilled ni._ s ing beds. There is a. cr} tical need"i�n Dade, County for arci tion..l cor,c3rec3+ite ivy ny- c._ —� - rD?':S-it-05-OS #Y4i1�?'.q',x!aYii'e�::.�.a.�e�:aC,`.�.W:M+y✓.'�'''��4'Y��3,��-eS�•'•'.•��,: i- �:���I.:... .:�)�-k.:i-iy" in:•. �..'•11e:4-:.•�+:t)!iliRll�7lK•tt�.1rA4�.Y.+1FC•vthM�s;�SF%+Mv9!+ '�'�+Aeni�tQar'LAY.hi-. I ' METR0FCUT,4N DADE COUNTY, FLORIDA METRO !(�DDE PLAN. h!l��.rs DEPARTMENT Suite 900, Brickell Plaza, 909 S.E. 1st Ave., Miami. Florida 33131 • 13051 579-2800 December 81 1980 11s. Barbara L. Petei son Assistant Vice President 217-1 Ponce de Leon Boulevard Suite 1000 Coral Gables, Florida 33134 Dear "s. Peterson: Pursuant to this Department's responsibilities for evaluation, review and coordination of local applications for Federal assistance programs, in furtherance of the provisions of the United States Office of I•Ianage- ment and Budget's ;lem orandum A-95, this agency has reviewed the following application: rr ,pawl of Jackson Totters Nursing Nose to construct 8 story building with 288 bed skilled and basic care nursing facility and 575 beds of ICF congregate care at 1400 NW 10 Avenue, Miami, Florida. In terms of the three reviews embodied in the OMB procedures, our find- ings are as follows: 1) Relationship to Area -hide Plans Our review indicates that the project is consistent with the goals, objectives and policies of the Compre- hensive Development !faster Plan. 2) Relationship to Other Local Programs and Projects Certificate of heed issued in June 1980 by the }lealth System Agency of South Florida. 3) Adequacy of_Environnental Impact Considerations In our opinion, the proposed project will have no detrimental effect on the environment. iv.di44:N'+�+•�iAnA7�K•iL"FhNArk'A�:C+�'M�!'�i.!1.+i�R�►i.p�i�'h4Y'+'. �..'.:.:. ,...... w,w.. . {•. Its. Barbara L. Peterson ( 2 - December 8, 1980 Based on the above conditions we find that the subject project is in substantial compliance with the adopted Comprehensive Development ;'taster Plan. It is not in conflict with other local projects and environmental impact considerations are adequate. It should be noted that this agency's comments for purposes of compliance with the Office of :anagement and Budget's 'temorandum A-95 do not constitute an approval of the proposed project in terms of more specific County or municipal codes and ordi- nances. Sinc-rel P. -iF, ,. halters, A I C P Planning Director Rfi1•:: SR:::1 eg cc: t;. Barry Peterson, Executive Director, South Florida Regional Planning Council James Reid, Director, City of ;Iirimi Planning Department METRO-`,- %'•. DADE 1 _ 'J'.' _ _ _ METRO- m DADE DEPARTMENT OF HUMAN RESOURCES cof "r. ''ona]d ':i'Lc Iie11 _a1=_ 7d ,r.0 c2 n _ ! in t•h: Allaoact ah �Crh,-Ca _ r �t _ - ' - -',<-: t _:1'_ a : tr•; , , and �t.h Court ad- an- t� a�T:.r -,n,:coa a.r_a_. bw?1 eve op.,,.: n� :_ct cn Grant .yppliCat] On sho;'.-s a n, n-r_ :: o= I cU- to CE C1, t _.i i� "4- 5 jObS for the City. ar�- d-_ f; n ti a-, lo•:: and r.:o,a ra income. jobs of 1%hich 150.4 d a Cam_._ n;_ .. = ob - , or 40, " of that group. This amount could ri:. to doubt- hat by thi li.:> nl_m. �o be o::7,t4blishcd by Spc�cia- 1,.._ :ncnsor: d b- th.- Privat:j Industry Council. ?•'r. tci. _11, o:m_r-d v�lop =r of Jackson Towors Nur..in�, and Rehabi- 1_; ttn C ant;-r hao ol•_dged to bceomt- a CETA Partner as well as to ovor- hi -v,. hi^ Affirmat4ve fiction goals. This facility will brim; an es- t r::at i_d rniri_irr�ur. :3,?,,J1,G50 dollar payroll to the Inner City. All coopera- tion ::ill be �;ivcn by our CETA office to coordinate and assist in the J, n -c ...•nary train imm, prograa,.io Sincerely yours, Bcrmlie L. Dawson, Director B LD/mh N(-)Th: Our change of address-6660 Biscayne Boulevard-Rm. 116 r ill MW (O-V M&IM0 JOSEPH R. GRnSSIE City Manager February 22 , 19 80 D.A. 'Mitchell T:ssociates 1 300 111.7 19th c, S)iite 16•-C Fl. 33135 Dear Mr. ',i tchel l: The City Planninc, t has revicwed your prelimi- nary proposal for the cievelc�, r,(rnt of your property located betwcen N 8t•h Court, 9th Avcnue, SR-836 and N' 15th Street. The proposc,d vise of this site for a nursina home and rebated health facilities is consis- tent with the over, -ill redevelopment strategy for this area. The City Planning Department will support ap- plication for zoning, modifications to the site for the hef.orementioned uses. Sincerely, • Jim Reid, A I C P Director Planning Department JR:MS: mb PlAhNNIN ', I)IPARIIJINi 3►4: Pan rlrtne•rudn Drat• , PO Box 310708 Miami, Ilnnda 33133 I3051 579-60136 Jim Kill). AI( P. Dirr-r tur :�-.:r,3www:.;.*�k�.aNuc�M7�%ws�.��r�t�t'�i!'a�G"tt�Kt:c'ha,�+fsk+.�;iti.iP; ��AcAc.+;•�ii.�.� '' p ws:�•+,ti�i:,o OF IE SErVICES 0: F 1 C E OF CO^i;tTtiITI N DICA:j FN.C1LIT1 S Certificate of Need Number 1283 A. APPLICAINT Mr. Donald A. Mitchell, President D.A. Mitchell Associates 1400 N.W. loth Avenue, Suite 16C Miami, Florida 33136 C . -UC'.-ION GF P aDJECT (Cc :.r t :, ) Dade E. TISSUE LATE June 11, 1980 B. PIRGi-ECT DESCRIPTION Construct a 288 bed (144 SNF 6 144 ICF) nursing center in Miami D. CCST OF PROt7ECT $5,793,05,6 F. June 10, 1981 i. The need for this project is jl:stl-ied h\' she fin^'.i.�CS Of - b}' the Department of dealt:, and Rehabilitative Services it context Nyth procecures and cl:izeria ceflned in Sections 381.493-381.498, Florida Statutes and Chapter 1�'-5, Florida Ad:-;inistrative Co e. 2. The approved cost of the project includes all capital'ex enditures chargeable to the project. You are advised not tc exceed this approved cost without prior approval of the Department of Health an(] Rehabilitative Services. 3. i 0't: are advised that, ,,:,,thin 30 days of the date of issuance of this certificate, any person may request a public nearing for purpose of reconsideration of the issuance of this certificate by the Department of health and Rehabilitati%?e Services and that such hearing may be granted upon show cf .^.ccd cause pursuant to Ruie 10-5._'r�n� '1^�c, ?:d; i^ictrati�e Code and that persons whose substantial —interests are afLectec by the issuance of this certificate may request an administrative hearing-,ithin 30 days pursuant to Rule 10-5.06 (8) , Florida Admire strative Code. 4. A. Section 381.494(6)(f), Florida Statutes, states: "A certificate of need shall terminate 1 year after AP the date of issuance unless t4,e applicant has commenced construction, if the project provides for construction, or incurred an enforceable capital expenditure commit- ment for projects not involving cor.str,-,ction, or unless the certificate of need validity period is extended by the Department for an additional period of up to 6 nontns, upon showing good cause by the applicant for the extension,." (Over) APPLICATION FOR LICENSE ADULT CONGREGATE LIVING FACILITY Under the a-thority of Chapter 75-233, Lags c Florida and C:,arter 1OK-6 of the Florida Ad• ininistrative Cade, a=711c3ticn is h,ir2 by naG3 to creratn an Adult Congregate Living Facil- Name of Facility Name OE �Facility .:weer JhCr Jt.�. TL..L" ,1 �: Ja .v u (_lJtSj.ii-; �Ni i� -10CF 5L',y TFj,4Ei:J L, T L C 7 1 :1 Street Address/"P.O. Box Zip Code Cit1 Street Address/'P.O. Box 1 %.r,; 1L h Ave Suite 1EC County C & .1 S tate Zip Cc i, F..cric.,a 31 (. Telephc e ilt.. er ( y. } �, ..,l•,: ', If Ccz-poration, :Ia.:.e of Chu -der Ne=ber �•/r+ For Profit 1' yes no .ac,_.ty awn er:,riL :.S co..L.or t..Cn r t....:.,., g..ve n a7,o a.^d ad..ress o President secretary Vice -President I Treasurer -- 1. CLeck cer',ices .rovided by facility: _ Fiousiag X Enotl--nal Security X Assistz-nce with dressing X Food directly. Y Housekeeping X Assistance with ambulation X - Food through third L arty Ccm-anionship X Assistance in securing Su, er-vision of residents X Other Personal Services X necessary health car: X Assistance with eating X Superrrisien of self- __ - Assista.nce with bathing r; Fit> ' i c u E. cu " X administered medicatier. X 2. Resident -'al capacity of facility 4 �; 3. Current n��-zber of employees 1 Licensure Period: S1,c•nc:) 19E?_ to , 1.9 Fes: MO. day mo. day A check in ou-nount of $ 11,f._._C?t: statutory license fee is attached. I, r r t ? hereby swear (or affix») that the statements in this application are true and correct and that to the best of my knowledge and belief all perso i~Z ownership or employment are of good moral character, and that the ownership possesses sufficient f, ds _o operate the home i.i a satisfactory manner. V% t%6T ` ve".) r CW UVOM 8l t�`tA 1a'. Sd l'�o Xi t�csac'.�lg �3�r!►dE�s fib. die Awl W*- I SubsctiLed and sworn before me this Ith day of 19 F1 Notary public Signature of Adult Congregate Living Facility Applicant HPS Form 28 Mar 76. i�i'���i�1�:+114.Qd["�+7+i..�•.-�{i�Q�wN;;.Aatrf+iinitA•tii+�tt�ii9�1o�..+i0-d-�:::�J:JbI•SieC iYtriiMk7�1A611 - ��. l ��r . .... . - .. r. - •)...Atisr: :1Lt-� �. � •..i--'.•�-.�:r.i-, "'1 :-.'�'t •,K•-. •: Ste•-'_.�-4w'.+ibl�1..'n-f. -ti ••>:'. ., r � .f•.r.-� .. ter. .. .. .. .__ - ... .-_.-.... _.•.. — rEr.TIFICATE OF t"I f D FOR NU►,S{NG HO!,t•E 4ND A! SE1hANCE OF E N f ORCF►,',ENT OF STALE STANDARDS �s Name of Spon :or(s): D.-A. Alit c•hell Assm-iates - ----_-,-- TO THE: FEDERAL HOUSING Cn;!1'1sSlONE:R: Pursuant to the provisions of Section 232 of 1}Tc Naiionrtl Office Of C OMmunity Medical Facilities, d f• hit'T)t. of Ilt'::l {� dc,.r 1•.tt•d In accordance Elow,ing Act, ar, :,;:Ivndf this. :, vr1c}' t11 hC'h•-h111i4i�IVC_� f u�rr or .4, rat)/ Svcs. with Section 612000) of tilt• Public licalth Service Act, certifies, as follows: (1) Thrrc• is ., nf'cd fu: a Nu:sinF Hotne of .-',9H number of lrt•ds to be located At i (,(,c i�. ``'l'. 1:?tlr St rc C t, 1li:tlni, 171 jd I — t (, (2) Tl-t-rc :,rc• in f(,tce in the• state (or trih(r I t lilic al :;uhdivi ;ton of the state in which the propw, ed `:u; •inl Home utll l,c lt,c aivdl tf•;) .[ n:,hl( rr.irlir. urn �t;,nr,;,rds of Iiccnsutc• :,nd n,ri}Tods of opurB- lion for '�;,: •tat, H( (3) Tl,t f,. r-i: 'il-d .,rd , of 11 r'r ur, '11)d t,1u•;:,t lon "Ill lit, :,1•pli,_•d and unforccd -'ill, tt••.1,t•ct to ills .,; �,(.,ni Ku. lr.l•, Hurnc. (41 .,,, IIr)1 l ..r1,,:. i .,n' o: I.[..,r., if .(n}• c ems-•= c� / �, �'c�J Ctie (7f ',(.(_'d 1 l�ctillc C1TMlinistrator _ 7",tic Office of health Planning and I)e%,elo ;Ient, Health and _Rehabil- i t ativc• SLlr-,'IL`L5, State of F Lori 1 f. t' l t'rl if 11 .,flan ofnr•r•( !,(.I fort). In (1 .+lrU�'l' 1`. 1,:+`•('d (in (,I1t 01 :nmt• of tllt• follo..k inf C ( 1T? Inf rll lhn.i: t:l;,tiorl l' .,-. 1112101t r of :,rc el t.,blr bt ds, [ ►X (l,} Yrr.t ni :,�t t.,l,, (,c ct:l:,rTcy of "Skills d Nurr,iof' Ijumest' in :,rea. (c) I': ; ::!:,!i ,t tIt- r,d in :,rca (inc ico-'e f j (let rr.':,se ) NOTE: hflcr c(,:::1Jctlun t}:is form to be rn:,iled by ccrtifyiot; St:,lc afcnc} dirrctlq to FffA insu:in� n(ficc in self addrr-,m-d cn,,clope. HLT-' D. C----- ------ ---'FHA FORM NO 2576 P—.. 4/66 PART II DESCRIPTION OF PROPOSED PROJECT SECTION A BRIEF SWiMARY OF PROJECT AND ITS PARTICIPANTS JACKSON TOWERS NURSING AND REHABILITATION CENTER will be a 720 Bed multi- discipline geriatric health care facility. It will be seven floors of some 188,800 square feet of the latest thinking in elderly life care and inclusive of individual dignity and quality of one's final months or years. It will be located on two plus acres at Northwest 9th Avenue and 15th Street, City of Miami, in the environs of the Nation's sixth largest Medical Center. Adjacent is the National Foundation for Parkinson Disease. A Kidney Dialysis Center is a block up the street, as well as Bascom Palmer Eye Institute, Papanicolaou Cancer Research Institute, etc., ad infinitum. Sponsor- and original developer of this facility is Donald A. Mitchell, and individual Miamian of twenty-nine years, and owner of the current real estate. Mr. Mitchell is a licensed Real Estate Broker, Mortgage Broker, Certified Property Manager, and State General Contractor, also known as D. A. Mitchell Associates and Caribbean Realty Group. The other sponsor is Security broperties '30, a State of Washington general partnership, which will become a co -general partnership with Donald A. Mitchell. Security Propertics"Ois composed of eleven partners, including the sole stockholder of Security Pacific, Inc., a ldashington corporation. Security Pacific, Inc., and its shareholders, directors and officers, as individuals, are participating as general partners in over 230 partnerships formed since 1971 for the purpose of owning and operating government assisted multi -family developments. The site is flat, already cleared, properly zoned, and has all utilities at curbside. In the surrounding neighborhood of the health care facility, there is a 288 unit elderly housing project, "Claude Pepper Towers", a 151 unit subsidized housing project, "Culmer Plaza", and a 104 unit elderly congregate housing project, "Highland Park". The facility is in a "blighted" area of the City of S Miami, a pocket of poverty, a Community Development Block Grant are, a targeted tandem area, and is in Allapatah Neighborhood Strategy Target area. � The total project cost is $14,360,458., for the entire health care facility. Action Grant dollars will be used for: an additional piece of land, off -site costs, tax exempt bond issuing costs, parking structure, architectural fees, FHA mortgage insurance premium, examination and inspection fees, FNMA f fee, mortgage financing fees, and bond premium costs. These total $2,168,000. The source of funds for financing for the project are as follows: 1) Investment Bankers (One of three commitments, see end of Section II B) have given a commitment to issue Ten million dollars of revenue bonds upon the receipt of a necessary UDAG Award. 2) The commitment of the sponsor's equity partners, Security Pacific,lnc of $1.75 Million. And, 3) Developer's contribution of his builder's allowed profit of $424,458. These, along with the UDAG Grant, total the project cost enumerated above. The key participants involved are two: 1) The sponsor and original developer of this property, Donald A. Mitchell, and individual Miamian of twenty nine years and owner of the current real estate. Mr. Mitchell is a licensed Real Estate Broker, Mortgage Broker, Certified Property Manager, and State General Contractor. And, 2) The other sponsor, Security Properties '80, a State of Washington General Partnership which will become a co -general partnership with Donald A. Mitchell. Security Properties'R)is composed of eleven partners, including the sole stockholder of Security Pacific, Inc., a Washington corporation. Security Pacific, Inc., and its shareholders, directors and officers, as individuals, are participating as general partnersin over 230 partnerships formed since 1971 for the purpose of owning and operating government assisted family apartment developments. (2) SECTIO14 B DETAILED PROJECT DESCRIPTION 1. STATEMENT OF PROBLEMS AND OBJECTIVES Miami's most serious economic problems, a declining economic base and high levels of unemployment, are particularly troublesome for its low income minority population, whirn is quite large, even for a major metropolitan area. Four measures of fiscal well-being are: medium family income, property tax base, unemployment and employment by major sector. All of these are indicating a worsening fiscal situation in the City of Miami. The medium family income of City residents has declined over the past twenty years, as a percentage of Dade County family income. Another significant economic indicator for cities is the property tax base. In Miami, it has continued to grow, though at a much slower rate during the past five or six years. This slower growth has occured at a time when the cost.of providing city services has rapidly increased. At the same time, property tax growth in Dade County is consistently higher than in the City. Hence, the City of Miami finds itself in the difficult position of providing increasingly more expensive services at a time when the revenue from property taxes are growing at an increasingly slower pace. The City recently increased its tax rate to ten mills, which is the State imposed limit for municipal government. Given the serious employment situation in Miami's target areas, a policy of upgrading and expanding neighborhood employment opportunities seems to hold promise. The City of Miami is therefore initiating economic development activities in several specialized activity centers, including the garment center and the civic center. The civic center is a subject of a market study to examine the potential of undertaking a number of joint public private developments adjacent to the complex. Consultants are working on a redevelopment plan which will include zoning changes to encourage desirable new private development. In addition, the consultants are putting together detailed development packages for four specific sites, which they have selected. One of which is the subject of this application. The study participants believe that the civic center area, which employs approximately 25,000 people at the medical institutions, and in government,has not experienced the volume of diversified development that the area is capable of supporting. The type of employment that would be created, though largely service related, would not be heavily impacted by the economic downturn in the same manner as tourist oriented services are.. SEE ECONOMIC DEVEL. STRATEGY END EXHIBIT IIB ( 3% SECT 1 ON B DETAILED PROJECT DESCRIPTION 1. STATEMENT OF PROBLEMS AND OBJECTIVES Miami's most serious economic problems, a declining economic base and high levels of unemployment, are particularly troublesome for its low income minority population, which is quite large, even for a major metropolitan area. Four measures of fiscal well-being are: medium family income, property tax base, unemployment and employment by major sector. All of these are :ts' indicating a worsening fiscal situation in the City of Miami. The medium family income of City residents has declined over the past twenty years, as a percentage of Dade County family income. Another significant economic indicator for cities is the property tax base. In Miami, it has continued to grow, though at a much slower rate during the past five or six years. This slower growth has occured at a time when the cost of providing city services has rapidly increased. At the same time, property tax growth in Dade County is consistently higher than in the City. Hence, the City of Miami finds itself in the difficult position of providing increasingly more expensive services at a time when the revenue from property taxes are growing at an increasingly slower pace. The City recently increased its tax rate to ten mills, which is the State imposed limit for municipal government. Given the serious employment situation in Miami's target areas, a policy of upgrading and expanding neighborhood employment opportunities seems to hold promise. The City of Miami is therefore initiating economic development activities in several specialized activity centers, including the garment center and the civic center. The civic center is a subject of a market study to examine the potential of undertaking a number of joint public private developments adjacent to the complex. Consultants are working on a redevelopment plan which will include zoning changes to encourage desirable new private development. In addition, the consultants are putting together detailed development packages for four specific sites, which they have selected. One of which is the subject of this application. The study participants believe that the civic center area, which employs approximately 25,000 people at the medical institutions, and in government,has not experienced the volume of diversified development that the area is capable of supporting. The type of employment that would be created, though largely service related, would not be heavily impacted by the economic downturn in the same manner as tourist oriented services are. SEE ECONOMIC DEVEL. STRATEGY END EXHIBIT IIB ( 3i To summarize the communities strategy for the project's goals and objectives, we expect to attract private investment by UDAG funding which will leverage $13,000,000 private investment in the development of this facility This project will support inner city revitalization. The project located in the civic center and at the boundaries between Allapattah and Culmer target areas will greatly impact those depressed areas. This project will increase the tax base by over some $13,000,000 in taxable valuation and provide an estimated $408,960., in annual property taxes from the proposed facility. The new health care facility will provide some 350 jobs during the construction period of some twelve to sixteen months and thereafter, some 442.5 permanent jobs. Many of the construction tasks, as well as the majority of the long-term permanent jobs may be performed by low and moderate income workers. Most of these positions will be met by the inner city's residents, improving their economic base for them, their residences and their families. More specifically, we expect the following public benefits to be considered objectives. a) It will focus development trend in the inner city area in a desirable manner, and encourage adjacent development. b) It will strengthen the demand for retail districts nearby. c) It will enhance the efficiency use and therefore the cost effectiveness of the new Rapid Transit System, which will have two different stations within three blocks, south and west. d) It will enlarge the economic base of the city. e) Increases tax revenue to the city. f) It is strongly synergistic with the civic center and helps to enhance the value of the city's investment therein. The owner/developer of this project has purchased his land some seven and one-half years ago, and has been attempting to develop through private development a project since that time. With the high cost of both city and county taxes as well as parking requirements and increasing construction costs, it is necessary that assistance be given from the Federal level which will, of course, greatly assist the city's economic status. The interest rates for today are in the neighborhood of thirteen and one-half to fifteen and one-half per cent, whether for conventional financing, or for tax exempt bonds, for a non -rated bond issue. The Dade County Industrial Development Authority will be assisting the project with the issuance of tax exempt bonds. It is also necessary for these bonds to be at a feasible rate of ten to twelve per cent to have the insurance of housing and urban development project mortgage insurance; along with the restrictions on the size of the issuance, it is necessary for the UDAG Grant amount applied for to make this project go. 2. OEDP CONFORMANCE NON/APPLICABLE I 3. PROJECT FEASIBILITY ANALYSIS: Please refer to HSA Staff Review, Public Hearing, and issuance of State Iof Florida License =1283 Certificate of Need for Skilled/Intermediate Care Facility. The additional aspect of the frail and infirm elderly beds for the upper three floors are in dire need in the community. Florida has the highest concentration of elderly population now in the nation. The waiting list for this category of aged beds is immense. Florida Health and Rehabilitation Services Division Adult and Aging Services has added the second level that requires personal care of the aged. Informal feasibility of this aspect continues to confirm the great need. A national consultant house - Amherst Associates - and of the big six ithat were considered, are standing by to provide a formal feasiblity report concluded within ninety days before the underwriters bond sale target date. iI 4. a) DEVELOPER (s) AND OTHER PARTIES: The prime developer, Donald A. Mitchell, has been involved with mixed use conventional projects from 1958 - 1972. He has had this health facility in the planning stage since Aguust, 1978, and accomplished the HSA's Certificate of Need personally. He will procure a large nationally recognized medical management corporation firm, rated in the top twelve in the United States, for a twenty- year management/operating lease. They will have superior expertise and will effect efficiencies due to their 4,500 - 30,000 bed yearly operating responsibility. SEE RESUME END OF SECTION 1113 4. b) The co -general partner, Security Properties including Security Pacific, Inc., as equity investors, have participated in over 230 partnerships since 1971, with equities amounting to $124,551,084. While mostly in subsidized and/or elderly projects, their ten years of legal and fiscal management expertise will well serve this project for their livision of responsibility. SEE RESUME END OF SECTION 1113 4. c) The Developing General Partner, Donald A Mitchell, has primary res- ponsibility for all decisions through building, developing, initiating operations — and final FHA closing. As owner of the land under the facility in fee simple, he is the lessor of the land for a fifty-five year net net lease to an owning entity, JACKSON TOWERS, LTD, to be formed. Donald A. Mitchell, also known as D. A. Mitchell Associates, as Developing General Partner, has full managing responsibility until a long-term operating lease is finalized with a national medical managing/operating firm. Security Properties through Security Pacific, Inc., becomes the Administrative General Partner at the completion of their partnership structure. 4. d) SUMMARY: The land leases will be negotiated after appraisal values by FHA are established for a period of fifty-five or ninety-nine years. This will be done by the developer as lessor to the facility owning entity (partnership). The medical operating net net lease will be negotiated as soon as the search and evaluation of the available top ten major companies in the United States is complete. It will be a base lease with suitable escalations for inflation and a percentage of the net operating revenue. There is no relationship between elected officials, city employees, or their families, and any party to any transaction in the proposed project. Other projects such as staff housing or elderly housing which the developer might become involved in the area would be expected to receive a ripple effect by virtue of having earned seed development capital through the land rent r to this project. 5. CONSULTANT (S): Of the large CPA firms and Amherst Associates, who have been consulted with, one firm will be chosen to do the formal market and feasibility studies and formation of opinion necessary for the bond underwriter to satisfy his market in the sale of the mortgage revenue bonds at that time. SEE SAMPLE PROPOSAL, APPENDICES (4) I The Certificate of Need process with the Health Systems Agency which was done earlier satisfies a major portion of the program planning. This, along with the ongoing in-house update of feasibility studies continually confirm the continuity j of the project. I SEE STAFF FINDINGS, APPENDICES 6. a) PROJECT DESCRIPTION: The JACKSON TOWERS NURSING AND REHABILITATION CENTER will be multi -discipline, modern, geriatric conept of humane, progressive health care for our frail, w inform, and often sick elderly and handicapped. It will consist of a seven -story concrete structure of twelve wings of some thirty rooms each. There will be 120 skilled nursing beds, 168 licensed intermediate care beds, 72 handicapped beds, and 360 elderly care beds. Each wing has its own murisng or supervisor's station, elevators, and lounge areas. The ground floor of approximately 27,000 sq. ft., contains all the ancilliary and therapy servides (see FHA form 2013, Line 28), kitchen, dining, recreational and all necessary staff and administrative services. Thre are pleasant outdoor and indoor recreational spaces, as well as provision for educational,social and religious programs. Needed or recreational transportation will be provided to all residents, including wheelchair handicapped congregate, who might have a job. The project complements other elderly or aged facilities as long as waiting lists exist for both private as well as church sponsored facilities. Many hospitals are unable to discharge patients as no Medicaid beds exist within hundreds of miles. Donald A. Mitchell and SecurityProperties retain ownership for the facilities developed and share operating responsibility with the yet -to -be chosen major management lessee. 6. b) SITE INFORMATION Tract A, 2.17 acres of JACKSON TOWERS SUBDIVISION, will be leased to the operating partnership by the owner, Donald A. Mitchell, for a period of fifty-five or ninety- nine years. Tract B, .58 acres of JACKSON TOWERS SUB -DIVISION, is the subject of negotiation with the Childrens Home Society of Florida, and is expected to conclude as a sale or lease from them to the operating partnership. The tentative sub -division is bounded by Northwest 9th Avenue, Northwest 8th Avenue, and State Road 836. The site is adequately served by the roads just described, plus a new Highland Park Drive, about to be constructed, diagonally by corner of saite. Also under construction is rapid transit, ahving two stations that will be within three and one-half blocks. Waterlines of twelve inch size, sewer lines of fifteen inch size, plus electric and gas services are all curbside to the project. (5) Gd) ADMINISTRATION For administration and contractural re]-ationships please see answers 4.a.b.c. & d. on l)age 4. Ge) :NECESSITY OF ACTION GRANT GS7NCi7AL CONTPACTING f3UILOER - OEVELOPER PROPERTY MANAGEMENT t a CF-P!CES SUITE 16•C 14-- N W TENTH AVENUE D. A MITCHELL. CPM 61WV.I. P"LCRIDA 33136 (30S) 324-7211 PRES DENT TO WHOM IT MAY CONCERN: I, Donald A. Mitchell, owner and project developer, do unequivocably state that in my opinion, and that of my associates, that unless an action grant (or comparable funding) is received, the project will not proceed. Furthermore, (,Donald A. Mitchell,do also state that upon the approval of a UDAG Grant (or comparable funding), that I will proceed expeditiously and diligently to accomplish the construction and operation of the Health Care Facility described in this application. Yours respectfully, Donald A. Mitchell REAL ESTATE -4ROKERAGE , MORTGAGE BROKERAGE PROJECT FINANCING SOURCES AND USES OF FUNDS FOR PROPOSED PROJECT 7. a) Private funds of S2,174,453, along with tax exempt bond sale of $10,000,000., net totaling S12,174,458, will fund project cost with the exception of IIDAG funded costs of $2,186,000. The Urban Development Action Grant of $2,136,000 would be used for ten different authorized needs of the project. Space is insufficient on UDAG Form 1 to itemize these so they are listed herein: S310,000 1. Additional .53 acre land (which includes a small social service office building of 5500 sq. ft. $ 68,000 2. Esti!iated off -site costs as required by the City of Hiami for re -platting land 'lor project. 5268,367 3. Bond i55uing/sales costs of bond counsel/underwriter, etc. S251,633 4. Auxiliary parking structure and surface parking. $505,905 5• Architectural design and supervising fee for project. $233,230 6. FH4 mortgage premium, exam and inspection fees. $194,000 7. FNHA project fee S259,200 Hortcaage financing fee. S 81,615 9. Building bond premium. S 14,000 10. Administration. "•EE UDAG FORM ..1 ATTACHED (8) UDAG FORM 1* (Part 1) SGUrCES At;0 C'SE7 r7 .....;G; -'I'? PpC„rCT A w In5truct:i, ;no: For crojectr, which ccn-,ict of only one tran-,actior.c, cc-,plete L:113 Y, ,e cr.11 Fcr , �o3„cts with :~,.iIt i - le t..:r:c .coon_ , ecru_ lets t , : p;. c an a suer ar; and a c.,Ov o`. ;;:srt 2 fog -„,-h SOURCES OF FUNDS Otne: Ur:H i Pry'ra::e Fu:; taI Lin-- item Funds FunC: (S_ c 7 a.= �)�o Jf2paration, :31C,--CC ond, Bu51nesses c. C.earanr_c and L'•770.:. 7 P'.! yctr Citn L . �J 1. i :.. .� U v C. - I^_ _ J.e�ents in4j. Lrr. �I „63 r'v �..' i �, 7 w_c ., .� _ �216,317 c. 1,at e-- a,,,-.' �1 .; •rrer Fac_Iiti�c 5 , L ; "7 59 , 9c,7 pIati0rn:s ; 72 7 , 17C w727,170 Fac;iitics 4 �251,613 b ` i. C4:;itaI Ecuip!nCr,t . j Profossicnal Fees „42:.,455 _933,363 J 1 k. Real Estate Taxes, Ccr.structicr� 1,457,000 period I:t:crest, OrganiZatien 51,457,000 Ccsts, etc. .,LTI14;TY (.L" LI37L-: - nTT„C�r' L�,�:, �Ytil �T .1 C:3� 4� �1►0 ► _ Lr .CC. Fi' �ltl IL ITS — C — w6,9G9, 491 r6,9b9,491 .. n. Adnir.istraticn 14 000 _ - 14,000 o. Cost Subtotal (Sum of lines a.-n.) ;:2,13L,0C :1C,86911 8 513,G55,15e p. Conti.r.cencies 1�; ,:, + inclured 1,305,3CO 5 1,305,3CO tt q. Totals by Source (Sum of lines o. + P. 2 1 E6,000 512,174,45o 514036C,450 r. Prcr�ra:: Incc.me frcm Land r 0 - l Disposition - 0 -� ` - j TOTAI PRCJECT COSTS 2,1©t;,DOL ; 14,360,g5g (s. (Sara of lines q. + r. ) *This fora constitutes the respcnse to Part II.H.7.a. Page 1 of (9) ESTIMATED LEVERAGE RATIO 7. b) The Estimated Leverage Ratio resulting from the private investment and private debt from lender versus the UDAG Grant is 5.57:1 SEE UDAG FORM 2 ATTACHED (10) ODAG FORM 2* ESTIMATED LEVERAGE RATIO Instructions: For projects which consist of one transaction, complete this form. For projects with multiple transactions, Complete a separate sheet for each transaction and a sheet which summarizes all transactions. Check appropriate box: © Project Summary (� Transaction No. Name: TOTAL. PROJECT OR TRANSACTION COSTS 1. (If Summary, take from Form 1, i14,360,458 Part 11 Line s. If Transaction, take from Form 1, Part 2, Line s.) INFLOI,S: Builder's profit 5% i 424,458 2. Private Investment Security Properties ' 30 E 1,750,000 3. Private Debt from Lenders E10,000,000 4.,Subtotal--Private Sources (2+3) F12,174,458 5. Action Grant C 2,1B6,000 6. Leverage Ratio (4-5) 5.57 1 7. Other Sources (e.g., other federal, state, local, and _ 0 _ project income) S. TOTAL INTLOWS (4+5+7) should equal total outlays (Item 1) $14,3E0,458 9. Additional Spinoff Private Investment Anticipated as a Result of Project *This form constitutes the response to Part II.8.7.b. Page I of 7. c) (1) DOCUMENTATION The signatory, Martin M. Madson, is a Vice President of Security Pacific, Inc., and as such, has committed his organization innumerable times to similar under- takings over many years. The Department of Housing and Urban Development finds their documentation acceptable. SEE BROCHURE, APPENDICES The private fund commitment of$1,750,000 is from Security Pacific, Inc. The source of funds are from private investors who make up Security Properties, '80. Terms and conditions will be outlined in a standard negotiated partnership contribution agreement between Mitchell and Security Pacific. Funds are used toward total project costs. They are forthcoming on the schedule: One-third of funds at initial HUD closing, one-third at fifty per cent certified construction completion and one-third at final HUD closing at finish of project. SEE COMMITMENT AT END OF SECTION 116 Tax exempt mortgage revenue bonds for $10,000,000 will be authorized through Dade County Industrial Development Authority and underwritten by a national . bond underwriter (See 7. d)). Additional private capital, if needed, will be furnished by the developer, Donald A. Mitchell. The UDAG loan requested is $2,186,000 and will be used for items necessary for successful building of the health care facility. The ratio of the UDAG is $1 for every $5.57 of proposed investment. To better the chances of receiving UDAG assistance to build this 720 bed health care facility, repayment is proposed over thirty years at three per cnet interest. SEE UDAG BREAKDOWNPREVIOUS PAGE Construction jobs during building over sixteen months will be 350► permanent full-time jobs to be established in the new facility are 442.5 and a payroll in excess of $3,461,650 annually. The jobs will be mostly minority residents from the inner city. 7. c) (2) FINANCIAL STATEMENT - The personal financial statements of the eleven individual General Partners of Security Properties 180, including the sole stockholder of Security Pacific, Inc., are herein presented, along with with General Partner, Donald A. Mitchell. Balance sheet of Matthews and Wright, Inc., as a bond underwriter, is also presented. SEE STATEMENTS END OF SECTION 116 7. c) (3) LOAN APPLICATIONS The application to Housing and Urban Development in Jacksonville for $12,960,000 in Project Mortgage Insruance under Program 232 is enclosed. SEE HUD APPLICATION, APPENDICES -W (12) The application to Dade County Industrial Development Authority for issuance of $10,000,000 in tax exempt mortgage revenue bonds made 2/18/80, is also enclosed. Their approval and participation in the $1,360, 458 total project costs is predicated upon the successful approval of a UDAG grant and/or loan. SEE IDB APPLICATION, APPENDICES 7. c) (4) RECAPTURE - The $2,186,000 UDAG will be loaned by the City to the project developers at 3 interest for a period of 20 years. The yearly debt service will be used for economic development programs with- in riot affected areas consistent with the recommendations of the City's Economic Adjustment Plan and Comprehensive Economic Development Strategy. 7. d) EVIDENCE OF COMMITMENT FROM PRIVATE LENDER The Wall Street firm of Matthew and Wright, Inc., has committed to the financing of mortgage revenue bonds in the amount of approximately $10,000,000 over thirty years at the market rate at time of sale. This is for the purpose of furnishing the major portion of the project costs of the 720 bed health care facility to be constructed by Donald A. Mitchell. This commitment also is predicated upon the issuance of a UDAG and/or loan. SEE COMMITMENT AT END OF SECTION I I B SEE BROCHURE APPENDICES 7. e) OTHER PUBLIC FINA14CIAL ASSISTANCE (1) Funding information SEE UDAG FORM 3 ATTACHED (2) Debt Securities: Pending SEE IDB GUIDE, APPENDICES (3) 7. f) ADDITIONAL FUNDS (1) For alternative to Investment Bankers commitment, I would utilize -- any one of three additional investment bankers - SEE EXHIBITS AT END OF SECTION IIB (2) For alternative to Equity Partners commitment,in case of unforeseen circumstances and for the purpose of this Section, any one of a dozen other syndicators would be most pleased to join as general partners and market the tax shelter available, i.e., Sybedon, NYC, Blythe Eastman, Paine -Weber, Continental Wingate, etc. Participation also could be negotiated with the medical operating lessee to commit the equivalent private funds in exchange for a long term lease of the facility. There are a number of such regional and national concerns awaiting out timetable. SEE MANAGEMENT COMPANY SAMPLES, APPENDICES (13) a proposed project. Funding Statue 1 lmmitted (F) Pending cc! Application not Submitted (H) x x Page ! of .,.1 8. a) TIMETABLE 8. b) APPROVAL SCHEDULE (1) (Combined) (2) PROJECT SCHEDULE SEE BAR GRAPHS) SEE SCHEDULE ) ATTACHED NOTE • ENVIRONMENTAL: a. Please refer to HUD letter 1/8) Don Odenthal regards environment clearance b. Site is located on the Flood Plain C and A-14 so developer warrants A-14 portions will be raised 1 -2 feet so entire site will qualify as 100 year Flood Plain C. c. Refer to form A-95 (824) and City, County and State replys found in Part I. d) City Sewcr- and Waterand site plan review are enclosed. SEE LETTERS ATTACHED (15) 8. a. SCHEDULES PROJECTED TIME SEQUENCE OF PROJECT HISTORY Acquisition of Land Site 94,545 s/f June 15, 1972 Application for Certificate of Need Fall, 1978 288 Beds to H.S.A. Issuance of Certificate of Need P 1283 June 11, 1980 A-95 Application filed with County & State November 21, 1980 Architects Standing Design Plans December, 1980 Florida Intergovernmental Clearinghouse December 30, 1980 Approval Environmental Clearance from HUD, Jacksonville January 15, 1981 Security Pacific, Inc., Commitment for January 22, 1981 $1,750,000 equity HUD Pre-;JAAM Conference in Jacksonville January 28, 1981 Matthews and Wright, Inc. Commitment for February 13, 1981 $10,000,000 underwriting Dade County Industrial Development Appli- February 18, 1981 cation filed Dade County I.D.B. Initial Presentation March 11, 1981 Approved Urban Development Action Grant Application April 1, 1981 Received by City of Miami for Public Hearing PROJECTED I.D.B. Second Presentation Meeting for April 22, 1981 Approval City of Miami Commission ratification of April 23, 1981 UDAG Application H.U.D. SAMA Application filing in Jacksonville April , 1981 UDAG Application review by HUD Jacksonville May, 1981 Memorandum of Agreement by IDA and May 15, 1981 Jackson Towers, Ltd Architect competion of Design and Specs May and June, 1981 Equity Partnership Agreement completed June 1, 1981 County Commission review of IDA Agreement June 10, 1981 Feasibility Consultants First Phase Report June 15, 1981 Federal UDAG Award Decision for Large Cities June 30, 1981 HUD Conditional and Firm Commitment Filing July 1, 1981 Medical Management Lease Consummated July , 1981 Bond Counsel Prepares Bond Documents July, August, September Feasibility Consultants Final Report August 1, 1981 Bond Validation of IDA $10,000,000 Issue September 30, 1981 M 92 HUD Award of Project Mortgage Insurance Closing of Bond Issue Letting Out Construction Contracts for Bid Begin Construction of Facility Opening Phase I of Health Facility Completion Construction of Facility October 1, 1981 October 30, 1981 November 15, 1981 December 1, 1981 Ap r i l 1, 1983 May 15, 1983 8,6. APPROVAL SCHEDULE AGENCY Florida Dept. of Health & Rehabilitative Services Florida State Planning Dade County Planning Environmental Protection Agency FHA Office of UDAG HRS Licensure and Certification Industrial Development m Authority v ACTION Issue Certificate of Need Issue A-95 Approvals SAI: 810756 Environmental Approval SAMA, Conditional and Firm Commitments Urban Development Action Grant SNC/ICF License ACLF License Review, prepare for sale and validate tax exempt bonds WHEN REQUIRED STATUS Before FHA Issued 6/30 For UDAG/FHA Issued 12/80 Before FHA Received 1/01 Before building Pending (if used) Approval Before I.D.B. Pending and/or building Approval Before start Pending operations Completion Before building Pending UDAG NATURE OF APPROVAL Certificate No. 1283 L-tter & Enclosures County, State, HRS Letter, Don Odenthal, Director Firm Commitment to insure $12,960,000. UDAG and/or loan State Licenses Approval County Commission APPROVING ENTITY Office of Community Medical Facilities State Planning & Development Clearing House, Office of the Govenor Department Housing & Urban Development Department Housing & Urban Development Office of UDAG, Department of HUD, Washington, D.C. Health & Rehabilitative Services, State of Florida Dade County Commission and Industrial Development Authority REGION IV DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT JACKSONVILLE AREA OFFICE PENINSULAR PLAZA 661 RIVERSIDE AVENUE JACKSONVILLE, FLORIDA 32204 January 15, 1981 Ms. Barbara L. Peterson Assistant Vice President Charter mortgage Company 2121 Ponce de Leon Boulevard Suite 1000 Coral Gables, Florida 33134 Dear Ms. Peterson: Subject: Proposed Jackson Towers Nursing Home Miami, Florida IN REPLY REFER TO. 4.6HDH (JF) An environmental noise analysis has been completed for subject project, which is proposed to be located adjacent to the East -hest Expressway in Miami. In conducting this evaluation the noise created by the Miami International Airport was combined with the expressway noise to produce a total Ldn for the project site. I%Iien combining these two noise sources, a total of 74.5 Ldn is produced for 1980 at the outer boundary of the right of way, which increases to 76.0 Ldn for the year 2000. Since the site is being proposed for a nursing home, it is assumed that the outside area will have limited use. Therefore, if 10 decibels of attenuation was included in the construction of the building, and it was set back approximately 65 feet from the right of way, the proposed site -- could be acceptable from a noise standpoint. This determination, however, s will apply oLIX if the outside area is going to be used for limited recreational purposes. In addition, the area between the right of way — and the building should be designated for parking or other similar uses, and the bedrooms in the building should also be located on the building side opposite the expressway. For your information enclosed are copies of the data furnished us by the - Florida Department of Transportation, which were used in conducting the noise analysis. We trust the above information will clarify any questions you have concerning this issue, however, if we can be of further assistance, please do not -- hesitate to contact us. Sincerely, ,- - . ,• is .; � Donald E. Odenthal Director, Housing Division �. Enclosures t n r r r i n r �, i ci" k r. I1C';]I - - - - 0, nI '1 1IC C3IJ�J ✓C I I f Cal"II1 7 L : UI1 i s cht ckt� :Cl ii11C1 1 01" accul-EiCY C)I. t} 1 Fe�/55/_tlay of 1981 by, � '41"Id J. ��� �, i:.l L., h.rchitecL 1'.I cats 1 of 1 DEC 5 1980 Florida 909 GRANAY G0VERNON Departiiient of Transportation ►hyoO' IR"'I EIJ'10'; WS Sl-#-"" S118el TOE S"AsS ! Flo, -Of 32301 Teiepeone (goo, j80 »?q WILLIAM N HOSE tAANEST W tLLIOT?, 01AECTOII 91CIIETARY DIVIS1014 Of rMANSPO1ITATIO04 OIANNIN(i November 26, 1980 CC HU14 Mr. Everett H. Rothschild Area Manager U. S. Department of Housing and Urban Development , Jacksonville Area Office Peninsular Plaza 661 Riverside Avenue Jacksonville, Florida 32204 ' Attention: Ms. Jo Ann W. Stanton Dear Mr. Rothschild: In response to your letter of November 17, 1980, we are providing our estimates of the average daily traffic (ADT) on SR 836/East-West Expressway between SR 9/I-95 and N`W 12 Avenue and the other relevant parameters: 1990 ADT = 94,800 2000 ADT =109 , 400 G.A. — A. _ K=10.0`", D=58'', 24-hour T=3.4%, design hour T=1.7%, design hour t;.n.-n. heavy T=0.3`:, and design hour medium T=1.47.. ADMIN _J These traffic data are based on historical traffic data cin _ from stations on and near the subject facility and on the r•t�n— currently adopted network (Ml .HR8,YOO Al, 2000 ADT) , dated----�-- May 29 1980, of the Miami Urban Area Transportation Study. If we cay be of further help, please do not hesitate to contact us. i.r;NT i.itiit �tt1___ Sincerely, �iRt.n�nn P. I. Clemons, Administrator r.trA Traffic Analysis 6 Forecasting P1C/RLH/cvg cc: Mr. H. D. Martinez RECEIVED HOUSING DIVISION I '" c 1 13F0 BY 10 ____ JAr1S$Ct10di tiREA OjFjCE 01 0 ""hc' Cz!'(,vk, ill f ('rnla t 1 /JI1 is ctit_ckcd cind U1 prov,2d i or accuracy U!'. '2/ a y o f 3 U J _(1 c)f 1 Florida Departinent of Transportation ♦O! GAAM%M GOv[nMOP r 401 N.W. Second Avenue Miami, Florida 33128 October 21, 1980 WRLIAM M 0099 SIC04[1ARt D.A. Mitchell, CPM 1400 N.W. Tenth Avenue Miami, Florida 33136 Dear Mr. Mitchell: This will acknowledge your traffic data request of September 23, 1980. Location/s of interest and traffic volume information are listed below and indicates traffic for both directions unless otherwise specified; STATION LOCATION: SR 836 EAST OF N.W. 12th AVE. Direction of Traffic Date A.D.T. Date A.D.T. East 8/16/79 41,100 2/7/80 39,720 West 8/16/79 41,000 2/7/80 36,150 Truck Percent at West end of MacArthur Causeway 1979-----3.25, — We trust that this infori-,ation will satisfactorily answer your request. Sincerely, =,!�.�7�T H. D. Martinez, P.E. District Planning Engineer HDM: rho Ij f of-rnct t l U11 1 S C:11d for accL11-ilcy L !'. i'.. 1 1.. , l:rchit eci- I':tcae 1 of 1 Building and Zoning Department Attention: Plumbing Section 909 S.E. 1 Avenue Miami, Florida 33130 Name of Owner Donald A._Mitctmll i Acknowledged by Building Permit Mailing Address 1400 N.W. loth Ave,Miami, Fla.33136 Applicant: Donald A Mitchell Property Address850,. N.W. 15 Street _ _ Jackson Towers Apts Nan;e and Title of Building Property Legal Description Lots 1-7 and 14.22, Block 20, Permit Applicant Highland Park Subdivision, City of Miami, — August 7, 1978 (Date) Dade County, Florida. This is to certify that the company indicated below DOES HAVE a _ 12 inch water main abutting the subject legally described property, with a none** inch lateral to serve the property. We are willing and able to .serve the subject property subject to prohibitions or restrictions of governmental agencies having jurisdiction over matter of water supply or withdrawal**The Authority will provide water -service providing all costs for main, service, water connection and sewer connection,-'c,harges, etc. have been prepwc Ili ami -Dads. t.Jsat��Se'. er_Au._thnrsty____ By: %•1, _, •..r� ��-ffi1.���n Name of Utility Company Signature of Representative Truman S. Bryan New Business Supervisor _ Name & Title of Utility Representative (Please print above) August 8, 1978 Date This is to certify that the company indicated below DOES HAVE a ',_S-• inch sewer main abutting the subject legally described property, with a inch lateral to serve the property. We are willing and able to serve the subject property subject to prohibitions or restrictions of governmental agencies having jurisdiction over matter of water supply or withdrawal. The anticipated daily sewage flow for this project will be _gallons. Approval of all sewage flows into the Authority's system must be obtained from Dade County Department of Environmental Resources Management. Natue/ot Utility Company Name & Title of Utflity Representative J„ (Please print above) Da to If the utility is unable to state that a sewer main exists adjacent to the proposed building site, the applicant must have the follo,.'iing completed by Dade County Department of Environmental Resources Management. APPROVED:. Signature Date DISAPPROVED: Signature Date Type of Extension 1. L.S. & F.M. 2. Gravity Ext. Serial No. Date State Approval No. Comments 01 '1 f1C iul���'✓C7 i �, fc,rmLI t 1 V1! 1 C 11E.C):�:C: ,II1C1 it}�F,1'C VLCI ! U1" i�CClll-i3C of lu J. h.1-chitc-cL Z(')N1 NG I NVul:.'11:'I' 1 ON 11) R JACKSnN 'I'MERS , 11 1 '.M , FIVII I DA DON i•l 1 `I'('IIf:I,L �-I)f�;\� 1�;1,�)F'I;It �-- - -J PROJhC'I' SCOPE: NUPS I NG AND RI:}li,]' 1 I, I `I'A`I' I Cori CENTER R I:UIILDTNG IJIM';RAM: * ADM I N I S'}'I:AT I M AND ANC I I,I,:i}:Y S}ACES * 120 BEDS V V I IJAM }II)RS I NG * 60 BEDS IN'I'IAKIEPIA` H CARE, l,l';V]-',L 1 * 6U L'I-;I S 1 };`1'I-A',:11 ?D I A`I'I: 2 * 48 BEDS I N'I'I?IMM IA`I'F CARE * 432 BEDS AIWL`I' RE'.IMB I L I'1'ATI M L LV I NG --720 BEDS `t'UNO, I'r',(' I IA `ICY SITE AND 1,X 1 * 2.1.7 ,icrus c:I, Up S.E. corner cif N.W. 9th. Ave. and N.E. 15t h. :it., wt al Lind i!rca -" 94,520 ocl. it * Existing .:akII1(.: high dunsAy multi -family zun i nU . * h1701')0 (-�C. :'U!Ai IG c,i(wlnc to "C;-•1", local C'C,h',!il('1 C1.Z31 (IIHtI"1Ct. Floor .:I i_:. !<,tt. i c): 1- . 99 (1 88 , 65,; 1 1ocor ai oa) I'( _"I?t-ittec; 00 (1 89 , .'52 If! oo? * Frinci.pIC, hui1CIinU Iic :t I'r65 f' * .:cconsoL hui ld:ny Huiuht_. PYLIXiSad -- lU ft.. „I, WL2 (17ad( P(. rm i t t uc: 12 ft . „11-) Vw : ur�i(:e * Floor Area : Propc:sc.d total = 188,654 sq. ft. :'1 ('c:1,i.1-1g A17ea = 73 , 40 sq. ft . * Par} ing I:C•(p.1i rC.mc-,ntS: :`rOf,os(,d -- 155 tGt al sr)aces ('.();TIpact 91"a es 11�Indi cap O:"fst root lc,t,n:nq ]:,'111111'l.'d 245 t,lt.ill sI'oc os * a(-:tl-)ack Re(wi rt--munts: (�itrt'.C't V.idt-11 50') ':V(rYFiCIc3 1-0t width - 276 ft. Principle St.ruct111-0 I'rol,c): (,d Roauir(•c Froi,L - -- - 57-J2 -U Side :,t.rc c>t. (Id) 57' 32'-6" II.Lerior ;idt (I.) 10' 0'-0 " Real- 96' 0'-011 h.cct •:,S(Jry Structure T'rolios�d - I:('c}u i rt =i I'railt sl-r�_U--t.- - --- - - 204 ,-- iU Side ::I c,".t 5' Intt!)-ior Side (E) 0' 0'-0" 0t „ Rear 0' -3 'I'hc: abGve i n foci a t i un i. s checked and approved for accuracy or. this `ebjSLc!ay of 1981 by, Ronald J. Gee, i:, I .1.. , Ar. chitecL Page 1 of I s i CHC�v (0 fimmo March 25, 1981 Mr. Donald riitchell 1400 N.W. 10th Avenue Miami, Florida 33136 Dear rir. riitchell: JACKSON TOWERS SUBDIVISION TENTATIVE PLAT NO. 551-C Richard L. Fosmoer Ci!� \1ar,,,c,rr Your tentative plat of Jackson Towers Subdivision continues to be processed. We have updated our estimate of improvements required for your plat as listed below. This is in keeping with rising construction costs and inflation. LANDSCAPING $ 2,040.00 ,.— ASPHALTIC CONCRETE PAVENZ LENT 13,410.00 Approximately 1,490 Square Yards REMOVAL OF EXISTING SIDEWALK 4,440.00 - Approximately 4,440 Square Feet REMOVAL OF EXISTING CURB AND GUTTER 29550.00 Approximately 1,020 Lineal Feet ,- SIDEWALK 8,730,00 Approximately 5,820 Square Feet ' 6" CURB AND GUTTER 7,763.00 - Approximately 1,035 Lineal Feet 8" CURB AND GUTTER 680.00 Approximately 85 Lineal Feet .- STORr1 DRAINAGE STRUCTURES 4,050.00 REWORK EXISTING PAVEMENT 11,080.00 Approximately 2,440 Square Yards - ESTIMATED COST OF IMPROVEMENTS $ 54,743.00 (10%) CONTINGENT 5,474.00 (13%) ENGINEERING 7,828.00 ,•- TOTAL $ 68,045.00 AMOUNT OF PERFORMANCE BOND OR CASHIER CHECK $ 68,000.00 Attached is our previous letter to you dated November 14, 1979. Page 1 of 2 DIP-NkIMEh1 QE PE BUC %%URh5 2'5 h %%'. 2nd Strom Miami, Flonda 33128 .,...nwt' .. � .'Y�:f`.1'��'.1 �FNte.F'Yitsl-�7s ••�tti�t'�: �.(a�N: „i.:'m:... - � -• .vTw{IM..M.J..IrfJ' .: r..4 L: �/.-11.[��cw � .. ... r Mr. Donald Mitchell March 25, 1981 If you have any questions regarding these improvements or costs, please contact William A. Mackey, Highway Engineer at 579-6865. Sincerely, William E. Parkes Assistant Director WKB : mf Kt- RESLhE LLNALL A. P ITCHELL 1400 N. I,%. 10th Avenue Mari, Florida 3313E, Tele: (3G5) 324-7211 PER5L-NAL harried; three chilcren LATH: Excellent heF,1th ELLCATILN: All courses and serinars en housing, condos, etc., — to qualify as Certified Froperty P,anager (GPV), thru the Institute of Real Estate h.anagement. hanac.enent Fian was acne on a fifteen story older Chicdc;o office uiaciny tc- zehr-t-il itc-tU for puzcF,ase. Frinciples and Frdctice II for Real Estate Lroker - Ccntinuinu Ecuca- tion Courses in t•iar,i. General Ccntrdctinc Ccurses, h.iarr.i Lace Junicz Collec;e and State L icensec i rivate — Courses - Continuing Education - Lade County. F-rincipals ant Practice I - Real Estate - Lniv. of i.iumi. Ciecits anu Col lcctiens, Business Law, Account-inc, anc others - i%. C. Adult Eveninc Ccurses - Lace Ccunty. Le:;istics - 'naval �•.ar College, New t ondcn, Connecticut, Personnel Relations, Industrial Feldticns, S: ace Tr.chnclec_:y, Acn,inistrative Courses, L. S. h ili- tart' justice - naval Reserve Officer School, Lniv. of h ia;r i anc L b% Ccr zesponuence Schcol , Brooklyn, 'dew Yerk . Cce Ccllece, Cecar Rapics, Iowa (Assoc. Lec. Literal Arts). LCT Li n IL''.hL 1�77 - ;��ric�.rr anc C�-f• in J,crscn f•erncrial No.=,rit1- --o i resen* Civic Ct ntr z in t-cusinc anc health care fuciiities. 1c7L _ i:cnercri Ccntzactcr - hL;vc• Luilt own ano speculative = r zuEent ; -c-pui tics in (• iL;ri anc t• ichic;an. Hoy.ever, have rain- t�-inec: (r �c_ctrical, plurlcinc: anc reroceIinc) n..;rina anc rent I, U 4 nj since 15�9. In the last six years have tuiit unu rer„cuelec numurcus resicential cwellines. benuec, LicenseC Incepencent t ortr.a,e broker Fzr:sent 15t✓5 - Real Estate bicker, with nen,Lership in the Mani Ecard, _ PrEsent R. L. Exchanccrs anc National Association of Realtors. a Febzuar; International, Inc. l9`,L - Fast Lffice Bcjx 4p,, t•.iami, Florioa F resent Airline F-ilot Lwnec and rnanauec lar:;e -acre yacht basin and apart- 1972 rents, LL,th trL:.nsient and long tern.. Also yacht repair �- trot czdcc: as well as n.anufocture of 3L" motor sailer. Prior tc Airline flyini;, consulting and corporate flying for 195L - 5tancurc Lil of New Jersey. - Four years in Naval Air Force, retiring as LCLR LSNF. ACTIVITIE5 x INTLhL TS: F i�ri-�de:e h.arine Council - charter member; various committee offices held. U. S. Power Squadron - Fleet Captain unc: Instructor. f•ember - Linner Key Cruising LiuL, Luconut Gzc,vc' Bailin; Club, h,arine Assn. Church: Bo::rc of i,ir(-etors 3 years, Chairman Institutional Services Committee. Senior Scout Committeeman, Sec. of Seamanship for Youth, Inc. Enjoy sailing, cLiiising and racquetball. A 3 SECURITY PACIFIC, INC. 2225 ath Avenue Seattle. Washington 98121 From i;s orr,,::l; a;.c)n in 11)69 t) Paul H. P' i:-i �J _ L' c:U utLt'r. Cf rl;:�n O{ the Uo(�rG. St�,.:nh,; PaC:f;C, inC.. and as ;slat. •_: n:•..• s. has matu:c d in:o one of the laro•'ct and moot diversified Companies in the mousing ;ndu=tri: As a syndicator. Security Pacific has raised more than S125.0()O.O,�O ;n f'it,;!-,- for m ),o thail 244 ,irniects Throu -h par:ner�,i;ips that it has formed. Pac;f;C cr-1,11 0!, more than 2i11,500 iin;ts located in 3 states 13-4 units have been resold, i+s ,-.•..,..!C. 1=;::t Colum^:a titana.: 'rr:.'nt. Inc , now manages ` 0.;93 housing units Sl'CU P,)C::;C aC tCC, U- th,_' S01,2 t-,porstor f,-)r ap1-rc)xL'Tate1v 1.500 units. Tli-, 1 ,.,,,.� •:,�f:., ;r .tin ;,—n 3 in 1"71 to f) ( a . ;. _ _ i �•, ('7) t Y,.11'. ll ith m2t%vc),., of iJr 'r:' I'.lan,.:�'r�, Cc)1i trU,_t; )il nlf:rl;: _'(� :1i1 1 li, f'hi n%�nt E r :kel dealers a(1C re-:- _ r :I•,.' This staff f-)f real clatc professlon- :i,'It l;l'' _. .. ,, ��• :) _ 1),�nt _,.�'; '� l -' f s S to piovid;;)g a h t foin � ,o��ing mai(-jr areas Syndication development _ ill anageIII efit SYNDICATION Secuniv P,1Cf:C'S unique ahpm,,ch to SyndlCation can best be descnhed in tivo words — : - cornm;:ment and fle�;E�;Lti . �1vst tyndicenois define their role as only that of .1 money finder for the developer '.pith no lorry -term commitment to.'he developer, the protect, or the investors. Secunty Pacific s pnncirok see themselves is the investor -limited partners representative for _- the enure terra of oetinership with an ohigatlon to protect the investors' interests through the point of projoct resale. As evidence of tfl;s long trrm commitment, the principals of Security Pacific, as individuals through the Security Properties parinersh►ps, Assurlle the personal liability of being a general partner in each project syndicated. They have a community of interest with the investors and the s 3 your application to UDAG be finalized for their upcoming quarterly consideration. Sincerely, 10 4 A� Martin 14. Maz on �= Vice President mmm/bsj r 2225 - 41h AVENUEZEATTLE, WASHINGTON 98121i(n6) 623.8313 developers In addition to adding financial strength to the partnership, Security Pacific for the entire term of the partnership relieves the developer of all of the investor related responsibilities such as - Securities re, stration, qualification, and reporting. Preparation of all 1)ffenng documents. Tax return preparation and tax audit defense, if necessary. Periodic status reports and other "customer relations." Trar.s;er of partnership interests. if necessary. Technical and "House4t'er:r.g" amendments to the Partnership documents. SeCUnil' Fr:, :er;:es V.'Illingness to he a ceneral partner and its proved ability in development and it to be completely' flexible :Il otfi'ring %-arious sl ndication approaches :O ;e11'ein-t'r5 and p011?OrS: A T:'u' :Tlal.• e'ieCt to I'er1l10111 as ] partner %vith ` ecunty Pacific for the 1:fe ':t ir:e j .::;nets! :i) ai'U zziiare :n the residUak-, uron sale or efmanc-ma. under this 1.i ,_. .tie e.elc.,_ :i.,.. _1t'C! t0 il',an Wit' the 1l.oltCt Or ha.e the partner_h:p C(j:l:', l';t!'. 1-:r5t Coluni-:-a inc.. thc ri-iLfia'7ement attiliate of Sccunr,- t B Te d 2% _! ,i < r m Elect t(-) •.'. ithdra'.k from t1,e i title; _rsh:p titter completion of construe t;' i. ..:d t;:e .. ;Hel 'I1i�'ilI C t f;:...! �'„ :C r�•?ilb'iit'•.',:tll `ecunty Pac:f:c then assuming total C. -f . iC)f it li'. ma"' Lk:sh to ;Uta l dev,:1opment responsibi:it:es to P.:.,::c :t',>:,: t!;e f;:; ;ncia! iisk r>f beinj a .CenC L—d partner. Th:s approach fi I`'- -.I ... -�.. .n Cl t:•iU;t`�I Of :i'.;lnrCCS '.lith 110;-'.Or-i)tO;it -SpOI)SOTS. 'Cirri:'.' P,,_:;.: 15 int 're�;ed :il il,7ICCt} jtia�7 in the fC�ll )lltnl�` tl,'pcs Of i I-Iltitam:l�' housins Vc'ntUJ�'S' A St'(:I:,)II ;):, )Iects - Secuiitl' Pacif:C has Sl,'ndicated over 40 Section S prni,,cts cont.iinmq ewer 4.000 units and, is thorouchly familiar with all types of f:n,-Incing mcluc m,i GNNIA Tindem. Section 11(b) tax exempt bonds or mongages (b()t:1 Ind UiIIIISu(e(i), cOnvontional. and state hOuSiTIq 111131ICe agencies. B Section 221(d)•1 nl,flliet rate Ii swcd pro)octs - With its malkct analysis and manage- ment eapahllitii's. SCCLinty Pacific feels vory comf:amble in wndicanng market rate pCC1I�'CI�. t�pi�f(ax1111ltet) ll' /tit#h pr(�IeCts fl 1ve l)ee' 'n Sl'I1d:Cate'd by se'CUtltl' I7aililC. C. COnV,2Ilti01MI-dparIll "?1IM - 5ecuiily Pacific is constantly, anal�-zing both high-rise and garden apartnienti lotUking for thole with unUiLlal appreciation potential and substan- tial leverage WQrkOUt situdtIons requiring input of capital and improvement of man- t)(_1enlent WO of particular interest. D CondOnlinium and Co)p cnnversion - Security Pacific will act as the converter or v.-ill pr/)vtd,-, tt:., 2quity noode d h:' the converter to satisfy the lend,2r, refurbish the units, and com,p!ote the conversion The transa ciion irn iv be structured ns a loin to the converter or as a joint venture With the motets being shared on some equitable basis. 4 your application to UDAG be finalized for their upcoming quarterly consideration. Sincerely, *lartin 14. Ma son Vice President nmtm/ba j r 2225 - 41h AVENUE,SEATTLE. WASHINGTON 981211(206) 623-6313 9 ■ In summan•. Securty Pacific has the experienced personnel and financial resources to meet the needs of the dcveloper or sponsor inalmost all situations Security Pacific is te'lll(nq to get involved at anv stage of de'vc)npme'nt and Lt•ill work vmh the sponsor in prnviding the cash. letters of credit. and expertise to maker the, proleCt feasible DEVELOPMENT BecauS0 of the' nite ;r,ll rule as (:eneral partner thclt Securit,: Pacific began to fill in its sr.-ndication busiiless. it was iICCCS�,,In, for the Comp:inv to create a Staff L!'hlch had the developmenial skills to take over a pr(ricct at anL' that it became necessary The creation of that staff also was dcSirable So that the Cc)nlp,alj,,,' '()ind be in a to offer scm-ices in 1hOse SitU It:onS \,'here' there are no spon,;nrs lL'1111nc1 or c:blt' to absorb the financial risk Of deve'lop:ng a particulra7 protect The dc,,v1oprncnt & co-deL'elopinCT11 of lore' and moderate income prn.iects became a n3tUtOl ad1L1r1Ct to SCCLMN' P(aclfre S SL'ndicatiofi business AS it"d:catcd bL' the 115' of projects cickvIoped by Secuntc,' Pacift LL'hich 1s included in this broch":'C' the con,lP An'; s developn ent activity ha, been accelcrcat:ng at a ra7:J p3ee `rccu^tv Pac;f;c was one of the first conipanit_s to develop Section S pro in the do htt.est and cont"Imes to be tilt: nlOSt act:Le Section ti devoloper it) that region As the prucict 115t m.C:;Cares. hclttt\'cr. �t'Cll^.t': Pa C;1:C has al— been active In other parts Of the eountr: and IS sponsoring rn_r!."t rate' a5 tl'cll a5 sUi' rt;::et7 haels:r7u Ait: rl;: �11 Socunrt, Lii cnll,ic:cr an\, tL'pt' of dCL'elopnilmt proposed, the ml: ,or tt:res 01 tit'Lel l?l,len: frclnSaCt: tn> anal be' C3rt'C 1l'„'.r_'ei as follo'.l'S: A C>l?:;C ;r tC, t, i:C.`,,. e i .ilt:e. tiff` I.p'�:.;'rich. ``E U tL' PCic;f:c 1l'iil perform ail \1 L'c'lOI Of t,:t ian_l or bu:i a;il , fo be r\�hc?bll:i::iC:f h-S been C-il lead p11.rc1-„a-c. The Company LLil1 norrlall.. purchase the propert' rrl '.irCd 111011 Jl7t' 103r1 a; it iS SCCL:1lC' PaC:il. S �. nt �; ) :lt e: fc'"' G,.'l t':�' '1•'rlt i�..it:. B Ler,.,, l•, l a:i:. 111 :r::.. rl=i:.:i t'.. it e Cl'.l'?l?r of 1,.a1: (-)r ca bu;1-' g to be ref..::.`.:..al.'.-•'.lr ul ra:'a'1 }ir:L'i' "p:ei1_' cf the dea: than Se.i f t' caa,,l at Clos:ng The Set.-_. CI-Ct :1L'e''! f,.: IC atl 1.`,1yres: In all r?(',:..,;'e11t p'0jCC, ',Oholl: ir11(ne .:aft' 1:1x o'n tt 1`,.n`, f:Vrl if lie C( ! e.'h :l 1 1 r 1 ' ie 1C � 1 �..U:t - ie r:.' 1. t p� It sl ic1111 exCilullQl- for a p.l:ail:els}till :ntt'r\'<t The land ov,-ner will no:,ma"v be a l:nlrtcd partner and SccLir:^' f'.: ::;' lL'ili �i5ru111e t�,:al %el'eir l)rllellt alld >et?er.11 par!nl-r iCSpOnS1b:I:~,7. C lr);nt 011'llers Ill nlaily in''t1Ce:S, a nonprofit Sponsor of a ho,_Sm: hrU;eC: f:11d5 tlliit it does not ha vo either the Staff or financial means to process. bu:11 c7111: lnarlace a p:Upotcd prc)iect, even though it may qualify fol' a 100 loan" 111:Ct'1' s0rile 0I the HUD progr: ms Often it rs nece>ssary for the nonprofit to process as a prof:t illotivat,_'d Spom r)r Untier Section 221(d)'t So that the cash needed for project del'elt)pmk_:nt 'Ind opeiatio)n can be raised through syndication. In these situations. Security.' Pecif:c will jointl%, sponsor the project with the nonprofit entity. Although the roles and reli:tionships will vary with each transaction. Security Pacific Chill normally be respons:ble for meeting a)) cg6ty requirements, processing with HUD, and arranging all financing The nonprofit LL111 normally assist in getting the local government and community approvals'and u'i)) often Leant to manage the completed project. 5 your application to UDAG be finalized for their upcoming quarterly consideration. mmm/bej Sincerely, Martin 11. Ma son Vice President 2225 • 41h AVENUE/SEATTLE, WASHINGTON 081211(206) 623.8313 MANAGEMENT The pnricinals of Secuntv Pacific, Inc.. recognizing the need for a strong. reliable and efficient property management �,�'stem to oversee the operation of the projects and maximize their potential. organimcl First Columbia Nlanagernent. inc. ("FCMI") in mid-1977. FCMi has since gro%k,n to the point'.i here it. in Apnl. 1980_?, manages 20,793 units in 127 complexes nationwide. The five reg:onal offtcc,, of FC111 combine the functions of rental property management and the management sup"rvision of approximatcit.' 185 completed projects of Security Pacific. Inc.'s aff;iiatcd P,�, •'r � :--; The sharcholdcrs of FCti11 recently purchased the J.L. Moyer Company. Inc.. of Los :1r.gt`!cs. C,.:liforrna, which has 11,500 units under management, most of which are concomulium Uruts. The �oak of FCMI ,ire To m ixiini,:e property' income, minimize collection problems. control expt,n,zs. provide rnarntenance programs and assume superior direct ownership participation in day-to-dav invcs;rr,ent decision mai ing. The regional concept of control provides greater f e:•,ibli j c111C 0, 1-t2itt'r Capabillil' tO react promptly to solve problems and imp!ement creative and rctource to evaluate and deign Corrective manage- ment pro+;rain; for prclect, suffcnng from poor management. FC',il has a .,;rt': i an staff of capable and dedicated executives and property c,arr,' or:t th+,se goals. James L. Young, President. brings to FCMi his �,tant Sccrt'tar%- for Housing. Federal Housing Commissioner, and (-)f Rc (::oil X. He previously served as Chairman of the \orthLvest 0S Rr C:(:) ldt D1:iccto: of the Off:ce of Economic Opportunity and in various ca•,�c;••.`� 'Aitl-: Cc'rnmun:it; ACt;oa Ag.2nc:cs. All Regional Vice Presidents for FC.MiI ha�o hak •- .. ":+_'lies aria tra;nriS :n the rn,anaScment operations for both conven- AFFILIATES OF SECURITY PACIFIC r II :1 i CLJ._: : i,: i ti i 1�;�C�1'' if_,• 1 . INC in 1977 by Security Pacific to proviie cfi._:,'.t iri.l c;;t`c::'.. c,pt' ,i:; .: :,..in;lgerncnt for it cornplcted protects. The company cur- ren:i� in 22 an continues to expand its operar,ons nationwide. In Presldt_'nt. FC1%11 has begun an aggressive prf-):111 +1.1 :�,f opaltrlict-it protects not control'1cd by Secunty Pantie or its ait:..,:tt'� f L•11 fi,:Ill`�.:l;;,i.:t�'C� r1„in�,�l'I11��r1tCCirllpanl�,ti. theJ. L. I`1oyLrCOmpany.OpP.ratlllg in `Uuihi,in NlUlt:-I ,1r11ll1' 1'lanagenic nt, inc., operating in several Stites. FIRST COI_U'4LBIA CORPORATION was farmed in 1973 to be the broker -dealer affiliate of ScCLI-V' Pac:fa . It IS n�)'.� «holly (-),xnk'd by Mr. Pflcgcr, President of Security Pacific, inc. It is a -- 111k2r1lb r of i:,k' ,.,ll:'•:i,Jl N»1+C1,1t:C:rlelif SCCUntik'ti Dealers, Inc. and is the principal placement _ J agent for ` CCUr1t'., Pi1Cif iC S prOjt2CtS TI iE SECURiT%' PROPERTiES PiI�TtiERSHIPS are a series of General Partnerships com- posrd of the j,r,i-ic:p,ils and'aff:ck?rs of Security Pacific, Inc. These partnerships participate as a gcner'll partnt'r :n propertics sy11d;C Ated by Sccurrt�' Pacific. The other co -general partner is -. - usuaii', tit+, ,j�+ •'t�n,r 6 your application to UDAG be finalized for their upcoming quarterly consideration. -� Sincerely, A *;artin 14. Ma son Vice President mmm/bs j r 2225 - 41h AVENUE/SEATTLE. WASHINGTON 981211(206) 623-8313 CORPORATE PERSONNEL PA JI-11 PI-I-FC,ER, 0iairman ofthe Board. attended Western Reserve University. Cleveland Oh;n Prinr to nr(_;an!,:!ng Security Pacific, Inc., Mr. Pfleger had been involved in financial 111,1tnlillg ,llld nlonc. in,lnagenlerlt, inClll*din3 SeCLlrities, insurance, real estate analysis, tax and estate planninq I I,, served as a reg!�;tered representative for several securities firms in the Mid, Wi"tctn Uwtocl Stat('s and was a principal in Hunt-Pfleger & Associates, a financial plannint3 anal in'�urancc firm. FZOC;hIN :1 RIF=GI_R. President, obtained a B.S in accounting from the University of Kansas an(i an M 113 A from :hc Univcrsitk; of i%Lchigan. He was born in 1945 He is a Certified Public Accou,-,tan', in il:t' ;;cites of Colorado and Washington. Formerly, he was Treasurer of Sabra Inc . an ap,iltt;lcnt and dcveloper in Denver, Colorado. From 1968 to 1')rJ, he ll't3$ aSSt'c:ated ll"ti ty i'r- Co., Certified Public tithe Dctlyer office of Arthur r�n(.c,son Accou;l'.,1 ,,'s, %?here he was a Tax Man Scr. Mr. Ricgicr has responsibility for the acquisition and stluc:unns , ha�cs rf all pro)ects syndicated by Sccur,tt' Pacific. Inc. J,1�iI:S L. 1'Oh!��G. I-xccuta e' Vicc P:csicicnt-Chief Operating Officer, and President of First Ccl n,b:,3 11...•.. _,•:cr.t Inc . from ltrt�stc'rn State College Mth a Bachelor of Arts Dt"-rcc in E f::c.:;:(n and Political Science. He was ?kith HUD for four years as Assistant 17t�1-.i `a! Ho'u zint3 C i)nwmssioncr and Rt'g:on31 ; dminlsh ator of Recion X. He ,iso -' , Chalrr;lan ,,f the I=e'dcral Rcg;t)nal Council, Regional Director of the Office o; Fcoromr (?, tl_:rr,il;it;, and ,:l v'!r:eus otficr capac;tics with Conlrnumty Action ,agencies. O m. "ROCi';� PIiOCI1 ,X, vice Pr,'_.aent. rcccived a Duns Doctor from the Unit'c'rsitl' of 19o'-, I'c:s a lrcirl)cr (A thL ` ir` :ITd, the Rstnct of CVlumhi3. and the C(; in I?.:: Hi :J ill 11 rii' �toc FJI1Uii't'r and officer of Prornex Corpora- til:�egean firm). anu an 3dvisni to five SEC :(:.,nc•11y all A!: sistnnt `rice President of i P.. i�l't:l;all,' ig in prhltJs;ng, tl,+l::i'n..'C. a;,.i :i,_�nl 11i10 to 1070. as I tl fJ i`t i (, ._ : '. _ �� i i L i �k'1 � 1-5 •� �'l)Lli 1`� i r? t' I:' •.l L'�t ��l nl•i(.c'... lC' 1 1 t ) t; e'i'.f h?lCHAEI_ .I S�',:''�l)1.1,':C�. V;cc Prt�sldC-11 of I uIXlc 3n 1 A:�nl:tl;,'rr)r. 'n. (;ra,l.u,tc�i in eco Pt.'nn�'vIvan,,a in P to r a!`) i''..S:iled .in M B A. in ;il 1 (iU(_l. fit-, I,, ,l t'1t;„ ' ; I'li1't(i Accountant In "r,lt(Ii I ll5t' & C0 fti';(:'!t l'C3r5 irk t I I C SC31I10 Of;:C,2, ;!11� in 1O79 .is a �c'rilor :)Ud;t Illtl11:1(�k'r to )nln Security RlCitiC -- ��It',ttTt.v �'? �•?ftl )`(��, �, ;t_t' I'1 _',l�} '!lt AL lllti}it;nn;, obt,illle'd a B.ich,,lor of Science Degree 1,1t'is Of Ijutiiilk-'ss rldrmni,tration i ogice fro111 Santa 1'rOklou-Iv. 11" �e'rye'd ,)� Y;cc President for Kaufman and Binad Asset }a.' f(,r the acquisition of 11I.11) nlult1f311):iv dcvclop- rnt'nt, foI it ;i,it;nll P1:(_i; tk) t1Lit.�t1 MLId-PAI ll',?s e1'i1(1,1�;Od in various activities related to IT1U11;: lai;i'� hC)ll�ili� ill .Si:ft,rttp;,l, Alll(lil l and N('L'ada. He !�, responsible? for the acgUiSIU011 Of taX 511L'ltlr It,)U iJi�,):(.))k'ctti bV SeCL.Inty Pt3CIfIC, inc. --JM 8 ....b�... "'� �•.......... 66ao46..15 4-W11MLLUt:l_lv1l t:U:%.M, IL is essenrlai rnat your application to UDAG be finalized for their upcoming quarterly consideration. Sincerely, Martin 14. Ma son Vice President mmm/bej r 2225 - 41h AVENUE'SEATTLE, WASHINGTON 08121v(206) 623-8313 MIC f IAEL A. f iTT, Genera Counsel and Secretary, received a B.A. in Science from Graceland College in lnwv,i, an M.S. in rMathematics from Western Washington State College and graduated in 1974 with a J D. from the University of Washington Law School. Mr. Utt has responsibilit,,' for IcgA matters relating to the acquisition of the tax shelter housing protects syndicated hV S(NUrity Pacific, Inc. RUSSELL E. LONIAX. Director -Asset hlana(�o erlt, attended McCook Junior College, McCook, tithra k<i ,uid the University of lU.ishington Mr. Lomax, is a Certified Public Accoun- tant He was fury„erlI .i. ociated in the retailinf3 industry with Weisfield's. Inc. from 196E to 1973 and Doccs Sixth Avcnuo. Inc from 19O2 to 196S Prior to that, he was afrjliated with the natural gas Industr. —Cascade `natural Gas Corporation. Pacific Natural Gas Cumpany and William P. Harper Son Co. ROBERT B. CHRISTE\SON. President of First Columbia Corporation, obtained a B.A. in Accounting from the University of tk',:,hington. Previously, he ser-k-od as Controller and Stock- broi« er %kith Foster and Marshail. Inc.. Seattle, and was associated wth Dean Witter & Co. DAVID G. KING, General Counsel of First Columbia Management. Inc., received a Bachelor of Arts in Econcmics from Whitman Collooe in 1967 and a Juns Doctor from the University of Lti'a,h:n ;on Law School in 1c) 1. Folio,,OM3 �raduat'.on, lie served for six _tears as Associate Rc;;on:a Counsel for HUD in Region X. JOHN' J. HANS,•iA\, Vice Pre�ic'.cnt S,:nd:cat:ons, obtained a B.A in accounting from the Un'. ersity of t.t' sl;;ii iron and is a Cert"Wd Public Accountant. Furmcrly. he was with the accnunnn� „r Ru'..;:ic:ct: anc'. Cump:!m,'. Public Accountants. Bellevue. cr,on .cc jr'.cr, , (a ,ua cd from the University of E:�,` ROBERTS. Ass:-tant to the I:xE cut:vc VP ,, ,t ,r„r t , r t :1. , nr c� Oxford Un:versty for one year. Pnor to :_ 1,21o, of �r i 1 '�'1c „ prr"oct _cr for Lc�t'Is Douglas Dekcioprnent D D.0 1 :n LVn'j I)l•L._n. C11111" ::i;a a::; v orkcd :n the Real Estat` division of Join ,�1:Tll'llie CAROL C. LIi"I'LE, Vice f':esj�:ent D�weivpm�nt. is a g:aduate of 'Memphis State University an ,n .;nance and real estate. She served with from 1974 to 1`_t7S as a Development Manager. She is I !UD FI iA for the Development Division front Preliminary Propu,"21 Final Propo�,:1, Intcnm Closing. Construction, Final Loan Closing and Warr :nty p,2r:nf.i. She js an FHA approved Housing Consultant. 1 f E your application to UDAG be finalized for their upcoming quarterly consideration. mmm/baj Sincerely, :Martin 14. Ma son Vice President r 2225 - 41h AVENUE/SEATTLE, WASHINGTON 081211(206) 623.8313 0%4 0 0 o CD CL 0 (D ct I- t- 0 o 0 ri, 0 > ri z c 71 In r.1 -4 r, > V) C6 :1 z C) m 0 tj ro 0 rL ID C, :3 :3 OQ IN co I f1i m StI%j%j,j[jy()I SYrit) ICA[ IONS BY SECURITY PACIFIC, ING 1971 1912 1913 1911 19 M 111/9 TOTAL TOTAL CAPITAL CONTRIBUTIONS 506.352 S M17,101 $ S11.91:%025 s S20.56 I,M S 12 I,V) 1,08 TOTAL MORTGAGES 3 8.31,461 2B 96 1.1, 11; i,2119 11.143.11G0 0, f; h 12G.212.131 83.01,4 111 74 351,329 6113,71 Gb,; S'..311,752 S G 9 1 S I I V .2 29 S,Ifl f;,)t; ?I I S9,1 912.557 VI.I.M P,2 CUMULATIVE TOTAL VALUE IN 1'.1;ILLIONS 100 2(10 71 (i A 101) 5110 GiM ion 20i3 11 '72 '73 '74 '75 '76 '77 79 k a,� L a i 71 7d, Zz 7,- 1.10STr,AGES CASO INVESTED t-"V, security pacific, inc. January 22, 1981 21r. D. A. Mitchell, President Caribbean Realty Group Suite 16-C 1400 Northwest Tenth Avenue Miami, FL 33136 RE: Jackson Towers Nursing and Rehabilitation Center Dear Don: This is to commit $1,750,000 in equity capital to Jackson Towers Nursing and Rehabilitation Center. Tile "Center" is to be built on a 2.17 acre site that you own in fee simple and have an equity in excess of $1 million. You have already received our financial statements. The project will consist of 288 SNC/ICF beds, for which you possess a Florida State Certificate of Need #1283, plus 432 handicapped and elderly congregate beds in some 188,000 square feet in a seven story structure. You are also making a firm commitment to UDAG to develop this project, subject only to the receipt of a necessary Urban Development Action Grant. s It is understood that you have a $10 million commitment from a national bond underwriter, subject only to the award of a UDAG. It is also understood that our commitment is subject to your receiving an Urban Development Action Grant equal to or greater than our equity contribution. We are most happy to learn of the environmental and zoning clear- ances for the project. With most development work completed and with a degree of inflation raising construction costs, it is essential that your application to UDAG be finalized for their upcoming quarterly consideration. mmm/bej Sincerely, A, - Aa "fartin 11. MaZon Vice President r 2225 • 41h AVENUE/SEATTLE, WASHINGTON 9812v(206) 623-8313 r PERSDAI FINIi�CIAL ANDi.REDIT STATE iEWT �rolect Name IACt; 0't TOWE RS '41UR'; IN ft RLiiAE It_ 1 -1 [A 1 t,' CIri i EP, N Umber -ocation MIAMI, FLORIDA .statement of Security Properties — _—_ - ' 80 wnvember 1 80 — As of _ 19 address 2225 Fourth Avenue, Seattle, 1•.ashington 98121 Cash on hand in hanks m— (Name of deposlt") ASSETS ( rl a 1 an te) 3.......... . ...................... .......... 3.......... 3.......... Accounts receivable -eat: nou'at" Aceorints ---- .......... Totes rv-ceivable !S .......... --ess: D-ubtful Notes I----- — ......... . i .!or-ka and P-nds -!+Market Vulue (!chr!ule A•teverse side) I I '!her c--%rrcnt •1aetn (drs.c.it.e)1 ........ ..............IS .......... ' . . . . . . . . . . . . . . . . . . . . . I . . . . . . . . . . .....................I .......... . ct•al ..• Currrnt Ar.seta� - - - - - S .. .. .G ....--- - 'ral P r••T-erty - at net* ( � ••Cule ri- rr,.ersa %ide) ......... . —!%.nery P..;.::;.-.rnt and 7 ,:tares - at nit I .. ....... . fe :nr.u:ehce (Corti vulue Ie--s Inuna S .......... I am%rtt (drscr.be): . . . . . . . . . . . . . . . . . . . . �$ . . . . . . . .. . . . . . . . . . . . .. . . . . . . . . . . . . . . . .. . LIAMLITIES AND NET WORTH Accounts payable 3 . . . , . , . . Notes payable Debts payable In less than one year (secured by mort- gages on land and hwldings)I Debts payable In lees than i one year (%#-cured by chattel moriFsjes or other liens on a a net s) ......... r_Tther curTrnt llubillties: (de9rrlbe) . . . . . . . . . . .. . . . I3. .. . . . . . . . . . . . . . . . . . . Total CLrr-nt Liab,li!iee ' - --- -- - j . . . . . . . . _ 17--bt s T uy c.i lr ir. -cte than unr )rar (!.ri r.n•rS b)• rrort• Fn.;-s cn :NnA and:,u:lc:ings) iirhis p av'able in :,orr than one }Pur (air,:rid by chatte•1 r, crtp,oyrn or other lirns on • I i . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( . . . . . . . . . Clther linhilttier- (,!-scribe) .................Is......... ............•.•....• .••..•..•• . . . . . . . . . . . . . . . . . . TOTALUABILIT7ES — --- S --.0. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1i Pt 'r•Or1h 0 I _.. -- .................... --- -- -- - - 0 TOT 4L LIABILITIES ABILITIES — ---- — O TUTAL !. ETS IS AND ::ET �C�F�TIi I S Cost,-- c counts end rotes Receivable: Delinquencies: Amcunts, if any, due from partners (P), employ( -vs (E) If any taxf•s, mortgage [myrnents or other liabilities ure rf•latives (R), specify: past due, specify: T yDP I � Err R Name I AAd rss I Amount Type Li bility � Amount Circumstances NONE utcnce: Life (face value)_---_-- -� Beneficiary ----- -- -- - - -- -- ---- — Ncres Pcryoble: I Matursly lnnylible to I Amount I Date I � �_�edyf•d Assets: DONE T_yF_1_ed..Qr._Amount__ Ofae_t_tl._nQ _.rwbrtty _---Legol Rroceedings: ; leg l proceedings eedinEs have been instituted by creditors, _ or any unsatisfied judgments remain on record, givr full de- tails: NONE u r i t y Properties-80 is a State of Washington Genclral Partnership comarised 11 individual General Partners. It was formed for the purpose of j.oming General Partners in Limited Partnerships owning or constructing multi- ,ily housing projects. The personal Financial and Credit Statements for -urity Properties - '80's individual General Partners have full liability _.jr- its debts, including obligations to a Limited Partnership in which Security .jperties -180 becomes a General Partner. Thus the collective net worth of individual General Partners of SP-'80 is available to meet the obligations SP-180 as the arise. Personal Financial Credit Statements of the individua: ,oral Partners of SP-'80 are attached. SCHEDULE A STOCKS AND BONDS CurrentMarket Value 11 Listed. Description I C et (At dnte of thas Name Exchange SCHEDULE B REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and De-,criptiun original Market Assessed Murt,�.eged Insured Age of Land and 13uilriings Owned Cost V Value For- _ _ �_ I __ I ? I i '10TALS Title: TI)e If -on' and title- to all rjcvs of teal estate is solely in my name, except as follows: Loca!j:-n rf Y'r�j -fly Nstne of Title Holders References: Bank— 13_lnk, of California q10 rourt, Trbde— n (i t_ o n c) r t- (i �i I r 1 r n,�7 c�_, 7 2 raL I HYPEBY CFRTIFY that the foregoing fiF:ures and the statements contained herein, submitted by me for the pur- pose of obtaininF, mortEage insurance under the N"tional Housing Act, are true end give a correct showinE of my financial condition as of this date. Si pe d this___— 1 St day of t,ovemher____ , 19 8() ,�.,. /% 1 J,4 - (Name)-- By: MICHAEL A. LITT WARNING U.& Criminal Code, Section 1010. Title 18. U.S.C., "Federal Housing Ad=inJsLystjoa tr&nw- actlons", provides in part: " %`h0eva , for LLP purpose of . . . Influencing in any way the action of such Admirustration . .. makes, Pusoes, utters, or publialics any statement, knowing the *bme to be War, $flail be fined r more than $5,000 or it=prisoned not more than two yes.ra, or bottL" D. C. 647t7-P Rev. 9/63 r r:( 9&.. -.l_: r. tie y, :. p.r ,t PERSONAL FINANCIAL AND CREDIT STATUIENT d1M 6vtr.v w.6l AY-/.i Project *tame Location Statement of Address John J. Hansman 1721 4th Avenue N Seattle, 4;ashinoton _ Lath ASSETS — on hard in banks M osy of d ep o ti t arry) (I3.al an ce) 1st national 4.000 11the hinaLor,.',utual..,..._ s �..3,,000. Ac co urd s rscei r abl • f ......... . Less: Doubtful Accounts --�----; •••••.•• "f0tearecei•a6te is .U~ _ Lens: Doubtful N'Otes �.IyU�t + G 14,000 Stocks and P�,nds - Yarfret .. V al ue (Se b ed ul a A-r*• arse s-ide) I .......... Other c-..rrr_*t aese:s (describe)I ....................!:.......... ' ......................� ...................... Total Cure-t2 .�sa�ts .......... —�:L,:000 . �-- - s Real J .-r-)e-n) - at not* i (Sch-"!nle 3 r.erse ode) 1 J4 . ��O „ - , , titwch:ner7 Erup-)ant and I j r ir.::res - wet net I j ....... . Life :nsurwnce (Cash value �S Nona less loran ......... Other assists 4,i;rsc-ibe)a i o,CO0 to, �21-1C,&)1010 . . . . . . . . . . . . . . . . . . . . . 21.000 TOTAL AFSt. s js 1 cE . CCO • C:+t, :nc:ud:ng .crrrc rmente, :rss dr-rrc:ahon, - Accounts end ,`.'otes (receivable: A. -punts, if any, due from partners (P), employees (E) .or relatives (R), specify: r T i pe 1 .w(p, E or R)' ti ame Adder ss Amount -.E - ��, ;lri'— PaCifir cn t+In—t.�A- -S-1� r�D 1� --E C`Cur-itv Pacific cn�r�1n t.tfi i F flir0 -__-7A-_ 1. - I ! Insurance: Life (face value) h Eeneficlary Plecged Assets: 10 Ty; a pleOged i Amount i Offsrtting L:ab►llty NE — — i— Number As of November 1 98109 LIABILITIES AHD NET WORTH Accounts payable Notes payable Debts payable In less than orie Ye- (arc -•fired by -Dort- gages on land and buildings) Debts payable in less than i ooa year (s.ecurv-d by chsttal mortgages of other lions oa as set s) ................. I Other currerd liabilltiew (desA:ribe) i ..................;S......... 19 30 Total Ca•reat L.•abilities s . . , , , , , Petits parable is -:x.re than , one yeat ksecarrd by mort- ga`es on lt+rzd andbuildings) Debts payable in -nure -'ran one vrar kftec::red by chat -el r.crtgi.gen or other :lens on t I ..................; 1 000 .................. Ckber Aw-i;ities (drscr:be) I S......... .........; . . . . TOTAL IdAAILI 1ES ---- —'s tirt Worth 5LIZ.000 TOTAL LIABILITIES 196,000 AND ti4 l "I' »r RTii t S Delinquencies: If any taxes, mortgage payments or other liabilities are past due, specify: Type Usability Anourd Clrcu-n+:antes — F �_ ---- r -- — - -- r dotes Payable: payable to 1110NE - N atunty f— .AXroLin t -- Date Legal Proceedings: If any legal proceedings ;rave been instituted by creditors, or any unsatisfied judgments remain on record, give full de- tails: r It I NOTE. It -ore space 13 required use scparate sheet of paper writing on one side only. IUver/ r SCHEDULE A - STOCKS AND BONDS Curycnt Market Va:UO ! Deacription Cost ' (41 dw1 Cue of (Ags I 11 Listed, Name Eacbanas SCHEDULE B - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location end Desc iptioo Original of Lead and $cuidir.gs Owned Age i Cost -er'sona Pesicence ! t �s.�UU— Market Assessed 1 I 1 Value Value I T3Q,i7ii0. 9o.OQ0 Mortgaged I For- I c4.U6G insured For- 100.000 'rental ;-case - 6025 16th NI 1W. Se' attle, :,ashinotor 9c117 1 60,56G I �0.0001 67-000 C00 65.000 II -------------- :o�.BLS ! 1 l .uu0 i t:`0,000!l6 .LUG l -;,,iiUO 1 165.000 Title: The le3ai and ecuitacie title to all riec-s of the ab-o,6•-- e%c:i*--d ^•al estate is soleiy in moy" nkme, except as follows: Loos- icn of -teal t rcperty I time of Title 'Holders References: Bank— Seattle First National Bank 408 Pike. Seattle, WA 98101 :rshincton ,'utual Savings Dank 1501 5-th A v entle. Seattle. 'V,A 98101 - Trade— r,.r,-rican F+nre-, P.O. PoX 137-'c ?hnn_njv ;�7=';f1(1^ rr j I HEREBY CERTIFY that tote foregoing figures and the statements contained herein, submitted by me for the pur- pose of obtaining mortgage insurance under the National Fousing Act, are tme and give a correct showing of my financial condition as of ibis care. . signed this 1st day of �aovcr,ber 1980 ohn A. Hansman WARNING U.S. Criminal Code, Section 1010, Title M U.S.C-. "Federal Housing Ad-inistrauca trans - Actions", provides in part; " Whoever, for the purpose of .. , iaflueocing in any way the action of such Administration . .. makes, passes, utters, or publishes any statement.. knowing the same to be false, ... shall be fined not more than S5,000 or imprisoned not more than two years, or t.otil. HlJI}Waah., D. C. -H!-FC41A ► 0. 2a17 u t ct#A#TOt■r OF -+J(A14G MC �.V%AA c+4vt�0fttKY June 1917 f(DE&AL r.ouS)W. a0r+wST1aT101 Fen" Ap"ev Brea.+ 9uecru go. 61$?0V.A PERSONAL FINANCIAL AND CREDIT STATEMENT Project Name Nnmbef ` Location Statement of David King As of September 22 E9 80 Fress 2225 Fourth Avenue, Seattle, Washington 98121 G, ASSETS LIABILITIES AND MET WORTH lab on hand in banke Accounts payable _ , . , (Name of depositary) (Balance) Notes payable .. . School Credit Ur 2 000 . .... . 'izic' IciV.1.!3 k" , ..... ...• Debts payable in lass than one year (secured by mort- .••tv`A••••••••••••••• .................... ••• ....; �l500 . gages on land andbuddings) ......... ............ • • • ....... .......... 5 .......... D:bts payeb[e in lose this -crow-pis race Taws, f .......' one yew tsecurvd by chattel " wortgagse or other lions on nc Doubtful Accounts .......... as vet a) Notes recad• able S ....... .... . . . .. . .. .... . ass: Doubtful Notes .......... . . . ... . ... . ...... . oci:s an4 Bonds - Market Other cture liabilities: Value (Scbedule A -river" (deacziba) side) .......... Tom Pauj4Qr}. Spp11. S......... 'ther cnrreat•assetc (describe) tractor ,QT} . house" .. s .. ..... .. .......... 10 , 000� ...................... .......... Total Current liabilities S ... I.Qa000 .�........ Debts payable ore than ..................... 3,500 one year (secured by mvK- by Total Current Assets gages on land and buildings) ..1.1.1 ,. (S .......... eal Propert7 - at net • Debts payable in more than (Schedule B-rt"err.e side) .1.4 9 , 000 one year (secured by chattel mortgages or other liens on Aachinary Egnipment and F1nurtrs - at net .......... ........... +i -ire Insurance (Cash value Air —.1.ane .. . . 141.000 IS 000 less loans ....3 Otbn liabilities: (describe) Other asaets (describe): . . . . . . . . . . . . . . . S . . . . . . . . . �tS,�ll'i701 & ; S.ot?�l S ....O0' �Q ... .. . . .. .. .. ... . ... .. .. . �!5_'l�Pr. Ski �.4'�� ... A, Q.0Q t...lo 1 z s .......... QAQ ... .. ....� TOTAL LIAI:iII.ITSHs s .. .3.J ,.UUU .. . .......... 23 , 0 0 0 :let forth 9 0 500 7AND 2 2 5. 5 0 0 ..................... TOTAL ASSETS TOTAL LIABILITIES NET WORTH is � i t 225,500 • CJs inclueing iraorovements. :ess depreciation. Accounts and Notes Receivable: Delinquencies: Amounts, if any, due from partners (P), employees (E) If any taxes, mortgage payments or other liabilities are —or relatives (R), specify: past due, specify: Type _ P.Eor RY Yame Address ( Amount Type Liability Amoturt j Circumstances i :LOVE is NON' F I I I I Notes Pcryoble: Insuronce: I Maturity Life (face value) 5 policies S 166 , 000 payable to Amount I Data Beneficiary Karen King (wife) & Ballard 1 Bank Pledged Assets: Legal Proceedings: Type pledged Amount ! Offsetting Liability If any legal proceedings have been instituted by creditors, ?ONE i i I or any unsatisfied judgments remain on record, give full de- tails: I I N.QN� I NOT:: If -lore space is reotured use separate sheet of paper writing on one side only. Juver/ IN NONE De scripuoe SCHEDULE A - STOCKS AND BONDS S I Current Narttst Value Il Listed. 'fi Cost (As, e off• Natre Exchange ge SCHEDULE 9 - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and Desenption of Land and Buildings Owed rye Original Market Cost + Value Assessed ( Value Mortgaged Insured For- For- 7930 East ''Iercer Wav MA r-er I sI l I Wash incton (undeve oned) I 14 , 00 ! 50,006 44,000 1 2 -_ i7s2 Eas -- :fiercer way, Mercer Is . ,- WasnirlQton - Resicence ! lvr. 1 185,000 1 325,000 _168, 300 100,LO01? 1-20, 0i -- E mr.+Ls I 1199, 000 +3 , 000 21 2, ?00 l 1 1 , non 12 r r 0 Title: The legal and equitable title to all pieces of the above -described real estate is solely in my name, except as follows: (- r-. -- ..� i s.. • Tl r r r r �- • , �- 1'1 Location of Real Property I Name of Title Holders I References: — Bank— Fi_=t ".it,;a1 Savincs Ban'r„ 2255 116th N E Bellevue, WTI Account # -5--4 -1 _ L'ar��«�+.. c:.t Snag Jai:!. Qa SI-i1 C..Cr. 45 0 L ni y w.r.. Trade---r=dr=ck anal Nelson F i t- -nc P-ne, Sea.tle, WA hccc)unt 45-349- •,-_ r" -�.'�' PD P.O. pox C- 401 r:cton 98124 1 HEREBY CERTIFY that the foregoing figures and the statements contained herein, submitted by me for the pur- pose of obtaining mortgage ins=ance under the National Housing Act, ate true and gave a correct showing of my financial ccnditioa as of this date. Signed this 72nd day of Scrt(� �. er 19 80 (Name) David King J WARNING U.S- Crtattaal Code, Ssctlon 1010, Title 1& U. S.C.. "Federal Houatng Ad—nlstrauon trans, scuons", provides in parr "R'hoever, for the purpose of ... i&nwenc=4 to any way the action of such Admasustration ... makes, posses, utters, or publtahes any statrmrat, knowwg the son)* to be false, .. . shall be Fiord not Sore tbsn S5,000 or tmprtsoned not more than two years, or bout" HLt wash., D. C. FHA Ft1gV No •),17 u I .t►.s,.✓MT y ..-t-'..L.•c: . ...:+.r.r _ tea+. 1ur+a igf l ,t.ta�..•a� .,rr a;.... ;...turf, F1.. �►t q...s.., �. els R.-:7.1 PERSONAL FINAnCIAI AND CREDIT STATEMENT Project dame (dumber Location Statement of Russel i E. Lomax Ncvr-7ber 1 80 As of 19 ess 4414 rl.E. 104th Place. Seattle, Washington 98126 lAiddt ASSETS —` LIABILITIES AND MET WORTH on hand in bar►its ( Accounts payable — -- S 450 10Cash (Naz+ of depositary) (3alancrs) ainier Ilat'i Bank 2 J00 `tote• payable ......•.. r• S rla 561 nO tot * 1.,utua l • • " ' • • ��•, SQ,(f{ Debts payable in It- than one by hka- iaChE' 3•,QQV year ("c=r-d QaYea on land and buildiaQs) .................. ... ... ....... • • s ... 2t� OOO. ►n+bt. payable in less than I .. . j Accou-aa re+cei�able S ..... One year (sec-ztd b-y chattel Lrsa: Doubtful Accoccits ! "totes receivable I= .......... ns*at%) s or•other. *lens o>i aasettt) = t , 1 bJ ....... Less: Doubtful `cotes � 91,163 ... • 5tocia and r-unds - Vw-ket pthef curtr-nt liabilities: ' Value (5cbednle A -revere• (describe) Side) 3.538 1 . . . . .. .. .. . . . . . . . . . . . . . . . . . _ . . . . . . . . . Other Mrrent assets (describe) . . . . . . . . . . . . . . . . I . . . . . . . . ........... 's • • c'.:;iJQ .................. I --- — .... • • • .. • .... .......... Total Cnrrrnt L-abiIi!ias ......................! .......... O'010 rdt'ts eaywhle in -core than ...................... II i C. _ one ceaz (►r.r rid by -port- Total Cz.rv-nt Aswets ---_ _ - fl. /G1 , , , ...... .... Gabes on :ant and bLildiings) q JO , Real 1'rc.t rrt7 . at net • D�-! is payable to -,are :had tedule S (rc•rree tide) nQ (�Q(� .....:. one .ear {�e� tart by chattel . t tfar_ht:,rry E�, --cnt and -,r r.ga�ea or utF.e-r lieas an F: rt as e s - at net f Q �� ......... . .. .. .... Life Irir,.rance (Crab .aloe j le -As lc bate S .... .�1n`.n. Other Iiabi:ltleez (describe) Other texts tdeac:.bak ;S. - ;,u os .............. s .. 11 5u0 . ......... I ........ . . — ?,;r................. r<n . . / � fl0 .... . .......... L--- — — - - - • . • • • • • . : ; OTAL L,IANiLITIES I S .. � C JO . . ..................... .......... 1q VnO "et Worth +I � 230,701 .•. .. TOT.kL A!.SE,S r IS TOTAL LIABILMES I 2411,501 AND NL"I AIDRTti t IS 249.,501 • Cost. :nriu':nq :^vrov.ren:s, :rns t? -prr-c:ation.. -� _--90 Accounts ona Notes Receivable: Lelingvencies: i Amounts, ,f any, due from partners (P), employees (E) if any taxes, mortgage payments or other liabilities are - -- or telatives (R), spr_cify: pest due, specify: T ype -ft (P.Eor R) Name ! Address I A= 0unt T)-rr Liability � A-uourtt Clrcama:ancrs Facifi� -S ttle,, :'� 5 91, 63 _,_ t;C;;E-------` ---- ---- Notes Poyoble: Insurance: t ; M-atunty Life (face value)____ S 801000 — --„ Payable to - — I A•,ount `Date Beneficiary Vivian B. Lomax - Pledged Assets: ' Legal Proce-edings: )-pe Plydged _ Amount j ^ Offsetting Liability ti if any legal proceedings have been instUtult•d by c.--ditors, or any unsatisfied judgments remain on record, give full de- - I tails: NONE fUrrrJ P40TE It -rote space ,s iequrrd use separate sheet of i7aper writing on one side only. * Addresses on Back __—_ L�esrrtPtlon-— ttieissfieids, Inc, lOC 5—ha—r-c�s Pacific Pe::er and _Liaht_52', shar r Biel 1 i naton Fund 164 snares SCHEDULE A- STOCKS AND BONDS Current Nariret Value U Listed, Coat I (Ai isle of tAts j Stn+e..entl 'lame Etchanat ------ I s -- - j .000 _----1 S 1-.050-- — i OTC_— ---- 624 ! 750 - - 1— OTC _ 1,070 1 1,73E I I 1 I � I ! SCHECULL S - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and :escrption Ontiinal of Land and Htuldin,ts Owned �° cost r;esIo nce ------ - j�—I ci—lut`i � ►garltet i I Value ! C0.i100 Assa-exd Value j 92.2C0--�.;5v Vortr�rjjed For - i Insured For ;7C.�CC 1 27,100 ! 90.000 I a2 . _00 0. 0 i b0 .t:00 Title: ne :egai and rcuita; ;e title to all pies-s of the eal estate is solely in ozy nan_, exr ept as foiiows: ` 1-octrscn of Recl rr-^—Perty r'stne of Title Holders Relerences: Ea^k— rainier 'rational Eank, t;orthgate Branch, 326 tlorthgate Plaza, Seattle, !tiA 9E125 tin -cn ai'-vincs Fank 520 t:orthcate hay. Seattle. 6•:A 91-125 anc P_e?son 5th and Pine Streets, _Seattle .'A 96101 v! SA P.O. I HEREBY CERTIFY that the foregoing figures and the statercents contained herein, submitted by me for the pur- pose of obtaining rorig:,ge i :s.:rance under the National Housing Act, are true and give a correct shoring of my financial condition as of this date. Signed this 1st day of November ,19so 0 lame) Russell E. Lomax WARNING U.:a Critrunal Cade, Section 1010, Title lti, U.SC., "Federal Housing Adaunist.rauoo trane- scuonsri, provides to part; " Whoever, for the purpose of . .. inf:ue-nctng in any Way the scuon of sucb Admirustration ... makes, passes, utters, or publishes any statement, inoa•►ng the same to be false, shall be fined not more than $5,000 or impn►oned not more then two years, or both.40 HUJWnah., D. C. to::.7•? :;ay. 6/63 PERSONAL FMANCIAI AND CREDIT STATEMENT project ;Larne .,ocation Number Statement of +'actin ". Iladson and Janie fladson As of OCt-�ber 31 4 rd�dresa 13726 'leridian Place :-lest, Everett. !•lashinoton 98204 AS3ET5 -a sah on hand in banks11C4R--* of de; oaitari) (P dance) of Cal i for 3: ..a .. _ S .. .. . = 3,000 c0un2 s receiv abIa = .. .... . • • Les- Doubtful Aceoratts f IS ..... , ... . Otes m-cet.able . ... ... . .. ss: ✓"ubtfal Motes I Stocks and Sands - rinritet Value (5c`cdule A -reuse side) ..coon ot'.rr e---' aRsets 11 escnbe); .. •1_ IfI 5 .....................I.......... ................................ oral C rrnt AsseLs....... '�. Wool a -c n�rt� - at net* (y�c`io-�:uSc 3 reveree tide) ar`:ncry =-.:t;.mr.nt and i i :i:tree - at ctK Lute :nsur.rnce (Caah .•aloe i less looms s ........ _thes asstt+e+ce+cnb-e�C Cs y P� s c e � (, U S � a r- t. :17'T A.L ASSETS r nn r, 0 • CJ.L, :nc:•,ic:n� :r�r�rc.r-.rate, iris dr- rr<:�:sOn. —Accounts and Notes ,iecervooie: A.^punts, if any, due from partners (P), e arlo.ees (E) at telal-ves (R), S-pecify: . e P. E or Ry Name � A. 'roes I Amount .___ 10 s lnsuronce. Life (face value) _.. —__--- __- _ _ S 3 i 0, 000 Seneficiary Trust for 'vii fe c Children Fledged Assets: i i; a ?!edgrd A=oitnt + Ct!aer,ing L:abtlity LIABIL)TIE5 Accounts payable ;Dotes payable Debts payable in lees than one yeas (accrued by mort• gages on land and buildings) Debts payable in less than one rev (secured by chattel mortgages or other Dens out a a set s) Auio ..... Loan......... ! ........... Other c z.^rnt liabilities: ,NO NET WORTH (descnbe) .................'5......... . . . . . . . . . . . . Total Cu,-rrnt L:abilities _ r-ebts ; Mvrh:r in ^c:e aan one vrar (arc--u-d by -nort- gsgrson!arrda^.d`•uidings) i �J,UJO r rbts PatNble Sn —ore than ' One yrar (vc rod by c^attei mortgages or other :ices on ..................i Other Liabilities.; iescnbe) ......... ...................S........., ..................I 10TAL UAHILI;I£S !S Net Worth f l C1 .0e0 TOTAL L.APIL.T,ES (( ! AND xt4 FORTH I != 244,000 Gelingvencies;— If any taxes, nortgage payments or other li:.bililies are past due, specify: a L.abiIity I Amottnt C :c_-..s:ancce ( �I Notes Payable: f N.ttunty rayhble to A.. -.cunt } Date Banff_ Of California Legal Pruceedincs: If any legal proceedings have been instituted by creditors or any unsatisfied )icemeats rea:ain on record, give full de- tails: BONE NU i --. :: -note space is requiree use separate sneet of paper verit:ne on one side only. IUver t * ADRESSES ON BACK SCHEDULE A • STOCKS AND BONDS Current %Aww#-t Value , if Listed, i�exttptioe Cost + ',tctntr+.rnr/i, I Vatr+t Etchangs n ���, `�C-�'-r'=5 - IIS-�'� _- 'S_tr,�rnn---.�� _CIS - --- ! t t SCHEDULE B - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and Description I Onreinai Mstket Assessed Vurtgrted Insed ur of Land and Buildings Owned + �e , Cost ! Value ' Value i For. � For- r- rl va --e -,-_s i c'ence ! 5 -- - � 67 .000 95.000 i - ~Z'. OCn _ -„n--;`�0 31 P00 70 Q'10 Ouse! of - �,= ro,; sn-Co. ,o--u- --- --'-- - -a0 r 1C� J00 ---------_-_---- �c --� =r--r, 5h C.o_ •��_ -b-- ---� — - —'-- �J'41GCf----- I _ _0-3 - - -3r) nOG -- - - -� l �_ CCC' - -- - - -- --- ---- --- -- -- - - -- --- --- ----- ------------------ -- --- - - -- =--- --- -- - --- -- - - - - - - - — -- I I,i I .l -110-1Ls 1.1e :egal a-nd ecu:tabiC tie to .11i elects of the :Cal •Sint@ is soteiy In "ly'name, •'t; •Dt as cws: AM ; eierences; s LUCa:10n of -Real prc.^erty I Name of .11:e H(-;ders I Ea.nk- _F�:nE_of California 910-Fcur`h- nv_t-nue. Sea 'Ltle_ :'.ashiticton _91FIl64 _ -- - _--- :nl' 7-,ericard P.O. 'ox 701,", Fasadena-CI+_Acct. •HOC`:-EG'�7_01-'73-- -- --- - -- Gir,r_ rs 1•.lb r,erna' ,ona1 CE_nver -00 ;-c_count F 3617-41_353A-O015--------- '';-.•t r/�-0U2 cct. 3731-can ss 0 Box i Ph -5a7-81003 I HEREBY CERTIFY that the feregcing figures and the statements contained herein, submitted by me for the Fur- c.e of obtaining on�a e insurance under the National l;ousin Act, are true and give a correct showing of ny financial p "' g T c E- 8 g 6 conditicr: as of this date. -2011 Signed this 31st day of _y October 19 80 G 3 (;ramr) — tSartin M. 1,adson WARNING U.& C--iminal Code, Section 101% Title 19. U.S.C.. "Federal Housing Ad—rustratloo trans- actioos". provides in par[: " Whoever, for the purpose of . . . influence g in any way the sction of such Administration . .. makes, passes, utters, or publishes any statement, knowing the some to be raise.... shall be fused not more than S5,000 or i=:pnsoned not more than two years. ur bct5 •• HL:G-#Joss-, D. C. FORM N O: 1417 U.S. of ►►s i„ f f+i or 400'"G Am A A Df of L. DOW rT :u:,• ;953 ►fDfa►i ACIAI . Kya,ultsaripr PERSONAL FINANCIAL AND CREDIT STATEMENT Iect Name Number Fern+ avore"W B.,es« Bvrodw Mo. e3-ao77.6 stion ement of Paul and Josephine Pfleger As of December 8 19 80 Tress Huckleberry Lane, The Highlands, Seattle, Washington 98177 ASSETS LIABILITIES AND NET WORT" as on n ana to o ant s ,Name of depositary) (gvanC) of California s, 4,000 inn-'1'a�erial*Bank � "'2:Ob6' . ;arket............Fun .......... .................... .......... co tart s rev ei v ab,l s = „ , , , , , , , , Isic Doubtful Accocats tea receivable I s .......... !es: Doubtful Motes tics and Foods • biartat slue (Schedule A-teve, (side) f �he? current assets (describe)I �vabTes •Ccntracl.... s ...�0' .....................I .........: 11tal Current Assets ' • • ' e al Property - at net a k(Schedule 8- reverse aids) fff hinery Equipment and Fixt-a»s - at net ire Lnsurence (casts value less loans s Ther assets (dasrnbexx +acc,^a Cl tv nut 1 s nOJ,000 ri ty� r r;^rert i ...... ucih '' 19............. .. �5,.000, TOTAL ASSETS s ... 22, 500 4,947,810 1 �,UUU .3IL 3.,,100 :000 1,065,000 =9,153,310 Accounts payable Notes payable Debts payable in less than one year (se etrre d by me rt- `ages on land and buildings) Debts payable In less than one yew (secured by chattel mortgages or other lions on as not a) Note touon Qell Other current llabilltles: (doacnbe) .................. s......... Total Current Liabilities Debts payable in more than one year (secured by nwrt- gages on .'and andbuildiags) Debts payable in more then otw year (secured by chattel mortgages or other liens on ! s .... L b00. 120 ,.000, s .. 14G.?�U. 455,000 %lto.Don. "eI I , . , I 330,000 Other Llabtiitiet (describe) i ................. Is......... • TOTAL LIAal1Z ES IS Net Worth 8, 245 810 , TOTAL LIABILITIES � AND ti E-T WORTH q s 9,153,310 Cost, including improver -tents, less derrresstion, -ccounrs and Notes Receivable: Delinqvencies: Amounts, if any, due from partners (P), employees (E) If any taxes, mortgage payments or other Iiabilities are relatives (R), specify: past due, specify: Type I ,Eor R� Name Address Amount Type Liability Amount Circumstances ---- ' Is ','TJE Notes Payable: isurance: Life (face value) S Beneficiary 'ledged Assets: Tyre Pledged Amount Offsetting Liabtlity Maturity Payable to Amount Date ZonaTaell . 120,000 -15on3�d '�J. Bel 330,000 ' Legal Proceedings: If any legal proceedings Save been instituted by creditors, or any unsatisfied judgments remain on record, give full de- tails: rdoflE 'JTE :! -,-re space .s required use separate sneet of paper writing on one side only. (Ut•er) t r—, Cr 2 SCHEDULE A • STOCKS AND BONDS t_urrent vtartet value If Listed. ISsscttptioe I Cost t 41 dire of Ass i SIR" Exchange 51ute,genr) Kecuritv Pacific. InC. IS 15,635 IS 4,C64,409 ! tJ/A First L,oium� is Cor-noration A 5��,(��0 i 46i., �9 I rt k ecur,ty insurance brokers boU I 5UU i/A �rst t-o1u:r,oia anaer�ent, Inc. Security Pacific Asset t'anace;rent �1_ 293 293 ! N/A I � I I 4,947,810 I SCHEDULE ti - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and Descnpdon of Land and Fiul;d-tngs Owned Original Market Assessed Age Coat Value Value 1 0UUS OF DOLLARS Mortgaged Insured For- For- 45' _ =rest ��l ac_rn_� FP 1 1 incti,)m. '4A I I 300 40 0 16 -'cre< - '',ricle "eacll d.000 tt I I I r`aae J i b50 r 1 ,�;00 1J5 I 120 r Res'ze,7ce -:ianiands S._attic, 'wA i 60 1182 i 1.000 1 761 ! 195 I - _ -o,.,l.s I I i 3,100 I phi r 3�5 r Title: T'be legal and equitable title to all pieces of the above-le5crtbed real estate is solely in my Marne, except as foilows: Location of Real Fropetty I Name of Title Holders s, I -- I I References: Bank— Bank of California 910 Fourth Avenue, Seattle, WA 98164 Canadian •-._rial ?ank - ':;iIlow Point Branch C;r,ntelI Piver, B.C.Canada "_—Prdl `,n:incs - -ra and ,ain, Ed, —,.cads, '..1A 3c020 - - Trace-- ='r'." -ri ea rd P.O. Bn), 70Cr2 P,3!sadena CA 91122 Acct. -4=0"-a60-01 1^.. ^-G r^' �j►1 r^nc5 1 ,7 ' -hroni Y A7. Sf-'ttlr, r:ac,hincton v`J 101 c--r5 _ 1c u'h an: �Cri'.h rarer, rtie, ,:ashinoton 93134 I HEREBY CERTIFY that the foregoing figures and the statements contained herein, submitted by me for the put - pose of obtaining mortgage insurance under the National Housing Act, are true and give a correct shorting of my financial condition as of this date. Signed this 8th j day of December 19 80 (Name) Paul H. Pf eger WARNING U. S. Criminal Code, Section 1010, Title 18. U. S. C., " Federal Housing Administrouca trans- actions", provides in part: ', Whoever, for the purpose of . .. influencing in any way the action of such Admuustration .. , mikes, passes, utters, or publishes any statement, knowing the same to be false, ... shall be fined not more than $5.000 or tmpnsoned not more than two ye µrs, or both.- MUC"C".. 0. C. oa:C'•P �Vv. 5,63 'HA °ORy k0.:/17 rev.:un• 1983 J-•,-�tDE��I�O.A'MG►.,r+�++Sta�tiryl BudQNBv.r4uMO. baKUAd.6 PERSONAL FINANCIAL AND CREDIT STATEMENT Project Name Number Location Statement of Rooer and Annette Rieaer As of t1ovember 6 19 $0 Address 1655 10th Avenue East, Seattle. l•lashi naton 98102 AS5ETS ash on hard in bank a (.'tame of depositary) (galance) le 1st National s . 2,000 ed. Sank, .of . ... , .. , ., . 16b0 Denver .......... 01..... s.... 3; 000 coassts receivable ! .......... Less: Doubtful Accounts otes receivable eat: Doubtful ;totes Stocks and Bonds - Market Value (Sebedule A -reverse side) Other current assets (describe)I N .......... !' pl• ` otal Curr+e. Assets e al Property - at not (Schedule 3- re+eree side) achine1y Egmpmeat and i Futures - at net Life Insurance (Cash value less loans = i ..... , ... . then assetsfdesc—baX al Estate Partnershiosls 8.G00 :ores ;,ec. _..Lt ��.7. jy ....... { .. ,0M..................... TOTAL ASSETS 49; 234 ...... ... 51: 348 .. 295,470 660,587 Is 1 ,069,639 LIABILITIES AND NET WORTH Accounts payable Notes payable Debts payable in less than one year (ssc-ued by wort- gar<es on land and buildings) Debts payable in less than one year (secured by chattel mortgages or other hens on as set s) . . . . . . . . . . . . . . . . . . .................I ......... Other current llabilitles: (describe) ................. s......... ......... ................. Total Current Liabilities is . . . .� O,, U Debts payable in more than one year (secured by inort- Qage a on land and buildings) ` . 217 , 734 I i Debts payable in more than I I _ one year (seinired by chattel i mortgages or other liens on i ........ ........ ..I ! ......... Other liabilities: (describe) II .................. .........I TOTAL LIAP-LITTES Net 'forth TOTAL LIABILITIES AND NET WORTH I s C4G, l J4 1 326,905 �s 1 ,069,639 -- • Cost. :ncludinR iropruve�xnts, lees depreeiatlon. .Accounts and Notes Receivable: Delinquencies: Amounts, if any, due from partners (P), employees (E) if any taxes, mortgage payments or other liabilities are It relatives (R), specify: past due, specify: Type mjP,Eor Ry Name , Address ! Amount Type Liability Amount ! Circumstances �i sec aN cITIc I Seattle, tIA S 42,234 (st) -!Sec.-Pacific I -Seats e, WA 672,687 1t I owar -Te`nriann bey evue, '�IA 43,500 , i,ave ccwaros ���ta�t�irTe rr • Uuy aucnolle I Lie i Ievue, 14A 26,0 Dies Parable: Insurance: payable to Amount J Maturity Life (face value) S 100 , 000 Beneficiary - nnette Rieaer ► 1 to I10hE Pledged Assets. Type pledged I i Legal Proceedings: Amount Offsetting Liability -- — — -- If any legal proceedings have been instituted by creditors, l'Oi1E_^_ or any unsatisfied judgments remain on record, give full de- tails: I NONE I I 1 ( I I i I I NOTE. 11 Tore space rs required use separate sheet of paper writing on one side only. IUver/ r i`lortheast 11 Diamond S PiihI i r C SCHEDULE A - STOCKS AND BONDS ` Current 'AwlKet value I If Listed, Description Cost I (Al dare of tAnr are1 Snw+ear/ ( Nac+e E:cbang• SCHEDULE B - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and Description Original Market Assessed Yortgsged Insured of Land and Bculdings Owned I 'fie For - Rental Townehouse 9105 Leniah Denver, CO 5 1 19,270 1 50.0001 117.534 1 32,000 4 nental Houses, 5ellevue. :-.ashinaton I var.i 91,200 1130,0001 170,200 1 95,000 Ibo:) +Ottt Avenue. Seattle. �'A res. 1 40 i135.000 1250.000 130,000 1 100,000' t I I I I I I I ! I I I I I ! I I i i 1 i I I I I f I I TOTAI.3 0 14, 0,000 1 1 217,734 i 227i000 Title. The legal and equitable title to all pieces of the above -described real estate is solely in my name, except as follows; 0 Location of Real Property I Name of Title Holders I References: Bank_ Seattle First National Bank, Eastgate Branch 14440 SE Eastgate Way, Bellevue, WA 9-007 Account ru:-oer - 92-14-707 Unites pan: of Penver ibu0 Broadwav, Denver, CO �0202 Account No. 20-664-8 Paci,lc .,aticnal Gan; or ,.asnincton zIz) 4tn Ave., Seattle, ,�'asninaton -- Trade— American Exoress P.O. Box 13785 Phoenix. AZ Account No. 3731-355080 r1astercharae P.O. Box. 12920" Seattle. WA Account Ilo. 5289-92-3147-07 I HEREBY CERTIFY that the foregoing figures and the statements contained herein, submitted by me for the put - pose of obtaining mortgage insurance under the National Housing Act, are true and give a correct showing of my financial condition as of this date. Signed this 6th day of November 19 80 (Name) ,F er A. Ri e er WARNING U.S Criminal Code, Section 1010. Title 18, U.SG. "Federal Housing Adnunistration trano- actions'n, provides in part: " Whoever, for the purpose of ... influencing in any way the action of such Adm-tusUsUon ... maltea, passes, utters, or publishes any statement, knowing the same to be false, ... shall be fined Dot more than S5,000 or imprisoned not more than two yearn, or tnth-09 HUD -wash., D. C. E41.0-P cow. 4/63 PERSONAL FINANCIAL AND CREDIT STATEMENT v)ect Name Number -cation atement of Jean Roberts As of October 6 19 80 — 'dress 4115 Corliss North, Seattle, Washington - — - ASSETS LIABILITIES AND NET WORTH on hand in banks N-., amw of depo nit cry) per ,Bank.......... .... . .. • .... • .. • . . .............••..... .i .................. -r-t; I _ I -paws _s DoubtfW Accounts otes receivable . DoubtfmL Notes —a and Bonds - 3laoitet Value ( Schad ul a A-twterse OAWO) Accounts payable (Balance) Notes parable 3 ... 1.,.000 Debts payable In leas than one Tear (secured by mort- . • . • • . • • • • gage* on land and buildings) .......... _ .......... Deists payable In less than one year (SV4- 1 by chaeAl • . • . • • • • • mortgages or other U en a os .......... as sat a) l.......... .......... ................. .. ... .. .. .. ..... . Other cur, llabilltiest (doscnbe) casrrsi &newt: (d•scibe) ..................... S.......... .................. .......... anal C:srent Assets Property - et not Sc:h ednl a 3- reverse side) a -�rrT E Ca.Prnent and at nwt i ;nsurance (Cash value Iesa ;oass = .......... assets (daacnbw): scna?..?�c�ert.�s .. 15 0.00 .................... .......... 4,000 .......... .......... '15,450 s 100,450 .................. .................. Total Currant L:.ab tlitie a Cebts payable in anon than one year (secured by aort- Qa`ve on land and buildings) Debts PaTable in more than one ve ar (-jec..zed by cb ati al :xrtgsges or otter liena on 40.0. 47,160 ..................� i ..................� ......... C*hwr liabl.Utlas; (dasc:be) • ..........................� ..................I oTAL UAML:ems s Yet Worth 52,990 :�oTAL L:Asa..:�s AND,�E, WC� , = 100, 450 ,st. :neluding !ess devrv-c:aeon. ,counts arrd Notes Receivable; Celingvencies; mounts, if any, due from partners (I), emplovees (E) If any taxes, mortgage pavments of other liabilities are atives (R), specify: past due, specify: y� Eot R� Yana Add" am I Amount Type Liability AMount ! C:tz-sst&nces iS 4Ut Z 4 i 1 J Notes Payable; rsurance; -- — I l�lacnnty —Mite (face value) S Payable to I Amount Date eneticiary I I ;ed assets: 'Sipe Pledged A.,.unt NCl! J ! Legal Proceedings; oetsening Liabtlity If any legal proceedings have been instituted by creditors, or any lnsatistred judgments rermain on record, give full de- tails: NONE M )T5: 11 more space :s req•ureo use separate sneet of paper avrtt:ag on one side only. (Over/ SCHEDULE A - STOCKS AND BONDS _ cuff"t Market Valnr It I.4ated. Description Cost (At ame of tU+ s l as ew4vu) I Name patch WA Water Powar - 166 Shares S 4,000 I 6 , Q-00 I SCHEDULE B - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Location and Deseiptlon Origusal Market Assessed yort�aged Insured of L&nd and Hmil dinz9 0wnad I Age Cost ( 'Value IValue I For. For- t 0 Cor iss . , Seattle, WAI I 58,950 I66,7501 I , lb ; b0 , 00 I I ! I I I line Tree ranch, 1dano I b I I 1 0{ E1_enSzUX, .tins;zinc ion 1 2 I 2, 700 4, 2001 1 0 I I I 4=ALS I 163,630 173,4301 47,150 1 60,00 Title: The legal and e=tabie title to all pieces of the above -described read estate is solely in my aame, except as ioliotvs. 0 Location of Real Prepert7 I Name of Title Holders —_ , C, 14y- - Ja I _ I AM I Rererances: Bank- Rainier Bank, Central Bank, Account 4 001-089-7348 Trade- Lank A er wcard 4837-060-222-162 Sccfane, rWashi nc-�:cn I HEREBY CERTIFY that the foregoing figures and the statements contained herein, submitted by me for the pur- pose of obtaining morgage insuzance under the ,National Housing Act, are true and give a correct shoeing of my financial c-indition as of this date. Signed this 6 th day of October 1 19 80 (Name) lez . -//,"/ - Jean b Roerts WARNING U. S. Criminal Coda. Section 1010, Title I& U. S. G. "Federal iioua=g Adainisustion tram actions", provides in part: 11 Whoever, for the purpose of ... innueac=g is any way the action of such Admsatatretion ... makes, passers, titters, or publishes any statement. iaowing the same to be false.... shall be fined not more than $5,000 or imprisoned not more than two years, or both.,• HUD -Want►., ta, C. PHA eCRu NO,'117 :.S -,t►►a-rttir t+?,S,v •,r_ ve►w T!V1.:.,rwr ?a+. :W• .i�� ft:f1►♦ ",CPO PERSONAL FINANCIAL AND CREDIT STATEMENT Project Name Number Locution Fang Aesro.� gV �i. SuNay Na, Sl RO �.� Statement of Michael Sw4-ndlina - - As of- Decn,,.bet^ i 6 2980 dress 1447 Sunset Avenue S.W., Seattle, Washington ASSETS LIABILITIES AND NET RORTM Cash on hand in banks 1 AI ccount. payable 's dapoatary(Balance) ) is *Iatea payable d. National. Bank 3.,.000 . Debts payable in less than i • • ....... one year (secured by wort- ...... ............. ........ .. nd gages on laand bttlldings) ! 2,000 ..................... ... S .....3: 000 �.►.... I D.bts payabte in lase them on e fear (asby chattel etourda recsi.abI• _ .. • Leae Doubtful Aewtrnt• 4: 500 toorttrgas or other Lions on ...... ot.s c r�.iesbl. { .......... I aaws) .. . • lea: Doubtful votes .......... . . ... . . .. .. ... .. • .. . Stocks and Bonds - Market `I Or bar car,- liabilluos: I Value (Schedule A -"wars. 1 ! (describe) ; side) • • • • • • • • • • s C'ther current assets (desc:ib�a)! . . . . . . . . . . . . . . .. . . . .. .. . . I .................... .......... P11...................... : of al Care-st Limb ilitia s I s 777 .......... Debts payable in more tbae • ............ • • • • • one year (a.curid by Tort- • • ! — I otal Cnrtarrt Aaasts I s ... , . ;/,a 500 gages on land and buildiu=s) I 44,000 , 0 0 0 ......... Of cal Property - at net' I ! Debts payable in mora thsn (Sebacula a mvtrse gad.) i 90,333 ......... ooa f.ar (�%-c sad by cbsttad r { ochaaery EQuL;:r=aut and i mortgages or oLSer liens on I i Fixture e - at not • • • • • • • • • PIT -if* trivaranca (Caa+a Valve, . . . . . . . . . . . . . . . I ( . . . 11000 �.�. tesa locos • • • • • • • OtherTTliabilitieat; (describe) i jIS• K bQk elts (daalb. S: �ly i //tive. I ...................... s .......... . . . . . . . . . ................... .......... 3�700 in; _ .................... .......... TOTAL L2 A I..._- :'ems .................... .......... Net Worth 4 7 3 •.''..•...•..••.•...• - TO AL ASSE- S TOTALLIABSL=S . s 97,8331 A.*7D SE': WORTH I s 97,833 _ Cost. :ac:srrtnQ :�roaerxnrs, :rah r�-rrc_atsod Accounts and Notes Receivable: Delinquencies: :, Amounts, if any, due from partners (?), employees (E) If any taxes, mortgage payments or other Liabilities are relatives (R), specify: past due, specify: gT Tyre I I ( 1 (P.ior R) Name Address Amotmt ;v7e ;,lability I A.-.ouM ! Circ-..=sturic* s -may NGNE I S NCNE i _ __---_ _ ---- --- - ---- --- Notes Payable: _ lnsurcnce: t Matunty Life (face value) S 10 f 000 Payable to I Aafount i Dale Seneficrary RCS= and SW=nd1 _ncr N GNiV I � I -�'redged Assets: I _ Legal Proceedings: --.-pe P1e`ged Amotmt Offsetting :--ability ,�..-� If any legal proceedings Save been instituted by creditors, .;C*-- _ or any unsausfied judgments remain on record, give full de- _ tails: NONE � I frG7:. L` more space is reGtureC use separate sneer of paper gutting on one side oaiy. (Uver) F L SCHEDULE A • STOCKS &NO BONDS Current Valtat Size Cart (41 date -,l due Slasewewrl SCNECUL° D • RE&L PROPERTY (INDICATE PRIVATE RESIDENCE, IF ANY) Locattoo and tisc--% tloo of Lend Snd 3=114i_-ds C-oed l< L; at ad. +ramie Eschenr Un r,:nAu .Marie[ nss�.rru ..... •�-a-� '&e Cost I Value I Va:ue For- F M4 .} 7 C a S 4 . .)f J I I, :j Azr;?S �r--St)I �r1,00 1'0 -1)3, r'30C r JulC — ----- ,.•: -j .`�.jj llj��l I � 1 l; i AL4 r1J , 333 2 3 00 1 1_9 r l00 41 r JIJ0 Itfe: :he legal and ect:itabie title to all pieces of the move—?esci�cd :eat estate is solely is my Sa e. _o Trt as �o1lo": �t Lxstian of Ret•1 p-ep.is7 + !jtL11e oI :fete Holders ---sk {^.I ish _-10hRererences: Old Na'- coal Bank, 3rd and Pine, Streets , c-atja - Trade-- VISA '*242 _03-5'5-7RF _ _ -%a yandNelscn l{{ 5 .-353-363 .irOCr\S—. Y'��.ne YS - / 06-4 336-80 I HEREBY C-RT:Fy t`.at the fcregoing figures and the statements contained herein, submitted by me for the pur- rese of obtaining =at:gage insuzance :ender the National Housing .act, are true and give a correct showing of my financ:al _ - condition as of t.!.ss date. Sied ,his 16t7 day of fJece7ber 19 90 i g., 1) " Name: T1.cnaeT Swinc111 - 'WARNING U. S Giainal Cide, Swction IQIQ.Title la, U.S. C, " Federal HoustnI Adm—strauot3 nraae- icuoas pmvtdcs :n pwt: r' *hcever, for the purpose of . . . of, ::ezc-rg .0. Say asY Lb* ♦c :ca If sucrl A0m4r.43usl1on . . . =axes, passes, utters, Jr publlaLes any statament. inowLng :f.c same :0 re false, shall is fined But ::cra :Lao S5,J00 or =pnsoosd not =ore than two reef 1. 7f octA" F 0 c FMA r1pim b4o PERSONAL FINANCIAL ASS CREDIT ST Vi ;L 1,L" ST PrVieic-4 Norte Location stzlte.Cent of c 1-. A 6 d.- !- s v N,rmhpr __ As of &ISE TS L I A P I LIT I E S AND %4T VORTM Arentmto pa?shlo 3 ......... arr) an ce) r jr. '.*so !ham C he oast fto, --a+ d 10 ....................... .......... ga�aa rm :and mr-W_ ...................... .......... ......... LrI i L S ow'"s ;'E'rehig in :Vag 'hats Cn-W redo 1_r C-!�Stlftl , W-. ...... I- �f other :I*no at L L t Li . . . . . . . . . . . . . . . . . . . . at CVN&f C W-rrd 1I a.hilit lost . .. . . . . . . . . . . . . . . . . . . . . . . . . sc= . . . . . . . . . . . . . . . . . . . . . . . . . . . . S.......... . . . . . . . . . . . . . . . . . . 0taj C'J. t It L�At'jllt3f$ ............. �!_ . . . . . . . . in !hen "No yobx ...................... jacps ^n ond!,LiMinia) 72,140 1,:V - on nvt a :-ma -,avehir to -,an r .:.e _ ..~tea oda) ; .. :.�. ..'� : , 'aa -war V amd . - at I el 6 o c, . 1. . . . . . . . . . . . . 14,000 S. . . . . . . . . . k� k_L�T b, do' . . . . . . . . . . . . . . . . . . . . 6 0 0 . . . . . . . . . . . . . . . . . . . ...... TC'T Al- '_:Al1n_MFS Is ' LL NtintT,-Ih 3 6 TOTAL 0 0 f ',Ic7es Rece:y=le: ats -.,r anv, due [mm parinem (P), employe -es (E) if itly -.iotjKage itqrnents of other liabilities are Specify: pii-;t due, spr-f-ify- P. E N, U" Adelman Amount Tyrr Liability I Ar�nurrt I ty acl- _r ner S -purity .-,:�a I raPac i f .c_St�attl e. WA I _ 24,000 (-,t) f0 *S AS�,Oc. I nC. 1 6-000 (It Sellativ -50 (q) e:) 6. * 1' ty c, Inc.oa tte I i4otes Paynble: tit) (f.,ce value)__ -80,000_ C.M. F, I-ecina Utt VOYAW& to 'MQUnt Date —1)(ME e d ~.sets: Legal Proceedings: -gal proceedings have bran im-tituled by cmditors, t-d A=ount I Offsetling Liobtljty Jf dily it or anv unsaunfied jud,;mr-nts ter-niiin on record, give full de- tails. NONE- jr. requirea use separate sheet of poper writing on one side only. (Uvrr/ Lk OCT t rKL ou Oral L,in'. '.3nk NssoC,ation SCHEDULE A- STOCKS AND BONDS + c:urrnt Varket Value Cost Ij r,t os+e of t+t, �rarr.+rar) riner Sea=oods Association, Inc. ! 4-POO II %/A I u Lr.t.a, !game EsrhanjM SCHEDULE B - REAL PROPERTY (INDICATE PRIVATE RESIDENCE, If ANY) Location and Drncrip;lon of Land and SuLi+imgs 0--ted I Grlg:IAl Nark at Asses►ed yortgaged AQe 1 Co9 i Value I Value For- I t ine.v+d For- _ en' .. _ PM'aril rl ;neon, i 5 2E GQ P 00 I 17.140 1- 11 00 affenta*j -. )ticn ! 25 ! Er. n (1 I 7(1 ^IIiZ_ �n n�?o- u iy —";n.!.Pii + %S I ! I•-_.:UU t 15,;,tiUU+ I /L,14U I ILI,I�Q Toe legal and ecui:a' ie :it:e to all pieces of the estate is solely in my name, except as follows: LocCica of Real Pm--erty X*zno of Title Hcldm-a - — arCl - r,r- inz--,,r !_`r --- - References: Seattle First !rational Rank: 6th and Blanchard, Seattle, WA 9°1Q1 Bank o; S-arnT;ooa, P.O. Bnx 669 Stan::ood, t-:A-- 1'��,'iJla�s Gi.icnal ,;anF; Q= ha5n)naton 1414 4thi Ave.,^Sea ttle, WA - { zno an►: ? U. Gox gib, E�et=ett Ob — -- -nde- ;rericcr, :• ,-..ss P 0. Box 1�7-4 t ^cnix. AZ 4:,�0? Acct P'ast�_rcr,:r,.t rLC� .,� -� 7-� -77 _First P4,-4•_r'�rd D o QnY 1?c?n c��rtlp _1y� nBlll b' S c ur,t 4�Si-9=;7 _-�75 First r`n' Carr! P_0 �Dnx 12920_cet_ttlo. 1.", ° ^,y �t`lp. ✓'A Q21 t _ I HEREBY CERTIFY that Ltte foregoing figures and t_ite statements contained neretn, submitted by me for the put - pose of obtaining mortgage insurance :eider the National Housing Act, are true and give a correct showing of my financial condi!ion as of this date. Si6ned this 13th day of- Noveriber , 19 80 ! {% Michael A. Utt WARNING U.S G'tmina! Code, Section 1010, Title lb, U-SG, "F•+deral Housutg Adre.EnistrstJOn tranw actions", provides in pert; 48 Whoever, for the purpose of .. . itifluettcing in any way the action of such Admuusuatton . . . makes, passes, utters, or publishes any statement, knowing the same to be false, ... shall be fined not more then SS,000 or t y nsoned not more than two years, or both. I' E L C HUD WaaG., D. C. 64;C7-P Rev, i/67 F4A 01 40..41i l: S :t•.►'.Mir 7r -I-, W...o'+a.a .na Aa...►�.i .963 .!c!•u-•ir.rc .:�++.-t's►r:a 3,.N.� F.v...r r+�. C1�0�.� PERSONAL FINANCIAL AND CREDIT STATEMENT Project ,Nome Number ` Location Statement of J3TMes I„ YO lnQ As of ceDt - 1 Address 23843 S.E. 111th, Iss;Jcuah, t•:ashinutcn _ 9B009 ASSETS LIABILITIES "D NET VORTM Cash on S axsd in b 4nk • (y a✓� of d" al t ary) P I ( AI an es) aci-fic,:7ational.... .. ......... �..., .61000 I R.�, 6,000 peat �le Fi r5t .. ...6,000 •••••• •• ••••• A,c-vrzar+ceiv&Wa IS...I.14c Ao L.+c Dovbtsnt Acmaate , _ .17: 5300 tiot*s raceir,ble !! .......... :..N e: Do Ubt tnl Vae, 1 .......... St ncx a and 7Xr-nd a- Y rari at V al re (5cSft4n1a A-rerer" side) 45 , 000 car -+at u►rts �-' fdai`a.e) :ew1er...•r ............ !! P1Ove ....,.I000 Ct�;c-...?5..Sz r�...... � 1000 ....... ...: - 000 T o t h Cure-tt A s test t ti a al i- rot-wnT - at net ` 1 ( ��.,• :i. ; re-erse ua.> i t ..42.0, 0.0 0 P %f t•c!:usetT and =a z; -v Tt ^:r:.:rit - ar net � J 0 .. area L L 1 a :_ aL:r arrce (C a sn . aI oe Less ioeSa = . . . .•. 1-0 ►s a*t s X .Other -;Sacnbr .......... S I + , 'o Q 0 .......... -_� ..................... .......... ..................... .......... 12,000 �...... TALAFS=1S � !S 542,500 - • Cyst. _nc::.::: q .:n(tro v.-rtttt. :�•, _r. rw KUotL - %ccounrs cut' Nicfes 1Ceceiv Cble: -_JMM 4-mounts, if any, due from per :era (P), employers (E) or (R;, st,ec:.fy• or RY ti.rne A ■ I Ammount �- I __a Accounts payable Votes paTtable r4bta payable in !e*a then =%e ! * ur t $41'e3red b7 gtrea an Iand and buAdinjt)+ �•*►� t ;.Table tan !*at •.SMa one rose (Sac3rvd b? chattel ne,et s nir e or other :Jens on as arty. . . . . . . . . . . . . ................. tither ram.-�_=aSt:Itiesc _ I? 80 l i ................ �s.........j I ........ ................. Tntal CZLr t tLAbtlJtJ*s Tf !mar (�K'.:7fti •-'7 :JC7ft� ( t jas;aa an and ec.d:Jd-r=t) 71 J, 10Q L�. xs ; a!ah3e a -,ors L4ap ! l ow 71 ai s.raid b y cs' ■r 14 I -.: =c.rtpay*s. or nT:.wr :.i*ne ca _car.^. , 500 Lti `ear !lr••.: Ues kdaa'=�.Se) ................±i.........j ............... i .........j ............... Tt7TAL L:Ai1,; :,E5 S - r = U�l .Net Worth ;1 1 , 000 i :-TAL :_:A15?L 7=S I AND NI -. 'AgCw'li t s -00 Y !_ Loellnqllencles: If any taxes, mortgage payments of other %abtl:ties are past due, spedfy: Tyre LiabtllLT I ocs>n ! Guam+ ancns t � I -- Notes raycble: lntLurcnce: Narur:t7 Life (face value)_ S_1 20 , 000 PUT able to ! A-moent Dose ?enefie:acv r * "r t;y^c' `•,!_iF ! P'ecged ,455ers: L-gal P- recings: If any regal rrocercings Save born irstltured by crrnnors, or any •a.'tsactsfied ;udg-ner.ts re=ain on record, give full de- tails: \•�l.T t' r.GTE :I -lure space .a regLut" sine separate srteet of paper wrtt nQ on one side only. ,Ucerr SCHEDULE A - STOCKS AND BONDS Dosc, ptlon I Cost First Co1,.L*nb1.a Manacri.mp--nt, Inc IS 450 I :JQOk value I if L,.sted. aue of LA ( tslw, .ews►i♦ t Naga Fjcbange 46,000 I N/A i Mae SCHEDULES- REAL PROPERTY (INDICATE PRIVATE RESIDENCI~ IF ANY) L,ocataaa and Desc=-,ntlon of Land and atuIdings Cwnsd I Ae. Gnt;:nal I Cost I )Aarset I valam I Assessed Value i tiortriayed For ;nsured Forte Far - Private e-si ence i ! 48.000 130,000 130,000 _6�j000_100, 00 1 I I i — Brlvate =esl-Fence I11 i 72,000 1170,000 170,000 64 000_ 98,000 MEN rr;vate ;esi-once 120 1 31, 000 1 50,000 50,000 24 ,000_ L 0 0 �4 0,03tJ ��O - __�� 70,100 Mae -m.us 2_4,000 20,000 420 0G.0 210 000 .C-3 000 WIN :ce regal and e-cuitabie 'itle to all pieces of the :1-21 estate is 3ciely in my name, P%cc?t as MEN _ :.oc+2lon of :Zeal ?'=^party Vase of -.:Us HCiders - and O^y St- - e- I -.':e, 'viA ! =-:7es and '..'cn ,�- Reverences: Paci-ic National Bank 2201 156th -venue N.E., Bellevue, W.:, 96008 P'-cne 292-3438 '. ado- i:cr :strcrl - 265 Be'_levue Sc:.-re, Sellevue, WA J _ I HEREBY CSR'IFY :.`:at dhe foregoing figures and the statewents :;ese of chaining .-ortsage ins:uance '.:odes the tiational Housing Act, J .cnc.-,on as of :i s date. contained ie ein, submitted by me for the r ut- are true and give a correct showing of -my a^ancial F 1st Sec=�.;.ber 80 Sii;ne-d !!us day of 19 _ A Name. `James L. ou WARNING J U. S. G-atoinal Cade. Sectioo 1010. T1tle I& U. S. C.. " Federal Housing Ad--strsuon trans actions", provides as par[; '0 Whoever, for the purpose of . .. ?nf:ueacLng Lm any *'ay the actaoo of such Ad. anisuation . . . ="ea. passes, Utters, or poblist;es any stateaent, iaowang the same to be false, .. shall be lamed ow more :han S5.J00 or =Vnsoned not =ore :han two years, or both.&$ snr Project game Location Statement of u . . .., - ... • ... ....... I Iti---I Y 1% Fe... Asr••.04d r IPI a.. w..% :..0 w,ra. tl!M B..apat F.,...., Na. 67-Rp027 PERSONAL FINANCIAL AND CREDIT STATEMENT - I I -- --- --- - --- Number Orest M. b ,�ancy W. Prockiw As of July 1 Address 17171 Gresham Street, Northridge, CA. , 91325 19 80 _ ASSETS ----_— -- ---- --- _ _ LIABILITIES AND NET WORTH -- Cuh on hand In barer. -- Accounts payable --- ----- �S 0 (Nara of depositary) (Sal once) motes payable fr 1r:Q...... 1 ....... .. lkhte payable in tree than ,(� . one year (secured by rnorl- . . •"'�""' """"" gages on land and buildings) 0 o '• ................�... Accounts 100 b06� 52 MO. r ..,, Debts payable in less than one year (secured by chattel „t, t•,.�• -�r_ - •,, ., l..lV 't'.I mel�able s .. .... .y^ •t•' '•t r . "L��aZ 11G'.:btTUt MC30t11a _ --- . .......... mortgages or 00.er liens on as ale a) -- _-_-_ ._.--_ ..- - Yotra fritetAA14 S ... I . ... . . . . . . . - - - - 'k-tlr �++,3rYMItIttt% = //�� 1OP..Yo.Q. . . . . . . . . . 0, - Stoci a and Fonds - Market Other curT•nt liabillties:- Value (Sch.eduls Mrererse — I (dracnbe) sea tide) 34. 4.61,.,40 C, arg.� CC 000.... -51 ... s2 t - Other current assets (describe) . . . . . . . . . . . . . . . . . I f . .. . ... . . 25,000 - Mae..'.�.°..'_.��......... . I :fob' .......... 0 ......l Totr.l c�nrnt Liabtlitte. -- - s�,�0o.--- ... �? - - ... �.`t ..�JS ............ :L'.t.O... . ................. ' '<5ls pay�.ie In more than- one year (arcu *d by mart•- I f - -J --- - Total C.nent Assets 1. j - - - S -1 l 6.,.2 a_:.. `! Imes on land andbulldings) ; U ::. . . . . Rea: Prcrerty • at nets I L)r5ta paynble in more than ( 4hrQui! :rterrrsa arch) 4 2G e0D.Q one hear (--curd by chattel I - ---- _• I - - _ --- - -- ----- I V a0! nrry - ^, .:;ent and mortgaors or other liens on I - - see _ Fuu tresat notI 1 ...... . . . . . . . . ( - - 6,000 Lire :r.sLr`nce (eaa,� .aioa - e .1''.� ..:•Gt3�.. ( 6 t 000.. . _ less :o.cra 'S .......... O•.her liabilities: (dracnbe) j AM O!h,er assets �descnt,ak . . . . . . . . . . . . . . . . .... . . . . . . . . . . . . . . . . . ( . . . . . . .. . • • • • • • • • • • • • • .�... Jj.rt ."OTAL L:A2ILli.E9 Worth Ic_7 �61 00 ..................... -. — -6,v00 TO;Ai. AF S F. v Ts 02, 261. y0 :OTAI- L:AF3ILTIES AND NF_ »cuTta s r. 261 00 � • Cc et, L�cl:.� �r^.eT.rr1ls, •Fs Cr,rrcla'ron.-- --- --� - Accounts c;nd':otes Recetvable: Delinquencies: A:--ounts, if tip', due frcm partners (Pr ), employees (E) If any taxes, mortgage payments or other liabilities are or re:atives (R), specify: past due, specify: Th;+e (P,Eor R} hams ( Addreas Amount ,)Te Liability I Amount � Cher^ataneea — �- ---- Notes Payable: lns�rcnce: Maturity - L::e (face value)__-- -- -__-_ s 200 • --00 Payable to_ I t.mount - I Date -- ieaeftctery e.'o :�rcckiw UC3 (Car Loan) ' b,u0u �0-trios._ —��ancV - -- - Vallee Fed.i 6,OGG-60 :,cs. Pledyrd Assets: -------- ------ 1 I - — Legal Proceedings: To Plr'ged I Amount I Oftrett!ng I.iablllty - - - - --- if any legal proceedings have been instituted by ctrditors, - _ ne -� -1 _ —_ -_ __.-. or any unsatisfied judgments remain on record, give full de- I -- - - --- - - --- - -- - --- tails: - --- ----------- -- --- - -- - --- -- --- -_- _--,- - ----- -- --- - - ----- hone -- ---- - --- — --- r � NpTC. II inure s; ace is regwre0 use soj.atare sheet of paper writing on Line s.wo only, ful er) r ScHpnoLc ^ STOCK S Aw�*oNo» -`- - ` `-------`-- �~~ "-'"°^~' ;� w --^-'--------' If Lived. r�*°",.r^°* c"*t / ' "'�~=" � I_-- --�--�'I -� $—�-- —����b��'�� |-- - -- -- -----�~,-��`='�'� -� Stock -^--------' - - - -���`O� , � ----��~-�-�=='--' T ��bie -----------'-----T -�9���� -� -'--- - - - --'----'--' - b / ---------� -�,���� ��} -�-- -- | ' � '---- --' ----------'--------- | / ---- ' ' � '--- SCHEDULE B-REAL pROpcnry (INDICATE rs/v^rc msoocNcs' IF *wv) L"c"'i"" and V°"",iru"o | o`."`"°l v°,^~t A°,^""ed n,"k"^,a "rL""a wmd a=:a^"i" o°m~d � ^ar | Cost | v°I"w r°/"* | For- 17171 --- --------------------------- ----------�--- |�g--�'-��,-�-- -1-^,A '--'-' �-��,35����,4O9- -- `-~ - `-------- - - ^ ` --- ^ | | | | ------�--'-'� ----- ' - ' | � �- ' - � - 1 - � ' - | � - � - - kLu --- ---- - --- ` ' | ' - 7/t&,/ ol:u 'u uU 7(p,rs m[tlnr ra� ",tW, in `ooslv in mv '6n, lows., m LL'Cv!ion of Real r'"r°«r | x",° of nn~ /i,u~," | -_'_' --__- '--- ------------ --' ---' - - m | �SON / Rr/e,enccv/ � '- Coi-pd Cali--ornia 2.,nk I6633 \/.'oiuca BIn'�,/�/\ _ 2 ank~ �,o�~ ~- � --�o l HF.RKEBY CERTIFY that ,',.r [up°i,,oin; fiCu,r` and t".e cn,�wir~6 �,,°in, ,u�nm,d 'by�r /o, ti° �'u~ �o,c of��:^i::��^�n� �� �o��� �:,�co �E,, t��^ n �aonol ;iu��ing Act, are t,uc �:6 Qjvn w co,,~ct ',jjC-pjnKofcy its of t*Ais dale. � _ S'i�'nedthis didyuf -_ _-_ , lA � C:",-,,c) U.S. c,`rr/ °",^"='`, ;-=,.^-" in r°,r ^"^^~^°'. for the p~rp~"° of = Lieric ingthe °m^"", "..^ ^.=.=",,°v"". . ' m°"°", p°°"°s, m'~,". ^/ ^ ricwLng the "°m~ to " a=se.,,~ °°°u L° f6""u "w "^,° m°" »5.*00 u not more then two years, °,u°,h.^^ W.muZO'^".^,o.c. • �iCi:efl;lLll To i erfi` nal : iwincla1 and W Oki't StA 07. -1-it Of 0. ♦ Iil S 6 u I t _ - Ci9 Ul:t i t� � i i'� u . �5 3i � o L--A; .- to C7 a a r, w vr�r:ot:s �.�� .:.,�: ��hJ� nor a�z u:�i; ivn artz cc su: r�~)y Services. i � I.,7c3:'c•n o A --,a ;7-?mts X_-e �, � `731 u ��•;t_t 1 � e c � �� - �- � :e o: F�ic:,r�n Sr -::"re E-d. 1 $6,3: 5, 400 $5,191, 400 ^- �+ Ric.lzcn Park, llli iaiv .'�•.I �,•f-�'. 1 LI' I'J'1, '; Richton S.:.:.3r@ iir 1 $5 3i9 000 $ti 37ti 000 '' .10€' • �' Ric' ton Par{, 1', 'M .�.a;._. .�.�51.. l.► .. r ,. , ' • �5,1 5, 63O. -, l $4,21 „' `' ''35, 600 ' •1JU , .•�.,•',. 111,1•:-l.'� 11 ' , .. .. •�r73/�O�,SU1i, / $ti,7•tU,a' 00 ,1 ' •�J�`, . 'J� .. :. • St� , '.. "$i o5;;�0, $1�?90 coo / 1 I'i�•..aaiiV 1Lie, � t.�.ai• , " I + 1 ,. �� 1 1 1. 1• , •' ' , , , � LIJ;•vr. .t�l 1al :,_.rs:'. ; , 3•, ;?., ov'OJO $2,i70,600 .. �..... _.� Via] / i t� ai a• ', • t .. . ` , '.. 1 • !1 .�u,1 V1_..i••'. L•'YJV / 300 ' 7 53U 400 1 � • a.UG ','. ,' .. ' G.-.-., =� :,��. '.1 •, 1 . . ;y••,.,1.,., 7...u•• ,. y3, 9n�, �00 �€ - , l:C-_:. :'allca_y • r' �0t 3,536,I00 '111'45,600 --. :.�:�.::, G�d:_s ,. ''',�� :1, 1, ";� .. $0,219,5u0 •' • S'+,9ci9,000 .. -Ir .25� ' ,. 'z, 1 $.:,274,700 $2,515,400 .tub �_••_�:�., $21%73,6v0 - $2,2:, .231 :::.. :�•!'' 1 $2, 405, 3uv $21v7>7, u0u . 236 $4, 130, 200 $3, 550.000 . 05€ rl�:.=sac, I11• T -._deriy 1 $4, 660, 000 $4, 000, 000 .05€ , $11730,200 $1,430,000 .10€ . J.' '� 1 � rl • / • � 'lll , 1 1' t' . 1 1 � 1:�, . / . 1 • r�u • . 6 �'r..W:.'h.>iJt�Las:se:"'s: \'�': ,•.'A? �:9f�e.� ..• ^,...1X :: +.-.. '. ,';:�.:r ,. :rr�Qvs , PERSONAL FINANCIAL STATEMENT (Suggested by Federal Reserve Bank of Atlanta) Name t o_n,_r. r,itchel-i__—__-- To: City ��t_icnal Bar-k-_ iami .__BANK Address 14i;� 1Cth Aver i_rli, F1�_ 3D13L -- - ---- ----- - ------- I make the following statement of all my assets and liabilities as of the 15 t h day of Va rc h _ 19 _ 1 and give other material information for the purpose of obtaining credit with you on notes and bills bearing my signature, endorsement, or guarantee, and agree to notify you promptly of any change affecting my ability to pay. (PLEASE ANSWER ALL QUESTIONS, USING "NO" OR "NONE" WHERE NECESSARY) ASSETS LIABILITIES AND NET WORTH Cash See Sd,ea No. 1 $ , . • Notes Payable to Banks, Unsecured s —On bona -and ^.eNncted n ba^►, - - - - -- - i t - -- L •e; Pc.r-,.. y1 c i. See Schaa No 1; _ L4 1 �-0 Notes Payable to Banks, Secured -- n U. S Government Securities D sec See Schad No I -�- Accounts and loans Receivable L - - - - Notes Receivable, Discounted ti ba-,s r,ra••ce cerrpcn,es. etc. ----- ----- -[ - See Sched No 2 See Sched No 1' Notes Receivable, Not Discounted _ d N See Scheo 2 -- -- - - --- - - - — - — -- - - Notes Payable to Others, d Unsecure - - - - - - -- =--�,- .7C . n n Nato Receivable, Discounted W,th barite. (,nonce cam pones. etc ,See Sched No : � ��� If Notes Payable to Others, 3 , BCD. 00 Life Insurance, Cash Surrender Value loans Against life Insurance Do not asd,,cf loons See Sched No 7 -L- See Sched No U Other Stocks and Bonds - -3,_ -- iSee Schad No. e!--- -_ --- - � '7 L --�-`:�y�-�---- -- Accounts Payable - — -�- Real Estate See Schad No. S 1 , 3 ti , r ;, ;-' . r- Interest Payable Automobiles Taxes and Assessments Payable Regnte,ed in Own Name. _ �!_r-� � —__-- - _ _ See Schad No S, Mortgages Payable on Real Estate - - - _ __- _-----=See Shad. No.s1 Brokers Margin Accounts --- -- 10 e COO. Other Assets ;tt.m,r.;Intcrr�st in -_ClC _ 90,000.00 t C h e 1 1 ii `; G C i a t 0 S - — See Sched. No71 Other liabilities -- -- --_-- - -- ---- -------- -- ,Itemise Net Worth f Total Assets ; 1 3 5 � e 3 ? ;; ; Total liabilities and Net Worth $ 1 3 5, 8 3 8. 01 is , , SOURCE OF INCOME - PERSONAL INFORMATION Salary - - Z C J C Business or occupation Airline Pilot Age r 58 Partner or officer in any other venture Princ-iIJ�,1___Caribbean Rea11t,✓ Group Bonus and Commissions _ i G L, U Dividends I n t [, r e ' $ 1 , 6 L ❑ Real Estate Income_-_ -- _ y_ $1.1 . E'(.%? Other Income-Itemite --_--- $ 1-1 e E J Married y [_ ,; - -- --- Dependent_ Children 1 Single ---- ---- Other Dependents 1 -- --- e- n I : i . G r t '; y r. (2 1 , 9 J �' -- - Total $ 70,204 - --- -- -- - - -- -- --- — ---- CONTINGENT LIABILITIES GENERAL INFORMATION As endorser or co-makor - .- - -- - --- - --- --- -- = PAC Are any asseu pledgedi pledged?--- . _ - leases or contracts Are you defendant in any suits or _On -- — Y e c Legal claims ---- s I': c _ legal actions? provision for Federal Income Yc: Haw you evar made o composition settlement? Explain: r` o Taxes _ _ _ -- - --- $ _ _ _ Other special debt - -- s �. o A Have you ever token bankruptcy? Explain. Pill e SUPPLEMENTARY SCHEDULES No. 1. Bankina Relations. -- - (A list of all my bank accounts, including savings, and loans) -- Nome and location of Bank --it y %,,tinn_itl_1,1i,nk--- - -- Cash Balance Amt. of loan Maturity of loon How Endorsed, Guaranteed, or Secured 1 'our, `i['l'-# 27 --- I,crl Funris -- - 1 i,Ei /Ei _P— — D.� 2.,3c 0 ! onth L,jijl tji if,n4.-f.-1V L:entc.r GU+ IssE9TH�t:#�►El II tt s, xr.,•-o . ., ... No. 2. Accounts, loans ani Name and Address of Debtoi James i�oecl<r�r -« Y. All No. 3. life Insurance m Name of Person Insured Nami 1 F on;:lo",itch,, if it -- ,. No. 4. Other Stocks and B Face Value (Bonds) No. of Shares (Stocks)------ 14. ��— Description of Security Registered in Name of Cost ui,�-- Present Marl, PtValue 14,23E Income Received last Year 1,--Dj_+ To Whom Pledged g nc Shares f-:unuv Functs r,_:= c Cyr d No. 5. Real Estate. The legal and equitable title to all the real estate listed in this statement is solely in the name of the ,� ` r F: X c E'; . 1 C V Description or Street No. Dimensions or Acres Improvements Consist of Mortgages or liens Due Dates and Amounts of Posments Assessed Value -�r: �r-�; Present Morket Value 1_,_��<:_,� Unpaid Year '�_�" Taxes — 1 Amount — _1,y�� ,.I��,ve/�1 ` ..;, -' 1_7_„�--- I'i-_r��e i:1u'•I �_--- ._c ^ �1.�1� {, No. b. 1 buy goods principally from: Nome Address Name Address No.7. Brokers Margin Accounts. List the names and addresses of the brokers and indicate the net amount due to each: No. S. Insurance Coverage. Fire Insurance: Buildings $ _—_— Automobile(s), Household Effects, etc. $ ._ ;Indicate if policies have extended coverage endorsement: -. ` Ls - ; Liobility Insurance: Automotive $ a JC__ �_�,.., Personal $ - _. _ _ , General Public $+ a L a '� i Other Insurance (describe): i' s r t~ C; U i LC G by -P1 0 f .11 G Date of latest independent analysis of insurance: 1 �' E ____ Indicate edequacy of coverage: ___ c k • --- The undersigned certifies that each side hereof and the information inserted herein have been carefuily read and is true and correct. cri". 1> i Date � �. � - i---- - -- --- Signed . P.M MATTIIRWF N 'WHIGHT. 1,-, '. 14 WALL STREET. NEW YORK. N. Y 10005 TEL. (212) 267.4000 BALANCE SHEET June 30, 1980 ASSETS Cash(Note 2).............................................................. $ 232,289 Securities owned —at market value (Note 2).................................. 9,984,582 Receivables from'brbkers and dealers: Securities failed to deliver ...................................... $2,033,655 Syndicate and joint accounts .................................... 146,069 2,179,724 Receivable from customers (Note 5).......................................... 986,664 Accrued interest receivable .................................................. 175,458 Good faith deposits ........................................................ 11,200 Furniture, equipment and leasehold improvements —at cost, less accumulated depreciation and amortization of 585,5�S4 (Note 1) .......... 57,788 Otherassets................................................................ 499 TOTAL .............. $13,628,204 LIABILITIES AND STOCKHOLDER'S EQUITY s Liabilities: Short-term leans (Note 2) ................................................... $ 5,773,635 Securities sold not vet purchased ............................................ 58,720 — Pavable to brokers and dealers: Securities failed to receive ...................................... Q 4 Syndicate and joint accounts .................................... 458,071 3,420,037 Pay.1ble to customers (Note 5)............................................... 1,210,021 = Good faith deposits payable ................................................. 8,000 Accrued expenses and other liabilities ........................................ 383,014 Accrued compensation...................................................... 359,824 Accrued income taxes payable ............................................... 326,000 Total Liabilities ................................................. Stockholder's equity (Note 4): 11,539,251 Capital stock —authorized 2,000,000 shares with par value $.10 s each; issued and outstanding; 1,150,000 shares .................. 115,000 Paid -in surplus ................................................ 761,669 Retained earnings .............................................. 1,460,284 Total.................................................... 2,336,953 Less capital stock in treasury, 150,000 shares, at cost ............... 248,000 Total Stockholder's equity ...................................... 2,088,953 _ TOTAL ....................... $13,628,204 _ 6 See Notes to Balance Sheet ¢ ._ MA1 rrrt -,ws .& wim;trr, INC. NOTES TO BALANCE SI IEET As of June 30, 114,S0 1. Summary of significant accounting policies followed by the Company: The Company is a dealer in municipal secur- ities. Purchases and sales of securities and the related revenue and expense are recorded on the settlement date, generally the fifth busi. ness day following the transaction date. Underwriting revenue is recorded at the offer ing date. Furniture and fixtures are being; depreciatec on a straight-line basis over an estimatec eight -year life. Equipment is being; depreci. ated on a straight-line basis over an estimated three -•ear life. 2. The Company borrows the funds nee.iz_:i to settle each security purchase trantiact;::r: under clearing; ag;reenlents entered into WWI bank and a securities clearing; corporation, Under the terms of the clearing agree[nents ::li securities owned are pledged as collateral !,.'If such loans. 3. In the normal course of business, t:l. Company enter:, into When -issued, delay''(.! delivery and underwriting commitments. -IT tran,;actluns relating; to such l0[1l[nitlllellt; Which were open as of lone 30, 1"SO had material effect on the financial condition of the Company as of that date. 4. The Company is subject to Rule 156-1 under the Securities Exchange Act of 1934 (the Uniform Net Capital Rule). The Rule provides that aggregate indebtedness (as defined) may not exceed 15 times net capital (as defined). I , As of June 30, 1980 the net capital of the Company was approximately $1,271,000 which amount is approximately $1,037,000 in excess of the required net capital. The Com- pany's ratio of aggregate indebtedness to net capital was approximately 2.77 to 1. 5. Accounts receivable from or payable to customers are amounts due on uncompleted transactions. Securities related to these un- completed transactions arelnot reflected in the balance sheet. 6. Future minimum rental payments required under noncancelable leases as of June 30, 19SO are $116,000 for both 19SO and 1981 and $38,000 for 1982, the end of the lease period. There are provisions in the office space lease for rent escalations for increases in costs of labor and taxes. Wk ....vs . V ::--sir',:;5........I- 11U."I'I:I? WIIfT'1.11:1? A1,SI�7\Nr %I1 t: PRI �11)1 NI :'IL• 1.17 .1.171, NMXrTt1r:w5 4 Wuwir•r, INC. February 13, 1981 Mr. D. A. '•Iitchell c/o D. A. Mitchell & Associates 1400 N.W. Tenth Avenue Miami, Florida 33136 Dear :,Ir. :Mitchell: 1fmli, \ Y. III1)1171 It has been our pleasure to work with you on this project since February of 1980, and we are lookin, for...ard to continuing our services in relation to the- fi- nancing until it is successfully completed. With respect to the information that is needed: 1. The authority of the signatory: The under- signed is an As,,istant Vice President for the investment banking firm of '.1atchews ': ',,,,right, Inc. 2. The financing ill be through the sale of ta:.-ev,emnt mortc;age revenuo bonds, with FHA insurance and complemented by a UDAG grant. The bonds will be in the approximate amount of $10,000,000 for thirty years, at the best r1ar',:et rate available at the time of sale. 3. The amount of the bond issue will be approxi- :atel", $10,000,000. It is estimated that project status will be sufficiently advanced to begin preparation of documents related to the bond issue within 90-120 days. FIL.% insurance has been applied for and the UDAG grant application is being, completed. Preliminary architectural design and specifications have been completed. 4. Th6 bond issue is intended to finance the non-L'DAG portion of the construction and permanent loan, and related costs', for a seven -floor, 720 bed health facility, incorporating a 288 bed skilled and inter- mediate care nursing home, for which a Certificate of Need has been awarded. It is understood that you have avail- able or committed $2,000,000 in equity capital for this — project, which may be also subject to receipt of the UDAG grant. �1 I f.� Mr. D. A. Mitchell Page Two Februar•: 13, 1981 5. Conditions: All conditions mandated under the terns of the F11A insurance and UDAU grant will be satisfied. Other conditions ::i11 be those that are usual and customar•. in such financings. These include an investment grade rating from one or more of the nationally: recognized ratin'- services, and an approving opinion of a nationally recognized bond counsel. 6. Alternative financing riechanisns: We be- lieve that the above financing vehicle, of ail availablL, alternatives, will result in the lowest costs to all parties to the transaction. As a nationally kno•.:n investment banking firm snecializinz in municipal finance, & Wright has manas-ed the under:•:ritinq of several billions of dollars of bond issuer similar to this project. It is our intention to proceed to close this financing as quict:i.:: as possible :,iven the conditions specified above. Sincerely yours, �. Peter 1%',iittier PV./ pn W I F- a LL Western Pacific Financial Corporation :, January 28, 1981 'Mr. Don 11itchell 1400 N .1 loth Avenue Suite 16C Miami , Florida 33 1.36 Re . Jac c.;can Tear'; ., ^;,-tr:;i_n Rei, :D Center 14.1d. 9th Avenue << l5th Street Miami , F1ori da Dear Mr. ;:itchell: T111s letter is to Cnnf4r.:, to 'rnu T':estern rzicific rinanciai Corporatinns intel'CSt and lntl'nt to j)roviGc f7_n�m-clnb for the cautioned pro ;ect In t"ne t:-.-c'L1n": of $Io , no(� oon . 1.Te are s tnncii 7;, by to provide both the con- struction mic Pe=_-inent ,=in,:ncin: It is un6erstcre. t'r,nt ti;c lour, si,.,ll_ be provided at tax- exempt niar't'.et r•'1?:C ti:c' t1 :C_' oi. funding once the fo111)wi.n,,, crnditi' nI t' i'JC 1,c,en :;.t't . 1. 1T!)AG fl.M(411 11'1'.'C' 2. ln,,urnncc ?1-.. 1 C'C';1 C,; :3i;li'�'; 3. t1I1 ci l )T'(1Tlr An 1 T, 7 i 1+7 7 .;i:1 ;i}. ♦ t �.. t . t i, i,.,:- hee.n r , l " i es -,•,Lli:]1 4. All of the rLiIus U rer;uiations of the State of F1 -)ridgy, , II;'I)/:'i�.'', , IFS , anci 1•?c':;tern Pacific Finznci,11 Ccrpnrn-L i on ':rl:, been nu r . It is our opinion that ere shoulc: he no major delays or prcbl.e is with t;te fir.ar.c:n1; once ;;o first conc:ition has been satisfied. 1ti'e loch f.or:aard to wori;inQ with you. If you have any questions, please feel free to give me a call, Sincerely, Gene O'Bryan Senior Vice President GO : scar cc/Barbara Peter:;on Charter Mlortgage J C OFIAM—OR❑ 6. CO r.A F r.1 r I r- F7 c, NFW V(1 FJN r; Tnr]N FyCl1 A INC Fehru•)ry 10, 1981 Mr. Don IMitchc•1i D. A. F',ltche)l F. A,-('c!•?t.:s IP 1400 Nm t h..t °,t 1 ^t h Avenue Su i t e "-C tli.lr(i, F1Orida 3313C Do3r Mr. NitcicIP ll: Thi<, iS ..ritIt•n in res,vn,c try your r t � c: ue,t for a co,-',it-':nt fro--1 c,ur firr;, J. C. Br—adfurd & Co., y:ith rc•_:,rd irk i!•c-- Jac':",un Tr;.:,,r5 'lur,inrl ;and Rt•�-abi 1 i tat ion C,r-,tt_�r c)roject nd tl,t_ U-L,in Du:ttIo:r c'nt (,c.t ion Grant IPcJr( al not. ::t;ndinr. It is the of the 1('tter to ((,',)I,, ... ith IOri for orel 1'i�Inary aI, I1 r-,.:al of "('ur- t_,D^,G a 3L;11cat IU'". J C. P7 J,'ftIrd .. CC)1, ur..'t r..ri tt r (-)' 'A". I c I ',),I 1 ec 1r i t iC'• v.r uId :('..,.Tt•d to .act i, tEc C,3:,acity (,' ur::_r..rit,_r in 7 ,i i:lt.'d and of SI ill!(.. in `._.'d, i,,utC t City elf t"1a.i, D,a�e County, !t ir,, ru taIitit.r J.. r i �'d the 2c., Jr�-'i�•t:.t ft I 1i i�771 .=t't.:,_'( 1 _A t(.` '.J'. :r,C' IPi_ ,art• .,,3t I,ficd i!-.at il'_ In- 1 U� ICi` ij , �'r,r t I -,1"t- •-J. k' 1. ?',t „ UJO' a S 1 0 i 11 i ;r, Cr.:�d iS,ui IP1 ?, _r i „t ly I_ j. r1t_ ir, ti.:,_y'' ar- II 1_!-o r I -i It I•. •.t_' _I:_ie U • tU t:i v k-- cj,,,v fi., it t, ,. ,: r,:t _ 1t !t !_ uf, !t:! _ t _ „1,. t��Iat .J. C. 5r.aJ,10rc: Cr_. .. `J t` t• C U t 'L ..•1r: t at 'LI !! t. _ ., i••c �3i tt'r thr. -a —ird U Tf _ (,` i 4J. C. ?.' rr; CG. :ul 1,Lf� furl. cr ur 1 . T. • rcr ... I -�;,, f i t, i t .:u i t , ca,) i to 1 ar.J/()r I C t r!i ut 11r1 t'? f i-,a—,,ci,lU the La of cc ,' f ;i,r pro_it•ct in t!-at SIC i 11 ion in tay.- i t li(2 a,, i u _: ( ur t t 1'•3t ct,n Le i , ut:d tc) i' ,' =t t rt' f)r()!r'ct . 2. f•;;rr,)vaI ',y J. C. Br:idfc)rd , C(1. , Purct-aSers and It"Jt'rS, (-,f al I pl ins , `,t),-clf Icat IUf15, docu'".Cuts, corjtr"Iic ,(,rt!"t(nts, :and final ft,r , relating 3. Gt 1 i ,t ry at cloy ing of an u^cu,;l ! f it-d upir; ion of a t•uc.-cn is c•d L(,n'J. t_c,uri e ?t inq, 1 •.cnq c,it•vr thine t ' a t the [,c,rd, are the (1uly auth0ri.e,d, 1t-r:,ll, val id .and ;.ind1ntowl it:,,t ioii of the I`: suer, rind tr,:t Irl rL:at on th_a �'(:rid5 I .2t fror". a I I fr•,. •raI ins;, .e ta:;at ion. FcL,ruary 1Cr, 1�51 t•1r , Dun !' i t r !it, 1 1 4. The receipt of an Urt;an Dev-Ior�,t•nt Act ion Grant, appl icat ion for c•;hich is or ha,. t,,'en !.adt! to the U n i t e d' States 1)er,art •a,nt H,)t;sint; Urban De v-Iop'ent, in an •3 ,)unt and character <,uff icierIt to utral i fy thie bt,nds as an er.e pt srt.al 1 i s,ue undt2r the re- quirt',ent.ti of Sc'ctior3 10;(l:D) and ( I ) of the Internal Rrvt nue Cutlt_• of ln1,.14 as art•nd�'d. J. C. Pr,idford Ct,, ht-r 't.v c:r nts to thc• incIuliun of this It'ttur as an exhibit to the a p p I icat-ion fur the Urt:-in D,�.eIop:,(.�nt Act iron Grant reforrt_•d to ab:-tve, It is our t'sti ,at.- that a P.und Purchase Ayret, "Ient •t'CUtt'd at �U ;JOlnt durir,ti t1-,? St'co,id to third quarter of F. ctfully u`:-Iit;t.d, J. C. D V 0 P D 5 CO. Ft t M r r r r r r r Mr, M :4* ALL EVIA71CN iF F iYS ICAL OISTFESS I Instructions: In this fora, crmplete all itms that are applicable to the prcnosed project. If an item is not a�licatle to the pso)ect, insert 'N/A.' Attac:7 acC:*_:oral pages to ca n1e•„e you responses if necessary. and indicate the itm on Form 4 to which the additional response refers. 1. Residential Projects No. Units No. OCcu- pants be- fcre pro- ject No. C.-N- pants a f ter pro- ject crn- pleted hcw Constz-action F0-ahilitation (B) Single • N:lti- Fairly Fanny Demolished (i Substandard) (C) Historic** Restoration (D) (A) Single ?Wti- Fanily Fairly 1 c r• A N/A N/ti 2. Acres Cleolre No. Bl:il d inns (% Sice✓s~..anaC� � ) total Fcctzce G--io1 ished Percent Ccc,=ied before Dk=1it.icn No. Bsilding s otal Ssiare Fcct-ttge G tCa cc]sta--k:ctacn (A) i R,--1.Rhilstation (B) i;s.storic Festcratson"I (C) 74,C * Zhis fo= c-cx-.stiwtes t--.e response to Fart III.A. *• For residential historic restcratien projects, include the r=bx. of units and occ _.ants in Colin D and Col mn A orB. *" For o:=. e-rcial or irr! str:a2 historic restoration projects, include infomation in Cohm C and Colunn B. Pa,e 1 of 2 3. Project. with Infrastruc•.ure Ca7ponents Linear feet of new pipe Linear feet of pipe replaced - Ca;zcity added (units se_-ved, cryd, or other sta_-eard) - P4si3ential - Cxrvrcial------------------; - L,d;st.-ial :btal C.aacit -f Mced Water A Serer B) sanitary (C) 1GO, t 1GO, # 100, ± 4. Prciec s with B�-a.:tificaticn and Street L-=cva7ent Car-ponents ri_-_ccr ire Leautificaticn arr.' street efforts in the proposed pro;e.-t. 1-n6icate thAe sccpe cf t'.e p`o�ect Ly citing Lle type and =t of wnc vir%?e . .en cn mu strL?e s, resurfacing, widening, siae- walYs, strut lichts, tierc!es, etc. Cort;a..st Frc;csed MW facilities wlt11 c:Gisti,'r, cc;diticrs. Ln _te rce�st-iar rail inc ldrdscaped site is craphica'Iy -i*o .:tins in tr,C This, along with landscaping, and off -site street i~1pro cments, sidet:alks, etc., are budgeted at $24o,o83. HE LETTER CITY LF VInl I FEGMRES; LFr SiTC, STREETS & 5:LE'6-,ALK5, ETC., END SECTION IIIA _ • Or,AG Fv>~ S 4 • Page 2 of 2 SECTION B ALLEVIATION OF ECONOMIC DISTRESS I. JOBS CREATED 2. METHOD OF CALCULATION See UDAG Form 5 attached. There are Florida State Department of Health and Rehabilitative Service requirements by lak.., for staffing Nur,ing and Intermediate Care Facilities. There are also Federal Health, Education and tdelfare Laws for staffing such a facility to quali`y for Medicare and Medicaid eligibility to be licensed and to be reirr,bursed. s There are also FHA guidelines for complete staffing of a Program 232 project, as well as my professional qualifications as a Certified Property Manager. 3. EFFECTS ON OTHER JURISDICTIONS Not Applicable. a ►- Lr It LL MAG FOPS: 5* Al i f VIATIM CF ECCN+CMIC DLS'I'FM Instructions: In this form, armlete all items that are applicable to the proposed project. it an itan is nct azmlicable to the g cpcsed project, insert 'N/A." Attach additional pages to oanplete your resporses to que stiarLs 2 and 3 if neces sa.zy , and indicate the item on Foam 5 to %hich the additional response refers. For pumoses of this amlicat.ion, jobs should be stated in Full Tirre Equivalents i.e., two half -tune jobs equal one fill tirm equivalent (FTE) job. I. Job Creation Potential of Proposed Project A. Permanent Jobs (1) Now jobs (2) CE'�* * -q&s id ized n(w jobs (3) Jcbs retained (4) Jobs transferrer) to project area (5) Jobs tsarsferred out of project area (6) Total (7) 8 Private sector (8) 8 Public sector (9) % C%A* * sr: s id ized (10) Average Salary/Wage B. 7tnporary Jobs (11) Construction jobs created (12) Other to porary jobs (13) Total tanporary jobs (14) i Private sector (15) 1 Public sector (16) : CM s.Zsidized (17) Average Salary/Wage Low Ar Mod. Income A Middle Income B Upper Irc me C Zbtal D 37E 1-3.5 3 442.5 15C.4 150.4 - C - - 0 - - C - 442.5 _ n _ r, 170 17C 10 35C - 0 _. - C - - 0 - - 0 - * This fozn constitutes the i-cr--,:orse to Fart III. B.1. ** Ccr:� reloe live nr7alcyrent and Training Act. The number of new CETA jobs should aipz-ar on lire (2) and should also be included in the total nL+ jobs on line (1). Page 1 of 2 crrpute D. PAYROLL: (S.ALARIES): w14n,till Itsle TOTAL. ANNIIAI, i•.nlh+,n jNumber Monthly Rae Tl+"fAi, ANNUAL P+.art,nn mbet 32 AUMUNISTRATIVF.: Dire ('tor I 1 i= 6,250 75, 000 1S. 11OIISF h F F PING: 1Ic►usekeeping 1 3 `s 716 - : . 20, 800_ :� Est. Director i 2 's I, 1, 5U0 !s s 3f3, 000 I[ousekeepi.ng ! 3 s 666 s 24. 000_ IC Supp. ! 3 is 58 3- Is 2 21, UU() Ilousc�kce ►in * I I i 60 is 516 l s 372,000 T( TAI. AI)MINISTRATIVF- I S .. r, '�V �.�.OQtl— --- --- 71L.HSINI.SF.KVIfF. f1 TOTAL M)l'SF -- --- I 12 I ` KI-A PING -- -- - 1, 666 t 421 H00 ---- - 1 — y `,10, 000 ` •'07, 000 33 HLI)G A. (.itUIiNUS,'� Bldg. Upt. 1 ` r 2 083 I 25. 000 ' . ` C;ruund A. 1 s •)� 1, �.►0 Is It r 1.►, UUU LIIN } r►it ",cc. ! 23 16 I s 750 7G6_ - s 800_ C'r ounc3kcc )er 1 1 T. 2 �: s 900 1, 250 is 10 OY,U 30, 000 Aides 1150 ;: 516 -1013, s 930, 000. :1sst. 13Ic} Algr Order•lic•s Eil s 516 s 3:rf;, 200 paint. Alen ( 8 �s VITAL IMILUING 6Gf> _ GHOUNDS 's 6I, �;UO I s .i. t) 1 TOTAL NURSING SF RIVICtS S 1 86.1 U 34. DIETARY: r oU kq 7 11000 84, UUU 137 Orjlltp SA .AKIE$: II I .500 ` Nutritionist 2 s 2, 1916 s 00 Irr(Iti T)uOH(C)TIII 6 1, IGG -- _1>�. 000— Dietary Aides _� 6 - - - : _ 516 _70, s 37,1200 Asst. i''I' % C)'I' Act. Aide 1 15 I s is s -. _ 750 _ 533_ • 135, 000_ s 57, 6t)0-_ Cookshicltpens 18 l I : 666-- s 144, 000 _- R( Pal) !� 9 -- - TOTAL DIETARY r ) s .3.3J, 20Q ................................. TOTAL OTIMH SALAHIFS s 3911318.)0_ I s3 461 6:► 311. ESTIMATF.r) ANNUAL SALARrus ...... .................. 11car•ui�� Spec. 83 1.000 ADAIINIS'I'RATIVE 666 40,000 I)s�•c•holc)oist .10 35 583 7,000 A omis. isc I. 5 Dept. Heads 5 1, 333 80, 000 }'c►cfiatriti{ -}tav Tech . 25 .25 416 41G 5. 0 )0 5, UUO Aledical Dir. .25 1,250 15,000 Speucli Ther. 1 916 111,000 OI']iL'R SALAR}FS 1-; �ti'c�r•ker Central 5upp. 3 1 875 875 31,:500 101500 Dentist75 416 15, U00 } hai-macist 1 1,250 15.000 Ophtholnol. .15 250 3,000 111.ur m. Asst. 1 625 7,500 i i 1 Onwailll lull Lull! "1 "l fiAllll � SI'CTIO` C FISCAL IMPROVE1IFN I' 1. SIT UDAG FORM G ATTACKED ?. METHOD OF CAIITI.ATION Ovcr 30 year 1 i fo of project, new fiscal impact of $672,030 accruc?ti solely to City of Miami on a return of $ .:10 per dollar of UDAG rf>-c aptured lcaall . See City of Miami Plannim, Department, Direct Net Fiscal Impact Model (1979). L =g:; MR—} 6 • FI=NL Inst_-uc-tiers: In this foL,l, delete all itr_-.s t'�1t are a rlic le to tm prczc4-d i_ro)r_•ct. If an it n is net arulicable to tom- rsolect inseartt 'N/A.' Attach additicral i-:Ir;es to ar,clete .rDur re_-rr� if r,�- --ssa^I , and indicate the it.Q;l cn Fom, 6 to 44iich t`,e a3diticnal rezz=..rp- refers. _ Dollar • * Inc; c_�.r�e e,fv( a. A Value of F rcoerty added to4talc rol is by lac msad � c� b. Less: Re-:u 'ticn in ar�-,--ssed Val lie fr= dancliticn and Other charres C . h'E•: I: r-Fr.!-Sc. CF V rL i% rC CED TIC TAX 'FLUB d Incr ETA--ntal Tax F2:"r e.^.ue (line a X Local T a% F.: `e ) e. Sales Tax -- State -- LC,Ct31 f' , f . -- Special f . IncC"P Tax -- Ferxral — Cc�rxrate 5. Per.c r:al Prmorty Tax h. Pa-1-7e.nt, in Lieu of Tares i. Increarr in Taxes (d + e + f +g+h) j . Less: ccl ll��ct_:crs in catecories e th--cLcv: h du-- to darr,llt.icrs, c1Csirp.s, etC. k. NET IN TAX CCULC:IC S (i-j) (Pi scal Povonuo j 1. NE: BCRF hSE/$CCo n, L Y-Z 1,1,,}.}a.,1CO -0- 11 ,488,400 L j7y 137,710 3.1 ,I?5 19,1 , 17R -0- tl 1.91,17� t� . o8 ! This fom.l ccrstitutes tM remnr_; to Part III.C.1. ** &3se info=.sticn on fixal on an estw:.3te of ci=jrstances In the first .year aftj Acticn Grant Froject cam-; leticn. Page 1 of 2 . Ile t,,--n to L- c l a• jr,: =a:a in a1rual tx: prr, fi tto local gare�•_nt� 22.401 ir7.-22 t-nt br lc -._al 0 C. al��:-:i cn Zr;r��t--cnt' to loc:d 22, 101 impact ) Lre--ki . t.•={ ,' tc -.ter ` �- �c .: e - r,h i ch r -^ ,e i� rm offered to b: � i:.� � � � and �y1t'-1� j� I_ n }� J /� L-. tv+�+ y. /J�, may-. A •I�/.•Y�NI•�...rJ L! �./+� ~`a�wi 1'L�1 t.? T�JJ�• �(v�1.1�1'. ./��J or WW.Jr4.es of �..��."�r^_�l:11.r1�C�� tc , Cf e,�Gi F�GG=:�_'� }"<:.J v.0 ri::ti r&1 ,---ticn is S`...�.:"'.......G'� t:l i.J th� t..�.. .:i , a�.-�r n G h:.� -Gnr G .. ►. " � F .•,r 0-r :. �+ u. :2 C. �•_ C:«.. Z. T,:,I r'.�. L. lief Of tz:,Z!. (PZ�i.1) t1LC L:rC� j� C: `r`��._' t� G:C w :'� t��' "S• M"TZInc:.:c1 Ed tJ N!A inht. .�i r-te' for.}.r ✓nl.`_'�J ii ir.�: i•L ^�. ,1: h.) 1:� il/��t�f_A 25 a Fu:�. of the (: z- _ 4 ✓. �� all �i�• .�".�1t:.Lr* 'Lh-2. 7:L�.�.��C�! oil U7�e PFrea t�� t it is ti!A Jf ;e Cr, a.n.�es4.;.�.st� of t,� Ica-sta.^'in the first }ems a to l,Ot�C.^. G.':.:t Y:C�t Cr C"'^� lCt1C�1• 1TGr,G FCI;Z-1 b Page 2 of 2 FACK:', i TOWI.It;; ;iI'It:;F.+�f A,,J) RE.II:1L'II,1TDTIO'+ CEM'ER D110-J"I' `;EII' TMP:1CT CrTY OI. �11:1'1I PE1nI)I:1'i1'S S14,360,500 I✓SI'I`.f:l'I'I:D [?F:�'i:'�I•I; ASSI.SSED VALT I; $11 , 448 , 400 REAL ESTATE' T:1r (11.. 9F37) 1317,710 OTHER REZ'F NNE - 1 Personal. Property 34 , 49-8 Per EmnloveP 2 Utilities Tax 22.48 3,485 State Reveniw Shar i n19.72 3,056 Pc,r Residont3 Federal Revonue Shard 30.61 5,509 State Roventw Share 19.72 3,550 S(- C'har",e 7.10 1,278 Utilities Tax 22,45 4,0-16 Court Filles 6,20 1,136 TOT:1I_ 194 ,178 ESTI11:1TED COSTS. 0 GE:,EP.IL GOCi:R.`;`•.1I-:� T } 25,186 E y FI I15 12,2712 S AN I T:1T I ON _ 13,411 POLICE AND LEC',AL 30,150 01'III1R8 90,758 - NET FISCAL PIP:1CT : POSITIVE 22 , •In1 171,777 i.• 2i':.. Lti.:'c� � i:i li'.{ � .-.... ���lJ-!.i,"�' i� ..�J t!%; .. .i !✓`1`i .�.. .-. _A� �I-J) tO P _� Ii.C.l. L^z- C :'.-iC Cn F�^ ;1 1:. . C: •�".Ci:t c:l an est:.^3 to cf C:�"C'.I,zt-inCL,-S in t.�� first �.:a� af'.j= cn Cra:It Koji �t : lctrcn. 1 - i 20'7r: of Real Estate Tat ,,, 155 ompl()yr,os (of 310) residin;; out5idQ City limits 7 3 cat 180 nursin- hotttc� residents (of 360) moving into City. 4 r,: , 0022/$1 assr'ssc'd value 5 61 $.06/S. F. 6 $73. 64 /unit ; $156,/ STOP �. 7 c1 $'15/employoe + resident 8 .0049/S1 assessed value. Includes service enterprise, 9 debt service, Pensions, mi -sc . Over estimated life of project accrues exclusively to City of Miami (not Dade Count.) source: City o .•17ami Planning Department, Direct Net Fiscal — Tmnact Model (1979) SECTION D IMPACT ON THE SPECIAL PROBLEMS OF LOW AND MODERATE INCOME PERSONS AND MINORITIES 1. DEMOGRAPHIC DA7A The applicant's jurisdictional area is in the Allapattah Strategy Target ARea, and adjacent to Culmer and Wynwood low income target areas. Our reference 18 target areas are racially and ethnically 48% Black, 34Z Hispanic and 16% non -Latin (white). Nine of the target areas form a continuous core area, occupying more than 25 square miles of the City of Miami, Hialeah and unin- corporated Dade County. Seventy -Six per cent of the 18 areas population of 371,200 residents live in the core area. This area will have access to Dade County's new Rapid Transit System, when completed, to avail themselves for employment at the applicant's health care facility which will be within three blocks of two transit stations. For profile of Social and Economic Conditions: SEE PROFILE, APPENDICES 2. PARTICIPATION OF MINORITIES Members of racial and ethnic minority groups may participate as subcontractors. - Developer, owners, employers are established as major equity investors. As such, I do give a commitment to become a CETA PARTNER and to hire low and moderate T income, as well as long-term unemployed for the target low income areas. 3. RESIDENTIAL NEIGHTBORHOOD IMPACT STATEMENT The impact of the proposed project on the neighborhood will be quite significant. The labor intensive facility will provide some 376 low and moderate income jobs. Of these, a minimum of 40% CETA Subsidized new jobs are pledged to be hired. The conservative estimate of payroll, without inflation factor, is $3,461,650 today, which should well impact the inner city with stabilized employment, not impacted by economic downturn such as tourist oriented services . SEE ECONOMIC DEVELOPMENT STRATEGY, APPENDICES 4. RELOCATION IMPACTS a) SEE UDAG FORM 7 ATTACHED b) Not Applicable 5. HOUSING IMPACTS a) SEE UDAG FORM 8 ATTACHED b) The 432 Long-term beds for the frail and infirm elderly will release scarce housing for others in the community whether in apartments, houses or low cost housing. MAG FORM 7* PJUZr- +TICK 7 PACTS Instructions: Canplete the table below With the nurbers of families, individuals, fauns, and b:sLnesses Qiich %.d11 be relocated as a result of the p<opcsed pro)ect. NOM: 7he following definitions apply to this table: (1) Low and Moderate Income: Persons Qhose income is less than 80% of the median iro=.-e for the S`'SA (or for the applicant's jurisdiction if the applicant is outside the SNSA). (2) Other Inoae Categories Persons .hose inca,►e is over 808 of the median inaane for t'-e EMA (or for the applicant's jurisdiction if the applicant is outside the SMSA). if more apprcpriate, use the irxarve IL-ats for the KI) Sec ion 8 housing program to define lcca- and mdez-ate-imcm. families. Where size of fxily is not k-Jawn, use Section 8 limit for a fairly of four persons. Low a d ttdesate Cther Incase dotal _ Incc-e Categories Minority :ter.-'L'- rrrity I+c:.-�Z ncrity Mimr=tv t:.n-F':.-�c: it 1. Farilies Displaced 14 O N A 11 P L I C A B L E 2. Unrelated Lndividuals Di--7,laced 3. Fans Lost Displaced; ....:' ".:... 5. Jobs Lost Fran Ets i nesses in Line 4 Above * This four constitutes the remorse to Part III.DA.a. Page 1 of 1 Urt w FOF;', 8 * PROVISICN CF iiC7M:2C Ins tructicrz : Ca- ,'L e t.e tYj- table tx-lcw with t!-.n_ r rLi—, of hc�:s ix-G = i s,, to bn l:on tti"-- Frc-lc ` for UCL�..:�: ;:-i Of valic'.S ir- Y ,e luve—'s. isT`..F...P'r t2e c sties Qll h fcl:aw t1 e tatle. Note: ,^hc follaNu,g emply to this table: (1) La4 ana '7oceratr_ Inge: Units to b2 �hosc ir;:-�e is loss t: an 80% of the (or fcr t.Ff_' c �1Cw�t�5 �uriz6*;.cticn if t-1-a ap�lica.;t is cutsiee (2) Mi.�?,le Zn--,7n: t:v.ts to b; available fcr occ=ants �?zo: ir/-Yx.v- is ba-t..r-•tn 80% ari 120% of t. r��ia.n i1 :,,e for t-L'.0 (cr if the a;;Plicant is Cutside t:�:e 'EAZLEA) . (3) DP r Inca-,) : Units tD b: a ailahle Lor cc=ants ��,cse inarr_ is 120% or yore cf the tr�3ian ir�-�� for the :"SA (or :cr the arrlic°-W s �uzi�:'_cticr, if t;.-e a .rplicant is cu,siee t: -�SA) . .� _"� �,i ci�l� fiJ�r�� t...'� �.'_„� 1•.'�'::�`� � L���r :..__L �'r.�..i� sir i�-rcznt "rimf kz-D_r :tt.. iof Ctal 1 lof Total tf) b. flr�lx:r Unity to be N p T A P P L I C A B L E il itacd C. 70 T. Units (SLlIn :w of a a.-d b abe) 100 1. Tx=* catty t� }xsis for the abcva calculations. L)d4icate the annual rental prices arri sales prices for units in each i.�= c:,tc,go.y. 2. If units are to be rehabilitated, L-dica to t::e inane catc-�o y of residents prior to rehal:ilita t.icn and t'',e rur2ber of vacant or a---4cred units. Indicate the e:p cted i-r=r-al- level of ocxLvan*.s of t!:e rc-habilitated units. NOT A P P L I CA:B'LE * Zhis fD= carstits:t:es tl-e re—s.-ponse to Part III.D.S.a. Page I of 1 STF.ATEGY Mia-ni's most serious economic problems, a declining economic base and high levels of unemplofinent, are particularly troublesome for its low-inccmne minority population, which is unusually large, even for a r.ajor metropolitan area. Four mea,ures of fiscal wolf-Lein:--re3ian fa^,ily in=—,,e, Property tax base, unem,l,loj-,ent, and e-plo,-..;,t by sector --all in:ica`_e a worsening fiscal sit.:ation in the City. decline:, over the past twentyyears, az a t,:.� _F'._�"r' G� �.9]P "i���.ty fa7-iiy inco-me. -ily Inc, -,me as a ? Year r-_ 1�50 83 (92) 1970 79 (80) * From 197�. cens::S of -"C.= i.i`_:.-.. and Housinq, Tracts. _� ** 1950 fiqures cGmbir.e ^ic.r_iar, family income for farilies and ir.di- vid•,:als. Fiq-..res in z3rE...nesis for 1960 and 1970 show median �. income for families and individ•.:als cc-nrined. J AnctI.Lr sic:nif1Cant .?^O'.G^liC ln,:lcator for cities is the property tax base. In it has continued to grow, though at a much slower rate, during r the past five or six years. This slower growth has occurred at a time when the cost of providing city ser-.ices has rai-idly increased. At the same time, Lproperty tax growth in Dade County is consistently higher than in the City. T For the time period from 19'75 to 1976, the City's property tax base grew _J 5.5% (County 7%), while inflation during this period ran 5.9%. City property tax growth slowed even more during the 1976 to 1977 period; property tax increases during this time a.,nounted to only 3.8%. (The bounty's growth rate during this same period will probably be in the 5% range.) TABLE II City of Xiami $ Increase Over Year Previous Year Dade County Increase Over Previous Year 1971 10.0% 1972 7.0% 1973 13.0% 1974 29.5% 1975 9.09 1976 5.5% 7.0% 1977 3.6% 5.0% * F.eassessed Lr:,ard in 174-not a relevant figure. Hence, the City of .:ia^.,i finds itself in the difficult position of Frc•: iding increasingly mere expensive services at a time when the revenues from the pro- perty tax are growing at an increasingly slower pace (13%, 9%, 5.5%, 3.6% ccnsecu- tivelv). The City recently increased its tax rate to 10 mills, which is the State in: Dosed limit for municinal government. The unique nature of Viami's economic base has created some serious problems for the City's economic health. The heavy dependence on tourism, construction, and the ga=,ent industry in Miami led to the very high unemployment rates of 12 to 13 percent during the recent recession, as tourism and construction are generally among the first sectors to suffer during a national economic downturn. Industry emFloyment figures for Dade County, shown below, reflect both the impact of the economic recession and some local softness in the industries them- selves. TABLE III Emrlo•.�-,ent Ev Industr•✓ Cade Ccunty 1973 1977 Construction 44,700 23,900 Garment 22,600 19,400 Hotel 24,800 16,800 Total 92,100 60,100 a t.. it: '-.as dr _ ped ccnz _derahly since its 1973 peak for a num—er :,f reazons. These include the national recession, the local decrease in dc-mand for ..cus,. ca•.:sed b;: the cessation of Cuban in -migration, and ra---ant in:reases in , cyst_ un--atc:.ed ty inccme ex. ansicn. The 7a_7nent has stead-ly suffered as a result of cem_etiticn frc.n c:.ea--_.car cc,;..tries. Col=bia - C8:/hr ; Haiti - 27C/hr ; Dominican - 36;/hr.; Ccst- pica - 30C/hr. Firms continue to migrate to take ad•.---nt ce cf labor sav_. cs in this labor-_ntenaive industry. The tc..__st _nd•.:stry met with crippling ccmzetition in the 70's fro-; Disney t•:orld, the Caribbean and other resorts. Cccupancy levels dro:ped dras- tically and lance hotels lire the Fo.:ntairhleu and the Eden Rock have acne into receivership. Even though :riami has few hotels in comparison to Miami Beach, most of the work force ser•✓icing the tourist industry cores from the Latin Cc:%munity residing in the City of Miami. Although unemployment rates in Dade County are now slowly improving, un- employment among minorities remains alarmingly high. A survey conducted for the City of :'iami by the Miami Opinion Center during the Spring -Summer 1977, found the following uncz.ployment situation in the City. This compares with a national unemployment rate of approximately 7 percent for the same time period. TABLE IV BASIC PROFILE OF THE CITY OF XIIA.ti1I, SPRING-SU:-'_''.EP. 1977 % Employed % Employed % Active Discouraced Pull -time Part-tLme Unemnloved Unemnloved (N) of .'iami 75.1% 11.9% 9.4% 3.6% (951) Racial/Ethnic Grouns los 77.2 14.5 4.6 3.8 (141) atins 76.3 8.6 9.2 3.8 (544) -ck 67.2 17.3 12.5 3.0 (263) �?-crhood s - �el City 6f.5 18.2 14.3 1.0 (106) =iscn/Little Fiver 67.4 24.1 6.1 2.5 (98) Alla:attar 6C.5 7.0 12.5 0.0 (91) --mood 82.2 5.7 12.1 0.0 (37) Imer 61.3 12.9 22.6 3.2 (31) Little Favana 75.1 9.1 9.5 6.3 (191) Grove 64.5 13.2 11.2 11.2 (31) _�conut :per "iani 60.5 9.9 5.7 3.9 (359) The f in3inas indicate that the u.n.E-.alo.nent rate for Blacks (12.5%) and T,atins (9.2%) is c)nsicerably worse than that for all other City residents (4.6%). It appears that a hick proportion of these unemployed live in the City's seven CD target areas. Given t e serious emYlc; .ent situation in Miami's target areas, a policy of uperading and expanding neighborhood employment opportunities seems to hold pro- i mise. The City of Miwni is therefore initiating economic development activities in several specialized activity centers including the Garment Center and the Civic Center. The underlying principle of the specialized activity center is that certain activities operate more efficiently and are more successful if grouped together. In addition, specialized uses often attract each other creating a larger activity center as time goes by. THE CI':1C CE'::TER area is the subject of a market study to exa.-nine the potential of undertaking a number of joint public -private developments adjacent to the Medical Center complex. The Consultant work is being financed with funds from the City of Miami and Dade County Offices of Community Develoi;ment, Jackson Memorial Hospital, and the University of ::iami School of Xedicine. The study has involved the major employers (Jackson ti'emorial, Cedars of Lebanon, and Veteran's n -.:.:.-_ '.ion Hosritals, State of Florida, Dade County, and City of am i) as well as the _private proixrty owners in the area. The study participants believe that the Civic Center area, which employs approximately 25,000 t:eople at the medical institutions and in government, has not experi :c-d thE: vol-ame of dl': ersified private development (retail, resi6en- tial, hotel, cri•:ate office) that the area is capable of supporting. The type of emplc_ment that would be created by such development, though largely service - related, :.•oulc n_t heavily impacted by an economic downturn in the same manner as tourist o.icnted services are. bather the hotel, residential and retail develop- ment proposed for the Civic Center would be closely tied to the Medical Complex. The proposed exFar.sicn of private medical -related facilities would also add stabi- lity to Vda_mi's heavily service -oriented economy. Consultants are working on a redevelopment plan, which will include zoning changes to encourage desirable new private development. In addition, the Consultants will put together detailed development packages for four specific sites, which *1-y arm also selecting. Since the emphasis for the study is clearly on getting diversified development in the Civic Center area, the Consultants will be meeting with landowners and potential developers with the intent to involve them in actual projects. The required work products from the study will also include a list of developers who are seriously interested in participating. 4 SECTION E EMPLOYMENT PLAN TO ASSURE THAT THE PRIVATE SECTOR JOBS ARE AVAILABLE TO THE UNEMPLOYED 1. ANTICIPATED EHr'_C`11-;ENT IMPACTS There are twenty --,ix categories of permanent jobs and eight categories of part-time jobs. They range from the Director and certain Department Heads �•:ith Masters Degrees to unskilled housekeepers, and janitors. The majority of several hundred will be semi -skilled aides and orderlies, under our forty per cult CETA pledge. LOCAL TRAINING AND EMPLOYMENT PROGRAMS 1 There is a "New Careers Training Program" under CETA; there are also medical technician and food service courses, etc., at Dade Junior College, several vocational schools, and Dade Community Medical College located several blocks ' ay.ay. ',lso the Specialized Training Programs sponsored by the Private Industry Council through the South Florida Employment and Training Consortium. t ' j. EXTENT OF LINKAGE T,-.ent;r per cent of jobs to be created will be made available to the long term unemployed referred from available training programs. These jobs are for dietary aides, physioand occupational aides, secretaries, personal care aides and orderlies. iTen per cent of the jobs for long-term unemployed may be filled directly without federally funded training assistance. M4. LINKAGE PROGRAMS This will be implemented through the CETA PARTNERS Program - We will join as well a` the Private Industry Council, where we will sponsor a Specialized Training Program. SEE FYI OUTLOOK END SECTION IIIE ' 5. RESOURCES These funds are located in the initial operating deficit funds. Staff will be ' phased in to accomplish the facilities personnel plan in cooperation with CETA and SFETC. 6. CONCURRENCE OF TRAINING PROVIDER AND PRIVATE EMPLOYERS Miami Lakes Tech, Robert Morgan Vocational, Dade Junior College and Dade Medical are some of the facilities involved in training programs. 7. TIMETABLE FOR IMPLEMENTATION Eight months prior to opening, planning and recruitment of training providers will be initiated by professional staff in cooperation with CETA and South Florida Employment and Training Consortium. FY'81 OUTLOOK iThe true answer to the nation's unemploy- ment problem does not lie in government. Look instead to the private sector for a Solu-tion. This firm belief is why one of the major goals of the SFETC in FY'81 will be to ex- pand its linkage with the private sector. The vehicle used will be the CETA PARTNERS Program which could dramatically trans- form CETA programming. In the coming year, the SFETC will continue to actively solicit the cooperation and commitment of private industry so that CETA can continue to be responsive to the employment and training needs of our community, while also meeting the needs and requirements of b isiness. Perhaps the greatest challenge facing the SFETC and this community is the economic n vitalization of Miami's Liberty City, devas- 1,.,ed by the civil disturbances The SFETC is committed to working closely with the pr:vate sector, government and Black c -nmunity leaders and organizations to ex,nand the capacity of existing minority businesses and to attract new ones into the area by providing economic incentives. D;;ring FY'81, the SFETC will utilize 4.3 mil- lion dollars allocated by the Department of CLabor to establish a Job Corps -like Skills Training Center in northwest Miami, a spe- cial program targeted to out -of -school Black youth and an entrepreneurial training ♦program. Approximately 1,000 Black eco- lnomically disadvantaged individuals, age 117 and older, will be offered a wide range of !training services designed to tear down the (barriers that have, thus far, prevented them Ifrom realizing their employment potential. +As the only urban prime sponsor in the (country selected to participate in the Con- isohdated Youth Employment Program, an - ether major goal of the SFETC in the year (ahead will be to ensure that South Florida's �CYEP becomes a model for all CETA pro - prams to emulate. The SFETC will be de- signing the systems and procedures which, 1 when implemented on a nation-wide scale in FY'82, will revolutionize CETA youth pro- gramming. Another top priority for the coming year will be to seek special or discretionary funding to serve the Cuban -Haitian refugee popula- tions of Dade and Monroe Counties. Last May, South Florida became the focal point of arrival for tens of thousands of Cuban refugees when the Mariel boaWft began. Since then, 125,000 Cubans have arrived on our shores. The refugee problem has been compounded by the influx of more than 30,000 Haitians who have been arriv- ing at a rate of 1,500 a month. Shortly after the Mariel boatlift began, the SFETC re- quested $25,000,000 in emergency ESOL funds to provide English for Speakers of Other Languages (ESOL) training for the refugees. So far, special funds have not been allocated. The refugees are not even counted in the Federal government's official unemployment statistics since they have had no prior work history in the country. During FY'81, the SFETC hopes to per- suade the Department of Labor to recog- nize the need to count the refugees in its unemployment figures so that special funds can be allocated to provide the employment and training services which are so vital to the economic well-being and dignity of this population. The tasks confronting the SFETC in the coming year are monumental. However, we believe that they can be accomplished with the cooperation, commitment, and partici- pation of the private sector, government and the community. The SFETC pledges to do its part to improve and enhance the qual- ity of life for all South Floridians. Pubkshed By., South Florida Employment and Training Consortium 7880 Biscayne Blvd. Miami, Fla. 33138 F Y 0 0 U T L 0 0 K Am SECTION F RECORD OF APPLICANT a) The applicant's equity partner, Security Pruperties '30, and as its sole stockholder in Security Pacific, Inc., have participated in over 230 partnerships formed since 1971 for the purpose of owning and operating government assisted developments. The information: Federal Housing Administration and/or Section Eight funding sources, FHA program titles, contract numbers, and dates of purchase for a total equity of $124,551,0.4 through 1979, is in brochure form. SEE BROCHURE, `PA09 ' Z- 13 EX= N b) The applicant, Donald A. Mitchell, has been involved with income property since 1958, as a developer; he is also a Real Estate Broker and State General Contractor. His key personnel contract relationships are experienced top legal and finance specialists. The Cit•,, of Miami's Planning Department is assisting him in this UDAG application. Dade County's Industrial Development Authority are processing a S10,000.000 application for issuance of tax exempt bonds, if a UDAG is a�rarded to the project. Quclifications of other professionals: The Investment Bankers, Bond Counsel, and Feasibility Consultants are among the financial �:orld's top ten in the United States. SEE RESU11E, p,4*T g 6 07X% Gr c) Professional Medical Management will be supplied by one of the ten top rated nationwide companies through a twenty-year operating lease. Their expertise, organization, annual report, and management lease outline will be supplied when the selection is made. SEE SAMPLE,APPENDICES d) Investment Banker and Architectural Firms: Selction of the former is pending among four being considered, and the latter will either- be Wilmot, Bower and Quinlan, Silver Springs, Maryland, or Robert Gee Associates of Miami Springs, Florida. SEE BROCHURE,APPENDICES PART IV PROJECT APPROVAL INFOP111ATION Section A -- Technical P.equir cments t�ibit 20 PART IV PP.OJEC^. APPP OVAL. INFOMA—A IC:I Section A -- Technical Requircments This secticn £1 ;,;cdificution of a re..uire-nent olf CMB Circular A-102. The check.lilt :�a1ow asaures a fc eral g ene: t:,at key issues have been covered in a pru--r 2-m a, plication. an exhibit i.s re?uired, insert it at the end of this Sect --on an'd nu--'er it according to the it it addresses. Dc;es this wssizt3ijr-e r=- .:est state, lc:_al, Nalco Of Guwe ur.'- ho:�y rc3ioia;, or ct.`.er Fr iority rat.- r? ieS x NO Pr iori'ry Fat..i:-xg 2. Dies t:.h_..3 State, r 1 v.,zyl � -...ru y� ��...�V. caw ♦: � -L•�..vi �• .��lo ink.-�.....�) 3. D:C5 this 1 r s'.5 t.S.'r? rcr--cst rc -u,.-ze ci ear :. -- hcc.,-,e rc: is in C==-alax A-45 X Yes lb 4. Does tas as._,ista.-4--- rcquest rt--sire state, lerzl, regicn-a or othor plarni.� crcti-al? X Yes NO !a. Is the F` cpe r�i Froj e - t ccwercd Ly an ap=oved c=preherzive plan? X Yes No b. Does the a;olic.snt hwe a locally amTcvefd Carraurd 1, G_ : cl c:�'nt (CO) p 1: n and F -us in3 Assista na: Plan (N ,P)? (Eu h alct:t_^r' plans anst F--c,'_ate a;hrtissic n of t!.c acrlicaticn. ) X , Yes to 20 or llcalth Systems A;encv Pont. 110:11th F, Rchal)- Services Uocz-f--ntAticn at`.--c:',cd as E•jlirit 2K: of Clea-i ?.er�cy SFR11C Dade 111 min . Dent. jure.ni of Intorgox*77-miental Relations _ Stato Plann. F, Do\'o1.Clearin C ,tents att<<c,,-�a as If `n2o,y e.�:,la... �.ny Your Lr1 ihi t Name cf A;prcving Acenei Cite of ?Miami -sate: Check one: State Trx31 Regional Reference shsuld be rpde to this plan in Part II.B.1 AcFxcval Cate(s) : CD Plan 1981 HAP 1981 If relevant t.o t.-e rso�e'=, --- cite atr_rocriate tables and 5,2!:t.ierz of tl.e CD -_ plan and HAP in Paz t IZ. B.1. • If "no,' attach a smll .City single Fut-:?cse ham' foam (i.= NO) to this application as ya= 71h,ibit i I i 6. 'Wi11 t'-.e as.-dst once rer;,:^_sted tier.e a Federal t1Cn Y^a 7. will th`2 G�: :.: t �`• :11��'��t�,: rr.` 21. L. c _- to it :' _ . _ral 1T-►, -17,1 la t1 c:.: Yc: A Z:--) 8a. arz_,:41 .:a Ye ` NO b. C`.Z �t C to '.3: t:_' 1�':el Of C; lJ::ctia� G�tc: N/A J Will !w. dl� Cr .. C�...�:.:... Yes \ t o 10. Iia c� er rclatc� --. =,:,t�1 st_r.ce c:. Will ar-; Ye, 2vo 11. Is the Froject :Ln a designates floc: area? Yes X NO 12. Will t: e crc -ro=Ic-ct result in the relocaticn cf cr C= -I--rcial facilities Iran, cry ram: slit :n cr r=- m, trcpolitan area to anct`:e:? Yes '. 13. Does the p:cccscd r-c'ect :rvcl:•e thejuri--dicticn cf r.,rc t.a:. crx-- r =cipality? Yes 1 NO 21 if pop i i.a t -,.— n to 1-7; scrr-Od , lnf oM-,' -a t1C:,If that . 1 Forth L. Far-t II.B.i. tm_ntal ...„' . If ad. —a ✓? 1.7 antici EIS. oa:rta.L1 that is II.B.8.b. If % O J " !:C C^. tcnic 1r c-:: ercL' res et to ij ,ems •; is � -is and fanilies in F 7II.D..b. De c ez'', ai.z t::is tcc is is ccvercd, �-.he=e a�rxa: iat�, in Part 1I.B.7.e. If "}es," be this topic is o✓.erer in Parts II.B.3 and II. B.8. If "yes, " be certain this is desrited in III.B.3. If "}es," be certain the topic has been c ve_-ed in Part II.B.6.d. SEC:IG`. E -- Citizen Par'.-ici.r.iticn, Civil Rights, Equal F.,,ployr,,?nt and Housing Opportunity In this section, the acalic..nt must demonstrate its positive record of (i) involvin ^ c:tiz,:!ns in the ar_.-.Iication and ; rc3cct deve1c r,7ent :rocez , (ii) dealing succe-In_ully w:,t}i issues such as c u-nl off_ 0rtun:t; in _ --er •_ do on:.,.._ e' er�lc. t tc minor:t: s (as r. -`~at '? by its c--�lcy, nt �e records) , and (:'J) prvmot:ng equal hcus:na CC_ Crtun:t'J within 1IS jL'�:��:c=:cn. Answer the CLesticns and .:gar:�' certain thzit the tc::.cs ::ave u^en full y covered in the referenced •_ sec_en, where al; r c- riate. Identify any exhibi c inserted at the end Of: the section. Ia. Is t e-re a M:14 _cn C_ _� . r� . ...ice �i .Pan Z. ..e, �.., a:.n in fz` �.: :..� w i,��..'.'-; �-.1."�.. yr- ..:ter Exh i.. i t L7L` cis:cicn_ cf t.e in 24 r,. ,� 5 �Q. ti� (c) (i) (A) of t: e F�•,u:aticrs? Yes NO b. �:: �� .': C._�'.r..^, :: ,` C':•3�".�1 L1 GAP_ C.�':���_ "�3.^.t i� "7'•'_Sr n t v E ^ ' Cr C:.cr.--� t.'-:at C - 3=':_ cr`:.:.'-rc-: in in r,--.nt"' roc ] . CI'P Gti i del i ne Y Yes t:-0 is Cr =LG"lie, c•�3r!— c�e~ in Par~ I2.3.6.d. c_:t.:e azli: �cn�cr az: I: I.0.2. in rut a ci the r c:ec? CF: :te. Yes t M 3 CcCS t�� arch^ n 1. .:� ��' irc� . ._ ...�.� . �..; ur=e:�..�... .�_ti� _ If "}��,' decor• the _^�..>> arisire -� civil r:-h`.s ,:ii.., r�::cas, ism es, to Citi-:.en rartrc:zz3tic : t.i.;2tab1e, arj the ailc-_:aticrs zn,3irs: the rxc �r,_s er a^_j �si�le cyat.�.,�s iz E:':..i..�,. ot..-r f�.:c:.r.....y ��s.�._-._. i.�..,�_..,. (c _��n,) yc•t,� ad7d-lister� ty t.� 4Tlic".r.? Make refers:-nc-- to =--a Yes '( tl;, :wits, actic.rs, etc. as axrc-M:ate in Part II.B.8. ' 4. Is t.1-4 a.-plicant ir;7-%1Sticaticn b:.r ar_: If "dyes," to feller I office e:=orcLxa ez:,d cc=.r:;..-4 y a;c: cy, t-.e en:-crc-- lads an✓ re7ulatic:s? tn--nt office a:-kd officers imclved; e~ --.3irn t.:e 1 Yes NO alleged-cblc-�s; arxa dic,cuss the resolLticn 1 timetable, in yct Exhibit with reference to Part II.B.8. as accror-ri.ate. ' S F;as t'•.e a;•plic ,t s.:t�.itta;. EE-C-4 or If "yes," cite to ca-..F r bic, d,-Ita to the F'LD ;trc-, GAS 10E' as rc Cr t; if ww, ■ of t.tk' prccctiing July 31 as *a ce--t.ificaticn EvplaLn Eby in }cur of ccntinui.-i; cli,ibilit:y? Ddhi.bit �. Yes NOSEE CITY I'nR%1 FTI FT) 22 PART V ASSUF2tNCES The Applicant hereby assures and certifies that: 1. It possesses lec:al aut:;ority to apply for the grant and to execute thQ prcL;csed Fr-,Yram. 2. Its governing body has duly adcctca or passed as an official act a rusclution, mot).cn cr s;_r,'i: ar action authcri :inn the filing of the apsllcat=on, i clud..: ,:: all uncewstan,"ncs an d assurances ccntaIncd therein, and directin, and authorizing the person identified as the cf:ic_al re;�esentative of the ap._ licant to act in connection with the as�,lication and to provide such additional infor:�atien as may be recuired. 3. It. has cc:,:l-_ed :pith all t,",e rccuire:�ents of C'XB Circular A-95 as mcr.ified by 24 CFF. Part•57G.31G and that either: a. Any cc .;gents and rccc-_7nendatm iens ade by or through c J.earLnc: cuaQs are rn ee C atV:iC l_ ar:v .:1.• ,.• n C�I,J1Crede. prior to su..-nissicn of the applic_at:_cn; or, b. The recazr.ed prccce.ures hai e Leon fcllowed and no,�, ccm,ments or hav Loen receive-'. 4. Prior to submission of its application, the applicant has: a. Prerared a written citizen, participation plan, which: (1) Provides ar. c;_ccr unit•• for ci.tizer.s to participate in the de•:eiotmer.t of the application, enccuraces (` Lld-,mission cf icws and : � J` ;sals, particularly the J,, by residents of bl is heed neic;.:;or heocs and citizens of lew-• and r�cdcra.t _-incc-e, rprovides fc: timely res cases to the croc•:,sals suhnitted, and schedules hearings at tines and locations which Formit broad participation.; (2) Provides citizens wit*; adequate information concerning the amount of funds available for proresed ccmmunity development and housing activities, the ranee of activities that may be undertaken, and other important program recuircments; _- (3) Provides for public hearings to obtain the views of citizens on community development ane, housing needs; and (4) Providdys citizens •with an opportunity to submit comments concerning the community development performance of the applicant. b. Followed this plan in a manner to achieve full participa- tion of citizens in development of the application. The applicant shall also follow this plan to achieve full citizen participation in all other stages of the pregra.r~. 5. Its chief executive officer or other officer of the applicant acprcved by HUD: a. Consents to assume the status of a resconsible Federal official under the Rational Environmental Policy Act of'1969 insofar as the provisions of such Act apply to 24 CFR 570; 27 b. Is authcrizvd and himself to accept for the Pa: r0of such an 0f111cisl. ccn.:;r_nts on hrhal f of the applicant And tht' -iuz;.scict:.en of the fetleral courts cnfcrcE,ment of his reLp onsibilities as 6. The C;,mmunit•; I)�-_v(21cr^:ent Prc-Qron. has L._,en develcr.nd so as to give - ,� , /�rl L L `G uC�'i'✓1tiC w~:'lch will �t .'nofiU %. L. L 1 J 4.r t L low- ar._' rcer�.tr.-..ncc^e f -•::1--s or a-d in t,`,c Frevent�.cn or elininaticn of slcr; s or bli fcr this ccrtifica is : Will not precluc:c t!'e Secretar✓ frc,,, a _ rcv_n. an ac�licat_cn where c ,z iic.. t tort_:.c:,, an,. t : Secretary deter;, t-at or ; ��`. o: t e er, C.-rc�..'c1 ati L ie5 aro CLSi.C•``a. tC TCet ct.!.er U C_CnCV 2S s-.rcii:.ca— lii r'' =1.C^. in t:.e ap iicdlien in acccrGa-, -_c '24 CFr. 570.2%CZ(f-) . 7. It will c:.'. ,:i; withreQ"1c1t;.Cn, ,;, C,;idelines, No. and Fc'drr�.i`l: naeer.;^_r.t Ci�cu:ar 7:-4 as ti:c' re?::te to the azclic�t�c: ,raccc;t::nce, and use e-1 under E. It will -aiminister ....7 nt ,rckr! 1 he lu'-: stdn :a'':::; reC•,1ire"-_n s set .c:t:: J.n 24 C FF 570.G05 ::. HUL r''_L'_atic::5 _issu d to implcme n.. SUch rc::uircncntz. 9. it will. cc:^: 1;r ��ith all :cr;'.;..-=cnts if'.cscd byH1: concern 4n c_ Zzeclal �CC'._�C.^. �= cf law, - rccra:' ri:�clircnents, c! r= r-_VCd In accordanceWith C!'.0 Ciro.»ur :.V. rA-10 , yF'.:.'ti _JEd. 10. It t•1il l tidith t!:C pro•.•..:�icn s of <ecut_ve Ci'GCr 11296, relatinc to~Cvall;dticn o: tl'c : haiz :.cs are. EmeC::tive Order 1120.3 relating to the prCvQ:.ticn, co:.L:rcl, and ateltcMcnt Of water pol l uticn . 11. It will re=uirc ever;: tuil .ir. r f c l i'-x ( ~ r �`^' c' • g c a i ,. ot..e_ �..�r. a privately cwnod res:CG.n,tial str'.1Cture) designed, constructed, or altered with funds provided under 24 CFR 570 to ccmr.ly with the "A7,erican Sta.^.yard S.ecificatiens for making Buildincs and rFacilities Accessible to, and Usable by, the Fhysically handi- capped," Nu^'er A-117.1-R 197/1, subject to the exce: ticns container in 41 CFR 101-19.604. The applicant willbe responsible for conducting ins=ectic.ns to insure ccmpliance with these srecificatiens by the contractor. 12. It will ccmply with a. Title VI of the Civil Riar.ts Act of 1964 (Pub. L. 88-352), and the regulations issued pursuant thereto (24 CFR Part 1), which provices that no person in t::e United States shall on the grounds of race, color, or natier.al origin, to excluded fora participaticn in, be denied the Eer.efits of, ' or be other -wise subjected to discrimination under anv program or activity for which the applicant receives Federal financial assistance and will immediately take any I measures necessary to effectuate this assurance. If any real property or structure thereon is provided or imcroved with the aid of Federal financial assistance extended to the applicant, this assur.�nce shall obligate the applicant, or in the case of any transfer of such property, any transferee, for the period during which the real property or structure is used for a purpose for which the Federal financial assistance is extended, or for another purpose involving the provision of similar services or benefits. 28 b. Title VIII of the Civi 1 ric_,hts Act of 1958 (Pub. L. 90-28 4) , a_ amenrdl!tl all prcCrBmn and activitics rcicltin^ t0 �',rilslr.'1 CC:•1?^1:^ ~:''G�r`•!r'1C -.ent in a manner to fair t,curJ-j,-,q; an-d will taYc action to iurth(.r fair in the sale Cr rental GL t:GL'.;1.^.C, •�...e l.i:ia.r.Ci n'3 OL h l_ i..�, and the j..G:'i..�lOi.a pi ):rCi:CrjC'C services. C. Section 105 c nc ti .i'Ir- Section {:. t . yTz.r.d Cc�::,u::i.t;r Dev oc,�er;t Act oil l 1, l Y , an-_'t L ` - 1C11 .] � .J :)u e, f u i .. .: •it t re' t:, , ,, . 501) ► ,relic crc:i. � � :.o.. ...the _ Z.iiitc-,: State`i steal l r G:, the IlrCun'ds Of � r Color , Rational Or: g i n GC SG: , .-C C.::c1Ur ... rar:_ C I3t1G . i:. n dem;.cd c..c, or r ::C :L;' _'r CtC'C to Ci .., _. _...: :tic. UE' �r , an j p-c:.,r l cr zct..•.1t zu....f_.-I" in whole or in pares 1. '-h d. r cutive Crcier 11CO3 c.. ecL:a1. e �, ort,:n:.t•. in hc�,si:,a an d nu,.:::.-cri�i in tha sale or rental of housin --ui1t /].ti: 1-CC!e l c�.s313 tanCC. r; , - .r7 ..b,, �nr -+ ;SSucd L1irSua:,t _c,:...vc Cade_ 112�.�, �:.. �.., _ula._.cr� .. pr the Grant i. rC _... <<r,t, 4:.iiC: t- it nG Leracn C:: the ua v O� �rZC=, C•1C C L r �.. 5_ , or all.c:c•- r,e:it dur... t.. 1]-7 Ccf . �.Lr l V r ra;♦ i� Cz .S-. zte- C G..J �•. . L.ti �. CC1. .. rC1 �. .. �J• Co trac`cr.J On Federal i_.... assistC:^. c--nStr•.:C:.. " CCn -a'_ets � of �i.�-�tiv� ctn cr- tC JU::e "'ice cr terrain aticn; rates j- . F i nd selectr 01 aV Or O'er �..�.: r.:::.' C 1 CC,.:.�'.^.SaL' a. ..ion fC trc_n:.ng ard aL---r-'nt'-.CCs,11p. �- 13. It w'.'11 cc'n-11y with Scct'.C:: of the i7cusinq any Ur!;a:, I.e�G1Cp- Mer,t !'.C.«. Cf. i:`^ a5 that to the Crea',:.cst ..Cr e�cicy�,��n' be t..a.�.. .:i5 dim:: .. A gi.vcn tc of the- crcject area and ccntracta for �:cr:: in ccl;::ectien Hit:: the rre��,ct� be a`wa:rcec to eli, ble Pbusiress cC^.Ct?rrS w .iCh are lccat`ad in, or cwned in suh.stantial part by, pa--scr.s residing in the area of the pro; eet. 14. It will: a. To the greatest extent Practicable under State law, c-Imply with Sections 301 and 302 of Title IIi (L'r.iforr. =eat Pro-,erty Acquisition Policy) of the Uniform Relocation - Assistance and Real Procerty „ccuisition Policies hc- of 1970 anwill comply with Sections 303 and 304 of Title III, and HUD i,mplementir.g instructions at 24 CFR Part 42; and b. Inform. affec�ed cersons of their rights and of the racquisition Folicies and procedures set forth in the regulations at 24 UR Part 42 and Part 570.602(b). r15. It will: a. Comply with Title II (Uniform Relocation Assistance) of the ' Uniform Relocation Assistance and Real Procerty Accuis:ticn Policies Act of 1970 and HUD implementing regulations at • 24 CFR Part 42 and Part 570.602(a); Provide relocation pay-cnts and offer relocation assistance as described in Section 205 of the Uniforri Relocation Assistance Act to all persons displaced as a result of acquisition of real precorty for an activity assisted under the Ccmmunity Develorme"t Bl"K Grant Program. Such pay- ments and assistance shall be provided -in a fair and I 29 consistent and ecuitable manner that inures that the relocation rroces:� dC2s not result in different or cecarr.te tr�atnen4-. of such persons on account of race, colcr., re?iicn, nWtional origin, sex, or source cf ir•cc--:c; C. Assuro t`'lat, within a rea_- cn, a b 1 c rJcric,r3 o,, time prier 1GQ Q::' 1c:CC:-,►_'rltt C' 1r:1::C d!'C�''i�, iafi? and san, t'-I L rn _ !_. _: G'r:f.11:.. :... •c:i-i .�'_ .1•.�:'' :: ' all Gia- placer: .).-_.s a,.c ir: i•.:.c...,ls a,:. t::r;t the mar cf chci-�_'s to _-Uc:! ^.mot Var-1 on. aCCount ` Of t!:,uir race, cGlcr, scurc_ c: incc„e; i-. d. Ir.f0Z.:, affc-ctclf per_ -- s c_` tl'.c reiocaticr: asJ..stz�nce, polici-_s, and .o-'-h in the reaulat:.cns at 24 CFR Fart 412 znd 2f' C F R Part- 570.60 s- 1 G. 7t I i estab? _ nh sat. _^u1:r&G to r.:•ehibit `rcm using pesiticns fc: r. is or - gives t .c a..;ca.nCC., rc'° heinc r-.ol i,)ae _c �a d__._' e ::cr fc_ t:��:: s��tivc_s o: ot11__�/ �C+r 1. .. .. ..l ii .. J• t•jG `.)�„C -tii .'i: �••1 .~. l�L- h:'✓� t4i.1:.1 �•, huJ-.toss, or ot.:2_ ties. 17. It will cci"•1' ?:th tit^. !:i :7i.^J4 c:: o`. the ♦' tcI ' t which L ^ the c.;litica1��t .civity o: c-d.leyrccs. 1 � . It will c;_; n and t^r C. %r trcller- ail rc_er:s, 4:,c;:c, , apers, er to t1:0 y_ant. 19• It `til. i..c•_re thy_ the f-.tell _t_cs unC-2r it-s ri,i � rr lease, , or :t:re-..sic:. Vl:.icli chaff b_ u:4-..� cf t ti c. Y `..m ern n �: r't _�: ri .'1- •r: I= ..may• `` 4 I)cn; •� S(EA j. ...' C� 'r-. ^, �_`; J.�tiC i ar. t1:at it %, II notcf tti.i, reccizt Of d: _ CC 1:'i:::.iC. -C:, .�LC�1 th— DwreCtGr Of the Cf:.Ce of a l •... fae-;ai� • tc he used i:. t:,e ;reject is u:;ce.. cc::sideraticn .o:. 1isti::g�by the 20. It will ccr;cly wit1. "he flced insurr_ncc : urcl :.se require::er.t of Sccticn 10-2(a) of the Flcc DiZaster Prctcc•;.icn Act of 1973. Pub. L. 53-234, 87 Stat. 975, aporcvcd Deccmter 31, 1973. Section 103(a) recuired, on and after ::arch 2, 1974, t1;e purchase of flcod insurance in cc-mmnunities where such ins:trance is available as a condition fcr the r.eceint of anv Federal financial assistance fcr ccnStr::cticn Or acCuisiticn, p=:oses for use in anv area that has hoen ide.n♦tifiec b,✓ the Secretary of the Vera: ;::cent cf Housing and L'r`'a:Z Develo.r.ment as an area havinc s:ecial flood hazards. The phrase "Federal financial assistance" includes any fors of loan, Brant, guaranty, insurance pa_'rent, restate, suhsidy, disaster assistance loan or grant, or any' -other 'Lc-.n of direct or indirect Federal assistance. 21. It will, in connection with its performance of environmental assess-ments under the National Envirerr^ental Policy Act of 1969, cc;.,ply with Section 106 of the National Historic Preservation Act of 1966 (16 U.S.C. 470), Executive Order 11593, and the Preservaticn of Archeological and 11ist.-vi.cal Data Act of 1966 (16 U.S.C. 469a-1, at. seq.) by: •a. Consulting with the State Historic Preservation Cfficer to identify properties listed in or eligible for inclusion in the National Register of Historic Places that are Subject to adverse effects (see 36 CFR Part 800.8) by the prepose,4 activity; ana b. conplying with all requirements established by HUD to avoid or mitigate adverse effects upon such prcperties. 30 L L 22. It certifies that it has nct• knowinc:ly and willfully made or uses' a dreuj,-.,mt or w:il:.l.: o conta.lnlnq any false, flc:tlt:OL'S, or fraUi�Ulent �`1tC^f It or E".11X-�. 1%J U.S.C. 10'-�l prDvir1'us that will s r r J,7 n.' V c nt or.^VCr GC.C'� _�U �: i.. �:lli t�.�S ] J i �.zC � a._JI1 Of T1y C: ..d `^ � dgCltC'f of thr_ UI:,.t�:1 5t-,t,-. rit�dll f1.T1�!C: n0 r.-)rc t.1.4an $10, 000 or imprisoned for not: 11Orn ttTan five yearn, or both. Si,nntuz�� 'fit1e C I A 1 1 31 Limn D. A. MUCHELI, ASSOCIATES Prop( -sal For A Financial Feasibility Study August 19R,0 FI)elait.larwick, N 1 itchcll S, Ca N W,, D. A. *1ITCHELL ASSOCIATES Proposal For A Financial Feasibility Study AugLI S t 1980 ID13cat. larwick, N I itc:hd LK,Co. Pf - i 1 - -- 0 . L -_l Alarms lck' ki itchell & Cu . Donald A. Mitchell ,ust 27, 1980 ,,e Three 3. Survey the current utilization, existing waiting lists, projected utiliza- tion and justification for any expansion plans of other health facilities in the service area primarily through discussions with state and regional planning councils and officials of the other institutions. 4. Identify any major changes in trends of health care delivery within the service area, as it relates to this project. 5. Correlate population trends with demographic characteristics related to specific health needs, as it relates to this project. 6. Review and correlate plans with the results of the demographic study, identified health service needs and plans of other senior citizen facili- ties. During this task, the data and opinions obtained in the prior tasks will be analyzed to project separate utilization rates by category of service. 7. Meet with you and your associates to review data collected and assumptions to be made in the feasibility study. 8. Review proposals from management companies and advise you on selection of the management company. ase II - Detailed Financial Analysis Study Detailed Financial Projections We will prepare financial projections of revenue and expenses and calculate the debt service coverage ratio, as well as prepare the other financial projections required for the final report for the years including the first two full years of operation. The major steps involved are as follows: 1. Meet with you to gain further knowledge of the facility's general opera- tions and planned services. 2. Review with you the accounting principles employed and the detailed compo- nents of revenue, expense, asset and liability items. 3. Review budgeted operating data, such as: Operating expenses by department and departmental grouping, and sum- mary data by major expense type (e.g., salary and other operating expenses). Trends in expense categories relative to volume of patient services. historical cost finding and cost allocation reports and appropriate statistics. Trends in unallowable expenses, bad debts, third -party and other al- lowances, patient days and relationship of patient charges to ex- penses. a i••a�,7�ws1 �� PI'lMa r, ick• tit ncheI I & Co Mr. Donald A. Mitchell August 27, 1980 Page Five 3. Summary of findinrs relating to the projection of patient demand and utilization of beds. U. Analvsis of the service areas and projected demand fnr services, including ictili•r-atio�n by program. 5. Results of the phvsicinn questionnnires and interviews. Projections presented in the final report will serve as a basis for deter- mining financial feasibility. These projections will include, for the period ending two fiscal years after completion of construction and re- novation: projected statement of revenue and expense; projected cash flew: projected balance sheet; projected statement of chnngos in financial position; and proiected stntement of cltanp.es in fund halances. C. Preparation of After - Tnx Finnnci.;l Proiections As a by-product of the fore}•c,in}, work, we .ill also provik'e you with: 1. Consultation on the structure of a limited partnership syndication to raise equity capital from a tax - standpoint. 2. Financial projections suitable for inclusion in a private placement memorandum, based on our proceeding work, extended to show after - tax consequences for a limited partner in varying tax brackets. REPORTING As we discussed, we will work closel`• with you and votir staff throughout the various steps of the engagement , and we wi ] l meet t o rovi ew our f i ndi ngs and any assumpt i ons upon which our projections are based. We will attend all meetings with you and your potential lenders or underwriters. USE OF OUR REPORT We understand that the final report, including forecasts, is to he used in estimating the financial feasibility of the construction program. Our findings and projections will be included as part of a private placement memorandum to be issued by the syndication and the Official Statement for the bond issue. 1W. V A. -. .- W V"' r �A rL1i"1tNJjJr1A It: k,4tatchell & Cn Mr. Donald A. Mitchell August 27, 1 nfifl Page Six We have no objection to such nse of thn final report provided that this material, or any other reference to Peal. Marwick., Mitchell & Co,, conforms to the following; stipulations: 1. The report tow, with at t aclunent s and assnmpt i ons must he included in its entirely in the application for secaaring financing. 2. Any reproduction of our report or any reference to our report or o1ar engagement transmitted to other part;es must be approved by us in writing in advance. The information used in developing the assumptions wi 1 1 be derived from published information and other sources that we consider appropriate. However, ta, cannot assume responsibility for the accuracy of such material. Moreover, the achievement of any financial projection may he affected by possible adverse economic conditions and the occurrence of other future events. Therefore, the actual results achieved may vary from the projections. Because any forecast is subject to uncertainties, we will disclaim any representation that the projections represent future financial results that will be achieved. Our report will include appropriate comments drawing the reader's attention to these matters. It should also he realized that the financial feasihililty study may indicate that the project, as proposed, may not he financially feasible. The presentation and underlying; assumptions will be in form and content satisfactory to you, as well as conforming, to nor own standards of objectivity and professional judgement. To assure that these precepts are carried out, we will request and obtain a written statement from you in wLich you represent that. all pert-inent information has been supplied to us and Lhat they concur with the presentation. We will require a written opinion from your legal counsel and your professional engineers to the effect that the facility, or modification thereof, as planned, will he in compliance with federal. state and local ordinances, statutes and rer;ulations in effect pertaininp to land use, zoning' anr' environmental matters. In addition, we will require a written statement from you in which you represent that all pertinent information has been supplied to us and that- you concur with and adopt the assump- tions and prospective results. Should the financing of the proiect be based upon an increasing amortization of principal over the life of the indebtedness, and should such basis not provide for external, irrevocable funding, of amounts based on depreciation charges sufficient to satisfy principal payments in the later gears, we will include a statement in our report calling; the readers attention to thc• circumstances and indicating that the overall feasibility of tY project is subject to your providing for such differen- tial. In addition, we will require appropriate recognition in the private placement memorandum of our comments in this regard. Our report wi 1 1 also indicate that we have no obligation to update the report or to revise prospective financial results because of events or transactions occurring subsequent to the date of issuance. NILI It il, Man%ick. %I adiell & Co ir. Donald A. M i t c h e I I :ug,ust 27, 19°0 'age Seven ou should be advised, both in the pro po!;aI anti in the report, that where the nterest rate is higher than that originally given us, we may not permit the use of rur report. 'OUR PARTICIPATION Ie will require some assistance from you in conductinp this study. It is stl,,pested hat one member of your group be appointed coordinator for the study. The coordina- or will schedule necessary meetinps and interviet.,s, and assist in accomplishing; -outine data gathering and certain clerical work. aUR nl1ALIFICATIONt !e have undertaken over 100 financial feasibility studies during; the past five years. iany of these studies have bean used by financing agencies in official offering tatements for the sale of tax exempt revenue bonds amounting to more than .800,000,000. The Firm has worked extensively with many state, federal and private ending institutions in the issuance of bonds and other debt instruments to finance onstruction of senior citizen hrnrsinr, nursing home_, hospital facilities and other ypes of housing. n the process of conducting financial feasibility studies, extensive evaluations ave been undertaken of accounting; systems procedures and practices, third -party eporting, third -party reimbursement, projection of prograr: and operating revenue ind costs and many other elements involved in the overall financial management and �rforinance of the institution. In ::;'',iti;n, as part of the feasibility process, we ive conducted needs analvsi. .nd (rc•r,,and a�_;c>r,sr:ents. i addition to nn extensivo experir�nce in performing financial feasibility studies, have experience and resources in the followin? areas: -- Third -Party Roimburscment and Appoals During the past several years we havo undertnl:,,n a number of large third -party reimbursement studies to maximize revenue to health institutions. The scope of services provided included: preparation of documentation for third -party rate appeals; idevelopment of cost finding procedures for Medicare; review of Medicaid Cost Reports to maximize reimbursement; preparation of ?•ledicaid and Medicare Cost Reports; ' representation at exit conferences for third -party audits; implementation of chanpe s in accounting systems to maximize third - party reimbursement, I to I".' Z WWW T7 N Mwwi°.<..,: . FL,zl, Marti ich, %I uchell & Co Mr. Donald A. Mitchell August 27, i,,Rn Page Fight Prnspect-'It `v terns We have provided c•ornrsol and assi .lance to humorous stat^s, and to the Soci al Security Administration relntivr' tc) the estahlishment of prosprctive reimburse- ment systems. Phis assistance has involved such technical areas as: mandaL,�d code account i nl"; uniform statistical definitions; definition of cost centers; definition of fixed and variable costs. Medicare and Other Cost Reimbursement Audit Services Besides the normal audit services provided to our }sealth care clients, we have served Blue Cross and Travelers Insurance Company in its cost reimbursement auditing for several years. This work encompassed the audit of cost repnrts for reimbursement under Medicare for institutions in wlich Blue Crnss or Travelers Insurance Company was the fiscal intermediary. Financial and nther nperating Studies In addition to the above, %;e have undertaken a significant ;lumber of engagements that have provided us with an i ndopth familiarization with health care opera- tions and anticipated activities fnr new health care institutions. A partial list of these studies includes: reconnaissance of operations, productivity and systems to provide control and identify cost reduction potential (industrial engineering techniques, systems desit,n and flow charting); general manag,errent survey and assistance with budget preparation; development of an effective accounting system with recommendations for improvement of ,-,anag(rrnent reporting; upgrading accounting systems and procedures preparatory to instal- lation of data processing, systems; preparation of financial projections relating to hospital and nursing home expansion; development of computer specifications and the provision of assis- tance in installing new accounting systems; implementation of new laboratory organization and systems; • development of full time physician compensation plans; direction of long range planning studies. ..-ems . _ 'S�":��'R'�..i,► . -i - 1 :• l�at,'11an� tch, "11 u�hell �. C« Mr. Donald A. Mitchell August 27, 1080 Page Ni ne Tax Practice The Tax Department of the Miami office of I' Nk"Co. , with over 30 professionals is one of the largest in Florida. Under the leadership of Tom lluston, Jr. our Tay: Depart- ment has accumulated sipnificant experience in Lhe real estate industry. STAFFING Performance of a financial feasibility study is a highly technical undertaking that requires an in-depth understanding of the health care industry, local demographics and attitudes, and technical financial aspects of senior citizen facilities. There- fore, it is essential that qualified and experienced staff perform the study. Ac- cordingly, we assign only personnel who have had extensive experience in performing financial feasibility studies for senior citizen experienced facilities as well as other personnel with related health care and financial experience. The management team that will he assigned to perform the financial feasibility study includes: Dale J. Maschino Kerry Hayes Norman C. Hirsch Donald Goldberg Robert Incorvati Tom Huston, Jr. Resumes are contained in the Attachment A to this letter. TT I.1TKG AND FEES Our fees are based on the amount of time actually spent on the engagement. In addition, we are reimbursed for out-of-pocket expenses incurred for secretarial assistance, computer processing, travel, report preparation and the like. Based on our experience with studies of a similar nature, we estimate that the fees will range between $28,000 and $30,000 and that expenses will approximate 10% to 15 of fees. Should the time required of our staff to complete the engagement be less than estimated, our charges would reflect the actual time spent. In addition, if circum- stances develop thaL create the need for additional effort beyond that in our work plan, we would review the situation with you before incurring any additional charges. It is our practice to submit billings as our work progresses. The nature of this engagement dictates that the payment of our fees be in no way contingent upon its results. Acceptance of this proposal will indicate that you guarantee payment of our fees and expenses regardless of our findings. You may discontinue the engagement at any time and will be liable only for the fees and expenses incurred through that period. r: . sk fd� 1 at,hlamich,%Iitchell&Cn Mr. Donald A. Mitchell August 27, 1980 Page Ten Thank you for the opportunity to discuss with you how we may be of assistance in this important projcct. We look forward to working with You on this engagement and are prepared to begin promptly after receiving, your approval to proceed. Very truly yours, PEAT, MARWICK, MITCULL S CO- DJM:wp r IT—W 11 Q . ),�� Dale J. Maschino, Principal ry . U W 'o. -X. } 1•';� ':ir=��. ai r . � / Health Systems Agency of South Florida, Inc. i050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 STAFF FINDINGS AND RECOeLMENDATIONS APPLICANT: D.A. Mitchell Associates Project No. 0532 TITLE OF PROJECT: Jackson Towers Nursing Home :. A. S U`u-LkRy The applicant is requesting Certificate of Need approval in the amount of $4,983,756 for a nursing facility. The nursing home will have 288 beds on 3 floors of a multi -story building. The other floors will provide elderly and handicapped living facilities. Administration and ancillary services will be provided in the facility. B. ISSUES The Contingency -Change Order Inflation Factor plus construction overhead are calculated at 7% of the building Pnd construction costs. Given a 17 month timetable for construction, this estimate is too low. Therefore, staff is recommending that the Certificate of Need be issued for the $4,987,751 plus a contingency factor of 25% or $805,305. This totals $5,793,056. C. STAFF RECO'1:4ENDATION The proposed nursing home is in compliance with adopted plans, criteria and; standards, and the Health Systems Agency of South Florida recommends to the Office of Co^imunity Medical Facilities that a Certificate of Need in the amount of $5,793,056 be issued for the project in its entirety. D. STAFF FINDINGS 1. The existingnursing homes providing services to the same geographic area and target population are being utilized in an efficient and appropriate manner ane the ,addition of the proposed nursing home or appropriate in maintaining efficiency in the existing facilities. 2. The capital and operating costs can be met without adverse impact on patient charges in other similar facilities in the same geographic area. The proposed project can be carried out in an efficient manner, is financially feasible and will contribute to cost containment. The proposed nursing home is appropriate with respect to the plans and pro- grams of the agency, including the HSP/AIP, and with other applicable local, State and regional plans, law and regulations. 3. Alternatives to the nursing home have been analyzed in terms of cost, efficiency and appropriateness, and it has been found that superior ' alternatives do not exist and the development of these is not practicable. 4. Patients will experience serious problems in obtaining health care of ' the type proposed with respect to availability, accessibility, cost and quality, if the proposed nursing home is not approved. I r kJ :�._;•66 Health Systems Agency of South Florida, Inc. Project No. 0532 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 PROJECT REVIEW RECORD Applicant: D.A. Mitchell Associates Title of Project: Jackson Towers Nursing Home Address: 1400 N.W. loth Avenue, Suite 16C, Miami, FL 33136 Contact Person/Telephone: Donald A. Mitchell - 324-7211 Project Location: 888 N.W. 15th Street, *Miami, FL 33136 Date Letter of Intent Received: October 15, 1979 Date Application Received: December 17, 1979 Date Application Accepted as Complete: March 17, 1980 Type of Review: CON X PUFF A-95 ESRD OTHER Degree of Review: Substantive X Non -substantive Proposed Funding Scarce: D.A. :-titchell Associates, Security Pacific Inc., & FHA Estimated Project Cost (Total): Capital Exp. $4,983,756 Related Services Currently Rendered by Agency/Facility: None Project Abstract*: The applicant is requesting Certificate of Need approval in the amount of $4,983,756 for a nursing facility. The nursing home will have 288 beds on 3 floors of a twelve -story building. The other floors will provide elderly and handicapped living facilities. Administration and ancillary services will be provided in the facility. Primary Staff Assigned: Maria A. Alonso-t•Sartinez Review Schedule: See Review Bulletin *Includes any proposed change in services. R.D. Fcrm 1 -a . — f Y W-. sift . -1 1 .. i Project No. 0532 All nursing homes in Florida are licensed pursuant to Chapter 400, Florida Statutes. Nursing homes may be licensed as skilled nursing care homes (level one) or intermediate nursing care homes (level two). It is also possible for a nursing home to be licensed to provide two or all three of the above mentioned levels of nursing home care; this is, in fact, a common practice. The various levels of care are defined as follows in Chapter lOD-29, Florida Adminis- trative Code: IOD-29.37 OPERATIONAL STAITDARDS FOR NURSING HOMES -- Nursing homes will be licensed in the following categories and shall meet the following standards: 1. Skilled Nursing Care Home - A facility providing a full range of health and related services, including skilled and extended care, with or without an organized medical staff, having a registered nurse employed eight (8) hours per day, seven (7) days a week and in charge of the nursing service and registered nurses and/or licensed practical nurses on duty at all other times. Such addi- tional personnel shall be provided as may be required to perform the dietary, housekeeping, clerical and mainte- nance needs of the facility. The nursing service shall be staffed as a minimum, in accordance with lOD-29. The registered nurse in charge of the nursing services shall not be the administrator and shall not act as the assis- tance ad:airiistrator if the administrator serves more than one health facility. 2. (a) Designated Part of a Skilled Nursing Care Home (Intermediate Care Two Level) - This unit is a distinct part of the physical plant of a skilled nursing care home and provides a minimum of nursing services under the direction of a registered nurse or a licensed practical nurse on duty in the skilled unit who will be responsible for administration of medications and treatments as ordered by the physi- cian. The nursing services shall be staffed in accordance with IOD-29. (b) Designated Part of a Skilled Nursing Care Home (Intermediate Care One Level) - This unit is a dis- tinct part of the physical plant of a skilled nursing care home and provides professional and licensed nursing services for intermediate care level one patients. The nursing services shall -be staffed in accordance with Chapter 1OD-29 of these rules. 3. (a) Intermediate 11ursing Care Home (Intermediate Care Level One) - A facility under the management of a licensed nursing home administrator, providing an appropriate range of healthand related services, in accordance with these rules. The nursing service shall be staffed, as a minimum, in accordance with 1OD-29. The registered nurse in charge of the nursing services shall not be the administrator and shall not 2 ..AlrX • 4,8�x G. .rr . - r 1 -M& . M1r• 17 Project No. OS32 act as the assistant administrator of the home if the administrator serves more than one nursing home. The nursing services shall be staffed in accordance with 1OD-29. In addition, there shall be sufficient personnel to provide for staffing of the dietary service, clerical office, housekeeping service and the maintenance needs of the facility. 2. Summary of the Application D.A. Mitchell Associates is requesting Certificate of Need approval to build a multi -story building where a 288 bed nursing home will be housed. The total cost of the building is estimated at $12,654,185; the nursing home component (40%) is estimated to cost $4,983,756. The applicant is proposing to have 144 skilled nursing beds and 144 intermediate care beds. The following services will be offered at the facility: Educational Optometry/Opth almology Physical Therapy Religious Services Speech Therapy Social Services Occupational and Recreational Services Reality and Rernotivation Services Dental Services Psychiatric Services Podiatry and Dietary Counseling Ancillary Services to be provided also include X-ray, laboratory, and pharmacy. The applicant proposes to refer patients to other services as needed. For example, homemaker, home health services, hospitals, etc. II. STAFF A2:ALYSIS Criterion 1 - Relationship to HSP/AIP and other plans The applicant states: A) HSP Objective 10. Problem Priority 3. By 1980, increase the bi-lingual capability of nursing home direct service personnel (nurses, nurses aides, orderlies, porters, and maids). Response: Our facility will have the personnel policies to encourage present and future emplcyees to have (or develop) bi-lingual capability by: 1. Wage rate differential for bi-lingual employees. 2. In-service (on-the-job) training program will also accomplish the above purpose. 3 ... r • - • — • .aal%- .,---a . - •fa, -a lia —. WAM . -I Project No. 0532 B) HSP Objective 2, Problem Priority 4. Establish comprehensive, structured, and fully implemented patient education program; in all hospitals, nursing homes, public health departments, primary health service centers and health maintenance organizations prior to 1982, including health promotion and educa- tion services that: - Encourage increased and appropriate utilization of prevention and early detection health services; - encourage appropriate utilization of all other health services; and - teach and encourage consumers to employ preventive health techniques (e.g. nutrition, exercise, safety). Response: Our facility will adopt the three stated objectives: 1. Encourage appropriate utilization of all other health services; and 2. encourage increased and appropriate utilization of prevention and early detection health services; and 3. teach and encourage consuT�rs to employ preventive health techniques (e.g. nutrition, exercise, safety). These will be implemented by incorporation into our facility policies, Job description, as well as responsibility assignment to key personnel. 0 HSP Objective 15, Problem Priority 4. By 1980, increase the number of lcng-term care beds (skilled and inter- mediate beds in nursing homes) available in Dade County by 552 and in Monroe County by 181. Response: Our facility will increase the number of long-term care beds by 288 due to the HSA Nursing Ho^.e Study, Nov., 1977, submitted justifications for the 1977 level of 5,713 beds to be increased to 6,031. HSA imple- mentation plan calls for phased increases in bed capacity over seven years. Florida Bod Need Task Force Study indicates a bed need of 552 by 1980. The HSA Board of Directors reco„rended that: . HSA invites proposals for new skilled nursing facilities", in Dade County and HSA has also stated intention to encourage South Florida providers to meet this bed need. D) HSP Objective 16, Problem Priority 4. - By 1982, reduce the defined unmet need for the following nursing hone and professional services by the percent indicated.* 1. Educational services from 3% to 0%. 2. Optorrietry/Ophthair.ology from lb to 0%. 3. Physical therapy from 2" to 07 _ 4. Religious services frcm 2% to 0%. 5. Speech therapy from 3% to Off. — 6. Social services from 2a to 6%. 7. Recreational services from 17% to 0:. 8. Dental services from 29. to 159. 9. Psychiatric services from 55, to 33%. 10. Reality and remotivation services to OZ. -7-iie percentage of un ,et nee )ndicat are lase up—on� n?ro,:;;, ,00nn nclude ,n the t�jrsin3 [; scriptive C�c� '_nt, Health Systems Agency of Project No. 0532 By 1965, 1. Dental services to 0%. 2. Psychiatric services to 0%. Response: Our facility will reduce the defined unmet need for professional services of 1) Educational; 2) Optometry/Ophthalmology; 3) Physical therapy; 4) Religious services; 5) Speech therapy; 6) Social services; 7) Recre- ational services; and 10) Reality and remotivation services to approach a zero percent by facility policies, staffing and a dedication to excel in comparison to other Florida institutions. Dental and Psychiatric services percentages will be reduced so far as possible, subject to.re- imbursement rates, patient cooperation, etc. The State has recently passed enabling legislation to provide for unmet dental services. HSP Strategy 16: Educational Services Nursing home administrators identify patients in need of educational services and initiate contact with the Dade County School Board to increase provision of need services. A concurrent action is taken by the Dade County School Board to expand its existing Adult Educa- tion Program in comunity nursing homes and to coordinate its activities as appropriate with the volunteer programs. - Religious Services - Nursing home administrators identify patients in need of religious services and initiate contacts with appropriate denominations to increase provision of needed services. A concurrent action by the various religious denominations is taken to assist in the identi- fication of patients' religious needs and to expand existing programs as necessary. - Recreational Services and Social Needs The District XI Office of the Florida Department of Health and Rehabilitative Services (FDHRS), in conjunction with the District Health Care Association (CHCA) and representatives of nursing homes not r..erbers of the District Health Care Association, develops a recreational program proposal for monies available under the Comprehensive E^iplo.yTent and Training Act (CETA) program, or any other appropriate funding source to staff recreational programs in corunity nursing homes. - Reality Therapy and Pemotivation Services - The District XI Office of FCHP,S, in conjunction with representatives of local nursing homes and other appropriate entities, identifies potential sources of public and private funds for the development of training programs for nursing horse staff in reality therapy and remotivation services and develops an appropriate grant application for such. The District XI Office FDHRS would contract with an appropriate co.rnunity entity to implement the program funded by the grant. Response to Strategy 16: 1. Our facility will maintain liaison with the Dade County School Board and volunteer programs as well as provide space, scheduling and neces- sary assistance to provide in-house educational programs. 2. Our facility will identify patients in need of religious services and initiate contacts with appropriate denominations to increase provi- sion of needed services. This applicant has been involved in such services for a number of years. 4 Project No. 0532 E) HSP Objective 9, Problem Priority 5 By 1980, incorporate nursing homes into proposed referral, feedback and follow-up arrangements to include uniform patient transfer procedures between and among nursing homes and related health care organizations. Response: Our facility will establish uniform patient transfer agreements with the area hospitals, as well as other nursing homes in the area. This will include referral as well as feedback and follow-up of nursing home patients. STUFF COT4ENT The applicant addreszed the 1979 HSP due to the fact that the application was submitted prior to approval of the 1980-1985 HSP. As can be seen from the applicant's responses, the proposed nursing home is consistent with the needs identified in the HSP. Although the applicant did not specifically address the Criteria and Standards for Nursing Homes, the staff's comparison of the Criteria and Standards with the application shows that these are consistent with each other. Criterion 2 - Rclatienship to applicant's long-range plans The applicant states: The long trr•" in thi, n7�lication are an integral part of the total service conceptinthe entire develop7ent. Other floors will provide adult congregate and handicapred living. The ancillary services of the nursing horse will be used on an outpatient basis by those living in the facility. Ancillary services will include physical therapy, occupational therapy, speech, hearing, podiatry, den- tistry, psychiatry and other services. The long range plan calls for develop- ment of all necessary services for both the nursing horse and the elderly popula- tions. The plan is being developed and will be submitted to HSA upon completion. Criterion 3 - Nced the po-_ulation served or to be served has for the proposed health services The applicant states: The primary service area will be Dade County. This large facility was planned for this area due to the following needs: 1) Jackson Memorial Hospital Complex comprises the largest concentration of hospitals and related special services in the Southeastern United States; 2) the access to public transportation, as well as all expressways is excellent regarding visitcrs so necessary to a patient's well-being; 3) the geriatric population over 65 years of age is concentrated in this central heart of Dade County; 4) our dedication to a 50A Medicaid patient census is in line with our being adjacent to the acute care services of the County's indigent population; 5) Jackson 11"e7norial Ncspit31 has had a huge rate of indigent patients occu- pying acute care tells beyond the necessary tire due to a lack of nursing beds available; 6) the Cady-!'on,-oe PS^O recent survey that indicated 4.2 Medicaid patients awaiting each available S%F Medicaid bed in the cc ,*.unity; 7) this facility will also provide S%C/ICF beds in-house for the substantial amount of handicapped and a;ed beds under the sane roof. The r..c xnt the SUC/ICF bed is no lcn;er required, the indivi.ual can return to his former floor and friends without the disorientation syndre�.e frequently encountered. 6 'y QkLu' •; I Project No. 0532 E) HSP Objective 9, Problem Priority 5 No go M �I 8y 1980, incorporate nursing homes into proposed referral, feedback and follow-up arrangements to include uniform patient transfer procedures between and among nursing homes and related health care organizations. Response: Our facility will establish uniform patient transfer agreements with the area hospitals, as well as other nursing homes in the area. This will include referral as well as feedback and follow-up of nursing home patients. STUFF CC,'%i,"4= The applicant addressed the 1979 HSP due to the fact that the application was submitted prior to approval of the 1980-1985 HSP. As can be seen from the applicant's responses, the proposed nursing home is consistent with the needs identified in the HSP. Although the applicant did not specifically address the Criteria and Standards for Nursing Homes, the staff's comparison of the Criteria and Standards with the application shows that these are consistent with each other. Criterion 2 - Relationship to applicant's long-range plans The applicant states: The long I---- h;4, in this Arplication are an integral part of the total service conceptinthe entire development. Other floors will provide adult congregate and handicapped living. The ancillary services of the nursing home will be used on an outpatient basis by those living in the facility. Ancillary services will include physical therapy, occupational therapy, speech, hearing, podiatry, den- tistry, psychiatry and other services. The long range plan calls for develop- ment of all necessary services for both the nursing home and the elderly popula- tions. The plan is being developed and will be submitted to HSA upon completion. Criterion 3 - ?iced the population served or to be served has for the proposed health services The applicant states: The primary service area will be Dade County. This large facility was planned for this area due to the following needs: 1) Jackson Memorial Hospital Complex ccmprises the largest concentration of hospitals and related special services in the Southeastern United States; 2) the access to public transportation, as well as all expressways is excellent regarding visitors so necessary to a patient's well-being; 3) the geriatric population over 65 years of ace is concentrated in this central heart of Dade County; 4) our dedication to a 50A Medicaid patient census is in line with our being adjacent to the acute care services of the County's indigent population; 5) Jackson Memorial Hospital has had a huge rate of indigent patients occu- pying acute care beds beyond the necessary time due to a lack of nursing beds available; 6) the Dade-''onroe FSPO recent survey that indicated 4.2 Medicaid patients awaiting each available S',F Fledicaid bed in the corrnunity; 1) this facility will also provide S%C/ICF beds in-house for the substantial amount of handicapped and aged beds under the same roof. The moment the St1C/ICF bed is no longer required, the individual can return to his fo raer floor and friends without the disorientation syndrome frequently encountered. Project No. 0532 i The location of the proposed project and programs it is designed to serve will ensure full continuum of care. The Patient, Mr. X., who requires hospitaliza- tion could, upon discharge, return to his irrediate community for post -hospital, long-term restorative care. Discharge planning and comprehensive communications between Lhe t,.0 levels of care will allow for optimum planning by the proposed facility to have prepared for the patient's need prior to his actual admission. Then, as this same patient, Mr. X., is being prepared for discharge from the proposed long -tern restorative care facility to an ACLf unit, the same dis- charge planning and comprehensive ce:srunications would take place between the proposed facility and the restoration facility, with continuity of professional or supportive care and guidance. It is the applicant's intention, as certified, to provide outpatient services co,—rensurate with the professional staffing of the proposed facility. This allows even f.,rther continuity cf care. We now see patient, Mr. X., no longer homebound, who has available to him outpatient services, as indicated, by essentially the same staff which initially prepared for the original hospital discharge, cared for him within the proposed facility, ensured a viable and workable transition to his living unit and yet continues to be available to him for the final care, which will ensure his return to maximum level of function. The applicant ensures a total '.eam approach to the specific and comprehensive rnanagerent and individual needs of each patient. In addition to the 90-day utilization review cc:-ittee, there will be intra- or inter -departmental patient review as frequently as indicated. The applicant assures maximum harmony and cc-runication bet"een all disciplines and all departments of the proposed project in order to allow casual, as well as formalized, sharing of patient assess-ent. Ongoing e-phasis will be made to reinforce the World Health Organization credo that "health is a state of complete mental, physical, and : L"n;, :: -:t 7crely the - absence of disease or infirnity." The applicant's co7z"Atr.ent to provide the highest quality and efficiency of resident care is demonstrated by: The multi -disciplinary team approach to progressive patient care provided t; t ysicians, nurses, social workers, recreational workers, occupational therapists, physical therapists, volunteers, and other ancillary personnel; cnoo4ng ir,-rvice trairing and continuing education programs for the project's staff; unitization of geriatric: nurse practitioners; provision of services by physician specialists; utilization of volunteers. Provision of the following services are offered to all residents: 1) A complete range of medical and dental services including X-ray, laboratory, pharmacy, podiatry, op�t�al-olony, etc.; 2) a co-plete range of psychiatric and social services including individual and group therapy, reality orii:ntation, re.-otiva- tion t!vr>;y, assertiveness training, etc.; 3) a wide range of therapies and recreational activities including speech, physical, occupational and recre- ational therapy, arts and crafts, religious observation, educational programs for college credit, etc. Dietary counseling and therapy, specialized diet programming. c M r IJ Project No. 0532 STAFF COMMENT As of March 1980, tlieze were thirty-eight nursing homes with a total of 5,545 licensed beds providing skilled and intermediate care. An additional 168 licensed long-term care beds are available in the Veterans Administration Hospital, and 80 approved beds that have not been built yet. This brings the total licensed, available and approved beds to 5,793. BSA IX Long Term Care Bed Need 1980 BSA IX Dade County 1980 1980 Indicated Need (1979 population base) 6,595 6,400 Total licensed available and approved beds (3/1/80) 5,823 5,793 Total Excess (treed) (772) (607) The 288 beds proposed by the applicant will help meet the need for nursing home beds in Dade County. During 1978, the occupancy rate of the thirty-eight nursing homes was as follows: Nursing How A.tna E. Anderson Arch Greek Coral Gables Ccn•:alescent East Rid^e L;:r:.era.n Fair Havers Flo_idean Fou.ritair ead Four Freedc=s Green Briar Greynolds Park Hebrew Fzne fcr the Aged Heritage Hczse Hialeah Convalescent Homestead Xanor Hu: -an Resc•.::ces Jackson Heights Jackson N.ancr Krest vied La Posada Convalescent Lincoln Me_-x,�rial Occnu an_y Pate 86.0♦ 88.3♦ 91.5% S9.6% 86.0% 94.5% 98.2• 92.7♦ 84.0% 67.7♦ Vmv sown 92.2% 57.9♦ 99.0% 46.9% 99.0♦ 98.9% Unknown 92.7% 91.6% 8 Nursing Home Occunancm, Rate Lutheran N.edical 74.3% Miami Beach Hebrew Home for the Aged Miami Beach Nursing Hone Miami. Jewish Home 6 Hospital for the Aged New Riviera F?ealth Resort North J;iam.i Convalescent North Shore Palzetto Extended Care Center Palms Convalescent Pinecrest Convalescent Pines Nursing Home Ponce de Leon Convalescent Ramsey Royal Glades Convalescent Snapper Creek Towne House for Convalescents Treasure Isle Convalescent Villa Maria 98.0% 93.5% 96.1% 95.4% 97.0• 97.0% 93.2% 98.0% 91.5% 99.0% 99.9% 92.3♦ 92.1• 93.2♦ 105.5% 99.2% 96.2% - - - - W-. W# ..4 Project No. 0532 to M M r r 10 CJ r II I L As of January 1, 1977, the total patient population in Dade County long-term care facilities was 5,017. This represented a licensed occupancy percentage* Of 91.7 and a functional occupancy percentage** of 94.1. The sources of funding for this patient population were as follows: Medicaid*** 52.1%; private 28.2%; Dade County, 10.1%; Medicare 6.6%, and Veteran's Administration contract 3.0%. The licensed occupancy percentage of 91.7 for the month of January, 1977, represents a continuation of monthly trends which indicate a steadily increasing licensed occupancy percentage in Dade County long-term care facilities. During the eighteen month period between January, 1975, and June, 1976, for instance, the average licensed occupancy and functional occupancy percentage for Dade County facilities was 92% and 95% respectively. During this time period the funding sources for this patient population were as follows: Medicaid,*** 52%; private 30%; Dade County 9%; Medicare 6%; and Veteran's Administration 3%. The monthly patterns in the percent of patients by category of reimbursement has been fairly constant as far back as calendar year 1974. The only evident trend is a steady, yet small, increase in the number of Medicaid and Medicare patients. as a percent of the total patient population with a corresponding small decrease in the private patient popula- tion. The percent of the total patient population whose care is financed by the Veteran's Administration has remained constant, while the number of Dade County clients as a percent of the total patient population has demonstrated sporadic shifts, with no discernable upward or downward trend. A survey was conducted, where 20 facilities participated. Nursing, physician, dental, podiatry, recreation, religious and volunteer services were available in all twenty facilities. Physical therapy was available in nineteen facilities; optometry and ophthalmology in eighteen facilities, social services in sixteen facilities, speed, therapy in fifteen, occupational therapy, psychiatric and transportation services in fourteen facilities, audio- metry in eleven and educational and respite care**** services in eight. All available services were provided on an as needed or by demand basis. Occupational and physical therapy, recreation, social services and volunteer services were provided mostly on a daily basis. With the exception of audio- metry, psychiatric and respite care services, all the other services were provided on a regularly scheduled, weekly, bi-monthly or monthly basis. There was no additional charge for educational, recreation, religious, social services or volunteer services. Social services are generally provided through social service agencies. For the specialized services, such as audio- metry, dental, optometry, ophthalmology, physical therapy, podiatry, psychiatry, and speech therapy, there is usually an additional charge. Since most homes do not have full time staff to provide the specialized services on a regular basis, they are most frequently provided on a contractual basis with an individual provider. The patient generally pays the individual provider directly or, in the case of indigent patients, the appropriate third party mechanism (e.g. Medi- caid; Dade County Placement Program) reimburses. * Licensed occupancy percentage -percent of licensed beds that are occupied. ** Functional occupancy percentage - percent of functional -(staffed) beds that are occupied. *** Includes Cuban Refugee Assistance Program **** Respite care - individual may be placed in a nursing home for a short period of time, e.g. weekend, two or three week vacation period. 9 :.tj Project No. 0532 The service indicated as being needed the most was recreation (1,693 patients or 72% Of the patient sample were estimated to be in need of such services), fol— lowed by religious services (1,315 patients or 56% of the patient sample) and social services (1,175 patients or SO% of the patient sample). In most instan— ces, 97% or greater of the patients received the needed services. The greatest area of unmet need was psychiatric services. Two hundred forty seven patients per month were estimated to be in need, with only one hundred thirty three or 45% actually receiving the service. The second greatest area of unmet need was dental services, with seventy patients or 71% of the ninety patients per month estimated to be in need of such services actually receiving such services. Criterion 4 — The availability of alternative, less costly or more effective method of providing such proposed health services The applicant states: Long delays for nursing home beds are reported by all major hospitals in the medical complex area. There are not sufficient long-term care beds in the central area to meet the existing need for placement following hospital care. This lack of availability is also felt by those whose needs have not required hospitalization, yet who need long-term care. The following alternatives were considered by the applicant: 1 1. The O lzrrzt'.ve of 1—ving an existing nursing home would not add to Dade's bed census cr rationally add new programs or concepts envisaged by owner. 2. The building of a nursing home only at today's costs and reimbursement rates was not found to be feasible. , 3. Cost efficient design of building and operating costs was chosen with a moderate nu-ber of nursing beds, completemented by elderly/handicapped floors to a greater degree. The alternate f3 was chosen to maximize the advantages of financing, design and building efficiencies by a combination geriatric facility. This to also meet substantial needs of the community. The proposed project will cc-alement existing services in Dade County. It will also aid shortfall of authorized beds to assist meeting the comprehensive health care muds of our co=unity. STAFF CO' MENT At the present time, there is no alternative to the construction of this new nursing home due to the needs identified in the HSP for nursing home care. Criterion 5 - The imiediate and long-term financial feasibility of the proposal Applicant data: These Funds are Source of Assures but not Currently Funds A.riount in $ In Hand in Hand being Sought At initial Owner's Land Equity 11,337,321 closing Coi;�riences at Investor Syndication *1,921,193 initial closing w Bonds or FHA Insured Loan *11,336,431 After COy TOTAL $14,600,945 to —. .-. 11 MAI • - 6 w. -M� ...xi WS MAW .t. , 7 wawa , !.wow �.� % wave .1 TABLE I QUARTERLY CASH FLOW PRO FORMA 'Mint'as 3 6 9 12 15 • 18 21 24 r.,:ient; 13 31 51 69 85 109 109 109 \XIII 1 4 12 16 18 20 20 20 NIX 29 53 67 SO 112 130 130 130 A%-,-. Census 43 88_ _ 130 175 215 259 259 259 Pr:%•.1te Rates t� $49 Minimum incren 35, as allowed by legislation, if when passed. In..-e i7lv3te S641350 $153,450 _$252,450 _ $341,550 $420,750 $539,550 $539,550 $539,550 \.:II 0 $17,640 $52,920 $70,560 $79,380 $88,200 $88,200 $88,200 XI\ *()1.350 166,950 211,050 283,500 352,800 409,500 409,500 409.500 Total Patient Income $160,110 $338,040 $516,420 *695,610 $852,930 $1,037,2.50 1,037,250 1,037,250 An:iII.iry S10,050 $13,500 $401500 $54,600 $68,500 $81,310 $81,330 $81,330 Cross Income $170,160 $351,540 $556,920 $750,210 $921,480 1,118,580 1,118,580 1,118.580 Operating EYv_ense $151 400 $229,300 $292,300 $402,200 $495,700 $641,400 $641,400 $641,400 73xes $50,600 $50,600 $50,600 $50,600 $50,600 $50,600 $50,600 $50,600 Dew- Service $261,439 $261,439 $261,439 $261,439 $261,439 $261,439 $261,439 Total Operating E%-pense $202,000 $541,339 $604,339 $714,239 *807,739 $953,439 $953,439 $953,439 Total Income -0- P r.iit (Loss) (S31,840) ($189,799) ($47,419) $35,971 $113,741 $165,141 $1.65,141 $165,141 ?lccumulated Profit (Loss) ($31,840) ($221,639) ($269,058) ($233,087) ($119,346) $45,795 $210,936 $376,077 PATILNT COST FER ill $52.19 $68. 35 $51. 65 $45.14 $41. 74 $40. ()0 $/10, 90 $tl0. 90 Z. Aid .iffy►. �� a..t �., � �'��� w PAN i► 3 W49 UUU TABLE 2 OPERATING MT ENSES Expenses by Quarter 1 2 3 4 5 6 7 8 Adm. . 37,500 42,000 50,000 62,000 83,000 102,000 102,000 102,000 Nursing 12,000 14,000 18,000 26,000 34,000 44,000 44,00 44,000 Nursing 309000 63,000 84,000 115,000 140,700 199.0ro 199,000 199,000 -Drugs 2,OCO 5,800 8,000 11,000 14,000 18,000 18,000 18,000 Activities 2,000 4,400 6,000 8,000 10,000 12,500 12,500 12,500 Physical Therapy 2,000 5,900 6,000 11,100 14,500 18,400• 18,400 18,400 Occupational Therapy 1,800 3,800 5,000 6,100 8,000 10,000 10,000 10,000 Dietary 24,000 41,000 56,600 90,200 105,000 .120,000 1309000 130,000 Housekeeping 4,000 11,000 15,000 19,000 24,000 30,000 30,000 30,000 Laundry 2,000 3,400 5,200 6,800 8,500 11,000 11,000 11,000 32,000 32,000 32,000 40,000 46,000 56,000 56,000 56,000 Ancilliary test 2,000 -3,000 4,500 6,000 8,000 10,500 10,500 10,500 151,400 229,300 292,300 402,200 495,700 641,400 641,700 641,700 Project No. 0532 The percentage to be financed by debt is 90%. The following are the estimated terms of the debt: Amount to be financed by debt $ 11,336,431 Total Bldg Interest Rate 9.0% Additional Discount Points 2;5x Prepayment of Interest $ No Payment Period 40 years 7 The following are the projected charges for the proposed project: Private $ 55 Skilled Medicaid Rate S 49 Intermediate Medicaid Rate $ 35 * (Supplied in 5 annual payments) * ($12,312,635 if tax exempt bonds are used) STAFF C0:•LdENT The applicant enclosed personal financial statements for Mr. Donald Mitchell and all partners of Security Properties -179. The net worth of all the partners for Security Properties -'79 totals $9,162,695; and for D.A. Mitchell it totals $1,093,765. Security Properties -179 as the Administrative General Partner of the Partnership with D.A. Mitchell, will be responsible for managing the Partnership's affairs .� and together with Mr. Mitchell (Developer General Partner) for preparing and sending all reports, accounting and tax information to the limited partners. Given the fact that the proposed nursing home is not in operation, a ratio analysis is not appropriate in order to determine financial feasibility. It must be assumed then, that all Partners involved will contribute to make the project financiaiiy feasible once the CON and approval from the FHA are received. The applicant is aware that if tax-exempt revenue bonds are desired, the legal entity applying for these bonds and responsible for the ownership of the nursing home has to be non-profit. Criterion 6 - Relationship of the proposed health services to the existing health care system within the proposed service area The applicant states: Our new facility will impact on the existing nursing homes by reducing the waiting lists at a number of homes, especially for the Medicaid patient. More importantly gyre expect our higher quality of care more complete services will inspire many homes to improve their caliber of skilled and intermediate levels of care. 13 t Project No. 0532 Existing specialized services in the JMH complex such as kidney dialysis, Bascom Palmer, Cancer Center, National Parkinson, Spinal Injury Center, and others will be utilized for various services. The facility will have all the usual services of the largest skilled nursing homes such as phisio, occupational, speech therapy as well as chest X-ray, pharmacy,. Space and time will be provided visiting specialties, such as -, dental, psychiatric, etc. -- Patients in need of long-term care bed placement are not candidates for some alternative r..3lle of supportive care i.e., homemaker, home health. The project effectively uses capital in providing health services for these who must have long term care. T Alternative health services are not present in sufficient quantity to currently -+ meet the needs of the elderly. The proposed project will, in a most reasonable cost effective manner, provide quality care for these who need SNF and ICF care. STAFF CO%", 4LD1T The applicant has not provided any documentation of referral agreements between other facilities because no agreements have been established. However, no documentation has been provided either, that conversations are taking place, although the applicant has reported so. Criterion 7 - Availability of resources (including health manpower, management personnel, and funds for capital and o_ncratinc needs) for the provision of the proposed ser,_..'Z� ._I..- v of alternative uses of such resources for the provision of other health services M Applicant Data: Position Number Projected Classifi- F.T.E. Annual Current New Recruited Contracted cation* Recuired Salary Staff Staff Locally Staff Director 1 25,000 N/A X X N/A Asst. Dir. 1 18.000 " " " Office Supp. 2_ 8-12,000 11 Clerks/Recept 3 6-8,000 Ad�._fss/uisch 3 8,000 If ^ ■ r Dept. Heads 4 14-18,000 ^ ■ r • PT ZhpT— 3— 14 O n u _ r ^ OT(OTP' 1Z ,y�n30 Asst PT 6— 9,000 u u r r Asst OT 6 —3— 9,000 Re-h ab- -A T e I 6 , 4 O / —�— Activities Aide 6 6,400 " ■ ^ Speech Therap 1 11 000 r Soc'l l,'rkr 3 10,500 ^ ■ ■ ' 1 1 2— 12 ,_UOO —�— —R— --II— --a -- LPN_14 9,000 ^ ■ ■ r Aides 85 —6_,200 Unit_ Sec. 16 6,800 ^ ■ ■ ■ Lab Tech 1 I 10,500 r ■ r Hskpg _3 8,600 ^ ■ ■ ■ HskP9 3 8,000 r „ r Aide 20 6,200 ■ ■ ■ ■ Central Supp 1 10,500 ■ r r p armaci st --1 Dietary. Aides 2 6,200 ■ ■ . ■ kedical Dfr.3— 15,000 ^ r « r Dentist .25 5,000 ■ ■ ■ ■ apt-IlolnloTog. .15 3,000 ■ r M r Hcariec_10 1,000 M 1 t Salaries as of 5/79 - will increase annually as area index rises. Project No. 0532 STAFF COMENT Given the list of services the applicant proposes to provide (see Summary of the Application) it appears to staff that the following positions should be added to the above list, either as contracted staff or new staff: 1. Psychiatrist or Psychologist ' 2. Podiatrist 3. X-ray technician 4. Nutritionist The applicant will have to comply with all staffing requirements under FAC a - Chapter 1OD-29 in order to be licensed as a nursing home. Criterion 8 - The relationship of the proposed health services to ancillary or support services s— The applicant states: Support and ancillary services will be either supplied in-house or by contract with adjacent acute care facilities. Hospital based services at Jackson, VA and Cedars of Lebanon are within four blocks in easy access. Other specialty services are available from Bascom T, Palmer and kidney Dialysis are within easy access and within four blocks. Conversations are in process with the Jackson Hospital, Cedars of Lebanon, Iwo- which may lead to a form of relationship. _WP1— STAFF CUT -LENT As stated in Criterion 6, no documentation has been provided by the applicant of referral agreements, even though the applicant has expressed that conversations are in process. Criterion 9 - The srecial nce3s and circ,_nstances of those entities which provide a substantial rortion of their services or resources, or both, to individuals not residing in the health service areas in which the entities are located or in adjacent health_ ervices areas. Su_h entities may_inclu3e medical and other health professi D..a clinics, and centers for specialized services such as ocen heart surc.=ry, raaiation therapy and renal transplantation. Not applicable. Criterion 10 - The sre_cial needs and circiLmstances of health maintenance organiza- tions for which assistance may be provided under Title XIII of the Act. Not applicable. Criterion 11 - The special needs and circumstances of biomedical and behavioral research_projects H,hich are designed to meet a national need and for which local conditions offer svecial a4vantages. (FAC Ch. 10-5.11 (11) Not applicable. 1 15 -Fi.:t-T*'3 %0*'. 44- Project No. 0532 Criterion 12 — Construction Projects: "The costs and methods of the proposed construction including the costs and methods of energy provisions and the probable impact of the construction project proposed on the cost of providing health services by the person proposing the project." The applicant states: Estimated project costs: (1) Pre -development costs (a) Feasibility Total Bldg. Nursing Facility studies S 10,000 3,700 (b) Surveys $ 11500 555 (c) Legal fees S 13,500 4,995 (d) Other (identify) (taxes) $ 15,000 5,550 Sub -total pre -development costs S 40,000 14,800 (2) Building and construction costs: (a) Interest (during construction) $850,282 314,604 (b) Temporary relocation expenses $ N/A N/A (e) r-IC-vr'UII;IIy rxNeii5e5 $ 54,000 19,980 (d) Other consulting fees (e.g., environmental impact, acoustical, specialty spaces like radiation therapy rooms, etc.). Please detail. FHA Insp. Financing Points $464,568 171,890 S Working C tal (FHA spec.) $142,839 269,058 Insurance, taxes, bonds S 74,000 27,380 (e) Land acquisition and site development $1,337,321 494,809 (f) Soil survey and investigation $ 5,211 1,928 (g) Architect and engineering fees $314,214 116,259 (h) Supervision (owner's cost allowance S 40,000 14,800 (i) Contingency: Construction, @ 1.3% change order inflation factor X 8 $778,000 287,860 (J) Labor and materials, less (g) $7,000,000- 2,590.000 Ell Project No. 0532 total Bldg. Nursing Facility (k) Other (identify) Construction overhead ; 75,600 27,972 Builder profit 5% l 371,280 137,374 Sub -total of building and construction costs S]1.505.715 4,473,914 (3) Equipment costs (list by item) s . See Table $3 $ S Sub -total of equipment costs $1,106,870 415,042 (4) Total costs (sum of (1), (2), and (3). Total Building: $12,654,185 Nursing Facility: 4,983,756 Architect and Contractors fees will be as per standard FHA allowances "Amounts not pro-rata due different require -eats for working capital. TABLE 3 E ui,-.-2nt List Patient P.ccm Furnishinas (Hospital beds, titles, bedside cabinets, lou —_e chairs. lounge chairs, laps) Offices Lobby and Lounge Furniture Dietary Equip-.ent (carts, etc.) Dining Room Furniture Physical Therapy Equipment Occupational Therapy Examing Rooms Miscellaneous Maintenance Total Equipment 17 . s tV , 46 �f Total Building Allocation Cost Nursing Facile $ 894,920 $412,920 26,000 9,620 21,700 8.029 71,500 26,455 18,750 6,938 26,000 9.620 23,500 4,995 18,000 6,660 15.000 5,550 $1,106,870 $495,042 w Project No. 0532 TABLE 4 Floor Area (square feet) and Costs New New Construction Construction (Area) (Area) 3-Floors Patient Care 47,685 sq/ft E 4,329,S60 Ancillary Share Services first floor Administration and Other Total Facility (Gross) 5,325 sq/ft $ 483,483 1,880 sq/ft $ 170,713 54,890 sq/ft $ 4,983,756 OR $17,305/Bed. Cost per Square Foot $ 90.80 sq/ft $ 90.80 sq/ft $ 90.80 sa/ft $ 90.80 sq/ft TABLE 5 Beds and Charges Total at Conclusion Private Po0'ns* Semi -private Poons* Service of Project ,,.-cer Charge 'limber Charge SNiC 144 24 S.494S 120 $49-60 ICF 144 24 35-60 120 35-55 * Rates charred are based on actual anount of nursing care required. - - The City of Miami Planning De art -meat has reviewed the preliminary proposal. The proMsed use of --he site for a nursing home and related health facilities is consistent wit.': t_'e overall reievelopmernt strategy for the area. The City Planning DeY__tnent will s-.::crt anplicatic.n for zoning modifications to the site for the before : :tioned uses. Staff has concerns c.,er some of t-he project costs. The contingency Change Order Inflation Factor appears to be too low: Contingency: $287,860 $ 315,832 = 7$ Construction $4,473,914 (Building and construction Overhead: 27,972 costs) $315,832 18 I Project No. 0532 The applicant estimated the contingency factor over an 8 month period. Given the fact that the applicant has estimated 17 months for construction, it is more realistic to assume that the contingency factor will be between 17 and 25 percent. The estimates provided by the applicant for architectural and engineering fees are standard and required by FHA. The other estimates have not been documented. - - The cost per bed of $17,305 is reasonable. Other nursing homes in the area vary between $15,000 and $20,000. Even so, staff is concerned that the contingency factor is too low and a cost overrun may be incurred. Staff recormends that were a cost overrun to occur, the project be re -reviewed for financial feasibility. Criterion 13 - Probably impact of construction project on the cost of providing ` health services by the applicant _ Not applicable. Criterion 14 - The contribution of the proposed new institutional health services meeting the heal;h related needs of minorities, women and handicapped individuals _ Not applicable. E 19 - .r. . - 7L-. OWi . -i 1 r A 'i• SELECTED CHRONIC_ CONDITIONS CAUSING LIMITATION OF ACTIVITY AND MOBILITY AMONG THE ELDERLY DADE COUNy sY 1974 Condition Number Percentl Diabetes 2,350 3.1% Heart Conditions 8,187 10.8% Cerebrovascular Disease (Stroke) 1,743 2.3% Hypertension, without heart involvement 2,350 3.1% Emphysema 1,516 2.0% Arthritis or Rheumatism 8,035 10.6% Vision Impair„e nts 3,411 4.5% Hearing Impairments 758 1.0% Paralysis, Complete or Partial 1,289 1.7% Irpairment of Back or Spine 19137 1.5% Iripairiment of Lower Extremities and Hips 2,123 2.8% l/ 65 years and over 1974 es t� t"1 380 J Tie absence of a total is a result of the possibility of individuals suffering from multiple conditions. Source: 1974 Health Interview Survey, National Center for Health Statistics; Gladstone Associates. r 0o ► + rri t , i V w W r1 I Health Systems Agency of South Florida, Inc. Project No. 0532 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 REVIEW COMMITTEE REPORT APPLICANT: D. A. Mitchell Associates TITLE OF PROJECT: Jackson Towers Nursing Home A. COMMITTEE RESPONSE TO REVIEW CRITERIA �— The Committee reviewed the analysis of the review criteria as presented in the staff report and the analysis was accepted with the following exceptions: i None. B. PUBLIC HEARING ._ See attached Public Hearing Record .� C. THE REVIEW COMMITTEE RECOMMENDS That the proposed capital expenditure of $ 5,7931056 for a 288 bed nursing home is in compliance with appropriate adopted plans, standards and criteria �- and recommends to the Board of Directors of the Health Systems Agency of South Florida that a Certificate of Need be issued for the project in its entirety for the following portions of the project. D. STArF FINDINGS 1. The existing nursing homes providing services to the same geographic area and target population are being utilized in an efficient and appropriate manner and the addition of the proposed nursing home or appropriate in maintaining efficiency in the existing facilities. 2. The capital and operating costs can be met without adverse impact on patient charges in other similar facilities in the same geographic area. The proposed project can be carried out in an efficient manner, is financially feasible and will contribute to cost containment. The proposed nursing home is appropriate with respect to the plans and programs of* the agency, including the HSA/AIP, and with other applicable local, State and regional plans, law and regulations. 3. Alternatives to the nursing home have been analyzed in terms of cost, efficiency and appropriateness, and it has been found that superior alternatives do not exist and the development of these is not practicable. N4. Patients will experience serious problems in obtaining health care of the type proposed with respect to availability, accessibility, cost and quality, if the proposed nursing home is not approved. 1 CON Project No. 0532 HEALTH SYSTEMS AGENCY OF SOUTH FLORIDA, INC. 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 w 305/573-0220 REPORT OF AGENCY ACTION APPLICATION FOR CERTIFICATE OF NEED PROJECT DESCRIPTION 1. Applicant: D. A. Mitchell Associates 2. Project: Jackson Towers Nursing Home 3. Proposed Service Area: Dade County 4. Total Capital Expenditure: $ 4,983,756 5. Project proposes new health services for inpatients? X Yes No 6. Properly advertised public hearing on application was held at 4:25 p.m. April 8, 1980 at 3050 Biscayne Boulevard, Miami. Recommendation (s) of the Agency Project Review Committee. Date of Committee meeting and public hearing April 8, 1980 1. Recommendation That the proposed capital expenditure of'$5,793,056 for a 288 bed nursing home is in compliance with appropriated adopted plans, standards and criteria and recommends to the Board of Directors of the Health Systems Agency of South Florida that a Certificate of Need be issued for the project in its entirety. i A! to the Office of Community Medical Facilities that a Certificate of Need in the amount of $5,793,056 be issued for the project in its entirety. 2. Staff Findings A. The existing nursing homes providing services to the same geographic area and target population are being utilized in an efficient and appropriate manner and the addition of the proposed nursing home is appropriate in maintaining efficiency in the existing facilities. B. The capital and operating costs can be met without adverse impact on patient charges in other similar facilities in the same geopraphic area. The proposed project can be carried out in an efficient manner, is financially feasible and will contribute to cost containment. The proposed nursing home is appropriate with respect to the plans and programs of the agency, including the HSP/AIP, and with other applicable local, State and regional plans, laws and regulations. C. Alternatives to the nursing home have been analyzed in terms of cost, efficiency and appropriateness, and it has been found that superior alternatives do not exist and the development of these is not practicable, D. Patients will experience serious problems in obtaining health care of the type proposed with respect to availability, accessibility, cost and quality, if the proposed nursing home is not approved. E. Conformance with.review consideration 1. Is the proposed project consistent with needs reflected in the Health Systems Plan (HSP), Annual Implementation Plan (AIP), State Medical Facilities Plan (SMF), includ- ing the extenuating and mitigating circumstances which may be considered and as defined in the SMFP, adopted pursuant to Titles XV and XVI of the Public Health Ser- vices Act and other applicable plans, standards and criteria? Yes. See Staff Report, Criterion 1. 2. Has the applicant described the relationship of health services proposed to the long-term development plan of the entity providing or proposing such health services? Yes. See Staff Report, Criterion 2 3. Has the applicant documented the need that the popula- tion served or to be served has for such proposed health services? Yes. See Staff Report, Criterion 3 f • MA '.�►f., -. ♦. P .4 0 s � . 7 u. � . r �•� � � �� � �' '"� _ � :A Con Project No. 0532 12.. Construction Projects: a. Are the methods and costs, including methods and costs of energy provision, of the construction involved in this project consistent with the methods and costs of others, like construction within the proposed area of this project? Yes. See Staff Report, Criterion 12 b. Are alternative, less costly, or more effective methods of construction available? No. See Staff Report, Criterion 12 13. Does the project adequately provide for meeting the health related needs of minorities, women, and handicapped? Yes. See Staff Report, Criterion 3 14. Does this project propose new health services for inpatients? _ X Yes No If so, findings in a;b, c, d, e, and f below must be documented in writing (Section 381.494 (b) (c), Florida Statutes). a. Are there less costly, more efficient, or more appropriate — alternatives to such proposed new health services to in- patients available and has the development of such alternatives been tudied and found not practicable? No. See Staff Report, Criterion 4 b. Are existing inpatient facilities providing inpatient services similar to those proposed by this project, within the proposed service area, being used in an appropriate and efficient manner? Yes. See Staff Report, Criterion 3 c. Will the total cost of the project impact on the charges for services which will be provided by the applicant or like services provided by others? No. See Staff Report, Criterion 5 and 12 d. In cases of new construction, have alternatives to such new construction (such as modernization or expansion of existing facilities or shared services arrangements) been considered and implemented to the maximun extent practicable? Yes. See Staff Report, Criterion 12 -5- a- 1. Public Hearing Record 2. Newspaper clipping for proof that review proceeding was advertised. 3. Board of Directors/Executive Committee Minutes will be forwarded �. when approved. -= 4. Project Review Committee Report. Project Review Committee Minutes will be forwarded when approved. _— 5. Staff Analysis 1. Administrator, Office of Community Medical Facilities Department of Health & Rehabilitative Services 1323 Winewood Boulevard Tallahassee, FL 32301 2. The Applicant - D. A. Mitchell Associates -7- M ter• • - - --- Awi ft�-W . - '7F-V-! IMF-. IWAP 1 -1 1 .. Health Systems Agency of South Florida, Inc. Project No. 0532 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 PUBLIC HEARING RECORD APPLICANT: D.A. Mitchell Associates .4 TITLE OF PROJECT: Jackson Towers Nursing Home TYPE OF REVIEW: Certificate of Need 1. Public Hearing declared in Session at 4:25 p.m. (time) April 8, 1980 (date) 2. Purpose of Hearing: Project Review 3. Applicant presentation by: Donald Mitchell 4. Staff Analysis and Recommendation by: Maria A. Alonso-Martinez S. Oral or Written Comments from Interested Person(s): Dr. Abrahan Eal}zer, American Heart Association, and Dr. Juan Tarajano, District XI, DHRS, spoke in favor of the application, because of the need for nursing home beds for the Medicaid population. 6. Close Public Hearing at 4:43 p.m.(time). 7. A tape recording of the Review Committee meeting is maintained by the agency. 8. Those persons who registered their attendance at the public hearing are listed on the reverse. NOTE: At any time, the Hearing Officer conducting the hearing may establish time limits for presentation, comments and questions. Please request each speaker to state his full name prior to making his remarks. Judge Robert Newman HEARING OFFICER 1.'%\'�i •' .. �'y,.•\.. ..� ate: .. _.l• ,. i Y. `e dl Health Systems Agency of South Florida, Inc. Project No. 0532 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 REVIEW COMtITTEE REPORT APPLICANT: D. A. Mitchell Associates TITLE OF PROJECT: Jackson Towers Nursing Home _ A. COMMITTEE RESPONSE TO REVIEW CRITERIA The Committee reviewed the analysis of the review criteria as presented in the staff report and the analysis was accepted with the following exceptions: i �- None. B. PUBLIC iiEARING See attached Public Hearing Record - C. THE REVIEW COMMITTEE RECOINVENDS That the proposed capital expenditure of $ 5,793,056 for a 288 bed nursing home is in compliance with appropriate adopted plans, standards and criteria IMP- and recommends to the Board of Directors of the Health Systems Agency of South Florida that a Certificate of Need be issued for the project in its entirety for the following portions of the project. D. STArF FINDINGS 1. The existing nursing homes providing services to the same geographic area and target population are being utilized in an efficient and appropriate manner and the addition of the proposed nursing home or appropriate in maintaining efficiency in the existing facilities. 2. The capital and operating costs can be met without adverse impact on patient charges in other similar facilities in the same geographic area. The proposed project can be carried out in an efficient manner, is financially feasible and will contribute to cost containment. The proposed nursing home is appropriate with respect to the plans and programs of•the agency, including the HSA/AIP, and with other applicable local, State and regional plans, law and regulations. 3. Alternatives to the nursing home have been analyzed in terms of cost, efficiency and appropriateness, and it has been found that superior alternatives do not exist and the development of these is not practicable. ' 4. Patients will experience serious problems in obtaining health care of the type proposed with respect to availability, accessibility, cost ' and quality, if the proposed nursing home is not approved. %t, Ir!• � fV -11 .sue °' - ! t T �:Ja. CON Project No.0532 HEALTH SYSTEMS AGENCY OF SOUTH FLORIDA, INC. 3050 Biscayne Boulevard, Suite 600 — - Miami, Florida 33137 305/573-0220 REPORT OF AGENCY ACTION APPLICATION FOR CERTIFICATE OF NEED PROJECT DESCRIPTION 1. Applicant: D. A. Mitchell Associates 2. Project: Jackson Towers Nursing Home 3. Proposed Service Area: Dade County 4. Total Capital Expenditure: $ 4,983,756 5. Project proposes new health services for inpatients? X Yes No T 6. Properly advertised public hearing on application was held at 4:25 p.m. April 8, 1980 at 3050 Biscayne Boulevard, Miami. Recommendation (s) of the Agency Project Review Committee. Date of Co nmittee meeting and public hearing April 8. 1980 1. Recommendation That the proposed capital expenditure of $5,793,056 for a 288 bed nursing home is in compliance with appropriated adopted plans, standards and criteria and recommends to the Board of Directors of the Health Systems Agency of South Florida that a Certificate of Need be issued for the project in its entirety. I WPMkl"-" L to the Office of Community Medical Facilities that a Certificate of Need in the amount of $5,793,056 be issued for the project in its entirety. 2. Staff Findings A. The existing nursing homes providing services to the same geographic area and target population are being utilized in an efficient and appropriate manner and the addition of the proposed nursing home is appropriate in maintaining efficiency in the existing facilities. B. The capital and operating costs can be met without adverse impact on patient charges in other similar facilities in the same geopraphic area. The proposed project can be carried out in an efficient manner, is financially feasible and will contribute to cost containment. The proposed nursing home is appropriate with respect to the plans and programs of the agency, including the HSP/AIP, and with other applicable local, State and regional plans, laws and regulations. C. Alternatives to the nursing home have been analyzed in terms of cost, efficiency and appropriateness, and it has been found that superior alternatives do not exist and the development of these is not practicable, D. Patients will experience serious problems in obtaining health care of the type proposed with respect to availability, accessibility, cost and quality, if the proposed nursing home is not approved. E. Conformance with.revie►'1 consideration 1. Is the proposed project consistent with needs reflected in the Health Systems Plan (HSP), Annual Implementation Plan (AIP), State Medical Facilities Plan (SMF), includ- ing the extenuating and mitigating circumstances which may be considered and as defined in the SMFP, adopted pursuant to Titles XV and XVI of the Public Health Ser- vices Act and other applicable plans, standards and criteria? Yes. See Staff Report, Criterion 1 2. Has the applicant described the relationship of health services proposed to the long-term development plan of the entity providing or proposing such health services? Yes. See Staff Report, Criterion 2 3. Has the applicant documented the need that the popula- tion served or to be served has for such proposed health services? Yes. See Staff Report, Criterion 3 -3- rFW r 6 !' 1.*`. ,.,. 9. fe, - �f, r•i * � r Con Project No. 0532 12.. Construction Projects: a. Are the methods and costs, including methods and costs of energy provision, of the construction involved in this project consistent with the methods and costs of others, like construction within the proposed area of this project? Yes. See Staff Report, Criterion 12 b. Are alternative, less costly, or more effective methods of construction available? No. See Staff Report, Criterion 12 13. Does the project adequately provide for meeting the health related needs of minorities, women, and handicapped? Yes. See Staff Report, Criterion 3 14. Does this project propose new health services for inpatients? X Yes No If so, findings in a, b, c, d, e, and f below must be documented in writing (Section 381.494 (b) (c), Florida Statutes). a. Are there less costly, more efficient, or more appropriate alternatives to such proposed new health services to in- patients available and has the development of such alternatives been -tudied and found not practicable? No. See Staff Report, Criterion 4 b. Are existing inpatient facilities providing inpatient services similar to those proposed by this project, within the proposed service area, being used in an appropriate and efficient manner? Yes. See Staff Report, Criterion 3 c. Will the total cost of the project impact on the charges for services which will be provided by the applicant or like services provided by others? No. See Staff Report, Criterion 5 and 12 d. In cases of new construction, have alternatives to such new construction (such as modernization or expansion of existing facilities or shared services arrangements) been considered and implemented to the maximun extent practicable? Yes. See Staff Report, Criterion 12 MM I Attachments 1. Public Hearing Record 2. Newspaper clipping for proof that review proceeding was advertised. 3. Board of Directors/Executive Committee Minutes will be forwarded when approved. 4. Project Review Committee Report. Project Review Committee Minutes will be forwarded when approved. 5. Staff Analysis n4e+.+iE'.+4-- 1. Administrator, Office of Community Medical Facilities Department of Health & Rehabilitative Services 1323 Winewood Boulevard Tallahassee, FL 32301 2. The Applicant - D. A. Mitchell Associates 1 ot . 66 .a•� ��1. �'1 ~ Health Systems Agency of South Florida, Inc. 3050 Biscayne Boulevard, Suite 600 Miami, Florida 33137 (305) 573-0220 PUBLIC HEARING RECORD APPLICANT: D.A. Mitchell Associates TITLE OF PROJECT: Jackson Towers Nursing Home TYPE OF REVIEW: Certificate of Need Project No. 0532 1. Public Hearing declared in Session at 4:25 p.m. (time)_April 8� 1980 (date) 2. Purpose of Hearing: Project Review 3. Applicant presentation by: Donald Mitchell 4. Staff Analysis and Recommendation by: Maria A. Alonso-Martinez 5. Oral or Written Comments from Interested Person(s): Dr. Abraham calker, American Heart Association, and Dr. Juan Tarajano, District XI, DHRS, spoke in favor of the application, because of the need for nursing home beds for the Medicaid population. 6. Close Public Hearing at 4:43__p.m•(time)I 7. A tape recording of the Review Committee meeting is maintained by the agency. G. Those persons who registered their attendance at the public hearing are listed on the reverse. NOTE: At any time, the Hearing Officer conducting the hearing may establish time limits for presentation, comments and questions. Please request each speaker to state his full name prior to making his remarks. e Judge _Robert _Newman HEARI14G OFFICER M I.' VIP " •� � _ `!� �. ;,t► . -lam' •i 1 BAL HARBOUR HIAL GARDEN -,t v r5C YNE i_ G PARX INDIA .r•» CREE SURFSIDE VILLA E Tr H f f -AR NORTH BAY VILLAGE - I ►'VIRE o a" ,.�QARDEM j MIAMI CH .. :• ...... 1. '. .f y J; ' # ` `U vv'SfIl MIAMI C lit RY t r Sri11H - k. -- -- - - --- - - -- - -� Prepared for: CITY OF MIAMI PLANNING DEPARTMENT �'�u_.• Prepared by: Hammer, Siler, George Associates Wallace, McHarg, Roberts and Todd � , 4 All SO i 7 r i i I 4 � .�� �• . f ,• '•y /F,,•-((Qr VOW I , �r �y �'�'j'{ram'#�,�f,7y� .� 111III ! ..' 11• • . • V. • 1 I7 L ►. 1 NJ, alp!�v r t MIAMI•DADE COMMUNITY COLLEGE CITY WATER & SEWER/ SERVICE YARD JACKSON MEMORIAL/ I U. OF MIAMI MEDICAL CENTER RAPID TRANSIT CIVIC CENTER '- TRANSIT STATION PAP. PP- CANCER INSTITUTE IP GOVERNMENT OFFICES I IM 4- M If /ti tf, r.l • L! EXISTING AND PROPOSED ACTIVITIES o f l l l l IsW DADECOUNTY VOCATIONAL TRAINING CENTER ELDERLY RESIDENTIAL PROPOSED PARKING GARAGE HIGHLAND HOSPITAL BLOOD BANK PARKINSON'S RESEARCH CENTER PROPOSED 9TH AVENUE BY-PASS CULMER TRANSIT STAT• 7N 2d�1c�C� Introduction. The City of Miami, Dade County, the Public Health Studv and the Pniversity Of Miami School of Medicine have jointly funded a study of the problems and development opportunities for what is classified as the Secondary Development Area (SDA) of the Civic Center. This is the area not encumbered with public and institutional uses bounded by NW 17th Avenue on the west, `I<: 20th Street on the north, NW 7th Avenue and I-95 on the east, and the Miami liver on the south. Within this one square mile area there has been extensive public and institutional expansion and redevelopment during the last ten years. The Civic Center Area employing approximately 22,000 people and attracting 25,000 visitors daily, has generated only minimal private sector development. In order to ascertain the potential for new private and joint private -public development opportunities the economic consulting firm of Hammer, Siler, reorge Associates of Washington D.C. was retained. Flements of the oxtensive analysis undertaken by the consultant and the City of Miami Planning Department include: analvsis of existing land values; analysis of economic trends in the study area; market analysis for ancillary uses; identification and evaluation of potential redevelopment sites; site development program, concoct, financial analysis and project packaging for designated redevelopment site-,,and;the im- pact of these projects on the local ecnnomy. A technical review committee was established to mnnitor and provide direction to the consultants during the preraraticn of this study. This committee was composed of representatives of funding, arencier. The following summary highlights the major findings and recommendations of the study: 10 M k -1- ^a i i� }T� � A �tt3 N.W. N.W. W N (` N f` � Z 28 ST FIT 0 1 1 23 ST -i L L L 7' yt`_��if��ilfE �fil�itt! fff�'� N.W. I I • IIIII I 0 750 1500 CITY OF MIAMI PLANNING OHPAPTMF3NT -?- � i 2frjq :4� �. A ilk v ��"'••r �' w1iW-� M5", I. MARKET ANALYSIS A market analysis was undertaken for the purpose of determine_ the land use program which might serve as the redevelopment impetus for revitalizing a large area of ;Miami surrounding the Civic Center complex. The Civic Center complex is a large concentration of health and government related organ- izations and functions. The "Civic Center Secondary Development Area" 1/ under study surrounds the medical and government facilities and extends from NW 17th Avenue on the west to NW 7th Avenue on the east, and from NW 20th Street on the north to the Miami River on tho south. Existing housing and commercial land use activities in the study area are very undeveloped in terms of complement- ing the strong and growing core of health and government related institu- tional functions. The study area has a number of environmental problems which attract from the normal working of economic growth. Conflicting or non -compatible land uses are juxtaposed. Crime and security are problems. Transportation corridors serve as barriers between related activities. Institutional land uses are continually developed on land originally used for housing and little of the removed housing,, inventory is replaced, thus depicting the housing stock at an increasing pace. Existing environmental and physical conditions in the study area must be corrected if successful redevelopment of the area to higher land use is to occur. The analysis of future land use opportunities which are available to strong sites within the study area is based upon evaluation of local. market and 1/ Used interchangeably with "Civic Center Study Area." -3- Aft- nl _ r ��II J I economic trends bearing upon and affecting the study area, as well as the results of special surveys l/ conducted by the City among employees, doc- tors, residents, and visitors associated in one way or another with the study area and/or its institutional facilities. Although approximately 21,500 persons work in the study area and total visitation to the area may approach 25,000 daily, surprisingly little in- terest in new housing, hotel or commercial facilities for the area was expressed by these "natural" market sources. Doctors expressed little in- terest in medical office space. Only residents expressed strong interest in development of the area -- mostly reflected in retail commercial needs. The results of the market analysis are summarized in the following tables: The highlights of the survey results are summarized in a special docu- ment entitled "Summary Questionnaire Surveys --Civic Center Secondary Development Area." !'�t �•af•�rr�sj ME49 Medical Offices General Tenant Office B. SUHMARY OF OFFICE SPACE DEVELOPMENT OPPORTUNITIES IN THE CIVIC CENT11EIR STUDY AREA 1980-1981 1982-1983 1984-1985 53,55 square feet, Possible second build Open including support ing of 50,000 square commercial feet, depending on Cedar of Lebanon project. 1980-1981 1982-1983 1984-1985 90,000 Square Feet -- Possible second build- ing of approx- imately 100,000 square feet 1/ l/ Assuming that the planned Cedar of Lebanon project does not include general tenants. C. SU,LNIARY OF RETAIL DEVELOPMENT OPPORTUNITIES IN THE CIVIC STUDY AREA (Cumulative Gross Square Feet) 1980-1981 1982-1983 1984-1985 Retail/Service Clusters... 40,000 10,000 40,000 Eating and Drinking Facilities... 30,000 Neighborhood Shopping Center... -- Total 20,000 90,000 -5- ems.. 30,000 Total 90,000 80,000 90,000 260,000 �i�'4! 3• ` �i _V IL 5 it _4 4w_� ARMS owl .0 I awl: z in 1 SITE A- MIXED USE SITE G -RESIDENTIAL Medical Office Low Rise Commercial Surface Parking Residerilwl Low Rise Mid Rise SITE C -NEIGHBORHOOD SERVICE COMMERCIAL Service Commercial N Restaurant & Office Surface Parking SITE F MIXED USE Conyertience Commercial Structured Parking Resid%ptCal LOW Rise Fix.. cMid Rise Surface Parking 4? f4w A 6:� CIVIC CENTER DEVELOPMENT PROJECTS PREPARED B) HAMMER, SILER, GEORGE ASSOCIATES AN WALLACE McHARG ROBERTS & TOC III ECONOMIC IMPACT The four development opportunity projects identified represent a mixture of private and public assistance efforts at strategic locations throughout the overall study area. Mien executed, these projects should have a catalytic effect of improving the environmental image of the studv area and thus serve to spur market interest and additional private investment. In total, the four development opportunities represent an initial combined private and public investment in the Civic Center Secnndary area ranging from a low of approximately 528.0 million to as high as 531.0 million (1978 dolalrs). About one-third of the investment will he public funds. These projects represent only the beginning of investment potential. As other projects are implemented and the Civic. Center Secondary Area is redeveloped in ensuing years, many millions of additional dollars will he expended. As development accelerates the proportion of ptiblic investment to private in- vestment will decrease because of the continually improving Private invest- ment climate. Besides capital, the redevelopment of tale Civic Center Secondary Area will provide a number of direct benefits to the community. The nature of direct benefits that will be derived frO,the folir development opportunities can be estimated and these are characterised and summarized as follows. Employment The developments will provide niimernus job opportunities for Miami area residents. First, the construction of the various projects will require a time period ranging up to about 24_mpnths. The construction timetable for each project provides opportunities for numberous construction jobs, includ- ing various type laborers, carpenters, electricians, plumbers and others. cr5•r A4 ,t. i7T RA -16- 4L - . - Upon opening, the retail and office facilities will provide a variety of Permanent jobs, including professional, managerial, clerical, sales, custodial and others. The number of such permanent jobs are estimated to be approximately 3771 In addition, the rental residential complexes will generate administrative/ managerial, maintenance/custodial and other positions. The condnminitims would generate some similar positions. The residential development, with 450 units, will generate 18 to 25 full-time jobs plus some additional part-time Jobs. In total, between 305-402 full-time jobs will be generated by the four early development complexes. Taxes Two major types of reven,ie to he generated by the initial development projects are property and sales The total real estate t.i*.,r s 9,onerated by the initial projects ranges from S2f,T4725 to,'%3.38,,_°`cl. The tax revenues reflect 1978 dollars. Future tax revenues penorated b}• tbo.,;e initial projects will rise if future tax rates increase. Estimated sales tax revenues generated by the three commercial projects pro- posed is approximately S356)000 based on total sales of $8,900,0000. Ir��3et on Local- Rusinesses The businesses currently located in the Civic Center Secondary Area reflect differing degrees of Gales success and profitability. As was ascertained in the market studv residents of the study area generally find existing stores and businesses to he inadequate to fulfill their needs. This inadequacy stems from a combination of physical app(,nranre, limited store sizes and merchan- dise display areas, lower quality merchandise, and similar factors. It is reasonable to predict that an improved physical environment of the area, with new stores and residences, will create additional business -17- •�3l. .v. Lt i1► .i ,1 dl ' r 1♦ � � hl `•, ♦' � �-�� � 's�-�� •`��+� why..• l J �J"'r1 r opportunities that could he capitalized upon by existing businesses that respond to the new huv;inessc•, by upgrading their operations to better serve the changing market. The extent of these opportunities that will be captured by existing, businesses will be directly tied to management decisions and com- petitive aggressiveness. Nevertheless, given an improved marketplace in- frastructure, upgraded businesses in the Civic Center Secondary Area could expect to be competitive for sales levels commensurate with acceptable re- tail operating standards. In terms of current standards, aggressive and up- graded businesses should be ;able to obtain sales levels on the order of $85-$135 per square foot depending on the type of operation, the intensity of sales floor area, the business location, and similar factors. These sales levels are considerably higher than presently indicated sales per square foot levels, at least for most existing businesses. Impact on Transit Ridership In early 1979 local planning estimates are that, upon completion some years hence, a moderate number of passengers will utilize the two rapid transit ._ 1 - t -- stations planned in the Civic Center Secondary Area. One station, to be located on NW 12th Avenue, will be centrally located to serve Jackson Memorial, Cedars of Labanon and the V.A. hospitals. It is estimated that it will produce 6,000 transit users a day. The second station will be located alum; W llth Street at N1W 7th Court. It will be in proximity to higher density housing, including Culmer Village and a large public housing project. It is estimated that it will. produce 8,400 transit users a day. None of the four initial development opportunities are in close proximity to this station and, hence, ridership will not be noticeably impacted by the new developments. -18- i r opportunities that could be capitalized upon by existing businesses that respond to the new businesses by upgrading their operations to better serve the changing market. The extent of these opportunities that will be captured by existing businesses will be directly tied to management decisions and com- petitive aggressiveness. Nevertheless, given an improved marketplace in- frastructure, upgraded buiinesses in the Civic Center Secondary Area could expect to be competitive for sales levels commensurate with acceptable re- tail operating standards. In terms of current standards, aggressive and up- graded businesses should be able to obtain sales levels on the order of $85-$135 per square foot depending on the type of operation, the intensity of sales floor area, the business location, and similar factors. These sales levels are considerably higher than presently indicated sales per square foot levels, at least for most existing businesses. Impact on Transit Ridership In early 1979 local planning estimates are that, upon completion some years hence, a moderate number of passengers will utilize the two rapid transit stations planned in the Civic Center Secondary Area. One station, to be located on N11" 11th Avenue, will be centrally located 10 to serve Jackson Memorial, Cedars of Labanon and the V.A. hospitals. It is estimated that it will produce 6,000 transit users a day. The second station will be located along; tit.. 11th Street at NW 7th Court. It will be in proximity to higher density housing, including Culmer Village and a large public housing project. It is estimated that it will produce 8,400 transit users a day. None of the four initial development opportunities are in close proximity to this station and, hence, ridership will not be noticeably impacted by Nthe new developments. 1 I T _18- __ - - I - �M . 'WJM. -1 5-.. IV. PUBLIC SFCTOR 1i-TI. 'L11FNTA'I'InN STRATN Im ementation of the four development opportunities outlined above will serve as catalytic projects for encouragint private investment in a more cgmprehensive redevelopment of the Civic Center Secondary Area. In order o move these and subsequent projects into private ilapl_ertentation, however, active public sector cooperation I1 coordination will be re21.t ired . There are several major public sector components which must be at the forefront of the Civic Center Secondary Area development process. These include: 1) Coordinate phy,,ical planning to ensure a redevclopiiient which is tile strongest and best possible one for the COmriunity; ?) Dcvclop priorities (within a coiaruni ty context) .fir resource nllocations at the local level, including Section S and other assisted how. -,in,;, financial and dovelopiiient tools (t1DAG, Title 9, FPA funds, etc), and others, to f;icilitate the development fro� i) "Initiato" he,,.yy public assistance activities such as arraw,ins; the Yr:�...'"'1•_ _Of CnUltt%'-OWnC(l 1'11nci, SCCttrlll7public iiw]lle5 for development subsidies, providing for UDAG packaging and financial analysis, etc. --- �--�--ter 4) provide technical assisuince to private sector owners/investors and developt-rs such as utili:ation of public police powers in meeting .onino specifications (or providing zoning variances), arranging; for huildin4. permit approlals, and providing; planning grant supports for certain projects and simil.ir type assistance. As an initial step the Civic Center Secondary Area Steerint, Committee should recoiarwttd necessary Luhlic actions to the Public •Pro t, the Citv and the County. These actions include t^1ivies with respect to land write doi.:ns, the use of the hospital garage facility, the use of public -19- il;Yk i monies for site improvement and infrastructure, the type of technical assistance, and other actions as outlined in the parcel development opportunity analysis. In order for the required public role to be fulfilled there is a need to provide for staff _—Qato be responsible for the Zublic sector functions. That staff will need to have those skills necessary to establish development priorities and identify development resources (a planning function); to be capable of packaging projects (financial analysis/packaging skills); and to provide for�echn;� ,sista_nce an expeditor funct' The questions arise then as to "who will make public policy decisions for that staff" and "where will the staff reside"? The formal structure or public vehicle for inplementation of projects similar to the Civic Center Secondary Area varies among communities. In some cases, a city-wide development corporation has been established to focus on the coordination of various redevelopment projects within the com-Mnity. Such examples include the Dayton City -Wide Development Corp- .- - ... oration and the Philadelphia Industrial Development Corporation. In other ca:,es, a specialized development/management entity has been established to guide a specific project through implementation. Such examples include they 1s_s Center/Inner harbor Dlanagement Corpor ition (Baltimore) and the Town Center Development Corporation (Detroit). In still other cases the staff works out of the lavor's Office for Economic Development or the Ci 's Office (as appropriate) as a part of its internal staff capability. With regard to the Civic Center Secondary Area we are persuaded that given the current stage of project effort that the early initiative should come from a small staff oneration directly tied into the City Manager's Office. Continuation of this procedure may then be re-evaluated later, -20- J.. .-�- a•�:.� u too ,:. J ' low r WA 7� r�l ,s �'I f rn i y�}. ."1 r • 11 it • ipr+y,, f;•' Y '� � ;MC- •.^ �J'� � y`�rl T y t7 � '� Li`�1 �! ,: «'#4:�(.\;,:,� !•� 1J�(�,%,.'y'y�J C ti „i+�,�yy►'�!/,�� i���i� J+ .J TC.��/' d i �r.L j •" :7 .r j ►! �'i' "i ;i� • ' ��.; All • 1 • >R' r 1 '<< ,{ r� {� ' �. �: o, f.•?1F y1!- A�r�� IrJ'S��1 � • ••Yf f' ., .. d j� • � it � �, •p}r , • 4-1 ` ((,"l"•,•. L�lir�1�, ,,,Td i' y�? Y�., Cf e�. •-'� .�'� , � :X�'%1 )�i � , � �. I a � t � •� Ip�1 ' \a�s•''.r'�l��p+�v: r'�`' Fi•'1F4 � � -f�t' '+'��. ��!f�+l�" '��7,�• ��• ,�f�'�tF4 .r �.: � '( ...rr 4,yF r �r�.s�O..R'i'i t'r ;ti ���i.N �'" y(�• 1,•i♦ �"''! i�! }, �r \!�Jdg11�•'•'�'t ';�,1 ! y ,; •.,-.�. t • I� � •fir �,,f j � , , �' ((y, �;t .� ?�•i��fy��,`'i�v� ,` •tr,-/�•�. .•'•'�, `;��, % '„%�- l' 1 71•'l�r'•fj, ,� ,� �,'��,^-•-s �Ir�,.« - . J 4tc#� + ,^ � .�n' a fffRRR+"' + � ` • �t�i�j c,�lL3 C ! }, 'i .pr 1 � -' ` /r , .' 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J .-, .. +'.{I`t•• �,�fa:��y.:.�C7�++-��,i��. c.,.y,.°���i,F�""��►����j'J` 1,r.1+�' / ��� � ,�j�r�\!� '•� 44 .(�, iris' '' •:, r (, "'at`;R ' �.'. i.. t 5G! le�^�(, 1�FI y'r j4 'Ij E`" .� ..i: �tl a�� T'+ i 4.�ai f�,;,�i'..i;�} ��- , .a. t.�I: �,�ST �; i�;3''1:•.• .i� �",� •\' "rC1' •,i` t;t p �'^�'" 4+ I •�"'•!yc .� �� � .�. e.-.� 3+''' � {?,s �;":+�, '��' ,t a�} � :� ' � ,,�C, � k tl,�, �f,• • �.rv+,K 'i,R`{f:Y •� (,�h,'�'�•�J.=!7 [��:-`"� ' r`, {�`rj,",, :���',,`y'�j=r,�+ .li�,�' 't1'r 1'{ -/ i �" �` ,!� � �'N`� ' . T'•}�' .� kc•f'�`��' �.� �.rt�.• , � ,tom k. � �'+ ,i (��j1�ij�j1�(..t'4 ^ ` tr "'�,?,��/'�' •�i ' �f��'j,'� �.�� 'r f /' ' t� � 1 � � �`• . t p { � s•F t .�%✓+! �' � i�t^,���;t�� �t� �,1. �� .r"�'y I _I � •t heylu � .�I ,• � . 4�' k•ey..,. ^f� f��j� _ � �" w Y i � � A�1.'r�', a . (r ♦ � � y . � ow x zI i' :„• j 4.r7„'F�,4•13'• •••1�!•V ter?--•..�y� , '.! > '' 1 . �+ (' , � / � _n, -.. t.. '' 'G[� �, tea.. � ,..�; •,, , y� �-. �: •, �3a, H �,, roc � . , T � � '• it � t {: •� yr, � „!��//" � /... � ♦ ► ►•r - _ ` j ti frti _ t, '�Mj ��7.iYY ► il y I. y •�1 +a VAG ~ �� � . � • � �'�t • _ !♦ 1 " y `� yam,,- , d" do anso9% Wl§ 0�����ti MIAMI CIVIC CENTER _ ^+ Yam,., •I.- r"'• AND HOSPITAL COMPLEX _�..t�_ �. ..'��Y •+Y,'-`t" �..tii -�+ •:.t`_.'•.i.�,f •;. l�l�''�--k'.�f`'�r' x. � '�C �� i °F - lls� M4.* .Y --.�,em(s• t I � k � {{.r..�j�[��:`���' f 4� .t • .Y• iaMJ3MN�1.`f1.^ yam.► �L�V?yrVk��w -• _ .•, .� ` n ��.4'7V. i- R _S .' 4' V A HOSPITAL ;,l.. �....So":..w :' *-�-•: "a' 't; y„�e'-,� ' _ PARAMEDIC CAMPUS�-�I . �. thy'+L'�M 1 - .- yr.=wi' • ..' F t+ .-,. CEDARS AFT;•Y� JACKSON HOSPITAL COMPLEX p '• .. .s1- ..-r!� ,� - • "� = '''S e +•. FF�` III - • • 1� _ ._ • C Y + ._i"'.: __ ' _ ..'� : -:�.ry • .i- �Yr` ♦ '� �^+- ►. - ::. y'�`!.'�� � •a � V • ► r • - .w.�. w. -��f - `° t � � �'�1!`+Ma�•°w_-^' -- _ �..,� - �wv � t: •�.�.�r -M.^.� �f'•r� � � .. 'M����• .w. :� r: w.- •w.�N� i��..ti �� ilj�,({iil�. '+•. r�.ad :�-.�1 CEDAR ; OF LE['•A[JON HOSPITAL '��y�/Yy1�i'�Y���•r, 4' �.'; �.•`� • rr� ;4�•R...� - Q � ' j`. h' _ '~ -a` _ _ - TI 1)1�UE OFFICES - - ---- ......�- .—. 4, ,..;4 _ -_ SITE " �.�. --__ ....- '.•' UNIV OF MIAMI MEDICAL SCH _ . ...... .. - - • 1,.,•,.w � J•� J �• - 1 � i 1� , 1r• a_ � L [ •� (-CI�1 TU17 C Li!'l4 ICC FLORIDA STATE OFFICE f;LDG "r`"r` EAST -WEST EXPRESSwaY CITY OF MIAMI OFFICES �..• '-s..e._.'.�:►�-.' f Cr IG'i 1>f' tt:ls.1 •i'B t.:.�" "� • r rs 1 Yrtcun Adm m.kabun Ha.POal +rar V A f'n►init PnArnG - - � ISlnrrrdi Nnnh BYlldipX t r da• nl I rhannn Ihv'th 1 a+a l,nl.r Lam _ Ii1111dww —1• _J South BvGdittR UNIVU 3 UITV OP NttAMt/ SON MEMORIAL MEDICAL CENTER N N ISth Saws Rw.+,MW AtV /7+n>.Y.1t El1'uhhr Ilrahh U." 1a./..nn'da•rttnnalit u.Prlal �frdrral _ t ur / rnlr, PA(t ` 19 mart Annndat,naEl - U[ � l: n,Y•r .Un.Uuatrun 1 t - 1 unaa anmtnr. tam Pn+atr ��m.anna ut Alum+ •'( rlrtnrt.alr . N mum 1 AI.Amght 1 r.wntcnfcr, Uaw um Patmr, 1 tr lU.lnulr ��••// UPI 1•`Ua..um 141mn 1 tr In>trlulc in Hrlrnnrt SrrtYt• I(MMp t S s Dadc(wnr. Z Tindal l -HOW0 .1 ;hjpf.7onjng Inspector p Ii i N'i 5' d t�+1' S4e#s ty c��,{�rrA+-s't[ Idss4, `y„ r ��'. 4 n ao...}x3,y}` .s '%'��•. T� 2.1 2, rs4f5}t��u;a�i 6E �� f c} tlt �htY�r'�7G� 3 � :.�5 tt•1;2��'3}i l+t i} {i '�,a��ur ��v zi� »� _�:G"���, -31 i'1�:y; t;•` �"ri �'-F-.Y,'>.�.�'�,e �fi;,: �; y`t�n �, i"��`+<:' a.E i. F:.4„.' �., .4, r... 9"�^'�i r" i •' fi» ,i �"�";` „n'=•:s, r i� ,, ��11;::'r+`; b, iaN - ,,:, .;- 7 ,,p...,:.,,.<..,..{.,:i,. ... ....yr:�a,:, .x;-...q �. y, i. +.,,•j �,Sy�. � -a,+ n: i��.aa,•^':,il, oo:•s,,.•.pi�.�: i�_r,. ::.i �; :}�Y:r- `�f;_Y,,�. NK.f..-,( .'!� :s...:(.;:cr;. �Ser e$?z, � .�. �' � ..� 't :�.: .d, .•a,:s-;- �,:(- .; t:� '=iN,. - - 'Af.L'. c %: ",Y.':: "I.,�iiY.T. ul.t•i' ...i.,.--.,.:„xtU.:.:,. r'.S:Y .h� 1;. r�� �'$.:i\ , �, .ni '''. fil!v `•:..,u tkY�.'e.;C., ,�lu. - , vto �; _, 4� t,, ..4t ��,',: .1. fir, '_ v f•, . e ,s. .,f. f � (lN��E rM..�: ru,�iir:r`!,�'1.C��y£'pE;.:i�"iN���"C�a;��'•f?����,»tt£i�'y"�`,wj�-l.�r.•3v='?'na i3"T`,`Jr: «��",r�^'i: m ci �„�?h •, u.;t � n � - rx �; P KF' ; s,�y�'.n{Y�.:Pga..-.- GS'„c.w5�t= ,.. .,t �-r. - - , POLICY OF TITLE INSUR "\NCE Issued by 6�ieriran AvrMUZ ( AtOfIm#1A11D o ar l?-13) -wJnsureince(?Onz ant ; A38599.3 __ 1lu• cSL�lc u� Inlr,� %1 1001411 In ht•I1-111 IS A 1I.114• uI a IY• ra — D014ALD A. MITCHELL d .. I , 4�A" /I/ i 14 �i7_7 CTAA= • , .. y a;for _,P7_qctbs and, Bounds dcr.crlptlon of ,imt portion of DlocP 20', and -the West ,i, (ark Drive Wost (now known end hercinaiter rcfcrrcd to os Nont,vrctt.6th Cc. u:1), ctn on o plot entitled "IN AI1JUD PAPV',• recorded In Plot Dcok 2, f ego l3, tha Public Records of Mdo County; rlorldo, lying northerly of the northerly ' :10ht of vrr.y line of the tort -West rxpres:woy,',Stoto flood 036, Atloml, Fle'rtdal ; —•Jng note porticulariy deccrltcd as follows; 7E07nmencing of the Northeast carnor of tho Southeost Ono Quarter of the North•, ' Uct Ono Quarter of Scctlon 3S, Township 53 South, tlon;o 41 Cart,' run South -Sa'-02" last% a disthnco of 7S1.5 feet to a point on the centerlltlo of 1'/ind- , eld,Strect (now known and hm)moftcr roferted to os Nonhwest 15th Street); WIcncn run South 870-52'28", West niong the centcrllno•of sold Northwest 13th.,• root, o dlutenco of 770.02 sect to a polntl Thence rvo "ouch io-iv 17• Cost,'r. dlotance of 20 f4to a point, said point —'Ing the Nonhcoat corner of eald block 20 as shown'dn a plot entitled iICliL N, D MKO, recotdcd In Plot book 2, P6go 13 of tho Public Accords of 'W'DaderCounty, rlorldo; said point alto being the Point of Beginning of tho portal 0Ioed*heroln doserlbed. or{told Point of beginning run South 071-52'-20" West along tho NorN'llne 0i said block 20, along tho South line of said Nonhwcst 15th Stroct, a d16tanco. 359.90 feet to the Iloithwest corner of aatd block 20;Ovi' nonce run South 26-10'55" Coot along the 1Yett lino of said Block 20' along the Tort lino of Avenuo •fl• (no%y known as and he.ron.••fter rcfcrrcd to as �onhwost h I,vcnuo), a diatanco of 42 {.04 tool to o paint. sr,id point being 29.61 fegt !. ` uIII of 1110 t;oritlwcst eornor of Lot 14 of gold block 20 ' eneo run North 60•-25'09" Coot Meng -the Northerly Right of Way lino of the s:t-1'lcst Cxprost:way. Stato Road No. 036, along a strelglt'llno passing ...rough the last mentioned point and a point on the Cast lino of sold block J0P evd point being 5.11 feet North of the Southeact eorntr of Lot 6 of said Bloclt� a distance of 315.21 feet to a point on, the cenictllno of Ptrk bravo OWest. to\-j l rown as and hercinaiter reicrred to as t;onhwest 6th Couri): ' i Thence run j:onh 2•-10'-17' West along tho said centerllno of Northwest 6lh �ourt, a d►stanco,of 23/.S0 feet toe point; - • �; PrTherco n,n'South 679-521-280•Wost, n dlstAncn eIL20 feet toga point on t*ho st lino of said B:ccg 20; I , hence rvn•t:onh 20-10'=17' wcst atona the East Imo o' said C:o•:a :0, A _P I•`; ii: jb cc: P.ui lcii.ny Ili rector 7011i rlci I 1:sn(2ct.i on F.crldi11g F i 1e W. Bra Ave. dtIr41 Czact ILOCArlom serer r00 t• c111ei- i'oniny Tns1)ector T& AL L A c Al S O /V r O W E ft U 8 0/ V 1 9 1 0 JV °rp Afflm",,Y.� •:� „.,.•..,.. r„ ,r•,•ue.r{,t„.I, r, a „r• ., r. , nr r •fy�-r_q• ,,,r,uw•Y,{•.,w.�0drft Y . -� �+•+'�M alCf�OF' 9?� fi1RlMr3k� . • r{�7F�. O/O[ Cx'irri. /,N.D� �— 1� i' b•••+s r i,.•rr r.,r Rr 1 I spa t - �,� . — — — — -- .:•....i• .... R � _ i .,��, a FL r W404 I IMEW w boo ML tit rL i` a� vk%% " I Cl • . GAF' `��[� % / � , tY -Ii 'i•.. N' •,Z =L •. ' ' 'T."_C- h. ii•1► j • : • 1 r is •e► s � \ •, . - Ir•••Il rlwt • � 1 • _ _ try iw~i...••'.+ _ r. �..+!'iK',t Is ut L Ab•t• O•r• r.on. nll,.11•.r+nal Ara Ay Ol+e.r• trr..w r liMl." Ir-rlMt K• •• .r r' �' ', J .i . _ 4.•+u ... I..11 w Uq. A--* l-vw■If •Yss'� =.Mi..' e.f'i '[• 1 ,.I •I. • :• A~ ••..vr•M,• aloe* N MINE •Mr - � r . �_ Al7I)rrCSf B"' IYIw )i7z"b'= � _ ��-1 � -, •.'1, IF ,� _ 1 RE: MIAMI CIVIC CENTER LAND VALUE ANALYSIS Prepared for: City of Miami Planning Department, May 1978 By: Hammer, Siler, George Associates - Washington, D. C. OWNER EVALUATION OF LAND VALUE ANALYSIS AND/OR APPRAISALS The appraisers did not study the October, 1.977 extended uses for R-5 zoning T (allowing office space) that approaches the C usage of the R-C zoning. R-5 zoning was - in the spring of 1978 - modified to permit one unit of elderly for each 325 feet of site area per unit. This is more than double �r the density of the R-4 (1-750), and nearly double that of R-C zoning (1-600). ZONING MLrl,TI-FAMILY ELDERLY FLOOR AREA RATIOS 7r _ �. R-5 210 units 291 * 2.0 �r R-C 157.5 " * 1.5 R-4 126 If 1.0 -7r — *Including certain office commercial usages The most incongruous part of the land value analysis is found on Table II, therein the appraiser uses R-4 zoned land sale comparables, which has no market or income analogy to the subject property. The R-C comparables would have been theonly reasonablv similar comparables to have used for the subject property. There are thirty-three area sales 10 with adjustments for time,size and location. The R-C comparables north of the expressway range from $5.75 to $15.00 s/f. The R-C sales prices adjusted for time, size and location range from $9,40 to $15,00 s/f, With housing density_ criteria, current R-5 zoning would be of higher value than R-C zoning, in the opinion of all realty, lending and developer professionals I have had the opportunity to consult with in this regard. ■ 11 I - - - ---- -•-•----�---•--•--�^.w---•...,._ .,� �.,+--� .......,.yet •,,•.+.�w.sn. - TT..,,.� Ti1?Gal1-iIo4:c11 C114ef 70ni.11g Inspector L"H:jb cc: 1?ui 1ciiJzy Di rector 7c)niny InspCCtion P.CiI(Iing Fi ]e Table 3. COMPAMBLE SALES OF LAND ZONED RC RESIDI:NTIAI./CU�L�IERCIAL MIX n Adjustments (a) djustod Map Date Parcel Size Sales Price tat;�1 SaIc,; :'VIC" v Key Of Sale S` . Ft. 7.oning Per Sq. Ft. Time Size Location Adju�t-cnt (°) ►'c:' ��,. � t. Korth of SR 836, East of NW 11th Avenue 25 1974 6,000 RC $12.50 25a (50) 0 -0'' `' c�� H W 26 1972 68,300 RC $ 7.32 45°, 5 S 27 1976 6,250 RC $10.00 10°, {So) lU" i� sly• U 28 1974 6,250 RC $ 7.51 25 j (5 0) 57, c0r n Tot,i1 N• rr 0 O Avera_e PC-,sq. Ft. Si_ ..i!� . � n i North of SR 836, Best of NIV IIth Avenue 29 1973 7,405 RC r j 30 1975 24,455 RC 31 1973 9,583 RC O �• South of SR 836, Between Nlti 10th and `W 32 1976 5,663 RC *' 33 1973 5,663 RC i �c oSource: flat J5u 5u01) $ 6.00 15 00. - S 1.11 35� (�l t L°d���<�i`r IfllA�,-jGlfl9' February 3, 1981 D. A. i tche] 1 :��- acirjt.cs 10,.h .:vc flue t i lmi, Flori(:a 33.136 850 I: W. 15thSt.:-(•et V F::rt 1-7, 1,'-23, Bloch 20 �,►- is ...;can is ,.. rs Torlt-ative Sub. Dear .;r. ;Iitchell.: JOSS PH R (,F; 4tiSIE Crt% '.1ar.aser illy al:Ot'C rc fit" '.Il 'f''C ;)r: irt'rt V 15 C111'1-ently zolied h-5, ,Hi(,h- - t cl:si ty ul ti.�le )wel 1 i n(:s". -f On 17, 1980 0rciin,ince =9217 w.:s :assetl ilnd cldo_>i car.. Sa1G OI"clinance iI% nU(-,C: l)I"(:1I,;11!C f �71, City of ()I.::): CIIL'ii> 4 %,C !',C)11 i ncI to UC"? mi l- conva l usoc-n E. _ %ind nll2"S1nC }IC`::'('S 1S "i�On(li.t_1c:Il-11 Use" unc:(_'r the curl-ont I.-5 Zc•ni_nC , "Conditional 11'se" rc,ouires ZcminC Board (approval at public r hcal"lniy PI-jcar tO 1.:;`;ii.fnC'C Of I:('t"I^1tS for construction. i-A zcnine .is in hroc:ass to chancre the R-5 to C-1, "T,ocal �- Ccr:::tf_rc.ial", which will 1)t:1-1ni.t' nursing or convalescent }Icmes as a use with no "Conditional Use" approval required. I f this of fi ce may be of flirt}:t r aUsi stance to you, pl e:lse don't hesitate to call. Laura Tindal1-17o4:ell Chief Zoning Tnrpector ' h'IH: jb cc: hui ming I)i rector Zuni ng Inspection Readill-g File PW secL11-ity pacific, inc. December 23, 1980 Mr. Everett H. Rothschild, Area Manager Department of Housing & Urban Development Peninsula Plaza 661 Riverside Avenue Jacksonville, Florida 32204 Re: Jackson Towers Nursing and Rehabilitation Center 720 Bed Section 232 Dear Mr. Rothschild: Enclosed are the Forms 2530 for Security Properties-180, a State of Washington general partnership, which is to become a cc general partner with Mr. D.A. Mitchell of Miami in the mortgagor entity for this project. Also enclosed are the Forms 2417 for each partner in Security Properties-'80. the will be forwarding the partnership documents to you for your examination as soon as they are available. Security Properties-'80 is a general partnership comprised of eleven artners, including the sole shareholder of Security Pacific, Inc. a Washington corporation. Security Pacific, Inc. and its shareholders, directors and officers, as individuals, as participating as General partners in over 230 Partnerships formed since 1911 for the purpose of owning and operating govern- ment -assisted multifamily apartment developments, or o�-.ning interest in partnerships which have such purposes. Security Properties-180, as the Administrative Ceneral Partner of the Jackson To%-ers Partnership, %..ill be responsible for „.anacing the Partnership's affairs and, together with the De- veloper General Partner, Yr. Mitchell, for preparing and sending all reports, accounting and tax information to the limited part- ners. If you have any questions, please contact me. Sincerely, SECliRITY PA IFIC, NC. Martin M. 14adson Vice President ?i�'hi• jW enclosures «<J ;=..�7 1 ..,.. `LAT7�.E Groundkecper 1 1 Is WO is 10.080 LIM sec. Aides iU 1510 5� UUU- _ . j: 516 ,vt,, Uvv_: : 930, 000- �sst. I31c3 . I:'7�T j 25 �+ l� 666 s s 64, V00 orderlies - 61 s 516 t 3713, 200__; paint. 10en 8 7(ITAI. Nt'11.1)1NG d (.HUt'Nf)S I s d 1 -1AL NA It StN*G sF 1«•I" s - -- c l..-Li 0 — U1F-TAHY: UU 7 1, OUO 8 4, UUU U SA .AF{!F:$: 3�III ..I�c )e�urician 1 ' 875 10, 500 34. '\utrition ist 2 : 2, 916 s 70, 000 37 200 1"I'(1311'I'1 Oli(OTRI Asst. 1-IT & OT 6 15 ' 1, 166 : 750 c 1104, 000- s 135, 000_ I)ieiary Aides %llc.11 )ers 6 18 : 5l6 s 666; s s 1-14, UUU - livhab & Act. Aide 9 c 533` 5" 600__ < < ({tr, r $5Q_ IP3b. Cooks TOTAL I)IF.TAFtY _— -- �s 3,j5� ��� �— - — - -- -161.. 7OTA1. 0711F H %AL.AI It _--- _ s .i _53, 6 5 — ---- �F=STIMATL_ ANNI AL S A L A H (1t)! Hearin Spec. . 10 I33 1. UVO .�ll.17IN�IS'fRATIVE Inis. 15C 666 40, 000 Psychulo list Pui3iatrisl . 35 . 35 583 437 7,000 5 25 5,000 Dept. Beads 5 1,333 1.250 80, 000 0, 000 a-Itay Tech Spec Ther. .25 1 416 916 1 1c.000 %le(jical Dir. . 25 ch Social Worker 3 875 11:500 U'f lil:Ii SA I_A111 75 416 15, U00 Central Supp. Pharynacist 1 1 1,250 17.000 Inc r,tist 15 250 3, 000 Pharm. Asst. 1 I UI)llthornol. . _ -- -_ - -- I s, Uf 1'A I:T s!F N7 (,I !I(,I'�I�(. A\itl 1'H4`. 111 \ f t UI'\iF NT (1\lb No t,'t If 111, 7(, F [ I1F It AI 1 1 ut'sl1'(. Ali\ti'.Is'f it 1\710N A(•u,••,a ! an „a h 77 APPLICATION - - PROJECT MORTGAGE INSURANCE (NURSING HOMES AND INTERMEDIATE CARE FACILITIES) 11(1)eet Name: - -- Frofrct No.: JACKSON TOWERS NURSING & REHABILITATION CENTER -- .- Charter Alor-tgage Company --_- — — ,rill t1,( FVd ral tie,trsinl' Tit(, nnder- st)•ned herd)\ requests a loan in tilt- principal atimunt of S 12, 960, 000. 00 to I., tmurctl node, tit( 1'..,( isions of Section 232 _ of tilt- National Homing Act, said loan to ht secured h\ a first nt(,ttC1Wv on tilt pr(.pert\ hcrc•Inafter dcscrihcd. insurance of ad%arl(vs during; construction [-NNis, n is not (itatrt•d. [-i F(a�il,ihtfRehah.l X SA^1A [lConditfunal ❑ Finn T\ pc of Mortraror M I'h1 [7 Ni) A LOCATION AND DESCRIPTION OF PROPERTY 1. Strert Nos 2. \luni' q,ant, 3 Count) 4 Stale - - -- 888 N. W. 15th Street Aliami I Dade j Florida _ S. T)pe of Project 6. (188,800 F'Inmr Area r . No-TAIdg.lFill. B. Number of Beds: 14. Avr Paw Monthly 10. Aag Other Monthly. ] 88, 800 I I ('hargrs per Bed (•ltatr, t per Bed �Fleaalor [ �1-Ctury, Nil IC•F- s810.00 I s 120.00 11. 12. Year Built 13. A( t e. or) Buildings - NProposed I Ftthabintation Proposed None _ SITE INF011AlATION Bl'ILDING INFORMATION 14.Uirnenamnt 219-i1CreS ih.titrurturat1%att - ft. b) ft.. of 95, 396 .Q ft CBS and Pre -Cast Concrete 15. Zonn,g (If ft (, rill( rhdnfed, a,hrnrt e. idenee- 1 F's t,,tor Finish 18. 11, atinF A,C S, arm R-5 _ Stucco _SI)lit Air _ B. INFORtAATION CONCERNING LAND OR PROPERTY: — + 19. i 20. 21. 22 Date j P, i AddrtmnaI '2 3. 24. If 1., ea, hold I '107 AL ('(1ST He•latrmn.l„I' Buanraa, A, quirrd Price I C„ata i'dn1 of Annual P, r.�•nn{ or (Ithrr j A, rn.rd Grmu.d Rent i B,twr,n S, II,i end St•mn our 6/72 s420,000 ' $ t50,000 $ —0— 575,000 Business 25 Volitirs }'.hire_ Cummunil_a 2(,. t'r,u.udl Sit, Features: Hater a [_l ('sits ^Fills 1. F (•rn,atimns 'I w%ion V(me Smartt, (_ i Pmmrhreu,arr Ifi)'hNdUrTablr-'Rttdirnnr\lalln light•, 26a Special one I;,,,:e,ninc — Aaarurtunls: (al PItf•daehle• r N"1,.1'1,paihle, (101'rn�„f�dl R.,!„ore S .(r) Annual Pa, rnetit S :(dI 7r'in) Yrs. j C. ESTIMATE OF INCOME: Sec att:lc Sec? for 111c me hiformation Breakdown — 27. Numb, r of Beds I F auft, ..trd It ate Wwithl)') t atimatrd T) t,t of Rt-tri or N'ard I Nura,nl: Int.ir•mdtet. , SL.nthl, In, rime (ere .`:::rang jitit etnnduif- CCafe. at 100', 0,(ul.,ne> 7 (1TAL. .TN,%Itx Nursing 288 i s Is ' $ 367,200 `xx ri?t AC If ..., 1 432 - s 243. El60 T'hr, t B,-d \s and I I S 1 S I= Put.i - Bed Wiird ln_elu_des 72 Ikmdi('aI)ped Units__- 707AL'aoNT�i1.1 INcO,1E -___-.- ---- - — 28 Other tnrmn,e (Lint): X-Ray, Laboratory, llharmac}, I ursonal Services, _ Phvsical ,Therapy, Medical and Dental, hearing & Speech Therapy f = 86,850 ical_CouJl_ti�l� TOTAL t)TIIFR INCOME S 86, 850 -13siyc'holo ------ --- - — - -- — — ---- 29. - --- 'iOTAL NIONTHLY INCOME - -- A1.1. SOURCES —1 5 �6 . U 10� 70 I F TOTAL ESTIMATED ANNUAL. GROSS PROJECT INCOME AT goo, OCCUPANCY (1.1ne 24a 12 Months) 31. NON -REVENUE PRODUCING SPACE - T) pe of Einployee - No., Rooms Ci,inpoution of Unit _ _ L. cation of Unit In P11nrct -- None - - � - - - - - -- D. PAYROLL: (sALAI1rFs): ------- ----- --- ---- --- — -- ------ Fwation ,Nunibe•r Monthly Rate TOTAL ANNUAL Position Number Monthl) Rate T(aTAt. ANNUAL 32, ADMINISTitAT1VF: Director 1 6,250 75, 000 35. 110USEKF EF'ING: Asst. Director 2 1 = 1, 500 = 36, 000 �: Housekeeping housekeeping 3 3 s 716 1 666 :. _ 25, -800_ 24, ofl'ic e Su 2 : 833 � 0, 000 1 s ; 0qQ Clerk/Itelept. 3 �= 583_ �s 21, 000 Housekeeping 60 T s 516_ s 372,000 TOTAL ADMINISTRATIVE S sG a--YYO- -TOTAL }itll St_KF.F.F'ING = Qr) 1a 800 33 B1.DG L GROUNDS }.ldg. Suet. 1 2 083 25,000 - 3r LRSING SERVICE; Tli� 12 1, 666 240,000 ;round 5upt. 1 s 1, 250 c 15,000 LPN 23 = 750 s 207, 000-- ` — GI•011ndkeeper 1 = 900 = 10. 080 Unit Sec. 16 : 566_ _ _ s -108, 8pp_ Asst. Bldg. A191, 2 = 1,250 = 30.000 Aides _ 150 1: 516 s 930, 000_' '1laint. Men 8 s 666 s 64.800 Orderlies 61 1 = 516 = 378, 200__; TOTAL RLrILI)ING L ('HOUNDS = 144.800 TOTAL NURSING SF'RVICtS S 11 �64. 0 _ 34. )IETARY: C00kS7 1, fl00 84, 000 is 31 XiT(Sc j_AIjI Sri �T1) 1 I 875 lfl, 5flfl ' Nutritionist 2 = 2, 916 70,000 1"JIM 0MOT111 s = 1,166 = _.8•1, 000— Met ar Aides 6 s 516 37,200 Assi. 1`17 !� OT _ 15 s 750 135,_000_ Cooks 18 c 666 Is : 144, UUU_ Rehab & Act. Aide 9 s_ 533_ _ s 57,600 70TAL DiETARY -_- s 33.5 -200_ --- -- —_ - __- TOTAL OTI t-R SALAl11FS -- - - -- --_ = 398, 850 _.7 3b. ESTIMATED ANNUAL SALARitt1S. s3 .161 65 ADIMINisTRATiVE Hearing Spec. .10 35 83 583 11000 7, 000 iC irlis. isc i. 666 40, 000 Psychologist tI'1S . 35 416 5, 25 Dept. beads 5 1 1, 333 1, 250 80,000 15, 000 X—Rapoiliy ?;-ltay Tech . . 25 416 5, 00� Medical Dir. . 25 Speech Ther. 1 916 1 11.000 ()T1f1:11 SALARIES Social Worker 3 875 31t500 Dentist 75 416 15, 000 PhaJmacistp. 1 1, 250 15; 000 pphthomol. . 15 250 3, 000 ; pharm. Asst. 1 625 7, 5001 E5T1"�1ATED ANNUAL C�F'ERATING E�CPENSFS-- :� ESTI`s�IATED RFPLACET>E_COST: _ AU�'iNISTF__ __ E�- ---- ----- --- ----- 1. Unusual Land Improvements S__-0' 1. felephonc d Telegraph S 18 00p 2. Other Land Improvements '-- --- Advertising - 3, 000 3. TOTAL LAND IMPROVEMENTS 11 E 0 , 4 03 3. Insurance and Liability 40� 000 _ 4. STRUCTURES - Gross Floor Areal a8rII0Q�q.ft, 4. License or Permit 10.000 S. Main Buildsnt, $4 3 /Sf 39_,1 1 8-J-25 S. Legal and Audit 4,000 _ 6. Other (f-arking Struct �_. 25-1,-b33 ' 6. Miscellaneous _ 7 7. Office Expense 28, 80-0 _ 8. TOTAL STRUCTURES S t 370, C3 S. TOTAL ADMINISTRATIVE S __108_,000 9. General Requirements 256 SJ 70, 6U9 BUILDING AND GROUNDS: 10. FEES: 9. Decorating, Interior r 10. Builder's General Overhead and Exterior S _ 21, 600- I C 2 % f 192,619 10. Heating 1 p.# 800 11. Builder's Profit '11. Electricity 150, 0.00 C -4 •_ ___ro S 470,606 12. 1l3 � 490 12. Architect Fee - Design l3. Gas as C S. Q-_°ro S c:l U, 563 t14. Garbage Removal 10, 800_ 13. Architect Fee - Supervising 15. Insurance 109, 200 C ro S 95, 342 I 16. Supplies __71 200_ 14. Bond Premium S 61 , 615 17. Maintenance and Repasts 15. Other Fees L__ (Bldg., 8 Realty Items) _-,3.6, 000_ 16. TOTAL FEES Sl , 25C, 741 18. Grounds Expense AO, 800_ 17. TOTAL FOR ALL IMPROVEMENTS;3+849+161 1791,389 19. Miscellaneous 38, 880-_ 18. Cost per Gross Square Foot ' S-- 5_1. 96 20. Exterminating 2 880_ 19. Estimated Construction_• Time _ 18 mnnths 21. TOTAL BUILDING A.tiD GROUNDS S 430,560 CARRYING CHARGES AND FINANCING: DIETARY: 20. interest _2Q_ Months C_13.-� a x e x e r N t 1 U. 51 22. Supplies S 133, 200 on S 6,_480, 000 ---- s 1_404, fl00 ( 1 , 134 t 000 23. Food Cost 918 - - - - - _ 15,')00 _ 2 1. Taxes S_- -_ 24• TOTAL DIETARY S1,0.51,29_ 22. Insurance s_ _ 20, OQO HOUSEKEEPING: 23. FHA Mtg., ins., Premium ILL -_129,_600 25. Supplies S 25, 200_- 24. FHA Exam., Fee (0.3 0) 38, ?50 26. Laundry 10, 800_ 25. FHA inspection Fee (0.5 0)- ___G4, 300 27. Other _ 3, 600_ 16. Financing Fee (2 L) - _--259, ?00 28. TOTAL HOUSEKFEPING S___- 39,60. 0 )7. AMPO ',NP only) ( ".) NURSING SERVICE: (288 beds) 28. FNMA Fee (1.g.)---_94a.400 29. Supplies S 175, 200_ _ 'e9. Title and Recording, S__ 20,_540 30. Drugs 87, 840 _ 30. TOTAL CARRYING CHARGES K FINANCtNG S2,146,42C 31. Professional Fees inc. -in salaries LEGAL, ORGANIZATION, AND AUDIT YEE: 32. TOTAL NURSING SLRVICE s_263,74Q 31. Legal S_ _--_1-3, SIJO OTHEP EXPENSES: 32. Organization S- _- 2, QCO 33. Program and Actisities S _10, 000 - 33 Cost Certification Audit Fee i - .2, 500 34. Library -2, 500- 34 TOTAL LEGAL,ORG.,6 AUDIT $- 18. 000_ 35• Autumnbilc Expense 44,000 35. Consultant Fee (NP only) S. --._ _0,•• 36. TOTAL OTHER ESPLNSES S.-56,500_ 36. Major Mosable Equip.(Non•Rcalty) S1,10.Ci,870 37. Total Salaries (Line 1) 381 2, 597,850 37 TOTAL EST., DEVELOPMENT COST (l't ndtnt _ 38. Rcpl.. Reserve (Hrnll00.0000 r Line 11•8) . __50,930 l.nnd or Off -Site Cust)(17+30.31+35+36) $13,062.61 39. EXPENSES (Liss 7(Iacs)' q.5_C� , ; 38. LAND (F.::tintnlcd 1lnrkcl Price of Site) TAXES: 11,9 , 79 [- ,q. ft. Ce $14_ 0. pet •q. ft. ;; 1 , 6 7 Z, U1 40. Real Estatc • Est., Assessed Val. 39. TOTAL ESTIMATED REPLACEMENT S- __(p$ ____-perS10005-408,_96Q COST OFPRC►)FCT(1cldLinrs37un�.00 ,'-,14,739,73t 41. Personal Prop.: Est., Assessed Val. S____ (, S - _--per SI(i0o c _22, 32Q 42. Ernplu)ee Payroll Tax S 164, 8b3_ _ 43. Ernplo)cc Social Security 44. Other 20,800 - 45. 4G. 47. _F 1. 2. 3. 4 5. W. TOTAL REC1JIRCMENTS FOR SE- TLE?'•1i_i•'T: I 1. DEVELOPMENT COST (linr C•37) - J 3,062,67! 2. LAND INDEBTEDNESS (or rush rrgtuirrcl f(p►lnndnrquisitinn ) S 100,000 TOTAL TAXES ;0C,�, `!- 3. SUBTOTAL (Line 1 + Line 2) 13,162,67! Rcpl., Rcs.,(\un l rnhlll/1.10 i Ltrtc 11.35) 5- 11,069 4. k1,)rtt;ag,c Ansuunt c1?,6(,0.000 Total Estirnatcd Annual Op,:ratinb Expenses 5. Fees Paid by Other than Cash S ___4 7 0, ue (Lines 39 4 45 + 10) 55,2.99,01, 6. Line 4 plus Line 5 E 1 3,430,61 47, ,359/bed _ 77. 53 ro_ _ 7 Unr 3 winus Line 6 Cash /✓quit\' S (267, 92' ESTI':.ATE OF NET HE-MR_NS: 8. i VITIAL OPERATING DEFICIT t 2 C- 8 , 3 6' Annual Gross Fatninbs Expectancy (/runt C•3(I) $,041,320 9. ANTICIPATED DISCOUNT 15oncO fee s . S 21.8, 36- Prvdtcted Occupant) Ratio 85% 10. WORKING CAPITAL. M I: Of C S 259, 20C Effecti%c Annual Gross Income (Line F-I rl*•2) 56,8.34,272 11. Off Site Construction Costs S Mace Est., TLItal Annual Operatin6 Expcnsr (Fro"i t•17)b,809,01 9 12. Non-MurtFapablc E9,61,incnt and Furnishings S 15 3, 'IOC Net Return Asailablc for Proprirtar) Earnings 13. 'TOTAL ESTIMATEUCASH REQUII:iAW.NT • Realty and Non -Realty (Total of Lines 7,8,9,10,11 nrtd 12) S 947,41 (Line F-3 minus line F-$) Sl_,535J253 _ 6. Estimated Net Earnings Attributable to Source of C,sh to meet Requuameota: Realty and Non -Realty Debt Service 51,360,840 442_*J�1 S_ X - 4 94LUDAG 7. Estirnatcd Residual Proprietary Earnings ,en. (Line V5 minus Line F-6) Cash Flow S17 _4A453t 5ucurity PUcific,Inc ._Ptnr, 18.41 N t 71ulrrut lflnchmuwtif.1cldclwnnnrris Tay: exempt permanent $10. 55r6 A•crcled) TOTAL A m„unt S 2, 186,000__ $ 1 , 75U, 000 - 1'ai;c k c. Es,rll%IATE OF INCOME Beds NURSING 18 Private - Level 1 90 Semi -Private 36 Three Bed N and 18 Private - Level 2 72 Semi -Private 54 Three Bed Ward 80 Private 220 Semi -Private 132 four Bed Ward Dail% $56 48 42 48 39 32 13 16 1lonth1y Cummulative 1, 680 $ 30,240 1,440 129,600 1,260 45,360 1,440 25, 920 1,170 84,240 960 51,840 367, '200 690 55,200 570 125,400 480 63,360 4243, 960 GENERAL CONTRACTING OFFICES SUITE 16•C 1400 N. VV TENTH AVENUE MIAMI. FLORIDA 33136 February 18th, 1981 BUILDER - DEVELOPER DADE COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY 44 West Flagler, Suite 2550 Miami, Florida 33130 Gentlemen: PROPERTY MANAGEMENT D A MITCHELL. CPM PRESIDENT The applicant, Donald A. Mitchell, on behalf of himself and equity partners, Security Properties '80, do hereby make application for the issuance of TEN MILLION ($10,000,000.) DOLLARS of Industrial Revenue Bonds. This is for the purpose of constructing and equipping a 720 bed multi -discipline health care facility to be known as JACKSON TOWERS NURSING AND REHABILITATION CENTER. a) The applicant will be a newly formed limited partnership, the general partners of which are Donald A. Mitchell and Security Properties '80, State of Wash- ington General Partnership. The business address of which is in the letter- head. Caribbean Realty Group is a trade name of Mr. D. A. Mitchell only, and no part of the application. Security Properties '80 is the sole share- holder of Security Pacific, Inc., a Washington Corporation. They have participated in over 230 partnerships formed for the purpose of owning/ operating government assisted developments. Resumes of both of the entities are attached. A letter from Mr. Martin M. Madson, Vice President, Security Pacific, Inc, to Mr. John Haley, Executive Director of the Authority is attached. b) The requested bond issue is for TEN MILLION ($10,000,000) DOLLARS. c) Please see two resumes marked Exhibit 'A', attached. d) The construction and equipping of seven -story, 189,000 sq.ft. health care facility with 288 SNC/ICB licenses beds and 432 elderly handicapped licensed care beds incorporated with all ancilliary services involved, will be the purpose for which the TEN MILLION ($10,000,000) DOLLARS will apply. Estimate of construction costs are $11,955,809. Either an Urban Development Action Grant and/or Housing and Urban Development Project Mortgage Insurance will make this project permissible. e) Our Housing and Urban Development Program 232, Form 2013 NH/ICF projects a conservative annual return of 11.36%, or $174,453. after debt service and all appropriate reserves are in escrow. Our Health Systems Agency performa projects break-even in the fourth quarter of the first year building up to $165,141 profit/quarter half way through the second year. The above made possible with investment made possible by the assistance of the Industrial Development Revenue Bonds, which includes 442.5 new jobs for the community among other benefits to the sick and elderly. See Exhibits 'B' and 'C', attached. 1 i1 -� :1: 1: 1! 1 ., _ ._, c , „i 1 I i„i„21 , { ❑ I Inc. � 1..1. .., I r, ... 1 • __ 1?.. ,'li`.1'tI111AI 11.•�•rl I , IA-r ,.i ( � ,.- •icy c ,� �.i 2. be :e-. —= _:, _ ^7 40• wit11 C 1 1 A Ir1.11 1 Il.tlllll,• .)I.; - to the lc-,- e - --_-.loved. 3. Will o` S3,461,650 to mainly innvi , it\ 4. Nearly tv.o -i 11 c^ collars in supplies and svivicc.. to „ 1•r,( in the co ,^unity. S13,420,000, in taxable proprrt\ Lill tax roils. The appropriate A-95 and its reply from Dade County riannina, `tots of t1,`1 ,1.1 Planning and Development Clearin(i House, Health and Rrh,lhi 1 itot ion and Certificate of Need from Community Medical Facilitirti ,lit, .ltt.11hr,l ,1. Exhibit IF'. Enclosed are commitments from my equity partners, Security Pacific, III,_ for $2,700,000 and $1 ,750,000. The former was a proposal and meali 1 i(•lE to the latter for purposes of pre -final HUD closing expended capital. AI..t) enclosed is commitment for placement of approximately $10.000,000 ()1 Inl)1111.1,11• revenue bonds in the tax exempt market from my Invetitmvnt Ilankrr •,. live 1 xllii,i t attached. Additional addenda are legal description, location nlal>,, ut i I i 1 it .Iv,li I.Illlt , zoning adequacy, etc. See Exhibit 'HI, attached. I am also pleased to enclose preliminary architectural site and builllirllt pl.ul•.. See Exhibit '1', attached. I am looking to working with the Authority on this very importrlrlt cf.-immillir/ project. The 432 elderly handicapped care beds, along with th(_- 2POPO Ilur•.irlll are in dire need. I will forward a copy of the UDAG Application involil-d, which the City of Miami is currently giving the finishing touchF: tr.. Respectfully Submitted, DONALD A. MITCHELL DAM/sm Enclosures cc: City of Mi a•I)i Martin Fine, F,.luirc Charter Ft1r t•I.1,It l.l'1;' Ilt� Reginald R. Waite".. roses m security pacific, inc. December 23, 1980 Mr. John Haley Executive Director Industrial Development Authority for Metropolitan Dade County 44 Nest Flagler ;Miami, Florida 33130 Re: Jackson Towers Nursing and Rehabilitation Center - 720 Bed Section 232 Dear Mr. Haley: ' By this letter and the enclosed brochure, I wish to introduce you to Security Properties-'80 ("SP-'801 , a State of Washington general partnership, which is to become a co -general partner with Mr. D.A. Mitchell of !•:iami in the mortgagor entity for this pro- ject. SP-180 is composed of eleven partners, including the sole shareholder of Security Pacific, Inc., a Washington corporation. Security Pacific, Inc. and its shareholders, directors, and officers, as individuals, are participating_ as general partners in over 230 partnerships formed since 1971 for the purpose of owning and operating government -assisted multifamily apartment developments, or owning interests in partnerships which have such purposes. Security Properties-180, as the Administrative General Partner of the Jackson Towers Partnership, will be responsible for man- aging the Partnership's affairs and, together with the Developer General Partner, Mr. !,itchell, responsible for preparing and sending all reports, accounting and tax information to the lim- ited partners. If you have any questions, please call me. - Sincerely, SECURITY PACIFIC, IPJC. Martin M. Madson Vice President MMN.: jw enclosure 2225 • 4m AVENUE SL ATTLE. WASH NGTON 99121 '(206) 623-8313 o..� security pacific, inc. December 23, 1980 Mr. John Haley Executive Director Industrial Development Authority for Metropolitan Dade County 44 West Flagler Miami, Florida 33130 Re: Jackson Towers Nursing and Rehabilitation Center - 720 Bed Section 232 ■ Dear !•fir. Haley: ' By this letter and the enclosed brochure, I wish to introduce you to Security Properties-'80 ("SP-180"), a State of Washington general partnership, which is to become a co -general partner with Mr. D.A. Mitchell of I•:iami in t} e mortgagor entity for this pro- ject. SP-180 is composed of eleven partners, including the sole shareholder of Security Pacific, Inc., a Washington corporation. Security Pacific, Inc. and its shareholders, directors, and officers, as individuals, are participating_ as general partners in over 230 partnerships formed since 1971 for the purpose of owning and operating government -assisted multifamily apartment developments, or owning interests in partnerships which have such purposes. Security Properties-'80, as the Administrative General Partner of the Jackson Towers Partnership, will be responsible for man- aging the Partnership's affairs and, together with the Developer General Partner, Mr. "'itcholl, responsible for preparing and sending all reports, accounting and tax information to the lim- ited partners. If you have any questions, please call me. - Sincerely, SECURITY PACIFIC, INC. Martin M. Idadson Vice President MA4N : j w enclosure 2225 - Am P.ENUE :L 1TTLE WASH!NGTON 98121 (206) 623 6313 JIM bade County Industrial Development Authority am I Al low= A CU6DE ,WWI' S T VL F Orr 'in F IMF— V FL 16 1! 14 UNTY Robert B. Schyberq Executive Vice President RBS: ac enclosure 6� Waterford Park U, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 * (404) 394-1300 Fable of Contents _ Capital Formation Title Page Capital Formation ..................................... 1 IDRB's............................................... 2 Advantages......................................... 2 MM Size of Financings ................................... 3 Sources of Financing ................................. 4 Interest Rates and Terms ............................ 4 Financial Structure .................................. 5 Issuance Costs ..................................... 5 Timing............................................. 5 Dade County Industrial Development Authority Guidelines and Procedures for the Issuance of Industrial Development Revenue Bonds ................... 6 Guidelines ............................................ 7 1. Use of Bond Proceeds ............................. 7 2. Financing Structure ............................... 7 Procedures .......................................... 8 1. Application ....................................... 8 2. Application Review ................................ 8 3. Preparation of Bond Documents ..................... 9 4. Sale of Bonds ..................................... 9 5. Bond Counsel and Preparation of Bond Sale Documents ............................. 9 6. Disposition of Proceeds of Bond Sale ................ 10 7. Bond Validation ................................... 10 IDRB's Timing Diagram ................................. 11 Dade County Industrial Development Authority ............. 12 In the face of increasing interest rates and rising construction costs, the assimilation of capital to finance new and expanded industrial facilities is becoming increasingly important to corporate facility planners. Until only recently, most site location or expansion decisions depended primarily upon generating the right answers to questions such as land costs, tax abatement, labor rates, etc. Alternatives for financing capital expansion projects are now receiving greater consideration and the availability of Industrial Development Revenue Bonds can, in some instances, be the difference between a project successfully completed and one stalled indefinitely. The following narrative provides a working description of Industrial Development Revenue Bonds as they pertain specifically to Dade County, Florida and is not intended as a precise interpretation of Federal or State laws Where applicable, the appropriate sections of the United States Internal Revenue Code and Florida Statutes are given for reference. 1 RBS:ac enclosure Robert B. Schyberg Executive Vice President Waterford Park 11, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394-1300 r rrre.er .�� IDAs's Advantages By definition, Industrial Development a) Interest Cost Savings b) 100% Financing Revenue Bonds (IDR's, IDB's, As a result of the IDRB's being Generally, all capital costs IDRO's) are considered a special obligation associated with the acquisition securities issued by a local of a governmental unit, and of an industrial project can be governmental agency (e g., a providing the project meets financed, including: acquisition county, municipality or other local qualifying conditions as of property, construction of governmental body, including an described later, the interest plant facilities, purchase of industrial development authority) the loan earns is not subject to production equipment, finance - ■ for the purpose of purchasing land federal income tax (Section charges including interest and. or buildings, the construction 103(a) U S. Internal Revenue during construction, of buildings and equipping them for Code of 1954, as amended). engineering and architectural use by private industry. Under The lender, therefore does not surveys, consultant and legal Florida law, the facilities are then need to charge the same fees, and administrative - leased or sold by the agency to interest rate in order to expenses. The actual ability of qualifying industries at lease or receive the same net rate of a company to obtain 100% installment purchase payments return as if the loan were financing will, of course, necessary to retire the bonds. made on a conventional basis. depend upon factors such as The bond debt service is paid The resultant interest cost financial strength, nature of solely from the revenues or savings are passed on to the project to be financed, money payments received from the borrower and are generally market conditions and others. company and there is no expressed as a differential in c) SEC Exemption undertaking on the part of the interest rates which the Industrial Development local agency, county or any other company can obtain through Revenue Bonds are exempt governmental unit to make such payments other than from the IDRB financing as opposed to conventional financing. This from registration under the Securities Act of 1933 and the lease or installment payments interest differential generally 1939 Trust Indenture Act. received. ranges from 2.0 to 4.511/o. As Industrial Development IDRB financing can, in many an example, consider the Revenue Bonds are, however, instances, be compared with following hypothetical case: subject to the fraud provisions ordinary note and mortgage of applicable securities laws financing, i.e., a private lender XYZ Company Inc. requiring full and complete (bond purchaser) agrees to lend Plant Expansion disclosure. funds (buy bonds) to a private Amount Borrowed $2,000,000 dj Accounting company. The facilities (capital Term 20 years (Annual Payments) Most commonly, the company project) which the lender's funds are used to purchase are Total Interest Costs La 8% (IDRB) $2,074,400 using the financing treated mortgaged to secure the Total Interest Costs federal income tax purposes. Since in the owner rp s.Si repayment of the loan (bonds). In many cases, the repayment [l 11 % (conventional) $3,023.200 Total Interest Savings $ 948.800 the company is considered as schedule (debt service) is Present Value of Savings the owner, the accounting treatment of projects financed structured similar to normal (Discounted at 11 %) $ 377.765 with Industrial Development ramortization schedules for typical Revenue Bonds allows the mortgage loans. company to receive all In the case of Industrial applicable investment tax Development Revenue Bonds, the credit, the depreciation of the +j local issuing agency (Industrial depreciable assets, the Development Authority) serves as expensing of that portion of the a pass -through medium. The loan rental or purchase payments is made to the Authority; the which equals interest on the Authority uses the funds (bond bonds and the capitalization of proceeds) to acquire the capital the project costs. project and either leases or sells the project to the company. For IRS purposes, the action of passing the loan through the Authority qualifies the loan as a special obligation of a local governmental agency, providing the major advantage of this form 2 of financing. Robert B. Schyberq J Executive Vice President RBS:ac enclosure Waterford Park [I, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 Qualifications Size of Financings In general, the Internal Revenue Code allows tax exempt IDRH financing for projects consisting of land or depreciable property used in any trade or business, if the size of the financing (referred to as an "exempt small is'Al R financing'') does not exceed certain prescribed amounts (discussed in following sections) or, alternatively, for certain types of facilities specified by Statute (e.g.. air or water pollution control facilities). Most states have passed legislation which further qualifies proposed projects. Florida Statute describes qualifiable projects as "industrial or manufacturing plants.'' In interpreting the term 'industrial plant'' the statute (SS159.27(5) and SS159.44(2)) includes an 'industrial distribution center, repair, overhaul or service facility, test facility, pollution control facility and other facilities ... handling any products or commodities embraced in any industrial or manufacturing plant. . and appurtenances and facilities incidental thereto " The statute also fixes general economic benefit tests which must be satisfied. The Dade County Industrial Development Authority generally requires that proposed projects be capable of producing tangible economic benefits in the form of new employment, the preservation of existing employment, new capital investment or combinations thereof. Should the company, the bond purchaser, the Authority or bond counsel feel that the proposed project or the financing structure does not fit squarely within the meaning of an ''industrial or manufacturing plant'' under the Florida State Statute, the bonds may be required to be validated in the Florida courts before Issuance "As of publication date, the Florida State Statutes governing the qualification of Industrial Revenue Bond projects was under review by the State Legislature. A bill broadening the use of Industrial Development Revenue Bonds has passed the legislature and includes the following additional categories: a) Agricultural processing and storage facilities b) Warehousing or distribution facilities c) Corporate administrative headquarters d) Tourist related attractions e) Convention or trade show facilities f) International trade centers g) Profit -oriented medical facilities h) Airport and port related facilito.,s r) Commercial projects in slum of blighted areas Duestions have been raised regarding the constitutionality of the amendment with the probable effect of requiring validation in the Florida ;ourts for projects included under these new categories. fhe resolution of this question may disallow the use of IDRB's for ;uch projects. RBS:ac enclosure Several sections of the United States Internal Revenue Service Code of 1954, as amended, deal with the size of Industrial Development Revenue Bond issues. $1 million issues (Section 103(b) (6) (A) ) This section deals with ''exempt small issues'' and in general states that tax exempt ''industrial development bond'' financing is permitted for a financing of up to $1 million for qualified capital projects. $10 million issues (Section 103(b) (6) (D) ) This section provides the issuer the option to increase the limit of the IDRB financing from $1 million to $10 million, but however, imposes other capital expenditure restrictions. In general, these restrictions require that capital expenditures made by the company (user) and all affiliated entities located within the same governmental jurisdiction (city, county) in which the proposed project is located during the three years immediately prior to the date of the proposed issue and the three years after the issue must be aggregated in arriving at the $10 million limitation. If during this six year period the aggregate of capital expenditures of the user and affiliated entities within the same governmental jurisdiction, including the amount raised with industrial development revenue bonds exceeds $10 million, the federal tax exempt status of the interest on the industrial development revenue bonds is lost from the date the limit is exceeded. This occasion generally triggers a default on the bonds having the effect of immediately accelerating the bond redemption date, usually with a substantial penalty. Additionally, Florida Law permits such bonds to remain outstanding only as long as they remain exempt from federal income tax. Robert B. Schyberq I.xecutive, Vice President Waterford Park D, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394-1300 Urban Development Action Grant (UDAGJ Exemption Federal legislation passed in 1978 provides that up to $10 million of tax exempt IDRB's may be issued for a capital project costing up to $20 million if the project is the recipient of a grant (UDAG) under Section 119 of the Housing and Community Development Act of 1974. Pollution Control Projects Section 103 (b) (4) (F) permits the issuance of tax exempt "industrial development bonds" without limitation as to principal amount for "air or water pollution control facilities''. Other sections of the code refer to other specific types of pollution control equipment and r should be consulted for guidance. Minimum Issues While the maximum issue is set by Federal regulation, the minimum size issue is a function of market conditions. Generally, the break even point, above which savings will be realized and below which conventional forms of financing may prove to he less expensive overall, is considered to be $500,000. This is primarily a result of the fact that the issuance costs (see "Issuance Costs'') associated with this type of financing do not decrease proportionately as the size of the financing decreases. RBS:ac enclosure Sources of Financing Interest Rates and Terms As with the structuring of IDRB issues, the placement of such financing can be flexible in order to meet both borrower's and lender's requirements. Typically, smaller issues (less than $2 million) are privately placed directly with a single financial institution, while larger issues are frequently sold through private placement or at public sale with or without the services of an underwriter (investment banker). There are advantages attendant to both methods, among which include: Private Placement 1. Lower issuance costs 2. Negotiated financing structure 3. Reduced processing time Public Offering 1. Lower interest rates 2. Longer terms 3. Less restrictions on management prerogatives Typical bond purchasers include: 1. Commercial Banks 2. Savings and Loan Associations 3. Insurance Companies 4. Pension funds 5. General bond buying public Interest rates and terms are generally negotiated by the company and the bond purchaser or investment banker and are usually quite flexible in order to fit both the company's and purchaser's objectives. The length can include level debt service payments, interest only until maturity, balloon payments and others. As the repayment is guaranteed solely by the company's ability to generate the revenues required to make debt service payments, the terms of the loan and the interest rates will, accordingly, be a combination of the assessment of risk that the investor feels he is exposed to, the financial strength of the company, nature of the assets being financed, and existing money market conditions including the investor's requirement for tax exempt income. Robert B. Schyberg Executive Vice President Waterford Park A, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 Financial Structure Issuance Costs Timing Under Florida law, the two principal structuring forms in this type of financing include leases or installment sale agreements. The payments required under either must be sufficient to pay interest -and principal when due on the onds. The length of term of `payment in either case cannot be less than the life of the bonds. nder a lease agreement, at the Twonclusion of the basic term of lease, the company normally takes Jobtle by exercising an option to urchase at a nominal figure. If an installment sale agreement is vr►sed, title is generally held by the ;suer while the bonds are utstanding and thereafter transferred to the company. other documents generally squired include a mortgage and security agreement, a trust Id ndenture or assignment of ;suer's rights, a bond purchase greement and, where appropriate, a guaranty Igreement. I I RBS:ac enclosure Issuance costs typically include bond counsel fees, local counsel fees, underwriting discounts or financial commitment fees, issuing agency financing fee and if required, bond and official statement printing costs, trustees fees, title insurance documentary stamp, intangibles taxes and other miscellaneous expenses. In general, bond issuance costs are financible as part of the revenue bond issue. All such fees are generally paid by the company using the facilities financed. Many of these fees are negotiable and should be determined prior to the decision to pursue an industrial revenue bond project. Representative examples include. a) Bond Counsel Fee; this fee will usually b, a minimum of approximately $10,000 and may range upwards to 1 % of the face arnount of the issue for smaller issues and lesser amounts for larger issues, depending upon the complexity of the financing. b) Local Counsel Fee'. varies. c) Financial Commitment or Underwriting Fees; 2`1/o of the face amount of the issue. d) Issuing Agency Fee, the Dade County Industrial Development Authority charges a financing fee of 0.5% of the face amount of the issue to a maximum of $10,000, e) Others; other fees, if required, vary considerably and should be determined on an individual basis. Most Industrial Revenue Bond issues processed through the Dade County Industrial Development Authority will require approximately 90 to 150 days from the point of initial processing to closing when bond proceeds will be available, providing however, that validation is not required. If validation is required, this time period will be increased by 30 days. Included in this time period is the controlling date which establishes the project's tax exempt status. This date is termed the date of ''official action'' or ''inducement''. Official action by the Authority is required by the Internal Revenue Code and is established by the execution of an agreement which states that in return for the Industrial Development Authority agreeing to finance the proposed project with Industrial Development Revenue Bonds, the company is induced to proceed with the project which will impart certain economic benefits to the community. Any expenditure or commitment to expend funds on the project such as land contracts. equipment orders, etc., made prior to the date of inducement cannot be financed with the proceeds of IDRB's. Generally, official action will require approximately 6 to 8 weeks from the date of initial processing. The procedures for processing a revenue bond project in Dade County are included in the following section. Robert B. Schyberg Executive Vice President 5 Waterford Park H, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394-1300 6 Dade County Industrial Development Authority Guidelines and procedures for the Issuance of Industrial Development Revenue Bonds (as adopted March 12, 1980) In order to facilitate the Issuance of Industrial Development Revenue Bonds for the purpose of enhancing the economic well-being of the residents of Dade County, the Dade County Industrial Development Authority hereby adopts the following Guidelines and Procedures to be complied with In the Issuance of such bonds, r,- Robert B. Schyberq Executive Vice President RBS:ac enclosure Waterford Park H, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394-1300 Guidelines + I. Use of Bond Proceeds The use of proceeds realized from the sale of Industrial Development Revenue Bonds shall be governed by the appropriate regulations and statutes of the U.S. Internal Revenue Code and the State of Florida. In general, costs permitted to be financed include: a) The cost of acquisition of property, including rights in land and other property, both real and personal and improved and unimproved; b) The cost of construction; c) The cost of demolishing, removing, or relocating any buildings or structures on lands so acquired; d) The cost of machinery and equipment; e) The cost of financing charges, interest prior to and during construction; f) The cost of engineering and architectural surveys, plans and specifications; g) The cost of consultant and legal services directly related to the issuance of bonds; h) The cost of reimbursements to any state or other governmental agency for expenditures directly related to the project; and, i) The cost of other expenses necessary or incidental to determining the feasibility or practicability of such construction, acquisition, demolishing, removing or relocating. 2. Financial Structure a) Prior to the authorization of the issuance of Industrial Development Revenue Bonds, the industrial Development Authority, as required by Florida Statutes, shall review the financial soundness of the proposed project and of the applicant. The Authority may at its discretion, require that the applicant provide a portion of the cost of the project to be financed. b) The legal structure of the proposed financing may take such forms as permitted by the various Federal and State statutes in effect at the time of the closing of the bond(s) Included among such approved forms are leases, sale and lease back, lease and lease back, and installment purchases. c) As a rule, the industrial Development Authority will require that assets to be financed with the proceeds of Industrial Development Revenue Bonds be pledged as security for the repayment of the bond(s). d) If the project to be financed is for a subsidiary of a larger parent company, the Industrial Development Authority desires that the parent company serve as the guarantor of the bond(s). e) The user of facilities financed by Industrial Development Revenue Bonds shall pay, as they become due, all taxes, fees, and other assessments levied upon the facilities financed with the proceeds of the bond(s) by all state, county, and local governmental agencies having jurisdiction over the facilities as if the facilities were owned by the user. f) Upon formal application, applicant shall remit an application fee of $700.00, This fee will be placed in escrow and used to pay processing expenses as incurred. Should such expenses be greater than $700 00, an additional charge equal to the amount in excess of $700.00 will be made prior to further processing of the application. g) At the closing of the bond(s), a financing fee will be due and shall be equal to 0.5% of the amount raised through the issuance of Industrial Development Revenue Bonds up to a maximum of $10,000. 7 Robert B. Schyberg Executive Vice President RBS:ac enclosure Waterford Park 0, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 procedures I - Application Application for the issuance of Industrial Development Revenue Bonds shall be made directly to the Dade County Industrial Development Authority upon company letterhead and shall include the following information: a) Company name, parent company name, names of principal operating officers, business address, and telephone number. b) Specific amount in U.S. dollars being requested to be raised by issuance of Industrial Development Revenue Bonds. c) A brief description of the company, its history and operations. d) A brief statement describing the uses (land acquisition, construction, equipment, etc.) to which bond proceeds will be put. e) A statement indicating the applicant's estimate of company performance as a result of new investment made possible by Industrial Development Revenue Bonds including new employment, or existing employment to be preserved. f) A statement indicating the proposed security and guarantor of the bond(s). g) Statement as to the proposed method of sale of the bond(s). h) Audited statements of the applicant's financial condition and company performance for the preceding three (3) years. i) Statement of expected economic impact of the project. i.e., existing employment, new jobs created, new capital investment, socio-economic impact on local areas, etc. 2. Application Review The application for Industrial Development Revenue Bonds (IDRB's) will be received and reviewed by the Industrial Development Authority executive director. The director shall conduct an initial analysis of the application and will prepare a report to the Authority commenting specifically upon the following items: a) Accuracy of application; b) Description of the company and the proposed project; c) A brief assessment of the soundness of both the applicant's proposed project and applicant's financial condition; d) Legal conformance of the project with applicable federal, state, and local statutes, policies, and guidelines; e) Potential impact of the project upon the Dade County economy vis-a-vis new construction, new jobs, etc.; and f) Other areas of concern as the director shall consider significant. When complete, the director's report and the application shall be presented to the Industrial Development Authority for initial consideration. If accepted for further evaluation, the Authority may instruct the director to perform or cause to be performed an in-depth analysis of the project as to its: a) Financial soundness; b) Conformance with legal restrictions governing IDRB's; and c) Economic and environmental impact upon Dade County. At minimum, the in-depth analysis shall include review by the County's Finance Department and Attorney's Office. Upon completion of the in-depth analysis, the director shall schedule the application and all pertinent data thus far generated for a second review by the Authority. After deliberation, the Authority may, if it decides that the project is sound and will enure to the benefit of the residents of Dade County, adopt a resolution to authorize the Chairman and Secretary to sign a Memorandum of Agreement between the Authority and the applicant specifying the terms under which the Industrial Development Authority will issue its Industrial Development Revenue Bond and inducing the company to proceed with the project. Conversely, the Authority may decide that it requires additional information prior to a final determination and may instruct the director as to its requirements or it may decline to consider the application further and suggest that the applicant seek alternative sources of financing. vt���.ca ciY 1 Robert B. Schyberg Executive Vice President RBS:ac enclosure Waterford Park Be Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 Those applicants for which an agreement to issue bonds is entered into by the Authority will be forwarded on to the County Commission for its review. The Authority's resolution shall be considered effective upon execution, however, it reserves the right to rescind its approval should the Commission by majority vote, veto the project. 3. Preparation of Bond Documents After review and approval by the County Commission, the Authority executive director, in consultation with the County Attorney, the applicant, bond underwriter or purchaser and bond counsel shall initiate appropriate steps leading to the final preparation of the bond documents and the sale of the bonds. 4. Sale of Bonds The action of the Authority in entering into a Memorandum of Agreement with the applicant for the issuance of Industrial Development Revenue Bonds should not be construed as indicating the marketability of the bonds, but rather, that the Authority will issue its bonds only if a willing purchaser can be found and upon the execution of bond sale documents mutually agreeable to all parties thereto. As the obligation for repayment of Industrial Development Revenue Bonds rests solely with the applicant, and neither the Authority, the County, the State, nor any municipality therein is responsible for their repayment or any associated expense, it is the policy of the Authority that subject to the conditions contained herein or as may be adopted at a later date, the manner in which the bonds shall be sold, so long as complying with all applicable federal and state statutes shall be the prerogative of the applicant. The Authority reserves the right to review the credentials of any investor, financial institution or investment banker chosen and to reject the same upon good cause shown. In general, prospective bond issues not considered of investment grade quality may be sold only at private sale or by limited public offering in bond denominations of not less than $25,000 each. Prospective issues of investment grade quality may be sold at public or private sale in bond denominations of not less than $5,000 each. Investment grade quality shall be determined as meeting one of the following tests: 1. A rating of the issue equivalent to or better than Moody's Baa or Standard and Poor's BBB. 2. A rating of recently issued debt instrument(s) of the company of similar term and security as that of the prospective bond issue equivalent to or better than that stated above. The Dade County Finance Director shall assist in determining if such recent prior rating is of sufficient currency to indicate present investment quality. For purposes of this paragraph, the term "limited public offering'' shall be defined as an offering made only to institutional investors, not more than 35 in number. The intent of this paragraph is applicable not only to the initial sale of the bonds, but to resales, if any, in secondary markets and shall be incorporated in the bond sale documents. The Authority shall not recommend nor suggest to the applicant, any investor, financial institution, or investment banker to be used in the sale of bonds. If, however, requested by the applicant, the Authority may provide the applicant with a list of investors, financial institutions and investment bankers who may from time to time advise the Authority of their interest in purchasing or placing the Authority's Industrial Development Revenue Bonds. S. Bond Counsel and Preparation of Bond Sale Documents It is the policy of the Industrial Development Authority that the legal firm serving as bond counsel for the sale of Dade County special and general obligation bonds at the time of initial application for Industrial Development Revenue Bonds shall also serve as bond counsel for the sale of the Authority's bonds, provided, however that such firm is also recognized as having expertise in the field of Industrial Development Revenue Bond financing. The applicant, however, at its request and expense, may employ the additional services of other legal counsel who, if recognized as having expertise in the field of Industrial Development Revenue Bond financing, may serve as co -bond counsel. The preparation of all documents necessary for the sale of bonds shall be performed by bond counsel selected by the Authority. 0 Robert B. Schyberg Executive Vice President RBS:ac enclosure Waterford Park 11, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 9 (404) 394-1300 Procedures 6- Disposition of Proceeds of Bond Sale Following the sale of the bonds, the proceeds will be deposited with the Trustee for the bond holders or in a trust account, to be disbursed for the acquisition and or construction of the project according to a schedule provided in one or more of the bond sale documents. The Authority will be •- concerned with the disposition of the proceeds to the extent that they are used for items allowed by governing statutes and portions of the project as authorized in the Memorandum of Agreement and .� bond sale documents. To this end the Authority requires that it be furnished with copies of all requisitions for the expenditure of bond proceeds. 7. Bond Validation w•- If deemed desirable or necessary by the parties to the bond issue, the bonds may be validated in the manner prescribed by appropriate State of Florida Statute(s) The Industrial Development Authority reserves the right to waive any of the aforesaid Guidelines and Procedures upon good cause shown by County or Authority personnel or by any corporation, firm, or business concerned with the proposed Industrial Development Revenue Bond issue, except that provision requiring County Commiss-on review prior to the closing of Industrial Development Revenue Bonds. RBS:ac enclosure •)l IM, Cl Cl Y, -0-20-171 Robert B. Schyberg Executive Vice President Waterford Park II, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 (404) 394-1300 IDRB's TIMING DIAGRAM APPROXIMATE TIME 2-3 WEEKS 2-4 WEEKS RBS:ac enclosure APPL. RECEIVED FOR IDRB'S REVIEW OF APPL BY IDA DIRECTOR AND PREPARATION OF INITIAL PRESENTATION I INITIAL PRESENTATION TO IDA IN-DEPTH ANALYSIS, SUBMISSION TO COUNTY ATTORNEY, FINANCE DEPT., BOND COUNSEL FOR REVIEW AND COMMENT I SECOND PRESENTATION TO IDA I YES MEMO OF AGREEMENT EXECUTED BY IDA 6 APPLICANT REVIEW BY COUNTY COMMISSIO YES BOND COUNSEL PREPARES BOND DOCUMENTS FOR SALE OF BONDS VALIDATION (if required) YES rl_OSING OF BOND ISSUE ALTERNATIVE NO SOURCES OF FINANCING NO NO J1lll-CL C1Y Robert B. Schyberg Executive Vice President Waterford Park A, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 Dade County Industrial Development Authority 12 The Dode County Industrial Development Authority provides complete industrial location and exp 1ssistance to both existing and new industry. Among services offered by the Authority include a) Industrial Client Expansion Relocation Assistance b) Industrial Development Revenue Bond Financing c) General Demographic and Special Socio-Economic Information Service d) Special Business Climate Studies e) Assistance in Identifying and Procuring Work Force f) Federal Financial Referral Assistance g) Labor Training Assistance h) Facilities Development Assistance Additional information regarding Industrial Development Revenue Bond Financing and other subjects of an economic or industrial development nature may be obtained by contacting the Authority offices. Metropolitan Dade County Industrial Development Authority 44 West Flagler Street, Suite 2550 Miami, Florida 33130 Phone (305) 579-3764 J 11luC1 Ci y , Robert B. Schyberg Executive Vice President RBS:ac enclosure Waterford Park II, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394.1300 --mMETRO DADE Lv � A • Dade County Industrial Development Authority 44 West Flagler Street, Suite 2550 Miami, Florida 33130 305-579-3764 RBS:ac enclosure J1I14CICly, Robert B. Schyberg Executive Vice President Waterford Park U, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 0 (404) 394-1300 Southern Health Services, Inc. October 1, 1980 Mr. nonald i. Mitchell Caribbean Peal.ty Croup Suite 16-C 1400 Tenth Avenue Miami, Florida 33136 Dear M.r. Mitchell: Thank you for sending the recent update on your Jackson Towers :,ursinq and Convalescent Center. Our Company develops, owns and/or manacles hospitals, nurs- ina homes and retirement centers. We are most interested in providing professional management services for the project. [•e are equally in- terested in any possibility o` joint venture on the pro- ject. Our organization has been involved in several similar projects recently and we do have considerable background and experience with tax-exempt financing. we can certainly relate to your strong emphasis on the $10 million maximum Bond Issue. Also, we are familiar with Amherst Associates by virtue of their past work in feasibility studies and would highly recommend that firm for their responsive- ness and thoroughness. I would be pleased to come to Miami and discuss this interesting project with you at your convenience. En- closed is an overview of our Company for your information. Sincerely, Robert B. Schyberg Executive Vice President RBS:ac enclosure Waterford Park I1, Suite 110 4480 N. Shallowford Road, Atlanta, Georgia 30338 • (404) 394-1300 Fof — ,. MEDIPLEX, INC. UJ W P O BOX 3707 JACKSON. MISSISSIPPI 39207 !III[KIII.V L IICA_i PHONE (601 ) 948-661 7 July 22, 1980 fir. Don ?titc}1e11 1400 `;.W. 10th Avenue Miami, Florida 33136 Dear Don: I enjoyed visiting with you by phone today regarding —_ your project in Miami. I am enclosing some information about Mediplex that I think you will find interesting. Our current plans involve building 150 continuing care — units in conjunction with our 120—bed nursing home in Melbourne, Florida. This nursing home is scheduled for opening in August, 1980, and the continuing care construction should begin around October 1, 1980. We have just received a certificate of need for a 180—bed nursing home in Orlando, Florida, and we are also planning to build a continuing care center in conjunction with this facility. Peter Whittier is familiar with our company and seems to have a high regard for our management capabilities and the progress we have made through the years. It sounds as if you have a very exciting project with the multi levels of care you propose, and we will be very interested in being a part of such a project. As soon as you _ have had time to review our material, give us a call so that we can plan a time to get together and discuss your project. r TH:moa Enclosures Sincerely, MED�F.X, INC. Thad Hawkins Chairman of the Board �i 7AA , t � April 21, 1980 .',r. Donald A. Mitchell D. iA. Mlitchell Associates 1400 %. W . Tenth Avenue Suite 16-C Miami, Florida 33136 Dear ."-1r. 'Mitchell: Re: April 14 letter concerninc; certificate of need for 288 S13C/ICF beds t•de have not been involved in the Miami area in the past but would be willing to discuss further details with you. Possibly we could structure something along the lines of your putting the deal together and Beverly functioning as the management company. If you wish to pursue our possible interest along these lines, please let me know. I am enclosing our 1979 annual report so you will have some back(.4round information on our company. Sincerely, David Banks President DB:bb Enclosure tit. �.' E H L Y L "J i Y {i , c: E S :. • i'.. ,, t, n