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Home My WebLink About09-00164 02-23-2009 Submittal-Mikado projectM At11 I U1IRII1 I.• 1ST ( OAST RI AI tY SONESTA COLLF ( : T ION HOTELS RESORTS CRUISES SUBMITTED INTO THE PUBLIC RECORD FOR ITEM ON 02-93-09. FLORIDA EAST COAST REALTY, INC. POST OFFICE Box 012949 • M[AMI. FLORIDA 33101 TEL (305) 358-7710 • FAX: (305) 358-1619 February 19, 2009 Honorable Manny Diaz, Mayor, Commissioners & Omni Redevelopment District CRA City of Miami 3500 Pan American Drive Miami, FL 33133 Re: Sonesta Mikado Hotel Offices and Residences Dear Mayor Diaz, Commissioners & Omni Redevelopment District CRA: It is with personal great regret that 1 am not able to be with you today as you consider our request for Tax Increment Financing for the Mikado development. Your approval today will allow us to continue to develop a bold new project to enhance Miami's Omni Redevelopment District. Our Mikado Project is 'shovel ready' to begin construction upon approval of this request. As you know, our company has pioneered within this Redevelopment area for more than 40 years with a single-minded purpose to create a total living environment with the excitement, sophistication, and convenience of city living fused with the natural elements of Miami that make it famous; its sun, sea and sky. Our perseverance to create a new cityscape in this district has created an alternative to the suburban commute, with the creation of a total living environment. Our efforts from 1968 to 1990 included the original OMNI Mall and Hotel, the Sealsle Marina, Biscayne Bay Marriott Hotel, Venetia Condominium, the Grand Condominium, Double Tree Hotel, and in this century, Bay Parc Plaza, and Opera Tower. Our confidence in our City and this District represents an investment of more than two billion ($2,000,000,000) dollars, and includes more than 2,000 homes and 3,500 residents, and more than 4.500 permanent jobs, and countless numbers of increased visitors and tourism. We endeavored to establish a great place to live, and play as well as work and we have continued through multiple real estate cycles, including exceptionally good ones and extraordinarily bad ones, and it is now that I seek your help to complete our final effort in our 40 year trek. We desire to construct a new 35 story true mixed use high-rise development that will contain an ultra modem full service Sonesta Hotel with 252 keys, ballrooms and meeting rooms as well as a destination health spa facility; 2 full floors of Class A office, containing approximately 40,000 square feet, and 119 suite residences. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk ONE BAYFRONT PLAZA • 100 SOUTH BISCAYNE BOULEVARD, SUITE 900, MIAMI. FLORIDA 33131 The development will also have a 6 level parking garage to support the project and provide additional parking for other uses in the area. All of the elements of the project have been designed to incorporate features that are technologically advanced, as well as being "GREEN" certified, and have been done with careful consideration of how we will impact the City and our neighbors. Our project will generate approximately 300 new construction jobs immediately on ground breaking and we expect approximately 250 new permanent jobs within the project. The newly created employment opportunities, for both skilled and unskilled labor will be drawn from those who reside within the Omni Redevelopment District. We are seeking $ 16,000,000 of Tax Increment Financing that will allow us to move forward on this project. With great appreciation, Most.Sincerely Tibor Hollo Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk FLORIDA EAST COAST REALTY, INC. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO Hotel, Offices and Tower Suites Tax Increment Financing Request Contents 1. Nature of Request 2. Project Overview 3. Renderings 4. Site Location map 5. Developer Background 6. Project Team 7. Hotel Operator - SONESTA 8. Projected Staffing and Payroll 9. Building Permit Application 10. MIKADO Property Tax Projections 11. Recent FECR Projects Tax History 12. List of Developments Within OMNI CRA 13.Warranty Deed 14. Certificate of Good Standing 15.Project Data Sheets and Elevations 16. MIKADO Proposed Marketing Material Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL PROJECT NATURE OF REQUEST Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk February 23, 2009 MIKADO Hotel, Office and Tower Suites On behalf of Tibor Hollo, and Florida East Coast Realty, Inc. we come to the OMNI Redevelopment District CRA to request this Agency to provide a Tax Increment Financing incentive of $16,000,000 to be used toward the development of our newest project, MIKADO in this District. MIKADO is designed as a new 36 story, true mixed use high-rise development that will contain an ultra modern full service Hotel with 252 keys, ballrooms and meeting rooms as well as a destination health spa facility; 2 full floors of Class A office, containing approximately 40,000 square feet, and 119 tower suite residences. The development will also have a 6 level parking garage to support the project and provide additional parking for other uses in the area. The project will be managed by SONESTA Hotels, International, an operator with an impeccable reputation and extensive experience in Miami and throughout the world. We have worked over the past 40 years and invested more than $2 billion dollars in the OMNI Redevelopment District without requesting assistance from the CRA or City. However, in this current economic downturn and lending environment, we need to seek the assistance of a small contribution from the CRA. With this assistance, we will be able to begin construction of MIKADO, which will be a major employment center, 24 hours a day, 7 days a week when completed in 2011 with more than 250 new, permanent, full time jobs. A minimum of 300 new construction jobs will be created upon groundbreaking which is anticipated to occur in 2009. Submitted into the public record in connection with items 46 on 2-23-1}9 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2_23-09 Priscilla A. Thompson City Clerk n: MIKADO HOTEL PROJECT OVERVIEW Prepared by: Florida East Coast Realty, Inc. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO Project Overview Located in the heart of Miami's Downtown Arts and Entertainment District, the MIKADO is mixed use development that features a 252 suite, full service luxury hotel managed by the world renowned Sonesta International Group, with a full amenity package including meeting, banquet and function rooms. Mikado also contains approximately 45,000 square feet of Class A condominium office space, and 119 luxury tower suite residences. In addition the project will include approximately 6,000 square feet of street level retail/commercial uses. The building is 36 stories high. Mikado fronts on NE 4th Avenue at NE 17th Terrace, and is less than one block from Biscayne Bay and Pace Park, a modern waterfront park facility with lighted tennis and volleyball courts, art walks and picnic areas. Mikado will provide additional hotel rooms for the vibrant Omni/Arts area and adds additional hotel rooms for the downtown market as well as the greater Miami area. The building is directly across the street from the highly successful Marriott, Hilton and Double Tree hotels, and will create a critical mass of hotel rooms that will serve the new ARSHT Performing Arts Center, convention and meeting business as well as the needs of downtown Miami. There have been no new hotel rooms added to the Omni area in more than 25 years. It is important to note that the Performing Arts Center Economic Impact findings indicate that more than 100,000 additional visitors from outside Miami -Dade County are projected to visit the Center in 2009, which spotlights the need for additional hotel rooms in this area. The building design accentuates the curvature of the street along the property lines and is situated so as retain the lines of sight of adjacent buildings and lessen its impact. The street level Hotel and Office lobbies include a destination gourmet restaurant and boutique and are designed as a colonnade to convey a comfortable and compatible "curb -appeal" ambiance that will encourage pedestrians to walk and enjoy the city scene of the neighborhood. Two office levels are incorporated into the building pedestal and provide "an eye on the street" to add a life to the building on the lower levels. Geometric designed openings that are illuminated with colors at night de-emphasize the parking garage levels so as to reduce the impact of that element of the structure. The Hotel will include 252 suites incorporate a modern Japanese and pan-asian design and include recreation areas, two swimming pools, spa, health club and exercise gym, Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk meeting, function banquet rooms well as full "back of the house" elements necessary for its operation. The 119 condominium Suite Residences will occupy the uppermost floors and have separate elevator access to those floors together with a Penthouse level swimming pool Mikado will provide Valet Only service with parking for 400 vehicles. The Hotel, Office suites luxury Suite Residences will be fully complimented with deluxe amenities and features: • Elegant Lobby • Elegantly furnished hotel rooms and suites. • Meeting and function rooms as well as generous pre -function areas. • Lushly landscaped ground level, and two recreation deck areas. • Penthouse sun deck and pool • Sophisticated electronic security system throughout the building. • Digital satellite TV, and multiple telephone lines • Dedicated "ethernet" high speed internet connections. • Large balconies • Full window and door shades or blinds. • 24 hour uniformed security service. • Valet Service. • High speed electronic elevators. • Convenience shopping on premises. Health Spa and Fitness center. • Concierge service. • Experienced, multi-lingual, courteous and professional management. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk l Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL RENDERINGS Prepared By: Zyscovich Inc. 100 Norh Biscayne Blvd. 27th Floor Miami, Florida 33131 Submitted into the public record in connection with items -46 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk • • • _ IINFIEll wnia INN MIN -- me me _CIMINO MN NMI MI Submitted into the public record in connection with items #6 on 2 23-09 Priscilla A. Thompson City Clerk MENU ,41 T n 1 Submitted into the public record in connection with items 46 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 , Priscilla A. Thompson City Clerk MIKADO HOTEL SITE LOCATION MAP Prepared by: Florida East Coast Realty, Inc. Submitted into the public record in connection with items #6 on 2-23-09 Priscilla A. Thompson City Clerk NE 19th Street A Submitted into the public record in connection with items #6 on 2-23-09 Priscilla A. Thompson City Clerk PROJECT LOCATION MAI" T KOmley-Hom —and Associates, Inc, 63 1 gl :-1 1 1 7• 1 ,111 AMMER lc ;nolo" MEV • 0L • 10 6r • S • 1. • • E ^^jjNtat 44.,am 9 1:N.E .44e" 18 MPS a TO A w BISCAYNE FEDERAL PLAZA AMENDED (109-77) TRACT °AID J W Z r4 /1+ m aim :t iC •V Si 13 tiro A.7 E +1 • Tu• 0 II 4 a. Or 1t W r711 / 1 l 114 (19 1.. A• • ar OA o. 10 T1 PARK N41 or- 0 .00 •1 dicnCE.1 HASE 111 Ast i14.7 OM N I ro6r_r 1 M. E )s.. •• 13010 a ASc rea_Y opFlorida East (rest Realty, Inc. i • • t: N.E. PR CBD 1NTE- ATIorAL. I0: -3 IrQn •r g s4 12-Z4n PLAZA VENETIA MU I (107T.I ) TRACT A• o) cr (0 LiJ Z 0 1 W ,a <4. Ca Y i N C 7 1 A A CAu1twA 4144, Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Zoning Mop Miramar Centre Phase II & 111 Miami, Florida 1 f 1 45- NTS ZYSCOVICH Submitted into the public record in connection with items €ib on 2-23-09 . Priscilla A. Thompson City Clerk v MIKADO HOTEL DEVELOPER BACKGROUND Prepared By: Florida East Coast Realty Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Florida East Coast Realty, Inc. Company Profile Florida East Coast Realty, Inc. and its related entities have been a presence in the State of Florida for over fifty five years. The company is responsible for developing in excess of 55 million square feet of construction consisting of single-family homes, residential and commercial high-rises, government buildings, marinas, high -end retail centers, warehouse complexes and telecommunications centers. From its beginnings on the Treasure Coast and for over tfty five years in the Miami area, FECR has built. owned and managed a wide array of residential and commercial properties. Currently, the company is developing 2020 Ponce, an upscale Class -A office condominium in Coral Gables. Completed projects include Bay Parc Plaza, downtown's premier rental property; the elegant Quayside Townhomes, a cluster of sixty magnificent condominium units on Biscayne Bay; and The Club at Brickell Bay, a 643 unit luxury condominium. Opera Tower, a landmark project just north of the new Performing Arts Center was recently completed. Over the years, the company has owned and managed high-rise office/retail complexes on Brickell Avenue and in downtown Miami, as well as constructed three buildings for the Federal Government. More recently, FECR has delved into the telecommunications industry with the development of the Miami Data Vault, home to some of the nation's most renowned providers of technical services. With new ideas and projects on the drawing board, Mr. Hollo and Florida East Coast Realty are eager and ready to venture well into the 2151 century. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk TIBOR HOLLO BUSINESS BIOGRAPHY Tibor Hollo formed a general contracting company in 1949. While a contractor, his company maintained offices in New York, Detroit and later in Cape Canaveral. He achieved prominence in his field by 1956 when Fortune Magazine named him the nation's tenth largest contractor. Hollo's activities were largely devoted to commercial and apartment construction, although he was involved in the building of single family housing from time to time. Firmly established in Brevard County as well as in the north, Hollo set up a new firm in Miami, Florida East Coast Properties, Inc. of which he was the President and Chairman of the Board. This company, as opposed to general contracting, was primarily involved in development, management and investment building. Hollo's developments in the Miami area include such important residential buildings as Vizcaya Towers, Vizcaya North, Centre House, Tropicana East and Tropicana West Apartments, Twin Lakes Racquet Club, Plaza Venetia (recipient of the Second National Architectural Award), Venetia, Bay Parc Plaza and The Club at Brickell Bay. Among his commercial properties are several shopping centers and office buildings, Rivergate Plaza, a landmark building in Miami's financial district and the 888 Building also on prestigious Brickell Avenue. His projects include two United States Treasury Buildings and the United States Justice Department in the heart of Downtown Miami. The Bayshore Royal in Tampa was converted from a gracious and famous old hotel into a condominium apartment building. He built an elegant enclosed specialty shopping center in the DeerfieldlBoca Raton area called the Gallery Shoppes. In addition , one of Hollo's subsidiary companies manages a number of commercial and residential properties throughout the country. Mr. Hollo is the driving force responsible for pioneering the renaissance of the downtown Miami area. He was the developer of Venetia/Omni a one billion -dollar complex situated in the center of greater Miami on '"` Biscayne Bay. Omni began the transformation of a once lackluster midtown district into one of South Florida's most important centers of commerce and recreation. The Biscayne Bay Marriott Hotel & Marina, together with the newest phase, Hollo's 810-unit Grand Condominium, was sold to and marketed by Canadian developers. This 42-story mega structure includes 153 hotel suites, 80,000 square feet of commercial space, first class dining, an athletic club and spa, shopping facilities and sophisticated urban town residences, in a special tropical ambiance, all totaling 2,517,000 square feet. Mr. Hollo has developed more than 50 million square feet in Florida and in recognition of his vision and untiring efforts, on December 15, 1981, the United States Senate inducted him into the Congressional Record of the 97th Congress as an exceptional Floridian. Then again, on February 9, 2005, the U.S. House of Representatives recognized Sheila and Tibor Hollo for their outstanding civic achievements. Most notable is the acquisition of One Bayfront Plaza, the former Southeast Bank Building purchased by Hollo in 1986 and completely renovated. On the exterior, gold leaf and glass enclosures were placed, accenting the facade_ The 700,000 square foot building boasts a shopping arcade on the plaza level, a five - tier parking garage, five restaurants and creative space planning, custom designed for each tenant in the office tower. An exciting addition to the building, Ross Department Store, a national retail chain, received a Miami Visionary Award for Economic Development in 1994. In late October of 1995, the City commission of Hollywood, Florida approved a permit for the construction of a beachside, shopping center, which houses restaurants and retail space. The property, located at 200 — 300 North Surf Road on the Hollywood Beach Broadwalk, is the commencement of the type of development the City wants to establish. Named the Hobe Shops, its chic stores dramatize the marvelous beach location and have changed the face of the popular tourist haven, rivaling the famous Sobe, South Beach. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk In Orlando, Florida, Hollo constructed over 600, two three and four bedroom single family homes, modestly priced for individual ownership. This project has proven to be a very successful venture. Additional tracts of land have been purchased for future development in that locale. He is also developing a 544-lot tract for single residences in Miami. The tract contains 108 urban acres. En 1997, Hollo acquired the Mutual of Omaha Building, the premier landmark office building located at 1201 Brickell Avenue, which was subsequently renamed Colonnade Plaza. In keeping with the structure's unique design, he developed The Club at Brickell Bay, a 645-unit condominium tower which is situated immediately to the east of the office building. In 2000, Mr. Hallo introduced Bay Parc Plaza, the first residential hi -rise of the new millenium in the OMNINenetia area, with Opera Tower a fifty-eight story condominium with shops and restaurants slated for completion in June of 2007. Over the years, under Hollo's leadership, Florida East Coast Realty, Inc. has also been highly successful in its residential and commercial property management efforts for lenders, developers, savings banks and government agencies. In addition FECR has provided brokerage, consulting, and administrative services for the FDIC and other real estate administrators. In 1990, Hollo was officially recognized by his professional peers and by the City of Miami, and became the first recipient of the prestigious City of Miami Visionary Award for his numerous achievements. Despite the fact that he is usually engaged in several ambitious projects, Hollo manages to find time for civic and religious activities and, for many years, has served on various bank boards. He was a trustee of Third Century U.S.A., Miami's celebration of the Bicentennial. Hollo is also a member of the Society of Founders of the University of Miami and the Society of Founders of Mt. Sinai Hospital. Former Governor, Rueben Askew named him to Florida's Task Force on Housing and Community Affairs, as well as the Governor's Advisory Council on Factory -Built Housing, while former Miami Mayor Maurice Ferre appointed him a member of the Downtown Advisory Committee and the Committee on Ecology and Beautification. Mr. Hollo also served on the Executive Board as Trustee of Bany University, as a Director of the Latin Builders Association and supporter of the University of Miami School of Architecture. Tremendously patriotic and interested in government at all levels, Hollo was appointed to the City of Miami Beach's Ad Hoc Committee for Economic Adjustment Strategy. Tibor Hollo says, "This country means a great deal to me and mine and I consider it my duty as well as my privilege to participate in its government to whatever extent I am able." Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk FECR RECENT PROJECTS Since 2000 2020 Ponce Office Condominium 150,000 sq condo CLASS A office, to be delivered January 2009, Coral Gables FL Opera Tower 60 Story Luxury Condominium Tower, 635 units with Retail; completed 2008; Miami The Club at Brickell Bay Plaza 45 story, 641 unit Luxury Condominium Tower with Retail, completed 2006, Brickell Area, Miami Colonnade Plaza Renovated Brickell Avenue Landmark Office Building with Gordon Beirsch Restaurant, Miami Mikado — Hotel. Office and Retail 40 story, 252 key Four Star Luxury Hotel and 119 Residential Condominiums — Scheduled for Construction 2009; Miami The Element Condominium 200 unit Highrise Luxury Condominium in NYC, NY; Complete 2008 Gulfstream Point Planned Mixed Use Development in Hallandale, Fl containing 75,000 square of Class A Office, and 302 room hotel. To be built. Villa Magna 2 Bayfront Towers, Mixed use project with 787 high end condominiums and townhomes, off Brickell Avenue, Miami, to be built Villa Majorca 36 Luxury Townhome project in Coral Gables, Fl — To Be Built 2009 Miami Data Vault The Miami Data Vault is South Florida's only true hurricane -proof data center and collocation facility. The 90,000 +/- square foot center was completed in 2000. One Bayfront Plaza Office Complex Renovation of Existing 18 story Office and Retail 350,000 square feet, ongoing Townhomes of Quayside Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk 48 Luxury Bayfront Townhomes, near Miami Shores, FL, completed 2005 Tropicana Development, St Petersburg FL 35 story, 150 Suite Four Star Hotel and 350 luxury condominiums; to be built The Sahara Palms, Las Vegas NV Upscale Highrise residential project with more than 2,500 units; To be built Bay Parc Plaza 35 story highrise Rental Apartment project containing 471 units in Miami, FL; completed in 2000 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Page 1 of 8 at&t 1 Developer Tibor Hollo Helped Build Miami An epic condo bust can't burst his bubble. By Tim Elfrink published: January 29, 2009 Michael McElroy Rollo enjoys a view of Bayfront Park from his office. Michael McElroy Hes renting condos in his latest project, the Opera Tower. Michael McElroy For 55 years, Hello has begun his day with a swim in Biscayne Bay. C. stiles Hollo's firm handled the rehab of the His thin, 81-year-old frame draped in a tan suit, his sharp eyes shaded by wraparound sunglasses, Tibor Rollo stands before a rusted fence bearing a spray -painted "No Trespassing" sign. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Beyond the chainlink, strewn with weed -choked bottles and crushed cans, two of the finest acres in Miami stretch to the edge of Biscayne Bay, where turquoise water laps against a concrete barrier and Fisher Island swims on the horizon. Hollo has just given it all away. He looks on quietly as Miami Commissioner Marc Sarnoff strides smiling to a shaded podium to announce the deal: For three years, the city gets the land for $1 a year and the promise to maintain a public park there. Mayor Manny Diaz applauds and grins for the cameras. After he watches the fanfare pass and firmly rejects an offer to name the place "Hollo Park," Tibor is blunt. "This is not the market to start a major project," he tells a reporter in his thick Hungarian accent. "At least someone will enjoy this place for a few years." No moment better captures the Zeitgeist of the South Florida condo bust than this, the legendary developer handing over land that his competitors would have killed for a few months ago. It's now nearly worthless, sunk by a burst bubble so profound that entire 30-story condo buildings rise dark above the bay and more than 25,00o units languish on the market. As much as anywhere in the United States, this region is ground zero for the real estate meltdown that has decimated the global economy and sunk this nation into its worst recession in 8o years. South Florida has seen more than $14.2 billion worth of property foreclosed in the past year alone — an all-time record. Owners sold a laughable 3 percent of more than 22,000 condos on the market in Broward County in the last months of 2008. Statewide, banks foreclosed on more than 261,000 homes last year. http://www.browardpalmbeach.com/content/printVersion/704878 7-l7171119 Page 2 of 8 But the numbers tell only part of the story. In places such as West Kendall landmark Kenann Scalding at and Miramar, whole blocks sit empty, spray -painted plywood slapped over Oakland Park Boulevard and Federal Highway. windows and saw grass creeping over driveways. Squatters and prostitution rings have moved into vacant homes. Companies hired to clean out abandoned residences pile belongings in front yards, letting neighbors pick through remnants of someone else's life. Signs of impending doom are everywhere, even in areas such as downtowns in Fort Lauderdale, Miami, and West Palm Beach, where huge banners offering cut-rate deals hang from high-rises. Condo boards have a hard time keeping vagrants out of the stairwells of half -empty buildings. Some landlords have become so desperate that they've taken to renting out luxury units to porn film crews at daily rates just to keep the lights on. Hollo has seen it all before. In fact, the building boom that preceded this bust would never have happened without the extraordinary vision of the Holocaust survivor who at age 29 moved to South Florida in the mid-1g5os and told anyone who would listen that, someday, white -picket -fence suburbs would fade and towering downtown condos would be the norm in the Magic City. Without Hollo, it's doubtful the skyline that defines list -century Fort Lauderdale and Miami — for better or for worse — would exist. Hollo knows local real estate as well as anyone — he has been through its booms and busts — and he is convinced the cities will bounce back. Indeed, he's betting everything that he's right and plunging millions of dollars into his next project: a thousand -foot tower downtown on Biscayne Boulevard. It would be the tallest ever built in South Florida. This is where to find the architect of modern Miami: past a faded black marble waiting room, around some unremarkable cubicles, and tucked into a corner on the ninth floor of a drab 19-story tower just south of Flagler Street on Biscayne Boulevard in Miami. It's an easy building to miss, sandwiched between two office towers twice as tall, decades newer, and sheathed in sparkling glass. For 20 years — ever since he bought and renovated the building — Hollo has worked here. This morning, he sits behind a wide wooden desk, near piles of paper rising around his keyboard. For one of South Florida's most successful entrepreneurs, it's a Spartan office; the closest thing to luxury is the long window with eye -popping, unobstructed vistas of Bayfront Park and the aquamarine bay dotted with sailboats. But Hollo tries not to dwell on the view. "I had to move my desk so it was facing away from these windows," Hollo says. "When I faced the outside and I could see all the ships coming in and going out, I would daydream all day long." From his first success, a small apai lucent tower with pointed concrete balconies just north of the Rickenbacker Causeway, to his latest project, the white cylindrical Opera Tower, Hollo has personally developed dozens of projects. His most notable in Fort Lauderdale is a major renovation of the landmark Kenann Building at Oakland Park Boulevard and Federal Highway that had fallen into disrepair. Hollo purchased the building in 1973 and completed renovations in 1975. In 1978, he resold it. Also in Broward County, his company developed two Wag's Restaurants — a now -extinct chain owned by Walgreens. All told, he has accounted for more than 55 million square feet of real estate. Yet the past 12 months have ranked among the toughest in Hollo's 55 years as a developer. He has sold http://www.browardpalmbeach.com/content/printVersion/704878 2/2/2009 Page 3 of 8 only about 38 percent of the condos in his multimillion -dollar Opera Tower, which opened last year. To stay above water an the building, he's renting out the rest of the units for as low as $95o a month. It's much worse for other developers who took out higher loans and presold fewer units. Condo owners and developers, desperate to get the cash flowing to keep mortgages and construction loans intact, are trying everything: giving away Lamborghinis and Mini Coopers with purchases, slashing prices in half, selling units in bulk packages to vulture firms or equity groups. Condo owners who bought at the top of the market, meanwhile, steam while their neighboring units are rented out at pennies on the dollar and their condo associations struggle to scrape together enough cash to keep basic services such as garbage collection and maintenance. Many now owe more on their mortgages than their condos are worth; others have simply succumbed to foreclosure. Hollo shakes his head and raises his voice above his usual smoky low register as he names those to blame for the latest mess: Wall Street tycoons, Palm Beach's Bernie Madoff, and bad investors. Even when he's angry, Hollo drips with congeniality, punctuating his jokes with a booming laugh and illustrating his points with personal stories from a long life. The ones most at fault in this bust, he says, are the inexperienced and the unscrupulous who flocked in droves to the region during the middle of this decade as subprime loans, lax oversight, and outright fraud pumped America's housing bubble to increasingly absurd heights. "There are lots of professional developers in the industry, and some of them are very good," Hollo says. "But there are also lots of what I call 'dentists from New York' who don't know a damned thing. They could see people were making money here, so they buy land and they jump into business without knowing anything." South Florida's condo market followed the nationwide housing frenzy that gripped the United States after the post-9f u mini -recession ended in 2002. With mortgage giants Fannie Mae and Freddie Mac throwing around loans like party favors and banks following their lead, housing prices exploded. The area's bubble was one of the six or seven largest in the country, with homes appreciating by more than 8o percent between 2001 and 2006. As housing prices spiked, towering cranes climbed like kudzu from West Palm Beach to Miami. For four years, between 2002 and 2006, every "dentist from New York" with a few million to invest backed a project here. Construction began on dozens of new luxury condo high-rises, some with as many as a thousand units. Every week — sometimes every night — developers threw waterfront galas studded with celebrities and soaked with free champagne and cocktails while stunning architectural renderings of their grand plans flashed on movie screens. It wouldn't last. With a nearly audible pop, the housing bubble collapsed nationwide in late 2006. For South Florida's condo projects, the effect was devastating. Many had secured bank financing by preselling units to investors, who bought as many as they could while the market was rising, with plans to flip them. When credit disappeared, reams of those investors defaulted or lapsed into foreclosure. "It was the perfect storm of hype, fluff, and optimism, coupled with greed, avarice, and fraud that artificially inflated values and produced this overdevelopment," says Jack McCabe, a real estate consultant and researcher. Today, only a handful of new towers in South Florida have sold more than 8o percent, and some have sold less than half, according to Lucas Lechuga, a realtor who compiles condo closings on his website. Several are still trying to unload more than three -fourths of their condos. Submitted into the public record in connection with items #6 on 2-23-09 . http://www.browardpalmbeach.comlcontent/printVersion/704878 Priscilla A. Thompson rib, CLrlr Page 4 of 8 "I still think there's another round of foreclosures to come," Lechuga says. "We have another year, until the end of 2009, before we hit rock bottom. And then prices still aren't going to improve for a long while." Among the 21 condo buildings opened in the past two years that Lechuga has tracked, Hollo's Opera Tower has the fourth -lowest percentage of condos sold. But Hollo says he has weathered the storm thanks to the lessons he learned in the past. For one, his firm — Florida East Coast Realty — tackles only one project at a time and takes out comparatively low 40 percent bank loans. Many developers borrow at 80 or 90 percent of the cost of their project. The result of this prudent financing, Hollo says, is that he can rent units in the tower until they sell and still make his loan payments. There are no public records to confirm Hollo's cash flow. But no liens have been taken out against his company or the Opera Tower project, and he has never filed for bankruptcy. Real estate experts say his explanation of how he has survived the bust sounds reasonable. "Tibor's been through this process so many times," McCabe says, "it's possible he foresaw the crisis." "You know those animals in California who can sense an earthquake coming before it happens?" asks Tibor, clasping his bony hands behind his head and leaning back in a reclining desk chair. "This is the ninth time I've been through this cycle, and back in 2006, I got that feeling: Something is not right here." Tibor Hollo was born in 1927 in Budapest, Hungary, but grew up in France until Germany invaded Poland and World War II erupted across the continent. In early 1941, the Jewish Hollos were arrested and sent to Drancy, a concentration camp just outside Paris. Tibor was 14 years old. After a few months, the French shipped the Hollos to a Nazi death camp. The family was held briefly at Auschwitz, where Tibor and his father were separated from his mother. He never saw her again. "My mom, rest in peace, was killed before we were forced to march to Mauthausen, Austria," Hollo says. Hollo and his father survived the long, cold trek and found a way to survive at Mauthausen, a camp of 85,00o prisoners in northern Austria, until soldiers from the U.S. iith Armored Division arrived May 5, 1945. Even today, Hollo has difficulty talking about his time in Nazi hands. "I was very young, so it's hard to say what kind of effect the experience really had," Hollo says. "I was 14 when I went in and 17 when I came out. I know those are formative years, but I can't say if my time there changed me. How would I know?" After his liberation, Hollo made his way back to France, where he earned an architecture degree and saved enough money to buy sea passage to Ellis Island. He landed in New York with $18 in his pocket and a degree that impressed no one. He started work in a curtain factory and eventually found a job as an estimator for a general contractor. The company routinely turned down contracts on New York's rough waterfront, and as Hollo worked his new job, he came to a quick realization. "I found out that working the waterfront was difficult and very scummy work, and not many contractors would bid on it," Hollo says. "So after I put together a few hundred dollars, I quit and started my own firm and underbid the few contractors interested in that kind of work." http://www.browardpalmbeach.com/content/printVersion/704878 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Page 5 of 8 When Hollo showed that he could get projects completed on time and at a low cost and that he was willing to work in tough areas that didn't attract many other businesses, his workload exploded. A few bids in lower Manhattan turned into larger contracting projects around New York City, which turned into bids from Detroit to San Francisco. By 1956, Hollo's contracting company was one of the ten largest in the United States. But the work was also exhausting, and at 29 years old, Hollo decided it was time to start over. On a business trip to Florida to work on a project in Cape Canaveral, Hollo fell in love with the Sunshine State. He sold his contracting business, left New York, and moved to Miami, eager for a fresh start. He would use his savings to become a developer. His friends thought he was crazy. "Some people dream and conceive. And other people can put those dreams on paper, and that's the blueprint. And then other people can go out and realize the blueprint and make it reality," Hollo says. "But as a developer, I get to be all those people. I get to dream it and then make it real. It's incredibly satisfying, and that's what I wanted to do." When Hollo arrived in 1956, South Florida had already seen several dramatic cycles of boom and bust. For 13o years, gently swaying palm trees, clean ocean air, and miles of blue water had lured investors to Las Olas Boulevard, Biscayne Boulevard, Clematis Street, Atlantic Avenue, and South Beach. In the roaring '20S, developers built Mediterranean and Middle Eastern fantasies on canals east of downtown Fort Lauderdale, and dreamers dredged up the Everglades to build Boca Raton. But by the end of the decade, the party was over. Half -built subdivisions would rot and projects would fall into disrepair for almost 20 years, until the Great Depression and World War II had passed. Hollo's dream was to bend South Florida, then a still -budding metropolis, to his vision of the future. That vision wasn't shared by returning GIs who used their government pensions to move to faraway suburbs and buy big cars. But South Florida had only one direction to grow. "You can only grow north - south, not east -west, because of the water and the swamps," Hollo says. "And at some point, you're going to have to grow vertically, because you're going to run out of north -south." Hollo's career as a developer began modestly but successfully, with midtown office buildings and apartment complexes. As his business grew, he started lecturing at colleges about the day when high- rise, "multipurpose" buildings downtown would replace suburbs straddling the Everglades. Within five years, Hollo developed his first high-rise office tower, at 888 Brickell Ave. in Miami. That building's success showed the dream was possible. But it was in 1968 when his dream of a high-rise residential city took its biggest step forward. That year, he began a three-year effort to buy six city blocks of waterfront property next to the Venetian Causeway, a mostly blighted section that included a Rambler dealership, an old movie theater, and overgrown parking lots. Today, that area is known as the Omni/performing arts neighborhood. "This was an area of slum and blight," says Phil Yaffa, who spent 18 years as a top official in Hollo's company. "But he saw through that and realized that the future in this city was in a dense vertical concentration within the downtown area." At the time, downtown Miami boasted some hotels, big department stores, and office buildings but few residential areas. Hollo had a plan for his land by the bay: transform it into a place where people could live, work, and play. But to make it reality, he had to persuade city leaders to close streets in the area, change zoning laws, and offer huge tax breaks. It wasn't an easy sell in the still -suburb -crazy late '6os and early'7os. "I told them I wanted to make a multi -use building, where people can work, recreate, and live," Hollo says. "The city had no such things. You built an office building or a store or an apartment. It just wasn't in the vocabulary." Submitted into the public record in connection with items #6 on 2-23-09 . http://www.browardpalmbeach.com/contentlprintVersion/704878 Priscilla A. Thompson Page 6 of 8 Hollo found a vital ally in 1973, when Maurice Ferre, son of a Puerto Rican developer, was elected mayor of Miami. Ferre says he bought into Hollo's vision after their earliest meetings. "In those days, unlike today, overgrowth was not a factor," Ferre says. "There was just the opposite; there was no growth." With Ferre's backing, Hollo persuaded the City Commission to close two city blocks so he could build the Omni Mall and willed the commission into backing an 810-condo tower with a full marina. Hollo could be as tough behind the scenes as he was charming in public. According to a Miami Herald story, Hollo wanted i,000 units and threatened to abandon the whole project if the city, which wanted to green -light only 500, didn't cave. When a reporter asked what he'd do if the commission stood firm, he said: "I'll go fishing." Another major critic was Trinity Episcopal Church, which was surrounded by his massive project and didn't want a busy marina added to the nearby waterfront. But after a several -year battle over marina permits, Hollo won. "Whatever Tibor wanted, Tibor Hollo got," Minnette Massey, an attorney representing the cathedral, complained to the Herald at the time. But Ferre says he never had any regrets about supporting Hollo. "I always thought he was an honest and righteous guy, and there was no bullshit about him," says Ferre, who left the mayor's office in 1985. "He was a real charmer, but he wasn't a hullshitter, and there's a big difference. He had the courage to build this project, which was completely out of scale of what Miami was in those days." For all his courage, there's no doubt that Hollo has often been ahead of his time — or, to put it another way, has lacked timing — on some of his most ambitious projects. By the time his huge Venetia condominium hit the market in the late 1980s, South Florida was on the down end of one of its worst boom -and -bust cycles since the 1920s. The South American economy, which had driven mountains of investment in Miami, had completely collapsed. And by late 1988, two years after entering the market, Hollo had sold only 57 of the Venetia/Grand's 810 units, according to the Herald — a shockingly dismal 7 percent. "He was a little premature," says Matthew Schwartz, who was head of the Downtown Development Authority in the late '8os and early '9os. "I think financially he had a difficult few years because he was too far ahead of times." "It was devastating. It was a terrible, terrible time," Yaffa recalls. "We worked seven days a week, 12- hour days, trying to do everything we could to generate sufficient sales and to successfully complete this building." Hollo eventually reached an agreement with his bank, working out a three-way deal to transfer most of the building's ownership to a new group and reaping little of the financial benefit as the Venetia, along with the neighboring Grand, eventually turned into the successful complex it is today. But he also kept his business intact and lived to develop another day. "My bank, which was a wonderful bank, saw me really struggling and said... 'Why don't we make a deal?' " Hollo says. "It was a really tough time, but it taught me to be conservative. I can do one building at a time. Why do I need ten? I can buy my wife a glass of wine and go out to dinner; life is good, and one is enough." Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk http://www.browardpalmbeach.coniIcontent/printVersion/704816 a zi2009 Page 7 of 8 Despite those trying times, Hollo says he never lost faith in his core beliefs. Americans would eventually move back to their city centers. They would want to live and work in multi -use buildings with beautiful views and easy access to cultural events. It was just a matter of timing. Even with a new, even more troubled era dawning in South Florida, that faith hasn't faded. Hop onto a raft and motor through Biscayne Bay early some morning, just after the sunrise warms orange and pink into the slate sky, and head north along Miami Beach's shore just past Mount Sinai Medical Center. More than likely, Tibor Hollo will be there, slicing through the choppy water with the same methodical stroke that has carried him through the bay for 55 years. His path hugs the shoreline, parallel to the wooden docks, the million -dollar yachts, and the multimillionaires' mansions, his tanned and trim frame eventually circling back to the same home he built on North Bay Drive in the late 195os. Hollo's daily morning swims, as much as anything, convince him that South Florida's dark days will never linger. "We have more usable water here than any city in America," Hollo says. "I love all this water that's so warm year-round. I did some project in San Francisco, and it's surrounded by water, but it's not the same. I can't swim there!" But to many critics, there's a cost that has come with his vision. Early opponents of Hollo's Venetia/Grand complex complained that the bay -front high-rise acted as a wall between the city and its waterfront. Some detractors have questioned the artistry in his buildings, with one architect initially deriding the Venetia/Grand as an "elephant standing on a Ping-Pong table." "With the Grand, the Marriott, the Venetia, it's pretty generic stuff, not very distinctive," says Paul George, a historian with the Historical Museum of Southern Florida. Hollo has also had his tussles through the years. His style tends toward charm and deference in public, but he usually wins battles in private — such as when he overcame public outcry and many civic leaders' opposition to build the Venetia complex. Just last year, Hollo took a rare strong stand publicly, suing Lechuga, the real estate blogger, for $25 million for falsely reporting he'd gone bankrupt in the 198os. The two settled, and Lechuga posted a public apology to Hollo on his site last month. "A developer has to be a cheerleader, a visionary, and a gunslinger. If you don't have all three, it's not going to happen," says Peter Zalewski, founder and owner of Condo Vultures, a firm that buys distressed condos for a discount and resells to investors. "Tibor, without a doubt, is all three of those things." But as his predictions of a generation that would abandon the suburbs for downtown high-rises have come to pass, and as his decades of development have refined his style, Hollo's critics have mostly fallen by the wayside. Regardless of how South Florida got to this low point, Hollo says the real estate market will recover, probably in two years, but possibly not until 2011. He says that, eventually, the city's scores of empty condos will be full of people. And when that happens, he's betting that the market for downtown office space will be squeezed. And that's where his final project comes in, his lasting legacy to the city: 1 Bayfront Plaza. Submitted into the public record in connection with items 46 on 2-23-09 . http://www.browardpalmbeach.com/contentiprintVersion/704878 Priscilla A. Thompson Cily ('lark Page 8 of 8 On the very site at Biscayne Boulevard and Flagler Street where Hollo's comfortable if unremarkable office tower sits, he wants to construct a i,oio-foot, twisting, windblown sail of a building. He has already plunged $35 million into studies, permits, and architectural plans for what would be his masterwork. Those who know Hollo best say it's not the money or the prestige of such a massive project — the final cost is expected to reach $1.8 billion — that has excited the developer. "If it was up to Tibor, he would be driving a 20-year-old car and living in a modest home," Yaffa says. "I don't know if money ever motivated him as much as his sincere love of this business and the challenges and problems it presents and opportunity for him to meet those challenges." This is also the same guy who donated bay -front land to the city and then refused to let the park be named after him. Hollo says his primary motivation, in fact, is gratitude with a healthy dose of civic one-upsmanship. "Miami, for as far as it's come, does not have a signature building," Hallo says. "That's what t Bayfront Plaza can be. This city has given me an awful lot, and I want to give it an icon, to leave a Legacy for this city." But it's also simpler than that. Leaning back behind his desk, lost in a thick -knit brown sweater, Hollo says there's one motivation everyone overlooks: He's building South Florida's tallest tower because he knows it will work. "It's going to be the end of 2012 or the beginning of 2013 before construction begins," Hollo says. Construction will take about three years, so the building isn't likely to open before around 2016. "That's seven years. Christ, if this market isn't back on track seven years from now, you and I may as well both go shine apples for a living." Submitted into the public record in connection with items #6 on 2-23-09 Priscilla A. Thompson City Clerk http://www.browardpalrnbeach.com/contentlprintVersion/704878 2/2/2009 Q Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL PROJECT TEAM Prepared By: Florida East Coast Realty Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Owner: Developer: Architect: Interior Design: HOTEL MIKADO DIRECTORY OF PROJECT PRINCIPALS Hotel De L'Opera LLC 100 South Biscayne Boulevard, Suite 900 Miami, Florida 33131 Telephone: (305) 358-7710 Fax: (305) 358-1619 Mr. Tibor Hollo Florida East Coast Realty, Inc. 100 South Biscayne Boulevard, Suite 1100 Miami, Florida 33131 Telephone: (305) 358-7710 Fax: (305) 358-1619 Mr. Tibor Hollo, President Mr. Philip Dahan, Senior Vice President- Contact Zyscovich, Inc. 100 North Biscayne Boulevard, 27th Floor Miami, Florida 33131 Telephone: (305) 372-5222 Fax: (305) 577-4521 Bernard Zyscovich, AIA, Principal in Charge Ahmed Alvarez, AIA Project Architect Marco Marini, Project Architect- Contact Zyscovich, Inc. 100 North Biscayne Boulevard, 27th Floor Miami, Florida 33131 Telephone: (305) 372-5222 Fax: (305) 577-4521 Bernard Zyscovich, AIA, Principal in Charge Anabella Smith Principal Landscape Architect: Zyscovich, Inc. 100 North Biscayne Boulevard, 27th Floor Miami, FL 33131 Telephone: (305)372-5222 Fax: (305)577-4521 Carolyn Mitchell Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Legal: Hotel Operator: Martin Fine, Esq. Holland & Knight 701 Brickell Ave. Suite 3000 Miami, Florida 33131 Telephone: (305) 374-8500 Fax: (305) 789-7799 Martin Fine, Esq. Sonesta Collection 260 Crandon Boulevard Suite C-12 Key Biscayne, FL 33149 Telephone: (617)399-0693 Fax: (305)365-0511 Felix Madera President Sonesta Florida Marketing: Barrow Beber Silverstein 3361 SW 3rd Avenue Miami, FL 33145 Ph- 305-929-9795 Fax- 305-929-9787 Rick Barrow Submitted into the public record in connection with items 4#6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL HOTEL OPERATOR-SONESTA COLLECTION Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk SONESTA AN EXCLUSIVE COLLECTION OF FINE HOTELS AND RESORTS UNLIKE ANY OTHER. EACH PROPERTY PROMISES A RICH YET PROFOUNDLY UNIQUE EXPERIENCE TIED DISTINCTLY TO ITS DESTINATION. INTERNATIONAL IN REACH. CUSTOMIZED IN APPROACH. SONESTA TRULY OFFERS THE BEST OF BOTH WORLDS. THE STRENGTH OF A CHAIN AND THE PERSONAL TOUCH OF AN EXCLUSIVE GOLIE I ION. THE ADVANTAGE OF A STRONG BRAND, YET WITH THE FLEXIBILITY TO TAILOR OUR BUSINESS SERVICES TO MEET THE NEEDS OF OWNERS AND DEVELOPERS. 1 FOR OVER SIXTY YEARS, SONESTA IRS OWNED, MANAGED, DEVELOPED AND OPERATED A SELECT GROUP OF UPSCALE METROPOLITAN AND RESORT HOTELS IN SOME Of THE WORLDS MOST SPECTACULAR DESTINATIONS. WHETHER DEVELOPING A HOTEL FROM ITS INCEPTION OR ASSUMING MANAGEMENT OF AN EXISTING FACILITY, SONESTA STRIVES FOR UNIQUE SET ZINGS AND FIRST- CLASS SERVICE, COMBINED WITH MAXIMUM RETURNS TO OWNER. 3ornet/inj (Lai ui • MISSION TO EXCEED GUESTS EXPECTATIONS AND PROVIDE VALUE • RESULTS -ORIENTED AND RESPONSIVE • NICHE MARKETER IN THE HIGH -QUALITY, FIRST-CLASS HOTEL CATEGORY • INTERNATIONAL EXPERIENCE ACCUSTOMED TO OPERATING IN DIVERSE CULTURES Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk WITH SONESTA, OWNERS AND DEVELOPERS COME FIRST. WE UNDERSTAND OWNERS' PRIORITIES BECAUSE WERE OWNERS OURSELVES. WE KNOW THAT AN OWNERS INATSTMENT IS MEASURED IN MANY WAYS, AND THAT AN OWNERS VISION MUST BE OUR VISION. THAT'S WHY WE THINK LONGTERM. WHETHER DESIGNING A NEW HOTEL FROM SCRATCH, RENOVATING AN EXISTING PROPERTY, OR REPOSITIONING A HOTEL, OUR GOAL IS TO MAXIMIZE PROFITABILITY. CONDOMINIUM HOTEL ExPERTs. SONESTA HAS BEEN AT THE FOREFRONT OF THE CONDOMINIUM HOTEL PHENOMENON. WE UNDERSTAND THE LEGAL, PRACTICAL, AND BUSINESS CHALLENGES OF CREATING OR CONVERTING; TO THESE COMPLEX STRUC, I URES. WHETHER DEVELOPING EFFECT -NE RENTAL PROGRAMS, IMPLEMENTING A ROTATION SYSTEM, ALLOCATING EXPENSES, OR NAVIGATING THE OFTEN HAZARDOUS SEA OF LEGAL DO'S AND DON'TS, SONESTA HAS THE EXPERIENCE AND KNOW-HOW TO MAXIMIZE THE SUCCESS OF A CONDO HOTEL - FOR DEVELOPERS, UNIT OWNERS, GUESTS AND STAFF. • UNIQUE INDEPENDENCE • OFFERING OWNERSHIP A WIDE RANGE OF MANAGEMENT OPTIONS • PUBLIC COMPANY • CONSISTENT VISION AND DIRECTION • FULLY ACCOUNTABLE a Cexii e &and wait a • A SUCCESSFUL RESORT AND CITY HOTEL OPERATOR WITH SPA, CASINO AND CONDOMINIUM -HOTEL EXPERIENCE • CUSTOMIZED WEB DEVELOPMENT AND POSITIONING • REGIONAL SALES OFFICES • A CORPORATE REVENUE MANAGEMENT DEPARTMENT OFFERING EXPERTISE IN PROPERTY MANAGEMENT SYSTEMS Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk SALES. MARKETING. ADVERTISING. CENTRAL RESERVATIONS SYSTEM. PUBLIC RELATIONS. INTERNET. HUMAN RESOURCES & TRAINING. WERE WITH YOLI ALL THE WAY, WITH SUPPORT SYSTEMS DESIGNED TO CREATE PROFITS. As A CHAIN, SONESTA PROVIDES CORPORATE SERVICES USUALLY FOUND ONLY IN MUCH LARGER HOTEL MANAGEMENT COMPANIES: DEDICATED REGIONAL SALES REPRESENTATION, BULK PURCHASING, REVENUE MANAGEMENT, TECH NOLOGY/INFORMATION SERVICES, ADVANCED HUMAN RESOURCES AND TRAININC, AND A SOPHISTICATED RESERVATIONS SYSTEM — BOTH DOMESTIC AND INTERNATIONAL. FLEXIBILITY AND ACCESSIBILITY ARE OUR STRENGTHS. As A SMALLER COMPANY — YET WITH THE RESOURCES AND REPUTATION OF A MUCH LARGER CHAIN — WERE ABLE TO LIVE OUR HOTELS CLOSE PERSONAL ATTENTION AND SUPPORT. SONESTAS SIZE ALSO MEANS THAT TOP MANAGEMENT IS ACCESSIBLE TO OWNERS, DEVELOPERS AND THEIR LENDERS FOR REGULAR DIALOGUE AND CONSULTATION. CREATIVITY IN DESIGN AND INNOVATION IN MARKETING AND OPERATIONS HAVE RESULTED IN SONESTAS HOTELS BEING AMONG THE LEADERS IN TERMS OF AVERAGE ROOM RATE, OCCUPANCY AND REPUTATION IN THEIR RESPECTIVE LOCATIONS. SONESTA IS A BRAND THAT CONTINUES TO EARN RECOGNITION FOR EXCELLENCE INDUSTRY -WIDE, WITH AWARDS THAT INCLUDE MEETINGS AND CONVENTIONS' GOLD KEY- AND SUCCESSFUL MEETING'S PINNACLE AWARD: SONESTAS RESORTS HAVE ALSO BEEN RANKED AS -BEST PLACES TO STAY IN THE WORLD BY CONDE NAST TRAVELER, AND HAVE BEEN NAMED -BEST FAMILY RESORTS BY PARENTS MAGAZINE AND -BEST SPAS- BY TRAVEL & LEISURE. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk we have a penc`iant foi • EXTENSIVE TRAINING THROUGH OUR HIGHLY RESPECTED SUBSIDIARY TRAINING BY DESIGN. • STRONG CUSTOMER RELATIONSHIPS ESPECIALLY WITH MEETING PLANNERS, TRAVEL AGENTS, TOUR OPERATORS, AND CHARTER COMPANIES. • AWARD -WINNING TECHNOLOGY LEADER THAT HAS PIONEERED MANY TECHNOLOGIES NOW STANDARD IN THE INDUSTRY • SETTING. THE INDUSTRY STANDARD WITH YEARS OF EMPLOYEE RETENTION directory Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk CORPORATE BRAZIL SONESTA COLLECTION SONESTA SAO PAULO IBIRAPUERA 116 HUNTINGTON AVENUE, 9TH FLOOR AVENIDA IBfRAPUERA, 2534 BOSTON, MA 02116 USA MOEMA P: 617-421-5400 SAO PAULO SP, CEP 04028-002 F: 617-421-5402 BRAZIL. SON ESTA.COM P: 55-11-2164- 6000 F: 55-11-2164-6032 UNITED STATES 230 GUEST ROOMS ROYAL SONESTA HOTEL BOSTON 40 EDWIN H LAND BOULEVARD CAMBRIDGE, MA 02142 P: 617-806-4200 F. 617-806-4232 400 GUEST ROOMS SONESTA BAYFRONT HOTEL COCONUT GROVE 2889 MCFARLANE ROAD COCONUT GROVE, FL 33133 P: 305-529-2828 F: 305-529-2008 225 CUEST ROOMS ROYAL SONESTA HOTEL NEW ORLEANS 300 BOURBON STREEI NEW ORLEANS, LA 70130 P: 504-586-0300 F: 504-586-0335 500 GUEST ROOMS CHATEAU SONESTA HOTEL NEW ORLEANS 800 IBLRVILLE STREET NEW ORLEANS, LA 70112 P: 504-586-0800 F: 504-586-1987 251 GUEST ROOMS ST. MAARTEN SONESTA MAHO BEACH RESORT & CASINO 1 RHINE RD MAHO BAY ST. MAARTEN, NETHERLANDS ANTILLES P: 599-545-2115 F: 599-545-3180 527 GUEST ROOMS SONESTA GREAT BAY BEACH RESORT & CASINO 19 LITTLE BAY ROAD PHILIPSBURG ST. MAARTEN, NETHERLANDS ANTILLES P: 599-542-2446 F: 599-542-3859 797 CAI IFST ROOMS SONESTA HOTEL BRASILIA SHN QUADRA 5 BLOCO B 70705-000 BRASILIA, OF BRAZIL P. 55-61-3424.2500 F: 55-61-3424-251 1 148 GUEST ROOMS PERU SONESTA POSADAS DEL INCA AREQUIPA PORTAL DE FLORES 116 AREQUIPA, PERU P: 5154-2I.5530 F: 5154-23-4374 58 CUEST ROOMS SONESTA POSADAS DEL INCA CUSCO PORTAL ESPINAR 108 CUSCO, PERU P: 5184-22-7061 F: 5184-24-8484 23 GUEST ROOMS SONESTA POSADAS DEL INCA LAKE TITICACA - PUNO SESQUICENTENARIO 610 SECTOR HUAJE, PERU P: 5151-36-4111 F: 5151-36-3672 62 CUEST ROOMS SONESTA HOTEL EL OLIVAR - LIMA PANCHO FIERRO 194 SAN ISIDRO, PERU P: 511-712-6000 F: 511-712- 6099 134 CUEST ROOMS SONESTA POSADAS DEL INCA MIRAFLORES - LIMA ALCANFORES 329 MIRAFLORES, PERU P: 511-241-7688 F: 511-447-1164 28 GUEST ROOMS SON ESTA.COM 1-800-SONESTA (766-3782) irectorc . Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk CONTINUED PERU SONESTA POSADAS DEL INCA SACRED VALLEY - YUCAY PLAZA MANCO II YUCAY 123, PERU P: 5184-20-1107 F: 5184-20 1345 84 GUEST ROOMS EGYPT SONESTA CAIRO HOTEL & CASINO 3 EL TAYARAN STREET NASR CITY, CAIRO - EGYPT P: +20.2-2262-811I F: +20-2-2263 5731 257 GUEST ROOMS SONESTA ST. GEORGE HOTEL LUXOR CORNICHE EL NILE STREET LUXOR EGYPT P: +20 95-2382-575 F: +20-95 2382-571 224 GUEST ROOMS SONESTA HOTEL PORT SAID SULTAN HUSSEIN STREET PORT SAID - EGYPT P: +20-66-3325-511 F. +20-66-3324-825 110 GUEST ROOMS SONESTA BEACH RESORT & CASINO SHARM EL SHEIKH NAAMA BAY SHARM EL SHEIKH - EGYPT P: +20-69-3600-725 F: +20-69-3600-733 520 GUEST ROOMS SONESTA CLUB SHARM EL SHEIKH NAAMA BAY SHARM EL SHEIKH - EGYPT P: +20 69-3601-280 F: +20-69-3601-289 409 GUEST ROOMS SONESTA BEACH RESORT TABA 14 KM TABA - NUWEIBA ROAD TABA, SOUTH SINAI EGYPT P: +20-69-3560-200 F: +20-69.3560-222 440 GUEST ROOMS SONESTA PHARAOH BEACH RESORT SAFAGA ROAD HURGHADA, RED SEA - EGYPT P. +20-65-346-1001 F: +20-65.346-1010 360 GUEST ROOMS �_aNEST+�NILE CRUISES 3 EL TAYARAN STREET NASR CITY, CAIRO - EGYPT P: +20-2-2264-1151 P2: +20-2-2262-.811I F +20-2-2264-1155 SONESTA NILE GODDESS 57 CABINS SONESTA SUN GODDESS 62 CABINS SONESTA MOON GODDESS 50 CABINS SON ESTA STAR GODDESS 33 SUITES SONESTA ST. GEORGE I 120 AL THAWRA ST. HELIOPOLIS, CAIRO- EGYPT P: +20-2-2418-3540 F: +20-2-2418-3548 59 CABINS COMING SOON SONESTA RESORT ORLANDO 400 RESORTTOWNHOMES, CONDOMINIUMS AND SUITES SON ESTA JACO RESORT JACO BEACH, COSTA RICA 190 SUITES , SON ESTA GRAN POSADA RESORT SAN CARLOS, MEXICO 459 SUITES SONESTA IS ALSO DEVELOPING 3 RESORT PROPERTIES IN COLOMBIA, WITH LOCATIONS IN BARRANQUILLA, BOGOTA, AND CARTAGENA SONESTA.COM 1-800-SONESTA (766-3782) es Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL PROJECTED STAFFING AND PAYOLL Prepared By: Florida East Coast Realty Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Sonesta - Mikado Hotel & Residences CONSTRUCTION EMPLOYMENT 300 OTHER EMPLOYMENT 60 HOTEL STAFFING 250 Rooms Front Office Manager Front Office Supervisor Front Office Agents PBX Supervisors PBX Operators Concierge Bellman Housekeeping Executive Housekeeper Assistant Exec. Housekeeper Order Takers Seamstress HK Supervisors Room Attendants House people Night cleaners Public Areas Attendants Reservations Revenue Manager Reservation Agents Food & Beverage Management Food & Beverage Director Administrative Asssistant Catering/Convention Services Director of catering Social Sales Manager Catering Sales Manager Banquets Banquet Manager Banquet Captain Banquet Servers Banquet Set up Restaurant Main Manager Hostess Walters Bus persons Room Service Supervisor Servers Mini Bar Attendants Kitchen Executive Chef Executive Sous Chef Line Cooks 1 Line Cooks 2 Line Cooks 3 Stewarding Supervisor Stewards Cafeteria Attendants Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Beverage/Pool Bar & Grill Supervisor Bartenders Food Runner/Barbacks Servers Spa Other Operated Departments Manager Desk/Attendants Pool Children's Program Transportation Valet Administrative & General General Manager Administrative Assistant Accounting Controller Assistant Controller Accounting Clerks Systems Manager Purchasing & Receiving Purchasing Agent Storeroom clerk Security Human Resources Human Resources Director Assistant Resources Director Sales & Marketing Director of Marketing & Sales Travel Industry Manager Group/Corporate Travel Sales Manager Sales Manager Administrative Assistant Laundry Supervisor Attendants Repairs & Maintanance Director Of Engineering Supervisor Shift HOTEL CASH PAYROLL $6,500,000 TOTAL HOTEL with Taxes/Benefits $8,255,000 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL BUILDING PERMIT APLICATION Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk . DEPARTMENT USE ONLY ~ City of Miami Process #: 0,8 C C pG Y j c (� 1 BUILDING DEPARTMENT r I PERMIT Total Due - APPLICATION Permit is :tu1: !l orrr,. .j; ire^ L i ` o.1 ` Folio Number. Q( 3231 o03 0 (0G0 owner. %-I-EL- -DE L 0 PEII<A Job Address: V 3 I IQ, E,, 4".1 Ave. nP: 351 37-- p �' ul.Owner's Address: 1p5. e„,sc n' v> ctCld Legal Address: Phone: 3o5 3sa -1-710 E-Mail: Unit No: Lessee: O Commercial 0 Residential O Dry Run Lessee Address: O Owner/Buflder 0 Contractor 0 Lessee Phone: E-Mail: Contractor's license/Registration No: aGj c Dc, $ q 7 Proposed Use of Building: Co M NlE ELCI A L. Contractor's Social Security Number: 2(03 - 9 Z - 818 9 Current Use: VA im-- Lasr Qualifier's Name: Epb,/aRi' 5, $ems? Job Description: 101 y,S.g USE. 1414RISE. Company's Name: R,o-roNDA ,-r UC'Tu .. s New Construction Total Cost: $35 p04+ pQ p. oa Address: 100 5, $ti5GAYNE- Et -SA Ikcj gO New Construction Sq. Ft: 3rr1.411.441 Line21 Ft: City: M 1 AM t state: FL Zip: 33131 Remodeling Total Cost Phone: 305 3Z I ~ 281 I Remodeling Sq. Ft: Lineal Ft: E-Mall: Units: Floors: Height: Gallons: if this is related to another permit, you mutt provide : MASTER PERMIT NUMBER: - -� :iii- .._ia,.Y` a.L.,. -._ i si - . I Name: Name: Address: Address: Phone: Phone: ,i.,,.4w.r:Rf p1lo^.n 2...a ... . J ., I. .. ..._ _ - �,' __'. :".O-1l� I.1. O Building Plumbing 0 LIMP Engineer's NameTOE CRAtx� e Ut+� c1P C 0 Mechantoal/AC 0 Plumbing/Gas ❑ Foundation Address: '12.0 0 S. pal- C041> Bf_VD - &, 0 ❑ Electrical ❑ Roofing Phone:(o)(p`1Q- (1Elsa E-Mali: C Landscaping 0 Sign Archltet:t's Name: ZViceriN/tCN AlZelikrMeTii O Efectrlcal O Roofing Address:100 lcBocc o(N>i; -Vt5 ^ G f-e►r Fmg,.. O Fire 0 Mechanical Elevator . Phone $. . , .. f E-Mail: !. ,IE /'ilf ill 1.{:...4:111'( �� I.I, -i j1 {I �tif i 1`I r U1 .- 0 Change of Contractor (CR) 0 Change of Qualifier (CO) CIRe-certificationof Plans (RC) 0 Plans revision (RV) O Completion Permtt (CP) New Construction ❑Addition ❑General Repair/Remodeling 0 Mlac. Building 0 Change of Occupancy 0 Demolition ❑ Change o1 Use I understand that separate permits must be obtained for other items (i.e. electrical, plumbing, roofing, eta.), unless specifically mit. In signing this application, I am responsible for the supervision and completion of the construction in accordance tions and for compliance with all federal, state, and county laws applicable. Owner's Affidavit: I certify that all the forgoing information is correct Owner Codifies that the aforementioned Contractor perform the work as specified above. Lessee's Affidavit: Lessee certifies that he has full consent and authorization from + • •r al subject property to perform work and to hire above captioned contractor. I have read the Inf rmation stained in this permit and understand that any misrepr=- : =,0 ay conslitut read ItA covered by this per- with the plans and specifica- has the authorization to the above -mentioned d could ! he permit. gnature of Owner/Lessee Signature of Qualifier - 1 r 40L.L 0 Ws 0 S, 3L sr Print Name Print Name State of Florida, County of Mlomi Dade State of Florida, County of Mlami-Dade /L. . NMI Document Name: Sessionl PIRC SECURITY ".►RECEIPT NO 3RMIT NO ADDRESS PHONE BUILDING 08056093 1771 NE 4 AVE 305 3587710 A/C/D TYPE CLASS SUB R 180 004 SUBSID 000000000 SUBSID SUBSID SUBSID SUBSID SUBSID ACTION L SCR MOD }/ AND ZONING RECEIPT PROCESSING DATE 04/09/2008 WAIVED N NAME HOTEL DE L'OPERA PAGE 1 (21) COMMENTS UPFRONT FEE MAINTAINED BY: DPB FEES DESCRIPTION UNIT TYPE UNITS UP -FRONT FEE - NEW CONSTRUCT. 35000000.0000 UP FRONT FEE - NEW CONSTRUCT. FEE 87500.00 RECORD ADDED...PLEASE CONTINUE TOTAL Submitted into the public record in connection with items #6 _ on 2-2 . Priscilla A. Thompson City Clerk FEE FEE FEE FEE FEE 87500.00 )0000)0000900000000 OR RECEIPT TOK 0113 CITY OF M %fl 444 S.W. 2. (WE. C114N}l FL 33136 3tt Co>- UIE R, WU CHECK g7,r50 -00 4' CMS I g 4-f19-20 L _: 4/9/2008 Time: 3:44:24 PM Hotel DeL'Upera LLC KattEalb CIT0001 CITY OF MIAMI 1 ° �`('+� � .i��' I°.-: 1�;� j'!yu;, �r i `•,� �� .. n'� 1.. 0 !'I. O • f r i . City of Miami PLAN RECEIPT . • wo Dale Submitted: Process No.: Job Address: 1-195 0.E- '' E tsil IA 1 L. 75313Z Contact Person: q'DEU tJAR.E-2 Telephone: D I PUAL 002 Rev_ 12iO3 c Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL MIKADO PROPERTY TAX PROJECTIONS Prepared By: Florida East Coast Realty Submitted into the public record in connection with items #6 on 2-23-09 Priscilla A. Thompson City Clerk MIKADO PROJECT Tax Increment Financing MIKADO Tax Projections Actual 2008 Tax Bills (3 parcels) $137,845 Taxes at start of construction $137,845 Projected New Taxes Percentage Increase $1,258,200 913% Projected New TAX INCREMENT $1,12%355 * estimate Submitted into the public record in connection with items #b on 2-23-09 . Priscilla A. Thompson City Clerk ZOOS REAL ESTATE PROPERTY TAXES -NOTICE OF AD VALOREM TAXES AND NON -AD VALOREM ASSESSMENTS SEE REVERSE SIDE FOR IMPORTANT INFORMATION FOLIO NUMBER 01-3231-003-0660 MUNICIPALITY MIAMI HOTEL OE L. OPERA LLC 100 S BISCAYNE SLVD *1100 MiAMI FL 33131 TAXING AUTHORITY Property Address 1795 NE 4 AVE Miami -Dade School Board School Board Operating School Board Debt Service State and Other Florida Inland Navigation Dist South Florida Water Mgmt District Everglades Construction Project Childress Trust Authority Miami -Dade County County Wide Operating County Wide Debt Service Library District Municipal Governing Board Miami Operating Miami Debt Service MILL CODE 0100 ASSESSED VALUE 1,544,180 Exemptions: ADDITIONAL PRIOR YEAR TAXES DUE (Not Included In Thic Bill) AD VALOREM TAXES MILEAGE RATE PER S1,000 OF TAXABLE VALUE 7.53300 0.26400 0.03450 0.53460 0.08940 0.42120 4.83790 018500 0.38220 7.67400 058030 1,544,180 1,544,180 1,544,180 1,5.44,180 1,544,180 1,544,180 1,544,180 1,544,180 1,544,180 1,544,180 1,544,180 NONE TAXES LEVIED 11,632.31 407.66 53.27 825.52 138.05 650.41 7,470.59 440.09 590.19 11,850.04 896.09 LEVYING AUTHORITY NON -AD VALOREM ASSESSMENTS RATE FOOTAGE/UNITS AMOUNT Save Time. Pay Online. www.miamidade.gov 2008 REAL ESTATE PROPERTY TAXES 01 -3231 -003-0660 FOLIO NUMBER 1795 NE 4 AVE PROPERTY ADDRESS LEGAL DESCRIPTION 315342 MIRAMAR PB 5-4 LOT 6 BLK 8 AND PROP INT IN & TO COMMON HOTEL DE L OPERA LLC 100 S BISCAYNE BLVD *1100 MIAMI FL 33131 Combined taxes and assessments S34,954.22 I. RETAIN FOR YOUR RECORDS ? . OETACH HERE AND RETURN THIS PORTION WITH YOUR PAYMENT 1 I�I�I I�tI lII�V�Iflh1 IIiN1 ll!I i!IIU • 1 0 E 3+ D t- 3 2 3 1- O D 3 0 6 6 D+ Make checks payable to: Miami -Dade Tax Collector (in US. funds drawn on U.S. banks) Please use envelope provided or mail to 140 W. Hagler Street Miami, FL 33130-1575 ADDITIONAL PRIOR YEAR TAXES DUE (Not Included In This Bill) c O PAY ONLY ONE AMOUNT Amount if paid by NOVEMBER S0, 2008 S 33 56.05 t if paid by DECEMBER 31, 2008 $ 33,905.59 Amount it paid by JANUARY 31, 2009 34 55.14 Amount if paid by FEBRUARY 28, 2009 E 34.604.68 Amount if paid by MARCH 31, 2009 S 34,954.22 80033 01323100306600 0003495422 00000000 0000000 0000000 00000 0 ZOOS REAL ESTATE PROPERTY TAXES NOTICE OF AD VALOREM TAXES AND NON -AD VALOREM ASSESSMENTS SEE REVERSE SIDE FOR IMPORTANT INFORMATION FOLIO NUMBER 01-3231-003-0670 HOTEL DE 4OPERA U.0 100 S BISCAYNE BLVD MIAMI FL 33131 TAXING AUTHORITY MUNICIPALITY MIAMI Property Addregs 1783 NE 4 AVE Miami -Dade School Board School Board Operating School Board Debt Service State and Other Florida Inland Navigation Dist South Florida Water Mgmt District Everglades Construction Project Children Trust Authority Miami -Dade County County Wide Operating County Wide Debt Senrice Library District Municipal Governing Board Miami Operating Miami Debt Service MILL CODE 0100 Exemptions: ADDITIONAL PRIOR YEAR TAXES DUE (Not Included In This BIIIt AD VALOREM TAXES MILLAGE RATE PER $1.000 OF TAXABLE VALUE vrr ASSESSED VALUE 2,303,400 NONE 753300 026400 0.03450 0.53460 0.08940 0.42120 4.83790 0.26500 038220 7.67400 0.58030 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 2,303,400 TAXES LEVIED 17,351.51 606.10 79.47 1,231.40 205.92 970.19 11,143.62 656.47 880.36 17,676.29 1,336.66 c C O ._ C a1 LEVYING AUTHORITY NON -AO VALOREM ASSESSMENTS RATE FOOTAGE/UNITS AMOUNT Save -lime. Pay0nlire. www.miamidade.gov 2008 REAL ESTATE PROPERTY TAXES 01-3231-003-0670 FOLIO NUMBER 1783NE4AVE PROPERTY ADDRESS LEGAL QESC tPT10t4 MIRAMAR P8 SA LOT 78,N1/2OFLOT 10 BLK 8 AND PROP INT IN & TO COMMON -IOTEL DE L OPERA LLC 100 5 BISCAYNE BLVD MIAMI FL 33131 t RETAIN TOR YOUR RECORDS t ,u ai 1- .~. ICombined taxes and assessments S52,139.991 . DETACH HERE ANO RETURN THIS PORTION WITH YOUR PAYMENT 4 �I�IIIIPIe��11311M �901d�u�1 + 1 0• Dar 0 1- 3 2 3 1- 0 0 3- 0 6 7 D Make checks payable to: Miami -Dade Tax Collector (in U.S. funds drawn on U.S. banks) Please use envelope provided or mail to 140 VIL Flagler Street Miami, FL 33130-1575 ADDITIONAL PRIOR YEAR TAXES DUE (Not Included In Ibis Bill) PAY ONLY ONE AMOUNT Amount if paid by NOVEMBER 30, 700E 50 154.39 unt if paid by DECEMBER 31, 2008 $ 50,575.79 Alpount if paid by JANUARY 31, 2009 $ 51,097.19 Amount if paid by FEBRUARY 28, 2009 $ 51,618.59 Amount if paid by MARCH 31, 2009 S 52,139.99 80033 01323100306700 0005213999 00000000 0000000 0000000 00000 1 ZOOS REAL ESTATE PROPERTY TAXES „.NOTICE OF AD VALOREM TAXES AND NON -AD VALOREM ASSESSMENTS SEE REVERSE SIDE FOR IMPORTANT INFORMATION FOLIO NUMBER MUNICIPALITY MILL CODE ASSESSED VALUE 01-3231-003-0690 HOTEL DEL OPERA LLC 109 S BISCAYNE BLVD MIAMI FL 33131 .r. TAXING AUTHORITY Miami -Dade School Board School Board Operating School Board Debt Service State and Other Florida Inland Navigation Dist Saute Florida Water Mgmt District Everglades Construction Project Childrens Trust Authority Miami -Dade County County Wide Operating County Wide Debt Service Library District Municipal Governing Board Miami Operating Miami Debt Service MIAMI Property Address 407 NE 17TERR 0100 Exemptions: ADDITIONAL PRIOR YEAR TAXES DUE (Not Included In This Billj AO VALOREM TAXES MILLAGE RATE PER 51,000 OF TAXABLE VALUE 733300 0.26400 0.03450 0.53460 0.08940 0.42120 4.83790 0.28500 0.38220 7.67400 0.58030 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 2,242,020 NONE TAXES LEVIED 16,889.14 591.89 7735 1,198313 200.44 944.34 10,846.67 638.98 856.90 17,205.26 1,301,04 LEVYING AUTHORITY NON -AD VALOREM ASSESSMENTS RATE FOOTAGE/UNITS AMOUNT Save Time. Pay Online. www.miamidade.gov 2008 REAL ESTATE PROPERTY TAXES 01-3231-003-D690 FOLIO NUMBER SRNE17 . PROPERTY ADDRESS LEGAL DESCRIPT10N MIRAMAR PB 54 S1 /2 OF LOT 10 8 LOT 11 BLK 8 AND PROP INT IN & TO COMMON HOTEL DE L OPERA LLC 100 S BISCAYNE BLVD MIAMI FL 33131 (Combined taxes and assessments S50,750.59 t RETAIN FOR YOUR RECORDS t * DETACH HERE AND RETURN THIS PORTION WITH YOUR PAYMENT i !iiii IIiuii a�in� a1u'mo�i11��ilai R 1 0• 0 a• 0 1- 3 2 3 1- D 0 3- 0 4 9 0 Make checks payable to: Miami -Dade Tax Collector (in U.S. funds drawn on US. banks) Please use envelope provided or mail to 140 W. Flagler Street Miami, FL 33130-1575 ADDITIONAL PRIOR YEAR TAXES DUE (Nol Included In This Bill) PAY ONLY ONE AMOUNT Amount if paid by NOVEMBER 30, 2008 S 48,720.57 �t if paid by DECEMBER 31, 2008 S 49 28.07 ount if paid by JANUARY 31, 2009 49 735.58 Amount if paid by FEBRUARY 28,2009 1 $ 50,243.08 Amount if paid by MARCH 31, 2009 $ 50,750.59 80033 01323100306900 0005075059 00000000 0000003 0000000 00000 7 Submitted into the public record in connection with items !tb on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL RECENT FECR PROJECTS TAX HISTORY Prepared By: Florida East Coast Realty Submitted into the Public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO PROJECT Tax Increment Financing Recent FECR Projects in OMNI Redevelopment District Tax History Bay Parc Plaza Open 2000 471 Luxury apartments and commercial space Taxes at start of construction $25,777 Actual Taxes in 2008 $1,358,166 Amount of New Taxes Created $1,332,389 Percentage Increase 5269% Opera Tower Open 2007 635 Luxury Condominium and commercial space Taxes at start of construction $141,311 * Taxes in 2008 $3,757,295 Amount of New Taxes Created $3,615,984 Percentage Increase 2659% Amount of TAX INCREMENT CREATED $4,948,374 • Opera Tower real estate taxes were estimated using a representative sample of actual 2008 tax bills. An average tax amount of $5,917 per unit was indicated. Submitted into the public - record in connection with on items — A Thompson Priscilla City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL LIST OF DEVELOPMENTS WITHIN OMNI CRA Prepared By: Florida East Coast Realty Submitted into the public record in connection 3 with items on 2-`—r Priscilla A. Thompson City Clerk MIKADO Development Experience in OMNI Redevelopment Area Tax Increment Financing Request The history of Florida East Coast Realty over the past four decades is in large sense a history of Miami. In the OMNI Redevelopment District alone, we have produced more than ten million 10,000,000) square feet of development. Opera Tower Condominium - 635 residences Bay Parc Plaza Apartments - 471 residences Sealsle Marina —Full service marina with 300 slips The GRAND Condominium - 810 residences, and 2 levels of shopping and restaurants Double Tree Hotel - 152 luxury hotel suites Venetia Condominium - 350 residences Biscayne Bay Marriott Hotel — luxury hotel with 630 rooms and suites OMNI Hotel (now Hilton) — luxury hotel with more than 600 rooms and suites OMNI Mall Trinity Cathedral Bell Tower ($1,350,000 donation and construction) Historic BROWN House preservation/restoration (donation and restoration) Margaret Pace Park renovation Public improvements including sewers, force mains, lift station, streetscapes, roads, and utilities. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk I MIR Submitted into the public record in connection with items #6 on 2-23-09 . P.-krilla A Thnmpcnn City Clerk 2004 BAY PARC Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk 2008 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk W MIKADO HOTEL WARRANTY DEED Submitted into the public record in connection with items #6 on 2-23-O9 . Priscilla A. Thompson City Clerk This Dolmen Prepared By and Return to. Jerome S. Holln. Esq. I00 South Biscsyne Boulevard Suite 900 Miami, fl 33131 F01 r o o f 32 3+ o o 3 O(;6a 11111111111111111111111111111111111111111111 CFN 2008R022563.9 OP Bk 26275 Pa 02861 (1os 1 RECORDED 02/1S/2008 12224302 DEED b0C TAX 0.60 HARVEY RUVIN, CLERK, OF COURT M/A11I-DADE COUNTY. FLORIDA LAST PAGE NOTE TO TAX EXAMINER: NO DOCUMENTARY STAMP TAXES ARE DUE AND OWING AS THE CONVEYANCE OF PROPERTY UNDER THIS DEED IS A TRANSFER FROM AN INDIVIDUAL TO A LIMITED LIABILITY COMPANY VVRERE THE MAMMAL TRANSFEROR iS FIE SOLE MEMBER. SPECIAL WARRANTY DEED This Special Warranty Deed, made this day of IV�t`c‘-- , 2008, by and between Tibor Hallo, a married man, whose post office address is 100 South Biscayne Blvd., Suite 900, Miami, FL 33131 ("Grantor") and Hotel De L'Opera, LLC, a Florida Limited Liability Company; whose post office address is 100 South Biscayne Blvd., Suite 1100, Miami, FL 33131 ("Grantee"). WTfNESSETH: THAT Grantor, for and in consideration of the sum of TEN and NO/100 DOLLARS (S10.00) and other good and valuable consideration, to it in hand paid by Grantee, the receipt whereof is hereby acknowledged, hereby grants, bargains and sells to Grantee, its heirs, successors and assigns forever, the following described real property, situate in Miami -Dade County, Florida, which is more particularly described as: Lots 6. 7, 10 & II, Block 8 of "Miramar", according to the Plat thereof as recorded in Plat Book 5, Page 4 of the Public Records of Miami -Dade County, Florida. To have and to hold the same in fee simple forever, subject to the following: I. Real estate taxes and assessments for the current year and subsequent years. 2. Conditions, restrictions, reservations, limitations and easements of record, if any, but this provision shall not operate to reimpose the same. 3. Zoning and other governmental regulations. Grantor warrants that the subject property is not his homestead, or that of any member of his immediate family. The benefits and obligations hereunder shall insure and be binding upon the heirs, executors, administrators, successors and assigns of Grantor and Grantee. Grantor does hereby covenant with Grantee that at the time of delivery of this Special Warranty Deed, the title to the real property hereby conveyed was free from all encumbrances made by Grantor, and Grantor will warrant and defend same against the lawful claims of all persons claiming by, through or under Grantor, but against none other. IN WITNESS WHEREOF, grantor has caused this Special Warranty Deed to be executed the day and year first above written. Signed, sealeddelivered in the p "F ame: LJ Print Nam STATE O ORIDA COUNTY OF MIAMI-DADE The foregoing instrument was acknowledged before me thi who is personally known to me. Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson, City Clerk Notary Public My CommisSV`on Expires: aAUa KASStIAN 1+KCOIOaSS>CH 1000145 (WIRES: Fetnmy 3, 2010' 4•,,h,14170,aabd llc+ EuglMawr Swim 2008 by Tibor Rollo Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL CERTIFICATE OF GOOD STANDING Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk State of Florida Department of State 1 certify from the records of this office that HOTEL DE L'OPERA, LLC is a limited liability company organized under the laws of the State of Florida, filed on February 17, 2006, effective February 17, 2006. The document number of this limited liability company is L06000017896. I further certify that said limited liability company has paid all fees due this office through December 31, 2008, that its most recent annual report was filed on April 21, 2008, and its status is active. I further certify that said limited liability company has not filed Articles of Dissolution. Given under my han4 and the Great Seal of Florida, at Tallahassee, the Capital, this the Fifth day of May, 2008 Secretary of State Authentication ID: 300128567433-050508-L06000017896 To authenticate this ccri ficate,visit the following site, enteritis ID. and then follow the instructions displayed https://efile.sunbiz.orgicertauthver.html Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL PROJECT DATA SHEET AND ELEVATIONS Prepared By: Zyscovich Inc. 100 Norh Biscayne Blvd. 27th Floor Miami, Florida 33131 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk HOTEL DE L'OPERA "VIKADO" 1771 NE 4TH AVENUE, MIAMI, FLORIDA ZONING ANALYSIS SD-6 MIRAMAR CENTRE PHASE 11 & Ill ZONING LOT LOT NET AREA LOT GROSS AREA PHASE III SD-6 28.619 SF (0.66 Acres) 47,921 SF (1.10 Acres) FAR TOTALS F 0 018481E 1,020373 SF FM-8AtR1 naKn firm Car Perm r) 615,646SF 'rillAr^GFAA 404,72/SF 1111118 LwAol' 314,341 SF PALWf%En MTN FM sinus FM 90,386 SF DENSITY RESIOENTAL FAR 265,478 SF NON RESIDENTIAL FAR 48,863 SF MIRAMAR CENTRE PHASE In ZONING REQUIREMENTS I/LSP LOAMM CEMAt NW / AFUNEDAVIIMAD KwSIML'I4 mooranom U.I71m (1884446 MINE "WV a1 NUMBER OF FLOORS UNLIMITED 38 HEIGHT UNLIMITED v.-Fro.....• ,111 .0,:4,."... FRONT SETBACK 0'Q N,Q0M1) 5,0 J FRONT -SIDE SETBACK @f 174 mem, 5,6 SIDE SETBACK rwraxle lop 0'-6 0-9' to 28'-0' REAR SETBACK twFn 0-0' 0-0' 10 11'-3' BUILOING FOOTPRINT N/A 24,835 SF REQUIRED/ALLOWED ARRROVE0 MUSA 12.21.2076 CENTRE PHASE ll1 AM. SUISLI41411f61117GNOW 08,062007 (6aR414411 MAME PmSE try TOTALS - MIRAMAR CENTRE PHASE 11 & Ill 810 • 175 "350 Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk '350 Hotel Rooms X 0.50 as per Section 903.4 = 175 Units "350 Hotel Rooms/Condo Hole1 Rooms X0.50 as per Section 903.4 = 175 Units PROJECT. ;P4 PROJECT No.: PName PNumb REVISION TO SHEET No.: Zyscovich RE.: A-000 REF: HOTEL DE L'OPERA "MIKADO" 1 771 NE 4TH AVENUE, MIAMI, FLORIDA OPEN SPACE I PRIVATE RECREATION SPACE MPINAM GEM PPNSf l 77A72008 RE0U88DALLOWED PROPOSED SURPLUS F 28,167 SF 23,848 SF BUILDING DISTRIBUTION ROOMS SUITES HOTEL CONDO TOTAL 210 21 119 350 PARKING DISTRIBUTION REQUIRED/ ALLOWED PROPOSED RETAIL / RESTAURANT 1/800 SE 8 SPACES 20 SPACES OFFICE 1 /800 SF 5D SPACES 50 SPACES HOTEL 1 /4 UNUS 58SPACES 58SPACES HOTEL CONDO 1/1 UNITS 119 SPACES 147 SPACES TOTAL 235 SPACES 276 SPACES (a) ACCESSIBLE SPACES (07) ARE INCLUDED IN TOTAL #10F PARKING SPACES LOADING REO!/I11fDlAllnWED M PRIMI)1i13P r17lleq fA i4,10 McV',m fl M7NSIMSWOW 1A00192I1100 12.042077 f M,MMM eEHT,ff PR4SEI9 5 (PHAS'', 4 (PHASE III) =9 BERTHS 8 BERTHS (b)(c) 8 BERTHS (b)(c) NOTES' PHASE 111(Subslandal Amendment) Required. Fair (4) - 1? wide x 35' long x 15' high Proposed: One (1) - 12 wide x 55' long x 15' high One (1) - 1? wide x 35' long x 15' high Six (6) -10' wide x 20 long x 15' high Submitted into the public record in connection with items #6 on 2-23- 9 Priscilla A. Thompson City Clerk (b) Class 11 Waiver required Tor sve reduction (c) Dockmaslerrequired for landem loading and provided as shown on ground doorplan r. Zyscovich PROGRAM DISTRIBUTION AREAS FAR AREAS HOTEUCONDO LOBBY 2,778SF RECEPTION RECEPTION OFFICES CONCIERGE BELLAfANAREA SUNDRY STORE VALET OFFICE 174SF 422 SF 130 5F 114SF 170 SF 115 SF TOTAL 1,125 SF OFFICE 40,419 SF RECEPTION 553 SF TOTAL 553 SF HOTEL 136.389 SF LAUNDRY HOUSEKEEPING AREAS HOTEL OFFICES HOTEL KITCHEN EVENTS OFFICE BEAUTY SALOON HOTEL CAFE GYM/YOGAROOM POOL DECK SPA(TOTAL) 2,138 SF 1,751 SF 3,449 SF 1,742 SF 104 SF 654 SF 828 SF 1,535 SF 10,050 SF 3,307SF TOTAL 25,558 SF HOTEL CONDO 127,089 SF CONDO OFFICES RECEIVING OFFICE DOCKMASTER OFFICE 732 SF 219 SF 90 SF TOTAL 1,041 SF RESTAURANT 5,666 SF KITCHEN SERVICE AREA 1,174 SF 160SF TOTAL 1,334 SF TOTAL 314,341 SF PROJECT: PName PROJECT No.: PNumb REVISION TO SHEET No.: RE.: A-000 REF: :1 1 • rn ml 11111111111 5th,1 Allarat moo w... • Fiif . WUN.111W..LIP .IIPii Ii.1if4ii•1ii in I1 11 im II, III n 11 n in! ie _ uliui*l I1 —_ _ ii11111Ii 111/1111 11 :iiiiii ii ii otiiiiiiiiiliiiiiiii woe ws Fs= NM km W ann mm ELEVATION NONTII WEST A-501 • , 4 i pi n r 9s81.�e�'II?i� 11111, . i111 ]iTt1. 9s11trLr,'1n1111simin 1 as:r;� n "11i . i.- 9, �rlL�lal�e 1111 " maim. . 9uroil 111 i 1rr i,�i�`_ pIIii1. IN 1411.1 _1111 min mum. ' '33iIi Lam qiI pi1ar a:I1%11P1111p 1R, inndprr a. asap:r]-� 1 h^�Jill. inrr g 99MiciP1h ,1111- Ifll'r 1-1 . 111161.41 !"151,1111!!fl r:R R .5P1-11. .116F,IGi iIIi 'N :E.,9ru1. .11 %IN VIM INIrAi �.� wll�ll. 11 .1.11 'MiniTI I iiriA11111. IIERIFINMR MPHAli:riAl�1. muciirwimpri!!l Et diI MINI. 'iC11i I 1 I!'ll i it iAl�1. l�1HIM AMIN' �lirir i1 iiN 1 IAIi:�rMUM, ��L'rIIi�ltin PIElr:.iiAIAI. 1.0111411 3'113!!1 1 ' t:r 3�1111. ! �1 1111111 i I AI l:r;iMIAI. L IIIMEINFINPIR ni1:r!'1IMI. iirmilIFIRMIA1 iA 1 Find Rini. !1CrIIMMIEMIinPE :riRIMI. ,111 �� 00010o L Nig um 111ii11111 ut i lI / Mt MEW L I �I81i�= nuc■ li. m `m r., u� IR F;U°IIa:: •. ..� I:: iii �: 1 ! %: EIM '_`. I:1" tr::1 _ :::W:::f` It I ' Ill IN f11 Imo 1:19:a' =� EtNi 0we- tt .A6'•! tm rc (1114 i14 ;IH It'.tl. di II .6C•P. 1m OL 51X .NH 1t'1 a .4o.o- im a 5.4 • 'NUM. 'CO rc qa@ 114 dvtl tt -r24' Am 6f Ras tIH1.41 {ham I . U'.n' Id I! '116 T iIH u ACifll LCK. w a= 00 J � w� 0 2 w■ 0 nalle.000. 1 .111•••11 FL . -r t[r Cr SUE tINL Ijf S Lot }In L[NL i [t .Ltr.o- Ito a 10 c 'In L} [l .5t-i I[f 7 SIAS Y ,TN I[MI a .47-E` .r R 51.4 fM1 IIM. SLA ir El 1.1 tt (t [t .75.i 10i U 3X lL .14-o MI, u XU IL ZMil I [MI F.,O UQL Submitted into the public record in connection with items #6 on 2-23-® Priscilla A. Thompson City Clerk wad a Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk MIKADO HOTEL MIKADO PROPOSED MARKETING MATERIAL Prepared By: Barrow, Beber & Silverstein 3361 SW 3rd Avenue Miami, FL 33145 Submitted into the public record in connection with items #fi on 2-23-09 . Priscilla A. Thompson City Clerk 7v\FQDQ, the hote • • • !I r1„ a1 he residences Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk mikadomiami.com 4 a, Car it the hot. • ��IL -,� G . a Op • the residences Submitted into the public record in connection with items #6 on 2-23-09 . Priscilla A. Thompson City Clerk mikadomiami.com Submitted into the public record in connection with items #6 on 2-23-09. Priscilla A. Thompson City Clerk Submitted into the public record in connection with item # fti on o�'�3 _� 7 Priscilla A. Thompson City Clerk Submitted into the public record in connection with item #i on a, 3-off Priscilla A. Thompson City Clerk You'll Never Want To Leave. m,kadomiarni cam N1l<(A Do Submitted into the public record i connection with item it 10 on Priscilla A. Thompson City Clerk Sonesta Re -Invents the Downtown Hotel. mikadomiami cum N1D0 Submitted into the public record in connection with item # on Priscilla A. Thompson City Clerk You'll Wish You Could Live Here. rrnkadomiami corn Submitted into the public record in connection with item # (, on 2,2-3 <%i Priscilla A_ Thompson City Clerk Miami's New Diva mikadomiami com Submitted into the public record in connection with item # (0 on a-2 3-c:`j. Priscilla A. Thompson City Clerk