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HomeMy WebLinkAboutExhibit 1-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Exhibit "A" Project Descriptions for CRA Capital Projects Loan • Lyric Place - Block 25 will be a mixed -use development project that will be built in two phases on Block 25 within the Overtown community. Block 25 will be the site of two (2) residential apartment communities that will each consist of approximately 200 affordable units. Phase I will consist of between 90-100 units. 50% of the units in Phase I will be dedicated for households at or below 60% of Area Media Income (AMI), with the balance of the units not to exceed 120% of AMI. Approximately 5,000 square feet of storefront retail will be incorporated into Phase I in the ground floor of the buildings that face NW 2'd Avenue. Phase II shall consist of between 90 and 120 residential units. Significant on -site amenities on Block 25 will be available to residents, including appropriately sized tot lots, fitness centers, libraries with computers, as well as a wide array of resident educational, health, and occupational programs. The funding request for Phase I is $10,000,000.00. No funding will be provided for Phase II. • Lyric Place - Block 36 Retail - Between 27,000 to 35,000 square feet of retail is intended on Block 36 together with a 300 space Parking Garage. Retail parking will be on -grade, including the ground floor of the Public Parking Garage. This essential element of Lyric Place will be comprised of an approximately 300 space Public Parking Garage, of which not less than 250 spaces will be available for use by the public, including use by members of the International Longshorement's Association Local 1416 (for their daily shifts), invitees of the Historic Lyric Theatre (for their performances and community events) and residents of the neighborhood. The Gatehouse Group stands ready to build the garage for the SEOPW-CRA, which will provide up to $3,000,000.00 to fund a portion of the cost to construct the Parking Garage which will be owned by the SEOPW-CRA. The Public Parking Garage would likely be managed by the Miami Parking Authority. • St. John Overtown Plaza will be a 112-unit new construction rental housing and mixed -use development project to be located at NW 3`d Avenue and 13th Street in the Overtown neighborhood of Miami, Florida. The commercial component is projected to be 30,000 square feet of commercial retail, restaurant, office, community center and day care facility. With one, two and three bedroom units, SJCDC is targeting families, primarily with incomes that do not exceed 80% AMI. This is a critical need in the Overtown community, where homeownership is less than 3%. Residential project amenities will include energy star equipment and appliances such as central air conditioning, dishwasher, microwave oven, garbage disposal, tankless water heaters, laundry rooms, a mix of tile and carpeting, with sustainable design and materials incorporated. Another component of the project will create 30,000 square feet of commercial retail space and create 30 jobs for community residents. The request for CRA funding is $10,000,000.00. • Island Living will be a mixed -use development located at 1201 NW 3`d Avenue in the heart of the historic Overtown Commercial Corridor containing between 60-80 residential units in an eight story building. The target market for this workforce housing development with 50% of the units for residents earning 60% or less of AMI. The unit mix of the residential 6 /2-oo _EXh;bif 1-sv3 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OFTHIS DOCUMENT. component will be determined based upon market conditions and community input. The development plan will incorporate a landscape plan which would stress pedestrian friendly walkways, playground areas for children, green space and appropriate parking. The commercial component of the project will include approximately 5,000 square feet of commercial space with will provide an opportunity to locate more businesses that will create jobs. The funding request from the CRA is $8,000,000.00. • Culmer Center Housing Development - This project is a multi -year, multi -phase project that will result in the transformation of 9 acre and 3 blocks along NW 3`d Avenue in Overtown. Seven acres, at 1600 NW 3`d Avenue, are owned by Miami -Dade County and currently serves as the site for the Culmer Neighborhood Service Center. Two acres, at 1490 NW 3`d Avenue, are owned by the City of Miami and currently serves as a retail center and City offices. Phase 1 will be a 75-unit apartment building, reserved for persons earning below 60% of the Area Median Income (AMI). This will be a 6-story building located at the southwest comer of the site, on NW 4th Avenue at the cul-de-sac. There will be a mix of one bedroom, two bedroom and three bedroom units with average sizes of 650 SF, 850 SF and 1,050 SF respectively. There will be on site management, as well as a fitness room, computer center, and multi -purpose space for resident programs. In -unit features will include energy star appliances, tile floors throughout, balconies and ceiling fans. CRA funds of $7,500,000.00 are requested for this phase. Phase 2 will be an 83-8nit apartment building, also reserved for persons earning below 60% of the AMI. This will also be a 6-story building and will be located at the northwest corner of the site, on the comer of NW 4th Avenue at NW 17th Street. Unit mix, sizes, programs and features will be similar to but will compliment those offered in Phase 1. Phase 2 also includes a retail building of 5,000 square feet at the corner of NW 3`d Avenue and NW 171 Street. Phase 2 also includes a new and attractive drop off loop for the existing Head Start Center on the site, which will substantially enhance the 3` Avenue streetscape. No CRA funds are being requested at this time for this phase. Phase 3 will be a brand new 3-story Culmer Center building on NW 3`d Avenue at the intersection of NW 16th Street. Phase 3 will also include 8,000 square feet of retail space on the 3`d Avenue frontage. No CRA funds are requested for this phase. Phase 4 will be a multi -story building constructed on the City site. This would replace the existing 1 story retail use with new retail space, large enough to accommodate a grocery store. Above the retail would be office and/or residential uses. The target market for these units is undetermined at this time. No CRA funds are requested for this phase. AFFORDABLE HOUSING - RehabAFFORDABLE HOUSING - Rehab • Town Park - The Town Park project will be a gut rehab of three separate sub -communities. Town Park Village ("Village") was built in 1970 and has 151 units in 20 buildings that are a combination of townhouses and garden apartments. Town Park Plaza South ("South") THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. was constructed a year later in 1971 and has 17 buildings with 116 units. Town Park Plaza North ("North") was built in 1973 with 20 buildings and 168 7units. The buildings suffer from deferred maintenance and patch work to long standing problems that now are life safety concerns. Visible deterioration is present as evidenced by structural cracks in some units, broken windows, loose railings on upper floors, sewer backups, water leaks from decrepit plumbing, existence of mold, and wood rotting in doors and fascia of roofs as well as outdated electrical wiring. A gut rehab would consist of stripping all units down to bare walls to expose and replace the plumbing and electric. New windows, doors, floors, bathrooms, kitchens, closets, fixtures, central air systems, ceiling fans and appliances will be installed. On the exterior, roofs will be replaced where needed, new stucco and painting for the building exterior, landscaping and sod, new sidewalks, metal picket fencing with security features (key or card reader access), any necessary utility upgrades like an increase in the size of water and sewer lines, better drainage, and improved gas connections. Chose contractors for this project will have responded to an open competitive bidding process. The funding request for this Project is $15,000,000.00. Payoff of the 1990 Bonds Repayment of the Community Redevelopment Bonds totaling $11,500,000 (the "1990 Bonds") issued to fund certain infrastructure improvements, acquisitions and clearing of certain real estate and refinancing of a $5,900,000.00 Section 108 Housing and Urban Development Promissory Note. #11210670 42 SUBSTITUTED Exhibit "A" Project Descriptions for CRA Capital Projects Loan Lyric Place - Block 25 will be a mixed -use development project that will be built in two phases on Block 25 within the Overtown community. Block 25 will be the site of two (2) idential apartment communities that will each consist of approximately 200 affordable ts. Phase I will consist of between 90-100 units. 50% of the units in Phase I will be de. ated for households at or below 60% of Area Media Income (AMI), with the balan• - of the units not to exceed 120% of AMI. Approximately 5,000 square feet of storefro retail will be incorporated into Phase I in the ground floor of the buildings that face NW ' °d Avenue. Phase II shall consist of between 90 and 120 residential units. Significant -site amenities on Block 25 will be available to residents, including appropriately ed tot lots, fitness centers, libraries with computers, as well as a. wide array of residen -ducational, health, and occupational programs. The funding request for Phase I is $10,000,'00.00. No funding will be provided for Phase II. • L 'c Place - Block 3• ' etail - Between 27,000 to 35,000 square feet of retail is intended on Block 36 together wi a 300 space Parking Garage. Retail parking will be on -grade, including the ground floor the Public Parking Garage. This essential element of Lyric Place will be comprised of . approximately 300 space Public Parking Garage, of which not less than 250 spaces will b vailable for use by the public, including use by members of the International Longshore -nt's Association Local 1416 (for their daily shifts), invitees of the Historic Lyric Thea - (for their performances and community events) and residents of the neighborhood. The • tehouse Group stands ready to build the garage for the SEOPW-CRA, which will provide to $3,000,000.00 to fund a portion of the cost to construct the Parking Garage which wil •e owned by the SEOPW-CRA. The Public Parking Garage would likely be managed b e Miami Parking Authority. • St. John Overtown Plaza will be a 112-unit ne construction rental housing and mixed - use development project to be located at NW 3' 1 • enue and 13th Street in the Overtown neighborhood of Miami, Florida. The commercial • .mponent is projected to be 30,000 square feet of conunercial retail, restaurant, office, ommunity center and day care facility. With one, two and three bedroom.units, SJCDis targeting families, primarily with incomes that do not exceed 80% AMI. This is a tical need in the Overtown community, where homeownership is less than 3%. Resi• tial project amenities will include energy star equipment and appliances such as entral air conditioning, dishwasher, microwave oven, garbage disposal, tankless water ' ters, laundry rooms, a mix of tile and carpeting, with, sustainable design and materials .rporated. Another component of the project will create 30,000 square feet of coinme al retail space and create 30 jobs for community residents. The request for CRA funding $10,000,000.00. • Island Living will be a mixed -use development located at 1201 NW 3 ' venue in the heart of the historic Overtown Commercial Corridor containing between 60- ' residential units in an eight story building. The target market for this workforc• housing development with 50% of the units for residents earning 60% or less of AMI. e unit mix of the residential component will be determined based upon market conditio and community input. The development plan will incorporate a landscape plan which w. d stress pedestrian friendly walkways, playground areas for children, green space an SUBSTITUTED appropriate parking. The commercial component of the project will include approximately 5,000 square feet of commercial space with will provide an opportunity to locate more businesses that will create jobs. The funding request from the CRA is $8,000,000.00. finer Center Housin• Develo.ment - This project is a multi -year, multi -phase project t will result 'in the transformation of 9 acre and 3 blocks along NW 3"d Avenue in Ov. own. Seven acres, at 1600 NW 3rd Avenue, are owned by Miami -Dade County and curre y serves as the site for the Culmer Neighborhood Service Center. Two acres, at 1490 31d Avenue, are owned by the City of Miami and currently serves as a retail center an. ity offices. Phase 1 will . a 75-unit apartment building, reserved for persons earning below 60% of the Area Medi Income (AMI). This will be a 6-story building located at the southwest comer of the sit: on NW 4th Avenue at the cul-de-sac. There will be a mix of one bedroom, two .bedr..m and three bedroom units with average sizes of 650 SF, 850 SF and 1,050 SF respect ely. There will be on site management, as well as a fitness room, computer center, and i lti-purpose space for resident programs. In -unit features will include energy star appli..,ces, tile floors throughout, balconies and ceiling fans. CRA funds of $7,500,000.00 are ;uested for this phase. Phase 2 will be an 83-8nit apa Went building, also reserved 'for persons earning below 60% of the AMI. This will also b a 6-story building and will be located at the northwest corner of the site, on the corner o 4th Avenue at NW 17`h Street. Unit mix, sizes, programs and features will be simila o but will compliment those offered in Phase 1. Phase 2 also includes a retail buildin: .f 5,000 square feet at the corner of NW 3rd Avenue and NW 17th Street. Phase 2 also ' icludes a new and attractive drop off loop for the existing Head Start Center on the sit which will substantially enhance the 3rd Avenue streetscape. No CRA funds are being -quested at this tune for this phase. Phase 3 will be a brand new 3-story Culmer Cen -r building on NW 3rd Avenue at the intersection of NW 16th Street. Phase 3 will also inc de 8,000 square feet of retail space on the 3rd Avenue frontage. No CRA funds are reques • for this phase. Phase 4 will be a multi -story building constructed on the ity site. This would replace the existing 1. story retail use with new retail space, larg: enough to accommodate a grocery store. Above the retail would be office and/or re' . ential uses. The target market for these units is undetermined at this time. No CRA • s are requested for this phase. AFFORDABLE HOUSING - RehabAFFORDABLE HOUSING - Rehab • Town Park - The. Town Park project will be a gut rehab of three eparate sub - communities. Town Park Village ("Village") was built in 1970 and has 1 units in 20 buildings that are a combination of townhouses and garden apartments. Town • ark Plaza South ("South") was constructed a year later in 1971 and lias 17 buildings with 6 units. Town Park Plaza North ("North") was built in 1973 with 20 buildings and 168 nits. 2 SUBSTITUTED The buildings suffer from deferred maintenance and patch work to long standing problems that now are life safety concerns. Visible deterioration is present as evidenced by structural cracks in some units, broken windows, loose railings on upper floors, sewer backups, water leaks from decrepit plumbing, existence of mold, and wood rotting in doors and fascia of roofs as well as outdated electrical wiring. A gut rehab would consist of stripping all units down to bare walls to expose and replace the plumbing and electric. w windows,. doors, floors, bathrooms, kitchens, closets, fixtures, central air systems, ce g fans and appliances will be installed. On the exterior, roofs will be replaced whe needed, new stucco and painting for the building exterior, landscaping and sod, new si. -walks, metal picket fencing with security features (key or card reader access), any nec- ary utility upgrades like an increase in the size of water and sewer lines, better drainage, ., d improved gas connections. Chose contractors for this project will have responded to open competitive bidding process. The funding request for this Project is $15,000,000.0 #11171339 vl