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Home My WebLink AboutExhibit 5 - Version AAffordable Housing Documents And Other Assurances 1I11MI111111 II 11 1 Hill 111 I This instrument was prepared by: Ryan D. Bailin, Esq. Stearns Weaver Miller Weissler Alhadeff & Sitterson, P.A. 150 West Flagler Street Suite 2200 Miami, FL 33130 Folio No. 01-0205-080-1150 R L t: {;�{ JC? .. 2796 i pE A H c's;:`r RUVINi, CLERK OF COURT MIANiHDz D}E COUNTYFLORIDA AFFORDABLE HOUSING RESTRICTIVE COVENANT KNOW ALL BY THESE PRESENTS THAT as of theday of December, 2012, the undersigned, VISTA GRANDE APARTMENTS, LTD., a Florida limited partnership (the "Owner"), hereby makes, declares and imposes on the land herein described, these covenants running with the title to the land, which shall be binding on the Owner, all heirs, successors, and assigns, personal representatives, mortgagees, lessees, and against all persons claiming by, through or under them; WHEREAS, Owner holds the fee simple title to the land in the City of Miami, Miami -Dade County, Florida described in Exhibit "A", attached hereto and made a part hereof (the "Property"); and WHEREAS, the City of Miami (the "City") has adopted Affordable Housing Special Benefit Program Supplemental Regulations (the "Regulations") as part of its Miami 21 Zoning Code; and WHEREAS, the Regulations are established to facilitate the development of high quality affordable housing in the City by providing development incentives including, but not limited to, modifications of architectural/design standards and parking reductions; and WHEREAS, the City of Miami Office of Zoning (the "Department") through its Zoning Administrator, is given authority to administer and effectuate the Regulations; and WHEREAS, Owner will construct a project in the City to be occupied by low or very how income families on the Property (the "Project"); and WHEREAS, Owner has agreed to assure the Department that the Project will be occupied primarily by low or very low income families according to the Regulations and the tertns stated herein; and WHEREAS, Owner is submitting this covenant to induce the Zoning Administrator to approve the special benefits as described in Section 3.15 of the Regulations. Affordable Housing Restrictive Covenant NOW THEREFORE, in consideration of the covenants and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Owner, its successors and assigns, does hereby covenant and agrees as follows: 1. General 1.1 The Project shall be occupied on a continuous basis by members of the general public and that no less than eighty percent (80%) of dwelling units within the Project shall be occupied as affordable housing servicing residents whose income does not exceed sixty percent (60%) of the then current median income for Miami -Dade County, Florida, Standard Metropolitan Statistical Area, including adjustments for family size, established by income statistics reported from time to time by the U. S. Department of Housing and Urban Development or such other entity which may succeed to perform the duties of the U. S. Department of Housing and Urban Development, for a time period of no less than thirty (30) years from the date of issuance of the final Certificate of Occupancy for the Project. 1.2 The benefits of this Agreement shall inure to, and may be enforced by, respectively, the City, and eligible persons who shall reside or be eligible to reside in the units set aside for their occupancy pursuant to Section 1..1 of this Agreement. If a material violation of any of the provisions hereof occurs or is attempted, such parties may institute and prosecute any proceeding to abate, prevent or enjoin any such violation or attempted violation; and to compel specific performance hereunder, it being recognized that the beneficiaries of the Owner's obligations hereunder cannot be adequately compensated by monetary damages in the event of the Owner's default and that no monetary damages may be awarded to any such beneficiaries or against the Owner. 1.3 It is understood and agreed that any official inspector of the City may have the right at any time during normal business hours to enter upon the Property for the purpose of investigating the use of the Property and for determining whether the conditions of this Agreement are being complied with. 2. Termination. Owner, its successors or assigns, shall have the right, upon written request delivered to the Department, with notice to the Department of Community and Economic Development, to be released and have the Project released from the terms and conditions contained herein upon the expiration of the term set forth in Section 1.1 above. 3. Covenant Running with the Land. This covenant shall constitute a covenant running with the land for the period of time set forth in Section 1.1 above, and shall remain in full force and effect and be binding upon Owner and its successors and assigns until such time as the same is modified or released or as otherwise provided in this covenant. Owner will promptly record this covenant, at its expense, and furnish the City Zoning Administrator with a certified copy of the recorded covenant within thirty days after recordation in the Public Records of Miami -Dade County, Florida. 2 Affordable Housing Restrictive Covenant 4. Governing Law. This covenant shall be governed by and construed in accordance with the laws of the State of Florida, both as to substantive rights and those governing remedies. 5. Notice. Any notice required to be given herein shall be given by personal delivery or by certified U.S. mail at the address specified below or at such other address as may be specified in writing by the parties. DEPARTMENT Barnaby L. Min, Esq. Zoning Administrator, or his designee City of Miami Office of Zoning 444 SW 2nd Avenue Fourth Floor Miami, Florida 33130 OWNER VISTA GRANDE APARTMENTS, LTD. c/o Ryan D. Bailine, Esq. Steams Weaver Miller, et al. 150 West Flagler Street Suite 2200 Miami, Florida 33130 6. Severability. If any provision of this covenant shall be invalid, illegal, or unenforceable, the validity, legality, and enforceability of the remaining provisions shall not be affected or impaired. (signatures appear on the following pages) 3 Signed, witnessed, fiA 1De-v , 2012. executed and acknowledged on this day of IN WITNESS WHEREOF, VISTA GRANDE APARTMENTS, LTD., has caused these presents to be signed in its name by its proper officials. Witnesses: /i/gna.ture 1 Li ge I/0 Print Name Signature Print Name livtAtit,1 STATE OF FLORIDA ) ) SS COUNTY OF PALM BEACH) VISTA GRANDE APARTMENTS, LTD., a Florida limited partnership By: Vista Grande Apartments GP, LLC, a Florida limited liability company By: IT Nlember of FL I, LLC, a Florida rated liability company, its sole ember By: -Wikain Fabbri, Executive Vice President The foregoing instrument was acknowledged before me by William T. Fabbri, as Executive Vice President of TRG Member of FL I, LLC, a Florida limited liability company, as sole member of Vista Grande Apartments GP, LLC, a Florida limited liability company, general partner of VISTA GRANDE APARTMENTS, LTD., a Florida limited partnership. He is personally known to me or has produced as identification. Witness my signature and official seal this 5 day of -\--EzZto-bc.),- 2012, in the County and State aforesaid. 0.9.7 Poo • Notary Public State of Florida Stavroula Kelesidis 7 My Commission DD941795 v\..o Expires 01/1G/2014 #2441608 v3 --Affordable Housing Covenant 40600 0007 c147f(lie>' NOTARY PUBLIC, STATE 0 FLORIDA Print Name: xiirogerLA,- ''.s Print Name My Commission Expires: \i/ f(72(20YA APPROVED AS TO FORM AND CORRECTNESS: APPROVED: OFFICE OF THE CITY ATTORNEY OFF Julie O. Bru, sq. City Attorney APPROVED: rnaby L. IVI* Zoning Administrator 7 DEPARTkENT OF COMMUNITY AND ECONOMIC DEVELOPMENT By: Alfredd:\ :Tan/ DePUtyl)ictoq V; #2441608 v3 --Affordable Housing Covenant 40600 0007 C. ,. Exhibit "A" Legal Description Lot 18, Less the West 10 feet thereof, and Lot 20, Less the East 10 feet thereof, and Lot 19, Block 58 South, CITY OF MIAMI, DADE CO., FLA, according to the Plat thereof as recorded in Plat Book "B", Page 41, of the Public Records of Miami -Dade County, Florida, LESS AND EXCEPT: A portion of Lot 20, Block 58 South, CITY OF MIAMI, DADE CO. FLA., according to the Plat thereof, as recorded in Plat Book "B", Page 41, of the Public Records of Miami -Dade County, Florida, being more particularly described as follows: The external area of a circular curve concave to the Northwest and having a radius of 25 feet and tangents which are 25 feet North of and parallel with the centreline of S.W. 9th Street and 35 feet Westerly of and parallel with the centreline of S.W. 2nd Avenue. All lying and being in Section 12, Township 54 South, Range 41 East, City of Miami, Miami -Dade County, Florida. A/KIA: 850 SW 2nd Avenue, Miami, FL 2441608v4 oligiof Ned in W/TK;- HAFA LOR DA: OO 1`fl o : L D .. !I'Y iked 9;r of d.* 6 d,{yof THE ICHMAN ROUP OF FLORIDA, INC. 477 South Rosemary Avenue, Suite 301 West Palm Beach, FL 33401 561-832-1114/561-832-1104 March 13, 2013 Ms. Alice Bravo Assistant City Manager City of Miami 3500 Pan American Drive Miami, FL 33133 Re: Pending Brownfield Area Designation Requests for West Brickell Tower, West Brickell View, and Vista Grande Dear Ms. Bravo: Please be advised that the owners of the three projects referenced above have no intention of requesting a real estate property tax exemption as a result of the pending brownfield area designation requests. Moreover, under no circumstance will the owners of the three referenced projects in fact request a real estate property tax exemption as a result of the brownfield areas designation. If you should have any questions or require additional information please contact me at your earliest convenience. Thank you. s WillianT( Fabbri Executi e Vice President cc: Mayor Tomas Regaldo Michael Goldstein, Esq. {00004212.DOCX. 1 )