HomeMy WebLinkAboutSummary Form FRDate: 09/11/2014
AGENDA ITEM SUMMARY FORM
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FILE ID: , ��—��e�����
Requesting Department: Public Facilities/ Asset Management
Commission Meeting Date: 09/29/2014 District Impacted: 4
Type: 0 Resolution [g Ordinance n Emergency Ordinance [_ Discussion item
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Law Department
Matter 00No.
14-989
Subject Development Agreement ("Ag,eennent")with 317OHoldings, LLC("Deve|nper")for "The Blue onCoral
Wav" ("Proiect") and the Shenandoah Fire Station.
Purpose of Item:
An Ordinance of the Miami City Commission, with attachment(s), authorizing the City Manager to execute a
Development Agreement between the City of Miami ("City") and 3170 Holdings, LLC., a for profit corporation
("Developer"), in substantially the attached form, for o privately -owned property located at 3170 8VV 22'~
Street, K4bnni, Florida, agreeing to neoem/ and extend the previously approved Major Use Special Permit
"MUSP" for "The Blue on Coral Way" ("Project") under the "Pilot Program for Distressed Develo mentS�es"
and�heDeveloper has agreed todevelop and lease toOtym0restation ofapprox!rnate|y1l,U0Dsquare feet
within the Project for the purpose of erecting a five station for a term of lOQ years with two 99 year�
extensions at a cost of $10.00 per year, a onetime contribution by the City to the Developer of $1,000,000.00
and the xvo|v|ng of certain impact fees for the Project; With additional terno end conditions as more
`
See Supplemental Sheet.
Background Information
Budget Impact Analysis
NO isthis item related torevenue?
YES Is this item an expenditure? if so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO |sthis item funded 6yHomelandDefense/Neighborhood Improvement Bonds?
Start 0pCapital Cost: $1,000000l0
Maintenance Cost: $O
Total Fiscal Impact: $1'000'000.00
Final Approvals
SIGN AND D^l�
Purchasing
Chief
Bud
5~—)0C)qo
Risk Management
Dept. Director
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Subject: Development Agreement ("Aereement")with 3170HoNiDgs LUC("Deve|oper")for "The Blue unCoral
Wav" ("Prolect") and the Shenandoah Fire Station.
Background Information:
Developer holds fee simple title to the Property located at31�SW 22nd Street, Miami, Florida, (the
in the aftermath of the recent economic downturn, the Property was the subject of a foreclosure action and a
subsequent bankrUptCy proceeding, and the Coral Way MUSP expired.
Chapter 2,Section 2-213 of the City of Miami Code of Ordinances, entitled "Pilot Program for Distressed
Development Sites," provides a process for renewing and extending certain previously approved development
orders that were the subject of bankruptcy proceedings for limited term ofone year, including MUSP4
pursuant to the approval of a development agreement which includes the timeframe within which
construction must commence and those public benefits voluntarily proffered to the benefit of the City
including provision of Civil Support Space and/or Civic Space ('Pilot Program Ordinance").
The Developer has notified the [1tv's Planning and Zoning Department with a copy to the CityAttonnm/s
Office indicating that the Coral VVmy k4USP is eligible for the one year extension under the Riot Program
Ordinance as required by Chapter 2, Section 2-213(c) of the City's Code of Ordinances.
The City has attempted to secure a location within the vicinity of the Property for the construction of new
fine station to meet the Citv's need to service the continued growth generated within its' jurisdictional
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