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HomeMy WebLinkAboutExhibit B - SUBThis instrument prepared by, and after recording return to: Name: Iris V. Escarra, Esq. Address: Greenberg Traurig, P.A. 333 SE 2"d Avenue Miami, Florida 33131 f Soaceleserved for Clerk of Cou.t DECLARATION OF RESTRICTIVE COVENANTS THIS DECLARATION OF RESTRICTIVE COVENANTS (the "Declaration"), made this day of , 2016, by 14 Plaza Corp., a Florida profit corporation having offices at 425 N.E. 22nd Street, Suite #301, Miami, Florida 33137 (the "Owner"), in favor of the City of Miami, Florida, a municipality of the State of Florida (the "City"). WITNESSETH: WHEREAS, Owner holds fee -simple title to certain property in the City of Miami, Florida, located at 1424 N.E. Miami Place, legally described in Exhibit "A" attached hereto and made a part hereof (the "Property"); and WHEREAS, Owner intends to build the above approved development on the Property as Mixed -Use Residential with Commercial area on the ground floor and will reserve ninety-six (96) of the total number of residential units as workforce housing units (the "Units"); and WHEREAS, Owner has applied to the City of Miami for the waiver of developmental impact fees related to the number of Units of the project pursuant to the eligibility requirements for deferral of impact fees per Section 13-8 and 13-16 of the City Code; and MIA 185387166v1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 14-WOSNac- Ex\A1151\ 6 - S 0 • • WHEREAS, Owner is desirous of deferring these developmental impact fees until such time as the Units no longer qualify as workforce housing units. WHEREAS, the City acknowledges that upon the closing of the Units by Owner, Owner will no longer be responsible for any monies due should the Units cease to meet the applicable criteria of the impact fee deferral program and shall be released in accordance with this covenant. NOW, THEREFORE, the Owner, during its ownership of the Units, or its successors and assigns, (the "Subsequent Unit Owner"), voluntarily covenants and agrees' that when the Unit no longer qualifies as a workforce housing unit that the development impact fees that would be normally due at the time of the issuance of this permit for this development would become due and payable to the City and the Owner, during its ownership of the Unit or the Subsequent Unit Owner, will promptly pay, within thirty (30) days, in full such fees. The Owner, during its ownership of the Unit or the Subsequent Unit Owner, agrees that this will be a covenant running with the land and binding upon the Owner of the Property, its successors in interest and assigns, as follows: 1. Recitals. The recitals and findings set forth in the preamble of this Declaration are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. 2. Workforce Housing Restriction. Owner shall reserve ninety-six (96) of the total number of residential units as workforce housing units (the "Units") described as housing priced up to 140% of the area median income as certified by the City of Miami's Department of Community and Economic Development. MIA 185387166v1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 3. Effective Date. This instrument shall constitute a covenant running with the title to the Property and be binding upon Owner, during its ownership of the Unit or the Subsequent Unit Owner, its successors and assigns upon recordation in the Public Records of Miami -Dade County, Florida. These restrictions shall be for the benefit of, and a limitation upon, all present and future owners of the Property and for the public welfare. 4. Term of Covenant. This voluntary covenant on the part of the Owner shall remain in full force and effect and shall be binding upon the Owner, during its ownership of the Unit, or the Subsequent Unit Owner its successors in interest and assigns for an initial period of thirty (30) years from the date this instrument is recorded in the public records, and presuming that the Owner or Subsequent Unit Owner is in compliance with every term and condition herein, shall be automatically extended for two (2) successive periods of ten (10) years, unless modified; amended or released prior to the expiration thereof. 5. Inspection and Enforcement. It is, understood and agreed that any official inspector of the City of Miami may have the right at any time during normal working hours to enter upon the Property for the purpose of investigating the use of the Property, and for determining whether the conditions of this Declaration and the requirements of the City's building and zoning regulations are being complied with. An action to enforce the terms and conditions of this Declaration may be brought by the City and may be by action at law or in equity against any party or person violating or attempting to violate any covenants of this Declaration or provisions of the building and zoning regulations, either to restrain violations or MIA 185387166v1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of , 2016. Witnessed by: 14 Plaza Corp., A Florida profit corporation By: Name: Martin Ferreira de Melo Name: STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE) The foregoing instrument was acknowledged before me this day of 2016 by Martin Ferreira de Melo, of 14 Plaza Corp. He personally appeared before me, is personally known to me or produced as identification. MIA 185387166v1 Name: Notary Public, State of Florida Commission No. -My commission expires: THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. • IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of , 2016. CITY OF MIAMI, a municipal corporation of the State of Florida ATTEST: By: Print Name: Daniel J. Alfonso, City Manager Print Name: STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE) The foregoing instrument was acknowledged before me this day of 2016 by Daniel J. Alfonso, as City Manager of the City of Miami. He personally appeared before me, is personally known to me or produced as identification. APPROVED AS TO LEGAL FORM AND CORRECTNESS: Victoria Mendez, City Attorney APPROVED AS TO CONTENTS: Name: Notary Public, State of Florida Commission No. My commission expires: Francisco Garcia, Director George Mensah, Director Planning and Zoning Department Community and Economic Development MIA 185387166v1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Exhibit "A" THE LAND DESCRIBED HEREON 15 AS PER THE TITLE COMMITMENT PREPARED BY FIRST AMERICAN TITLE INSURANCE COMPANT, FILE'NUMER 17568-0283. LOT 3, IN BLOCK 17, OF ROBBINS-GRAHAM AND CHILLINGSWORTH ADDITION THE CITY OF IVIIAMI, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "A", AT PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. LOTS 5, 6, AND NRTH 1/2 OF LOT 7 AND ALL OF LOT 8 IN BLOCK 17 OF ROBBINS- GRAHAM AND CHILLINGSWORTH ADDITION, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "A", PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. LOTS 9 AND 12 LESS THE NORTH 1 FOOT OF LOT 9, BLOCK 17, OF NORTH MIAMI, MORE COMMONLY KNOWN AS ROBBINS-CHILLINGSWORTH ADDITION, ACCORDING TO THE PLAT THEREOF RECORDED IN PLAT BOOK "A", PAGE 49 1/2, OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. SOUTH HALF OF LOT 7, IN BLOCK 17 OF NORTH MIAMI, ACCORDING TO THE PLAT THEREOF RECORDED IN PLAT BOOK "A" AT PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. LOT 4, BLOCK 17, OF ROBBINS, GRAHAM AND CHILLINGWORTHS SUBDIVISIQN, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "A", PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. 1 MIA 185387166v1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. This ins ent prepared by, and after recording return to: Name: Iris V. Escarra, Esq. Address: Greenberg Traurig, P.A. 333 SE 2nd Avenue iami, Florida 33131 SUBSTITUTED /Chace reverved for Clerk of Court\ DEC ' TION OF RESTRICTIVE COVENANTS THIS DECLARATI t OF RESTRICTIVE COVENANTS (the "Declaration"), made this day of 2016, by 14 Plaza Corp., a Florida profit corporation having offices at 425 N.E. 22nd Street, Suite 01, Miami, Florida 33137 (the "Owner"), in favor of the City of Miami, Florida, a municipality of t' State of Florida (the "City"). WITN SETH: WHEREAS, Owner holds fee -simple titl-` ,o certain property in the City of Miami, Florida, located at 1424 N.E. Miami Place, legally des -'bed in Exhibit "A" attached hereto and made a part hereof (the "Property"); and WHEREAS, Owner intends to develop the Property a ixed-Use Residential building with 710 Units with Commercial area on the ground floor with a oximately 282,000 Square Feet of bonus pursuant to Zoning Ordinance 13114, as amended of th= ity of Miami ("Miami 21") Section 3.14 Public Benefits Program; and WHEREAS, Owner has agreed to satisfy the Public Benefits Bonus in cordance with Miami 21 Section 3.14.4 (a)(1)1 with the the reservation of ninety-six (96) of the to : number of residential units equaling approximately one hundred and forty-one thousand square ' et as Affordable/workforce housing on site of the development. For each square foot of affordable/workforce housing (including pertaining sh space such as parking and circulation) provided on site, the development shall be allowed two square feet of additional area up to the bonus Height and FLR as described in Section 3.14.1. SUBSTITUTED wo orce housing units, as defined in City Code Section 13-52 (the "Units for workforce housinas well"as, through Public Plaza dedication and improvements in accordance with Miami 21 1\\;` tion 3.14.4 (b)(1)(i) and (ii) ; and Owner . ees that this will be a covenant running with the land and binding upon the Owner of the Prope ' its successors in interest and assigns, as follows: 1. Recitals. he recitals and findings set forth in the preamble of this Declaration are hereby adopted by ref-`" nce thereto and incorporated herein as if fully set forth in this Section. 2. Public Benefit Pro r. i, : Workforce Housin Restriction. Owner has agreed to satisfy the Public Benefits Bonus in ac dance with Miami 21 Section 3.14.4 (a)(1) with the reservation of ninety-six (96) of the total nu `.er of residential units equaling approximately one hundred and forty-one thousand square feet (14 , 00 SF) as workforce housing units as defined in City Code Section 13-5 (the "Units for workforc dousing"). Furthermore, Owner shall not sell, lease, or otherwise convey any interest in the Units any consideration in excess of 140% of the area median income as determined by the Departm:";t of Community and Economic Development. 3. Public Benefit Pro ram: Plaza Dedication and Im . ro -. ents. Owner has also agreed to provide as an alternative satisfaction of the Public Benefit P �' � am, a plaza on the Property and abutting the School Board Metro mover Stop, including th land and plaza improvements as part of the redevelopment of the Property. 2 Workforce housing shall mean, solely for purposes of this article, owner -occupied and/or rental housing with a purchase cost, value, o ,. onthly rental, as applicable, equal to or less than the amounts established by the applicable standards for those individuals whose income is betty: 80 percent to 140 percent of area median income as determined by the department of community and economic development in relation to the affordable housing and workforce housing impact fee deferral program provided for in this article. SUBSTITUTED Effective Date. This instrument shall constitute a covenant running with the title to the •erty and be binding upon Owner, its successors and assigns upon recordation in the Public Rec.'';'s of Miami -Dade County, Florida. These restrictions shall be for the benefit of, and a limitation on, all present and future owners of the Property and for the public welfare. 5. Term f Covenant. This voluntary covenant on the part of the Owner shall remain in full force and=`.ect and shall be binding upon the Owner, its successors in interest and assigns for an initial period thirty (30) years from the date this instrument is recorded in the 4 public records, and shall be a: _ .matically extended for periods of ten (10) years, unless modified, amended or released pr:. to the expiration thereof. However, use restrictions regarding work force housing, any such restrictions shall not exceed those twenty (20) years, in accordance with Florida Statute 420. 6. Inspection and Enforcement. It understood and agreed that any official inspector of the City of Miami may have the right at y time during normal working hours to enter upon the Property for the purpose of investigate the use of the Property, and for determining whether the conditions of this Declaration an the requirements of the City's building and zoning regulations are being complied with. An a .',•n to enforce the terms and conditions of this Declaration may be brought by the City and may by action at law or in equity against any party or person violating or attempting to violate a covenants of this Declaration or provisions of the building and zoning regulations, either to res in violations or to recover damages. This enforcement provision shall be in addition to any o r remedies available under the law. SUBSTITUTED Amendment and Modification. This instrument may be modified, amended, or releas• as to any portion or all of the Property only after occurrence of either (1) satisfaction by other mea ' permitted by Section 3.14 of Miami 21, including but not limited to payment into the City of mi Affordable/Workforce Housing Trust Fund of $2,851,000 (282,000 SF x $10.11) as satisfac n of the Public Benefit Program or (2) a public hearing before the Planning Zoning and Appe. Board and the City Commission. Any amendment or modification approved by City Commission shall be executed by the City Manager, his successor, or designee, and be i form acceptable to the City Attorney. 8. Severability. Invalion of any one of these covenants by judgment of Court shall not affect any of the other provisi. ' of this Declaration, which shall remain in full force and effect. 9. Recording. This Declaration shal - filed of record among the Public Records of Miami -Dade County, Florida, at the cost of the Own The Owner shall furnish a copy of the recorded Declaration to the City Department of Hear' Boards within thirty (30) days of recordation. SIGNATURE PAGES TO FOLLO SUBSTITUTED IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of , 2016. Witnessed by: 14 Plaza Corp., A Florida profit corporation By: Name: Martin Ferreira de Melo Name: STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledg 2016 by Martin Ferreira de Melo, of 14 Plaza C personally known to me or produced as ide Name: Notary Public, Sta of Florida Commission No. My commission expir before me this day of , . He personally appeared before me, is 'fication. SUBSTITUTED OVED AS TO LEGAL FOND CORRECTNESS: Victoria Men. -z City Attorney APPROVED AS T. CONTENTS: Francisco Garcia, Directo Planning and Zoning Depa ent THE L BY FIRS SUBSTITUTED Exhibit "A" DESCRIBED HEREON 15'AS PER THE TITLE COMMITMENT PREPARED MERICAN TITLE INSURANCE COMPANT, FILE NUMER 17568-0283. LOT 3, IN B . I CK 17, OF ROBBINS-GRAHAM AND CHILLINGSWORTH ADDITION THE CITY OF • MI, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "A", AT. ' GE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA. LOTS 5, 6, AND NRT 2 OF LOT 7 AND ALL OF LOT 8 IN BLOCK 17 OF ROBBINS- GRAHAM AND CHIL ► ' GSWORTH ADDITION, ACCORDING TO THE PLAT THEREOF, AS RECORD IN PLAT BOOK "A", PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DAD OUNTY, FLORIDA. LOTS 9 AND 12 LESS THE NO1 FOOT OF LOT 9, BLOCK 17, OF NORTH MIAMI, MORE COMMONLY KNO AS ROBBINS-CHILLINGSWORTH ADDITION, ACCORDING TO THE PLAT THE RECORDED IN PLAT BOOK "A", PAGE 49 1/2, OF THE PUBLIC RECORDS OF MIAM ADE COUNTY, FLORIDA. SOUTH HALF OF LOT 7, IN BLOCK 17 O THEREOF RECORDED IN PLAT BOOK "A" OF MIAMI-DADE COUNTY, FLORIDA. ORTH MIAMI, ACCORDING TO THE PLAT PAGE 49 1/2 OF THE PUBLIC RECORDS LOT 4, BLOCK 17, OF ROBBINS, GRAHAM A ► CHILLINGWORTHS SUBDIVISION, ACCORDING TO THE PLAT THEREOF, AS RECO' , D IN PLAT BOOK "A", PAGE 49 1/2 OF THE PUBLIC RECORDS OF MIAMI-DADE CO TY, FLORIDA.