HomeMy WebLinkAboutSubmittal-Iris Escarra-Exhibit BSubmitted into the publiep„ 4el
record f am-1(s)
on 11,114 In • City Clerk
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This instrument prepared by. and after recording return to:
Name: Iris V. Escarra, Esq.
Address: Greenberg Traurig, P.A.
333 SE 2nd Avenue
Miami. Florida 33131
(Space reserved for Clerk of -Court)
DECLARATION OF RESTRICTIVE COVENANTS
THIS DECLARATION OF RESTRICTIVE COVENANTS (the "Declaration"), made
this day of , 2017, by NR Investments .11, LLC, a Florida limited
liability company, and La Nonna Management, LLC, a Florida limited liability company,
(collectively, 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, 70 NE 17 Street, Miami, Florida 33132, legally described in Exhibit "A" attached
hereto and made a part hereof (the "Property"); and
WHEREAS, Owner intends to develop the Property as a mixed -use residential building
with approximately 255 residential units and with approximately 8,000 square feet of
commercial area on the ground floor pursuant to Zoning Ordinance 13114, as amended, of the
City of Miami ("Miami 21") Section 3.14 Public Benefits Program; and
WHEREAS, Owner has agreed to satisfy the Public Benefits Bonus in accordance with
Miami 21 Section 3.14.4 (a)(1)1 with the reservation of at least (a) ten percent (10%) of the total
Affordable/workforce housing on site of the development. For each square foot of affordable/workforce housing (including pertaining shared
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.
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Submitted into the public,,L ��
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on \1, I ��� . City Clerk
NR Investments 11, LLC Public Benefits Covenant
number of residential units on the Property as workforce housing units, if the residential units are
sold as condominium units, or (b) fourteen percent (14%) of the total number of residential units
on the Property as workforce housing units if the residential units are leased to tenants as an
apartment building; and
WHEREAS, workforce housing units shall be as defined in City Code Section 13-52 (the
"Units for Workforce Housing"); and
WHEREAS, Owner shall designate the specific Units for Workforce Housing and
identify the maximum purchase price(s) and/or maximum rental amounts through a workforce
housing covenant (the "Workforce Housing Covenant") to be recorded at such time as the Units
for Workforce Housing are identified, which must be no later than the completion of the design
of the building; and
WHEREAS, upon recordation of the Workforce Housing Covenant identifying the
specific Units for Workforce Housing, all other Property shall be released from this Declaration.
NOW, THEREFORE, Owner voluntarily covenants and agrees that the Property shall be
subject the following covenants that are intended and shall be deemed to be covenants running
with the land and binding upon the Owner of the Property, its successors in interest, heirs, and
assigns, as follows:
2 Workforce housing shall mean, solely for purposes of this article, owner -occupied and/or rental housing with a purchase cost, value, or monthly
rental, as applicable, equal to or Tess than the amounts established by the applicable standards for those individuals whose income is between 80
percent to 140 percent of area median income as determined by the City's Department of Community and Economic Development in relation to
the affordable housing and workforce housing impact fee deferral program provided for in this article.
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NR Investments 11, LLC Public Benefits Covenant
Submitted into the publcL ��
record fo ite (s
on i1_II4 / is' . City Clerk
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. Public Benefit Program: Workforce Housing Restriction. Owner has agreed to
satisfy the Public Benefits Bonus in accordance with Miami 21 Section 3.14.4 (a)(1) with the
reservation of the Units for Workforce Housing. The Units for Workforce Housing shall contain
design finishes consistent with the standard market rate units. Furthermore, Owner shall not
sell, lease, or otherwise convey any interest in the Units for Workforce Housing for any
consideration to a household with an income in excess of 140% of the area median income of
Miami -Dade County as determined by the Department of Community and Economic
Development. Upon recordation of the Workforce Housing Covenant identifying the specific
Units for Workforce Housing, all other Property shall be released from this Declaration.
3. Effective Date. This instrument shall constitute a covenant running with the title
to the Property and be binding upon Owner, its successors, heirs, and assigns upon recordation
by the Owner 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, its successors in interest,
heirs and assigns for an initial period of thirty (30) years from the date this instrument is
recorded in the public records, and shall be automatically extended for periods of ten (10) years,
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Submitted into the publ c� ti
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NR Investments 1 I, LLC Public Benefits Covenant
unless modified, amended or released pursuant to this Declaration prior to the expiration
thereof. However, use restrictions regarding Units for Workforce Housing shall not exceed
thirty (30) years, commencing from the date of the Close -Out of the Project, which is in
accordance with Florida Statute 420. Close -Out of the Project is defined as the date on which the
Project has obtained all of the required Certificate(s) of Occupancy and all Public Benefits Bonus
assisted Units have been leased to eligible tenants.
5. Applicable Law. The restrictions within this Declaration on the part of the
Owner are being made under the applicable laws of the City and of the State of Florida at the
time of the Effective Date.
6. Governing Law. The Agreement shall be construed in accordance with the laws
of the State of Florida and any proceedings arising between the parties in any manner pertaining
or relating to this Agreement shall, to the extent permitted by law, be held in Miami -Dade
County, Florida.
7. 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 of
the City of Miami's inspector 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
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NR Investments 11, LLC Public Benefits Covenant
restrain violations or to recover damages. This enforcement provision shall be in addition to any
other remedies available under the law. Each party shall bear their own attorney's fees.
8. Modification, Amendment, and Release. This instrument may be modified,
amended, or released as to any portion or all of the Property only after occurrence of either
(1) satisfaction by other means permitted by Section 3.14 of Miami 21, including but not limited
to payment into the City of Miami Affordable/Workforce Housing Trust Fund as satisfaction of
the Public Benefit Program; or (2) a public hearing before the Planning Zoning and Appeals
Board and the City Commission. All costs associated with all public hearings shall be paid by
the Owner. Any modification, amendment, or release approved by the City Commission shall be
executed by the City Manager, or his authorized designee, and be in a form acceptable to the
City Attorney.
9. Severability. Invalidation of any one of these covenants by judgment of Court
shall not affect any of the other provisions of this Declaration, which shall remain in full force
and effect.
10. Recording. This Declaration shall be filed of record among the Public Records of
Miami -Dade County, Florida, by Owner and at the cost of Owner. Owner shall furnish a
certified copy of the recorded Declaration to the City Department of Hearing Boards and the
Planning Department within thirty (30) days of recordation.
11. No Vested Rights. Nothing in this covenant shall be construed to create any
vested rights whatsoever for the Owner, its successors, heirs, and assigns.
SIGNATURE PAGES TO FOLLOW
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Submitted into the public
record fol.
pt. 7.�
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on / ICity Clerk
NR Investments 1 1, LLC Public Benefits Covenant
IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of
, 2017.
Witnessed by: NR Investments 11, LLC,
A Florida limited liability company
By:
Name: Terry Wellons, Authorized Manager
Name:
STATE OF FLORIDA )
) ss:
COUNTY OF MIAMI-DADE )
The foregoing instrument was acknowledged before me this day of
2017 by Terry Wellons, of NR Investments 11, LLC. He personally appeared before me, is
personally known to me or produced as identification.
Name:
Notary Public, State of Florida
Commission No.
My commission expires:
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Submitted into the public
record oyite /(I Q Z' V1
on It ' �t City Clerk
NR Investments 11, LLC Public Benefits Covenant
IN WITNESS WHEREOF, the undersigned has set his hand and seal this day of
, 2017.
Witnessed by: La Nonna Management, LLC,
A Florida limited liability company
By:
Name: Ricardo Immediato-Scuotto,
Authorized Manager
Name:
STATE OF FLORIDA )
) ss:
COUNTY OF MIAMI-DADE )
The foregoing instrument was acknowledged before me this day of ,
2017 by Ricardo Immediato-Scoutto, of La Nonna Management, LLC. He personally appeared
before me, is personally known to me or produced as identification.
Name:
Notary Public, State of Florida
Commission No.
My commission expires:
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NR Investments 11, LLC Public Benefits Covenant
APPROVED AS TO LEGAL
FORM AND CORRECTNESS:
Victoria Mendez,
City Attorney
APPROVED AS TO CONTENTS:
Francisco Garcia, Director
Planning and Zoning Department
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Submitted into the pub c
record for ite
on it I(s)
l' 1 I' . City Clerk
NR Investments 11, LLC Public Benefits Covenant
Exhibit "A"
LEGAL DESCRIPTION:
Submitted into the pubRe
record for/ item(s) 2,, l,r1
on itipi . City Clerk
Lots 3 ard 4, LESS the East ten feet of Lot 4, Block 8, of NORTH MIAMI ROBBINS, GRAHAM tit
CHILLNGWORTII ADDITION, according ti) the Plat the,reof recorded in Plat Book "A", cat Page, 49 1/2, of the
Public Records of Miar-ii—Dade County, Florida.
TOGETHER WITH:
Lot 1, LESS the North five feet and the East ten feet, Block 8, of NORTH MIAMI ROBBINS, GRAHAM &
CHILLNGWORTH ADDITION, according to the Plat thereof recorded in Plot Book "A". a: Page 49 1/2, of the
Public Records of Miarni—Code County, Florida.
TOGETHER WITH:
Lot 2. LESS the North ter feet, Block 8, of NORIll MIAMI ROBBINS, GRAHAM & CHILLNGWORTH ADDITION,
acceding to :he Pia: thereof recorded in Plat Book "A", at Page 49 1/2, of the Public Records of
Miarni—Dade County, Florida.
TOGETHER WITH
THAT POR7ON OF THE to' ALLEY THAT WAS VACATED AND RESERVED AS A UTILfTY EASEMENT BY THE CITY OF
MIAMI ORLINANCE NO, `,3492 REFERENCE "VAS INCEX" 23H14 AS RECORDED IN OFFICIAL RECORDS .30'DK
29877, PAGE 4214.
A portion of the ter (10) foot wide alley lying adjacent to Lots- 1, 2. 3 and 4. Block 8, of NORTH MIAMI
(ALSO KNOWN AS RDBBINS, GRAHAM AND CHIWNMVORTH SLIBDPVISION), according to the Plat thereof as
recorded In Plat Bock A, Page 49 `,6, of the Public Records of Miami —Dade County, Florida, all being more
particularly described as follows!
Begin at the Southwest corner of said Lot 4, Block 8: thence North 00'39'54" East along the West lire of
said Lots 4 and t, Block 8, or 114.92 feet; ihence South 9000'00" West along a line 30.00 feet South of
and parallel with the center lire of N.E. 17th Street as shown on said Plat Book "A" at Pages 49 h on
Plat Book 4 at Page 60, for 5.00 feet to a point an tho centerlire of said teri (10) foot wide alley; thence
South 00'39'54 Wes:, along said centerline of the alley, 'or 5.00 4eet: thence South 90'0000* West for
5.00 feet to a point on the East line of said Lot 2, Block 8 thence South 0039'54 West along the East
line of said Lots 2 and 3, Blocx 8, for 109.92 feet to the Southeast corner of said Lot 3, Block 8; thence
along the Easterly extension of the South lire of said Lot 3. Block 8, for 10.00 feet to the Point of
Bogirring.
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