HomeMy WebLinkAboutExhibit A SUBTHIS ITEM IS A SUBSTITUTION. THE
ORIGINAL MAY BE SEEN AT THE END
OF THIS DOCUMENT.
Proiect "A"
Name: City Acquisition of Land
Developing Entity: To Be Determined
GOB funds proposed: $850,000
Program Description: Funding under this strategy will be used by the City of Miami to acquire buildable
vacant parcels of land suitable for the development of mixed use/mixed income affordable rental or
homeownership developments/ units. Acquired sites shall be used for developments/ units build by the
City of Miami or by organizations that have been procured through a competitive request for proposals
(RFP) process.
Development financing for projects that have been selected through an RFP process, shall be the
responsibility of the Development/Owner Organization. If partial funding is provided by the City of Miami,
it shall be in accordance with the specifications detailed in the RFP.
Maximum Award: Funding for projects developed by the City of Miami shall come from any Federal, State,
and/or local sources available to the City, and shall be determined based upon the needs and structure of
the proposed development.
City Funding Sources: City of Miami General Obligation Bond, Home Investment Partnership Program
(HOME), State Housing Partnership Program (SHIP), Community Development Block Grant (CDBG),
Affordable Housing Trust Funds (AHTF) and other sources of funding that may become available to the
City.
Development Type: Mixed income and mixed0-use multifamily rental apartment building(s) of 5 or more
units, containing, units of various sizes, with or without common amenities and, single family
development of 5 or more homeownership units. Project designs and specifications in compliance with
City of Miami planning and zoning requirements. Building construction in compliance with City of Miami
and Florida Building Codes.
Income levels served: Proposed developments shall serve Extremely Low, Very Low, Low and Workforce
level incomes.
Development Ownership: Private fee simple or leasehold ownership through For -Profit or Not -For -Profit
corporations solely or through Partnerships, OR City of Miami owned
Compliance: The City of Miami's Department of Housing and Community Development shall be
responsible for the contractual/regulatory compliance of all developments assisted. Annual compliance
monitoring shall be conducted by City staff that will review project rent rolls, leases, tenant income files,
financial statements, current operational licenses and certificates, annual inspection of units, etc.
Loan Servicing: The City of Miami's Department of Housing and Community Development shall provide
all loan servicing, I.e. monthly billing and collection, maintaining current property insurances, tracking
delinquencies, providing all required reporting, etc.
FILE NO. 5643 EXHIBITA
Private First Mortgage
Miami Dade County
City of Miami GOB
LP Equity/DDF
Total Project Cost
Project "B"
Name: Platform 3750 at Frankie Shannon Rolle Center
Developing Entity: Platform 3750, LLC
GOB funds proposed: $3,500,000.00
Development/Ownership Group: Platform 3750 LLC is a State of Florida Limited Liability Company whose
principal has overseen the development of approximately 100 affordable, mixed income, mixed use and
homeownership communities across the State of Florida. In Miami Dade County. Through the parent company
The Cornerstone Group has developed over 7,800 units in Miami Dade County.
Development Description: The proposed 3750 at Frankie Shannon Rolle Center, will consist of a mixed -use
residential, retail and office Transit Oriented Development located in the City of Miami's District 2, at 3750 S.
Dixie Highway, Miami, Florida. The development will provide a total of 189 units serving various income levels,
along with 20,000 square feet of commercial retail space and 12,585 square feet of office space. New housing
units will be available for tenants with income levels of up to 33% to 60% of AMI, up to 140% of AMI, as well
as market rate units. The development amenities include, fully equipped fitness center with virtual fitness classes,
rooftop pool, business, center, community rooms and on site 24-hour management. 450 parking spaces are
provided. The commercial component of the development is projected to provide up to 250 construction jobs and
up to 57 permanent jobs in the retail, office and management operations.
The development will provide each unit with low VOC paint, high impact windows, water sense certified
showerheads, air conditioning with a minimum SEER rating of 15, daylight sensors and timers programmable
thermostats high efficiency hot water heaters, native landscaping and shade trees, high efficiency security lighting,
water preserving fixtures, as well as other cost and energy saving features.
Unit Mix:
Studio/ 1BA 58
1 BR/ 1 BA 66
2 BR/ 2 BA 65
Total 189
Target income Levels:
ELI (30% AMI)
VLI (50%- 60% AMI)
LI (80% AMI)
WF (Up to 140% AMI)
Market Units
Retail Facility
Office Facility
2 units (GOB units)
74 units (GOB units)
3 units (GOB units)
2 units (GOB units)
108 units
20,000 Square Feet (GOB Economic Development)
12,585 Square Feet
Project Financing and Development Costs:
$50,800,000
6,500,000
3,500,000
17,104,567
$77,904,567
Project "C"
Name: The Gallery at River Parc
Developing Entity: The Gallery at River Parc, LLC
GOB funds proposed: $800,000.00
Development/Ownership Group: The Gallery at River Parc, LLC is a State of Florida Limited Liability
Company organized under the partnership of The Related Group of South Florida and The Urban Development
Group. The principals of these organizations are responsible for the development and management of over
1,500 permanent affordable housing units through the State of Florida. In 2011, the principals through Related
Urban were awarded the development rights to preserve and redevelop 12 Miami Dade County public housing
sites. Their partnership with Miami Dade County has resulted in the development and redevelopment of over
1,000 affordable and public housing units.
Development Description: The proposed The Gallery at River Parc, will consist an 11-story building
containing a total of 150 units plus ground floor retail located in the City of Miami's District 3 at NW 13th Court
and NW 7th Street, Miami, Florida. The development will provide a mix of extremely low income, units low
income units and workforce units. Amenities will include a fitness center, business center, multipurpose room
and swimming pool, with surface parking. Each unit will have a washer and dryer, as well as high impact
resistance windows, energy star rated appliances, low VOC interior paint, low flow plumbing fixtures, high
efficiency HVAC and water heaters as well as other cost and energy saving features.
Unit Mix:
Studio/ 1BA 40
1 BR/ 1 BA 70
2 BR/ 2 BA 40
Total 150
Target Income Levels:
ELI (30% AMI) 30 units (6 GOB units)
LI (80% AMI) 45 units (24 GOB units)
WF (Up to 140% AMI) 75 units
Total Units 150 units
Project Financing and Development Costs:
Tax Credit Equity $ 6,583,630
Private First Mortgage 22,150,000
Miami Dade County 3,300,000
City of Miami GOB 800 000
D/F 4,370,003
Total Project Cost $37,203,633
Project "D"
Name: MJLH Apartments
Developing Entity: MJ LH 337 NW 11 Ave. LLC
GOB funds proposed: $229,000.00
Development/Ownership Group: The MJ LH 337 NW 11 Ave, LLC is a State of Florida Limited Liability
whose principals have collective experiences in the construction, remodeling and leasing of affordable housing.
Collectively they are in the process of developing several affordable housing developments under the double
density attainable mixed income housing code provide for in the City of Miami's Miami 21 code. Together the
principals have purchased and remodeled over 250 single and multifamily units and currently own a portfolio of
rental properties.
Development Description: The proposed development located in the City of Miami's District 3 at 337 NW
116 Avenue, Miami, Florida, will consist a two a (2) story building containing a total of 8-2 Bedroom/2 Bath
rental units. The development will provide a mix of extremely low income, units low income units and workforce
units. Each unit will have a washer and dryer, as well as high impact resistance windows, energy star rated
appliances, low VOC interior paint, low flow plumbing fixtures, high efficiency HVAC and water heaters, as well
as other cost and energy saving features.
Unit Mix:
2 BR/ 2 BA 8 Units
Target Income Levels:
ELI (30% AMI) 1 unit ( GOB unit)
VLI (50% AMI) 1 unit (GOB unit)
WF (Up to 140% AMI) 6 units (GOB units)
Market Units 8 units
Project Financing and Development Costs:
Private First Mortgage $ 873,130
City of Miami GOB 229,000
Developer Equity 502,000
Total Project Cost $1.,604,130
Project "E"
Name: Liberty Square Phase Three
Developing Entity: Liberty Square Phase Three, LLC
GOB funds proposed: $750,000.00
Development/Ownership Group: Liberty Square Phase Three, LLC is a State of Florida Limited Liability
Company organized under the partnership of The Related Group of South Florida and The Urban Development
Group. The principals of these organizations are responsible for the development and management of over
1,500 permanent affordable housing units through the State of Florida. In 2011, the principals through Related
Urban were awarded the development rights to preserve and redevelop 12 Miami Dade County public housing
sites. Their partnership with Miami Dade County has resulted in the development and redevelopment of over
1,000 affordable and public housing units.
Development Description: The proposed Liberty Square Phase Three development is the third phase of the
master plan to redevelop the 57-acre Liberty Square project built in the 1940's in the City of Miami's District 5.
The proposed phase will include the construction of six, three story buildings consisting of 192 new units on
approximately 6 acres of land. The new buildings will replace the existing 18 row house buildings containing 100
units with 192 garden style affordable housing units which will serve very low and low-income residents.
Amenities will include as high impact resistance windows, energy star rated appliances, low VOC interior paint,
low flow plumbing fixtures, high efficiency HVAC and water heaters as well as other cost and energy saving
features.
Unit Mix:
1BR/1BA
2 BR/ 1 BA
3BR/2BA
4 BR/ 2 BA
Total
12
144
24
12
192
Target Income Levels:
PH Units
VLI (50% AMI)
LI (80% AMI)
Total Units
71 units
17 units (GOB units)
104 units (GOB units)
192 units
Project Financing and Development Costs:
Tax Credit Equity
Miami Dade Bonds
Miami Dade County Funds
City of Miami GOB
State of Florida SAIL
D/F
Total Project Cost
$18,335,796
15,850,000
3,000,000
750,000
6,450,000
4,057,956
$48,443,752
, Project "F"
Name: Vineyard Villas
Developing Entity: Vineyard Villas, LLC
GOB funds proposed: $1,871,000
Development/Ownership Group: Vineyard Villas, LLC is a State of Florida Limited Liability Company
organized under the partnership whose principals have over 30 years of combined experience and have
developed thousands of affordable and workforces housing affordable apartment units throughout Florida and
Texas including 10 projects in Miami -Dade County. Through their parent company Magelian Housing LLC,
they have developed in excess of 1,500 multifamily housing units.
Development Description: Vineyard Villas will be a mixed income, mixed use development located in the City
of Miami's District 1 at 3372 NW 17ah Avenuem Miami, Florida. The development is planned to contain a total
of 75 units serving an elderly population earning at an average 60% of the Area Median Income. The development
will consist of two structures containing 64 one -bedroom units and 11 two -bedroom units. Amenities will include
open air decks and barbeque grills, community rooms, private offices and commercial space.
Additionally, high impact resistance windows, energy star rated appliances, low VOC interior paint, low flow
plumbing fixtures, high efficiency HVAC and water heaters, a curated community garden and plublc space filed
with native plants, as well as other cost and energy saving features.
Unit Mix:
1 BR/ 1 BA 64
2BR/1BA 11
Total 75
Target Income Levels:
ELI - (28% AMI)
LI (60% AMI)
Total Units
8 units (GOB units)
67 units (GOB units)
75 units
Project Financing and Development Costs:
Tax Credit Equity $14,948,502
Private Mortgage 4,730,957
City of Miami GOB 1,871,000
D/F 1,459,328
Total Project Cost $23,009,787
SUBSTITUTED.
CITY OF MIAMI
DEPARTMENT OF HOUSING AND COMMUNITY DEVELOPMENT
EXHIBIT "A"
Project "A"
Name: Opal Gardens
Developing Entity: Opal Gardens, LLC
GOB funds proposed: $850,000.00
Development/Ownership Group: Opal Gardens, LLC is a State of s'orida limited liability company, whose
has for the past 18 years, developed and managed over 120 affordable housing units of similar development
styles to the proposed development.
Development Description: The proposed Opal Gardens, w consist of a four (4) story, mixed income, mixed
use affordable rental development, containing a total of 19, wo-bedroom, one -bathroom units and three ground
floor commercial bays, to be located in the City of Miam''s District 4, at 5185 W. Flagler Street, Miami, Florida.
Through the parent company Cornerstone
The development will provide each unit with energy' efficient appliances, water conserving fixtures and energy
star appliances. Energy efficient interior and e 'erior lighting, construction waste management, low volatile
organic compounds paints and primers, high i act windows, storm drain labels, mold prevention water heaters.
Native landscaping, building and unit maint& ing manuals, as well as other cost and energy saving features.
A laundry facility shall be provided on thr ground floor, as well as 24 parking spaces.
Unit Mix:
2 BR/ 1 BA 19
Target Income Levels:
ELI (30% AMI) 2 units (GOB Units)
VLI (50% AMI) 2 units (GOB Units)
WF (Up to 140% MI) 15 units (GOB Units)
Project financing t evelopment Cost
Developer Es ity Investment $3,300,000
City of MiaGOB $ 850,000
Total Pro'➢ct Cost $4,150,000
SUBSTITUTED.
Project "B"
Name: Platform 3750 at Frankie Shannon Rolle Center
Developing Entity: Platform 3750, LLC
GOB funds proposed: $3,500,000.00
Development/Ownership Group: Platform 3750 LLC is a State of Florida Limited ability Company whose
principal has overseen the development of approximately 100 affordable, mixe income, mixed use and
homeownership communities across the State of Florida. In Miami Dade County. hrough the parent company
The Cornerstone Group has developed over 7,800 units in Miami Dade County.
Development Description: The proposed 3750 at Frankie Shannon Rolle '"enter, will consist of a mixed -use
residential, retail and office Transit Oriented Development located in the 'ity of Miami's District 2, at 3750 S.
Dixie Highway, Miami, Florida. The development will provide a total of ":9 units serving various income levels,
along with 20,000 square feet of commercial retail space and 12,585 quare feet of office space. New housing
units will be available for tenants with income levels of up to 33% t 60% of AMI, up to 140% of AMI, as well
as market rate units. The development amenities include, fully equped fitness center with virtual fitness classes,
rooftop pool, business, center, community rooms and on site 4-hour management. 450 parking spaces are
provided. The commercial component of the development is p .+jected to provide up to 250 construction jobs and
up to 57 permanent jobs in the retail, office and managemen; operations.
The development will provide each unit with low V P C paint, high impact windows, water sense certified
showerheads, air conditioning with a minimum SEE , rating of 15, daylight sensors and timers programmable
thermostats high efficiency hot water heaters, native dscaping and shade trees, high efficiency security lighting,
water preserving fixtures, as well as other cost an.- energy saving features.
Unit Mix:
Studio/ 1BA 58
1 BR/ 1 BA 66
2 BR/ 2 BA 65
Total 189
Target Income Levels:
ELI (30% AMI)
VLI (50%- 60% AMI)
LI (80% AMI)
WF (Up to 140% MI)
Market Units
Retail Facility
Office Facility
2 units (GOB units)
74 units (GOB units)
3 units (GOB units)
2 units (GOB units)
108 units
20,000 Square Feet (GOB Economic Development)
12,585 Square Feet
Project Fi . nch and Develo
Private F. st Mortgage
Miami ii ade County
City Miami GOB
LP r quity/DDF
Ttal Project Cost
meet Costs:
$50,800,000
6,500,000
3,500,000
17,104, 567
$77,904,567
SUBSTITUTED.
Project "C"
Name: The Gallery at River Parc
Developing Entity: The Gallery at River Parc, LLC
GOB funds proposed: $800,000.00
Development/Ownership Group: The Gallery at River Parc, LLC is a State of Florida
Company organized under the partnership of The Related Group of South Florida and
Group. The principals of these organizations are responsible for the development an
1,500 permanent affordable housing units through the State of Florida. In 2011, th
Urban were awarded the development rights to preserve and redevelop 12 Mia
sites. Their partnership with Miami Dade County has resulted in the develop
1,000 affordable and public housing units.
Development Description: The proposed The Gallery at River
containing a total of 150 units plus ground floor retail located in the C.
and NW 7th Street, Miami, Florida. The development will provide
income units and workforce units. Amenities will include a fitne
and swimming pool, with surface parking. Each unit will ha
resistance windows, energy star rated appliances, low VOC
efficiency HVAC and water heaters as well as other cost an
Unit Mix:
Studio/ 1BA 40
1 BR/ 1 BA 70
2 BR/ 2 BA 40
Total 150
Target Income Levels:
ELI (30% AMI)
LI (80% AMI)
WF (Up to 140% AMI)
Total Units
Project Financin and De
Tax Credit Equity
Private First Mortgag
Miami Dade Count
City of Miami G
D/F
Total Project host
30 unit (6 GOB units)
45 un' `s (24 GOB units)
75 its
1 units
elo ment Costs:
$ 6,583,630
22,150,000
3,300,000
800 000
4,370,003
$37,203,633
imited Liability
e Urban Development
management of over
principals through Related
ade County public housing
nt and redevelopment of over
P : c, will consist an 11-story building
of Miami's District 3 at NW 13th Court
mix of extremely low income, units low
s center, business center, multipurpose room
a washer and dryer, as well as high impact
nterior paint, low flow plumbing fixtures, high
energy saving features.
SUBSTITUTED.
Project "D"
Name: MJLH Apartments
Developing Entity: MJ LH 337 NW 11 Ave. LLC
GOB funds proposed: $229,000.00
Development/Ownership Group: The MJ LH 337 NW 11 Ave, LLC is a State of Florda Limited Liability
whose principals have collective experiences in the construction, remodeling and leas ` g of affordable housing.
Collectively they are in the process of developing several affordable housing devel ments under the double
density attainable mixed income housing code provide for in the City of Miami's iami 21 code. Together the
principals have purchased and remodeled over 250 single and multifamily unit and currently own a portfolio of
rental properties.
Development Description: The proposed development located in the ' ity of Miami's District 3 at 337 NW
11t1i Avenue, Miami, Florida, will consist a two a (2) story building ,.ntaining a total of 8-2 Bedroom/2 Bath
rental units. The development will provide a mix of extremely low i ' ome, units low income units and workforce
units. Each unit will have a washer and dryer, as well as high pact resistance windows, energy star rated
appliances, low VOC interior paint, low flow plumbing fixtures, ; gh efficiency HVAC and water heaters, as well
as other cost and energy saving features.
Unit Mix:
2 BR/ 2 BA 8 Units
Target Income Levels:
ELI (30% AMI) 1 unit ( GOB it)
VLI (50% AMI) 1 unit (GO .'unit)
WF (Up to 140% AMI) 6 units (G units)
Market Units 8 units
Pro"ect Financin and Develont Costs:
Private First Mortgage $ 873,130
City of Miami GOB 229,000
Developer Equity 502,000
Total Project Cost $1.,604,130
SUBSTITUTED.
Project "E"
Name: Liberty Square Phase Three
Developing Entity: Liberty Square Phase Three, LLC
GOB funds proposed: $750,000.00
Development/Ownership Group: Liberty Square Phase Three, LLC is a State of Flo +a Limited Liability
Company organized under the partnership of The Related Group of South Florida and he Urban Development
Group. The principals of these organizations are responsible for the development a ;+ management of over
1,500 permanent affordable housing units through the State of Florida. In 2011, t , y principals through Related
Urban were awarded the development rights to preserve and redevelop 12 Mia e Dade County public housing
sites. Their partnership with Miami Dade County has resulted in the develop ent and redevelopment of over
1,000 affordable and public housing units.
Development Description: The proposed Liberty Square Phase Three development is the third phase of the
master plan to redevelop the 57-acre Liberty Square project built in t e 1940's in the City of Miami's District 5.
The proposed phase will include the construction of six, three stobuildings consisting of 192 new units on
approximately 6 acres of land. The new buildings will replace the xisting 18 row house buildings containing 100
units with 192 garden style affordable housing units which + ill serve very low and low-income residents.
Amenities will include as high impact resistance windows, ei: -rgy star rated appliances, low VOC interior paint,
low flow plumbing fixtures, high efficiency HVAC and .ter heaters as well as other cost and energy saving
features.
Unit Mix:
1BR/1BA
2 BR/ 1 BA
3 BR/ 2BA
4 BR/ 2BA
Total
12
144
24
12
192
Target Income Levels:
PH Units
VLI (50% AMI)
LI (80% AMI)
Total Units
71 ; nits
units (GOB units)
104 units (GOB units)
192 units
Project Financin • an Develo
Tax Credit Equity
Miami Dade Bo , s
Miami Dade C r4 unty Funds
City of Mia GOB
State of Fl 'da SAIL
D/F
Total Project Cost
ment Costs:
$18,335,796
15,850,000
3,000,000
750,000
6,450,000
4,057,956
$48,443,752
SUBSTITUTED.
Project "F"
Name: Vineyard Villas
Developing Entity: Vineyard Villas, LLC
GOB funds proposed: $1,871,000
Development/Ownership Group: Vineyard Villas, LLC is a State of Florida ,nited Liability Company
organized under the partnership whose principals have over 30 years of comb'; ed experience and have
developed thousands of affordable and workforces housing affordable apa ent units throughout Florida and
Texas including 10 projects in Miami -Dade County. Through their parent ' ampany Magellan Housing LLC,
they have developed in excess of 1,500 multifamily housing units.
Development Description: Vineyard Villas will be a mixed incor =, mixed use development located in the City
of Miami's District 1 at 3372 NW 17th Avenuemr Miami, Florida.. The development is planned to contain a total
of 75 units serving an elderly population earning at an average 6 % of the Area Median Income. The development
will consist of two structures containing 64 one -bedroom unit ; and 11 two -bedroom units. Amenities will include
open air decks and barbeque grills, community rioms, private offices and commercial space.
Additionally, high impact resistance windows, energy star rated appliances, low VOC interior paint, low flow
plumbing fixtures, high efficiency HVAC and water her ters, a curated community garden and plublc space filed
with native plants, as well as other cost and energy s. ping features.
Unit Mix:
1 BR/ 1 BA
2 BR/ 1 BA
Total
64
11
75
Target Income Levels:
ELI (28% AMI)
LI (60% AMI)
Total Units
Project Eiu.ancin ' and
Tax Credit Equity
Private Mortgage
City of Miami G B
D/F
Total Projec ost
units (GOB units)
6 units (GOB units)
5 units
evelo . ment Costs:
$14,948,502
4,730,957
1,871,000
1,459,328
$23,009,787