Loading...
HomeMy WebLinkAboutBack-Up Documents CC MTG 2-25-21CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM TO: Arthur Noriega V DATE: September 29, 2020 City Manager SUBJECT: 190 SE 12th Terrace Development Feasibility FROM: Francisco J. Garcia, Director Depaituient of Planning REFERENCES: ENCLOSURES: Massing Study Property Survey The Planning Department, in collaboration with the Zoning Office, have prepared the enclosed analysis in response to the inquiry made by the Miami City Commission at their meeting of September 24th, 2020 regarding the potential development capacity, and feasibility of said development, for the parcel at 190 SE 12' Terrace (the subject parcel). The subject parcel is an irregularly shaped lot on the corner of Brickell Bay Drive and SE 12' Terrace whose area is approximately 4,500 square feet. The zoning designation of the subject parcel T6-48A-O with a Floor Lot Ratio (FLR) of 11 by right and up to 16.5 through public benefit contributions which calculated based on a Net Lot Area (NLA) of 4,500 sf. would yield 49,500 sf. of gross floor area (GLA). The height allowed by the zoning designation is 48 stories by right and 80 stories through public benefit contributions. The density available on the site is 500 units per acre which for the subject site calculated based on a 4,500 sf. area would result in a total of fifty-one (51) units available. The reduced size and irregular configuration of the parcel pose significant development constraints; additionally, the site is situated within an "established setback zone" which increases setbacks to fifteen (15') feet along the interior lot lines in addition to the ten (10') feet setbacks required along the frontages therefore reducing the buildable floorplate from an already constrained lot area of 4,500 sf. to a developable area of approximately 350 sf. On -site parking would thus be unfeasible to accommodate and vertical circulation requirements unfeasible to meet. In the aggregate, the reduced area of the site in conjunction with other applicable regulatory constraints render the site essentially undevelopable. In fact, the historic structure located on the site today could not be built pursuant to present regulations as it encroaches into otherwise required setbacks. The insert image provides a graphic representation of some of the elements and data described above. Also, attached please find a survey for reference. As always, we remain available should you have any questions. FJG/fjg C: Nzeribe Ihekwaba, PhD, PE, Chief of Operations /Assistant City Manager Joseph A. Ruiz, Esq., Zoning Director / Administrator Daniel Rotenberg, Real Estate and Asset Management Director Jeremy Calleros Gauger, Deputy Planning Director 1355 NW 93 AY soar 209 MIAMI FLORIDA 23172 TELEPHONE: (30S) 264-296O FAX: (3a5) 264-022e DRAWN 8Y AL. Noun F2nnrupn urs Jnr'. LAND SURVEYORS SURVEY ND.. 1 0001111i SHEETNO, 1 OF T VARIABLE TOTAL R1W _EC"L ,NOTES TO ACCOMPANYSKETCN OF SURVEY(SURV€YJ: T `OS SJR'VCr. S Si2UC',:.' TO 3Ca,CRT10N5. LAMTATKXi2. RESTRKTFONS, RkSFNVAfKu'SON FAs&M IuPS OF RPM.. • AE5AC DES0R911991 399004E0OV WENT ORATTORM 11LE KAi4'ANY • EGYAE4RYSURVEY WANE 9 LRA WIN° ANW pRA ORAPMCRFPRESENTATNAN OF THE SYIRVEI"N EM!FlER-WEED ON THE FIELD, COULD 1E.614HYATA SHOWN SCALER. O0SEM #TOTO CAeF • EASEMFxYTS AS SR011011 ARE PER RAT BOOK IIM.ESS OTNERN4SENOTEO. • THE TERVE-11 N04CHMENT'ASANS YSO LE ONR A.. GROLVLO ENCROAGMIEHT -ARCWTSCTS i9AL[ UERJFv2aNWai0EBW.A90NS. 9G0TRPOTI009AA1O SLTAOCA8 A.N15 T311FY187LLBE1459..0, ,BLE OF 8U6NITRA'4 I nOTFLANS0RJAN CipalmrwrFONAMTKW MR THEIR ABRROVAL FOR AUTHORQATION 00 RRA13 AY NEW CONSTR0CT,QV; WRESS OTHERWSE NOT£0. THIS FIRIAHAS NOTA71TTENBTED TO LOCATERX]HN9AND9R FOATIO4.4_ rnES' • FENON'HEHFIllw NOT DET0W0AVrt0. • TLNS PLAIN OF 810', HASHEEW PREPARED FOR THE EICLGYNE !FEE OF IKE ENRTAE3.99111R.00. WAAED HEREON..NE7CERT.-CAFE DOES NOT 07E. TOM' LWN1lRGFAR17. ' •TFAE FM'PTL000 MAPS HAVE LESMAMTED VIE HEREIN OESCRIBEO 1.09ID10 BE XT.., AY urrv+. LONE AE' COAANMRYRANELBUFF11012CWB1C914d OATS OFRU1: 90i11.2904 - dASEFLCQ9EIEVAT,NYL IS FEET [.tt.P.a CUM Inafe[awpw_B PRMAPASS. BOUNDARY SURVEY CTRAPEIC SCALE so ABBREVIATIONS AND MEANINGS KA .11 015110.0.5. { IN FEET igot = 20 fA. LEGAL DESCRIPTION: 72' aex. rN' ISISCUS \PLAICE I 1 fj/ ,3I AM► Pl.T(3—Pf L_ — -- - PRIV.T. ® ...y COUR SURVEY OFLO7 A. BLOCK3, OF HIBISCUS PLACE ACCORDING TO THE PLAT THEREOF AS RECORDED IN THE PLAT ROOKS, PAGE 119, OF THE PDBLIC RECORDS GF MIAM1.OADE G00NTY FLORIDA PROPERTY ADDRESS. 190 SE 12 TERR MIAMI. FL S3131 CERTIFICATIONS. - DADS HERITAGE TRUST 13 PLAT 1114-44) LOCATION SKETCH N.T.S. SURVEYOR'S NOTES 1), Jr SNO WiV. BEARINGS ARE REFERRED TO AN ASSUMED MERIDIAN, BY SAID PLAT IN THE DESCRIPTION OF THE PROPERTY. IF NOT, THEN BEARINGS ARE REFERRED TO COUNTY, TOWNSHIP MAPS 2). NORTH ARROW BASED ON PLAT 3). ALL ELEVATIONS SHOWN ARE REFERRED TO NATIONAL GEODETIC VERTICAL. DATUM OF 1929 GAGE COUNTY. BENCHMARK NC-2 X. LOCATOR .-No. 4101 SW ELEVA TXI1 15..06 FEET OF N.G.V.D. OF (1929). 4J. THE CLOSURE 1NTHE BOUNDARY SURVEY YSABOVE 1:7SW9 FT I HEREBY CERTIFY.. THAT THIS `BOUNDARY SURVEY' OF THE PROPERTY DESCRIBED HEREON, AS RECENTLY SURVEYED AND DRAWN UNDER MY SUPERVISION. COMPLIES WITH THE MUWMUM TECIRRCAL STANDARDS AS SET FORTH BY THE FLOR1EK BOARD OF PROFESSIONAL LAND SURVEYORS IN CHAPTER 91017.5, FLORIDA ADMINISTRATIVE CODE PURSUANT TO 472.027,, FLORIDA STATUTES. BY: 121262019 GEORGE WARM (DATE OF FIELDWORK) PROFESSIONAL LAND SUHVI-YOR NO.: 2334 STATE OF FLORIDA FIRM L.8 0 5044 (VALID COPIES OF TH15 SURVEYWILL BEAR THE EMBOSSED SEAL DE THE ATTESTING LAND SURVEYOR). REVISED ON: REVISED ON. zLTY ..IlY6 RA/ - .01T- 11-NAY. WOOD SATO. - _ B ON IFS L.B. .61R. i - MOTE sfmaNSN S : t 2 CX K � Bt •q[e - iaAs CAL MIT te;. `';PBo logo - PN MAZIONAL xC n MCI PO PC.1.46. ,.sree. B.F.- FP'l0 fEPK9. tw ce 190 SE 12th Terrace, Miami, FL 33131 Randall Mills Director of Dispositions 727.421.8789 rcmills@savills.us Mike Griffin Senior Vice President 813.335.9431 mgriffin@savills.us Subject Property 190 SE 12th Terrace, Miami, FL 33131 Location Brickell Submarket Tax District City of Miami Parcel Folio 01-0210-050-4160 Land Size 4,500+/- SF Zoning ' T6-48A-O Future Land use Restricted Commercial Building Size 1,550+/- SF (will be relocated) Building Type Office (Historic Structure) Year Built 1925 Stories 1 Transferable Density 48,000sf and 51 units Access SE 12th Terrace and Brickell Bay Flood Zone Zone A (High Flooding Risk) .im- 2 SaviliS Location Maps SW 7th St Q for+ Fey Jr h 1B SW Bth St -=a WEST BRICKELL SW 1[7TIt St App e E• C ty Centre Saks Fitt^ Aver„a M. BRICKE'LL VILLAGE BRICKELL STATION RAIL SOUTHBOU... 0 v7 SW 1 tth St ci a 5W 12tli St Southfcle Elementary ,Schooi (Z SW 13th St 171 0 Br o4ryij a arri ted Frbce'I ev Simpson Park Dr ICKC SE 7th St 0 7riy[k"s Play Tme Water Sports A' 0 J" • 190 SE 12th Terrace, Miami, FL 33131 III PM Fs!- & Steak -'.o.._e Four Seasor°s Hotei M arrL. Equirox r'c. a savills.us 3 Aventura Carol City North Miami Beach Miami Gardens Miami Lakes Hialeah 52+} North Miami Bay slandsor Gardens i8261 Surfside Hialeah 183a 1 Tamiami DC,.r Westchester University Park Kendall West '87t1 The Hammocks Kendall Coral Gables FASHION DISTRICT 9 North Bay Village F ou Miami Beach 190 SE 12th Terrace, Miami, FL 33131 savilis Aerial Maps savills.us savais Zoning Map savills.us 5 Primary Zoning - Miami 21 *El T1 NATURAL ❑ T3 SUB -URBAN ❑ Td GENERAL URBAN ❑ T5 URBAN CENTER ❑ T6-8 URBAN CENTER ❑ T6-12 URBAN CORE ❑ T6-24 URBAN GORE ❑ T6-36 URBAN CORE ❑ T6-48 URBAN CORE ❑ T6-60 URBAN CORE ❑■ T6-80 URBAN CORE ❑ D1 WORK PLAGE ❑ D2INDUSTRIAL savilis Future Land Use Map savills.us 6 Low Density Multifamily Residential Medium Density Multifamily Residential High Density Multifamily Residential Low Density Restricted Commercial Medium Density Restricted Commercial Restricted Commercial Central Business District General Commercial Major Institutional, Public Facilities, Transportation and Utilities Savilis Flood Zone Map savins.us ti 91 SE 12TH TER, 1, 33131 7 FEMA Flood Zones FErAFkoodZone A ■ AE ■ AH D ■ VE x ▪ X (SHADED) savills Land Sale Comps Name Address Parcel Size Zoning Future Land Use Proposed Use Sale Type Sale Date Sale Price Land Price / SF Subject Property 1) 250 SW 11 th St 2) 2246 NE 2"d Ave 190 SE 12th Ter Miami, FL 250 SW 11th St Miami, FL 246 NE 2nd Ave Miami, FL 6,000+/- SF (4,500+/- SF Developable) T6-48A-O Restricted Commercial 7,500+/- SF T6-24A-0 Restricted Commercial 6,643+/- SF T6-12-0 Restricted Commercial Developmental Rights: 48,000 SF & 51 Units Demolished — Redevelopment Redevelopment Investment June 2018 $2,250,000 $300.00 Investment April 2020 $1,750,000 $263.44 3) 900 NW 2"d Ave 900 NW 2"d Ave Miami, FL 9,278+/- SF T6-8-0 Restricted Commercial Mixed Use Development Investment March 2020 $2,700,000 $291.01 SaviliS Location Map - Land Comps COMP ADDRESS ACRES (+1-j LAND (5F) ZONING PROSPOSED USE SALE DATE SALE PRICE - PRICE 1 SF - Subject 190 SE 12th Ter, Miami, FL 0.10 4.500 T6-48A-O Dev. Right Transfer - 250 SW 11th St, Miami, FL 0.17 7,500 T5-24A-O Redevelopment Jun-16 $2,250,000 $300 2 2246 NE 2nd Ave. Miami, FL 0.15 6643 T6-12-0 Redevelopment Apr-20 $1,750,000 $253 3 900 NV'V 2nd Ave, Miami, FL 0.21 9,278 T6-8-0 Mixed -Use Mar-20 $2,700,000 $291 9 SavIIIS Adjustment Summary Land Value SITE ATTRIBUTE COMPARISONS COMP 1 ADJUST COMP 2 ADJUST COMP 3 ADJUST LOCATION Similar 0% Inferior 10% Inferior 5% PARCEL SIZE 1 SHAPE Superior -5% Superior -5% Superior -5% ZONING 1 DENSITY Inferior 5% Inferior 10% Inferior 15% ACCESS I VISIBILITY Similar 0% Similar 0% Similar 0% TRAFFIC TRIPS Similar 0% Similar 0% Similar 0% CORNER LOT Similar 0% Similar 0% Similar 0° a TERRAIN 1TOPOGRAPHY Similar 0EYo Similar 0% Similar 0% SALE PRICE CONDITION Superior -10% Superior -10% Superior -10% SALE DATE Inferior 10% Similar 0% Similar 0'a COVID-19 Superior -5% Superior -5% Superior -5% TOTAL ADJUSTMENT -5% 0% 0% COMP ADDRESS ACRES {+f-) LAND (SF) ZONING SALE DATE SALE PRICE PRICE I SF ADJUST % ADJUSTIPRICE ADJUST/SF 1 2 3 250 SW 11€h St, Miami, FL 2246 NE 2nd Ave, Miami FL 900 NW 2nd Ave. Miami. FL 0.17 0.15 0.21 7,500 6,643 9.276 T6-24A-O T6-12-0 T6-6-© Jun-18 Apr-20 Mar-20 $2,250,000 $1,750,000 $2.700.000 530C, 5263 525 -5% 0% S2,137,500 S1,750,000 S2,700,000 5285 5263 5291 The subject property is a vacant parcel located on the corner of Brickell Bay Drive and SE 12th Terrace in downtown Miami (Brickell Submarket). The irregular -shaped parcel is approximately 4,500 square feet and has a T6-48A-O zoning designation. The mere size, irregular configuration and increased set backs leaves the subject property with a developable area of approximately 350 square feet, which leaves significant constraints for future development. However, based on an analysis from the city of Miami's Planning Department, the subject property comes with the transferable development rights of 48,000 square feet and 51 transferable density units to eligible sites within the city. Three comparable land sales were uncovered, all of which have similar site attributes and development density, and showed sale prices ranging from $263 to $300 per square foot. After making adjustments to each comparable property for factors such as location, parcel size/shape, zoning/density, access/visibility, traffic trips, corner site, terrain/topography, condition of sale, sale date, and COVID-19 the adjusted- savills Broker Opinion of Value - Conclusion sale prices ranged from $263 to $291 per square foot. The affect of COVID-19 on real estate values is still unknown, however we added a COVID-19 line item with a conservative -5% reduction across all the comparable properties. This number could change over the next 6-12 months as we see the affect of COVID-19 on commercial real estate values. LAND VALUE RANGE Based on the adjusted range of values above, Savills estimates the market value range of the 4,500+/- square foot parcel located at the 190 SE 12th Ter, Miami, Florida to be valued between $263 - $291 per square foot: $1,183,500 - $1,309,500. GROUND LEASE VALUE RANGE Ground leases are typically long term (50-99 years), and greater than the useful life of the improvement. The ground lease rate is based on an agreed upon value of the land, rate of return (typically between 6%-12%), and rent escalations (either 2% annually or 10%-12% every 5 years). Due to the development restraints of the subject property, Savills recommends the rate of return to be on the lower end at 6%. Based on the Land Value Range above see below for the Ground Lease Value Range: Low End = $1,183,500 @ 6% Return = $71,010 ($5,918 / month) High End = $1,309,500 @ 6% Return = $78,570 ($6,548 / month) HIGHEST AND BEST USE The Highest and Best Use of the property would be to keep the lot vacant and sell the developmental rights of the property. savilis Disclaimer BROKER OPINION OF VALUE DISCLAIMER: THIS IS NOT AN APPRAISAL This Real Estate Broker's Opinion of Value represents only the opinion of Savills to the value of the Subject Property, subject to the assumptions and qualifications set forth herein. Savills is not licensed to perform real property appraisals. Accordingly, this Real Estate Broker's Opinion of Value does not constitute an appraisal of the Subject Property and has not been prepared in accordance with the Uniform Standards of Professional Appraisal Practice. Savills (i) is entitled to rely on the sufficiency, accuracy and completion of all information provided by the Client, and shall not be required to supplement, validate or verify the same, (ii) is entitled to assume that the Subject Property is in good and sufficient condition and will not assess or consider the physical condition of the Subject Property or any of its systems or equipment, and (iii) did not assess any title, survey, legal, engineering, environmental or similar matters or conditions. In performing and preparing the Real Estate Broker's Opinion of Value, Savills has relied on its knowledge of comparable transactions but it is specifically acknowledged that such transactions are private and Savills's knowledge thereof may be inaccurate or incomplete, and that Savills is not warranting the accuracy or completeness thereof, or of conclusions based thereon. The Real Estate Broker's Opinion of Value set forth herein is specifically qualified by, and based solely upon, the relevant facts, circumstances, and market conditions that exist as of the date of this Real Estate Broker's Opinion of Value, and we undertake no obligation to update, modify, or supplement this Real Estate Broker's Opinion of Value to the extent that such facts, circumstances, or market conditions subsequently change. savrIls.us 12 Savills 3.09 5 TO 50404 trAkt rNq 7 °,303.7 Ft 4.44 'R 3 OEpR€ss 425 Undedicated Right -of -Way (red colored) to be dedicated if City pulls a permit for redevelopment. In addition to that area, also the area outside the round corner of a 25 foot radius arc, tangent to the base building lines. The requirement or criteria for r/w dedication is under City Code Section 54-58. PROPERTY NAME 190 SE 12th TERRACE, MIAMI, FLORIDA PROPERTY DESCRIPTION The subject parcel is approximately 6,000 SF and contains a 1,457 SF building which has a historical designation. The historic designation renders it eligible to transfer all unused development capacity and density to other eligible sites in the City. It is an irregularly shaped lot located in the Brickell Submarket on the SW corner of Brickell Bay Drive and SE 12th Terrace. It is zoned T6-48A-O, which means the zoning designation allows for 48 stories by right and 80 stories through public benefit contributions. The density available on the site is 500 units per acre; however, the size and irregular shape of the lot basically render the lot undevelopable. There are approximately 48,000 SF of transferable development rights and 51 transferable density units available on this site. PROPERTY OVERVIEW SU BMARKET SIZE 192 BUILT BRICKED BAY LOCATION OCCUPANCY FLOORS 2/1,000 SITE ACREAGE PARKING RATIO STRENGTHS • Located in the Brickell Submarket; one block from Biscayne Bay • Zoned T6-48a-O, Urban Core Zone W EAKNESSES • The lot is an irregular shape • The property has a historic designation • Located within an 'established setback zone,' which would require a 25 ft setback • Based on the setback requirements, if developed, there would be no parking • The property is considered undevelopable OPPORTUNITIES • The zoning allows for 48 stories by right and 80 stories by public benefit contribution • Its historic designation allows for the transfer all unused development capacity and density to other eligible sites citywide. CBRE LAND SALES COMPARABLES �ZOZ'9la' oPO an oA!,ouoiuldoas oas a61119 oa.• ADDRESS SF SALES PRICE PRICE/SF SALE DATE COMMENTS The White Building 201-203 E. Flagler Street Miami, 33132 151 NE 1" Street Miami, 33131 CitizenM Brickell 15 SE 10th Street, Miami, 33131 1428 Brickell Avenue Miami, 33131 14,000 $12,900,000 15,000 $9,270,000 10.956 $16,180,000 $921.43 2/13/2019 $618.00 11/13/2017 T6-80-0 (Urban Core) Zone Site previously had a 99-year ground lease of a flat annual rent of $35,000. Site has a 2-story 25,556 SF building T6-80-0 (Urban Core Transed) Site was used as a surface parking lot; the parking lot operator paid $162,000/year to lease the site. The lease expired 7/31/18. T6-48b-O (Urban Core) Zone $1,476.82 9/28/2017 Located in Brickell Submarket Former Perricone's Restaurant 49,983 $26,500,000 $705.04 1/20/2017 T6-48a-O (Urban Core) Zone Same zoning as the subject properly Located in Brickell Submarket 10-story office building FINANCIALSUMMARY HIGH PRICE* $6,206,580 PRICE PSF TARGET PRICE* S5,581,920 LOW PRICE* $3,493,923 $1,034.43 PRICE PSF $930.32 PRICE PSF $582.32 *Please see attached spreadsheet for calculations LAND LEASE COMPA RA BLES Comparable land leases for a site of this type, in this location and with the density the site has does not exist in south Florida. CLARISSA V. WILLIS Senior Associate +1 305 381 6435 Lic. SL3148771 Clarissa.willis(aa7cbre.com CBRE ©2020A1 RgNs Ibsemd. AM informdim incbded in Ins papovl retaining b CBRE—bdLdog bd not kited b tso{emtbns, enpbyes, bdeobgyand ckds—e pepoay and odd lbl, and ae vppbd wih be urdesbndug Itot Ileywill l held in cmltce and nddscbed b Ihid pateswdhod the pro wrtbn crosent d CBE. This bte/pop)sal 6mleneed mlehy as a pelmimryexpesson d gmealinbdbns nrd 6 to beuvdfadiscussmpupovsmly.Tlepoles ridlholmdlershalhatmyonhadmlobligatbnstothealerwihrepedtolleaottesrdeedheeinmbssardmtiladiinBieageenenthoshmnfuhyexembd and dekseed bytle pates Tle patesagee tid th6btte/pcposal is rot interdet toceab anyageenertor cblgati nbyeitherpafytorewIoe a diinitie bav/pachav and vle agmnmi and impoesnoduty whatvee on ethe patyto online negdbtms, indudngg without limitation anyobfgdbn b negdble o good firth a in mywayotha thm at am'slength Pro b deberyol a ddintre exeded ageenmt and wthod anyfabirdy b the other parry eilhe pat/ nuy (1) Repose dilbert bm6temthosesunrmeel heed, (2) mo eto mpTetbr6wdh phi plies anryor(3) unilabolfy baninab all negdotionswlh the dler p riyhereta CBRE City Commission Marked Agenda October 8, 2020 PH.4 RESOLUTION 7611 Department of Real Estate and Asset Management A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), BY A FOUR -FIFTHS (4/STHS) AFFIRMATIVE VOTE, AFTER AN ADVERTISED PUBLIC HEARING, RATIFYING, CONFIRMING, AND APPROVING THE CITY MANAGER'S RECOMMENDATION AND WRITTEN FINDING, ATTACHED AND INCORPORATED AS EXHIBIT "A," PURSUANT TO SECTION 29- B(C) OF THE CHARTER OF THE CITY OF MIAMI, FLORIDA, AS AMENDED ("CITY CHARTER"); WAIVING THE REQUIREMENTS FOR COMPETITIVE SEALED BIDDING PURSUANT TO SECTION 18-85(A) OF THE CODE OF THE CITY OF MIAMI, FLORIDA, AS AMENDED, BASED UPON RESOLUTION NOS. R-16-0347 AND R- 16-0348 ADOPTED JULY 29, 2016 AND SUBSEQUENT SPECIAL ELECTION RESULTS OF TUESDAY, NOVEMBER 8, 2016 WHICH AUTHORIZED THE RELATED AMENDMENT OF THE CITY CHARTER AS CERTIFIED BY RESOLUTION NO. R-16-0618 ADOPTED DECEMBER 8, 2016 (COLLECTIVELY, "APPROVALS"), AS NOT BEING PRACTICABLE OR ADVANTAGEOUS TO THE CITY OF MIAMI ("CITY"); AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A LEASE AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, BETWEEN THE CITY AND DADE HERITAGE TRUST, INC., A NOT -FOR -PROFIT CORPORATION ORGANIZED UNDER STATE OF FLORIDA LAWS, FOR THE CITY -OWNED BUILDING LOCATED AT 190 SOUTHEAST 12TH TERRACE, MIAMI, FLORIDA 33131 FOR A TERM OF THIRTY (30) YEARS WITH TWO (2) THIRTY (30) YEAR RENEWALS, FOR MINIMUM ANNUAL RENT OF SIX HUNDRED DOLLARS ($600.00) IN MONTHLY INSTALLMENTS OF FIFTY DOLLARS ($50.00), WITH CONSUMER PRICE INDEX ADJUSTMENTS, AND WITH RESTRICTIONS, REVERSIONS, AND RETENTION BY THE CITY OF ALL OTHER RIGHTS, INCLUDING BUT NOT LIMITED TO AIR RIGHTS, MINERAL RIGHTS, AND RIPARIAN RIGHTS, TO THE PROPERTY, WITH TERMS AND CONDITIONS AS MORE SPECIFICALLY TO BE SET FORTH IN SAID AGREEMENT IN ACCORDANCE WITH THE APPROVALS, AND ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY. MOTION TO: Defer RESULT: DEFERRED MOVER: Joe Carollo, Commissioner SECONDER: Alex Diaz de la Portilla, Commissioner AYES: Hardemon, Russell, Diaz de la Portilla, Carollo, Reyes Note for the Record: Item PH.4 was deferred to the January 14, 2021, City Commission Meeting. City of Miami Page 7 Printed or7 10/16/2020 ROM Estimate to Move Historic Structure (DRAFT) Building Location at 190 SE 12 Terrace, Miami, FL - Building Name: Dr. James M. Jackson Office of Surgery 01.27.21 Description Unit Quantity Unit Cost Total Cost 1 Scope by Structural Moving Company LS 1 $290,000.00 $290,000.00 Building prep for structure lifting including structural scope Building lifting and transportation to barge Building lifting and transportation to new site Building protection during transportation Building placement at designated location Police Escorts 2 Scope by the City I. Building and Site Prep for Structure Moving Temporarily Remove and Replant Trees EA 14 $2,500.00 $35,000.00 Remove and install traffic signs EA 5 $500.00 $2,500.00 Remove and preserve Heritage Trust Sign LS 1 $500.00 $500.00 Remove/Reinstall Light Post EA 1 $1,500.00 $1,500.00 Allowance for Maintenance of Traffic LS 1 $5,000.00 $5,000.00 Disconnect and cap water, sewer and power LS 1 $25,000.00 $25,000.00 Site restoration after building is removed (Sodding) SF 6000 $5.00 $30,000.00 Allowance for obstacles clearance for moving operation LS 1 $30,000.00 $30,000.00 Fence and Secure Site LS 1 $10,000.00 $10,000.00 II. Site Prep for New Location Allowance for clearance and demo at new site LS 1 $5,000.00 $5,000.00 Site Prep SF 4000 $10.00 $40,000.00 Building foundations SF 1457 $25.00 $36,425.00 Build access ramp ADA compliant LS 1 $5,000.00 $5,000.00 Building utility connections at new site LS 1 $40,000.00 $40,000.00 Building minor repairs post relocation LS 1 $25,000.00 $25,000.00 Placement of dedication plaque and historic site sign LS 1 $15,000.00 $15,000.00 Landscaping allowance LS 1 $50,000.00 $50,000.00 External lighting allowance LS 1 $20,000.00 $20,000.00 CCTV and WIFI allowance LS 1 $10,000.00 $10,000.00 Subtotal $675,925.00 Contingency 20% $135,185.00 Subtotal Construction Cost $811,110.00 Permits allowance 3% $24,333.30 Design allowance - New Site (Foundations, utilities, Site Access and Landscaping) 5% $40,555.50 OCI PM/CM 8% $64,888.80 Total Project Cost (Rounded) $940,900 Estimate Assumptions and Qualifications: a. Estimate was prepared to establish ROM estimate. b. Estimate will vary and will need to be revisited after additional information is provided, such us, final location of building structure c. Moving Structure work estimate by Flint and Doyle - 01.18.21 d. Estimate assumes that old site will be restored to ground level, sodded and fenced. e. Estimate assumes that trees at old site will be temporarily removed and replanted at the same location f. Estimate assumes that utilities at old site will be capped. g. Estimate assumes that traffic signs and on -street electrical utility at old site will be temporarily removed and reinstalled at same location h. Estimate assumes a new site with a lot size of 4,000 SF i. Estimate provides allowances for landscaping and lighting for new site j. Estimate includes a 20% contingency k. Estimate includes design consultant and OCI markups for Project Manager/Construction Manager I. Estimate excludes site acquisition and enviromental remediation (if required).