HomeMy WebLinkAboutExhibit BCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
TO: Arthur Noriega V
City Manager
,—DoccuuSigned by:
FROM: Alfredo Duran a Vur
Assistant Dire" U 03982D2DDB1 °°...
BACKGROUND
DATE: September 26, 2024
SUBJECT District 1 MFE Allocation of
$1,000,000 to The Allapattah Collaborative CDC
The City of Miami ("City") created the Miami For Everyone ("MFE") Program to assist communities facing
the long-term complications resulting from declared emergencies and to address the specific needs of the
most vulnerable residents and businesses, through a strategy of focusing the provision of support towards
priority areas of need that will further stabilize economic conditions within City Districts.
In late July 2024, the Allapattah Collaborative CDC submitted a Miami For Everyone Grant application
requesting funds for the proposed acquisition of the commercial property located at 1700 NW 36th Street
(Folio 01-3127-009-0100), with the goal of rehabilitating the current structure for a mixed -use purpose
("Project"). The goal of the rehabilitation is to 1.) preserve ten (10) resident small businesses central to the
Little Santo Domingo Historic Neighborhood located on the first floor of the structure, and 2.) the
development of fourteen (14) City -assisted affordable housing units on the second floor of the structure.
The Allapattah Collaborative CDC seeks to prevent the immediate displacement of ten (10) small business
located at the property site and create a minimum of fourteen (14) affordable rental units which are projected
to be set aside for a mix of households earning between (50%) area median income ("AMI") and up to
(120%) AMI, as published annually by the United States Department of Housing and Urban Development
and Florida Housing Finance Corporation.
THE ALLAPATTAH COLLABORATIVE COMMUNITY DEVELOPMENT CORPORATION
The Allapattah Collaborative Community Development Corporation ("The Allapattah Collaborative CDC,"
or "ACDC"), has been working diligently since 2019 to build an Allapattah economy that works for everyone
including the small businesses, entrepreneurs, and residents of Allapattah while preserving the
neighborhood's unique cultural heritage (Sunbiz.org, attached as Exhibit "A").
The Allapattah Collaborative CDC submitted a grant application to Office of Management and Budget,
attached as Exhibit "B," to the City of Miami ("City") for MFE Program Funds in order to complete the
proposed project (See Exhibit "B" attached).
The Allapattah Collaborative CDC has requested MFE funds in the amount of One Million Dollars
($1,000,000) in the form of a deferred loan. The funds will be utilized to fund in part the acquisition of the
subject property located at 1700 NW 36th ST, which ACDC will then further re -develop as a mixed -use
project that will contain no less than fourteen (14) City -assisted residential rental units on the second floor.
The development will house a minimum of fourteen (14) household units which are projected to be set aside
for a mix of households earning between (50%) AMI and up to (120%) AMI.
HOUSING AND LOAN COMMITTEE REVIEW STATUS
As of today's date, the City's Housing and Commercial Loan Committee ("HCLC") has not yet reviewed a
completed proposal for the Project in order for the Project to receive a deferred loan of MFE funds and,
therefore, any City Commission approval is subject to the approval of the Project by HCLC and the
Developer fulfilling, in a timely manner, any and all terms, requirements, and conditions set forth in the
HCLC Approval.
RECOMMENDATION
The City's District 1 Commissioner ("Commissioner") has reviewed the MFE Application attached and
wishes to provide grant funds from the Commissioner's share of MFE funding in an amount not to exceed
One Million Dollars ($1,000,000) in the form of a deferred loan to The Allapattah Collaborative Community
Development Corporation. The terms of the loan should be in conformance with the terms of HCLC
Approval.
In light of the above stated, approval of a waiver of the formal requirements of competatitve sealed bidding
methods as not being practicable or advantageous to the City as set forth in the City Code of Ordinances,
as amended, specifically Section 18-85 (A), and the affirmation of these written findings and the forwarding
of the same to the City Commission for ratification by a fourth -fifths vote is respectfully requested.
APPROVED / DISAPPROVED
-DocuSigned by:
ItnL r Nolncla
850CF6C372DD42A...
Arthur Noriega V
City Manager
DIVISION OF CORPORATIONS
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rut official Slaty of Florida web3ite
Department of State / Division of Corporations / Search Records / Search by Entity Name /
Detail by Entity Name
Florida Not For Profit Corporation
THE ALLAPATTAH COLLABORATIVE COMMUNITY DEVELOPMENT CORPORATION
Filing Information
Document Number N19000007227
FEI/EIN Number 84-2792176
Date Filed 07/02/2019
State FL
Status ACTIVE
Principal Address
1951 NW 7TH AVE
Suite 600
MIAMI, FL 33136
Changed: 05/12/2020
Mailing Address
1951 NW 7th Avenue Suite 600
Miami, FL 33136
Changed: 03/04/2021
gistered Agent Name & Address
Mileyka, Burgos -Flores
1951 NW 7th Avenue Suite 600
Miami, FL 33136
Name Changed: 03/04/2021
Address Changed: 03/04/2021
Officer/Director Detail
Name & Address
Title Director, Chairman
Cruz, Angela
1951 NW 7TH AVE
Suite 600
MIAMI, FL 33136
Title Director, Treasurer
MORI, AHMED
1951 NW 7TH AVE, STE 600
MIAMI, FL 33136
Title Director
DABNEY, CHARLES
1951 NW 7th Avenue Suite 600
Miami, FL 33136
Title CEO
Burgos -Flores, Mileyka
1951 NW 7th Avenue Suite 600
Miami, FL 33136
Title Director
Lunicel, Alvarado
1951 NW 7TH AVE
Suite 600
MIAMI, FL 33136
Title Director
Jimenez, Ivan
1951 NW 7TH AVE
Suite 600
MIAMI, FL 33136
Title Secretary, Director
Felipe, Johanna
1951 NW 7TH AVE
Suite 600
MIAMI, FL 33136
Annual Reports
Report Year Filed Date
2022 01/21/2022
2023 01/30/2023
2024 02/20/2024
Document Images
02/20/2024 --ANNUAL REPORT View image in PDF format
01/30/2023 --ANNUAL REPORT View image in PDF format
01/21/2022 --ANNUAL REPORT View image in PDF format
03/04/2021 --ANNUAL REPORT View image in PDF format
05/12/2020 --ANNUAL REPORT View image in PDF format
07/02/2019 -- Domestic Non -Profit View image in PDF format
Florida Department of State, Division of Corporations
City of Miami
Miami For Everyone
Program Guidelines
Background:
On April 13th 2023, the Miami City Commission approved Resolution No. R-23-0178 establishing the
Miami For Everyone ("MFE") program. The following Miami For Everyone guidelines were adopted in
said Resolution R-23-0178, to ensure the accountability and utilization of the program funds meets the
intent of the MFE Program. Funding for the MFE Program will be allocated by the City Commission.
Purpose:
The purpose of the Miami For Everyone program is to assist communities facing the long-term
complications resulting from declared emergencies and to address the specific needs of the most
vulnerable residents and businesses, through a strategy of focusing the provision of support towards
priority areas of need that will further stabilize economic conditions within City District(s). The City of
Miami created the Miami For Everyone program to address the needs of the most vulnerable residents
who continue to experience hardships due to a declared emergency (pandemic, natural disaster, etc.).
Miami For Everyone focuses on projects and programs providing services directly benefitting City of
Miami residents in the following priority areas:
• Affordable Housing'
• Educational Programs for children, youth and adults
• Elderly meals, direct financial assistance, transportation, recreational and health/wellness related
activities
• Direct financial assistance, food assistance (gift card programs, voucher programs)
• At -risk youth or youth summer job programs
• Transportation services and programs
• Job development, retention and training programs
• Homeless Services
• Food Distribution programs
• Necessary climate and resiliency improvements in compliance with program purpose and
guidelines
• Essential supplies, during a State of Emergency, natural disaster, or economic
crisis.
• Necessary infrastructure improvements in compliance with program purpose and guidelines
The expenditure of Miami For Everyone funds allocated under this Initiative shall only be expended to
benefit the interest of disadvantaged residents of the City of Miami.
Eligible Entities and Organizations:
Miami For Everyone fund recipients must be an active and registered State of Florida entity:
1 All Affordable Housing projects shall be managed by the City of Miami's Department of Housing and Community Development
("HCD") and subject to compliance with HCD's applicable rules, guidelines, processes, and procedures, including but not limited
to, relevant funding agreements.
City of Miami
Miami For Everyone
Program Guidelines
(1) For Profit2; (2) Not -for profit organizations {501(3)(c)}; (3) Governmental units; (4) Educational
and academic institutions; (5) City of Miami departments, Offices of City Elected Officials, agencies,
or boards.
Additional Program Guidelines and Requirements
• Any organization considered for or selected to receive Miami For Everyone funds must comply
with any and all local, state and federal laws, rules, regulations, or guidelines associated with the
programs funded, and such allocations may be revoked at the sole discretion of the City
Commission.
• Organization must complete a Miami For Everyone funding request form.
• MFE programs are subject to funding availability.
• MFE fund recipients will use funds for a program or initiative that reaches a significant number of
individuals and/or significantly mitigates the impacts of a declared emergency.
• Recipients will be required to enter into a grant agreement with the City of Miami prior to any
funding being disbursed. Said agreement shall include program/activity information and
language regarding:
o Resolution stating who is authorized to execute agreement with City of Miami
o Scope of Services including but not limited to number of residents being served, City of
Miami District/Location where services are being provided, program focus/priority area,
frequency of service, performance measures and any other performance metric deemed
relevant to the program priority area
o Budget detailing how funding will be utilized to provided services to City/District residents
as described in the Scope of Services
o Invoicing for activities and services provided and residents assisted or served
o Conflict of Interest
o Insurance as required by the City of Miami, which said requirements may be amended by
the City's Department of Risk Management ("Risk") and approved by Risk, which may be
withheld in the City's sole discretion.
o Any other material terms deem applicable to ensure appropriate use of public funds
• If an agreement is not executed in six (6) months from the date of Commission approval, the
recipient will be recommended for de -obligation.
• Unless otherwise approved or extended by City Commission, the agreement term will end a year
following contract execution.
• Recipients will be required to complete an end of program close-out report certifying the services
provided, performance metrics, location of services, timeline for the provision of MFE related
services and a narrative of the overall accomplishments of the program. The City, from time to
time, may conduct on -site monitoring and/or audits of the MFE funded program/activity/service.
• Funds cannot be used to pay expenditures such as:
o Lobbying Activities
o Traveling for non -program participants
o Meals for non -program participants
o Pay bad debt
2 Only eligible to be awarded funding for affordable housing projects.
City of Miami
Miami For Everyone
Program Guidelines
o Defense and prosecution of criminal and civil proceedings
o Donations or fund raising activities
o Individual or Personal expenses
o Pay same expense charged to other funding source (e.g. CDBG funds)
o Sponsorship of events and activities
o Any other expenditures deemed ineligible by the City of Miami
Organizations that discriminate based on race, color, sex, religion, national origin, age or disability
will not be recommended for funding. Administrative/Indirect expenses cannot exceed 10% of
the budget allocation.
• These guidelines are further subject to compliance with all requirements that may be imposed
by the City Attorney, including but not limited to, those prescribed by applicable City Charter and
City Code provisions.
• The attached Funding Request Form (pages 1-6) must be completed in its entirety by the applicant. The
completed form must besubmitted to the Office of Management and Budget before the entity may
added to the Commission Agenda for approval.
(March 28, 2023)
City of Miami
Miami For Everyone
Program Funding Request Form
CONTACT INFORMATION:
Contact Person: Mileyka Burgos -Flores
Title: Cheif Executive Officer
Phone number: 786-220-4590
Email Address: mileyka@allapattahcdc.org
Name of Person completing this form: Mileyka Burgos- Flores
Legal Name of Organization: The Allapattah Collaborative CDC
Address (Street, City, State, Zip Code):
1951 NW 7 Avenue Suite 600
Miami, FL 33136
Executive Director of Organization: Mileyka Burgos- Flores
Executive Director email: mileyka@allapattahcdc.Org
Executive Director Contact Phone Number: 786-220-4590
The organization is a registered and active State of Florida Corporation (select one):
EI
•
EI
EI
EI
o
For -profit organization
Not -for profit organization {501(3)(c)}
Local governmental unit
State governmental unit
Educational and academic institution
City of Miami department, office of elected official, agency or board
Page 1 of 6
Return this form to: gbrito@miamigov.com
(March 28, 2023)
City of Miami
Miami For Everyone
Program Funding Request Form
ORGANIZATION AND PROGRAM/PROJECT INFORMATION
Organization History and Background Information:
Allapattah Cooperative CDC has been working diligently since 2019 to
build an Allapattah economy that works for everyone including the small busineseses,
entreprenuers and residents of Allapattah while preserving the
the neighborhoods unique cultural heritage.
Is your program/project providing direct services to residents of the City of Miami? Yes ❑No ❑
Thousands
Number of residents your entity will serve:
Frequency of Service:
Age Group Served:
Daily
All ages
Is your program/project related to a declared emergency in the City of Miami? Yes❑■ No❑
Name of Declared Emergency: Housing Affordabilty
Date of Official Declaration: April 8, 2022
Is your program/project impacting one of Miami's afflicted communities? Yes ❑■ No❑
Geographic Area Served (specific to this project/program)
District Served (1, 2, 3, 4, 5, Citywide) District 1
Neighborhood/Community being served: Allapattah
Program/Project Priority area (Select one):
El
•
Affordable Housing
Educational Programs for children, youth, and adults
Elderly meals, direct financial assistance, transportation, recreational and
health/wellness related activities
Direct financial assistance, food assistance (gift card programs, voucher programs)
At -risk youth or youth summer job programs
Page 2 of 6
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(March 28, 2023)
City of Miami
Miami For Everyone
Program Funding Request Form
InT• ransportation services and programs
InJob development, retention and training programs
nH• omeless Services
nF• ood Distribution programs
InC• limate Resiliency Improvements
InE• ssential supplies, during a State of Emergency, natural disaster, or economic crisis
nAllowable Infrastructure Improvement per program purpose and guidelines
Page 3 of 6
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(March 28, 2023)
City of Miami
Miami For Everyone Program
Funding Request Form
Program/Project Title: Acquisition of 1700 NW 36 Street
Project/Program Description: Acquisition and Rehabilitation of
Folio number 01-3127-009-0100, to ensure the preservation of the 10
small businesses central to the Little Santo Domingo Historic Nighborhood
and the rehabiltation of the 14 Affordable Housing Units on the second floor.
Program Start Date: October 2024 Program End Date: January 2026
Please describe how this program/project and funding will assist the community overcome the
adverse effects of the declared emergency:
This acquisition will prevent the immedaite displacemen of 10 small businesses crucial to
Historic Little Santo Domingo Commercial Cooridor and create 14 Affordable Housing Units for residents.
IMPACT AND PERFORMANCE:
Describe overall expected outcomes and performance measures for this project/program:
10 Small/Micro Businesses will not only survive closure under this program,
but will ultimately have ownership of their storefronts and job security. In addition,
ACDC will work with the County/HUD program to establish 14 AHU in the immediate.
Please attach additional pages to the back of this packet, if the space above is not sufficient.
Page 4 of 6
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(March 28, 2023)
City of Miami
Miami For Everyone Program
Funding Request Form
FUNDING REQUEST INFORMATION:
Amount Requested: $1,000,000
Explain how the City of Miami's Miami For Everyone funding will be utilized:
Money will be used as partial funding for the acquisition of the property
located at 1700 NW 36 Street toprevent the displacement of the10 small businesses on the first floor
part of the Historically recognized Little Santo Domingo neighborhood. The
remaining $3 million needed has already been secured by ACDC (see attachments) .
None of the funds willbe used for the daily operations or the construction of the additional units on the second floor.
Itemize MFE funding related to expenditures below:
Personnel Salaries & Wages: $
Personnel Benefits $
Space Rental: $
Utilities (Electricity, Phone, Internet): $
Supplies:
Equipment
Marketing:
Transportation (Participants): $
Meals (Participants): $
Professional Services (List each): $
Construction (attach schedule of costs): $
Other (please describe): Acquisition $1,000,000
Other (please describe):
Other (please describe):
Page 5 of 6
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(March 28, 2023)
City of Miami
Miami For Everyone Program
Funding Request Form
To be completed by the Entity/Recipient
By signing below you agree to the guidelines and stipulate that the information provided on this form is
accurate and complete.
Completed by (Print & Sign): Mileyka Burgos -Flores
Date: July 22, 2024
Additional Comments:
To be completed by District Commissioner/Mayor's Office
Recommended for funding: Yes ❑ No❑
$1,000,000.00
Funding Recommendation:
frank Castaneda
Commission Meeting Date:
Additional Comments:
Subject to HCLC Approval.
Signed by:
Completed by (Print & Sign): l aSfalnc �pdnt
6AD4C1...
8CB5D5CDAF764FB...
September 17, 2024 1 08:57:36 EDT
Date:
To be completed by the Department
DocuSigned by:
Received by (Print & Sign): f'`
'�— 5F6E831796C5495...
Date:
September 18, 2024 1 14:08:16 EDT
Additional Comments:
Page 6 of 6
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(March 28, 2023)
DocuSign Envelope ID: 06CE2063-2C16-4265-BAF2-DB98B17E8C9D
April 17th, 2023
The Allapattah Collaborative Community Development Corporation
1951 NW 7th Avenue, Suite 600
Miami, FL 33136
Re: $500,000 Collective Real Estate Ownership (CEO) Recipient — Commitment Letter
Dear Mileyka:
The Miami Foundation, a Florida 501(c)(3) non-profit organization with a 509(a)(1) determination
(the "Foundation"), is pleased to select The Allapattah Collaborative Community Development
Corporation, a Florida not -for -profit corporation ('The Allapattah Collaborative, CDC"), or a
newly created LLC whose sole members will be The Allapattah Collaborative, CDC or The
Allapattah Collaborative, CDC's wholly owned subsidiaries (the "Borrower"), as recipients of a
Five Hundred Thousand and No/100 ($500,000) (the "Funds") loan pursuant to the Collective Real
Estate Ownership (CREO) portion of the Miami Open of Business Program (the "Loan"), upon
and subject to the terms and conditions set forth in this letter (this "Commitment Letter") and in
the Summary of Terms and Conditions attached as Exhibit A hereto and incorporated herein by this
reference (the "Summary of Terms").
The purpose of the Loan is to provide acquisition financing to the Borrower to assist with the
purchase of commercial property located in Miami -Dade County (the "Property") that will be
owned and occupied by The Allapattah Collaborative, CDC (the `'Project"). The Funds may be
used towards the purchase price and/or for select, realty, mortgage, and closing fees incurred at
closing; however, Borrower shall be expected to pay all other transaction costs incurred prior to
closing, including but not limited to inspection and appraisal fees, mortgage application fees, as
well as the earnest money deposit. Additionally, the Foundation is aware Borrower will need
additional sources of funds to assist with acquisition of the Property. As such, the Foundation agrees
to be a subordinate lienholder behind any senior financing that Borrower deems necessary.
This commitment of the Foundation is subject to the satisfaction of each of the following conditions
precedent in a manner acceptable to the Foundation: (a) the accuracy and completeness of all
representations that Borrower and its affiliates make to the Foundation and Borrower's compliance
with the terms of this Commitment Letter (including the Summary of Terms); (b) the absence of
any material adverse conditions in the financial, banking or capital markets generally, in the
judgment of the Foundation; (c) no change, occurrence or development shall have occurred or
become known to the Foundation since the issuance of this letter that has had or could reasonably
be expected to have a Material Adverse Effect (as defined in the Summary of Terms); (d) the
Foundation and Borrower entering into a loan agreement, promissory note, subordinate or
secondary mortgage, and restrictive covenant and the initial grant applicant entering into a
Guarantor Agreement (the "Loan Documents") consistent with the Summary of Terms and
otherwise satisfactory to the Foundation where the mortgage and restrictive covenant are to be
recorded upon closing on the acquisition of the Property; and (e) in addition to the Loan Documents,
the following documents and items must be submitted to the Foundation:
4868-7620-1815 v.1
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(i)
title insurance: a standard ALTA mortgagee title policy, providing coverage for
the full principal amount of the Loan, listing only those title exceptions acceptable
to the Foundation, in its sole discretion;
(ii) survey: performed within 60 days of closing of the Property by a registered
surveyor, certified, at a minimum, to the Foundation, Nelson, Mullins, Riley, and
Scarborough, LLP, the title insurance company, and Borrower;
(iii) insurance: including (a) certificate of builder's risk insurance on ACORD 28 form;
(b) comprehensive general liability insurance on ACORD 25 for Borrower
(commercial general liability, excess/umbrella liability, auto liability, worker's
comp and employers' liability); (c) contractor's commercial general liability and
excess/umbrella liability, auto liability, and worker's comp coverage for the
general contractor (ACORD 25 certificate); and (d) flood insurance if the project
is located in a Flood Hazard Area and windstorm insurance if project is located
in a Windstorm Zone. Certificates should designate the Foundation as mortgagee
and loss payee granting the Foundation at least 30 days' notice of intended
cancellation;
(iv) appraisal: current, within 60 days of the closing, self-contained appraisal of the
Property, as if the Project is stabilized and with market financing. Borrower and
Guarantor acknowledge that the Foundation was induced to make the Loan based
upon an initial combined loan -to -value (LTV) ratio of no more than 80%;
(v) Environmental Site Assessment and Environmental Compliance and Indemnity
Agreement: a current Phase I Environmental Site Assessment (ESA) of the
Property performed in accordance with the ASTM 1527-13. The ESA shall be
satisfactory in all respects to the Foundation, certified to the Foundation, and
performed by a Florida licensed geologist or engineer. This Commitment will be
null and void if the Foundation's environmental counsel's review of the ESA or
additional reports indicates any environmental concerns as determined by the
Foundation or its environmental counsel. An agreement shall be signed by
Borrower indemnifying the Foundation from any environmental hazards;
(vi) Purchase and Sale Agreement: copy of the executed purchase and sale agreement
and all amendments thereto for the acquisition of the Property; and
(vii) Other Funding Sources' Agreements: copies of funding agreements with other
parties providing funding to the Project. This shall also include any firm
commitment letters or other proof of funds from primary lenders.
The Loan, less closing costs, shall be proportionately forgiven each year over the course of five (5)
years, if certain conditions are met, including adherence to a forgiveness schedule to be provided
to Borrower when the Loan Documents are presented to Borrower for review, protective provisions
against reselling the property within five (5) years, ensuring a minimum number of businesses are
associated with the tenants, and executing and maintaining a shared equity or collective ownership
model. Such terms shall be further detailed in the Loan Documents. Borrower shall be expected
and prepared to provide regular reporting and progress updates throughout and subsequent to the
transaction process. Borrower will also be asked to provide additional information about how the
asset purchase impacted their business (i.e., staff retention or growth, increase in revenue, sales, or
donations).
4868-7620-1815 v.1
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This Commitment Letter may be executed in counterparts which, taken together, shall constitute
an original. Delivery of an executed counterpart of this Commitment Letter by electronic mail,
telecopier or facsimile shall be effective as delivery of a manually executed counterpart thereof.
This Commitment Letter (including the Summary of Terms) embodies the entire agreement and
understanding among the Foundation, Borrower, and Borrower's affiliates with respect to the Loan
and supersedes all prior agreements and understandings relating to the specific matters hereof.
However, please note that the terms and conditions of the commitment of the Foundation hereunder
are not limited to those set forth herein or in the Summary of Terms. Those matters that are not
covered or made clear herein or in the Summary of Terms are subject to mutual agreement of the
parties. No party has been authorized by the Foundation to make any oral or written statements that
are inconsistent with this Commitment Letter. This Commitment Letter is not assignable by the
Borrower without our prior written consent and is intended to be solely for the benefit of the parties
hereto and the Indemnified Parties.
This Commitment Letter and all commitments and undertakings of the Foundation hereunder will
expire at 5:00 p.m. (Eastern time) on April 30th, 2023 unless you execute this Commitment Letter
and return same to the Foundation prior to that time (which may be by electronic mail or facsimile
transmission), whereupon this Commitment Letter (including the Summary of Terms) shall become
binding agreements. Thereafter, all commitments and undertakings of the Foundation hereunder
will expire six (6) months following the date this Commitment is countersigned, subject to
extension by the Foundation; unless Loan Documents are executed and delivered prior to such date.
[THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
4868-7620-1815 v.1
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We are pleased to have the opportunity to work with you in connection with this important
financing.
Very truly yours,
THE MIAMI FOUNDATION, a Florida not -
for -profit organization
oocuspnea ey:
By: cow& riS60.1A. Upst.1
Name: ei e °ca Fishman Lipsey
Title: President and CFO, The
ACCEPTED AND AGREED TO AS OF
THE DATE FIRST ABOVE WRITTEN:
THE ALLAPATTAH COLLABORATIVE
COMMUNITY DEVELOPMENT
CORPORATION, a Florida not -for -profit
corporation
By: [sane,,:
M let.. tunes
Name: MiTeyta Burgos
Title: Fxeciltive Di rector
4868-7620-1815 v.1
Miami .
Foundation
For A Greater Miami
June 12, 2024
To Whom it May Concern:
THE JORGE M. PEREZ
FAMILY FOUNDATION
The Jorge M. Perez Family Foundation, a charitable fund at The Miami Foundation, is proud
to acknowledge support of The Allapattah Collaborative CDC.
The Allapattah Collaborative CDC is a current grantee of the family foundation is funded for
the following purpose:
To support the Master Plan for the Allapattah Main Street revitalization program by
funding the expansion of the Small Business Resilience Cohorts.
This organization was chosen after a rigorous application and review process. It rose to the
top of the many applications that were received. In addition to receiving funding from the
Jorge M. Perez Family Foundation, The Allapattah Collaborative CDC will have the
opportunity to work with an external evaluator that will help us and the organization better
understand its impact on the community and the individuals it serves.
The foundation works with all of our current grantee partners to understand their additional
needs so we can work to help build their organizational and leadership capacity.
We hope you will consider leveraging our investment in The Allapattah Collaborative CDC by
supporting them with funding. We greatly appreciate your consideration.
If you have any questions, feel free to contact us at LLinzer@miamifoundation.org.
Regards,
Belissa Alvarez Lindsey Linzer
Director Vice President of Community Investments
The Jorge M. Perez Family Foundation The Miami Foundation
DocuSign Envelope ID: El F70354-523E-480B-A724-167CF19F5BOD
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40
*LE 104
NATIONAL
ASSOCIATION FOR
LATINO
COMMUNITY
ASSET
BUILDERS
LETTER OF INTENT
September 20th, 2023
The Allapattah Collaborative Community Development Corporation
1951 NW 7th Avenue Suite 600
Miami, FL 33136
Attention: Mileyka Burgos -Flores
Executive Director
Dear Mileyka,
I am writing to express our intent to provide a loan of up to $1.4 million to The Allapattah
Collaborative CDC (hereinafter, "TAC") for the acquisition of real estate for the development of mixed -
use affordable housing in the city of Miami, Florida.
NALCAB is committed to supporting the work of our members in deploying strategies that foster
equitable economic development in their communities. TAC is a valued member of our association that
is working hard towards this goal. Therefore, it is NALCAB's intention to support the project described
below by providing lending capital to help make it a reality.
Based on our preliminary review of the information provided and subject to due diligence and
compliance with NALCAB's Policies and Procedures for Lending, NALCAB is pleased to submit this
non -binding letter of intent for a transaction consisting in a loan for the acquisition of real property located
in the City if Miami, Florida, for the construction of a mixed -used development including transit -oriented
affordable housing and a business incubator focused on destination economic development to revitalize
the Allapattah community. We believe that your organization is well positioned to make a significant
positive impact in your community and NALCAB is committed to supporting it throughout the process of
making it a reality.
We are prepared to proceed as quickly as possible. We envision our remaining due diligence would
include an evaluation of TAC's financial standing, adequateness of real estate collateral, and other
customary environmental and market considerations.
This non -binding indication of interest is not intended, and shall not be deemed, to create any
binding obligation on the part of NALCAB, or any of its affiliates, to engage in any transaction with TAC
or to continue its consideration of any such transaction. Subject to the immediately following sentence,
none of the parties shall be bound in any way in connection with this letter unless and until the parties
National Association for Latino Community Asset Builders I NALCAB.org
5404 Wurzbach Rd., San Antonio, TX 78238 191017th St, NW, Suite 820, Washington, DC 20006
DocuSign Envelope ID: El F70354-523E-480B-A724-167CF19F5BOD
2
execute a definitive agreement, and then shall be bound only in accordance with the terms of such
agreement.
We look forward to working with you.
DocuSigned by:
M,avLa, f ° iLetAA
3BEF0112EE334AE...
Marla Bilonick
President & CEO
National Association for Latino Community Asset Builders (NALCAB)
National Association for Latino Community Asset Builders I NALCAB.org
5404 Wurzbach Rd., San Antonio, TX 78238 191017th St, NW, Suite 820, Washington, DC 20006
DocuSign Envelope ID: 06CE2063-2C16-4265-BAF2-DB98B17E8C9D
April 17th, 2023
The Allapattah Collaborative Community Development Corporation
1951 NW 7th Avenue, Suite 600
Miami, FL 33136
Re: $500,000 Collective Real Estate Ownership (CEO) Recipient — Commitment Letter
Dear Mileyka:
The Miami Foundation, a Florida 501(c)(3) non-profit organization with a 509(a)(1) determination
(the "Foundation"), is pleased to select The Allapattah Collaborative Community Development
Corporation, a Florida not -for -profit corporation ('The Allapattah Collaborative, CDC"), or a
newly created LLC whose sole members will be The Allapattah Collaborative, CDC or The
Allapattah Collaborative, CDC's wholly owned subsidiaries (the "Borrower"), as recipients of a
Five Hundred Thousand and No/100 ($500,000) (the "Funds") loan pursuant to the Collective Real
Estate Ownership (CREO) portion of the Miami Open of Business Program (the "Loan"), upon
and subject to the terms and conditions set forth in this letter (this "Commitment Letter") and in
the Summary of Terms and Conditions attached as Exhibit A hereto and incorporated herein by this
reference (the "Summary of Terms").
The purpose of the Loan is to provide acquisition financing to the Borrower to assist with the
purchase of commercial property located in Miami -Dade County (the "Property") that will be
owned and occupied by The Allapattah Collaborative, CDC (the `'Project"). The Funds may be
used towards the purchase price and/or for select, realty, mortgage, and closing fees incurred at
closing; however, Borrower shall be expected to pay all other transaction costs incurred prior to
closing, including but not limited to inspection and appraisal fees, mortgage application fees, as
well as the earnest money deposit. Additionally, the Foundation is aware Borrower will need
additional sources of funds to assist with acquisition of the Property. As such, the Foundation agrees
to be a subordinate lienholder behind any senior financing that Borrower deems necessary.
This commitment of the Foundation is subject to the satisfaction of each of the following conditions
precedent in a manner acceptable to the Foundation: (a) the accuracy and completeness of all
representations that Borrower and its affiliates make to the Foundation and Borrower's compliance
with the terms of this Commitment Letter (including the Summary of Terms); (b) the absence of
any material adverse conditions in the financial, banking or capital markets generally, in the
judgment of the Foundation; (c) no change, occurrence or development shall have occurred or
become known to the Foundation since the issuance of this letter that has had or could reasonably
be expected to have a Material Adverse Effect (as defined in the Summary of Terms); (d) the
Foundation and Borrower entering into a loan agreement, promissory note, subordinate or
secondary mortgage, and restrictive covenant and the initial grant applicant entering into a
Guarantor Agreement (the "Loan Documents") consistent with the Summary of Terms and
otherwise satisfactory to the Foundation where the mortgage and restrictive covenant are to be
recorded upon closing on the acquisition of the Property; and (e) in addition to the Loan Documents,
the following documents and items must be submitted to the Foundation:
4868-7620-1815 v.1
DocuSign Envelope ID: 06CE2063-2C16-4265-BAF2-DB98B17E8C9D
(i)
title insurance: a standard ALTA mortgagee title policy, providing coverage for
the full principal amount of the Loan, listing only those title exceptions acceptable
to the Foundation, in its sole discretion;
(ii) survey: performed within 60 days of closing of the Property by a registered
surveyor, certified, at a minimum, to the Foundation, Nelson, Mullins, Riley, and
Scarborough, LLP, the title insurance company, and Borrower;
(iii) insurance: including (a) certificate of builder's risk insurance on ACORD 28 form;
(b) comprehensive general liability insurance on ACORD 25 for Borrower
(commercial general liability, excess/umbrella liability, auto liability, worker's
comp and employers' liability); (c) contractor's commercial general liability and
excess/umbrella liability, auto liability, and worker's comp coverage for the
general contractor (ACORD 25 certificate); and (d) flood insurance if the project
is located in a Flood Hazard Area and windstorm insurance if project is located
in a Windstorm Zone. Certificates should designate the Foundation as mortgagee
and loss payee granting the Foundation at least 30 days' notice of intended
cancellation;
(iv) appraisal: current, within 60 days of the closing, self-contained appraisal of the
Property, as if the Project is stabilized and with market financing. Borrower and
Guarantor acknowledge that the Foundation was induced to make the Loan based
upon an initial combined loan -to -value (LTV) ratio of no more than 80%;
(v) Environmental Site Assessment and Environmental Compliance and Indemnity
Agreement: a current Phase I Environmental Site Assessment (ESA) of the
Property performed in accordance with the ASTM 1527-13. The ESA shall be
satisfactory in all respects to the Foundation, certified to the Foundation, and
performed by a Florida licensed geologist or engineer. This Commitment will be
null and void if the Foundation's environmental counsel's review of the ESA or
additional reports indicates any environmental concerns as determined by the
Foundation or its environmental counsel. An agreement shall be signed by
Borrower indemnifying the Foundation from any environmental hazards;
(vi) Purchase and Sale Agreement: copy of the executed purchase and sale agreement
and all amendments thereto for the acquisition of the Property; and
(vii) Other Funding Sources' Agreements: copies of funding agreements with other
parties providing funding to the Project. This shall also include any firm
commitment letters or other proof of funds from primary lenders.
The Loan, less closing costs, shall be proportionately forgiven each year over the course of five (5)
years, if certain conditions are met, including adherence to a forgiveness schedule to be provided
to Borrower when the Loan Documents are presented to Borrower for review, protective provisions
against reselling the property within five (5) years, ensuring a minimum number of businesses are
associated with the tenants, and executing and maintaining a shared equity or collective ownership
model. Such terms shall be further detailed in the Loan Documents. Borrower shall be expected
and prepared to provide regular reporting and progress updates throughout and subsequent to the
transaction process. Borrower will also be asked to provide additional information about how the
asset purchase impacted their business (i.e., staff retention or growth, increase in revenue, sales, or
donations).
4868-7620-1815 v.1
DocuSign Envelope ID: 06CE2063-2C16-4265-BAF2-DB98B17E8C9D
This Commitment Letter may be executed in counterparts which, taken together, shall constitute
an original. Delivery of an executed counterpart of this Commitment Letter by electronic mail,
telecopier or facsimile shall be effective as delivery of a manually executed counterpart thereof.
This Commitment Letter (including the Summary of Terms) embodies the entire agreement and
understanding among the Foundation, Borrower, and Borrower's affiliates with respect to the Loan
and supersedes all prior agreements and understandings relating to the specific matters hereof.
However, please note that the terms and conditions of the commitment of the Foundation hereunder
are not limited to those set forth herein or in the Summary of Terms. Those matters that are not
covered or made clear herein or in the Summary of Terms are subject to mutual agreement of the
parties. No party has been authorized by the Foundation to make any oral or written statements that
are inconsistent with this Commitment Letter. This Commitment Letter is not assignable by the
Borrower without our prior written consent and is intended to be solely for the benefit of the parties
hereto and the Indemnified Parties.
This Commitment Letter and all commitments and undertakings of the Foundation hereunder will
expire at 5:00 p.m. (Eastern time) on April 30th, 2023 unless you execute this Commitment Letter
and return same to the Foundation prior to that time (which may be by electronic mail or facsimile
transmission), whereupon this Commitment Letter (including the Summary of Terms) shall become
binding agreements. Thereafter, all commitments and undertakings of the Foundation hereunder
will expire six (6) months following the date this Commitment is countersigned, subject to
extension by the Foundation; unless Loan Documents are executed and delivered prior to such date.
[THE BALANCE OF THIS PAGE IS INTENTIONALLY LEFT BLANK]
4868-7620-1815 v.1
DocuSign Envelope ID: 06CE2063-2C16-4265-BAF2-DB98B17E8C9D
We are pleased to have the opportunity to work with you in connection with this important
financing.
Very truly yours,
THE MIAMI FOUNDATION, a Florida not -
for -profit organization
oocuspnea ey:
By: cow& riS60.1A. Upst.1
Name: ei e °ca Fishman Lipsey
Title: President and CFO, The
ACCEPTED AND AGREED TO AS OF
THE DATE FIRST ABOVE WRITTEN:
THE ALLAPATTAH COLLABORATIVE
COMMUNITY DEVELOPMENT
CORPORATION, a Florida not -for -profit
corporation
By: [sane,,:
M let.. tunes
Name: MiTeyta Burgos
Title: Fxeciltive Di rector
4868-7620-1815 v.1
SCHEDULE OF VALUES
Property Address
1700 NW 36 ST
Project
1700 MIXED USE
2nd Floor Residential Rehab
PRE -DEVELOPMENT
QUANTITY
COST
NOTES
Architect/MEPS Fees
144,870.00
Survey
1,500.00
Engineering Inspections
9,500.00
Environmental Inspections
2,500.00
Blueprints
500.00
Building Permits & Fees
10,500.00
Min of $57 (or 2.5% of const cost) to Max
of $10.500
Insurance - Builders Risk
Typical 1-5% of total cost of rehab
MDWS SERVICE
-
TBD
FPL SERVICE
-
TBD
Sub Total
169,370.00
10% Contingency
16,937.00
Total
186, 307.00
GENERAL CONDITIONS
Project Managerment/Superintendent
15,000.00
Rental Equipment/Lifts
2,500.00
Temp Construction fence
5,000.00
Temporary Utilities
-
Temporary doors
800.00
Temporary Railings
1,500.00
Temporary Floor Coverings
1,500.00
Portalet
12
1,440.00
Lawn maintenance during construction
-
Misc. Construction Cleaning
2,500.00
Final Clean
6,500.00
Dumpster/Trash Hauling
12
10,200.00
CONSTRUCTION COSTS
QUANTITY
COST
NOTES
Demolition
48,290.00
Septic Tank
-
N/A
Propane/ Natural Gas
-
N/A
Grading & Fill Materials
20,000.00
Trenching and Backfill
7,500.00
Landscape & Sod
15,000.00
Landscape Lighting
15,000.00
Exterior Driveway Pavers/Surface
13,500.00
Exterior Pavers/Surface
2,500.00
Sprinklers
5,000.00
CONSTRUCTION COSTS
QUANTITY
COST
NOTES
Structural Subcontractor
Labor and Materials
143,000.00
Soil Treatment
2,000.00
Wood Trusses
-
N/A
Roofing Subcontractor
182,400.00
Appliances
Kitchen Range
14
12,600.00
Kitchen Fridge/Freezer
14
14,000.00
OTR Micro Recirculating
14
4,200.00
Dishwasher
14
7,700.00
Disposal
14
2,520.00
Installation
14
11,200.00
May be waived depending on sourcing
Cabinets & Vanities
Kitchen Cabinets
14 x 12 LF
68,400.00
Bath Vanities #1,2,3,4,5etc
17 x 2 LF
11,400.00
Carpentry Trim Labor
Exterior doors @ 225
14
2,520.00
Interior doors @ 180
47
8,460.00
Cassing @ 2
2624
5,248.00
Baseboards @ 2.50
7000
17,500.00
Interior Door Hardware
@ 40
47
1,880.00
Exterior Door Hardware
@ 100
14
1,400.00
Doors - Millwork - Trim Materials
Interior doors
47
9,400.00
Baseboards @ 2
8400
16,800.00
Casing @ 2
2624
5,248.00
Entry Doors
14
6,930.00
Window Subcontractor
Subcontractor Labor and Materials
68,000.00
Window shop drawings included
1,800.00
Window Bucks
5,000.00
Closet Shelving
348
5,220.00
Counter Tops ( Material & Fabrication)
Kitchen Cabinets
9 SF * 14
7,695.00
Bath #1,2,3,4,5 etc
5 SF *14
4,275.00
Framing and Drywall
Subcontractor Labor and Materials
142,800.00
Insulation
Subcontractor Labor and Materials
30,000.00
Plumbing Materials
Bathroom x number of bathrooms
Shower pan and drain
17
25,500.00
Shower faucet with handheld
17
15,300.00
toilet
17
4,250.00
sink faucet
17
4,250.00
Sink
17
2,550.00
CONSTRUCTION COSTS
QUANTITY
COST
NOTES
Kitchen
sink
14
4,900.00
Sink faucet
14
7,000.00
Mirrors & Shower Enclosures
Bath #1,2,3,4,5 etc
17
4,250.00
Water heaters
14
10,500.00
Plumbing Subcontractor
113,000.00
Demolition
Electrical Materials Lighting
Fixtures @$35
400
14,000.00
Electrical Subcontractor
Subcontractor Labor and Materials
170,956.00
Electrical Demo included
-
Mechanical Subcontractor
Subcontractor Labor and Materials
138,000.00
Demo included
-
Flooring
Interior Living Area Material
10623.8
26,559.50
Interior Living Area Install
9658
48,290.00
Main Stairs Tread Fabrication
-
Assumption no additional cost
Stair install
-
Assumption no additional cost
Bath Shower walls material
2210
11,050.00
Bath Shower wall Install
2040
24,480.00
Kitchen Backsplash
420
2,100.00
Kitchen backsplash install
420
5,250.00
Water Treatment
Waterproofing
15,000.00
Life Safety
Fire Alarm
29
18,000.00
Sprinklers
-
N/A
Paint Subcontractor
Interior Paint
9658
33,803.00
Exterior Paint
22110
77,385.00
Interior Railings
72
14,400.00
Engineering shop drawings for interior railing
50
1,800.00
Exterior Railings
100
15,000.00
Engineering shop drawings for exterior railing
1,800.00
Chain link Fencing
140
2,800.00
Stucco Subcontractor
62,300.00
Gutters & Downspouts
20,000.00
Generator
-
N/A
Elevator
-
N/A
Sub Total
1,867,799.50
GC Genereal Conditions / Overhead
186,779.95
Typical GC 1O% Profit
186,779.95
Total
2,241,359.40
1O% Contingency
224,135.94
GRAND TOTAL
2,465,495.34
OFFICE OF THE PROPERTY APPRAISER
Summary Report
PROPERTY INFORMATION
Folio
Property Address
Owner
Mailing Address
Primary Zone
Primary Land Use
Beds / Baths /Half
Floors
Living Units
Actual Area
Living Area
Adjusted Area
Lot Size
Year Built
01-3127-009-0100
1700 NW 36 ST
MIAMI, FL 33142-5440
GATOR 1700 NW 36TH ST LLC
7850 NW 146 ST. 4TH FLOOR
MIAMI LAKES, FL 33016
6100 COMMERCIAL - NEIGHBORHOOD
1111 STORE : RETAIL OUTLET
0/0/0
1
0
22,110 Sq.Ft
22,110 Sq.Ft
21,910 Sq.Ft
14,553 Sq.Ft
1925
ESSMENT INFORMATION
Year
Land Value
Building Value
Extra Feature Value
Market Value
Assessed Value
Generated On: 09/27/2024
TAXABLE VALUE INFORMATI
Year
2024 2023 2022 COUNTY
2024
2023
2022
$1,309,770 $1,047,816 $756,756 Exemption Value $0 $0 $0
$954,230 $1,513,584 $688,233 Taxable Value $1,336,723 $1,215,203 $1,104,730
$0 $0 $10,347 SCHOOL BOARD
$2,264,000 $2,561,400
$1,336,723 $1,215,203
t, INFORMATION
Benefit Type
Non -Homestead Assessment
Cap Reduction
$1,455,336 Exemption Value $0 $0 $0
$1,104,730 Taxable Value $2,264,000 $2,561,400 $1,455,336
CITY
2024 2023 2022 Exemption Value $0 $0 $0
$927,277 $1,346,197 $350,606 Taxable Value $1,336,723 $1,215,203 $1,104,730
Note: Not all benefits are applicable to all Taxable Values (i.e.
County, School Board, City, Regional).
SHORT y IPTION
COLONNAS SUB PB 11-69
LOT 11 THRU 13 INC
LOT SIZE IRREGULAR
OR 17440-0910 1196 4
REGIONAL
Exemption Value
Taxable Value
SALES INFORMATION
Previous
Sale
Price
07/26/2013 $642,000
11/01/1996 $0
$0 $0 $0
$1,336,723 $1,215,203 $1,104,730
OR
Book- Qualification Description
Page
28754- Not exposed to open -market;
4185 atypical motivation
Sales which are disqualified as
a result of examination of the
deed
17440-
0910
The Office of the Property Appraiser is continually editing and updating the tax roll. This website may not reflect the most current information
on record. The Property Appraiser and Miami -Dade County assumes no liability, see full disclaimer and User Agreement at
http://www.miamidade.gov/info/disclaimer.asp