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Home My WebLink AboutExhibit BExhibit "B" Prepared by and return to: City of Miami 444 SW 2nd Avenue Miami, FL 33130 Reserved for Recording - = . .: ? Ta cr THIS DECLARATION OF RESTRICTIVE COVENANTS (the "Declaration") made this day of , 2024, by GLEN ROYAL RENTALS LLC, a Florida limited liability company, having offices at 8600 NW 41 Street, Miami, Florida 33166 (the "Owner") in favor of the City of Miami, Florida, a municipality of the State of Florida (the "City"). DECLARATION OF RESTRICTIVE COVENANTS WITNESSETH: WHEREAS, Owner holds fee -simple title to certain properties located at 2250 and 2260 NW Flagler Terrace and 55 NW 23 Avenue, Miami, Florida, legally described in Exhibit A attached hereto and made a part hereof (collectively, the "Property"), which are the subject of a rezoning application; and WHEREAS, Owner has filed applications for (a) Future Land Use Map amendment to re- designate the Property from "Duplex Residential" to "Medium Density Restricted Commercial" and (b) rezoning from T4-R to T5-L (collectively, the "Application"); and WHEREAS, the Owner is desirous of making a voluntary binding commitment to assure and affirm that the Property shall be developed in accordance with the provisions of the Declaration herein. NOW, THEREFORE, for valuable consideration, the receipt and adequacy of which are hereby acknowledged, Owner voluntarily covenants and agrees that the Property shall be subject to the following restrictions that are intended and shall be deemed to be covenants running with the land and binding upon the Owner, its successors in interest and assigns, as follows. 1. Recitals. The recitals and findings set forth in the preamble of this Declaration are hereby adopted by reference thereto and incorporated herein as if fully set forth in this Section. 2. Affordable Housing. Five percent (5%) of the total number of units developed at the Property as part of any multifamily residential or condominium development shall be owner occupied and/or rental housing with a purchase cost, value, or monthly rental, as applicable, equal to or less than the amounts established by the applicable standards for those individuals whose income is at or below eighty percent (80%) of Area Median Income of Miami -Dade County ("AMI") as certified by the Department of Housing and Community Development (the 1 16701 - Exhibit B Folio Nos. 01-4103-033-0740, 01-4103-033-0730, and 01-4103-033-0720 "Affordable Housing Units"). This condition shall only apply to multifamily residential housing or condominium development on the Property. Prior to converting any of the Affordable Housing Units from rental units to homeownership units, the Owner, or its successors or assigns, must request and receive written authorization from the City Manager. In the event that the conversion is authorized, the City and Owner shall coordinate to record covenants on individual units ("Individual Covenants") in a manner that creates the same amount of Affordable homeownership units specified in this Declaration. Each Individual Covenant must (i) specify the applicable AMI for any purchaser during the term of the Individual Covenant and (ii) expire on the same date as the Covenant for Affordable Housing. In the event that any of the Affordable Housing Units are sold, the specific Unit(s) must be sold with a purchase cost equal to or less than the standards for those individuals whose income is at or below the AMI as established herein. Each Affordable Housing Unit sold shall include a deed restriction that the Unit shall only be sold with a purchase cost equal to or less than the standards for those individuals whose income is at or below the applicable AMI as established herein and shall further indicate that the Unit shall only be rented to individuals whose income is at or below the AMI as established herein. The deed restriction must specify the specific applicable AMI. 3. Effective Date. This Declaration shall constitute a covenant running with the title to the Property and be binding upon Owner, its successors and assigns upon recordation in the Public Records of Miami -Dade County, Florida. These restrictions shall be for the benefit of, and a limitation upon, all present and future owners of the Property and for the public welfare. 4. Term of Declaration. This voluntary Declaration on the part of the Owner shall remain in full force and effect and shall be binding upon the Owner, its successors in interest and assigns for an initial period of thirty (30) years from the date this Declaration is recorded in the public records, and shall be automatically extended for periods of ten (10) years, unless modified, amended or released prior to the expiration thereof. 5. Inspection. It is understood and agreed that any official inspector of the City may have the right at any time during normal working hours of the City's inspector to enter upon the Property for the purpose of investigating the use of the Property, and for determining whether the conditions of this Declaration and the requirements of the City's building and zoning regulations are being complied with. 6. Enforcement. An action to enforce the terms and conditions of this Declaration may be brought by the City and may be by action at law or in equity against any party or person violating or attempting to violate any covenants of this Declaration or provisions of the building and zoning regulations to restrain violations, to recover damages, or for any other remedy available. In addition, any violation or noncompliance of this Declaration shall be immediately referred to the Code Compliance Department for enforcement proceedings, lien placement, and citations pursuant to Chapter 2, Article X of the City Code, Chapter 62 of the City Code, as both may be amended, and this Declaration. Any violation or noncompliance of this Declaration shall be referred to the 2 Folio Nos. 01-4103-033-0740, 01-4103-033-0730, and 01-4103-033-0720 City Attorney's Office for enforcement, including but not limited to injunctive relief and/or any other remedies in law or equity. This enforcement provision shall be in addition to any other remedies available under the law. The use of one remedy shall not preclude the use of another. 7. Non -Compliance. Any violation or noncompliance of this Declaration regarding the affordable housing component shall result in a monetary penalty to be deposited into the Affordable Housing Trust Fund. Such monetary penalty shall be assessed as a daily fine of two hundred fifty dollars ($250.00) per day per violation until proof of compliance has been provided to the City. The monetary penalty shall not be subject to mitigation or otherwise modified by any body or board including, but not limited, to the Code Enforcement Board. 8. Amendment, Modification, and Release. This Declaration may be modified, amended, or released as to any portion or all of the Property only after approval by the City Commission at a publicly noticed hearing. All costs, expenses, and fees associated with releasing this Declaration shall be the sole responsibility of the party requesting the release. Any amendment, modification, or release approved by the City Commission shall be executed by the Planning Director, the Zoning Director, and the Housing and Community Development Director, or their successor, or designee, and be in a form acceptable to the City Attorney. 9. Severability. Invalidation of any one of these covenants by judgment of Court shall not affect any of the other provisions of this Declaration, which shall remain in full force and effect. 10. Recordation. This Declaration will be e-recorded by the City of Miami, at the Owner's expense, in the public records of Miami -Dade County, Florida upon full execution. 11. Counterparts/Electronic Signature. This Declaration may be executed in any number of counterparts, each of which so executed shall be deemed to be an original, and such counterparts shall together constitute but one and the same Declaration. The parties shall be entitled to sign and transmit an electronic signature of this Declaration (whether by facsimile, PDF or other email transmission), which signature shall be binding on the party whose name is contained therein. Any party providing an electronic signature agrees to promptly execute and deliver to the other parties an original signed Declaration upon request. 12. No Vested Rights. Nothing in this Declaration shall be construed to create any vested rights whatsoever to the Owner, its successors and assigns. SIGNATURE PAGES TO FOLLOW 3 p $ 3 Folio Nos. 01-4103-033-0740, 01-4103-033-0730, and 01-4103-033-0720 IN WITNESS WHEREOF, the undersigned has set his hand and seal this , 2024. Witnessed by: GLEN ROYAL RENTALS LLC, A Florida limited liability company By: Name: Title: Name: Name: STATE OF FLORIDA ) ) ss: COUNTY OF MIAMI-DADE ) day of The foregoing instrument was acknowledged before me by means of [ ] physical presence or [ ] online notarization this day of , 2024 by of GLEN ROYAL RENTALS LLC, a Florida limited liability company. He personally appeared before me, is personally known to me or produced as identification. Name: Notary Public, State of Florida Commission No. My commission expires: -.3 T1 4 Folio Nos. 01-4103-033-0740, 01-4103-033-0730, and 01-4103-033-0720 APPROVED AS TO CONTENTS: David Snow Planning Director Tamara Allen Frost, AICP Zoning Administrator Victor Turner Director Department of Housing and Community Development APPROVED AS TO LEGAL FORM AND CORRECTNESS: George K. Wysong, III City Attorney 5 Folio Nos. 01-4103-033-0740, 01-4103-033-0730, and 01-4103-033-0720 Exhibit "A" Legal Description of Property Lots 83, 84 and 85, Amended Plat and Resubdivision of Glenroyal, according to the map or plat thereof as recorded in Plat Book 5, Page 56, Public Records of Miami —Dade County, Florida. 6