HomeMy WebLinkAboutR-25-0029City of Miami
Resolution R-25-0029
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 17142 Final Action Date: 2/13/2025
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE A
SECOND AMENDED AND RESTATED COVENANT IN LIEU OF UNITY OF
TITLE ("SECOND AMENDED COVENANT") TO ALLOCATE AND TRANSFER
NO MORE THAN TEN (10) RESIDENTIAL DWELLING UNITS TO THE
PROPERTY OWNED BY LANCELOT MIAMI RIVER, LLC, A DELAWARE
LIMITED LIABILITY COMPANY ("LANCELOT"), LOCATED AT 230
SOUTHWEST 3RD STREET, MIAMI, FLORIDA 33130, AND IDENTIFIED AS
FOLIO NUMBER: 01-4137-038-0030, AS MORE PARTICULARLY DESCRIBED
IN THE ATTACHED AND INCORPORATED EXHIBIT "A,", FROM THE CITY OF
MIAMI ("CITY") OWNED PROPERTY, LOCATED AT 444 SOUTHWEST 2ND
AVENUE, MIAMI, FLORIDA 33130, AND IDENTIFIED AS FOLIO NUMBER: 01-
4137-038-0020 AS MORE PARTICULARLY DESCRIBED IN THE ATTACHED
AND INCORPORATED EXHIBIT "B"; FURTHER AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE A FIRST AMENDED AND
RESTATED SALE/REFINANCING TRANSACTION FEE AGREEMENT
("AMENDED FEE AGREEMENT") TO PROVIDE FOR THE PAYMENT BY
LANCELOT TO THE CITY OF AN ADDITIONAL ONE-TIME CAPITAL
TRANSACTION FEE TO CAPTURE THE TRANSFER OF UP TO TEN (10)
RESIDENTIAL DWELLING UNITS; FURTHER AUTHORIZING THE CITY
MANAGER TO NEGOTIATE AND EXECUTE SUCH AGREEMENTS,
APPLICATIONS, ASSIGNMENTS, AND OTHER DOCUMENTS, INCLUDING
AMENDMENTS AND MODIFICATIONS TO SAID AMENDED FEE
AGREEMENT AND SECOND AMENDED COVENANT, ALL IN FORMS
ACCEPTABLE TO THE CITY ATTORNEY, AS MAY BE NECESSARY TO
AUTHORIZE THE CITY, AS OWNER, TO EFFECTUATE THE PURPOSES SET
FORTH HEREIN, SUBJECT TO ALL FEDERAL, STATE, AND LOCAL LAWS
THAT REGULATE SUCH TRANSACTIONS.
WHEREAS, Lancelot Miami River, LLC, a Delaware limited liability company
("Lancelot"), is the fee simple owner of the property located at 230 Southwest 3rd Street, Miami,
Florida 33130, identified as Folio No. 01-4137-038-0030, as further described in Exhibit "A,"
attached and incorporated ("Receiving Property"); and
WHEREAS, CH Riverside, LLC, a Florida limited liability company ("CH Riverside"), is
the fee simple owner of the property located at 300 Southwest 2nd Avenue, Miami, Florida
33130, identified as Folio No. 01-4137-038-0035 ("CH Riverside Property"); and
WHEREAS, City of Miami, a Florida municipal corporation of the State of Florida ("City"),
is the fee simple owner of the property located at 444 Southwest 2nd Avenue, Miami, Florida
33130, identified as Folio No. 01-4137-038-0020, as further described in Exhibit "B," attached
City of Miami Page 1 of 3 File ID: 17142 (Revision:) Printed On: 8/12/2025
File ID: 17142 Enactment Number: R-25-0029
and incorporated ("Sending Property"), and the property located at 460 Southwest 2nd Avenue,
Miami, Florida 33130, identified as Folio No. 01-4137-038-0010 ("Waterfront Parcel", and
together with the Sending Property, the "Miami Riverside Property"); and
WHEREAS, the City and Lancelot entered into that certain Agreement and Lease dated
November 21, 2019 ("Agreement and Lease"), authorizing Lancelot to lease and develop the
Miami Riverside Property; and
WHEREAS, in connection with the Agreement and Lease, the City and Lancelot entered
into that certain Sale/Refinancing Transaction Fee Agreement dated November 21, 2019 and
recorded in Official Records Book 31739, Page 4320, of the Public Records of Miami -Dade
County, Florida ("Existing Transaction Fee Agreement"); and
WHEREAS, the City, Lancelot, and CH Riverside are parties to that certain Amended
and Restated Covenant in Lieu of Unity of Title recorded in Official Records Book 33924, Page
4675, of the Public Records of Miami -Dade County, Florida ("Amended Covenant"), which
unifies the Sending property, the Receiving Property, and the CH Riverside Property in order to
remove internal property lines for purposes of compliance with setback regulations; and
WHEREAS, pursuant to that certain Waiver Final Decision for PZ-22-14393, the
Receiving Property is currently approved for the development of a mixed -use building containing
three hundred forty-five (345) residential dwelling units ("Lancelot Project"); and
WHEREAS, pursuant to the Agreement and Lease, Lancelot, or a Lancelot affiliate, may
develop the Miami Riverside Property with a residential or mixed -use project; and
WHEREAS, Lancelot intends to modify the Lancelot Project to include up to an
additional ten (10) residential dwelling units; and
WHEREAS, the City has agreed to transfer to Lancelot, and Lancelot has agreed to
accept from the City, up to ten (10) residential dwelling units from the Sending Property to, and
for the benefit of, the Receiving Property ( "Allocated Dwelling Units") pursuant to a Second
Amended and Restated Covenant in Lieu of Unity of Title ("Second Amended Covenant"); and
WHEREAS, the City and Lancelot wish to transfer and memorialize the transfer of
Allocated Dwelling Units from the Sending Property to the Receiving Property and, in
connection therewith, provide for the payment by Lancelot to the City of an additional one-time
capital transaction fee for the Allocated Dwelling Units, without limitation of the rights and
benefits currently afforded to the City, pursuant to an amendment to the Existing Transaction
Fee Agreement ("Amended Fee Agreement");
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as if fully set forth in this Section.
City of Miami Page 2 of 3 File ID: 17142 (Revision:) Printed on: 8/12/2025
File ID: 17142 Enactment Number: R-25-0029
Section 2. The City Manager is authorized' to negotiate and execute the Second
Amended Covenant to transfer the Allocated Dwelling Units from the Sending Property to the
Receiving Property.
Section 3. The City Manager is further authorized' to negotiate and execute the
Amended Fee Agreement to provide for the payment by Lancelot to the City of an additional
one-time capital transaction fee to capture the transfer of up to ten (10) residential dwelling
units.
Section 4. The City Manager is further authorized' to negotiate and execute such
agreements, applications, assignments, and other documents, including amendments and
modifications to said Amended Fee Agreement and Second Amended Covenant, all in forms
acceptable to the City Attorney, as may be necessary to authorize the City, as owner, to
effectuate the purposes set forth herein, subject to all federal, state, and local laws that regulate
such transactions.
Section 5. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
APPROVED AS TO FORM AND CORRECTNESS:
rge Wyy ng III, C y ttor -y 2/4/2025
1 The herein authorization is further subject to compliance with all legal requirements that may
be imposed, including but not limited to, those prescribed by applicable City Charter and City
Code provisions.
City of Miami Page 3 of 3 File ID: 17142 (Revision:) Printed on: 8/12/2025