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Home My WebLink AboutCRA-R-24-0047 Lease Term SheetLease Term Sheet Landlord: Wynwood Works, LLC, a Florida limited liability company Tenant: OMNI Redevelopment District Community Redevelopment Agency, a public agency and body corporate created pursuant to Section 163.356, Florida Statutes Project The Project, also referred to as "Wynwood Works" is a 12-story, mixed -use apartment building containing ground for retail space, structured parking, residential apartments, and residential amenities. Premises: Deemed to be 5,153 rentable square feet Lease Date: The date the Lease is fully executed by both Landlord and Tenant. Effective Date: The date the Project obtains either: a) a Certificate of Occupancy; or b) a Temporary Certificate of Occupancy. Rent Commencement Date: Same as the Effective Date. Term: Six years, starting on the Effective Date. Gross Rent: $20,833.00 per month + any applicable sales tax Increases to Rent: On each anniversary of the Effective Date, the Rent shall increase by 3.0%. For clarification and the avoidance of doubt, below are Gross Rent Amounts: Months 1-12: $20,833.00 per month Months 13-24: $21,457.99 per month Months 25-36: $22,101.73 per month Months 37-48: $22,764.78 per month Months 49-60: $23,447.73 per month Months 61-72: $24.151.16 per month Parking Spaces: 15 Reserved Parking Spaces Permitted Uses: See Exhibit "B" attached hereto. Right to Sublet: Tenant has the right to sublet the Premises, subject to the following restrictions set forth on Exhibit "C." Delivery of the Premises: Landlord shall deliver the Premises in shell condition without demising walls. The exact condition of delivery can be discerned by reviewing the Landlord's Master Building Permit plans (BD21-019028-001-B001) Exhibit "A" Site Plan N MIAMI AVENUE Exhibit "B" Permitted Uses Tenant agrees that the Premises shall be used for lawful purpose only. Tenant shall not do anything which may interfere with the rights of other tenants in the Project nor shall Tenant use the Premises in violation of any applicable governmental codes, laws, or ordinances, including, without limitation, those certain restrictions contained in the Regulatory Agreement and Tax Credit/Bond Application submitted by the Landlord with respect to the Apartment Building (collectively, the "Laws"). Tenant shall not cause or permit the Premises to be used for the manufacture, storage, use, release or disposal of hazardous materials or for any purpose deemed to be extra hazardous on account of fire, or permit anything to be done which would in any way increase the rate of fire insurance coverage on said building and/or its contents. Furthermore, Tenant shall not use the Premises for any of the following prohibited uses: (a) any manufacturing, distilling, refining, smelting, agricultural or mining operation; (b) any dumping, disposing, incineration or reduction of garbage; (c) any bowling alley or skating rink; (d) any mortuary or funeral home; (e) any establishment selling or exhibiting "obscene" material; (t) any establishment selling or exhibiting drug -related paraphernalia; (g) any establishment which exhibits, either live or by other means to any degree, nude or partially clothed dancers or wait staff; (h) any gambling facility or operation, including, but not limited to: off-track or sports betting parlor; table games such as blackjack or poker; slot machines, video poker/blackjack/keno machines or similar devices; or bingo hall; (i) any auto repair facility; G) any gun or ammunition shop; (k) any tattoo parlor; (1) any liquor store; (m) any pawn, secondhand or junk shop business, or any auction or flea market business; (n) any title loans, payday loans, check cashing or similar operations or activities; ( o) any on -premises dry cleaner; (p) any escort service or any adult oriented products or entertainment, including, without limitation, any wholesale or retail stores, services, clubs, theaters, movie stores or other business or service relating to the adult oriented industry; (q) any bail bond issuer; (r) any business which produces environmental hazards regulated under applicable environmental laws; (s) any parole, juvenile detention or similar service; (t) any piercing service; (u) any business selling cannabis (whether for medicinal or recreational purposes), (v) any business that serves food or alcoholic beverages before 5:00 am or after midnight, (w) any use which would be patently offensive to the members of the community in which the Project is located; (x) any use which would materially and adversely interfere with the ability to occupy the Project (other than the Premises) as a multifamily housing project; or (y) any use that would cause the cancellation of any insurance policy on the Project and prevent the replacement of said policy on commercially reasonable terms. Exhibit "C" Sublease Restrictions Landlord Sublease Review: Tenant shall allow Landlord three business days to review any proposed sublease for compliance with the terms of the Lease before any such Sublease is executed. Exterior Signage: Any Sublease shall include the following provision: "Subtenant shall not erect or install any signs, lettering or placards in or around the Premises, without the prior written consent of both the Tenant and Landlord. Subtenant shall, at its own expense, install within thirty (30) days after the Commencement Date of the Sublease an exterior sign consisting of LED backlit reverse channel letters in a place on the Premises to be designated by Landlord, which sign will advertise Subtenant's name or type of business. The form, color, materials, design, location and dimensions of the sign will be subject to Tenant and Landlord's prior written approval and shall comply with all applicable local governmental and any other regulations, laws, orders or ordinances, which shall not unreasonably be delayed, conditioned or withheld. Subtenant shall, at its sole cost and expense, remove all signage at the expiration or earlier termination of the Sublease and repair any damage to the Premises caused by the installation and removal of the signage " Use: The Sublease must reference the Lease and explicitly restrict the Subtenant from any of the prohibited uses outlined in Exhibit "B" herein. Term: The base term of any Sublease may not exceed 10 calendar years.