HomeMy WebLinkAbout25062AGREEMENT INFORMATION
AGREEMENT NUMBER
25062
NAME/TYPE OF AGREEMENT
JOSE MARTI VILLAS, LLC
DESCRIPTION
AGREEMENT TO SUBORDINATE TO RENTAL ASSISTANCE
DEMONSTRATION USE AGREEMENT/DECLARATION OF
RESTRICTIVE COVENANTS/MATTER ID: 22-3332/#29
EFFECTIVE DATE
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
6/17/2024
DATE RECEIVED FROM ISSUING
DEPT.
7/1/2024
NOTE
CITY OF MIAMI
DOCUMENT ROUTING FORM
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ORIGINATING DEPARTMENT: HOUSING AND COMMUNITY DEVELOPMENT
DEPT. CONTACT PERSON:
Alberto Castellon
EXT. 2084
NAME OF OTHER CONTRACTUAL PARTY/ENTITY:
Jose Marti Villas, Inc.
IS THIS AGREEMENT AS A RESULT OF A COMPETITIVE PROCUREMENT PROCESS?
TOTAL CONTRACT AMOUNT: $ FUNDING INVOLVED?
TYPE OF AGREEMENT:
❑ MANAGEMENT AGREEMENT
O PROFESSIONAL SERVICES AGREEMENT
O GRANT AGREEMENT
❑ EXPERT CONSULTANT AGREEMENT
O LICENSE AGREEMENT
OTHER: (PLEASE SPECIFY):
❑YES ENO
❑ YES ® NO
❑ PUBLIC WORKS AGREEMENT
❑ MAINTENANCE AGREEMENT
❑ INTER -LOCAL AGREEMENT
O LEASE AGREEMENT
❑ PURCHASE OR SALE AGREEMENT
These are two subordination documents, please see further below.
PURPOSE OF THE ITEM (BRIEF SUMMARY):
These are two subordination documents- one to subordinate the City's Loan Docs under HUD's RAD
agreement (which will pay for vouchers associated with the conversion of the Jose Marti public
housing site to a standard, private rental building) and the other, to subordinate our restrictive
covenants to the same RAD agreement. HUD's RAD agreement has to be in first position.
COMMISSION APPROVAL DATE: FILE ID: ENACTMENT No.:
IF THIS DOES NOT REQUIRE COMMISSION APPROVAL, PLEASE EXPLAIN:
ROUTING INFORMATION
Date
PL
E PRINT AND SIGN
APPROVAL BY DEPARTMENTAL DIRECTOR
6/6/2024
PRINT:
SIGNATURE:
,�
Alfredo Duran
SUBMITTED TO RISK MANAGEMENT
N/A
PRINT: ANN- ARIE SHARPE
SIGNATURE:
1r `t
SUBMITTED TO CITY ATTORNEY �V -1-1� %. Z- ?j'Lj 1y
PRINT: GEORGE S
`u
SIGNATURE:
APPROVAL BY ASSISTANT CITY MANAGER/CFO
PRINT: LARRY SPRI
SIGNATURE:
RECEIVED BY CITY MANAGER
PRINT: ART NO A V.
SIGNATURE:
RECEIVED BY DEPUTY CITY MANAGER
2 cl
PRINT: NATASHA
SIGNATURE:
COLEBF�
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K-WILLIAMS
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1) ONE ORIGINAL TO CITY CLERK,
2) ONE COPY TO CITY ATTORNEY'S OFFICE,
3) REMAINING ORIGINAL(S) TO ORIGINATING DEPARTMENT
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PRINT: TODD . HANNON
SIGNATURE:
PRINT: ✓ -4- l '
SIGNATURE::1��t
PRINT: i./
SIGNATURE:
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PLEASE ATTACH THIS ROUTING FORM TO ALL DOCUMENTS THAT REQUIRE EXECUTION BY THE CITY MANAGER
AFTER RECORDING PLEASE RETURN TO:
Efrem Levy, Esq.
Reno & Cavanaugh, PLLC
455 Massachusetts Ave, NW, Suite 400
Washington, D.C. 20001
Phone: (202) 349-2454
Fax: (202) 349-2455
Recorder's Stamp
AGREEMENT TO SUBORDINATE TO RENTAL ASSISTANCE DEMONSTRATION
USE AGREEMENT
JOSE MARTI VILLAS -
DECLARATION OF RESTRICTIVE COVENANTS
This Agreement to Subordinate to Rental Assistance Demonstration Use Agreement (the
"Subordination") is entered into as of , 2024 by and among CITY OF MIAMI, a
municipal corporation of the State of Florida ("City") and JOSE MARTI VILLAS, LLC, a
Florida limited liability company (the "Borrower"), collectively, the "Parties."
WHEREAS, the Project Owner owns that one hundred forty-six (146) unit (the "Units")
multi -family apartment complex with an address of 154 SW 17th Avenue and 455 SW 16th
Avenue, Miami FL 33135, commonly known as Jose Marti Villas (the "Project"), and located on
the real property described on Exhibit "A" attached hereto; and
WHEREAS, in connection with the financing of the Project, the Parties executed the
following documents:
1. Declaration of Restrictive Covenants for Affordable Housing Development/Attainable
Mixed -Income Housing Development among City and Borrower dated and recorded as of
substantially even date herewith in the County Records.
2. Declaration of Restrictive Covenants for Attainable Mixed -Income Housing
Development among City and Borrower dated and recorded as of substantially even date
herewith in the County Records.
Collectively, items 1-2 are hereinafter referred to as the "Subordinate Documents".
WHEREAS, the U.S. Department of Housing and Urban Development ("HUD") has
authorized the conversion of forty-two (42) of the Units (the "RAD Units"), from public housing
to Section 8 assistance under the Rental Assistance Demonstration ("RAD") program, pursuant to
Public Law 112-55 and has issued a RAD Conversion Commitment for the Project, dated April
18, 2024 (the "RCC"); and
Page 1 of 7
4882-0185-4393, v. 1
WHEREAS, as a condition of the RAD conversion, the Project Owner executed a Rental
Assistance Demonstration Use Agreement dated and recorded as of substantially even date
herewith (the "RAD Use Agreement") for the benefit of HUD; and
WHEREAS, HUD requires as a condition of the RAD conversion that the Parties agree to
subordinate the Subordinate Documents to the RAD Use Agreement;
NOW THEREFORE, let it be known to all interested parties, that for good and valuable
consideration, the receipt of which is hereby acknowledged, the undersigned do hereby agree:
1. So long as the RAD Use Agreement, and all extensions thereto, be in effect, the
Subordinate Documents shall in all respects be subordinate to the RAD Use Agreement.
2. This Subordination extends to and continues in effect with respect to any future
amendment, extension, renewal, or any other modification of the RAD Use Agreement or
the Subordinate Documents.
3. In the event of conflict between the Subordinate Documents and the RAD Use Agreement,
the RAD Use Agreement controls, provided that nothing herein shall impair the City's right
to require the Project Owner to pay those deferred impact fees in the event of Owner's
failure to maintain the Project as an Affordable Housing community to the extent required
by the Subordinate Documents.
4. The following amendments to the Subordinate Documents require the prior written consent
of HUD: Any amendment to any HUD -required provisions in the Subordinate Documents,
an increase in the interest rate, an increase of the total indebtedness, an acceleration of the
amortization or payment schedule, and any changes that would preclude or impair a
reasonable opportunity to cure any defaults by the Project Owner under the Subordinate
Documents.
5. This Subordination will survive bankruptcy and foreclosure.
6. This Subordination may be signed in counterparts.
7. The invalidity, in whole or in part, of any of the provisions set forth in this Subordination,
shall not affect or invalidate any remaining provisions.
8. This Subordination and every covenant hereof shall be binding upon the Parties and their
respective successors and assigns. This Subordination shall not be modified or amended
except by a written instrument executed by all parties hereto and approved in writing by
HUD.
9. The parties shall be entitled to electronically sign this Agreement in accordance with the
provisions of Section 668.50, F.S., and thereafter deliver it in digital format (whether by
Page 2 of 7
4882-0185-4393, v. 1
facsimile, PDF or other email transmission), which signature shall have the same effect
as original signature and be binding on the party whose name is contained therein.
[SIGNATURE PAGE(S) TO FOLLOW]
Page 3 of 7
4882-0185-4393, v. 1
In witness whereof, the Parties have executed this Subordination as of the date first written
above.
ATTEST:
By:
CITY:
CITY OF MIAMI, a municipal corporation of the
State of Florida
/
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Arthur Noriega V, CityManager
APPROVED:
D. g and Community Daniel S. Goldberg, Esq.
Dev: opm., repartment Zoning Administrator
APPRO ' t AS TO FORM AND
CORRECTNESS:
George Kl1 Wysong
City Attorney
ACKNOWLEDGMENT
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
The foregoing instrument was ac�wledged before me by means of physical presence or 0 online
notarization, this VI day of Jul , 2024, Arthur Noriega V, as City Manager of CITY
OF MIAMI, a municipal corporation of the State of Florida.
„dam
Printed Name
Notary Public, State of Florida
❑ Personally Known or 0 Produced Identification
Type of Identification Produced
SANDRA GILBERT
MY COMMISSION # HH 112572
o°• EXPIRES: April 20, 2025
.•OF r,v,, Bonded Thru Notary Public Underwriters
Page 4 of 7
4882-0185-4393,v.1
BORROWER:
JOSE MARTI VILLAS, LLC,
a Florida limited liability company
By: Jose Marti Villas Manager, LLC,
a Florida limited liability company,
its manager
By:
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
1/
Tony Del Pozzo, Vice President
The foregoing instrument ws acknowledged before me by means of* physical presence or ❑
online notarization, this 5 day of ,N.y.r\e_ , 2024, by Tony Del Pozzo as Vice
President of Jose Marti Villas Manager, LLC, a Florida limited liability company, the manager of
Jose Marti Villas, LLC, a Florida limited liability company.
,Yx7Xtr\L \\e34.6
Printed Name
Notary Public, State of Florida
Signature
8 Personally Known or ❑ Produced Identification
Type of Identification Produced
111
tary Public Sta. •
Jazzine C.
My Commission •
Expires 1/e/2
4882-0185-4393, v. 4
Exhibit A
Leasehold estate created by that certain Ground Lease by and between Miami -Dade County, a
political subdivision of the State of Florida, as Lessor, and Jose Marti Villas, LLC, a Florida limited
liability company, as Lessee, dated , 2024, as evidenced by that certain Memorandum of
Ground Lease to be recorded in the Public Records of Miami -Dade County, Florida, as to the
following:
Parcel 1
TRACT A OF "LITTLE HAVANA FIRST ADDITION", ACCORDING TO THE PLAT
THEREOF, RECORDED IN PLAT BOOK 120, AT PAGE 11, OF THE PUBLIC RECORDS OF
MIAMI-DADE COUNTY (FORMERLY DADE COUNTY), FLORIDA
LESS AND EXCEPT THEREFROM:
RIGHT OF WAY (OFFICIAL RECORDS BOOK 11590, PAGE 298):
A PORTION OF TRACT A OF "LITTLE HAVANA FIRST ADDITION", ACCORDING TO
THE PLAT THEREOF, RECORDED IN PLAT BOOK 120, AT PAGE 11, OF THE PUBLIC
RECORDS OF MIAMI-DADE COUNTY (FORMERLY DADE COUNTY), FLORIDA, BEING
MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGIN AT THE NORTHEAST CORNER OF SAID TRACT A; THENCE RUN S 01 DEGREE
58'42" E, ALONG THE EAST LINE OF SAID TRACT A, FOR A DISTANCE OF 29.99 FEET;
THENCE RUN N 04 DEGREES 28'08" W FOR A DISTANCE OF 30.02 FEET TO THE POINT
OF INTERSECTION WITH THE NORTH LINE OF SAID TRACT A; THENCE RUN N 87
DEGREES 57'59" E, ALONG THE NORTH LINE OF SAID TRACT A, FOR A DISTANCE OF
1.30 FEET TO THE POINT OF BEGINNING.
Parcel 2
LOTS 8 TO 13, BLOCK 94, OF LAWRENCE ESTATE LAND CO'S SUBDIVISION,
ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 2, AT PAGE 46,
OF THE PUBLIC RECORDS OF MIAMI-DADE COUNTY, FLORIDA.
4882-0185-4393, v. 1