HomeMy WebLinkAbout25363AGREEMENT INFORMATION
AGREEMENT NUMBER
25363
NAME/TYPE OF AGREEMENT
CASA VALENTINA, INC. & DFI MUNDY LLC
DESCRIPTION
ARPA LOAN ASSIGNMENT, ASSUMPTION & CONSENT
AGREEMENT/DEVELOP (8) UNITS OF AFFORDABLE
HOUSING IN DISTRICT 2/MATTER ID: 23-2476/#54
EFFECTIVE DATE
December 31, 2024
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
12/30/2024
DATE RECEIVED FROM ISSUING
DEPT.
12/30/2024
NOTE
Prepared by:
Xavier E. Alban, Esq.
Assistant City Attorney, City of Miami
444 S.W. 2nd Avenue
Miami, FL 33130-1910
Tel: (305) 416-1800
After recording return to:
Dollila Pinkhasov
Property Manager
City of Miami
Department of Housing and Community Development
14 N.E. 1st Avenue, Second Floor
Miami, FL 33132
Property Addresses: 3173 Mundy Street, Miami, FL 33133; 3121 Mundy Street, Miami, FL 33133
The attached ARPA Loan Assignment, Assumption and Consent Agreement dated as of
December 31, 2024, by and among CITY OF MIAMI, a municipal corporation of the State of
Florida (the "City"), CASA VALENTINA, INC, a Florida not for profit corporation with its chief
executive office at 2103 Coral Way Miami, Florida 33145 (the "Assignor"), and DFI MUNDY
LLC, a Florida limited liability company with its chief executive office at 19 West Flagler Street,
Suite 1001, Miami, Florida 33130 (the "Assignee"), modifies the following documents that have
been recorded in the Public Records of Miami Dade County, Florida:
1. MORTGAGE AND SECURITY AGREEMENT FOR CASA VALENTINA, INC., dated
September 6, 2022, and recorded on September 7, 2022, in Official Records Book 33372,
Pages 2286-2299 of the Public Records of Miami -Dade County, Florida.
2. DECLARATION OF RESTRICTIVE COVENANTS FOR CASA VALENTINA, dated
September 6, 2022, and recorded on September 7, 2022, in Official Records Book 33372,
Pages 2300-2306 of the Public Records of Miami -Dade County, Florida.
3. RENT REGULATORY AGREEMENT FOR CASA VALENTINA, dated September 6,
2022, and recorded on September 7, 2022, in Official Records Book 33372, Pages 2307-
2315 of the Public Records of Miami -Dade County, Florida.
4. AMENDMENT NO.1 TO THE CASA VALENTINA LOAN DOCUMENTS, dated
October 13, 2022, and recorded on October 17, 2022, in Official Records Book 33425,
Pages 3866-3881 of the Public Records of Miami -Dade County, Florida.
5. AMENDED AND RESTATED MORTGAGE AND SECURITY AGREEMENT FOR
CASA VALENTINA, INC., dated October 13, 2022, and recorded on October 17, 2022,
in Official Records Book 33425, Pages 3852-3865 of the Public Records of Miami -Dade
County, Florida.
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ARPA LOAN ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT
This ARPA LOAN ASSIGNMENT, ASSUMPTION AND CONSENT AGREEMENT
(the "Agreement") is made effective as of the 31 st day of December, 2024, by and among the
CITY OF MTAMI, a municipal corporation of the State of Florida (the "City"), CASA
VALENTINA, INC, a Florida not for profit corporation with its chief executive office at 2103
Coral Way Miami, Florida 33145 (the "Assignor"), and DFI MUNDY LLC, a Florida limited
liability company with its chief executive office at 19 West Flagler Street, Suite 1001, Miami,
Florida 33130 (the "Assignee"). The City, Assignor, and Assignee may be individually referred to
as a "Party" or collectively as the "Parties."
WITNESSETH:
WHEREAS, the City has made that certain mortgage loan (the "ARPA City Loan") to
Assignor evidenced by that certain note dated on or about August 24, 2022, as amended and
restated by Amended and Restated Promissory Note dated October 13, 2022, in the original
principal amount of $2,000,000.00, which is currently held by the City and is secured by a
mortgage (the "ARPA Note"); and
WHEREAS, the ARPA City Loan is evidenced and secured by the agreements, documents
and instruments more particularly described on Exhibit "A," attached hereto and made a part hereof
(the ARPA City Loan and such agreements, instruments, and all other documents executed in
connection with the ARPA City Loan and as more particularly described on Exhibit "A," attached
hereto and made a part hereof, are hereinafter referred to collectively as the "ARPA Loan
Documents"); and
WHEREAS, Assignee and Assignor entered into a certain Purchase and Sale Agreement
dated as of May 6, 2024, as amended (the "Purchase Agreement"), pursuant to which Assignee
will acquire the properties as legally described in Exhibit "B" (the "Properties"), attached hereto
and made a part hereof (the "Sale Transaction"); and
WHEREAS, the City Commission adopted Resolution No. R-24-0472 on November 21,
2024, authorizing the assignment and assumption of the ARPA Loan Documents to Assignee; and
WHEREAS, in connection with the Sale Transaction, Assignor desires by this instrument
to assign all of its rights, interests and obligations under the ARPA Loan Documents to Assignee,
Assignee desires to assume all of Assignor's liabilities and obligations under the ARPA Loan
Documents, and the City desires to consent to such assignment and assumption and the Sale
Transaction, all upon the terms and conditions hereinafter set forth; and
WHEREAS, as of the date first written above, the remaining balance of ARPA Funds
available under the ARPA Loan Documents is Nine Hundred Forty -Three, Once Hundred Sixty -
Seven and 00/100 Dollars ($943,167.00); and
WHEREAS, Assignor and Assignee intend that the ARPA Loan Documents shall remain
in full force and effect, except as specifically modified herein.
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NOW, THEREFORE, in consideration of the mutual covenants, conditions, promises and
obligations of the parties, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:
1. Assignment of the ARPA Loan Documents. Assignor does hereby assign, transfer and
convey unto the Assignee all of Assignor's rights and interests in the ARPA Loan Documents and
does hereby assign, transfer and convey unto the Assignee all of Assignor's duties and obligations
under the ARPA Loan Documents, including, without limitation, Assignor's duties and obligations
to pay and perform under, and as set forth in, the ARPA Loan Documents.
2. Assumption of the ARPA Loan Documents. Assignee does hereby assume all of the duties
and obligations of Assignor set forth in the ARPA Loan Documents, including, without limitation,
Assignor's duties and obligations to pay and perfonui under, and as set forth in, the ARPA Loan
Documents. Assignee further agrees to abide by and be bound by all of the terms and conditions
of the ARPA Loan Documents, all as though each of the ARPA Loan Documents had been made,
executed and delivered by Assignee.
3. Consent. City hereby consents to the Sale Transaction and the assignment and assumption
of the ARPA Loan Documents as described above, and subject to the satisfaction of the Conditions
Precedent set forth below, and the full execution and delivery of this Agreement, agrees that the
same shall not, in and of itself, cause an event of default under any of the ARPA Loan Documents.
4. Amendments to the ARPA Loan Documents:
4.1. General Amendments to the ARPA Loan Documents
4.1.1. All references in the ARPA Loan Documents to "Casa Valentina, Inc., a Florida
not for profit corporation," shall be replaced with "DFI Mundy, LLC, a Florida
limited liability company."
4.1.2. All references in the ARPA Loan Documents to City of Miami Resolution No. R-
21-0427 adopted on October 14, 2021, shall be replaced with City of Miami
Resolution No. R-24-0472 adopted on November 21, 2024.
4.1.3. All references to the City of Miami Housing and Commercial Loan Committee
("HCLC") approval of January 26, 2022, shall be replaced with HCLC approval of
October 29, 2024.
4.1.4. Each of the ARPA Loan Documents is hereby further amended by modifying any
and all references to one another in order to refer to each other as amended by this
Agreement.
4.2. The ARPA Loan Agreement for Casa Valentina, Inc. ("Loan Agreement"), is amended in
the following particulars:
4.2.1. On page 1, the reference to ARPA ASSISTED UNITS is amended as follows:
ARPA ASSISTED UNITS: Eight (8) of the Affordable Units shall be ARPA Assisted
Units for eligible individuals; all eight (8) ARPA Assisted Units shall be allocated for
Low Income Households.
4.2.2. On page 2, the first recital is amended as follows:
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WHEREAS, the Project Sponsor is acquiring, in fee simple, of the real property
described in Exhibit "A." The Project Sponsor is the acquiring Property so that it
can construct a residential affordable housing project known as DFI Mundy (the
"Buildings"), that will increase the supply of rental housing units for Low Income
Households; and
4.2.3. On page 2, the second recital is deleted in its entirety.
4.2.4. Section 1.8 is amended as follows:
ARPA Assisted Units, or Assisted Units: Eight (8) of the Project's residential units
will be ARPA Assisted Units or Affordable Units for households/individuals. All
eight (8) Assisted Units shall be allocated for Low Income Households. The
payable rents on the ARPA Assisted Units are subject to the Covenant and the Rent
Regulatory Agreement. Further restrictions apply to the ARPA Assisted Units as
provided in this Agreement, the Covenant, the other ARPA Loan Documents and
the Legal Requirements, as applicable. The ARPA Assisted Units shall remain
Affordable throughout the Affordability Period.
4.2.5. Section 1.16 is amended as follows:
Project: The completed DFI Mundy rental housing development described as
follows: Borrower is acquiring the Property using ARPA Funds, by virtue of its
assumption of the ARPA Loan Documents. After the Property is purchased,
Borrower will use remaining ARPA Funds to construct two (2) four-plexes on the
Property, but in no event will the City disburse more that $2,000,000.00 in ARPA
Funds to Borrower. Acquisition of the aforementioned properties will allow the
Project Sponsor to develop an affordable housing rental development that will
contain eight (8) affordable units. The Buildings on the Property shall be
constructed in accordance with the Project Schedule/Scope of Work, attached
hereto and incorporated herein as Exhibit "B," that will provide affordable housing
opportunities in accordance with HUD income guidelines.
4.2.6. Section 2.1 is amended as follows:
Use of Funds. The ARPA Funds must be used in connection with the acquisition
of the real property located at 3173 Mundy Street Miami, FL 33133 and 3121
Mundy Street, Miami, FL 33133 and for associated hard construction costs, so that
Borrower can construct safe and affordable housing for Low Income Households.
Eight (8) of the Project's residential units will be ARPA Assisted Units for eligible
Low -Income Households for a period of thirty (30) years, commencing at the
Close -Out of the Project. Subject to the Parties amending the ARPA Loan
Documents to include and encumber the Additional Properties, the City will
disburse ARPA Funds, in compliance with the Disbursement Agreement and
ARPA, to the Borrower so Borrower can purchase a portion of the Additional
Properties.
4.2.7. Section 2.3C. is amended as follows:
Notwithstanding any provision herein to the contrary, in the event that the Project
Sponsor shall:
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(i) Meet all of its obligations hereunder and under all of the ARPA Loan
Documents executed in connection herewith;
(ii) Commence construction within eighteen (18) months from the Effective
Date of the ARPA Loan Assignment, Assumption and Consent Agreement;
(iii) Complete construction, as evidenced by the issuance of a certificate of
occupancy within twenty-four (24) months from the Effective Date of the ARPA
Loan Assignment, Assumption and Consent Agreement;
(iv) Have all ARPA Assisted Units rented within twelve (12) months from the
issuance of the Project's certificate of occupancy, but in not event later than thirty-
six (36) months from the Effective Date of the ARPA Loan Assignment,
Assumption and Consent Agreement;
(v) Throughout the Affordability Period, rent the ARPA Assisted Units to Low -
Income Households in accordance with the requirements of this Agreement, the
Rent Regulatory Agreement, the Covenant, and the other ARPA Loan Documents;
and
(vi) Throughout the Affordability Period, comply with all applicable ARPA
Requirements and all applicable, requirements hereof and in the other ARPA Loan
Documents;
then, in such event, the City may, in its sole and absolute discretion, cancel all
remaining indebtedness on the Loan, cancel the ARPA Note (and deliver, or cause
to be delivered, the cancelled original ARPA Note to the Project Sponsor), and
satisfy the Mortgage (and prepare and record a satisfaction of the Mortgage in the
Public Records of Miami -Dade County, Florida).
4.2.8. Section 5.6 is amended as follows:
Marketable Title. The Project Sponsor has good and marketable title to the
Property, subject only to: (a) the exceptions and other matters set forth in that
certain Title Insurance Commitment (Order Number Order Number 24121716)
issued by Old Republic National Title Insurance Company, effective as of
November 6, 2024 at 8:00 am, as endorsed. (collectively, the "Title Commitment
and Exceptions"); and (b) from time to time, the granting of utility and similar
easements on a non -material portion of the Property to utility and similar service
providers for the installation and maintenance of utility and similar service
equipment and components.
4.2.9. Section 6.1 is amended as follows:
6.1 Scope of Work. The Project Sponsor shall perform the Scope of Work as
set forth herein and on Exhibit "B" attached hereto.
Project Sponsor shall: (a) meet all of its obligations hereunder and under all of the
ARPA Loan Documents executed in connection herewith, (b) commence
construction within eighteen (18) months from the Effective Date of the ARPA
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Loan Assignment, Assumption and Consent Agreement, (c) Complete
construction, as evidenced by the issuance of a certificate of occupancy within
twenty-four (24) months from the Effective Date of the ARPA Loan Assignment,
Assumption and Consent Agreement, (d) have all ARPA Assisted Units rented
within twelve (12) months from the issuance of the Project's certificate of
occupancy, but in no event later than thirty-six (36) months from the Effective Date
of the ARPA Loan Assignment, Assumption and Consent Agreement, (e)
throughout the Affordability Period, rent the ARPA Assisted Units to Low -Income
Households in accordance with the requirements of this Agreement, the Rent
Regulatory Agreement, the Covenant, and the other ARPA Loan Documents; and
(f) throughout the Affordability Period, comply with all applicable ARPA
Requirements and all applicable requirements hereof and in the other ARPA Loan
Documents with regard to the ARPA Assisted Units.
The tenant's portion of rents charged for ARPA Assisted Units shall be limited as
set forth in the Rent Regulatory Agreement executed in connection herewith.
4.2.10. Section.12.8 is amended as follows:
Notices and Contact. All notices under this Agreement shall be in writing and
addressed as follows:
To City:
City of Miami
Department of Housing and
Community Development
One Flagler Building
14 Northeast 1st Avenue, Second Floor
Miami, Florida 33132
Attn: Victor Turner, Director
With Copy To: George K. Wysong III
City Attorney
City of Miami
444 S.W. 2nd Avenue
Miami, FL 33130-1910
To Project Sponsor:
DFI Mundy LLC
c/o Registered Agent
19790 W Dixie Hwy, PH 3
Miami, FL 33180
With Copy to: Haber Law, LLP
251 NW 23 Street
Miami, FL 33127
Attn: David Podein, Esq.
Email: DPODEIN@HABER.LAW
Website: WWW.HABER.LAW
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Except as otherwise provided in this Agreement, notice shall be deemed given upon
hand delivery or five (5) business days after depositing the same with the U.S.
Postal Service. The address or designated representative of the parties may be
changed by notice given in accordance with this section.
The Project Sponsor shall at any time and from time to time upon the request of the
City, at Project Sponsor's sole cost and expense, execute, acknowledge and deliver
such further notices and other documents and perform such other acts as may, in
the opinion of the City, be necessary, desirable or proper to carry out more
effectively the purposes of this Agreement and the other ARPA Loan Documents.
4.2.11. Exhibit "B" Scope of Work /Project Schedule is replaced with the Amended Exhibit
"B" Scope of Work /Project Schedule attached and incorporated in this Agreement as
"Attachment 1."
4.2.12. Exhibit "C" Budget is replaced with the Amended Exhibit "C" Budget attached and
incorporated in this Agreement as "Attachment 2."
4.2.13. Schedule "A" Permitted Senior Financing is amended to include the following
Permitted Senior Financing:
Non -Revolving Construction Line of Credit ("NRCLOC") from Intercreditor Bank,
N.A., national association, to Borrower in the estimated amount of $1,505,368.00, or
other fmancing on reasonable commercial terms from another senior lender or HUD
("Senior Lender"), evidenced by a Promissory Note and secured by a Mortgage both
from Borrower in favor of Senior Lender.
4.3. The Amended and Restated Mortgage and Security Agreement is amended by the Second
Amended and Restated Mortgage and Security Agreement.
4.4. The Amended and Restated Promissory Note (American Rescue Plan Act of 2021
"ARPA" Funds) for Casa Valentina, Inc. is amended by the Second Amended and
Restated Promissory Note (American Rescue Plan Act of 2021 "ARPA" Funds) for DFI
Mundy.
4.5. The Rent Regulatory Agreement for Casa Valentina is amended by the Amended and
Restated Rent Regulatory Agreement for DFI Mundy.
4.6. Except for the amendments made in this Agreement, the Disbursement Agreement
remains unmodified.
4.7. The Declaration of Restrictive Covenants for Casa Valentina is amended by the Amended
and Declaration of Restrictive Covenants for DFI Mundy.
4.8. The Assignor and Assignee agree to execute, deliver, and, if necessary, record any
additional agreements, instruments, or other documents necessary in furtherance of this
Agreement or as may be required by the City.
5. Conditions Precedent. As conditions precedent to this Agreement and to the City's
agreements contained herein and its performance of its obligations hereunder, Assignor and
Assignee agree that each of the following items will be completed and/or conditions satisfied and
agree to deliver each of the following items to the City, no later than the time of their collective
execution of this Agreement, each of which must be satisfactory in form and content to the City in
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its sole discretion and each of which is a condition precedent to this Agreement (the "Conditions
Precedent"):
5.1. No Event of Default. Assignor shall not have received any written notice from the City
alleging any default, nor shall any condition exist that with the passage of time, giving of
notice, or both, would become a default, under the ARPA Loan Documents, which will
not be cured by the respective parties' execution and delivery of this Agreement. As of the
date first written above, none of the parties have issued or received any notices of default
from any party to this Agreement as it relates to this Project, the original ARPA Loan
Documents, or any other agreements, documents, or instruments relating to this Project.
5.2. Assignor's Performance; Representations, Warranties and Covenants. Assignor and
Assignee shall have timely and fully performed each of their respective agreements and
obligations contained herein and in the ARPA Loan Documents as modified by this
Agreement, and all of the representations, warranties, covenants and conditions contained
herein and in the ARPA Loan Documents shall be and remain true and correct in all
material respects (except for representations and warranties which relate solely to an
earlier date, time or circumstance) or shall have been completed to the City's satisfaction,
as same are modified by this Agreement.
5.3. Completion of Sale Transaction. Assignor and Assignee shall have completed the Sale
Transaction, and Assignee shall have subsequently acquired good, marketable and
insurable title to the real property described in the deed and the other assets of Assignor
described in the Purchase Agreement, each entered into in connection with the Sale
Transaction and subject to the liens of the ARPA Loan Documents.
5.4. Payment of Costs, Fees, etc. Assignee shall pay and/or reimburse the City for all costs
and expenses incurred or suffered by the City in connection with this Agreement,
including, without limitation, recording costs, attorneys' fees, and fees of other
professionals, if applicable, or otherwise applicable to the transactions which are the
subject hereof, including, without limitation, applicable documentary stamp tax.
5.5. Further Action. Assignor and Assignee shall take such other action and deliver such other
documentation, as is reasonably required by the City under this Agreement.
6. Assignor's and Assignee's Representations. As a condition of the City's consent to the Sale
Transaction and the assignment and assumption of the ARPA Loan Documents, the Assignor and
Assignee each represent and warrant to the City as to themselves but not the other that the
following representations are true on the date hereof and will remain true during the term of this
Agreement:
6.1. Setoff, etc. No such party has any claim or counterclaim against the City under, right of
setoff against or defense to the enforcement of the ARPA Loan Documents.
6.2. No Violation. The consummation of the Sale Transaction and/or the execution, delivery
and performance of this Agreement, and the consummation of the transactions
contemplated herein do not and will not violate the organizational documents of Assignor
or Assignee, as applicable, or any applicable law or constitute an event of default under
any material contractual obligation of Assignor or Assignee.
6.3. Authority. Assignor and Assignee each have the power, authority and the legal right to
make, deliver and perform their respective obligations under this Agreement and the
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ARPA Loan Documents, and have each taken any and all action to authorize this
Agreement, and as to Assignee, to authorize the performance of the ARPA Loan
Documents to which it is a party and to pledge its property as contemplated by this
Agreement and the ARPA Loan Documents. This Agreement has been duly executed and
delivered by Assignor and Assignee, and constitutes the legal, valid and binding
obligation of each and all of such parties, enforceable in accordance with its terms and not
subject to rescission, invalidation, nullification or other avoidance. There are no actions,
suits or proceedings pending or to the best of Assignor's or Assignee's knowledge,
threatened against or affecting any of the assets of Assignor or Assignee or which, if
adversely decided, would adversely affect Assignor's or Assignee's ability to perform its
obligations under the ARPA Loan Documents, or involving the validity of or
enforceability of this Agreement or any of the ARPA Loan Documents or any of the other
instruments, documents, or agreements described herein, or as modified and amended
hereby, or the priority of any lien thereof, in any court, at law, or in equity, or before any
administrative agencies or other governmental authority, except for those set out in the
ARPA Loan Documents.
6.4. Opportunity to Review. Assignee and Assignor have received copies of, and have been
afforded ample opportunity to review, all of the ARPA Loan Documents. Assignee and
Assignor have also been afforded ample opportunity to seek the advice of independent
legal counsel prior to the execution of this Agreement and any other agreements,
instruments, or documents required by or in furtherance of this Agreement.
6.5. Financial Information. All fmancial information and other information provided to the
City by Assignee was true and correct as of the date provided to the City and remains true
and correct in all material respects as of the date of this Agreement.
6.6. Representations and Warranties in ARPA Loan Documents. Assignee's representations
and warranties contained in the ARPA Loan Documents are true and correct in all material
respects as of the date hereof, with the same effect as though such representations and
warranties had been made on and as of such date (except representations and warranties
which relate solely to an earlier date), subject to the qualification that any representations
and warranties are subject to the amendments set forth in this Agreement.
6.7. Solvency. There is not now pending against Assignor or Assignee any petition for relief,
whether voluntary or otherwise, any assignment for the benefit of creditors, any petition
seeking reorganization or arrangements under the federal bankruptcy laws of the United
States or the laws of any state thereof, nor has any other action been brought against
Assignor or Assignee under the aforesaid bankruptcy laws or other laws. The conveyance
of the Properties in connection with the Sale Transaction by the Assignor to the Assignee
is made for valuable consideration and is not made to avoid debt or defraud existing
creditors of any parties hereto. After giving effect to the ARPA City Loan described in
the ARPA Loan Documents and this Agreement, and to the conveyance of the Properties
in connection with the Sale Transaction by the Assignor to the Assignee, Assignor and
Assignee will each have assets having a fair market value in excess of the amount required
to timely pay its respective, liabilities on existing debts as they become due in the ordinary
course of business, and each has, and will have, access to adequate capital for the conduct
of its business and the timely payment of its debts from time to time incurred in connection
therewith as such debts mature.
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6.8. Taxes. All Assignor's and Assignee's taxes are current, and all returns will be filed by the
appropriate due dates.
6.9. Foreign Person. Neither Assignee nor Assignor is a "foreign person" within the meaning
of Section 1445 or 7701 of the Internal Revenue Code of 1986, as amended, and the rules
and regulations issued thereunder as from time to time in effect (the "Code").
6.10. Foreign Assets Control Regulations. Assignee and its affiliates are and will remain
in compliance in all respects with all U.S. economic sanctions laws, Executive Orders and
implementing regulations as promulgated by the U.S. Treasury Department's Office of
Foreign Assets Control ("OFAC"), and all regulations issued pursuant to it. Neither
Assignee nor any affiliate of Assignee (i) is a person or entity designated by the U.S.
government on the list of the Specially Designated Nationals and Blocked Persons (the
"SDN List") with which a U.S. person or entity cannot deal with or otherwise engage in
business transactions, (ii) is a person or entity who is otherwise the target of U.S. economic
sanctions laws such that a U.S. person or entity cannot deal or otherwise engage in
business transactions with such person or entity, or (iii) is controlled by or under common
control with (including without limitation by virtue of such person being a director or
owning voting shares or interests), or acts, directly or indirectly, for or on behalf of, any
person or entity on the SDN List or a foreign government that is the target of U.S.
economic sanctions prohibitions such that the entry into, or performance under, this
Agreement or any other Loan Document would be prohibited under U.S. law.
6.11. Anti -Terrorism Law. Assignee and its affiliates are in compliance with (i) the
Trading with the Enemy Act, and each of the foreign assets control regulations of the
United States Treasury Department and any other enabling legislation or executive order
relating thereto, and (ii) the Patriot Act (as defined in Section 10(a) below). No part of
the proceeds of the ARPA City Loans will be used directly or indirectly for any payments
to any government official or employee, political party, official of a political party,
candidate for political office, or anyone else acting in an official capacity, in order to
obtain, retain or direct business or obtain any improper advantage, in violation of the
United States Foreign Corrupt Practices Act of 1977.
6.12. Records Retention. The Assignee shall be not be liable or responsible for any
violations of Section 6.3 of the Loan Agreement, for Contract Records for which Assignee
is the custodian, or any other records retention requirements prior to the date first written
above.
The Assignor shall be not be liable or responsible for any violations of Section 6.3 of the
Loan Agreement, for Contract Records for which Assignee is the custodian, or any other
records retention requirements after the date first written above. However, Assignor shall
maintain all records required to be retained during its performance of the Loan Agreement
or transfer said records to the City.
7. Modifications in General.
7.1. General. All the ARPA Loan Documents shall be and are hereby modified and amended
to reflect the terms of this Agreement.
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7.2. No Conflicts. It is the intention of the parties that this Agreement and the ARPA Loan
Documents be interpreted in a consistent manner; provided, however, in the event of any
• irreconcilable conflict in the provisions of this Agreement and the provisions of any of the
ARPA Loan Documents, the provisions of this Agreement shall control.
7.3. Full Force and Effect. Except as modified herein, the ARPA Loan Documents are hereby
affirmed and reaffirmed and remain unchanged and in full force and effect. The Assignee
does hereby ratify, confirm, affirm and reaffirm the ARPA Loan Documents, as modified
and amended hereby. The terms of the ARPA Loan Documents are hereby incorporated
into this Agreement and modified and amended as stated herein.
8. Priority/Modification. This Agreement may be presented as evidence of the obligation of
Assignee to repay the indebtedness evidenced by the ARPA Loan Documents. Notwithstanding
the foregoing, it is expressly understood and agreed that: (i) this Agreement is a modification of
the ARPA Loan Documents and not a novation; (ii) except as expressly modified hereby, the
ARPA Loan Documents shall remain in full force and effect and this Agreement shall have no
effect on the priority or validity of the liens set forth in the ARPA Loan Documents nor impair any
security now held for the indebtedness evidenced by the ARPA Loan Documents, nor waive,
annul, vary or affect any provision, condition, covenant or agreement contained in any of the
ARPA Loan Documents, except as may be specifically modified herein, nor affect or impair any
of City's rights, powers or remedies under the ARPA Loan Documents; and (iii) except as stated
herein, the City expressly reserves all rights as to recourse on the ARPA Loan Documents. Nothing
set forth herein shall affect the priority or extent of the lien of any of the ARPA Loan Documents,
nor, except as expressly set forth herein, release or change the liability of any party who may now
be or after the date of this Agreement become liable, primarily or secondarily, under the ARPA
Loan Documents.
9. Complete Release of City. Assignor and Assignee, jointly and severally, unconditionally
and irrevocably release and forever discharge the City, its Board of City Commissioners, its
successors, assigns, agents, employees and attorneys (collectively, the "Indemnitees") from all
Claims, as defined below, and jointly and severally agree to indemnify Indemnitees and hold them
harmless from any and all claims, losses, causes of action, costs and expenses of every kind or
character in connection with the Claims or the transfer of the property pursuant to the Sale
Transaction. As used in this Agreement, the term "Claims" shall mean any and all possible claims,
demands, actions, costs, expenses and liabilities whatsoever, known or unknown, at law or in
equity, originating in whole or in part, on or before the date of this Agreement, which the Assignor
and Assignee, or any of the respective partners, members, managers, officers, directors, agents or
employees, may now or hereafter have against the Indemnitees, if any, and irrespective of whether
any such Claims arise out of contract, tort, violation of laws or regulations, or otherwise in
connection with any of the ARPA Loan Documents, including, without limitation, any contracting
for, charging, taking, reserving, collecting or receiving interest in excess of the highest lawful rate
applicable thereto and any loss, cost or damage, of any kind or character, arising out of or in any
way connected with or in any way resulting from the acts, actions or omissions of Indemnitees.
Assignor and Assignee agree that the City has no fiduciary or similar obligations to Assignor or
Assignee and that their relationship is strictly that of creditor and debtor. This release is accepted
by the City pursuant to this Agreement and shall not be construed as an admission of liability on
the part of the City. Notwithstanding anything contained herein to the contrary, this Section 9
shall not apply to claims arising from the City's gross negligence or willful misconduct.
MIADOCS 29141135 4
10. Assignor Release. As of the effective date of this Agreement, Assignor is and shall be
forever released from any and all liabilities for payment of the indebtedness and all other
obligations evidenced or secured by the ARPA Loan Documents.
11. Outstanding Principal Balance. The City acknowledges that the current outstanding
principal balance of the Note is $1,056,833.00 of the $2,000,000.00 awarded. The City
acknowledges that remaining available funds for hard constructions costs is $943,167.00.
12. Recordation. The recording of this Agreement in the Public Records of Miami -Dade
County, and such other documents as may be necessary or advisable to consummate the transaction
contemplated hereby, shall evidence the Closing of the transaction described herein ("Closing").
13. Miscellaneous.
13.1. Patriot Act Notice. The City hereby notifies Assignee that pursuant to the
requirements of the USA PATRIOT Act ("Patriot Act"), it is required to obtain, verify
and record information that identifies Assignee, which information includes the name and
address of Assignee and other information that will allow the City to identify Assignee in
accordance with the Patriot Act. Assignee agrees to, promptly following a request by the
City, provide all such other documentation and information that the City requests in order
to comply with its ongoing obligations under the Patriot Act.
13.2. Governing Law; Venue: and Attorneys' Fees. This Agreement shall be construed
and enforced pursuant to the laws of the State of Florida, excluding all principles of choice
of laws, conflict of laws and comity. Any action pursuant to a dispute under this
Agreement must be brought in a court of competent jurisdiction in Miami -Dade County
and no other venue. All meetings to resolve said dispute, including voluntary arbitration,
mediation, or other alternative dispute resolution mechanism, will take place in this venue.
The Parties both waive any defense that venue in Miami -Dade County is not convenient.
In the event litigation, arbitration, or mediation, between the Parties hereto, arises out of
the terms of this Agreement, each Party shall be responsible for its own attorney's fees,
costs, charges, and expenses through the conclusion of all appellate proceedings, and
including any final settlement or judgment.
13.3. Invalidity. If any provision of this Agreement is adjudicated to be invalid, illegal
or unenforceable, in whole or in part, it will be deemed omitted to that extent and all other
provisions of this Agreement will remain in full force and effect.
13.4. Modifications in Writing. No amendment, change, or modification of this
Agreement shall be valid unless the same is in writing, signed by all parties hereto, and, if
applicable, recorded in the public records of Miami -Dade County.
13.5. Captions. The captions contained in this Agreement are for convenience of
reference only and in no event define, describe or limit the scope or intent of this
Agreement or any of the provisions or terms hereof.
13.6. Binding Effect. This Agreement shall be binding upon and inure to the benefit of
the Parties and their respective heirs, legal representatives, successors and assigns,
provided, however, that neither Assignor nor Assignee shall assign this Agreement, any of
the ARPA Loan Documents, or any of their respective rights, interests, duties or obligations
hereunder or thereunder in whole or in part without the prior written consent of the City,
which may be withheld in the City's sole discretion, and that any such assignment (whether
MIADOCS 29141135 4
voluntary or by operation of law) without said consent shall be void. This Agreement shall
not be amended, changed, or modified except in writing pursuant to Section 13.4 of this
Agreement.
13.7. Counterparts. This Agreement 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 Agreement. The Parties shall be entitled to sign
and transmit an electronic signature of this Agreement (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 Agreement upon request.
13.8. Waiver. Neither this Agreement nor any provision hereof may be waived,
modified, amended, discharged, or terminated except by an instrument in writing signed
by the Party against which the enforcement of such waiver, modification, amendment,
discharge or termination is sought, and then only to the extent set forth in such instrument.
13.9. Entire Agreement. This Agreement and the ARPA Loan Documents, as amended,
represent the final agreement between the Parties and may not be contradicted by evidence
or prior, contemporaneous or subsequent oral agreements. There are no unwritten
agreements between the Parties.
13.10. Costs and Expenses. Assignee shall pay to the City at the time of execution of this
Agreement or on demand any and all costs and expenses incurred in entering into this
Agreement, including, without limitation, legal expenses and attorney's fees, and
recordation fees incurred by the City in connection with this Agreement.
13.11. Anti -Human Trafficking. The Assignee confirms and certifies that it is not in
violation of Section 787.06, Florida Statutes, and that it does not and shall not use
"coercion" for labor or services as defined in Section 787.06, Florida Statutes. The
Assignee shall execute and submit to the CITY an Affidavit, of even date herewith, in
compliance with Section 787.06(13), Florida Statutes, attached an incorporated herein as
Exhibit "C." If the Assignee fails to comply with the terms of this Section, the CITY may
suspend or terminate this Agreement immediately, without prior notice, and in no event
shall the CITY be liable to Assignee for any additional compensation or for any
consequential or incidental damages.
The Assignor confirms and certifies that it is not in violation of Section 787.06, Florida
Statutes, and that it does not and shall not use "coercion" for labor or services as defined
in Section 787.06, Florida Statutes. The Assignor shall execute and submit to the CITY
an Affidavit, of even date herewith, in compliance with Section 787.06(13), Florida
Statutes, attached an incorporated herein as Exhibit "D." If the Assignor fails to comply
with the terms of this Section, the CITY may suspend or terminate this Agreement
immediately, without prior notice, and in no event shall the CITY be liable to Assignor
for any additional compensation or for any consequential or incidental damages.
MIADOCS 29141135 4
[Signature Page Follows]
[Remainder of page intentionally left blank]
MIADOCS 29141135 4
IN WITNESS WHEREOF, the parties have executed this Loan Assignment, Assumption
and Consent Agreement by their duly authorized representatives on the day and year first written
above.
ATTEST:
Todd 01111.
City lerk
Date:
APPROVED
REQUI
Ann -Marie
Director of
rpe
k Management
CE
APPROVED AS TO
DEPARTMENTAL REQUIREMENTS:
By:
Victor T. Turner
Director of the Department of Housing and
Community Development
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
CITY:
CITY OF MIAMI,
a municipal corporation of the State of Florida
By: C'2/ �(Gia...+` s (oe had o,L
Arthur Noriega V
City Manager
APPROVED AS TO FORM AND
CORRECTNESS:
or e K. Wysong III
City Attorney XL
a? 3"aS'IG
ACKNOWLEDGMENT
The foregoing instrument was acknowledged before me
notarization, this 30 day of December, 2024 t.r itAenegi
Florida municipal corporation.3Ie is son era y known
identification.
by means of D iysical presence or El online
ity'Manager of City of Miami, a
to me or hasJproduced
,,,, „............................., ed/(11) Ad /-'a V
ile��ti.. EDITH MCCRAY
Print''
Notary Public - State of Florida
I'd • ifs Commission # HH 471900
Tor r` My Comm. Expires Dec 10, 2027
Bonded through National Notary Assn. ` Notary Public, State of Florida at large
Apullow
as
MIADOCS 29141135 4
WITNESSES
Print Name: ,1474 gra 6-cer/g/eieEZ
Print Name: b-edO✓� 4 . tsioiI70
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
ASSIGNOR:
CASA VALENTINA, INC, a
Florida not for profit corporation
ACKNOWLEDGEMENT
Janice Graham, as Executive Director
The foregoing instrument was acknowledged before me by means of l3A"physical presence or O online notarization, this ,2%day of
December, 2024 by Janice Graham, as Executive Director of Casa Valentina, Inc., a Florida not -for -profit corporation. She is personally
known to me or has produced FL DJ�•teio iiceutas identification.
(NOTARY PUBLIC SEAL)
MIADOCS 29141135 4
Signa u e of Person Taking Acknowle
(Printed, Typed, or Stamped Name of Notary Public)
Title or Rank
20�;gY P6ei%, MARTAGUTIERREZ
* =t * Commission # HH 304028
90F F_0Qo Expires September 15,2026
(Signature Page) Loan Assignment, Assumption
and Consent Agreement
WITNESSE
Print Name:
Print Name: .rz% yeieR i-
PROJECT SPONSOR'S ADDRESS:
DFI MUNDY, LLC
19 West Flagler Street
Suite 1001
Miami, FL 33130
Attention: Irving Weisselberger
STATE OF FLORIDA
}
COUNTY OF MIAMI-DADE } SS:
ASSIGNEE:
DFI MUNDY, LLC,
liability company
BY: DRAGONFLY
LLC, a Florida
company, its manager
a Florida limited
INVESTMENTS,
limited liability
Irving Weisselberger Title: Manager
ACKNOWLEDGMENT
The foregoing instrument was acknowledged before me by means of ®'physical presence or O online
notarization, this `day of December, 2024 by Irving Weisselberger as Manager of Dragonfly
Investments, LLC, a Florida limited liability company, the manager of DFI Mundy, LLC, a Florida limited
liability company. He is personally known to me or has produced as identification.
(NOTARY PUBLIC SEAL)
JULIE QUITTNER
Commission #HH181787
My Commission Expires
October 5, 2025
Number, if any
MIADOCS 29141135 4
nature of Person Taking
Acknowledgment
(Printed, Typed, or Stamped Name of Notary
Public)
Serial
(Signature Page) Loan Assignment, Assumption
and Consent Agreement
EXHIBIT "A"
ARPA LOAN DOCUMENTS
1. ARPA LOAN AGREEMENT FOR CASA VALENTINA, INC., dated on or about September 6,
2022.
2. PROMISSORY NOTE (AMERICAN RESCUE PLAN ACT OF 2021 "ARPA" FUNDS) FOR
CASA VALENTINA, INC., dated on or about September 6, 2022.
3. MORTGAGE AND SECURITY AGREEMENT FOR CASA VALENTINA, INC., dated
September 6, 2022, and recorded on September 7, 2022, in Official Records Book 33372, Pages
2286-2299 of the Public Records of Miami -Dade County, Florida.
4. DECLARATION OF RESTRICTIVE COVENANTS FOR CASA VALENTINA, dated
September 6, 2022, and recorded on September 7, 2022, in Official Records Book 33372, Pages
2300-2306 of the Public Records of Miami -Dade County, Florida.
5. RENT REGULATORY AGREEMENT FOR CASA VALENTINA, dated September 6, 2022,
and recorded on September 7, 2022, in Official Records Book 33372, Pages 2307-2315 of the
Public Records of Miami -Dade County, Florida.
6. DISBURSEMENT AGREEMENT FOR CASA VALENTINA, INC., dated on or about
September 6, 2022.
7. AMENDMENT NO.1 TO THE CASA VALENTINA LOAN DOCUMENTS, dated October 13,
2022, and recorded on October 17, 2022, in Official Records Book 33425, Pages 3866-3881 of
the Public Records of Miami -Dade County, Florida.
8. AMENDED AND RESTATED MORTGAGE AND SECURITY AGREEMENT FOR CASA
VALENTINA, INC., dated October 13, 2022, and recorded on October 17, 2022, in Official
Records Book 33425, Pages 3852-3865 of the Public Records of Miami -Dade County, Florida.
9. AMENDED AND RESTATED PROMISSORY NOTE (AMERICAN RESCUE PLAN ACT OF
2021 "ARPA" FUNDS) FOR CASA VALENTINA, INC., dated October 13, 2022.
18
MIADOCS 29141135 4
EXHIBIT "B"
LEGAL DESCRIPTION OF THE PROPERTIES
Legal Description of 3121 Mundy Street, Miami, FL 33133:
Lot 12, of CHARLES M. MUNDY SUBDIVISION, according to the Plat thereof,
as recorded in Plat Book 15, at Page 29, of the Public Records of Miami -Dade
County, Florida.
Legal Description of 3173 Mundy Street, Miami, FL 33133:
Lot 5, of Charles M. Muncy, a subdivision, according to the Plat thereof, as
recorded in Plat Book 15, Page 29, of the Public Records of Miami -Dade County,
Florida.
19
MIADOCS 29141135 4
EXHIBIT "C"
ANTI -HUMAN TRAFFICKING AFFIDAVIT
(ASSIGNEE)
1. The undersigned affirms, certifies, attests, and stipulates as follows:
a. The entity/individual is a nongovernmental entity authorized to transact business
in the State of Florida (hereinafter, "nongovernmental entity").
b. The nongovernmental entity is either executing, renewing, or extending a contract
(including, but not limited to, any amendments, as applicable) with the City of
Miami ("City") or one of its agencies, authorities, boards, trusts, or other City
entity which constitutes a governmental entity as defined in Section 287.138(1),
Florida Statutes (2024).
c. The nongovernmental entity is not in violation of Section 787.06, Florida Statutes
(2024), titled "Human Trafficking."
d. The nongovernmental entity does not use "coercion" for labor or services as
defined in Section 787.06, Florida Statutes (2024).
2. Under penalties of perjury, pursuant to Section 92.525, Florida Statutes, I declare the
following:
a. I have read and understand the foregoing Anti -Human Trafficking Affidavit and
that the facts, statements and representations provided in Section 1 are true and
correct.
b. I am an officer, a representative, or individual of the nongovernmental entity
authorized to execute this Anti -Human Trafficking Affidavit.
FURTHER AFFIANT SAYETH NAUGHT.
Nongovernmental ntlty/In Idual:
Name: lire+"
Signature:
Office
Title:
��
A /i I ArAAw
Z. )1/3/
Email Address: Attk, ? Da. j® j/ te. -Main Phone Number: 36 $
20
MIADOCS 29141135 4
EXHIBIT "D"
ANTI -HUMAN TRAFFICKING AFFIDAVIT
(ASSIGNOR)
1. The undersigned affirms, certifies, attests, and stipulates as follows:
a. The entity/individual is a nongovernmental entity authorized to transact business
in the State of Florida (hereinafter, "nongovernmental entity").
b. The nongovernmental entity is either executing, renewing, or extending a contract
(including, but not limited to, any amendments, as applicable) with the City of
Miami ("City") or one of its agencies, authorities, boards, trusts, or other City
entity which constitutes a governmental entity as defined in Section 287.138(1),
Florida Statutes (2024).
c. The nongovernmental entity is not in violation of Section 787.06, Florida Statutes
(2024), titled "Human Trafficking."
d. The nongovernmental entity does not use "coercion" for labor or services as
defined in Section 787.06, Florida Statutes (2024).
2. Under penalties of perjury, pursuant to Section 92.525, Florida Statutes, I declare the
following:
a. I have read and understand the foregoing Anti -Human Trafficking Affidavit and
that the facts, statements and representations provided in Section 1 are true and
correct.
b. I am an officer, a representative, or individual of the nongovernmental entity
authorized to execute this Anti -Human Trafficking Affidavit.
FURTHER AFFIANT SAYETH NAUGHT.
Nongove ental Entity/Individual: Ca s �' `f Q'' \r-e-�-�-.�' 'l ) I c
Name: cn- .cr _ ram. G K
r" Title: e�u.-%ve .�ktecA-D.
Signature: -- -
Office Address: 2 to 3 Co-rec.‘ 1jVG4.-A
'
VA%oven, ,-;:E • 3S1`i<-
Email Address ( reCcca ce..ke4\ Main Phone Number:
• orj
IDS- 014 4 - 01 40
21
MIADOCS 29141135 4
Attachment 1
Amended Exhibit "B" Scope of Work /Project Schedule
DRAGONFLY
--,NVESTMENTS
THE VISION: DFI Mundy Affordable Housing Development
DFI Mundy Affordable Housing Development will have 8 units, on two separate lots located at 3121 and
3173 Mundy Street in Coconut Grove, FL. Each four-plexwill host 3-bedroom, 2-bathroom units in order
to give families a better life. The units will feature in -unit washers and dryers, a feature not often found
in smaller, affordable developments. By using durable materials, and some clever design styles to
reduce maintenance costs in the future, the units will be easy to operate and maintain for years to
come.
3173 Mundy Street currently has a coral rock house, built in 1926. Due to historic preservation practices
that aim to preserve this type of Florida vernacular, the house cannot be demolished. The project will
repurpose the 813-square-foot home as a lobby for the four affordable units. The peaked roofline of the
existing cottage will be mirrored by the addition in order to maintain a symmetry of style and scale. The
coral rock vernacular will also inform the style of the addition; a Florida vernacular wood frame cottage
style will be applied in order to blend the old with the new seamlessly.
3121 Mundy Street is currently a vacant lot. The Florida vernacular wood frame cottage style will also
be applied to the new construction of the units in order to deliver harmony from a visual perspective on
the street. This style will also blend in with the existing neighboring buildings so that the style and scale
work together as people pass by, so that neither of the new buildings will be visually jarring.
The DFI Mundy Affordable Housing Development came to light when it became apparent that the
previous applicant, Casa Valentina, could not perform its development duties as agreed and funded by
the City of Miami through the ARPA and CDGB programs. This project, white seeing a reduction in
affordable housing units (Casa Valentina promised to deliver 50 units previously), is in everyone's best
interest; Casa Valentina will be released from a project it could not deliver, the City will not have to take
back the properties, and the community will get 8 new 3-bedroom units which is a unit size needed in
the Grove.
Page ( 2
22
MIADOCS 29141135 4
Project Schedule
3131 Mundy St Schedule
Jan 6, 2025 - March 17, 2025
March 17, 2025 - January 7, 2026
Jan 15, 2026 - March 15, 2026
December 1, 2025 - Jan 15, 2026
4/1/2026
10 Weeks Design / Construction Documents /Apply for Permit
10 Months Module Building in Factory
Site Work / Foundation
8 Week Install
CO
3173 Mundy St Schedule
Jan 6, 2025 - March 17, 2025 10 Weeks Design / Construction Documents / Apply for Permit
March 17, 2025 - January 7, 2026 10 Months permitting
Jan 15, 2026 - September 15, 2026 Site Work / Foundation
December 1, 2025 - Jan 15, 2026 9 Month Construction Period
10/1/2026
CO
[Remainder of page intentionally left blank]
MIADOCS 29141135 4
23
Attachment 2
Amended Exhibit "C" Budget
Development Budget:
Land S440,846
Hard Cost S2,409,342
Soft Cost S368,914
Developer Fee S116.082
Total Development Cost S3,335,184
City of Mimi - Department at Community D.»tapment
COST ALLOCATION REPORT
FIMnein0 Zooms' 20.otfy Marne
Trial Project
56
02
MFE Funds
ARPA
BAMK LOAN
Other.
Equgy
Investment
Land Aoitulcnlon
;440816
13.129.
;44C.ti46
Hand Cods
;53633.5
;1217,945
;0
Construction and. 3!hvortl
11,794,..3
'_: 63%
.^.ansav✓Sar emergency
8312,762
939%
;121811
$191,1E1
Consbucuarc CanaelNBoll Test
$11,500
034%
;7,281
$3,839
Aiolances
432,OD0
0 96%
;32L130
Oonstrucion 3upernsion
898.802
896%
;219.946
;78,954
Total Hari Cock
32,405,342
..2=.:1.
-
id
S790,142
t1,3s8,660
*5
8273,644
log
$16,000
;10,937
85,063
Arch Design, Civil En0►3einn0
0.49%
impact a School Fees
O01%
i0
;0
Ptsmtis, Fees
;ZI.850
093%
$14.42
88,590
Legal
515,000
0451.
10
;15,000
90
Licenses , EnWorinental f U01 Fees
$15,803
0 _ 9%
8'3.53s
36,256
Aaornsali Surveys
$2,800
009%
$1,914
;906
Inorarse: Constriction Period
452,643
190%
821,180
831,660
Marte5ng 1 Advertising
001%
80
;0
Wan Closing i=P.aricho Fees
i16,500
04?%
;112 9
65.221
interest l Carrying Casts
;169�3
5.091.
;502D1
6119,152
Tine insureme & Reaming
;10,030
C32%
86,635
63,165
Tam
524,712
0.74%
916,693
47,821
Construdioc Acctg
12,400
007%
;2,400
for Use by City: Gryincuned comb
812A00
032%
89,154
;946
;0
H0
Devetootfo Fees a Overhead
;116062
3.49%
$116,022
3o11 Cost Contingency
20,657
0264
88,657
Total ;on Coots
ital4 55
14_4c%
-
;0,164
*t47,026
8108,812
15
H153,006
Total Pr13j501 Cost
53,336,114
10003%
-
5460,001
0043,147
81,406,345
35
;439,040
Pervert of City Furling io TDC
Total Units
aliaribar of City Unite
Parotid of City Un11c to Total Unit
City &obeldy Per Aaaiited Unit
41.77%
0
0
1001i
Total tonere Footage
10,a"b"O
Total Cost per 31F
$315.03
Total LMable Ana
10,560
Total Livable Area of City ACGI*CM Units
10,560
Parotid of City Ana to Total
10016
a 5 3u3
MIADOCS 29141135 4
24