HomeMy WebLinkAbout25640AGREEMENT INFORMATION
AGREEMENT NUMBER
25640
NAME/TYPE OF AGREEMENT
COLLABORATIVE DEVELOPMENT CORPORATION
DESCRIPTION
DISBURSEMENT AGREEMENT FOR 3710 GROVE
LANDING/FILE ID: 16848/R-25-0064/MATTER ID: 24-2915K
EFFECTIVE DATE
June 26, 2025
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
6/26/2025
DATE RECEIVED FROM ISSUING
DEPT.
7/1/2025
NOTE
a5,40
DISBURSEMENT AGREEMENT FOR
3710 GROVE LANDING
This Disbursement Agreement for Miami For Everyone ("MFE") funds ("Agreement") is
made as of this Re" day of 7un e , 2025 by and between COLLABORATIVE
DEVELOPMENT CORPORATION, Florida not -for -profit corporation (hereinafter the
"Project Sponsor"), and the CITY OF MIAMI, a municipal corporation of the State of Florida
(hereinafter the "City").
RECITALS
WHEREAS, the Project Sponsor is acquiring the real properties described in Exhibit "A"
(collectively, the "Property"), and constructing a seventy (70) unit mixed use rental and
condominium project to be known as 3710 Grove Landing (the "Project"). The Project will
increase the supply of Affordable housing units for Low Income Households and Workforce
Income Households by providing additional Affordable rental units and homeownership housing
units in the community; and
WHEREAS, on February 27, 2025, the City Commission adopted Resolution No. R-25-
0064 approved the allocation of Miami For Everyone Program ("MFE") funds, in accordance with
the terms and conditions of the City's Housing and Commercial Loan Committee ("HCLC")
Memo, in the amount of Seven Million Two Hundred Thousand and 00/100 Dollars
($7,200,000.00) for the acquisition of the Property; and
WHEREAS, on March 26, 2025, the HCLC approved the allocation of the MFE Funds in
the amount of Seven Million Two Hundred Thousand and 00/100 Dollars ($7,200,000.00) for the
acquisition of the Property; and
WHEREAS, the funding commitment of the City to the Project Sponsor for the MFE
Funds is more fully described in that certain Miami For Everyone Loan Agreement for 3710 Grove
Landing of even date herewith (the "Loan Agreement"); and
WHEREAS, the Project Sponsor and the City desire to establish the mechanism whereby
the Project Sponsor will apply to receive the MFE Funds;
NOW, THEREFORE, for and in consideration of the Project Sponsor's acquisition of the
Property, construction and development of the Project and the reciprocal agreements set forth
herein, the Project Sponsor and the City agree as follows:
ARTICLE I
DISBURSEMENT PROCEDURE
1.1 The Loan Agreement establishes the conditions to the City's obligation to loan the
MFE Funds to the Project Sponsor. The Project Sponsor may not request disbursement of funds
pursuant to this Agreement until such funds are needed for the acquisition costs of the Property at
the time of closing.Provided the City is obligated to disburse the MFE Funds pursuant to the terms
of the Loan Agreement and this Agreement, the City will disburse such funds in accordance with
this Article I.
Page 1 of 6
1.2 The Project Sponsor shall submit a request for the MFE Funds, at the time of the
Closing where the City shall disburse the MFE Funds as described in the Loan Agreement. The
Project Sponsor will submit or cause to be submitted the following documentation to the City for
the City's review for sufficiency, prior to any disbursement of MFE Funds by the City:
(a) Acquisition Costs:
(i) At the time of the closing for the acquisition of the Property the funds will
be disbursed in one lump sum for the purpose of closing on the Property.
(ii) Such other information and documents as the City may require including
but not limited to: (i) an environmental clearance report in a form acceptable to the City, (ii)
evidence that the Property and the proposed improvements received the required upzoning to T4
or higher for the Property that is currently zoned at T3 and comply with all applicable zoning
ordinances, and (iii) a current appraisal report of the Property made by a member of the American
Institute of Real Estate Appraisers, in a form satisfactory to the City.
1.3 The City reserves the right to refuse to fund any disbursement request(s) in the
event that the City determines that the Project and/or the Project Sponsor are not in compliance
with any local, state or federal law or requirement.
1.4 Disbursements if permitted and applicable pursuant to the MFE Agreement, shall
be made in accordance with the City of Miami Department of Housing and Community
Development Disbursement of Funds Checklist.
ARTICLE II
MISCELLANEOUS
2.1 This Agreement may only be amended in writing by all the parties hereto.
2.2 This Agreement, the Loan Agreement and the other documents executed by the
parties in connection therewith constitute the entire agreement between the parties hereto and no
other agreements or representations, unless incorporated in this Agreement, shall be binding upon
any of the parties hereto.
2.3 All capitalized terms not defined herein shall have the meanings provided in the
Loan Agreement.
2.4 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.
2.5 Counterparts and Electronic Signatures. 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.
Page 2 of 6
IN WITNESS WHEREOF, this Agreement has been executed by the Project Sponsor and
the City on the date first above written.
[Signature Page Follows]
Page 3 of 6
WITNESSES:
Signature:
Print Name:
Address:
Mi(m.►FL331517
Signature:
Print N. vl Y t a
Addres
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
PROJECT SPONSOR:
COLLABORATIVE DEVELOPMENT
CORPORATION, a Florida not -for -profit
corporation
By:
_ Print me: Joseph King
Title: President
ACKNOWLEDGMENT
The foregoing instrument was acknowledged before me by means of physical presence or O
online notarization, this 242 day of ((V_ , 2024 by Joseph King as President of
Collaborative Development Corporation, a Florida not -for -profit corporation. She/He is personally
known to me or has produced t\v'iie-+ Large as identification.
(NOTARY PUBLIC SEAL)
:ice •tie:.. LISPPI AJRORA MONTERREY
g.^�L'• Notary Public - State of Florida
. .7g!
''' •:,•F 4 My Comm.
Expires Sep 7, 2025
3orcec through National votary Assn.
Signatur- of 'o Taking
A . owledgment
(Printed, Typed, or Stamped Name of Notary
Public)
Serial Number, if any
Page 4 of 6
ATTEST:
Todd H
City
Date: (9
APPROVED AS TO FORM
AND CORRECTNESS:
By:4ge song III /'
Geor K. n III/
�
City Attorney
v
(P4-- zg
CITY:
CITY OF NIIAMI, a municipal corporation
of the State of Florida
By:
Arthur Noriega V
City Manager
Page 5 of 6
Exhibit A
Legal Description of the Property
Parcel 1: 3710 Grand Avenue, Miami, FL 33133
Lots 41 through 52, Block A, of St. Alban's Park, of Combined and Supplemental Map of
MacFarlane Homestead Plat and St. Alban's Park, according to the map or plat thereof as recorded
in Plat Book 5, Page 81, Public Records of Miami -Dade County, Florida, less that portion of said
Lots for street right of way as shown on the Right of Way Map according to the map or plat thereof
as recorded in Plat Book 101, Page 58, Public Records of Miami -Dade County, Florida, and less
legal description in Eminent Domain Proceedings filed in O.R. Book 6544, Page 666 and in O.R.
Book 11075, Page 2511, and less that portion of said Lots for street right of way as shown on the
Right -of -Way Deed recorded in O.R. Book 33487, Page 4449, Public Records of Miami -Dade
County, Florida.
Parcel 2: 3735 Washington Avenue, Miami, FL 33133
Lots 1 and 2, Block 1, of St. Alban's Park, of Combined and Supplemental Map of MacFarlane
Homestead Plat and St. Alban's Park, according to the map or plat thereof as recorded in Plat Book
5, Page 81, Public Records of Miami -Dade County, Florida, less that portion of said Lots for street
right of way as shown on the Right -of -Way Deed recorded in O.R. Book 33487, Page 4449, Public
Records of Miami -Dade County, Florida.
Parcel 3: 3714 Washington Avenue, Miami, FL 33133
Lot 49 and the East 7 feet of Lot 50, Block B, of St. Alban's Park, of Combined and Supplemental
Map of MacFarlane Homestead Plat and St. Alban's Park, according to the map or plat thereof as
recorded in Plat Book 5, Page 81, Public Records of Miami -Dade County, Florida.
Parcel 4: 3718 Washington Avenue, Miami, FL 33133
The West 13 feet of Lot 50 and the East 9.5 feet of Lot 51, Block B, of St. Alban's Park, of
Combined and Supplemental Map of MacFarlane Homestead Plat and St. Alban's Park, according
to the map or plat thereof as recorded in Plat Book 5, Page 81, Public Records of Miami -Dade
County, Florida.
Parcel 5: 3719 Thomas Avenue, Miami, FL 33133
Lots 43 and 42, less the West 1.5 feet of Lot 42, Block B, of St. Alban's Park, of Combined and
Supplemental Map of MacFarlane Homestead Plat and St. Alban's Park, according to the map or
plat thereof as recorded in Plat Book 5, Page 81, Public Records of Miami -Dade County, Florida.
Parcel 6: 3442 SW 37 Avenue, Miami, FL 33133
Lots 44, 45, 46 and the South 1/2 of Lot 47, Block B, of St. Alban's Park, of Combined and
Supplemental Map of MacFarlane Homestead Plat and St. Alban's Park, according to the map or
plat thereof as recorded in Plat Book 5, Page 81, Public Records of Miami -Dade County, Florida.
Parcel 7: 3424 SW 37 Avenue, Miami, FL 33133
The North 1/2 of Lot 47 and all of Lot 48, Block B, of St. Alban's Park, of Combined and
Supplemental Map of MacFarlane Homestead Plat and St. Alban's Park, according to the map or
plat thereof as recorded in Plat Book 5, Page 81, Public Records of Miami -Dade County, Florida.
Page 6 of 6
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