HomeMy WebLinkAbout24052AGREEMENT INFORMATION
AGREEMENT NUMBER
24052
NAME/TYPE OF AGREEMENT
CASA VALENTINA, INC.
DESCRIPTION
RENT REGULATORY AGREEMENT/50 RESIDENTIAL
APARTMENT UNITS/MATTER ID: 21-2101K
EFFECTIVE DATE
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
9/1/2022
DATE RECEIVED FROM ISSUING
DEPT.
9/6/2022
NOTE
Prepared by, and after recording return to:
Victoria Mendez, Esq.
City Attorney, City of Miami
444 S.W. 2nd Avenue
Miami, FL 33130-1910
Tel: (305) 416-1800
Property Address: 3173 Mundy Street Miami, FL 33133
a,L05a.
RENT REGULATORY AGREEMENT FOR
CASA VALENTINA
This RENT REGULATORY AGREEMENT ("Regulatory Agreement") is entered into
this day of , 2022, between CASA VALENTINA, INC, a Florida not for
profit corporation ("Borrower") and the CITY OF MIAMI, a municipal corporation of the State
of Florida ( "City"). Borrower and the City are sometimes collectively referred to as the "Parties"
and singularly referred to as "Party."
The execution of this Regulatory Agreement by the Borrower is in connection with the
loan of American Rescue Plan Act of 2021 ("ARPA") funds, (the "Loan"), secured by certain loan
documents to be executed in connection therewith (the "Loan Documents"), for the acquisition of
land so that Borrower can construct a total of fifty (50) residential apartment units. All fifty (50)
residental apartment units will be ARPA-assisted units (the "ARPA-Assisted Units") in a project
known as Casa Valentina ("Project"). The Project is located on Mundy Street Miami, FL 33133
(hereinafter referred to as the "Property").
In accordance with the requirements set forth in (i) that certain ARPA Loan Agreement
executed by the Borrower and the City for the ARPA funds (the "Loan Agreement"), and (ii) the
other Loan documents of even date therewith between the Borrower and the City, fifty (50) Project
units are considered "ARPA-Assisted" and all of the ARPA-Assisted Units are subject to the
restrictions provided herein. The fifty (50) ARPA-Assisted Units shall be "floating" units, meaning
that they are not specifically designated units, but that any fifty (50) Project units shall be, at any
one time, in compliance with ARPA.
Borrower hereby agrees to the following terms, conditions and covenants until the end of
the Affordability Period:
al Occupancy Requirements. The ARPA-Assisted Units shall be made available to
tenants who qualify under the occupancy requirements of the United States
Department of the Treasury's final rule, 31 CFR Part 35, that implements the
Coronavirus State Fiscal and Local Fiscal Recovery Funds established under the
American Rescue Plan Act of 2021 ("Regulation"). The ARPA-Assisted Units are
subject to the restrictions provided therein and herein, including, but not limited to,
the following: All fifty (50) of the ARPA-Assisted Units shall be occupied by Low -
Income Households. Low -Income Households have annual incomes that do not
exceed eighty percent (80%) of the median income for the area, as determined by
U.S. Department of Housing and Urban Development ("HUD") and adjusted for
family size.
Maximum Rent Levels. The rents charged on all of the ARPA-Assisted Units shall
be as follows:
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No. of ARPA-
Rent
Maximum:
Assisted Units
(and AMI):
50 (80% AMI)
$1,020
The foregoing maximum rents include tenant paid utilities. Maximum rents will be
reduced for the amount of the applicable HUD Utility Allowance for any utilities paid
by the tenant. In no event will the monthly rent on an ARPA-Assisted Unit exceed
thirty percent (30%) of the applicable percentage of area median income set forth in
Paragraph 1 above. Rents shall not be adjusted for changes in income or HUD
published maximums until lease renewal. In the event that the ARPA Assisted Units
are also benefitted from a federal or state rent subsidy program, then the rents outlined
above may be set at the applicable rent standard established by that rent subsidy
program in compliance with 24 CFR 252 (b)(2).
(3) Income Re -certification. Tenant income for ARPA-Assisted Units shall be certified
by the Borrower annually on the anniversary of each tenant's lease and maintained in
the tenant file, subject to inspection by the City, in accordance with this Regulatory
Agreement.
(4) Deposits and Pre -payments. Borrower shall not require, as a condition of occupancy
or leasing of any ARPA-Assisted Unit, any other consideration or deposit from the
tenant, except for the prepayment of one month's rent and plus a security deposit not
to exceed one additional month's rent.
(5) Prohibited Lease Provisions. The Borrower's leases for ARPA-Assisted Units shall
not contain any of the following provisions:
a. Agreement to be sued. A tenant lease may not contain a provision whereby
the tenant agrees to be sued, admits guilt or consents to judgment in favor
of the landlord in a lawsuit brought in connection with the lease.
b. Agreement regarding treatment of property. A tenant lease may not contain
a provision whereby the tenant agrees that the landlord may take, hold or
sell personal property of the tenant household without notice and a court
decision. This prohibition does not apply to personal property remaining in
the ARPA-Assisted Unit after the tenant has moved out.
c. Waiver of notice. A tenant lease may not contain a provision whereby the
tenant agrees that the landlord may institute a lawsuit without notice to the
tenant.
d. Waiver of legal proceedings. A tenant lease may not contain a provision
whereby the tenant agrees that the landlord may evict the tenant or a
household member without instituting a civil court proceeding in which the
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tenant has the opportunity to present a defense or before a court decision on
the rights of the parties.
e. Waiver of a jury trial. A tenant lease may not contain a provision whereby
the tenant agrees to waive any right to a jury trial.
f. Waiver of right to appeal a court decision. A tenant lease may not contain a
provision whereby the tenant agrees to waive the tenant's right to appeal or
otherwise challenge in court a court decision in connection with the lease.
Agreement to pay legal costs, regardless of outcome. A tenant lease may
not contain a provision whereby the tenant agrees to pay attorney's fees or
other legal costs even if the tenant wins the court proceeding brought by the
landlord against the tenant. The tenant, however, may be obligated to pay
costs if the tenant loses.
g-
h. Excusing owner from responsibility. A tenant lease may not contain a
provision whereby the tenant agrees not to hold the landlord or the
landlord's agents legally responsible for any action or failure to act, whether
intentional or negligent.
(6) Annual Reporting. Each year, on the anniversary of the issuance of the certificate
of occupancy/certificate of completion for the Project, and at other times at the request
of the City (but in no event more tha once per month), the Borrower shall furnish
occupancy reports in a form approved by the City, and shall provide the City with such
other information as may be requested by the City relative to income, expenses, assets,
liabilities, contracts, operations, and condition of the Project and/or the ARPA-Assisted
Units.
(7) Inspections. The Borrower agrees to submit the ARPA-Assisted Units to an annual
re -inspection to insure continuing compliance with all applicable housing codes,
federal and local housing quality standards and regulatory requirements. The Borrower
will be furnished a copy of the results of each inspection within thirty (30) days of
completion, and will be given thirty (30) days thereafter to correct any deficiencies or
violations.
At any time other than an annual inspection, the City may, in its reasonable
discretion, inspect any ARPA-Assisted Unit. The Borrower and the tenant will be
provided with the results of the inspection and the time and the method of compliance
and corrective action that must be taken.
1'8) Record -keeping. The Property, the Project, including the ARPA-Assisted Units,
equipment, buildings, plans, offices, apparatus, devices, books, contracts, records,
documents, and other papers relating thereto shall at all times be maintained in
reasonable condition for proper audit and shall be subject to examination and inspection
at any reasonable time by the City. Borrower shall keep copies of all written contracts
and other instruments which affect the ARPA-Assisted Units, all or any of which may
be subject to inspection and examination by the City. Specifically, the foregoing
includes all records, calculations and information necessary to support tenant
occupancy eligibility and monthly rental charges in addition to all leases and written
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notices to tenants with respect to the terms of this Regulatory Agreement, as required
by this Regulatory Agreement.
(9) Default. Upon the occurrence of a violation of any provision of this Regulatory
Agreement, the City shall give written notice thereof to the Borrower, by registered or
certified mail, addressed to the Borrower's address as stated in this Regulatory
Agreement, or to such other address(es) as may subsequently, upon appropriate written
notice thereof to the City, be designated by the Borrower. In the case of a Borrower
which is a corporation or partnership, notices may also be sent by the City to the address
of the corporation's chief executive officer or to all general partners, as applicable, at
the City's discretion. If such violation is not corrected to the City's satisfaction, within
thirty (30) days after the date such notice is mailed, or within such further time as the
City reasonably determines is necessary to correct the violation, without further notice
the City may declare a default under this Regulatory Agreement and under the Loan
Agreement and the Loan Documents executed in connection therewith, and may
proceed to initiate any or all remedies at law or in equity provided for in the event of a
default under such agreements and Loan Documents.
All notices under this Regulatory Agreement shall be in writing and addressed as
follows:
To Borrower:
With Copy to:
To City:
Casa Valentina, Inc.
2103 Coral Way
Miami, FL 33145
Attn: Janice Graham, Executive Director
Bilzin Sumberg Baena Price & Axelrod LLP
1450 Brickell Avenue, 23rd Floor
Miami, Florida 33131
Att: Sara Barli Herald
City of Miami
Department of Housing and
Community Development
One Flagler Building
14 Northeast 1st Avenue, Second Floor
Miami, Florida 33132
Attn: George Mensah, Director
With Copy To: Office of the City Attorney, City of Miami
444 S.W. 2nd Avenue
Miami, FL 33130-1910
Attn: Victoria Mendez
(10) Fines. Upon the occurrence of a violation of any provision of this Regulatory
Agreement, and regardless of the nature of the violation, the City will assess a flat
monthly fine in the amount of Fifty Dollars and no/cents ($50.00) per ARPA-Assisted
Unit that is the subject of such violation up to a maximum of Five Thousand Dollars
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and no/cents ($5,000.00) per month, for each month the violation is not corrected, and
pay same over to the City. The remedy for violation provided in this section of this
Regulatory Agreement is cumulative with any and all remedies at law or in equity
provided in the event of a default under this Regulatory Agreement and/or the Loan
Documents.
(11) Tenant Notice. Borrower agrees during the term of this Regulatory Agreement, to
furnish each tenant of a ARPA-Assisted Unit, at the execution or renewal of any lease
or upon initial occupancy, if there is no lease, with a written notice in the following
form:
The rent charged for your apartment and the services included
in that rent are subject to a Rent Regulatory Agreement
between the landlord and the City of Miami, for the term of the
Affordability Period. A copy of the Rent Regulatory Agreement
will be made available by the landlord to each tenant upon
request.
If there is no lease for a ARPA-Assisted Unit, Borrower shall maintain a file
copy of such notice delivered to the tenant, with a signed acknowledgement of receipt
by the tenant. All such notices to tenants will be made available for inspection upon
request by the City.
(12) No Conflict with Loan Documents. The provisions of this Regulatory Agreement
are in addition to, and do not amend, alter, modify, or supersede in any respect, the
provisions of the mortgage and/or any of the other Loan Documents executed in
connection with the Loan.
(13) Partial Invalidity. The invalidity of any paragraph or provision of this Regulatory
Agreement shall not affect the validity of the remaining paragraphs and provisions
hereof.
(14) Term. This Regulatory Agreement shall be effective until the Expiration of the
Affordability Period. On the Expiration of such period, this Regulatory Agreement
shall immediately lapse and be of no further force and effect without the necessity of
any other written document or instrument. Notwithstanding the foregoing, upon such
Expiration, the Borrower shall be permitted to prepare and record an instrument
evidencing the expiration of and other termination of this Regulatory Agreement in the
Public Records of Miami -Dade County, Florida.
(15) Definitions. All capitalized terms used herein and not otherwise defined shall have
the meanings provided in the Loan Documents.
(16) Exclusion of Commercial Spaces. Notwithstanding anything to the contrary in this
Regulatory Agreement or in the Loan Agreement, it is expressly understood and agreed
that the Regulation and all other terms, conditions, restrictions, and requirements of
this Regulatory Agreement shall exclude, and shall not apply to, or otherwise restrict
or affect, the operation, maintenance, leasing, improvement, base rent and other
additional rent determination and collection, and all other aspects of the Borrower's
management, leasing, and ownership of all or any portion of the commercial and retail
spaces located in the Project, if applicable.
Page 5 of 9
(17) Severability. Invalidation of one of the provisions of this Regulatory Agreement
by judgment of Court shall not affect any of the other provisions of the Regulatory
Agreement, which shall remain in full force and effect.
(18) Recordation. This Regulatory Agreement shall be filed of record among the
Public Records of Miami -Dade County, Florida, at the sole cost and expense of the
Borrower.
(19) Governing Law and Venue. This Regulatory 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
Regulatory Agreement must be brought 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 waive any defense that venue in Miami -Dade County is not convenient.
(20) Counterparts. This Regulatory 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 Regulatory Agreement. The
Parties shall be entitled to sign and transmit an electronic signature of this Regulatory
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 Regulatory Agreement upon request.
(21) Attorney's Fees. In the event litigation, arbitration, or mediation, between the
Parties, arises out of the terms of this Regulatory 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.
[Signature Page Follows]
Page 6 of 9
This RENT REGULATORY AGREEMENT has been executed and delivered as of the
day and year first above written.
PROJECT SPONSOR: CASA VALENTINA,
INC., a Florida not for profit corporation
WITNESSES:
Print Name:
C C� � (CMS By: Ila.AANk---
Print Name: Sharon Langer
Title: Boar C irperson
Date: $ o9-�(��
Print Name:
STATE OF FLORIDA
}
COUNTY OF MIAMI-DADE } SS:
ACKNOWLEDGMENT
The foregoing instrument was acknowledged before me by means of C9<hysical presence or 0
online notarization this At-k day of Q r , 2022 by Sharon Langer, as Board
Chairperson of Casa Valentina, Inc., a Florida not for profit corporation, who is personally known to me
or has produced r s ' -> ‘_z..s_as identification.
n
Robert Comm.#yHp ga602
Oct. 25, 2024
ThluAaron Notary
12-0
Print Name:
Notary Public, State of F orida at large
Page 7 of 9
THIS REGULATORY AGREEMENT has been executed and delivered as of the day and
year first above written.
ATTEST:
odd B. Ha
City Clerk
Date: rilq
a.•D2�2�
APPROVED AS TO FORM
AND CORRECTNESS:
Victona`M ndez
City Attorney
CITY:
CITY OF NIIA1 II, a municipal corporation
of the State of Florida
By:
Noriega V
City Manager
0-
1�
Page 8 of 9
Exhibit A
Legal Description Of The Property
Lot 5, of Charles M. Mundy, a subdivision, according to the Plat thereof, as
recorded in Plat Book 15, Page 29, of the Public Records of Miami -Dade County, Florida.
(ILA° 50
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