HomeMy WebLinkAbout26085AGREEMENT INFORMATION
AGREEMENT NUMBER
26085
NAME/TYPE OF AGREEMENT
5215 FLAGLER STREET, LLC
DESCRIPTION
AFFORDABLE/WORKFORCE HOUSING COVENANT RELATED
TO CERTAIN IMPACT FEES/JOINDER AND CONSENT BY FEE
OWNER AND MORTGAGE/MATTER ID: 26-0838 #22
EFFECTIVE DATE
April 13, 2026
ATTESTED BY
TODD B. HANNON
ATTESTED DATE
4/13/2026
DATE RECEIVED FROM ISSUING
DEPT.
4/16/2026
NOTE
CITY OF MIAMI
DOCUMENT ROUTING FORM
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ORIGINATING DEPARTMENT: Housing and Community Development
DEPT. CONTACT PERSON: Maria T Ason
NAME OF CONTRACTUAL PARTY/ENTITY: 5215 Flagler Street, LLC
IS THIS AGREEMENT TO BE EXPEDITED/RUSH:
TOTAL CONTRACT AMOUNT: $
EXT. 1971
TYPE OF AGREEMENT:
❑ MANAGEMENT AGREEMENT
❑ PROFESSIONAL SERVICE AGREEMENT
❑ GRANT AGREEMENT
❑'EXPERT CONSULTANTAGREEMENT
0 LICENSE AGREEMENT
C21OTHER (PLEASE SPECIFY):
Joinder for Miami Dade
— YES 7 NO
FUNDING INVOLVED? YES J NO
❑ PUBLIC WORKS AGREEMENT
0 MAINTENANCE AGREEMENT
❑ INTER -LOCAL AGREEMENT
❑ LEASE AGREEMENT
❑ PURCHASE OR SALE AGREEMENT
County Affordable/Workforce Covenant
PURPOSE OF ITEM (DETAILED SUMMARY/ ADD ADDITONAL PAGES IF NECESSARY): Execute Joinder and Consent form for the
Miami Dade County Affordable/Workforce Covenant in connection with the Flagler Villas project. City owns the property.
COMMISSION APPROVAL DATE: FILE ID: ENACTMENT No.:
IF THIS DOES NOT REQUIRE COMMISSION APPROVAL, PLEASE EXPLAIN: The City owns the property, joinder as owner and lender.
ROUTING INFORMATION
DATE
PLEASE PRIN/AND SIGN
APPROVAL BY DEPARTMENT DIRECTOR/
DESIGNEE
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PRINT: VICTOR TURNER/4CIIILQUADE
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SIGNATURE. erl�
APPROVAL BY RISK MANAGEMENT
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PRINT: DAVID RU D CP
SIGNATURE:
APPROVAL BY CITY ATTORNEY
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PRINT: GEOIAGE KC WYSONG III
SIGNATUR(.61. Uk%7`
APPROVAL BY ASSISTANT CITY MANAGER
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PRINT: ERICA PASCHAL DARLING
SIGNATURE:
APPROVAL BY DEPUTY CITY MANAGER
PRINT: NATASHA COLEBROOK-WILLIAMS
APPROVAL BY CITY MANAGER
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PRINT: JAMES REYES
SIGNATURE:Jr'
APPROVAL BY CITY CLERK
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PRINT: TODD B. HANNON
SIGNATURE:
PLEASE ATTACH THIS ROUTING FORM TO ALL DOCUMENTS THAT REQUIRE
EXECUTION BY THE CITY MANAGER
This instrument was prepared by:
Record and return to:
Brian J. McDonough, Esq.
Stearns Weaver Miller
Weissler Alhadeff & Sitterson, P.A.
15o West Flagler Street, Suite 2200
(Space reserved for Clerk)
AFFORDABLE/WORKFORCE HOUSING COVENANT RELATED TO CERTAIN IMPACT FEES
KNOW ALL BY THESE PRESENTS THAT the undersigned Owner, the City of Miami (hereinafter,
"Owner"), and -the undersigned 5215 Flagler Street, LLC, a Florida limited liability company
(hereinafter, "Lessee"), hereby make, declare and impose on the land herein described, these
covenants running with the title to the land, which shall be binding on the Owner and the Lessee, all
their heirs, successors, and assigns, personal representatives, mortgagees, lessees, and against all
persons claiming by, through or under them; and
WHEREAS, Owner holds the fee simple title to the land in Miami -Dade County, Florida described
in Exhibit "A," attached hereto and made a part hereof, hereinafter called the "Property," which is
supported by the attorney's opinion attached as Exhibit "B"; and
WHEREAS, Owner has leased the Property to Lessee, pursuant to that certain Ground Lease
dated as of December 1o, 2024 by and between Owner and Lessee, as amended by that certain First
Amendment to Ground Lease dated as of July 2, 2025 by and between Owner and Lessee, and pursuant
to said documents, the Lessee may be the owner of certain improvements to be made to the real
Property and may have obligations or responsibilities relating to said improvements; and
WHEREAS, the Board of County Commissioners of Miami -Dade County has adopted the Miami -
Dade County Mobility, Fire, Police, and Parks Impact Fee Ordinances (collectively, the "Ordinances")
in Chapters 33E, 33J, 331, and 33H respectively of the Code of Miami -Dade County, Florida; and
WHEREAS, the Ordinances exempt from the required payment of impact fees certain housing
units which provide affordab.le;housing for, low and very low income families and/or certain workforce
housing units, as defined in the Ordinances, provided that such housing units comply with certain
requirements in the Code of Miami -Dade County, including, but not limited to, requirements to restrict
such housing units to individuals and families earning up to 12o% of AM I, as more specifically provided
for in the Code of Miami -Dade County; and
WHEREAS, Owner and Lessee seek the following exemptions (check all that apply):
❑ Mobility
❑ Fire
❑ Police
O Parks
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page z of 7
WHEREAS, the Miami -Dade County Department of Regulatory and Economic Resources (the
"Department") through its Director is given authority to administer and effectuate the Ordinances;
and
WHEREAS, Lessee will construct a project in Miami -Dade County to be occupied by low or very
low income families and/or that includes workforce housing units on the property afore described; and
WHEREAS, Owner and Lessee have agreed to assure the Department that the project will
include 60 units of workforce housing units and/or affordable housing units to be occupied by
moderate, low or very low income families according to the Ordinances and the terms states herein,
and the above -mentioned number of workforce housing units and/or affordable housing units shall
also be considered to be "the Project," as such term is used herein; and
WHEREAS, Owner and Lessee are submitting this covenant tominduce the. -Director. -of -the =..
Department to grant an exemption of the aforesaid impact fees in the total amount of the mobility,
fire, police, and parks impact fees, whichever fees are applicable; and
NOW THEREFORE, in consideration of the covenants and undertakings set forth herein, and
other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the Owner and Lessee, and all of their successors and assigns, do hereby covenant and agrees as
follows:
General
A. That the Project shall be occupied on a continuous basis by members of the general public
who comply with the workforce housing and/or affordable housing exemptions of the
Ordinances for a time period no less than fifteen (15) years from the date of this covenant;
and
B. That impact fees will become due and payable by Lessee, and its successors and assigns, at
such time that any of the units referenced in this covenant lose their status as affordable
and/or workforce housing, as determined by the Director of the Department, within fifteen
(15) years from the date of this covenant. This paragraph shall also be enforceable against
the current owner of the Project, and successors and assigns of the .Owner,: all: in. the. sole;-
discretion of the Director of the Department; and ..,, :,c., - _ . - •_,:-23
C. In the event that any portion of the Project is rented or:the::subject- .of _a_ rent -purchase-=
agreement or similar agreement, as determined by the Director of the Department, a report
shall be furnished to the Department each year for a period of five (5) years from the date
of this covenant certifying the income of the owners/lessees of the Project and compliance
with the provisions of the covenant; and
D. In the event that any portion of the Project is sold, prior to such sale, the Lessee (and Owner,
as may be applicable) shall provide all documentation as required by the Director of the
Department to prove that the prospective occupants comply with the workforce housing
and/or affordable housing exemption of the Ordinances.
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page 3 of 7
Termination. Owner and Lessee, and their successors or assigns, shall have the right, upon written
request by both the Owner and Lessee delivered to the Department, to be released and have the
Project released from the terms and conditions contained herein upon tender to Miami -Dade County
of the full amount of the applicable impact fees in effect at the time of the requested release, payable
in accordance with the provisions of the Ordinances.
Covenant Running with the Land. This covenant shall constitute a covenant running with the land and
may be recorded in the Public Records of Miami -Dade County, Florida, and shall remain in full force
and effect and be binding upon Owner and Lessee and all of their successors and assigns until such
time as the same is modified or released or as otherwise provided in this covenant.
Governing Law. This covenant shall be governed by and construed in accordance with the laws of the
State of Florida, both as to substantive rights and those governing remedies:
Notice. Any notice required to be given herein shall be given by personal delivery by certified U.S. mail
at the address specified below or at such other address as may be specified in writing by the parties.
DEPARTMENT
Department of Regulatory and Economic
Resources
Stephen P. Clark Center
111 NW 1 Street, Suite 1210
Miami, Florida 33128
Attn: Director
LESSEE
5215 Flagler Street, LLC
2850 Tigertail Ave., Suite 800
Miami, Florida 33133
Attn: Alberto Milo, Jr.
OWNER
City of Miami
Department of Housing and Community Development
444 S.W. end Avenue
Miami, FL 3313o-ig10
Attn: Victor Turner, Director
With Copy To:
George K. Wysong III
City Attorney
City of Miami
444 S.W. znd Avenue
Miami, FL3313o-1910
Joinder. The Owner and Lessee hereby certify that any and all mortgagees have joined this covenant,
as evidenced through a written joinder to be attached hereto.
Owner. The term Owner shall include all of Owner's heirs, assigns, and successors in interest.
Lessee and Obligations of Lessee. The term Lessee shall include all of Lessee's heirs, assigns, and
successors in interest. Pursuant to the terms of the referenced lease, Lessee agrees that Lessee, and
its heirs, successors, and assigns, is intended to be solely responsible for compliance with the terms of
this covenant, including, but not limited to, the provision of reports and documentation, and that
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page 4 of 7
Lessee, and its heirs, successors, and assigns, is intended to be solely responsible for any violations of
this covenant, including, but not limited to any requirement to pay impact fees based on such a
violation. This paragraph is primarily intended for notice and informational purposes and shall not be
interpreted to modify, supplement, or otherwise amend the referenced Lease or any other contract
between the County and Lessee.
No Limitation on the County. Notwithstanding the paragraph above entitled "Lessee and Obligations
of Lessee" or anything to the contrary herein, this covenant shall run with the land and shall be binding
on all future owners of the Property, as well as the Lessee and Lessee's heirs, successors, and assigns.
Nothing in this covenant shall be interpreted as a limitation on the County's enforcement of this
covenant, including, but not limited to, the County's ability to enforce the terms of this covenant
against any and all Owners of the Property, the Lessee, and/or the Lessee's heirs, successors, and
assigns. _ .:_ _ _ ..._f ._ _ -
Severability. If any provision of this covenant shall be invalid, illegal, or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not be affected or impaired.
[Execution Pages for Lessee and Owner Follow]
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page 5 of 7
JOINDER AND CONSENT BY FEE OWNER AND MORTGAGEE
The undersigned City of Miami, a municipal corporation of the State of Florida ("City"), as fee
simple owner of the Property, as Mortgagee pursuant to that certain Leasehold Mortgage and
Security Agreement in favor of the City of Miami, a municipal corporation of the State of Florida,
recorded in Official Records Book 34770, Page 1754, and as Mortgagee pursuant to that certain
Leasehold Mortgage and Security Agreement in favor of the City of Miami, a municipal
corporation of the State of Florida, recorded in Official Records Book 34843, Page 2357, all of the
Public Records of Miami -Dade County, Florida covering all/or a portion of the property described
in the foregoing agreement, does hereby join and consent to the Affordable Housing Covenant.
Signed, witnessed, executed and acknowledged on this day of , 2026.
ATTEST:
Date:
APPROVED AS
REQUI EME
David Rui
Interim
RANCE
ector of.Risk Management
APPROVED AS TO
DEPARTMENTAL REQUIREMENTS:
By: v�
Victor T. Turner
Director of the Department of Housing and
Community Development
CITY OF MIAMI, a municipal corporation of the
State of Florida
y:
James Rey �y I1 anager
APPROVED AS TO FORM AND
CORRECTNESS:
George R. Wysong
City Attorney p ZC en3e
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page6of7
JOINDER OF FIRST MORTGAGEE
(Bond Loan)
The undersigned, as Mortgagee under that certain Leasehold Mortgage, Assignment of Rents, Security
Agreement and Financing Statement in favor of Housing Finance Authority of Miami -Dade County,
Florida, a public body corporate and politic created, organized and existing under the laws of the State
of Florida, recorded in Official Records Book 34840 Page 1919, as assigned to The Bank of New York
Mellon Trust Company, as Fiscal Agent, by Assignment of Leasehold Mortgage, Assignment of Rents,
Security Agreement and Financing Statement, recorded in Official Records Book 34840 Page 1943, all
of the Public Records of Miami -Dade County, Florida, covering all/or a portion of the property described
in the foregoing agreement, does hereby acknowledge that the terms of this agreement are and shall be
binding upon the undersigned and its successors in title.
2026.
IN WITNESS WHEREOF, these presents have been executed this day of
FIRST MORTGAGEE:
THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., a national banking
association, as Fiscal Agent
By:
Name:
Title:
STATE OF )
) SS:
COUNTY OF )
The foregoing instrument was acknowledged before me by means of ❑ physical presence
or ❑ online •notarization this of , 2026, by as
of The Bank of New York Mellon Trust Company, N.A., as Fiscal Agent,
who is personally known to me or has produced , as
identification
Print or Stamp Name:
Notary Public, State of Florida at Large
Commission No.:
My Commission Expires
2. 60 k$
Affordable/Workforce Housing Covenant Related to Impact Fees,
County Fee Owner/Lessee
Page 7 of 7
JOINDER OF SECOND MORTGAGEE
(Southstate Bank Loan)
The undersigned, as Mortgagee under that certain Leasehold Mortgage, Assignment of Rents, Security
Agreement and Financing Statement in favor of Southstate Bank, N.A., a national association, recorded
in Official Records Book 34840, Page 1960 of the Public Records of Miami -Dade County, Florida
covering all/or a portion of the property described in the foregoing agreement, does hereby acknowledge
that the terms of this agreement are and shall be binding upon the undersigned and its successors in title.
IN WITNESS WHEREOF, these presents have been executed this day of
2026.
SECOND MORTGAGEE:. .
SOUTHSTATE BANK, N.A., a national
association
By:
Name:
Title:
STATE OF )
) SS:
COUNTY OF )
The foregoing instrument was sworn and acknowledged before me by means of ❑
physical presence or ❑. online notarization this day of , 2026, by
as of Southstate Bank, N.A.. who is
personally known to me or has produced , as
identification. __..._.......
Notary Public
State of Florida at Large
My Commission Expires:
#14375906 v2
26025