HomeMy WebLinkAbout23957AGREEMENT INFORMATION
AGREEMENT NUMBER
23957
NAME/TYPE OF AGREEMENT
OMNI CRA & WYNWOOD WORKS, LLC
DESCRIPTION
FIRST AMENDMENT TO THE AGREEMENT/EXTENSION OF
THE FINANCE COMMITMENT & CLOSING DATES /FILE ID:
11954/CRA-R-22-0018/MATTER ID: 22-1168
EFFECTIVE DATE
May 19, 2022
ATTESTED BY
NICOLE EWAN
ATTESTED DATE
6/21/2022
DATE RECEIVED FROM ISSUING
DEPT.
6/21/2022
NOTE
M/(GELLAN
HOUSING
May 19, 2022
Mr. H. Bert Gonzalez, Executive Director
Omni Community Redevelopment Agency / CRA
1401 N. Miami Avenue, 2" Floor
Miami, Florida 33136
$g-A•
Dear Mr. onzalez,
23gcq-
Via UPS Con. # 1Z9EE1850110120041 &
Via E-Mail: HuGonzalez ruMiamigov.com
RE: Wynwood Works —First Amendment to the Agreement between the Omni
Redevelopment District Community Redevelopment Agency & Wynwood
Works, LLC for Development of Property (the "First Amendment")
Please find attached two counterparts to the First Amendment executed by the Developer. Please
note that we have corrected the scrivener's error on the first page of the First Amendment in the
"Now Therefore" sentence to appropriately identify the parties to the Agreement. Kindly forward
us a copy of the fully executed First Amendment once available.
Should have any questions or need further clarification from our side, please contact me directly
at 786.246.8481.
Kindest regards,
Ryan iiidler
Executive Vice President
cc: Nick A. Inamdar, nick.inamdar@magellandev.com
Enclosures (2)
• ?S. "�► t-� �� C-o ✓1 0 I /1 l.S C���
(lad \ i
®-;-111-1
-171
reg
coat.
e-C\ Ai)
FIRST AMENDMENT TO THE AGREEMENT
BETWEEN THE
OMNI REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
AND
WYNWOOD WORKS, LLC
FOR DEVELOPMENT OF PROPERTY
This First Amendment to the Agreement ("First Amendment") is made and entered into the 19th
day of May 2022, by and between the OMNI REDEVELOPMENT DISTRICT COMMUNITY
REDEVELOPMENT AGENCY, apublic agency and body corporate created pursuant to Section
163.356, Florida Statues (the "CRA"), and WYNWOOD WORKS, LLC, A Florida limited
liability company (the "Developer").
WITNESSETH:
WHEREAS, the original agreement between the CRA and Developer for Development of
Property is dated and effective as of November 24, 2020 (the "Agreement"); and
WHEREAS, pursuant to the Agreement, the Developer had 18 months to obtain all
financing commitments; however, due to circumstances beyond either the Developer's or the
CRA's control, the Developer has been unable to finalize all financial commitments; and
WHEREAS, the Developer and CRA desire to enter into this First Amendment in order to
extend the time period for the Developer to obtain all financing commitments, up to and including
July 8, 2022; and
WHEREAS, the extension of the time period for the Developer to obtain the financing
commitments will permit the Developer to construct the Project as provided for in the Agreement;
WHEREAS, the CRA Board finds that this First Amendment is in the best interest of the
CRA, is consistent with the CRA's Redevelopment Plan, and is in the best interest of the residents
and businesses within the CRA's boundaries.
NOW THEREFORE, in consideration of the mutual terms, conditions, promises,
covenants and payments hereinafter set forth, CRA and Developer agree as follows:
, 1. Incorporation of "Whereas" Clauses. The truth and accuracy of each "Whereas"
clause set forth above is acknowledged and is incorporated herein as if set forth in its entirety.
2. Section 8, "Financing," of the Agreement is amended to provide for the Developer
to obtain all applicable Financing sources and/or credits for the Project on or before July 8, 2022.
3. Section 13, "Closing Date and Conditions Precedent," of the Agreement is amended
as follows:
3.1 The first sentence of Section 13.1, "Closing," shall be amended to read as
follows:
The closing of the transaction (the "Closing") contemplated by this
Agreement shall occur on the earlier of the following (the "Closing
Date") (a) ten (10) days after all the CRA Conditions Precedent to
closing have been either satisfied or waived by the CRA or (b)
November 24, 2022, time being of the essence.
4. Miscellaneous. This First Amendment may be executed in any number of
counterparts, any one and all of which shall constitute the agreement of the parties and each of
which shall be deemed an original. Except as provided herein, the Agreement is unmodified, in
full force and effect and hereby ratified in every respect.
5. In the event of any conflict between the terms of the Agreement and the terms of
this First Amendment, the terms of this First Amendment shall control. Terms which are
capitalized but not defined herein shall have the meanings given to such terms in the Agreement.
6. Except as amended herein all other terms and conditions of the Agreement shall
remain in full force and effect.
(SIGNATURE PAGES TO FOLLOW)
IN WITNESS WHEREOF, the parties hereto have made and executed this First Amendment
on the respective dates under each signature:
DEVELOPER
WITNESSES:
Print Name: ,q
Print Name: G/� J%h P;1711
DEVELOPER:
WYNWOOD WORKS, LLC, a Florida limited
liability company
By: WYNWOOD WORKS MANAGER, LLC, a
Florida limited liability company, its manager
By: MAGELLAN HOUSING, LLC, a Florida
limited liability company, its manager
By:
Nikul A. Inamdar, its Member
ACKNOWLEDGMENT
STATE OF TEXAS )
COUNTY OF FORT BEND )
THE FOREGOING INSTRUMENT was acknowledged before me by means of r" physical
presence or Y online notarization this 7t' day June, 2022 by Nikul A. Inamdar, as Member of
MAGELLAN HOUSING LLC, a Florida limited liability company, the manager of WYNWOOD
WORKS MANAGER, LLC, a Florida limited liability company, manager of WYNWOOD
WORKS, LLC, a Florida limited liability company, on behalf of the companies, who is personally
known to me or who produced a Florida driver's license as identification.
My Commission Expires: p 2 / L ( / Zo L.0
Signature of Notary Public, State of Texas
Pc'Fce`L t ywcn
Printed Name of Notary Public
IN WITNESS WHEREOF, the parties hereto have made and executed this First Amendii�i>•
on the respective dates under each signature:
ATTEST:
B
annon, Clerk of the Board
Date: % J 21 12022
'3q5-q-
"CRA"
OMNI REDEVELOPMENT DISTRICT
COMMUNITY REDEVELOPMENT
AGENCY of the City of Miami, a public
agency and body corporate eated pursuant to
Section 163.356, Florida . , es
Bv:
Umberto onzalez, xecuti
irecto
APPROVED AS TO INSURANCE APPROVED AS TO LEGAL FORM
REQUIREMENTS
Abi -Marie arpe
Director of Risk Management General Counsel
AND CORRECTNESS
toria Mendez '3c 22_fk,/