HomeMy WebLinkAboutSubmittal at 12-02-2020 PZAB Mtg Submittal - Applicant - Eastside RidgeEASTSIDE RIDGE SPECIAL AREA PLAN
COMMUNITY BENEFITS SUMMARY
BENEFIT
SUMMARY DESCRIPTION*
Est°ttA't'ED
VALUE/COST
Community Foundation &
Affordable Housing
Over the course of the project's construction, the Owner will provide $10 million in seed
funding to a 501(c)(3) or similar established fund or nonprofit foundation dedicated to
serving Miami. $7 million of the $10 million will be a revolving fund for affordable
housing.
$10,000,000
Trolley Infrastructure
Owner will provide land and construct two trolley stops on site.
$900,000
Right of Way Improvements
Abutting the Project
Owner will contribute funds for improvements along all rights -of -way abutting the
property.
$2,500,000
Park Dedication &
Improvement
Owner will convey to the City of Miami 2.7 acres of improved park land.
$23,000,000
Community Space
Owner will make available up to 2,000 square feet of office and community gathering
space for community use.
$120,000
MPD Substation
Owner will lease for $1.00 to the City of Miami up to 2,000 square feet of space for a
police substation.
$40,000
TOTAL
$36,560,000.00
Train Station
Owner will use best commercial efforts for the location and approval of a station on site.
Workforce Housing
Teri percent of all units built on the property (up to 315 units) will be managed and
operated as Workforce Housing.
Relocation Assistance for
Design Place Residents
Assistance to Design Place Residents displaced by the new construction will be
provided.
Job Fairs & Training
Job opportunities will be provided.
Local Hiring Commitment
for Construction Jobs
Up to 25% of all construction jobs will be set aside for residents of the City of Miami
with first priority to residents of Little Haiti. Up to 40% of all construction jobs will be
set aside for Miami -Dade County residents.
Local Hiring Commitment
for Permanent Jobs
Up to 10% of the permanent jobs with the Owner will be set aside for residents of Little
Haiti. Commercial tenants will be encouraged to hire up to 10% of their labor from
within Little Haiti.
Civic Space
Owner will provide approximately 22.6% of the lot area as open plazas accessible to the
public.
• Benefits are subject to to
0
vetopment Ageement approved by the City Commission.
EASTSIDE RIDGE SPECIAL AREA PLAN
ADDITIONAL BENEFITS SUMMARY
Su.
ARY DESCRIPTION*
Projected Increase in Property Tax Reveng e
Non -Recurring Labor Income Generated
Recurring Labor Income Generated
Building Permit Fees
City Impact Fees
School Board Impact Fees
SUB TOTAL
$14,050,448
$40,375,000
$106,657,300
$3,007,500
$10,25,407
$,956,048
$637,15 ,0361
GRAND TOTAL I $670,24:
*Amounts are approxi ate and subject to configuration of final approved SAP,
MIAMI C 158424.1 831385187055
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