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Home My WebLink AboutBackup Documents SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. A TABLE OF CONTENTS SECTION A: TABLE OF CONTENTS..................................................................2 SECTION B: EXECUTIVE SUMMARY...............................................................3 SECTION C: VISION, GOALS AND OBJECTIVES OF PROPOSED PROJECT......... 10 SECTION D: COMMUNITY BENEFITS............................................................14 SECTION E: PROJECT PLAN.....................................................................16 SECTION F: OPERATIONAL PLAN...............................................................42 SECTION G: MARKET ANALYSIS AND ECONOMIC FEASIBILITY ........................44 SECTION H: FINANCIAL PLAN..................................................................46 SECTION is FINANCIAL FEASIBILITY............................................................47 RFP REGISTRATION FORM (EXHIBIT A) ................................................50 RFP SUBMISSION FORM (EXHIBIT B) ...................................................52 THRESHOLD QUALIFICATIONS & STANDARDS....................................79 CERTIFICATION(EXHIBITD)...............................................................119 DISCLOSURE/DISCLAIMER (EXHIBIT E) ................................................120 PROPOSER'S ORGANIZATION HISTORY/STRUCTURE & CHART ............122 ADDITIONAL INFORMATION ............................................................123 GITYOF MIAMI FIRMS..................................................................123 LEASE AGREEMENT AFFIDAVIT...................................................... 124 Request r'or proposals for A Lease of City -Owned Riverfront Proverty 2 SECTION J: FINAL RETURN TO THE CITY ......................................................49 SECTION K: ATTACHMENTS ..5a RFP REGISTRATION FORM (EXHIBIT A) ................................................50 RFP SUBMISSION FORM (EXHIBIT B) ...................................................52 THRESHOLD QUALIFICATIONS & STANDARDS....................................79 CERTIFICATION(EXHIBITD)...............................................................119 DISCLOSURE/DISCLAIMER (EXHIBIT E) ................................................120 PROPOSER'S ORGANIZATION HISTORY/STRUCTURE & CHART ............122 ADDITIONAL INFORMATION ............................................................123 GITYOF MIAMI FIRMS..................................................................123 LEASE AGREEMENT AFFIDAVIT...................................................... 124 Request r'or proposals for A Lease of City -Owned Riverfront Proverty 2 a. r THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. I n m 0 n "w z m /-i V 1 ,um, _— wr1'- nram r THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. A TABLE OF CONTENTS SECTION A: TABLE OF CONTENTS..................................................................2 SECTION B: EXECUTIVE SUMMARY...............................................................3 SECTION C: VISION, GOALS AND OBJECTIVES OF PROPOSED PROJECT......... 10 SECTION D: COMMUNITY BENEFITS............................................................14 SECTION E: PROJECT PLAN.....................................................................16 SECTION F: OPERATIONAL PLAN...............................................................42 SECTION G: MARKET ANALYSIS AND ECONOMIC FEASIBILITY ........................44 SECTION H: FINANCIAL PLAN..................................................................4G SECTION I: FINANCIAL FEASIBILITY............................................................47 RFP REGISTRATION FORM (EXHIBIT A) ,........... ....................................50 RFP SUBMISSION FORM (EXHIBIT B) ................................................... 52 THRESHOLD QUALIFICATIONS & STANDARDS....................................79 CERTIFICATION(EXHIBIT D) ..............................................................119 DISCLOSURE/DISCLAIMER (EXHIBIT E) ............ ....................................120 PROPOSER'S ORGANIZATION HISTORY/STRUCTURE & CHART ............122 ADDITIONAL INFORMATION............................................................123 0 e lX CITYOF MIAMI FIRMS..................................................................123 LEASE AGREEMENT AFFIDAVIT ......................................................124 Request for proposals for A Lease of City -Owned Rwerfront Property `4 SECTION J: FINAL RETURN TO THE CITY......................................................49 SECTION K: ATTACHMENTS ....................................................................50 RFP REGISTRATION FORM (EXHIBIT A) ,........... ....................................50 RFP SUBMISSION FORM (EXHIBIT B) ................................................... 52 THRESHOLD QUALIFICATIONS & STANDARDS....................................79 CERTIFICATION(EXHIBIT D) ..............................................................119 DISCLOSURE/DISCLAIMER (EXHIBIT E) ............ ....................................120 PROPOSER'S ORGANIZATION HISTORY/STRUCTURE & CHART ............122 ADDITIONAL INFORMATION............................................................123 0 e lX CITYOF MIAMI FIRMS..................................................................123 LEASE AGREEMENT AFFIDAVIT ......................................................124 Request for proposals for A Lease of City -Owned Rwerfront Property `4 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. atia `r — a V � . ISR • i. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY A. THE PROJECT Riverside wharf, a $18M waterfront re -development project will be Miami's center of gravity for dining and entertainment, along the Miami River. "+ 1. AERIAL VIEW LOOKING EAST Riverside wharf will consolidate under one single unified seamless urban experience, the development of the City of Miami's Property, hereinafter "Property", subject of this RFP, alongside with properties either owned or controlled by the Proposer, Riverside wharf, LLC. hereinafter "RW". - ,- CITY OF MIAMI PARCEL. NOT PART OF RFP L� ME BREAKDOWN NW RIVER" PROPERTY OYREO BY PROPOSER FOR REFERENCE ONLY - NOT FAIR OF THE RFP SITE 7 OLF. RFP • CITY OF M&AM PARCEL 9iE i 51,34§ S.F. MLAMI RPIER Request for proposals for A Lease of City -Owned Riverfront Property 3 L� TH15 DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY The Property consists of 32,000 sq. ft. of land, with approximately 264 lineal feet of frontage along the Miami River. On the City property we plan to develop a new Garcia's Seafood Restaurant and Raw Bar conceptwith approximately 4,000 sq, ft, of dining space; and. a fish market. Garcia's will be the cornerstone of the development; and rightly so, given their historic presence along the Miami River for more than 50 years. In many ways, Riverside Wharf is not just about Miami's future, but also about preserving our past. CURRENT SUE CURRENT GA RCIA'S RESTAURANT Alongside Garcia's will be a 11,000 sq, ft, restaurant, which will be custom built to the needs of the restauranteur in order to attract the highest caliber of qualified operators to the site. It is our 40 vision that the restaurant concept should dictate the architectural look and feel of the space. On either side of the City Property, RW either owns or controls properties immediately to the North and South of the City's property. This in a nutshell is the key value of this Proposal to the City of Miami, which is the ability to carry out a harmonious and unified riverfront development from 1-95 on the South to NW 1 st Street Bridge on the North. Together the RW properties add an additional 27,000 sq. ft. and 278 lineal feet of riverfront to the assemblage, for a total land area of 59,000 sq. ft, and 599 lineal feet of frontage as depicted in Figure # 1 below. More importantly, the abutting property increases it's frontage along North River Dr. from 54 linear feet. Effectively increasing it's street frontage by 7 times. This eliminates the largest obstacle to a development of the City Parcel which it's lack of a reasonable street frontage to provide gropes ingress and egress and proper view corridors. f1GURE I- LANDSCAPE PLAN J Request for proposals for A Lease of City -Owned Rlverfront Property 4 • THIS DOCUMENT !S A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY RW is committed to developing both its property and the City Property with low-rise development that will be at or under 75 feet in height, with a focus on pedestrian areas, plazas, breezeways and view corridors. AERIAL VIEW tOOK)NG NORTHEAST Combined with the City Property, this public/private partnership will bring four (4) unique restaurant Operations to the Miami River, helping to create Riverside Wharf as Miami's premier seafood dining destination. The combined four (4) restaurants with a combined air conditioned is space of 33, 703 sq. ft., with a seating capacity in excess of 1,200 seats; is projected to generate 300 permanent jobs and more importantly, save 30 fishing jobs. These jobs in the F&B industry will be an opportunity for the local and minority community. B. THE PROPOSER: RW -MIAMI ENTREPRENEURS, WITH A PRESENCE IN THE AREA AND COMMITTED TO PRESERVING THE PAST The Proposer, Riverside Wharf, LLC, consists of Alex Mantecon and Guillermo Vadell two Miami hometown raised entrepreneurs that are living the American Dream. After graduating from College, Alex worked in the financial and real-estate markets as theVP of a multinational $1.6 bin Hedge Fund; and in 2008 started MV Real Estate Holdings LLC together with the help of long-time friend Guillermo Vadell. Guillermo has been acquiring, managing and disposing of real-estate for 15 years and has successfully transacted on over 300 properties. Following the collapse of the real estate market Alex and Guillermo, focused their financial skills on the opportunities presented by South Florida's distressed real estate market; and started acquiring properties in the region. One of these properties abuts the City Property, on its Northern boundary; and, they also control under a long-term lease the property that abuts the City's property on its Southern border. Just as important, they are finalizing construction across the street on a 100,000 sq. ft. mixed-use 9 story retail, restaurant and self storage facility, where they have actively involved FIU and its art students in a public mural as part of the project. This building is slated to house an amazing 11,000 sq, ft. rooftop restaurant with some of the a r•�sr./r ! I r.v� Request for proposals for A Lease of City -Owned Riverfront Property 61 1-1 r1 �J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY most breathtaking views of the Miami River and the downtown skyline and further cementing Riverside Wharf as a culinary destination in Miami. The proposers are also having the Garcia brothers as part of their bossiness team. Esteban Garcia & Luis Garcia are involved in the day-to-day operations of all aspects of Garcia's Restaurant. They aim to continue to evolve the dream and the aspirations of their father, to be the very best seafood in the city. Today, they continue to offer a steady supply of their locally caught seafood, prepared to perfection. C. THE DEVELOPMENT TEAM: BERME LLO, AJAMIL & PARTNERS - ARCHITECTS AND ENGINEERS RW's development team consists of an all-star cast, consisting of the architectural engineering firm of Bermello, Ajamil and Partners, Inc. ("B&A"), headquartered in Coconut Grove, where they have had an enormous influence in the City's urbonscape with award winning design projects stretching from Coconut Grove to Brickell, and north of the Design District. MCM GENERAL CONTRACTORS Joining B&A is MCM General Contractors, the largest Hispanic contractor in the United States with a $1 Billion dollars bonding capacity, and a broad experience ranging from civil works including sea walls, marine piers and bridges, to multi -story mid and high-rise buildings. Working jointly with B&A, MCM recently completed the County's Terminal "D" at Port of Miami, which has been recently certified LEED Silver: and MCM is currently building the mid -rise mixed-use "retail and self -storage complex" across the street form the subject property. GREENBERG-TRAURIG - LEGAL RW's legal counsel for land use, RFP compliance and lease negotiations, is the renowned national law firm of Greenberg Trourig. KONIVER STERN GROUP - RESTAURANT/RETAIL BROKER Rounding out the RW development team is Lyle Stern, of Koniver Stern Group, one of South Florida's, premier commercial brokers, specializing in foodibeverageand restaurant experiences. Their mandate is to bring along with the future Garcia's Restaurant Oyster Bar and Fish Market, the most enticing complex of dining and entertainment experiences to Riverside Wharf. OCEAN CONSULTING,LLC - MARINA DESIGN Ocean Consulting, LLC establishes its integrity in the environmental consulting world by providing strategic solutions to complex environmental projects in the coastal & waterfront marketplace, both domestically and internationally, Ocean Consulting has realized the visions of numerous clients through thoughtful, aggressive, cutting-edge strategies that provide sustainable solutions to environmental and engineering hurdles in the most cost-effective manner possible. Request for proposals for A Lease of City -Owned Riverfront property 6 1-1 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY Note: Riverside Wharf: Garcia's Restaurant, B&A and MCM are majority owned by Hispanics; and all are headquartered in South Florida. Please refer to the Organizational Chart found in Section K for additional information regarding our Local and Minority Representation. D. THE RIVERSIDE WHARF DESIGN FEATURES MAIN ENTRANCE LOOKING NORTHWEST The design of Riverside Wharf by B&A is a striking architectural statement which presents a juxta position of maritime industrial vocabulary to recall the area's past, within a modern framework of sculptural steel, sheet metal, concrete and glass. The theme recalls the origins of the "working river" and as such, makes an iconic statement along the riverfront. S A 14 PARK'N3 'ARK W � � a ]IT .�C.,d MIAM�I1Iy1-R '"�" _ :OSE MAIRTI PARK 1 ' 1ARKMG F` f RI VERIFRONT OPEN SPACE 41Pe,,4r le f 1 �al RIVER CROSS SFC170N Request For proposals for A Lease of City -Owned Riverfront Property VA • In u THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT TME END OF THIS DOCUMENT. B EXECUTIVE SUMMARY The design features four (4) 2 -story restaurants with roof top gardens, creating the wharf along the Miami River, enclosed by a fish market at the East, but characterized by its low density and openness, consisting of plazas, breezeways; and, promenades, Over 60% of the combined land area is usable open space. E. COMMUNITY BENEFITS The proposal by RW will be a "community driven" development, where instead of focusing on the highest and best use, RW and its development team focused on the "most appropriate use and highest public benefits" while still being economically feasible. If approved by the City of Miami, RW's proposal will result in the following public benefits: - qor ^v WNATMRNEROiWE _ - ARGpREARH01NL 1&2 ,SRFI.aREMmwm.ffi l A•EA ORCAFDOMM 'MIE2 IWAL GPM B,A.DWO: SIMS OF WAORAM, MWAdMAFRz Mi7A4MME3 �uw 4 GRpuNu 2,808 SF CfkOum0- 5]06 SF GRW1A 31. IT SIF GROLMp 0.715 U 70TALORMUM 50.M5:1 M 5ECOWG', 2.896 9F SECONCI 0.621 SF WOW t.%T SF '$Ecc7 1.%0 SF TOTALGR"DFLOOk DUN LF IMAL OPVN ARCk 3&A 7 6F TQTAL: &SM V TOTAL 87,010 OF T A4. A OF 1pTAl lam SF GROUND LEVEL SRF PLAN • Garcia's Seafood Restaurant & Raw Bar concept will be the centerpiece of the development along with Garcia's Fish Market, thus preserving the City's rich historic past in the Maritime industry. • A continuous riverfront promenade that will extend from 1-95 to NW 1 st Street Bridge. • Three (3) plaza and breezeways entries will provide exciting "view corridors" to pedestrians and motorists along North River Drive. RIVERFRONT CONTINUITY SIQl..T_ 1 _J_j RIVERFRONT VIEW CORRMORS Request for proposals for A Lease of City -Owned Riverfront Property THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. B EXECUTIVE SUMMARY • Over 60% of the combined land area will be usable open space, available to the public. In addition, the central plaza will have an interactive water feature, plus a fish weighing station for fishing boats, and a Riverside Wharf selfie-stand for visitors and tourists to have their photo taken. • Temporary docking for over ten (18) leisure yachts will be provided for, along the continuous 599 ft. bulkhead from the combined properties • Riverside Wharf will be low rise in character, with no building or structure exceeding three (3) stories or 75' in height. • RW and MCM is committing to 10057o local hiring in terms of subcontractors: hired laborers and vendors. In addition, each of the four (4) restaurants will attempt to achieve 30%p minority hiring goal: and a 100% local labor hiring goal, except for the hiring of the "chef" and "sous chef" positions which will be open to the best available candidate. (Please see the Additional Information in Section K for more information on our program and outreach goals.) F. REVENUE/RETURNS TO THE CITY Pursuant to RW's commitment to preserve a marine character, fish market and low density development, while dedicating to more than 60% of the consolidated properties footprint to usable open space, enhancing public access and enjoyment of the waterfront, ultimately limits the revenue potential of the property. Notwithstanding. RW's offer to the City will almost double the City's current ground rent on the property, and provide the City with a minimum Guaranteed rent in excess of $22 million over the life of the lease while accomplishing the following tangible benefits to the City: • The City's Property will undergo an improvement in excess of $6 Million taking into account the new Garcia's Restaurant & Oyster Bar + Fish Market: and the neighboring 11,000 sq. ft_ restaurant and entertainment Complex. • The Riverfront shoreline currently in need of major repair will be replaced with a code and FEMA compliant seawall, bulkhead and riverfront promenade. • The adjoining properties, currently vacant will be similarly improved with another $6Million improvement in the other two (2) restaurants on private property. The modest contribution to the City's tax base would not be taking place, if not for this City initiative. / Request for proposals for A Lease of City -Owned Riyerfronr Property 9 t fir- _ 1 �_i :'!TS► � - �1 iC. Y� ��i r 4��4 .. . _�r� �' �'f•ti -'� "ham �' "�3 +�*•- ,� 4'�vr' vir, 01 ..� tip► i Ar y-�►... F f r r AA1 ••�' d8j IVA: /j�P OV, •. _ VI m Q z w ,7.-''-- L Ik r I 'cn 0 • u THIS DOCUMENT IS A SUBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENE) OF THI5 DOCUMENT. 4 VISION, GOALS AND OBJECTIVES OF PROPOSED PROJECT The area immediately surrou ndi ng the proposed project has historically been an underdeveloped and blighted area in the City of Miami despite it's proximity to Downtown Miami and its strategic location on the Miami River. This section of the Miami River has historically been associated with seafood operations and restaurants with businesses such as The East Coast Fisheries which had fishing operations and a restaurant, Miami River Lobster which is directly across the Miami River and on the abutting parcel just south of the property. Seafood restaurants such as Garcia's Seafood and Grille, Casablanca and most recently Sea Spice have helped brand this river district as a gastronomical destination. The City of Miami Property subject of this RFP, has been occupied via a month-to-month lease by the Garcia Family which owns and operates Garcia's Seafood Grille & Fish Market for decades. Gorcia's has used the Property as a staging area for lobster traps and as an unloading dock for fresh seafood that is caught in our local waters in order to cook and sell them in their restaurant and fish market just down the street. The Proposer'svision is to develop the Property as the riverfronts premier destination for dining and entertainment, and to revitalize the immediate area in a way that is compatible and respectful of the character of the Miami River and the area's history. We propose to incorporate the City of Miami's Property into a larger assemblage of waterfront land alongside with a riverfront parcel currently owned and controlled by the Proposer in an effort to create Miami's first "Fisherman's Wharf". The Proposer will develop four (4) waterfront restaurants (2 of which will be built on the City Property) and lease the restaurant spaces to qualified restauranteurs. In addition, the Proposer's Team will develop and operate a Fish Market and commercial fishing operation, that will buy fresh seafood from local fishermen, Garcia's Seafood and Grille wilt open a new Request for proposals for A Lease of City -Owned Riverfront Property 10 • 0 THI5 DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. C VISION, GOALS AND OBJECTIVES OF PROPOSED PROJECT concept restaurant / oyster bar which will revolve around the fresh catches of the day and celebrating the seasonal local catches such as stone crabs, lobster, blue crabs, swordfish, tuna, etc... Riverside Wharf will be a "River Centric" development focused on seafood, boating, dining, entertainment and water activities, providing both public accessibility to the waterfront while energizing the river's edge with activities for dining and entertainment. PERSPECTIVE VIEW LOOKING NORTH We intend to see this vision thru by successfully achieving the following goals and objectives as outlined below: Support the local fishing community - Proposer's team will own and operate a local fish market that will sell locally caught fish, lobster, shrimp, crab and other seafood to residents and visitors of the City of Miami. This Fish Market will also act as a localized distribution point to the various restaurants that we will develop on the Property and the abutting parcel that we currently own. The ultimate goal is to provide a true Sea -to -Table dining experience in which the seafood is prepared in each restaurant's unique style and interpretation. This allows us to NOT displace the local fishermen and actually create new opportunities for them. Request for proposals for A Lease of City -[awned Riverfront Property 11 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN 8E SEEN AT THE END OF THIS DOCUMENT. C VISION, GOALS AND OBJECTIVES OF PROPOSED PROJECT 2. Create a waterfront promenade that is connected to the rest of the Miami River Riverwalk - We, as Proposers, currently own and / or control the abutting properties immediately North and South of the City of Miami Property. We intend to not only build the Riverwalk along the River's edge, but we will also build the Riverwalk on the abutting parcels which we control and thus complete the missing links of the Riverwalk. 3. Create a seafood centric dining destination that is unrivaled in Miami - We will develop the Municipal Property, in conjunction with our abutting properties in order to create a world class waterfront dining destination that will attract some of the top restauranteurs in South Florida. 4. Create a boating dining destination -With all the water frontage and coastline that Miami has, there is an extremely limited number of options for transient dockage, in which a boater can dock for a couple of hours and enjoy a nice meal. We will unify the Property's seawall together with our abutting sea wall in order to offer approximately 600 feet of continuous marina dockage. The patrons will be able to dock and enjoy a meal after a day of boating. PERSPECTIVE VIEW LOOKING SOUTH YACHT LAYOUT 5. Provide a unique "Miami River" experience - We have designed the project with the character and experience of the Miami River to be front and center. This can be seen in everything from the materials used for the construction to the shapes and styles of the architecture. We have also incorporated (3) large view corridors as well to provide visual connectivity between the river and the view from either the road, or surrounding neighborhood. We have designed the restaurant experience to be open with an inside/ outside connection to the water with large outdoor terraces and plazas. Thus making the Miami River the main focus of the development. Request for proposals for A Lease of City -owned Riverfront Property 12 C7 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. C VISION, COALS AND OBJECTIVES OF PROPOSED PROJECT 6. Revitalize the area - The area surrounding the City Property is currently blighted and in disrepair. We will revitalize this stretch of riverfront land by unifying the City Property together with the abutting parcels which the Proposers already own and control. The Proposer will leverage each of the property's strengths in order to achieve a development that will be more than the sum of its parts. The Proposers will also invest in improving and beautifying the public right of ways and surrounding ground -level parking lots in order to not only improve the area, but also convert it into a destination. LANDSCAPE PLAN Request for proposals for A Lease of City -Owned Riverfront Property 13 SEEN AT THE END OF THIS DOCUMENT. �4 Wf 710 Ulm ol �,� ullmlmrWu lurlrnnunn t 11111111111TEnl IRI11111111114 To rvi ' _ '� ' tnurururnit . . 1lIIIIIIIIIIUq I��-- '�" ..�uilnrnmr AlIISIE i �` 4► W m n 0 z Ls �. J • t.� THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. D COMMUNITY BENEFITS Riverside Wharf has a great potential to be a strong generator of jobs for the residents of the City of Miami while at the same time creating a public space that can be enjoyed by all residents of the City of Miami as well as tourists and visitors. The entire Riverside Wharf Development is slated to create 310 temporary jobs during construction; and a total of 150 long term permanent jobs estimated to be on the City's Property. A detailed analysis of the anticipated economic impacts can be found in the attached Market Analysis prepared by INTEGRA. In summary, Riverside Wharf will provide the following Community Benefits: 1. A Fish Market that will employ local fishermen and preserve the local fishing community. Our development takes into account the current local fishing jobs. We intend to maintain and preserve the existing maritime jobs. We will be providing the existing local fishermen that are on the Property and others, a venue in which they will be able to unload and sell their daily catch. The fishing vessels currently moored on the property will be relocated to other properties owned by the Proposers' team further up the River. 2. Continuity of the Miami River Walkway. Riverside Wharf will commit to build the Riverwalk on the Property and on the two j2j abutting parcels in order to provide full Riverwalk continuity from the 1-95 right of way to the NW 1 st Street Bridge. By doing this, the Riverwalk will then be fully interconnected Southeast up to Biscayne Bay and North to the new Sushi Samba restaurant currently under construction past the 1 st Street Bridge. The Proposer currently owns the property immediately north of the Property, and has an Option to Lease on the property to the South -- effectively controlling the missing pieces necessary to connect the Riverwalk at both ends of the Property. ER ST MIAMI RIVER S SW tST STAL3 J '+r� ► _ i SW 2NO ST J r LI Z rose PP SW 3RD ST all J% erWERFROW CON' )TY iV FLAGL.ER ST 9.r I - _ SW IST ST - SW IND ST Request for proposals For A Lease of City -Owned Rlverfront Property 14 • • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. D COMMUNITY BENEFITS 3. View / Access Corridors. This Property currently has very little frontage (54 Feet) along SW North River Dr. In order to achieve a view corridor while still providing for a valet drop-off area, we have included 2 view / access corridors in our abutting property on North River Dr. The Valet drop-off area and pedestrian sidewalks will be interconnected with the view / access corridors in order to provide unfettered public access to the Riverwalk and the Miami River from North River Drive via the various public corridors, breezeways and plazas. 4. Frontage to the Miami River. Riverside Wharf will develop the entire 264 linear feet of the Property's Frontage on the Miami River. In addition, as Proposer we also commit to develop our abutting property's frontage along the Miami River, which consists of 335 linear feet for a total Frontage to the Miami River of 599 linear feet. 5. Improvements to the streets. Riverside Wharf will improve and beautify the surrounding streetscapes as depicted herein with decorative street paving; light bollards; street trees and festive decorative street lighting . These improvements are estimated to cost in excess of $750,000.00 in public streetscape improvements. 6. low Scale Development. The proposed development will be a low scale development, maximum 3 levels with a maximum height of 75 ft. We are committed to creating an '.outdoor experience" that is people friendly, accessible and memorable. 7. Relocation plat, of existing fishermen. The Proposer's team will be relocating the lobster trap storage and fishing vessels currently residing on the City property to a property secured by the Proposer's team at 710 & 722 NW 7th Avenue inside the City of Miami and with capacity to house all the existing boats and lobster traps on-site. This will allow the fishermen to continue working without any interruption throughout the development process and not lose a very valuable employment base in our community and with only an extra 5 -minute commute up the River. Request for proposals for A Lease of City -Owned Riverfront Property 15 .k or jo 7,N 11 'mr-as or Mti �l I (A • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. E PROJECT PLAN NARRATIVE DESCRIPTION Riverside Wharf is a $18Million riverfront re -development project consisting of a restaurant and entertainment complex along the Miami River, extending southward from NW 1 st Street Bridge to the 1-95 Expressway Right of Way. The project consists of four 2 -story restaurants with roof top gardens; and a fish market with docking for fishing boats to unload their catch for processing. Riverside Wharf consolidates from a planning perspective the City Property, subject of this RFP, together with 2 adjoining properties, one owned and the other controlled by the Proposer RW, thus creating a seamless unified development project, which will provide the remaining link to complete the Riverwalk's connection to Biscayne Bay. The following is a development summary of the proposed project: A. LAND AREA a. City of Miami Property/RFP (Site 2) ....................................... 31.949 sq. ft. b. Parcel owned by RW (Site 1) ................................................ 26.837 sq. ft. c. Land Lease by RW............................................................... 1,631 sq. ft.* d. City of Miami Property/Not part of RFP .................................... 4,018 sq. ft.* e. Total Land Area................................................................. 64.435 sq. ft. *These areaswill be landscaped and beautified by RW to provide Riverwalk Promenade continuity and enhance public access. On part of the City's parcel, FDOT will extend the bulkhead, fill and build the NW 1 st Street Bridge Head House and Equipment Room. B. RIVER FRONTAGE CONTINUITY a. City of Miami Property/RFP (Site 2) ................................................ 265 LFT b. Parcel owned by RW (Site 1 ) ......................................................... 278 LFT c. Land Lease by RW........................................................................ 56 LFT" d. City of Miami Property/Not part of RFP ............................................. 87 LFT* e. Total Land Area........................................................................... 686 LFT Request for proposals for A Lease of City -Owned Riverfront Property 46 • E PROJECT PLAN C. RESTAURANTS, BARS, ENTERTAINMENT & FISH MARKET THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL.BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Restaurant Bar & Entertainment a. City of Miami Property/RFP (Site 2) .......................................... 14,441 Sq. ft. b. Parcel owned by RW (Site 1 ) ................................................ 17,534 Sq . ft. c. Land Lease by RW........................................................................... N/A d. City of Miami Property/Not part of RFP ................................................ N/A e. Total Building Area............................................................... 31,975 Sq. ft. Fish Market 1,728 Sq, ft. N/A N/A N/A 1,728 Sq. ft. ARA 9nIWi AWA /WfAiM70,WFan, 4 effit-107�*R2 10TA40MMM«DOW, MAO 0 899AWROU ffiBFNI Ts 10naffimsm- OA. w 0 Gn z,eetz. v rnolmo: 5" 5vROOK 'SEC ?A 5E SECOW M, 6a' nwou,o. aan sv ar+oue,u r,s 8F 5€074 ,.WT,, SEGO -O ,AW RP TOTAL OROI� : �. ITOTµ.; MT O/g,A!!,a lIg.Y1T 14 ^* V TV TOTAL SA" W TOTAL 44N6 GROUND FLOOR SITE FLAN D. TRANSIENT MOCKING & FISHING BOATS As shown in the graphic below, the entire riverfront frontage is designated for transient dockage with up to 9 berthing positions assuming yachts in the 42 ft. category-, and three (3) designated berthing positions at the south end and adjacent to the fish market. YACHT LAYOOT Request For proposals For A Lease of City -Owned Riverfront Property 17 r� r� THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENC] OF THIS DOCUMENT. E PROJECT PLAN E. PARKING PLAN Given the nature of the property's narrow depth and limited land area, it is impassible to provide "on-site" parking as part of the development. Consequently, RW initiated discussions with Mr. Art Noriega and the Miami Parking Authority to enter into shared use agreements for weekday lunchtime valet service on Lot 15, where MPA has 269 spaces: and a shared use agreement for nighttime use by restaurant patrons at Lot 17 where MPA has 124 spaces. In addition, Lot 14 which is a bit more remote has 187 spaces available for "overflow". Considering the D3 - Waterfront Industrial Parking Requirement prescribes a minimum parking requirement of three (3) parking spaces for every 1,000 5F of commercial space, RW will, at all times exceeded the 102 required spaces. The following diagram shows the distance relationship between Riverside Wharf and Lots 15, 16 and 17. PARKING LOT #15 JC - U — � NMr orov� r' PROPEM Orn+M BY PROPOM FM NOTPARTOFTW1"NOT PART OFAN /I/. ___ Yj I/ PARK(NG DIAGRAM %rr°i3v 1 PARKING r (�) LOT #16 PARKING 24.4° - LOT #17 RFP ° OTTT OF MIAM PA ML Request For proposals for A Lease of City -Owned Riverfront Property 18 Q0 968 W FLAGLER ST \^ SW 4TH ST CONTEXT PLAN W FLAGLER ST SW 1ST ST J i B6' Sol, 320'+, NYW THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ba AF - of F ME■L jLl l- L .. PRI AiL 40, ..=- .► ri►` zC- F Q il�F \ y ' sse W FLAGLER ST INN Q, 4Q, Q0 SW 1ST ST SW 2ND ST 4 lop", 5 MIAMI RIVER, 11 'JOSE MARTI, PA5 m SW 3RD ST Q0 SW 4TH ST RIVERFRONT CONTINUITY Q1, W FLAGLER ST 95 SW IST ST 7 1 m N I iso IN THIS DOCUMENTIS A SUBSTITUTION TO ORIGINAL. BACKU� ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ba 21 6—Ay 6 N— bye 14 ar 968 Q�Q Q14 rVMIA�MLI�R�_JIVER S 1ST ST a r, SW 2ND ST m SW 3RD ST i. 2ty MIAMI RIVER JOSE MARTI PARK m i SW 4TH ST RIVERFRONT VIEW CORRIDORS SWlSTST ffi ffll�ffl - - I", THIS DOCUMENT IS A SUBSTITUTION TO ORIGMAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ba aero ,ere. Al- �. - in 968 FM—IA L— SW ATH ST I V 49 W THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE RIVERFRONT OPEN SPACE Vers ri t SEEN ATTHE END OF THIS DOCUMENT. ba 23 po • 0 C D C7 a �7 NW RIVER DRIVE CITY OF MIAMI PARCI NOT PART OF RFP L- SITE BREAKDOWN 0 f, PROPERTY OWNED BY PROPOSER FOR REFERENCE ONLY. NOT PART OF THE RFP f L. - SITE i f _ f f RFP - CIM OF MIAMI i - SITE 2 31,949 S.F. MIAMI RIVER THIS DOCUMENT ISA SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. V 10' Ti' 6p' BD' N V! 624 6em�elb Marna Fanners. Inc :j PADVING #15 �G1IY9E�NAMIp�RCI NOT PART OF RFP PARKING DIAGRAM 6� NW RIVER DRIVE PROPERTY OWNED BY PROPOSER FOR REFERENCE ONLY. NOT PART OF THE RFP THIS DOCUMENT IS ASUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. MIAMI RIVER O "'A 244' - RFP - CITY OF MIAMI PARCEL PARKING i LOT #16 PARKING LOT #17 of m• w as w NE�) ba25 01-1m Mame a N-- i�, • • • eco YACHT LAYOUT � R, E ky ON NW KI 7RTH RIVER DRIVE a• so• zv aa ea N "' THIS DOCUMENT ISA SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE ba SEEN ATTHE END OF THIS DOCUMENT. Bem A� 4 6 Peeve Ll -- a - Ar J(JekA. f - WE ,J/,�/' THIS DOCUMENT ISA SUBSTITUTION TO AERIAL VIEW LOOKING T� St j� SS EINIATTHEENDOFFTHIS OCUMBACKUP ORIGINAL CANENT Da 27 EAST %—� A—� s %—e.. Iwo "Na ilii =6 ------ ---- _ f,-IRq�„M 0 AL � II ysi . C -'��. - ►� ;a�� _ ''r p, ; � � � f I X11 I'��1 I II .i I i� r � I 91 !` - �� 1; i Ile �A; Ijl II \ e t � / Wit" rt7A�wA �. L - � ■ yy iM- w 7 _nom 1. �. AN woo. op 1 -77% X ,r - 1 � AM E 00 Alm I a , AM i'. ,�j 'r - ` ,�• {a�� r �r'�r_i � t � inr��l� ii1�;� :`► " 3. a A WI - r irk OUR 44. 4� Q) i PARKING ac NW NORTH RIVER DRIVE —^------- / E / CITY OF MIAMI PROPERTY = REST4lIRANTI_�^- r NOT PART OF RFP y--_ - 4; _----_-- RESTAII&ANT2 r z_ ,r _ SITE 10 6 / MIAMI RIVER AV� // R£STAURARC9 - � SITE UWAURANTI AREA BREAKDOWN- SITE 1 & 2 AREA BREAKDOWN—SITE 1 TOTAL GROSS BUILDING: 33,703 SF RESTAURANT 1 RESTAURANT 2 GROUND: 2,808 SF GROUND: 5,305 SF TOTAL GROSS SITE: 58,785.7 SF SECOND: 2,800 SF SECOND: 6,621 SF TOTAL GROUND FLOOR: 20,305 SF TOTAL OPEN AREA: 38,480,7 SF TOTAL: 5,608 SF TOTAL: 11,926 SF AREA BREAKDOWN- SITE 2 RESTAURANT RESTAURANT GROUND: 3,477 SF GROUND: 8,715 SF SECOND: 1,987 SF SECOND: 1,990 SF TOTAL: 5,464 SF TOTAL: 10,705 SF TOTAL GROUND FLOOR: 8,113 SF TOTAL GROUND FLOOR: 12,192 SF • TOTAL BUILDING GROSS AREA: 17,534 SF TOTAL BUILDING GROSS AREA: 16,169 SF TOTAL SITE AREA: 26,836.6 SF TOTAL SITE AREA: 31,949.1 SF GROUND LEVEL SITE PLAN R ersc�; v io zv an ea' NE) THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BEba SEEN AT THE END OF THIS DOCUMENT. 33 6-0. AI . 6 Rarvg - n LJ 0 NW NORTH RIVER DRIVE _ T ! CITY OF MIAMI PROPENfY f! Yr NOT PART OPRFP / J RESTAURMTI RESTAURANT ] � SITE 1 J MIAMI RIVER01 /' ResAONAN T SITE 2 AREA BREAKDOWN- SITE 1 & 2 AREA BREAKDOWN- SITE 1 AREA BREAKDOWN- SITE 2 / RESTAURANT 1 RESTAURANT 2 RESTAURANT 3 RESTAURANT 4 3IV GROUND: 21808 SF GROUND: CO- GROUND: 3,477 SF GROUND. 8,715 SF TOTAL GROSS SITE: 58,785.7 SF SECOND: 2,800 SF SECOND: _ T ! CITY OF MIAMI PROPENfY f! Yr NOT PART OPRFP / J RESTAURMTI RESTAURANT ] � SITE 1 J MIAMI RIVER01 /' ResAONAN T SITE 2 'NESFAURANTa a. --- PAR LELUopEI EA5E1 R - YOP OPOSER ` THIS DOCUMENT 15 A SUBSTITUTION TO 2ND LEVEL SIVE PLAN ORIGINAL. BACKUP ORIGINAL CAN BE �` SEEN AT THE END OF THIS DOCUMENT. Erm Mamas a:- loo AREA BREAKDOWN- SITE 1 & 2 AREA BREAKDOWN- SITE 1 AREA BREAKDOWN- SITE 2 TOTAL GROSS BUILDING: 33,703 SF RESTAURANT 1 RESTAURANT 2 RESTAURANT 3 RESTAURANT 4 GROUND: 21808 SF GROUND: 5,305 SF GROUND: 3,477 SF GROUND. 8,715 SF TOTAL GROSS SITE: 58,785.7 SF SECOND: 2,800 SF SECOND: 6,621 SF SECOND: 1,987 SF SECOND: 1,990 SF TOTAL GROUND FLOOR: 20,305 SF TOTAL OPEN AREA: 38,480.7 SF TOTAL: 5,608 SF TOTAL: 11,926 SF I TOTAL: 5,464 SF TOTAL: 10,705 SF TOTAL GROUND FLOOR: 8.113 SF TOTAL GROUND FLOOR: 12,192 SF • TOTAL BUILDING GROSS AREA: 17,534 SF TOTAL BUILDING GROSS AREA: 16,169 SF 31,949.1 SF TOTAL SITE TOTAL SITE AREA: 26,836.6 SF AREA: 'NESFAURANTa a. --- PAR LELUopEI EA5E1 R - YOP OPOSER ` THIS DOCUMENT 15 A SUBSTITUTION TO 2ND LEVEL SIVE PLAN ORIGINAL. BACKUP ORIGINAL CAN BE �` SEEN AT THE END OF THIS DOCUMENT. Erm Mamas a:- loo i _ - - _ = rr II-- - -- - -- - -- - -- - -- - -- a�mann RESTAURANT1 owl � RESTAURANT2 4 3 SECOND FLOOR _--------_--_-1 ----------- -- P----- / RESTAURANTI I Q ao. bow L r • SITE 1 NOT PART OF RFP. FOR REFERENCE ONLY. RESTAURANT 1 & 2 � RESTAURANT 2 �AT r � �r r � F GROUND FLOOR 0' 1o' 20' 40' N� THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ba,, n ASN s Pa,wra. M. euwt (y RESTA NT 3 °c 19 SECOND FLOOR • RESTAURANT 3 GROUND FLOOR ,m zn aoN� THIS DOCUMENT 15 A SUBSTITUTION TO �.�. ORIGINAL. BACKUP ORIGINAL CAN BE ba SEEN AT THE END OF THIS DOCUMENT. e- Awed 6 Pert Here. Mc RESTAURAN! v T r SECOND FLOOR • RESTAURANT 4 r \,x \ RESTAURANT AREA BREAKDOWN GROUND: 6,995 SF GROUND FLOOR RESTAURANT SECOND: 1,990 SF TOTAL: � FISH MARKET GROUND: 1,72$ SF 70,705 SF Na ,a nr ao THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN �� )))e j„j, SEEN AT THE END OF THIS DOCUMENT. 37 0 • SECTION 1 MAIN PLAZA RESTAURANT ✓r Li -77 z 20''� � THIS DOCUMENT IS A SUBSTITUTION TO J ~ ORIGINAL, BACKUP ORIGINAL CAN BE m LLI SEEN AT THE END OF THIS DOCUMENT. a- cn I 0 O d I W I IQ ' ^IAMI RIVER RIVERWALK f I JX MAIN PLAZA RESTAURANT ✓r Li -77 20''� THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE ba SEEN AT THE END OF THIS DOCUMENT. 04 y—� s3aanes.I- �J MIAMI R 0 T THIS DOCUMENT 15 A SUBSTITUTION TO CKUP ORIGINAL CAN BE SECTION 2 / \( S P/ SEEN I'ATTHEAENDOFFTHIISDOCUMENT. 3cw— �c 9 0 n u THIS DOCUMENT IS A SUBSTITUTION TO INAL CAN BE SECTION 3 Ph.S SEEN IIAT THE END OFF TNAL. BACKUP HS DOCUMENT. ba 40 perengN (ypmtl 6 PBRb?. Inc I I a '-'ALM VXM 1 ••:POMWALK MMI PLATA I jr If KESTAf1R 3 I (I f I - t � w I I GRAPHIC SCALE: a ,G sv I I I GIUPIMC SCALE - o m r� THIS DOCUMENT 15 A SUBSTITUTION TO RIVERWALK SECTIONS ORIGINAL. BACKUP ORIGINAL CAN BE vilpa SEEN AT THE END OF THIS DOCUMENT. 6mnela ApM s „� "►s a 4 -, k i • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. F OPERATIONAL PLAN OPERATIONAL PLAN The Proposers have assembled a world-class team to oversee every aspect of this project. Every detail of the plan has been vetted, validated and carefully thought out in order to ensure that it will be a world-class project that the Proposers, as well as the residents of the City of Miami, will feel proud to have in their "backyard". Similarly, the Proposers have paid attention to assembling a similarly talented team to oversee the operations of the project. Fish Market, Commercial Fishing Operations and Seafood 1 Raw Bar Concept This will be managed by Luis and Esteban Garcia who have been involved with Restaurant operations, a fish market and commercial fishing for the better part of their lives. Garcia's Fish Market will be a retail venue which will sell all types of locally caught fresh seafood. The Fish Market will operate from 11 am to 9 pm 7 days a week with a staff of six (6) employees. The nature of the commercial fishing industry is that most commercial fishermen operate as independent contractors. Garcia's personally own and operate various boats but they are looking to expand their business by employing more commercial fishermen. Our vision is to establish a direct channel between the commercial fishermen, that are mostly established further up the river, and the general public which longs to have a location in which they can be sure that they are getting the freshest seafood possible. The commercial fishing operation which will be built on-site will be able to handle thousands of pounds of fresh fish, lobster, stone crag, blue crab and shrimp and process it to be sold at the on-site Fish Market straight off the boats. This will allow the fishermen to get higher prices for their hard fought catch due to the elimination of a "middle -man" and costly packaging and transportation from distributors. The hours of operation for the commercial fishing operations will vary due to the varying seasons of the various types of seafood and the hours in which they are caught off -shore. The focal -paint of the project will be a new Garcia's Raw Bar concept which will also act as a venue to sell the local catch in an indoor 1 outdoor restaurant setting. This concept will be separate and distinct from the existing Garcia's restaurant just down the street and will seek to complement each ether. The hours of operation for the Garcia's Raw Bar concept will be from 11 am to 11 pm on Sunday through Thursday and until 2 am on Fridays and Saturdays. The restaurant & Fish Market component should cause an additional 45 jobs to be created. i`Lrc�:cri�e ! l /I -a/ Request for proposals for A Lease of City -Owned Riwerfront Property 42 J is THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. F OPERATIONAL PLAN Additional Restaurant The Proposal also has an additional restaurant on the South end of the property. The Proposers are currently in active discussions with various world-class restaurant operators which must remain confidential due to ongoing negotiations. Lyle Stern from Koniver Stern Group is the Restaurant Brokerage consultant who is attracting top -tier restaurateurs to the waterfront. Lyle has brought some of the most prestigious names in the restaurant industry to Miami and the Proposers are confident that this will be the case on this site. Recently Mr. Stern has recruited to South Beach, Starbuck's Coffee Company, Yard House, Meat Market & II Mulino. In addition, Stern has been responsible for representing World-renowned Restaurateurs Emeril Lagasse, Michael Chow (Mr. Chow) and Costas Spiliadis (Estiatorio Milos) in locating their restaurants in Miami Beach as well as bringing Chef Daniel Boulud to downtown Miami. Based on the square footage of the planned building, it is estimated that this additional restaurant will create an additional 104 jobs based on standard industry norms. Request for proposals for A Lease of City -Owned Riverfront Property 43 is THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. G MARKET ANALYSIS AND ECONOMIC FEASIBILITY MARKET ANALYSIS AND ECONOMIC FEASIBILITY Riverside Wharf is the culmination of many hours of planning in order to create a destination that may not necessarily be the highest and best use FINANCIALLY for the developer but it certainly is the highest and best use for the residents of the City of Miami. The Proposers had the ability to Propose a development on the site in excess of 150,000 sq ft of building on 80% lot coverage with 123 feet of height and without the requirement to construct a Riverwalk due to its Marine Industrial zoning. Instead, the .Proposers are proposing less than 20.000 sq ft of building on less than 40% lot coverage with a max height of 75 feet and a Riverwalk with view corridors from the street. This was only achievable by leveraging on the efficiencies afforded by creating a larger assemblage and simultaneously developing the abutting parcel. This larger assemblage also helped to mitigate some of the shortcomings of the site such as its irregular shape, proximity to 1-95 and only 54 feet of frontage on North River Dr. Notwithstanding the above, the Proposal is a conservative and economically viable project whose financial model has been carefully thought out, and vetted and achieves the market rent which the City's independent appraiser has determined to be fair market value for the property. The Proposers engaged one of South Florida's top real estate development advisors. Integra Realty Resources has reviewed the proposal and has provided a comprehensive Market and Marketability Study which can be found in Appendix I. Breakdown of Total Investment - Property Estimated Cost of Construction $4,458,995 Demolition & Site Work $T, 140,567 Soft Costs - A/E & Permitting $615,952 Contingency $279,978 Fees & Insurance $188,854 Construction Phase Interest $309,640 Construction Phase Land Lease $292,500 Total Investment $7.286,485 �l'(•r:+rye' I I Ali I/ Request for proposals for A Lease of City -Owned Roverfront Property 44 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. G MARKET ANALYSIS AND ECONOMIC FEASIBILITY SCHEDULE The projected schedule for the project is 18 months from Notice to Proceed (NTP) to occupancy. Some activities will run overlap and the breakdown of durations by activity are as follows: • Design Development& Construction Documents ......................... ..6MOnths • Permitting and Pre-Con..................................................................... 4.5 Months • Seawall Improvements........................................................................ 1 Month • Earthwork /Site Improvements ............. ............... 1 Month • Core & Shell Structure........................................................................ 4 Months • Core & Shell Finishes............................................................. ...... 3 Months • Tenant Improvements ........... ...... 3 Months • Onsite/Offsite Hardscape & Landscape ................... ............... ,.......... .. 3 Months Request For proposals For A Lease of City -Owned Riverfront Property 45 no 1 1 1 - t t I Fill 1 „ no .7 • THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. H FINANCIAL PLAN FINANCIAL PLAN Riverside Wharf has looked at numerous complex financing structures but in the end has chosen to move forward with a tried -and -tested simple financial plan. Riverside Wharf, via its two partners (Alexis Mantecon and Guillermo Vadell) is investing $5.5 million in equity and has obtained full commitment for the additional $12.7 million in additional funds needed. The $18.2 million is in- line with our construction estimate provided by MCM as can be seen 'below. Riverside Wharf's financing commitment from Stonegate Bank can be found in Tab K. The Proposer is investing heavily in the area due to its belief that through its hard work and investment, this area will one day be a dining destination in the City at Miami with no equal. As an example of this, the principals of the Proposer are completing in October of this year a $15 million, 100,000 sq ft mixed- use building with a rooftop restaurant right across the .street from the proposed development. All -in, the proposers are investing over $32 million dollars throughout all of the abutting parcels in the area not including the Tenant Improvements to be performed by the tenants which should add an additional $15 million in improvements. all -in the Proposers will be directly responsible for close to $50 million in investment in the area. It is because of this belief that the Proposer is willing to achieve a lower rate of return in the short-term than is typical. As the area gets defined, they will be able to achieve higher returns which are more in line with industry standards. Below is a table showing the sources and uses for the entire Riverside Wharf project as a whole and breaking down the components corresponding to the City of Miami Parcel. ��fra;sci{e r 1 i'rrr��: Sources and 'Uses Sources Uses Total City of Miami Parcel Abutting Parcels Equity Investment $ 5,500,000 Land Cast! Value 5 5,000,000 $ 5 5,800.000 Senior Secured Loan $ 12,623,962 Estimated Cost of Construction $ 8,656,585 $ 4,458,995 $ 4,197,590 Demolition & Site Work $ 1,€16,609 $ 1,140,567 $ 476,442 Soft Costs -AfE&Permitting $ 1,130,051 $ 615,952 $ 514,100 Contingency $ 513,660 $ 279,978 $ 233,682 Fees &. Insurance $ 346,479 $ 188,854 $ 157,62S Construction Phase interest 5 568,078 $ 309,640 $ 258,439 Construction Phase Land Lease 5 292,500 $ 292,500 $ Total Sources $ 18,123,962 Total Uses S 18,123,962 $ 7,286,485 $ 10,837,477 Request For proposals For A Lease of City -Owned Riverfront Property 46 �i � � "�{ � �, T � w 1 �. �� _ k� i �..; ' i �_ _ ' ��. �,„ _ �'e . F �,;,, ,��- V ■ c � ,,; � � 1.. n, � � '1 � ,� '�'4Y. 11 �� ..il"' �' � f � RC1 � ,. e � � M � t I . i r_ _� ' � =-_� � ff —, �� ' , ' � ,� � � ' �� _ �. '� ,, ,� �, � .,,s —" i' � � LJ THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT, FINANCIAL FEASIBILITY As part of the Proposer's analysis of the project, they have created a detailed cash flow analysis which shows the viability of the project. The cash flow analysis integrates the rental revenues that the Proposer will be achieving from the proposed restaurants as well as the common area expenses, taxes, Gnsurance,etc... It also shows the forecast rents that the City will be receiving for the Property. The Cash Flaw analysis can be found on the fallowing page. Request for proposals for A Lease of City -Owned Riverfront Property 47 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. FINANCIAL FEASIBILITY Cash Flow Analysis Development Period (18 Months) Year 1 Year 2 (1 st 6 Mths Year 2 (2nd 6 Mths Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 30 Rental Income Garcia's Restaurant and Fish Market $ $ Restaurant 94 $ $ Gross Rental Income $ $ Vacancy $ $ Total Rental Income $ - $ CAM Fees $ $ Marina Fees $ $ Gross Income S - $ Property Taxes $ 6,229 Insurance $ $ Maintenance $ $ Management Fee $ $ Marina Employees $ $ Land Lease - City of Miami $ 195,500 $ Total Expenses $ 201,729 S EBITDA -$ 201,729 -$ Debt Service Perm Loan) $ - $ Capital Investment $ 7,286,485 Net Cash Flows $ 7,488,214 -$ Assumed Annual Lease Rates ($/Sq Ft) - All NNN Garcia's Restaurant and Fish Market $ 300,642 Indoor Occupied Space $ 68,438 $ 70,491 Outdoor Dining $ 74,784 $ 77,027 Restaurant #4 $ 81,718 $ 84,169 Indoor Occupied Space $ $59,191 $ 1,053,958 Outdoor Dining $ 1,103,475 $ 1,129,352 $ 40.00 $ 126,780 $ 2S3,560 $ 253,560 $ 253,560 $ 253,560 $ 253,560 $ 285,880 $ 294,456 $ 303,290 $ 35.00 $ 275,863 $ 551,725 $ 568,277 $ 585,325 $ 602,885 $ 620,971 $ 639,600 $ 658,789 $ 678,552 $ 46.35 $ 402,643 $ 805,285 $ 821,837 $ 838,885 $ 856,445 $ 874,531 $ 925,480 $ 953,245 $ 981,842 $ 37.13 $ - -$ 64,423 -$ 65,747 -$ 67,111 -$ 68,516 -$ 69,963 -$ 74,038 -5 76,260 -$ 78,547 $ 402,643 $ 740,862 $ 756,090 $ 771,774 $ 787,929 $ 804,569 $ 851,442 $ 876,985 $ 903,295 $ 122,329 $ 244,659 $ 251,770 $ 259,095 $ 266,640 $ 274,411 $ 283,384 $ 291,886 $ 300,642 $ 34,219 $ 68,438 $ 70,491 $ 72,605 $ 74,784 $ 77,027 $ 79,338 $ 81,718 $ 84,169 $ $59,191 $ 1,053,958 $ 1,078,351 $ 1,103,475 $ 1,129,352 $ 1,156,006 $ 1,214,164 $ 1,250,589 $ 1,288,107 3,208 $ 69,000 $ 138,000 $ 142,140 $ 146,404 $ 150,796 $ 155,320 $ 159,980 $ 164,779 $ 169,723 $ 11,250 $ 22,500 $ 23,175 $ 23,870 $ 24,586 $ 25,324 $ 26,084 $ 26,866 $ 27,672 $ 30,000 $ 60,000 $ 61,800 $ 63,654 $ 65,564 $ 67,531 $ 69,556 $ 71,643 $ 73,792 $ 12,079 5 24,159 $ 24,655 $ 25,167 $ 25,693 $ 26,236 $ 27,764 $ 28,597 $ 29,455 - $ 22,500 $ 45,000 $ 46,350 $ 47,741 $ 49,173 $ 50,648 $ 52,167 $ 53,732 $ 55,344 100,683 $ 100,683 $ 207,406 $ 213,628 $ 220,037 $ 226,638 $ 233,437 $ 240,440 $ 247,654 $ 255,083 103,890 $ 245,512 $ 497,065 $ 511,748 $ 526,872 $ 542,450 $ 558,496 $ 575,992 $ 593,272 $ 611,070 10300 $ 313,6079 $ SSSA34 $ 5613,602 $ 576,602 $ 586;902 $ 597,511 $ 638,:112 $ 657,317 $ 677,03; - $ 192,993 -$ 385,985 -$ 385,985 5 385,985 -$ 385,985 5 385,985 -$ 385,985 -$ 385,985 $ 385,985 103,890 $ 120,686 $ 170,908 $ 180,617 $ 190,617 5 211 $ 211,525 $ 252,187 $ 271,332 $ 291,052 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 40.00 $ 45.00 $ 45.35 $ 47.74 $ 35.00 $ 35.00 $ 35.00 $ 35.00 $ 35.00 $ 35.00 $ 40.00 $ 41.20 $ 42.44 $ 45.00 $ 45.00 $ 46.35 $ 47.74 $ 49.17 $ 50.65 $ 52.17 $ 53.73 $ 55.34 $ 35.00 $ 35.00 $ 36.05 $ 37.13 $ 38.25 $ 39.39 $ 40.57 $ 41.79 $ 43.05 Request for proposals for A Lease of City -Owned Riverfront Property 48 0 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. J FINAL RETURN TO THE CITY FINAL RETURN TO THE CITY Riverside Wharf will pay to the City of Miami the greater of: a. A minimum, guaranteed rent of $195,500 or b. 15% of the total rental income from the various restaurants and retail tenants on the Property. Throughout the life of the lease, this translates to over $22 Million in guaranteed minimum Rental proceeds to the City of Miami. Besides the above stated rents, the City of Miami is anticipated to receive roughly $5.5 million in capital improvements to the property or $7.2 million when taking into account all the relevant soft costs. The City is anticipated to receive a significantly higher tax base and permit fees. But most importantly, the City will get a new waterfront dining destination with yacht access in an area that is currently blighted and run- down. All of this while still maintaining the commercial fishing jobs that currently exist and creating an additional 300 local jobs. The Proposer's have performed numerous hours of due diligence regarding the highest and best use for the property, both financially and for the residents of the City of Miami. Our conclusion is that the proposed use of the sites as outlined in this proposal are financially feasible and will truly be an amazing destination for the residents of the City of Miami. However, we believe that the City of Miami and the Residents of Miami will be much better served if the entire assemblage were to be developed as a mixed-use site consisting of Restaurants, Retail and Hospitality. Our vision for the site would include a small low-rise boutique hotel of 8 stories and 120 rooms and 2-3 restaurants while still incorporating the Commercial fishing elements and fish market, The development would be built with the character of the Miami River and its history being of the utmost importance in selecting the materials and design of the structures. It is our opinion that the hospitality use would truly activate the site and the area in a much more deserving fashion and would allow the Proposers to pay a higher base rent. Should the City Initiate and successfully rezone the assemblage to a zoning that would allow a hospitality use such as TS -8, the Proposers ore willing to increase the base rent being proposed to $250,000 per year plus increases for the life of the lease. The Proposers would then commit to the construction of a 120 room, 8 -story boutique hotel with 2-3 restaurants and maintain the Garcia's Raw Bear and local Fish Market tied to the "Fisherman's Wharf" concept. As per the City of Miami Charter, Riverside Wharf acknowledges that it agrees that the annual lease payments shall meet fair market value, at a minimum, if its proposal is accepted by the 9!Y - Request for proposals for A Lease of City -Owned Riverfronr Property 49 Jill gg- sop Ln m n 0 z W a LZI La kila-. i 0-- a a „4 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL„ BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. � i 5r t „4 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL„ BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. � �J C7 • f ATTACHMENTS THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENI© OF THIS DOCUMENT. RFP REGISTRATION FORM Exhibit A EXHIBIT .a REGISTRATION FOR11 In order to register for North River Property Request for Proposals (RFP) Pio. 14-I5-021, please complete the following registration form and submit a cheek in the amount of 5150.00 made payable to the City of Miami in person or by mail to the following address: Jacqueline Lorenzo Property Management Specialist -ldd SW 2nd Avenue, Suite 325 Miami, Florida 33130 Failure to submit the registration deposit will disqualify you and/or the Proposing Entity from bidding on this RFP and from receiving any Addenda to this RFP. Registration Form Name: Alexis Matntecon Proposing Entity's Legal Name: Riverside Wharf LLC Physical Street Address: 2950 NW 7'„ Ave City/Zip Code: Miami. Fl 33127 Telephone Numbers: (Work) 305-233-1539 (Cell 1303-983-4861 Facsimile: 786-513-2.348 E-mail Address: Alcr'a mN reh.com MV REAL. ESTATE HOLDINGS. LLC 1371 13943 S%V 140 STREET i1:7R SM MIAMI FL 33198 17\/ DATE 1`-A, TO THE ORDER OF_ a P DOLLAR: _ MEN STONEGATE men BANK I'r]17i37Lill t"06401,5'7241: i0332B1' r - n ...��.....� Request for proposals for A Lease of City -Owned Riverfront Property 50 C • • K ATTACHMENTS STONEGATE BANK Af:hHFrEft v ; REAL ESTATE HOLDINGS, LLC. EXACTLY •*100,000 AND 00/100 DOLLARS PAY ['U TH E (DRDEROF **CITY OF MIAMI** RIVERSIDE WHARF LLC - DEPOSIT FOR RF? 14-15-024 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP REGISTRATION FORM Earnest Cheek Official Check Datc: 9/11/15 Branch: 1008 51613 5 ill $1QQ,QQQ.Qr1 ii• s i 6 i � sii• �:Q Z iso❑ �©9 ��:a � 4a❑ i i 38 � s 50��• 11 IS; MW _ -. Request for proposals for A Lease of City -Owned Rverfront Property 51 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENR OF THIS DOCUMENT, A i W a ; dike LL Ci •, . } �rn■ ■ nmmmm rr • % • r� u n ATTACHMENTS THIS DOCUMENT i5 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP SUBMISSION FORM Exhibit B1 EXII[BIT "BI" RFP SUBMISSION FORM I, PROPOSER'S LEGAL NAME: Riverside Wharf LLC IL PROPOSER'S CONTACT INFORMATION CON'T'ACT NAME: Alexis Mantecon TELEPHONE NO.: {Landline) 305-233-1539- (Cellular) 345-984-4861 FACSIMILE: 786-513-2398 ELECTRONIC MAIL ADDRESS: Alex(tmvreh.com PROPOSER'S FEDERAL TAX ID NO.: 47-4976449 III. LEGAL ENTITY OF PROPOSER ci Individual N Limited Liability Company o General Partnership ❑ Corporation n Limited Partnership o .It. Venture Other (Please specify): — Legal Entity of Proposer: Please be advised that, at the time of submission of the RFP responses, the Proposer must be a legal business entity (partnership, limited liability company or corporation, for example) and authorized to do business in the State of Florida, Miami -Grade County and the City of Miami under the proposal entity's legal name. IV. PROPOSER'S PRINCIPALS (Please attach a separate page for additional individuals). 1. Alexis Mantecon (as manager of Riverside Wharf LLC and MV (teal Estate holdings) 2. Guillermo Vadell (as manager of Riverside Wharf LLC and MV Real Estate Holdings] 3. MV Real Estate Holdinggas_sole member of Riverside Wharf LLC) Please be advised that any principals included on this RFP Submission Form may not be substituted or withdrawn from participation after the Submission Date unless the City Manager specifically authorizes in writing a request for substitution. Request for proposals for A tease of City -Owned Riverfront Property 52 • • ATTACHMENTS 'THIS DOCUMENT 1S A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP SUBMISSION FORM V. PERSON(S) AUTHORIZED TO (NEGOTIATE AND SIGN THE LEASE AGREEMENT: Alexis Mantecon and Guillermo Vadell VI. PROPOSED LIST OF CAPITAL IMPROVEMENTS TO PROPERTY Proposers intend to demolish all existing improvements on the property and will construct 2 (two) stand-alone restaurant sites and a fish market. The buildings will encompass roughly 16,000 square feet of indoor space and the remainder of the opgn areas will all be finished to high standards in order to create a beautiful promenade. The proposers will also build a Riverwalk along the Miami River to City of Miami standards and will also interconnect it to the two abutting parcels on either side which the proposers also intend to imRroyc. Thep o�sers will also improve_the existing sea wall cap_apd_prov_ide a marina for transient dockage for restaurant patrons as well as commercial fishing vessels. ATTACH B ''A" x 11" SKETCH SHOWING PROPOSED REMODELLING, RENOVATION BUILD -OUT IMPROVEMENTS OF PROPERTY. ALL COPIES MUST INCLUDE COPIES OF THIS SKETCH. VII. PROPOSED DOLLAR (S) AMOUNT OF CAPITAL IMPROVEMENTS $ 4,458,995 Vill. PROPOSED RENT —Greater of: PROPOSED BASE RENT: 145,500 Or PERCENTAGE RENT: 15% of Grass Rental Income Request for proposals for A Lease of City -Owned Riverfront Property 53 E E K ATTACHMENTS IX. DEFAULTS ON CITY CONTRACTS - please state whether - THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. RFP SUBMISSION FORM A. The Proposer or any principals comprising the Proposer was ever in arrears to the City for any debt or obligation within the past ten (10) years; 0 Yes \ No B3 The Proposer or any principals comprising the Proposer have had uncured defaults or have Failed to perform under the terms of any agreement or contract with the City within the past ten (10) years; 0 Yes X No C. 'ibc Proposer or any principals are in default under any agreement or contract with the City on the date and time the proposal is due; 0 Yes N No D, The Proposer or any principals have caused fines to be levied against the City within the past ten (10) years: 0 Yes \ No E. The Proposer or any principals have initiated any current, pending or past litigation against the City within the past five (5) ycars; 0 Yes \ No F. The Proposer or any principals have any litigation or a legal dispute involving a real estate venture within the past ten (10) years, 0 Yes \ No SEE ATTACHED LETTER OF EXPLANATION G. The Proposer or any principals have current, pending or past bankruptcies or foreclosures within the past seven (7) years on projects the Proposer or the Proposer*s principals have owned or controlled; *" SEE ATTACHED LETTER OF EXPLANATION 0Yes \ No H. The Proposer or any principals have caused any city -owned land or improvements to incur environmental damage, environmental contamination liability or any other liabilities. Q Yes \ No Request for proposals for A Lease of City -Owned Riverfront Property 54 K ATTACHMENTS September 7, 20 15 City of Miami Office of the City Manager 444E SW Z"d Ave Miami, FI 33130 Re: THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT, RFP SUBMISSION FORM F) The Proposer or any principals have any litigation or a legal dispute involving a real estate venture within the past ten (10) years; G) The Proposer or any principals have current, pending or past bankruptcies or foreclosures within the past seven (7) years on projects the Proposer or the Proposer's principals have owned or controlled; Letter of Explanation • The Principals of Riverside Wharf LLC, Alexis Mantecon and Guillermo Vadell, are Real Estate Investors and as a standard course of business engage in the acquisition of distressed notes, properties, subordinate liens, tax liens, etc... As a result of this, there have been various litigation and /or foreclosure actions against some of the assets we have acquired in this format. NONE of the foreclosure actions have ever been against any notes, liabilities or obligations which we incurred. Neither Guillermo nor Alexis have ever filed for bankruptcy or defaulted on a single debt under any of our names or related entities in which we control or own. All foreclosures filed against assets under our control have been on obligations incurred by third parties prior to Alexis or Guillermo having taken control of the property via a forced sale, note purchase or assignment of interest from a junior lienar. Sincerely, Alexis Mantecon Manager - Riverside Wharf LLC • Request for proposals for A Lease of City -Owned Riverfront Property 55 L� • ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP SUBWSSION FORM Notwithstanding the foregoing, any Proposer or principals of the Proposer when disputes the City's claim or demand for any debt or obligation, may, during the pendency of the dispute, deposit the amounts the City claims are due in an escrow account, subject to an escrow agreement negotiated with the City prior to responding to this RFP and seek ajudgment from a court of competent jurisdiction. Any such escrowing of funds shall allow a Proposer to qualify to respond to this RFP and the funds shall be held in escrow until the dispute is resolved. If the City has quantified a dollar amount attributable to a failure to perform under (ii), above.. a Proposer disputing such claim or demand may also avail itself of the escrow provisions. Failure to Disclose Information The Proposer shall be automatically disqualified from further consideration in this RFP process if the Proposer or Proposer's principals fail to disclose information relating to the following: i) outstanding arrearages or indebtedness with the City; ii} uncured defaults or the failure of any of the above to perfomn under the terms of any agreements or contracts with the City contracts within the past ten (10} years; iii) any default with the City under any agreement or contract on the date and time the proposal is due; iv} any fines any of the above have caused to be levied against the City, V) any current, pending or past litigation against the City within the past five (5) years; vi) any litigation or legal dispute involving a real estate venture within the past ten (M) years; vii) current, pending or past bankruptcies or foreclosures within the past seven (7) years on any projects any of the above have owned or controlled; viii) the role of any of the above in causing any city -owned land or improvements to incur environmental damage, environmental contamination or any other ItabiIittes. Request for proposals For A Lease of City -Owned Riverfront Property 56 Ll • K ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP SUBMISSION FORM X BUSINESSIFINANCIAL REFERENCES FOR PRINCIPAL—.ilex M antecon Please provide three (3) Business References for each of the Principal(s) and one (1) financial reference. Attach additional pages as necessary. BUSINESS REFERENCE 1: Frits Lieu w-Kie Son / Global Credit Anal st Name/Title Rogge Global Partners 786-457-6180/fritsl(a�dg,eloba! rqm Company Name Telephone No./Email 444 Madison Ave, 37'k Floor, NYC 10022 Address BUSINESS REFERENCE 2: Camille Chee-Awai Name/Title Cari Bloom Holdings /President Company Name 1370 NE 103rd St, Miami, F133138 Address Raul Rodriguez Name/Title National Health Transport Company Name 305-606-3249 Telephone NoJEmail BUSINESS REFERENCE 3: 215 SW 125 Ave, Miami, F133184 Address 305-479-34711 rauaJuarlic.com Telephone NoJEmail FINANCIAL REFERENCE 1: Juan Carlos de O►aa / Senior Vice President Name/Title Stonegarc Bank 786-413-1264 /dean _ a _ _ tonegatebank.com Bank/Financial Institution Name Telephone No./Email 121 Alhambra Pla a ,Shite 1515 Coral Gables F133134 Address of Bank/Financial Institution PLEASE BE ADVISED THAT THE FINANCIAL REFERENCE MUST BE ACCOMPANIED BY A LETTER OF COMMITMENT ON THE FINANCIAL INSTITUTION'S LETTERHEAD. Request for proposals for A Lease of City -Owned Riverfront Property 57 • K ATTACHMENTS September 8, 2015 Re: Mr. Alexis Mantecon '1'o whom it may concern: RFP SUBMISSION FORM Financial Reference letter for Alex Mantecon ,3 STONEGATE BANK Mr. Alexis Mantecon is an excellent client of Stonegate Bank and we highly value his banking. relationship, Mr. Mantecon has been banking with Stonegate Bank since June of 2011 and has always handled his banking affairs accordingly. He currently has net assets in the middle seven figures. Mr. Mantecon is a pleasure to work with and has only displayed the highest morals and ethics. if you need any additional information, please do not hesitate to contact me directly at {786}413-1264. Best regards, J.C. de (dna, M.B.A. Senior Vice President 121 Alhambra plaza. Suite 1515 Coral Gables, Florida 33134 phorne:766.413.126❑ fax:766.413.1279 VWdW.ST0NEGATEE3ANK_C0lvl Request For proposals For A [_ease of City -Owned Riverfront Property 58 ATTACHMENTS THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENL] OF THIS DOCUMENT. RFP SUBMISSION FORM X. BUSINESS/F'INANCIAL REFERENCES FOR PRINCIPAL — Guillermo Vadell Please provide three (3) Business References for each of the Principal(s) and one (1) financial reference. Attach additional pages as necessary. BUSINESS REFERENCE 1: Diego Rovito l Logistics Director Name/Title World Threads in.ldha Eberjey (305)318-1620 Company Name Telephone No./Email 3300 NW 41 Street Sante IE, Miami, FL 33142 Address BUSINESS REFERENCE is Cang P. Vo /CEO NamelTitle CV0 Wealth Management Inc (305) 773-4820 Company Name Telephone No,/Email 2301 Collins Avenue, Suite 819, Miami Beach, FL 33139 Address BUSINESS REFERENCE 3: Jorge Perez / Principal Name/Title Perez & Partners, Inc. (786) 543-9093 Company Name Telephone NalEmail 7720 SW 89 Court, Miami, FL 33173 Address / Request For proposals for A Lease of City -Owned Riverfront Property 59 C� K ATTACHMENTS FINANCIAL REFERENCE I: Juan Carlos de Ona I Senior• Vice President Name/Title Stonegate Bank (786) 413-1264 Bank/Financial Institution Name Telephone No./Email 121 Alhambra Plaza, Suite 1515, Coral Gables, FL 33134 Address of Bank/Financial Institution THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL_ BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RFP SUBMISSION FORM PLEASE BE ADVISED THAT THE FINANCIAL REFERENCE MUST BE ACCOMPANIED BY A LETTER OF COMMITMENT ON THE FINANCIAL INSTITUTION'S LETTERHEAD. XL PROPOSER'S SIGNATURE 09/11/2015 Signature Cate Alexis Mantecon 1 Manager Print NamelTitle Riverside Wharf, LLC. Company Name 0 - Request for proposals for A Lease of City -Owned Riverfront Property 60 • K ATTACHMENTS September 8, 2015 Re: Mr. Guillermo Vadell To whom it may concern: RFP SUBMISSION FORM Financial Reference letter for Guillermo Vadell STONEGATE BANK Mr. Guillermo Vadell is an excellent client of Stonegate Bank and we highly vaIue his banking relationship. Mr. Vadell has been banking with Stonegate Bank since June of 2011 and has always handled his banking affairs accordingly. He currently has net assets in the middle seven figures. Mr. Vadell is a pieasure to work with and has only displayed the highest morals and ethics. If you need any additional information, please do not hesitate to contact me directly at (786)413-1264. Best regards, J.C. de Ona, M.B.A. Senior Vice President /I Lo J 121 Alhambra Plaza, Since 16'15 Coral Gables. Flarida 33134 phone_ 766.413.1280 fox: 788.413.1279 " VWWVV.ST0NEGATEBANK.00M Request for proposals for A Lease of City -Owned Riverfront Property 61 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. f� ATTACHMENTS UTTER OF COMMITMENT Exhibit B2 T ONEGATE BANK September 8, 2015 Collateral Address: Riverside Wharf 114 & 2355W North River Drive Miami, FL 33130 Borrowers: Riverside Wharf, LLC 121 Alhambra Plaza, S -t€3 1515 Cor81 Gables, Florid® 33134 phone: 78..6 413 126q rax: 785.413-1279 VVVVvV.ST0NE0ATE8ANK.00WI / Request for proposals for A Lease of City -Owned Riverfront Property 62 We are pleased to offer you a Construction to Permanent First Mortgage loan commitment subject to the following terms and conditions, including those listed on Exhibit B. Product: 10 year construction to permanent term loan with a 25 year amortization — Interest Only for the first 2 years then Principal and Interest for the remaining term. Loan Amount: Up to $12,700,000.00 Initial Interest Rate: 4.5% for the first five (5) years Repriced Interest Rate: 2,75% over the 5 year T -Bill with a floor of rate of 4.5% Index: Treasury Bill Constant Rate, as established by the U.S. Treasury and published in the Federal Reserve Statistical Release H15(519) or similar publication of the United States government. Loan Term (fn months): 120 Debt Service Coverage Ratio: 1.25x Loan Origination Fees: 'A% of Loan Amount This Commitment is for a first Mortgage Loan. No secondary financing is allowed in connection with this closing without the Lender's written consent. The interest rate in this commitment is available only to the Borrowers as they reflected above. The Lender may change the rate of interest upon commitment interest rate expiration and/or transfer of title and declare the loan balance due and payable if title is transferred without the Lender's written consent. This Commitment expires 60 days from the date shown above. If the loan does not close by the expiration date, through no fault of Lender, the loan may, at the Lender's discretion, be closed thereafter at the Lender's then prevailing rates and terms. if you have any questions, or require specific information about this Loan Commitment, please contact I.C. de Ona at 786-413.1254; email icdeonaifustonelzatebank.com 121 Alhambra Plaza, S -t€3 1515 Cor81 Gables, Florid® 33134 phone: 78..6 413 126q rax: 785.413-1279 VVVVvV.ST0NE0ATE8ANK.00WI / Request for proposals for A Lease of City -Owned Riverfront Property 62 11 • iC ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. LETTER OF COMMITMENT JON ST ❑INEGATE BANK THE FOLLOWING UNDERWRITING CONDITIONS MUST BE MET OR THIS COMMITMENT WILL BECOME NULL AND VOID Conditions to be cleared by Underwritin De artment:. 1. Project Review: Lender to review and approve (i) Insurance; (ill corporate documents and by-laws; (lii) plans and permits; (iv) Cite of Miami lease and related documents. 2. Lease Review: Lender's Counsel to review and approve all leases. 3. Document Review: Lender's counsel to review and approve Articles of Incorporation and Operating Agreements of Borrower entities, Other Conditions; 1. Approval of final contractor. 2. All insurance, including windstorm coverage, endorsed to Stangate Bank. 3. Lender's review and approval of Phase 1 Environmental Report. 4. Lender's review and approval of tender -ordered Appraisal with loan not to exceed 70% LTV S. Review satisfactory to the bank of all documents pertaining to the development of subject property and City of Miami lease. 6. Project must be bonded. 7_ All draws to be approved by bank appointed engineer. Closing Conditions: 1. Borrowers' execution and delivery of any and all documents prepared by Lender or its Counsel evlde,scing and securing the loan. STONEGATE BANK, a Florida Banking Corporation 1.C.. de Ona -- Senior vice President The undersigned hereby acknowledge the terms and conditions of this Commitment on behalf of the Borrower Entities and also acknowledge receipt of Exhibits A and B to this Commitment Letter. Riverside Wharf, LLC By: t Its: Alexis Mantecon f Manager 121 Alhambra Pleza, Suite 1515 Corsi Gables. FPo,da 33134 phone: 796.413.12617 fax- 7136.493 .1279 VVWW.STC7NEGATEBANIC.CONA Request For proposals for A Lease of City -Owned Riverfront Property 63 �J • is ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. LETTER OF COMMITMENT i ONEGATE BANK *.4:11 .1 I,Y1I•L' MM4:"IDISTA:1_1.lAWN Legal Description See Title Commitment 121 Alhambra Plaza, Since 1 515 Coral Sables. Florida 33134 phone; 786 413,1280 fax: 7Ei6.4T3-1279 ~/VV.STOIVEGATcBANK.CQM Request for proposals for A Lease of City -Owned Riverfront Property 64 �J .7 • THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS LETTER CSE COMMITMENT E-STONEGATE BANK EXHIBIT B TO LOAN COMMITMENT FOR RIVERSIDE WHARF, LLC LOAN FEESfPOINTS, INCLUDING COMMRTMENT FEES Does not include such Borrower loan costs as Lender's attorney's fees (payable by Borrowers), document recording fees, state documentary stamps and intangible taxes, prepaid interest, escrow items, credit report,. appraisal fees, courier or handling fees. Document preparation fees, title update fees, title search, title insurance, settlement fees, survey fees, roof inspections report, wood destroying organism inspection reports, final inspection fees, underwriting Fres, etc., CREDIT DOCUMENTS Credit documents expire 90 days from approval date. If the loan has not closed by this date, documents will have to be updated and re submitted for approval. FINANCIAL STATUS No adverse material change in the financial status of the Borrowers from the date of the loan application to the date of closing. APPRAISAL The loan is subject to appraisal report ordered by the Lender's appraiser and meeting al! the rules and regulations of the OTS, USPAP, and Lender's Lending Policies. TITLE Mortgagee title insurance commitment covering all of the subject collateral property certified to a current date acceptable to Lender's attorneys or agents, and if requested, copies of a!I instruments noted in Schedule B of such commitment. The commitment must be delivered to Lender's counsel with a reasonable time before the proposed closing date. All title insurance agents or companies must be approved by Lender. The mortgage title insurance policy must be delivered to tender and Lender's attorney within thirty (30) days of the settlement date. Borrowers are responsible for payment of the title insurance premium and all title related costs and fees. INSURANCE Policy or certificate of insurance as evidence of FIRE AND EXTENDED COVERAGE on all property serving as collateral, written by a local agent on a U.S. insurance company to the amount of building replacement cost. The insurance company you choose must have at least an A class VI rating in the most recently published BEST'S KEY RATING GUIDE. The following insurance forms are acceptable as evidence of property insurance: Accord Forms 27 & 24 Certificate of insurance as evidence of FLOOD INSURANCE coverage on the subject property, written by a local agent on a U,S. insurance company in the amount equal to the Fire and Extended coverage or the maximum that can be obtained through the National Insurance Program - HO -6 Condominium dwelling Insurance or DP -2 or DP -3 Betterment and Improvement, including, Windstorm Coverage, (minimum coverage: 20% of appraised value or $15,000 whichever is higher). 129 Alharnbra Plaza, Suite 1515 ' Cora! Galles. Florida 33934 phone: 7a6.413.92EO falx: 786.493 9279 VVVVVV.5TcJtJEGATEBANK.00M /Lff� !!!!!! Request for proposals for A Lease of City -Owned Riverfront Property 65 L I'C ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. LETTER CSF COMM1 1 MEN I ZESTONELGATE- BANK NOTE: Lender requires that its agents be Furnished the necessary evidence that the insurance coverage as. End Gated above are in force and that the first year's premiums are paid in full- The mortgagee clause should be endorsed as follows: 3toneliate Bank iSAOA, ATIMA Attn: Loan Operations P.O. Box 4578 Fort Lauderdale, Florida 33338 PROPERTY TAXES Proof of payment of all taxes due & applicable to the real property to be mortgaged & proof of payment of all certified improvement lien, if any, or proof there are no certified improvement liens affecting the property. EX?STING MORTGAGES Payoff letters for all existing mortgages, if any, and from any judgment holders, if any, in a form acceptable to Lender's counsel. 129 Alliarnbra miara, Suice 1515 Coral Gst7lss. Flprida 33134 panne: 7E36.4931260 Fax: 7E35 413.7279 WV\A O,STONEGATE®ANK.COM Request For proposals for A Lease of City -Owned Riverfront Property 66 �J K ATTACHMENTS September 4, 2015 Mr. Alexis Mantecon Riverside Wharf LLC 2950 NW 7`' Ave Miami, FL 33127 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. LETTER OF COMMITMENT 50LTH FLCWOAS FRESMSTSEAF001D SINCE IW43 SEAFOOD GRILLE & FISH MARKET Re: City of Miami Request for Proposal Number 14-15-024 Rear Mr, Mantecon, This letter shall serve as evidence of our commitment to Riverside Wharf for inclusion in the RFP Response Riverside Wharf is submitting to the City of Miami for its Request for Proposal No. 14 -15 -024 - We are granting Riverside Wharf LLC the right to include Garcia's in its response to the RFP and propose Garcia's as the fish market, commercial fishing operator and restaurant / oyster bar operator for the redevelopment. Garcia's stands committed to continuing commercial fishing operations and opening a fish market on the proposed site, subject to the selection of Riverside Wharf as the winning proposer. We look forward to the opportunity to be part of the transformation of the riverfront commercial area along the Miami River. 398 N.W. NORTH RIVER DRIVE • MIAMI. FLORIDA 33128 •'TEL: 305,375.0785 • FAX:. 305-375.0167 W W W.GARC IASEAFOOD.COM Request for proposals for A Lease of City -Owned Riverfront Property 67 C, • LJ K ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 8.5 X 11 SKETCH Exhibit B3 Proposers must add as an attachment to Composite Exhibit "B" an 81I2x 11" sketch showing the proposed design, remodeling, renovation/build-out improvements to be made by the Proposer as Exhibit "B3". PLEASE SEE THE ATTACHED PAGES. Request For proposals for A Lease of City -Owned Riverfront Property 68 j a� vjwY xT r to r , 114' y "S, ■ r wmn ..., IL H ' + .... -m -JL m %: ra ■ or "' AERIAL VIEW LOOKING /-Ka� erfi4l 7 THIS DOCUMENT IS A SUBSTITUTION TO ba EAST ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ------------ ----- --_ -.- ------ to --- _•',A d lop f rs�� Fop;" � r �� + . "�� •moi �� Y# a i � Owl- � - l 1 i = r ti �4 ,. •� II [I 11111 I sl trtw ' Y w t:. � + n �r � IFR�6■ � �I. IL Yr Now" OIL s.� r� r L1 r �i s. y � � t v 4' � f � <,j I �� i' �� !�-i� ti ` �► � ��' ;tom„ i i � '.4 { I � 1 _.+ r WL (V� i PARKING aj f. PARKING f f4� x r NW NORTH RIVER DRIVE r � c..x ar wnw areoPErx r. RMTAMAXT Mdl P"l Of kFN r• +.a SITE I a ✓�, > s _ MIAMI RIVER 46 AREA BREAKDOWN- SITE 1 & 2 AREA BREAKDOWN- SITE 1 AREA BREAKDOWN- SITE 2 i TOTAL GROSS'BUILDING: 33,703 SF RESTAURANT 1 RESTAURANT 2 RESTAURANT 3 RESTAURANT 4 - GROUND: 2,808 SF GROUND: 5,305 SF GROUND: 3,477 SF GROUND: 8,715 SF R TOTAL GROSS SITE: 56,785.7 SF SECOND: 2,800 SF SECOND: 6,621 SF SECOND: 1,987 SF SECOND: 1,990 SF TOTAL GROUND FLOOR: 20,305 SF TOTAL OPEN AREA: 38,480.7 SF I TOTAL: 5,608 SF TOTAL: 11,926 SF TOTAL: 5,464 SF TOTAL: 10,705 SF TOTAL GROUND FLOOR: 8.113 SF TOTAL GROUND FLOOR: 12,192 SF TOTAL BUILDING GROSS AREA: 17,534 SF TOTAL BUILDING GROSS AREA: 16.169 SF N TOTAL SITE AREA: 26,836.6 SF TOTAL SITE AREA: 31,949.1 SF j. 'Q GROUND LEVEL SITE PLAN ba ORIGINAL. THIS DOCUME=NT 15 A SUBSTITUTION TO L ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT, \41 ��",,. NW 6RTH RIVER DRIVE PwTI ARG- tN,v y� norar asP i` •.vx r r/ MIAMI RIVER a.sr,wwn� / fr SITE 'I 'i..`^ i wcatwwua 5 •_.. moi` '� ;� kr 19 ■U . A -- Sly 2 AREA BREAKDOWN- SITE 1 & 2 AREA BREAKDOWN- SITE 1 AREA BREAKDOWN- SITE 2 TOTAL GROSS BUILDING: 33,703 SF RESTAURANT 1 RESTAURANT 2 GROUND: 2,848 SF GROUND: 5,305 SF RESTAURANT 3 RESTAURANT 4 GROUND: 3,477 SF GROUND: 8,715 SF - w TOTAL GROSS SITE: 58,785.7 SF SECOND: 2,840 SF SECOND: 6,621 SF SECOND: 1,987 SF SECOND: 1,990 SF TOTAL GROUND FLOOR: 20,305 SF TOTAL OPEN AREA: 38,4803 SF I TOTAL: 5,608 SF TOTAL: 11,926 SF TOTAL: 5,464 SF TOTAL: 10,705 SF TOTAL GROUND FLOOR: 8,113 SF TOTAL GROUND FLOOR: TOTAL BUILDING GROSS AREA:. 17,534 SF TOTAL BUILDING GROSS AREA: TOTAL SITE AREA: 26,836,6 SF TOTAL SITE AREA: 2ND LEVEL SITE PLAN 12,172 SF 16.169 SF N 31,949.1 5F THIS DOCUMENT IS A SUBSTITUTION TO b ORIGINAL BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. I LLJ� z I � � I al 0 0�I I a PllkMI RIVER f FULL i rw 1 SECTION 1 V V Wt • RESTAURANT 4 r GRAPHIC SCS _ THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ba • RIVERWALK K Lu Lu Q l . y, „SNF .,_ � ,•�# ,;t,. 1 RESTAURANT 3 i THIS DOCUMENT IS A SUBSTITUTION TO SECTION 2 ��1�-� ORIGINAL. BACKUP ORIGINAL CAN BE L.... SEEN AT THE END OF THIS DOCUMENT. 1a CD THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. m -I w r r_ - (( r� * f! "� • e'er }.. T •yr ' .r. lTF TT At -�� H till Z. �'.r+r '�`i �,� r t` ' i ": r• 1 _ �. � "• a,rr—r-_ - r -;m 'rte -- - -1148111 MARM_ . rr soh • THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. I'C ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Exhibit C1 EXHIBIT"C]" BUSINESS TEAM EXPERIENCE FORM For each member of your Project Team, please list the name and role of the individual (for example, PrincipaUCEO, Operations Manager, Architect, General Contractor, etc.), License No. (if applicable), number of years of experience in their respective field and the LEED Certification Slatus of the individual (as applicable). (Attach additional sheets if necessary). Namefltole List of Five (51 Similar Projects By Type of Project Project Total Project Project Mame & completion Time cost by location 1. The East Coast Building Mixed use — 2015 $15 Million Location: Miami, FL Commercial and Restaurants 2, Stadium Professional Building office and 2013 $1.6 Million Location: Miami, FL Restaurant Alexis Mantecon — Manager 3. Palm Court Apartments Multi_Famfly 2_008 5 TS million Riverside Wharf Location: Homestead, FL Portfolio -120 units 4. EI Capitan Luxury Residential 2008 2 Million and Dockage Location: Istamorada. FL S. Mixed-use Portfolio Residential,. Ongoing $7.2 Million Location: Miami, FL Industrial and Marina 1. The East Coast Building Mixed use — 2015 15 Million Location: Mlam+. FL Commercial and Restaurants 2. Stadium Professional Office and 2.01.3 $1.6 Million Suiidinfl Restaurant GuillermoVadelI—Manager Location Mia_ m_i Ft Residential, Riverside Wharf 3. Mixed-use Portfolio Industrial and ongoing $ 7.2 million Location: Miami, FL Marina 4. Location 5. Location Request for proposals for A Lease of City -Owned Riverfront Property 79 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Name f Role List of Rve (5) Similar Projects by Type of Prof ect P,.Ject total Project Project Name & by Location Completion Cost Time 1. Garcia's Seafood Grille & Restaurant Ongoing N/A Fishmarket Location. Miami, FL 2. Location Luis Garcia 3. Location 4. Location 5. Location 1. Garcia's Seafood Grille & Restaurant Ongoing NEA Fishmarket Location: Miami, FL Esteban Garcia 2. Location 3, Location 4. Location 5, Location 1. Triptych Location: Miami. FL Mixed -Use 2016 120 M Willy A. Bermello. IA AICA 2. Embassy Suites Hotel Chairman of the Board, Location: Miami, FL Commercial 2008 L40_45 M Principal -in -Charge 3.Four Seasons Hotel&Tower Location: Miami FL CommerciallResidential 2004 225 M 4. Douglas Grand Location: Miami Beach, FL Mixed -Use 1998 17 IVf S. 1800 Club Location: Miami, FL Mixed -Use 2007 78 M -- Request for proposals for A Lease of City -Owned Riverfront Property 80 rI • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. �{ ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Name/Role list of Five [5] Similar Projects Type of Project Project Total Project by Project Name & Ey Location Completion cost Ik Time I 1. Lakeview Center Mixed -Use TBD $240-M Location: West 0alm Beach, FL 2.Embassy Suites Motel Commercial 2008 40 - 45 M Location: Miami, FL Raul Carreras Partner, Project Manager 3.Miami Entertainment Commercial 2013 $11.5 M Complex Location: Miami, FL 4. Pinecrest_Communi_tyCntr Municipal 2004 12M Location: Miami, Ft 5. Palmetto Bay Park Municipal 2001 8.1 M Location: Miami, FL 1. Triptych Location: Miami, FL Mixed -Use 2016 $120 M 2. NE 2"9 Street Location: Ft, Lauderdate, FL Mixed -Use THD 55 M James R. Bowers, AIA, 3. Palacio de Bahia NCARB. LEED AP Architect Location: Panama City, Mixed -Use THD 180 M Panama 4.Dubai Maritime City Mixed_— Use -Waterfront 2008 $5 Billion Masterplan Location: Dubai, UAE S. Jumeriah Beach Qn-going TBD Development Mixed -Use - Residential Location: Dubai, URE 1. George Brummer Park Location: Pompano Beach, 1, Municipal 2012 $2.5 M 2. Mina Rashid Location. Dubai UAE Mixed -Use 2009 $4 Biltjon Randy P. Hollingworth VP 3. James Archer Smith Park Location: Homestead,- FL Municipal 2009 $1.4 M Director of Planning & Landscape 4. Harry S. Truman. Park Location: Key Wes, FL t Mixed -Use - Waterfront On-going $23 M 5. Sullivan Park Location: Deerfje4d Beach FL Municipal On-going 397 K Request for proposals for A Lease of City -Owned Riverfront Property 81 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Narne]Role List of Fire (5) Sim liar Projects Fly Project Name & 4y location Type & Project Project Completion Time Total Project 'Lost Erick Valderrama 1. East Coast S.,Id,ng Commercial 1012.15 $10,537,109 5155,695,736 532,0F79,000 $25,900,009 $40,9110,00D Location coral Gaules, FL 2 MIA Airport 756AD N. Terminal Aviation 1012912 Location hliami,FL 3, Flu School of Law €doeation 2005 Location Miami. FL 4, FIU tihra ry Expan{pori Educalion 1998 2002 Pre -Construction Manager Local tic n Miami, FL 5 unnersity of Mia mt Convocation Center Education Location Miami,FL Armando Perez Estimator East Coast 8rilding Commercial 10/2015 510,357,1m 543,973,423 57,700.009 5155,695,736 $6603 340 Location [oral Gahlcs. FL 2, Miami 5enioa High School Educational 1112013 Location Miami,FL 3Port Miami CruiwTerminal DExpansion Municipal 1012912 Location Miami, FL 4 MIA(L—h r.rwl Hradgwrt "AWnpiym MlniCipal 30/2912 Location MIaM,.FL 5. MIA Int Airoort 756AD N. Terminal Aviation 0812099 Location Miami. FL. Request For proposals for A Lease of City -Owned Riverfront Property 82 • THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END of THIS DOCUMENT, ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS I`'e''r'r't:rrrl �' ar 1 Ilgr, Request for proposals For A Lease of City -Owned Riverfront property 83 1, Our Lady of Guadalupe Faith fused 1012015 $9,400,000 Loca t lo n Miami. FL 2Port Miami Cruise terminad 0 Expansion Municipal 1012012 $7,700,404 Location Miami, FL Ruben Bravo 3. Mall Florida Center High End Commercial 2004 $90,000,000 Sustainable Design & Location La Serena,Chile 4 Mall Puerta De Mar High End Commercial 2002 525,0W,0W Construction Manager Location La Serena, Chile Westminster Christi a n 5. Elementarvschool Educational 0912013 55,026,800 Location Miami, FL 1. Cast Coast Building Commercial 1012015 $10,375,10 LoeationCoral Gables, FL 2 University of Miami Hospital Hardening Healthcare 1212014 $6,900,060 Location Miami, FL Manuel ESCaSona 3Renovations &Expansion University of Miami11050italEmergent Healthcare 68/2014 $2,200.000 Project Manager Location Miami, FL University of Miami Hospital Radiation 4 Oncolally &Gamma Knife Renovations Healthcare 06/2014 $1,106,000 Location Miami, FL University of Miami Cox Science 5. Lab Renovation Healthcare 0612013 $1,500,000 Location Miami, FL I`'e''r'r't:rrrl �' ar 1 Ilgr, Request for proposals For A Lease of City -Owned Riverfront property 83 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMFNT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Name/Rale List of Five (5) Similar Projects Type of Project Project Total Project by Project Name & by Location Completion Cost Time t, East Coast Building Commercial 3012015 510,357,100 Location Coral Gables, FL Z Cima Corporate Center Class A office Building 0112011 520.000.400 Location Miami, Ft, Angel Cisneros 3, Residences at Vizcaya Location Miami, FL High End MultiFam4y 04/2911 518,700.000 General Superintendent 4 Boca Reach Club Resort Luxury Hotel 2008 $96,000,13M Location Baca Raton, FL SEI Conquistador Resort & Golden Doors Luxury Hotel 2007 532,000,000 Location Fajardo, Puerto Rico East Coast Building 1. Commercial 10/2015 510,357,100 Location Coral Gables, FL 2. Ravenswood Bus Maintenance Facility Municipal 09/2015 532,57$,241 Location Dania. FL Diana Pinerio Westminster Christian 3. Elementary School Educational [19/2013 35.026,800 Project Engineer Location Palmetto Bay, FL Aventura Government Center 4 Parking Expansion Municipal 10/2013 $3,876,473 Location Aventura, FL r) Ioe Moretti Development Multifamily 12/2013 510.000.000 Location Miami, It 'r'rri :r�• 1 2 k�rs� Request for proposals for A Lease of City -Owned Riverfront Property C0 UP Ln M Q = M c1 " > n � r � S m to M [D-1 m Z Z a c � �0> 70 cn ul W o aLn mO Z W Z --1 � 0 Request far Proposals Qualifications of Development EntitylTeam Instructions 3 M This form is to be completed and submitted in accordance with the RFP requirements to which your firm is responding. Do not leave any blanks or Z fail to provide any information or details that are required. Failure to submit this form or the use of any other form will result in the rejection of a -i proposal as non-responsive. The failure to provide the information or details required by the form may result in the rejection of a Response a non- responsive. RFP # 14-15-024 RFP Title: LEASE OF CITY -OWNED RIVERFRONT PROPERTY RFP Solicitation No.: Name of Proposer: Riverside Wharf, LLC. Name of Firm Office Location. City/State Discipline(s) to be provided License No. LEED Certified Staff p Berme Io, Ajamil & Partners. Inc. Miami, FL Architectural AAC000412 Yes N No ❑ M U) a Berme lo, Ajamil & Partners. Inc. Miami, FL Engineering 6304 Yes ❑ No 0 = D j u Berme lo, Ajamil & Partners, Inc. Miami, FL Landscape Architecture LCO000261 Yes ❑ No MCM Miami, FL Construction Management CL1C056898 Yes Q No ❑ C Yes ❑ No ❑ D a u o Yes ❑ No ❑ -n � n Yes ❑ No j Yes ❑ No ❑ Q D Yes ❑ No ❑ © - Yes E] No ❑ D M > t X Z Q Page 1 of 3 R1OT=,3 Q r+ C? C7 rU � C0 UP Ln M Q = M c1 " > n � r � S m to M [D-1 m Z Z a c � �0> 70 cn ul W o aLn mO Z W Z --1 � 0 m 0) cn p m U r C = w M n Z 0 C � 0 fl yr m o a Ln tA Y C1 C Ln 7A C Z M m Z Z rn Q Request far Proposals Qualifications of Proposer's Team � 2 KeV Personnel 3 Rl Only include personnel who will play a key role in the Work. Do riot include personnel for positions such as CADD Technicians, Inter or Associate Z level staff, and other similar support personnel. As stipulated in the RFP a 1 page resume is to be included for each of the key personnel- For Miscellaneous Services Agreements the Project Manager will be the lead point of contact for the City. Name Role Name of Firm License No. Years Years LEER Experience with Firm Certified Alexis Mantecon Manager Riverside Wharf. LLC, 15 7 Yes ❑ Na Guillermo Vadell Manager Riverside Wharf, LLC. 27 7 Yes ❑ No ❑ Willy A- Bermello Principal in Charge Bermello Ajamil&Partner 0007200 38 38 = Yes ❑ No ©} Raul Carreras Project Manager Bermello Ajamil&Partner 26 8 Yes ❑ No [ T .lames R. Bowers Architect Bermello Ajamil&Partner AR94133 13 5 Yes ❑x No ❑ 0 Randy P. Hollingworth Director of Plann.ILands Bermello Ajamil&Partner 35 7 Yes ❑ No 0 Manuel Escasena Project Manager MCMI 13 2 Yes [ No ❑ Erick Valderrama Pre Can. Manager MCM FLE #49ET183 23 5 Yes ❑x No ❑ p Armando Perez Chief Estimator MCM FLPE #28026 41 12 Yes ® No 71 -n Tl Ruben Bravo LEER Manager MCM 15 8 Yes ❑x No ❑ $_ Angel Cisneros General Superintendent MCM 20 1.5 Yes [] No C) Z Diana Pineira Project Engineer MCM FLPE #78253 8 3 Yes © No [ V1 Lyle Stern Brokerage ttoniver Stern Group 23 23 Yes ❑ No ❑x [!1 Z Page 2 of; RFP 4T Q i., cn p m U r C = w M n Z 0 C � 0 fl yr m o a Ln tA Y C1 C Ln 7A C Z M m Z Z rn Q W 4 • m y , 2 G+) V >n� r n y C rn co M D m Z Z ❑ cz -4 Q 4 Z-/; T 0 v Q r n � C Z W ri Request for Proposals Qualifications of Proposer's Team Key Personnel Only include personnel who will play a key role in the Work. Do not include personnel for positions sucl' as CARD Technicians, Inter or Associate level staff, and other similar support personnel. As stipulated in the RFP a 1 page resume is to be included for each of the key personnel- For Miscellaneous Services Agreements the Project Manager will be the lead point of contact for the City. Name Role Name of Firm License No- Years Years LEER Experience with Firm Certified Anthony Graziano Appraiser Integra Realty Resource 23 4.5 Yes ❑ No Q Kirk Lefgren Marina Design Ocean Consulting 13 tt Yes ❑ No ? Luis Garcia Restaurant Operations Garcia's Seafood 25 25 Yes ❑ No x❑ r, Esteban Garcia Restaurant Operations Garcia's Seafood 25 25 Yes ❑ No a r S Yes ❑ No ❑ 7 Yes ❑ No ❑ s Yes ❑ No ❑ y Yes ❑ No ❑ a Yes ❑ No ❑ Yes ❑ No ❑ } Yes ❑ No ❑ i L Yes ❑ No i i Yes ❑ No ❑ i Page 3 of 3 ) RFP 4T W 4 • m y , 2 G+) V >n� r n y C rn co M D m Z Z ❑ cz -4 Q 4 Z-/; T 0 v Q r n � C Z W 0 N - a Development/ Property Management Alexis Mantecon Guillermo Vadell Restaurant Operations Garcia's Seafood Luis Garcia Esteban Garcia Alexis Mantecon Manager Architecture, Engineering & Landscape Design Bermello, Ajamil 8 Partners, Inc. Willy A. Bermello Marina Design Ocean Consulting Kirk Lofgren Firms ideniiFied as Local are City of Miami Firms Cl Guillermo Vadell Manager General Contractor MCM Erick Valderrama Independant Appraiser Integra Realty Resources Anthony Graziano, MK. CRE Restaurant Brokerage Koniver Stern Group Lyle Stern Legal Team Greenberg Taurig 0 W n n M Z 2 M cn 2 Q r Q C D r- Cl O Z 90 CA M D X Z 2:'C) Cr � Z w V m S Z C N 0 O � � c m M > m Z z a m p A = G7 C v m 0 2 a re Z rn m z a THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. � a. Experience �J CI 0 11 C7 TH15 DOCUMENT 15 A 5UBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS A. Experience Riverside Wharf, LLC. is a real estate development venture whose sole managers are Alexis Mantecon and Guillermo Vadell. As per the Threshold Qualifications and Standards, the Proposers meet the following experience requirement: III) Proposer shall possess and have a minimum of five (5) years' experience directly involved in the ownership and stay -to -day operation of a business establishment substantially similar to that proposed during the last ten (10) years. as can be seen below: Alexis Mantecon was born in Miami, Florida on April 11, 1979 and has been in the real estate business since 1998 when he obtained his Realtors license at the age of 18. At Florida International University, Alexis graduated Magna Cum Laude with a Bachelors of Science in Finance and International Business. In 2005, Alexis obtained his CFA charter designation. Upon graduating from FIU, he worked for a multi -national hedge fund with offices in Florida, Toronto, Hong Kong and Montreux, Switzerland which invested in various types of asset classes including real estate. At the hedge fund, Alexis moved up the ranks and ultimately became Vice President responsible for generating and overseeing investment opportunities across multiple asset classes including real estate investments. He oversaw 14 analysts across the various offices. The real estate portfolio included multifamily, commercial, and industrial as well as real estate backed securities such as CMBS's, CD©'s and MBS's and derivatives such as Credit Default Swaps. In 2007, Alexis left Epsilon and founded M&M Property Ventures in 2007 and co-founded MV Real Estate Holdings LLC in 2008. After leaving Epsilon in 2007, Alexis (personally or through various entities) has purchased and sold over 150 different properties across various asset classes including single-family residential, multi -family, commercial office buildings, industrial land, telecom towers and various others asset classes. Alexis currently manages 174 residential units (140,400 Sq Ft) throughout South Florida with a portfolio occupancy rate of 97%. He has also fully rehabbed over 150 multi -family apartment units and partially rehabbed over 125 single family homes and condos. He also built and oversaw all aspects of construction on a $2 million luxury waterfront home. Guillermo Vadell was born in Santiago de Cuba, Cuba, May 19th, 1968. He came to the United States at the age of twelve, and has lived in the US ever since. He graduated from Florida International University, with a Bachelors degree in Electrical Engineering, in 1994. Subsequently, he worked for Coulter Electronics in the field of Bio Electrical Engineering forfour years, Thereafter, he joined Newstech Corp, where he served as a Computer Engineer and Manager, and conducted multiple business endeavors with Latin American countries and Europe. After that, he worked for Level 3 Communications, for four years where he served as a TAM/OSP (Technical Account Manager and Outside Plan Manager). He was responsible for the construction of the I`l'47'��rld' E I o4'Mf� Request For proposals for A Lease of City -Owned Riverfront Property 89 • THS DOCUMENT 15 A SUBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Fiber optic backbone for a substantial part of the state of Florida. Other responsibilities entailed the management of projects exceeding over 20 million dollars in cost. In 2001, he founded First Home View Corp, a real estae investment company. Through different entities/Trusts, he has acquired and turned around over 300 properties in the South Florida area. In this role, he gained experience in various aspects of the Real Estate industry including, but not limited to property management, construction, acquisitions, marketing and selling. In 2008, Alexis Mantecon and Guillermo Vadell founded MV Real Estate Holdings LLC and have focused on the acquisition, management, and development of distressed and/or strategic assets in South Florida. They have acquired over 150 properties in South Florida and currently own and manage a portfolio of over $25 million in Real Estate assets. Alexis and Guillermo have owned and managed numerous types of asset classes including office buildings with a restaurant component, telecom towers, industrial land, multi -family apartment buildings, and a Marina. Alexis and Guillermo are currently completing the construction of a 9 -story 100,000 square foot mixed use building in downtown Miami for which they obtained a $10.4 million construction loan that rolls into a permanent loan. The project includes roughly 40.000 sq ft of commercial space plus 2 restaurants totaling 13,000 square feet, 411 Request for proposals for A Lease of City -Owned Riwerfront Property 90 • b. Credentials, Resumes & Experience of Team that will operate Business THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEED AT THE ENO OF THIS DOCUMENT, f� ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS B. Creditials, Resumes & Experience of Team ALEXIS MANTECON 3367 Riviera Drive Coral Gables, Florida 33134 305-984-4861 ALE\@ia it1VREFI.COM Curriculum Vitae PROFESSIONAL OUALIFICATIONS 02/08 — Present My Real Estate Holdings LLC Miami, Florida r1 [araagin� :%Iember / Owner Co -oven and manage portfolio of real estate assets across various asset classes. ■ Invest in distressed real estate, restructure properties to maximize their value and develop signature properties in South Florida. ■ Have successfully acquired and either managed or disposed of over 150 properties since inception. 03/00 — 04/07 Epsilon Investment Management Boca Raton, Florida I ire President ■ Sourced deals and advised the principle of the hedge fund on a 51.6 billion portfolio of investments across various strategies including stocks, credit derivatives, Fonds, options, private equity transactions and real estate related investments. ■ Responsible for the day-to-day operations of the company including the accounting, financial audits, currency exposures, SEC filings, position limits, etc... • Managed a team of analysts and operations personnel in Boca Raton, Switzerland, Toronto and Hong Kong. 01 /99 —'2000 Esslinger-Wooten-Maxwell, inc. Miami, Florida Licensed Real Estate -lgent Irsted and sold commercial and residential properties to investors and homeowners. Advised clients on real estate and financing decisions. EDUCATION 1997 —2000 Florida International University Miami, Florida B.S.B.A., Majors: Finance and International Business ■ Overall G.P.A.. 3.50 ■ Mayor G.P.A.: 4.00 ■ Graduation: April 2WO 1990-1997 Belen Jesuit S"reparatory School Miami, Florida Graduate ■ Overall G.P. A.: 4.28 PROFESSIONAL ASSOCIATIONS ■ CFA Institute ■ Community Advisory Board Iviember of Florida International University Honors College ■ National Association of Realtors ACHIEVEMENTS ■ FICA Torch Award Recipient ■ CFA Charter I-lulder Request for proposals for A Lease of City -Owned Riverfront Property 91 �J • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARI-)b OBJECTIVE EDUCATION GUILLERM© D. VADELL To continue diversifying our portfolio in the market and expand our horizon onto more challenging, yet exciting and promising venues. 1991 - 1994 Florida International University Miami, Florida Bachelnr of Science, Electrical Engineering (BSEE) ♦ Specialization: Control Systems 1988-1990 Miami -[lade Community College Miami, Florida Associate Degree in Arts {AA) PROFESSIONAL EXPERIENCE LANGUAGES REFERENCES 2008 - Present MV Real Estate Holdings LLC. Miami. Florida Managing Member/Owner Have successfully acquired sold 1 rented over 130 properties since inception. Manage a portfolio of real estate: residential, commercial and industrial. Continue to invest in distressed real estate and restructure properties to maximize their value. 2001-2008 First Home View Corp. Miami, Florida Owner ♦ Through different entitiesfTrusts. I acquired and turned around over 300 properties in the South Florida area. In this role, 1 gained experience in various aspects of the Real Estate industry including, but not limited to property management, construction, acquisitions, marketing and selling. Became very successful and experienced in purchasing different types of properties, via foreclosure, tax deeds and HUD. 2041-2004 Level 3 Communications Miami, Florida Technical Account / Outside Plan Manager s Responsible for the constniction or the Fiber optic backbone for a substantial part of the state of Florida. Other responsibi ii ties entailed the management of multiple projects exceeding millions dollars. 1995-2001 NewsTech Co.IRovinter Inc. Miami, Florida Technical Servires Manager ♦ Responsible for managing the Technical Department in its everyday functioning. Further, provide knowledge and sales training to the sales team in order to enhance the profitability of the company. Been in charge of providing training in the usage of Imaging Equipment, Storage solutions, and Scanning, both in US and abroad - 1992 -1995 Coulter Corporation Miami, Florida Bio Electronic Technical Design Engineer ► Responsible for targeting laser and calculation power formulas. Trouble -shoot light scatter pre -amps as well as RF pre -amps and Triple Transducer Modules (TTM). Ability to interpret drawings I schematics, both electrical and mechanical. Fluent in English and Spanish References furnished upon request 4151 5W 141 PLACE, MIAMI, FL 33175 PHONE 786-760.1400 ♦ E-MAIL GU ILLERMOC.MVREWCOM Request for proposals for A Lease of City -Owned Riverfront Property 92 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS eA"_,� , soon i �oaio+s �ese+�sr s�ue�oo s:race rase SEAFOOD GRILLE & FISH MARKET Esteban Garcia Ulis Garcia The Garcia Brothers, eleven in total, were born into a family of fisherman in the provi rice of Las Villas, Cuba. As early as the age of nine, the boys would join their, father and head orrt to the sea, to lead the trade and Delp the family. They fished, they processed and they sold their catch -first in Los Villas and later expanding to neighbon rig province of Matanzas. In 1964, with Cuba in the grips of Castro`s communist regime, and their htrsiness confiscated by the Government, Esteban Garcia, the second youngest of the boys headed to ;Miami to start a new life. The other would eventually fallow. In 1166, Esteban Garcia Sr- started as ar commercial lobster and stone crab fisherman. He helped the local fishing business by opening Garcia Bros Seafood Company, which still is operated by Esteban Garcia Ir. & brother Luis E. Garcia. Right here on the Miami River. In 1979, the family evolved to retail the freshly caught fish, lobster, stone crab and shrimp. Those businesses were the foundation of what is currently Garcia's Seafood Grille & Fish Market. The Garcia family remains committed to providing the freshest local seafood available. By all accounts, the restauratit has been faithful to vision 0f the fotlrrding father, Esteban & Luis remain involved In the day-to-day operations of all aspects of the business. We aim to continue to evolve the dream and the aspirations orour father, to be the very best seafood in the city. 'Today, we continue to offer a steady supply ofour locally caught seafood, prepared to perfection. Garcia Brothers Wholesale Seafood has an estimated ten thousand (10,000) lobster traps and sixty five hundred (6,500) stone crab traps. We have 10 to 12 fisherman that catch an estimated, one hundred thousand (100,000) pounds of lobster and stone crab every season. At Garcia's Seafood we have between 40-45 employees and we sell every lobster and stone crab Caught from our boats, in our restaurant. We would like to expand our brand to have a presence in the other areas of the Miami River. We look forward to carrying out aur father's dream. 398 N.W. NORTH RIVER DRIVE • MIAMI, FLORIDA 53128 -TEL: 305.375,0765 • FAX: 305.375.0167 WVVW.GARCIASEAF00D.COM /'�retx..i.l�1 i Irrcr� - Request for proposals for A Lease of City -Owned Riverfront Property 93 �J • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT, K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS YEARS OF EXPERIENCE: 38 YEARS WITH FIRM: 38 EDUCATION Master of Architecture, University of Pennsylvania, 1975 Master of City Planning. University of Pennsylvania, 1975 Bachelor of Architecture. University of Florida, 1973 REGISTRATION Registered Architect State of Florida, 1974 Reg. No. AIR 0007200 PROFESSIONAL AFFILIATIONS American Institute of Architects American Institute of Certified Planners Professional Experience Mr. Bermello is Chairman of the Board and Principal of Bermello, Ajamil & Partners. Inc. He is a Florida -registered professional architect with over 30 years of experience in professional practice. His background includes a broad base of public and private projects, including development of large commercial facilities, educational Facilities, aviation, transportation and port related developments. Willy Bermello is recognized as one of the leading architects in South Florida. He has been involved with numerous state and local professional, civic and social organizations/institutions, typically at the senior level. He has received numerous honors and awards for his professional design work as well as his civic involvement within the community. EXPERIENCE Triptych, Miami (Design District), FL - Principal in Charge. Bermello Afamil & Partners, Inc. (B&A) has been retained by a private developer to provide the design of Triptych, a mixed-use high-rise consisting of 2 levels of retail, 3 levels of office, and the rest consisting of a 24 -floor hotel nestled between Midtown and the Design District in Miami. The retail portion of the development is approximately 40,000 -SF; office is about 40,040 -SF with an approximate gross square footage of 370,000. The building will also house a state-of-the-art mechanized parking system. This project is in the preliminary design stage. B&A is providing architectural, landscape architectural and civil engineering services on this project. LEER silver; COST: $120 M Chinaworld / Boyview Market, Miami. FL - Principal in Charge. Bermello Ajamil & Partners, Inc. (B&A} was commissioned to completely redesign the exterior and overall image and architecture of the project. B&A's vision incorporates a media arts video system integrated directly into new architectural elements; structural framing, decorative mesh, lighting. LED tubing and video systems. The combination of these elements creates a dynamic and ever-changing "kinetic arts" Facade with lighting, video and graphic art that brings the first "Times Square" style project to Miami. Four Seasons Hotel & Tower, Miami, Florida - Principal in Charge. Integrating a five- star hotel with luxury residential condominiums, timeshare units, a fitness facility, and Class A office space, is the multiple award-winning mixed-use 67 -story Four Seasons Hotel & Tower; the tallest structure in the southeastern United States, The Tower is clad in a glass and metal skin, with a low-rise podium of stone and pre -cast panels enclosing the parking garage For 1000 spaces. The base acts as an elevated ground plane while providing for retail uses that energize the surrounding area. A 65,004 S.F. roof terrace with a pool and gardens designed by renowned landscape architect Dan Kiley provides magnificent private spaces for relaxing and socializing while the extraordinary Club and Spa sets a new standard for spaciousness. Amenities for residents include a private entrance, elevators and an exclusive lounge. Size, 1.8 Million SF- COST: $225 M Embassy Suites Hotel, Miami, Florida Douglas Grand, coral Gables, Florida Oasis, Hallandale Beach, Florida Lakeview Center, West Palm Beach, Florida 404 Washington, Miami Beach, Florida The 1800 Club, Miami, Florida Gables Grand Plaza, Coral Gables, Florida Bally Resort, Miami, Florida Request for proposals for A Lease of City -Owned Riverfront Property FM • • C THiS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS YEARS OF EXPERIENCE; 26 YEARS WITH FIRM; B EDUCATION Architectural Technology - Florida International University AA, Architecture - Miami Dade College Professional Design Experience Mr, Carreras has over 26 years of experience in the field at architecture with specialization in program management, project team and consultant coordination, and production of construction documents. As a project manager, Mr. Carreras collaborates on a variety of public and private sector projects including government facilities, park and recreational complexes and hospitality/commercial properties. EXPERIENCE Lakeview Center, West Palm Beach, Florida - Job Captain for a state-of-the-art, mixed- use specialty urban center anchored by a 250 key, 4 -star Hotel Indigo and adjacent 317,633 SF office tower. The project was designed as a signature piece with sleek modern Dines and glass facades intended to reflect the historic buildings that surround it. The project has 58,253 SF of ground floor retail and restaurant space as well as 350 private residence units. The ground floor retail is designed to complement the existing City Place development and provide a link to other retail corridors in the area. The design will be registered with the U.S. Green Building Council upon completion. Embassy Suites Hotel, Miami, Florida - Project Manager for the design of this 39-5tary Downtown Miami hotel within the resurging Brickeil Financial District. The project was developed to accommodate 251 guest suites and provides 3 floors dedicated to guest amenities including a private guest dining area and marketplace shop, conference and meeting rooms, banquet rooms, as well as an outdoor pool deck with adjacent day -spa, fitness gym and bar/lounge. The amenity floors have been linked by way of a shared three-story open atrium containing a monumental stair and foyer space at each level. The building was designed to provide seven controlled - access parking levels for 217 vehicles. Responding to this site's urban and dynamic downtown location, the ground floor of the hotel provides not only a pedestrian -level hotel lobby and inviting vehicular plaza entrance; it also contains sidewalk storefront retail space suitable for restaurant and/or retail use. B&A has completed the Schematic Design of the project and procured initial approvals from permitting and land -use entitlement authorities, including: Planning and Zoning, Urban Design and Land Development Design Review Committee, and aviation authorities such as the FAA and County (MDAD) aviation department necessitated by the structure's height. The design will be registered with the U.S. Green Building Council upon completion of Design Development and is intended to achieve LEED Silver certification upon completion of construction. Pinecrest Community Center Master Plan, Village of Pinecrest, FL- Project Manager. Evaluation and Master Plan of the existing Pinecrest Community Center. The existing facility and 14,500 SF Community Center are approximately 5`/2 years old and well used by local residents. However, budgetary constraints at the time of design and a compromised planning stage has resulted in a facility now considered outgrown and undersized to serve the needs of the community. B&A was commissioned to evaluate the existing Community Center Building and surrounding facilities as well as currently offered programs and activities. In addition, B&A led a public outreach effort on behalf of the Village which included hosting three charrette-style Community Meetings, surveying residents and collecting public input. Miami Entertainment Complex Design Criteria Package, Miami, Florida Town Center Executive Plaza I & fl Office Buildings, Miami Lakes, Florida' Parkview Plaza Office Building, Orlando, Florida' SWISSCO Corporate Centre Office Building, Miami Lakes, Florida" Morgan Levy (formerly Doral Pork) Park & Community Center, Doral, Florida Reauest for proposals for A Lease of 00 -Owned Diver€rant Property 95 • L THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL, BACKUP ORiGINAL CAN BE SEEN AT THE END OF TH15 DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDAHUb YEARS OF EXPERIENCE: 13 YEARS WITH FIRM: 5 EDUCATION Master of Architecture, New School of Architecture and Design, San Diego, California, 2002 Bachelor of Architecture, iTESO University, Guadalajara, Mexico, 2000 Pre -Baccalaureate, Universidad Veritas de San Jose, San Jose, Costa Rica, 1995 REGISTRATIONS Registered Architect, Florida, No. AR94133 Registered Architect, Mexico, Na. 3285630 National Council for Architectural Registration Board Member Since 2007 Green Building Council LEED Accredlted Professional Since 2008 J�rrrv'srlr ! I ird� Professional Design Experience James Bowers has more than 13 years of architectural experience with a variety of projects. His experience includes maritime terminals and mixed-use residential, campus, corporate and transportation projects for public and private clients. He has been responsible for design, production and coordination of construction, design development and schematic design documents, review of shop drawings. construction management, code research and specification research, i# IC114,Ca1; Triptych, Miami (Design District), FL- Designer. Bermello Ajamil & Partners, lnc. (B&A) has been retained by a private developer to provide the design of Triptych, a mixed- use high-rise consisting of 2 levels of retail, 3 levels of office, and the rest consisting of a 20 -floor hotel nestled between Midtown and the Design District in Miami. The retail portion of the development is approximately 40,000-5F, office is about 40.000 -SF with an approximate gross square footage of 370,000. The building will also house a state- of-the-art mechanized parking system. This project is in the preliminary design stage. B&A is providing architectural, landscape architectural and civil engineering services on this project. LEED silver; COST: $120 M NE 2nd Street, Fort Lauderdale, Florida - Designer, Project consists of a single residential tower with 170 units. This sleek, modern tower is fully integrated into a base containing 236 parking spaces, recreation deck and loft units. The ground floor includes approximately 4,500 SF of commerciailretail space and a residential lobby. The project successfully obtained both DRC and Commission Approval in record time. Tri -Property Study, Fort Lauderdale, Florida - Designer, Residential! Mixed-use, 1,400,000 SF, 6.3 acres of urban infill, 4 residential towers ( 17 to 30 stories). 1300 residential units, 65,000 SF of retail. Palacio de to Bahia, Panama City, Panama - Designer, Residential 1 Mixed-use, 85 Doors, 15 levels of hotel, 64 levels residential, two amenity decks, two grand lobbies, commercial 1 retails space and a rotating restaurant of the building pinnacle. Portside Office Tower, Fort Lauderdale, Florida - Designer for an 18 level, 400,000 SF office tower with a 7 level parking structure on a site with an existing 75,000 SF office structure. Currently submitted for City approval, Bhortlya City, Bangalore, India - Architect. Planning of 547,639m2 of Hotel { Resort, Medical Offices, School, Hospital, Aquatic Park and 2 mixed use high end residential towers for a small city. Maritime Center Towers and Creek Plaza, Dubai Maritime City, Dubai, United Arab Emirates - Designer, Part of a 230 -hectare reclaimed land area. Serves as the new center for maritime business and commerce. Incorporates over 45 mixed-use residential and office tower projects, retail areas, a marine academy and the industrial marine operations facilities. The total GFA for the project is approximately 3.2 million square meters, with facilities to support 125,000 people. Jumeirah Beach Development, Dubai, UAE Utilifles Field Services Complex, Pompano Beach, Floddo Request for proposals for A Lease of City -Owned Riverfront Property PI • THIS DOCUMENT 15 A SUB5TITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDb YEARS OF EXPERIENCE: 35 YEARS WITH FIRM: 7 Professional Experience Randy Hollingworth has more than 30 years experience as an urban and landscape designer. His specialty is the design and development of mixed use projects and their integration within the urban fabric. With a comprehensive understanding of the needs and requirements of various land uses, Mr. Hollingworth has prepared development plans for a wide range of project types. He has developed master plans and design guidelines for commercial and retail areas, office parks and residential communities in numerous waterfront locations throughout Florida. In addition to his extensive urban design and planning experience, Mr. Hollingworth has worked on a wide variety of landscape design oriented projects. EXPERIENCE_ Redevelopment Plan, Clearwater. Florida' - Project Manager responsible for creating an overall Redevelopment Plan for the downtown area including open space, mixed use and a comprehensive traffic pian. Work was conducted through a series of workshops utilizing a visual preference survey which allowed residents to actively participate in the planning process. The plan was approved and adopted and is now being implemented based on various components of the Master Plan. /` , :ui', I I kall Star Island at Dubai Waterfront, Dubai, UAE - Project Manager responsible for the development of the master plan and conceptual design. The program encompassed the creation of an island for a large multiuse entertainment complex to be located adjacent to The Palm in Jebel Ali. The development calls for a combination of resort hotels, entertainment activities, retail, office and private condominiums centered on a large tourist attraction in the form of a man made volcano. In addition, several large marinas are incorporated into the overall master plan to provide access opportunities from the numerous waterfront developments in close proximity. Hart' S. Truman Presidential Park, Key West, florido Sullivan Park, Deerfield Beach, Florida George Brummer Park, Pompano Beach, Florida James Archer Smith Park, Homestead, Florida Wittkop Park Master Plan, Homestead, Florida West Drive Park, North Bay Village, Florida South Treasure Drive Park, North Bay Village, Florida City Wide Parks Master Plan, Hallandale Beach, Florida Request for proposals for A Lease of City -Owned Riverfront Property 4A Mina Rashid, Dubai, UAE - Project Manager responsible for the master planning and Development Control Regulations (DCR) outlining the urban and architectural EDUCATION design guidelines of this new 1200 acre waterfront community. The total size of the Master of Landscape development is approximately 21,000,000 SM consisting of mixed-use office and Architecture in Urban Design, Harvard University, 1964 residential, retail, and hotels, incorporating both land and water base mass transit systems. The project is designed to be the first Blue -Certified community in the Bachelor of Landscape world and will therefore call for the use of state-of-the-art technology and design Architecture, University of methods to ensure environmental compliance. The Master Plan includes three large Guelph, 1978 marinas and a comprehensive water oriented transit system to relieve pressure on the roadway system. The proposed land fill area of the project will include two large islands bisected with canals to serve as access -ways for water taxis. In addition, the northern portion of the project will serve as the new primary cruise ship facility for Dubai, berthing up to 6 ships simultaneously, The project, located between Palm Deira and Dubai Maritime City, in Dubai, offers a unique opportunity to take advantage of numerous water oriented developments with an extensive water transit system. /` , :ui', I I kall Star Island at Dubai Waterfront, Dubai, UAE - Project Manager responsible for the development of the master plan and conceptual design. The program encompassed the creation of an island for a large multiuse entertainment complex to be located adjacent to The Palm in Jebel Ali. The development calls for a combination of resort hotels, entertainment activities, retail, office and private condominiums centered on a large tourist attraction in the form of a man made volcano. In addition, several large marinas are incorporated into the overall master plan to provide access opportunities from the numerous waterfront developments in close proximity. Hart' S. Truman Presidential Park, Key West, florido Sullivan Park, Deerfield Beach, Florida George Brummer Park, Pompano Beach, Florida James Archer Smith Park, Homestead, Florida Wittkop Park Master Plan, Homestead, Florida West Drive Park, North Bay Village, Florida South Treasure Drive Park, North Bay Village, Florida City Wide Parks Master Plan, Hallandale Beach, Florida Request for proposals for A Lease of City -Owned Riverfront Property 4A �J • • THIS DOCUMENT iS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K►. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Eric Valderrama, Pre -Construction Manager Summary of Qualifications Erick has 23 years of construction experience in the local South Florida market. He is a Civil Engineering graduate of Florida International University, is a Certified General Contractor and LEED Green Associate. He currently serves on Miami -Dade County's Community Affordable Housing Strategies Alliance (CAHSA) Board, Florida International University Alumni Association Board of Directors, and is Executive Board of Director with the Latin Builder's Association. He has supervised a variety of large-scale projects. His diverse experience during his career includes management of construction operations, risk management, and estimating. Erick is currently the Preconstruction manager overseeing contract negotiations, estimating, and purchasing. He also collaborates with the project owner, government agencies, and architectural design teams. Relevant Project Experience Summary EAST COAST BUILDING, Miami, FL Cost: $10.3 M Scope of Work: 95,000 SF, 9 story mixed-use storage facility with 831 storage units, ground floor retail space, mezzanine space & roof top restaurant tenant. Project consists of spread footing foundations & post tension slabs. Site is located adjacent to the Miami River where extensive dewatering will be required. FiU LIBRARY EXPANSION, Miami, FL. Cost: $25 M Scope: The FIU Library expansion included a fast track, phased construction to add 200,000 SF to the existing 70,000 SF library. The project included a structural retrofit to the existing three stories and addition of five additional floors (with future structural provisions for a total of fifteen floors). The project was carefully constructed allowing the existing library sophisticated computer systems and ongoing university and library operations to continue uninterrupted while all construction activities were ongoing. FIU SCHOOL OF LAW, Miami, FL Cost: $32 M Scope: The building consists of a multilevel 150,000 SF structure including a state accredited law library, auditorium, courtrooms, and classrooms that include instructional media and office spaces. WESTMINSTER CHRISTIAN ELEMENTARY SCHOOL, Palmetto Bay, FL Cost: $5 M Scope: This project consists of constructing a new building while the campus is in operations after coordination of the demolition of existing buildings. The new 50,000 SF building includes classrooms, music lab, arts lab, community center, learning center, dance room, conference rooms, faculty lounge and offices. Exterior recreational areas, landscaping and 41 new parking spaces wee also included in the project scope. MIAMI INTERNATIONAL AIRPORT 756AD NORTH TERMINAL, Miami, FL Cost: $155.6 M Scope of Work: This project consists of two Packages. Package 1 entails the General construction of renovations in the existing terminal building located in terminal areas B through C on 3 levels. The scope includes: removal of escalators and elevators and new structure slab fill in of floor openings, selective demolition of terminal interior finishes such as ceilings, flooring, partitions and millwork, and the removal and relocations of mechanical, electrical, fire sprinkler and plumbing utilities. Package 2 requires the General construction of renovations in the existing terminal building located in terminal areas A through D. The scope consists of: construction of new escalators and elevators, curtain walls, storefronts and automatic entrance doors, structural foundation and building framing, selective demolition and replacement with new terminal interior finishes such as ceilings, flooring, partitions, stainless steel wall panels and millwork, and the removal, relocations and installation of new mechanical, electrical, aviation specialty systems, fire sprinkler and plumbing systems. This Package primarily includes work on 4 levels, but there will be additional work required beyond the primary work Floors, such as the new AHU room on the fifth level. Alf of this work required extensive planning and coordination with all airport groups and users for re-routing of passengers, construction of demising walls, pedestrian corridors and all life safety systems. EUiLDING EXCELLEN F Years of Experience 23 years % of Time on Project 100% (Precon) Education Bachelor of Science in Civil Engineering, Florida International University 1995 Registrations & Professional Affiliations • Certified Florida General Contractor # 060203 • Certified Florida Engineering Intem # 497ET183 • ISO 9001:20138 IntAuditor • LEED Green Associate • OSHA 30 Hour • Primavera P6 • Suretrack • AutoCAD • Primavera Expedition • Meridian Prolog Manager ---- Request for proposals for A Lease of City -Owned Riverfront Property 98 L C] THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Armando Perez, Chief Estimator Summary of Qualifications Armando Perez has over 41 years of comprehensive experience in Building Construction projects in the Municipal, Commercial, Aviation, Educational, and Residential market sectors. He is a graduate of Florida International University and is a licensed Professional Engineer. Armando is also a State of Florida Certified Uniform Building Code Inspector, General Contractor and a LEER accredited professional. Relevant Project Experience Summary EAST COAST BUILDING, Miami, FL Cost: $10.3 M Scope of Work: 95,000 SF, 9 story mixed-use storage facility with 831 storage units, ground floor retail space, mezzanine space & roof top restaurant tenant. Project consists of spread footing foundations & post tension slabs. Site is located adjacent to the Miami River where extensive dewatering will be required. MIAMI SENIOR HIGH SCHOOL, Miami, FL Cost: $54.4 M Scope of Work: This project consists of extensive historical renovations, additions, and alterations to the oldest high school in South Florida. When completed in early 2014, the school's capacity was increased from 1.649 to 2.800 student stations. PORT MIAMI TERMINAL D EXPANSION, Miami, FL Cost: $7.7 M Scope of Work: Phased addition and renovation to existing Terminal D consisting of 27,000 SF of construction. Expansion of existing building includes structural steel frame, glass curtain wall installation, MEP tie-ins to existing system and all associated finishes. When this project was completed the addition met all LEER Certifications, JOE MORETTI DEVELOPMENT, Miami, FL Cost: $10 M Scope of Work: Preconstruction coordinator for this Miami -Dade Public Housing and Community Development (PHCD), affordable housing project, which consists of constructing a 13 -story building with 116 apartment units of 583 SF each for a total of 98,024 SF. The first floor includes a lobby waiting area, fitness center, and back of house mechanical rooms. On the second floor, the residences will have use of a library room, computer room. TV room and a common laundry room. The building is a post tensioned concrete structure with masonry exterior walls and a stucco finish. The residences will be provided a surface asphalt parking lot for 73 spaces. AVENTURA GOVERNMENT CENTER PARKING EXPANSION. Aventura, FL Cost: $3.8 M Scope of Work: Preconstruction coordinator for the construction of new grand stand seating on the north side to match existing stadium. Scope included demolition of existing bleachers, new foundations and columns, steel beams and columns, club seats and benches. site work, utility tie-in to existing facility and remodeling of bathrooms. PORT MIAMI TERMINAL D EXPANSION, Miami. FL Cost: $7.7 M Scope of Work: Phased addition and renovation to existing Terminal D consisting of 27,000 SF of construction. Expansion of existing building includes structural steel frame, glass curtain wall installation, MEP tie-ins to existing system and all associated finishes. When Completed the addition will pursue LI=ED Certification. FIU Football Stadium Expansion, Miami, FL Cost: $4.4 M Scope of Work: Construct the new North Stadium to match existing. Scope includes demolition of existing bleachers, new foundations and columns, steel beams and columns, club seats and benches, site work, utility tie in to existing facility, remodeling bath rooms. RUILDING EXCELLD%CJ_= Years of Experience , 41 years % of Time on Project 100% (Precon) Education Bachelor of Science in Sructural Engineering, Florida International University, 1976 Registrations & Professional Affiliations Registered Professional Engineer, Florida #28026 Florida Certified General Contractor # CGCO09896 Florida Certified uniform Building Code Inspector LEER AP BD+C Request for proposals for A Lease of City -Owned Riverfront Property 99 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Ruben Bravo, LEED Manager Summary of Qualifications Ruben Bravo has 15 years of experience in the construction industry with a focus on sustainable construction. He is a LEED Accredited Professional. Green Advantage Certified, and served as the Green Schools Chair for the USGBC South Florida. He is deeply committed to the implementation of sustainable construction practices at all of MCM's projects and served as the LEED Manager on the GSA Trades Shop Facility which is the first LEER Silver certified building owned by Miami -Dade County, the GSA (Nest Lot Mixed -Use Facility and the Port of Miami Terminal D Expansion project. All three of these projects achieved their LEED Certification goal with the later two projects exceeding the clients certification requirements. Relevant Project Experience Summary PORT MIAMI TERMINAL D EXPANSION, Miami, FL Cost: $7.7 M Scope of Work: Phased addition and renovation to existing Terminal D consisting of 27,000 SF of construction. Expansion of existing building includes structural steel frame, glass curtain wall installation, MEP tie-ins to existing system and all associated finishes. When this project was completed the addition met all LEED Certifications. MIAMI SENIOR HIGH SCHOOL, Miami, FL Cost: $54 M Scope of Work: This project consists of extensive historical renovations, additions, and alterations to the oldest high school in South Florida. When completed in early 2014, the school's capacity was increased from 1.649 to 2.800 student stations. MALL FLORIDA CENTER, Santiago, Puerto Rico Cost: $90 M Scope of Work: Pre -construction and construction phases. Construction of a new 40 5 -story concrete frame structure totaling 2,755,000 sq ft. WESTMINSTER CHRISTIAN ELEMENTARY SCHOOL, Palmetto Bay. FL Cost: 55 M Scope of Work: This project consists of constructing a new building while the campus is in operations after coordination of the demolition of existing buildings. The new 50,000 SF building includes classrooms, music lata, arts lab, community center, learning center. dance room, conference rooms, faculty lounge and offices. Exterior recreational areas, landscaping and 41 new parking spaces were also included in the project scope. MIAMI-DADE ISD (FORMERLY GSA) TRADES SHOP FACILITY, Miami, FL Cost: $13 M Scope of Work: This design -build project was the first Miami -Dade County LEED Silver Certified facility utilized by County employees and is now home to the Internal Services Division, Design and Construction Services Division. The site had an existing warehouse that was demolished in accordance with LEED Requirements which outline recycling the appropriate construction and demolition materials such as concrete, asphalt, wood and steel. The facility contains 20,000 sq. ft. area of office space, lunch room, over 8,000 sq. ft. of stock room area, training room, record storage and a furniture warehouse facility all comprising 100,000 total square feet. Parking was also provided for 112 private and County vehicles, low emitting and fuel efficient vehicles and bicycles on the 5.5 acre property. NORMAN S. EDELCUP SUNNY ISLES BEACH K-8, Miami, FL Cost: $28.5 M Scope of Work: Construction Management at Risk of a new Multi -story K-8 Facility designed to house 1,642 student stations on 2.1 acres in the City of Sunny Isles. The school is organized on a "School -within -a -School" concept and totals approximately 145,400 gross square feet, including a 4 story classroom building. Additionally, a separate 3 story parking garage was also built. 4 -al BUILDINC- 1=XC17LL6NCE Years of Experience 15 years % of Time on Project Education M.S. in Construction Management, Florida International University, 2008 Master in Construction Management and R.E. Development, P. University Catholic of Chile, 1998 B.A. in Civil Construction Technology, P. University Catholic of Chile, 1996 Registrations & Professional Affiliations • LEED AP BD+C • Green Advantage Request for proposals for A Lease of City -Owned Riverfront property 100 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENE] OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Manuel EsCasena, Project Manager Summary of Qualifications Manuel Escasena is a proactive, results -oriented Project Manager with 13 years of comprehensive experience in complex construction projects in the healthcare and education market sectors. Manuel is a graduate of both Florida International University and Loyola University, and is a LEER -accredited professional. He is responsible for overall project coordination and supervision and some of his specific project job tasks include, coordination of all logistics for project start-up, instilling and ensuring a safe project environment, assuring that all project documentation such as permits, daily reports, as-builts and shop drawings are kept and maintained, implementing checklists and guidelines to optimize quality and minimize rework, maintain updated project schedule, documenting impacts and changes bi-weekly, and attending regular meetings with the project owner to address critical items and maintain a positive and professional relationship. Manuel) takes pride in well managed and coordinated project operations, which has allowed his jobs to consistently meet schedule and budget objectives. Relevant Project Experience Summary EAST COAST BUILDING, Miami, FL Cost: $10.3 M Scope of Work: 95,000 SR 9 story mixed-use storage facility with 831 storage units, ground Floor retail space, mezzanine space & roof top restaurant tenant. Project consists of spread footing Foundations & post tension slabs. Site is located adjacent to the Miami River where extensive dewatering will be required. UNIVERSITY OF MIAMI HOSPITAL HARDENING, Miami, FL Cost: $6.9 M Scope of Work: This project featured the complete replacement of all building fenestration components, including curtainwalls, storefronts and windows. UNIVERSITY OF MIAMI HOSPITAL EMERGENCY DEPARTMENT RENOVATION AND EXPANSION, Miami, FL Cost: $2.2 M Scope of Work: The scope involved the strategically -phased renovation of some 7.000 SF of active Emergency Department work space, as well as the new construction of an additional 2,000 SF of work space for the same. All work activities transpired amid standard hospital operations without any manner of safety or security incident. UNIVERSITY OF MIAMI HOSPITAL RADIATION ONCOLOGY AND GAMMA KNIFE RENOVATIONS, Miami, FL Cost: $1.1 M Scope of Work: The total project scope was defined by the renovation of 5,000 SF of offices, exam rooms and equipment control stations. Also included was the renovation of a nearly -2,000 SF linear accelerator vault, including new slab -on -grade and total equipment installation coordination. UNIVERSITY OF MIAMI HOSPITAL SPECT CT RENOVATION AND 9TH FLOOR UPGRADES, Miami, FL Cost: $750k Scope of Work: This diverse project included the renovation of 1,000 SF of exam rooms in preparation for the installation of new CT scan equipment. Additionally, the project scope included selective improvements to 5,000 SF of patient rooms and nurse stations. UNIVERSITY OF MIAMI COX SCIENCE LAB RENOVATION, Miami, FL Cost: $15 M Scope of Work: The scope of work for this project was defined by the near-total renovation of an approximately -3.000 SF chemical research laboratory. UNIVERSITY OF MIAMI GABLES ONE TOWER EXTERIOR UPGRADES, Miami, FL Cost: $1.6 M Scope of Work: This project called for the complete replacement of all fenestration components. *00* BUILDING EXC✓ l_L(=NGC % of Time on Project 100% (Precon) Education M.S. in Construction Management, Florida International University, 2010 B.S. in Business Administration Loyola University, 2004 Registrations & Professional Affiliations LEE Accredited Professional Building, Design & Construction OSHA 30 Hour - Primavera P6 - Advanced User Training Request for proposals for A Lease of City -Owned Riverfront Property 101 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Angel Cisneros, General Superintendent Summary of Qualifications Angel Cisneros brings 20 years of construction experience to the MCM operations team. He has a wide variety of project experience in the Residential, Educational, Healthcare, Commercial market sectors. Angel works directly with the overall Project Superintendent providing assistance in the coordination and supervision of all field activities. Some of his specific project job tasks include, coordination of on-site functions, enforcing timely execution of work, maintaining updated as-builts and daily reports, monitoring compliance with MCM Safety Program, maintaining quality control, providing direction and instruction to subcontractors, dealing with inspectors and agencies having jurisdiction, and any additional field assignments required to ensure project success. Through Angel's hard work, dedication and commitment, he can assure the sound completion of any construction project on time and within budget. Relevant Project Experience Summary EAST COAST BUILDING, Miami, FL Cost: '$10.3 M Scope of Work: 95,000 SF, 9 story mixed-use storage facility with 831 storage units, ground floor retail space, mezzanine space & roof top restaurant tenant_ Project consists of spread footing foundations & post tension slabs. Site is located adjacent to the Miami River where extensive dewatering will be required. CIMA CORPORATE CENTER, Miami. FL Cost: $20,000k Scope of Work: A 10 story, office building, with a total cost over $20 million dollars. In charge of the structural phase from foundations to top off. The office building consists of three stories of parking garage of an average of 7200 sq.ft. per floor and one floor underground averaging 9200 sq.ft. The ground floor is designed for a retail area and a luxurious lobby. Each of the garage levels are constructed of poured in place concrete with a post tension system. On the top five floors, above the garage, sit the offices with fancy terraces and planters. These floors are constructed of precast joists and reinforced concrete slabs averaging a total of 5540 sq.ft. RESIDENCES AT VIZCAYA, Coconut Grove, FL Cost: $18.7 M Scope of Work: Eighteen sophisticated condominium residences, located in the heart of Coconut Grove, Florida. With the fully renovated City of Miami Park and its beautiful Royal Palms, Live Oak trees align the views of this neighborhood street, adding to the grandeur of our property. Drive up the fully pavered ramp to the second floor lobby and observe the ornate architectural finishes of natural keystone and detailed stucco workmanship; the marble covered lobby accompanied by the tranquil sounds of the interior fountains. The Condominiums are fully equipped with modern plumbing and lighting fixtures, communications equipment and appliances. Fourteen of these residences are enriched with breathtaking views of Biscayne Bay, and below, lies the properties own private marina. Thirteen infinity edged pools adorn the seven stories of post -tensioned slabs. BOCA BEACH CLUB RESORT, Boca Ratan, FL Cost: $96 M Scope of Work: a $96 million addition to The Boca Beach Club Resort located right on the beach at the Boca Raton inlet. The post -tensioned concrete structure has two underground levels of parking garage consisting of approximately 60,000 sq.ft. and seven stories of condominium apartments, each floor having about 40,000 sq.ft, beach cabanas and luxurious grand lobby. EL CONQUISTADOR RESORT & GOLDEN DOORS, Fajardo, Puerto Rico Cost: $32 M Scope of Work: a 28,000 sq.ft. Ballroom with a 2000 sq.ft. men's and women's bathrooms. Also furnished with a 5200 sq.ft. kitchen and 6100 sq.ft. storage room to one side. Meeting rooms with two levels consisting of 15,000 sq.ft. each floor. Total estimated value $32 mil. and 50,000 sq.ft. of building. Structure is constructed of reinforced concrete and steel girders and bar joist roofs. Highly fashioned and elegant interior finishes and beautiful and exotic landscaping. MCS BUILDING EXGELLQNCE Years of Experience 20 years % of Time on Project 100% (Precon) Education Bachelor of Science in Construction Management, Florida International University, 2015 Registrations & Professional Affiliations • Certification of Management Building Information Modeling • Autodesk Revit Architecture 2011 Essentials, 24 hr • Autodesk Navisworks Manage 2013 Essentials, 16 hrs Request for proposals for A Lease of City -Owned Riverfront Property 102 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Diana Pineiro, Project Engineer Summary of Qualifications Diana Pineiro is a Project Engineer with 8 years of experience in the construction industry. Her areas of expertise include projects in the (list market sectors identified under areas of expertise) market sectors. Diana is a graduate of Florida International University, and just passed her Professional Engineer exam. She assists the entire project team, working directly with the Project Manager and Superintendent assisting in contract administration and coordination of work. Some of her specific project job tasks include, coordinating and reviewing all submittals for compliance with Contract Documents and schedule, generating and maintaining RFI's and meeting minutes, coordinating and monitoring material/equipment deliveries of long Lead items for compliance with schedule and approved submittals, reviewing and submitting all O&M Manuals and Close --Out Documents, assisting superintendent with quality control, and assisting Project Manager with schedule updates, preparation of requisitions and other duties as requested. Diana is a team player with great organizational and communication skills, who is dedicated to the successful on-time completion of her projects. Relevant Project Experience Summary EAST COAST BUILDING, Miami, FL Cost: $10.3 M Scope of Work: 95,000 SE 9 story mixed-use storage facility with 831 storage units, ground floor retail space, mezzanine space & roof top restaurant tenant. Project consists of spread footing Foundations & post tension slabs. Site is located adjacent to the Miami River where extensive dewatering will be required. RAVENSW❑OD BUS MAINTENANCE FACILITY, Dania Beach, FL Cost: $32.5 M Scope of Work, The scope of this project calls for the phased demolition of the existing, occupied Broward County Ravenswood Bus Maintenance Facility and the construction of 167,468 SF multi -story, multi -use double -tee parking structure and 47,320 SF bus maintenance facility. The 249 space parking structure was designed to minimize it.s Carbon Footprint in order to satisfy the requirements for LEED Gold Certification. WESTMINSTER ELEMENTARY SCHOOL, Miami, FL Cost: $5 M Scope of Work: This project consists of an addition to one of the most prestigious famffy- oriented K-12 schools in Miami. The elementary campus addition involves constructing a new building white the campus is in operations after coordination of the demolition of existing buildings. JOE MORETTI DEVELOPMENT, Miami, FL Cost: $10 M Scope of Work: Preconstruction coordinator for this Miami -Dade Public Housing and Community Development (PHCD), affordable housing project, which consists of constructing a 13 -story building with 116 apartment units of 583 SF each for a total of 98,024 SF. The first floor includes a lobby waiting area, fitness center, and back of house mechanical rooms. On the second floor, the residences will have use of a library room, computer room. TV room and a common laundry room. The building is a post tensioned concrete structure with masonry exterior walls and a stucco finish. The residences will be provided a surface asphalt parking lot for 73 spaces. AVENTURA GOVERNMENT CENTER PARKING EXPANSION, Aventura, FL Cost: $3.8 M Scope of Work: Preconstruction coordinator for the construction of new grand stand seating on the north side to match existing stadium. Scope included demolition of existing bleachers, new foundations and columns, steel beams and columns, club seats and benches, site work, utility tie-in to existing facility and remodeling of bathrooms BUILDING CXCELL9NCC Years of Experience 8 years % of Time on Project 100% (Precon) Education B.S. in Civil and Environmental Engineering Florida International University 2006 Registrations & Professional Affiliations • Florida Professional Engineer #78253 Primavera PB Training Workshop /ire r'rvv%•- I l ,in.� Request for proposals for A Lease of City -Owned Riverfront property 103 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Anthon M. GrazianoMAI CRE `"`��""R°s°"rt` Y f i Miami/Palm Heath Experience The Douglas Centre 2572 Douglas Read. SUIIP Snl Senior Managing Director of Integra Realty Resources — Miami/Palm Beach. Coral Gables, FL 33134 Mr. Graziano has actively counseled and advised clients on the sale, leasing, valuation, management, and development of commercial real estate assets throughout New Jersey and the northeast U,S. t 305 670 0271 F 30S 670 2275 since 1992- Mr. Graziano served as the Managing Director of IRR -Coastal NJ from 1999-2011. Mr. Graziano was retained in 2012 to serve as Senior Managing Director of IRR - MlamilPalm Beach, i iil Tl Mr. Graziano"s unique professional perspective is a blend of his educational background which includes formal training in architecture, urban planning, macro and micro economics, real estate finance, institutional asset management, and land development. His market experience in sales, leasing, management, and valuation disciplines combine to bring practical real world answers to complex planning and development projects. He has been actively Involved as a consultant and/or member of a consultant team on various major redevelopment and land use projects for public and private clients over the past 24+ years. Mr. Graziano has specialized in consulting and valuation assignments for corporate and private clients on a wide array of complex issues related to estate and condemnation matters, title defects, environmental contarnination/damages, air rights, partial and fractional interests, contract disputes, and mediation/arbitration disputes. Mr. Graziano's experience in these matters provides a comprehensive framework for effective strategic real estate consulting. Professional Activities & Affiliations Member: Economic Roundtable - Miami Beacon Council [2012 -present] Board of Director: Integra Realty Resources, Inc. (2011 -present) Director: South Florida Chapter of the Appraisal Institute (2014-2015) Member: University of Miami Alumni Association Advisory Board Member: Urban Land Institute -South Florida Board Member: Builders Association of South Florida (BASF) Subject Matter Expert (SME): Appraisal Practice Board, Appraisal Foundation Member; Appraisal Institute (MAI) Member: Counselors of Real Estate (CRE) Fellow: Royal Institute of Chartered Surveyors (FRICS) (2014) International Association of Assessing Officers (IAAO) National Association of Realtors (REALTOR) At Leadership Development Advisory Council, March 1998 - February 2001 Lifetime Member: National Eagle Scout Association (NESA) Licenses Florida, State -Certified General Real Estate Appraiser, RZ3510 New Jersey, State -Certified General Real Estate Appraiser, RGO01261 Education University of Miami, Coral Gables, Florida 1988.1992 Degree: Bachelor of Science in Land Development and Planning, School of Architecture New York University Real Estate Institute, New York, New York 1993-1996 Degree: Master of Science in Real Estate Development and Investment Qualified Before Courts & Administrative Bodies Qualified and accepted as an expert before the Federal Bankruptcy Court {Newark & Southern District of Texas); US Federal District Court (Southern District of Florida); Florida Circuit Court (Miami - Dade and Broward Counties); NJ State Tax Court; NJ Superior Court - Chancery Division; NJ Superior Court - Law division; Monmouth, Atlantic, and Ocean County Boards of Taxation; various municipal planning and zoning boards throughout New Jersey. amgraziano@irr.com - 305.570.0001 x320 0 __ &V,i"tie <' � I ir./r/ Request for proposals for A Lease of City -Owned Riverfront Property 104 11 THIS DOCUMENT IS A 5UBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS KIRK LOFGREN Mr. Kirk Lofgren is an environmental professional with more Phan thirteen years of experience in the environmental science field as a consultant to industry and government. His areas of profession and interest include environmental permitting and compliance in the State of Florida, environmental assessment and monitoring of marine, estuarine, and coastal projects; restoration and mitigation of estuarine and marine ecosystems: as well as assessing and applying environmental rules and regulation.. Mr. Lofgren has both domestic and international experience in regulatory approvals & design for marina's and docking facilities, marine coastal development projects, outlining strategies and protocols for regulatory success, and in developing Environmental Assessments and Impact Statements in accordance with National and International guidelines and regulations. Recent project experience includes: ■ Flagstone Island Gardens (City of Miami) - Environmental permit acquisition & monitoring during construction. ■ Grove Harbour Marina Expansion (City of Miami) - Working through design and permitting stage. Construction scheduled to commence. • Coconut Grove Sailing Club (City of Miami) - Permitting and Initial Design for the new 175 - slip mooring field. • Resorts World Bimini - Ferry Terminal project (Bimini. Bahamas) - Environmental permitting, as well as compliance and monitoring during construction. • Sunny Isles Docking Facility (Sunny Isles Beach, Florida) - Design, and environmental permitting, for a 120 -slip marina (36 wet slips 1$4 dry slips). Request for proposals for A Lease of City -Owned Riverfront Property 105 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. cr Proposer/Principals Role or Experience in the Successful Design/Renovation/Buildout of Projects r� • THIS DOCUMENT IS A SUBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF TH15 DOCUMENT. ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS C. Proposer/Principals Role or Experience in Successful Design/Renovation/Buildout of Projects The Proposers have successfully built and turned around numerous properties. Most recently, they have built a $15 million, 100,000 sq ft mixed use building at 123 SW N River Dr. The building is comprised of +1- 90,000 sq ft of commercial use and 13,000 sq ft of Restaurant Space. The Proposers assembled 2 parcels of land, upzoned the property from t6-8 to t6-12, and were intimately involved in the design, estimating, permitting and construction of the project. PLEASE SEE FOLLOWING PAGES FOR ADDITIONAL PROJECT EXPERIENCE %�xr.rlr f lltrr�� - Request For proposals for A Lease of City -Owned Riverfront Property 106 • L� THIS DOCUMENT lS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Four Seasons Hotel & Tower Location: Miami, FL Completion date: 2004 Project Type: Commercial I Residential Cost: $225 Million 7 Zones Design Center Location: Kuwait City, Kuwait Completion date: 2008 Project Type: Commercial/Retail Iii cll'I.k I 1 trnl f Request for proposals for A Lease of City -Owned Riverfront Property 107 L� • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Chinaworld 1 Bayview Market Location: Miami, FL Completion date: TSD Project Type: Commercial / Retail Tri ptyc h Location: Miami (Design District), FL Completion date: 2016 Project Type: Mixed - Use Cost: $120 Million / r$•r.�rrl<• / I ii r l Request For proposals For A Lease of City -Owned Riverfront Property 108 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT, K ATTACHMENTS THRESHOLD QUALIFICATIONS & S t-ANDARDS 404 Washington / China Grill Location: Miami Beach, FL Completion date: 1995 Project Type: Mixed - Use Gables Grand Plaza I Ruth Chris Steakhouse Location: Coral Gables, FL Completion date: 1998 Project Type: Mixed - Use Cost: $17 Million %wevtrdr ! 1 Ira. ^ Request For proposals For A Lease of City -Owned Riverfront Property 109 • �J �J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS 2601 Braserie Location: Miami, FL Completion date, TBD Project Type: Restaurant Lakeview Center Location: West Palm Bench, FL Completion date: TBI] Project Type: Mixed - Use Cost; $240 Million Request for proposals for A Lease of City -Owned Riverfront Property 110 • C L_J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATibNS & STANDARDS Residences of Vizcaya Location: Miami, FL Completion date: 10/201 1 Project Type: Residential Cost: $18 Million Miami Beach Patrol Headquarters & Auditorium Location: Miami Beach, FL Completion date: 08/2009 Project Type: Cost: $6.6 Million Request for proposals For A Lease of City -Owned Riverfront Property 111 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Pacific Coral Way Office Building Location: Miami, FL Completion date: 09/2011 Project Type: Commercial Cost: $19 Million usa.� Miami Senior HS Renovations Location: Miami, FL Completion date: 03/2014 Project Type: Design -Build Cost: $54 Million • Request For proposals for A Lease of City -Owned Riuerfront Property 112 c: TH15 DOCUMENT 15 A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS Miami Int"I Airport 756AD North Terminal Improvements Location: Miami, FL Completion date: 10/2012 Project Type: Design -Build Cost: $155 Million Port of Miami Cruise Terminal D Expansion Location: Miaml, FL Completion date: 111 /2012 Project Type: Design -Build Cost: $7.7 Million ■`14'r�r�r�c' I � .�ef7 _ Request For proposals For A Lease of City -Owned Riverfront Property 113 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 0 d. Proposer/Principals similar Experience • • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS D. Proposer/Principals Similar Experience The Proposers successfully obtained a $10.4 million loan for a $15 million, 100,000 sq ft mixed use building at 123 SW N River Dr. The building is comprised of +1- 90,000 sq ft of commercial use and 13,000 sq ft of Restaurant Space. The Proposers assembled 2 parcels of land, upzoned the property from t6-8 to t6-12, and were intimately involved in the design, estimating, permitting and construction of the project. Request for proposals For A Lease of City -Owned Riverfront Property 114 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENL OF THIS DOCUMENT• e. Background Check • • �J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS E. Background Check Background checks and consent forms are in a sealed envelope included with the original. Request for proposals for A Lease of City -Owned Riverfront Property 115 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT• i #. Responsive & Responsible • • LJ • �J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN ATTHE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS F. Responsive & Responsible Refer to Tab "Attachments - Certifications Exhibit D" Request for proposals for A Lease of City -Owned Riverfront Property 116 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 9 g. Financial & Business References • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS ! G. Financial & Business References Refer to Tab "Attachments - Exhibit B" for a last of business & financial references for each principal including contact names, company and/or project names and contact telephone numbers of individuals who can attest to the projects with which the individual has worked on. In addition you can find: • Financial reference letters • Exhibit B2 Letter of Commitment, which shows the Proposer's capacity to remodel/renovate/ build -out, maintain and operate the proposed business operations. 0 .e -IF Request For proposals For A Lease of City -Owned Riverfront Property 117 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 40 h. Sketch of Proposed Improvements L r L_A THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS THRESHOLD QUALIFICATIONS & STANDARDS H. Sketch of Proposed Improvements Refer to Tab "Attachments - Exhibit B" for a 8 1/2 x 11 sketch of the proposed improvements. Request for proposals for A Lease of City -Owned Riverfront Property 118 THIS DOCUMENT IS A SUBSTITUTION TO 1p ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. n - 3 fri _,ra ro �1 • !'C ATTACHMENTS THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE Elf❑ OF THIS DOCUMENT. CERTIFICATIONS Exhibit Q LIMITED LIABILITY COMPANY CERTIFICATION STATE OF Florida COUNTY OF Miami - Dade Members I HERESY" CERTIFY that a meeting of the Board -of Directors of Riverside Wharf LLC ("Limited Liability Company"), a Limited Liability Company existing under the laws of the State of Florida held on September 11 , 20 15 , the following resolution was duly passed and adopted: "RESOLVED, that, as Riverside Wharf LLC of the Limited Liability Company, Alex Mantecon is hereby authorized to execute the Proposal dated, September 14 , 2015 , to the City of Miami and this Limited Liability Company and that the execution thereof, attested by an Officer of the Limited Liability Company and with a seal affixed, shall be the official act and deed of this Limited Liability Company." I further certify that said resolution is now in full force and effect. } 015 } n Managing Member/Owner Seat % I Affiant/Title � 'Q(7t�ttr' s ��Nsywrr. ri'M`4r� IN WITNESS WHEREOF, the above was sworn to and subscribed before me this 041 ' ' day of $S r Cr 20f$7, by A4LWf CJS C�'i• 61rtJ4 who is personally known to me or who had produced the following identification: I ir'rr-�ir/c' � l kN ! M, "OMMI$ PM r EE 85M EXPIRES: February 6, 2017 9-W tlru rknary Rti. urgeir.Re„ �lrZ � � - /Z_Z1_ Notary Public, State4 Florida My Commission Expires: v__ FAILURE TO COMPLETE, SIGN, AND RETURN THIS FORM MAY DISQUALIFY YOUR RESPONSE. PRIOR TO SELECTION, THE RESPONDENT BEING CONSIDERED FOR AWARD WILL HAKE TO SUBMIT A CERTIFICATION OF GOOD STANDING FROM THE FLORIDA DIVISION OF CORPORA TIONS. Request for proposals for A Leese of City -Owned Riverfront Property 119 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. ATTACHMENTS DISCLOSURE/DISCLAIMER Exhibit E EXHIBIT "E" PROPOSER'S DISCLOSURE/DISCLAIMER Any proposal deemed to be not responsible or non-responsive will be rejected. A responsible Proposer is one that has the capability in all respects to fully perform the requirements set forth in the proposal and the proposed Lease Agreement ("Agreement"). and that has the integrity and reliability which will assure good faith performance. A responsive Proposer is one that has submitted a proposal that conforms in all material respects to the Request for Letters of Interest ("RFP"). Thus, for example, a proposal that has not substantiated the financial capability of a prospective Proposer may be rejected. The City of Miami reserves the right to accept any proposals deemed to be in the best interest of the City, to waive any irregularities in any proposals, or to reject any or all proposals and to re - advertise for new proposals, in accordance with the applicable sections of the City Charter and Code. In its sole discretion, the City may withdraw the RFP either before or after receiving proposals, may accept or reject proposals, and may accept proposals which deviate from the RFP as it deems appropriate and in its best interest. In its sole discretion, the City may determine the qualifications and acceptability of any party or parties submitting proposals in response to this RFP. Pursuant to City Charter Section 29-A, the City reserves the right to reject all proposals and further, to terminate the RFP process and/or contract after a public hearing in the event of any substantial increase in the City's conunitment of funds, Area, or services, or in the event of any material alteration of any contract awarded. This RFP is being furnished to the recipient by the City of Miami ("City") for the recipient's convenience. Any action taken by the City in response to proposals made pursuant to this RFP or in making any awards or failure or refusal to make any award pursuant to such proposals, or in any cancellation of awards, or in any withdrawal or cancellation of this RFP, either before or after issuance of an award, shall be without any liability of obligation on the part of the City and its advisors. Following submission of proposal, the Proposer agrees to deliver further details, information and assurances, including financial and disclosure data, relating to the proposal and the Proposer, including the Proposer's affiliates, officers, directors, shareholders, partners and employees as requested by the City in its discretion. Any reliance on these contents, or on any communications with City officials or advisors, shall be at the recipients' own risk. Prospective Proposers should rely exclusively on their own investigations, interpretations and analyses in connection with this matter. The RFP is being provided by the City and its advisors without any warranty or representation express or implied, as to its content, its accuracy or completeness. No warranty or representation is made by the City or its advisors that any proposals conforming to these requirements will be selected for consideration, negotiation or approval. Request For proposals for A Lease of City -Owned Riverfront Property 120 ATTACHMENTS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. LDISCLOS URE/EDISCLAIM'ER The information contained in this RFP is published solely for the purpose of inviting prospective Proposers to consider the development opportunity described herein. Prospective Proposers should make their own investigations, projections, and conclusions without reliance upon the material contained herein. The City and its advisors shall have no obligation or liability with respect to this RFP and the selection and award process or whether any award will be made. Any recipient of this RFP who responds hereto fully acknowledges all the provisions of this disclosure and disclaimer and is totally relying on said disclosure and disclaimer and agrees to be bound by the terms hereof. Any proposals submitted to the City or its advisors pursuant to [hiss RFP are submitted at the sole risk and responsibility of the party submitting such proposal. The offering is made subject to correction of errors, omissions, or withdrawal from the market without notice. Information is for guidance only and does not constitute all or any part of an agreement. Furthermore, until such time as an agreement is executed by the City, the selected Proposer shall not have any vested rights, nor title or interest in the subject Property or in the development proposed thereon. The City and the recipient will be bound only hand when a proposal, as same may be modified, and the applicable definitive agreements pertaining thereto, are approved by the Mayor and City Commission and then only pursuant to the terms of the definitive agreements executed among the parties. A response to this RFP, or all responses, may be accepted or rejected by the City for any reason, or for no reason, without any resultant liability to the City or its advisors. The City is governed by the State of Florida Sunshine Law and all proposals and supporting data shall be subject to disclosure as required by such law. All proposals shall be submitted in sealed bid form and shall remain confidential to the extent permitted by Florida Statutes, until the date and time selected for opening the responses. In the event of any differences in language between this disclosure and disclaimer and the balance of the RFP, it is understood that the provisions of this disclosure and disclaimer shall always govern. Further, any dispute among the City and the Proposer shall he decided by binding arbitration in Miami -Dade County, Florida, before arbitrators sanctioned by and in accordance with the rules of the American Arbitration Association. Accepted b Signature — Riverside Wharf, LLG. Company Name Alexis Mantecon 1 Manager Printed Name/ Title 0911102015 Date Request for proppsaJs for A Lease of City -Owned Riverfront Property 121 4WW IONT- cr) 0 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. PROPOS;ER'S ORGANIZATIONAL ATTACHMENTS HISTORY/STRUCTURE & CHART The Proposer's Principals, Alexis Mantecon and Guillermo Vadell, are both Miami locals that share a vision and a passion for great spaces and properties in their hometown. They take great pride in everything they do and take on projects with the utmost attention to detail. Alexis Mantecon was born and raised to immigrant parents and was raised with very limited means. He attended Belen Jesuit Prep school and later went to FILL under 3 academic scholarships from which he received a bachelors in science in Finance and lnternational Business. He then landed a prestigious job at a boutique hedge fund working 14-16 hour days as an analyst where he climbed the corporate ladder by proving himself and became the VP of a $1.4 bin hedge fund before the age of 30 and managed over 14 analysts in the US, Hong Kong, Toronto and Switzerland. At the fund, he gained invaluable experience in all types of asset classes including real estate, where he oversaw the real estate portfolio for the fund. Guillermo Vadell was born in Cuba and came to the United States at the young age of 12. In Miami, he attended Southwest High and later went to FIU where he obtained a bachelors degree in electrical engineering. Guillermo went on to work for various companies such as Newstech and Level 3 Communications where he was the project manager for projects over $20 million in scope. He always had an interest in Real Estate and in 2001 founded his own real estate company called First Home View. From this point on, he has transacted on over 300 properties in almost every industry. In 2008, Alexis and Guillermo, long time family friends, combined their assets and founded MV Real Estate Holdings LLC. MV is the sole member of Riverside Wharf LLC and Alexis and Guillermo are the sole owners of MV. MV is focused on the acquisition, management, and development of distressed and/or strategic assets in South Florida. MV has acquired over 150 properties in South Florida since its inception and currently owns and manages a portfolio of over $25 million in Real Estate assets. Alexis and Guillermo truly understand the local Miami market and their diverse educational experience and work background create synergies that are invaluable to a project such as this one. Furthermore, they both share a similar passion for seeing the Miami River become a true destination in the City of Miami for people arriving by boat or by land. Organizational Chart can be found in Talo "Attachments - Threshold Qualications & Standards" as Exhibit C3. Request for proposals For A Lease of City -Owned Riverfront Property 122 -�m • K ATTACHMENTS Riverside Wharf. LLC Ttta a wrnlrnfiDn w cwrllaerei vrmu +1e1 otx w reuxn •9uvnex rut MC4ar r 4 ae SCHC1 wain MRD. na+w 4E CR'+ eYA$1.wtui stsT,eetV sW vnfultW •nP V1rtR e1�.�Rmrc[P i Pr.e. ne0v tltN PPe IrrwYveFE Yx Ate.`t Im/P+r1's�e � Ee0ltreEFe 1MM1 d kre Yxe Uw Y11 YITEwAw {TR ti E91n IF1rISP_ HwwMP ralwrtW 91' Ove 1tl w 9,e rwF� 1KTM I�Y....nPer. Ts 7seO9F 19IPr1ripYn Yes Rt11' e99:IIOq 1141R1> I1PN a1P. 1179. Fsrxi bww Ptu Pw xw IB11.0etl91� W11f1EPNP WT[RAIO Mrt99 sr,crtel M 19 es SevPn^br1 tle{ Nle ewMPw Awwner k reriovKlPre Prue N tro dl a®bnx M mperysePteee it eR9PNE Psn mM corm+cies, pwG tysp sc 1M91 a1416i9 P IPP61 ati•I1fi. 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I+r�lQ ily Df �Iie®i rs. w.... ,•• • ^a •.... , ur THY R DD MOTA �1 MDY PAY ItECEPT FOYS A.EcwY r1.•romsrue•ussa __..- INTERIM P i+YP. x �vswKl Request For proposals for A Lease of City -Owned Rlverfront Property 123 THIS DOCUMENT 45 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. K ATTACHMENTS ADDITIONAL INFORMATION 0 Lease Agreement Affidavit -I LJ Lease Agreement Affidavit September 11. 2015 County of: Miami -Dade I Alexis Mantecon, Managing Member/Owner of Riverside Wharf, I.I.C. hereby certify that I accept the Lease attached to the RFP as Appendix Ill. I understand that certain provisions of the lease shall remain non-negotiable, including, but not limited to, any and Gil items required by this RFP, as well as those provisions relating to indemnification, hold harmless, insurance, and guarantees. In the event of a conflict between the terms of this RFP and the form Lease included herein as Appendix 111. the terms of this RFP shall govern, until such time that the Lease is negotiated and executed between the parties. Once the Lease is executed, the terms contained therein shall govern. The City may make additional changes to the Lease prior to execution in order to ensure consistency with the terms of this RFP, subject to review and approval by the City Aftorney. Alexis Mantecon Managing Member/Owner IN IfNE55 WHEREOF, the Bove was sworn to and subscribed before me this //,day of 2[> by � [,� �AAITs i2 . who is personally known to me or w o had produced the following identification; Notary Public-S6ate of Florida My Commission Expires: MINA W"rrE NClwy Public - Stall 01 Fimibi F_vv Request for proposals for A Lease of City -Owned Riverfront Property 124 /�fjl` TN IS DOCUMENT IS A SUBSTfTUI ORIGINAL. BACKUP ORIGINAL CA SEEN AT THE END OF THIS DOCU f t � _ I Integra Realty Resources Miami/Palm Beach 0 Market and Marketability Study Miami Riverfront Restaurant Site(s) Retail Property 236 & 298 SW. North River Dr. Miami, Miami -Dade County, Florida 33130 Prepared For: Riverside Wharf LLC Effective Date of the Report: July 15, 2015 IRR - Miami/Palm Beach File Number: 123-2015-0201 � THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 125 • • RENDERNG 2 i f hb r he RENDERING bn Miami'Riverfront Restaurant Site(s) 236 & 298 SW. North River Dr, Miami, Florida THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 126 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. September 1, 2015 Alex Mantecon Managing Member Riverside Wharf LLC 13943 SW 140th Street Miami, FL 33130 SUBJECT: Market Value Appraisal Miami Riverfront Restaurant Site(s) 236 & 298 SW. North River Dr. Miami, Miami -Dade County, Florida 33130 IRR - Miami/Palm Beach File No. 123-2015-0201 Dear Mr. Mantecon:: Integra Realty Resources — Miami/Palm Beach is pleased to submit the accompanying market and marketability study of the referenced property. The client for the assignment is Riverside Wharf LLC. The subject is an existing property containing 3,240 square feet of gross leasable area. The improvements were constructed in 1939; however, the market study assumes that the improvements on the subject will be demolished and replaced with a planned waterfront restaurant. The site area is 0.70 acres or 30,509 square feet. This report is responsive to the City of Miami Request for Proposals (RFP,#14-15-024) for "Lease of City -owned Riverfront Property" relative to item G "Market Analysis and Economic Feasibility", and the intended use is to address the elements of financial feasibility and the requirements of the RFP. Based upon our analysis, the site size is somewhat constrained, but the overall development plan contemplates low-rise multi -story, upscale development of two restaurant buildings, with offsite parking (by valet). The two buildings proposed for tenancy contemplate full service dining options, with the second building proposed for a seafood restaurant with retail food sales as a part of the project. 127 Integra Realty Resources In Miami In Orlando In Naples/Sarasota rvharn, The Douglas Centre The Empire Building Horseshoe Professional Park 96ando 2600 Oouglas Rd. 28 W- Central Blvd. 2770 Horseshoe Drive S. ,ctithwesr Flarida Suite 801 Suite 3170 Suite 3 Coral Gables, Ft 33134 Orlando, FL 32801 Naples, FL 34104 www.imcom 13051670-0001 (407)843-3377 (235)-643.66,88 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. September 1, 2015 Alex Mantecon Managing Member Riverside Wharf LLC 13943 SW 140th Street Miami, FL 33130 SUBJECT: Market Value Appraisal Miami Riverfront Restaurant Site(s) 236 & 298 SW. North River Dr. Miami, Miami -Dade County, Florida 33130 IRR - Miami/Palm Beach File No. 123-2015-0201 Dear Mr. Mantecon:: Integra Realty Resources — Miami/Palm Beach is pleased to submit the accompanying market and marketability study of the referenced property. The client for the assignment is Riverside Wharf LLC. The subject is an existing property containing 3,240 square feet of gross leasable area. The improvements were constructed in 1939; however, the market study assumes that the improvements on the subject will be demolished and replaced with a planned waterfront restaurant. The site area is 0.70 acres or 30,509 square feet. This report is responsive to the City of Miami Request for Proposals (RFP,#14-15-024) for "Lease of City -owned Riverfront Property" relative to item G "Market Analysis and Economic Feasibility", and the intended use is to address the elements of financial feasibility and the requirements of the RFP. Based upon our analysis, the site size is somewhat constrained, but the overall development plan contemplates low-rise multi -story, upscale development of two restaurant buildings, with offsite parking (by valet). The two buildings proposed for tenancy contemplate full service dining options, with the second building proposed for a seafood restaurant with retail food sales as a part of the project. 127 rI LJ • �J Alex Mantecon Riverside Wharf LLC September 1, 2015 Page 2 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE ENO OF THIS DOCUMENT. Fallowing our detailed study of the area and market, IRR Miami concludes that there are Few opportunities in Miami to locate a waterfront restaurant. The Miami River waterfront is a working waterfront, and does not maintain the sweeping views of bayside or oceanside waterfront dining. However, the location of the site along the proposed riverwa;k, and the proximity to the downtown, which is growing significantly, are both positive drivers for the development of upscale dining. The feasibility of the project will be determined in large part by the underlying rental rates structured under the City land lease. IRR Miami has analyzed operational restaurant costs, and provides a recommended lease structure which meets the City requirements, but also contemplates that successful restaurants thrive based on their ability to manage costs. Based on market supply and demand, IRR concludes that 4,500 new middle and upper- income households will be introduced into the Downtown Miami market in the coming 36- 48 months. In addition, the waterfront restaurant market draws from the larger county -wide growth with a five-year projections of 64,000 households through 2020. This later estimate includes the 4,500 households downtown, representing 7% of total county growth in the downtown area. IRR Miami concludes that there is sufficient demand to support the development as proposed. To meet the market, the land lease rate structure should support an initial lease -up and stabilization period, and lease increases (over a base -lease) should be indexed as a percentage of landlord's rental revenue as proposed under the RFP to insure continued feasibility of the project. The phasing is not known at this point, but the project should be phased with a minimum of {6) months for development/planning/pre-leasing; a 12-18 months construction period with options to extend; and an additional 12 months in which to reach stabilized operations with consideration for a reduced or nominal land lease payment during the initial development phase to mitigate upfront development costs\risks. Based upon our study, we conclude that the base minimum rental rate as proposed under the RFP is initially high, but a participation rate of 15% of revenue will provide the City significant upside provided that the market forecasted rental rates (6%o-8% of gross sales) and restaurant revenue thresholds ($800/SF) are achieved. 0 128 Alex Mantecon Riverside Wharf LLC September 1, 2015 Page 3 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE 5EEN AT THE END OF THI5 DOCUMENT. We hope the report meets your needs. We are available for follow-up as additional questions may arise regarding the content of this report. If you have any questions or comments, please contact the undersigned. Thank you for the opportunity to be of service. Respectfully submitted, Integra Realty Resources - Miami/Palm Beach Anthony Graziano, MAI, CRE Senior Managing Director Florida RZ3510 Telephone: 305.670.0001, ext. 320 Email: amgraziano@irr.com THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 130 Table of Contents Market Analysis and Economic Feasibility Executive Summary 2 General Information 4 Identification of Subject 4 Purpose of the Study 5 Scope of Work 5 Economic Analysis 6 Miami -Dade County Area Analysis Surrounding Area Analysis 13 Retail Market Analysis 22 Proposed Improvements Description and Analysis 27 Competitive Property Analysis 32 Feasibility Analysis 38 Analysis of Restaurant Operations and Projections: 38 Ratable and Employment Analysis 43 Addenda A. Consultant Qualifications 10 Miami Riverfront Restaurant Site(s) 130 Market Analysis and Economic Feasibility Executive Summary 2 TH15 DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Market Analysis and Economic Feasibility Executive Summary 1, There is sufficient demand for retail and restaurant product along the Miami River owing to continued population growth in Downtown Miami and the region at large which the project will serve, 2, IRR Miami forecasts that the subject will compete with the growing concentration of restaurants and retail space along the Miami River, including Seaspice, Garcia's Seafood Grill & Fish Market, Casablanca Seafood Grill & Fish Market, Crust Pizza, and a planned SushiSamba and Duck & Waffle. 3. There are a number of vacant/available restaurant spaces within existing condominium buildings, but these are not deemed directly competitive to a free standing location on the riverfront. 4. IRR Miami projects that the subject's current market rental rates (for improved restaurants) similar to the subject project would range from $30 - $50/5F of net rentable area as a base minimum rent, with percentage rent equating to 6%-8% of restaurant food and beverage sales. Restaurants generally can afford 6%-S% of gross sales for rental payments (before expenses) indicating a threshold level of sales at $350 - $850 per square foot. 5. Our analysis indicates that the development pian is not feasible (able to supportthe construction and site development costs) without a minimum rental rate for land and buildings at $50/5F, requiring $800 per SF in gross sales at minimum. 6. IRR's analysis of confidential restaurant sales volumes indicates that the $800/SF threshold is achievable at the subject location, although we note that sales over $500 per square foot require upscale use, and an active bar with high liquor sales. 7. Based upon these parameters, and our review of proposed construction costs, the subject is deemed feasible (teased on the minimum land rental rate within the RFP) at gross restaurant sales of $800 per SF with rent at an equivalent 8% of gross sales. The minimum land rent as proposed is marginally feasible if restaurant sales are less than $800 per SF, or if the rental rate is less than 8% of gross sales, 8. IRR Miami recommends that the City consider upfront temporary abatement, or reduction in the base minimum rents during the leasing and construction phase to mitigate construction and stabilization risks. 9. IRR Miami concludes that at the base minimum rental rate specified in the RFP, the developer will be granting the City a much higher participation in revenues in the early years. However, IRR Miami concludes the overall project is feasible at the base minimum rental specified Miami Riverfront Restaurant Site(s) ®r 131 • a z m LLJ o z H v U a CO eta= �" cr F- ¢ p w CL o Y W w mr z s„ 0 z 2 w C] Ln • • Market Analysis and Economic Feasibility Executive Summary within the RFP, with future revenue participation on the part of the City at 15% of collected rental revenue to the landlord. Since the landlord's revenues will be indexed to the Gross Sales at the restaurant, this will allow the City to participate in rental growth over time. 10. IRR Miami's analysis of the potential tax revenue indicates the subject site development will likely generate an additional $200,000 in annual tax revenue. 11. IRR Miami's analysis of potential employment base expansion indicates addition of 100-160 full time employees (FTE) with average earnings at $28,000 - $45,000 per employee on average net of tips/gratuity income which is generally not included in the employer wage estimates. Miami Riverfront Restaurant Site(s) 10 132 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE General Information SEEN AT THE END OF THIS DOCUMENT. 0 General Information • Identification of Subject 4 The subject is an existing property containing 3,240 square feet of gross leasable area. The improvements were constructed in 1939; however, the market study assumes that the improvements on the subject will be demolished and replaced with a planned waterfront restaurant. The site area is 0.70 acres or 30,509 square feet. Property Identification Property Name Miami Riverfront Restaurant Site(s) Address 235 & 298 SW. North River Dr. Miami, Florida 33130 Tax ID 01-0114-000-2010 and 01-4137-031-0010 Owner of Record CITY OF MIAMI-GARCIA BRO ASSET MANAGEMENT DIVISION Riverside Wharf LLC is bidding on the City RFP to land lease the referenced property for development in accordance with the RFP requirements. The site under study is captioned in red below: 0 v n ❑ r-7 'C-1 'v MNWMCME 517E BREAKDOWN Miami Riverfront Restaurant Site(s) x �o N$ %WC/iYV ba 0 133 L • L_J THIS DOCUMENT IS A SUBSTITUTION To ORIGINAL, BACKUP ORIGINAL CAN BE General Information SEEN AT THE END OF THIS DOCUMENT. Purpose of the Study The purpose of the study is to complete a market and financial analysis to satisfy the requirements of the City of Miami RFP #14-15-024 including an analysis of proposed uses based upon analysis of demand generators, competitive supply, market pricing, competitive position and anticipated market share/capture. The analysis should specifically provide the rationale for proposed marketing approaches for each targeted segment demand. Scope of Work IRR Miami has completed a Market and Marketability Study relating to a proposed restaurant with along the Miami River. The study includes specific analysis of the following areas: 1. Provide an overview of the Miami River restaurant market in Miami -Dade County; 2. Provide an overview of the waterfront restaurant market in Miami -Bade County; 3. Analyze comparable gross sales / rental rates of similar restaurant space in Miami -Dade County; 4. Project market rent and pro -forma (plans and specs to be provided) of the proposed project; S. Provide a valuation and investment analysis of the participation rent to the City of Miami with applicable scenario testing of major assumptions (market rent & development costs). 6. Provide an analysis of the potential tax/ratable additions associated with the proposed development plan. 7. Provide an analysis of potential employment associated with the proposed development plan. We provide recommendations regarding the proposed project and its specific characteristics. The report will address the overall Miami and subject submarket areas, as well as the micro and macro treads within the market. IRR will analyze the likelihood of success of the proposed project compared to competitive projects within its market. Miami Riverfront Restaurant Site(s) 0. 134 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE Miami -Dade County Area Analysis SEEN AT THE END OF THIS DOCUMENT. 6 Economic Analysis Miami -Dade County Area Analysis Miami -Dade County is located in southern Florida approximately 5 miles west of Miami CBD. It is 1,898 square miles in size and has a population density of 1,405 persons per square mile. Miami -Dade County is ,part of the Miami -Fort Lauderdale -West Palm Beach, FL Metropolitan Statistical Area, hereinafter called the Miami MSA, as defined by the U.S, Office of Management and Budget. Population Miami -Dade County has an estimated 2015 population of 2,666,776, which represents an average annual 1.3% increase over the 2010 census of 2,496,435. Miami -Dade County added an average of 34,068 residents per year over the 2010-2015 period, and its annual growth rate exceeded the State of Florida rate of 1.1%. Looking forward, Miami -Dade County's population is projected to increase at a 1.3% annual rate from 2015-2020, equivalent to the addition of an average of 35,060 residents per year. Miami -Dade County's growth rate is expected to exceed that of Florida, which is projected to be 1.2%. Employment Total employment in Miami -Dade County is currently estimated at 1,046,970 jobs. Between year-end 20304 and the ,present, employment rose by 39,513 jobs, equivalent to a 3.9% increase over the entire period. There were gains in employment in six out of the past ten years despite the national economic downturn and slow recovery. Miami -Dade County's rate of employment growth over the last decade surpassed that of Florida, which experienced an increase in employment of 0.3% or 21,743 jobs over this period. A comparison of unemployment rates is another way of gauging an area's economic health. over the past decade, the Miami -Dade County unemployment rate has been generally lower than that of Florida, with an average unemployment rate of 6.5% in comparison to a 6.9% rate for Florida. A lower unemployment rate is a positive indicator. Recent data shows that the Miami -Dade County unemployment rate is 5.4% in comparison to a 5.5% rate for Florida, a positive sign for Miami -Dade County economy but one that must be tempered by the fact that Miami -Dade County has underperformed Florida in the rate of job growth over the past two years. Miami Riverfront Restaurant Site{sj irr_ 135 Population Trends Population 2010 Census 2015 Est. 2020 Est. Compound Ann. % Chng 2010-2015 2015- 2020 Florida 18,801,310 19,897,507 21,068,301 1.1% 1.2°% Miarni -Da de County 2,496,435 2,666,776 2,842,074 1.3% 1.3% Miami 399,457 429,357 458,173 1.5°% 1.3% Source; Claritas Employment Total employment in Miami -Dade County is currently estimated at 1,046,970 jobs. Between year-end 20304 and the ,present, employment rose by 39,513 jobs, equivalent to a 3.9% increase over the entire period. There were gains in employment in six out of the past ten years despite the national economic downturn and slow recovery. Miami -Dade County's rate of employment growth over the last decade surpassed that of Florida, which experienced an increase in employment of 0.3% or 21,743 jobs over this period. A comparison of unemployment rates is another way of gauging an area's economic health. over the past decade, the Miami -Dade County unemployment rate has been generally lower than that of Florida, with an average unemployment rate of 6.5% in comparison to a 6.9% rate for Florida. A lower unemployment rate is a positive indicator. Recent data shows that the Miami -Dade County unemployment rate is 5.4% in comparison to a 5.5% rate for Florida, a positive sign for Miami -Dade County economy but one that must be tempered by the fact that Miami -Dade County has underperformed Florida in the rate of job growth over the past two years. Miami Riverfront Restaurant Site{sj irr_ 135 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Miami-Dade County Area Analysis SEEN AT THE END OF THIS DOCUMENT. 7 `r Employment Trends Total Employment (Year End) Unemployment Rate (Ann. Avg.) Miami-Dade % % Miami -Dade Year County Change Florida Change County Florida 2004 1.007,457 7,726,652 3.9% 4.6% 2005 1,023,160 1.6% 7,990,613 3.4% 3.2% 3.7% 2006 1,033,285 1.0% 8,128,744 1.7% 2.8% 3.2% 2007 1,033,503 0.0% 8,014,408 -2A% 3.1% 4.0% 2008 1,004,798 -2.8% 7,585,913 -5.3% 4.8% 6.3% 2009 960,981 -4.4% 7,209,010 .5.0% 10.496 10.4% 2010 973,323 1.3% 7,260,875 0.7% 11.1% 11,0% 2011 997,766 2.5% 7,368,030 1.5% 9.5% 10.0% 2012 1,021,527 2.4% 7,538,166 2.3% 8.3% 85% 2013 1,047,986 2.6% 7,741,539 2.7% 7.6% 7.3% 2014• 1,046,970 -0.1% 7,748,395 0,1% 6.8% 6.3% overall Change 2004.2014 39,513 3.9% 21,743 0,3% Avg Unemp. Rate 2004-2014 6.S% 6.9% Unemployment Rate - February 2015 5.4% 5.5% 'Total employment data is as ofSeptemper 2014 unemployment rate data reflects the average of 12 months of 2014. Source: Bureau of Labor Statistics and Economy.com. Employment figures are from the 4uarterlyCensus of Employment and Wages (OCEW). Unemployment rates are from the Current Population Survey(CPS). The figures are not seasonally adjusted, Employment Sectors The composition of the Miami-Dade County job market is depicted in the fallowing chart, along with that of Florida. Total employment for both areas is broken dawn by major employment sector, and the sectors are ranked from largest to smallest based on the percentage of Miami-Dade County jobs in each category. • Miami Riverfront Restaurant Site(s) irr. 136 r� Miami -Dade County Area Analysis THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Employment Sectors - 2014 0% 5% 10% 151Y0 20% 25% 30% Trade; Transportation; and Utilities i Education and Heath Services Professional and Business Services Government Leisure and Hospitality Financial Activities 0 the r s ervices Manufacturing Construction Inbrmapan M Miami -Dade County ■ Florida Source: Bureau of LahorStatisticsand Economy.com Miami -Dade County has greater concentrations than Florida in the following employment sectors: Q 1. Trade; Transportation; and Utilities, representing 25.7% of Miami -Dade County payroll employment compared to 20.7% for Florida as a whole. This sector includes jobs in retail trade, wholesale trade, trucking, warehousing, and electric, gas, and water utilities. 2. Education and Health Services, representing 15.6% of Miami -Dade County payroll employment compared to 14.9% for Florida as a whole. This sector includes employment in public and private schools, colleges, hospitals, and social service agencies. 3. Financial Activities, representing 6.9% of Miami -Dade County payroll employment compared to 6.7% for Florida as a whole. Banking, insurance, and investment firms are included in this sector, as are real estate owners, managers, and brokers. 4. Other Services, representing 3.6% of Miami -Dade County payroll employment compared to 3.2% for Florida as a whole. This sector includes establishments that do not fall within other defined categories, such as private households, churches, and laundry and dry cleaning establishments. Miami -Dade County is underrepresented in the following sectors: 1. Professional and Business Services, representing 13.5% of Miami -Dade County payroll Miami Riverfront Restaurant Site(s) 10 137 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Miami -Dade County Area Analysis SEEN AT THE END OF THIS DOCUMENT, 9 employment compared to 15.1% for Florida as a whole, This sector includes legal, accounting, and engineering firms, as well as management of holding companies. 2. Government, representing 12.9% of Miami -Dade County payroll employment compared to 13.4% for Florida as a whole. This sector includes employment in local, state, and federal government agencies. I Leisure and Hospitality, representing 12.2% of Miami -Dade County payroll employment compared to 13.8% for Florida as a whole. This sector includes employment in hotels, restaurants, recreation facilities, and arts and cultural institutions. 4. Manufacturing, representing 3.6% of Miami -Dade County payroll employment compared to 4.3% for Florida as a whole. This sector includes all establishments engaged in the manufacturing of durable and nondurable goods. Major Employers Major employers in Miami -Dade County are shown in the following table. Major Employers - Miami -Dade County Name Number of Employees 1 Miami -Dade County Public Schools 48,571 2 Miami -Dade County 29,000 3 Federal Government 19,500 4 Florida State Government 17,100 5 University of Miami 16,006 6 Ba pti st Hea I th South Florida 13,376 7 Jackson Health System 12,571 8 Publix Super Markets 10,800 9 American Ajriines 9,000 10 Florida International University 8,000 Source: Enterprise Florido Gross domestic Product Gross Domestic Product (GDP) is a measure of economic activity based on the total value of goods and services produced in a defined geographic area. Although GDP figures are not available at the county level, data reported for the Miami MSA is considered meaningful when compared to the nation overall, as Miami -Dade County is part of the MSA and subject to its influence. Economic growth, as measured by annual changes in GDP, has been considerably lower in the Miami MSA than the United States overall during the past eight years. The Miami MSA has declined at a 0.8% average annual rate while the United States has grown at a 0.9% rate. As the national economy improves, the Miami MSA has recently performed better than the United States. GDP for the Miami MSA rose by 2.4% in 2013 while the United States GDP rose by 1.8%. The Miami MSA has a per capita GDP of $45,145, which is 8% less than the United States GDP of $49,115. This means that Miami MSA industries and employers are adding relatively less value to the economy than their counterparts in the United States overall. Miami River -front Restaurant Site(s) • The following chart shows the distribution of households across twelve income levels. Miami -Dade County has a greater concentration of households in the lower income levels than Florida. Specifically, 43% of Miami -Dade County households are below the $35,000 level in household income as compared to 39% of Florida households. A lesser concentration of households is apparent in the middle income levels, as 30% of Miami -Dade County households are between the $35,000 - $75,009 levels in household income versus 33% of Florida households. Miami Riverfront Restaurant Site(s) 01" 139 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN E3E Miami -Dade County Area Analysis SEEN AT THE END OF THIS DOCUMENT. 10 Gross Domestic Product ($ Mil) ($ Mil) Year Miami MSA %Change United States %Change 2006 277,591 14,612,582 2007 278,527 0.3% 14,824,616 1.5% 2008 269,478 -3.2% 14,728,947 -0.6% 2009 247,947 -8.0% 14.328,006 -2.7% 2010 247,743 -0.1% 14,639,748 2.2% 2011 249,165 0.6% 14,868,836 1.6% 2012 256,900 3.1% 15,245,906 2.5% 2013 263,115 2.4% 15.526,715 1.8% Compound % Chg (2006-2013) -0.8% 0.9% GDP Per Capita 2013 $45,145 $49,115 Source: Bureau of Economic Analysis and Economy.com; data released September2014. The release ofstate and local GDP data has a longer laytime than national data. The data represents inflation-adjusted "real" GDP stated in 2009 dollars. Household Income Miami -Dade County has a lower level of household income than Florida. Median household income for Miami -Dade County is $42,148, which is 8.7% less than the corresponding figure for Florida. Median Household Income - 2025 Median Miami -Dade County $42,148 Florida $46,183 Comparison of Miami -Dade County to Florida -8.7% Source:Claritas The following chart shows the distribution of households across twelve income levels. Miami -Dade County has a greater concentration of households in the lower income levels than Florida. Specifically, 43% of Miami -Dade County households are below the $35,000 level in household income as compared to 39% of Florida households. A lesser concentration of households is apparent in the middle income levels, as 30% of Miami -Dade County households are between the $35,000 - $75,009 levels in household income versus 33% of Florida households. Miami Riverfront Restaurant Site(s) 01" 139 • TH15 DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE Miami -Dade County Area Analysis SEEN AT THE END OF THIS DOCUMENT. Household Income Distribution - 2015 $500,000 and more $2.50,000 - 499,999 $200,000 - $249,999 $150,000 - $199,999 $125;000 - $149,999 $100,000 - $124,999 $75,000 - $99,999 $50,000 - $74,999 $35,000 - $49,999 $25,000 - $34,999 $15,000 - $24,999 Less than $15,000 0.0% Sou rce: q a vitas 5.0% 10.0% 15.0% 20.0% ■ "an -Nde County Fgrda 11 Education and Age Residents of Miami -Dade County have a slightly higher level of educational attainment than those of Florida. An estimated 27% of Miami -Dade County residents are college graduates with four-year degrees, versus 26% of Florida residents, People in Miami -Dade County are younger than their Florida counterparts. The median age for Miami -Dade County is 39 years, while the median age for Florida is 42 years. Eduction & Age - =5 W% 43% 309E 2D% M% Ls nni-0adr co rty Percent Cal lee Graduate Source:Claritas Miami Riverfront Restaurant Site(s) s4 45 40 35 30 25 20 1s 10 Median Age Mami-Dade Courty Flurida • Miami -Dade County Area Analysis Conclusion THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Miami -Dade County represents an economy which is largely driven by tourism, education, and healthcare services. The recessionary effects of 2008-2009 significantly impaired the local economy, including the substantial housing and construction sector. 12 The resurgence of the condominium and multi -family development pipeline which commenced in earnest by 2012 has significantly revived the Miami -Dade economic climate, and the past three years, Miami -Dade and downtown Miami in particular have experienced significant economic recovery. National and regional improvements in the economy during this 2012-2015 timeframe have reinvigorated the tourism, education sectors; and healthcare sectors. Overall, Miami -Dade County is experiencing healthy growth, renewed positive employment in most sectors, and renewed investment and development interest. The improvements in the fundamental economy, coupled with an influx of tourism and related foreign investment capital, is strengthening demand for real estate in the broader market. Miami Riverfront Restaurant Site(s) THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Surrounding Area Analysis SEEN AT THE END OF THIS DOCUMENT. 13 0 Surrounding Area Analysis • Boundaries The subject is located in the Miami River corridor of Miami. This area is generally delineated as follows: North Approximately one block north of the Miami River South Approximately one block south of the Miami River East South Miami Avenue West Northwest 27`h Avenue A map identifying the location of the property follows this section. Access and Linkages Primary access to the area is provided by Interstate 95, a major arterial that crosses the South Florida area in a north -south direction. Access to the subject from interstate 95 is provided by Northwest 3`d Avenue and travel time from the major arterial to the subject is about 5 minutes. Overall, vehicular access is good. Traffic reports available from FDOT indicate that 6,400 vehicles travel past the subject each day on Northwest North River Drive; however, the subject is visible from interstate 95, which serves approximately 162,500 vehicles per day. Public transportation is provided by Miami -Dade Transit and the city of Miami and provides access to locations throughout Miami -Dade County. The nearest train station is located at Government Center, three blocks northeast of the subject. The local market perceives public transportation as good compared to other areas in the region. The primary modes of transportation in this area are diverse owing to its location at the edge of the Miami C8D. The subject is easily accessible by automobile, train, bus, and free trolley and is within walking distance of downtown Miami. The Miami International Airport is located about 7 miles from the property; travel time is about 12 minutes, depending on traffic conditions. The Miami CBD, the economic and cultural center of the region, is less than one mile from the property. Demand Generators Retail demand generators include a significant employment base, a densely populated trade area with diverse household income levels, a growing concentration of restaurant and other retail uses, and billions of dollars of investment in the greater downtown Miami area and Miami Health District that include the projects below: Miami Riverfront Restaurant Site{s} L. J • �1 IL J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Surrounding Area Analysis SEEN AT THE END OF THIS DOCUMENT. 14 G realer Downtown Miami - Multi -Block Develo ent Ptq.ds ttallMlt Annouri ed2023vriFa,&, OAA Oistricr Status bond Arev Aesiderttooforsek Re%W"(blFw Renr i4vn-Reskdmtial Resorts Wudd Miami A&E Planned Arc Sed TBD TBD,hotel epmpan. rt expected Bncke 19 City Centre Brickell Phase I topped out 75it1Gti 773• 89 East betel, shopping mall, offices Miam+Ce coral Station C8D Eads construction 294 '-Epi F SW Retail, office, hotel paraisu Bay Edgewater Phases 1 and II under mnshuctron Read EW boom 1,344 Limited retail Miami world Center CBD lin-cen itruction f 3021pha5e q 429 (phase I only) Taubman regional mall Desi OisMct 8e Ici meat Outside DDA Phase I and 11— fete ■ 76 planned In hale III %bl Ilion. in retail (phase I and 11 Annuvn.edslnpe 2023 lleld—ab- a Mak 5 Total 1,151 1.318 Mana Flagler CBD Acquisitions and leasi ng, n progress- 5— unknown Unknown 530.006 SF retail Fele MickelI Brickeli Planned 406 Son Man. Wynwvod Wynwood Speeial Area plan to he submitted. 304 acres Commercial expected Miami Ri"Malk Brickeli Planned 1.449 Office and retail Dne Bricked Brlckell Planned 9W SOD East End Wynwvod Wynwvod Planned TBD 23,506. retail Thor Wynwood Wynwaod Planned 264 Up 1e 1.4 million SF ann tied Mi ami. I nnayatlon District A&E Planned 2.4 million SF I LOW*) Office and street retail Goldman Wynwood Wynwood planned Scattered sites 72 3LODO SF retail, 70,061) SF office. 68 hotel roorrii 2110 M Miami Ave Wynw(.od Planned 163 79 hotel rooms, 12,407 SF recall Bricke II heights and SLS Lux Brlckell Phases I and q under eonstructl on 912 30.030. SF retail Thor Design District Outside DDA Planned 1.27 acres Retail Ri—Lancling Outside DDA Planned 6.14 acres 475 2 mdhon SF retail Total )sine 20131 6.455 1,574 Grand Totes 7,606 1292 %srnce 2613 BS% 60% The Brickellf Miami CBD (Downtown) and Coral Gables Office markets represent roughly one third of all of the office space within Miami -Dade County. All of these submarkets have above average lease rates and below average vacancy rates, making them among the strongest and most stable submarkets in the state. These submarkets have a high concentration of financial institutions, banks, and international companies. Additionally, the Midtown/Wynwood/Design District area has become a major draw for artists, entrepreneurs and are a hub for the December art fair season, when two of the six largest art fairs in the world occur simultaneously in Miami Beach and Midtown. Exhibit 1: Top 10 Most Attended Art Fairs.. 2013-14 Season ' ttallMlt AW IM �arvu nm slfl2ml9molllt�- I ARMMA*d sR4aoo 2N FE14A 2 Arc Sed 9211110 215 r JC)4 c my I Are 5a:t Miwrtl I10Wh 75it1Gti 2%mcw e—P 4 19" l 74=0 294 '-Epi F 1 PAC 7" UK Read EW boom 5 Art g+Ywtii 7VIE 255 Art 9rrriii LLC f mum 152 rre51e ■ Fie Amory 9}ow 6sm - 222 lleld—ab- a Mak 5 Arg Still Mwq 11orq 631CG0 IN M04 00.1p 15 Puts Ph aft Rad Eat tlr.n Jackson Memorial Hospital is located just north of the Miami River. It is an non-profit hospital with associations with the University of Miami School of Medicine. The hospital has of 1,500 beds and employs over 12,000 people directly. As was previously mentioned, this is a primary teaching Miami Riverfront Restaurant Site(s) c: Surrounding Area Analysis THIS DOCUMENT IS A SUBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. hospital for the University of Miami's Leonard M. Miller School of Medicine which means that there are additional doctors and medical professionals that are tied to the institution beyond the full-time employees. The hospital campus includes the Miami VA Medical Center, the University of Miami Hospital, the Miami Project to Cure Paralysis, the UM/Sylvester Comprehensive Cancer Center, the Bascom Palmer Eye Institute, the Diabetes Research Foundation, and the National Parkinson Foundation. it is the third-largest public hospital in the United States. The Miami International Airport employs over 36,000 people and contributes over 282,724 jobs directly and indirectly through its operations. The airport is a hub for American airlines as well as UPS Airlines and FedEx Express. The economic impact of the MIA and its supporting airports is $33.7 billion dollars on an annual basis, making it one of the primary demand drivers for Miami -Dade County and specifically the subject area. In 2014, the airport saw 40,941,879 passengers and has seen consistent growth in the number of passengers since 2009. Employment Base 15 Major employment centers that generate demand for the residential communities surrounding the subject include the Miami Health District, the Miami CBD, and the Brickell financial district. In 2015 to date, companies including Silicon Valley giants Twitter and Uber have signed leases in the immediate vicinity. Demographics A demographic profile of the surrounding area, including population, households, and income data, is presented in the following table.. Miami Riverfront Restaurant Site(s) J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Surrounding Area Analysis SEEN AT THE END OF THIS DOCUMENT. Surrounding Area demographics Miami -Dade 2015 Estimates 1 -Mile Radius 3 -Mile Radius 5 -Mile Radius County, FL Florida Population 2010 58,577 224,616 451,876 2,496,435 18,801,310 Population 2015 67,295 245,339 484,510 2,666,776 19,897,507 Population 2020 74,033 264,003 516,530 2,842,074 21,068,301 Compound%Change 2010-2015 2.8% 1.8% 1.4% 1.3% 1.1% Compound %Change 2015-2020 1.9% 1.5% 1.3% 1.3% 1.2% Households 2010 27,427 93,270 187,380 867,352 7,420,802 Households 2015 31,929 103,428 203,458 928,604 7,839,517 Households 2020 35,360 112,260 218.469 992.627 8,301,896 Compound %Change 2010-2015 3.1% 2.1% 1.7% 1.4% 1.1% Compound %Change 2015-2020 2.1% 1.7% 1.4% 1.3% 1-2% Median Household Income 2015 $31,519 $30,330 $31,811 $42,148 $46,183 Average Household Size 2.0 2.3 2.3 2.8 2.5 College Graduate% 39% 28% 28% 27% 26% Median Age 36 39 40 39 42 Owner Occupied % 17% 27% 33% 55% 67% Renter Occupied % 83% 73% 67% 45% 33% Median Owner Occupied Mousing Value $248,212 $264,104 $262,642 $229,386 $172,045 Median Year Structure Built 2000 1975 1970 1978 1986 Avg. Travel Time to Work in Min. 27 29 28 32 29 5Dur€e ' C1 vitas 16 As shown above, the current population within a 3 -mile radius of the subject is 245,339, and the average household size is 2.3. Population in the area has grown since the 2010 census, and this trend is projected to continue over the next five years. Compared to Miami -Dade County overall, the population within a 3 -mile radius is projected to grow at a faster rate. Median household income is $30,330, which is lower than the household income for Miami -Dade County. Residents within a 3 -mile radius have a similar level of educational attainment to those of Miami -Dade County, while median owner occupied home values are considerably higher. Retail and Public Services The area immediately around the subject is currently transitioning from a marine industrial area to an entertainment retail and restaurant district. Since 2013, new restaurants including Seaspice and Crust have opened around and along the Miami River. Land Use In the immediate vicinity of the subject, land uses include a mix of restaurant, industrial, and residential, although much of it is occupied by an interstate highway interchange. Other land use characteristics are summarized in the following table. Miami Riverfront Restaurant Site(s) irr 145 • �J Surrounding Area Analysis Surrounding Area Land Uses THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Character of Area Urban Predominant Age of Improvements Various Predominant Quality and Condition Average Approximate Percent Developed 60% Infrastructure/Planning Average Predominant Location of Undeveloped Land Infill and waterfront redevelopment Prevailing Direction of Growth East of 1-95 and along the river Subject's Immediate Surroundings North Flagler on the River (Apartments and planned retail) South Waterfront industrial East Interstate 95 West Miami River and East Little Havana 17 Development Activity and 'trends During the last five years, development has been predominantly of residential and retail uses, and has included Flagler on the River, SeaSpice, and the under -construction MiamiCentral Station. Apart from the major expansion of retail in the downtown area, the majority of development is comprised of upscale residential condominiums and apartments. A summary of these projects is excerpted from IRR Miami's report prepared for the Miami Downtown Development Authority (DDA) Q2-2015 report on the following pages. Miami Riverfront Restaurant Site(s) 10 146 • • lb THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Surrounding Area Analysis SEEN AT THE END OF THIS DOCUMENT. 18 Figure 2 Creater Downtown Miami Condo Market Size - Q2 2015 Sub. mks t Tod Potential Current Market Current Tina Growth Pipeline Site Granth A dt E 2,782 4,052 596 Brickell 9,050 20,791 4,662 CBD 7,875 6,288 975 Edgewater 4,144 4,148 3,041 Midtown 595 978 400 Wynwood 404 100 11 TORAL 240860 3$,3'67 9.686 Current Growth is all Under Construction, Contracts and Reservations " Lang-Tarm Gr€ wth is the Remaining Conceptual units, rW of current growth is % Poterrtiel Lang % Growth Growth Tina Growth Longterm 15% 2,186 5411/a 22°% 4.757 230/6 160//0 6,900 110°% 73% 1,433 35% 41% 195 20°.6 11% 393 393°, 27% 16,8$4 44% Figure 1 Current Greater Downtown Miami Cando, pipeline - Q2 2015 ^ 1' Submerkat Complete Under Conitruetion Contracts Reaerw Limns Proposed Totals A & E 0 83 0 513 2,186 2,782 Bricks]] 1,317 3.614 549 130 4,757 10,367 CBD 0 352 153 470 6,900 7,875 Edgewater 96 1,590 1,121 0 1,433 4,240 Midtown 0 0 400 0 195 595 V1iVmvmd 0 11 0 0 393 404 TOTAL 1,413 SAW 2223 1.113 16,884 26,263 Figure fi Average Conder Leasing Price - Greater Downtown Miami 19 9Yrdio 1 BR 2 BR 3 BR WW (/oral• $Knit S/SF $/Unit $/SF Slunit S/SF S/Unit $/SF 2012 $2.255 $1,421 $2.64 $1,804 $2.33 $2,625 $2.13 $.4.340 $225 2013 $2,371 $1,504 $2,67 `^ $1,926 $2.30 $2,819 $2.21 $4,427 $2.51 1/6 Changs 5% 6°% 1% 7% -196 7°% 4% 296 12% 2014 $2,481 $1,632 $2.92 $2,008 $2.49 $2,90® $2.32 $4,346 $260 % Change 5°% 80,s 9% 4% 8016 396 596 -2% 4e% 2015 YTD $2,542 $1,677 $3.07 $2,110 $2.65 $2,938 $2.41 '$4,544 $2.70 %Change 2% 30A 5% 50% 7% 1°6 4% 5% 4°% Miami Riverfront Restaurant Site(s) THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Surrounding Area Analysis SEEN AT THE END OF THIS DOCUMENT, isIn comparison to other areas in the region, the area is rated as follows: • Surrounding Area Attribute Ratings 20 Highway Access Above Average Demand Generators Average Convenience to Supporting Land Uses Above Average Employment Stability Above Average Demographic Trends Above Average Property Compatibility Average General Appearance of Properties Below Average Appeal to Market Above Average Price/Value Trend Above Average Miami Riverfront Restaurant Site(s) 10 149 • • 4iirrrvinrlinn ❑rPa ©naliicie Surrounding Area Map Rlm Landing Y m iglar Terrace 4 — - SW 5th THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE EN[) nF TWK nnri IhAc r _ Crust Pizza NW StNN se. 5th St NW 5tf�tl - y Nw ;s3a� m L NW 2nd St [Apartm Miami Riverfront Restaurant Site(s) 21 RGit)son 'ra''._ t - Rank ci 12th Z L_J ro IL 1_.-- ---SW 4t Miami Rhee► W � tL [ �. I 10 150 • • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Retail Market Analysis SEEN AT THE END OF THIS DOCUMENT. Retail Market Analysis Metro Area Overview 22 The following information was obtained from Costar, Southeast Florida's most followed commercially available information source for sales, leasing and market statistics. The subject would be classified as a general retail property within the Miami Retail submarket, In reality, the subject would be classified as "riverfront" retail because of its unique location. Miami -Dade County Retail Market The Miami -Dade County retail market did not experience much change in market conditions in the third quarter 2014. The vacancy rate for general and street retail was 3,1% in mid -2015, the lowest since 2.6% in 2007. Net absorption was positive 87,482 square feet, and vacant sublease space increased by 3,821 square feet. Quoted rental rates reached an all-time record of $38.40, up over $10 R5F from 2007. A total of 5 retail buildings with 41,190 square feet of retail space were delivered to the market in the quarter, with 509,254 square feet still under construction at the end of the quarter. General Retail Market Statistics 201529 7,736 58,815,980 1,794,378 1,810,043 3.1% B7,492 5 41,190 ?01519 7,733 53,784,670 1853,803 1,868,215 3.2% _ 299,679 10 325,097 291449 7,724 58,461,799 1829,854 1,843,023 3.2%_ 180,658_ a 114,867 20,439 7, 71a SB, 349.590 #098,508 1,411.677 3.3% $05,479 10 520;466 1914 29 7.772 57,886,828 1,942,716 1,954,185 3.4% 150,147 8 142,320 201419 7,705 $7,866,;01 2,073,9®6 i 2.084,055 3.6% mU6 145,.'32 .-W3 4q 7,698 57,739,669 2,165,774 2175,843_ 3.a% 191.311414 :51,561 201339. 7,689 57,573,193 4193,162 2,206,181 3.8%7{ 9,65Q} 2 63,70 20132q 7,681 57,514,473 2.05479:' 2,061811 3.6% :_ _ 68 61 5 86,1'^9 201339 7,677 57,432,128 2.037,008 1.027 3.6% 156 16 10 84,470 2612 7,669 57,353.319 2,114,63S 1.127 ' 3.7% 173,442 Al 509.953 .011 7.637 56,874,499 x,796,152 1,822706 3.2l� 524041 35 367,756 2010 2097 7,607 7,589 56.536,17: 55,544,337 0166.6v7 2,044,378 2.006,120 _ 3.6x 2.071,157 _� 3.7% 1,051,072 _ _ 1.139.289 ', 28 1.024630 1,348.307 2008 7,563 54.150.651 1,756.796 1,816,260 3.4% 347,946 44 83_4,482 1007 7,573 53,334,118 1,397,273 1. 3P7.673 _ 2_,A _ _ 1,617,843 Al 631,677 Net Absorption wd-r..1 was 24 838,266 53734 Z)- 88! --535.09 32 1 ,284 334.46 3i _�1 L308 133.40 32 1,16e,o72 � SJ4.71 3B 1.317.408 i +133.67 3B f 006.910 i- 27 Q 4!4,159 � .64 27 282,5t0 31 � 859,585 524.23 20 )51,755 SnJi 18 1,007,713 523.4_6 21 1„264.330 S17,SB General retail net absorption was slightly positive in Miami -Dade County second quarter 2415, with positive 87,482 square feet absorbed in the quarter. In the prior two quarters, general retail net absorption was 299,679 and 180,654 square feet, reflecting a modest slowdown in appreciation. However, this quarter also saw a slowdown in deliveries that closely paralleled the slowdown in absorption, implying that most new space is absorbed almost immediately at Completion. Miami Riverf rant Restaurant 5ite(s) TEAS [DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Retail Market Analysis SEEN ATTHE END OF THIS DOCUMENT, 24 597,322 square feet were completed in Q1 2015, 13 buildings with 252,672 square feet were completed in Q4 2014, and 15 buildings with 568,599 square feet were completed in Q3 2014, General Retail Properties The General Retail sector of the market, which includes all freestanding retail buildings, except those contained within a center, reported a vacancy rate of 3.1% at the end of Q2 105. There was a total of 1,810,043 square feet vacant at that time. The General Retail sector in Miami -Dade County currently has average rental rates of $38.40 per square foot per year, There are 509,264 square feet of space under construction in this sector, with 41,190 square feet having been completed in the second quarter. In all, there are a total of 7,736 buildings with 58,815,980 square feet of General Retail space in Miami -Dade County. Miami River Overview The Miami riverfront from South Miami Avenue to northwest 17"' Avenue is seeing a resurgence in development across all product types, most notably restaurant but also including retail and residential uses. In the past four years, gourmet restaurants have opened along and immediately adjoining the waterfront. These include Crust Pizzeria, the newest venture of AAA Four Diamond Award-winning chef Klime Kovaceski, the Zagat-rated contemporary waterfront lounge Seaspice, and the new home of River Seafood and Oyster Bar, located in the new Flagler on the River apartment tower. A second phase of Flagler on the River will be a multilevel retail and restaurant complex anchored by SushiSamba and the Miami location of Duck & Waffle, a gourmet Landon restaurant that claims to be the "highest restaurant in the UK" with a months -long wait for reservations. in the nearby Miami Health District, a new retail 'building called Shops at Civica opened in 2015 that Includes popular chains Tike Jimmy John's and Smoothie King. Several further developments along the riverfront are likely to introduce even more retail and restaurant activity along with hundreds of residents. River Landing, planned for the former Mahi Shrine site just west of the Dolphin Expressway, will contain 475 luxury rental apartments as well as a 425,000 square -foot mall with national chains, a supermarket, and several restaurants. Further east, three large condominium/retail complexes are connecting downtown and Brickell to the river. The Chetrit Group, a New York developer, has proposed four towers containing 1,600 residential units, commercial space, and a riverwalk just east of Interstate 95. Chetrit's ,project adjoins Brickell City Centre, a $1 billion -plus mixed-use complex whose first phase will deliver two condominium towers, a luxury hotel, two small office buildings, and a retail mall opening in 2015. Most recently, developer Kar Properties has filed for plans for a 60 -story twin tower condominium designed by famed Uruguayan architect Rafael Vinoly. Continuing development in Downtown, Brickell, and Little Havana such as Miami Worldcenter and the planned Beckham soccer stadium adjoining Marlins Park will continue generating demand for new riverfront developments. Retail Market Outlook and Conclusions Supply and demand trends in the region for the short term are expected to be positive. Rental rates are expected to increase. In comparison to the region overall, the Miami River submarket is rated as follows: Miami Riverfront Restaurant Site(s) 153 C LJ Retail Market Analysis Submarket Attribute Ratings THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. Market Size/Stature Below Average Market Demand/Rental Trends Above Average Vacancy Trend Average Comparison of Retail Expenditures to Macro Average Areas Level of Competition from Similar Retail Below Average Barriers to Entry Above Average Miami Riverfront Restaurant Site(s) 25 O 154 • • Retail Market Analysis THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT - Competitive Properties Map LJ >a NJ2ist d :ids-�°' `` h t �r t,- i —J� r SUBJECT PROPERTY IV�L _ El> j,_ Miami Ili kl7 gter Sf +,^i fi1twgi 5t �rd St j=- 3rd 441 7 JCi SW 6th '4tjf--" 1 nL-3 J�'J L-- =A 41h LO L-- SWMiami River ,V4+aIk L a , �_ =L =C1 � �- iZ� f . 477 Miami Riverfront Restaurant Site(s) 26 10 155 • L_J THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT. 27 Proposed Improvements Description and Analysis Overview The subject property is a proposed two-story, multi -building complex with 16,159 square foot restaurant complex located along the Miami River in Downtown Miami. It would be the southern of two parcels in the Riverside Wharf development and would contain (2) two-story buildings, encompassing two restaurants and a fish market. The subject property is outlined within the Riverside Wharf development as below, and the City -owned land is comprised of the two buildings to the right side of the rendering.. LANDSCAPE ba Occupancy Status The property will be demised into two buildings and three tenant spaces. The first building will be a freestanding, two-level restaurant containing 5,464 square feet of rentable area over two levels. The other building will include one two-story restaurant as well as a single -level fish market with a total area of 10,705 square feet. The property has not yet been constructed or pre -leased. Improvements Analysis Quality and Condition Upon their completion, the improvements wild be of excellent quality construction and in new condition. Miami Riverfront Restaurant Site(s) • • THIS DOCUMENT IS A SUBSTITUTION To ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END of THIS DOCUMENT. 28 The quality of the subject is considered to be superior to that of competing properties, and maintenance will be superior to that of competing properties. Overall, the market appeal of the subject is superior to that of competing properties, considering its two-level spaces, water views, and new construction. Functional Utility Based on our inspection and consideration of the foregoing, there do not appear to be any significant items of functional obsolescence, although the two-level configuration of the restaurants and the irregular shape of the demised spaces could limit their adaptability. Deferred Maintenance No deferred maintenance is apparent from our inspection, and none is identified based on the property's new condition. Planned Capital Expenditures No capital expenditures are apparent from our inspection, and none are identified based on the property's new condition. ADA Compliance Based on our inspection and information provided, we are not aware of any ADA issues. However, we are not expert in ADA matters, and further study by an appropriately qualified professional would be recommended to assess ADA compliance. Hazardous Substances An environmental assessment report was not provided for review and environmental issues are beyond our scope of expertise. No hazardous substances were observed during our inspection of the improvements; however, we are not qualified to detect such substances. Unless otherwise stated, we assume no hazardous conditions exist on or near the subject. Personal Property No personal property items were observed that would have any material contribution to market value. Conclusion of Improvements Analysts In comparison to other competitive properties in the region, the proposed improvements will be superior to surrounding area improvements, and above average to most surrounding competitive properties in the local neighborhood. Miami Riverfront Restaurant Site(s) r� THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT. 29 RENDERING 2 I usr tl'�l ba RENDERINGS 4m� ba Miami Riverfront Restaurant Site(s) 158 • -1 u THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL, BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT, 30 RENDERING 1 7�cverrc c l �� be ! I- 15 wFt�a ER sr ":ice -'� $ sw gnu ei 6 44 ib 4b s JOSE M40 sw �sr RIVERFRONT CONTINUITY Miami Riverfront Restaurant Site{s} wa�wu-e� sr sw•sr sr - — 19 159 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT, Floor Plans � f F r + K ROGR .,INSTNAAM ■S�k L`` ' rqN ygit.Y � YRS, 1LIYlLM.�� Miami Riverfront Restaurant Site(s) 31 W-- .►. 4 nh � f F r + K ROGR .,INSTNAAM ■S�k L`` ' rqN ygit.Y � YRS, 1LIYlLM.�� Miami Riverfront Restaurant Site(s) 31 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT. 32 0 Competitive Property Analysis There is currently a large amount of retail development along the Miami River area as well as in the CBD, Brickell, and Arts & Entertainment districts to the east. The table below shows some of the major developments along the Miami River that will contain substantial retail components: Miami Riverfront and CBD - Retail Development Projects Brickell City Centre East hotel, shopping mail, offices MiamiCentral Station Retail, office, hotel, express rail, and TriRail linkages. Miami World Center Taubman regional mall anchored by Macy's and Bloomingdales Mana Flagler 570,000 SF Retail One Brickell TBA Miami Riverwalk Office and retail Miami Innovation District Office and street retail Goldman Wynwood 31,000 SF retail, 70,000 SF office, 68 hotel rooms River Landine 2 million SF retail These projects contribute to the vibrancy of the downtown and riverfront retail market in Miami. The table below shows general statistics on the Downtown Miami area as well as the Miami Riverfront and Health District submarkets: Ll/C and Existing Area Proposed Area Average Existing Properties > U/C and Proposed (SF) (51F) Asking Rents 140,000 SF Properties >100,000 SF Brickell City Centre Brickell 843,894 334,245 $8171 Mary Brickell Village (505,000 SF) (277,983 SF) Miami River walk (176,350 5F) Macy's (487,000 SF) Miami ter Bayside (792,421 SF) (750,000 SF) 750,0 0 SF) CBD 2,373,985 969,050 $23.54 Galeria Internacional Met Square (113,508 SF) (162,435 SF) MiamiCentral Station (TBA Seybold Building SF mixed-use) (150,000 5F) A&E 1,142,942 0 $25.44 Omni (600,000 SF) None Miami River/Health 1,396,069 505,447 $18.71 None River Landing (430,000) District Total 5,756,890 1,808,737 Source: Costar Analytics and Miomi-Dade Property Appraiser, compiled by Integra Realty Resources �J Currently, there are two restaurant spaces (one for lease at undisclosed rates, the other if a fully built - out restaurant offered for sale through Sperry Van Ness with an asking price of $450/SF). Additionally, Miami Riverfront Restaurant Site(s) 0 161 THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT. 33 we researched for -lease offerings and leases to understand the general rent levels for existing restaurants. Summary of Comparable Rentals - Retail Miami -Dade County Parking Ratio: - FL Comments: This vocont resrurant spore is located on the northwest corner of 18th Street and Bay Rood. The improvements were constructed in 1968 and consists of 4,443 Sf on the ground floor, 2858 SF on the second floor, and 1,573 SF on the second floor rooftop terrace. The asking rent far the spare is $33.81/SF/yr NNN. 4 East Coast Building Yr Bit- - N/A - Current Listing 12,000 Jun -16 - 525.00 Fixed Modified Gross Lease Term No. Rroperty Propertyinformation Description Tenant SF start (Mos.) Rent/SF Escalations Lease Type 1 Mint Condo Development Yr Olt. 2009 N/A - Current Listing 1,798 Aug -15 - $28.00 Fixed Triple Net 92 SW. 3rd St. Stones: 56 Miami GLA: 1 Miami -Dade County Parking Ratio: - FL Miami GLA: 1 Comments: This is a ground -floor retail listing or the Mint, a riverfront condominium in Downtown Miami. Additionof spore is for lease adjoining the listing of the some price ($2BIsf(yr). FL 2 Fmr. foe Allen's Yr BIS. 1940 Speculative 4,0D0 Jun -IS - $60.00 Fixed Triple Net 1787 Purdy Ave. Stories: 2 Miami Beach GLA: 3,933 Miami -Dade County Parking Ratio: - FL Miami -Dade County Parking Ratio: - Comments. This is the listing of a 4,000 square foot restaurant space that is located in Miami Beach, Florida. The initial asking rote is $60,00 per square foot triple net with negotiable terms. This ,property is currently vacant. The recorded owner is Purdy Partners 1787 LLC. and the Landlord Representative is Melissa Dunn with SRC Properties, LLC. Comments: This is a 12 -year lease for a commercial unit that will he a high-end Mexican restouran t. The 1st year's rent is abated with Year 2 being $339,-00, Year 3 Bay Road Restaurant Yr Blt. 1968 Undisclosed 8,874 Jul -13 36 $33,81 Fixed Triple Net 1800 Bay Rd. Stories: 2 Miami Beach GLA: 7,307 Miami -Dade County Parking Ratio: - FL Comments: This vocont resrurant spore is located on the northwest corner of 18th Street and Bay Rood. The improvements were constructed in 1968 and consists of 4,443 Sf on the ground floor, 2858 SF on the second floor, and 1,573 SF on the second floor rooftop terrace. The asking rent far the spare is $33.81/SF/yr NNN. 4 East Coast Building Yr Bit- - N/A - Current Listing 12,000 Jun -16 - 525.00 Fixed Modified Gross 139 5W. North River Dr. Stories: - Miami GIA: 12,000 Miami -Dade County Parking Ratio: - FL Comments: This is a current pre -leasing listing for o top ;floor restaurant spare with views of the Miami River across SW North River Drive. There is also a 1,500 square fact street -level spare that is being marketed either as recoil or as office. leasing broker is Berkshire Hathaway HameSenrces Florida Realty - 5 Flagler on the River Yr Bit.: 2014 N/A - Current Listing 7,800 Aug -15 - $50.00 Fixed Gross 340 W_ Flagler St. Stories- 32 Miami GLA: 1 Miami -Dade Ca unty Parking Ratio: - FL Comments: Asking rent of 550 PSF gross confirmed with Carolyn at Fortune International Realty as a grass lease. To date, none of the ground -floor spaces that Fortune are leasing have been leased, although one (non -Fortune) space is currently leased to River Oyster Bar. This space is ground flour retail in a high-rise apartment tower on the western edge of downtown Miami. The developer, Melo Group is also planning a second phase across NW South River Drive that wili include aurposrs of restaurants SushiSamba and Duck & waffle. _ 6 495 BrlckeII Yr Sit. 2009 Mexican Gastronomy 11,958 Mar -12 144 $28.35 Fixed Triple Net 495 Brickell Ave. Stones: - Miami GLA: 11,956 Miami -Dade County Parking Ratio: - FL Comments: This is a 12 -year lease for a commercial unit that will he a high-end Mexican restouran t. The 1st year's rent is abated with Year 2 being $339,-00, Year 3 being $35,000 and a minimum of 3% annual increases thereafter. rhe lease includes two f1) five-year renewals at minimum of 34d onnual increases with actual increases tied to CPI. 7 Cipriani Downtown Yr Bit. 2009 Cipriani Mlami 10,786 Feb -12 241 $27.61 Fixed Triple Net 465 Brickell Ave. Stories: 3 Mlaml GLA: 22,744 Miaml-'Dade County Parking Ratio: 1.1 /1.000 FL Comments: This is the lease of a commercial rondo to Cipriani for a restaurant use. The condo was a vacant shell with the lessee investing approximately $5,000,000 in the restaurant build -out, FF&E and opening. LJ Miami Riverfront Restaurant Site(s) 10 162 THIS DOCUMENT IS A 5UB5TITUTION To ORIGINAL. BACKUP ORIGINAL CAN RE Proposed Improvements [Description and Analysis SEEN AT THE END OF THIS DOCUMENT. Market Rent Conclusions Based on the preceding analysis of comparable rentals, market rent is estimated for the subject as shown in the following table. Rental Analysis Summary - Retail Overall Compariso Property Name, in to No. Tenant Leased SF Rent/SF Subject Comments 1 Mint Condo Development 1,798 $28.00 Inferior This is ground -floor retail spate N/A - Current Listing in an existing condominium along the Miami River. It does not have the same visibility as the subject but is in a superior building. 2 Fmr. Joe Allen's Restaurant 4,000 $60.00 Speculative 3 Bay Road Restaurant 8,874 $33.81 Undisclosed 4 East Coast Building 12,000 $25.00 Similar This is a rooftop retail space N/A - Current Listing along NW South River Drive. Although it is not directly on the waterfront, its high floor and 5 Flagler on the River 7,800 $50.00 Superior This is street retail with N/A - Current Listing comparable visibility in a brand- new building. Although it is not waterfront, it is located in a residential tower and has co- tenancy with Duck & waffle, River Oyster Bar, and Sushi Samba. Is 6 495 Brickell 11,958 $28.35 Similar This is a restaurant space located Mexican Gastronomy directly on Brickell Avenue. It International, LLC enjoys superior visibility and a prestigious address. 7 Cipriani Downtown Miami 10,786 $27.$1 Superior This is a restaurant space located Cipriani Miami Restaurant, in Icon Brickell, a three -tower Miami Riverfront Restaurant Site(s) 34 10 163 • r7 c: THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE ENI] OF THIS DOCUMENT. 35 Concluded Market Lease Terms Space Type Market Rent Measure Lease Type Retail $30 - $50 / SF $/SF/Yr Triple Net IRR -Miami has estimated the current rental rates for the subject as if it were constructed to the general finishes and quality described herein and expected in the submarket. Our interviews with retail leasing brokers indicate that most restaurant leases include a base rent provision, tenant pays all expenses, and then the restaurant reports sales and pays a percentage rent over a natural breakpoint (with credit for rent already prepaid). Within the market, this percentage "kicker" is scaled based on the starting rent. If starting rents are lower ($25-$35 per SF), then the kicker is higher, generally equivalent to 8% of sales. If the base minimum rent is higher, then the kicker tends to be lower (as low as 4%, but generally 6% of gross sales revenue). The position of the percentage rent is to insure that the restaurant ownerjtenant can survive seasonality and thrive during non -peak months, but allows the landlord to participate in the upside. At the same time, if the landlord is taking a higher level base rent (relative to the market area), then the kicker (percentage rent) is negotiated lower in the market. The City of Miami RFP specifically excludes consideration for natural or artificial breakpoints, but this is contrary to market leasine conventions. IRR Miami will address this issue within the feasibility analysis. Miami Riverfront Restaurant Site(s) THIS DOCUMENT 15 A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN ATTHE END OF THIS DOCUMENT. 36 0 Land Lease Considerations In accordance with the analysis above, we have analyzed the feasibility of constructed the subject buildings based on our understanding of development costs locally and regionally, and considering the waterfront location and off-site requirements requested under the RFP. We have analyzed a pro -forma of the property assuming the property were developed, and then leased to a third -party restauranteur. From a real estate investment perspective, what could the land developer (who would be paying on the land lease) reasonably expect to pay for the land lease recognizing a reasonable investment return. Financial Feasibility Income At $30/SF At $50/SF Base Rent $485,070 $808,450 Vacancy & Collection Loss @ 8.0% -$38,806 -$64,676 Total Revenue $446,264 $743,774 Expenses Management $22,313 $37,189 Reserves $2,231 $3,719 Total Expenses $24,545 $40,908 Net Operating Income $421,720 $702,866 Cap Rate 7.5% _ 7.5% Project Value $5,622,931 $9,371,552 Developer Budgeted Hard Costs -$4,458,995 -$4,458,995 Demo/Soft Contingency -$2,534,991 -$2,534,991 Land Residual ($1,371,055) $2,377,566 Land Cap Rate 0.05 0.05 Concluded Land Rent -$68,552.73 $118,878.32 Minimum Rent Specified by RFP ("Rent Requirements" requires a $195,504 Minimum Base Rent. This analysis demonstrates that Minimum Base Rent is not feasible at a $30/SF rental rate (c$500 ver SF in sales) Development costs provided by developer exclude land costs and "Construction Phase Land Lease" which renders feasibility even more limited We sensitivity tested the subject development at a $30/SF and $50/SF NNN lease to a third party. We then deducted vacancy and collection and landlord expenses to arrive at a net operating income. We then capitalized these amounts to reflect the fee simple value of the building and land, and then deducted the proposed construction costs to reflect the residual "value" of the land under the development plan. Miami Riverfront Restaurant Site(s) Is 165 • • • THIS DOCUMENT IS A SUBSTITUTI0N TO ORIGINAL. BACKUP ORIGINAL CAN BE Proposed Improvements Description and Analysis SEEN AT THE END OF THIS DOCUMENT. 37 We then convert the land value back into a land rent payment using a capitalization rate (lower than the building capitalization rate because the overall rate considers recapture of building improvements, where the land capitalization rate does not require future capital input). This sensitivity analysis details that to achieve the City of Miami's minimum lease payment, the restaurant would need to command greater than $SD/SF in NNN building rent, which means the owner -operator would need to be guaranteed a minimum of $700 - $800 in gross sales at the 6%-8% of sales ratio. Miami Riverfront Restaurant Site(s) 10 166 THIS DOCUMENT IS A SUB5TITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Analysis of Restaurant Operations and Projections: SEEN AT THE END OF THIS DOCUMENT, 38 0 Feasibility Analysis • • Analysis of Restaurant Operations and Projections: IRR Miami has significant experience appraising restaurant properties, both as a going -concern and as real estate only. To determine operational projections, IRR Miami has surveyed market participants and identified (7) competitive Miami restaurant locations which reported sales figures; five of which maintained waterfront locations. 4 Coastal Florida Restaurant safe Data Sour:*- Caafiden ial Informal interviews with Kyle Stern (Konover Stern) and other active leasing brokers in the Miami area indicate that most full service locations with harVestaurant service experience significantly higher restaurant sales in Miami because of what's called "the fourth turn". The younger age of Miami residents, and the influence of the Latin market, tend to drive dining patrons to eat later, and to stay later. This allows Miami area restaurants to increase same -night sales over other areas of the country. Where typical national average restaurant sales are $400 - $600/SF, Miami consistently beats those ratios by 25%-40%. Based on our analysis if Miami restaurant sales as above, we forecast a likely gross sales estimate for the proposed project at $800 per square foot, The RFP requires a going -forward estimate of operations, and IRR Miami relies upon the industry standards of costs to develop a simplified pro -forma of restaurant operations. General ratios as a percentage of sales are reflected by IBIS World Reports as follows: Miami Riverfront Restaurant Site(s) Waterfront Event Space Sales Size (5q. Ft.) Sales Per Sq. Ft. Restaurant 1 Yes Yes $19.000,000 7.000 $2,714 Restaurant 2 Yes. Yes $14,000,000 16,500 $848 Restaurant 3 Yes Yes $2.000,000 5,127 $390 Restaurant yes No $3.160.000 5,273 $618 Restaurant 5 Yes No $2.850,000 2,639 $1,080 Restaurant 6 No No $3,600,000 6.700 $537 Restaurant 7 No No $3,600,000 8,640 $417 Sour:*- Caafiden ial Informal interviews with Kyle Stern (Konover Stern) and other active leasing brokers in the Miami area indicate that most full service locations with harVestaurant service experience significantly higher restaurant sales in Miami because of what's called "the fourth turn". The younger age of Miami residents, and the influence of the Latin market, tend to drive dining patrons to eat later, and to stay later. This allows Miami area restaurants to increase same -night sales over other areas of the country. Where typical national average restaurant sales are $400 - $600/SF, Miami consistently beats those ratios by 25%-40%. Based on our analysis if Miami restaurant sales as above, we forecast a likely gross sales estimate for the proposed project at $800 per square foot, The RFP requires a going -forward estimate of operations, and IRR Miami relies upon the industry standards of costs to develop a simplified pro -forma of restaurant operations. General ratios as a percentage of sales are reflected by IBIS World Reports as follows: Miami Riverfront Restaurant Site(s) • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Analysis of Restaurant Operations and Projections: SEEN AT THE END OF THIS DOCUMENT. 39 Sector v& Industry Gusts Average Costs of all Industries in Industry Casts sector (201 S) ( 2015) t 41 Miami Riverfront Restaurant Site(s) ■ Prafrt ■ Wages ■ PWdmes ■ Depreciation ■ Marketing ■ Rent & UtIlIties ■ Other soUQ wwwA19A( O'C0M ®rr WON] THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Analvsis of Restaurant Operations and Proiections: SEEN AT THE END OF THIS DOCUMENT. 40 Based on the total proposed size of the multi -building facility, we forecast revenues and expense as follows: Analysis of forecasted Restaurant Performance Size 16,169 Year 1" Year 2 Year 3 Year 4 Year 5 Gross Sales ($80O/SF) w 5% $ 12,935,200 $ 13,581,960 $ 14,261,058 $ 14,974,111 $ 15,722,816 annual growth Cost of Goods (40%) $ 5,174,080 $ 5,432,784 $ 5,704,423 $ 5,989,644 $ 6,289,127 Wages (35%) $ 4,527,320 $ 4,527,320 $ 4,527,320 $ 4,527,320 $ 4,527,320 Utiiities\Operations ($12/SF) $ 194,028 $ 199,849 $ 205,844 $ 712,020 $ 218,380 Building & Land Rent (6%) $ 776,112 $ 814,918 $ 855,663 $ 898,447 $ 943,369 TOTAL Expenses $ 10,671,540 $ 10,974,870 $ 11,293,251 5 11,627,431 $ 11,978,196 Profit $ 2,263,660 $ 2,607,090 $ 2,967,807 $ 3,346,680 $ 3,744,621 Profit as a % of Sales 18% 19% 21% 22% 24% Forecasted Stabilized Year Potenital Gross Revenue $ 776,112 $ 814,918 $ 855,663 $ 898,447 $ 943,369 (Rent) Received by Landlord Allocation of Land $ 155,222 $ 1620984 $ 171,133 $ 179,689 $ 188,674 Contribution (15%) Amount Available to Amortize $ 620,890 $ 651,934 $ 684,531 $ 718,757 $ 754,695 Construction Costs The typical threshold for "operational profit" as a percentage of sales is a minimum of 20%'. What this analysis demonstrates is that at rent above 6%, and sales below $800 per SF, it will take more than (3) years to reach an acceptable profit threshold to the restaurant operator. This may require concessions in the early years on the part of the landlord. The reflected rent above equates to $48/SF (Year 1); and which is within the range of our study of restaurant leases which demonstrate that rents start in the $30/SF range with percentage "averages" to insure that the ownerjrestauranteur can service the other needs of the business and make a reasonable profit to justify operation of a very labor and time intensive business. However, provided that the landlord can structure a 6% of sales lease structure, the project is still not feasible using the City's minimum rent calculation at $195,500 per year. We would also note that the proforma is sensitive to real estate tax costs as well, which comprise a portion of the operations costs. I The IBIS report concludes profit is 4% - 7%, but "Other" category generally includes owner salaries and perks, and Depreciation is a taxation issue, but does not affect cash profits; so total is 12% plus some proportion of wages. Miami Riverfront Restaurant Site(s) 10 169 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Analysis of Restaurant Operations and Projections: SEEN AT THE END OF THIS DOCUMENT. 41 Analysis of Forecasted Restaurant Performance - 8% Size 16,169 Year V Year 2 Year 3 Year 4 Year 5 Gross Sales ($800/SF) w 5% $ 12,935,200 $ 13,581,960 $ 14,261,058 $ 14,974,111 $ 15,722,816 annual growth Cost of Goods (40%) $ 5,174,084 $ 5,432,784 $ 5,704,423 $ 5,989,644 $ 6,289,127 Wages (35%) $ 4,527,320 $ 4,527,320 $ 4,527,320 $ 4,527,320 $ 4,527,320 Utilities\Operations ($12/5F) $ 194,028 $ 199,849 $ 205,844 $ 212,020 $ 218,380 Building & Land Rent (8%) $ 1,034,816 $ 1,086,557 $ 1,140,885 $ 1,197,929 $ 1,257,825 TOTAL Expenses $ 10,930,244 $ 11,246,510 $ 11,578,472 $ 11,926,913 $ 12,292,652 Profit $ 2,004,956 $ 2,335,450 $ 2,682,586 $ 3,047,198 $ 3,430,164 Profit as a % of Sales 16% 17% 19% 20% 22% Forecasted Stabilized Year Potenitai Gross Revenue $ 1,034,816 $ 1,086,557 $ 1,140,885 $ 1,197,929 $ 1,257,825 (Rent) Received by Landlord Allocation of Land $ 206,963 $ 217,311 $ 228,177 $ 239,586 $ 251,565 Contribution (15%) Amount Available to Amortize $ 827,853 $ 869,245 $ 912,708 $ 958,343 $ 1,006,260 Construction Costs IRR Miami has conducted a second scenario using an 8% of gross sales formula. At the projected $800/51F rent, the project is able to feasibly achieve the minimum rent in Year 1. CONCLUSION: The project is feasible at $800]5F in gross sales after Year 5 using a 6% natural breakpoint, but cannot meet the City of Miami's minimum rent threshold in Year 1. Mathematically, to meet the RFP requirement paying $195,500 in base rent Starting in Year 1, the landlord will be paying over 25% of gross revenues. If the landlord is successful in identifying tenants willing to pay 8% of gross sales revenue, the project is feasible in Year 1 at the City of Miami's minimum Base Rental Payment using the 15% of gross rental revenues, and then the City's revenues will grow going forward over the base minimum rent. The RFP requirement that the land rent is due upon signing and during the construction period is unusual. Land Rent is typically partially abated (at minimum 50%). This would mitigate start-up risks to the restaurant operators and the landlord prior to restaurantjoperator commencement of lease. RECOMMENDED RENT STRUCTURE: To meet the RFP requirements, the base minimum rent is set at $195,500 per annum upon land lease commencement. The RFP requires a direct percentage rent participation on the part of the City, and IRR Miami recommends that in consideration of the feasibility hurdles, the City's rent participation be structured at 15% of collected rent, with a minimum of $195,500 per annum, with a 1 -year reduced Miami Riverfront Restaurant Site(s) Off. 170 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Analysis of Restaurant Operations and Projections: SEEN AT THE END OF THIS DOCUMENT. 42 rental structure at 25%-50% of minimum base rent for 12-18 months during site and building development. The 15% of gross rental revenues would satisfy the RFP requirement for the City to participate in rental upside. In all likelihood, a successful restaurant operator(s) will achieve the $800/SF in sales breakpoint, with the potential to increase these revenues. This will result in increased rent revenue to the landlord, which will flow to the City in proportion to the contribution of the land to the overall project at 15% (once Minimum Rent Thresholds are satisfied), and at greater than 15% during the base minimum rent years in which the rent received by the landlord is less. The City of Miami is receiving the assurance of the base minimum rent (at a higher rent percentage), but as revenues grow, the City will benefit proportionally. Miami Riverfront Restaurant Site(s) • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Ratable and Employment Analysis SEEN AT THE END OF THIS DOCUMENT. 43 Ratable and Employment Analysis In addition to the rental payments as previously discussed, the development of a successful restaurant complex at the site will also benefit the City of Miami in terms of an increase in the ratable base. The real estate taxes are the responsibility of the tenant(s), and represent revenue above and beyond the rental payment stream. The Property Appraiser's (PA) office will generally assess new properties based on a combination of Cost and Sales methods. However, given the limited number of waterfront restaurant sales, the PA office will likely base the initial assessment on Cost. Using the Costs as provided by the developer at $7,000,000 total (Site and Hard Costs), and the capitalized value of a $195,500 annual land lease at 5%, reflecting an implied land value at $3.9 Million, the total value of the proposed project is reflected at $10.9 Million. The PA office will generally assess at 80% of true market value, indicating a probable assessment level at $8,750,000 +/-. At the current tax rate of 23.1555/$1,000, the estimated tax revenue equates to $202,620 per annum, Say $200,000 in additional tax revenue annually. CONCLU5ION: The proposed project could potentially add $200,000 annually in real estate tax revenue to City and County. Employment Base Expansion: The average size of a full-service restaurant staffing ranges from 25 employees per shift for a 5,000 (1 Full-time employee per 2005F). IBIS Industry averages per establishment in the US is 13 employees per establishment, but establishment sizes very widely, and this number tends to understate the employment gains. The number of full time employees will also vary with the operating hours and shifts; but IRR Miami's experience is that a proper ratio is 1 Full Time Employee (FTE) per 100 SF. Using 100 — 150 5F per employee, the subject project at 15,000+ SF will likely generate 100 — 160 jobs. These jobs will vary in income levels from hostess, server, and bartender jobs who work for minimal salary with a high percentage of tips with average total salaries in the $50,000 - $75,000 range (including tips), to cooks, managers and others who are true salaried employees at $55,000 - $125,000, and lower salaried employees (busboys, washers, etc.) with average salaries of $23,000 - $30,000. Our wages estimate at $4.5 Million against 100 — 150 jobs equates to an average salary per worker at $28,000 - $45,000 per average FTE net of tips/gratuity splits which are generally not calculated as part of wages. For a full service upscale restaurant, this is within the range expected. CONCLUSION: The proposed project will add 100 —160 full-time jobs at an average annual salary of $28,000 — 45,000. irr Miami Riverfront Restaurant Site(s) 172 LJ F- -I LJ THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE Addenda SEEN AT THE END OF THIS DOCUMENT. Addendum A Consultant Qualifications Miami Riverfront Restaurant Site(s) 0 173 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. AnthonyM. Graziano MAI CREIntegra Realty Miami/PaimBeach reel 1 � Miami/Pa4m beach Experience The Douglas Centre 2500 Douglas Road, Suite 861 Senior Managing Director of Integra Realty Resources — Miami/Palm Beach. Coral Gables, FL 33134 Mr. Graziano has actively counseled and advised clients on the sale, leasing, valuation, management, and development of commercial real estate assets throughout New Jersey and the northeast U.S. T 305.670.0001 305.670.2276since 1992. Mr. Graziano served as the Managing Director of IRR -Coastal NJ from 1999-2011. Mr. Graziano was retained in 2012 to serve as Senior Managing Director of IRR - Miami/Palm Beach. rrr.rom Mr. Graziano's unique professional perspective is a blend of his educational background which includes formal training in architecture, urban planning, macro and micro economics, real estate finance, institutional asset management, and land development. His market experience in sales, leasing, management, and valuation disciplines combine to bring practical real world answers to complex planning and development projects. He has been actively involved as a consultant and/or member of a consultant team on various major redevelopment and land use projects for public and private clients over the past 20+ years. Mr. Graziano has specialized in consulting and valuation assignments for corporate and private clients on a wide array of complex issues related to estate and condemnation matters, title defects, environmental contamination/damages, air rights, partial and fractional interests, contract disputes, and mediation/arbitration disputes. Mr. Graziano's experience in these matters provides a comprehensive framework for effective strategic real estate consulting. Professional Activities & Affiliations Member: Economic Roundtable - Miami Beacon Council (2012 -present) Board of Director: Integra Realty Resources, Inc. (21111 -present) Director: South Florida Chapter of the Appraisal Institute (2014-2415) Member: University of Miami Alumni Association Advisory Board Member: Urban Land Institute -South Florida Board Member: Builders Association of South Florida (BASF) Subject Matter Expert (SME): Appraisal Practice Board, Appraisal Foundation Member: Appraisal Institute (MAI) Member: Counselors of Real Estate (CRE) Fellow: Royal Institute of Chartered Surveyors (FRICS) (2014) International Association of Assessing Officers (IAAO) National Association of Realtors (REALTOR) Al Leadership Development Advisory Council, March 1998 - February 2041 Lifetime Member: National Eagle Scout Association (NESA) Licenses Florida, State -Certified General Real Estate Appraiser, RZ3510 New Jersey, State-Certif led General Real Estate Appraiser, RGO01261 Education University of Miami, Coral Gables, Florida 1988-1992 Degree: Bachelor of Science in Land Development and Planning, School of Architecture New York University Real Estate Institute, New York, New York 1993-1996 Degree: Master of Science in Real Estate Development and Investment 1 amgraziana@irr.com - 305.670.0001 x370 174 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. 175 Anthony M. Graziano, MAI, CRE Integra Realty Resources Miami/PalmBeach Qualified Before Courts & Administrative Bodies The Douglas Centre 2600 Douglas Road, Suite 801 Qualified and accepted as an expert before the Federal Bankruptcy Court (Newark & Southern Coral Gables, FL 33134 District of Texas); US Federal District Court (Southern District of Florida); Florida Circuit Court (Miami - Dade and Broward Counties); NJ State Tax Court; NJ Superior Court - Chancery Division; NJ Superior T 305.670.0001 Court- Law Division; Monmouth, Atlantic, and Ocean County Boards of Taxation; various municipal F 305.670.2276 planning and zoning boards throughout New Jersey. irr.com Irr. amgraziano@irr.com - 305.670.0001 x320 175 • • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THIS DOCUMENT. RICK SWTT. GOVERNOR Kt N LAWSON, St CRE TARP STATE OF FLOR'OA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE APPRAISAL BD > �r RZ3610 The CERTIFIED GENERAL APPRAISER Named babes 1S CERTIFIED ., Under the provisions of Chapier 476 FS. Expirawn dale NOV 30.2016 _ GRAZIANO, ANTHONY 2500 DOUGLAS ROAD- �1,lI "Ok. CORAL GABLES FL 33134 � �' � ��4`'• ISSUM iVJ&I lA DISPLAY AS REQUIRED BYLAW sma Lfan 638lC� 176 L C � • TEAS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT THE END OF THI5 DOCUMENT. Integra Realty Resources, Inc. Corporate Profile Integra Realty Resources, Inc. offers the most comprehensive property valuation and counseling coverage in the United States with 51 independently owned and operated offices in 34 states and the Caribbean. Integra was created for the purpose of combining the intimate knowledge of well-established local firms with the powerful resources and capabilities of a national company. Integra offers integrated technology, national data and information systems, as well as standardized valuation models and report formats for ease of client review and analysis. Integra's local offices have an average of 25 years of service in the local market, and virtually all are headed by a Senior Managing Director who is an MAI member of the Appraisal Institute. A listing of IRR's local offices and their Senior Managing Directors follows: ATLANTA, GA -Sherry L. Watkins., MAI, FRICS AUSTIN, TX- Randy A. Williams, MAI, SR/WA, FRICS BALTIMORE, MD - G. Edward Kerr, MAI, MRICS BIRMINGHAM, AL - Rusty Rich, MAI, MRICS BOISE, 10 - Bradford T. Knipe, MAI, ARA, CCIM, CRE FRICS BOSTON, MA - David L. Cary, Jr., MAI MRICS CHARLESTON, SC - Cleveland "Bud" Wright, Jr., MAI CHARLOTTE, NC- Fitzhugh L. Stout, MAI, CRE, FRICS CHICAGO}, IL - Eric L. Enloe, MAI, FRICS CINCINNATI, OH - Gary 5, Wright, MAI, FRICS, SRA CLEVELAND,. OH - Douglas P. Sloon, MAI COLUMBIA, SC - Michael B. Dodds, MAI, CCIM COLUMBUS, OH - Bruce A. Doubner, MAI, FRICS DALLAS, TX - Mark R. Lamb, MAI, CPA, FRIC5 DAYTON, OH - Gary S. Wright, MAI, FRICS, SRA DENVER, CO - Brad A. Weyman, MAI, FRICS DETROIT, M1- Anthony Sanna, MAI, CRE FRICS FORT WORTH, TX - Gregory B. Cook, SR/WA GREENSBORO, NC- Nancy Tritt, MAI, SRR, FRICS GREENVILLE, SC- Michael B. Dodds, MAI, CCIM HARTFORD, CT - Mark F. Bates, MAI, CRE, FRICS HOUSTON, FX - David R. Oominy, MAI, CRE FRICS INDIANAPOLIS, IN - Michael C. Lady, MAI, SRA, CCIM, FRICS JACKSON, MS -J. Walter Allen, MAI, FRICS JACKSONVILLE FL - Robert Crenshaw, MAI, FRICS KANSAS CITY, MO/KS - Kenneth Joggers, MAI, FRICS LAS VEGAS, NV - Charles E. Jack IV, MAI LOS ANGELES, CA - John G. Ellis, MAI, CRE, FRICS LOS ANGELES, CA- Matthew J. Swanson, MAI LOUISVILLE, KY - Storey Nicholas, MAI, MRICS MEMPHIS TN - J. Walter Allen, MAI, FRICS MIAMI/PALM BEACH, FL- Anthony M. Graziano, MAI, CRE, FRICS MINNEAPOLIS, MN - Michael F. Amundson, MAI, CCIM, FRICS NAPLES, FL - Carlton J. Lloyd, MAI, FRICS NASHVILLE, TN- R. Paul Perutelli, MAI, SRA, FRICS NEW JERSEY COASTAL - HolvorJ. Egeland, MAI NEW JERSEY NORTHERN - Matthew S. Kra user, CRE, FRICS NEW YORK, NY-Raymand T Cirz, MAI, CRE, FRICS ORANGE COUNTY, CA - Larry D. Webb, MAI, FRICS ORLANDO, FL - Christopher Starkey, MAI, MRICS PHILADELPHIA, PA -Joseph D. Posquorello, MAI, CRE, FRICS PHOENIX, AZ - Walter 'Tres' Winius III, MAI, FRICS PITTSBURGH, PA - Paul D. Griffith, MAI, CRE, FRICS PORTLAND, OR - Brion A. Glanville, MAI, CRE, FRICS PROVIDENCE, RI - Gerard H. McDonough, MAI, FRICS RALEIGH, NC - Chris R. Morris, MAI, FRICS RICHMOND, VA - Kenneth L. Brown, MAI, CCIM, FRICS SACRAMENTO, CA - Scott Beebe, MAI, FRICS ST. LOUIS, MO - P. Ryan McDonald, MAI, FRICS SALT LAKE CI TY, UT- Darrin W. Liddell, MA 1, CCIM, FRICS SAN DIEGO, CA -Jeff A. Greenwald, MAI, SRA, FRICS SAN FRANCISCO, CA -Jan Kleczewski, MA 1, FR ICS SARASOTA, FL - Carlton]. Lloyd, MAI, FRICS SA VANNAH, GA - J. Carl Schultz, Jr., MAI, FRICS, CRE, SRA SEA TTLE, WA - Allen N. Safer, MAI, MRICS SYRACUSE, NY- William J. Kimball, MAI, FRICS TAMPA, FL - Bradford L. Johnson, MAI, MRICS TULSA, OK - Owen 5. Ard, MAI WASHINGTON, DC - Patrick C. Kerr, MAI, SRR, FRICS WILMINGTON, DE - Douglas L. Nickel, MAI, FRICS CARIBBEAN/CAYMAN ISLANDS - James Andrews, MAI, FRICS Corporate Office Eleven Times Square, 540 Eighth Avenue, 15th Floor, Suite A, New York, New York 10036 Telephone: (212) 255-7858; Fax: (646) 424-1869; E-mail info@irr.com Website: www.irr.com irr. 177 SUBSTITUTED CKGROUND INFORMATION TO BE DISTRIBUTED