HomeMy WebLinkAboutCRA Pre-LegislationFile Number: 13-00988
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), ACCEPTING THE RECOMMENDATION OF THE
COMMITTEE FORMED TO REVIEW THE PROPOSALS RECEIVED FOR THE
DEVELOPMENT OF BLOCKS 45 AND 56 ("BLOCKS"); APPROVING OVERTOWN
GATEWAY PARTNERS, LLC ("OVERTOWN GATEWAY') AS THE DEVELOPER
AND APPROVING THE VARIANCES PROPOSED BY OVERTOWN GATEWAY;
DIRECTING THE EXECUTIVE DIRECTOR TO ATTEMPT TO NEGOTIATE A
DEVELOPMENT AGREEMENT WITH OVERTOWN GATEWAY, AS THE HIGHEST
RANKED PROPOSER FOR THE DEVELOPMENT OF THE BLOCKS IF
OVERTOWN GATEWAY IS APPROVED BY MIAMI-DADE COUNTY; FURTHER
DIRECTING THAT, IN THE EVENT MIAMI-DADE COUNTY DOES NOT APPROVE
OVERTOWN GATEWAY AS THE DEVELOPER FOR THE BLOCKS, THE BOARD
OF COMMISSIONERS OF THE CRAAPPROVES ALL ABOARD FLORIDA -STATION,
LLC ("ALL ABOARD") AS THE DEVELOPER AND APPROVES THE VARIANCES
PROPOSED BY ALL ABOARD; THE EXECUTIVE DIRECTOR IS DIRECTED TO
ATTEMPT TO NEGOTIATE A DEVELOPMENT AGREEMENT WITH ALL ABOARD,
AS THE SECOND HIGHEST RANKED PROPOSER FOR THE DEVELOPMENT OF
THE BLOCKS IF OVERTOWN GATEWAY IS NOT APPROVED BY MIAMI-DADE
COUNTYAND ALLABOARD IS APPROVED BY MIAMI-DADE COUNTY; AND
CLARIFYING THAT THIS RESOLUTION IS NOT INTENDED TO BE AN AWARD OF
DEVELOPMENT RIGHTS OR TO OTHERWISE CREATE ANY RIGHTS
WHATSOEVER IN ANY PROPOSER REFERENCED HEREIN.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with its approved 2009 Southeast Overtown/Park West Redevelopment Plan
("Plan"); and
WHEREAS, Section 2, Goal 3/Principles 2 and 3, at pages 12 and 14, of the Plan lists creating
infill housing, and developing a variety of housing options as stated redevelopment goals; and
WHEREAS, Section 2, Goal 3/Principle 4, at pages 12 and 14, of the Plan also include the
creation of jobs within the community as a stated redevelopment goal; and
WHEREAS, on June 17, 2013, the CRA issued Request for Proposals No. 13-002 ("RFP") for
the development of the Blocks 45 and 56 (the "Blocks"); and
WHEREAS, on July 22, 2013, three (3) proposals were received by the Clerk of the Board, and
forwarded to the CRA for consideration; and
WHEREAS, a committee consisting of Mr. Greg Gay (City Planner, City of Miami), Mr. Brian
City of Miami Page 1 of 3 File Id: 13-00988 Version: 1) Printed On: 91612013
City of Miami
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CRA Resolution
File Number: 13-00988
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), ACCEPTING THE RECOMMENDATION OF THE
COMMITTEE FORMED TO REVIEW THE PROPOSALS RECEIVED FOR THE
DEVELOPMENT OF BLOCKS 45 AND 56 ("BLOCKS"); APPROVING OVERTOWN
GATEWAY PARTNERS, LLC ("OVERTOWN GATEWAY') AS THE DEVELOPER
AND APPROVING THE VARIANCES PROPOSED BY OVERTOWN GATEWAY;
DIRECTING THE EXECUTIVE DIRECTOR TO ATTEMPT TO NEGOTIATE A
DEVELOPMENT AGREEMENT WITH OVERTOWN GATEWAY, AS THE HIGHEST
RANKED PROPOSER FOR THE DEVELOPMENT OF THE BLOCKS IF
OVERTOWN GATEWAY IS APPROVED BY MIAMI-DADE COUNTY; FURTHER
DIRECTING THAT, IN THE EVENT MIAMI-DADE COUNTY DOES NOT APPROVE
OVERTOWN GATEWAY AS THE DEVELOPER FOR THE BLOCKS, THE BOARD
OF COMMISSIONERS OF THE CRAAPPROVES ALL ABOARD FLORIDA -STATION,
LLC ("ALL ABOARD") AS THE DEVELOPER AND APPROVES THE VARIANCES
PROPOSED BY ALL ABOARD; THE EXECUTIVE DIRECTOR IS DIRECTED TO
ATTEMPT TO NEGOTIATE A DEVELOPMENT AGREEMENT WITH ALL ABOARD,
AS THE SECOND HIGHEST RANKED PROPOSER FOR THE DEVELOPMENT OF
THE BLOCKS IF OVERTOWN GATEWAY IS NOT APPROVED BY MIAMI-DADE
COUNTYAND ALLABOARD IS APPROVED BY MIAMI-DADE COUNTY; AND
CLARIFYING THAT THIS RESOLUTION IS NOT INTENDED TO BE AN AWARD OF
DEVELOPMENT RIGHTS OR TO OTHERWISE CREATE ANY RIGHTS
WHATSOEVER IN ANY PROPOSER REFERENCED HEREIN.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is
responsible for carrying out community redevelopment activities and projects within its Redevelopment
Area in accordance with its approved 2009 Southeast Overtown/Park West Redevelopment Plan
("Plan"); and
WHEREAS, Section 2, Goal 3/Principles 2 and 3, at pages 12 and 14, of the Plan lists creating
infill housing, and developing a variety of housing options as stated redevelopment goals; and
WHEREAS, Section 2, Goal 3/Principle 4, at pages 12 and 14, of the Plan also include the
creation of jobs within the community as a stated redevelopment goal; and
WHEREAS, on June 17, 2013, the CRA issued Request for Proposals No. 13-002 ("RFP") for
the development of the Blocks 45 and 56 (the "Blocks"); and
WHEREAS, on July 22, 2013, three (3) proposals were received by the Clerk of the Board, and
forwarded to the CRA for consideration; and
WHEREAS, a committee consisting of Mr. Greg Gay (City Planner, City of Miami), Mr. Brian
City of Miami Page 1 of 3 File Id: 13-00988 Version: 1) Printed On: 91612013
File Number: 13-00988
Zeltsman (Director of Architecture and Development, CRA), and Ms. Patricia Braynon, (Director,
Housing Finance Authority of Miami -Dade County) was formed to evaluate the responses and make a
recommendation to the Board of Commissioners; and
WHEREAS, the Board of Commissioners has considered the proposals and the
recommendation of the committee; and
WHEREAS, in accordance with the Settlement Agreement between the City of Miami,
Miami -Dade County, and the CRA, dated May 9, 2013 (the "Settlement Agreement"), Miami -Dade
County must approve the developer selected by the CRA for the development of the Blocks and any
proposed variances from the terms of the Settlement Agreement (the "Overtown Gateway Variance");
and
WHEREAS, the Board' of Commissioners wishes to accept the recommendation of the
committee, and to direct the Executive Director to attempt to negotiate a development agreement with
Overtown Gateway Partners, LLC ("Overtown Gateway"), as the highest ranked proposer for the
development of the Blocks and wishes to approve the variances proposed by Overtown Gateway set
forth on Exhibit "A"; and
WHEREAS, in the event Miami -Dade County does not approve Overtown Gateway as the
developer for the Blocks, the Board of Commissioners wishes to approve All Aboard Florida NW 6th
Street, LLC ("All Aboard"), as the second highest ranked proposer for the development of the Blocks
and the Board of Commissioners wishes to approve the variances proposed by All Aboard set forth on
Exhibit "B" (the "All Aboard Variances"); and
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY
Of MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The Board of Commissioners hereby accepts the recommendation of the
committee formed to review the proposals received for the development of Blocks 45 and 56 (the
"Blocks") and approves Overtown Gateway as the Developer and the Overtown Gateway Variance, set
forth on Exhibit "A", subject to Miami -Dade County approval and the Executive Director being able to
finalize an acceptable Development Agreement with Overtown Gateway.
Section 3. The Executive Director is hereby directed to attempt to negotiate a development
agreement with Overtown Gateway after approval of Overtown Gateway by Miami -Dade County.
Section 4. In the event Miami -Dade County does not approve Overtown Gateway, the
Board of Commissioners hereby approves All Aboard and the All Aboard Variances, set forth in Exhibit
"B," subject to Miami -Dade County approval and the Executive Director being able to finalize an
acceptable Development Agreement with All Aboard.
Section 5. In the event that Overtown Gateway is not approved by Miami -Dade County and
All Aboard is approved by Miami -Dade County , the Executive Director is directed to attempt to
negotiate a development agreement with All Aboard Florida, as the second highest ranked proposer
for the development of the Blocks.
City of Miarni Page 2 of 3 File Id. 13-00988 (Version: 1) Printed On: 9/6/2013
File Number. 13-00988
Section 6. This Resolution shall not be deemed or construed to be an award of
development rights or to otherwise create any rights whatsoever in the proposers referenced herein,
any such rights only to be created upon the execution of a definitive Development Agreement with
such proposer after approval by Miami -Dade County.
Section 7. This Resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND LEGAL SUFFICIENCY:
A
WILLIAM R. BLOOM, ESQ.
SPECIAL COUNSEL
City of Mialni Page 3 of 3 File 1d: 13-00988 (Version: 1) Printed On: 91612013
EXHIBIT "A"
Overtown Gateways Proposed Variance
Overtown Gateway ("Developer") proposes a variance to Section 7 of the Declaration of
Restrictions ("Declaration") to provide thirty-six (36) months following commencement of
vertical construction to substantially complete construction of Phase 1. Section 7 of the
Declaration currently provides for twenty-four (24) months for substantial completion.
The Developer has requested this variance due to the size and complexity of the project. The
Developer has advised that Building One is expected to reach substantial completion within
thirty (30) months. This assumes steady progress and no unforeseen delays. The Developer has
requested thirty-six (36) months to provide a mode buffer on the grounds that the current
deadline would negatively impact potential financing for the Project, and potential financiers
would be extremely concerned about the high likelihood of default and the ramifications.
Exhibit "B"
Proposed Variances
The Developer proposes the following variances to the Declaration:
1. Project Payments. In lieu of making the Project Payments as defined in the Declaration,
which requires payment over time, the Developer shall pay on the Closing Date, Five Million
Five Hundred Thousand and No/100 Dollars ($5,500;000.00) to be shared equally by the County
and the CRA.
2. Completion Date. Substantial completion of the Project is anticipated to occur
approximately nineteen (19) months in advance of the completion date permitted by the
Declaration. However, since the Retail Component and the Residential Component (collectively,
the "Project") are integrated, in lieu of substantially completing construction of each the Retail
Component and Residential Component separately within twenty four (24) months after
commencement of Vertical Construction of the Project as required in Section 7 of the
Declaration, the Developer proposes to substantially complete construction of the entire Project
within thirty (30) months of the commencement of Vertical Construction of the same.
3. Estoppel. Developer proposes the addition of a provision to the Declaration authorizing
the County Mayor or its designee, on behalf of the County, and the Executive Director, on behalf
of the CRA, to execute an estoppel certificate or similar instrument, upon the request of the
Developer and in form and substance reasonably acceptable to the County or the CRA, as
appropriate, affirming compliance with the conditions set forth in the Declaration and the
termination of the possibility of reverter.
4. Residential Restrictions. Developer proposes providing 60 residential units in
compliance with the provisions of Section 3 of the Declaration with all residential units in excess
of 60 residential units being market rate units.
5. Indemnification Agreement. In lieu of providing the Indemnification Agreement the
Developer is proposing an alternative risk management solution in the form of a payment of One
Million and No/100 Dollars ($1,000,000.00) (the "Indemnity Payment") for the benefit of the
City, the County and the CRA. Within one (1) business day following the end of the Inspection
Period if the Developer does not elect to terminate this Agreement, Developer shall deposit the
Indemnity Payment with the Escrow Agent, which shall be disbursed (i) at Closing pursuant to
disbursement instructions signed by the City, County and the CRA or (ii) disbursed to the
Developer if this Agreement is terminated prior to Closing.
6. Clarification on Reversion Rights. Section 9(E) of the Declaration provides as follows:
"In the event a Default Notice is issued pursuant to Section 9(A)(i), (ii), or (iii) of this
Declaration, and is not cured in the Default Cure Period, as same may be extended, in
accordance with the last sentence of Section 9(A), title to any portion(s) of the Property which
have not been improved with buildings shall automatically revert to the CRA, subject to the right
of the County set forth in the Declaration and in the Settlement Agreement ..." It is the
Developer's understanding that the foregoing reversion shall not apply if improvements to the
Property have been commenced, even if such improvements have not been substantially
completed. If that is not the correct interpretation of the foregoing provision, Developer has
agreed to pay the following in lieu of any such possible reversion rights: payment to each of the
County and the CRA, as liquidated damages, Two Thousand Five Hundred and No/100 Dollars
($2,500.00) per day for each day between the Outside Date until substantial completion of the
Project. The Outside Date shall mean the later of the date (i) the Developer should have
achieved substantial completion of the Project, as may be extended as provided in the
Declaration, or (ii) May 15, 2018. The Project shall have the meaning set forth in the
Development Agreement_
CRA Requested Variance
Termination based upon Inspection. If the Development Agreement is executed between the
Developer and the CRA and the Developer terminates the Development Agreement during the
Inspection Period, the CRA shall be required to issue another Development Opportunity within
thirty (30) days of the date of termination.
File ID: 13-00988
Enactment #: CRA -R-13-0054
Version: 2
City of Miami
Text File Report
Type: CRA Resolution
Introduced: 8/22/13
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Status: Passed
Enactment Date: 9/12/13
Controlling Body: SEOPW Community
Redevelopment
Agency
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH
ATTACHMENT(S); APPROVING OVERTOWN GATEWAY PARTNERS, LLC ("OVERTOWN
GATEWAY") AS THE DEVELOPER FOR BLOCK 45 AND ALL ABOARD FLORIDA -STATION,
LLC ("ALL ABOARD") AS THE DEVELOPER FOR BLOCK 56 AND APPROVING THE
PROPOSED VARIANCES; DIRECTING THE EXECUTIVE DIRECTOR TO ATTEMPT TO
NEGOTIATE A DEVELOPMENT AGREEMENT WITH OVERTOWN GATEWAY WITH RESPECT
TO BLOCK 45 AND NEGOTIATE A DEVELOPMENT AGREEMENT WITH ALL ABOARD FOR
BLOCK 56 IF OVERTOWN GATEWAY AND ALL ABOARD ARE APPROVED BY MIAMI-DADE
COUNTY; AND CLARIFYING THAT THIS RESOLUTION IS NOT INTENDED TO BE AN
AWARD OF DEVELOPMENT RIGHTS OR TO OTHERWISE CREATE ANY RIGHTS
WHATSOEVER IN OVERTOWN GATEWAY OR ALL ABOARD.
WHEREAS, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") is responsible for carrying
out community redevelopment activities and projects within its Redevelopment Area in accordance with its approved 2009
Southeast Overtown/Park West Redevelopment Plan ("Plan"); and
WHEREAS, Section 2, Goat 3/Principles 2 and 3, at pages 12 and 14, of the Plan lists creating infill housing, and developing a
variety of housing options as stated redevelopment goals; and
WHEREAS, Section 2, Goal 3/Principle 4, at pages 12 and 14, of the Plan also include the creation of jobs within the
community as a stated redevelopment goal; and
WHEREAS, on June 17; 2013, the CRA issued Request for Proposals No. 13-002 ("RFP") for the development of the Blocks
45 and 56 (the "Blocks"); and
WHEREAS, on July 22, 2013, three (3) proposals were received by the Clerk of the Board, and forwarded to the CRA for
consideration; and
WHEREAS, a committee consisting of Mr. Greg Gay (City Planner, City of Miami), Mr. Brian Zeltsman (Director of
Architecture and Development, CRA), and Ms, Patricia Braynon, (Director, Housing Finance Authority of Miami -Dade
County) was formed to evaluate the responses and make a recommendation to the Board of Commissioners; and
City of Miami Page 1 Printed on 9/30/2016
development of Block 56 and approves the variance set forth on Exhibit "A", subject to Miami -Dade County approval and
the Executive Director being able to finalize an acceptable Development Agreement with Overtown Gateway with respect to
Block 45 and finalize an acceptable Development Agreement with All Aboard with respect to Block 56 within the time frame
required by the Settlement Agreement.
Section 3. The Executive Director is hereby directed to attempt to negotiate development agreements with Overtown
Gateway and All Aboard after approval of Overtown Gateway and All Aboard by Miami -Dade County.
Section 4. In the event Miami -Dade County does not approve Overtown Gateway and All Aboard, the Board of
Commissioners hereby directs the Executive Director to issue a new request for proposals with respect to the Blocks as
required by the Settlement Agreement.
Section 5. This Resolution shall not be deemed or construed to be an award of development rights or to otherwise create
any rights whatsoever in Overtown Gateway or All Aboard, any such rights only to be created upon the execution of a
definitive Development Agreement with Overtown Gateway with respect to Block 45 and All Aboard with respect to Block 56
within the time frame required by the Settlement Agreement after approval by Miami -Dade County and after approval of each
respective Development Agreement by the Board of Commissioners of the CRA.
Section 6. This Resolution shall become effective immediately upon its adoption.
City of Miami Page 2 Printed on 9/30/2016
SEOPW Board of Commissioners Meeting
September 12, 2013
SOUTHEAST OVERTOWN/PARK WEST
COMMUNITY REDEVELOPMENT AGENCY
INTER -OFFICE MEMORANDUM
To: Board Chair Michelle Spence -Jones Date: September 5, 2013 File: 13-00988
and Members of the CRA Board
From: Clarence E. Woods, III
Executive Director
BACKGROUND:
Subject: Selection of Developer for Blocks 45 and 56
References:
Enclosures: Supporting Documentation; Legislation
The Board of Commissioners of the Southeast Overtown/Park West Community Redevelopment Agency
("CRA") is being presented with the attached Resolution which provides for the following: (1) acceptance of the
recommendation of the committee formed to review the proposals received for the development of Blocks 45
and 56; (2) approval of Overtown Gateway Partners, LLC ("Overtown Gateway") as the developer for Blocks 45
and 56, and approval of variances proposed by Overtown Gateway; (3) direction to the Executive Director to
attempt to negotiate a development agreement with Overtown Gateway; (4) approval of All Aboard Florida -
Station, LLC ("All Aboard") as the developer in the event Miami -Dade County does not approve Overtown
Gateway as the developer for Blocks 45 and 56 and approval of variances proposed by All Aboard; and (5)
direction to the. Executive Director to attempt to negotiate a development agreement with All Aboard in the event
Overtown Gateway is not approved by Miami -Dade County.
Pursuant to the terms of the Settlement Agreement between Miami -Dade County, City of Miami and the CRA,
dated May 9, 2013, the CRA was required to conduct a solicitation for the selection of a Developer for the
development of Blocks 45 and 56 within 120 days from the date of the recording of the "Dismissal, the City
Deed, the Declaration [of Restrictions], the Block 36 Declaration, and the County deed," and approve a
Developer and any proposed variance within 90 days thereafter. Recordation of these instruments occurred on
May 15, 2013. The CRA complied with said requirement when it issued Request for Proposals No. 13-002
("RFP") for the development of Blocks 45 and 56 on June 17, 2013. The RFP was issued with the intent of
receiving proposals that would further the CRA's redevelopment goals and objectives, and be in the best
interest of the public.
The key terms and preferences of the RFP were the following:
• Mixed-use projects with mixed -income residential units.
• Acknowledge the culturally historic neighborhood.
• Compliance with the terms and provisions of the Declaration of Restrictions recorded on May 15, 2013
between Miami -Dade County and the CRA as part of the Settlement Agreement.
• Accommodate the parking needs of the International Longshoremen's Union and the Lyric Theater.
• Requirement that twenty percent (20%) of the subcontractors have their principal place of business in
Miami -Dade County with priority given to Redevelopment Area.
• Requirement that the general contractor and all subcontractors hire forty percent (40%) of the unskilled
labor for the project from Miami -Dade County with priority given to Redevelopment Area,
On July 22, 2013, three (3) proposals were received by the Clerk of the Board, and forwarded to the CRA for
consideration. Proposals were received from All Aboard Florida - Stations, LLC, Overtown Gateway Partners,
LLC and Stone Soup Development, Inc. A committee consisting of Mr. Greg Gay (City Planner, City of Miami),
Mr. Brian Zeltsman (Director of Architecture and Development, CRA), and Ms. Patricia Braynon, (Director,
Housing Finance Authority of Miami -Dade County) was formed to evaluate and rank the proposals based upon
the evaluation criteria set forth in Addendum No. 1 to the RFP. The Review Committee ranked the proposers in
the following order:
1. Overtown Gateway — 259 points
2. All Aboard Florida — 252 points
3. Stone Soup Development— 194 points
The Executive Director reviewed the Committee's rankings and determined that it was in the best interests of the
public and in furtherance of the CRA's goals and objectives to negotiate with the top two ranked proposers,
Overtown Gateway Partners, LLC and All Aboard Florida Stations, LLC to address and clarify representations
made in the respective proposals, and to negotiate the most favorable terms with both proposers and submit the
results thereof to the Board of Commissioners for consideration, along with any the proposed variances for
consideration. To assist the Board of Commissioners in its consideration, attached please find explanatory
matrices for each of the two proposers reflecting the specific terms negotiated.
Pursuant to the terms of the Settlement Agreement, the CRA is required to select a Developer or reject all
proposals, as well as consider any proposed variances on or before September 16, 2013. The CRA risks
having Blocks 45 and 56 revert back to Miami -Dade County should no action be taken by September 16, 2013.
The Property has been appraised at $20,000,000.00 so compliance with the approval deadline is vital to insure
the CRA maintains control over the development of Blocks 45 and 56.
JUSTIFICATION:
The 2009 Southeast Overtown/Park West Community Redevelopment Plan, at pages 12 and 14, lists the
creation of infill housing, and the development of a variety of housing options as stated redevelopment goals
and principles. The Plan also includes the creation of jobs within the community as a stated redevelopment
goal.
SUPPORTING
DOCUMENTATION
CITY OF MIAMI
INTEIR-OFFICE MEMORANDUM
To: Clarence E. Woods, III Fete: August 7, 2013 File:
Executive Director, SEOPW CRA
Subject: Blocks 46/56
From: Gregory D. Gaya z References:
City Planner, City pf iii
Enclosures:
On, June 17, 2013, the Southeast Overtown/Park West Community Redevelopment Agency ("CRA") Issued
Request for Proposals ("RFP") No, 13-002 for the development of Blocks 45 and 56. On July 22, 20.13, the CRA
received three (3) proposals 1n response to RFP No. 13002 from the following proposers:
1. Stone Soup Development,: Inc, ("Sawyer's Landing")
2. All Aboard Florida — Stations, LLC
3. The Peebles Corporation/EACH Real Estate ("Qvertown Gateway")
On August 2, 2013, a selection committee consisting of: Gregory Gay, City Planner, City of Miami; Brian
Zeltsman, Director of Architecture and Development, CRA; and Patricia Braynon, Director of the .Housing
Finance Authority of Miami -Dade County, met to evaluate the aforementioned proposals, and has ranked the
proposals as follows:
1. The Peebles Corporation/EACH Real Estate ("Qvertown Gateway")
2. All Aboard Florida —Stations, LI -C
3. Stone Soup Development, Inc. ("Sawyer's Landing")
OVERTOWN GATEWAY PARTNERS LLC
RFP RESPONSE
CRA REQUIREMENT
DEVELOPER'S PROPOSAL DURING
NEGOTIATIONS WITH THE CRA
Project Description
Phase I
Comply with the County
Phase I
Settlement Agreement minimum
230 residential apartments, hotel with
development requirements
270 residential apartments, same hotel,
150 rooms, 50,000 square feet of
commercial office, entertainment,
commercial office space and 30,000
retail and parking (an increase of 40
square feet of entertainment and
units)
restaurant retail space with sufficient
parking for compliance with code and
No Sawyer's Walk Cultural Plaza until
cultural plaza between Blocks 45 and 56.
Phase II is constructed (objected to by
Executive Director) (Phase I complies
Phase II
with the County Settlement minimum
development requirements)
408 apartment units, 50,000 square feet
of commercial office space and 30,000
Phase II
square feet of retail space and sufficient
parking for compliance with code
Approximately 410 apartments, same
commercial office, retail and parking.
Includes Sawyer's Walk Plaza Cultural
Plaza (Sawyer's Walk Culture Plaza
was included in Phase I design of RFP
Response)
Deposit
Not requested in RFP
Deposit of $1,000,000; $500,000
Developer proposes Deposit of
upon Effective Date and
$250,000
additional deposit of $500,000 at
end of Inspection Period
RFP RESPONSE
Project Schedule I Phase I:
Preconstruction
Design Development: by March 2014
Construction Drawings: by June 2014
Permitting/Filing: by October 2014
Can-,tnictinn
Commencement construction of Phase I
by October 2014 with completion of
Phase I by March 2017
Phase H:
Preconstruction
Design Development by January 2015
Construction Drawings by April 2015
Permitting/Filing: by July 2015
Construction
Commencement by July 2015
Completion by January 2018
Project Payments Developer request reduction in Project
Payments required by County Settlement
from 5% of Gross Revenue to 2.5% o of
Gross Revenue (variance requested)
CRA REQUIREMENT DEVELOPER'S PROPOSAL DURING
NEGOTIATIONS WITH TRE CRA
Developer comply with time
frames included in RFP response
and comply with time frame
requirements of the County
Settlement Agreement
Full Payment of 2.5% o of Gross.
Revenues to County and 2.5% of
Gross Revenues to CRA as
required by the County
Settlement Agreement
2
425655374 vl
Developer will comply with the time
frame of the County Settlement
Agreement with respect to Phase I
except will require 36 months to
complete Phase I due to the size and
complexity of Phase I instead of
completing construction within 24
months as required by the County
Settlement Agreement but proposes
substantial extended time frames from
that reflected in RFP response with
respect to Phase II (i.e.,
commencement of construction moves
from anticipated date of July 2015 to
an outside date of May 15, 2019)
(other than the time to complete Phase
I the Developer will comply with the
time requirements of the County
Settlement Agreement)
Developer will comply with the stated
rent requirements of the County
Settlement Agreement
RFP RESPONSE CRA REQUIREMENT DEVELOPER'S PROPOSAL DURJ NG
NEGOTIATIONS WITH THE CRA
Affordable Housing
Agreed to provide 60 Affordable
Developer comply with the
Developer has agreed to comply with
Apartments per County Settlement
Affordable Housing
the Affordable Housing requirements
Agreement with slight modification
requirements of the County
of the County Settlement Agreement
(variance requested)
Settlement Agreement
Parking Accommodations
Developer indicates that it will provide
Developer document agreement
Developer has provided no evidence
with Lyric and
required parking
with Lyric Theatre and
of parking agreement but represents to
Longshoremen's Union
Longshoremen's Union
have an agreement with Lyric Theatre.
Still working with Longshoremen's
Union
Indemnity Agreement
Developer indicates willing to provide
Requested Indemnity Agreement
Proposes indemnity Agreement be
Indemnity Agreement
from significant entities in
signed by Developer only and not
addition to Developer
from any significant entities
Guaranty of Completion in
Not requested in RFP
Requested Guaranty of
Developer not willing to provide
addition to payment and
Completion from significant
Guaranty of Completion - Developer's
performance bond
entities
position is that a payment and
performance bond should be sufficient
Demonstrated Financial
Background information provided in RFP
Executive Director requested
Developer has not provided any
Ability to Perform to the
response
financial information from
financial information
CRA
Developer to demonstrate ability
to perform
Requested Variance
Developer requested variances as part of
Developer request as few
Developer is only requesting variance
RFP response. Most significant
variances as possible
of 36 months to complete Phase i
variances are 36 months to complete
instead of 24 months
Phase I and reduction of Project
Payments by 50%
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RFP RESPONSE CRA REQUIREMENT DEVELOPER' S PROPOSAL DURING
NEGOTIATIONS WITH THE CRA
Status of Development
CRA requested Developer
Development Agreement not fmalized.
Agreement
negotiate a Development
Key points have been discussed.
Agreement with Developer
Waiting for redraft from Developer.
incorporating deal terms prior to
submission to CRA Board for
consideration
4
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RFP RESPONSE CRA REQUIREMENT
DEVELOPER'S PROPOSAL DURING
NEGOTIATIONS NV1rM CRA
Project Description
Approximately 258 residential
Comply with the County
Not less than 250 and not more than
apartments, approximately 97,200
Settlement Agreement minimum
360 residential apartments,
square feet of commercial office
development requirements
approximately 95,000 - 100,000 square
space and approximately 55,100
feet of commercial office space with
square feet of restaurant and retail
approximately 50,000 - 56,000 square
space and approximately 2,000
feet of restaurant and retail space, same
parking spaces
parking (Project complies with the
County Settlement Agreement
minimum development requirements)
Deposit
Not requested in RFP
Deposit of $1,000,000; $500,000
Developer has agreed to make Deposits
upon Effective Date and additional
totaling $1,000,000
deposit of $500,000 at end of the
Inspection Period
Project Schedule
Pre -Construction
Developer comply with the time
Developer will comply with time frame
frame included in RFP response
of County Settlement Agreement
Design and zoning approvals: by
and comply with the time frame
except will require 30 months to
mid 2014
requirements of the County
complete construction due to the size
Settlement Agreement
and complexity of the Project
Construction
Commencement: by August 2014
Completion: by October 2016
#25655393_vl
DEVELOPER'S PROPOSAL DURING
RTP RESPONSE CRA REQUIREMENT NEGOTIATIONS VVrM CRA
Project Payments
Upfront payment of $5,500,000 in
Developer increase its payments
Developer proposes payment of
lieu of Project Payments and
$5,500,000 in lieu of Project Payments
Indemnity Agreement (variance
plus community benefits payments
request)
totaling $2,500,000 and separate
payment in lieu of Indemnity
Agreement
Affordable Housing
None proposed - (request variance)
Developer comply with Affordable
Developer has agreed to comply with
Housing Requirement of the
1 Affordable Housing Requirements of
County Settlement Agreement
the County Settlement Agreement
Parking Accommodations
Developer indicates that it will
Developer document agreement
Developer represents that it has
with Lyric and
provide required parking
with Lyric Theatre and
documented parking agreements with
Longshoremen's Union
Longshoremen's Union
the Lyric Theatre and the
Longshoremen's Union
Indemnity Agreement
Developer proposed cash payment in
Request Indemnity Agreement
Developer has agreed to pay a
lieu of Indemnity (request variance)
from Developer and significant
significant amount in lieu of Indemnity
entity or provide cash payment in
Agreement
lieu thereof
Guaranty of Completion in
Not request in RFP
Requested Guaranty of
Developer agreed to provide a
addition to payment and
Completion from significant
Guaranty of Completion from an entity
performance bond
entities
having a minimum net worth of at least
$50,000,000
Demonstrated Financial
Background information provided in
Executive Director requested
Financial information provided by the
Ability to Perform to the CRA
RFP response
financial information from
Developer and reviewed and approved
Developer to demonstrate ability
by Executive Director and Chief
to perform
Financial Officer of CRA.
#25655393_vl
RFP RESPONSE
DEVELOPER'S PROPOSAL DURING
CRA REQUIREMENT NEGOTIATIONS WITH CRA
Requested Variance
waiver of the Affordable Housing
Developer request as few
Proposed variances approved by
Requirement; payment of
variances as possible
Executive Director and are listed on
$5,500,000 in lieu of Project
Exhibit A attached hereto
Payments and waiver Indemnity
Agreement and 30 month time frame
for completion of Project instead of
24 months (still ahead of schedule)
Status of Development
CRA requested Developer to
Development Agreement fully
Agreement
negotiate a Development
negotiated and Developer and
Agreement with Developer
Executive Director have agreed to final
incorporating deal terms prior to
terms, subject to Board approval
submission to the CRA Board for
consideration
#25655393 vl
EXHE131T A
Proposed Variances
The Developer proposes the following variances to the Declaration:
1. Project Payments. In lieu of making the Project Payments as defined in the Declaration, which requires payment over time, the
Developer shall pay on the Closing Date, Five Million Five Hundred Thousand and No/100 Dollars ($5,500,000.00) to be shared
equally by the County and the CRA.
2. Completion Date. Substantial completion of the Project is anticipated to occur approximately nineteen (19) months in advance
of the completion date permitted by the Declaration. However, since the Retail Component and the Residential Component
(collectively, the "Project") are integrated, in lieu of substantially completing construction of each the Retail Component and
Residential Component separately within twenty four (24) months after commencement of Vertical Construction of the Project as
required in Section 7 of the Declaration, the Developer proposes to substantially complete construction of the entire Project within
thirty (30) months of the commencement of Vertical Construction of the same.
3. Estoppel. Developer proposes the addition of a provision to the Declaration authorizing the County Mayor or its designee, on
behalf of the County, and the Executive Director, on behalf of the CRA, to execute an estoppel certificate or similar instrument, upon
the request of the Developer and in form and substance reasonably acceptable to the County or the CRA, as appropriate, affirming
compliance with the conditions set forth in the Declaration and the termination of the possibility of reverter.
4. Residential Restrictions. Developer proposes providing 60 residential units in compliance with the provisions of Section 3 of
the Declaration with all residential units in excess of 60 residential units being market rate units.
5. Indemnification Agreement. In lieu of providing the Indemnification Agreement the Developer is proposing an alternative risk
management solution in the form of a payment of One Million and No/100 Dollars ($1,000,000.00) (the "Indemnity Payment") for the
benefit of the City, the County and the CRA. Within one (1) business day following the end of the Inspection Period if the Developer
does not elect to terminate this Agreement, Developer shall deposit the Indemnity Payment with the Escrow Agent, which shall be
disbursed (i) at Closing pursuant to disbursement instructions signed by the City, County and the CRA or (ii) disbursed to the
Developer if this Agreement is terminated prior to Closing.
6. Clarification on Reversion Rights_ Section 9(E) of the Declaration provides as follows: "In the event a Default Notice is
issued pursuant to Section 9(A)(i), (ii), or (iii) of this Declaration, and is not cured in the Default Cure Period, as same may be
extended, in accordance with the last sentence of Section 9(A), title to any portion(s) of the Property which have not been improved
with buildings shall automatically revert to the CRA, subject to the right of the County set forth in the Declaration and in the
Settlement Agreement ..." It is the Developer's understanding that the foregoing reversion shall not apply if improvements to the
Property have been commenced, even if such improvements have not been substantially completed. If that is not the correct
4
425655393 vl
interpretation of the foregoing provision, Developer has agreed to pay the following in lieu of any such possible reversion rights:
payment to each of the County and the CRA, as liquidated damages, Two Thousand Five Hundred and No/100 Dollars ($2,500°00) per
day for each day between the Outside Date until substantial completion of the Project. The Outside Date shall mean the later of the
date (i) the Developer should have achieved substantial completion of the Project, as may be extended as provided in the Declaration,
or (ii) May 15, 2018. The Project shall have the meaning set forth in the Development Agreement_
CRA Requested Variance
Termination based upon Inspection. If the Development Agreement is executed between the Developer and the CRA and the
Developer terminates the Development Agreement during the Inspection Period, the CRA shall be required to issue another
Development Opportunity within thirty (3 0) days of the date of termination.
5
#25655343 vl
CNIEPTUIVNI, CATEWAV
EXECUTIVE SUMMARY
!" .. For its entire history, Overtown has been an iconic neighborhood influenced by Black culture that is
celebrated by residents and visitor alike. In the prime of Overtown's "Little Broadway" era, Avenue G (now
known as "Second Avenue") was the nerve center. Blocks 45 and 56 housed some of the most significant
places of the day. The Blocks 45 and 56 are critically important to modern Overtown's intent to establish
a Folk life Village as well as foster a thriving entertainment and commerce district. Their development
must be placed in the hands of a team with genuine intent, provide ability and demonstrable resources for
getting the job done right.
We propose the "Overtown Gateway" projects a bold and thoughtful development designed to transform
parking lots at the heart of Overtown into a vibrant district offering a wide range of options to live, work
and play in the neighborhood. Our proposal is influenced by thoughtful consideration of the various plans
and studies that have been developed for the neighborhood over the last twenty years. The Redevelopment
Plan and HOFDIA standards were central to our consideration and can be seen in the design. The Project
concept can be seen in Tab 3 with images of the design located in Appendix A and B.
The Overtown Gateway team is comprised of highly accomplished firms with collective experience
developing and managing large-scale and complex projects. Detailed information about each individual
team member is located in Appendix C.
Our Development Partners, The Peebles Corporation ('Peebles") and BACH Real Estate ("BACH'), haVe direct
experience with all the components of the project - hotel, residential "office and retail Ovef*the (ast decade,
h - Peebles has developed projects totaling approximately $300 million lnSouth Florida aloneRe'certly Forbes
�i
Magazine named Donahue Peebles, the company's founder, as one oNAY
che texwealtlazest Blacl� Americans
BACH is alocal-based, African-American owned development frxx1le%i by Barrori Chnnerr�Caper is
an emerging developer with over ten years of real estate developrnzlt and acclufsitions experiences He is
a 30 -year native of Miami -Dade with an MBA from The Whartan 5ckiool. Overtowi IGate ivay"Tepres�entsFai,
,joint -venture between BACH and Peebles. Mr. Peebles and Mr. C{:a�nrier have worked xoge�taeior a�deade
I
c r;._.
i th
ftt",T a.,r :'
The Project team includes Munilla Construction Manageme�ir� �`"MCM"), .D St8perison Construction
("Stephenson"), Revuelta Architecture ("`Revuelta"), Miamz'�Xrl�zhgiAuthort ("�vI:1�A)'andBerco'Radell
no
a'` rs'3} f3 ra n'iri -
and Fernandez (11BRF11 ). 4
' ia%k
a Y 4t��ci �ytl
• MCM is a Miami -based construction management f�rzn�and one„tof ihe� argest :-Hispanic-owned
construction firms in the US. The firm has the bonding”"capacYty io hnd�ertake szgle projects ranging up
to $300 million in construction costs and collective oject5totling`$1 billion.
x juciionrmment firm in South Florida.
lana-
Stephensonrs the largest African Americai ownecl�co str
i,.fiy. r t, ,,, s ,r..W ..
They have current experience working m OvertrZw_n as rnaaes of the Caer>partments and Shoppes
we
project (Eight Street, NW Third Avenue)
• Revuelta is one of the most prolific architect e c es�gn+of Miami Mg010
` rise
structures. His portfolio
of projects designed features nearly teribus cl igs, Grre�at6: bownto(�n Miami,
• MPA is the single largest manager csf 1partng xnIa ! They currently manage several lots within
Overtown. Their parking portfolio mclu'cles�t4aages nearly -90 surface lots along with over 11,000
on -street spaces.'
BRF is the premier law firm specializing in laid use'matters throughout Miami, They also have significant
4
oiooei-a•000someoessrawsao�ea_adeooeee+ao�aeo�eooaafa'ii
experience with current land use issues in Overtown. BRF and the Development Partners have worked
together for over ten years,
r-.
We have deliberately sought to address the key objectives of this solicitation with a Project that includes
several facets. The key elements and project benefits are detailed in tabs 3 and 5 respectively.
• Overtown Gateway would generate roughly 750 jobs with the development of Blocks 45 and 56. Our
team has direct experience, deliberate intent and commitment from the top down to exceed the targeted
levels of jobs for local residents and contract opportunities for local companies.
• Significant post -construction jobs will result from the retail, hotel and office components. We plan to put
in place a dedicated jobs and contracts coordinator who would remain active even after construction
to ensure that local residents and companies have every opportunity to work with Overtown Gateway.
Respect for the cultural heritage of Overtown is embedded within our design. Elements of HOFDIA and
the Redevelopment Plan are incorporated. The visual direction of the projectis in synch with Overtown's
history
The Project would generate significant economic returns for SEOPW CRA. This would amountto millions
each year. A summary of the highlights is provided in Tab S.
• Beyond creating jobs, Overtown Gateway will engage Overtown youth by providing educational
experiences exposing them to the real estate industry and entrepreneurship. In doing so, we are
deliberately seeking to sow the seeds for growing the investors of top future whom w, 11 build-up
Overtown with compassion and commitment to its cultural heritage. Our "Overtown Sehol*s" program
is discussed in Tab 5, Project Benefits - item (e).Ij
7� "
f F e H
Parking considerations for ILA and Lyric Theater are accountedfor'in ourplans for firstlaaser F
`XPi
The construction timeline is set up for a two phased project .Th'e fit t'phase vuotild be poised to reed w
immediately with consistent speed. The pace is in line with the deadlines estabjs� ed inthe Declaration
h ,¢
of Restrictions. The scale and approach necessary for the Pto7'ect creates the desires to rseu 'a ew ,,
variances to the Declaration. These are detailed in Tabr,h
'"_:
iSs Jr 4 3.y'g
We are confident about the financial viability of the Project; eb and BACH hay e'szgnficarit"experience
AWN -with the South Florida markets and with hotel, office, regm� ntra�ls,;apd retzl pro`pertzes.01
Collectively; we
have significant financial resource with access to much nieor'undrtalirg OVLrtown.Gateway 7 eaters
evidencing interest from a sample of potential financialI /fie bare pro`vr e',djh_A pe d x D.
The demand for residential in Miami is significant and griSwzngsLVe will cater to the wide cross section of
people seeking workforce housing, desirous oco"bwn lrr7ng�anl attracted. by Overtown's character.
This sector is routinely overlooked,d"accounting fo a a g�tpercenlag Yoh those who work in
Downtown currently and care to live there xnhutue'
The hotel is planned as an extended stay prop�rt�--t 1 atl�a INN
vers to busy esf travelers. Currently, there are
no branded -hotels that competj for thS"n"jeii zn Doritov�n Miami. V17t1� 150 rooms, we anticipated
wgm
g r g !
that the hotel will bean operational success
4141
,
.��� �S Yi.0 A #rte✓ �
The retail is positioned to tap into the-e�nftbft' xient district being formed in Overtown. Downtown's
? retail activity is booming per numerous stuiby th�Dpntown Development Authority We plan to
compete for this business while also benefri ing frog r those who will live, work and play at Overtown
r•
Gateway.
5
p¢¢{¢¢06¢¢¢ ¢�¢6¢OA04 ¢t¢01Q¢¢¢¢„1 O�¢O ¢¢' ♦.Oi O¢6�¢9 Y ♦'O,OyO
( As you review our submission, we hope you agree that Overtown Gateway addresses your objections for
Block 45 and 56. We appreciate the unique opportunity to be considered for such a special opportunity.
Mr. Peebles and Mr. Channer lead our team and are personally excited by the opportunity This represents
a rare opportunity to develop a transformative project that sits both amidst a cultural heritage they claim
and within a geographic market they have a high degree of interest in. Their passion drives the team and
we hope thatthe results exceed your expectations. We look forward to the opportunity to discuss Overtown
Gateway further with your team.
i
6
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"Inges�DrLquiy tVab�6�
Total
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Tot. 2122 fi3[3 �: 12{4$g;�s1?
USES :
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N ewBoston
[toed P.siute i;investment Funcle I Urban Strategy America Fund
July 1, 2013
Mr, Clarence E. Woods, III
Executive director
southeast Overtown/Park West Community Redevelopment Agency
1490 NW 3rd Ave, Suite 105
Miami, Florida 33136
Re: Equity Letter of Interest for Overtown Gateway project
Dear Mr. Woods:
The Urban strategy America Fund is an institutional real estate private equity firm focused on Investing
In real estate projects and properties across the country. Our team has undertaken $1,5 billion in
transactions over the last 10 years, Currently, we are managing a fund with $190 million of Investor
equity, specifically for Investing in real estate.
Mr. Barron Channer (BACH Real Estate) and Don Peebles (The Peebles Corporation) are well known to us
given their proven abilities at identifying and organizing attractive Investments. We have previously
reviewed opportunities presented by them.
In recent conversations, Mr, Channer has presented conceptual plans for the Overtown Gateway
project. The large-scale, mixed-use and transit -oriented nature of the project makes it attractive to us,
Further, our process emphasizes investing with seasoned professionals, like Mr. Channer and Mr,
Peebles, at the helm of each project.
in light of our understanding of the project and regard for capacity of Mr. Channer and Peebles, we
would be pleased to give serious consideration to an investment in Overtown Gateway.
I am available to discuss further, If you desire. Please feel free to contact me at 61.7-873-7909,
150.11111"11 .' NV'%YiI1qC:7o1d rX. 1 r•i.osin,N
75 STATE STREET 121” PLOoR BOSTON, MA 02109 T: 617,723,7760 F; 617.227.4727
♦ 60.0 4 S9b i0N�43'4 $iPOb44Yab.uYi LN.b4 iRii '3'S� :,d;L644j404Ap^b4f 449 ♦d OOV dhi4 i446'd 3846 6944z{bi �,A{ib ♦ b4 H #i 4-•,♦# 90 YP hh 49 - 446`•Yb P4b
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CAPRI CAPITAL, PARTNERS U.0
$73 North Michipn'Awnue, $ulte 34,7e Mop, Illlnoh 6v 611
r 312.373.3966 V 3J2 -M34270 w cupcienpitul.com
0 %rimo@capricopituLCon1
aUIVIN E. PRIMO III
CGnlnnuai & chietrEV8411MV officer
July 17, 2013
Mr. Claranoe E, Woods, III
Executive Director
Southeast Qvertown - Park West Community Redevelopment Agency
14-90 NW 3rd Avenue
Suite 105
Miami, Florida 33136
Re: Equity Interest for Qyegp)m Gateway Proieet
Dear Mr. Woods:
Capri Capital Partners
Please be advised that Messrs. Channar and Peebles have introduced us to their plans for the
Gvertown Gateway Project proposed for the Qvertown neighborhood of Miami. We have
maintained a working relationship with both gentlemen for more than five years and, previously,
consummated a very profitable investment with The Peebles Corporation in downtown San
Francisco. Our regard for their collective experience, capability and professionalism is very high
and we maintain a strong interest in doing additional business with them.
By way of background, Capri Capital Partners, LLC is a real estate investment management firm
that focuses on top tier assets in major property markets throughout the Uulted States, We have
been recognized for our investments in urban commercial and residential properties, such as
Baldwin Hills Crenshaw Shopping Plaza, a 900,000 square foot regional mall in urban Los
Angeles, and North Bethesda Marketplace, a transit -oriented residential and commercial mixed,
use development in Bethesda, Maryland, outside of Washington, DC. The firm was founded in
1992 and currently has approximately $3.4 billion in assets under management, representing
some of the largest institutional investors in the US, In 2012, Black Enterprise Magazine
recognized Capri as its Financial Services Company of the Year,
We have had the opportunity to tour bvertown and review the Project proposed. Given our
interest in the Miami market and desire to invest in urban areas, we, would give strong
consideration to providing equity investment capital to the Project if the opportunity presents
itself. This interest would, of course, be subject to the then current investment mandates of our
clients, as well as a formal investment process, including approval by our internal investment
committee.
0
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SUPPORTING
ALL ABOARD FLORIDA
RESPONSE TO REQUEST FOR PROPIOSAL1.5 (RFP) #13-002
BLOCKS 45 AND 56
'ARD FLORIDA
rooA�IL A,,SO
Alt Aboard Florida
Soutneas' Overtown/Park West Community Redevelopment Agency
Response to Request -1 or Proposals (RFP) #13-002 - Blocks 4-5 and 56 July 2013
All Aboard Florida - Stations LLC ("AAF11),awholly-owned subsidiary ofFlorida East
Coast Industries, Inc. (^FEC|^), is pleased to present this response to the Request for
Proposals #13-002 ("RFP") issued bythe Southeast Overtown/ParkWest Community
Redevelopment Agency (the "CRA") for Blocks 46 and 55 (the "Site"). We appreciate
the CAA's consideration of this propose|, which introduces All Aboard Florida in its
larger context and describes the key relationship of the Site to the regional opportunity
that oxists. We will describe the framework under which we propose to develop the
Site in a manner that fully achieves the aspirations expressed for the Historic Overtown
neighborhood whil.e simultaneously weaving it into the broader vision for the future of
Downtown Miami
We have created a development proposal guided by the 2009 Southeast
Overtown/Park West Community Redevelopment Plan, including the 6 Redevelopment
Goals and 14 Guiding Principles for Historic Overtown, Central to our proposal is a
live/work/play concept that emphasizes the creation of active and vibrant streetfronts
along NW 211d Avenue and NW 6tn and $th Streets and continues Sawyer's Walk along
the NW 7t" Street axis towards the Overtown Metrorail Station. A carefully assembled
mix of uses further supports this objective. The resulting development creates an
anchor that stimulates the Historic Overtown arts district concept and links the
neighborhood to the newly emerging multi -modal transportation hub that we are
developing adjacent to the Site, The project as proposed creates jobs, expands the tax
base, improves the quality of life for residents, increases visitation to the area, respects
and preserves the cultural heritage of Historic Overtown, and introduces a new,
appropriate housing option for the community.
KEY STRESTSCAPE
LJa KAGES
TO WATERFRONT AND
DOWNTOWN DEVELOPMENTS
PEDESTRIAN LINKS TO WATERFRONT
AND DOWNTOWN CULTURAL. AMENITIES
We are committed to working with the residents of the Historic Overtown
community, Our proposal for the Site is reflective not only of the requirements in
the RFP and the goals in the Redevelopment Plan, but also the feedback gathered
from community leaders during the planning stages of our concept. If selected, we
anticipate an interactive process with neighborhood residents and community
groups to help craft the final details of the project's design elements in order to
achieve our goal of comfortably integrating the project into the current and future
visions for Historic Overtown.
All Aboard Florida
Southeast DveMovvn/Park West Connnnun\h/Redevelopment Agency
Response to Request for Proposals (RFP)#13-OO2-Blocks 45and 56 July 2013
Our proposed development offers the immediate opportunity to �� many
critical objectives for the Site while also supporting a number ofbroader initiatives
for the greater Historic Overtovvn neighborhood. The Site is uniquely situated as a
"hinge" between neighborhoods that can be greatly enhanced through connectivity
and integration,
Specifically, the Site is between the historic neighborhood of Southeast Overtown
and the emerging All Aboard Florida downtown transportation hub that will be
established in conjunction with the project. The Site can serve aathe threshold into
the emerging entertainment and arts district that draws upon the cultural heritage
of the Historic DvertowD community and our proposal will link this district to the
transportation hub, \Daddition, a newly enhanced NW 8th Street pedestrian raa|rn
will serve to connect the neighborhood to the planned developments on the former
site ofthe Miami Arena and beyond through the proposed Miami VVVr|d Center
project and, ultimately tothe downtown vvaterfront.
By carefully locating the various uses across the Site and giving thoughtful
consideration to the flows of pedestrian activity and the rnaaa and scale of the
buildings as they address the streetfront. this project will serve as a stimulus for the
realization of the CRA'sv|o|on for the community and will inspire momentum and
growth for the Historic Overtown neighborhood,
All Aboard Florida
Sout�o�s�Ove�Lovv�/Park West Coronnun|tyRedevelopment Agency
Response CoRequest for Proposals (RFp)#N3-O02-Blocks 4Sand GG July 2013
We are singularly positioned to deliver against the many opportunities presented by
All Aboard Florida isbeing developed aothe first
privately owned and operated intercity express
passenger rail system in the United States. This
ground -breaking project will create animportant
transportation alternative along Florida's east
coast, connecting Miami, Fort Lauderdale, West
Palm Beach and Orlando with new, custom-
designed trains and stations,
We have the financial resources and
capabilities to execute the proposed
development as 8 single phase project with
—'�"""������ c�m�+ �z�n nn� m~n�nlcn� �n
...� ~~ ,"~
initiate immediately - resulting in completion date that 1aearlier than anticipated�
'-
m u/e Mrr.
Our team has aproven track record ofdelivering
projects ofthis scale, complexity and type locally,
aowell aslocations around the world. Assuch, we
offer the expertise necessary to understand and
manage the urban planning, development, social,
and financial cha|@angospresented byaproject Vf
this nature.
All Aboard Florida
SoutneastDvertOwn/Park West Comroun:b/Redevelopment Agency
Response hoRequest for Proposals (RFP)#13'OQ2-Blocks 45and 5G July 2013
Over 8OOworker-years ofconstruction labor
over $4Omillion inconstruction wages
over $19 million in fees to the City of Miami related to the development
Over $1 million inannual tax increment revenues tuthe Redevelopment DisVct'sTrust Fund
�WOver l,000new permanent, full-time and part-time direct, indirect, and induced jobs
KEY COMPONENTS OF PROPOSAL
A Live/Work/Play concept, which is in accordance with the 6 Redevelopment
Goals and 14 Guiding Principles outlined in the Redevelopment Plan.
A total of 153,200 sf of commercial space including:
55.DOOSfnfretail, food and beverage outlets, and commercial space that
will activate a newly created pedestrian stnaotscaPeconnecting Historic
C)vertovvntothe downtown transportation hub and beyond. Lively shops
and restaurants with a plaza on the northwest corner of the Site will
promote the Lyric Theater as the centerpiece of the emerging
entertainment and arts district,
o 97,200 sf of office space that will al -low companies to relocate to Overtown
and provide job opportunities and daytime commerce to the
o at least 250 new residences, specifically designed as on appropriate
residential product priced and targetedtoacustomer seeking tolive, work
and play within HistVr|cOvertovvn and the downtown Miami community,
o approximately 2/JOOparking spaces serving the needs ofthe project, the
no|ghborhond, the downtown transportation hub' the Lyric Theater and
the International Longshoremen's Association.
All Aboard Florida
Southeast Overtovvn/Park West Community Redieve8op-mentAgency
Respunoeto Request for Proposals (RFP)#13-O02- B\ocko45and 56 Juiy2O13
_
Over the past few weeks, our team has made a concerted effort to meet with
members of the Historic Omarhzwn community in preparation of submitting this
responye. We met with representatives from the Black Archives, Gt. Johns CDC,
Greater Bethel AME. International Longshoremen's Association -Looa| 1416' Urgent
Inc,, the Historic Ovmrtovvn Fo|klife District Association and various residents.
|nthese meetings, we presented our preliminary plans for the Site and the downtown
transportation hub for All Aboard Florida, The stakeholders were encouraged to share
concerns, ask questions and provide suggestions for the development, Overall, the
stakeholders were supportive of our efforts to bring new development and
opportunities to the area while maintaining a sense ofthe neighborhood's culture and
architectural style.
Establishing and maintaining relationships in Historic Overbuvvn|sessential tomoving
this project forward and securing support for the proposed development. Our team
is committed to working with all of the groups In the �oonnrnunity as the project
progressog. We anticipate there will be opportunities for partnerships and
collaboration once the development program and scheduled are further defined.
|nanearly effort tnengage veteran -owned and minority, disadvantaged and women -
owned enterprise businesses (MBE/DBE/WBE), we hosted two outreach forums in
June to provide firms with more information on the project and an opportunity to
network with potential prime contractors. These events were held in Central and
South Florida and attended by more than 300 firms. Attendees learned about the
project and the procurement schedule, and the afternoon session consisted of vendor
exhibitions. Attendees networked and discussed teaming opportunities with 20
potential prime contracting firms that have expressed an interest In bidding on design
and construction work.
The introduction of new real estate uses, the creation of job opportunities, the
addition of transportation alternatives, and the collective economic and social
benefits tobarealized from our concept make this acompelling proposal, Dntop of
our ability to create a well -executed, large-scale development, we are also in a unique
position tulink Historic Overtowninto our multi modal transit hub, Aaaresult, vve are
confident that vve are inthe best position toeffect positive change for the Historic
Overtpvvnnoighburhood.
All Aboard P':oridy
Soul-east Ov 'tCmrr / POW West Community Rodevc oprourrt Pgoricy
Ftdslrun:;a i:c) Rec,wst fo, Proposal 9111 002 . V cks 4x; tIro 56 July 20'1:3
35
2013
201
01 W2. 03
o;. .WS
PROJECT START
AUG
DESIGN & ENTITLEMENTS
PERMITTING & PROCUREMENT
I
CONSTRUCTION START
PARKING
RETAIL
OFFICE
i
RESIDENTIAL
35
Iia Aboard, Fie^da
u:.tieasi Ove—own 1 Flak' test CoTM; rnity Redevolonment Agency
Response to Rou4.. or ';zuoosa;s ?i V3-002 - Boccs 45 and 50 2013
Office-R—Sr 35.00 MOO 36.05 37.0 M25 3939. 4037 4179 43.05 4434
!iz-d21 a7 -Um iia UMonCh i.?"L&a 1.529.73 1,3s 97 1;409.01 1.45128 7.49492 7,639.66 �5a5E5 L633A3 1,587.43
Parki ..e/M JIT 12<_^..0 2500 '.2fl/" 757'"1 T<659 `4069 iti'9* i4326 T S.P 75II35
'Srab4! D- Achieved. dl;: 31dCY Ids OF201S
Stabihi6d OccuP'aescjj-Rates
•:: -
*�.5%
Retail
30%
Office
90%
Residential
8516
Parking.
90%
NOW '•iqi ;3' �Y'. fx yyx.
%
OPeratltTg Ezpettse'==Rataas
Retail
30%
Office
35%
Residential
421Y.
Parking
25%
37
All. Aboard Flo -;da
Soulhll e'SL Overtcwn i ,ark W957 omrnu-i y Radevo=opifIen" Agnncy
R�spo�.se '0 Re - ___ " . ` Proposals (RFP") "13-002 - B ocus 45 end 56
ttssideistial
Urcts 258
Gross Square Feet 143,500
Gross Square Feetltlnit 750
Net Leaseable Square Feet 164,475
Hzrd Costs 9,36-1,000 16,038AO0 32,895.00d 27.852,36.1 1 66"152,35-1
PrO;CESS.Or'.8] Fees 743.030 1,443.420 2,960.550 2.506.712 7,753,71.2
D—elopr :t & Prcf Cu Mana ema- 53,135 882,090 W9225 1SSI,980 � 4.M8.380
^9a], F]r:ance&Admi isca[lcn 187,340 320.760 Es".900 S5/.041 1,723,04/
Sources !uses
inftdal Lgaity $33.436,52 Land
$5500,000
Debt 72 018527 Development Costs - Retail
10,912555
Development Costs - Office
i8,ES4,270
Development Costs- Residential
38.322,675
Dev=elopment Costs - Parking
32.446.000
._ .. ,.., .. .., Construction In ares';Exoens*
5,5 87_-39
.r L _
OffownN
July 18, 2013
Clarence E. Woods, III
Southeast Overtown/Park West Executive Director
Community Redevelopment Agency of the City of Miami
1490 NW 3rd Ave, Suite 105
Miami, FL 33136
Dear Mr. Woods:
I understand that you are working with Florida East Coast Industries and its
related All Aboard subsidiary regarding the C.R.A. Request For Proposal. Bank of
America and its predecessor banks have shared a 25+ year valued relationship with
Florida East Coast Industries and its related subsidiaries. Please accept this letter
as confirmation that Florida East Coast Industries and its related subsidiaries
maintain sufficient liquidity in the high 8 -figures at Bank of America. Please note
that we have also financed three construction loans for Florida East Coast
Industries in the past twelve months and look forward to additional financing
opportunities offered by Florida East Coast Industries and its related subsidiaries.
Should you have any questions or if I can be of any help in your review of their
qualifications, please do not hesitate to let me know. I can be reached at 305-468-
4378 or kim.abreu@baml.com.
Sincerely,
A
-KQ "+OVL
Kim Abreu
Senior Vice President
Commercial Real Estate Banking Group
#1784721