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2016-29272 Reso RESOLUTION NO. 2016-29272 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE A PUBLIC SCHOOL CONCURRENCY PROPORTIONATE SHARE MITIGATION DEVELOPMENT AGREEMENT ("AGREEMENT"), ATTACHED HERETO AS "EXHIBIT 1", BETWEEN THE CITY OF MIAMI BEACH ("CITY"), MIAMI-DADE COUNTY SCHOOL BOARD (M-DCSB) AND THE FOLLOWING PROPERTY OWNERS: 500 ALTON ROAD VENTURES, LLC; SOUTH BEACH HEIGHTS I, LLC; 1220 SIXTH, LLC; AND KGM EQUITIES, LLC, HEREINAFTER JOINTLY REFERRED TO AS "PROPERTY OWNERS" OF 500-700 ALTON ROAD (HEREINAFTER THE "PROPERTY"); WHICH AGREEMENT PROVIDES FOR THE PAYMENT OF $788,650 TOWARD SCHOOL BOARD CONCURRENCY BY PROPERTY OWNERS TO M-DCS DUE TO THE PROPERTY OWNER'S APPLICATION TO CONSTRUCT 485 MULTIFAMILY RESIDENTIAL UNITS ON THE PROPERTY; AND WHICH AGREEMENT IS CONSISTENT WITH THE REQUIREMENTS OF THE AMENDED AND RESTATED INTERLOCAL AGREEMENT (ILA) BETWEEN M- DCSB AND THE CITY, DATED DECEMBER 12, 2007. WHEREAS, the Miami-Dade County School Board (M-DCSB) and the City entered into that certain Amended and Restated Interlocal Agreement for Public School Facility Planning in Miami-Dade County, dated December 12, 2007 (adopted and executed by the City on February 13, 2008 via Resolution No.: 2008-26762), to implement public school concurrency and to coordinate the approval of residential development with the provision of adequate public school facilities ("ILA"); and WHEREAS, in reviewing new residential construction, the City is required to provide notice to M-DCSB of new residential units being constructed, and during review of an application for new construction, the City requires all new residential construction to comply with all school concurrency requirements associated with the project in order to ensure that the intent of the ILA is adhered to by all developers and to ensure sufficient and proper educational facilities are provided for the City's residents' minor children; and WHEREAS, the following entities: 500 Alton Road Ventures, LLC; South Beach Heights I, LLC; 1220 Sixth, LLC; and KGM Equities, LLC, hereinafter jointly referred to as "Property Owners" are the property owners of a development project known as "The Waves", to be constructed at 500 through 700 Alton Road, Miami Beach (hereinafter the "Property"); and WHEREAS, on May 11, 2015, the Property Owners obtained Design Review Approval from the City of Miami Beach (DRB File No. 22959) to develop "The Waves", on the Property, with no more than 485 multifamily residential dwelling units on the Property; and WHEREAS, a condition of the Design Review Approval requires the Property Owners comply with Public School Concurrency requirements as contemplated by the ILA; and WHEREAS, M-DCSB has determined that: (1) adequate School Facility Capacity is not available for nine (9) of the senior high school students generated by the proposed residential dwelling units, at the Level of Service Standard within the Concurrency Service Area in which the Development Proposal is located, to accommodate the anticipated number of public school students that the Development Proposal will generate; (2) the needed School Facility Capacity for the applicable Concurrency Service Area is not available in any contiguous Concurrency Service Areas within the same Geographic Area; and (3) available School Facility Capacity will not be in place or under actual construction within three (3) years after the approval of the Development Proposal; and WHEREAS, attached hereto as Exhibit 1, is the Public School Concurrency Proportionate Share Mitigation Development Agreement ("Agreement") between M-DCPS, the City and Property Owners; and WHEREAS, as the new residential dwelling units for the Waves, under DRB File no: 22959, will result in a failure of the Level of Service Standard for School Facility Capacity in the applicable Concurrency Service Area, or will exacerbate existing deficiencies in Level of Service Standards, the Agreement, consistent with the requirements of the ILA, ensures that the Property Owner mitigate the failure of service; and WHEREAS, Public School Concurrency shall be satisfied by the Property Owners' execution and compliance with the attached Agreement, which Agreement ensures the Property Owner shall provide mitigation proportionate to the demand for Public School Facilities to be created by these new residential dwelling units; and WHEREAS, the Property Owners shall be required to comply with the Proportionate Share Mitigation requirements of the ILA, by funding the full capital cost of a public school project, comprised of one senior high school classroom of twenty-five (25) student stations ("Monetary Proportionate Share Mitigation"), which will be added to the first three (3) years of the School District's Facilities Work Program; and WHEREAS, pursuant to the Agreement, the Property Owners shall pay to M-DCSB $788,650 in Monetary Proportionate Share Mitigation; and WHEREAS, M-DCSB has authorized the execution of this Agreement in accordance with Board Item F-4, Board Action No. 119,953, at its meeting of December 2, 2015; and WHEREAS, the administration recommends authorizing the attached Agreement, as doing so, ensures compliance with the City's ILA with M-DCSB, and ensures that the Property Owners comply with school concurrency requirements; and NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, the Mayor and City Commission approve and authorize the City Manager to execute a Public School Concurrency Proportionate Share Mitigation Development Agreement ("Agreement") attached hereto as "Exhibit 1", between the City of Miami Beach ("City"), Miami-Dade County School Board (M-DCSB) and the following Property Owners: 500 Alton Road Ventures, LLC; South Beach Heights I, LLC; 1220 Sixth, LLC; and KGM Equities, LLC, hereinafter jointly referred to as "Property Owners" of 500-700 Alton Road, Miami Beach (hereinafter the "Property"); which Agreement provides for the payment by Property Owners of $788,650 toward school board concurrency requirements due to the Property Owners' application to construct 485 multifamily residential units on the Property; and which Agreement is consistent with the requirements of the Amended and Restated Interlocal Agreement (ILA) between M-DCSB and the City, dated December 12, 2007. PASSED and ADOPTED this day of January, 2015. v.�fP ATTEST: % . / / Philip Nevin;v 1ryor :-ice Raf-el E. Granad ,� C'I •.•'y / / • APPROVED AS TO • RP pRki FORM & LANGUAGE ti-Or :.INCO &For31EXqCUTION / 12Y) (9 44,4 1C H 2° 47 City Attorney Dote -111k imam. i F:WTTO\BOUE\RESOS\Concurrency Resolution 500-700 Alton.doc.docx olol(o —c7/9c,27 This instrument prepared by Ana Rijo-Conde Miami-Dade County Public Schools 1450 NE 2Avenue,Room 525 Miami,Florida 33132 After Recording return to: Ana R.Craft,Esquire School Board Attorney's Office 1450 NE 2nd Avenue,#430 Miami,FL 33132 PUBLIC SCHOOL CONCURRENCY PROPORTIONATE SHARE MITIGATION DEVELOPMENT AGREEMENT THIS PUBLIC SCHOOL CONCURRENCY PROPORTIONATE SHARE MITIGATION DEVELOPMENT AGREEMENT ("Agreement"), is made and entered this / day of , /0, by and between THE SCHOOL BOARD OF MIAMI-DADE 1 NTY, FLORIDA, a body corporate and political subdivision of the State of Florida, hereinafter referred to as "School Board" or "School District," whose address is 1450 NE 2ND Avenue, Miami, Florida 33132; CITY OF MIAMI BEACH, a municipal corporation of the State of Florida, hereinafter referred to as "City", whose address is 1700 Convention Center Drive, Miami Beach, Florida 33139; and 500 ALTON ROAD VENTURES, LLC, a Delaware Limited Liability Company; SOUTH BEACH HEIGHTS I, LLC, a Delaware Limited Liability Company, 1220 SIXTH, LLC, a Delaware Limited Liability Company, and KGM EQUITIES, LLC, a Delaware Limited Liability Company, hereinafter collectively referred to as "Applicant," whose address is 2200 Biscayne Boulevard, Miami, Florida 33137. The School Board, City and Applicant are sometimes referred to in this Agreement individually as "Party"and collectively as the"Parties." SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 1 of 28 600 ALTON AGREEMENT RECITALS: WHEREAS, the Applicant (also referred to herein as "Property Owner") is the fee simple owner of that certain tract of land (consisting of, collectively, Folio #s 0242030010220, 0242030010210, 0242030010201, 0242030010200, 0242030010190, 0242030010180, 0242030010170, 0242030010161, 0242030010280, 0242030010100, 0242040060060, 0242040060070, 0242040060050, 0242040060090, 0242040060100, 0242040060040, 0242040060110, 0242040060030, 0242040060020, 0242040060080, 0242040060010, 0242040060120 ) located in the City, more particularly described on Exhibit "A", attached hereto and incorporated herein (the "Property"). The location of the Property described. in Exhibit "A" is further illustrated within a Sketch To Accompany A Legal Description, certified to the School Board, appearing in Exhibit "B"; and WHEREAS, the Applicant has submitted an application seeking approval to develop no more than 485 multifamily residential dwelling units on the Property (the "Development Proposal"); and WHEREAS, the School Board and the City entered into that certain Amended and Restated Interlocal Agreement for Public School Facility Planning in Miami-Dade County, dated December 12, 2007 (adopted and executed by the City on February 13, 2008), to implement public school concurrency and to coordinate the approval of residential development with the provision of adequate public school facilities ("ILA"), incorporated herein by reference; and SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 2 of 28 600 ALTON AGREEMENT WHEREAS, the Design Review Board of the City of Miami Beach, Florida, issued Design Review Approval (DRB File No. 22959) on May 11, 2015 (incorporated herein by reference), approving Applicant's Development Proposal, subject to conditions, one of which is Applicant's compliance with school concurrency requirements; and WHEREAS, the.Parties agree that: (1) adequate School Facility Capacity is not available for nine (9) of the senior high school students generated by the proposed residential dwelling units, at the Level of Service Standard within the Concurrency Service Area in which the Development Proposal is located, to accommodate the anticipated number of public school students that the Development Proposal will generate; (2) the needed School Facility Capacity for the applicable Concurrency Service Area is not available in any contiguous Concurrency Service Areas within the same Geographic Area; and (3) available School Facility Capacity will not be in place or under actual construction within three (3)years after the approval of the Development Proposal; and WHEREAS, the Parties agree that authorizing these new residential dwelling units will result in a failure of the Level of Service Standard for School Facility Capacity in the applicable Concurrency Service Area, or will exacerbate existing deficiencies in Level of Service Standards; and WHEREAS, the Parties agree that Public School Concurrency shall be satisfied by the Applicant's execution of this legally binding Agreement and full compliance SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 3 of 28 600 ALTON AGREEMENT therewith, to provide mitigation proportionate to the demand for Public School Facilities to be created by these new residential dwelling units; and WHEREAS, the Parties agree that the Applicant has selected as the Proportionate Share Mitigation option, the full capital cost of a public school project, comprised of one (1) senior high school classroom of twenty-five (25) student stations ("Monetary Proportionate Share Mitigation"), which will be added to the first three (3) years of the School District's Facilities Work Program; and WHEREAS, the Parties further agree that the Applicant shall pay the Monetary Proportionate Share Mitigation funding as further stipulated herein; and WHEREAS, The School Board of Miami-Dade County, Florida, has authorized the execution of this Agreement in accordance with Board Item F-4, Board Action No. , at its meeting of December 2, 2015; and WHEREAS, the City of Miami Beach, at its meeting of January , 2016, duly passed and adopted on that date, Resolution No. , authorizing the appropriate City officials to enter into this Agreement; and WHEREAS, the Applicant has duly approved this Agreement, and represented to the School Board and to the City, and hereby confirms, that Marissa Galbut, Michael Sheitelman, Shlomo Dacho and Pable De Almagro, have been and are hereby fully authorized to execute this Agreement on behalf of 500 Alton Road Ventures, LLC, South Beach Heights I, and 1220 Sixth, LLC; and David B. Smith and Mark Muhlrad have SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 4 of 28 600 ALTON AGREEMENT been and are hereby fully authorized to execute this Agreement on behalf of KGM Equities, LLC, pursuant to written consent issued September 28, 2015. NOW, THEREFORE, in Consideration of the Sum of Ten Dollars ($10.00), the mutual covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto, intending to be legally bound, hereby agree as follows: 1. INCORPORATION OF RECITALS. The foregoing recitals are true and correct and are hereby incorporated into this Agreement by this reference as if fully set forth herein. 2. DEFINITION OF MATERIAL TERMS. Any terms that are not defined herein are defined as set forth in the ILA. 3. LEGALLY BINDING COMMITMENT. The Parties agree that this Agreement constitutes a legally binding commitment by the Applicant to provide Monetary Proportionate Share Mitigation for the Development Proposal for the Property sought to be approved by the City. 4. MONETARY PROPORTIONATE SHARE MITIGATION. The Parties agree that the amount of the Monetary Proportionate Share Mitigation shall be Seven Hundred Eighty Eight Thousand Six Hundred Fifty Dollars ($788,650.00). The Monetary Proportionate Share Mitigation funds shall be used by the School District to provide for the creation of a classroom of twenty-five (25) senior high school student stations at Miami Beach Senior High School (the "School Project"). Upon the full SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 5 of 28 600 ALTON AGREEMENT execution of this Agreement by all appropriate Parties and receipt of the Monetary Proportionate Share Mitigation-payment, the School District shall issue a Finding of Available School Facility Capacity ("Finding") pursuant to the ILA. The duration and effect of this Finding shall be in accordance with the ILA. However, in no event shall this Finding, or any allocation of student seats based on this Finding ("School Concurrency Allocation"), continue to be effective if the Applicant fails to perform his/her/its obligations under this Agreement. Conversely, once Applicant has completely performed his/her/its obligations under this Agreement, Applicant shall be entitled to rely on the Finding and School Concurrency Allocation to the extent of the School Capacity provided by the Monetary Proportionate Share Mitigation. Delivery of the Monetary Proportionate Share Mitigation payment shall be made by the Applicant within thirty(30) calendar days following the full and proper execution of this Agreement, unless otherwise extended at the sole and absolute discretion of the School Board or designee (defined hereinafter as Effective Date), by wire transfer or any other method of payment acceptable to the School Board's Office of Treasury Management. In the event Applicant fails to pay the Monetary Proportionate Share Mitigation Payment as provided for herein, the School District, at its sole option, may cancel this Agreement and may credit the reserved seats to the Concurrency Service Area from which they were reserved. Issuance of a Finding by the School District shall be a pre-condition to issuance of building permits by the City for the subject Development Proposal. 5. EDUCATIONAL FACILITIES IMPACT FEE CREDIT. As consideration for the Applicant's Monetary Proportionate Share Mitigation specified herein, and as further elaborated in Section 6(c) of this Agreement, the Parties agree SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 6 of 28 600 ALTON AGREEMENT that the School District shall provide a credit estimated at Six Hundred Forty Thousand, Two Hundred Dollars ($640,200.00), toward any Educational Facilities Impact Fees imposed by Miami-Dade County ("County") ordinance for construction of the Development Proposal ("Impact Fee Credit"). The final Impact Fee Credit amount shall be determined by the County, pursuant to the then current Miami-Dade County Educational Facilities Impact Fee Ordinance (Chapter 33K, of Miami-Dade County Code of Ordinances), the Interlocal Agreement Between Dade County and The School Board of Dade County, Florida, relating to Educational Facilities Impact Fee Monies, and the Metropolitan Dade County Educational Facilities Impact Fee Administrative Procedures Manual, as each may have been amended or may be amended from time to time. The amount of the Impact Fee Credit will not include any administrative or other fees which the County may impose as part of its administrative process. 6. MITIGATION BANKING. The Applicant has selected the Monetary Proportionate Share Mitigation option, which will provide for the cost of construction by the School District of twenty-five (25) high school seats, resulting in sixteen (16) seats in excess of the nine (9) seats needed to be mitigated by the Applicant. As such, the Applicant has the right to transfer the excess sixteen (16) seats ("Capacity Credits") to future residential developments, as set forth in this Agreement. In order for the School District to manage and transfer Capacity Credits for the Applicant, a mitigation bank shall be established in connection with this Development Proposal ("Mitigation Bank") for the School Project. The School District shall create and administer the Mitigation Bank as follows: SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 7 of 28 600 ALTON AGREEMENT a. Monetary Proportionate Share Mitigation Cost. The Monetary Proportionate Share Mitigation amount of Seven Hundred Eighty Eight Thousand Six Hundred Fifty Dollars ($788,650.00) is the cost of the Monetary Proportionate Share Mitigation option selected by the Applicant, and is derived by multiplying the total number of student stations to be constructed (25 seats), by the student station cost of$31,546.00, which is the construction cost projected by the Florida Department of Education to be in place at the time of construction of the School Project (October 2017) (i.e.25 student stations x $31,546.00 cost per station = $788,650.00). In this Agreement, "student station" and"seat" shall be used interchangeably unless otherwise specified. b. Number of Banked Seats. The number of Banked Seats shall be established by determining the excess number of school seats, if any, resulting from construction of the School Project("Banked Seats"),to wit: the number of seats to be constructed (25), less the number of seats needed to be mitigated (9), resulting in sixteen (16) Banked Seats for the subject Development Proposal (i.e. 25 seats constructed — 9 mitigated seats = 16 Banked Seats). In this Agreement, "Banked Seats" and "Capacity Credits" shall be used interchangeably unless otherwise specified. c. Estimated Educational Facilities Impact Fee Credits. Pursuant to the Miami-Dade County Educational Facilities Impact Fee Ordinance, the Applicant must pay Educational Facilities Impact Fee(s) ("Impact Fee")prior to issuance of any residential building permit. However, since the Applicant SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 8 of 28 600 ALTON AGREEMENT is required to pay the Monetary Proportionate Share Mitigation payment to the School District prior to obtaining building permits, the School District shall issue the Impact Fee Credit to the Applicant, which the Applicant may present to the County in satisfaction (in whole or in part) of its Educational Facilities Impact Fee obligation. The amount of the estimated Impact Fee Credit shall be the result of multiplying $1,320.00 (the estimated Impact Fee per residential dwelling unit) by the number of approved units (485 multi-family residential dwelling units), resulting in an estimated Impact Fee Credit amount of$640,200.00 (i.e. $1,320.00 estimated impact fee x 485 residential dwelling units= $640,200.00). The Impact Fee Credit shall not include any administrative or other fees, which the County may impose as part of its administrative process. The Parties understand and agree that the Impact Fee Credit stated herein shall be adjusted to reflect the actual amount assessed by the County for the subject Development Proposal. Adjustment to the Mitigation Banking Cost, as hereinafter defined, shall also be required inasmuch as any adjustment to the Impact Fee Credit will also affect the value of the Banked Seat(s). d. Mitigation Banking Cost. The Mitigation Banking Cost of$148,450.00 is the total combined value of the sixteen Banked Seats, which will be eligible and available for transferring Capacity Credits to future residential development applicants ("Mitigation Banking Cost"). The Mitigation Banking Cost is derived by subtracting the estimated Impact Fee Credit ($640,200.00) from the Monetary Proportionate Share Mitigation amount SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 9 of 28 600 ALTON AGREEMENT ($788,650.00), resulting in $148,450.00 (i.e. $788,650.00 - $640,200.00 = $148,450.00). e. Reimbursable Value of Banked Seats. At the time that the Monetary Proportionate Share Mitigation payment is made by the Applicant, and after clearance of all funds, the School District shall issue written confirmation to the Applicant validating the number of Banked Seats available for transfer. Capacity Credits may only be transferred to future residential development proposals within the same Concurrency Service Area or adjacent Concurrency Service Areas, and within the same Geographic Area. For purposes of crediting the Applicant for each Banked Seat, the estimated reimbursable value of each Banked Seat has been established at $5,938.00 ("Estimated Reimbursable Value"). This Estimated Reimbursable Value is obtained by dividing the Mitigation Banking Cost ($148,450.00), by the twenty-five (25) seats to be created as a result of School Project, resulting in an individual Estimated Reimbursable Value of $5,938.00 per Banked Seat (i.e. $148,450.00 divided by 25 seats = $5,938.00). This Estimated Reimbursable Value shall be adjusted to reflect actual total Educational Facilities Impact Fees assessed by the County, resulting in a final determination by the School District of the actual reimbursable value of each Banked Seat ("Final Reimbursable Value"). Applicant hereby authorizes the School District to enter into any required agreement with future developers who may desire to purchase Capacity Credits from the Mitigation Bank, under the terms and conditions set forth herein, and to effectuate the transfer of Capacity Credits SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 10 of 28 600 ALTON AGREEMENT accordingly. Payment by the School District to the Applicant for the Final Reimbursable Value of the Banked Seats purchased shall be made within thirty (30) days after the final amount of the Applicant's Impact Fee Credit has been determined, and a reconciliation of funds is completed by the School District. f. Expiration of Capacity Credits. Capacity Credits may be purchased by future applicant(s) within six (6) years from the date the School Board authorized the execution of this Agreement, which in this instance, is hereby established as December 2, 2015, and subject to expiration of timeframe set forth under Section 17 hereof. After 5:00 PM (Miami Time), December 1, 2021, any remaining Capacity Credits created by the Monetary Proportionate Share Mitigation option shall be deemed expired, and any Banked Seat(s) not yet transferred will be returned to the Concurrency Service Area where the School Project was constructed. g. Purchasing of Capacity Credits by Future Applicants. The School District agrees to make known to all future residential development applicants within the Concurrency Service Area or Adjacent Concurrency Service Areas within the same Geographic Area, the option to purchase Capacity Credits from this Mitigation Bank. Future applicants may purchase Capacity Credit(s) only if the Mitigation Bank(s) has sufficient number of available seats to provide for the entire school capacity deficiency. SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 11 of 28 600 ALTON AGREEMENT h. Priority of Capacity Credit Transfers. In the event multiple mitigation banks are created by other applicants, for the same Concurrency Service Area or Adjacent Concurrency Service Areas within the same Geographic Area, the Capacity Credits shall be made available for transfer to future applicants in the order in which the Mitigation Bank has been established and the Banked Seats are readily available for transfer to another residential developer applicant, as set forth in Section 17 of this Agreement. i. Annual Reports. The School District will provide annual reports to the Applicant ("Annual Reports"), containing the balance of Banked Seats remaining, if any, and Capacity Credit transfers, if any, prior to July 1 of each year. The School District shall charge an annual administrative fee as may be established in the Procedures Manual for Implementing the Amended and Restated Interlocal Agreement for Public School Facility Planning in Miami- Dade County. The annual administrative fee shall be paid by the Applicant to the School District prior to issuance of the Annual Report. Upon expiration or transfer of all Capacity Credits, the School District shall issue a final report to Applicant("Final Report"). 7. SCHOOL CAPACITY IMPROVEMENT. The School District agrees to apply the Monetary Proportionate Share Mitigation payment made by the Applicant toward the School Projects described under Section 4 of this Agreement. The School Project will include the Monetary Proportionate Share Mitigation, which will be reflected in the District's Facilities Work Program at the time of its next annual update following SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 12 of 28 600 ALTON AGREEMENT the execution of this Agreement and receipt of the Monetary Proportionate Share Mitigation payment as set forth herein. 8. EFFECTIVE DATE. This Agreement shall take effect upon the last of the Parties signing this Agreement, but in no event later than February 12, 2016. Failure to deliver this Agreement to the School Board executed by the Applicant by December 02, 2015 and by the City by January 29, 2015 may, in the sole discretion of the School District, result in the revocation of the Concurrency Determination issued by the School District on November 11, 2014, incorporated herein by reference. 9. TERM. This Agreement shall expire upon the Parties' completion of their performance of all obligations herein or within six (6) years from Effective Date, whichever comes first. 10. STATUTORY COMPLIANCE. The Parties agree that this Agreement satisfies the requirements for a binding Proportionate Share Mitigation agreement in Section 163.3180(6)(h)2, Florida Statutes and as provided for in the ILA. 11. NOTICES AND DELIVERABLES. A. All notices or communications and deliverables under this Agreement by any Party to the others shall be sufficiently given or delivered if dispatched by (a) certified U.S. mail, postage pre-paid, return receipt requested, (b) hand delivery, (c) Federal Express or other comparable overnight mail service, (d) telephone facsimile transmission with transmission receipt, or (e) electronic mail to the following addresses, or as the same may be changed in writing SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 13 of 28 600 ALTON AGREEMENT from time to time. Whenever any of the Parties desires to give notice to the others, such notice must be in writing, addressed to the Party for whom it is intended at the place last specified. The place for giving of notice shall remain such until it is changed by written notice in compliance with the provisions of this paragraph. Until otherwise designated by amendment to this Agreement, the Parties designate the following as the respective places for giving notice ("Notice"): In the case of Notice or communication to the School Board: The School Board of Miami-Dade County, Florida c/o Superintendent of Schools 1450 N.E. Second Avenue, Room 912 Miami,Florida 33132 With copies to: Miami-Dade County Public Schools Facilities Planning Attn: Deputy Chief Facilities& Eco-Sustainability Officer 1450 N.E. Second Avenue, Room 525 Miami,Florida 33132 Arijo@dadeschools.net; and concurrency @dadeschools.net The School Board of Miami-Dade County, Florida c/o School Board Attorney 1450 NE 2 Avenue, Suite 400 Miami, Florida 33132 Walter.Harvey @dadeschools.net Acraft @dadeschools.net SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 14 of 28 600 ALTON AGREEMENT In the case of Notice or communication to the Applicant: Michael S. Sheitelman 2200 Biscayne Boulevard Miami,Florida 33137 Phone: 305 374 5700 With copy to: Bercow Radell &Fernandez, P.A. 200 S. Biscayne Boulevard, Suite 850 Miami,Florida 33131 Fax: (305) 377-6222 Email: gpenn @brzoninglaw.com In the case of Notice or communication to the City: Michael Belush,AICP, Principal Planner Planning Department, City of Miami Beach 1700 Convention Center Dr., Miami Beach,FL 33139 Fax: 305-673-7559 michaelbelush @miamibeachfl.gov With a copy to: Raul Aguila, City Attorney OFFICE OF THE CITY ATTORNEY 1700 Convention Center Dr., Miami B each, FL 33139 RaulAguila @miamibeachfl.gov B. For purposes of this Agreement, the Superintendent of Schools or his/her designee shall be the Party designated by the School Board to grant or deny any and all approvals required under this Agreement, including, without limitation, issuance of reports, as provided herein. C. Except as otherwise provided in this Agreement, any Notice or deliverable shall be deemed received only upon actual delivery at the address set forth SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 15 of 28 600 ALTON AGREEMENT above. Notices or deliverables delivered after 5:00 PM (at the place of delivery) or on a non-business day, shall be deemed received on the next business day. If any time for giving Notice contained in this Agreement would otherwise expire on a non-business day, the Notice period shall be extended to the next succeeding business day. "Day" as used in this Agreement shall be defined as calendar day, unless otherwise provided. Counsel for the School Board, counsel for the City and counsel for the Applicant may deliver Notice on behalf of the School Board, the City and the Applicant, respectively. Any Party or other person to whom Notices are to be sent or copied may notify the other Parties of any change in name or address to which Notices shall be sent by providing the same pursuant to this provision. 12. RELEASE. When all of the Parties' obligations set forth herein are fully paid and performed, each Party shall release all other Parties from this Agreement, and all Parties shall release all other Parties from any and all future claims, costs or liabilities arising out of the provision of Monetary Proportionate Share Mitigation in accordance with this Agreement. These releases shall be simultaneously exchanged and shall be recorded in the Official Records of Miami-Dade County, Florida, evidencing such performance. 13. VENUE; CHOICE OF LAW; ATTORNEY'S FEES. This Agreement shall be interpreted and construed in accordance with and governed by the laws of the State of Florida without regard to its conflicts of laws provisions. Any controversies or legal issues arising out of this Agreement, and any action involving the SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 16 of 28 600 ALTON AGREEMENT enforcement or interpretation of any rights hereunder, shall be submitted to the jurisdiction of the State Court of the 11th Judicial Circuit, in and for, Miami-Dade County, Florida. The Parties agree that in the event of any dispute of whatever nature relating to this Agreement, venue shall be in Miami-Dade County, Florida. The Parties further agree that, in the event of a dispute among the Parties, each Party shall be responsible for its own attorney's fees and costs through all appeals. 14. CAPTIONS AND PARAGRAPH HEADINGS. Captions and paragraph headings contained in this Agreement are for convenience and reference only. They in no way define, describe, extend or limit the scope or intent of this Agreement. 15. NO WAIVER. No waiver of any provision of.this Agreement shall be effective unless it is in writing, and signed by the Party against whom it is asserted. Any such written waiver shall only be applicable to the specific instance to which it relates, and shall not be deemed to be a continuing or future waiver. The failure of any Party to insist upon strict performance of any of the covenants, provisions or conditions of this Agreement shall not be construed as waiving or relinquishing any such covenants, provisions or conditions, but the same shall continue and remain in full force and effect. 16. EXHIBITS. All Exhibits attached hereto contain additional terms of this Agreement, and are incorporated herein by reference. 17. AMENDMENTS AND ENCUMBRANCE OF PROPORTIONATE SHARE MITIGATION PAYMENT. No modification, amendment, or alteration in the terms or conditions contained herein shall be effective, unless contained in a written document prepared, in recordable form, with the same formality as this SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 17 of 28 • 600 ALTON AGREEMENT Agreement and duly executed by all the Parties to this Agreement. Additionally, this Agreement may be modified only until the earliest of the following times: (a) issuance of the first principal building permit for the Development Project; or (b) the School District Encumbers ("Encumbers" shall mean monies committed by contract or purchase order in a manner that obligates the School Board to expend the funded amount upon delivery of goods or the rendering of services provided by a vendor, supplier or contractor for the School Project) any portion of the Monetary Proportionate Share Mitigation payment; or(c) six (6) months after the date that this Agreement is authorized by the School Board; or (d) the Applicant provides written notice to the Parties advising that the Mitigation Bank is to be established and the School District may immediately transfer Banked Seats to other residential development applicants, as set forth in Section 6 of this Agreement. No refunds shall be made thereafter. 18. COVENANT RUNNING WITH THE LAND. This Agreement shall constitute a covenant running with the land and shall be recorded by the School Board, at the Applicant's expense, in the public records of Miami-Dade County, Florida, and shall remain in full force and effect and be binding upon the undersigned Applicant, and its heirs, successors and assigns, until such time as the same expires in accordance with the provisions hereof, or is otherwise modified or released pursuant to an instrument executed on behalf of the Parties. 19. ASSIGNMENT. The Applicant may assign its rights, obligations and responsibilities under this Agreement to a third party purchaser of all or any part of fee simple title to the Property. Any such assignment shall be in writing and shall require the prior written consent of all of the Parties, such consent not to be unreasonably withheld. SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 18 of 28 600 ALTON AGREEMENT At the election of the School District, such consent may be conditioned upon the written agreement of the assignee to assume all of Applicant/Assignor's duties and obligations under this Agreement and to comply with conditions and procedures to aid in the monitoring and enforcement of the assignee's performance of the Monetary Proportionate Share Mitigation under this Agreement. The Assignor under such assignment shall furnish the Parties with a copy of the duly executed assignment, in recordable form, within ten (10) days of the date of execution of same. The Parties further agree that an assignment of this Agreement shall only be permitted where (a) the Applicant/Assignor has mitigated for the public school impacts of the subject Property with Monetary Proportionate Share Mitigation payment having been made, (b) this Agreement is being assigned to the purchaser of the subject Property, and (c) the assigned Monetary Proportionate Share Mitigation continues to be used for the subject Property. 20. DEFAULT. If any Party fails to perform or observe any of the material terms and conditions of this Agreement for a period of thirty (30) calendar days after receipt of written notice of such default from another Party, the Party giving notice of default may terminate this Agreement by providing the parties with ten (10) days additional written notice. Failure of any Party to exercise its rights in the event of any breach by one or more other Parties shall not constitute a waiver of such rights. No Party shall be deemed to have waived any failure to perform by another Party unless such waiver is in writing and signed by the other Parties. Such waiver shall be limited to the terms specifically contained therein. 21. COUNTERPARTS. This Agreement may be executed in three (3) counterparts, each of which when executed and delivered shall be deemed to be an SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 19 of 28 600 ALTON AGREEMENT original; however, all such counterparts together shall constitute but one and the same instrument. Signature and acknowledgment pages, if any, may be detached from the counterparts and attached to a single copy of this document to physically form one document. The School Board shall be the last party to execute this Agreement. 22. RECORDING OF DOCUMENTS. The School District shall record this Agreement and any related documentation, including without limitation, Assignments, if any, and Releases, within thirty (30)days after proper execution thereof and receipt of the document and recordation costs, in the Public Records of Miami-Dade County, Florida. The Applicant shall pay all recordation costs to the School District. 23. SEVERABILITY. If any provision of this Agreement is declared invalid or unenforceable by a court of competent jurisdiction, the invalid or unenforceable provision will be stricken from the Agreement, and the balance of the Agreement will remain in full force and effect as long as doing so would not affect the overall purpose or intent of the Agreement. 24. WAIVER OF TRIAL BY JURY. THE PARTIES WAIVE TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY PARTY AGAINST ANY OTHER PARTY OR PARTIES WITH RESPECT TO ANY MATTER ARISING UNDER THIS AGREEMENT. 25. TIME IS OF THE ESSENCE. Time is of the essence in the performance of this Agreement. SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 20 of 28 600 ALTON AGREEMENT 26. MERGER CLAUSE. This Agreement and all Exhibits thereto set forth the entire agreement among the Parties, and it supersedes all prior and contemporaneous negotiations, understandings and agreements,written or oral, among the Parties. SIGNATURE PAGES FOLLOW] SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 21 of 28 600 ALTON AGREEMENT IN WITNESS WHEREOF, the Parties have made and executed this Agreement on the respective dates under each signature: APPLICANT/PROPERTY OWNER Insert Witness block 500 ALTON ROAD VENTURES,LLC, a Delaware limited liability company By: Michael Sheitelman, Vice President STATE OF FLORIDA ) COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this _day of , 201_, by Michael Sheitelman, as Vice President of 500 ALTON ROAD VENTURES, LLC, a Delaware limited liability company, on behalf of the Company. He/she is personally known to me or has produced as identification. Notary Public, State of Florida Print Name: My commission expires: [THIS SPACE IS INTENTIONALLY LEFT BLANK] SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 22 of 28 600 ALTON AGREEMENT 1220 SIXTH, LLC, a Delaware limited liability company By: Michael Sheitelman, Vice President STATE OF FLORIDA ) ) COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this _ day of , 201_, by Michael Sheitelman, as Vice President of 1220 SIXTH, LLC, a Delaware limited liability company, on behalf of the Company. He/she is personally known to me or has produced as identification. Notary Public, State of Florida Print Name: My commission expires: SOUTH BEACH HEIGHTS I,LLC, a Delaware limited liability company By: Michael Sheitelman, Vice President STATE OF FLORIDA ) ) COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this _ day of , 201_, by Michael Sheitelman, as Vice President of SOUTH BEACH HEIGHTS I, LLC, a Delaware limited liability company, on behalf of the Company. He/she is personally known to me or has produced as identification. Notary Public, State of Florida Print Name: My commission expires: SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 23 of 28 600 ALTON AGREEMENT KGM EQUITIES,LLC, a Delaware limited liability company By: David B. Smith, Manager STATE OF FLORIDA ) COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this _ day of , 201_, by David Smith, as Manager of KGM EQUITIES, LLC, a Delaware limited liability company, on behalf of the Company. He/she is personally known to me or has produced as identification. Notary Public, State of Florida Print Name: My commission expires: [Note: Joinder by Mortgagee(s) duly executed and notarized must be attached hereto.] [THIS SPACE IS INTENTIONALLY LEFT BLANK] SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 24 of28 600 ALTON AGREEMENT SCHOOL BOARD THE SCHOOL BOARD OF MIAMI- DADE COUNTY, FLORIDA WITNESSES: By: (Seal) Alberto M. Carvalho, Superintendent of Schools day of , 201_. RECOMMENDED: TO THE SCHOOL BOARD: Approved as to Form and legal sufficiency: Jaime G. Torrens School Board Attorney Chief Facilities Officer SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 25 of 28 600 ALTON AGREEMENT ACKNOWLEDGMENT STATE OF FLORIDA ) SS: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged before me this day of , 201_, by ALBERTO M. CARVALHO, as Superintendent of Schools, acting on behalf of THE SCHOOL BOARD OF MIAMI-DADE COUNTY, FLORIDA, a public body corporate and politic existing under the laws of the State of Florida, who personally appeared before me, and is [ x] personally known to me or [ ] produced as identification, and who further acknowledged that he signed the above instrument with full authority, as set forth therein, on behalf of The School Board of Miami-Dade County, Florida. Notary: [NOTARY SEAL] Print Name: My Commission expires: SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 26 of28 600 ALTON AGREEMENT CITY OF MIAMI BEACH: WI ,•SES: , Ci of Miami Beach: -error-1n0 brrios rf By e , Siiii -r i :� , Mayor p{ / d:i of -e o''t2p- , 2014 ATTEST: 4,0 ,E.<1 gs ` B 2./1 7 i 1 ta er,,,--.. •.'5- ,'' !41/N AEL g.AK4,o a Cler. " CORP ORAT/` " •' • %I C 26 4.0t7:-_ 'lanning Direc r.r tun. ``�� i t- ATTEST APPROVED AS TO FORM AND LANGUAGE AND FOR EXECUTION: OA f B �, , By City Attorney Date: / mil( SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 27 of 28 600 ALTON AGREEMENT ACKNOWLEDGMENT STATE OF FLORIDA ) ) SS: COUNTY OF MIAMI-DADE ) The foregoing instrument was acknowledged pefore me this ✓ f day of i 4VUlt 201 to, by p imIi(/ / as s Mayor, actin g on behalf of City of Mi Beach:, a Municipal Corporation, existin g under the laws of the State of Florida. He/she personally appeared before me, and is [ x] personally known to me or [ ] produced as identification, , and who acknowledged that he/she signed the above instrument with full authority, as set forth therein, on behalf of City of Miami Beach, Florida. Notary: 1j 1 [NOTARY SEAL] Print NA,: pve_A care / My C o W ssion expires: EVE A. BOUTSIS r'''''.>-� Notary Public-State of Florida . �; My Comm.Expires Feb 26,2017_'- Commission # EE 855927 Bonded Through National Notary Assn. • SCHOOL BOARD/PROPORTIONATE SHARE MITIGATION Page 28 of 28 600 ALTON AGREEMENT EXHIBIT A LAND DESCRIP11024: (1300 ALTON ROAD) PARCEL 1: LOTS 3 THISTOGN 10, INCLUSIVE,AND LOT 155 OF °AWEAIEQ PLAT OF AQUARIUM SITE RESusIOn1fx1Cl e, ACODRDIPO To THE PLAT TI1EHEcF. A3:ECORbEb N PLAT BOOK 21. PAGE E%,OF TI1E P1ALJC RECORDS or NIA NI-DACE COUNTY, FLORJDA. FO 2; • LOTS 1, ER 17, IS AND 19, OF'AMENDED PLAT OF AOUARIUY SITE IESI:JBNIIYISIOM',, ACCORDING TO 11E LET TIintAF,AS RECORDED IN PLAT MCC 21.PAGE.83. OF TI-E PUBU. RECORDS OF I,4AA1I-DAADE GOU14T'. FLORIDA, LESS TIE FOLLO!NING DESCRIBED. BEGIN AT TIE SOUTHWEST CORNER OF LOT 19 Cr°AAAENOEO FLAT OF AOUAAIUTAI 3TE RESUIDh,1SION°,.AS RECORDED IN PLAT K 21, PA.GE 94,OF TALE PUBLIC PROMS OF .114141-A4DE COUNTY. FLORIDA. H FIO TH ALM THE WEST LIME OF SAID LOT 19 FOR A QISTAIIC£OF 25.15 FEET TO THE FONT OF INIERZIECT1ON WITH THE RIGHT-OF-NAY WE OF STATE ROAD Art-A; THENCE IT EFLECTIMO BTDU°14°TO TIE loan. ALONG TIE RIGIfT-OF-9AV LINE OF STATE ROAD A-1-4 FOR A C1STANCE Of &3.0G FEET TO TIE PONT OF CURYATIRE OF A ciNcrAAR CURIE TO TIE LET; TiInce Raw]ALONG THE AJMC OF MD CUBE, I&AVE+IS A RADIUS OF 65.5 FEET AP a CENTRAL ANGLE CF ITOD'"Q", FOR M ARC DISTANCE OF 81-�I7 FEET TO THE POINT OF TANI PICT M1TIL THE LAST USAF OF SAO LOT 1, SAID PO1111 RENO 7..40 FEET SOUTH OF THE NORTHEAST CORNER OF SA J LOT 1; THENCE REIN SOUTH ALONG TIE EAST UNE OF LOT 1. FOR A OESTANCE OF 2L72 FEAT TO A POINT OF CURVATURE Dr A GI2GULAR.currit TO 11-E RIGHT;WELKE Kum A1.6,11G THE ARC OF SAID CURIE.RAYING A RAMS OF 03.80 FEET AND A CENTRAL ANGLE OF 8B'SD`3a°,FUG AN ARC DISTANCE OF 100.21 FEET TO A.POINT OF TANGENCY WM-I THE SOUTH UNE OF LOT 1.AT A DIST.AHCE OF 11.20 FEET FRON TIE sOUTH'E.T CORNER Cr LOT 1; THENCE RUN WEST ALOFIC 50UTI1 LANE OF SAID LOTS 1 ANa L9 FOR A DISTANCE OF 39.20 FEET TO THE FOAMY OF BEGINNING. AND BECOMING AT THE SOUTHEAST CCR1NERR Of L¢T 14 OF°AIE EIED PLAT CIF AQUARIUM SITE RESUEIO 1I31O1t,.AS RfQO1bED IN PLAT ROOK 21. PAGE 191, OF TILE PUBLIC FU:7GORD5 OF • ML4UI�4DE COUNTY, FLORIDA.PUN WEST ALONG THE SWIH UNE or LOTS 11 .MD 17 A. DSTANCE OF 12.00 FEET TO THE PONT OF CURVATURE OF A CIRt'ILA2 CHIVE TO T1E RIGHT:TIME RIP ALONG THE ARC OF SAE CIRCULAR CURVE,HAYING A RADIUS OF :Ago FEET ANO A C 4TRAL AM E OF OS'O3'04°, FOR AN ARC CISTANOE OF 23.136 FEL T TO TIE POINT OF TANGENCY NITIH 111E WESTERLY LIME OF SAID LOT 17; THENCE RUN NORT1HWE9 LY ALONG SAID TIESTEPLT 111E OF LOT P7,A. DISTANCE OF 27.89 FEET; PENCE RI1,*I SOUTHEASTERLY ALONG THE ARC Of A TANGENTIAL CIRCULAR CURVE TO THE LEFT. HAVING IFS OF 21.54 FEET AND A CENTRAL ANGLE OF 46 '19'. FOR AN ARC DISTANCE OF 23.94 FEET TO A POINT; THENCE INN EASTERLY ALONG A STRAIGILR UNE A DISTANCE OF 74.72 FEET TO A POINT ON THE EAST LINE OF SAID LOT IS„ SAID PONT BEING z6.iS. FEET NORTH CAF TIE sauTHEAS_T COTHEB OF LOT IS; THENCE RUN SDU11-1 ALONG SAJD EAST LIE OF LOT 18,FOR A DISTANCE OF 15.1t FM TO THE POINT Or BEGINNING. FARO . 5 LOTS 19 Ar40 14.OF °AaiEP>DEQ PLAT CF AOA:AAPUM SITE HESUBDI!t1Oy', ACOOHOING TO TIE PLAT TFCIEOF.AS RECO.4DER IN FIAT 1000 21, PAGE 83.OF 11€ PUBLIC RECORDS OF NIANI-DADE COUNTY. FLORIDA. PARCEL A • LOTS E L AND 11.OF-AMENDED FLAT OF AJARIUY SITE FIE 1BDIYISIOAfi,ACC4433I±+0 TO THE PLAT THEREOF, AS i#LO7 RD£D IN PLAT BANK 21, PACE ME, CF THE PL1®JC RECORDS OF MIAMI-HADE COUNTY.FLORIDA. PARCEL 5; LOTS 1 THRCIJON 7, INC UME AND LOTS 27 THROUGH 12, INGLUSIbE, BUIZIK 2, °AMENIDm PLAT Fuer1WOCD SLO0f:T31ON°, ACCORDIN�6G TO THE PLAT THEREOF, AS REMIDED IN PLAT BOOK 21 AT PAGE 30, OF TIE PUBLIC RECORDS Of DACE COUNTY. FLORIDA: MSS AND EXCEPTING THOSE PORTIONS OF SAID LOTS 1 AND 2, OF BLOCK 2.OF SAID FLAT OF 'AMENIQED FLAT FLEET#O00 SU9DIYLrK1e.MORE PARTICULARLY®ESCRIBED AS FOLLOWS: B EGINNING AT THE NORTHWEST CORNER CF SAID LOT 2;TWICE RUN SOUTH, ALONG THE WEST LINE OF SAID LOT I AND S FOR A DISTANCE OF VI.0O FEET TO A POINT OF CURVATURE; THENCE RUN SDUTFEASTEP.LY.ALONG DIE AMC OF SAID'CIRC:IL,IR CURVE TO TIE LEFT HAVING FOR ELEPEN15-A RADIUS OF 15.00 FEET AND A COAL.ANGLE OF!O DE4IFJES FOR AN ARC DISTANCE OF 25.50 FEET TO A FONT OF TANGENCY wmi TFE 5E]U711 LNE CF SAN)LOFT U;T1-E?42E RUN EAST ALONG TIE SA SOUTH UNE OF LOT I FON A DISTANCE OF SLIT FEET;THENCE RUN NORTHAMTERLY ALONG THE ARC OF A CIRCULAR cumIE TD 11-8 H1GIlT. IIAy1NG FOR ELINENT'S.A RAIIIuS OF 1D:OD FEET A143 A CENTRAL AMU OF 73 DEGREES SS ININUTES 34 SOh1Q"S FOR AN ARC DISTANCE OF 10.17 FEET TO A POINT Of TAIIGENCY;THENCE RUN NORTH 10 DEGREES 23 WIKIJTES SOTONDS'NEST FOR A DISTANCE OF 51,32 FEET TO A POINT ON THE NORTH UK OF SAID LOT 1; THENCE RUN NORTH 11 PEGHEES to MIPA:TTES SO SE,.ONQS MEET FOR A DISTANCE OF 310.99 FEET TO THE FLINT OF BEGINNING.LYING.AND BOONO IN MIAMI-DADE MO T% FLORIDA. PAACE. H; LOTS 23 THROWN 25, IN.CLLSTAE,@I BLOCK 2. OF J DI LEO PLAT FLEET OOO SL IEIk1SID4, AC D00IMG TO TIE PLAT TICKLE AS,RECORCED IN FIAT ROOK 29, PAIGE 54, CF THE PLAI11.1C RECORDS Or NIA11I - TJADE COUNTY, FLORLA. PARCEL 7: (SL A+tv PROVIDED BY CUD' - CORE BY 01F TS) • LOT 4 THROWN 14 PICL#JS1YL, BLOCK 2 LOA WT ;Q FEET OF 'rucEnw000 * DTYL-3K"' . ACCORVI'4G TO THE FLAT THEY F AS RED L'1 FLAT BOOK 2a AT PACE 3A, CF THE PUBLIC RECORDS OF WAN-OADE COUNTY. 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I . 1` MATCH LINE a F'I ,d >° >d ae o N•-4- ;'� 11 MATCH LINE ''' 1 k t N / A�:. a 1 wpr �1 °y . • a z _� iii 0 ti� LOT 3 u • �7'eL. .5 '. 8 .!I� el022 2 299'95' 1 BL�oeli i 2 00 s 0 O MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139,www.miamibeachfl.gov CO MISSION MEMORANDUM TO: Mayor Philip Levine and Members ,•f the City ommission FROM: Jimmy L. Morales, City Manager q DATE: January 13, 2016 SUBJECT: Resolution - Public School C'•i currency Mitigation Agreement - 600-700 Alton Road A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE CITY MANAGER TO EXECUTE A PUBLIC SCHOOL CONCURRENCY PROPORTIONATE SHARE MITIGATION DEVELOPMENT AGREEMENT ("AGREEMENT"), ATTACHED HERETO AS "EXHIBIT 1", BETWEEN THE CITY OF MIAMI BEACH ("CITY"), MIAMI-DADE COUNTY SCHOOL BOARD (M-DCSB) AND THE FOLLOWING PROPERTY OWNERS: 500 ALTON ROAD VENTURES, LLC; SOUTH BEACH HEIGHTS I, LLC; 1220 SIXTH, LLC; AND KGM EQUITIES, LLC, HEREINAFTER JOINTLY REFERRED TO AS "PROPERTY OWNERS" OF 500-700 ALTON ROAD (HEREINAFTER THE "PROPERTY"); WHICH AGREEMENT PROVIDES FOR THE PAYMENT OF $788,650 TOWARD SCHOOL BOARD CONCURRENCY BY PROPERTY OWNERS TO M-DCS DUE TO THE PROPERTY OWNER'S APPLICATION TO CONSTRUCT 485 MULTIFAMILY RESIDENTIAL UNITS ON THE PROPERTY; AND WHICH AGREEMENT IS CONSISTENT WITH THE REQUIREMENTS OF THE AMENDED AND RESTATED INTERLOCAL AGREEMENT (ILA) BETWEEN M-DCSB AND THE CITY, DATED DECEMBER 12, 2007. ADMINISTRATION RECOMMENDATION The Administration recommends that the City Commission approve the Resolution. BACKGROUND/ANALYSIS In 2005, the Florida Legislature amended Chapters 163 and 1063, Florida Statutes, requiring school boards and local jurisdictions to adopt public school elements in their Comprehensive Plans and implement School Concurrency. On February 13, 2008, the City Commission approved Resolution No. 2008-26762, which authorized the City to enter into an Inter-local Agreement (ILA) in order to implement public school concurrency and to coordinate the approval of residential development with the provision of adequate public school facilities. On May 11, 2015, the Property Owners/Applicants, 500 Alton Road Ventures, LLC; South Beach Agenda Item R-7 M Date 1-13-1 Commission Memorandum Resolution—Public School Concurrency Mitigation Agreement—600-700 Alton Road January 13, 2016 Page 2 of 2 Heights I, LLC; 1220 Sixth, LLC; and KGM Equities, LLC obtained Design Review Approval from the Design Review Board (DRB File No. 22959) to develop "The Waves", on the properties located between 600 and 700 Alton Road, with 485 multifamily residential dwelling units. Upon performing a Concurrency Review for the proposed development, Miami-Dade County Public Schools (MDCPS) determined that the required pubic school level of service would not be met, pursuant to the following findings: 1) Adequate school facility capacity is not available for nine of the senior high school students anticipated to be generated by the proposed residential dwelling units, at the level of service standard within the applicable Concurrency Service Area. 2) The needed school facility capacity for the applicable Concurrency Service Area is not available in any contiguous Concurrency Service Areas within the same geographic area. . i 3) Available school facility capacity will not be in place or under actual construction within three years after the approval of the development proposal. Pursuant to the ILA, the property owners are required to mitigate their impacts to senior high schools in order to be able to proceed with the development. In order to mitigate the impact, a Proportionate Share Mitigation Agreement will be required. The ILA requires that the School Board, the City, and the Applicant approve the agreement. As required by the ILA, the attached Proportionate Share Mitigation Agreement will require the applicant to fund the full capital cost of a public school project, comprised of one senior high school classroom with 25 student stations. This classroom will then be added to the first three years of the School District's Facilities Work Program. Since the proposed project only requires nine student stations, a mitigation bank would be established with the surplus 16 student stations. Future developments that create a demand for senior high school student stations will be able to purchase capacity from the mitigation bank, allowing this Applicant to be reimbursed over time for the surplus capacity that would be created from this proposed Proportionate Share Mitigation Agreement. FISCAL IMPACT In accordance with Charter Section 5.02, which requires that the "City of Miami Beach shall consider the long term economic impact (at least five years) of proposed legislative actions," this shall confirm that the City Administration City Administration evaluated the long term economic impact (at least five years) of this proposed legislative action. The proposed Ordinance is not expected to have a negative fiscal impact upon the City. CONCLUSION The Administration recommends that the City Commission approve the Resolution. ,9/61- JLM/SMT/TRM/RAM • T:\AGENDA\2016\January\Planning\School Concurrency Mitigation 500 Alton Road.docx • Accepted the Annual Budget and Audited Financial Statements Relating to the Foundation. 119,950 F_1 AUTHORIZED The Superintendent to (1) execute a lease agreement with Miami-Dade County ("County") for use of the former Floral Heights Elementary School facility, located at 5120 NW 24 Avenue, Miami, Florida, with provisions for the County to sub-lease all or portions of the facility to one or more qualified not-for-profit entities providing County-sponsored programs to the community; and (2) grant or deny all approvals required under the lease agreement, including authorizing sub-lease agreements between the County and qualified entities, increasing or decreasing the area occupied by the County, renewing, extending, cancelling or terminating the lease agreement, and placing the County in default,as may be applicable. 119,951 F_2 AUTHORIZED The Superintendent to (1)execute an Amended and Restated Lease Agreement with the Department of Juvenile Justice of the State of Florida ("DJJ") for use of the Board-owned facility located at 11000 SW 220 Street, Miami, Florida ("Facility"), and review and approve a Sub-lease Agreement between DJJ and South Florida Jail Ministries, Inc., doing business as Agape Network, for use of the Facility; and (2) grant or deny all approvals required under the proposed Amended and Restated Lease Agreement, including authorizing any sub-lease by DJJ, renewing, extending, cancelling or terminating the agreement, and placing DJJ in default, as may be applicable. 119,952 F-3 ESTABLISHED* The fair market value of a portion of the Design and Architecture Senior High School (DASH) site located at 4001 N.E. 2 Avenue, Miami, at or above $53,900,000, and directed the Superintendent to issue an Invitation To Bid for the possible sale of same, in accordance with the process set forth in School Board Policy 7315 — Disposal of Surplus Land and Other Real Property. *As amended; see underlined[added]language. 119,953 F-4 AUTHORIZED The Superintendent to finalize negotiations and execute (1) a Public School Concurrency Proportionate Share Mitigation Development Agreement by and among the School Board, City of Miami Beach and 500 Alton Road Ventures, LLC, South Beach Heights I, LLC, 1220 Sixth, LLC, and KGM Equities, LLC, in connection with construction of a new 485-unit residential development, located at 600-700 Alton Road, City of Miami Beach, providing for monetary proportionate share mitigation, pursuant to the Interlocal Agreement for Public School Facility Planning in Miami-Dade County; and (2) any other documentation that may be Excerpts from Unofficial Minutes of December 2,2015 School Board Meeting Page 3 required to effectuate implementation of the Agreement. 119,954 F-22 COMMISSIONED The Gordian Group, Inc. (d/b/a The Gordian Associates, Inc.) as Job Order Contracting System Consultant, for a four-year term, as set forth in the Official Agenda item. 119,955 F-23 AUTHORIZED The Superintendent, or his designee, to extend the Special Projects Consultant - Structural Engineering Services Agreement for two (2) years, under the same fees, terms and conditions as the original Agreements with (1) Arvelo & Associates, Inc., and (2) M. Hajjar & Associates, Inc. 119,956 F-35 APPROVED The Guaranteed Maximum Price contract for Thornton Construction Company, Inc., for the General Obligation Bond funded renovations project at Shenandoah Middle School (Phase I), located at 1950 SW 19 Street, Miami, FL 33145, Project No.01339000. 119,957 G-1 ADOPTED The Exceptions to the Recommended Order filed by the Superintendent and entered a Final Order consistent with those Exceptions, stating with particularity its reasons and citing to the record to justify the change in the recommendation, in the case of *** v. The School Board of Miami-Dade County, Florida, DOAH Case No. 15-003019. 119,958 G-2 AUTHORIZED The School Board Attorney to retain Holland & Knight, LLP, to provide legal assistance and to represent the School Board in developing public private partnerships and to be compensated at a blended rate of $394 per hour for partners and associates. All attorney's fees and related expenditures under these matters will be within established budgets, and in accordance with Board-approved guidelines. 119,959 H-2 AUTHORIZED The Chair to negotiate and execute a fourth addendum to the Superintendent of Schools' employment agreement, providing for a salary adjustment not to exceed the last salary para- meters approved by the Board at its March 13, 2013 meeting. ********** H-3 WITHDREW The proposal to join in promoting the College Fair and direct the Superintendent to encour- age.all Miami-Dade County Public Schools to participate in the "2016 Miami National College Fair"on Sunday, February 21, 2016. Adjourned /mcs Excerpts from Unofficial Minutes of December 2,2015 School Board Meeting Page 4 Office of Superintendent of Schools November 19, 2015 Board Meeting of December 2, 2015 Office of School Facilities Jaime G. Torrens, Chief Facilities Officer SUBJECT: THAT THE SCHOOL BOARD OF MIAMI-DADE COUNTY, FLORIDA, AUTHORIZE THE SUPERINTENDENT TO FINALIZE NEGOTIATIONS AND EXECUTE: - 1) A PUBLIC SCHOOL CONCURRENCY PROPORTIONATE SHARE MITIGATION DEVELOPMENT AGREEMENT BY AND AMONG THE SCHOOL BOARD, CITY OF MIAMI BEACH AND 500 ALTON ROAD VENTURES, LLC, SOUTH BEACH HEIGHTS I, LLC, 1220 SIXTH, LLC, AND KGM EQUITIES, LLC, IN CONNECTION WITH CONSTRUCTION OF A NEW 485-UNIT RESIDENTIAL DEVELOPMENT, LOCATED AT 600-700 ALTON ROAD, PROVIDING FOR MONETARY • PROPORTIONATE SHARE MITIGATION PURSUANT TO THE INTERLOCAL AGREEMENT FOR PUBLIC SCHOOL FACILITY PLANNING IN MIAMI-DADE COUNTY; AND 2) ANY OTHER DOCUMENTATION THAT MAY BE REQUIRED TO EFFECTUATE IMPLEMENTATION OF THE AGREEMENT COMMITTEE: FACILITIES AND CONSTRUCTION LINK TO STRATEGIC EFFECTIVE AND SUSTAINABLE BUSINESS PRACTICES BLUEPRINT: Background 500 Alton Road Ventures, LLC, South Beach Heights I, LLC, 1220 Sixth, LLC, and KGM Equities, LLC ("developer"), received site plan approval from the City of Miami Beach ("City") for a 485-unit residential development ("Residential Development") on approximately 6.28 acres, located at 600-700 Mon Road, City of Miami Beach (see location map), contingent upon the developer obtaining a school concurrency determination from the District, in accordance with the terms of the Interlocal Agreement for Public School Facility Planning in Miami-Dade County ("ILA"). Pursuant to State Statutes and the ILA, the Residential Development application was F-4 Page 1 of 6 reviewed by the District for compliance with Public School Concurrency. The review yielded that the applicable Level of Service ("LOS") standard was met at the elementary school and middle school levels, but is deficient by nine (9) high school seats. The impacted school is Miami Beach Senior High School. Proportionate Share Mitigation Pursuant to the ILA, where there is insufficient capacity to address the impacts of a proposed development, representatives of the applicant, impacted local government and District (collectively "the Parties") are to discuss ways of mitigating the development's impact, including proportionate share mitigation options ("Mitigation"). After several meetings, the Parties have reached consensus on Mitigation, subject to Board and City approval; this also allows the Parties to enter into a Public School Concurrency Proportionate Share Mitigation Agreement ("Agreement"), pursuant to the ILA. Under the governing provisions, the minimum acceptable mitigation project is a classroom. In this case, to address the deficiency of nine (9) senior high student stations, Mitigation by the developer will be a monetary contribution equal to the cost of one senior high school classroom containing twenty-five (25) student stations (the "School Project"). To facilitate the proposed School Project, a line item in the amount of $788,650 (the "Mitigation Cost") will be included in the District's Facilities Work Program as part of the next update, for the creation of twenty-five (25) senior high school student stations as part of a proposed addition at Miami Beach Senior High School. The Mitigation Cost was derived based on the cost per student station, as published by • the State of Florida DOE, for November of 2017, the date by which implementation of the School Project would likely start. It should be noted that as required under state law and the ILA, the developer will be eligible to receive Educational Facilities Impact Fee Credits in an amount currently estimated at $640,200. The final amount of the Educational Facilities Impact Fee Credit will be adjusted to reflect the actual impact fees assessed by Miami-Dade County ("County") for the Residential Development, once all the residential permits are issued. Mitigation Banking As stated above, the School Project will yield twenty-five (25) student stations, or sixteen (16) seats beyond the nine (9) student stations required to address the Residential Development's impact. Pursuant to the governing ILA, the developer will retain the right to transfer these sixteen (16) seats to future residential developments affecting the same Concurrency Service Area and also in need to provide mitigation at the senior high school level, through a Mitigation Bank to be established and entirely administered by the District. Public School Concurrency Proportionate Share Mitigation Development Agreement The Agreement between the Board, City and developer shall contain, substantially, the following terms and conditions: Page 2 of 6 • the developer shall make an upfront monetary contribution to the Board of $788,650, which is the estimated cost of constructing twenty-five (25) senior high school student stations based on the November 2017 cost per student station published by the DOE; • the value of the School Project is to be added to the District's Facilities Work Program at the time of its next annual update following the execution of the Agreement and upon receipt of the monetary contribution from the developer, most likely as part of the preparation for the FY 2016-17 five-year work plan cycle; • upon the full execution of the Agreement by all appropriate Parties and receipt of payment from the developer, the District shall issue a Finding of Available School Facility Capacity ("Finding"). Issuance of the Finding by the District shall be a pre-condition to issuance of building permits by the City for the subject Residential Development; • as consideration for the developer's up-front monetary contribution, the District shall provide an Educational Facilities Impact Fee Credit, estimated at six hundred forty thousand two hundred Dollars ($640,200), toward any Educational ■ Facilities Impact Fees imposed by County ordinance for construction of the Residential Development. The final Educational Facilities Impact Fee Credit amount shall be determined by the County, pursuant to the then current Miami- Dade County School Impact Fee Ordinance; • the selected monetary ry contribution which will provide for the cost of construction by the District of twenty-five (25) senior high school seats, results in sixteen (16) seats in excess of the nine (9) seats needed to be mitigated by developer. the develo P As such, the developer has the right to transfer some or all of the excess sixteen (16) seats to future residential developments, should such a need arise. In this regard, the District shall establish and administer a Mitigation Bank and mitigation banking process, which, in this instance, will have an initial quantity of sixteen (16) Banked Seats. The estimated reimbursable value of each Banked Seat has been established at $5,938 (total upfront contribution minus the estimated amount of impact fees to be paid, divided by the number of Banked Seats). This estimated reimbursable value shall be adjusted to reflect actual total Educational Facilities Impact Fees assessed by the County, and no reimbursement to the developer shall occur until the impact fee amount to be credited is fully reconciled by the County and determined to be final; • Banked Seats may be purchased by future residential developments affecting the same Concurrency Service Area up to six (6) years from the date the School Board authorized the execution of this Agreement. Any remaining Banked Seats shall be deemed expired at that time; Page 3 of 6 • future residential developments may purchase Banked Seat(s) only if the Mitigation Bank has sufficient number of available seats to provide for the entire school capacity deficiency. In the event that in the future, multiple Mitigation Banks are created for the same Concurrency Service Area, the Banked Seats shall be transferred to future residential developments in the order in which each Mitigation Bank was created and the Banked Seats are available for transfer to another residential developer applicant; • the Agreement shall expire upon the Parties' completion of their performance of all obligations or within six (6) years from the date that the Agreement is executed by all Parties, whichever comes first; • the developer may assign its rights, obligations and responsibilities under this Agreement to a third party purchaser of all or any part of fee simple title to the Residential Development. Any such assignment shall be in writing and shall require the prior written consent of all of the Parties; • the developer shall pay all recordation costs to the District necessary to record the Agreement and any related documentation, including without limitation, Assignments, if any,and Releases; • in the event of any dispute among the Parties, each Party shall be responsible for its own Attorney's fees, and the Parties waive trial by Jury in any action, proceeding or counterclaim brought by any Party against any other Party or Parties with respect to any matter arising under this Agreement; and • for purposes of this Agreement, the Superintendent or his/her designee shall be the Party designated by the Board to grant or deny any and all approvals required under the Agreement, including, without limitation, issuance of reports. The Agreement has been reviewed by the School Board Attorney's Office and the Office of Risk and Benefits Management for legal sufficiency and risk management issues, respectively, and found to be in compliance. Both Counsel for the City and Counsel for the developer have reviewed the Agreement and indicated their concurrence with the proposed terms and conditions. • Page 4 of 6 • RECOMMENDED: That the School Board of Miami-Dade County, Florida, authorize the Superintendent to finalize negotiations and execute: 1) a Public School Concurrency Proportionate Share Mitigation Development Agreement by and among the School Board, City of Miami Beach and 500 Alton Road Ventures, LLC, South Beach Heights I, LLC, 1220 Sixth, LLC, and KGM Equities, LLC, in connection with construction of a new 485-unit residential development, located at 600-700 Alton Road, City of Miami Beach, providing for monetary proportionate share mitigation pursuant to the Interlocal Agreement for Public School Facility Planning in Miami-Dade County, under, substantially, the terms and conditions noted above; and 2) any other documentation that may be required to effectuate implementation of the Agreement. ..) 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