47. Rent Regulatory AgreementThis Instrument Was Prepared By:
Shannon D. Summerset-Williams, Esq.
Assistant County Attorney
Miami -Dade County Attorney's Office
111 NW 1" Street, Suite 2810
Miami, FL 33128
Record and Return to:
Miami -Dade County
Public Housing and Community Development
701 NW 1" Court, Suite 1400
Miami, FL 33136
Att • D' t
OFF BK 34013 Ras 2897-2910 (14F`ss)
RECORDED 12/1.9/2023 14.'33,.20
J�.lAN FERNAHDEZ-BARQU1H
CLERK OF THE COURT & C:ONI TROLI...ER
NIANI-DADE COUHTYY FL
n. irec or
MIAMI-DADE COUNTY
RENTAL REGULATORY AGREEMENT
[Surtax Loan]
WHEREAS, pursuant to Resolution No. R-285-23 adopted by the Miami -Dade County
Board of County Commissioners, on April 4, 2023, MIAMI-DADE COUNTY (hereinafter
referred to as the "County" or "PHCD") is authorized to loan: (i) Five Million Nine Hundred Fifty
Thousand and 00/100 Dollars ($5,950,000.00) of FY 2022 Surtax/SHIP program funds (or another
non-federal source of County funds, which the County in its sole discretion uses to fund the loan)
(hereafter referred to as the "County Loan") to VISTA BREEZE, LTD., a Florida limited
partnership, its heirs, successors and assigns (hereinafter referred to as the "Owner") for the
purposes outlined and pursuant to the conditions set forth in that certain Loan Agreement by the
Owner and the County in connection with the County Loan (the "Loan Agreement"), Promissory
Note in the amount of Five Million Nine Hundred Fifty Thousand and 00/100 Dollars
($5,950,000.00), executed by Owner in favor of the County (the "Note"), Leasehold Mortgage and
Security Agreement and Assignment of Leases, Rents and Profits (the "Mortgage"), and the FY
2022 Request for Application (RFA) Affordable Housing Funding Agreement between the County
and the Owner, executed simultaneously herewith (the "Contract"), and other documents executed
in connection with the closing of the County Loan (hereinafter referred to as "Loan Documents");
and
WHEREAS, in connection with receipt of the County Loan, the Owner agrees to maintain
the rents at certain prescribed rates, as set forth in this Rental Regulatory Agreement (hereinafter,
the "Agreement"); and
WHEREAS, the County has funded this loan with Surtax/SHIP funds, however at the
County's discretion at any time, including after this Agreement is recorded, the County may use
another non-federal funding source to fund the County Loan, and in that event this Agreement
shall endure in its entirety regardless of the funding source ultimately used to fund the County
Loan. Notwithstanding the foregoing the County Loan is not and will not be sourced with the
proceeds of federal funds or tax-exempt bonds.
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NOW, THEREFORE, for and in consideration of Ten dollars ($10.00), the promises and
covenants contained in this Agreement and for other good and valuable consideration received and
acknowledged as of December 15, 2023, the Owner, its successors and assigns, whose address is
3 MiamiCentral, 161 NW 6th Street, Suite 1020, Miami, Florida, 33136 Attn: Kenneth Naylor, and
Miami -Dade County, a political subdivision of the State of Florida (the "County") having a
principal address of 111 N.W. First Street, Miami, Florida 33128, through its Department of Public
Housing and Community Development (PHCD), or its successor department, hereby agrees as
follows:
PROJECT NAME: Vista Breeze
PROPERTY ADDRESS: 175 and 280 S. Shore Drive, Miami Beach, FL 33141
LEGAL DESCRIPTION
OF PROPERTY: The leasehold interest in the real property legally described and
attached hereto in Exhibit "A" and located in Miami -Dade County
(hereinafter referred to as the "Property")
DWELLING UNITS: 119 units for elderly housing (collectively the "Units" and each a "Unit")
WITNESSETH:
I. Owner agrees with respect to the Property for the period beginning on the date of
recordation of the Loan Documents, and ending on the last day of the forty-third (43rd)
year after the year in which the Project, as defined below, is completed, that:
a) Five (5) of the Units must have rents which are equal to or less than 30% of annual
income for households at or below twenty-two percent (22%) of area median
income ("AMI"), minus tenant -paid utilities, twenty (20) of the Units must have
rents which are equal to or less than 30% of annual income for households at or
below thirty percent (30%) of AMI, minus tenant -paid utilities, sixty-four (64) of
the Units must have rents which are equal to or less than 30% of annual income for
households at or below sixty percent (60%) of AMI, minus tenant -paid utilities, and
thirty (30) of the Units must have rents which are equal to or less than 30% of
annual income for households at or below eighty percent (80%) of AMI, minus
tenant -paid utilities. Accordingly, the maximum initial approved rental rates for this
property and unit size and description are indicated in Exhibit "B" attached
hereto. In the case of Section 8 units, the United States Housing and Urban
Development (hereinafter "HUD") approved contract rent is allowed.
b) This Agreement shall be a recorded restrictive covenant on the Property, and all
buildings and other improvements constructed or to be constructed thereon
(collectively, the "Project"). The subject matter of this Agreement and the
covenants set forth herein touch and concern the Property. It is the intent of the
parties that this Agreement and the covenants set forth herein run with the Property.
This Agreement shall be binding on the Property, the Project, and all portions
thereof, and upon any purchaser, grantee, transferee, owner or lessee or any portion
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thereof, mortgagee, and on the heirs, executors, administrators, devisees,
successors and assigns of any purchaser, grantee, owner, lessee, or mortgagee and
on any other person or entity having any right, title or interest in the Property, the
Project, or any portion thereof, for the length of time that this Agreement shall be
in force. Owner hereby makes and declares these restrictive covenants which shall
run with the title to said Property and be binding on the Owner and its successors
in interest, if any, for the period stated in the preamble above, without regard to
payment or satisfaction of any debt owed by Owner to the County or the expiration
of any Contract between the Owner and the County.
c) The above rentals will include the following features and amenities to each unit:
Termite prevention and pest control throughout entire compliance period or
construction and presale period; Full size stove/range — unless ALF where meals
are provided and units have more limited kitchens; Primary entrance door with a
threshold no more than a I/2 inch rise; A clear opening of not less than 32 inches, or
larger if necessary for ADA requirements, on all exterior doors. This includes the
primary entrance door, all sliding glass doors, French doors, other double leaf
doors, doors that open onto private decks, balconies, patios, and any other exterior
doors; Lever handles on all door handles on primary entrance door and interior
doors; Lever handles on all bathroom faucets and kitchen sink faucets; Mid -point
on light switches & thermostats not more than 48 inches above finished floor level;
Cabinet drawer handles and cabinet door handles in bathroom and kitchen shall be
lever or D-pull type that operates easily using a single closed fist; Window
covering for each window and glass door inside each unit; internet and cable
utilities distributed to all units, with broadband wall connections available in more
than one room, and available for tenants to enroll in private contracts at their units;
Leadership in Energy and Environmental Design (LEED) and any other applicable
requirements of other funding programs included in the Applicant's submission.
If applicable, Proposed Developments using Florida Housing Finance Corporation
resources must include the features agreed to in the FHFC RFA for which the
Owner is receiving funding or features agreed to in the FHFC Non -Competitive
Application for 4% LIHTCs as well as features agreed to in the local HFA
application for tax exempt bond financing. Pages from that RFA or other applicable
applications will be included in this application submission as evidence of this
provision. If Owner successfully applies for FHFC funding after a County award,
all features and amenities must be consistent with both the County and FHFC
requirements and the proposed development costs must be within the costs
previously approved by the County.
Energy features outlined in MDC Green Code through Ordinance No. 07-65 (this
Green Building requirement is for Developments using County resources only) and
any other applicable requirements of other funding programs included in the
Applicant's submission.
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Developers are encouraged to provide laundry hook ups in each unit. However, if
individual laundry hook ups are not provided, then an on -site laundry facility for
resident use must be provided.
Resident Programs: 24 Hour Support to Assist Residents in Handling Urgent
Issues; Daily Activities; Computer Training; Assistance with Light Housekeeping,
Grocery Shopping and/or Laundry. Clubhouse with community/meeting rooms
Central Laundry Facility, Ample Parking, Gated community with "carded" entry,
Computer center (internet access, facsimile, telephone, and tenant email), and Daily
Activities.
The proposed Development must meet ALL FEDERAL AND STATE BUILDING
CODE requirements, including but not limited to the following: Federal and State
Building Code Requirements • Florida Building Code (7th Edition 2020) effective
December 31, 2021, as adopted pursuant to Section 553.503, F.S. • The Fair
Housing Act as implemented by 24 CFR 100 • Titles II and III of the Americans
with Disabilities Act of 1990 as implemented by 28 CFR 35, incorporating the most
recent amendments, regulations and rules. • For Public Housing the Uniform
Federal Accessibility Standards (UFAS).
Features for Elderly Housing Developments — Provisions required by R-617-18,
All developers, borrowers or grantees of Surtax, SHIP or HOME funds for
affordable housing shall be required to provide the following:
A kitchen on the first, second or third floor of the building that can be used to cook
food for the residents after a natural disaster; A community room on the first,
second or third floor of the development that has air conditioning where residents
can go during and after a natural disaster; A kitchen and/or community room on the
first, second or third floor of the development that has water supplied by a pump
connected to a generator during and after a natural disaster; A minimum of one
generator to operate the lights, air conditioner and other appliances in a community
room and kitchen after a natural disaster and throughout the duration of a power
outage. Such generators shall be maintained in good working order and shall be
inspected before and after a natural disaster.
d) Owner agrees that upon any violation of the provisions of this Agreement, the
County, through its agent, PHCD may give written notice thereof to the Owner, by
registered mail, at the address stated in this Agreement, or such other address or
addresses as may subsequently be designated by the Owner in writing to PHCD,
and in the event Owner does not cure such default (or take measures reasonably
satisfactory to PHCD to cure such default), within thirty (30) days after the date of
notice, or within such further time as PHCD may determine is necessary for
correction, PHCD may, without further notice, declare a default under the Mortgage
and/or this Agreement, and effective upon the date of such default, PHCD may:
al
i) Declare the whole indebtedness under the Note evidencing the Loan
immediately due and payable and then proceed with foreclosure of the
Mortgage;
ii) Apply to any court, County, State or Federal, for any specific performance
of this Agreement; for an injunction against the violation of this Agreement;
or for such relief as may be appropriate since the injury to PHCD arising
from a default remaining uncured under any of the terms of this Agreement
would be irreparable, and the amount of damage would be difficult to
ascertain.
Notwithstanding the foregoing, the County hereby agrees that any cure of
any default made or tendered by the Owner's Limited Partner, as such term
is defined in the Loan Agreement, shall be deemed to be a cure by Owner
and shall be accepted or rejected on the same basis as if made or tendered
by Owner. Copies of all notices which are sent to Owner under the terms
of this Agreement shall also be sent to the Limited Partner at its address set
forth in the Loan Agreement.
e) Owner further agrees that it will, during the term of this Agreement: furnish each
resident at the time of initial occupancy, a written notice that the rents to be charged
for the purposes and services included in the rents are approved by the County
pursuant to this Agreement; that they will maintain a file copy of such notice with
a signed acknowledgment of receipt by each resident; and, that such notices will be
made available for inspection by the County during regular business hours.
f) Owner agrees that the Units shall meet the energy efficiency standards promulgated
by the Secretary of HUD.
g) Owner agrees that all residential tenant leases of the Units shall (a) be for an initial
term of no less than one (1) year, and (b) be renewed at the end of each term except
for good cause or mutual agreement of Owner and residential tenant.
II. The County and Owner agree that Rents may increase as median income increases as
published by HUD. Any other adjustments to rents will be made only if PHCD, in its sole
and absolute discretion, finds any adjustments necessary to support the continued financial
viability of the project and only by an amount that PHCD determines is necessary to
maintain continued financial viability of the project.
Owner will provide documentation to justify a rental increase request not attributable to
increases in median income. Within thirty (30) days of receipt of such documentation,
PHCD will approve or deny, as the case may be, in its sole and absolute discretion, all or
a portion of the rental increase in excess of the amount that is directly proportional to the
most recent increase in Median Annual Income. In no event, however, will any increase
directly proportional to an increase in Median Annual Income be denied.
III. Except as otherwise noted, all parties expressly acknowledge that PHCD shall perform all
actions required to be taken by Miami -Dade County pursuant to Paragraphs IV, V, VI, VII
and VIII, hereof for the purpose of monitoring and implementing all the actions required
under this Agreement. In addition, thirty (30) days prior to the effective date of any rental
increase, the Owner shall furnish PHCD with notification provided to tenants advising
them of the increase.
IV. Occupancy Reports.
The Owner shall, on an annual basis, furnish PHCD with an occupancy report, which
provides the following information:
A) At the end date of each reporting period, a list of all occupied apartments to include
but not limited to the following:
1. Composition of each resident family,
2. Families moving into, already living in, or who have recently lived in Public
Housing; or the Section 8 Rental Certificate, Rental Voucher, or Moderate
Rehabilitation Programs,
3. Income requirements,
4. Eligibility factors, e.g. credit history, criminal background, etc.
5. Demographic information to include racial and ethnic makeup of the
tenants, and
6. Steps taken to make the Property accessible to the disabled, including but
not limited to the steps taken by the Owner to comply with all applicable laws and
regulations such as the federal, state and local fair housing laws, the Americans
with Disabilities Act and the Uniform Federal Accessibility Standards
requirements.
B) A list of all vacant apartments, as of the end date of the reporting period.
C) The total number of vacancies that occurred during the reporting period.
D) The total number of Units that were re -rented during the reporting period, stating
family size and income.
E) The Owner shall upon written request of PHCD allow representatives of PHCD to
review and copy any and all of tenant files, including but not limited to executed
leases and tenant income information.
V. Inspections
Pursuant to 42 U.S.C. § 12755, the Owner shall maintain the Property in compliance with
all applicable federal and local housing quality standards, receipt of which is acknowledged
by Owner, , including those contained in Sec. 17-1, et seq., Code of Miami -Dade County,
pertaining to minimum housing standards (collectively, "Housing Standards").
Ce,
A) PHCD shall annually inspect the Property, including all dwelling Units and
common areas, to determine if the Property is being maintained in compliance with
federal Housing Quality Standards and any applicable Miami -Dade County
Minimum Housing Codes. The Owner will be furnished a copy of the results of
the inspection within thirty (30) days, and will be given thirty (30) days from receipt
to correct any deficiencies or violations of the property standards of the Miami -
Dade County Minimum Housing Codes or Housing Standards.
B) At other times, at the request of the Owner or of any tenant, PHCD may inspect any
Unit for violations to the property standards of any applicable Miami -Dade County
Minimum Housing Codes or Housing Standards. The tenant and the Owner will
be provided with the results of the inspection and the time and method of
compliance and corrective action that must be taken.
C) The dwelling Units shall contain at least one bedroom of appropriate size for each
two persons.
VI. Lease Agreement, Selection Policy and Management Plan
Prior to initial rent -up and occupancy, the Owner will submit the following documents to
PHCD:
A) Proposed form of resident application.
B) Proposed form of occupancy agreement.
C) Applicant screening and tenant selection policies.
D) Maintenance and management plan which shall include the following
information:
1. A schedule for the performance of routine maintenance such as up -keep of
common areas, extermination services, etc.
2. A schedule for the performance of non -routine maintenance such as
painting and reconditioning of dwelling Units, painting of building
exteriors, etc.
3. A list of equipment to be provided in each dwelling Unit.
4. A proposed schedule for replacement of dwelling equipment.
5. A list of tenant services, if any, to be provided to residents.
E) At any time (monthly, quarterly, annually), the Owner agrees that the County has the right
to:
1. Evaluate and test the Waiting List Policies.
7
2. Pull records to review and assess any and all abnormalities relative to the
demographic mix.
3. Ensure fair and equal access to the Units were offered by the Owner and its
agents.
The Owner agrees that the County has the right to refer eligible applicants for housing. The Owner
shall not deny housing opportunities to eligible, qualified families, including those with Section 8
Housing Choice Vouchers, unless the Owner is able to demonstrate a good cause basis for denying
the housing as determined by PHCD in its sole and absolute discretion.
Pursuant to the Miami -Dade Board of County Commissioners' Resolution No. R-34-15, the
Developer, its agents and/or representatives, shall provide written notice to the County related to
the availability of rental opportunities, including, but not limited to, the number of available Units,
bedroom size, and rental prices of such rental Units at the start of any leasing activity, and after
issuance of certificate of occupancy. The Owner, its agents and/or representatives shall also
provide the County with the contact information for the Developer, its, agents and/or
representatives.
VII. Affirmative Marketing Plan
A) Owner shall forward to PHCD within fifteen (15) days of execution of this Agreement
an Affirmative Marketing Program for PHCD's approval which incorporates the
requirements as set forth by the County to attract and identify prospective renters or
homebuyers (as applicable), regardless of sex, of all minority and majority groups, to
the Project, particularly groups that are not likely to be aware of the Project. The
Affirmative Marketing Program should include efforts designed to make such
persons/groups aware of the available housing, including, but not limited to the
following activities:
1. Annually submit proof of advertising in a newspaper of general circulation, and
newspapers representing significant minorities and non-English speaking persons
in an effort to afford all ethnic groups the opportunity to obtain affordable housing;
and
2. The Owner shall provide proof of other special marketing efforts including
advertising Multiple Listings Service (MLS) through a licensed real estate
professional.
B) The Affirmative Marketing Program shall be submitted to PHCD for approval at least
every five (5) years and when there are significant changes in the demographics of the
project or the local housing market area.
VIII. Financial Reports
A) Annually, the Owner shall transmit to the County a certified annual operating
statement showing project income, expenses, assets, liabilities, contracts, mortgage
payments and deposits to any required reserve accounts (the "Operating Statement").
PHCD will review the Operating statement to insure conformance with all provisions
contained in this Agreement.
B) The Owner will create a reserve for maintenance to be funded $300 per Unit per
year. This reserve may be combined with reserve accounts required by any other parties
making loans to Owner and will be deemed satisfied by any deposits made by Owner in
accordance with loan documents or partnership agreement which contain a maintenance
reserve requirement of at least $300 per Unit per year.
IX. Action By or Notice to the County
Unless specifically provided otherwise herein, any action to be taken by, approvals made
by, or notices to or received by the County required by this Agreement shall be taken, made
by, given or delivered to:
County Mayor
Miami -Dade County
111 NW 1st Street, 291h Floor
Miami, Florida 33128
Attn: County Mayor
Copy to:
Miami -Dade Public Housing and Community Development
701 N.W. 1 Court
14th Floor
Miami, Florida 33136
Attn: Director
Copy to:
Miami -Dade County Attorney's Office
I I I N.W. 1 Street
Suite 2810
Miami, Florida 33128
Attn: Shannon D. Summerset-Williams, Esq.
Assistant County Attorney
or any of their successor agencies or departments.
X. Recourse:
In the event of a default by the Owner under this Agreement, Lender shall have all remedies
available to it at law and equity, after applicable notice and cure periods.
XI. Rights of Third Parties:
Except as provided herein, all conditions of the County hereunder are imposed solely and
exclusively for the benefit of the County and its successors and assigns, and no other person
shall have standing to require satisfaction of such conditions or be entitled to assume that
9
the County will make advances in the absence of strict compliance with any or all
conditions of County and no other person shall under any circumstances, be deemed to be
a beneficiary of this Agreement or the loan documents associated with this Agreement, any
provisions of which may be freely waived in whole or in part by the County at any time if,
in their sole discretion, they deem it desirable to do so. In particular, the County makes no
representations and assume no duties or obligations as to third parties concerning the
quality of the construction by the Owner of the Property or the absence therefrom of
defects.
(SIGNATURES APPEAR ON THE FOLLOWING PAGES)
10
IN WITNESS WHEREOF, County and Owner have caused this Agreement to be
executed on the date first above written.
OWNER:
VISTA BREEZE, LTD., a Florida limited
partnership
By: APC VISTA BREEZE, LLC, a Florida
limited liability company, its managing
general partner/ 1 7 ,
0
STATE OF F 1or i c1c, )
COUNTY OF m lcwy»,;u:wAe
The foregoing was sworn to, subscribed and acknowledged before me by means of [@]-pikysical
presence or [ ] online notarization, on this 221114 day of t�cy e m bef , 2023, by Kenneth
Naylor as Vice President of APC VISTA BREEZE, LLC, a Florida limited liability company,
the managing general partner of VISTA BREEZE, LTD., a Florida limited partnership, who is
personally known to me or who produced as identification.
WITNESSETH my hand and official seal in the State and County above, this 22"Iday of
l4 pg j,e , 2023.
Notary Public, 9tate of at Large
My commission expires: F Ibf % Ck.
Notary Public State of Florida
ARebeca Martinez
My Commission
HH 213601
Exp. 11412026
[Signature Page to Rental Regulatory Agreement — Surtax — Vista Breeze]
11
0m41 .
coutm m
ATTEST:
Juan Fer dez arquin, Clerk
GiN11
By:
bcpt^ E - Anthony Lava& . e302751
MIAMI-DADE COUNTY, FLORIDA
By: - -A-A-
Name: Morri N'opeland
Title: Chief Community Services Officer
4 44 liov
"�ro kc
[Signature Page to Rental Regulatory Agreement — Surtax — Vista Breeze]
12
EXHIBIT "A"
LEGAL DESCRIPTION
That leasehold estate created by that Second Amended and Restated Ground Lease, by and
between Vista Breeze, Ltd., a Florida limited partnership, and the Housing Authority of The City
of Miami Beach, a public body corporate and politic, as evidenced by that Amended and
Restated Memorandum of Lease to be recorded over the following described lands:
PARCEL l:
LOT 3,4 and 5, Block 55, OF NORMANDY GOLF COURSE, ACCORDING TO THE PLAT
THEREOF, AS RECORDED IN PLAT BOOK 44, AT PAGE 62, OF THE PUBLIC RECORDS
OF MIAMI-DADE COUNTY, FLORIDA.
PARCEL 2:
LOTS 6,7 and 8, BLOCK 56, NORMANDY GOLF COURSE SUBDIVISION, ACCORDING
TO THE PLAT THEREOF RECORDED IN PLAT BOOK 44, PAGE 62, OF THE PUBLIC
RECORDS OF MIAMI-DADE COUNTY, FLORIDA.
13
LAST PAGE
EXHIBIT "B"
RENTS:
Number
of Units
Type
AMI %
Gross Rent
Utility
Net Rent
5
OBR/ 1BA
22%
$1,498
$133
$1,365
20
OBR / IBA
30%
$1,498
$133
$1,365
64
OBR/ 1BA
60%
$1,498
$133
$1,365
30
OBR/ 1BA
80%
$1,498
$133
$1,365
119
TOTAL
At the discretion of the County, up to one hundred percent (100%) of the rental Units, per project,
may be designated for Housing Choice Voucher (Section 8) subsidy, either project -based or tenant -
based, based upon adopted County policies uniformly applied. The Owner shall not deny housing
opportunities to eligible, qualified Housing Choice Voucher (Section 8) applicants referred by the
County, unless good cause is documented by the Owner and submitted to the County.
In the event an apartment is occupied by a participant of the Section 8 Voucher Program, and the
applicable Section 8 office permits rents higher than the levels outlined above, the rents may be as
allowed by the Section 8 office.
NOTE: the above Net Rents exclude resident options such as cable TV, washers/dryers and/or
security alarm systems. If provided, these options would be at an extra charge to the residents.
Net rents are subject to change based upon annual increases in the county median income and
changes in utility costs.
LOAN DOCUMENT INFORMATION TO BE
PROVIDED FOLLOWING RECORDING OF
MORTGAGE
Mortgage Document No: Date Recorded:
Book Number: Page Number:
County: MIAMI-DADE
State: FLORIDA
# 12106709 v5