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Home My WebLink About514-2005 RDA Reso RESOLUTION NO. 514-2005 A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA) APPROPRIATING FUNDS, IN THE AMOUNT OF $136,000, FROM SOUTH POINTE REDEVELOPMENT AREA TAX INCREMENT FUNDS, IN CONNECTION WITH THE RDA'S AGREED UPON PROPORTIONATE SHARE OF COSTS ASSOCIATED WITH STREET AND LANDSCAPE IMPROVEMENTS TO ALTON ROAD, BETWEEN THIRD AND FIFTH STREETS, IN ACCORDANCE WITH THE SETTLEMENT AGREEMENT AMONGST THE CITY OF MIAMI BEACH, THE MIAMI BEACH REDEVELOPMENT AGENCY, AND WEST SIDE PARTNERS LIMITED, DATED APRIL 15, 1998. WHEREAS, in November 1995, the City of Miami Beach, the Miami Beach Redevelopment Agency and the Portofino Group entered into a Development Agreement to develop the SSDI parcels comprising the Miami Beach Marina, that was terminated in June 1997; and WHEREAS, in April, 1998, the parties entered into a Settlement Agreement ("Settlement Agreement") that transferred the deed to SSDI-North to West Side Partners, Limited and set forth the obligations of the parties with respect to the development of SSDI- North and SSDI-South parcels; and WHEREAS, West Side Partners subsequently sold the SSDI-North parcel to the Related Companies (TRG), which has constructed two high-rise residential towers, Murano Grande and ICON, in accordance with the modified Concept Plan adopted by the City Commission on April 18, 2001; and, WHEREAS, Murano Grande obtained a temporary certificate of occupancy ("TCO") in April, 2003, and ICON, in May, 2005; and WHEREAS, pursuant to the Settlement Agreement, TRG is responsible for coordinating and implementing certain local impact mitigation measures, specifically enumerated in "Exhibit C" of the Settlement Agreement; and WHEREAS, the one remaining impact mitigation measure which is in the process of being implemented by TRG, involves certain streetscape modifications to Alton Road, between Third and Fifth Streets, that were originally mandated as part of the Development Order for the Alternative Portofino DRI, in order to improve access and egress to the Marina parcels and to safely address the flow of traffic entering onto Alton Road from the MacArthur Causeway, as well as heading eastbound from Alton Road onto Fifth Street (hereinafter referred to as the "Project"); and WHEREAS, In February, 2005, following an extensive design process involving input from the public and City staff, TRG submitted plans for the proposed improvements for approval and permitting; and WHEREAS, the permit for the Project was issued on August 12, 2005, and TRG has already commenced construction of the improvements; and WHEREAS, the base cost to undertake only the improvements mandated in the Development Order, including engineering fees, is $396,000, which amount, TRG, Miami Beach Marina Associates, LTD. (MBMA) and the RDA are proposing to split equally in accordance with the terms of the Settlement Agreement; and WHEREAS, design enhancements required by the City/RDA, including, but not limited to, stamped concrete pedestrian crossings, pedestrian countdown signals, and extensive landscaping, account for additional costs, in the amount of $143,816, which the RDA is recommending to absorb due to the added public benefit involved, which includes enhanced pedestrian crosswalk safety components, and the fact that these elements fall outside of the scope specified in the Development Order; and WHEREAS, a total of $139,955 has already been dedicated towards the Project from previous appropriations, requiring an additional appropriation of $136,000 to fund the balance of the RDA's agreed upon proportionate obligation towards the Project, in accordance with the Settlement Agreement amongst the City of Miami Beach, the RDA and West Side partners, Ltd., dated April 15, 1998 NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY, that the Chairman and Members herein authorize the appropriation of $136,000, from the South Pointe Redevelopment Area Tax Increment Funds, in connection with the RDA's agreed upon proportionate share of costs associated with street and landscape improvements to Alton Road, between Third and Fifth Streets, in accordance with the Settlement Agreement amongst the City of Miami Beach, the Miami Beach Redevelopment Agency and West Side Partners, Limited, dated April 15, 1998. PASSED and ADOPTED this 8th da~p1 September ,2005 ATTEST: ~K r~~ SECRETARY Robert Parcher T:\AGENDA\2005\Sept 08\RDA\~'M'_' '''_''''"",''''A' APPROVED AS TO FORM & LANGUAGE & FOR EXECUTION ~(~ Redev~ Date Gen8I'aI CounIeI . MIAMI BEACH REDEVELOPMENT AGENCY AGENDA ITEM SUMMARY m Condensed Title: A Resolution appropriating funds in the amount of $136,000 from South Pointe Tax Increment Funds, to fund the RDA's agreed upon proportionate share of costs associated with street and landscape improvements to Alton Road, between Third and Fifth Streets, in accordance with the Settlement Agreement amongst the City of Miami Beach, the Miami Beach Redevelopment Agency, and West Side Partners Ltd., dated April 15, 1998, Issue: Should the Chair and Board approve the appropriation requested for the costs required pursuant to the settlement agreement between the City of Miami Beach, the Miami Beach Redevelopment Agency and West Side Partners? Item Summary/Recommendation: The Administration recommends appropriating $136,000 from South Pointe Tax Increment Funds in order to fund the balance of the RDA's share of street and landscape improvements to Alton Road, between Third and Fifth Streets, to be undertaken by the Related Companies (TRG), in accordance with the above- referenced Settlement AQreement. Advisory Board Recommendation: I N/A Financial Information: Finance Dept. Source of Funds: South Pointe TIF $136,000 AGENDA ITEM 38 9-r-rA DATE CITY OF MIAMI BEACH CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139 www,miamibeachfl.gov To: From: MIAMI BEACH REDEVELOPMENT AGENCY MEMORANDUM Chairman and Members of the Miami Beach Redevelopment Agency Jorge M. Gonzalez J ~ Y Executive Director () Date: September 8, 2005 A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA) APPROPRIATING FUNDS, IN THE AMOUNT OF $136,000 FROM SOUTH POINTE TAX INCREMENT FUNDS, IN CONNECTION WITH THE 'RDA'S AGREED UPON PROPORTIONATE SHARE OF COSTS ASSOCIATED WITH STREET AND LANDSCAPE IMPROVEMENTS TO ALTON ROAD, BETWEEN THIRD AND FIFTH STREETS, IN ACCORDANCE WITH THE SETTLEMENT AGREEMENT AMONGST THE CITY OF MIAMI BEACH, THE MIAMI BEACH REDEVELOPMENT AGENCY, AND WEST SIDE PARTNERS LIMITED, DATED APRIL 15, 1998. ADMINISTRATION RECOMMENDATION Subject: Adopt the resolution. ANAL YSIS In November 1995, the City of Miami Beach, the Miami Beach Redevelopment Agency and the Portofino Group entered into a Development Agreement to develop the parcels comprising the Miami Beach Marina. The Agreement was terminated in June, 1997. In April, 1998, the parties entered into a Settlement Agreement that transferred the deed to SSDI-North to West Side Partners, Ltd., and sets forth the obligations of the parties with respect to the Development of SSDI-North and SSDI-South parcels. West Side Partners subsequently sold the SSDI-North parcel to the Developer, the Related Companies (TRG), which has proceeded to build two high-rise residential towers, Murano Grande and ICON, in accordance with the modified concept plan adopted by the City Commission on April 18, 2001, Murano Grande obtained a temporary certificate of occupancy (TeO) in April, 2003 and ICON, in May, 2005. Pursuant to the Settlement Agreement, TRG is responsible for coordinating and implementing certain local impact mitigation measures, specifically enumerated in "Exhibit C" of the Settlement Agreement. All but one of these measures has been completed by the Developer. The remaining item involves certain streetscape modifications to Alton Road, between Third and Fifth Streets, that were originally mandated as part of the Development Order for the Alternative Portofino DRI in order to improve access and egress to the Marina parcels and to safely address the flow of traffic entering onto Alton Road from the MacArthur Causeway as well as heading eastbound from Alton Road onto Fifth Street. Specifically, the Development Order called for the following elements: September 8, 2005 Miami Beach Redevelopment Agency Alton Road Improvements Page 2 (a) an eastbound right turn-lane on Fifth Street at the Alton Road intersection; (b) dual northbound left-turn lanes on Alton Road at the Fifth Street intersection; and (c) modification of the signalization at the Fifth Street/Alton Road intersection to compliment turn lanes noted in (a) and (b) above. In February, 2005, following an extensive design process involving input from the public and City staff, TRG submitted plans for the proposed improvements for approval and permitting. The Permit was issued on August 12, 2005, and work has already commenced on the Project. The base cost to only undertake the DRI-mandated improvements, including engineering fees is $396,000, which amount, the Developer, Miami Beach Marina Associates, LTD., (MBMA) and the RDA are proposing to split equally in accordance with the terms of the Settlement Agreement. Design enhancements required by the City, including, but not limited to, stamped concrete pedestrian crossings, pedestrian countdown signals and extensive landscaping, account for an additional $143,816, which the RDA is recommending to absorb due to the added public benefit involved, which includes enhanced pedestrian crosswalk safety components, and the fact that these elements fall outside of the scope specified in the Development Order. A breakdown of the Project's costs is as follows: Alton Road Pro"ect Costs: Total Cost TRG MBMA RDA Alton Road reali nment $344,580 $114,860 $114,860 $114,860 K&H En ineerin 51,500 17,167 17,167 17,167 Sub-Total - DRI Base Costs: $396,080 $132,027 $132,027 $132,027 Stamped concrete pedestrian crossing Alton & 5th St East/West 8,694 8,694 Stamped concrete pedestrian crossing Alton & 3rd St / Alton & 4th St 8,168 8,168 Stamped concrete pedestrian crossing Alton & 3rd St / Alton & 3rd St 8,829 8,829 Stamped concrete pedestrian crossing Alton & 5th St - North/South 16,740 16,740 Pedestrian countdown signal @ Alton & 5th St 960 960 Landsca in 31 ,250 31 ,250 Addt'1 median 1,275 1,275 Sidewalk re air 4 &5 Streets 8,400 8,400 Irrigation installation, including electricity allowance 50,000 50,000 Irri ation connection 6,000 6,000 Addt' I Engineering - landscaping & irri ation 3,500 3,500 Sub-Total- Design Enhancements: $143,816 $143,816 Total Pro'ect Costs: $539,896 $275,843 September 8, 2005 Miami Beach Redevelopment Agency Alton Road Improvements Page 3 RECOMMENDATION A total of $139,955 remains in the RDA's Portofino Settlement account, specifically dedicated for the RDA's share of the Alton Road Project. As such, the Administration recommends appropriating an additional $136,000 from South Pointe Tax Increment Funds, in order to fund the balance of the RDA's obligations towards the Project, in accordance with the Settlement Agreement amongst the City of Miami Beach, the RDA and West Side partners, Ltd., dated April 15, 1998. JMGrrH/K~ T:\AGENDA\200~~pfo8\RDA\Alton Rd Mem,doc