545-2007 RDA Reso
RESOLUTION NO. 545-2007
A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF
THE MIAMI BEACH REDEVELOPMENT AGENCY (RDA)
APPROVING AND AUTHORIZING AN APPROPRIATION OF
$13,650,000 FROM CITY CENTER/HISTORIC CONVENTION
VILLAGE (CITY CENTER) REDEVELOPMENT AGENCY NON-
TIF FUNDS, TO MIAMI BEACH COMMUNITY DEVELOPMENT
CORPORATION (MBCDC), A NOT FOR PROFIT COMMUNITY
DEVELOPMENT CORPORATION, FOR THE PURPOSE OF
PROVIDING FUNDS TO MBCDC FOR 1) THE BALANCE DUE
IN CONNECTION WITH MBCDC'S PROPOSED PURCHASE
OF THE FOLLOWING THREE PROPERTIES LOCATED
WITHIN THE CITY CENTER RDA: 1940 PARK AVENUE; 1965-
1975 WASHINGTON AVENUE; AND 2001 WASHINGTON
AVENUE (HEREINAFTER REFERRED TO AS "THE
PROPERTIES"), IN THE AMOUNT OF $13,200,000; 2)
ESTIMATED CLOSING COSTS IN CONNECTION WITH THE
AFORESTATED PROPOSED PURCHASE, IN THE AMOUNT
OF $200,000; AND 3) ESTIMATED FUNDING REQUIRED TO
OFFSET THE CARRYING COSTS OF THE PROPERTIES
FOR A PERIOD OF ONE YEAR OR UNTIL SUCH TIME THAT
MBCDC IS ABLE TO SECURE ADDITIONAL FUNDING TO
CARRY AND BEGIN RENOVATING THE PROPERTIES; AND
FUTHER, APPROVING THE PROPOSED TERMS AND
CONDITIONS FOR A PROPOSED MORTGAGE AGREEMENT
BETWEEN THE RDA AND MBCDC, GOVERNING THE USE
OF ALL FUNDING APPROPRIATED IN CONNECTION WITH
THE PROPOSED PURCHASE OF THE PROPERTIES, WHICH
ARE TO BE RESTORED, RENOVATED, OPERATED AND
MAINTAINED BY MBCDC FOR THE EXPRESS PURPOSE OF
1) PRESERVING THESE HISTORIC STRUCTURES WITHIN
THE CITY CENTER RDA, AND 2) MAINTAINING THE
PROPERTIES AS AFFORDABLE HOUSING FOR LOW TO
MODERATE INCOME INDIVIDUALS; AS PROVIDED FOR IN,
AND IN CONFORMANCE WITH THE PROVISIONS OF THE
CITY CENTER/HISTORIC CONVENTION VILLAGE
REDEVELOPMENT AND REVITALIZATION AREA PLAN.
WHEREAS, Miami Beach Community Development Corporation (MBCDC), a not
for profit housing corporation and the City of Miami Beach's designated Community
Housing Development Organization (CHDO), has contracted to purchase three (3)
apartment buildings, located within the City Center/Historic Convention Village
Redevelopment Area (City Center RDA), and has requested that the RDA assist with
funding for its acquisition and rehabilitation of said buildings; and
WHEREAS, the three buildings are: the Barclay Hotel, located at 1940 Park
Avenue; the Allen, located at 2001 Washington Avenue; and the London House, located
at 1965-1975 Washington Avenue (the Properties); and
WHEREAS, the Properties are contributing historic significant structures which
have fallen into a state of disrepair; and
WHEREAS, pursuant to the City Center/Historic Convention Village
Redevelopment and Revitalization Area Plan, as adopted by the City Commission and
the Miami Beach Redevelopment Agency, respectively, on February 12, 1993, and as
approved by the Miami-Dade County Board of County Commissioners on March 20,
1993 (the Plan), one of the primary Plan objectives in promoting redevelopment and
revitalization in the City Center RDA allows for the renovation and preservation of
historically designated structures; and
WHEREAS, additionally, the Plan, as required by Section 163.362, Florida
Statutes (the Community Redevelopment Act of 1969), contains an analysis of impacts
of redevelopment activity (ies) upon residents within the City Center RDA; and
WHEREAS, the Plan states that the City Center RDA contains a number of low
and moderate income, and contemplated that, as the City Center area revitalized, rents
would increase, which would force low and moderate income residents within the area
to relocate; and
WHEREAS the Plan provides that, as the City Center RDA revitalizes, the City
and the RDA would continue to create affordable housing opportunities, both within and
outside the City Center RDA, to minimize the loss of affordable housing within the area;
and
WHEREAS, the City of Miami Beach's various affordable housing programs, as
set forth in the City's Five Year Consolidated Plan, address the City's affordable
housing needs throughout the City, through the allocation of various federal, State, and
local funding programs; nevertheless, as has increasingly been the case each year, cut-
backs in the available programs and funding services have resulted in domestic
reductions to available affordable housing resources, while needs, particularly for low to
moderate income individuals and families, have been disproportionately increasing; and
WHEREAS, MBCDC's proposed purchase of the aforestated Properties has
presented the RDA with a unique opportunity: the commitment of RDA funding to the
proposed project would be consistent with and satisfy one of the Plan objectives of
restoring and preserving historically contributing properties within the City Center RDA;
and, as importantly (if not more so), the proposed project presents an opportunity to
maintain (and, in effect, also create new), affordable housing opportunities for low to
moderate income residents within the City Center RDA, thereby satisfying another Plan
objective of continuing to minimize and mitigate the loss of such affordable housing
within the area; and
WHEREAS, the contract purchase price for (all three) Properties is $13,700,000,
or $194 per square foot, which is consistent with the updated appraisal valuations
obtained by MBCDC for the Properties; and
WHEREAS, upon execution of the purchase and sale agreement for said
Properties, MBCDC was required to provide an initial deposit, in the amount of
$100,000, with an additional $400,000 deposit on January 31, 2007, (the Deposits);
and
WHEREAS, on December 21, 2006, the Finance and Citywide Projects
Committee (Finance Committee) considered a request by MBCDC to fund these
Deposits in advance of the anticipated closing date, which is schedule for April 1, 2007;
and
WHEREAS, on January 17, 2007, in accordance with the recommendations of
the Finance and Citywide Projects Committee, the RDA Board authorized an initial
appropriation of $500,000 from City Center RDA funds, to reimburse MBCDC for the
Deposits; and
WHEREAS, the RDA approved the appropriation for the Deposits with the
express condition that MBCDC warrant and represent to the RDA, in writing, that, in the
event that MBCDC does not, or is otherwise unable to, close on the aforestated
Properties, then it shall reimburse the RDA said Deposits in full; and
WHEREAS, at the request of the Administration, MBCDC has commissioned
updated appraisals and engineering reports (including structural, mechanical, electrical
and plumbing analyses), and has prepared detailed. cost estimates and financial pro-
formas; and
WHEREAS, on March 8, 2007, the Finance Committee considered a request
from MBCDC to fund the balance of the purchase price, in the amount of $13,200,000;
closings costs, in the amount of $200,000; and a separate allocation, in the amount off
$250,000, to offset the estimated cost to carry the Properties for a period of one year, or
until such time as MBCDC is able to secure additional funding to carry and begin
renovating the Properties; and
WHEREAS, since MBCDC's capacity to secure grant funding for rehabilitation
costs may be subject to subordinating a portion of the RDA's interest (which will be
secured by a mortgage or mortgages) in the Properties, the Administration is
recommending that any request for a subordination of the RDA's position would be
subject to review, on a case-by-case basis, and approval by the RDA Board and/or the
Executive Director; and
WHEREAS, other substantive terms for the proposed transaction, which will
either be included as provisions in the aforestated mortgage agreements and/or through
Covenants Running with the Land, shall include, but not be limited to, the following:
· an affordability period of at least thirty (30) years (requiring MBCDC to maintain
the Properties as affordable housing, subject to guidelines established by the
City and the RDA), as well as referral rights to the rehabilitated units;
· in the event that MBCDC does not comply with the affordability requirement,
such non-compliance shall trigger repayment of the RDA's funds; otherwise in
the event of an uncured default, the Properties may revert to the RDA;
· the mortgage encumbering The Allen shall contain a provision, which would
enable MBCDC to sell this property within twenty four (24) months following
closing, subject to certain review rights by the RDA and repayment of the
mortgage and any carrying costs funded by the RDA;
· at the end of the affordability period, the Properties will revert to the RDA, its
successors or assigns; in the alternative, the RDA (its successors or assigns), at
its sole option and discretion, may continue to allow MBCDC to hold title to the
Properties under a new affordability period (the intent being that the Properties
continue to serve as affordable housing);
. the parties are currently discussing an arrangement whereby, in lieu of mortgage
payments from MBCDC, the RDA shall have the ability to direct the use of any
program income generated from the Properties on an annual basis; and
WHEREAS, accordingly, on March 8, 2007, the Finance Committee voted to
recommend full funding for the balance of the purchase price and estimated closing
costs for the Properties, in the amount of $13,400,000, as well as the estimated carrying
costs, in the amount of $250,000, subject to and conditioned upon the terms and
conditions of the proposed mortgage agreements and/or Covenants Running With the
Land.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE CHAIRMAN AND
MEMBERS OF THE REDEVELOPMENT AGENCY OF THE CITY OF MIAMI BEACH,
FLORIDA, that the Chairman and Members of the RDA hereby approve and authorize
an appropriation of $13,650,000 from City Center/Historic Convention Village (City
Center) Redevelopment Agency non-TIF funds, to Miami Beach Community
Development Corporation (MBCDC), for the purpose of providing funds to MBCDC for
1) the balance due in connection with MBCDC's proposed purchase of the following
three properties located within the City Center RDA: 1940 Park Avenue; 1965-1975
Washington Avenue; and 2001 Washington Avenue, (hereinafter referred to as "the
Properties"), in the amount of $13,200,000; 2) estimated closing costs in connection
with the aforestated proposed purchase, in the amount of $200,000; and 3) estimated
funding required to offset the carrying cost of the Properties for a period of one year, or
such time as MBCDC is able to secure additional funding to carry and begin renovating
the Properties; and further, approving the terms and conditions for a proposed mortgage
agreement between the RDA and MBCDC (as conceptually set forth in the resolution),
governing the use of all funding appropriated in connection with the proposed purchase
of the Properties, which are to be restored, renovated, operated and maintained by
MBCDC for the express purpose of 1) preserving these historic structures within the
City Center RDA, and 2) maintaining the Properties as affordable housing for low to
moderate income individuals; as provided for in, and conformance with, the provisions
of the City Center/Historic Convention Village Redevelopment and Revitalization Area
Plan.
PASSED and ADOPTED this 14th day of March ,2007.
ATTEST:
~\t ~CIA~
SECRETARY
Robert Parcher
VIC~~~~ -
., APPROVED AS TO
Mlchael Gongora r=ORM & LANGUAGE
& FOR EXECUTION
T:IAGENDA\2007\MARCH 14\RoA\RDA WASHINGTON AVE HOUSING RESO.OOC
MIAMI BEACH REDEVELOPMENT AGENCY ITEM SUMMARY
Condensed Title:
A Resolution authorizing an initial appropriating of $13,650,000 from City Center RDA non-TIF funds, to Miami Beach Community
Development Corporation (MBCDC), for the purpose of providing funds to MBCDC for A) the balance due in connection with
MBCDC's proposed purchase of three properties located at 1940 Park Avenue, 1965-1975 Washington Avenue and 2001
Washington Avenue (the Properties), in the amount of $13,200,000, B) estimated closing costs in connection with the proposed
purchase, in the amount of $200,000, and C) estimated funding required to offset the carrying costs of the properties for a period
of one year, or until such time that MBCDC is able to secure additional funding to carry and begin renovating the properties, in
the amount of $250,000; and further, approving the proposed terms and conditions for a proposed Mortgage Agreement
between the RDA and MBCDC, governing the use of all funding appropriated in connection with the proposed purchase of the
Properties bv MBCDC.
Ke Intended Outcome Su orted:
Increase access to workforce or affordable housing; reduce the number of homeless
Issue:
Shall the Chairman and Members of the Redevelopment Agency of the City of Miami Beach, Florida, authorize an appropriation
in the amount of $13,650,000 in connection with the above referenced ro erties b MBCDC?
Item Summary/Recommendation:
MBCDC has entered into a contract agreement to purchase three apartment buildings located in the City Center area and is
requesting for the RDA to assist in their acquisition. The three buildings include the Barclay Hotel, located at 1940 Park Avenue,
The Allen, located at 2001 Washington Avenue and the London House, located at 1965-1975 Washington Avenue. The City
Center Redevelopment Plan provides for the acquisition of properties within the district to allow for rehabilitation and economic
reuse as well as preservation of historically designated structures. Since all three properties are listed as contributing historic
buildings, they are eligible for acquisition under the Plan. The acquisition of these buildings also provides the opportunity to
partner with MBCDC to leverage state and federal funds to rehabilitate the properties as affordable housing, which is also
consistent with the Plan.
On January 17, 2007, the RDA, (pursuant to the December 21,2006, recommendation ofthe Finance Committee), authorized
an initial appropriation of $500,000 to cover MBCDC's deposit requirements; directed the Administration to obtain updated
appraisal and engineering reports, as well as detailed proformas related to the proposed purchase and operation of the
properties; and further, authorized Staff to begin negotiating a Mortgage Agreement with MBCDC, which would go towards
securing an additional appropriation from the RDA for the balance of the purchase price plus related closing costs. On March 8,
2007, following a presentation of the updated report information, as well as the proposed terms and conditions, governing
MBCDC's operation of the properties, the Finance Committee recommended appropriating the balance ofthe required purchase
price plus the estimated closing costs, in the amount of $13,400,000, and estimated funding, in the amount of $250,000, to carry
the properties for a period of one year, or until such time that MBCDC is able to secure additional funding to carry and begin
renovatinQ the properties.
Financial Information:
Source of "Funds:
W Amount Account Approved
1 $13,650,000 City Center RDA
I Total $13,650,000
Financial Impact Summary: Total funding required for purchase of these properties, as well as the related closing
and carrying costs for the first year is $14,150,000, of which $500,000 was appropriated on January 17, 2007. Funding shall
be appropriated from non-TIF sources.
Ci Clerk's Office Le islative Trackin
Kent O. Bonde, Ext #6363
Si n-Offs:
Redevelopment Coordinator
Assistant Director
Executive Director
TH/H F
JMG
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MIAMI BEACH
AGENDA ITEM
DATE
lD
MIAMI BEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www,miamibeachfl.gov
REDEVELOPMENT AGENCY MEMORANDUM
FROM:
Chairman and Members of the Miami Beach Redevelopment Agency
Jorge M. Gonzalez, Executive Director W
March 14, 2007 0 U
TO:
DATE:
SUBJECT: A RESOLUTION OF THE CHAIRMAN AND MEMBERS OF THE MIAMI BEACH
REDEVELOPMENT AGENCY (RDA) APPROVING AND AUTHORIZING AN
APPROPRIATION OF $13,650,000 FROM CITY CENTER/HISTORIC
CONVENTION VILLAGE (CITY CENTER) REDEVELOPMENT AGENCY NON-
TIF FUNDS, TO MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION
(MBCDC), A NOT FOR PROFIT COMMUNITY DEVELOPMENT CORPORATION,
FOR THE PURPOSE OF PROVIDING FUNDS TO MBCDC FOR 1) THE
BALANCE DUE IN CONNECTION WITH MBCDC'S PROPOSED PURCHASE OF
THE FOLLOWING THREE PROPERTIES LOCATED WITHIN THE CITY
CENTER RDA: 1940 PARK AVENUE; 1965-1975 WASHINGTON AVENUE;
AND 2001 WASHINGTON AVENUE (HEREINAFTER REFERRED TO AS "THE
PROPERTIES"), IN THE AMOUNT OF $13,200,000; 2) ESTIMATED CLOSING
COSTS IN CONNECTION WITH THE AFORESTATED PROPOSED PURCHASE,
IN THE AMOUNT OF $200,000; AND 3) ESTIMATED FUNDING REQUIRED TO
OFFSET THE CARRYING COSTS OF THE PROPERTIES FOR A PERIOD OF
ONE YEAR OR UNTIL SUCH TIME THAT MBCDC IS ABLE TO SECURE
ADDITIONAL FUNDING TO CARRY AND BEGIN RENOVATING THE
PROPERTIES, IN THE AMOUNT OF $250,000; AND FURTHER, APPROVING
THE PROPOSED TERMS AND CONDITIONS FOR A PROPOSED MORTGAGE
AGREEMENT BETWEEN THE RDA AND MBCDC, GOVERNING THE USE OF
ALL FUNDING APPROPRIATED IN CONNECTION WITH THE PROPOSED
PURCHASE OF THE PROPERTIES, WHICH ARE TO BE RESTORED,
RENOVATED, OPERATED AND MAINTAINED BY MBCDC FOR THE EXPRESS
PURPOSE OF 1) PRESERVING THESE HISTORIC STRUCTURES WITHIN THE
CITY CENTER RDA, AND 2) MAINTAINING THE PROPERTIES AS
AFFORDABLE HOUSING FOR LOW TO MODERATE INCOME INDIVIDUALS;
AS PROVIDED FOR IN, AND IN CONFORMANCE WITH THE PROVISIONS OF
THE CITY CENTER/HISTORIC CONVENTION VILLAGE REDEVELOPMENT
AND REVITALIZATION AREA PLAN.
ADMINISTRATION RECOMMENDATION
Adopt the resolution.
ANAL YSIS
Following the discussion at the October 25, 2006, Finance and Citywide Projects Committee
meeting, regarding the use of City Center/Historic Convention Village (City Center) RDA
funding to assist in the acquisition and rehabilitation of buildings within the City Center RDA,
to continue to provide affordable housing opportunities for low-moderate income residents,
Miami Beach Redevelopment Agency Memorandum
March 14, 2007
City Center Property Acquisition
Page 2 of 5
the Miami Beach Community Development Corporation, (MBCDC) has contracted to
purchase three apartment buildings located in the City Center RDA and has requested
funding assistance from the RDA. The three buildings are the Barclay Hotel, located at 1940
Park Avenue; The Allen, located at 2001 Washington Avenue; and the London House,
located at 1965-1975 Washington Avenue. The contract purchase price for all three
properties is $13,700,000, or $194 per square foot of building space, which compares
favorably with the attached updated appraisal valuations for each of the properties, that
reflect a combined market value of $13,900,000, or $196 per square foot of building space.
A matrix reflecting the results of the appraisals is attached.
On December 21,2006, Staff reported back to the Finance Committee, advising that the
Purchase and Sale Agreement required an initial deposit of $100,000 upon execution,
(which had already been paid for by MBCDC), and an additional $400,000 deposit that
would be required on January 31, 2007. MBCDC requested that the RDA pay these deposit
amounts in advance of the anticipated closing date, which is scheduled for April 1, 2007. In
order to comply with this time frame and secure the purchase of the buildings, the
Committee concurred with Staffs recommendation for an initial appropriation of $500,000
from City Center RDA funds, to reimburse MBCDC for the initial deposit as well as for
payment of the second deposit (as noted-above), with the express condition that, in the
event that MBCDC does not, or is otherwise unable to close on the properties, then it shall
reimburse the RDA the deposit monies in full. To this end, both MBCDC and the Seller
executed an Amendment to the Purchase and Sale Agreement, agreeing to these
reimbursement provisions. Staff further recommended authorizing the Administration to
negotiate a Mortgage Agreement with MBCDC, for the further appropriation of funding from
the RDA for the balance of the purchase price, plus related closing costs, as well as provide
terms and conditions obligating MBCDC to designate and maintain an agreed number of
units within the properties as affordable rental housing for low to moderate income residents,
in accordance with such guidelines and criteria as shall be determined by the RDA, the City,
and MBCDC. On January 17'h, 2007, in accordance with the recommendations of the
Finance Committee, the RDA appropriated $500,000 in order to fund the initial deposit
requirements.
Since this time and at the request of Staff, MBCDC has commissioned updated appraisals
and engineering reports (including structural, mechanical, electrical and plumbing analyses),
and has prepared detailed cost estimates and financial proformas, assuming two different
rehabilitation scenarios. The first scenario would keep the number of units in each of the
buildings as-is, and the second scenario would reduce the unit count to reflect the inclusion
of one, two and/or three-bedroom units.
It should be noted that in addition to the required balance of the purchase price, totaling
$13,200,000, MBCDC is also seeking assistance with the closing costs, currently estimated
at approximately $200,000, which amount includes, but is not limited to, the cost of updating
the appraisals and engineering reports, as well as the cost to initiate architectural and
design work related to the rehabilitation of the buildings. A breakdown of the estimated
closing costs is included with this memorandum.
The Properties
Based on information provided in the appraisals, the Barclay Hotel was constructed in 1935,
on a 26,250 square foot site, containing 66 efficiency units, averaging 267 square feet in
size. The Allen was built in 1940, on a 9,625 square foot parcel, containing 42 units with an
average size of 255 square feet. The London House was built in 1949, on a 12,073 square
Miami Beach Redevelopment Agency Memorandum
March 14, 2007
City Center Property Acquisition
Page 3 of 5
foot site, containing 54 units, averaging 252 square feet in size. Both the Barclay and the
London House are currently occupied as low-income rental housing. Since the Barclay's
rental population is primarily comprised of elderly residents, MBCDC anticipates being able
to initiate the process to qualify the building for affordable housing assistance under the
existing guidelines. The Allen is vacant and boarded up.
Based on the updated engineering inspection reports obtained by MBCDC, the buildings
appear to be in fair condition. Some degree of concrete rebar spalling was observed in the
basement areas of all three buildings, which is not uncommon in structures of this age and
location. The plumbing and electrical systems in the buildings are widely deteriorated and
will need to be replaced to Code. Phase I and II Environmental and asbestos surveys, also
obtained by MBCDC, reflected some instances of asbestos and lead-based paint, requiring
minimal abatement. Based on the attached engineering report summaries, the estimated
cost to address the conditions in each of the buildings is as follows:
The
London Price per
Trade The Barclay House The Allen Total Square Foot
Structural $2,587,500 $2,113,000 $1,293,750 $5,994,250 $ 91.00
Electrical $ 430,000 $ 175,125 $ 250,000 $ 855,125 $ 13.00
Mechanical $ 277,000 $ 183,750 $ 170,500 $ 631,250 $ 10.00
Plumbinq $ 562,500 $ 459,375 $ 281,250 $1,303,125 $ 20.00
Total $3,857,000 $2,931,250 $1,995,500 $8,783,750 $134.00
For the purpose of its project cost estimates, MBCDC has used a rehabilitation cost of $175
per square foot, which factors in contingency and any unforeseen issues. Based on
MBCDC's experience with comparable buildings, it anticipates that the actual cost may be
somewhat lower than projected. The following is summary of the attached cost estimate
scenarios prepared by MBCDC:
The London
Project Cost Estimates The Barclay House The Allen Total
Purchase Price $ 5,668,000 $4,582,000 $3,450,000 $13,700.000
Rehab Cost @ 175/sqft $ 5,814,200 $3,488,450 $3,087,175 $12,389,825
Soft Costs $ 1,635,503 $ 875,549 $ 815,357 $ 3,326,409
Contingency @ 5% $ 200,000 $ 160,000 $ 160,000 $ 520,000
Total Project Cost $13,317,703 $9,105,999 $7,512,532 $29,936,234
Total Cost per sqft $401 $457 $426 $423
Total Cost per unit (as-is # units) $202,000 $165,563 $179,000 $183,657
(66 Studios) (51 studios; 4 (42 Studios) (Total 163 units)
1-BR: Total 55
units)
Total Cost per unit (reduced # units) $403,000 $293,741 $326,608 $344,095
(8-studios; 17- (6-studios; 22- (8-studios; 10- (Total 87 units)
1 BR; 6- 2BR; 1 BR; 3- 2BR; 1 BR; 5- 2BR;
2-3BR; Total 33 Total 31 units) Total 23 units)
units)
Miami Beach Redevelopment Agency Memorandum
March 14, 2007
City Center Property Acquisition
Page 4 of 5
Based on MBCOC's projections, the overall cost of rehabilitation is the same regardless of
whether the unit counts remain the same or are reduced to accommodate a mix of varying
unit sizes. It should be noted that based on the reduced unit count scenario for each of the
buildings, the per-unit cost of rehabilitation significantly increases, from $183,657 per unit to
$344,095 per unit, an increase of almost 87%. However, during the March 8,2007, Finance
Committee Meeting, it was pointed out that based on the estimated number of people that
could be served under the two scenarios, the per-capita cost per person would actually be
less under the reduced unit scenario, than if the buildings were left in their current
configuration. In essence, the larger units would be able to accommodate more people.
MBCOC pointed out that while grant funding applications typically penalize projects with
higher per-unit costs, recently they have also seen funding programs that provide a higher
ranking to projects with larger unit sizes. The Committee recommended that, to the extent
grant funding was available, MBCOC should be encouraged to explore options for
configuring the buildings with larger units.
As noted earlier, MBCOC anticipates moving forward in qualifying the Barclay's residents
for funding assistance and, as funding becomes available for rehabilitation of the units, to
schedule the renovation of the Barclay and the London House, so as to minimally impact
the buildings' residents. Accordingly, MBCOC also anticipates leaving the Allen vacant until
such time that they are able to obtain rehabilitation funding.
Since MBCOC does not anticipate being able to receive all of the grant funding to open the
Allen or to begin rehabilitating the buildings in the first year, it anticipates carrying costs
during the first year in the amount $741,885. Based on the attached Sources and Uses of
Funds Schedule, MBCOC anticipates being able to partially offset these costs by collecting
rent from the Barclay and the London House in the amount of $603,650, leaving an
estimated unfunded balance of at least $138,235. Staff recommends appropriating a not to
exceed amount of $250,000, to address anticipated as well as any unforeseen costs
associated with carrying the properties for a period of one year, or until such time that
MBCOC is able to secure additional funding sources to carry and begin renovating the
properties.
The Finance Committee inquired as to whether there was a provision for repayment of the
ROA's funds. The City Manager advised that based on the proformas submitted by MBCOC,
none of the properties would be able to generate sufficient income to cover the estimated
debt service required to repay the ROA. However, it was pointed out that the ROA's
contribution was anticipated to leverage an estimated $13 Million in matching grant monies
for the rehabilitation of the buildings. Additionally, in recognition that program income is not
sufficient to carry additional debt, the Parties are currently discussing an arrangement
whereby the Administration shall have the ability to direct and approve the use of any
program income generated from the properties on an annual basis.
Proposed Mortgage Agreement
As indicated earlier, the Administration is in the process of negotiating terms for a proposed
Mortgage Agreement between the ROA and MBCOC, for the full amount of the purchase
price, the estimated closing costs and the carrying costs, totaling $14,150,000. Since
MBCOC's capacity to secure grant funding for rehabilitation costs may be subject to
subordinating a portion of the ROA's ownership position in the properties, the Administration
is recommending to title the properties separately with three separate mortgage agreements,
so as not to encumber all three properties with potential subordination requirements by grant
providers. Any subordination of the ROA's position would be subject to review on a case-by-
Miami Beach Redevelopment Agency Memorandum
March 14, 2007
City Center Property Acquisition
Page 5 of 5
case basis and approval by the ROA Board and/or the Executive Director.
Other substantive terms for the subject transaction, which will either be included as
provisions in the aforestated mortgage agreements and/or through covenants running with
the land, include the following:
· an affordability period of at least thirty (30) years (requiring MBCOC to maintain the
properties as affordable housing, subject to guidelines established by the City and
the ROA), as well as referral rights to the rehabilitated units;
· in the event that MBCOC does not comply with the affordability requirement, such
non-compliance shall trigger repayment of the ROA's funds, and, the properties may
also revert to the ROA, its successors or assigns;
· the mortgage encumbering The Allen shall contain a provision, which is still being
discussed, which would enable the sale of this property within twenty four (24)
months following closing, subject to certain review rights by the ROA and the City
and repayment of the mortgage and any carrying costs funded by the ROA (no
reverter within the first twenty four (24) months);
· at the end of the affordability period, the properties will either revert to the ROA, its
successors or assigns; OR, the ROA, its successors or assigns, at its sole option,
and discretion, may continue to allow MBCOC to hold title to the properties under a
new affordability period (the intent being that the properties continue to serve as
affordable housing);
· as noted previously, the Administration shall have the ability to direct and approve
the use of any program income generated from the properties on an annual basis.
Finance and Citywide Projects Committee Recommendation
Based on the foregoing information and discussion of same at the March 8, 2007, Finance
Committee Meeting, the Committee recommended unanimously to provide the necessary
funding for MBCOC to proceed with the acquisition of the properties, and further
recommended appropriating the necessary funding for the balance of the acquisition costs,
plus estimated closing costs, in a not to exceed amount of $13,400,000, and estimated
carrying costs in a not to exceed amount of $250,000.
JMG/HF/KOB
Attachments:
Appraisal matrix
Engineering report summaries
Rehabilitation cost projections
Closing cost summary
Carrying cost summary
Projected population serviced
Proformas
T:\AGENDA\2007\rnar1407\RDA\RDA Washington Ave Housing memo1.doc
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BUYER CLOSING COSTS STATEMENT
BUYER:
MIAMI BEACH COMMUNITY DEVELOPMENT
CORPORATION, INC.
SELLER:
2001 WASHINGTON AVENUE, INC., 1940 PARK AVENUE, INC., AND
1975 WASHINGTON A VENUE, INC.
PROPERTY:
2001 WASHINGTON AVENUE, 1940 PARK AVENUE, 1965
WASHINGTON AVENUE, AND 1975 WASHINGTON AVENUE
CLOSING DATE:
April 30, 2007
Credits Buver
Credits Seller
r-;UR~-~~SE PRICE ..
I DEPOSI;--- ------- - n_______
I
- ------ -- -- --- - - -.-- - -- ---- -1-
$500,000.00 i
$13,700,000.00
r
.---- r
PRORATION OF 2007 REAL ESTATE
TAXES FOLIO NO. 0232340160020
BASED ON 2006 ASSESSMENT OF
$61,l81.95 (60 days at $l67.62 per diem)
$10,057.20
PRORATION OF 2007 REAL EST A TE
TAXES FOLIO NO. 0232340160110
BASED ON 2006 ASSESSMENT OF
$120,573.82 (60 days at $330.34 per diem)
$19,820.40
PRORATION OF 2007 REAL ESTATE
TAXES FOLIO NO. 0232340160080
BASED ON 2006 ASSESSMENT OF
$53,309.19 (60 days at $146.05 per diem)
r==-::----- ----..- --.. - -- .--.------- ----. -- - ..
I CREDIT FOR SECURITY DEPOSIT(s)
I CRED~~-~OR RENT(S)
IPRO~_ATIONOF UTILITIES
I ~ days at $ per diem)
I PRO~TION OF WASTE
~ days at $ per diem)
I CAS-~-;~ CLOSE
r--=------- u -- -----
I TOTAL
$8,763.00
$
I
$ I
$
$
$13,161,359.40
,..-'"
I
$13.700.000.00 I
$13,700,000.00
BUYER'S EXPENSES
Title Search
Owner Title Premium
Loan Title Premium &
Endorsements
Corporate Documents
Murai Wald Biondo Moreno &
Brochin, P.A. (fees and costs)
Recording of Mortgage and
miscellaneous documents
Documentary Stamps on
Mortgage
Intangible Tax on Mortgage
Appraisals
Building Inspection reports
Environmental Reports
Preliminary Architectural &
Engineering
SELLER'S EXPENSES
I
I
I I
1__~~~,725~~?1 Surtax on Deed
I $3,722.501 Recording of Deed
I I
I j
J _ _ ___.____ _ _ __ ___ n_
I
$425.00 Documentary Stamps on Deed
I
__ I
I _______$~~~.:?~ I L_~~n_Searches ____ _ I
$15,500.00 II Express Flo~id~ Realty Inc.
(4.5% commIssIon)
___ ___ ____ J __ . _d ___ ----- ----
II $250.00 Payoff of Richard DiBenedetto II
Mortgage
_ ._ _ ____.________ __ ____J ___ _ ___________ __ __ ___ __ __.____h_ - - --
I $49,000.00 I Recording of Satisfaction of I
_I I Richard DiBenedetto Mortgage _1__
$0.00 Payoff of Richard W. Lyons
Mortgage
$7,500.00 Recording of Satisfaction of
Richard W. Lyons Mortgage
Relocation Fees to Housing
$30,000.00 Authority of Miami Beach
(2001 Washington Ave.)
Miami-Dade County Animal
$15,000.00 Services Citations (2001
Washington Ave.)
Miami-Dade County Animal
$50,000.00 Services Citations (1940 Park
Ave.)
_________________._ __.___ ... __.._u .. _. __.._ _
I Special Master of City of Miami
Beach (1975 Washington Ave.)
(Court Cost)
Fines to City of Miami Beach
(1975 Washington Ave.)
2
$82,200.00
$61,650.00 I
$52.50
$1,040.001
___.~ _________n____.._ "_._.._"
$616,500.00
.~m~j
$
$
I
I
I
$91,896.821
____J
$
$1,230.00
$220.00 I
__ _ _ _I
$75.001
I
$4,875.00
__I
TOTAL
I~ Miami-Dade County Animal
Services Citations (1975
Washington Ave.)
_______._,__. - .. - u__
I
I
$50.00
I I
Miami-Dade County Animal II $50.001'
Services Citations (1965
W ashington Ave.)
__________.~__ __ ___om .l________________._ I
5205,772.50, I TOT A~H___ n L__ 585~,.~~?~~ I
3
Due-Diligence Summary
1940 Park Avenue, Miami Beach, FL
2.9 ADA Compliance
2.10 Recommendations:
1. Environmental assessment to include an asbestos survey, mold survey and air quality sampling
2. Remove and replace all ceiling, wall and floor finishes to expose the structural framing members
3. Perform additional concrete testing
4. Repair wood framing systems
5. Repair concrete cracks and spalls
6. Replace entire roof system
7. Pressure clean all exterior surfaces, seal cracks, repair stucco and paint
8. Replacement of all windows
9. Replace all exterior and interior doors
10. Replace all kitchen and bathroom cabinets
11. Significant modification may be required to comply with Florida Building Code (FBC) Chapter 7, "Alterations-
Level 3" which specifies code compliance requirements for Special Occupancy, Building Elements & Materials,
Fire Protection, Means of Egress, Accessibility, Structural and Energy Conservation.
3.1.2 Fire Alarm:
3.2 Recommendations:
1. Increase size of current electrical service
2. Relocate electrical room to comply with FEMA flood levels
3. New switchgear for new electrical system
4. Rewire building for independent panels and service to each apartment
5. Provide Fire Alarm System
1 EXECUTIVE SUMMARY
. 1.2 General Description:
2 STRUCTURE
. 2.1 Description of Structure:
. 2.2 Wood Framing Systems:
. 2.3 Concrete Framing Systems:
. 2.4 Steel Framing System:
. 2.5 Roof:
. 2.6 Exterior Finishes:
. 2.7 Windows and Doors:
. 2.8 Interior Finishes:
.
.
3 ELECTRICAL
. 3.1.1 Electrical System:
.
.
February/2007
Building is an occupied, 65-unit Apartment-Hotel.
No irregularities observed with the general alignment of the building.
Evidence of damage due to Termites
Significant cracks in concrete columns with concrete spalls due to severe corrosion of
the reinforcing steel bars. Comprehensive strengths are 2586 psi and 3319 psi which
are low compared to current design standards.
South side of building round steel columns have moderate to severe corrosion at the
top connection to concrete deck. No other readily visible steel framing members
observed.
Built-up roof with tar and gravel surface observed to be in poor condition. Roof
system has exceeded its' life expectancy.
In general the paint was observed to be in fair condition.
Windows and storefront doors are in fair to poor conditions. Interior doors are in fair
conditions.
Interior walls and ceiling are in poor condition due to water damage and lack of
maintenance. Floors consisting of VCT flooring, carpets and tile are in poor
conditions. Terrazzo flooring in lobby in fair condition. Kitchen and bathrooms are in
poor conditions.
Building does not comply with ADA requirements.
Existing service to the facility is undersized. Location of Electrical room does not
comply with the flood plain requirements. The existing switchgear is in poor
condition. Electrical panels in hallway are in poor conditions with exposed wiring.
Each apartment will need to have its own panel in order to adhere to current practice.
Clearances in panels and plumbing line (in electrical room) do not meet National
Electrical Code (NEC) requirements.
Building does not have a fire alarm system.
4 MECHANICAL
. 4.1.1 HVAC System:
. 4.1.2 Fire Sprinkler System:
. 4.1.3 Elevators:
. 4.2 Recommendations:
1. All AIC units should be replaced, properly installed and able to provide Heat for winter months
2. Exhaust system shall be provided for all interior bathrooms
3. Sprinkler system piping should be pressure tested, certified and confirm pressure at roof manifold and
sprinkler heads shall be provided in all corridors and units to comply with Code.
Heating, ventilation and air conditioning systems for the building consist of individual
package window air conditioning units. They appeared to be in poor condition and
poorly installed. Building has no heating system. Natural ventilation in lobby and
main corridor through doors and windows. Interior toilet exhausts are non-existent.
Appear to be in good condition.
Not in operational condition.
5 PLUMBING
. 5.1 Description:
Toilet fixtures are outdated and in fair condition. Many of the plumbing connections
do not comply with current plumbing Codes. Many faucets in the units were leaking.
Relief line from the gas water heater does not meet Code requirements. Insulations
on the domestic hot water system are damaged andlor missing and theflue vent pipe
connection to the gas water heater does not meet Code requirements. Sanitary
sewer (cast iron) pipes observed were in poor conditions and corroded. Kitchen
plumbing connections do not meet current Code requirements. Pool plumbing in poor
condition.
. 5.2 Recommendation:
1. Plumbing fixtures in all units need replacements as well as all associated piping connections
2. Complete replacement of all domestic water, sanitary sewer and gas piping due to age and poor conditions
3. Each unit should have individual water heating system
The following are total estimated cost for each trade:
STRUCTURAL
ELECTRICAL
MECHANICAL
PLUMBING
$2,587,500.00
$430,000.00
$277,000.00
$562,500.00
TOTAL
$3,857,000.00
F:\ECONI$ALLIRDAIHousingIEngineering rptsl1940 Park aye summary.doc
Due-Diligence Summary
1965 Washington Avenue, Miami Beach, FL
2.9 ADA Compliance
2.10 Recommendations:
1. Environmental assessment to include an asbestos survey, mold survey and air quality sampling
2. Treatment for Termites
3. Remove and replace all ceiling, wall and floor finishes to expose the structural framing members
4. Perform additional concrete testing
5. Repair wood framing systems
6. Repair concrete cracks and spalls
7. Repair damage steel columns along east side of building with moderate to severe corrosion at the base
8. Replace entire roof system
9. Pressure clean all exterior surfaces, seal cracks, repair stucco and paint
10. Replacement of all windows and glass storefront doors
11. Replace all exterior and interior doors
12. Replace all kitchen and bathroom cabinets
13. Significant modification may be required to comply with Florida Building Code (FBC) Chapter 7, "Alterations-
Level 3" which specifies code compliance requirements for Special Occupancy, Building Elements & Materials,
Fire Protection, Means of Egress, Accessibility, Structural and Energy Conservation.
3.1.2 Fire Alarm:
3.2 Recommendations:
1. Increase size of current electrical service.
2. New switchgear for new electrical system
3. Rewire building for independent panels and service to each apartment
4. Provide Fire Alarm System
1 EXECUTIVE SUMMARY
. 1.2 General Description:
2 STRUCTURE
. 2.1 Description of Structure:
. 2.2 Wood Framing Systems:
. 2.3 Concrete Framing Systems:
. 2.4 Steel Framing System:
. 2.5 Roof:
. 2.6 Exterior Finishes:
. 2.7 Windows and Doors:
. 2.8 Interior Finishes:
.
.
3 ELECTRICAL
. 3.1.1 Electrical System:
.
.
F ebruary/2007
Building is occupied as a 10-unit Hotel.
No irregularities observed with the general alignment of the building.
Evidence of damage due to Termites and water.
Exterior walkways and balconies had exposed concrete framing members.
Significant cracks in concrete columns with concrete spa lis due to severe corrosion of
the reinforcing steel bars. Comprehensive strength is 3148 psi. This test result is low
compared to current design standards. Steel metal railings for stairs do not meet
current Code requirements.
Steel columns exhibit moderate to severe corrosion at the base. No other readily
visible steel framing members observed.
Built-up roof with tar and gravel surface observed to be in fair to poor condition. Roof
system has exceeded its' life expectancy.
In general the paint was observed to be in fair condition.
Windows were observed to be in fair condition with deteriorated operational
mechanisms, sealants and anchorage systems, with evidence of water intrusion.
Interior and exterior doors are in fair condition.
Interior walls and ceiling are in fair condition due to lack of maintenance. Floors
consisting of VCT flooring, carpets and tile are in poor conditions. Mildew and mold
was observed throughout the building due to water intrusion. Kitchen and bathrooms
are in poor conditions due to age and deteriorating from water leaks and termites.
Building does not comply with ADA requirements.
Existing electrical switchgear is deteriorating. The wooden enclosure where the
electrical service equipment is not NEMA 3R rated (rainproon. The size of the
service is not adequate for the size of the building. Power is distributed to units by
breaker panel or plug panel located in each unit and were in fair condition.
No Fire alarm system was found.
4 MECHANICAL
. 4.1.1 HVAC System:
.
4.1.2 Fire Sprinkler System:
4.1.3 Elevators:
4.2 Recommendations:
1. All AlC units should be replaced, properly installed and able to provide Heat for winter months
2. Exhaust system shall be provided for all interior bathrooms
3. Sprinkler system piping should be pressure tested, certified and confirm pressure at roof manifold and
sprinkler heads shall be provided in all corridors and units to comply with Code.
Heating, ventilation and air conditioning systems for the building consist of individual
package window air conditioning units. They appeared to be in poor condition and
poorly installed. Building has no heating system. Natural ventilation in lobby and
main corridor through doors and windows. Interior toilet exhausts are non-existent.
No fire sprinkler system.
Building has no elevators.
.
.
5 PLUMBING
. 5.1 Description:
Toilet fixtures are outdated and in fair condition. Many of the plumbing connections
do not comply with current plumbing Codes. Many faucets in the units were leaking.
Relief line from the gas water heater does not meet Code requirements. Insulations
on the domestic hot water system are damaged and/or missing and the flue vent pipe
connection to the gas water heater does not meet Code requirements. Sanitary
sewer (cast iron) pipes observed were in poor conditions and corroded. Kitchen
plumbing connections do not meet current Code requirements. Laundry room is
operational but missing some valve handles and proper vent conditions.
. 5.2 Recommendation:
1. Plumbing fixtures in all units need replacements as well as all associated piping connections
2. Complete replacement of all domestic water, sanitary sewer and gas piping due to age and poor conditions
3. Re-pipe relief valve from gas water heater and verify flue system to code compliance and each unit should
have individual water heating system
The following are total estimated cost for each trade:
STRUCTURAL
ELECTRICAL
MECHANICAL
PLUMBING
$388,000.00
$65,125.00
$33,750.00
$84,375.00
TOTAL
$571,250.00
F:\ECON\$ALLIRDAIHousinglEngineering rptsl1965 Washington ave summary, doc
Due-Diligence Summary
1975 Washington Avenue, Miami Beach, FL
2.9 ADA Compliance
2.10 Recommendations:
1. Environmental assessment to include an asbestos survey, mold survey and air quality sampling
2. Remove and replace all ceiling, wall and floor finishes to expose the structural framing members
3. Perform additional concrete testing
4. Repair wood framing systems
5. Repair concrete cracks and spalls
6. Repair damage steel columns along east side of building with moderate to severe corrosion at the base
7. Replace entire roof system
8. Pressure clean all exterior surfaces, seal cracks, repair stucco and paint
9. Replacement of all windows and glass storefront doors
10. Replace all exterior and interior doors
11. Replace all kitchen and bathroom cabinets
12. Significant modification may be required to comply with Florida Building Code (FBC) Chapter 7, "Alterations -
Level 3" which specifies code compliance requirements for Special Occupancy, Building Elements & Materials,
Fire Protection, Means of Egress, Accessibility, Structural and Energy Conservation.
3.1.2 Fire Alarm:
3.2 Recommendations:
1. Relocate electrical room to and outside service or bigger room in the building, rewiring the electrical system
will be required including replacement of the switchgear and panels.
2. Complete replacement or modifications to the Fire Alarm System
1 EXECUTIVE SUMMARY
. 1.2 General Description:
2 STRUCTURE
. 2.1 Description of Structure:
. 2.2 Wood Framing Systems:
. 2.3 Concrete Framing Systems:
.
2.4 Steel Framing System:
2.5 Roof:
.
.
2.6 Exterior Finishes:
2.7 Windows and Doors:
.
.
2.8 Interior Finishes:
.
.
3 ELECTRICAL
. 3.1.1 Electrical System:
.
.
February/2007
Building is occupied as a 44-unit Hotel.
No irregularities observed with the general alignment of the building.
Evidence of damage due to Termites and water.
Significant cracks in concrete columns with concrete spalls due to severe corrosion of
the reinforcing steel bars. Comprehensive strengths vary from 3005 psi to 3980 psi
are low compared to current design standards. Steel metal railings for stairs do not
meet current Code requirements.
No other readily visible steel framing members observed.
Built-up roof with tar and gravel surface observed to be in fair to poor condition. Roof
system has exceeded its' life expectancy.
In general the paint was observed to be in fair condition.
Windows were observed to be in fair condition with deteriorated operational
mechanisms, sealants and anchorage systems, with evidence of water intrusion.
Interior and exterior doors are in fair condition.
Interior walls and ceiling are in fair condition due to lack of maintenance. Floors
consisting of VCT flooring, carpets and tile are in poor conditions. Kitchen and
bathrooms are in poor conditions due to age and deteriorating from water leaks and
termites.
Building does not comply with ADA requirements.
The service has two (2) 400 amp service disconnects, but the service capacity of the
feeder is less than 400 amps. Electrical room does not have the clearance required
in front of the switchgear and the switchgear for distribution are old and in fair
condition. Power is distributed to units by a hallway panel or by a plug panel located
inside the units, not allowed for apartments.
Fire alarm system was not tested but appeared to be in fair condition
4 MECHANICAL
. 4.1.1 HVAC System:
.
4.1.2 Fire Sprinkler System:
4.1.3 Elevators:
4.2 Recommendations:
1. All Ale units should be replaced, properly installed and able to provide Heat for winter months
2. Exhaust system shall be provided for all interior bathrooms
3. Sprinkler system piping should be pressure tested, certified and confirm pressure at roof manifold and
sprinkler heads shall be provided in all corridors and units to comply with Code.
Heating, ventilation and air conditioning systems for the building consist of individual
package window air conditioning units. They appeared to be in poor condition and
poorly installed. Building has no heating system. Natural ventilation in lobby and
main corridor through doors and windows. Interior toilet exhausts are non-existent.
Appear to be in good condition.
Building has no elevators.
.
.
5 PLUMBING
. 5.1 Description:
Toilet fixtures are outdated and in fair condition. Many of the plumbing connections
do not comply with current plumbing Codes. Many faucets in the units were leaking.
Relief line from the gas water heater does not meet Code requirements. Insulations
on the domestic hot water system are damaged and/or missing and the flue vent pipe
connection to the gas water heater does not meet Code requirements. Sanitary
sewer (cast iron) pipes observed were in poor conditions and corroded. Kitchen
plumbing connections do not meet current Code requirements. Laundry room is
operational but missing some valve handles and proper vent conditions.
. 5.2 Recommendation:
1. Plumbing fixtures in all units need replacements as well as all associated piping connections
2. Abanandoned water heater storage tanks and hot water pipes should be removed
3. Complete replacement of all domestic water, sanitary sewer and gas piping due to age and poor conditions
4. Re-pipe relief valve from gas water heater and verify flue system to code compliance and each unit should
have individual water heating system
The following are total estimated cost for each trade:
STRUCTURAL
ELECTRICAL
MECHANICAL
PLUMBING
$1,725,000.00
$110,000.00
$150,000.00
$375,000.00
TOTAL
$2,360,000.00
F:\ECON\$ALLIRDAIHousingIEngineering rptsl1975 Washington ave summary, doc
Due-Diligence Summary
2001 Washington Avenue, Miami Beach, FL
1 EXECUTIVE SUMMARY
. 1.2 General Description:
2.9 ADA Compliance
2.10 Recommendations:
1. Environmental assessment to include an asbestos survey, mold survey and air quality sampling
2. Remove and replace all ceiling, wall and floor finishes to expose the structural framing members
3. Perform additional concrete testing
4. Repair wood framing systems
5. Repair concrete cracks and spalls
6. Replace entire roof system
7. Pressure clean all exterior surfaces, seal cracks, repair stucco and paint
8. Replacement of all windows
9. Replace all exterior and interior doors
10. Replace all kitchen and bathroom cabinets
11. Significant modification may be required to comply with Florida Building Code (FBe) Chapter 7, "Alterations -
Level 3" which specifies code compliance requirements for Special Occupancy, Building Elements & Materials,
Fire Protection, Means of Egress, Accessibility, Structural and Energy Conservation.
2 STRUCTURE
. 2.1 Description of Structure:
. 2.2 Wood Framing Systems:
. 2.3 Concrete Framing Systems:
. 2.4 Steel Framing System:
. 2.5 Roof:
. 2.6 Exterior Finishes:
. 2.7 Windows and Doors:
. 2.8 Interior Finishes:
.
.
3 ELECTRICAL
. 3.1.1 Electrical System:
. 3.1.2 Fire Alarm:
February/2007
Building is unoccupied, was previously used as a 42-unit Hotel.
No irregularities observed with the general alignment of the building.
Evidence of damage due to Termites and water damage.
Significant cracks in concrete columns with concrete spalls due to severe corrosion of
the reinforcing steel bars. Comprehensive strengths are 3148 psi and 3702 psi which
are low compared to current design standards below standards. Steel metal railings
for stairs do not meet current Code requirements.
South side of building round steel columns have moderate to severe corrosion at the
top connection to concrete deck. No other readily visible steel framing members
observed.
Built-up roof with tar and gravel surface observed to be in poor condition. Roof
system has exceeded its' life expectancy.
In general the paint was observed to be in fair to poor condition.
Windows were observed to be in fair to poor condition with deteriorated operational
mechanisms, sealants and anchorage systems. Storefront glass doors and transom
are in fair condition. Interior and exterior doors are in fair condition.
Interior walls and ceiling are in poor condition due to water damage and lack of
maintenance. Floors consisting of VCT flooring, carpets and tile are in poor
conditions. Terrazzo flooring in lobby in fair condition. Kitchen and bathrooms are in
poor conditions, due to age and deterioration.
Building does not comply with ADA requirements.
Existing electrical equipment is in poor condition and the service equipment is quite
old. The size of the service is not adequate to meet current requirements for the size
of the building. The electrical distribution system inside the building is also in poor
condition.
Fire alarm system in building is in poor condition and no smoke detectors installed as
part of the fire alarm system.
. 3.2 Recommendations:
1. Increase size of current electrical service.
2. New switchgear for new electrical system
3. Rewire building for independent panels and service to each apartment
4. Provide Fire Alarm System
4 MECHANICAL
. 4.1.1 HVACSystem:
.
4.1.2 Fire Sprinkler System:
4.1.3 Elevators:
4.2 Recommendations:
1. All AlC units should be replaced, properly installed and able to provide Heat for winter months
2. Exhaust system shall be provided for all interior bathrooms
3. Sprinkler system piping should be pressure tested, certified and confirm pressure at roof manifold and
sprinkler heads shall be provided in all corridors and units to comply with Code.
Heating, ventilation and air conditioning systems for the building consist of individual
package window air conditioning units. They appeared to be in poor condition and
poorly installed. Building has no heating system. Natural ventilation in lobby and
main corridor through doors and windows. Interior toilet exhausts are non-existent.
Roof exhaust fan is inoperative.
Appear to be in good condition. Some units and the corridor are missing sprinklers.
Not in operational condition.
.
.
5 PLUMBING
. 5.1 Description:
Toilet fixtures are in poor condition. Many of the plumbing connections
do not comply with current plumbing Codes. Many faucets in the units were leaking.
Relief line from the gas water heater does not meet Code requirements. Insulations
on the domestic hot water system are damaged and/or missing and the flue vent pipe
connection to the gas water heater does not meet Code requirements. Sanitary
sewer (cast iron) pipes observed were in poor conditions and corroded. Kitchen
plumbing connections do not meet current Code requirements.
. 5.2 Recommendation:
1. Plumbing fixtures in all units need replacements as well as all associated piping connections
2. Complete replacement of all domestic water, sanitary sewer and gas piping due to age and poor conditions
3. Re-pipe relief valve from gas water heater and verify flue system code compliance. Each unit should have
individual water heating system
The following are total estimated cost for each trade:
STRUCTURAL
ELECTRICAL
MECHANICAL
PLUMBING
$1,293,750.00
$250,000.00
$170,500.00
$281,250.00
TOTAL
$1,995,500.00
F:\ECON\$ALLIRDAIHousing\Engineering rpts\2001 Washington ave summary,doc
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CITY CENTER PROPERTIES MINIMUM POPULATION TO BE SERVICED
PROJECTED POPULATION SERVICED (MINIMUM)
BARCLAY 33 UNITS
UNIT DESCRIPTION MIN. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MIN) TOTAL COST COST/PERSON
STUDIOS 1 244,600 8 8 1,956,800 244,600
ONE BEDROOM 2 283,500 17 34 4,819,500 141,750
TWO BEDROOM 3 443,900 6 18 2,663,400 147,966
THREE BEDROOM 4 564,200 2 8 1,128,400 141,050
PROJECTED POPULATION SERVICED (MINIMUM)
BARCLAY 66 UNITS
UNIT DESCRIPTION I MIN. LOAD / U I UNIT COST AVG I TOT. UNITSI LOAD SERVICED (MIN) I TOTAL COST T COST/PERSON
STUDIOS I 1 I 202,0001 66 1 66 I 13,317,703T 201,783
PROJECTED POPULATION SERVICED (MINIMUM)
ALLEN 23 UNITS
UNIT DESCRIPTION MIN. LOAD / U UNIT COST A VG TOT. UNITS LOAD SERVICED (MIN) TOTAL COST COST/PERSON
STUDIOS 1 255,800 8 8 2,046,400 255,800
ONE BEDROOM 2 334,000 10 20 3,340,000 167,000
TWO BEDROOM 3 453,000 5 15 2,265,000 151,000
PROJECTED POPULATION SERVICED (MINIMUM)
ALLEN 42 UNITS
UNIT DESCRIPTION I MIN. LOAD / U I UNIT COST AVG I TOT. UNITSI LOAD SERVICED (MIN) I TOTAL COST I COST/PERSON
STUDIOS I 1 I 179,0001 42 I 42 I 7,512,5321 178,870
PROJECTED POPULATION SERVICED (MINIMUM)
LONDON 31 UNITS
UNIT DESCRIPTION MIN. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MIN) TOTAL COST COST/PERSON
STUDIOS 1 196,900 6 6 1,181,400 196,900
ONE BEDROOM 2 269,900 22 44 5,937,800 134,950
TWO BEDROOM 3 436,913 3 9 1,310,739 145,637
PROJECTED POPULATION SERVICED (MINIMUM)
LONDON 55 UNITS
UNIT DESCRIPTION MIN. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MIN) TOTAL COST COST / PERSON
STUDIOS 1 165,563 51 51 8,443,713 165,563
ONE BEDROOM 2 228,500 4 8 914,000 114,250
NOTE: OCCUPANCY LOADS CONSIDERED FOR THIS ANALYSIS MEET THE MINIMUM POSSIBLE OCCUPANCY
LOADS, U.S. HUD MINIMUM HOUSING STANDARDS WILL ALLOW LIVING/DINING AREAS TO BE USED
AS A BEDROOM, AS lONG AS IT MEET MINIMUM HOUSING QUALITY STANDARDS SO IN REAL
PRACTICE A ONE BEDROOM APARTMENT MAY HOUSE 3 INDIVIDUALS, A TWO BEDROOM APARTMENT
MAY HOUSE UP TO 5 INDIVIDUALS, ETC
FOR INCOME PURPOSES HOUSING UNITS ARE RENTED BY THEIR CLASSIFICATION STUDIOS, ONE, TWO
OR THREE BEDROOMS. THE DIFFERENCE BETWEEN A STUDIO AND A THREE BEDROOM DOES NOT
JUSTIFY THE RENT PRICE PER FAMilY MEMBER OCCUPYING SUCH UNIT.
CITY CENTER PROPERTIES MAXIMUM POPULATION TO BE SERVICED
PROJECTED POPULATION SERVICED (MAXIMUM)
BARCLAY 33 UNITS
UNIT DESCRIPTION MAX. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MAX) TOTAL COST COST/PERSON
STUDIOS 2 244,600 8 16 1,956,800 122,425
ONE BEDROOM 3 283,500 17 51 4,819,500 94,500
TWO BEDROOM 5 443,900 6 30 2,663,400 88,780
THREE BEDROOM 7 564,200 2 14 1,128,400 80,600
PROJECTED POPULATION SERVICED (MAXIMUM)
BARCLAY 66 UNITS
UNIT DESCRIPTION I MAX. LOAD / U I UNIT COST AVG I TOT. UNITSI LOAD SERVICED (MAX)I TOTAL COST T COST/PERSON
STUDIOS I 2 I 202,0001 66 1 122 1 13,317,7031 109,161
PROJECTED POPULATION SERVICED (MAXIMUM)
ALLEN 23 UNITS
UNIT DESCRIPTION MAX. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MAX) TOTAL COST COST/PERSON
STUDIOS 2 255,800 8 16 2,046,400 127,900
ONE BEDROOM 3 334,000 10 30 3,340,000 111,333
TWO BEDROOM 5 453,000 5 25 2,265,000 90,600
PROJECTED POPULATION SERVICED (MAXIMUM)
ALLEN 42 UNITS
UNIT DESCRIPTION I MAX. LOAD / U I UNIT COST A VG 1 TOT. UNITSI LOAD SERVICED (MAX)I TOTAL COST I COST/PERSON
STUDIOS 1 2 I 179,0001 42 I 84 I 7,512,5321 89,435
PROJECTED POPULATION SERVICED (MAXIMUM)
LONDON 31 UNITS
UNIT DESCRIPTION MAX. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MAX) TOTAL COST COST/PERSON
STUDIOS 2 196,900 6 12 1,181,400 98,450
ONE BEDROOM 3 269,900 22 66 5,937,800 89,966
TWO BEDROOM 5 436,913 3 15 1,310,739 87,382
PROJECTED POPULATION SERVICED (MAXIMUM)
LONDON 55 UNITS
UNIT DESCRIPTION MAX. LOAD / U UNIT COST AVG TOT. UNITS LOAD SERVICED (MAX) TOTAL COST COST / PERSON
STUDIOS 2 165,563 51 102 8,443,713 82,718
ONE BEDROOM 3 228,500 4 12 914,000 76,166