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Item J4BOARD OF COUNTY COMMISSIONERS AGENDA ITEM SUMMARY Meeting Date: March 16. 2011 Bulk Item: 'Yes x No Division: Growth Management Department: Staff Contact Person/Phone #: Susan Grimslev 289 -2517 AGENDA ITEM WORDING: Approval of a resolution consenting to the assignment of rights under the Development Agreement between Monroe County and Northstar Resorts Enterprises Corp. to Keys Lake Villas, LLC for affordable housing. ITEM BACKGROUND: Northstar Resorts Enterprises Corp. entered into a Development Agreement with Monroe County on March 19, 2008. One of the requirements of the agreement was to build 110 units of affordable housing in Key Largo on the site of the former Florida Keys RV Resort. Permits have been pulled for the project timely, and the project is projected to obtain financing on April 15, 2011, prior to the next BOCC meeting. HUD financing requires a single purpose entity to own and complete the project, so Northstar has assigned its rights to Keys Lake Villas, LLC. Under the Development Agreement, the County is required to consent to any assignment; such consent is not to be unreasonably withheld. PREVIOUS RELEVANT BOCC ACTION: March 19, 2008- BOCC approved Development Agreement with Northstar Resorts January 28, 2009 — BOCC approved Consent to Assignment by Northstar Resorts for financing May 19, 2010 — BOCC approved Subordination Agreement with Northstar Resorts for financing CONTRACT /AGREEMENT CHANGES: n/a STAFF RECOMMENDATIONS: Approval TOTAL COST: INDIRECT COST: BUDGETED: Yes No DIFFERENTIAL OF LOCAL PREFERENCE: COST TO COUNTY: SOURCE OF FUNDS: REVENUE PRODUCING: Yes ` No AMOUNT PER MONTH Year APPROVED BY: County Atty x OMB/Purchasing Risk Management DOCUMENTATION: Included x Not Required DISPOSITION: AGENDA ITEM # J Revised 7/09 RESOLUTION NO. -2011 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA, CONSENTING TO THE ASSIGNMENT OF RIGHTS UNDER THE DEVELOPMENT AGREEMENT BETWEEN MONROE COUNTY AND NORTHSTAR RESORTS ENTERPRISES CORP. TO KEYS LAKE VILLAS, LLC WHEREAS, Monroe County (County) and Northstar Resort Enterprises Corp. (Northstar) entered into a Development Agreement on March 19, 2008, recorded at OR Book 2352 at Page 2310 of the Official Records of Monroe County; and WHEREAS, Northstar agreed to build one hundred ten (110) units of affordable housing at the site known as Lakeview Gardens at Mile Marker 106 in Key Largo; and WHEREAS, Northstar is selling the parcel of land that is the site of the affordable housing to Keys Lake Villas, LLC as shown on Exhibit A, to satisfy HUD financing requirements for a single purpose entity to complete the project; and WHEREAS, Northstar is requesting a consent to the assignment of its rights to build the affordable housing pursuant to Paragraph 14 of the Development Agreement, such assignment is shown on Exhibit B; and WHEREAS, consent to such assignment shall not be unreasonably withheld according to Paragraph 14 of the Development Agreement; NOW THEREFORE, BE IT RESOLVED BY THE MONROE COUNTY BOARD OF COUNTY COMMISSIONERS: Consent is hereby given to the assignment by Northstar Resorts Enterprises Corp. to Keys Lake Villas, LLC of its rights under the Development Agreement between Monroe County and Northstar Resorts Enterprises Corp. dated March 19, 2008 at the property shown on Exhibit A. Keys Lake Villas Resolution Page 1 PASSED AND ADOPTED, by the Board of County Commissioners of Monroe County, Florida at a regular meeting of said Board on the 16 day of March, 2011. Mayor Heather Carruthers Mayor pro tem David Rice Commissioner Sylvia Murphy Commissioner George Neugent Commissioner Kim Wigington BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA By: (SEAL) ATTEST: Danny L. Kolhage, CLERK By Deputy Clerk Mayor Heather Carruthers NNF'OE COUNTVATTOp.W APPFIPVE AS To FORA �8sls A • _ y Date ANT COU Keys Lake Villas Resolution Page 2 MURAI WALD BIONDO & MORENO Birsxx8ss Arras Ta1ei- LAwYSas GERALD J. DIONDO M. CRIBTINA MORENO RENE V. MURAI ALLEN P. PEGe GERALD B. WALD March 9, 2011 County Administrator County of Monroe 1100 Simonton Street Key West, FL 33040 County Attorney Susan Grimsley Monroe County Attorneys Office P.O. Box 1026 Key West, FL 33041 -1026 Growth Management Division Director Growth Management Division Marathon Government Center 2798 Overseas Highway Marathon, FL 33050 BRANDON L. BIONDO MARIA V. CURRAIB LYNETTE E. MCGUINNESS JAVIER A. REYE8 CRIBTINA JIMEN EZ or COUNSEL Fe: Development Agreement between Board of County Commissioners of Monroe County, Florida and Northstar Resort Enterprises Corp recorded in OR Book 2352 Page 2310 of the Public Records of Monroe County, Florida Ladies and Gentlemen: Please be advised that we represent Keys Lake Villas, LLC, a Florida limited liability company, which is contracted to purchase from Northstar Resort Enterprises Corp. the real property which is the subject of the referenced Development Agreement. Pursuant to paragraph 14 of the Development Agreement, the same is not subject to assignment by the Developer without the express written approval of the County, such approval not to be unreasonably withheld. The purpose of this letter is to request said approval. In connection with the same I am enclosing under cover a copy of the Assignment and Assumption of Developer Agreement duly executed by our client and Northstar Resort Enterprises Corp. Sincerely yours, Gerald i ondo G: \data \LeCesse\$aunders Joint venutre \county of Monroe Growth Management Kr 3.9.2011.doc MURM WAM Bmw & Momwo p. & 1200 PONCE DE LEON BOULEVARD, CORAL GABLES, FLORIDA 33134 - TEL (305) 4440101 • FAX (305) 444-0174 • WWW MWoM.COM Prepared by and Return to: Gerald J. Blondo, Esquire Mural Wald Blondo & Moreno, P.A. 1200 Ponce De Leon Boulevard Coral Gables, Florida 33134 ASSIGNMENT AND ASSt1MPTI0N OF DEV r nonerN'r er•acrn ENT THIS ASSIGNMENT AND ASSUMPTION OF DEVELOPMENT AGREEMENT (" sf n ent") Is made and entered Into as of this _ Q day of November 2010 ( " Transfer Date "), by NORTHSTAR RESORT ENTERPRISES, CORP., a Florida corporation ( "ANgWf), having an address at 102901 Overseas Highway, Key Largo, FL 33037, to KEYS LAKE VILLAS, LLC, a Florida limited liability company ( " Asslanee ^), having an address at 650 S. Northlake Boulevard, Suite 450, Altamonte Springs, FL 32701, PRELIMIARY STATEM W Assignor has agreed to assign all Its right, titie and Interest in and to that certain Development Agreement dated March '19,2008, by and between Assignor and the Board of County Commissioners of Monroe County recorded In Official Records Book 2332 at Page 2310 of the Public Records of Monroe County, Florida (the "Development Agreement "), encumbering the real property ( "Real Property"), described on E " " attached hereto, to Assignee. In consideration of the mutual covenants contained in this Assignment, and other good and valuable consideration, the receipt and sufficiency of which Is hereby acknowledged, Assignor and Assignee hereby agree 1. ASSIGNMENT As of the Transfer Date, Assignor hereby assigns and transfers all of Its right, title, claim and Interest in, to and under the Development Agreement to Assignee and its successors and assigns. 2. ACCEPTANCE O Assignee, as of the Transfer Date, hereby accepts the foregoing assignment of the Development Agreement and assumes all of the Assignor's obligations under the Development Agreement dosing from facts and circumstances that occur after the date hereof. (A) In the event of any litigation Including appellate and bankruptcy proceedings between Assignor and Assignee arising-out of this AmIgnmant, the prevailing partyWHI be entitled to recover all expenses and costs Incurred in connection therewith, including reasonable attorneys' fees and costs. (S) Assigner and Assignee subs rit to the jurisdiction of the civil courts of the State of Florida and the United States DMIct Coufts located in such state In respect of any suit or other proceeding brought with or arising out of this Assignmerrt and venue Ad be In MiamFDade County, Florida. The provisions of this Section shall survive the Clobhig or early termination of thfsAssignmerit. S. BINDING EFFECT ThlsAssignment will be binding on and Inure to the benefit of the parties hereln, their heirs, executors, administrators, satcgesors4n- interest and assigns, 6. GOVERNING LAVIt. This Agsignment wiU be gauerod by and construed In Accordance with the laws of the State of Florida without r aprd t.9 principles ofconflicts of laws. i. COYM PARTS, This itssignment may be executed in two or more counterparts, each of which will be deemed an erlginal, butalf of whlch together will constitute one and the same Instrument. THIS ASSIGNMENT has been executed by ASsfgnar and Aftned on the Transfer Date s "AFAIGNOR" NORTHSTAR RESORT ENTERPRISES, WRP., a Florida cofporation Syr �gt e Name: 1*+ rtrl¢art Titlt•: MS "ASSIGNEE?" kM LAK9 VILLAS, LLC, a Florida Irmited HabSty cornpany BY' KEYS LV, LLLP BY: KEYS LLC Frank Gresch, Manager PFlnt Name: Androw LacLmae STATE Of FLORIDA CD+UNTYOF A M,' - ILL The foregoing iniftment, was acknowl before the this 41.nj dear of Wow► bw 7 by i - t xj2 - n s� /tl s t }X�1 of NORTHSTAR RESORT ENT gRPRW4 CORP., a Florida corporation. 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W i Order. 300807145 Doc: FLMONR:2352 -02310 Page 18 of 97 Created By: mbantldd Printed: 10/16/2008 2:58:55 PM EST Keys Lake Villas LEGAL DESCRIPTION: Keys Lake Villas parcel (HUD parcel), more particularly described as follows: PARCEL 1 All that part of Lots 5, 12 and 13, in Section 6, Township 61 South, Range 40 East, which is West of a line beginning at a point on the center of the South boundary of Lot 13, and extending straight through the center of Lots 13 and 12, and through Lot 5 to the Southeast side of the Monroe County Road; all of said land being on the South side of the Florida East Coast Railroad Right of Way, according to the Plat thereof, recorded in Plat Book 1 at Page 68 of the public records of Monroe County, Florida. PARCEL 2 A portion of Lots 12 and 13, Section 6, Township 61 South, Range 40 East, according to a survey made by P.F. Jenkins and redorded in Plat Book 1, Page 68 of the public records of Monroe County, Florida and being more particularly described as follows: Commence at the southeast corner of said Lot 13; thence in a westerly direction along the south boundary line of said Lot 13, South 89 degrees 04'38" West, a distance of 331.48 feet; thence North 00 degrees 40'47" West, a distance of 381.69 feet to a Point of Beginning; thence continue North 00 degrees 40'47" West, • distance of 1033.82 feet; thence North 89 degrees 19'13" East, • distance of 17.00 feet; thence South 00 degrees 40'47" East, a distance of 901.27 feet; thence North 89 degrees 19'13" East, a distance of 8.00 feet; thence South 00 degrees 40'47" East, a distance of 132.55 feet; thence South 89 degrees 19'13" West, a distance of 25.00 feet to the Point of Beginning. LESS AND EXCEPT: Lakeview Gardens parcel (Non -HUD parcel), part of said Parcels 1 and 2, more particularly described as follows: Commence at the intersection of the lotline common to Lots 9 and 12, according to the plat by P.F. Jenkins recorded in Plat Book 1 at Page 68 of the public records of Monroe County. Florida, with the existing southeasterly right of way line of State Road No. 5 (US Hwy No. 1); thence S 0'40'47 "E along said lotline, being also the centerline of an un -named 30 foot wide roadway according to said plat, for 792.06 feet to the Point of Beginning. thence N 89'19'13 "E for 84.09 feet to the Point of Curvature of a circular curve, concave to the southwest, having for its elements a Radius of 20.0 feet and a Central Angle of 90'00'42 "; thence southeasterly along the arc of said curve for 31.42 feet to the Point of Tangency; thence S (740'05 "E for 40.79 feet to the Point of Curva- ture of a circular curve, concave to the northeast, having for its elements a Radius of 49.0 feet and a Central Angle of 118'14'23 "; thence easterly along the arc of said curve for 101.12 feet to the Point of Tangency; thence N 61'05'32 "E for 150.57 feet to the Point of Curvature of a circular curve, concave to the northwest, having for its elements a Radius of 25.0 feet and a Central Angle of 61'45'53 "; thence along the arc of said curve for 26.95 feet to the Point of Tangency; thence N 0'40'21 "W for 43.21 feet; thence N 89'19'13 "E for 32.27 feet to the most easterly line of the afore described Parcel 2; thence S 0'40'47"E along said most easterly line of Parcel 2 for 132.55 feet; thence S 89'19'13"W along the southerly line of said Parcel 2 for 25.0 feet to the easterly line of afore described Parcel 1; thence S 0'40'47 "E along said easterly line of Parcel 1 for 381.69 feet to the southerly line of said Parcel 1; thence S 8W04 23"W along said southerly line of Parcel 1 for 329.37 feet to the said centerline of said 30 foot wide un -named roadway; thence N 1740'47"W along said centerline for 483.56 feet to the Point of Beginning. Containing 145652 square feet or 3.3437 acres, more or less. Subject to and Together with: A 5 foot wide by 206.10 feet long Pedestrian Easement, adjoining and parallel with the easterly right of way line of said 30 foot wide un -named roadway, more particularly described as follows: Commence at the intersection of the lotline common to Lots 9 and 12, according to the plat by P.F. Jenkins, recorded in Plat Book 1 at Page 68 of public records of Monroe County, Florida, with the existing southeasterly right of way line of State Rood No. 5 (US Highway No. 1); thence S 0'40'47 "E along said lotline, being also the centerline of an un -named 30 foot wide roadway according to said plat, for 792.06 feet; thence N 89'19'13 "E for 15.0 feet to the easterly right of way line of said 30 foot roadway and the Point of Beginning: thence continue N 89'19'13 "E for 5.0 feet; thence S 0'40'47 "E for 206.10 feet; thence S 89'19'13"W for 5.0 feet to said easterly right of way line; thence N 0'40'47"W for 206.10 feet along said right of way line to the Point of Beginning; containing 1031 square feet, more or less. Prepared bT Reed & CompmV Dowebpmsat Servtoee, 89249 O"nm Hf Mmy, Sa11e 3 Tarerdw, FL 33878 P6oae: 3054524862 DEVELOPMENT AGREEMENT BETWEEN BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORIDA AND NORTHSTAR RESORTS ENTERPRISES, INC. THIS AGREEMENT is made and entered into as of this 19th day of March, 2008, by and between the BOARD OF COUNTY COMMISSIONERS OF MONROE COUNTY, FLORl83A ( "Board or "Conntyl and NORTHSTAR RESORTS ENTERPRISE% INC., a Florida Corporation ("Developed'). 8lft1L WHEREAS, the Board and the Developer recognize the following: A. •'This agreement is entered into in accordance with the Florida Local Government Development Agreement Act, 163.3220-163.3243, Florida Statutes ("Act"). B. The Developer is the owner of certain real property located in Monroe County, Florida, and described in the attached Exhibit "A ", currently referred to as Lakeview Gardena ("Lakeview Cardemej, and P��ly known as Florida Keys RV Resort, Barefoot Key RV Resort and Happy Vagabond. The site is comprised of some 11.68 acres of which approximately 10.24 acres are upland with a 1.44 lake. This site is currently developed with thirteen (13) market rate, Rate of Growth Ordinance (ROGO) exemptions established on the site in the form of mobile homes. The site was previously developed in addition to the 13 market rate units with 126 RV ROGO exempt spaces. C. The Developer is also owner of certain real property located in Monroe County, Florida, and desc 1W in the attached Exhibit 'B ", cw=dy referred to as Nortbatar Resorts. ( the " Resort SiW j, which is subject to approval P02-07 for the development of a 138 unit resort hotel, restaurant and accessory SUM MU. D. Resolution P5"3 by the Monroe County planning Commission law&Uy established one hundred twenty -six (126) Rate of Growth Ordinate (herein after referred to as "ROGO") exemptions from the Lakeview Gardens Site (MM 106) as eligible for transfer. E. Resohltion P5"3 by the Monroe County Planning Commission @Moved the request filed by Northstar Resort to receive seventy - seven (77) ROGO exemptions from the Lakeview Gardena site at the Resort Site. 2129108 - Lakeview Garden* Deuelopntent Age Page 1 F. Resolution P02-07 by the Monroe County Phuming CommMon approved the request filed by Northstar Resort Enterprises Corporation to receive forty -nine (49) transient transferable ROOD exemptions (TREs) from the Lakeview Gardens site at the Resort site. This resolution also identified the Lakeview Gardens as a linked site to the Resort site where fifteen 05) affordable housing units would be built prior to receiving a cartificate of occupancy on any of the hotel units at the Resort Site. G. Development Order 804-04 established forty -seven (47) ROGO exemptions at the Resort site. K Development Order #05-04 approved Lakeview Gardens as a receiver site for the forty -seven (47) ROGO exemptions identified in Development Order 1104-04. L Then is limited land area suitable for residential development in the County. J• Then is an unmet need of 7.317 affordable housing units. K Even moderate income households (those earning from 120 - 160% of the County median income) are in need of affordable housing. L. Due to state - imposed rnquueuments related to hurricane evacuation standards, there are a limited number of residential building permits available on an annual basis. M. The County faces an unprecedented number of applications for Administrative Relief and current market rate building permits applications with an insufficient amount of market rate permits available to satisfy the demand. N. The County acts as an unbiased partner in the issuance of available Rate of Growth Ordinance ("ROGO") allocations. O. Most of the recent awards of affordable ROGO allocations have been to Lower Keys affordable housing projects: i.e. Park Village (d0 allocations); Vi Islands loge (89 allocations); Overseas Redevelopment (49 allocations). P. For Riding approvals and other purposes Develops needs immediate verification of affordable ROGO dwelling unit allocation set asides in order to receive assurance of the County's commitment in order to proceed with the project. Q. The County has amended land development regulations and crested new approaches with incentives to encourage development of affordable ho may not be applicable to this project. using. but which R. This project will }yelp to meet Goal 601 of the Monroe Comity Comprehensive Plan which states Monroe County shall adopt programs and policies to by all current and future residents to adequate and affordable housing 2129108 - Lakeview Germ Development Agremsew Page 2 that is safe, decent, and structurally sound, and that meets the needs of the population based on type, tenure characteristics, unit size and MvkhW preferonces. S. Developer will develop 123 units of which 110 units will be designated as affordable employee housing units and 13 will be designated as market rate units, in addition to an accessory day care serving the residents of this development as well as a community club house. T. The County will provide to the Developer 110 required affordable R000 allocations. Developer will donate to the County the 47 market rate ROQO exemptions from the Northstor Resort parcel. The developer will use its 13 market rate ROGO exemptions to conat uct the 13 market rate units, without the need to apply for any additional market rate allocations. County will provide Developer with 91 lnchaionary Housing Tracking Certificates (IHTCs) to be used as cm is to satisfy inchisianary requirements at fndu+e locations. U. On May 23, 2007 an application far an am n mw to a Major Conditional Use Application was Sled with the Monroe County Planning Depart for development of 123 residential units and accessory structures on the Lakeview Gardens site. V. In order to foster comprehensive planning and to comply with Goal 601 of the Monroe County Comprehensive plan and to encourage the efficient use of resources, to reduce the economic cost of developnunt, and to afford certainty in the a of development, the Hoard and the Developer desire to establish by agreement the demo under with the Property may be developed W. On January 23, 2008 the Monroe County Planning Commission held the first public hearing on this Agreement. Notice of intent to consider this Agreement was provided in accordance with law. The item was head and continued to the next Planning Commission public hearing date on February S. 2008. X On March 19, 2008 the Board of County Commissioners held the second public hearing on this Agreement after providing notice in accordance with law. NOW THEREFORE, in consideration of the mutual covenants entered into between the parties, and in consideration of the benefits to accrue: to each, it is agreed to as follows: The above recitals are true and correct and aro incorporated herein and made a Part hereof 2• RMoae ofAMeeme..r The parties agree as follow: 2/29108 - Lakeview Gmrdm DemlopmentdgmMe N Page 3 a. County shall reserve 110 affordable ROGO allocations for Developer to be built as affordable employee housing units, upon the effective date of this Agreement. One hundred and four (104) allocations shall be moderate affordable ROGO allocations and six (6) shall be low and very low allocations. b. County to issue 75 of the 110 reserved ROGO affordable allocations to developer upon the effective date of this Agent. C. County shall issue the remaining 35 reserved ROGO a ff or d a bl e allocations on or before August 1, 2008. d. Developer to build 110 deed restricted affordable employee housing units to help meet the deficit of current and future affordable housing needs. All units shall be deed restricted as employee units, unless 2n below is applicable. Six (6) units shall be dead restricted for those meeting low and very low ineomYe standards. e. Developer shall retain all 13 market rate ROGO exemptions and shall rebuild the 13 market rate residential units on site as Protected and Provided by Chapter 9.5 -268 of the Moneoe Canty Code (MCC). E Developer shall convert the existing 2,892 square feet of existing commercial floor area into a 1,558 square foot accessary chub house and a 1,334 square foot accessory owner's day care. & Developer shall donate to the County forty -seven (47) market rate ROGO exemptions f1 om the Resort site as established by Developer Order if04-04 upon the effective date of this Agreement for County's use. h. Developer shall receive Ninety -area (91) 7nclusionary Housing Tracking Cwtiflwtes (IHTCs) from the County that can be used to satisfy lnclusionary Housing requirements for fixture developments by Developer or others as outlined in Section 9.5 -266 of the Monroe County Code (MCC) or for any other inclusionary, affordable housing requirements which may be imposed in the future. Such certificates shall be provided by County to Developer upon issuance of a certifcaft of occuPancy for each of the ninety- one (91) units. Tracking certifjcates shall survive the expiration or termination of the amt, i. Ninety -One (91) of the affordable housing units are recognized as inchsionary housing unit credits to satisfy fhbrre Projects in the upper keys sub area. This may include municipalities within the same sub area if theca is an appropriate inter6W agm Pursuant to 9.5 -266 of the Monroe County Code. j - This apsement "Owdudes approved linkage of the sender site and any receiver site($) associated with these cerd8cataa and acts as a 2129108 - Lakeview Gad era Devielopmmt Agrremerll Page 4 covenant running in favor of Monroe County which shag not require farther Board approval. The covenant running in &vor of Monroe County win be tracked through the filing of the Inclusionery Housing Tracking Certificate (IHTC) cwd&ate in the public record. The Developer, as !alder of the certificalM shall Provide a notarized document evidencing the transfer including: owner of project, preod name, legal description, rural estate number, number of units and numbered certificate being transferred. IL Fifteen (15) of the one hundred and ten (l 10) Affordable employee units serve to meet Resolution P02-07 in which Developer agreed to build fifteen (15) affordable units linked to the Resort site. Four (4) of the One Hundred and ten (110) units serve as inchsiomsry lousing requirements for the thirteen (13) market rate units to be redeveloped on site. These units win not receive kchraionary Housing Tracking Certificates and can not be link with future projects. 1. Developer will apply for building permits within 9 months of race of the initial 75 affordable ROGO anocatioas and receive certificates of occupancy on the first 75 units within 24 months of building permits being issued. UL Developer will apply for building permits within one (1) year of the receipt of the remaining 35 affordable ROGO allocations from the County and receive certificates of occupancy on the remaining 35 units within two (2) years of the building permits being issued. n. Developer will return to County any portion of the unused 110 affordable allocations not used by the dates as specified in "1 ", '•m" and "q" unless Developer requests an extension of time within the term of this amt, from the Canty, based on circumstances that have created undue hardship to Developer, at which time the timefiames as outlined may be extended by the County. o. Developer will not be held to additional designation of reatricdng the units to employee housing if prior to certificate of occupancy of any of the units a land development regulation occurs in which affordable haling units era added a permitted use without the further designation of employee. However, under no circumstances shall no leas than nineteen (19) units be designated as affordable employee units. P. Owaerahip of affordable units way be by partnership, limited Parbwsbi% corporation. governmental entity, co- operative or similar types of ownership so long as the sates price and occupants Of the subject units met affordable guidelines as provided in the Monroo County Code. 2129108 - Lakeview Gordew Dewlopment Agreerreru page 5 q. The Punning Director may grant a one time extension of six (6) months for building permit applications and construction deadlines as set forth in "1" and "m" above. The Lakeview Gardens property is described in Exhibit A attached hereto and made part hereof. Northstar• Resort Enterprise Corporation, a Vida Corporation. is the legal and equitable title holder to the Lakeview Gardens site The Resort Site is described in Exhibit H attached hereto and made Put hereof Noithstar Resort Enterprises Corporation, a Florida Corporation is the legal and equitable title holder to the Resort Site. j �n This Agreement shall expire ten (10) years after the Effective Date provided in Provision 9, unless earlier terminated as provided in Provisions S and 6, or extended as provided in Provision 7. (1) Tho development proposed on the Property includes 123 Resideadd units of which 110 of the units will be deem ted as affordable employee housing units and 13 will be market rate 'Mill. In addition the development includes a 1,558 square foot aoceorory club house and a 1,334 square foot =awry owners day care. All units proposed to be constructed have born designed to be under the 3S foot height restriction as OwUned in Section 9.5- 283 and all buildings have been designed to have finished floor elevations at or above time required per floodplWn management sections 9.5 -316 and 317. Fnrthermora all buildings have been designed with open porches, ceiling fans and energy efficient air - conditioning units ad appliances to reduce energy use. Installation of restive plant landscaping will reduce the re9�s for water and maintenance. (2) Section 9.5 -266 (a)(l)(b.) of the Mourne County Code ( MCC) permits the development of affordable and employee housing as defined in Section 9.5 4(A - 5) and (E - Z) on parcels of lead classified as Suburban Commorcial (SC) at an intensity up to a marcimum net residential density of 0 8) dwelling units per acre, 2129108 - Lakvvim Gardem Demlopme w Agrewne nt Page 6 Based on 9.88 acres of upland Suburban Commercial zoned land the site could support up to 142 affordable housing units. (3) Section 9.5 -268 of the MCC states that "notwithstanding the provisions of sections 9.5 -262 and 9.5 -263, the owners of land upon which a lawfully established dwelling unit or a mobile home ... shall be entitled to one (1) dwelling unit fo r each such unit in existence. Such legally - established dwelling unit shall not be considered ae a non - conforming use". Therefore the n7jacoment of the thirteen (13) market tote residential units is permitted. (4) Owners club house and owners daycare are considered permitted accessory structures under Section 9.5-4 (A -2). d. Descrineion of Asom Publi font &iti vina devele (!) Roads ads - Based on the Level III TmM atndy prepared by Transport Analysis Professionals (tRP) there are sufficient reserve trips on US 1 Segment 24 in which the project is located to handle the additional trips generated by the development ( Solid Wmft - As of Luna 2006, Waste Management In reports a eve capacity of "roximately 26 million cubic yards at their Central Sanitary LaDMU in Broward County, a volume sufficient to serve their clients for another seven (7) yew Monroe County has a contract with WMI authorizing use of in -state facilities through September 30, 2016, thereby providing the County with — 83fitely ten yew of guaranteed capacity. Ongoing modifications at the Central Sanitary Landfill are creating additional air space and years of life. In addition to this contract, the 90,000 cubic yard reserve at the County landfill on Cudjoe Key would be sufficient to handle the County's waste stream for an additional three years (at current tomiage levels). The combination of the existing haul -out contract and the space available at the Cudjoe Key landfill provides the County with sufficient capacity to accommodeite all existing and approved development for up to thirteen Years. (Source PFCA 2006) (3) Potable Water - According to the 2006 PFCA there is are 132 gallons on average Per day per person available with a maximum of 157 gallons per person per day. Based on an average household size of 2.26, 132 gallons per person per day a'onld translate to 298 average gallons per household Per day or a maximum of 354 (157 gallons per person per day X 2.26) gallons per Person per day. A single family 2129108 - Lakeview Gvrrderrs Dewlopnrent Agrvemem Page 7 home is expected to generate on average 350 gallons per day. Basal on 110 units, since 13 of the units will be redevdopments, it is estimated that upon build out the project will require 38,500 (350 gpd X 110) additional gallons of water per day. The existing 13 units will continue to require 4,550 gallow of water per day. Therefore the entire site with existing and new units will require 43,050 gallons of water per day or 1,5713,250 gallons a year. A letter of coordination nom Ed Nine. Florida Keys Aqueduct Authority, on March 29, 2007 signift that there is a 6" water main located in front of the Project and that it appears adequate to serve this project (4) Fin Protection-7 A six inch water main provides adequate now for fire protection (5) Florida Keys Electric Cooeerative (FicF1'1 _ FKEC has issued a letter of coordination stating there is sufficient capacity to service this project. (� Waatearater — Department of Health estimates 100 gallons of wastewater per day per bedroom. Key Largo Waste Water Treatment District estimates 145 to 167 gallons of waste water per unit/per day. Based upon the number of bedrooms in the &dhty the site is estimated to generate 29,100 gallons of wastewater per day based on the mom conservative estimate of 100 gallons per bedroom per day provided by the Health Department Currently the site has a DEP Package plant, permit 11014733. The current plant can accommodate up to 100 residences with minor upgrades dust will be permitted through the DEP. The package plant will continue to operate at the time until the site can be "hooked" up to the central sewer system which is operated by the Key Largo Waste Treatment District. Coordination Key Largo Waste Treatment district caf need that the &rce main is in place rung to the Key Largo treatment plant, however until the second Plants operatioud connection will not be available. KLWTD cou&med that by mid 2008 the plant would be operational and hook up available. Construction on Lakeview Gardens is anticipated to begin in the fast quarter of 2008 which would bring the initial units on line by the and of 2008 which would coordinate with operation of the Key Largo waste treatment plant. However, if they are not prepared to handle the wastewater the DEP package Plant will be online until such a time. 2129108 - Lalrtvtew Ggrdf ns Development fgreeo,mt Page 8 () - The Monroe County Land Development Regulations do not identify a numeric level of service standard for schools (such as 10 square feet of classroom space Per student). Instead, Section 9.5 -292 of the regulations requires classroom capacity "adequate° to accommodate the school -age children generated by Proposed land development The School Hoard uses recommended capacities provided by the Florida Department of Educatiom (FDOE) to determine each school's capacity. All schools have adequate reserve capacity to accommodate the impacts of the additional land development activities projected for 2005 -2006 school year The capacity runs approo mMoly 93 -95% of student stations which vary in number, from elementary, middle and high school due to class size reduction. The class size reduction was a result of a state constitutional amendment setting limits for the maximum allowable number of student in a class by the start of the 2010 -11 school year that was passed by Florida's voters in November 2002. Enrollment figures for the 20042005 school year and projected enrollment figures for the 2005 -2006 school year, show that none of the schools are expected to exceed their recommended capacity. School lhci* plans are based on enrollment Injections 5 years out And the utilization rate 5 years out is between SO to 90 percent confirming adequate capacity. If utihZKbQ i was projected to exceed one hundred percent then there would not be sufficient cawity. ( Housing -The median value (doUw) for a single family residence in Monroe County in 2000 was $241,200 and in 2005 was $683,200. (US Census Bureau, Summary File I (SF 1) and Summary File 3 (SF 3) and 2005 American Community Surveys). There is a current unmet aced of 7,317 affordable housing units in Monroe County. The Developer is proposing to redevelop thirteen market rate units and to provide I10 affordable units in the range of $199K to the maximum sales price under affordable housing guidelines. This project will help to meet the needs of affordable housing as outlined by GOAL 601 of the Monroe County Comprehensive Plan. (9) Fees - Impact Fees shall be waived ptuanant to Monroe County Code (MCC) and no payment shall be required 2129108 - Lakeview Gar*m Development dgnen ent Page 9 upon termination of the ninety -nine (99) Year deed restriction- Building permit application and building permit fees shall not be changed to developer, in sccorda= with the fees waived in Resolution 156}2007 for not for profit organizations. The Developer is not currently aware of and specific reaervation( or dedications) necessary for the development audwrized by this Agreement. An reservations and dedications fo public purpose is connection with this Agreement will be as required by the County's Comprehensive Plan and County Code Or 10081 Utility companies. Such reservations or dedications may include, by way of example, easements necessary for the provision of stormwater, utility. and wastewater services to the Property. •�. � '� • min .0 917! The following is a list of all development permits approved or needed to be approved for the development of the property es specified and requested in this Agreement: (1) This Development Agreement; and (2) Anmendment to a Major Conditional Use approval for development of the Lakeview Gardens site; and (3) Building and related construction permits for gradmM paving, drainage; each residential unit and aooeasorY structures, land clearing, and landscaping; and (4) Federal, State, regional, and local permits for starmwater nno$ driveway connections, and environmental (or endangered spocip) takings, when necessary and if required. 41 �L i!_h Ll._! r rr yi:'ii r :� �r. r � . __ r,r �.y The Board finds that the Development Program proposed for the Property u provided in this Agreement is consistent with County's Comprehensive Plan and Land Development Regulations. N , .y. r,r �� • r •�• r .•; /r r-. .1 ..2!!.N!<• a _ qr . 7 , . rr a �_•t {»jir yr {.. 2129108 - Lakeview Gw&m Dem kpment Agri mmt Page 10 There are no additional conditions, terms, restrictions or other requirements that are not already contained herein that are necessary by the local goverrmuent for the public health, safety, or welfare of citizens. an nl. .i Iii � �i The failure of this Agreement to address a particular permit, condition, term, or restriction ;hall not relieve Developer of the necessity of complying with the law governing said permitting conditions, terms, or restrictions. TJLV The County's laws and policies governing the development of the land at the time of the execution of this Agreement shall govern the development of the Property for the duration of the Agreement. County's laws and policies adopted after the Effective Dab may be applied to the Property only if the determinations rap kW by section 1633233(a), Florida Statutes, have been. made after written notice to Developer and at a Public hearia& 5. Amodmwt a Cancellgtion by Mtn This Agreement may be amended or cancelled by mutual consent of the parties, MW shall terminate upon the issuance of the last Iacdusioon y Housing Tracking Certificate. Prior to amending this Agreement, the Board shall bold public hearings as required to by law. The Board may revoke this Agreement if the Board determines t>w%h its annual review of this Agreement that there has not been substantial compliance with the terms and conditions of this Agreement, including aU amendments or extensions thereto. prior to any revocation of this Agreement, the Board shall hold two public hearings. At the public hearing(;). the Developer will be given an opportunity to rebut the assertion that there has not been substantial compliance with the requirements of this Agreement or any amendments thereto. If the Board determines that mvocadon of this Agreement is not necessary, the Board may amend the terms of the Agreement to provide for any reasonable condition necessary to assure compliance with the requirem o of this Development Agreement, and any extensions or amendments thereto. Either party or any aggrieved or adversely affected person may M as action for injunctive relief in the Circuit Court for Monroe County to appeal the revocation or amendment of this Agreement. 1119108 - Lakeview Gardew Developm w Agreeemem page 11 The initial term of this Agreement shall be ten (10) years from the Effective Date. This Agreement may be extended by mutual consent of the Board and the Developer, subject to the County's public hearing requirement. However, this Agreement shall expire after all terms and conditions have been nut by both parties. Within 14 days the Cleric to the Board shall record the Agreement in the Public Records of Monroe County. A copy of the recorded Agreement shall be submitted to the Florida Department of Community Affairs within 14 days after the Agreement is recorded. N this Agreement is amended, canceled, modified, wdended, or revoked, the Clerk shall have notice of such action recorded in the public records and such recorded notice shall be submitted to the Florida Department of Community Affairs. This Agreement shall be effective 30 days after its receipt by the Florida Department of Com nanny► Affairs. Notice of the effective date of this Agreement shall be provided by the Board to all affected parties to the Agreaaent. 1 .'1. =- The Board shall review the developmsew that is subject to this Agreement every 12 months, commencing 12 months after the Effective Date of this Agreement. The Hoard shall begin the review process by giving notice, a minimirm of 30 days prior to the anniversary date Bor the dfxdve date of this Agreeu=4 to the Developer of its intention to undertake the annual review of this Agreement and of the necessity for the Developer to provide the following: a. An identification of any in the plan of development ss contained in the Development Order, or in any phasing for the reporting year and for the next year. b. If the Development Order provided fbr phasing, a summaryr comparison of development activity proposed and actually conducted for the year. C. An assessment of the Developer's compliance with each condition of approval set forth in this Agreement. d. Identification of significant local, state and federal permits which have been obtained or which are pending by agency, type of permit, permit number and purpose of each. Any information required of the Developer during a review shall be limited to that necessary to determine the extent to whi the Developer is pig in good faith to comply with the to in of this Agreement. For each annual review conducted during years 6 1129108 - Lakeview Gardens De>welopmew ASrwMM$ Page 12 through 10 of this Agreement, the Board shall prepare a written report in accordance with rules promulgated by the state land Planning agency. The report shall be submitted to the parties to the Agreement and the State land planning agency. If the County finds on the basis of substantial competent evidence that there has been a failm to comply substantially with the terms of the Amt, the County may revolve or moft the terms of this Agreement in accordance with the Procedures set forth in Provision 5. 11. Effect of Contrary State or Federal Lawn In the event that any state or federal law is enacted after the execution of this Agreement that is applicable to and precludes the parties bom amPbrmg with the terms of this Agreement, then this Agremnent shall be modified or revoked as is necessary to comply with the relevant state or federal law. Prior to modifying or revoking this Agreement under this provision, the Board shill hold public hearings as required by law. Either Party, any aggrieved or adversely affected person, or the state land Planning agency, may file an action for injunctive relief in the Circuit Court for Monroe County to enfone the terra of this Agreement or to challenge compliance o f agreement with the provisions of ss. 163.3220 - 163.3243. 13. Notices. a. The parties designate the following persons as representatives to be contacted and to revive all noticea rcgedmg this AgreemenL For the Board: County Administrator County of Monroe 1100 Simonton Sam Key Wed, Florida 33040 with a copy to: County Attorney Monroe County Attorneys Office PO BOX 1026 Key West FL 33041 -1026 with a copy to: Growth Management Division Director Growth Management Division Marathon Government Center 2798 Overseas Highway Marathon, FL 33050 2129108 - Lakeview Gardens De►wtopnmt Agmen ew Page 13 For the Developer: Mr. Constantin ZAharia 9251 SW 14& Street Miami, FL 33176 with a copy to: Joel Reed Reed & Company Development Services, Inc 89240 Overseas Higbway, Suite 3 Tavernier, FL 33070 b. Any change in the person designated by a party to receive notices hereunder shall be communicated in writing to the representative of the other party designated hereunder. 14. Tba Agreement shall be binding upon the parties and their successors and assigns. This Agreement, or portions bereot will not be assigned by Developer, without the OWN written approval of County, and such approval shag not be unreasonably withheld. In the event of an assignment, the Developer aball provide notice to: County Administrator County of Monroe 1100 Simonton Street Key Wag, Florida 33040 County Attorney Monroe County Attorneys Office PO BOX 1026 Key West FL 33041 -1026 Growth Manage rent Division Director Growth Management Division Marathon Government Center 2798 Overseas Higbway Marathon, FL 33050 6 29108 - Lakeview GWrdew Demlvpment Agrecn mi Page 14 IN WTNEW WHEREOF, the lea hereto have caused the execution of this Agreement by their duly authorized officials es of the day and year first above written. Signed, sealed and delivered in the Presence of: Print Name: Witness —�– Name: 3� //9 /0a NORTHSTAR RESORT ENTERPRISES CORPORATION a Florida cor 'on By: Constantin Z,aharia Its: _President HOARD By: APPROVED AS' CORRECTNESS By: County A' STATE OF FLORIDA COUNTY OF MONROE Mayor O The foregoing hair mQwt was acknowledged before me this 28th day of February, 2008, by the B311do of Nortbstar Resort Enterprises Corporation, a Florida corporation, who is personally known me, or who has produced as t ca on and who did/ not take an oath. Notary Seal L s AL , -w Notary Public, State of1lorida Print Name: (.t r� 4,. i• t ,o a us F Mason mftv ew.- soo It ate, wawr.�.0"9089 o�w.rw,. r a rsssK 1131108 - Lakeview Gardens Development Agreement ",vvc Iy My Coaunission Expires: _4 . 2S' , 7.a t, = fTrr•� Page 15 Exhibits A Survey with Legal Description of Lakeview Gardens B Survey with Legal Description of Resort Site C DOAH Final Order Casa # 04 -1568 with Resolutions P55 -03 and P56 -03 D Resolution M -07 E Developmnt Order X104 -04 F Development Order 005-04 G Sample lnchrsionary Housing Trs cicing Ccnfta*s) 212910 - Lakvvww Gardena Development Agnmew Page 16