Item C20BOARD OF COUNTY COMMISSIONERS
AGENDA ITEM SUMMARY
Meeting Date: February 20, 2008 Division: Housing & Community Development
Bulk Item: Yes X No _ Department: Housing & Community Development
Staff Contact Person: James R. "Reggie" Paros/289-6002
AGENDA ITEM WORDING:
Approval of First Amendment to Ground Lease Agreement between Monroe County and Sea Grape
Apartments, LTD, to extend the deadline to commence construction of Project
ITEM BACKGROUND: At their August 15, 2007 meeting, the Board accepted the Sea Grape
Apartments -Phase 1 site in Marathon from the Monroe County Land Authority and approved a 99-year
Ground Lease. Provision 14.01(a) requires that the Initial Lessee shall commence construction of the
Project by the earlier of one hundred twenty (120) days after the issuance of the building permits for
the construction of the Project or November 1, 2007. It further states that the limitation of time for the
completion of the project may be extended by written agreement between the parties. A letter has been
received from Carlisle requesting an extended construction commencement deadline of May 30, 2008,
as the development approvals necessary to commence construction have not been received.
PREVIOUS RELEVANT BOCC ACTION: See above.
CONTRACT/AGREEMENT CHANGES: The attached amendment extends the deadline to
commence construction from November 1, 2007 to May 30, 2008.
STAFF RECOMMENDATIONS: Approval
TOTAL COST: N/A
COST TO COUNTY:
REVENUE PRODUCING: Yes No
BUDGETED: Yes No
SOURCE OF FUNDS:
AMOUNT PER MONTH Year
APPROVED BY: County Atty YES OMB/Purchasing N/A Risk Management N/A
DOCUMENTATION:
DISPOSITION:
Revised 8/06
Included X Not Required
AGENDA ITEM #
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CARLISLE
DEVELOPMENT MANAGEMENT CONSTRUCTION
January 29, 2008
Mr. Mark Rosch
Executive Director
Monroe County Land Authority
1200 Truman Avenue, Suite 207
Key West, FL 33040
Re: Sea Grape Apartments Ground Lease Amendment Petition
Mr. Rosch:
Provision 14.01(a) of the lease agreement between Monroe County and Sea Grape Apartments,
Ltd. stipulates in pertinent part that "Initial Lessee shall commence construction of the Project by the
earlier of one hundred twenty (120) days after the issuance of the building permits for the construction
of the Project or November 1, 2007." While we have already been awarded our building permits for
the project, the permits stipulate that we are unable to commence with construction until we receive
our SFWMD permit. As you are aware from our earlier discussions, we have submitted our application
for SFWMD permit and we expect to receive it within the next 30-60 days.
In order to provide for this protracted permitting timeline, we respectively request that you
accept an amendment to the lease agreement that would allow for an extended construction
commencement deadline of May 30, 2008. Should you care to discuss this matter in greater detail or
have any questions or concerns, please do not hesitate to contact me.
Very truly yours,
Charles S. Picciola
CSP/
Encl.
cc: Richard Deutch, Esq. (via email)
Susan Grimsley, Esq. (via email)
2950 SW 27 Avenue • Suite 200 • Miami. FL 33133 • 305.476.8118 • 305.476.1557
carlisledevelopmentgroup.com
FIRST AMENDMENT TO GROUND LEASE AGREEMENT
(Sea Grape Apartments Phase I)
THIS FIRST AMENDMENT (hereinafter "Amendment") to the Ground Lease
Agreement (hereinafter "Lease") is made and entered into in Key West, Monroe County,
Florida, on this day of , 2oo8, by and between MONROE
COUNTY (hereinafter "Lessor") and SEA GRAPE APARTMENTS, LTD., a Florida
limited partnership (hereinafter "Lessee").
RECITALS
WHEREAS, the parties entered into the Lease dated September 28, 2007 and
recorded in Official Records Book 2323 at Page 795; and
WHEREAS, the purpose of the lease is to allow Lessee to construct and manage 56
units of affordable rental housing known as Sea Grape Apartments Phase I; and
WHEREAS, Lessee has not received the development approvals necessary to
commence construction by the deadline established in the Lease and Lessee requests an
extension of said deadline;
NOW THEREFORE, in consideration of the mutual covenants and obligations
contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties
agree as follows:
1. Section 14.01(a) of the Lease is deleted and replaced with the following:
(a) Initial Lessee shall commence construction of the Project by May 30, 2oo8,
and shall substantially complete construction of all fifty six (56) Affordable Housing
Units within eighteen (18) months thereafter. The foregoing limitation of time for
the completion of the Project may be extended by written agreement between the
parties hereto.
[There remainder of this page is blank.]
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FEB-5-2008 05:21P FROM: TO:6071 P.3/3
2. The remaining terms of the Lease, not inconsistent herewith, shall remain in full force
and effect.
IN WITNESS WHEREOF, the Lessor and the Lessee have hereunto set their hands
and seals, as of the day and year above written.
(Seal)
ATTEST: DANNY L. KOLHAGE, CLERK LESSOR: MONROE COUNTY
Deputy Clerk
Signed, Sealed and Delivered
in the presence of two witnesses:
Printed Name
Printed Name
(as to Lessee)
STATE OF FLORIDA
COUNTY OF MIAMI-DADE
Mayor
t IAO� OE VED AS T FORY Y
LESSEE:
SEA GRAPE APARTMENTS, LTD.
By:
Lloyd J. Boggio, President
For TCG SEA GRAPE, LLC, General
Partner
The foregoing instrument was acknowledged before me this day of
2008, by Lloyd J. Boggio, as President of and for TCG Sea Grape, LLC, a Florida limited liability company, the
general partner of Sea Grape Apartments, Ltd., a Florida limited partnership, on behalf of both entities, who is
[ l personally known to me, or who [ J has produced a drivers license as
identification.
Notary Public
Print Name:
My Commission expires:
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