Resolution Consenting To Palm Tree Tax 3, Llc’s Conveyance Of Two Properties (Folio Nos. 30-6912-005-0050 And 30-6912-005-0100) To Monceau Real Estate (“Monceau”); Subject To Certain Conditions, Granting An Extension Until November 16, 2026, To Provide Mo

Description:

Whereas, On October 6, 2020, This Board Adopted Resolution No. R-932-20, Which Authorized The Land Exchange Of Two Properties (Folio Nos. 30-6912-005-0050 And 30-6912-005-0100) (Palm Tree Properties), Which Were Previously Conveyed By The County To Habitat For Humanity Of Greater Miami, Inc. (Habitat), With Palm Tree Tax 3, Llc, A Florida Limited Liability Of Company (Palm Tree); And Whereas, As A Condition Of The Land Exchange, Palm Tree Agreed To Convey Three Of Its Properties (Folio Nos. 30-6912-001-0460, 30-6912-008-1150 And 30-6934-003-0040) To The County, Which In Turn Would Convey These Properties To Habitat; And Whereas, In Accordance With Resolution No. R-932-20, The Palm Tree Properties Were Conveyed To Palm Tree On The Condition That Palm Tree Would Develop The Palm Tree Properties With Workforce Rental Housing Within Four Years Of The Recording Of The County Deed, Unless Such Time Was Extended By This Board; And Whereas, On November 16, 2020, The County Deed, A Copy Of Which Is Attached Hereto As Attachment A And Incorporated Herein By Reference, Was Executed By The Chairperson Of The Board And Recorded In The Public Records On December 16, 2020; And Whereas, The County Deed Prohibits Palm Tree From Assigning Or Transferring Its Interest In The Palm Tree Properties Without This Boards Consent (Deed Restriction); And Whereas, Notwithstanding The Deed Restriction, Palm Tree Conveyed The Palm Tree Properties By That Certain Warranty Deed, Attached Hereto As Attachment B Attached Hereto And Incorporated Herein By Reference, To An Entity Known As Goulds Bh, Llc, A Florida Limited Liability Company, Which Is An Affiliate Of Monceau Real Estate (Monceau); And Whereas, Monceau Also Sent A Letter To The Commissioner Of District 9, Dated May 19, 2022, A Copy Of Which Is Attached Hereto As Attachment C And Incorporated Herein By Reference; And Whereas, The County Became Aware Of The Unrecorded Deed On March 15, 2023, When Palm Tree Sent A Letter To The District 9 Commissioner, A Copy Of Which Is Attached Hereto As Attachment D And Incorporated Herein By Reference, In Which They Request Consent To The Sale Of The Palm Tree Properties To Monceau; And Whereas, The Warranty Deed Does Not Include Any Of The Deed Restrictions, Including, But Not Limited To, The Countys Reversionary Right; And Whereas, Monceau Has Represented To The County That The Warranty Deed Has Not Been Recorded In The Public Records, But Is Being Held In Escrow; And Whereas, Monceau Has A Successful History Of Developing Workforce Housing In Partnership With The County, And Monceau Is Currently Building 74 Workforce Housing Units In Goulds On A Development Site That Was Partially Conveyed By The County; And Whereas, Monceau Is Also Building 197 Workforce Housing Units In Naranja; And Whereas, Monceau Has Represented To The County That It Has Acquired Seven Lots, And Seeks To Record The Warranty Deed Pertaining To The Palm Tree Properties For The Purpose Of Constructing An Eight-Story 250-Unit Residential Structure That Will Include Workforce Rental Housing (Project); And Whereas, On October 10, 2022, Palm Tree Was Administratively Dissolved As More Fully Described In Attachment E Attached Hereto And Incorporated Herein By Reference; And Whereas, Monceau Represents That They Have No Means Of Revising The Warranty Deed Because Of Palm Tree's Administrative Dissolution; And Whereas, Monceaus Attorney, On Monceaus Behalf, Also Sent A Letter To The Commissioner Of District 9, Dated May 18, 2023, A Copy Of Which Is Attached Hereto As Attachment F And Incorporated Herein By Reference, In Which He Requests That The County Consider Extending The Timeframe For Completion Of The Project Through 2026; And Whereas, Monceaus Attorney Further Represents That Monceau Would Be Willing To Record A Restrictive Covenant In The Public Records To Ensure The Project Remains Affordable For No Less Than 20 Years; And Whereas, This Board Wishes To Consent To: (1) The Conveyance Of The Palm Tree Properties By Palm Tree To Monceau; (2) The Extension Of The Completion Date Of The Project Until November 16, 2026; And (3) The Recording Of The Restrictive Covenant To Ensure The Project Remains Affordable For A Period Of 20 Years, Now, Therefore, Be It Resolved By The Board Of County Commissioners Of Miami-Dade County, Florida, That: Section 1. The Foregoing Recitals Are Incorporated In This Resolution And Are Approved. Section 2. Subject To The Conditions Set Forth In Section 4 Of This Resolution, This Board Consents To Palm Tree Tax 3, Llcs Conveyance Of Two Properties (Folio Nos. 30-6912-005-0050 And 30-6912-005-0100) (Palm Tree Properties) To Goulds Bh, Llc, A Florida Limited Liability Company, An Affiliate Of Monceau Real Estate (Monceau), As Set Forth In That Certain Warranty Deed, Attached Hereto As Attachment B And Incorporated Herein By Reference, And To The Simultaneous Recordation Of Same In The Public Records With The Restrictive Covenant More Fully Described In Section 4 Below. Section 3. Subject To The Conditions Set Forth In Section 4 Of This Resolution, This Board Further Grants An Extension Until November 16, 2026, To Provide Monceau With Sufficient Time To Complete The Construction Of An Eight-Story 250-Unit Residential Structure That Will Include Workforce Rental Housing (Project). This Board Further Authorizes The County Mayor Or County Mayors Designee To Take All Steps To Effectuate The Extension Granted Herein, Including, But Not Limited To, Preparing, Executing, And Recording An Instrument In The Public Records Of Miami-Dade County, Florida, Subject To The Approval Of The County Attorneys Office For Form And Legal Sufficiency. Section 4. This Boards Consent To The Conveyance Of The Palm Tree Properties To Monceau And The Granting Of The Extension As Set Forth In Sections 2 And 3 Of This Resolution, Respectively, Is Conditioned On Monceau Simultaneously Recording In A Public Record The Warranty Deed And A Restrictive Covenant, In Generally The Form Attached Hereto As Attachment G And Incorporated Herein By Reference, That Requires The Project To Remain Affordable For A Period Of No Less Than 20 Years And Requires The Project To Be Completed No Later Than By November 16, 2026. The Final Form Of The Restrictive Covenant Shall Be Submitted By Monceau To The County Mayor Or County Mayors Designee And The County Attorneys Office For Approval. In The Event Monceau Fails To Comply With The Requirements Of This Section, This Board Hereby Authorizes The County Mayor Or County Mayors Designee To Take All Necessary Steps To Enforce The Deed Restrictions Set Forth In The County Deed, Which Is Attached Hereto As Attachment A And Incorporated Herein By Reference, And Such Other Steps As Set Forth In Section 5 Of This Resolution. Section 5. This Board Authorizes The County Mayor Or County Mayors Designee To Exercise All Rights Set Forth In The County Deed And The Restrictive Covenant, Other Than Those Reserved To This Board Therein, Including, But Not Limited To, Exercising The Countys Option To Enforce Its Reversionary Interest After Conducting All Due Diligence, Including Title Searches And Environmental Reviews. In The Event, The County Mayor Or County Mayors Designee Should Exercise The Countys Reversionary Interest As Set Forth In The County Deed And The Restrictive Covenant, Then The County Mayor Or County Mayors Designee Shall Execute And Record An Instrument Approved By The County Attorneys Office In The Public Records Of Miami-Dade County And Provide A Copy Of Such Instrument To The County Property Appraiser. This Board Further Authorizes The County Mayor Or County Mayors Designee To Receive On Behalf Of The County From Monceau, After Conducting All Due Diligence, Including, But Not Limited To, Title Searches And Environmental Reviews, A Deed Which Conveys The Palm Tree Properties Back To The County In The Event The Monceau Is Unable Or Fails To Comply With The Deed Restrictions Set Forth In The County Deed. Upon The Receipt Of Deed From Monceau, The County Mayor Or County Mayors Designee Shall Record Such Deed In The Public Records Of Miami-Dade County, Florida. Section 6. This Board Directs The County Mayor Or County Mayors Designee, Pursuant To Resolution No. R-974-09, To Record In The Public Record The Instrument Granting The Extension, Covenants, And Any Instrument Creating Or Reserving A Real Property Interest In Favor Of The County And To Provide A Copy Of Such Recorded Instruments To The Clerk Of The Board Within 30 Days Of Execution And Final Acceptance. This Board Directs The Clerk Of The Board, Pursuant To Resolution No. R-974-09, To Attach And Permanently Store A Recorded Copy Of Any Instrument Provided In Accordance Herewith Together With This Resolution.