Agenda 03/13/2018 Item #11C11.0
03/13/2018
EXECUTIVE SUMMARY
Recommendation to authorize staff to initiate the Invitation to Negotiate (ITN) process for two (2)
County -owned properties previously identified as suitable for the development of housing that is
affordable in accordance with the Community Housing Plan.
OBJECTIVE: To provide housing that is affordable in Collier County and to further the goals set forth
in the Housing Element of the Growth Management Plan.
CONSIDERATIONS: On December 12, 2017, the Board of County Commissioners (Board) directed
staff to initiate the Request for Information (RFI) process for the two County -owned properties previously
identified to be suitable for the development of housing that is affordable. Staff initiated the RFI process
on the following two sites:
Property
Folio#
Acreage
Amount Invested
Bembridge PUD
00400246406
5.11
$410,796 (EMS Impact Fees)
Manatee Site
00736520003
59.3
Acquired in 1973 for unknown amount
The RFI was used to collect comments and obtain input from the marketplace. The process solicited
information from potential developers as to the interest and potential for the development of housing that
is affordable on each of the two sites.
On February 9, 2018, ten (10) responses to RFI #18-7295 were received. All respondents stated their
interests in developing housing that is affordable on the two -specified County -owned properties.
Responses were received from the following groups:
• FL Star Construction Ft. Myers, FL
• Flaherty & Collins Indianapolis, IN
• Habitat for Humanity of Collier County Naples, FL
• JHM/RHD Naples, LLC Stamford, CT
• Rural Neighborhoods Florida City, FL
• Related Urban Group Miami, FL
• Salce Companies Naples, FL/Stratford, CT
• V3, LLC Washington, DC
0 Vestcor Jacksonville, FL
0 Wendover Housing Partners Altamonte Springs, FL
The ten (10) responses received varied greatly in level of detail and vision for both properties. However,
there were numerous consistencies which appeared throughout most of the responses. These consistencies
included:
• Provision of housing that is affordable for 0-140% AMI (Gap); rental and owner -occupied.
• Utilizing Affordable Housing Density Bonus (AHDB) on both sites.
• The land either being given to the project unencumbered or using a long-term 99 -year land lease
agreement.
• The use of 4% or 9% state tax credits as potential funding sources. Respondents who discussed
the tax credit component stated 4% tax credits would be a more realistic source for various
reasons.
0 Overwhelmingly, respondents requested that the associated Impact Fees be waived.
Approximately half of the respondents stated a significant reduction or deferral could also be an
option.
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03/13/2018
The use of Bonds, SAIL, SHIP, HOME, CDBG Sec 108 Loan Guarantee, CDBG funds, and
conventional mortgages were also presented as potential funding sources in various combinations.
After review of the RFI submissions, it was clear the visions for these properties were as unique as the
respondents themselves. All the responses received are attractive depending on one's perspective.
Therefore, it is recommended that an Invitation to Negotiate (ITN) is released to the public at large.
An ITN shall be issued by the Procurement Services Director with public announcement and competition.
An ITN is used when it is determined beneficial to issue a written solicitation for competitive sealed
replies to select one or more vendors with which to conduct negotiations. Details on the ITN process and
procedures will be contained in the solicitation. The ITN will follow the procedure outlined for an RFP
[Request for Proposals].
Within the ITN the County should request a more detailed proposal to include:
• Concept drawings for each property.
• Unit type and size including bedroom counts identified.
• Amenities included in development cost.
• Identify target group for each unit type.
• Per unit construction costs.
• Proformas for rental properties and proposed rental rates.
• Per unit market cost for properties to be offered for sale.
• Detailed soft funding incentives required from the County.
• Funding sources proposed to include soft debt items.
• Experience in housing development, financing, and operations as applicable.
• Contingency plan for alternative funding if competitive funds are not forthcoming.
• Requested terms for land acquisition (purchase, long-term lease, donation)
• Provide a comprehensive development timeline including specific rezoning requests to 100%
occupancy.
• Concisely explain how the proposed development meets the housing affordability needs as
identified in the Collier County Community Housing Plan.
• Describe the project and developer's long-term commitment to housing affordability in Collier
County.
Other loctaton specific ITN criteria recommendations for each site may include:
Bembridge
• Senior Housing Component
• Rental Units
• Special Needs Units
Manatee
Rental and Owner -Occupied Units
Maintain Park Amenities/ Open Space
Moderate and Gap Housing Component
These specific criteria recommendations and others will be developed in the ITN based on BCC direction.
FISCAL IMPACT: Any potential fiscal impact will be determined on a property -by -property basis
based on Board direction. Reimbursement of original costs may be required if properties were acquired
using impact fees.
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03/13/2018
LEGAL CONSIDERATIONS: This item is approved for form and legality and requires a majority vote
for Board approval. - JAB
GROWTH MANAGEMENT IMPACT: Use of County -owned parcels for the development of housing
that is affordable furthers the Goals, Objectives, and Policies of the Growth Management Plan and
specifically the Housing Element.
RECOMMENDATION: To authorize staff to initiate the ITN process for two (2) County -owned
properties previously identified as suitable for the development of housing that is affordable in
accordance with the Community Housing Plan.
Prepared By: Cormac Giblin, Manager, Grant and Housing Development, Community and Human
Services Division
ATTACHMENT(S)
I. Florida Star-RFI-18-7295—Development—of Housing_js_Affordable—on—Collier—County_Land
(PDF)
2. [Linked] Flaherty Collins- Collier County_ -_RFI_- FINAL (PDF)
3. Habitat for Humanity- Collier County_RFI (DOCX)
4. JHM- Collier County_RFI_-_Complete_Response (PDF)
5. Rural Neighborhoods- Neighborhoods_Project_Team_Letter_and_Concept_-
_Rural Neighborhoods_Offer Bid 18-7295 (PDF)
6. Related Group - Proposal_Letter to_Collier County_ -_2-9-2018 (PDF)
7. Salce- RFI 18-7295 (PDF)
8. V3 - RFI_18-7295_Response_V3_20180208 (PDF)
9. Vestcor RFI 18-7295 (PDF)
10. Wendover -Collier RFI Letter (PDF)
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03/13/2018
COLLIER COUNTY
Board of County Commissioners
Item Number: 11.0
Doe ID: 4902
Item Summary: Recommendation to authorize staff to initiate the Invitation to Negotiate (ITN)
process for two (2) County -owned properties previously identified as suitable for the development of
housing that is affordable in accordance with the Community Housing Plan. (Cormac Giblin, Manager,
Grant and Housing Development, Community and Human Services Division)
Meeting Date: 03/13/2018
Prepared by:
Title: — Community & Human Services
Name: Cormac Giblin
02/20/2018 1:47 PM
Submitted by:
Title: Division Director - Cmnty & Human Svc — Public Services Department
Name: Kimberley Grant
02/20/2018 1:47 PM
Approved By:
Review:
Procurement Services
Opal Vann
Level 1 Purchasing Gatekeeper
Public Services Department
Kimberley Grant
Additional Reviewer
Procurement Services
Ted Coyman
Additional Reviewer
Operations & Veteran Services
Sean Callahan
Additional Reviewer
Procurement Services
Todd Henry
Additional Reviewer
Public Services Department
Todd Henry
Level 1 Division Reviewer
Public Services Department
Steve Carnell
Level 2 Division Administrator Review
County Attorney's Office
Jennifer Belpedio
Level 2 Attorney of Record Review
County Attorney's Office
Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Office of Management and Budget
Valerie Fleming
Level 3 OMB Gatekeeper Review
Budget and Management Office
Ed Finn
Additional Reviewer
County Manager's Office
Leo E. Ochs
Level 4 County Manager Review
Board of County Commissioners
MaryJo Brock
Meeting Pending
Completed
02/20/2018 2:26 PM
Completed
02/22/2018 5:21 PM
Completed
02/27/2018 9:17 AM
Completed
02/27/2018 9:34 AM
Skipped
02/27/2018 3:50 PM
Completed
02/27/2018 3:54 PM
Completed
02/27/2018 5:27 PM
Completed
03/02/2018 3:01 PM
Completed
03/02/2018 3:15 PM
Completed
03/02/2018 3:55 PM
Completed
03/05/2018 3:27 PM
Completed
03/06/2018 2:38 PM
03/13/2018 9:00
AM
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February 6, 2018
Swainson Hall
Procurement Manager, Acquisitions
Procurement Services Division
On behalf of the Board of Collier County Commissioners
And the Community and Housing Services Department
3295 Tamiami Trail East
Naples, FL 34112
RE: RFI 18-7295 Development of Housing that is Affordable on Collier County Land
Dear Commissioners and to Whom It May Concern,
Please accept this correspondence as our response to the above noted Request for Information. I
write on behalf of the FL Star group of companies (hereafter referred to as "FL Star"). FL Star is a
Southwest Florida based full service real estate group including the following primary companies:
FL Star Construction, LLC — General Contractor and Homebuilding Firm
FL Star Management, LLC — Development Management and Property Management
FL Star Investments, LLC— Real Estate Investment Holdings
Our operations in Collier County currently include:
• Arrowhead Reserve at Lake Trafford — Among the lowest single-family homes for sale in Collier
County and the only active tract housing project in Immokalee developed by an entity other
than a not for profit organization
• Milano Lakes Apartments —Apartment complex with Essential Services Personnel priorities
• Sapphire Cove — Upcoming single-family home development on the Lord's Way
• Hacienda Lakes of Naples—a master planned community along Collier Boulevard
As required by the RFI document, the contact information below is to address any questions with
respect to this RFI response:
David E. Torres
FL Star Construction, LLC
7742 Alico Rd
Ft. Myers, FL 33912
david@fl-star.com
Tel: 239-732-5170
11.C.1
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11.C.1
We are encouraged by Collier County's desire to offer its properties to the development
community for the construction of affordable housing. As this process moves from an RFI to an RFP, it is
our hope that Collier County will provide clear guidance of the intent of its involvement. Please review
the attached exhibit A. We envision multiple scenarios for County and development sector involvement
and request that Collier County clearly express in the RFP how far it desires to be involved. At a
minimum level of involvement, the County would provide the land to a private sector developer that
would construct, finance, market and operate the project. At the County's highest involvement, it would
seek a "developer for hire" for the development/construction stage, but Collier County would remain
the owner of the facility committing the land as well as funding for.the construction of the project. It
would then remain as the operating entity. The higher the County involvement, the lower the ultimate
pricing of the homes will be whether they are for sale or for rent.
While ultimate County ownership and operation may result in the lowest available pricing for
housing, we do not believe this should be the route for the County to follow. Considering the deficit of
affordable housing, we believe that the private sector will be able to bring the project(s) to fruition at a
higher speed if it is acting independently. Furthermore, the County has multiple priorities that need to
be handled concurrently.
FL Star Approach to Future RFP
While we reserve the opportunity to adjust our plans, below is our preliminary guidance on how
we would approach the RFP upon County issuance. FL Star intends to form a joint venture with a to be
determined "not for profit" agency that specializes in the construction of affordable housing for sale.
The project(s) would include a portion of "for sale" product as well as a portion of rental product. Our
goal is to create a mixed environment where renters can interact with owners on their journey to
reaching the dream of home ownership.
We see the following synergies in a partnership of this nature. FL Star would provide its
expertise in the development and general contracting of high density product as well as in the long-term
management of the rental portion. Not for profit would provide its expertise in the marketing,
construction and qualification process of the "for sale" portion. The not for profit would further assist in
the preparation of grant applications and would serve as a conduit for charitable contributions that may
come from the philanthropic community, both which may be necessary to "buy down" the basis of the
project to reach affordable pricing.
Our request from Collier County in this process would be as follows. First, Collier County would
provide the land to the FL Star/Not for profit joint venture at no cost with the understanding that the JV
would meet certain to be negotiated criteria. Second, we request that the County create an Affordable
Housing Zone for the properties. The proposed Affordable Housing Zone ordinance would provide for
abatement of property taxes for a thirty-year period if certain to be negotiated criteria are met. Third, a
reduction or complete abatement of impact fees would be provided. Finally, variances would be
provided to minimize project costs as required by provisions in the land development code.
While we recognize there is limited detail in the above narrative, it is our goal at this stage to
provide a generic framework of a possible scenario that may be presented by our firm as a result of the
future issuance of an RFP by Collier County.
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We thank you for the opportunity to comment on this matter and wish you continued success as
you move your affordable housing agenda forward. Feel free to contact me if you have any questions or
concerns regarding this matter.
David E. To
11.C.1
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Executive Committee
Rev. Lisa Lefkow
CEO
Nick Kouloheras
President
John Cunningham
Chairperson
Ed Hubbard
VC - Operations
Craig Alk
VC - Development
Doug Peterson
VC - Family Support
Stanard Swihart, M. D.
VC - Family Selection
Rick Deal
Treasurer
L. Michael Mueller
Secretary
Directors
Douglas L. Rankin, Esq
Assistant Secretary
Penny Allyn
Kathleen Doar
Tom Fahey
Gene Frey
Curt Gillespie
Robert Gurnitz
Bill Hall
Patricia A I k
Rev. Dr. Kathleen L.
Kircher
Tom Messmore
John Paalman
David Pash, Esq.
Tom Pollak
Robert Rice
John Sampson
Barbara Sill
Bill Stephenson
Alleen Tostrud
Georae Wainscott
11.C.3
umanitye
Our vision is a world where everyone has a simple, decentplace to live.
Organization: Habitat for Humanity of Collier County Inc.
Organization Team:
-Nick Kouloheras, President of Habitat for Humanity of Collier County Inc. Nick
has twenty years' construction experience with fifteen of those years doing business
in Collier County. Nick helps run the largest Habitat affiliate in the U.S. and the
largest provider of affordable housing in Collier County. He has personally
overseen the acquisition, zoning, permitting and construction of 1,500 affordable
single family homes.
•RWA Engineering (Not yet under contract) RWA is a local engineering firm that
provides a full scope of services to the development community. Their staff has
years' experience in engineering, planning, surveying and design work in South
West Florida.
-Private for Profit developer (cannot publically list name at this time) Over twenty
years' experience in Collier County building a wide variety of product types. This
list includes single family homes, multifamily homes, apartments and affordable
housing units.
Successful projects:
Habitat for Humanity of Collier County is the largest Habitat affiliate in North
America and has been doing business in Collier County since 1978. It is the largest
provider of affordable housing in the county and has successfully built 2,100 homes.
Habitat for Humanity also acts as the mortgage company for partner families helping
provide interest free loans to allow the homeowner dollars to go further. Habitat has
successfully acquired, zoned and permitting ten communities in Collier County
along with a number of in fill lot sites.
Private for Profit Developer. This developer has permitted, zoned and built over 100
single and multifamily homes along with a two hundred and fifty unit apartment
complex. They have extensive knowledge of the land development process in South
West Florida and have built a wide range of product types designed for multiple
income levels.
11.C.3
Site concepts:
Bembridge PUD: With this site our initial idea is to develop rental units for families
and seniors making between 50% and 120% AMI. We believe that we can keep this
affordable for this income range if we are allowed to build sixty units. The
community would have a variety of floor plan configurations which would include 1
bedroom, lbath up to 3 bedrooms, 2 baths.
Manatee Site: At this site the idea would be to offer multiple products lines for
singles, seniors and families from 50% AMI up to 140% AMI. We would offer
rentals and single family ownership opportunities through Habitat and the for profit
developer. We would have banking options and product types that would be
designed specifically for the target income brackets. This would produce a nice
community with a true neighborhood feel.
Items needed from Collier County for both projects:
1.Guaranteed deferral, waiver or significant price reduction (60% or more) of all
impact fees.
2.Guarantee in zoning to go up to twelve units per acre.
3.Leniency within the Land Development code to eliminate or significantly reduce
onsite native vegetation requirements. There are provisions in the LDC to bring
these requirements off site for affordable housing. This would have to be done
without cost to the development.
4.Assistance from Collier County to offset any mitigation cost required through the
state and federal permitting process.
JHM/RHD Naples, LLC
C/o JHM Group of Companies
1281 East Main Street, Suite 201
Stamford, Connecticut 06902
P (203) 348-2644
F: (203) 348-2611
February 8, 2018
Edward F. Coyman Jr.
Director, Procurement Services Division
Collier County Board of County Commissioners
Procurement Services Division
3295 Tamiami Trail East
Naples, FL 34112
RE: Letter of Interest — Collier County Solicitation #18-7295
Dear Mr. Coyman:
I am submitting this letter along with accompanying information regarding the partners of a joint
venture between The JHM Group of Companies ("JHM") and Richman Housing Development, LLC
("RHD"), JHM/RHD Naples, LLC ("JHM/RHD-Naples") in response to the Request for Information that
your office posted on January 18, 2018.
JHM and RHD are two of the country's most well-known and well-respected developers of housing with
significant focus on affordable/mixed-income housing. The two principals of the companies, John H.
McClutchy Jr. and Richard P. Richman have been working together developing multifamily housing
throughout the United States since 1977. Together, these two companies and their affiliates have
developed in -excess -of 150,000 housing units. In addition, each company is a full-service real estate
company that is directly involved in all aspects of real estate development, including site selection and
acquisition, the land -use approval process, design, construction and property management, as well as
the utilization of state-of-the-art debt and equity structures. An RHD affiliate is one of the five largest
financiers and equity providers of Low Income Housing Tax Credit developments in the country.
JHM/RHD-Naples is excited about the possibility of working together with the Collier County Board of
Commissioners ("Board") to develop a plan that will result in the production of much needed housing
to meet the continually growing demand in Southwest Florida. We have reviewed the two sites that
the County is proposing and find that both are well located and very suitable for the development of
mixed -income housing. We are confident that we would be successful in working together with the
Board in an open and transparent process to create a public-private partnership to develop quality,
mixed -income housing that would be attractive to a wide range of the County's population. Throughout
this process JHM/RHD-Naples would be responsible for identifying and reaching out to local
stakeholders to ensure all parties have an opportunity to participate in the planning process.
An innovative collaboration between
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The Collier County Community Housing Plan, dated October 24, 2017, clearly identifies significant need
for new, affordable housing and states the County's interest in being directly involved in meeting that
need. JHM/RHD-Naples is confident that it is the private -sector partner that can best work together
with the Board of Commissioners and local stakeholders to address this issue. In anticipation of this
our staff has reached out to major local employers to discuss their needs. Through these conversations
we have determined that, provided with a long-term, sustainable strategy to address their employees'
housing needs, these employers may be willing to take a position in this process and make significant
investments in appropriate housing development structures. We are comfortable that we can work
together with the County to develop and implement strategies that will begin the process of meeting
its affordable housing needs for all segments of its population, including its seniors, very -low and low-
income families as well as its workforce families.
The partners of JHM/RHD-Naples have significant, long-term experience in all aspects of multifamily
housing finance, including the use of tax-exempt bonds, Low Income Housing Tax Credits and all HUD,
Fannie Mae, Freddie Mac and conventional finance programs. Its principals' long-term success in these
programs, coupled with strong relationships with the nation's largest lenders and equity providers
ensures that its developments utilize the most sophisticated financial structures, which receive the
most competitive interest rates and the highest equity prices. The principals of JHM/RHD-Naples
presently own and operate over 11,500 units throughout the State of Florida and have corporate offices
in both Tampa and West Palm Beach as well as satellite offices throughout the State. The partners have
been developing multifamily housing in Florida since 1973.
The team of real-estate professionals at JHM/RHD-Naples looks forward to working together with the
Collier County Board of Commissioners to develop quality, sustainable, multifamily, mixed -income -
housing communities that reflect the character of the overall community while addressing its growing
need for affordability. This is an exciting process that will truly enhance the entire community.
Please feel free to contact us at any time if you have any questions or require any additional
information.
Sincere ,
John H. Mcgltchy Jr.
President
An innovative collaboration between
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John H. McClutchy Jr.
President
In 1968, while a freshman at Nichols College, Dudley, Massachusetts, Mr. McClutchy, along
with a Connecticut-based housing developer submitted an application to the U.S. Department
of Housing and Urban Development ("HUD") under its Operation Breakthrough Demonstration
Program. In 1970 they were awarded a grant by HUD to construct 136 single-family houses in
Willimantic, Connecticut. This began his career in housing and real estate development.
After having graduated from Nichols in 1972, with a BSBA, he joined Union Bank in Los
Angeles, California, where he organized and managed its Owned Real Estate and Distressed
Real Estate Loan Department. In 1975 he left Union Bank after having successfully reduced the
bank's problem loans and owned real estate by over $400 million. At that time he became a
principal and executive vice president of Related Housing Company, Inc. (the predecessor of
CharterMac Capital, LLC, now Centerline Capital Group a subsidiary of Centerline Holding
Company a NYSE company). While at Related he specialized in the development of multi-
family housing. Related became one of the first and, ultimately, largest syndicators and
developers of multi -family housing in the country. During this time he worked with then -
Secretary of HUD, Moon Landrieu, and his staff to create new programs for the development
of affordable housing, including the first ever use of bonds by the private sector to finance
housing development.
In 1981, Mr. McClutchy sold his interest in Related and formed The Braeburn Development
Companies. Braeburn developed and constructed housing, retail and commercial
developments throughout New England. In 1986, Congress created the Low Income Housing
Tax Credit program and he immediately began to use it as a resource to develop housing. Since
then he has worked with state housing agencies throughout the country to use this valuable
resource to develop affordable housing. Mr. McClutchy has become one of the country's
leading experts on the use of Low Income Housing Tax Credits and tax exempt bonds for the
development of affordable housing. He speaks frequently for various public and private
organizations about the use of these programs and the development of affordable housing.
Mr. McClutchy sold the Braeburn Companies in 1988 and formed The JHM Group of
Companies. The entities that comprise The JHM Group of Companies are actively involved in
every aspect of real estate, housing development and the reclamation of environmentally
contaminated properties. They have concentrated their efforts on developments in
Connecticut, New York, Florida, Texas and Illinois.
In addition to his involvement in housing and real estate development, Mr. McClutchy is a
founder and Chairman of the Board of Nxegen, Inc. in Middletown, Connecticut. Nxegen is an
energy services company that works with its commercial, industrial, institutional and municipal
customers to use its proprietary systems to implement energy management programs to
control and minimize costs. Along with Nxegen staff he developed a proprietary process to use
a wireless network to control and manipulate equipment and energy usage remotely from a
centralized network operating center. This system received a U.S. patent in 2003. He also
holds several other patents and has patents pending for devices that control and reduce
energy usage and costs. In 2004 Nxegen acquired The EnergySolve companies in Somerset, N.J. EnergySolve provides
web -based energy services to a wide variety of retail, commercial, industrial and municipal customers throughout the
northeast and California. Mr. McClutchy is Chairman of the Board of EnergySolve.
In 2006, Mr. Mcclutchy formed Shamrock Stables, LLC. Shamrock is involved in the buying, selling and racing of
thoroughbred horses. It races its horses in New York, New Jersey, Florida and Kentucky.
Mr. McClutchy was a member of former Connecticut Governor Rell's Advisory Working Group on Housing; Connecticut
Housing Finance Authority's Committee for the Preservation of Affordable Housing; Urban Land Institute's
Affordable/Workforce Housing Council and Columbia University's Affordable Housing Roundtable. He is a former
member of The City of Stamford Mayor's Commission on Affordable Housing and was a member of a panel of housing
experts brought together to advise then -Secretary of HUD, Henry Cisneros. He speaks frequently as a panelist on
housing related issues and the development of environmentally contaminated properties for professional, municipal and
government organizations throughout the country. He has testified before Congress and the Connecticut state
legislature on housing related issues as well as before the Connecticut State Department of Public Utility Control.
In addition to his professional affiliations, he is a trustee of Kolbe Cathedral High School, Bridgeport, Connecticut and is a
former board member of the United Way of Stamford as well as a former board member and past president of The
Country Club of Darien. He is presently serving as Chairman of the Board of Trustees for Nichols College, Dudley,
Massachusetts.
._1=M/
1281 East Main Street, Suite 201
Stamford, Connecticut 06902
www.,-roupihm.com
Qualifications
Education:
❖ B.S. —St. Lawrence University
(Canton, NY)
Work Experience:
❖ Senior Vice President JHM
Companies
Vice President - Richman
Group Development
Corporation
❖ Senior Associate & Senior
Analyst - Richman Asset
Management & Richman
Affordable Housing Corp
Todd D. McClutchy
Senior Vice President
As Senior Vice President for The JHM Group of Companies, Mr. McClutchy is
responsible for overseeing all aspects of JHM's real estate and energy businesses
including site selection, overseeing project and development management personnel,
assisting project teams from building inception through completion, contract
negotiation and project financial proforma and budgeting.
Prior to working with JHM he worked as Vice President of The Richman Group
Development Corporation. He has participated in the development of over 2,000
mixed -income units. He has worked extensively with all aspects of the development
process including design, construction, marketing, management and mostly finance.
He has participated in the structuring of mixed -finance housing by utilizing tax
exempt bond financing with 4% LIHTC, 9% LIHTC, HOPE VI, HOME, AHP, Section 8 & 9
and several other Federal, State and local funding sources. He has brought almost a
dozen projects through either the construction closing process and/or the permanent
loan conversion process. Also, he was the lead underwriter for the firm's various
development projects in Connecticut, New York, New Jersey, Maryland, Louisiana and
Florida. He worked closely with public and private lenders in assembling closing
packages.
Prior to working with the Development Group he worked for Richman Asset
Management managing investor relations including requests and reporting
requirements for nearly 70 corporate investors. Subsequent to that he worked with
Richman Affordable Housing Corporation in their underwriting and due diligence
group.
Selected Projects Experience
Crescent Crossings (Phase I & II) — Bridgeport, Connecticut
$66 million new construction of 177 mixed -income, rental apartments under
construction on 6 acres with significant site and utility improvements
The Heights at Darien — Darien, Connecticut
$40 million new construction of 106 mixed -income, rental apartments built on 10+
acres with significant site and utility improvements
Rippowam Park Apartments - Stamford, Connecticut
$36 million gut -renovation of 430 apartments. JHM converted these once troubled
public housing units into mixed income housing
Croton Heights Apartments - Yonkers, New York
$25 million new construction of 60 mixed -income, rental housing units
Ashburton Senior Apartments - Yonkers, New York
$20 million new construction of 49 low-income, rental housing units for seniors
Grant Park at Croton Heights - Yonkers, New York
$150 million new construction of 300 mixed -income, rental housing units for families
and significant infrastructure improvements
Fort Washington Senior - Fort Washington, Maryland
$30 million new construction of 120 mixed -income, rental housing units for seniors
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4-1 �M iUI� FRP�10 u F1
Response to Request for Information #18-7295
06.
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JNPA GROUP Of COMPANIE'
JHM Group of Companie is one of the nation's preeminent
developers of affordable housing, is one of the most
knowLedgeabLe, weLLrespected and wellknown names in
real. estate development and finance in Connecticut. It and
its principals have been involved in every facet of real
estate, including all aspects of land use, planning, design,
site development, construction, marketing, property
management, asset management and finance. Over the
past fortyyears they have developed, financed and
completed over 155,000 housing units and in excess of 5.5
million square feet of retail and commercial space
throughout the United States. Over 20,000 of the housing
units it has produced have been afFordabLe and financed
with various state and federal affordabLe housing
programs, including Section S, Sections 221 (d) (4), 221 (d)
(3),2-35 and 236 mortgage programs as well as Low Income
Housing Tax Credits and taxexempt bonds. During the past
five years it has completed over 2,000 units and it
presently is developing approximately Soo units, 400 of
which are Located in Connecticut.
- JHM Property Profiles -
Response to Request for Information #18-7295
JL THE
M/C3r nur7 1M1IC�jH(�MiA}N
GRO4 OF GOMFA ES �H ROUP, P, INC.
Placed in service: 1997
lel iu � I
Units Produced; 320 - one, two, and three bedroom -
homes
Community Type: Mixed -income
Financing: HOME, LIHTC, & Private Financing
Team Members: JHM & The Richman Croup
- JHM Property Profiles -
in.
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40
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44
Response to Request for Information #18-7295
�'�THE
�0jpQlICHMAN
M/GRFCUU� �RQUP, INC.
E. Lee Apartments
) io,
Built - 1923 this 10 -story, 72 -unit
historic brick building will, in
collaboration with The City of Sa
Antonio, soon undergo substantiae
rehab with particular focus on
individual unit enhancements,
including new cabinetry,
floorcovering, energy efficient
mechanical systems and lighting,
energy star appliance and water-
saving fixtures throughout.
- JHM Property Profiles -
Response to Request for Information #18-7295
JL THE
�MfGRCDLIF-' 101ICHMIAN
GRO4 OF GOMFA ES � H nO V P, INC.
M;� n
Robert E. Lee Apartments
AW !Zlor%- WWOI
Affordability: 100% at or below 60% of AMI
7"1
Financing: UHTC, Federal. Historic Tax
Credits, State Historic Tax Credits, Private
Financing
- JHM Property Profiles -
Response to Request for Information #18-7295
JL THE
�MfGRCDLIF-' 101ICHMIAN
GRO4 OF GOMFA ES � H nO V P, INC.
�'1-, Z A T; r, A i A TO -1 'VA -DI-w •-, c• n T
- JHM Property Profiles -
Response to Request for Information #18-7295
�'�THE
�0ppQlICHMAN
M/GRFCUU� �RQUP, INC.
- JHM Property Profiles -
Response to Request for Information #18-7295
JL THE
�MfGRCDLIF—' 101ICHMIAN
GRO4 OF GOMFA ES � H E�O V P, INC.
CRESCENT CROSSINGS - Phases lA & 1B
252 HALLETT STREET, BRIDGEPORT, CT .......... ''-.'
CRESCENT CROSSING
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- JHM Property Profiles -
Construction Commencement: September -2415
❑ate Opened: August -2016
Type of Community. Transit oriented and mixed income multifamily units,
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Units Produced: 177 1, 2, and 3 bedroom apartments.
Construction Type, Wood construction
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71
Team Members: JHM Group of Companies, Richman Group and Park City Communities
Total Development Casts: $65 Million
Financing: Federal l_IHTC, CT DECD, CHFA, HUD CDBG-DR, Energy Incentive, conventional and developer
equity
CDBG-DR - $9,825,000
The Heights at Darien is formerly known as Allen -O'Neill Houses ("AON"), Darien, CT - AON
was a 53 unit existing CT State Moderate Rental housing development that was built in the
early 1950s and was owned and operated by the Darien Housing Authority. It has been
demolished and rebuilt to include the new construction 106 housing units and community
j building. Construction and permanent financing were provided by Citibank, as well as the CT
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Department of Economic and Community Development, the Darien Housing Authority and
The Town of Darien. This development is important as it has many of the same
�A• x, characteristics as the present opportunity including NIR -3b program requirements,
relocation, redevelopment, working with all stakeholders (residents, Town, Housing
- Authority, State, CHFA, etc.). Energy star 3.0 and LEER certified, Walking distance to public
.��. transportation including Metro -North.
x
Address: Allen O'Neill DCIVe Darien, CT 05820
� Rate Opened.
from October 2013 through 2014
Type of Community: Transit oriented and mixed income multifamily units
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Units Produced: 1051, 2, and 3 bedroom apartments'.
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Construction type: Panelized wood construction
Total Development Casts: $ 38.2 million
Not including land value estimated to be approx $12MM
Financing: Federal LIHTC, CT DECD, Town of Darien, Darien Housing Authc
conventional and developer equity
Team Members: )HM, Imagineers, Crosskey, Steven Winters, Viking
1 Relocation: Temporary relocation accommodations for existing residents
k"W. is
Response to Request for Information #18-7295
JL THE
��MfGRCDLIF-' ��1ICnHMIA�N
GRO4 OF GOMFA ES � ROUP,
V P, INC.
- JHM Property Profiles -
The new property will include an on-site management
office, community space with kitchenette, a business
center, fitness facility, and laundry facility. All units
will be LEER and E=star certified, --
Status: Construction Start 011201'
Community: Rental 25%, 50%, 60% AMI
Units Produced: 62 - 7, 2, 3 & 4 Bedrooms
Total Development Costs: $28.4 Million
Construction Type: Wood Frame - 3.5 Story
Financing: $1.700,000 CHFA LIHTC. S6.000. 000 CT D 0 H Funds. 54000,000 CT 13EC0
Brownfield, Developer, City of Hartford, Private Financing, FHLB Boston, Energy
Rebates.
Team Members: JHM, TRG, Housing Authority of the City of Hartford, Arthur T.
Anderson, Nutmeg Planners, Viking Construction, Crosskcey Architects, Freerni
Engineering, Fuss & O'Neil, Steven Winters
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Status: Construction Start 0512017
Community: Homeownership (60% AMI)
Units Produced: 29 - 3 Bedrooms
Total Development Costs: $12 Million
Construction Type: Wood Frame - 2.5 Story
New construction of 29 units of affordable
Homeownership housing will be the first of its kind in Financing: $5,000,000 CT DOH Homeownership Funds, $5,000,000 Private
the Blue Hills neighborhood -All units will be Financing, $2,000,000 CT DECD Brownfield, CHFA HTCC Funds, Federal
•. available at bow AMI. Construction includes removal Home Loan Bank, Energy Rebates.
" of blighted and vacant structures on centrally
located parcel in the city of Hartford which is planned
to fuel economic growth and vitality. The Team Members: JHM, TRG, Housing Authority of the City of Hartford,
development is intended to pursue a designation as a
— LEEI] (Leadership in Energy and Environmental Arthur T. Anderson, Nutmeg Planners, Viking Construction, Crosskey
Design) from the U,S. Green Building Council. The site Architects, Freeman Engineering, Fuss & O'Neil, Steven Winters
will be designed to be walkable and pedestrian
friendly and to encourage the use of bicycles and
public transportation.
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A QUARTER-CENTURY OF EXPERIENCE
Over the last quarter-century, Richman has grown to be America's 7th largest rental apartment owner, with
a portfolio value approaching $20 billion and twelve regional offices serving communities in 49 states,
Puerto Rico, the Virgin Islands and Guam.
This growth is due to Richman's flexibility in accomplishing its development goals - by partnering with large
financial institutions, for-profit developers, smaller community-based non-profit organizations, and by
creating effective public/private partnerships with state and local governments. The Richman Organization
has a national reputation for structuring creative development financing and has been able to use its
investment banking affiliate, Richman Real Estate Investments, Inc., one of the nation's largest providers of
equity for residential apartments developers, to provide the financing necessary to accomplish its
development goals. Richman can also deliver complete in-house development services, including site
selection, marketing and management services and, in some states such as Florida, even construction
services.
By possessing comprehensive and integrated development and financing capabilities, The Richman
Organization has become a leader in the development of high quality luxury and affordable rental and for -
sale housing products, serving both families and senior citizens.
INVESTMENT 6 -MORTGAGE
BANKING
OUR SPECIALTIES
DEVELOPMENT
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PROPERTY MANAGEMENT
ASSET MANAGEMENT RESIDENT SERVICES CONSTRUCTION
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CUTTING-EDGE APARTMENTS
IN DYNAMIC MARKETS
Pictured from left
f --ilii--- --Nflfl
THE SEDONA —TAMPA, FLORIDA
PARC AT WHITE ROCK — DALLAS, TEXAS s *i ",-
PALM RANCH — DAVIE, FLORIDA
PALM RANCH —DAVIE, FLORIDA
INFINITY LOHI — DENVER, COLORADO
GRADY SQUARE —TAMPA, FLORIDA
EPIC AT GATEWAY — ST PETERSBURG, FLORIDA
z
SAGE AT CERRITOS
AZURA,AURORA
EPIC AT GATEWAY
MARKET -RATE PORTFOLIO
Recent Developments:
THE SEDONA - TAMPA, FLORIDA
PALM RANCH - DAVIE, FLORIDA
INFINITY LOHI - DENVER, COLORADO
EPIC AT GATEWAY - ST PETERSBURG, FLORIDA
AURORA - TAMPA, FLORIDA
PARC AT WHITE ROCK - DALLAS, TEXAS Coming Soon:
PALM RANCH - DAVIE, FLORIDA LENOX AT BLOOMINGDALE - BRANDON, FLORIDA
GRADY SQUARE - TAMPA, FLORIDA FII - SAN DIEGO, CALIFORNIA
SAGE AT CERRITOS - LOS ANGELES, CALIFORNIA KI - SAN DIEGO, CALIFORNIA
AZURA - KENDALL, FLORIDA THE MORGAN - ORLANDO, FLORIDA
THE AMALFI - CLEARWATER, FLORIDA
MARKET & MIXED -RATE
COMMUNITIES
From Left:
BELLEAIR PLACE - CLEARWATER, FLORIDA
THE BALTON - NEW YORK, NEW YORK
THE KENTSHIRE - MIDLAND PARK, NEW JERSEY
i��ilil�"
W.
WIN
BAYSIDE CLEARWATER, FLO
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a•4uu eaA �'E�r �E6 w? ,gyp.
AFFORDABLE
COMMUNITIES
-
HLivi 13'A'Aw LLur'lu l
k :
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4kUS�`"�k
7- A-Mr4
SUMMERCREST - FRESNO, CALIF'
PPOWAM PARK - STAMFORD, CONNECTICUT
AFFORDABLE
Florida:
BROOK HAVEN
CLAYMORE CROSSING
CRISTINA WOODS
HUDSON RIDGE
KENSINGTON GARDENS I erII
MARINERS CAY
SPRING HAVEN 1611
AUTUMN PLACE
CROSS CREEK
FORT KING COLONY
HUNT CLUB
LAKE KATHY
MORGAN CREEK
ROYAL PALM KEY
SABAL RIDGE I &II
SPANISH TRACE
BAYSIDE COURT
BELLEAIR PLACE
BENNETT CREEK
BOOKER CREEK
CLEAR HARBOR
SAVANNAH SPRINGS
CLARCONA GROVE
LAUREL OAKS 16 II
MANATEE COVE
PARKWAY PLACE
RIVERCREST
TIMBER TRACE
TIMBER LEAF
WINDOVER WOODS
ALLAPATTAH TRACE
BROWNSVILLE VILLAGE 3 64
COLONIAL LAKES
GARDEN WALK
LAKE SHORE
POINCIANA GROVES
RIVERVIEW HOUSE
SAN SHERRI
BRANDYWINE
COLLEGE PARK
GRANDE OAKS
MERIDIAN POINTE
MIRA VERDE
ST LUKE'S LIFE CENTER
SUMMER LAKES 1611
VALENCIA GARDEN APARTMENTS
BELL RIDGE I
SANTA FE 1611
STODDERT PLACE
PORTFOLIO
California:
New Hersey:
HARVARD COURT 16 11
MEADOW GREEN
MT. WHITNEY
THE KENTSHIRE
ROSEWOOD VILLAS
PINE RIDGE PLAZA
SIERRA VISTA
New York:
SUMMERCREST
SUMMERSET
422 WARBURTON
SUMMERVIEW
BETHEL SENIOR
VALLEY OAKS 16 11
SHAMROCK
CORNERSTONE
DOUGLASS PARK
MOUNTAIN VIEW
METRO 125
SHASTA COURTYARDS
THE BALTON
EMERALD POINTE
STONEGATE 1611
Connecticut: Texas:
CRESCENT CROSSINGS 1611
HIGH POINTE PLAZA
FLORENCE VIRTUE
MEADOW BROOK PLAZA
RIPPOWAM PARK
MOCKINGBIRD LANE
RIVER COMMONS
PINE RIDGE PLAZA
WHARFSIDE
WALLER HILLSIDE PLAZA
Maryland:
FIELDPOINTE
LANDMARK
AUTUMN WOODS 1611
Ile.,
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ACTIVE ADULT
L I V I NG
62+
0 0 0 0 0 0 0 0 0 0 0
5 Communities Located in
California & New Jersey
BAYVILLE, NEW JERSEY
HIGHVIEW TERRACE, NEW JERSEY
THE PINES AT TINTON FALLS, NEW JERSEY
GRAND PLAZA SENIOR, CALIFORNIA
VENTANA, CALIFORNIA
55+
• • • 0 • • • • • • 9
11 Communities Located
in Florida, New Jersey, New
York, California & Texas
SANTOS ISLE, FLORIDA
GRAND RESERVE, FLORIDA MEADOW BROOK, NEW JERSEY
VISTA GRANDE, FLORIDA ST. NICHOLAS PARK, NEW YORK
WEST BRICKELL TOWER, FLORIDA WAYSIDE OAKS, NEW JERSEY
WEST BRICKELL VIEW, FLORIDA SIMMONS GARDENS, TEXAS
SPRING MANOR, NEW YORK SYCAMORE SENIOR, CALIFORNIA
ACTIVE ADULT
COMMUNITIES
Pictured from Left:
THE PINES AT TINTON FALLS - TINTON FALLS, NEW JERSEY
WEST BRICKELL TOWER - MIAMI, FLORIDA
SANTOS ISLE - TARPON SPRINGS, FLORIDA
VISTA GRANDE - MIAMI, FLORIDA
SYCAMORE SENIOR VILLAGE - OXNARD, CALIFORNIA
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RURAL NEIGHBORHOODS
N
Pu+i&? Curable Place -5 for Working Furni�IiQ_
Prek Office i3m X43529, 19308 SW 3W- 5t{eei, Florid City, R 33034 ,)
Telephone M5-242-2112 Facsimile 305-242-2143 N
To Col he r Cou city Boa rd of Gou rrty Commissianeu
F r: Steven Kirk
Pr.2Sielent
Re. SOrAcit r6un d18-7245 DeveloPment of Hausr g that is A rdbbk err Coffrer C -panty
Owned f acid
Ru ra I N -e ightiorhoods is pleased to s ub m it th is f ette r t ra mmitti rig its respi)ri se to Soli citation.4IS-
7 295 Dene lop ment. of Housi rkg th at i s Afforda b I& n rt Collie r Cou my Owned La nd, The I ead Pa i rrt
of contact fo r the Nei ghb-a rhoods Proj ect Tia m is:
contact I nformat ion
-Steven Kirks Plresidena
Rural Neighborhoad5, irncorpomtcd
5e': E'ki rk c--ar rrai I nPi hhhorhPoc-s,a r
19308 SW 3W" Weed, BO 1� �43529r Florida City, FL 33034
T30-9-242-2142 C ��5-29� 110 F 305 2�2-2143
Than k you for the prctessfonai olpportunity to i rrtrad u ce ou r Neig h burhaad:5 Proje-t Team, -and disVV55 ou r
concepts, appfwch and the incentives rrecessa ryr to me -et the growing riern and for a ffi�rdahl a aril
wa rkfcrce housl ng in Colli-er CQunty, I look forward to an opportu n ityr tD discuss Ou r respa nse at -rcur
mi-meni-ernce.
Since
5#eve Kirk
sident
Packet Pg. 124
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RURAL NEIGHBORHOODS
N
O
6WIding Lrvahle Plor-ez for Workfrrg FamrJrCD
Post Of oe Box 313629, 19308 SW 3800 Street, Florida City, FL 33034 ,n
Fe€ephwe 305-242-21Q. Fac--rn► le 305-242-2143 CCD
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1a: Col lie r County Boa rd of Cou my Corn rn i ssi onees
F r_ Stcve rE Kirk
Fresid ent
Re_ Solicitation #13-7295 D.Pvelopmerpt of Housing that is Affordubie an Collier County
Owned Lard
aa' February
g-'', 2�
R u ral N ei ghbi)rhoads is pleased to submit th is response to Sol i6tabon #18-7 295 -�kekrejcppmen t Of
Hau5in!g that is Affordable on K? -r County Owned Lgrrd on behalf of its as5em bled professi on a I
team.
The Neighrborhood5 Project Team
Project Developer
Rural Meigllborh:ood$, I ncn rporated, serves as Projea Develope r. Rural t+ e�ighborfhaods (R ht) is a natloriaf
awa rd -winning non profit developer "&rl;l rtg )ivab�e PUtL-s"for tiva rking fam iiic-s, Stn iors and speda I
needs houwhoJds throughout South and Southwest Florida. RAI h.as developed 1,800+ housing u n its,
invested $225,000, in affordable a nd workforce houLsin,g and delivers profession@ I amt and property
mar agLme nt to a 1,725-u n it portfolio. Its real esta to dewelopmertt investments S4 rm Collier, Miami -
Da d -L-, Head ryr, NiElsboro�h, Ckeediobee. Polk a rfd 5a int Lurie sties. Past suco ssfirl affarda We and
workforce housi ng a4m m unitie.5 include,
• EMr1.�iddes 1oilage — a $60M, 120 -acre mixed use grillage ccmprir�ed of 539 si ngl-e-carni Iy and
gown -ha -,se!,- homes, X130 special needs hou51 ngr neighborhood
re-tailfcffiee mail, mmmunily health and child development uenter5
and 10 -acre publ Ic park situa#ed in u n incorporated fVl iami-Dade
County. This planned developmeryt evidences R N's skltl a:nd success in
large, wixed -use projects targeti rr8 low a nd moderate households -
Packet Pg. 125
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• Orchid Greve oad Cypress Cove - two WLunit
Heusi ng Credit comm u n iti es in Miami -Dade and
Pofk COUnties. These evidence RN'S success in
securing $29M in Florida Housing :Finance
Corpora tion tax credit i nve5tment 5ervi ng
households at fiO% AML
• PWOYwag Creek Corr,man5 - ark inmrgene rational rental community QN- ring
senior and fa m i Ii es housing choices oommerisu rate with social a nd workforce
needs iro Hendry Courny- RN has generatcLd the qn Iy afforilahle and workforce
investment in Iahel lei not orrice but twiFce, over the past (fecadc,.
+ Reserve .al. Edexr Gardens - a phased 92 -unit rental coin munity preserving local
wetland and upland ha 4itat i n aura I Col lip r while to rgeting working famil ids earni ng and 80%
AM I. Eden Gardens exhibits RN's skill at meeting a nvircnmental challe ilges i n income -restricted
properties,
■ EsPerarrza PJace Ja rid redevelopment of a 30 -acre Parcel in Oilier ecim#rised iyf 84+ ren tal units,
-62 homeowner -ship pa roeis and speaa I needs housing targeting households up to 1 AMI-
Espe ranza reveals RN's skill in bringi ag develCpment partners together in area ting a mix of housing
products from homeowwarship #i? renta I apo rtn'w nts to meet the si,eMer meds of local rf-5k�ents.
eAddtkMO� Prafect Pr ies are Available upon Request)
RN is a recipient of American Business MpLd ia's Littleford Award for Corporate Corf1munity Se nrip.,
retugmii ng OWapaniesr orga ruzations and individuals for out5tand ing Community service airned at
al lL!rYiatirtg a tical social pr0blerns, the Fannie Mae Foundation Maxwell Award of Fxr,01enca in Law
Joconne Housing and the Housirig Assistarrce Cou waifs Skip Jason Com munity 5erVice Award fo-r regia nal
housing leadersbip- It is a chartered rnem ber of Neighborworks Arnerica, a public Corporation created 4
Ccingres5 to auxedit inr6ependeryt housi rr� 0rga r;izations having a record of excel lence a nd use of be.5t
practices. St-ew n Kirk, President, has led Ru ral Neighborhoods si nc.e 1944 and is a recognized expert in
the housing field- Kirk was appointed to Governor Jeb Brush's Hurricane HousPrC Tank Force i rr 2DD5. He
nvntinues to serMe an real. estate and pub lic pal icy corrrmithees of several na tiona I orga n izatior includi ng
NeighborWcrks Amcrica and Natiornal Association of Latin Currununity As_5et Builders.
Afrhitectural Design
David Corban Architect, PLLC, serves as Project Ar+iitect David CxWban has
pra diced architecture in Soutbw-est Florida since 19%9- He has been at the
forefront of the- FiDrf4ja design community and the architect of some of Cagier
County's most recognizable projects including the Naples Beta n ical Carden. His
Rhilcsophy is weir matched to ereatir% dwell iris whi-ch target the local
workforce. Corban b�plieves a rchiteeture Phar, the power to make ernpfoyees more
productive, businesw:5 more profitable, a acme more f Ivabhe and the aesthetic experience mernora b le
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David Corban is expert in muftifavniFyr a rdiite_—ture. His work ittiol udes the Naples Bay Resort, a �4-acre.
240 units oomrnunkyr, Bela Sera Suites (100 unrM) and various mixed -LL -5e retaidf residential FifthAvenue.
Reis a LE ED accred iter profession@ I_
Corbar7 Is the recipient of th.2 prestigia us Audrey Nelson Coram unity -
Development Award for the design of Im mokalee public spare, His Haldeman -
H Duce was. named a ne of the tarp 100 bui Iding$ built i n FI arida in the last 1�*
years by the Florida AIA. The Florida Southwest American Irislitute of Archftects
inamed David Corti -an Fts 2017 Mi2rit Award WiniieLr faf New Work 85 well as F
U n bui It Desigro fol Iowirkg on the heels of si:m[lar 2016 a ri-d 2014 honors_ -. �.. .
C vif Engineering, Land Surveying and Land Pianning
CradyMinor pirovides er gine ring, planning and suryewinp .services to the
N eigh bonccm ds Project team. The firm ha -5 been active in Southwest Florida's
growth si ncR 1 9��3 1. Its current Projerr.5 i rmlude the Gordon River Gree nwayr
and the Big Carkscrew Island RCzgional Park - C/fvl's team pa rtici pati on ernsu res
cost eEfetive design that LDnsid.er:5 po;itical sensitivitie.r, and meets
envircrkmental requirements arid comm niGty needs. Efforts will be led b�y
Wayrw Arrioldr A.3_C_P_ as Pri ncipa I Planne r.
Lan d Use
Rici,a r -d Yovanm_iCh, a ria m e sha rehol d e r in ColemanNnva n-ovfch ft ster, SL -r p.5 a.5 counsef cn real estate
coni nigoonstructiort a rtd la nd-t35,e rrmatters_ He is a Ularti ndale H u h bel AV Preemi ne nt rated a tLonneyf and
is reccgnimd a m Dng Gest lawyers i n Amerira(9 5'Ince 2010. H e was an Assistant County: Attorn"r Collier
COU n Ly From 1990-1 r focusing on land development and construction matters. y0Var1OvicF3'5 exJerti5e
incl odes pl:armed unit devela pine nt, Sits development plans, zan ing and canditionaf a nd provisiona I uses,
Tax, .l eaf Estate -acrd Legal
Ga ry J. Cahen and R&ert Cheng 51harehol-dcts i n Lice Miami Office of Shutts & Bowe n L LP. serwc as tounse.i
on tax and fFna-rice issues_ CDFie n is a NV artfndale Huhhel I AV raged attarney and i5 re4mgnizod a m crtg &est
Law y-ers in America in Tari Law since 2p07- He provides re presentatlo n i n the structuri ngr ii nanci ng and
rfevuflopme nt of affordable and workforce housing i nr,lU¢i n jS the Swridicati Dn iYF Federal low-income
hctrsiryg tax Eredixs a rtd secu ri ng su heirdinate govern ment debt. Robert Cheng is expert i n comp4ex real
estate transactions i ncludi ng the acquisition: develcppn,heint, construction a nd fina ncirkE for offi0e build ingsr
rets i I ocntersr Frames and muttifam ifyr residential properties. HL% freq uently handles p rojcots that include
multiple layers Of equity investment a nd debt Fina rrcin� from pu bl is and priti w. 50urces.
Notional Technicai Assistance and Corpital Sigardng
Nationai housing organization. i n -dulling Loral Initiative Support Corporation (LISA, National Association
0f Latino Community Asset guilders (NALCA113), E nt�rprise Comm ur iter Pa rt:ners and Neighbor orks
Ameri-ca wi I I serve as national a dvi 50rs to Rura I N e igh ho rhaads_ Fadi will offer consul rant and tech n ica I
a5,5i.51a-ice to local .90vemment and R N oa pate ntia I bortidr New Market Tax Cred its, Housing Credits a nd
other be nefic is I fins n6ng sources_ The investment arms of USC and E nterpri se Communftyr Partners Wifl
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Provide com merca 1 and residential tax credit "ication for credits generated by the propose -d 0
development_
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Concept and ApprGa ch
Our vi:5npn i5 i uuffd ng lrvobfe pfacps for tlhosc w#tia care fpr pati a nts in our hQspita Is, teach ClAdren in ou r
schools. respond to each citizen in times of erner8ency and offer custprrker serwioes to residents and
tourists A ke. I is not j first build ing a house_ Livable places are rnernora We communitles where seniors a nd
families Can I ive and grow, be neighbors first, then good neighbors, It's a place to pursue persona I hopes
and dream s_ Si mply put, W5 a ne ighborhocd.
The Bembrfdge P U D a nd Ma nartee sites a Iffier unique opportunities a nd rhallenges as potentia I of uTdable
a nd workforce housi ng comms,jnities, Bembridge offers a sma 11 5.1- Arne pa reel fp a well. eSta blish E(j
residential coa-r MUnIty. TO im m plement a sense of neighborhood, the Developer m u5t choose 5iMr shaper
a rchitec tore a rid refationship5 to tt)e street Lhat contri h ute to a successful and harmonious broader
nk~ighbprhood. M Moor enusit fQster its own se rise of on-site community — landscape and design features
that make for a memorable ae.ghetfc expefienoa and purposeful amarki ties like fitness and business
centers that accommodate a qua Iiry r-ncaE experience_ The Neijo borhocmds Project Team Sees Bembridge
PUD as a poteritia I site for senior or sma 11 apa rtment Jeri rk�',r a-9, 1- and 2 -bed r Porn un its. Th is era files the
Developer to elect a compatible scale, aooentuate site and landscape aesthetics and accommodate
needy parkfrr$.
Ma rWee's larger ap 2n 2t0eage Uffers a more broad, mixed -product approadi- It is well- suited to Planned
Unit Development in wh di phased constrLwtion can be rna.5sed of clustered_ Its 5-uitabilfty as a pla rnned
resi rirr 71 development ar one allowing :tion -residential uses should be conce ptuarl ized arra: after
L ommunity i nput. Nonetheless, its am ple acreage ena bles dubhouse, chi Id Carer recreational, greerk space
and rreigl ht Drhoad oartivenience uses that wUl support the daily needs of workforce residents_
Development of the MAnatee site as a small, intergeneratipna I of Ilage Where a pa rent pan drop Off his or
her chi Id at on-site Chi IdcaTe on route to work, earol I a hvol-age child in a nei�,,hborhood aFtersehoQl
program a nd sen iors can reside i n 55+ commt,riity but sri II enjoy{ i nteraction with local child recti is ce ntra I
to #fie ighborfis. Project Teams' concept
T;he Neighborhoods Project Teams Griew the subject paroels as rental pr rtles due to (1) priorities
expressed irk rh4e RFI, and (2) incentives provided by county awned land that may mare easily accrue to
rents I developrne nt-5. It is open to consi-de r creation of a la nd trust for a portion of the Manatee Site
targeti ng home ownership: but deed restricts sa les to incomes uatified home buyers Grp to ga p levels. Thr-
project team also priprftizes the deyel opment Qf a significant num bet of senior units.
Skilled, creatfve uses of ava ilable fire noa I tools is integral to clash conce pt. The N e ighborl kKmd.5 Project
Team shall use recognized Federal, state and Focal best practices to finance affordable and workforce
housirV_ These include;
Low- Income H ousing Tax Cred its (9%HC)
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R N a nd its tea rn aha I I pursue an award of ❑ornpetitive LOw-IncOrne Housing Tax Cred its th ro ugh
Florida Housing Finance Corporation allocations for Medfurn Counties- E$timated per project
eguGtg of up to $13,500:000 per r.ntai project IS c0rnpetftively+ awarded bV FHFC W six to eight
projects each yea r. 9%HCs provide 2-5 ti roes more equity than Tax • Exempt finds deserFb l
below- it is the favored apptnach to serving househQIi;15 ea rn i ng Up to 609 AMI.. Donated 9a nd
and modest addi tions I gra nrt funds corp bine with FHA or cortrmercial debt capital to serve eligible
households at rE?rrLs and Util itFes no greater than 309 of housei,a9d inc me- Awards of 9%HCs a re
highly competitive._
The Neighborhoods Project Tea rn and Colf ier may be @Wu to i mpmve project competftiweness in
obta i n i ng FH FC 9%H1Z!5 credits by designati ng the Be rn bridge ar Manatee sites local revitalisation
initiatives. This place , Credits in a sma Iter appl iu at fieid I n which subject sooriing guides prpject
awa r -d s-
+ Tax-exem pt Housing aonds t 4% HC5
In cantrast use Of Tax-exempt Housirq t3onds thrau&rh F+i FC or tete Coll ier N0usfrg Fina ncc Agency
is m(ire assured. There is no lira feed pool OF 4%FICs. For technical reasons, 4.%HCS must be usad
for properties with strong debt S1 y milliary
a rrd iuw operating expa-rrses,
Aental properties using IOHC
must be able to support debt
equal to ane -half their Va I uer
The Neigh b0rhvods Project
Team can uriliae 4%HCs if it can
bring a large afflMnt of
alterrtiate fundi ng i n o the
Project t4 pay off that portion eif
the bands that cannot be
In this scermlo. the
Peal requires about
in nc0n-
iqLihr Financing. The
band 4a;11 Figures over Z-qurty
ke -" :I Ii.I'rr• I.
U.2 rEri
72.9 pall
gond
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supported by property operations. It looks to Collier to prmftie signiflcar11 soft financial sources -
This approach is likely feasiibte on the. hila natee site givers (1) its potentia I for high -u n it count thus
reducing Frigh bond tra nsactinnai costs, and (2) the Ca]tier market where LtHTC and market
rornpetitive rents are h igh- This a pproach is expected to enable the Neighborhood Project Tea m
to set aside 20% or more of rents I units to hGursehol-ds e�amirkg ab&m 60 AM I.
Ful FC offers State Apartrneat Mcen rive Loan Program (SAI L� -debt in mnj u notion with Tax -Exempt
Bonds a nd 4%HC5. TI-rls provides an estirnatecil �3M - 51V! i n soft capital to fill the a Itern ate
funding gap noted above- Th is FH FC progm rrr is le:s5 ovre peEitNt, tha n E?%HC awards.
* FHPE SAIF Fi nancifig for the Co nstruction of Workforce Housing
FHFC offered 34M ;n SAIL capital to advaince construction of workforc-e housing outside the
Florida Keys i n 2017 a nd is expected to -do so i n f utu re pe rinds, t# prloritibes sG-catled Line-Where-
Yaki-Work projects withi n two miles of iderttlfii�d Citi} Ii mits incl Uding Ma rco Island and Na pies
Such housing serves hausehi?lds with incomes not excm -d ing AMI_ It require$ 2:5% of units he
set-aside at 5 AM I, 45 percent at fi AM I and the rernai n ing Units can serge households at
W% A I IL SAIL serves as soft ca Pita I to complement 4%HICs.
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The m u Itf phase nature of the Manatee site is If ke-ly to employ more tha n one of #hie a bore tool -5 together
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with FHA artid cher soUrocs. Bernhrid.ge PU Ds srrma II side makes It a less I i Ioefyr ca nd IdaM fQr wurces based CD
orti 4%HCsi Ma natee's la rge size rna ke 4%HCs strategies the most likely fi nanclal foundation, 7t
N ecessary I neentiees, Progra ms a nd Fun d fig
Substantial kwal goaerrrme nt subsidies will be requf red to surxesOu Ilyr create heusirkg targeted to
horrseholcfs in the Very Low-, !ow- a nd Modcrata-inovrne categories.- For rental housing,, provf.5ion of no -
cos[ coup ty owned land to the Develope r provides an iriftia I inve-stme nt estimated a t 10 12 of Tota I
Development Gait, Ruraf Neigh ba rhoods stjgge.G s the is nd assigned to rental developme nt be leased to
the Developer for a period of up to 99 years- This methodology may remit in ad valorem tax exemption.
It would provid-P a m LXb-ncLeded red u ution i n operating casts thiat Could reduce rents and/or enahie the
taking On of greater debt capitat- Sowings for thc [yrpical unit n� nta I project is estimate cd at $160,OW per
annum at GD% AMI income- restrictions; relief is greater at h ighe r i ncome levels.
Collier's high impact fees in corripafrwn to other juris&chuns Increases the need for subsidy Layering, For
exam plc, Miamf-Gade Countyrs ti,cice to waive i rrrpact f-pe5 results in a S15M .5avf ngs over a sim ila r.5ized
Collier development, Traditiona I Federal sours cLs rria raged by Col lier a m Ii mitedi SHkP, CDBG and HOM E
annual funding levels are at best modest. RN recommends suitable levels of CDBG monies be set-aside
towards infrastructure i rnprovements for dem bridge a nd artie or muire phased Manatee parcels once other
funds are secu red- It i� not pracdcal far Federa I funds to acc-um elate prior W initia I fina ncing si noa surfs
action co.0 Id jeopardize CSI Tier's abi lity #o meet Federal ti nbelinass foals. HOME I:u:nd:5 a re mfnimal inti sire,
and most Developers will not chi to subiect vertical ccnstruaion to Davi�S-Bacpn requf reme nts. The
Neighborhoods. Project Team recorn mends SHIP as an attractWe 5ub5idyr source.
Recornmendations irk the recent Colf ser Aft ndable Housing Study investigated sev-eral new eapi cal
suvrces. Though elected officials seemed relkictanrt t)D inti pose nkvr fees cin the real estate sector, same
noted that budgeting ad vaiorern tax revenues toward affordable and workforce housing could be
considered. Land, property tax exemption and capital inwstme nt of general fund revertiues could
successfully spur an approach such that use5 tax exempt bonds and non-cornWtftive 4 H
Collier is expected too The a reef pient of substa ntia I H u rrlca:ne Irma CDBO-DIS monies in Summer 2018 -
Funds are i ntended to rc mediate the I rma's im part and reduce fLAu re storm impact ori the rommunityr-
Lou I corn m unities natlonwide frequently use CDBG-DR man ies to address unmet rental housing needs
ex oar aced by a Cl isaster- ThF-$e 5olwtions increase th,e supply of rental housing rather than .rehouse
specific displaced individ umis �sinoe Such persons a re typically relocated long before -new construction is
oom pleted �- New senior or fam iJy renta I housinti , mnirtruction at Bembridge PU D or Ma aat" would
arguably offer horrslag hardened to new Codes and a safer alternative for the large numhers of residents
living in pre -19574 manufactured hotisi ng (and who remain at risk to future Sturm -51. CI)BG- DR proceed s
are esti rnated to be in excess of M+f-. FAN moomrnereds set-aside of a portion of these fundis tpwa rcrs
rtiew afforda We or workforce hmising deuelopmerrts-
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The Ftaq ue t for Information sol irited corarnerrts, feedha ck and readiorts to the proposed pro�e�t, TheCn
Neighborhoods Project Tcarn notes the Corr PMAive cha racter of Federal Mate and I &MI f nancial ca p ita I LO
place -s the Bembri-dge PUD and Manatee SiU! in competition with affordable a rrd workfarce housing
th roughout Florida, For eXa m Plea competitive Housi n� Cred Its {9% H Cs�, the resource that provides the CO
mc$t Substantial equity} investments, is highry competitive and ersprrt is Ityr a Iottely. In 2017 1-68 Projects ri
Were 51Ab m ittad to FHFC for a a estimated 15 - 8 projects in the laced iiArn Co U311y category that Frkcludes mi
Col 1fe r- Nea rly alr a pplicants receive all points resu Iting in awar¢ees bei n!g se IecWd by re ad orrr Iotbery.
Though 9%HCs wil I re main an eswritiar top Ir pariicuiarly irk a la rge parcel such as Manatee, it is n -DL a p
source to be txru nted u po n. Tho ugh Deuel.oper expErkcnc2 in 9%HOs should be a threshold measure i n 01
Developer selection, al Developers meeting FHFC's requisite vxWrien-ce a re a n a level praying -ff eld a nd c
ha-ve no advantage over -each othi� r. L
Regarding the Ma rat" state, the Neighborhoods Project Team notes arra bole acreage and potentia 1
density suggests a n approach in which Callr-e r (1) se Iects either two D"elop-efs for incorne-ta rigeted rental
developm ent aind horrieownershi p housi ng (i F both hcu51ing types are desi red); or (2) Sc IecLs a master
Dprrelc per charged wi Lh brrngi n.� i n development partne rs for phased development of each type.
Contact I nformat ion
TFre I cid paint cf ou nta ct for the !fie igh L.�urhoo€is P roject Team is:
Steven KI rk, Fresiderrt
Rural Neighbor hoods, Inra)rporate.d
stPft ki r Q,, -.A a1'1ei9, r7borl-aod �.q.:g
19308 SW 3801h Strut, PSB 3.4352% Flanda City,, -FL 330 4
T 3D5-242-2:142 C 305-298-11{ 4 F 30-5-242-214
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11.C.6
113 RELATED
February 9, 2018
Collier County Board of County Commissioners
Procurement Services Division
3295 E. Tamiami Trail
Building C2
Naples, FL 34112
(239) 252-8935
Re: Request for Information #18-7295 Development of Housing that is Affordable on Collier County
Owned Land
Dear Collier County Board of County Commissioners,
Related Urban ("RUDG") a division of The Related Group is pleased to submit this proposal for the
Bembridge PUD site with the folio number 00400246406.
RUDG is proposing to purchase or lease this site in order to transform the vacant Bembridge PUD site into
a vibrant, multiphase, mixed -income development that will bring much-needed affordable and workforce
housing to the Collier County Community. Our proposed plan will consist of the following:
- Total Units: Two mixed -income developments with 90-110 units each. (180-220 Total Units)
- Demographic: One development will be catered to Seniors and the other to Families
- Affordable Housing: 80% of the units will be set aside for residents earning up to 60% of Area
Median Income ("AMI")
- Workforce Housing/Market Rate: 20% of the units will be set aside for market rate or workforce
housing families earning up to 140% of AMI.
Density: 45 dwelling units per acre
- Height: Maximum of 3 stories
- Parking: 1.25 parking spaces per unit for family developments and 1.0 parking spaces per unit
for elderly developments
- Retail: Ancillary retail <2,500 SF if desired by Collier County
RUDG, LLC will assemble a diverse team of community-based partners to help us interact with the broader
community. Community-based partners include universities and colleges, social service providers, non-
profit organizations serving the residents of the neighborhood, the school district, the police department,
local churches and economic development entities.
Our approach to financing, we will pursue all available financing options through Florida Housing Finance
Corporation, including 4% Tax Credit and Tax -Exempt Bonds, 9% Tax Credits, SAIL Financing for Affordable
and Workforce Housing, HOME, SHIP, FHLB and all conventional financing options.
444 Brickeli Avenue, Suite 301 ♦ Miami, Florida 33131 ♦ T: (305) 460-9900 ♦ F: (305) 460-9911 ♦ relatedgroup.com
Packet Pg. 132
11.C.6
IaRELATED
We expect this to be the first of several public-private partnerships between Related Urban and Collier
County. As such, we propose entering into a long-term ground lease with a term of 75 years for the
Bembridge PUD site. We are also open to purchasing the site if its is in the best interest of Collier County.
RUDG views the development of Bembridge as an opportunity to collaborate with Collier County to
identify and address community needs. One of our main objectives will be to address the housing
affordability crisis in Collier County. There are two parts to the housing affordability equation: the cost of
housing and median income levels. Our proposal seeks to address both parts of the equation by providing
affordable workforce/market rate housing units and by creating quality jobs during and post construction.
Description of Proposed Team:
The RUDG Team, led by Principals, Jorge M. Perez and Alberto Milo, Jr. is vastly experienced in large scale,
mixed-use, mixed -income redevelopment projects. Mr. Perez and Mr. Milo bring a combined 60+ yeas of
multifamily real estate experience having developed and managed over 90,000 multifamily housing since
1979. Ourteam of professionals has unparalleled experience and expertise in master planning, financing,
developing, managing and operating complex real estate assets. The senior leadership of RUDG consists
of Tony Del Pozzo, Vice President of Finance, who has an MBA in Finance and Brett Green, Director of
Acquisitions, who has a BA in Finance and Real Estate. They will supervise the key personnel assigned to
this development, including development associates, financial analysts, along with project and
construction managers.
TRG Management Company is an affiliated property management company that manages more than
70,000 residential units throughout Florida and Virginia. It was founded and organized on the premise
that a professionally trained, centrally directed property management staff is critical to maximizing cash
flows and driving the long-term value of real estate. The management team meets with the development
team prior to any asset coming on board. Both teams review the plans for the new asset and set goals
that connect to any commitments made during development phase.
Fortune Urban Construction is an affiliated general contracting and construction management company
that specializes in multifamily residential and mixed -used projects.
Success on Past Similar Projects:
RUDG has developed, rehabilitated and managed numerous mixed -income developments in Partnership
with a number of local governments throughout Florida. Utilizing the strategies overtime throughout this
proposal RUDG is regularly recognized as a leading developer of multifamily housing throughout the State
of Florida.
Through Albert's leadership, RUDG has rehabilitated and built over 1,500 affordable and workforce
housing units throughout Florida. RUDG has extensive experience developing all types of residential rental
projects throughout Florida. In 2011, RUDG was awarded the development rights to preserve and
redevelop 12 Miami Dade County public housing projects. RUDG has successfully partnered with Miami
Dade County Public Housing and Community Development ("PHCD") to substantially rehabilitate,
redevelop and newly construct 9 public housing projects exceeding 1,000 units, with additional three
projects under construction. Please see below similar developments partnered with the City of Opa Locka
and Orange County.
444 Brickell Avenue, Suite 301 ♦ Miami, Florida 33131 ♦ T: (305) 460-9900 ♦ F: (305) 460-9911 ♦ relatedgroup.com
Packet Pg. 133
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IE RELATED
Town Center Apartments is a 127 -unit elderly affordable housing development located in the City of Opa
Locka, FL. The property was purchased from multiple land owners in 2013 using NSP funds from
Neighborhood Housing Services of South Florida. We worked with the City of Opa Locka Community
Development Department and Planning Council to create a Transit Oriented Development District. The
project was financing using 4% Tax Credits and Tax -Exempt Bonds from the Housing Finance Authority of
Miami Dade County. In addition to the Tax Credits and Bonds, we secured four subordinate loans totaling
more than $10 million. The project was fully leased by TRG Management Company in under four months
and is currently 100% occupied.
Emerald Villas is a 264 -unit residential community in the Pine Hills Target Area of Orange County. Emerald
Villas is a partnership between Related Urban and Orlando Neighborhood Improvements, Inc., a Florida
non-profit organization. When the property was acquired nearly 60% of the units were vacant and
severally deteriorated. The development plan was to lower the density by demolishing 180 of the existing
units and rehabilitate the remaining 264 units. This approach allowed us to complete construction and
manage the project in a much more efficient manner. Additionally, the land where the demolished units
were located will be used for future redevelopment opportunities. Construction was completed and
placed into service in the 3rd quarter of 2013.
Comments, feedback, and reactions:
- Need Zoning by no later than 9/1/18 to submit for funding in 2018
- Water/ Sewer/ Electric available at the site
- Local Contribution
In crafting this proposal, close attention was paid to the needs of Collier County community as well as how
we could maximum the potential for this nearly 6 -acre site could be maximized. We believe our proposal
is consistent with Collier County objectives with regards to housing affordability, however we look forward
to future discussions with county stakeholders to develop a plan that aligns with the goals and vision of
the county. We are excited about the opportunity to embark with Collier County on this transformative
development on Bembridge PUD site.
Sincerely,
lberto Milo, Jr.
Vice President
RUDG, LLC
444 Brickell Avenue, Suite 301 ♦ Miami, Florida 33131 ♦ T: (305) 460-9900 ♦ F: (305) 460-9911 ♦ relatedgroup.corn
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11.C.7
February 9, 2018
Edward F. Coyman, Jr., Director
Collier County Board of County Commissioners
Procurement Services Division
3295 Tamiami Trail East
Naples, FL 34112
RE: Request for Information #18-7295
Development of Housing that is Affordable on Collier County Owned Land
Dear Mr. Coyman,
We are pleased for the opportunity to introduce our firm and submit our conceptual proposal regarding
the above referenced work force housing developments. Our firm provides development, general
contracting and construction management services for residential, commercial, institutional and
industrial projects in the States of Connecticut and Florida. A notable variety of projects include
Oceanside, an oceanfront multistory residential condominium complex in West Haven; Corporate Drive
Business Park in Trumbull; Crossroads Women's and Children's Treatment Facility in New Haven;
Breakwater Bay Condominiums, a multistory residential condominium complex in New Haven; Stratford
Emergency Medical Services Facility in Stratford; East Side Fire Station in the City of Milford; Maple Oak
Reserve, a single family resident+al complex in Stratford; and DiLoreto Magnet School in New Britain.
In the State of Florida, predominant projects include Ave Maria University's Campus in Naples; Villas
Torino, a condominium complex in Naples; Luxury Estate Homes in the Port Royal area of Naples; Bella
Baia, a luxury condominium complex on the Gulf Shore in Naples; Lemuria Condominiums, a coach
home project in North Naples; and Clocktower Business Park in North Naples.
The firm is in the process of obtaining the entitlements for various developments and maintains the
ability to stand the test of time by responding profitably to the change in economic conditions, The firm
has achieved success in various market conditions and continues to exceed clients' expectations with a
level of distinction. The company is currently engaged in the preconstruction phase of an assemblage of
apartment complexes and self -storage facilities in addition to multi and single family mixed use
complexes. We foster relationships through integrity, professionalism and service. The company has
earned a reputation for unmatched quality and is consistently recognized as an industry leader.
Specifically, the firm has been involved with Work Force/Affordable Housing projects in the State of
Connecticut. Notable projects that have been completed consist of Bridal Trail Estates -- a single family
development consisting of 52 units in Trumbull, CT; Trumbull Mutual Housing—a multi -family
development consisting of 66 units in Trumbull, CT; and Roodner Court — a 234 unit multi -family housing
development in Norwalk, CT.
3415 Radio Road, Ste 109 . Naples, Florida 34104 335 Ferry Boulevard ■ Stratford, Coinaecticat 06615
Ph: (239) 304-0990 ■ Fx: (239) 304-0991 Ph: (203) 378-1876 ■ Fx: (203) 3''- 1 0
Lq Packet Pg. 135
It is contemplated that Collier County will contribute the land for a predetermined value and a capital
account will be established for the land contribution. It will be the intent to maximize the density of
both parcels with multi -family, four story structures contemplated for the Bembridge PUD and single
family and multi -family, four story structures contemplated for the Manatee Site. The product for both
sites will be sold to the proposed occupants, where the County receives a portion of the value
established for the land contribution and the developer will receive the excess. A predetermined unit
price will be established for the parties upon the sale of each unit.
Depending on the governmental approvals and jurisdictional wetlands, it is contemplated that four
buildings totaling of approximately 160-200 multi -family units, not to exceed 1,000 sf, wiI` be
constructed for the Bembridge PUD development. Additionally, depending on any governmental
approvals and jurisdictional wetlands, approximately 360-400 units consisting of single family and multi-
family is contemplated for the Manatee Site, where the maximum size unit would not exceed 1,200 sf.
If the County requires compensation for the land contribution in excess of the pre -determined value
established by our pro -forma, the price point may need to be adjusted. It may be difficult to conform to
the price points of 80% or less of median income requirement, even if the County does not require
compensation for the land contribution. Therefore, the price point may need to be adjusted and
possibly recategorized to be in the moderate —120% or less of median income in Collier County to
enhance the feasibility and economics of both developments.
If you require additional information, please contact myself or Mark Lazar at the number below. We
look forward to pursuing this endeavor and future projects with Collier County.
Res u ly,
Antho . Salce
CEO/ 0
I 11.C.7 I
Packet Pg. 136
Friday, February 9, 2018
Swainson Hall, Procurement Manager - Acquisitions
Collier County Board of County Commissioners
Procurement Services Division
3295 Tamiami Trail East
Naples, Florida 34112
Phone: (239) 252-8935
Fax: (239) 252-6334
CC: Cormac Giblin
Edward F. Coyman Jr.
Ref: Response to Request for Information (RFI) #RFI18-7295
Dear Mr. Hall:
We are pleased to present our team for consideration in developing housing that is
affordable on the Bembridge PUD and Manatee sites that are currently owned by
the County. We believe that there are range of market -ready possibilities in
meeting the goals of providing quality housing options for Collier County
households earning 50% to 140% of the median income, including a targeted need
for rental and senior housing. With 40% of the total households in Collier County
cost -burdened or severely cost burdened; and nearly 20% of the workforce making
a daily commute from outside the County, the need for a solution is clear. Through
the upcoming Request for Proposal process, we look forward to presenting a vision
that provides residents and future residents of Collier County with a diverse range
of attainable housing options.
Our principals bring deep real estate development experience with specific
capabilities in planning and implementing public-private ventures. Their key
relationships in the industry are vital to crafting the right team to address
community concerns, provide integrated master planning and quality design,
comply with government expectations, and structuring a deal that is feasible and
attractive to the investor community. We have outlined a high-level approach
starting on the following page. For questions or comments on this RFI, please reach
out to either of the below contacts:
Robert Coulson Brian Radey
coulsonrw(&v3corp.com bradey@v3corp.com
(202) 746-6124 (425) 221-9145
Packet Pg. 137
A High Level Approach
The two properties have unique features that allow for development opportunities
that align with the characteristics of the surrounding communities and meet the
goals of the Collier County Community Housing Plan.
Bembridoe PUD - 5.11 acres
-- T Located along majortransportation
corridors and adjacent to both social
infrastructure and core employment
opportunities; this site should be
considered for higher density with a mix of
E townhomes and apartments. The unit mix
should trend more towards two -and three-
bedroom to accommodate families with
children and intergenerational families (i.e.
__. families with older parents in the home).
z 71 Apartment units and for sale units may
{ILL.� ` also require income -qualifications and/or
age qualifications that provide a range of options for renters and buyers.
Due to the attractive location of the parcel and the prevailing rental rates in the
area; developing market -rate units would provide significant offsets to the pricing
discounts for other, more affordable units. This makes the development easier to
finance and maintains high quality standards for construction and availability of
community amenities and light retail uses.
Manatee Site - 59.3 acres
Due to the large plot size, lack of direct
access to a major thoroughfare, and the
small amount of road frontage, this site
faces many challenges for development.
One thing that is clear is the need for a mix
of uses and a master -planned design that
accommodates a variety of densities. We
see additional potential in the parcel
located immediately to the north and east.
By including the approximately 30 acres
adjacent to the school, additional synergies
with the Manatee site can be realized.
When we consider current estimated demand along with target returns on
investment, we understand that product saturation should be avoided as our
planning principles dictate. Our strategy for this land use would include moderate or
gap housing level rates that would be competitive in the marketplace, as well as
supporting low income and very -low income units at the 80% and the 50% Area
V3 Ilc 1 1440 G Street NW, Washington, DC 20005 1 (202) 649-0778 1 www.v3corp.com
Page 2 of
11.C.8
Packet Pg. 138
Median Income targets. Product types would include a blend of semi-detached,
multifamily, mixed -income, and assisted living. This would enhance the
attractiveness to the local demographic, while also providing a place that seniors,
millennials and lower income renters would desire. The community may not be as
receptive to having just one type of development or the other, it is for these
reasons we want to attract a range of demographics and provide an attractively
designed community that supports active living and physical wellness.
General Comments
We anticipate that to achieve highest -and -best -use that the County will increase
density per acre as part of an inclusionary zoning and density bonus arrangement.
Improving density metrics would also increase the level of attractiveness for the
capital markets and institutional level investors that are needed in orderto get a
project of this scope and size financed. If the County is receptive to these ideas,
we believe a high-quality development can be achieved in a relatively short period
of time.
Although further due diligence is required based on yet -to -be -defined requirements
in the pending solicitation, we are exploring a range of feasible financing models
that would support our initial vision. To accomplish our goals, we may seek County
approval to subdivide parcels and use mixed zoning authority to arrange a portfolio
of ownership models and product types that would attract diversified interest from
the capital markets. We may also pursue joint -finance structures by asking the
government and related community organizations to provide incentives or
participate in certain deal structures, such as setting up the Community Land Trust.
Another method that we may pursue is to seek community development district
approval to support national funding initiatives such as the low-income housing tax
credits and grants.
Our financial partners, design consultants, and construction team have a wealth of
experience in these types of developments which complement our in-house
capabilities and position our team for success. We look forward to reviewing the
more detailed requirements in the upcoming solicitation and proposing development
options that meetthe need of Collier County and members of the community.
BestAgards,
Robert Coulson
Princibal
V3 Ilc 1 1440 G Street NW, Washington, DC 20005 1 (202) 649-0778 1 www.v3corp.com
Page 3 of
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Packet Pg. 139
11.C.9
The Vestcor Companies, Inc.
3030 Hartley Road, Suite 310
Jacksonville, Florida 32257
T 904-260-3030
F 904-260-9031
February 9, 2018
Swainson Hall, Procurement Manager -Acquisitions
Collier County Board of County Commissioners
Procurement Services Division
3295 Tamiami Trail East
Naples, Florida 34112
Re: Request for Information #18-7295 Development of Housing that is Affordable on Collier
County Owned Land
Dear Mr. Hall:
The Vestcor Companies ("Vestcor") is pleased to respond to RFI #18-7295, Development of Housing that
is Affordable on Collier County Owned Land. Vestcor was founded in 1983 in Jacksonville, Florida and has
grown to become one of Florida's largest developers of multifamily communities. Vestcor has developed
or acquired 32 affordable housing communities consisting of over 6,700 units since inception. Vestcor
currently owns and operates 23 communities consisting of approximately 4,800 units including two
communities in Collier County. Vestcor has been awarded low income housing tax credits from Florida
Housing Finance Corporation in the last four application cycles for the development of 14 affordable
housing communities consisting of over 1,300 affordable housing units. Vestcor is active developing
senior affordable communities, family affordable communities, and market rate senior assisted
living/memory care communities. Vestcor has a proven track record developing, owning, and operating
affordable housing communities.
We have reviewed the two County owned parcels that the Collier County Board of County Commissioners
identified as potential sites for affordable housing. Folio # 00400246406 is identified as the Bembridge
PUD and Folio # 00736520003 is identified as the Manatee Site.
Bembridge PUD
This site is part of the Bembridge PUD, Ordinance Number 2005-46, which provides for a RPUD Density of
6.0 DU/A on the undeveloped portion of Tract A. The undeveloped portion of Tract A is approximately
4.87 acres, which would allow 29 residential units. The site dimensions would support a 3 story, 1 building
senior affordable rental community. We believe the best approach to develop senior affordable housing
is to utilize low income housing tax credits allocated by Florida Housing Finance Corporation. The site is
outside both a HUD designated qualified census tract and a small area DDA, which prevents the site from
obtaining basis boost when calculating the amount of low income housing tax credits that can be
allocated. However, Florida Housing Finance Corporation has not released its 2018 Areas of Opportunity
map, which affords basis boost to areas outside qualified census tracts and small area DDA's. The updated
Areas of Opportunity map should be released mid -2018.
We recommend the County consider adopting an affordable housing density bonus agreement to
maximize the density on the site. Additionally, the County should waive all impact fees and contribute
the land to support the economics of the affordable development. We recommend applying to Florida
Housing Finance Corporation for 9% low income housing tax credits as part of Florida Housing Finance
Corporation geographical request for applications.
Packet Pg. 140
Manatee Site
This 59.3 acre site located off Roost Road would support a family demographic affordable housing
community. The site could be split for multiple uses including affordable housing. The site would need
to be rezoned to allow for residential development, which would require the support of the District 1
Commissioner. The close proximity to high-end new construction will present challenges. The future land
use for the site is Urban Coastal Fringe Subdistrict, which allows for a maximum of 4 dwelling units per
acre without the use of an affordable housing density bonus agreement. Although this site is inside a 2018
small area DDA (making it eligible for basis boost), it does not score the minimum requisite proximity
points to be competitive in a Florida Housing Finance Corporation competition solicitation. The site
should continue to be considered as policies at Florida Housing Finance Corporation do evolve. We would
recommend the County undertake the process to rezone the property for residential development
including but not limited to single family detached, single family attached, duplex, and multifamily rental.
We would recommend the County waive impact fees to support the economics of an affordable
development on this site.
Vestcor appreciates the opportunity to respond to the above reference RFI. We would appreciate being
included on any future RFA that is issued by Collier County in connection with the development of
affordable housing.
ega d s,
J R. oov
) 630-3030
rhooverc@vestcor.com
11.C.9
Packet Pg. 141
1111 a5
HO USING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tel: (407) 333-3233 1 Fax: (407) 333-3919
February 9, 2018
Swainson Hall
Procurement Manager—Acquisitions
Collier County Board of County Commissioners
Procurement Services Division
3295 Tamiami Trail East
Naples, FL 34112
RE: Request for Information #18-7295
Development of Housing that is Affordable on Collier County Owned Land
Wendover Housing Partners, LLC hereby submits this formal Response to the Collier
County Board of County Commissioners' Procurement Services Division Request for
Information #18-7295 for the Development of Housing that is Affordable on Collier
County Owned Land.
Wendover and its team have vast experience in working with local, state and federal
governments to secure financing for the development of quality affordable housing. For
over twenty years, Wendover has been a premier affordable housing developer with
successful projects throughout the Southeast spanning a portfolio of thousands of units.
Specifically, Wendover has previously successfully developed two affordable housing
communities in Collier County, both of which serve the family demographic and have
consistently maintained full occupancy.
Wendover has been at the forefront of developing affordable and workforce housing in
counties, like Monroe County, which have been challenged by rising real estate prices,
limited land availability, and the need to develop innovative approaches to meeting the
housing needs of workingfamilies and essential services employees whose incomes range
along a continuum from very low to moderate income. Wendover team members were
instrumental in working with Rep. Mike Davis in 2006 in creating legislation and funding
for workforce housing for Collier County. The county faces similar challenges again and
our team members understand the county's demographics, vision, and willingness to
promote affordable and workforce housing opportunities. We are very familiar with
issues and opportunities outlined in the 2017 ULI Report "Collier County: Expanding
Wendover Housing Partners. 2018
Packet Pg. 142
WENDOVER
HOUSING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tel: (407) 333-3233 ! Fax: (407) 333-3919
Housing Affordability". The ULI study outlined the extent of cost burdened households
affecting "essential service personnel" in the Naples and Urban area:
"The people who are cost burdened in Collier County are crucial to the
local economy. They provide key public safety, education, and health care
services to the community's residents. In addition, they are responsible for
the high-quality lifestyle that makes Collier County such a special place.
Examples of workers in the cost -burdened category include the following:
• Health care: Nurses, medical assistants, senior service providers
• Education: Teachers and other school employees
• Public safety: Police officers, firefighters
• Service industry workers: Wait staff, hotel staff, retail and trade salespeople, golf
course employees, landscape maintenance workers
• Entry-level or nonprofit professionals: Bank tellers, social workers, office
managers, government employees "
Wendover understands the approach to developing and managing affordable housing
communities that meet the needs of these residents. We believe our experience and
knowledge would make us a successful partner with Collier County on this
affordable/workforce housing initiative. Wendover can help Collier County realize the
vision outlined in the report.
Wendover and its selected team of industry professionals will be led by Jonathan L. Wolf,
principal of Wendover Housing Partners, LLC. Additional information on the proposed
project team and Wendover's project successes are outlined hereto under Exhibit A.
Wendover Housing Partners, 2018
Packet Pg. 143
k\Vi\TJJ - - ao 10 11 W1
14OUSING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tel: (407) 333-3233 1 Fax: (407) 333-3919
DEVELOPMENT APPROACH
Wendover has assessed the two Collier County owned parcels of land known as the
Bembridge PUD (Folio# 00400246406) and the Manatee Site (Folio# 00736520003).
Based on our analysis, it has been determined that both sites would serve as excellent
opportunities for the County to realize its goal of more quality, affordable housing. Given
its size of approximately 59 acres, the Manatee site is also an excellent candidate for
multiple development phases which could potentially total hundreds of affordable
housing units over the coming years. in addition, it is our vision that the site could include
ample park and community gathering space.
These communities would be funded through Low Income Housing Tax Credits (LIHTC)
allocated by Florida Housing Finance Corporation, combined with SAIL [State Apartment
Incentive Loan (SAIL)] dollars through an application and procurement process of which
Wendover has a successful track record. Specifically, we are proposing to develop
workforce housing inclusive of families and individuals across the income spectrum. Each
development would total approximately 90 units consisting of 1, 2 and 3 bedroom types
and include units set aside for residents making less than the following median incomes:
Extremely Low Income (33% AMI) - 101 of total units
Low Income (60% AMI) - 70% of total units
Workforce (up to 140% AMI) - 20% of total units
While both sites have tremendous potential, they also each have their own inherent
challenges that make it impossible to be able to realize the full potential of funding
available through the LIHTC program as it is currently designed. These potential
challenges are as follows:
Bembridge PUD - The site currently does not sit in what is termed a 30% tax credit
basis boost zone, which could be either a difficult development area or a qualified
census tract, as designated by HUD. This "boost zone" allows for a 30% boost in
the tax credits eligible for the project. The bottom line difference would be
approximately $35,000 less per affordable housing unit of tax credit funding
sources for construction, as opposed to being in a boost zone. Florida Housing has
the ability to add boost zones at the request of counties who have site priorities,
so this is something with which Wendover can assist.
Wendover Housing Partners, 2018
Packet Pg. 144
WENDOVER
HOUSING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tel: (407) 333-3233 { Fax: (407) 333-3919
Manatee Site - While this site is in a boost zone, it does not have the required close
proximity to a full suite of services such as grocery, medical and transportation.
As a result, this development would be required to apply for the non-competitive
4% low income housing tax credits, as opposed to the 9% tax credits. The bottom
line difference would be approximately $95,000 less per affordable housing unit
of tax credit funding sources for construction. A portion of this gap would be
rectified through a State Apartment Incentive Loan and short term tax-exempt
bonds, all procured and guaranteed by Wendover. This issue could be alleviated
for future development phases if there is the expected continued commercial
growth surrounding the property.
The resulting approximate funding structures for each site, all of which would be
personally guaranteed by the developer, would include:
Bembridge PUD Low Income Housing Tax Credits - $116,000 per Unit
Permanent Mortgage - $37,000 per Unit
Gap Funding - $40,000 per Unit
Manatee Site Low Income Housing Tax Credits - $54,000 per Unit
Permanent Mortgage - $37,000 per Unit
SAIL - $50,000 per Unit
Gap Funding - $50,000 per Unit
It is our recommendation that the County immediately start looking at any and all possible
alternatives for these gap funding sources in order to make affordable housing a reality.
If selected as your partner to develop this housing, the Wendover team can assist in
identifying and refining options to help meet this gap financing. We can ensure that
Florida Housing Finance Corporation understands the financial requirements to make this
successful and works on gap funding solutions in their RFA. At the County level there are
several options that would make a difference.
Wendover Housing Partners, 2018 4
Packet Pg. 145
HOUSING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tei: (407) 333-3233 ! Fax: (407) 333-3919
In exchange for an affordability period of at least 50 years on the properties, we would
propose several methods by which the County may begin this process. While none of
these alternatives, together or separately, solve the funding gap dilemma, they provide
an excellent start:
- Contributing the land or signing a long-term land lease in exchange for a nominal
fee.
- Waiving any applicable impact fees and utility connection fees.
- Elimination of any applicable ad valorem taxes.
- Certifying that the zoning is in place to allow for the required densities.
- In addition, any possible assistance by the County that may be necessary regarding
off-site improvements, site work and master stormwater retention is highly
advised.
Sincerely,
Z'4�7�1�Lji
Kevin Kroll
Wendover Housing Partners, LLC
Wendover Housing Partners, 2018
Packet Pg. 146
HOUSING PARTNERS
1105 KENSINGTON PARK DRIVE, SUITE 200
Altamonte Springs, Florida 32714
Tel: (407) 333-3233 1 Fax: (407) 333-3919
Exhibit A
Project Team Information
Wendover Housing Partners, 2018
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