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Backup Documents 09/11/2018 Item #16D11 ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP 16 011 TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE Print on pink paper. Attach to original document. The completed routing slip and original documents are to be forwarded to the County Attorney Office at the time the item is placed on the agenda. All completed routing slips and original documents must be received in the County Attorney Office no later than Monday preceding the Board meeting. **NEW** ROUTING SLIP Complete routing lines#1 through#2 as appropriate for additional signatures,dates,and/or information needed. If the document is already complete with the exception of the Chairman's signature,draw a line through routing lines#1 through#2,complete the checklist,and forward to the County Attorney Office. Route to Addressee(s) (List in routing order) Office Initials Date 1. Susan Golden Community and Human ,)11? ) 9/6/18 Services 2. Jennifer Belpedio County Attorney Office qll 1 0 f 3. BCC Office Board of County pC5 Commissioners \r'S't/ c(,\AVS 4. Minutes and Records Clerk of Court's Office C' qii,e211 PRIMARY CONTACT INFORMATION Normally the primary contact is the person who created/prepared the Executive Summary. Primary contact information is needed in the event one of the addressees above,may need to contact staff for additional or missing information. Name of Primary Staff Susan Golden/CHS Phone Number 252-2336 Contact/ Department ' / Agenda Date Item was 9/11/2018 V Agenda Item Number 16.D.11 Approved by the BCC Type of Document Resolution&Release,Assignment& Number of Original / Attached Assumption of Agreement Authorizing Documents Attached AHDB-Tuscan Islei �� �Y) PO number or account HOLD for check from law firm 1 l\ number if document is G ,� Olt 1 iL 6 � to be recorded �1 U-i1-Z- C_�1 lt%\14-- INSTRUCTIONS /%\14 INSTRUCTIONS & CHECT Initial the Yes column or mark"N/A"in the Not Applicable column,whichever is Yes N/A(Not appropriate. (Initial) Applicable) 1. Does the document require the chairman's original signature? SG 2. Does the document need to be sent to another agency for additional signature? if yes, NA provide the Contact Information(Name;Agency;Address;Phone)on an attached sheet. 3. Original document has been signed/initialed for legal sufficiency. (All documents to be SG signed by the Chairman,with the exception of most letters,must be reviewed and signed by the Office of the County Attorney. 4. All handwritten strike-through and revisions have been initialed by the County Attorney's NA Office and all other parties except the BCC Chairman and the Clerk to the Board 5. The Chairman's signature line date has been entered as the date of BCC approval of the SG document or the final negotiated contract date whichever is applicable. 6. "Sign here"tabs are placed on the appropriate pages indicating where the Chairman's SG signature and initials are required. 7. In most cases(some contracts are an exception),the original document and this routing slip NA should be provided to the County Attorney Office at the time the item is input into SIRE. Some documents are time sensitive and require forwarding to Tallahassee within a certain time frame or the BCC's actions are nullified. Be aware of your deadlines! 8. The document was approved by the BCC 09/11/2018 and all changes made during the - Via--- N/A is not meeting have been incorporated in the attached document. The County Attorney's an option for Office has reviewed the changes,if applicable. th' ine 9. Initials of attorney verifying that the attached document is the version approved by the /A is not BCC,all changes directed by the BCC have been made,and the document is ready for the an option fob Chairman's signature. J, I:Forms/County Forms/BCC Forms/Original Documents Routing Slip WWS Original 9.03.04,Revised 1.26.05,Revised 2.24.05;Revised 11/30/12 16011 RESOLUTION NO. 2018- 1 4 2 A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY APPROVING THE RELEASE, ASSIGNMENT AND ASSUMPTION OF "AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COVENANTS AND RESTRICTIONS ON REAL PROPERTY," DATED JUNE 25, 2002, FOR PROPERTY IN A MULTIFAMILY HOUSING DEVELOPMENT IN PHASE II WITHIN THE SADDLEBROOK PLANNED UNIT DEVELOPMENT, KNOWN AS THE TUSCAN ISLE COMMUNITY, AUTHORIZING ITS CHAIRMAN TO EXECUTE SAME; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the Board of County Commissioners of Collier County (the "Commission"), pursuant to its authority under the Florida Local Government Comprehensive Planning Act and the comprehensive plan adopted pursuant thereto has enacted Ordinance 90-89, as amended, entitled the Collier County Affordable Housing Density Bonus Ordinance (the "Ordinance"); and WHEREAS, the purpose and intent of the Ordinance is to assist in providing very-low, low, and moderate-income housing through the use of density bonuses which allow an increase in the number of residential dwelling units per acre allowed on property proposed for development, thereby decreasing the per unit cost of land and development; and WHEREAS, the Ordinance establishes an Affordable Housing Density Bonus Program that provides the process by which a developer may apply for a density bonus and implements the program by requiring that an affordable housing density bonus shall only be available to a developer through an affordable housing density bonus agreement between the developer and the Commission; and WHEREAS, the Commission and Creative Choice Homes XIV, Ltd., a Florida limited partnership, entered into that certain agreement entitled "Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property" dated as of June 25, 2002, and recorded in the Official Records of Collier County, Florida at Official Records Book 3142, Page 2473 (the "Density Bonus Agreement"); and WHEREAS, the Density Bonus Agreement applies to a 20 +/- acre site legally described in the Density Bonus Agreement upon which was constructed a multifamily housing development in Phase II within the Saddlebrook Planned Unit Development, known as Tuscan Isle Community, a 298-unit complex, (hereinafter the "Project"); and WHEREAS, the Density Bonus Agreement provides that each affordable housing unit shall be restricted to remain and be maintained as the required type of affordable housing rental unit as designated for at least fifteen years from the date of issuance of a final certificate of occupancy for such unit and that after 15 years the Density Bonus Agreement may terminate [18-GRC-00702/1428188/1] 1 16011 upon a date mutually agreed upon by the parties and stated in writing; and WHEREAS, Creative Choice Homes XIV, Ltd. (n/k/a Tuscan Isle Community, Ltd.) owned and was responsible for developing pursuant to the Density Bonus Agreement and did in fact develop and operate the Project; and WHEREAS, the Density Bonus Agreement provides, inter alfa., that during the term of the agreement the developer may not assign, delegate, or otherwise transfer all or part of its duties, obligations, or promises under the Density Bonus Agreement to any successor in interest to the property without the express written consent of the Commission; and WHEREAS, Tuscan Isle Community, Ltd desires to transfer the Project to SREIT Tuscan Isle, LLC.; and WHEREAS, the Commission intends, by the adoption of this resolution, to signify its consent to the transfer of the Project to the SREIT Tuscan Isle, LLC, and its consent to the assignment and assumption of the duties and obligations of the Density Bonus Agreement to the SREIT Tuscan Isle, LLC, pursuant to the Assignment and Assumption of Density Bonus Agreement referred to herein; and WHEREAS, the Commission also intends, by the adoption of this resolution, to signify its consent to the release of the Density Bonus Agreement with Tuscan Isle Community, Ltd. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY,FLORIDA THAT: Section 1. Consent to Transfer of Project. The Commission hereby consents to the transfer of the Project to SREIT Tuscan Isle, LLC effective upon the Closing Date, and subject to the Agreement (as defined herein) and this Resolution. As used in this Resolution, the term "Closing Date" shall mean the date the Project is conveyed by deed or other appropriate instrument. Section 2. Authorization and Approval of Assignment and Assumption of Density Bonus Agreement. The form and content of the Assignment and Assumption of Affordable Housing Density Bonus Agreement (the "Agreement") presented at this meeting and attached hereto as Exhibit "1" is hereby authorized and approved by the Commission. The Chairman of the Commission is hereby authorized to execute the Agreement and attest thereto, in substantially the form set forth in Exhibit"1"hereto. Section 3. Delivery of Agreement. Commission's Counsel shall deliver the Agreement upon the satisfaction of the condition that payment has been made of all fees and expenses of the Commission and its professionals, or that any fees or expenses due the County under the Density Bonus Agreement have been paid. Section 4. Further Actions and Ratifications of Prior Actions. The officers, agents and employees of the Commission are hereby authorized and directed to do all acts and things required of them by the provisions of the Agreement and this Resolution. All actions heretofore [18-GRC-00702/1428188/1] 2 0 16011 undertaken by the officers, agents and employees of the Commission with respect to the 1 provisions of the Agreement are hereby ratified and approved. Section 5. Effective Date. This Resolution shall take effect immediately upon its passage. This Resolution adopted this ‘10.k1 day ofaI_ , 2018 after motion, second, and majority vote in favor of passage. ATTEST: CRYSTAL K. KINZEL BOARD OF COUNTY CO ► ISSIONERS OF CLERK COLLIER Co11 rY, FL 0401, By: 3jgo Vo 0 0(_/. By: Ae �i po: Ft 1 QTY CLERK A''': SS I F HA' Attest as to Chi '5, signature ofly Approval as to`'form and legality: \ By: _ Alb_ cio Jenni er A. Belpedio ilk Assistant County Atto y 47 item V.121211- Agendag a Date Date/� Recd "1 eputy 1 [18-GRC-00702/1428188/1] 3 • 1 6 D 1 1 INSTR 5626483 OR 5563 PG 2865 RECORDED 10/18/2018 2 58 PM PAGES 7 CLERK OF THE CIRCUIT COURT AND COMPTROLLER COLLIER COUNTY FLORIDA REC$61.00 INDX$1.00 EXHIBIT I Page of..- When recorded return to: Attention: Yisell Rodriguez,Esq. Nelson Mullins Broad and Cassel 390 N. Orange Ave, Suite 1400 Orlando, Florida 32831 RELEASE,ASSIGNMENT AND ASSUMPTION OF AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COVENANTS AND RESTRICTIONS ON REAL PROPERTY This RELEASE, ASSIGNMENT AND ASSUMPTION OF AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COV NANTS AND RESTRICTIONS ON REAL PROPERTY(this"Assignment")is entered into as of th ,2018(the"Effective Date"), by and among TUSCAN ISLE COMMUNITY, LTD.,a Florida limited partnership(f/k/a Creative Choice Homes XIV,Ltd.)(the"Transferor"), SREIT TUSCAN ISLE, L.L.C., a Delaware limited liability company (the "Transferee") and COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS (the "Commission"). RECITALS A. The Transferor is the owner of that certain multi-family affordable housing development now known as the Tuscan Isle Apartments(the"Improvements"),which is located on the land legally described in Exhibit "A" attached to and made a part of this Assignment (the "Land"). The Transferor holds fee title to the Land and the Improvements. The Land and the Improvements constructed thereon are collectively referred to in this Assignment as the"Project". B. The Transferor and the Commission previously entered into that certain Agreement Authorizing Affordable Housing Density Bonus and Imposing Covenants and Restrictions on Real Property dated as of June 25, 2002 (the "Covenant Agreement") and recorded in the Official Public Records of the Collier County, Florida at Official Records Book 3142, Page 2473 on October 30,2002. [18-GRC-00702/1427892/1] Page 1 of 7 ,CAO 16011 C. The Transferor desires to assign to the Transferee the Covenant Agreement. D. The Transferee desires to assume the Covenant Agreement from the Transferor. E. The Commission has consented to the assignment and assumption of the Covenant Agreement. AGREEMENT NOW, THEREFORE, for and in consideration of the foregoing Recitals and other good and valuable consideration,the receipt of which is hereby acknowledged,the parties agree as follows: 1. Recitals. The foregoing Recitals are true and correct in all material respects and are hereby incorporated in this Assignment by reference. 2. Transfer. Effective as of the date of recordation of the deed conveying fee title to the Project from the Transferor to the Transferee and recordation of this Assignment(hereinafter referred to as the"Transfer")in the Official Public Records of the Collier County,Florida,the Transferor hereby assigns and transfers to the Transferee the Covenant Agreement. 3. Assumption. From the date of the Transfer and thereafter, the Transferee assumes and agrees to be bound by the Covenant Agreement and to perform, keep and observe all of the obligations, duties, liabilities, covenants and agreements of the Transferor under the Covenant Agreement. 4. Release. Upon the Transfer,the Transferor is released from any liability arising under the Covenant Agreement from and after the date of the Transfer. Notwithstanding the foregoing sentence; however, the Transferor and the Transferee hereby acknowledge and agree that nothing contained in this Assignment constitutes, nor shall be deemed to be, a release of the Transferor's obligations, duties, liabilities, covenants and agreements under the Covenant Agreement arising prior to the Transfer. 5. Notices. All notices to be given pursuant to this Assignment or to the Covenant Agreement shall be in writing and shall be deemed given when mailed by certified or registered mail, return receipt requested,postage pre-paid,to the address set forth below, or to such other place as the Commission or the Transferee may, from time to time, designate in writing: To the Transferee: SREIT TUSCAN ISLE, L.L.C. c/o Starwood Property Trust,Inc. 591 West Putnam Avenue Greenwich, Connecticut 06830 Attn: Andrew Sossen, Esq. To the Commission: Collier County Board of County Commissioners 2800 North Horseshoe Drive Naples,Florida 34104 Attn: Chairman [18-GRC-00702/1427892/1] Page 2 of 7 1 601 1 6. Full Force and Effect. All of the terms and conditions of this Assignment and the Covenant Agreement shall remain in full force and effect as to the Transferor, the Transferee, the Commission and the Project, to the extent applicable and in accordance with the terms and provisions of the applicable document. 7. Amendment of Assignment. This Assignment shall not be cancelled, restated, amended or otherwise modified without the prior written approval of all the parties hereto and the Commission. 8. Successors. This Assignment shall bind, and the obligations and benefits shall inure to, the parties to this Assignment,their legal representatives, successors and assigns. 9. Governing Law. This Assignment shall be governed by, interpreted under, and construed and enforceable with,the laws of the State of Florida. 10. Counterparts. This Assignment may be executed in multiple counterparts,each of which when so executed and delivered shall be an original, but all of which together shall constitute one and the same instrument. [SIGNATURES APPEAR ON THE SUBSEQUENT PAGES] [18-GRC-00702/1427892/1] Page 3 of 7 1 CH [SIGNATURE PAGE TO THE ASSIGNMENT AND ASSUMPTION OF AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COVENANTS AND RESTRICTIONS ON REAL PROPERTY] IN WITNESS WHEREOF, the Transferor, the Transferee, and the Commission have hereunto set their hands and seals as of the Effective Date. TRANSFEROR: TUSCAN ISLE COMMUNITY,LTD.,a Florida limited partnership By: TUSCAN ISLE GP,LLC,a Florida limited liability company, its general partner By: Vestcor,Inc., a Florida corporation, its manager By: a/ I. Name: 11F4i _.� ♦ . /, Title: '/P STATE OF FLORIDA ) ) ss °Wed COUNTY ) On th�is e0044-day of AZtqtt,'f , 2018, before me,as a notary public,personally appeared JiSpy] 0 . F(Nd `J ,known to me or satisfactorily proven to be the person whose name is subscribed to this instrument and acknowledged that he/she executed the same. If this person's name is subscribed in a representative capacity, it is for the principal named and in the capacity indicated. -ItectA_ 1/414 51(31-fr) LICLeetek Notary Expiration a� "'-ia REBECCA L ature of the Notary Public MY COMMISSION#FF974384 [STAMP/SEAL] i7!; EXPIRES March 23,2020 (4071398-0153 FloridallotaryService.com [18-GRC-00702/1427892/1] Page 4 of 7 0 1 601 1 [SIGNATURE PAGE TO THE ASSIGNMENT AND ASSUMPTION OF AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COVENANTS AND RESTRICTIONS ON REAL PROPERTY] IN WITNESS WHEREOF, the Transferor, the Transferee, and the Commission have hereunto set their hands and seals as of the Effective Date. TRANSFEREE: SREIT TUSCAN ISLE, L.L.C., a Delaware limited liability company By: Name: yriR°v :orc/j Title: \/j cam- Pre icbni" STATE OF Cd rw\ c.i ) p )ss �S1✓�e (a COUNTY ) On this the 21`"4- day of kuru S-• , 2018, before me, as a notary public, personally appeared wckre w Core v\ , known to me or satisfactorily proven to be the person whose name is subscribed to this instrument and acknowledged that he/she executed the same. If this person's name is subscribed in a representative capacity, it is for the principal named and in the capacity indicated. Kristin Rocco Coppola Notary Public State of Connecticut , i \ My Commission Expires: March 31,2021 Notal Expiration Date Signature of the Notary Public [ TAIO'/SEAL] e7 t.R 4 Li I, 'lD '• •.....•`•,r. j0iiitttpfm 00 [18-GRC-00702/1427892/1] Page 5 of 7 0 1 601 1 [SIGNATURE PAGE TO THE ASSIGNMENT AND ASSUMPTION OF AGREEMENT AUTHORIZING AFFORDABLE HOUSING DENSITY BONUS AND IMPOSING COVENANTS AND RESTRICTIONS ON REAL PROPERTY] IN WITNESS WHEREOF, the Transferor, the Transferee, and the Commission have hereunto set their hands and seals as of the Effective Date. COMMISSION: COLLIER CO O., B 0 - it OF COUNTY COMMISSIO RS By: : N�✓A�i 911Pw Name: 0 SO t_ Title: C Approved as to form and legality: Attest: CRYSTAL K. KINZEL, CLERK By: . /�./t r Name: . ,ir11-ka_C I fled G a �` - (� \\15› }rill: )LLL, ge) Title:Ass+. cmc„-+y �-�to��►eY ) ad vv. STATE OF FLORIDA ) A 8S0 Gil ss SIgnature only. COLLIER COUNTY ) On this the ) J' day of Sc , 2018, before me, as a notary public, personally appeared y GOKs , known to me or satisfactorily proven to be the person whose name is subscribed to this instrument and acknowledged that he/she executed the same. If this person .1 - •. . . - tive capacity, it is for the principal named and in the capacity indica e ' '• JESSICAM.HAYES �, ;I Commission#GG 000215 s;,—:& Expires June 7,2020 °�' doodad Thru Troy fain Insurance 800.385.7019 fir). 41)1 Ole)} Notary Expiration Date Si ature of the Notary Public [STAMP/SEAL] [18-GRC-00702/1427892/1] Page 6 of 7 C 16011 EXHIBIT A Legal Description of the Land A TRACT OR PARCEL OF LAND SITUATED IN THE STATE OF FLORIDA, COUNTY OF COLLIER, LYING IN SECTION 34, TOWNSHIP 49 SOUTH, RANGE 26 EAST, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: THE WEST 1/2 OF THE SOUTHEAST 1/2 OF SECTION 34, TOWNSHIP 49 SOUTH, RANGE 26 EAST, OF COLLIER COUNTY, FLORIDA, LESS THE SOUTH 50' FOR DAVIS BOULEVARD (STATE ROAD 84) 100.00 FOOT RIGHT-OF-WAY AND THE EAST 726 FEET OF THE SAID WEST 1/2 AND LESS AND EXCEPT THE INTERSTATE 75 (I-75) (STATE ROAD NO. 93) RIGHT-OF-WAY REFERENCE STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION SECTION 03175-2409 SHEET 6 OF 10: BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF THE SOUTHEAST QUARTER (SE 1/4) OF SAID SECTION 34; THENCE ALONG THE WEST LINE OF THE SOUTHEAST QUARTER OF SAID SECTION 34, N. 00° 24' 26" E., FOR 50.00 FEET TO THE NORTH RIGHT OF WAY OF DAVIS BOULEVARD ALSO BEING THE SOUTHEAST CORNER OF PALM SPRING PLAZA, UNIT ONE AS RECORDED IN PLAT BOOK 8, PAGES 21-23 OF THE OFFICIAL RECORDS OF COLLIER COUNTY, FLORIDA, AND THE POINT OF BEGINNING; THENCE CONTINUE ALONG THE WEST LINE OF SAID SOUTHEAST QUARTER (SE 1/4), N. 00° 24' 26" E. FOR 2,574.54 FEET TO THE NORTHWEST CORNER OF THE SOUTHEAST QUARTER (SE 1/4) OF SAID SECTION 34, ALSO BEING THE SOUTHERLY RIGHT OF WAY LINE OF INTERSTATE 75 (I-75) (STATE ROAD 93) PER THE STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION MAP OF SECTION 03175-2409, SHEET 6 OF 10; THENCE ALONG SAID RIGHT OF WAY, S. 72° 14' 13" E., FOR 506.83 FEET; THENCE ALONG SAID RIGHT OF WAY, S. 68° 12' 38" E., FOR 115.06 FEET; THENCE LEAVING SAID RIGHT OF WAY, S. 00° 21' 36" W., FOR 1,290.07 FEET; THENCE N.89° 35' 34" W., FOR 374.74 FEET; THENCE N. 44° 35' 34" W., FOR 84.40 FEET; THENCE S.45° 24' 26" W., FOR 113.95 FEET TO A POINT OF CURVATURE; THENCE SOUTHWESTERLY 58.90 FEET ALONG THE ARC OF A TANGENTIAL CIRCULAR CURVE TO THE LEFT HAVING A RADIUS OF 75.00 FEET THROUGH A CENTRAL ANGLE OF 45° 00' 00" AND BEING SUBTENDED BY A CHORD WHICH BEARS S. 22° 54' 26" W. FOR 57.40 FEET; THENCE S. 00° 24' 26" W., FOR 808.86 FEET; THENCE S. 14° 33' 54" E., FOR 153.96 FEET; THENCE S. 00° 49' 55" W., FOR 60.92 FEET TO THE NORTH RIGHT OF WAY OF DAVIS BOULEVARD; THENCE ALONG THE SAID NORTH RIGHT OF WAY, N. 88° 55' 22" W., FOR 94.33 FEET TO THE POINT OF BEGINNING. BEARINGS ARE BASED ON THE WEST LINE OF THE SOUTHEAST QUARTER (SE 1/4) OF SECTION 34, TOWNSHIP 49 SOUTH, RANGE 26 EAST, COLLIER COUNTY, FLORIDA AS BEING N. 00° 24' 26" E. [18-GRC-00702/1427892/1] Page 7 of 7 GJ