14A6 - RESOLUTION APPROVING AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR'S DESIGNEE TO EXECUTE (1) IN ACCORDANCE WITH SECTION 125.35, FLORIDA STATUTES, A 99-YEAR GROUND LEASE WITH PERRINE APARTMENTS, LTD., AN AFFILIATE OF ATLANTIC PACIFIC COMMUNITIES, LLC (APC) FOR AN APPROXIMATE TOTAL AMOUNT OF $17,011,920.01, INCLUSIVE OF A LUMP SUM GROUND LEASE PAYMENT OF $1,010,000.00, FOR THE RENTAL ASSISTANCE DEMONSTRATION CONVERSION AND REDEVELOPMENT OF THE THIRD PHASE OF PERRINE GARDENS AND PERRINE VILLAGE, (2) A CASH FLOW AND CAPITAL PROCEEDS SHARING AGREEMENT WITH APC PERRINE APARTMENTS GP, LLC, AN AFFILIATE OF APC, IN AN APPROXIMATE TOTAL AMOUNT OF $14,060,338.51 THROUGH THE TERM OF THE LEASE AND (3) A DEVELOPER FEE SHARING AGREEMENT WITH PERRINE DEVELOPMENT, LLC, AN AFFILIATE OF AND APC, IN AN APPROXIMATE TOTAL AMOUNT OF $1,901,581.50 FROM 30 PERCENT OF THE DEVELOPER FEE; AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR'S DESIGNEE TO EXERCISE ALL PROVISIONS CONTAINED IN SUCH AGREEMENTS; AND WAIVING SECTION 2-10.4.2 OF THE CODE OF MIAMI-DADE COUNTY, FLORIDA(Housing and Community Development)
March 17, 2026
Sponsors
Kionne L. McGhee