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HomeMy WebLinkAbout2003 03 31 Regular A Cypress Pointe Apartment Project 033103 Special Meeting Regular "An Cypress Pointe Apartment Project COMMISSION AGENDA SPECIAL MEETING ITEM A Consent Informational Public Hearing Regular X J[~l Ap!JH'2l, 2003 Meeting Mgr~ Dept. Authorization REQUEST: City Manager requesting the City Commission to provide the City Manager direction relative to the proposed Cypress Pointe Apartment Project. PURPOSE: This Agenda Item is needed to obtain further direction for the Commission relative to the proposed Cypress Pointe Apartment Complex. CONSIDERATIONS: On March 24, 2003 the City Commission approved a conditional use permit and concept plan for Davis Heritage G. P. Holding, LLC. to build a 120 unit apartment complex, and attendant Club House and support facilities on property located adjacent to Golf Terrace Apartments and Winter Springs Golf Club. The Commission also scheduled a Special Meeting for March 31, 2003 to discuss the project further. Davis also has a contract on the Leerdam tract on S.R. 434 adjacent to the entrance to Central Winds Park to build 60 apartment units and is considering another 60 units on the Wincey property located adjacent to Central Winds Park. The Cypress Pointe Project is an affordable housing project. The two other projects are full T and D market rate projects. If the project on the Wincey property should go forward the City will be requesting that Davis build a road connecting to Central Winds Park, thus completing the loop in and out of Central Winds Park, and providing parking spaces for events at the Park. The Cypress Pointe Project will be developed by a sub-corporation of Davis named Cypress Pointe of Winter Springs, Ltd. The other projects will be developed by a sub-Corporation named Wagner's Curve of Winter Springs, Ltd. 033103 Special Meeting Regular "An Cypress Pointe Apartment Project Page 2 Of2 The City Manager and Davis representatives have continued to evolve the Cypress Pointe Project concept including the following: 1. The City of Winter Springs will make a $150,000 donation to Cypress Pointe of Winter Springs to provide for amenities for the project. 2. Consistent with Davis Heritage G. P. Holding, LLC's. Corporate Policy of participation in local community programs in communities in which they develop and own properties, Wagner's Curve of Winter Springs Ltd. will donate $250,000 to expand City park facilities of any type, and at any park site chosen by the City in order to enhance recreational opportunities for the residents of Winter Springs. 3. If the Cypress Pointe Project should not be approved by the Florida Housing and Finance Authority, Wagner's Curve of Winter Springs will donate $250,000 to the City of Winter Springs. 4. The transfer of funds will be controlled by a Development Agreement by and between the City and Davis which will provide that Davis will construct two projects in Winter Springs; the Cypress Pointe Project and the Wagner's Curve Project. The City will agree to provide a $150,000 cash grant to the Cypress Pointe Project. Upon approval of a site plan for either Cypress Pointe or Wagner's Curve, whichever shall come first, Winter Springs will disburse a $150,000 check to Cypress Pointe of Winter Springs, Ltd. Concurrently, Wagner's Curve of Winter Springs, Ltd. will disburse a check of $250,000 to the City of Winter Springs. RECOMMENDATIONS: The City Manager is recommending the following: 1. Authorize the City Manager to execute a Florida Housing Financing Authority Local Government Verification of Contribution Grant Form to verify a $150,000 grant to Cypress Pointe of Winter Springs Ltd. to provide amenities to the project. This form may be withdrawn if the City and Davis fail to execute a Development Agreement. 2. Authorize the City Attorney and City Manager to prepare a Master Development Agreement with Davis to contract the projects in Winter Springs as provided above for Commission review and approval. ATTACHMENTS: Local Government Verification of Contribution Grant form COMMISSION ACTION: Fax:904 Mar 28 2003 11:43 P.02 LOCAL GOVERNMENT VERIFICATION OF CONTRIBUTION GRANT Name of Dcvclopment: Cypress Pointe Apartments Address of Development Site: SR 434; Inter8ection of SF. 434 0. Timoerlane Trail, Winter springs, FL 32708 Amount of Grant: $150,000.00 On of before 03/31/2003 (monlhlday/y~) the City/County of Winter Spri.ngs (Name of Cil)' or County) committed $150,000.00 as a grant to the Applicant for its we solely for assisting the proposed Development referenced above. The City/County does Dot expect to be repaid or reimbursed by the Applicant. or any other entity. provided the funds arc expended solely for the Development referenced above. No consideration or promise of consideration hll.'l been given with respect to the grant. For purpose.s of the foregoing, the promise of providing affordable housing does not constitute consideration. This grant is provided specifically with respect to the proposed Development. The SO\m:e oftbe grant is: (C.B. SHIP, HOME. COBO) The following government point of contact can verify the above stated contribution: NIUIIC ofGovemment Contact: Ronald W. McLemore, City Manager Address: 1126 E. S.R. 434 Winter Springs. Florida 3~706 Telephone Nwnbcr: (407) 327-1800 CERTJFICA TION 1 certify that the foregoing information is true and correct and that this cormnitment is effective tlllough 12/31/2003 (month/day/year) Date Ronald W. MCLemote Print or Type Name Signature (407) 327-1800 Tolepbono Number City Manaser Print or Type Title This ~ertifieation must be signed by the Mayor, City MAnager. County Manager IAdministrator/Coordinator, Chairperson of the City CouneillCommiasion or ChaJrpCTSon of the Board of COUllty Cormnissioners. If" the contrib\ltion is from a Ltlnd Authority organized pwsuant 10 Chapter 380.0663, Florida Statules, this certification must be sis;nc:d by the Chair of the Land Authority. One of thc authorized pel'llol'ls nAmed abOVe may sign this form for certificatioo of state, federal Or Local Oovcmmc.ot fuucls initially obtained by or dcrivl.'ld from a Local Government that is dir~tly administered by an intermediary s\lch as a housing finance authority. 8 oonummity reinvestment cOlpOnltion, or a state-certified Community Housing Development Organization (CHDO). Other signatories are not 8QC(:ptablc. The Applicant will not r~eive credit for this contribution jfthe cemfleation is improperly signed. This contributioll will l10t bc er;Jnsidercd if the ~crtification contains corrections or 'white-out'. If Iho certification is SCtiWlcd, izmged. altcr~ or retyped. the Application will fail thrcshold :lIld will be rejecled Automatically. The certification may be photocopied.. UA10lcS (Rev. 4-(3) Exhibit 42