File #: 2024-02    Version: Name: Pines Place Tower Sale to Hayden Glade
Type: Ordinance Status: Approval Review
File created: 2/7/2024 In control: City Commission
On agenda: 6/5/2024 Final action:
Title: MOTION TO ADOPT PROPOSED ORDINANCE 2024-02 ON SECOND AND FINAL READING. PROPOSED ORDINANCE 2024-02 IS AN ORDINANCE OF THE CITY OF PEMBROKE PINES, FLORIDA, PURSUANT TO SECTION 8.03 OF THE CITY OF PEMBROKE PINES CHARTER, AUTHORIZING THE EXECUTION OF AN AGREEMENT TO ENTER INTO SUB-SUBLEASE, ATTACHED HERETO AS EXHIBIT “A” AND INCORPORATED HEREIN BY REFERENCE, FOR REAL PROPERTY GENERALLY LOCATED AT 8103 SOUTH PALM DRIVE (TOWER I), 8210 FLORIDA DRIVE (TOWER II), AND 8203 FLORIDA DRIVE (TOWER III), COLLECTIVELY REFERRED TO AS PINES PLACE AND DESCRIBED IN EXHIBIT “B”, WHICH PROPERTY IS SUBLEASED BY THE CITY FROM THE STATE OF FLORIDA DEPARTMENT OF CHILDREN AND FAMILY SERVICES AND OWNED BY STATE OF FLORIDA THROUGH THE BOARD OF TRUSTEES OF THE INTERNAL TRUST FUND OF THE STATE OF FLORIDA; AUTHORIZING THE CLOSING OF THE TRANSACTION CONTEMPLATED IN THE AGREEMENT EFFECTIVE UPON THE FILING BY THE CITY MANAGER WITH THE CITY CLERK OF A CERTIFICATE CONFIRMING THAT THE CLOSING REQUIREMENTS IN THE AGREEM...
Sponsors: City Manager
Attachments: 1. 1. 2024-02 Ordinance (Sale to Hayden Glade), 2. 2. Exhibit A - Agreement to Enter into Sub-Sublease HG Pines, 3. 3. Declaration of Restrictive Covenants (Affordable Housing), 4. 4. Exhibit B - Pines Place Apartments -Sketch Legal, 5. 5. Exhibit C - City Manager Certificate of Closing, 6. 6. 2628-14 DCF Sublease with 5 amendments, 7. 7. Agenda Item 9-19-17, 8. 8. Appraisal 1 - Autrey Appraisals, 9. 9. Appraisal 2 - Vance Real Estate, 10. 10. Appraisal 3 - Adrian Gonzalez, 11. 11. Broward County 2023 Income Limits and Rent Limits FHFC, 12. 12. Summary of Defeasance Analysis, 13. 13. Business Impact Estimate (BIE) Form - Pines Place
Title
MOTION TO ADOPT PROPOSED ORDINANCE 2024-02 ON SECOND AND FINAL READING.

PROPOSED ORDINANCE 2024-02 IS AN ORDINANCE OF THE CITY OF PEMBROKE PINES, FLORIDA, PURSUANT TO SECTION 8.03 OF THE CITY OF PEMBROKE PINES CHARTER, AUTHORIZING THE EXECUTION OF AN AGREEMENT TO ENTER INTO SUB-SUBLEASE, ATTACHED HERETO AS EXHIBIT “A” AND INCORPORATED HEREIN BY REFERENCE, FOR REAL PROPERTY GENERALLY LOCATED AT 8103 SOUTH PALM DRIVE (TOWER I), 8210 FLORIDA DRIVE (TOWER II), AND 8203 FLORIDA DRIVE (TOWER III), COLLECTIVELY REFERRED TO AS PINES PLACE AND DESCRIBED IN EXHIBIT “B”, WHICH PROPERTY IS SUBLEASED BY THE CITY FROM THE STATE OF FLORIDA DEPARTMENT OF CHILDREN AND FAMILY SERVICES AND OWNED BY STATE OF FLORIDA THROUGH THE BOARD OF TRUSTEES OF THE INTERNAL TRUST FUND OF THE STATE OF FLORIDA; AUTHORIZING THE CLOSING OF THE TRANSACTION CONTEMPLATED IN THE AGREEMENT EFFECTIVE UPON THE FILING BY THE CITY MANAGER WITH THE CITY CLERK OF A CERTIFICATE CONFIRMING THAT THE CLOSING REQUIREMENTS IN THE AGREEMENT HAVE BEEN SATISFIED, THE FORM OF WHICH IS ATTACHED HERETO AS EXHIBIT “C”, SUBJECT TO THE TERMS AND CONDITIONS AS SET FORTH IN THE AGREEMENT; AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE ALL NECESSARY DOCUMENTS AND TO TAKE ALL ACTIONS NECESSARY TO CLOSE THE TRANSACTION CONSISTENT WITH THE AUTHORITY GRANTED HEREIN; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE



Summary Explanation and Background

SUMMARY EXPLANATION AND BACKGROUND:
1. On March 15, 2001, the City entered into a Sub-Lease Agreement with the Florida Department of Children & Families (DCF), to develop, operate and maintain the 157-acre site of the former South Florida State Hospital. The property is owned by the state, through Board of Trustees of the Internal Improvement Trust Fund of the State of Florida, which is the cabinet (Trust), and is managed on behalf of the state by the Florida Department of Environmental Protection (DEP). The DCF leases the prop...

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