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03-05-2013City Commission M. Susan Gottlieb, Mayor The City ®f Eric M. Soroka, ICMA -CM Eric S,,,k �'( }���� CityG7erlr Enbar Cohen �/ Teresa M. Soroka, MMC Teri Holzberg Billy Joel CitrAttomey Michael Stern Weiss Scrota Helfrnan Howard Weinberg Pastoriza Cole & Boniske Luz Urbaez Weinberg MCH5,20136PM Government Center 19200 West Country Club Drive Aventura, Florida 33180 1. CALL TO ORDER\ROLL CALL 2. PLEDGE OF ALLEGIANCE 3. AGENDA: Request for Deletions/Emergency Additions 4. SPECIAL PRESENTATIONS: Employee Service Awards 5. CONSENT AGENDA: Matters included under the Consent Agenda are self - explanatory and are not expected to require discussion or review. Items will be enacted by one motion. If discussion is desired by any member of the Commission, that item must be removed from the Consent Agenda and considered separately. A. APPROVAL OF MINUTES: February 5, 2013 Commission Meeting February 21, 2013 Commission Workshop Meeting B. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DECLARING CERTAIN PROPERTY LISTED UNDER THE ASSETS OF THE CITY AS SURPLUS TO THE NEEDS OF THE CITY; DESCRIBING THE MANNER OF DISPOSAL; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE. C. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA AUTHORIZING THE CITY MANAGER TO EXECUTE THE ATTACHED CONTRACT RENEWAL FOR LANDSCAPE MAINTENANCE WITHIN THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT -OF- WAY ON BISCAYNE BOULEVARD FROM THE OLETA RIVER BRIDGE NORTH TO THE MIAMI- DADEBROWARD COUNTY LINE BY AND BETWEEN THE CITY OF AVENTURA AND THE FLORIDA DEPARTMENT OF TRANSPORTATION; March 5, 2013 AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY AND EXPEDIENT ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. D. MOTION TO ACCEPT FOR FILING THE COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR) FOR THE FISCAL YEAR ENDED SEPTEMBER 30 2012 AND THE LETTER DATED FEBRUARY 19, 2013 ATTACHED HERETO AS ATTACHMENT A 6. ZONING HEARINGS: QUASI - JUDICIAL PUBLIC HEARINGS — Please be advised that the following items on the Commission's agenda are quasi-judicial in nature. If you wish to object or comment upon any of these items, please inform the Mayor when she requests public comments. An opportunity for persons to speak on each item will be made available after the applicant and staff have made their presentations on each item. All testimony, including public testimony and evidence, will be made under oath or affirmation. Additionally, each person who gives testimony may be subject to cross - examination. If you refuse either to he cross - examined or to be sworn, your testimony will be given its due weight. The general public will not be permitted to cross - examine witnesses, but the public may request the Commission to ask questions of staff or witnesses on their behalf. Persons representing organizations must present evidence of their authority to speak for the organization. Further details of the quasi-judicial procedures may be obtained from the Clerk. A. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA GRANTING CONDITIONAL USE APPROVAL PURSUANT TO SECTION 31- 144(f)(2)j. OF THE CITY CODE TO PERMIT A SELF - SERVICE STORAGE FACILITY IN THE MO (MEDICAL OFFICE) DISTRICT; GRANTING APPROVAL OF VARIANCE FROM SECTION 31 -144 (f)(4)d.3. OF THE CITY CODE TO PERMIT 29.7% OPEN SPACE, WHERE A MINIMUM OF 33% OPEN SPACE IS REQUIRED BY CODE; AND GRANTING APPROVAL OF VARIANCE FROM SECTION 31- 144(f)(4)c. OF THE CITY CODE TO PERMIT A 20 FOOT WIDE REAR YARD SETBACK, WHERE A MINIMUM REAR YARD SETBACK OF 25 FEET IS REQUIRED BY CODE, FOR THE REDEVELOPMENT OF THE SELF SERVICE STORAGE FACILITY AT 21288 BISCAYNE BOULEVARD, CITY OF AVENTURA; PROVIDING FOR AN EFFECTIVE DATE. B. A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA GRANTING APPROVAL OF VARIANCE FROM SECTION 31 -145 (b)(5) h. OF THE CITY CODE TO ALLOW COMMON OPEN SPACE OF 29.35 %, WHERE A MINIMUM 35% COMMON OPEN SPACE IS REQUIRED BY CODE FOR THE TC1 (TOWN CENTER) DISTRICT; VARIANCE FROM SECTION 31- 171(a)(6)a. OF THE CITY CODE TO ALLOW AN EXISTING 8.4 FOOT AND AN EXISTING 8.5 FOOT WIDE 2 March 5, 2013 PARKING STALL, WHERE A MINIMUM PARKING STALL WIDTH OF 9 FEET IS REQUIRED BY CODE; VARIANCE FROM SECTION 31- 171(a)(7) OF THE CITY CODE TO ALLOW AN EXISTING 4 FOOT AND 5 FOOT SETBACK TO PARKING PAVEMENT, WHERE A MINIMUM 10 FOOT SETBACK IS REQUIRED BY CODE; VARIANCE OF SECTION 31- 221(1)(3) a.l. OF THE CITY CODE TO ALLOW AN EXISTING 5 FOOT WIDE AND AN EXISTING 6 FOOT WIDE TERMINAL ISLAND, WHERE A MINIMUM TERMINAL ISLAND WIDTH OF 7 FEET IS REQUIRED BY CODE; VARIANCE FROM SECTION 31- 221(i)(3)a.2. OF THE CITY CODE TO ALLOW PARKING ROWS WITH MORE THAN NINE CONTIGUOUS PARKING SPACES WITHOUT A LANDSCAPED ISLAND, WHERE A MINIMUM OF ONE 7 FOOT WIDE LANDSCAPED ISLAND FOR EVERY NINE PARKING SPACES IS REQUIRED BY CODE; AND VARIANCE FROM SECTION 31- 221(i)(3)a.2 OF THE CITY CODE TO ALLOW AN EXISTING 0 FOOT WIDE, AN EXISTING 3.9 FOOT WIDE AND AN EXISTING 4.8 FOOT WIDE DIVIDER MEDIAN, WHERE A MINIMUM 7 FOOT WIDE DIVIDER MEDIAN IS REQUIRED BY CODE, FOR THE TOWN CENTER AVENTURA PLAZA AT 2711 NE 187 STREET, CITY OF AVENTURA; PROVIDING FOR AN EFFECTIVE DATE. 7. ORDINANCES: FIRST READING— PUBLIC INPUT: A. AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2011 -08 WHICH ORDINANCE ADOPTED A BUDGET FOR THE 2011/2012 FISCAL YEAR BY REVISING THE 2011/2012 FISCAL YEAR OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT "A" ATTACHED HERETO; ESTABLISHING THE COMMITTED FUND BALANCE FOR HURRICANE/EMERGENCY AND DISASTER RECOVERY OPERATING RESERVES; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; PROVIDING FOR AN EFFECTIVE DATE. B. AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA APPROVING THE SALE AND PURCHASE AGREEMENT BETWEEN THE CITY OF AVENTURA AND PRESIDENTIAL AVENTURA PROPERTIES, LLC FOR THE SALE OF CITY REAL PROPERTY; AUTHORIZING THE CITY MANAGER TO 3 March 5, 2013 EXECUTE THE SALE AND PURCHASE AGREEMENT AND TO EXECUTE ANY DOCUMENTS NECESSARY TO EFFECTUATE THE SALE AND CLOSING OF THE CITY REAL PROPERTY; PROVIDING FOR IMPLEMENTATION OF TRANSACTION; AND PROVIDING FOR AN EFFECTIVE DATE. 8. ORDINANCES — SECOND READING — PUBLIC HEARING: None. 9. RESOLUTIONS — PUBLIC HEARING: None. 10. REPORTS 11. PUBLIC COMMENTS 12. OTHER BUSINESS: None. 13. ADJOURNMENT FUTURE MEETINGS COMMISSION WORKSHOP MARCH 21, 2013 9AM EXEC. CONFERENCE ROOM COMMISSION MEETING APRIL 2, 2013 6 PM COMMISSION CHAMBER This meeting is open to the public. In accordance with the Americans with Disabilities Act of 1990, all persons who are disabled and who need special accommodations to participate in this meeting because of that disability should contact the Office of the City Clerk, 305- 466 -8901, not later than two days prior to such proceeding. One or more members of the City of Aventura Advisory Boards may be in attendance and may participate at the meeting. Anyone wishing to appeal any decision made by the Aventura City Commission with respect to any matter considered at such meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. Agenda items may be viewed at the Office of the City Clerk, City of Aventura Government Center, 19200 W. Country Club Drive, Aventura, Florida, 33180. Anyone wishing to obtain a copy of any agenda item should contact the City Clerk at 305466 -8901. kAl MINUTES CITY COMMISSION MEETING FEBRUARY 5, 2013 6 PM Aventura Government Center 19200 W. Country Club Drive Aventura, Florida 33180 1. CALL TO ORDER/ROLL CALL: The meeting was called to order by Vice Mayor Luz Urbaez Weinberg at 6 p.m. Present were Commissioners Enbar Cohen, Teri Holzberg, Billy Joel, Michael Stern, Howard Weinberg, Vice Mayor Luz Urbaez Weinberg, City Manager Eric M. Soroka, City Clerk Teresa M. Soroka and City Attorney David Wolpin. Mayor Susan Gottlieb was absent due to illness. As a quorum was determined to be present, the meeting commenced. 2. PLEDGE OF ALLEGIANCE: Led by Denise Pojomovsky 3. AGENDA: REQUESTS FOR DELETIONS /EMERGENCY ADDITIONS: None. 4. SPECIAL PRESENTATIONS: Certificates of Appreciation for ten years of service to the City were presented by Mr. Soroka to Johnny Cordero and Mary Smith. 5. CONSENT AGENDA: A motion to approve the Consent Agenda was offered by Commissioner Joel, seconded by Commissioner Stern, passed unanimously and the following action was taken: A. The following minutes were approved: January 8, 2013 Commission Meeting January 17, 2013 Commission Workshop Meeting B. Resolution No. 2013 -04 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DECLARING CERTAIN PROPERTY LISTED UNDER THE ASSETS OF THE CITY AS SURPLUS TO THE NEEDS OF THE CITY; DESCRIBING THE MANNER OF DISPOSAL; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE C. The following motion was approved: MOTION AUTHORIZING THE APPROPRIATION OF UP TO $130,000 TO BUILD A K -9 AREA WITHIN THE NEW PARKING GARAGE ($67,000) AND TO EXPAND THE PROPERTY AND EVIDENCE ROOM WITHIN THE POLICE DEPARTMENT ($63,000) FROM THE POLICE FEDERAL FORFEITURE FUNDS IN ACCORDANCE WITH THE CITY MANAGER'S MEMORANDUM. D. Resolution No. 2013 -05 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA ADOPTING THE CITY OF AVENTURA 2013 LEGISLATIVE PROGRAM AND PRIORITIES ATTACHED HERETO; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE E. Resolution No. 2013 -06 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, APPROVING THE APPOINTMENT OF MEMBERS TO THE CITY OF AVENTURA COMMUNITY SERVICES ADVISORY BOARD; AND PROVIDING AN EFFECTIVE DATE. F. Resolution No. 2013 -07 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AUTHORIZING THE CITY MANAGER ON BEHALF OF THE CITY TO EXECUTE AND OTHERWISE ENTER INTO THE ATTACHED MUTUAL AID AGREEMENT BETWEEN THE CITY OF AVENTURA AND THE CITY OF HALLANDALE BEACH FOR LAW ENFORCEMENT ACTIVITIES; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. G. Resolution No. 2013 -08 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, SUPPORTING ADOPTION OF UNIFORM FEDERAL LEGISLATION TO ACCOMPLISH A REDUCTION IN GUN VIOLENCE; PROVIDING FOR DISTRIBUTION OF RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. H. Resolution No. 2013 -09 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, PROVIDING FOR THE APPOINTMENT BY THE COMMISSION OF ONE OF ITS APPOINTEES TO THE BOARD OF 2 TRUSTEES OF THE POLICE OFFICERS' RETIREMENT PLAN TO FILL A VACANCY; AND PROVIDING AN EFFECTIVE DATE. I. Resolution No. 2013 -10 was adopted as follows: A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, APPROVING THE FORM OF LICENSE TO USE PROPERTY BETWEEN THE CITY OF AVENTURA AND PMG AVENTURA LLC; APPROVING THE FORM OF LICENSOR ESTOPPEL CERTIFICATE AND AGREEMENT BETWEEN THE CITY OF AVENTURA AND COLFIN AVENTURA FUNDING LLC; AUTHORIZING THE CITY MANAGER TO EXECUTE THE LICENSE FOR USE OF REAL PROPERTY AND LICENSOR ESTOPPEL CERTIFICATE AND AGREEMENT AFTER ACCEPTANCE OF THE TITLE OR DEED TO THE PROPERTY; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; ALL RELATING TO A 1.5 ACRE PARCEL OF LAND WITH A MUNICIPAL ADDRESS OF 3200 NE 188 STREET, CITY OF AVENTURA; PROVIDING AN EFFECTIVE DATE. Vice Mayor Luz Weinberg and Mr. Soroka presented Certificates of Appointment to the newly appointed members of the Community Services Advisory Board. 6. ZONING HEARINGS: QUASI- JUDICIAL PUBLIC HEARINGS — Please be advised that the following items on the Commission's agenda are quasi - judicial in nature. If you wish to object or comment upon any of these items, please inform the Mayor when she requests public comments. An opportunity for persons to speak on each item will be made available after the applicant and staff have made their presentations on each item. All testimony, including public testimony and evidence, will be made under oath or affirmation. Additionally, each person who gives testimony may be subject to cross - examination. If you refuse either to be cross - examined or to be sworn, your testimony will be given its due weight. The general public will not be permitted to cross - examine witnesses, but the public may request the Commission to ask questions of staff or witnesses on their behalf. Persons representing organizations must present evidence of their authority to speak for the organization. Further details of the quasi - judicial procedures may be obtained from the Clerk. None. 7. ORDINANCES: FIRST READING /PUBLIC HEARING: None. 8. ORDINANCES: SECOND READING /PUBLIC HEARING: Mr. Wolpin reviewed the quasi - judicial procedures for this item and read the following Ordinance by title: AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA, AMENDING THE OFFICIAL ZONING MAP OF THE CITY OF AVENTURA BY AMENDING THE ZONING DESIGNATION FOR A 0.51 ACRE PARCEL OF LAND LOCATED AT 20605 NE 34 AVENUE, AS MORE PARTICULARLY DESCRIBED IN EXHIBIT A, FROM RS2, RESIDENTIAL SINGLE FAMILY DISTRICT TO RMF3A, MULTIFAMILY MEDIUM DENSITY RESIDENTIAL DISTRICT; PROVIDING FOR SEVERABILITY; PROVIDING FOR INCLUSION IN THE CODE; PROVIDING FOR AN EFFECTIVE DATE 3 Mrs. Soroka administered the oath to those parties interested in speaking to this item. A motion for approval was offered by Commissioner Joel and seconded by Commissioner Holzberg. Ms. Carr addressed the Commission. Vice Mayor Weinberg opened the public hearing. There being no speakers, the public hearing was closed. The motion for approval passed unanimously by roll call vote and Ordinance No. 2013 -02 was enacted. 9. RESOLUTIONS — PUBLIC HEARING: None. 10. REPORTS: As presented. 11. PUBLIC COMMENTS: Sheryl Losos, Marina Cove, Krop Senior High School. 12. OTHER BUSINESS: None. 13. ADJOURNMENT: There being no further business to come before the Commission at this time, after motion made, seconded and unanimously passed, the meeting adjourned at 6:15 p.m. Teresa M. Soroka, MMC, City Clerk Approved by the Commission on Anyone wishing to appeal any decision made by the City Commission with respect to any matter considered at a meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. 4 CALL TO ORDER/ROLL CALL: The meeting was called to order at 9 a.m. by Mayor Susan Gottlieb. Present were Commissioners Enbar Cohen, Teri Holzberg, Billy Joel, Michael Stern, Howard Weinberg, Vice Mayor Luz Urbaez Weinberg, Mayor Gottlieb, City Manager Eric M. Soroka, City Clerk M. Teresa Soroka and City Attorney David M. Wolpin. As a quorum was determined to be present, the meeting commenced. 1. POLICE RADIO SYSTEM UPGRADE PROJECT (City Manager): Lt. Tom Labombarda advised the Commission of this project and its necessity. CITY MANAGER SUMMARY: Consensus to approve and provide for budget amendment legislation. 2. AVENTURA WATERWAYS MULTI -USE DEVELOPMENT (NE 207 ST AND ne 30 AVE): Developer Victor Ballestas, Architect Bernard Zyscovich and Attorney Jeffrey Bercow requested Commission establish a new mixed use zoning category to provide for proposed development of this property. CITY MANAGER SUMMARY: Consensus that residential units not exceed 125 and Developer resubmit proposal, if desired, to decrease his residential component accordingly. 3. REQUEST TO ATTEND MIAMI -DADE DAYS IN TALLAHASSEE (Commissioner Howard Weinberg). Commission Howard Weinberg requested that the City fund his participation in this event. CITY MANAGER SUMMARY: Consensus not to fund. Mr. Soroka requested and received consensus to change the May Workshop meeting to May 16, 2013 at 9 a.m. 4. ADJOURNMENT: There being no further business to come before the Commission at this time, the meeting adjourned at 11 a.m. Teresa M. Soroka, MMC, City Clerk Approved by the Commission on Anyone wishing to appeal any decision made by the City Commission with respect to any matter considered at a meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. y Of MINUTES CITY COMMISSION Aventura Government Center WORKSHOP MEETING 19200 W. Country Club Drive FEBRUARY 21, 2013 9am Aventura, Florida 33180 CALL TO ORDER/ROLL CALL: The meeting was called to order at 9 a.m. by Mayor Susan Gottlieb. Present were Commissioners Enbar Cohen, Teri Holzberg, Billy Joel, Michael Stern, Howard Weinberg, Vice Mayor Luz Urbaez Weinberg, Mayor Gottlieb, City Manager Eric M. Soroka, City Clerk M. Teresa Soroka and City Attorney David M. Wolpin. As a quorum was determined to be present, the meeting commenced. 1. POLICE RADIO SYSTEM UPGRADE PROJECT (City Manager): Lt. Tom Labombarda advised the Commission of this project and its necessity. CITY MANAGER SUMMARY: Consensus to approve and provide for budget amendment legislation. 2. AVENTURA WATERWAYS MULTI -USE DEVELOPMENT (NE 207 ST AND ne 30 AVE): Developer Victor Ballestas, Architect Bernard Zyscovich and Attorney Jeffrey Bercow requested Commission establish a new mixed use zoning category to provide for proposed development of this property. CITY MANAGER SUMMARY: Consensus that residential units not exceed 125 and Developer resubmit proposal, if desired, to decrease his residential component accordingly. 3. REQUEST TO ATTEND MIAMI -DADE DAYS IN TALLAHASSEE (Commissioner Howard Weinberg). Commission Howard Weinberg requested that the City fund his participation in this event. CITY MANAGER SUMMARY: Consensus not to fund. Mr. Soroka requested and received consensus to change the May Workshop meeting to May 16, 2013 at 9 a.m. 4. ADJOURNMENT: There being no further business to come before the Commission at this time, the meeting adjourned at 11 a.m. Teresa M. Soroka, MMC, City Clerk Approved by the Commission on Anyone wishing to appeal any decision made by the City Commission with respect to any matter considered at a meeting or hearing will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. CITY OF AVENTURA OFFICE OF THE CITY MANAGER ME TO: City Commission FROM: Eric M. Soroka, ICMA -CM, Cit,*Manaler DATE: February 6, 2013 SUBJECT: Resolution Declaring Equipment Surplus March 5, 2013 Commission Meeting Agenda Item 5D RECOMMENDATION It is recommended that the City Commission adopt the attached Resolution declaring certain equipment as surplus to the needs of the City. BACKGROUND Section 2 -258 of the City Code of Ordinances provides that any property owned by the City which has become obsolete or which has outlived its usefulness may be disposed of in accordance with procedures established by the City Manager, so long as the property has been declared surplus by a resolution of the City Commission. If you have any questions, please feel free to contact me. EMS /act Attachment RESOLUTION NO. 2013- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA DECLARING CERTAIN PROPERTY LISTED UNDER THE ASSETS OF THE CITY AS SURPLUS TO THE NEEDS OF THE CITY; DESCRIBING THE MANNER OF DISPOSAL; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City Manager desires to declare certain property as surplus to the needs of the City; and WHEREAS, Ordinance No. 2000 -09 provides that all City -owned property that has been declared surplus cannot be disposed of prior to the preparation and formal approval of a resolution by the City Commission. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. Recitals Adopted. The above recitals are hereby confirmed and adopted herein. Section 2. The property listed on Exhibit "A" has been declared surplus and is hereby approved for disposal. Section 3. The City Manager is authorized to dispose of the property listed on Exhibit "A" through a public auction, sale, trade -in, transfer to other governmental agency or, if of no value, discarded. Section 4. The City Manager is hereby authorized to do all things necessary to carry out the aims of this Resolution. Section 5. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb Resolution No. 2013-. Page 2 PASSED AND ADOPTED this 5t" day of March, 2013. SUSAN GOTTLIEB, MAYOR ATTEST: TERESA M. SOROKA, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY CITY OF AVENTURA POLICE DEPARTMENT INTER OFFICE MEMORANDUM TO: Eric M. Soroka, City Manager FROW.-Sk n Stec erg, Chief of Police DATE: 6 February 2013 SUBJECT: Surplus Property I would like to have the below listed items, owned by the City of Aventura, declared Surplus Property as per City of Aventura APDP, Chapter 6, Subsection 5, Page 1, as these items have become inadequate for public purposes: 2007 Ford Crown Victoria VIN# 2FAFP71WX7X136851 CITY OF AVENTURA INFORMATION TECHNOLOGY DEPARTMENT 91k TO: Eric M. Soroka, City Mnacter FROM: Karen J. Lanke, Infdfmatign Technology Director DATE: February 21, 2013 SUBJECT: Surplus Computer Equipment I am requesting that the computer equipment listed on the attached spreadsheet be declared surplus property as the equipment no longer meets the needs of the City. Please let me know if you have any questions regarding this request. Attachment City of Aventura Computer Equipment Inventory Exhibit A Asset Tag Brand Model Oty Serial Number Type Dell O ti lex 745 1 28Q3QD1 Desktop Dell O ti lex 755 1 6NNQGHI Desktop Dell O ti lex 755 1 8YDRXFI Desktop Dell O ti lex 755 1 94FNGH1 Desktop Dell O ti lex 755 1 FSTTCHI Desktop Dell O ti lex 760 1 1 SYSTKI Desktop Dell O ti Iex 760 1 72S4WK1 Desktop Dell O ti Iex 760 1 9TH5WK1 Desktop Dell O ti lex 760 1 DTH5WK1 Desktop 1676 Dell O ti lex GX260 1 4WRCY21 Desktop 2434 Dell O ti lex GX620 1 8NBLV71 Desktop Dell O ti lex GX620 1 8WHKWB1 Desktop 2803 Dell O ti lex GX620 1 94X5WB1 Desktop Dell Latitude D630 1 1BONGH1 Laptop Dell Latitude D630 1 5DONGHI Laptop Dell Latitude D630 1 5VJOWD1 Laptop Dell Latitude D630 1 7VJOWD1 Laptop Dell Latitude D630 1 GHZ82D1 Laptop Dell Latitude D630 1 HBONGH1 Laptop Dell Latitude E6400 1 12L6WKI Laptop Dell Latitude E6400 1 22L6WK1 Laptop Dell Latitude E6400 1 4MOQRKI Laptop Dell Latitude E6400 1 73L6WK1 Laptop Dell Latitude E6400 1 91L6WK1 Laptop Dell Latitude E6400 1 C3L6WK1 Laptop Dell 1504FP 1 KR03X966476022C2D15C Monitor ViewSonic O ti uest Q41 1 701004200504 Monitor Okidata Microline 590 1 905B1043860 Printer 2385 Dell PowerEd a 1850 1 8CL1961 Server Dell PowerEd a 1950 1 91Q6WB1 Server Dell PowerEd a 1950 1 1 FY01HH1 Server 1902 Dell PowerEd a 2650 1 2LWFB31 Server Dell PowerEd a 2850 1 64BCK81 Server Dell PowerEd a 2950 1 8VG8QD1 Server APC Back -UPS LS 500 1 4B0501 P85145 UPS APC Back -UPS RS800 1 3B0928X28459 UPS APC Back -UPS RS800 1 5B0724U19915 UPS APC Back -UPS RS800 1 5B0725U00104 UPS APC Back -UPS RS800 1 5B0725U00165 UPS APC Back -UPS RS800 1 5B0725U10439 UPS APC Back -UPS RS800 1 5B0844T25128 UPS Page 1 of 1 2/21/2013 CITY OF AVENTURA POLICE DEPARTMENT INTER OFFICE MEMORANDUM TO: Eric M. Soroka, City Manager FROM: -3 einberg, Chief of Police DATE: 22 February 2013 SUBJECT: Surplus Property I would like to have the below listed items, owned by the City of Aventura, declared Surplus Property as per City of Aventura APDP, Chapter 6, Subsection 5, Page 1, as these items have become inadequate for public purposes: Veh # VIN Make & Model 2007 2 Ford Crown Victoria CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission FROM: Eric M. Soroka, ICMA -C DATE: February 8, 2013 SUBJECT: Renewal of FDOT Landscape Maintenance Contract for Biscayne Boulevard March 5, 2013 City Commission Meeting Agenda Item 5-C. RECOMMENDATION It is recommended that the City Commission adopt the attached Resolution authorizing the renewal of the attached contract with the Florida Department of Transportation (FDOT) for landscape maintenance along Biscayne Boulevard from the Oleta River Bridge to the County line. The original renewal contract was authorized by Resolution 2012 -19. FDOT will reimburse the City in the amount of $12,670.29 per year. If you have any questions, please feel free to contact me. EMS /act Attachment CCO1794 -13 Florida Department of Transportation RICK SCOTT 1000 NW I 1 I Avenue ANANTH PRASAD, P.E. GOVERNOR Miami, FL 33172 SECRETARY January 29, 2013 City of Aventura 19200 West Country Club Drive Aventura, FL 33180 Attn: Mr. Eric M. Soloca, City Manager RE: Turf and Landscape Maintenance Joint Participation Agreement Contract No.: AQP77 Financial No.: 407334- 2 -78 -02 Subject: RENEWAL# 1 Dear Mr. Soloca: The Agreement referenced above will expire on July 12, 2013. The Department wishes to renew this agreement for a period of one year starting on July 13, 2013 and ending on July 12, 2014. If the City agrees on this renewal, enclosed are two (2) new contract renewal documents to execute. Please leave the date blank on the first page and return the executed documents back to the Department before March 1, 2013. Should you have any questions concerning this agreement, please contact me at telephone number (305) 470 -5426 Sincerely, Shany lanotti Assistant Project Manager cc: R. Marrero, PE, K. AI -Said, File RECEIVED JAN 3 1 2013 OFFICE OF CITY L;� RESOLUTION NO. 2013- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA AUTHORIZING THE CITY MANAGER TO EXECUTE THE ATTACHED CONTRACT RENEWAL FOR LANDSCAPE MAINTENANCE WITHIN THE FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT -OF -WAY ON BISCAYNE BOULEVARD FROM THE OLETA RIVER BRIDGE NORTH TO THE MIAMI - DADE/BROWARD COUNTY LINE BY AND BETWEEN THE CITY OF AVENTURA AND THE FLORIDA DEPARTMENT OF TRANSPORTATION; AUTHORIZING THE CITY MANAGER TO TAKE NECESSARY AND EXPEDIENT ACTION TO CARRY OUT THE AIMS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE. NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. The City Manager is hereby authorized to execute the attached Contract Renewal by and between the City of Aventura and the Florida Department of Transportation to provide landscape maintenance services on the Florida Department of Transportation Right -of -way on Biscayne Boulevard from the Oleta River bridge north to the Miami - Dade /Broward County line. Section 2. The City Manager is hereby authorized to do all things necessary to carry out the aims of this Resolution. Section 3. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb Resolution No. 2013 - Page 2 PASSED AND ADOPTED this 5th day of March, 2013. SUSAN GOTTLIEB, MAYOR ATTEST: TERESA M. SOROKA, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY Contract No.: AQP 77 Financial Project No(s).: County(ies): MIAMI -DADE 407334- 2 -78 -02 STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION CONTRACT RENEWAL Renewal: (1st, 2nd, etc.) 1st 375 -020-23 CONTRACTS ADMINISTRATION OGC - 04/06 This Agreement made and entered into this13 day of July 2012 , by and between the State of (This date TO D6 enieTe Dy DUr C1717.7- Florida Department of Transportation, hereinafter called "Department ", and City of Aventura hereinafter called "Contractor ". WITNESSETH: WHEREAS, the Department and the Contractor heretofore on this day of (This date to be entered by DOT only) entered into an Agreement whereby the Department retained the Contractor to perform Maintenance of all Turf and Landscape areas within the Department's right of way, having the limits specified in Attachment "B" of the inal Contract. ; and WHEREAS, said Agreement has a renewal option which provides for a renewal if mutually agreed to by both parties and subject to the same terms and conditions of the original Agreement; NOW, THEREFORE, this Agreement witnesseth that for and in consideration of the mutual benefits to flow each to the other, the parties agree to a renewal of said original Agreement for a period beginning the 13 day of July 2013 and ending the 12 day of July 2014 at a cost of $ 12,670.29 All terms and conditions of said original Agreement shall remain in force and effect for this renewal. IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized officers on the day, month, and year set forth above. City of Aventura Name of Contractor Contractor Name and Title STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION BY: District Secretary or Designee (Signature) BY: Title: Authorized ignature (SEAL) Legal: Name of Surety City By State Fiscal: Florida Licensed Insurance Agent or Date Attorney -In -Fact (Signature) Countersigned: Florida Licensed Insurance Agent Date Approval as to Availability of Funds STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION 375 -040-68 E- VERIFY PROCUREMENT Contract No: AQP 77 Financial Project No(s): 407334- 2 -78 -02 Project Description: Turf and Landscape Maintenance Joint Participation Agreement. Vendor /Consultant acknowledges and agrees to the following: Vendor /Consultant : 1. shall utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the Vendor /Consultant during the term of the contract; and 2. shall expressly require any subcontractors performing work or providing services pursuant to the state contract to likewise utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the subcontractor during the contract term. Company /Firm: City of Aventura Authorized Signature: Title: Date: Contract No.: AQP 77 Financial Project No(s).: 407334- 2 -78 -02 County(ies): MIAMI -DADE STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION CONTRACT RENEWAL Renewal: (1st, 2nd, etc.) 1st 375- 020 -23 CONTRACTS ADMINISTRATION OGC - 04/06 This Agreement made and entered into this13 day of July 2012 , by and between the State of (This date to 56 ellierea uy DUT Orn9-j- Florida Department of Transportation, hereinafter called "Department ", and City of Aventura hereinafter called "Contractor'. WITNESSETH: WHEREAS, the Department and the Contractor heretofore on this day of (This date to be entered by DOT only) entered into an Agreement whereby the Department retained the Contractor to perform Maintenance of all Turf and Landscape areas within the Department's right of way, having the limits specified in Attachment "B" of the ioinal Contract. ; and WHEREAS, said Agreement has a renewal option which provides for a renewal if mutually agreed to by both parties and subject to the same terms and conditions of the original Agreement; NOW, THEREFORE, this Agreement witnesseth that for and in consideration of the mutual benefits to flow each to the other, the parties agree to a renewal of said original Agreement for a period beginning the 13 day of July 2013 at a cost of $ 12,670.29 and ending the 12 day of July , 2014 All terms and conditions of said original Agreement shall remain in force and effect for this renewal. IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized officers on the day, month, and year set forth above. City of Aventura Name of Contractor STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION BY: Contractor Name and Title BY: Title: Authorized ignature District Secretary or Designee (Signature) (SEAL) Legal: Name of Surety City S State Florida Licensed Insurance Agent or Date Attorney -In -Fact (Signature) Countersigned: Florida Licensed Insurance Agent Date Fiscal: Approval as to Availability of Funds STATE OF FLORIDA DEPARTMENT OF TRANSPORTATION 375 - 040-68 E- VERIFY PROCUREMENT 06/11 Contract No: AQP 77 Financial Project No(s): 407334- 2 -78 -02 Project Description: Turf and Landscape Maintenance Joint Participation Agreement. Vendor /Consultant acknowledges and agrees to the following: Vendor /Consultant : 1. shall utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the Vendor /Consultant during the term of the contract; and 2. shall expressly require any subcontractors performing work or providing services pursuant to the state contract to likewise utilize the U.S. Department of Homeland Security's E- Verify system to verify the employment eligibility of all new employees hired by the subcontractor during the contract term. Company /Firm: City of Aventura Authorized Signature: Title: Date: CONTRACT # TURF AND LANDSCAPE MAINTENANCE JOINT PARTICIPATION AGREEMENT BETWEEN THE FLORIDA DEPARTMENT OF TRANSPORTATION AND THE CITY OF AVENTURA This Agreement, is made and entered into this day of , 2012, by and between the State of Florida Department of Transportation, a component agency of the State of Florida, hereinafter referred to as the `DEPARTMENT', and the City of Aventura, a municipal corporation of the State of Florida, hereinafter referred to as the `CITY'. RECITALS• WHEREAS, the DEPARTMENT has jurisdiction and maintains the State Road (S.R.) 5/13iscayne Boulevard/US -1 in the CITY; and WHEREAS, the DEPARTMENT, as part of the continual updating of the State of Florida Highway System and for the purpose of safety, has created median strips on the State Highway System within the corporate limits of the CITY; and WHEREAS, the DEPARTMENT, at the CITY's request, has agreed to reimburse the CITY for the maintenance of turf and landscape, hereinafter referred to as the `PROJECT', and WHEREAS, the CITY recognizes that said median strips areas contain turf and landscape, which shall be maintained in accordance with Exhibit "A ", `Maintenance Responsibilities', which is herein incorporated by reference; and WHEREAS, the CITY is currently under maintenance obligations as stipulated in Permit Number 2001 -L -691 -2 executed by the Department on November 1, 2001; and WHEREAS, the DEPARTMENT has programmed funding for the PROJECT under Financial Project Number 407334- 2- 78 -02, and has agreed to reimburse the CITY for turf and landscape maintenance elements which are outlined in the attached Exhibit "B", `Project Limits & Financial Summary', which is herein incorporated by reference; and WHEREAS, the parties hereto mutually recognize the need for entering into an Agreement designating and setting forth the responsibilities of each party; and WHEREAS, the parties are authorized to enter into this Agreement pursuant to Section 339.08(e) and 339.12, Florida Statutes (F.S.); NOW, THEREFORE, in consideration of the premises, the mutual covenants and other valuable considerations contained herein, the receipt and sufficiency of which are acknowledged, Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 4073342 -78 -02 Page 1 of 12 the parties agree as follows: 1. INCORPORATION OF RECITALS The foregoing recitals are true and correct and are incorporated into the body of this Agreement, as if fully set forth herein. 2. GENERAL REQUIREMENTS a. The CITY shall submit this Agreement to its CITY Commission for ratification or approval by resolution. A copy of said resolution is attached hereto as Exhibit "C ", `City of Aventura's Resolution', and is herein incorporated by reference. b. The CITY shall not commence the PROJECT until a Notice to Proceed has been provided from the DEPARTMENT, which shall become the effective date of this Agreement and shall not precede the date provided on page one (1) of the Agreement. c. The CITY shall be responsible for the maintenance of all areas that have turf and landscape within -the DEPARTMENT's right -of -way as described in Exhibit "A ", `Maintenance Responsibilities'. d. The CITY shall. be responsible for performing the required maintenance with a minimum frequency of eighteen (18) times per year for: Small Machine Mowing, Litter Removal, and Edging & Sweeping and Landscape Maintenance. e. All turf and landscape maintenance shall be in accordance with the latest edition of the State of Florida "Guide for Roadside Mowing" and the latest edition of the "Maintenance Rating Program ", and Index 546 of the latest FDOT Design Standards. f. The CITY shall submit a work schedule to the DEPARTMENT. In addition, before the CITY starts the work, the DEPARTMENT shall be notified, via fax, of the state road(s) and the day(s) in which the CITY will be working. The fax shall be sent to the attention of the North Miami -Dade Maintenance Engineer, at 305- 640 -7197. g. The CITY shall not be responsible for the clean-up, removal and disposal of debris from the DEPARTMENT's right of way following a natural disaster (i.e. hurricane, tornados, etc.). However, the cost of any cycle or part thereof impaired by any such event may be deducted from the DEPARTMENT's affected quarterly payment to the CITY. h. It is understood between the parties hereto that all the landscaping covered by this Agreement may be removed, relocated or adjusted at any time in the future as found necessary by the DEPARTMENT in order that the adjacent state road be widened, altered or otherwise changed and maintained to meet with future criteria or planning of the DEPARTMENT. Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334 -2 -7M2 Page 2 of 12 The CITY shall not plant additional landscaping within the limits of the PROJECT, without prior written approval by the DEPARTMENT, in accordance with Florida Administrative Code Rule 14- 40.003. Such approval shall be in the form of a separate written agreement that will require the CITY to properly construct and maintain the additional landscaping without compensation from the DEPARTMENT. j. This Agreement shall not obligate the DEPARTMENT to pay the CITY to maintain any additional landscaping, planted after the effective date of this Agreement, within the limits of the PROJECT, and shall not obligate the CITY to maintain any such additional landscaping. 3. FINANCIAL PROVISIONS a. Eligible PROJECT costs may not exceed TWELVE THOUSAND SIX HUNDRED SEVENTY DOLLARS AND TWENTY NINE CENTS ($12,670.29), as outlined in Exhibit `B ", `Project Limits & Financial Summary'. b. The DEPARTMENT agrees to pay the CITY for the herein described services at a compensation as detailed in this Agreement. c. The CITY shall furnish the services with which to maintain the PROJECT LIMTS. Said PROJECT consists of services as detailed in Exhibit "A" of this Agreement. d. Payment shall be made only after receipt and approval of goods and services unless advanced payments are authorized by the DEPARTMENT's Comptroller under Section 334.044(29), F.S., or by the Department of Financial Services under Section 215.422(14), F.S. e. The CITY shall provide the following quantifiable, measurable and verifiable units of deliverables. Each deliverable must specify the required minimum level of service to be performed and the criteria for evaluating successful completion. Said deliverables consists of i. Small Machine Mowing ii. Litter Removal iii. Edging and Sweeping iv. Landscape Maintenance f. Invoices shall be submitted by the CITY in detail sufficient for a proper pre -audit and post audit thereof, based on the quantifiable, measurable and verifiable units of deliverables as established in Section c above and Exhibit `B ". Deliverables must be received and accepted in writing by the DEPARTMENT's Project Manager prior to payments. Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334-2 -7"2 Page 3 of 12 g. Supporting documentation must establish that the deliverables were received and accepted in writing by the CITY and that the required minimum level of service to be performed based on the criteria for evaluating successful completion as specified in Section a has been met. h. Travel costs will not be reimbursed. i. The CITY providing goods and services to the DEPARTMENT should be aware of the following time frames. Upon receipt, the DEPARTMENT has five (5) working days to inspect and approve the goods and services. The DEPARTMENT has twenty (20) days to deliver a request for payment (voucher) to the Department of Financial Services. The twenty (20) days are measured from the latter of the date the invoice is received or the goods or services are received, inspected, and approved. j. If a payment is not available within forty (40) days, a separate interest penalty at a rate as established pursuant to Section 55.03(1), F.S., will be due and payable, in addition to the invoice amount, to the CITY. Interest penalties of less than one (1) dollar will not be enforced unless the CITY requests payment. Invoices have to be returned to the CITY because of CITY preparation errors will result in a delay in the payment. The invoice payment requirements do not start until a properly completed invoice is provided to the DEPARTMENT. k. A Vendor Ombudsman has been established within the Department of Financial Services. The duties of this individual include acting as an advocate for the CITY who may be experiencing problems in obtaining timely payment(s) from a state agency. The Vendor Ombudsman may be contacted at 850- 413 -5516 or by calling the Department of Financial Services Hotline 1- 877 - 693 -5236. 1. Records of costs incurred under the terms of this Agreement shall be maintained and made available upon request to the DEPARTMENT at all times during the period of this Agreement and for five (5) years after final payment is made. Copies of these documents and records shall be furnished to the DEPARTMENT upon request. Records of costs incurred include the CITY's general accounting records and the project records, together with supporting documents and records, of the contractor and all subcontractors performing work on the project, and all other records of the contractor and subcontractors considered necessary by the DEPARTMENT for a proper audit of costs. m. In the event this contract is for services in excess of $25,000.00 and a term for a period of more than 1 year, the provisions of Section 339.135(6)(a), F.S., are hereby incorporated: "The DEPARTMENT, during any fiscal year, shall not expend money, incur any liability, or enter into any contract which, by its terms, involves the expenditure of money in excess of the amounts budgeted as available for expenditure during such fiscal year. Any contract, verbal or written, made in violation of this subsection is null and void, and no money may be paid on such contract. The DEPARTMENT shall require a statement from the Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 4 of 12 Comptroller of the DEPARTMENT that such funds are available prior to entering into any such contract or other binding commitment of funds. Nothing herein contained shall prevent the making of contracts for periods exceeding 1 year, but any contract so made shall be executory only for the value of the services to be rendered or agreed to be paid for in succeeding fiscal years; and this paragraph shall be incorporated verbatim in all contracts of the DEPARTMENT which are for an amount in excess of TWENTY FIVE THOUSAND DOLLARS ($25,000.00) and which have a term for a period of more than 1 year." n. The DEPARTMENT's obligation to pay is contingent upon an annual appropriation by the Florida Legislature. o. The CITY: i. Shall utilize the U.S. Department of Homeland Security's E -Verify system to verify the employment eligibility of all new employees hired by the CITY during the term of the contract; and V, 11.., ii., .Shall expressly require. any subcontractors performing work or providing services pursuant to the state contract to. _ likewise utilize the U.S. Department 'of Homeland Security's E -Verify system to verify the employment eligibility of all new employees hired by the subcontractor .,during the contract term. -4. COMMUN-ICAT'� ONS All notices, requests, demands, consents, approvals, and other communication which are required to be served or given hereunder, shall be in writing and shall be sent by certified U.S. mail, return receipt requested, postage prepaid, addressed to the party to receive such notices as follows: To DEPARTMENT: Florida Department of Transportation 1000 NW 111th Avenue, Room 6205 Miami, FL 33172 -5800 Attention: District Maintenance Engineer To CITY: City of Aventura 19200 West Country Club Drive Aventura, FL 33180 Attention: CITY Manager Notices shall be deemed to have been received by the end of five (5) business days from the proper sending thereof unless proof of prior actual receipt is provided. 5. INVOICING a. The CITY shall submit quarterly invoices for DEPARTMENT review, approval, and payment in accordance with this Agreement. Quarterly payments will be Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 5 of 12 made upon invoice approval in an amount not to exceed one fourth of the eligible PROJECT costs. Each invoice shall include proof that the areas under this Agreement were maintained using specified frequencies, at minimum. The supporting documents showing proof of work can be properly executed payroll, or time records, or Contractor's invoices, or vouchers evidencing in proper detail the nature and propriety of the charges. b. In the event temporary work by the DEPARTMENT's forces or by other Contractors temporarily prevent the CITY from performing the work described in this Agreement, the DEPARTMENT shall deduct from the affected quarterly payment(s) the acreage affected area and only compensate the CITY for the actual work it performs. i. The DEPARTMENT shall initiate this procedure only if the temporary work prevents the CITY from performing it work for a period of one (1) month or longer. c. In the event this Agreement is terminated as established in Section 8 herein, no payment will be prorated for the quarter in which termination occurs. 6. MAINTENANCE DEFICIENCIES If the District Maintenance Engineer determines that the CITY is not accomplishing its responsibilities under this Agreement, said District Maintenance Engineer may issue written notice, in care of the CITY on notice thereof. Thereafter, the CITY shall have a period of thirty (30) calendar days within which to correct the cited deficiency or deficiencies. If said deficiencies are not corrected within this time period the DEPARTMENT may, at its option, proceed as follows: a. Maintain the median or roadside area(s) declared deficient with DEPARTMENT and/or a Contractor's material, equipment and personnel. The actual cost for such work will be deducted from the DEPARTMENT's affected quarterly payment to the CITY; or b. Terminate this Agreement. 7. EXPIRATION/RENEWAL This Agreement is for a term of one (1) year beginning on the date provide in the Notice to Proceed; and may be renewed twice, only if mutually agreed to in writing by the DEPARTMENT and the CITY. Any such renewal shall be subject to the same terms and conditions set forth in this Agreement, and shall be contingent upon both satisfactory CITY performance evaluations by the DEPARTMENT and the availability of funds. This Agreement may be extended if mutually agreed in writing by both parties, for a period not to exceed six (6) months and shall be subject to the same terms and conditions set forth in this Agreement. There shall be only one (1) extension of this Agreement. Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 4073342 -78 -02 Page 6 of 12 8. TERMINATION This Agreement, or part hereof, is subject to termination under any one of the following conditions: a. In the event the DEPARTMENT exercises the option identified by Section 6 of this Agreement. b. As mutually agreed by both parties. c. In accordance with Section 287.058(1)(c), F.S., the DEPARTMENT shall reserve the right to unilaterally cancel this Agreement if the CITY refuses to allow public access to any or all documents, papers, letters, or other materials made or received by the CITY pertinent to this Agreement which are subject to provisions of Chapter 119, of the F.S. 9. ENTIRE AGREEMENT This Joint Participation Agreement is the entire Agreement between the parties hereto, and it may be modified or amended only by mutual consent of the parties in writing. 10. GOVERNING LAW This Agreement shall be governed and construed in accordance. with the laws of the State of Florida. 11. AMENDMENT This Agreement may be amended by mutual agreement of the DEPARTMENT and the CITY expressed in writing, executed and delivered by each party. 12. INVALIDITY If any part of this Agreement shall be determined to be invalid or unenforceable, the remainder of this Agreement shall not be affected thereby, if such remainder continues to conform to the terms and requirements of applicable law. 13. INDEMNIFICATION Subject to Section 768.28, Florida Statutes, as may be amended from time to time, the CITY shall promptly indemnify, defend, save and hold harmless the DEPARTMENT, its officers, agents, representatives and employees from any and all losses, expenses, fines, fees, taxes, assessments, penalties, costs, damages, judgments, claims, demands, liabilities, attorneys fees, (including regulatory and appellate fees), and suits of any nature or kind whatsoever caused by, arising out of, or related to the CITY'S exercise or attempted exercise of its responsibilities as set out in this AGREEMENT, including but not limited to, any act, action, neglect or omission by the CITY, its officers, agents, employees or representatives in any way pertaining to this agreement, whether direct or indirect, except that neither the CITY nor Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 7of12 any of its officers, agents, employees or representatives will be liable under this provision for damages arising out of injury or damages directly caused or resulting from the sole negligence of the DEPARTMENT. The CITY'S obligation to indemnify, defend and pay for the defense of the DEPARTMENT, or at the DEPARTMENT'S option, to participate and associate with the DEPARTMENT in the defense and trial of any claim and any related settlement negotiations, shall be triggered immediately upon the CITY'S receipt of the DEPARTMENT'S notice of claim for indemnification. The notice of claim for indemnification shall be deemed received if the DEPARTMENT sends the notice in accordance with the formal notice mailing requirements set forth in Section 5 of this AGREEMENT. The DEPARTMENT'S failure to notify the CITY of a claim shall not release the CITY of the above duty to defend and indemnify the DEPARTMENT. The CITY shall pay all costs and fees related to this obligation and its enforcement by the DEPARTMENT. The indemnification provisions of this section shall survive termination or expiration of this AGREEMENT, but only with respect to those claims that arose from acts or circumstances which occurred prior to termination or expiration of this AGREEMENT. The CITY'S evaluation of liability or its inability to evaluate liability shall not excuse the CITY'S duty to defend and indemnify the DEPARTMENT under the provisions of this section. Only an adjudication or judgment, after the highest appeal is exhausted, specifically finding the Department was solely negligent shall excuse performance of this provision by the CITY. IN WITNESS WHEREOF, the parties hereto have executed this Agreement, on the day and year above written. CITY OF AVENTURA: BY: CITY MANAGER ATTEST: (SEAL) CITY CLERK CITY ATTORNEY STATE OF FLORIDA, DEPARTMENT OF TRANSPORTATION: BY: Director, District Transportation Operations ATTEST: (SEAL) LEGAL REVIEW: EXECUTIVE SECRETARY DISTRICT CHIEF COUNSEL Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 8of12 Exhibit "A" Maintenance Responsibilities The CITY shall be responsible for the maintenance of all turf and landscape areas within the DEPARTMENTS right of way on S.R. 5/Biscayne Boulevard/US -1, in accordance with all applicable DEPARTMENT guidelines, standards, and procedures, which shall include but shall not be limited to the Maintenance Rating Program Handbook, as may be amended from time to time. Additionally, the CITY shall maintain the all turf and landscape areas in accordance with the International Society of Arboriculture standards, guidelines, and procedures, as may be amended from time to time. The CITY'S maintenance obligations shall include but not be limited to: a. Mowing, cutting and/or trimming and edging the grass and turf. b. Pruning all plant materials, which include trees, shrubs and ground covers, and parts thereof. C. Maintaining existing decorative bricks, mulch and other aesthetic features currently found within these corridors. d. Fertilizing, insecticide, pesticide, herbicide and watering will be required to maintain the current landscape and turf in its current healthy condition. e. Pruning such parts thereof which may present a visual or other safety hazard for those using or intending to use the right -of -way. f. Removing and disposing of all undesirable vegetation including but not limited to weeding of plant beds and removal of invasive exotic plant materials. g. Removing and properly dispose of dead, diseased or otherwise deteriorated plants in their entirety. h. Removing and disposing of all trimmings, roots, branches, litter, and any other debris. i. Submitting Lane Closure Requests to the DEPARTMENT when maintenance activities will require the closure of a traffic lane in the DEPARTMENT'S right - of -way. Lane closure requests shall be submitted through the District Six Lane Closure Information System, to the DEPARTMENT's area Permit Manager and in accordance with the District Six Lane Closure Policy, as may be amended from time to time. Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project# 407334 -2 -78-02 Page 9 of 12 FDOT Financial Project Number: 407334- 2 -78 -02 County: Miami -Dade FDOT Project Manager: Alex Perez, P.E. 305 -640 -7197 CITY Project Manager: Mr. Eric M. Soroka, City Manager Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 10 of 12 Exhibit "B" Project Limits & Financial Summary Below are the PROJECT limits and acreage of the areas to be maintained by the CITY under this Agreement. TOTAL ANNUAL AMOUNT ELIGIBLE FOR REIMBURSEMENT: $12,670.29 Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334- 2 -78 -02 Page 11 of 12 Exhibit "C" City of Aventura's Resolution To be herein incorporated once approved by the CITY Commission. Turf and Landscape Maintenance Joint Participation Agreement between the Florida Department of Transportation and the City of Aventura Financial Project # 407334 -2 -78-02 Page 12 of 12 CITY OF AVENTURA FINANCE DEPARTMENT MEMORANDUM TO: City Commission FROM: Eric M. Soroka, ICMA -CM, City Manager BY: Brian K. Raducci, Finance Director DATE: February 25, 2013 SUBJECT: Comprehensive Annual Financial Report (CAFR) Fiscal Year Ended September 30, 2012 March 5, 2013 City Commission Meeting Agenda Item S Recommendation It is recommended that the City Commission approve the following motion: "Motion to accept for filing of the Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2012 and the letter dated February 19, 2013 attached hereto as Attachment A." Background The CAFR, a letter from our independent auditors — Keefe, McCullough & Co., LLP dated February 19, 2013 and a staff - prepared memorandum were distributed to the City Commission on February 25, 2013. The Rules of the Auditor General, Chapter 10.550, require that the CAFR be filed as an official record at a public meeting. This motion satisfies that requirement. In addition, the auditors have requested that their letter dated February 19, 2013, identified as "Attachment A" on the staff - prepared memorandum, be accepted for filing with the City Commission. A representative from the auditing firm will be present at the March 5th City Commission meeting. However, since the CAFR is the City's responsibility, I respectfully request that any questions be discussed with the City Manager prior to the meeting. BKR /bkr ATTACHMENT A A LETTER FROM OUR INDEPENDENT AUDITORS - KEEFE, MCCULLOUGH & CO., LLP DATED FEBRUARY 19, 2013 Keefe, McCullough & Co., LLP Certified Public Accountants February 19, 2013 To the Honorable Mayor, Member of the City Commission and City Manager City of Aventura, Florida We have audited the financial statements of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of the City of Aventura, Florida (the "City"), for the year ended September 30, 2012. However, we did not audit the financial statements of the City of Aventura Police Officers' Retirement Plan Pension Trust Fund, which represent 100% of the total assets and the total revenues of the fiduciary funds. Those financial statements were audited by other auditors whose reports have been furnished to us. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards and Government Auditing Standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our engagement letter to you dated November 19, 2012. Professional standards also require that we communicate to you the following information related to our audit. Significant Audit Findings Qualitative Aspects of Accounting Practices Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the City are described in Note 1 to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during the current year. We noted no transactions entered into by the City during the year for which there is a lack of authoritative guidance or consensus. There are no significant transactions that have been recognized in the financial statements in a different period than when the transaction occurred. Accounting estimates are an integral part of the financial statements prepared by management and are based on management's knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the City's financial statements were as follows: • Defined Benefit Pension Plan - The net pension asset is calculated as the difference between the annual required contribution and the actual contributions made by the City. The City with input from its pension actuary developed the actuarial assumptions based on relevant criteria. Management reviewed and approved the financial statement estimates derived from the pension actuarial report. • Depreciation of capital assets - Depreciation is provided on a straight -line basis over the respective estimated useful lives ranging from 3 to 40 years. The City has informed us they used all relevant facts available to them at the time of acquisition to make the best judgments about the depreciation methods and estimated useful lives of capital assets. 6550 N. Federal Highway M Suite 410 '�' Fort Lauderdale, FL 33308 " " 954.771.0896 14 954.938.9353 (F) t� www.kmccpa.com City of Aventura, Florida - 2 - February 19, 2013 Net OPEB Obligation - In Florida, state statutes require that the employer make health insurance coverage available to retirees at the employer's group rate. This creates an implicit cost arising as a result of the blended rate premium since retiree health care costs, on average, are higher than those of active employee healthcare costs. In addition, the City's policy is to pay those premiums for certain department directors at retirement. The City obtained an actuarial valuation to record its estimated cost and liability in accordance with the requirements of GASB Statement No. 45, Accounting for Financial Reporting by Employers for Post - Employment Benefits Other than Pensions (OPEB). We evaluated the key factors and assumptions used by management to develop and report the above significant estimates in determining that they are reasonable in relation to the financial statements taken as a whole. Difficulties Encountered in Performing the Audit We encountered no difficulties in dealing with management in performing and completing our audit. Corrected and Uncorrected Misstatements Professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that are trivial, and communicate them to the appropriate level of management. There we no such misstatements identified during our audit. In addition, we are responsible to communicate adjustments made to the financial statements arising from our auditing procedures that could, in our judgment, have a significant effect on your current financial reporting /process. There were no such adjustments identified during our audit. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a financial accounting, reporting or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditors' report. We are pleased to report that no such disagreements arose during the course of our audit. Management Representations We have requested certain representations from management that are included in the management representation letter dated February 19, 2013. Management Consultations with Other Independent Auditors In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a "second opinion" on certain situations. If a consultation involves application of an accounting principle to the City's financial statements or a determination of the type of auditors' opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants. City of Aventura, Florida -3 - Other Audit Findings or Issues February 19, 2013 We are to discuss with the City Commission any major issues discussed with management in connection with our retention as auditors, including the application of accounting principles or auditing standards. There were no issues discussed with management in connection with our retention as auditors. This information is intended solely for the use of the City Commission and management of the City and is not intended to be and should not be used by anyone other than these specified parties. We would be pleased to discuss any questions that you may have. Kee�e, 7/11c Cu%lou�h & e.,1-47' KEEFE, McCULLOUGH & CO., LLP COMPREHENSIVE ANNUAL FINANCIAL REPORT OF THE CITY OF AVENTURA, FLORIDA FOR THE YEAR ENDED SEPTEMBER 30, 2012 1 t Prepared By The Finance Department Brian K. Raducci, Finance Director Brent Rogers, Controller CITY OF AVENTURA, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS September 30, 2012 PAGES INTRODUCTORY SECTION: Letter of Transmittal i -lv List of Principal Officials v Organizational Chart vi Certificate of Achievement for Excellence in Financial Reporting vii FINANCIAL SECTION: Independent Auditor's Report 1 -2 Management's Discussion and Analysis (Unaudited) 3 -12 Basic Financial Statements: Government -Wide Financial Statements: Statement of Net Assets 13 Statement of Activities 14 -15 Fund Financial Statements: Balance Sheet - Governmental Funds 16 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Assets 17 Statement of Revenues, Expenditures and Changes in Fund Balances - Governmental Funds 18 Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances of Governmental Funds to the Statement of Activities 19 Statement of Net Assets - Proprietary Fund 20 Statement of Revenues, Expenses and Changes in Net Assets - Proprietary Fund 21 Statement of Cash Flows - Proprietary Fund 22 Statement of Fiduciary Net Assets - Police Officers' Retirement Plan Fund 23 CITY OF AVENTURA, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS (continued) September 30, 2012 PAGES Statement of Changes in Fiduciary Net Assets - Police Officers' Retirement Plan Fund 24 Notes to Basic Financial Statements 25 -52 REQUIRED SUPPLEMENTARY INFORMATION: Budgetary Comparison Schedules: Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - General Fund 53 -55 Schedule of Revenue, Expenditures and Changes in Fund Balance - Budget and Actual - Street Maintenance Fund 56 Schedules of Funding Progress - Police Officers' Retirement Plan Fund and Other Post - Employment Benefits 57 Schedule of Contributions From the Employer and the State of Florida - Police Officers' Retirement Plan Fund 58 Notes to Required Supplementary Information 59 OTHER FINANCIAL INFORMATION: Combining Fund Financial Statements: Combining Balance Sheet - Other Nonmajor Governmental Funds 60 -61 Combining Statement of Revenues, Expenditures and Changes in Fund Balances - Other Nonmajor Governmental Funds 62 -63 Budgetary Comparison Schedules: Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Special Revenue Funds 64 -67 Schedules of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Debt Service Funds 68 -71 STATISTICAL SECTION (NOT COVERED BY INDEPENDENT AUDITORS' REPORT): Table 1 - Net Assets by Component Table 2 - Changes in Net Assets 72 73 -74 Table 3 - Governmental Activities Tax Revenues by Source 75 CITY OF AVENTURA, FLORIDA COMPREHENSIVE ANNUAL FINANCIAL REPORT TABLE OF CONTENTS (continued) September 30, 2012 PAGES Table 4 - Fund Balances of Governmental Funds 76 Table 5 - Changes in Fund Balances of Governmental Funds 77 -78 Table 6 - General Governmental Tax Revenues by Source 79 Table 7 - Assessed Value and Estimated Actual Assessed Value of Taxable Property 80 Table 8 - Property Tax Rates - Direct and Overlapping Governments 81 -82 Table 9 - Principal Property Taxpayers 83 Table 10 - Property Tax Levies and Collections 84 Table 11 - Ratios of Outstanding Debt by Type 85 Table 12 - Ratios of General Bonded Debt Outstanding 86 Table 13 - Direct and Overlapping Governmental Activity Debt 87 Table 14 - Legal Debt Margin Information 88 Table 15 - Demographic and Economic Statistics 89 Table 16 - Occupational Employment by Group - Miami -Dade County, Florida 90 Table 17 - Full -Time Equivalent City Government Employees by Function 91 Table 18 - Operating Indicators by Function 92 Table 19 - Capital Asset Statistics by Function 93 COMPLIANCE SECTION: Independent Auditors' Report on Internal Control Over Financial Reporting and On Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards 94 -95 Independent Auditors' Report on Compliance with Requirements that Could Have a Direct and Material Effect on Each Major Program and on Internal Control Over Compliance in Accordance with OMB Circular A -133 96 -97 Independent Auditors' Report to City Management 98 -99 Schedule of Expenditures of Federal Awards 100 Notes to Schedule of Expenditures of Federal Awards 101 Schedule of Findings and Questioned Costs 102 (This page intentionally left blank.) INTRODUCTORY SECTION K February 19, 2013 To the Honorable Mayor, Members of the City Commission and Citizens of the City of Aventura, Florida City ®f Aventura Government Center 19200 West Country Club Drive Aventura, Florida 33180 SUSAN GOTTLIEB MAYOR COMMISSIONERS ENBAR COHEN TERIHOLZBERG BILLY JOEL MICHAEL STERN HOWARD WEINBERG LUZ URBAEZ WEINBERG ERIC M. SOROKA, ICMA -CM CITY MANAGER In accordance with Section 11.45, Florida Statutes and Section 4.11 of the City of Aventura (the "City ") Charter, submitted herewith is the City's Comprehensive Annual Financial Report (the "CAFR ") for the fiscal year ended September 30, 2012. The financial statements included in this report conform to the generally accepted accounting principles in the United States ( "GAAP ") as prescribed by the Governmental Accounting Standards Board ( "GASB "). The City is responsible for the accuracy of the data and the completeness and fairness of the presentation, including all disclosures. The financial statements have been audited by Keefe, McCullough & Co., LLP., C.P.A.'s. The independent auditors have issued an unqualified opinion that this report fairly presents the financial position of the City and complies with all reporting standards noted above. The contents of this report are aimed at compliance with GASB pronouncements, including Statement No. 34, requiring the preparation of government -wide financial statements on a full accrual basis of accounting for all funds and including Management's Discussion and Analysis. Also included are additional and enhanced Statistical Tables required by GASB Statement No. 44. THE REPORTING ENTITY AND ITS SERVICES The City was incorporated on November 7, 1995 and is a political subdivision of the State of Florida. The City operates under a commission - manager form of government and provides General Government, Public Safety and Community Services to its residents and business community. The Mayor and six (6) Commissioners are responsible for establishing the City's policies. The Mayor and Commission appoint the City Manager who is the Chief Administrative Officer of the City and is responsible for implementing policies adopted by the Commission. This report includes all of the funds for which the City is financially accountable. Although the Miami -Dade Board of County Commissioners, Miami -Dade District School Board, South Florida Water Management District and Florida Inland Navigation District levy and collect taxes on property located within the City's corporate limits, financial information on these taxing authorities is not included in this report since each has a separate elected governing body, are legally separate and are fiscally independent of the City. Annual financial reports of these units of government are available upon request from each authority. PHONE: 305- 466 -8900 ■ FAX: 305 -466 -8939 www.cityofaventura.com ECONOMIC CONDITIONS AND OUTLOOK The City serves an area of approximately 4 square miles with a population of nearly 37,000 residents. Prior to incorporation, the City received services from Miami -Dade County (the "County ") as a part of their unincorporated municipal services taxing unit. The City received no real property, facilities or equipment from the County upon incorporation. Fiscal Year 2012 The City's combination of upscale residential and commercial developments resulted in a taxable value of approximately $7.3 billion within a land area of less than 4 square miles. After three consecutive years of decline due to the economic recession, the City's taxable value has increased this year and overall property values are beginning to stabilize. Recently, we have witnessed positive signs that the local economy has shown some improvement. The number of building permits and applications for commercial and residential projects are on the upswing. Importantly, these new projects will produce jobs for the local economy. However, as we continue to observe, the recovery from this economic downturn is slower and longer than previous recoveries. MAJOR INITIATIVES In the continued effort in making the maintenance of its infrastructure a priority, the City completed the following major capital improvements during fiscal year 2012: ✓ Founders Park Improvements ✓ Mall Informational Sign ✓ Biscayne Boulevard Decorative Lighting Improvements Phase I ✓ Country Club Drive Bus Shelters ✓ NE 191St Street, NE 188`" Street and NE 31St Avenue Asphalt Overlay In addition, the following major capital improvements were in process at the end of fiscal year 2012: • Biscayne Boulevard Decorative Lighting Improvements Phase II • Government Center Parking Expansion In 2012, the Aventura Police Department completed the construction of a new Training Center that is located on the 3`d floor of the Aventura Government Center. The Training Center includes a state of the art classroom, simulation room, a defensive tactics room and office space. This project recognizes that the foundation for improved police officer safety, professionalism and liability reduction relies on making officer training an ongoing priority. The Aventura Arts & Cultural Center completed its second season and doubled the number of ticket buyers from the previous year. The Center has become the cultural heart of the City since opening in 2010. Thousands have enjoyed a wide range of shows in this beautiful waterfront facility. Since its opening on August 25, 2003, the Aventura Charter Elementary School ( "School ") has achieved several milestones in the City's short history. The School was the first within the City's boundaries and the first municipal sponsored charter school in Miami -Dade County. The 2011/12 school year represented the ninth year of operations of the School. The School has been well received and has been at full capacity since its inception. The School has obtained academic success receiving an "A" grade issued by the State of Florida for the past eight (8) years. The School served 972 students in the 2011/12 school year and will serve 984 students in the 2012/13 school year. FINANCIAL INFORMATION Internal Accounting Control Management of the City is responsible for establishing and maintaining internal controls designed to ensure that adequate accounting data are compiled to allow for the preparation of financial statements in conformity with GAAP. Internal control is designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. All internal control evaluations occur within the above framework. We believe that the City's internal accounting controls adequately safeguard assets and provide reasonable assurance of proper recording of financial transactions. ii Budgetary Control An annual appropriated budget is adopted for all governmental funds with the exception of the Charter School Fund, Federal Forfeiture Fund and Law Enforcement Trust Fund (Special Revenue Funds). In accordance with City Ordinance, appropriations are legally controlled at the Department level. Encumbrance accounting, under which purchase orders and other commitments for the expenditure of funds are recorded in the accounting records and is utilized throughout the fiscal year. Overview of Financial Activity The accompanying financial statements reflect that the City has continued to expand its services to meet the demands of its residential and business communities. A summary of the major financial activities is included in the Management Discussion & Analysis Section of this report. Fund Balances In fiscal year 2011, the City implemented Governmental Accounting Standards Board (GASB) Statement No. 54 "Fund Balance Reporting and Governmental Fund Type Definitions" for its governmental activities. GASB Statement No. 54 establishes various classifications of fund balance based on a hierarchy which details constraints placed on the use of resources by creditors, grantors, contributors, laws or regulations of other governments and those internally imposed. Fund balances classified as restricted are those with externally enforceable limitations on use. Fund balances classified as committed can only be used for specific purposes determined by formal action of the City Commission through an ordinance. Commitments can only be changed or lifted only by the City Commission through formal action. Assigned fund balances are amounts that the City intends to use for a specific purpose but are neither restricted nor committed. The intent to utilize these funds is delegated to the City Manager. Unassigned fund balance can be viewed as the net resources available at the end of the year. Retirement Programs The City contributed to four (4) defined contribution pension plans based on employee classifications created in accordance with Internal Revenue Code Section 401(a). The plans currently cover all full -time employees of the City. Under these plans, the City contributes between 7% and an amount equal to the annual IRS maximum, depending on the employee classification. There are no employee contributions. Employer contributions for the fiscal year ended September 30, 2012 were approximately $843,000. A defined contribution pension plan provides pension benefits in return for services rendered, provides an individual account for each participant and specifies how contributions to the individual's account are to be determined instead of specifying the amount of benefits the individual is to receive. Under a defined contribution pension plan, the benefits a participant will receive depend solely on the amount contributed to the participant's account, the returns earned on investments on those contributions, and forfeitures of other participant's benefits that may be reallocated to such participant's account. In order to encourage employees to supplement the defined contribution plan, a deferred compensation program is also available to all full -time employees. Under this program, employees may voluntarily elect to defer a portion of their salary to future years. Both programs are administered by the ICMA Retirement Corporation under a trust agreement. The plan assets are separate and the City does not exercise any control or fiduciary responsibility over the assets. Therefore, the assets, liabilities and transactions are not included in the City's financial statements. As discussed in the Notes to the Financial Statements, the City, through collective bargaining with the City's police officers agreed to establish a defined benefit retirement program covering all sworn officers. This program is funded by a combination of City and employee contributions and state insurance premium taxes. Please see Note 12 in the Notes to the Financial Statements for a detailed discussion of the retirement program. Financing Programs and Debt Administration The City currently has four (4) outstanding long -term debt issues. At September 30, 2012, the principal balance outstanding totaled $28,805,000. The Series 2000 Revenue Bonds are bank qualified debt, secured solely by a covenant to budget and appropriate the required debt service payments each year. This loan is structured the same as a serial bond issue with principal payments due on October 1 St and semi - annual interest payments due on April 1St and October 1St of each year with the final maturity on October 1, 2020. Debt service requirements average approximately $535,000 per year over the 20 -year life of the obligation. The interest rate is locked at 5.04 %. iii Due to a very favorable interest rate environment, in June of 2012, the City refunded the original Series 2002 Revenue Bonds with a Bank Loan (described below) that resulted in a more than $2.5M NPV savings over the life of the loan. The Series 2012 Refunding Revenue Bonds are bank qualified debt, secured solely by a covenant to budget and appropriate the required debt service payments each year. This loan is structured the same as a serial bond issue with principal payments due August 1St and semi - annual interest payments due on February 1st and August 1St of each year with the final maturity on August 1, 2027. Debt service requirements average approximately $779,000 per year over the 15 -year life of the obligation. The interest rate is locked at 2.18 %. The Series 2010 Refunding Revenue Bonds are bank qualified debt, secured solely by a covenant to budget and appropriate the required debt service payments each year. This loan is structured the same as a serial bond issue with principal payments due on April 1St and semi - annual interest payments due on April 1St and October 1s' of each year with the final maturity on April 1, 2029. Debt service requirements average approximately $751,000 per year over the 19 -year life of the obligation. The interest rate is locked at 3.42 %. The Series 2011 Refunding Revenue Bonds are bank qualified debt, secured solely by a covenant to budget and appropriate the required debt service payments each year. This loan is structured the same as a serial bond issue with principal payments due on April 1st and semi - annual interest payments due on April 1st and October 1st of each year with the final maturity on April 1, 2029. Debt service requirements average approximately $406,000 per year over the 19 -year life of the obligation. The interest rate is locked at 3.64 %. OTHER INFORMATION Independent Audit In accordance with Section 11.45(3)(a) (4), Florida Statutes, and Article I, Section 4.11 of the City Charter, the City engaged the firm of Keefe, McCullough & Co., LLP, to perform the independent audit of the City's accounts and records. The independent auditors' reports are included in the Financial section. Certificate of Achievement The Government Finance Officers Association of the United States and Canada ( "GFOA ") awarded a Certificate of Achievement for Excellence in Financial Reporting to the City of Aventura for its CAFR for the fiscal year ended September 30, 2011. This was the sixteenth consecutive year that the City has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized CAFR. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current comprehensive annual financial report continues to meet the Certificate of Achievement Program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. Acknowledgements The preparation of this report on a timely basis could not have been accomplished without the efficient and dedicated services of the entire Finance Department. We express our appreciation to all members of the Department who assisted and contributed to its preparation. We also wish to thank the City Commission for their interest and support in planning and conducting the City's financial operations in a responsible and progressive manner. Respectful) mitted, Eric M. Soroka, C A -CM City Manager W Brian K. Raducci Finance Director CITY OF AVENTURA, FLORIDA LIST OF PRINCIPAL OFFICIALS Title Name Mayor Susan Gottlieb Commissioner Teri Holzberg Commissioner Michael Stern Commissioner Howard Weinberg Commissioner Billy Joel Commissioner Enbar Cohen Commissioner Luz Urbaez Weinberg City Manager Eric M. Soroka Finance Director Brian K. Raducci Community Services Director Robert M. Sherman City Clerk Teresa M. Soroka Community Development Director Joanne Carr Police Chief Steven Steinberg Information Technology Director Karen J. Lanke Charter School Principal Julie Alm Arts & Cultural Center General Manager Steven D. Clark City Attorney Weiss Serota Helfman Pastoriza Cole & Boniske, P.L. City Auditor Keefe, McCullough & Co., LLP v Legal Selvices, 11==11 Pokoe P,*01 community "Agn Troffic E"forvemort Er"roemey Finiparednesa CITY OF AVENTURA Organizational Chart I Community Development Department I Planniry ZQMMq Mikfirtg Inspections Code Enowaamerd Fowtomic ❑evelopmerd Occupational Lroonea City Clark Minules Records Retwition Clerical support Elections. C,b~ SdU)W Aft&Cuft"l 111 "I"Im"On Coster Department DepartmenTochftkw t K-8 Sottool Facifty Managemard Informadori 4wagamew Performing Ads Prognaintraig C-11UN11-5— M Comffmrdty services Department Conirnunity Faattft P**smsauhlicstion ROMMOdian Wint. Public Waft Mass Transit Special Everft RecrearborVOufturat Certificate of Achievement for Excellence in Financial Reporting Presented to City of Aventura Florida For its Comprehensive Annual Financial Report for the Fiscal Year Ended September 30, 2011 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial reports (CAFRs) achieve the highest standards in government accounting and financial reporting. 6L;&W0- P *01�0 An r MW 0MINN President 400 ---V GoIr *4f*vw 40--1 Executive Director vii (This page intentionally left blank.) FINANCIAL SECTION Keefe, • r ti Certified Public Accountants INDEPENDENT AUDITORS' REPORT To the Honorable Mayor Members of the City Commission and City Manager City of Aventura, Florida We have audited the accompanying financial statements of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of the City of Aventura, Florida (the "City "), as of and for the fiscal year ended September 30, 2012, which collectively comprise the City's basic financial statements as listed in the table of contents. These financial statements are the responsibility of the City's management. Our responsibility is to express opinions on these financial statements based on our audit. We did not audit the financial statements of the City of Aventura Police Officers' Retirement Plan Pension Trust Fund, which represent 100% of the total assets and the total revenues of the fiduciary funds. Those financial statements were audited by other auditors whose reports thereon have been furnished to us, and our opinion, insofar as it relates to the amounts included for the City of Aventura Police Officers' Retirement Plan Pension Trust Fund, is based on the report of the other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit and the report of other auditors' provide a reasonable basis for our opinions. In our opinion, based on our audit and the report of other auditors, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business -type activities, each major fund and the aggregate remaining fund information of the City, as of September 30, 2012, and the respective changes in financial position and, where applicable, cash flows, thereof for the year then ended in conformity with accounting principles generally accepted in the United States of America. In accordance with Government Auditing Standards, we have also issued our report dated February 19, 2013, on our consideration of the City's internal control over financial reporting and our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards and should be considered in assessing the results of our audit. 6550 N. Federal Highway Suite 410 N Fort Lauderdale, FL 33308 8 954.771.0896 S 954.938.9353 (F) 6 www.kmccpa.com City of Aventura, Florida Accounting principles generally accepted in the United States of America require that the management's discussion and analysis and the schedules of funding progress for pension and other post- employment benefits, and contributions from the employer and the State of Florida on pages 3 through 12 and 57 through 58, respectively, be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We and the other auditors have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management regarding the methods of preparing the information and comparing the information for consistency with management's responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City's financial statements as a whole. The introductory section, other financial information, budgetary comparison schedules, and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The accompanying schedule of expenditures of Federal awards is presented for purposes of additional analysis as required by U.S. Office of Management and Budget Circular A -133, Audits of States, Local Governments and Non - Profit Organizations, and is also not a required part of the financial statements. The other financial information, budgetary comparison schedules, and schedule of expenditures of Federal awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole. The introductory section and statistical section have not been subjected to the auditing procedures applied in the audit of the basic financial statements and, accordingly, we do not express an opinion or provide any assurance on it. Fort Lauderdale, Florida February 19, 2013 2 KEEFE, McCULLOUGH & CO., LLP CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 As management of the City of Aventura (the "City "), we offer readers of the City's financial statements this narrative overview and analysis of the City's financial activities for the fiscal year ended September 30, 2012. We encourage readers to consider the information presented herein in conjunction with the Letter of Transmittal, which can be found on pages i through iv of this report. All amounts, unless otherwise indicated, are expressed in thousands of dollars. Financial Highlights The City's total net assets increased by $ 1.9 million over the course of this year's operations. Net assets of our business -type activities increased by $ 0.1 million, and the net assets of our governmental activities increased by $ 1.8 million. The assets of the City exceeded its liabilities at the close of the most recent fiscal year by $ 109.9 million (net assets). Of this amount, $ 41.3 million (unrestricted net assets) may be used to meet the government's ongoing obligations to citizens and creditors. At the end of the current fiscal year, unrestricted fund balance for the General Fund was $ 39.6 million or 137% of total General Fund expenditures. Overview of the Financial Statements The financial section of this annual report consists of four (4) parts — management's discussion and analysis (this section), the basic financial statements, required supplementary information, and a supplementary information section that presents combining and individual fund statements and schedules. Financial Section I MANAGEMENT'S DISCUSSION AND ANALYSIS I I BASIC FINANCIAL STATEMENTS I Government -Wide (Full Accrual) Fund Governmental Activities Governmental (Modified Accrual) Business -Type Activities Proprietary (Full Accrual) (No Fiduciary Activities) Fiduciary (Full Accrual) Notes to the Financial Statements REQUIRED SUPPLEMENTARY INFORMATION OTHER FINANCIAL INFORMATION Supplementary Information - Combining Fund Financial Statements and Budgetary Comparison Schedules CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Major Features of the Basic Financial Statements Government -Wide Financial Statements Scope Entire City government (except fiduciary activities) Required financial * Statement of net assets statements * Statement of activities Accounting basis Accrual accounting and and measurement economic resources focus focus Type of asset/ All assets and liabilities, both liability information financial and capital, and short -term and long -term Basic Financial Statements Fund Financial Statements Governmental Funds Proprietary Funds Fiduciary Funds Activities of the City that Activities of the City that Instances in which the are not proprietary or fiduciary • Balance sheet • Statement of revenues, expenditures, and changes in fund balances Modified accrual accounting and current financial resources focus Only assets expected to be used up and liabilities that come due during the year or soon thereafter, no capital assets and long- term liabilities included are operated similar to private business * Statement of net assets * Statement of revenues, expenses, and changes in net assets *Statement of cash flows Accrual accounting and economic resources focus All assets and liabilities, both financial and capital, and short -term and long -term City is the trustee or agent for someone else's resources * Statement of fiduciary net assets * Statement of changes in fiduciary net assets Accrual accounting and economic resources focus All assets and liabilities, both short -term and long -term Government -wide financial statements. The focus of the government -wide financial statements is on the City's overall financial position and its activities. Reporting is similar to that of a private- sector business. The government -wide financial statements report information about the City as a whole and about its activities in a way that helps answer questions about the City's financial health and whether the current year activities contributed positively or negatively to that health. The City's government -wide financial statements include the statement of net assets and statement of activities. As described below, these statements do not include the City's fiduciary activities because resources of these funds cannot be used to finance the City's activities. However, the financial statements of fiduciary activities are included in the City's fund financial statements because the City is financially accountable for those resources, even though they belong to other parties. The Statement of Net Assets presents information on the assets held and liabilities owed by the City, both long and short -term. Assets are reported when acquired by the City and liabilities are reported when they are incurred, regardless of the timing of the related cash flows to acquire these assets or liquidate such liabilities. For example, the City reports buildings and infrastructure as assets even though they are not available to pay the obligations incurred by the City. On the other hand, the City reports liabilities, such as other post - employment benefits even though these liabilities might not be paid until several years into the future. 4 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 The difference between the City's total assets and total liabilities is net assets. Over time, increases or decreases in net assets may serve as a useful indicator of whether the City's financial position is improving or deteriorating. Although the City's purpose is not to accumulate net assets, in general, as this amount increases it indicates that the City's financial position is improving over time. The Statement of Activities presents the revenues and expenses of the City. The items presented on the statement of activities are measured in a manner similar to the approach used in the private- sector, in that revenues are recognized when earned and expenses are reported when incurred. Accordingly, revenues are reported even when they may not be collected for several months after the end of the accounting period and expenses are recorded even though they may not have used cash during the current period. Both of the government -wide financial statements distinguish City functions that are principally supported by taxes and intergovernmental revenue (governmental activities) from other functions that are intended to recover all or a significant portion of their costs through user fees and charges (business -type activities). The City's governmental activities include general government, public safety and community services. The City's business -type activities include stormwater utility. Fund financial statements. Unlike government -wide financial statements, the focus of fund financial statements is directed to specific activities of the City rather than the City as a whole. Except for the General Fund, separate funds are established to maintain control over resources that have been segregated for specific activities or objectives. The City, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance - related legal requirements. All of the funds of the City can be divided into three (3) categories: governmental funds, proprietary funds and fiduciary funds. Governmental funds. Financial statements consist of a balance sheet and a statement of revenues, expenditures, and changes in fund balances. These statements are prepared on an accounting basis that is significantly different from that used to prepare the government -wide financial statements. In general, these financial statements have a short -term emphasis and, for the most part, measure and account for cash and other assets that can easily be converted to cash. For example, amounts reported on the balance sheet include items such as cash and receivables but do not include capital assets such as land and buildings. The difference between a fund's total assets and total liabilities is the fund balance, and generally indicates the amount that can be used to finance the next fiscal year's activities. The operating statement for governmental funds reports only those revenues that were collected during the current period or very shortly after the end of the year. Expenditures are recorded when incurred. For the most part, the balances and activities accounted for in governmental funds are also reported in the governmental activities columns of the government -wide financial statements. However, because different accounting basis are used to prepare governmental fund financial statements and government -wide financial statements, there are often significant differences between the totals presented. For this reason, there is an analysis after the governmental funds balance sheet that reconciles the total fund balances for all governmental funds to the amount of net assets presented in the governmental activities column on the statement of net assets. Also, there is an analysis after the statement of revenues, expenditures and changes in fund balances that reconciles the total change in fund balances for all governmental funds to the change in net assets as reported in the governmental activities column in the statement of activities. CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Proprietary funds. Financial statements consist of a statement of net assets, statement of revenues, expenses, and changes in fund net assets and statement of cash flows. These statements are prepared on an accounting basis that is similar to the basis used to prepare the government - wide financial statements. For financial reporting purposes, proprietary funds are grouped into Enterprise Funds and Internal Service Funds. The City uses Enterprise Funds to account for business -type activities that charge fees to customers for the use of specific goods or services. These funds are used to report the same functions presented as business -type activities in the government -wide financial statements. Internal Service funds are used to account for services provided and billed on an internal basis. The City does not have any Internal Service Funds. Proprietary funds provide the same type of information as the government -wide financial statements, only in more detail. The City has one major enterprise fund, the Stormwater Utility fund. A statement of cash flows is presented at the fund financial statement level for proprietary funds, but no equivalent statement is presented in the government -wide financial statements for either governmental activities or business -type activities. Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside the government. Fiduciary funds are not reflected in the government -wide financial statement because the resources of those funds are not available to support the City's own programs. Fiduciary financial statements consist of a statement of fiduciary net assets and a statement of changes in fiduciary net assets. The City reports one fiduciary fund to account for the Police Officers' Retirement Plan. Notes to the financial statements. The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. Required Supplementary Information In addition to the basic financial statements and accompanying notes, this report also presents certain required supplementary information concerning various issues such as a comparison between the City's adopted and final budget and actual financial results for its General Fund and major special revenue funds (if applicable). The City adopts an annual appropriated budget for its governmental funds. A budgetary comparison schedule has been provided for the General Fund and major special revenue funds (if applicable) to demonstrate compliance with this budget. Required supplementary information is also presented for the City's defined benefit pension plan including a schedule of funding progress and schedule of employer and State of Florida contributions as well as a schedule of funding progress for other post- employment benefits. Combining and Individual Fund Statements and Schedules Combining statements referred to earlier in connection with nonmajor governmental, internal service and fiduciary funds are presented immediately following the required supplementary information. Additional budgetary schedules are presented in this section including, as applicable, nonmajor special revenue funds, debt services funds, and capital projects funds. 0 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Government -Wide Financial Analysis The table below presents a summary of net assets as of September 30, 2012 and 2011, derived from the government -wide Statement of Net Assets: Net Assets (in thousands) Governmental Business -Type Activities Activities Total 2012 2011 2012 2011 2012 2011 Current and other assets $ 48,263 $ 46,190 $ 1,473 $ 1,037 $ 49,736 $ 47,227 Capital assets 87,374 89,013 7,127 7,424 94,501 96,437 Total assets 135,637 135,203 8,600 8,461 144,237 143,664 Long -term liabilities 30,928 32,460 - - 30,928 32,460 Other liabilities 3,392 3,211 44 44 3,436 3,255 Total liabilities 34,320 35,671 44 44 34,364 35,715 Net assets: Invested in capital assets, net of related debt 59,177 59,216 7,127 7,424 66,304 66,640 Restricted 2,240 1,694 - - 2,240 1,694 Unrestricted 39,900 38,622 1,429 993 41,329 39,615 Total net assets $ 101,317 $ 99,532 $ 8,556 $ 8,417 $ 109,873 $ 107,949 As noted earlier, net assets may serve over time as a useful indication of a government's financial position. At the close of the most recent fiscal year, the City's assets exceeded its liabilities by $ 110 million. The largest portion of the City's net assets is net assets invested in capital assets net of related debt and is 60% of total net assets. This category reflects its investment in capital assets net of any outstanding related debt used to acquire these assets. The City uses these capital assets to provide services to the citizens of the City; consequently these net assets are not available for future spending. Although the capital assets are shown net of debt, it should be noted that the resources needed to repay this debt must be provided from other sources. The next largest portion of the City's net assets is unrestricted and is 38% of total net assets. Unrestricted net assets represent resources that are available for spending. Restricted net assets represent 2% of total net assets. Restricted net assets represent resources that are subject to external restrictions on how they can be used. Capital assets and invested in capital assets, net of related debt, decreased $ 1.6 million and $ 0.04 million, respectively, in the governmental activities primarily due to the increase in accumulated depreciation, disposal of equipment and decrease in related debt. Current and other assets and unrestricted net assets in the governmental activities increased by $ 2.1 million and $ 1.3 million, respectively, due to the increase in cash which primarily resulted from higher than anticipated revenues from intergovernmental activities, licenses and permits, charges for services, and fines and forfeitures and lower than anticipated expenditures. There were no significant changes in business -type activities. /I CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Over time, increases and decreases in net assets measure whether the City's financial position is improving or deteriorating. In the current fiscal year, property taxes remained relatively stable as the assessed value of our taxable property increased modestly over the prior year coupled with no change in our ad valorem millage rate. Franchise fees - electric increased by $ 0.36 million as Florida Power & Light Co. experienced an increase in its total revenue. We also experienced an increase of $ 0.74 million in intergovernmental revenues as state revenue sharing and half cent sales tax grew $ 0.04 million and $ 0.38 million, respectively as the economy showed some signs of recovery. The table below presents a summary of changes in net assets for the years ended September 30, 2012 and 2011, as derived from the government -wide Statement of Activities: Changes in Net Assets (in thousands) Governmental Business -Type Activities Activities Total 2012 2011 2012 2011 2012 2011 Revenues: 4,977 4,917 - - Program revenues: 4,917 Public safety 19,571 18,928 Charges for services $ 7,035 $ 6,513 $ 893 $ 844 $ 7,928 $ 7,357 Operating grants and 14,948 - - 15,188 contributions 7,032 7,560 - - 7,032 7,560 Capital grants and 1,187 1,396 Stormwater utility - contributions 677 500 - 109 677 609 General revenues: 40,923 40,189 758 827 Property taxes 11,724 11,734 - - 11,724 11,734 Utility service taxes 7,772 7,380 - - 7,772 7,380 Franchise fees 3,070 2,684 - - 3,070 2,684 Intergovernmental revenues 4,917 4,182 - - 4,917 4,182 Other revenues 481 782 4 3 485 785 Total revenues 42,708 41,335 897 956 43,605 42,291 Expenses: General government 4,977 4,917 - - 4,977 4,917 Public safety 19,571 18,928 - - 19,571 18,928 Community services 15,188 14,948 - - 15,188 14,948 Interest on long -term debt 1,187 1,396 - - 1,187 1,396 Stormwater utility - - 758 827 758 827 Total expenses 40,923 40,189 758 827 41,681 41,016 Increase in net assets before transfers 1,785 1,146 139 129 1,924 1,275 Transfers - - - - - - Change in net assets 1,785 1,146 139 129 1,924 1,275 Net assets, beginning 99,532 98,386 8,417 8,288 107,949 106,674 Net assets, ending $ 101,317 $__99 532 $ 8,556 $ 8,417 $ 109,873 $ 107,949 Financial Analysis of the City of Aventura's Funds As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance- related legal requirements. 8 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Governmental Funds The focus of the City's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City's financing requirements. In particular, unrestricted fund balance (committed, assigned, and unassigned) may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. The General Fund is the City's chief operating fund. At end of the current fiscal year, unrestricted fund balance of the General Fund was $ 38.1 million while the total fund balance reached $ 39.6 million. Much of the unrestricted fund balance will be utilized in future years to fund various capital needs and to maintain a hurricane /emergency and disaster recovery reserve. As a measure of the General Fund's liquidity, it may be useful to compare both unrestricted fund balance and total fund balance to total general fund expenditures. Unrestricted fund balance and total fund balance represent 137% of total general fund expenditures. Approximately 36% of the General Fund total fund balance - $ 14.1 million constitutes unassigned fund balance, which is available for spending at the government's discretion. The fund balance of the City's General Fund increased by $ 1.4 million during the current fiscal year. Key factors of this increase are as follows: • An increase in franchise fees - electric of $ 0.36 million as Florida Power & Light Co. experienced an increase in its total revenue. • An increase of $ 0.04 million in state revenue sharing and an increase of $ 0.38 million in half cent sales tax as the economy began to recover. • An increase in licenses and permits revenue of $ 0.08 million primarily due to higher than anticipated building activity. • Capital outlay budgeted expenditures of $ 1.5 million which were incomplete at the end of the fiscal year which will be reappropriated in fiscal year 2013. The Charter School Fund is used to record the operations of the Aventura City of Excellence School. The School's intergovernmental revenues decreased by $ 0.7 million due to revenue reductions imposed by the State to balance the State Budget. Additionally, expenditures increased $ 0.1 million primarily as a result of teachers salary increases based on years of service and new teacher positions added to accommodate the capacity of students. The Street Maintenance Fund is used to record the operations of the street maintenance and construction costs, which are designated by State Statute. Debt Service Fund 2000 Series is used to record principal retirement and did not have any significant changes from the prior year. Proprietary Fund The proprietary fund showed a $ 0.1 million increase in net assets from the prior year. Total revenues increased by approximately $ 49,000 and expenses decreased by approximately $ 69,000; due to a decrease in cost of sales and services of approximately $ 67,000 and a reduction in depreciation expense of approximately $ 2,000. 2 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 General Fund Budgetary Highlights During the year, the original budget was amended and revenues and expenditures were increased by approximately $ 1.9 million as follows: • $ 0.66 million related to the reappropriation of remaining capital funds from fiscal year 2011 for various capital projects which were incomplete at the end of that fiscal year. • $ 0.56 million related to the increase in building permit activity. • $ 0.38 million related to operational overages in various departments which were offset by additional revenue. • $ 0.30 million related to capital outlay overages in various departments which were offset by additional revenue During the year, revenues exceeded budgetary estimates and expenditures were less than budgetary estimates, resulting in a positive variance in the net change in fund balance of approximately $ 1.4 million. As explained earlier, much of the unrestricted fund balance will be utilized in future years to fund various capital needs. Utility service taxes, intergovernmental revenues, licenses and permits, charges for services, and fines and forfeitures revenue exceeded the revised budget by $ 0.07 million, $ 0.3 million, $ 0.1 million, $ 0.2 million and $ 0.08 million, respectively. Nondepartmental capital outlay was $ 14.8 million less than budgeted because the City budgets a reserve for future capital expenditures which accounts for the majority of the appropriated beginning fund balance. Capital Assets and Debt Administration Capital Assets As of September 30, 2012 and 2011, the City had $ 94.5 and $ 96.4, respectively, invested in a variety of capital assets, as reflected in the following schedule: Capital assets (in thousands, net of depreciation) Debt Administration As of year -end, the City had $ 28.805 million in debt outstanding compared to the $ 30.045 million last year, a 4.1 % decrease. All debt is secured only by a covenant to budget and appropriate. 10 Governmental Business -Type Activities Activities Total 2012 2011 2012 2011 2012 2011 Land $ 17,102 $ 17,102 $ $ $ 17,102 $ 17,102 Buildings 34,197 35,063 34,197 35,063 Improvements other than buildings 8,033 8,195 8,033 8,195 Furniture, machinery and equipment 3,644 4,149 3,644 4,149 Infrastructure 23,823 23,991 7,127 7,424 30,950 31,415 Construction in progress 575 513 - - 575 513 Total $ 87,374 $ 89,013 $ 7,127 $ 7,424 $ 94,501 $ 96,437 Additional information can be found in Note 6 - Capital Assets. Debt Administration As of year -end, the City had $ 28.805 million in debt outstanding compared to the $ 30.045 million last year, a 4.1 % decrease. All debt is secured only by a covenant to budget and appropriate. 10 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 Defeasance of bonds - On June 15, 2012, the City issued $ 9,885,000 in Series 2012 Refunding Revenue Bonds with a rate of 2.18% to advance refund $ 10,165,000 (including a City contribution of $ 597,856) of the then outstanding Series 2002 Revenue Bonds. The gross proceeds of $ 10,482,856 were deposited in an irrevocable trust with an escrow agent to provide for the costs of issuance ($ 75,000) and debt service payments ($ 10,165,000 of principal and $ 242,856 of interest) on the call date of August 1, 2012. The reacquisition price exceeded the net carrying amount of the old debt by $ 380,930. The amount is being netted against the new debt and amortized over the life of the new debt issued. The City advance refunded the Series 2002 Revenue Bonds to reduce its total debt service payments over the next fifteen years by approximately $ 3,810,000 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt, net of City's contribution) of approximately $ 2,595,000. The debt position of the City is summarized below and is more fully explained in Note 7: Bonded Debt and Notes Payable (in thousands) Governmental Activities 2012 2011 Business -Type Activities 2012 2011 Total 2012 2011 Non -Ad Valorem bonds $ 28,805 S 30,045 $ - $ - $ 28,805 S 30,045 Economic Factors and Next Year's Budgets and Rates The State of Florida, by constitution, does not have a state personal income tax and therefore the State operates primarily using sales, gasoline and corporate income taxes. Local governments (cities, counties, school boards) primarily rely on property and a limited array of permitted other taxes (utility taxes, franchise fees and occupational licenses) as well as intergovernmental revenues for their governmental activities. For business -type activities and certain governmental activities (construction services and recreational programs), the user pays a related fee or charge associated with the service. The adopted operating and capital budget for fiscal year 2013 totals approximately $ 53.1 million, 4.3 % higher than the final operating and capital budget for fiscal year 2012. This was due primarily to the capital project expenditures including the proposed Government Center Parking Garage. Operating costs were limited to a 1.5% increase as compared to the previous year. The 2013 budget does not include any expansion or additional services. Lower costs associated with service delivery contracts and implementing various energy saving measures throughout the organization assisted greatly in reducing our overall costs. The City's "Go Green" efforts have been very beneficial in keeping our operating costs down. After three consecutive years of decline due to the economic recession, the City's taxable value has increased this year and overall property values are beginning to stabilize. This year the City experienced a 2.89% increase in property values. The new value of $7.501 Billion is still sharply down from the pre- recession value of $9.609 Billion. The Miami -Dade County Property Appraiser reported that coastal cities with a concentration of high -end properties experienced the most growth in property values. Cautiously, it appears we may have turned the corner toward recovery. Recently, we have witnessed positive signs that the local economy has shown some improvement. The number of building permits and applications for commercial and residential projects are on the upswing. Importantly, these new projects will produce jobs for the local economy. The new construction values rose moderately to $ 42.2 million. However, as we continue to observe, the recovery from this economic downturn is slower and longer than previous recoveries. All indications are that for the next several years we will experience slow growth in the South Florida economy. 11 CITY OF AVENTURA, FLORIDA MANAGEMENT'S DISCUSSION AND ANALYSIS September 30, 2012 In these economic times it is important that we continue to provide a high level of service to our residents, while preserving our long term financial viability. Although the local economy has made strides, we need to continue to remain prudent and conservative in our financial management of the City. Requests for Information This financial report is designed to provide our citizens, taxpayers, customers and investors and creditors with a general overview of the City's finances and to demonstrate the City's accountability. If you should have any questions pertaining to the information presented in this report or would like additional information, please contact the City's Finance Director at 19200 W. Country Club Drive, Aventura, Florida 33180. 12 CITY OF AVENTURA, FLORIDA STATEMENT OF NET ASSETS September 30, 2012 ASSETS: Cash, cash equivalents and investments Receivables, net of allowance for uncollectibles Due from other governments Prepaid expenses Inventories Bond issuance costs, net Net pension asset Restricted cash, cash equivalents and investments Capital assets: Nondepreciable Depreciable, net of accumulated depreciation Total assets LIABILITIES: Accounts payable Accrued liabilities Due to other governments Unearned revenues Accrued interest payable Due within one year: Compensated absences payable Bonds payable Due in more than one year: Compensated absences payable Bonds payable OPEB obligation Total liabilities NET ASSETS: Invested in capital assets, net of related debt Restricted for: Public safety Capital improvements Debt service Unrestricted Total net assets Governmental Business -Type Activities Activities $ 45,388,061 $ 687,761 1,261,226 36,859 26,945 154,918 205,783 500,657 17,676,898 69,697,423 135,636,531 1,299,305 173,903 7,126,772 Total $ 46,687,366 687,761 1,435,129 36,859 26,945 154,918 205,783 500,657 17,676,898 '7A 47n 1OG 8,599,980 144,236,511 1,381,596 44,165 1,425,761 1,290,906 - 1,290,906 2,149 - 2,149 672,160 - 672,160 45,094 - 45,094 631,568 - 631,568 1,590,000 - 1,590,000 1,894,704 - 1,894,704 26,607,449 - 26,607,449 204,000 - 204,000 34,319,626 44,165 34,363,791 59,176,872 7,126,772 66,303,644 1,146,329 - 1,146,329 819,090 - 819,090 274,594 - 274,594 39,900,020 1,429,043 41,329,063 $ 101,316,905 $ 8,555,815 $ 109,872,720 The accompanying notes to the financial statements are an integral part of these statements. 13 CITY OF AVENTURA, FLORIDA STATEMENT OF ACTIVITIES For the Year Ended September 30, 2012 FUNCTIONS /PROGRAMS: Governmental activities: General government Public safety Community services Interest and fiscal charges Total governmental activities Business -type activities: Stormwater utility Total Expenses $ 4,977,304 19,571,423 15,187,991 1,187,024 40,923,742 Program Revenues Operating Capital Charges for Grants and Grants and Services Contributions Contributions 5,413,866 1,621,334 7,035,200 $ 9,676 220,726 6,801,643 7,032,045 758,185 892,395 - $ 41,681,927 $ 7,927,595 $ 7,032,045 General revenue: Taxes: Ad valorem taxes Utility service taxes Franchise fees Intergovernmental, not restricted for specific purposes Interest income Impact fees Miscellaneous Total general revenues Change in net assets Net assets at beginning of year Net assets at end of year 676,604 676,604 $ 676,604 The accompanying notes to the financial statements are an integral part of these statements. 14 Net Revenue (Expense) and Chanize in Net Assets Governmental Business -Type Activities Activities Total $ (4,967,628) $ - $ (4,967,628) (13,936,831) - (13,936,831) (6,088,410) - (6,088,410) (1,187,024) - (1,187,024) (26,179,893) - (26,179,893) (26,179,893) 134,210 134,210 11,724,189 - 7,772,000 - 3,070,065 - 4,917,107 - 174,152 4,124 22,426 - 284,916 - 27,964, 855 4,124 1,784,962 138,334 99,531,943 8,417,481 $ 101,316,905 $ 8,555,815 134,210 (26,045,683) 11,724,189 7,772,000 3,070,065 4,917,107 178,276 22,426 284,916 27,968,979 1,923,296 107,949,424 $ 109,872,720 15 CITY OF AVENTURA, FLORIDA BALANCE SHEET - GOVERNMENTAL FUNDS September 30, 2012 The accompanying notes to financial statements are an integral part of these statements. 16 Debt Service Charter Street Fund Nonmajor Total General School Maintenance Series Governmental Governmental Fund Fund Fund 2000 Funds Funds ASSETS: Cash and cash equivalents and investments $ 40,412,854 $ 2,575,042 $ 767,186 $ 46,675 $ 1,586,304 $ 45,388,061 Restricted cash, cash equivalents and investments - - - 500,533 124 500,657 Accounts receivable, net 615,916 12,500 - - 59,345 687,761 Due from other governments 920,957 5,900 333,021 1,348 1,261,226 Inventories 26,945 - - - 26,945 Prepaid expenditures 6,100 30,759 - - - 36,859 Total assets $ 41,982,772 $ 2,624,201 $ 1,100,207 $ 547,208 $ 1,647,121 $ 47,901,509 LIABILITIES AND FUND BALANCES: Liabilities: Accounts payable $ 967,910 $ 176,677 $ 177,926 $ - $ 59,083 $ 1,381,596 Accrued liabilities 396,222 218,138 - 409,036 267,510 1,290,906 Due to other governments - 2,149 - - - 2,149 Deferred revenue 980,449 - 110,968 - 30,000 1,121,417 Total liabilities 2,344,581 396,964 288,894 409,036 356,593 3,796,068 Fund balances: Nonspendable: Inventories 26,945 - 26,945 Prepaid expenditures 6,100 30,759 - - 36,859 Restricted for: Capital improvements - - 811,313 7,777 819,090 Public safety - - 1,146,329 1,146,329 Debt service - 138,172 136,422 274,594 Committed to: Capital reserves 14,773,488 - - 14,773,488 Hurricane /emergency and disaster recovery operating reserves 5,000,000 - 5,000,000 Assigned to: Charter school operations - 2,196,478 2,196,478 Public safety /police communication radio system upgrades 1,560,000 - 1,560,000 Subsequent year's budget 4,187,436 4,187,436 Unassigned: General Fund 14,084,222 - - - - 14,084,222 Total fund balances 39,638,191 2,227,237 811,313 138,172 1,290,528 44,105,441 Total liabilities and fund balances $ 41,982,772 $ 2,624,201 $ 1,100,207 $ 547,208 $ 1,647,121 $ 47,901,509 The accompanying notes to financial statements are an integral part of these statements. 16 CITY OF AVENTURA, FLORIDA RECONCILIATION OF THE BALANCE SHEET OF GOVERNMENTAL FUNDS TO THE STATEMENT OF NET ASSETS September 30, 2012 Total Fund balances - governmental funds $ 44,105,441 Capital assets used in governmental activities are not financial resources and therefore, are not reported in the funds: The cost of capital assets is $ 125,308,078 Accumulated depreciation is (37,933,757) 87,374,321 Intergovernmental revenue is not available to pay for current period expenditures and, therefore, is deferred in the funds. 449,257 Net pension asset resulting from excess contributions to pension plans is not reported in the fund financial statements. 205,783 OPEB obligation resulting from deficiency of contributions to OPEB plans is not reported in the fund financial statements as it is not due and payable in the current period. (204,000) Other assets used in governmental activities are not financial resources and therefore are not reported in governmental funds: Deferred charge on bond issuance costs 154,918 Deferred loss on bond refunding 607,551 762,469 Long -term liabilities are not due and payable in the current period and, therefore, are not reported in the funds: Compensated absences (2,526,272) Bonds payable (28,805,000) Accrued interest payable (45,094) (31,376,366) Net assets of governmental activities $ 101,316,905 The accompanying notes to financial statements are an integral part of these statements. 17 CITY OF AVENTURA, FLORIDA STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES GOVERNMENTAL FUNDS For the Year Ended September 30, 2012 EXPENDITURES Current: General government 4,266,981 Debt - 4,266,981 Public safety 18,287,013 - - Service 126,312 18,413,325 Community services 4,732,985 Charter Street Fund Nonmajor Total Capital outlay General School Maintenance Series Governmental Governmental Debt service: Fund Fund Fund 2000 Funds Funds REVENUES: - - - 310,000 650,000 960,000 Ad valorem taxes $ 11,724,189 $ $ $ $ $ 11,724,189 Utility service taxes 7,486,791 - 198,072 789,231 7,486,791 Franchise fees 3,070,065 - 77,909 3,070,065 Intergovernmental 3,345,393 6,347,667 1,869,446 508,072 176,104 11,738,610 Licenses and permits 2,522,665 - - - 2,522,665 Charges for services 2,334,060 557,587 3,555,365 191,479 - 2,891,647 Fines and forfeitures 1,752,696 - - 706,580 2,459,276 Impact fees - - 20,830 1,596 22,426 Interest income 131,059 10,572 2,768 25,099 4,654 174,152 Miscellaneous 77,205 226,590 - - - 303,795 Total revenues 32,444,123 7,142,416 1,893,044 25,099 888,934 42,393,616 EXPENDITURES Current: General government 4,266,981 - 4,266,981 Public safety 18,287,013 - - 126,312 18,413,325 Community services 4,732,985 6,819,502 753,233 - 12,305,720 Capital outlay 1,601,779 131,435 775,307 - 541,735 3,050,256 Debt service: Principal - - - 310,000 650,000 960,000 Advance refunding escrow - 597,856 597,856 Interest - 198,072 789,231 987,303 Trustee fees and other - 77,909 77,909 Total expenditures 28,888,758 6,950,937 1,528,540 508,072 2,783,043 40,659,350 Excess (deficiency) of revenues over expenditures 3,555,365 191,479 364,504 (482,973) (1,894,109) 1,734,266 OTHER FINANCING SOURCES (USES): Issuance of debt - - - - 9,885,000 9,885,000 Transfers in 82,250 100,000 508,465 2,057,088 2,747,803 Transfers out (2,218,622) (446,931) - (82,250) (2,747,803) Payment to refunded bond escrow agent (9,810,000) (9,810,000) Total other financing sources (uses) (2,136,372) (346,931) - 508,465 2,049,838 75,000 Net change in fund balances 1,418,993 (155,452) 364,504 25,492 155,729 1,809,266 FUND BALANCES, beginning 38,219,198 2,382,689 446,809 112,680 1,134,799 42,296,175 FUND BALANCES, ending $ 39,638,191 $ 2,227,237 $ 811,313 $ 138,172 $ 1,290,528 $ 44,105,441 The accompanying notes to financial statements are an integral part of these statements. 18 CITY OF AVENTURA, FLORIDA RECONCILIATION OF THE STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS TO THE STATEMENT OF ACTIVITIES For the Year Ended September 30, 2012 Net change in fund balances - total governmental funds Amounts reported for governmental activities in the statement of activities are different because: Governmental funds report capital outlays as expenditures. However, in the statement of activities the cost of those assets is depreciated over their estimated useful lives and reported as depreciation expense. This is the amount by which depreciation exceeded capitalized capital outlays in the current period: Expenditures for capital assets Less current year's depreciation In the statement of activities, the loss on the disposal of assets is reported, whereas in the governmental funds, the proceeds from the sale increase financial resources. The change in net assets differs from the change in fund balance by: Cost of the assets disposed Related accumulated depreciation The issuance of long -term debt provides current financial resources to governmental funds: however, has no effect on net assets: Bond issue costs, net Issuance of debt Repayment of bond principal is an expenditure in the governmental funds, but the repayment reduces long -term liabilities in the statement of net assets. Some expenses reported in the statement of activities do not require the use of current financial resources and, therefore, are not reported as expenditures in governmental funds: Net pension obligation (asset) OPEB obligation Interest Deferred loss on refunding, net of amortization Amortization of bond issuance costs Compensated absences Receivables and deferred revenues in governmental funds are susceptible to full accrual on the government -wide statements Change in net assets of governmental activities $ 2,548,801 (4,172,316) (370,471) 355,332 (256,716) (9,885,000) (13,255) (14,000) 35,858 359,757 (17,855) (53,085) $ 1,809,266 (1,623,515) (15,139) (10,141,716) 11,125,000 297,420 333,646 $ 1,784,962 The accompanying notes to financial statements are an integral part of these statements. 19 CITY OF AVENTURA, FLORIDA STATEMENT OF NET ASSETS PROPRIETARY FUND September 30, 2012 Stormwater Utility Fund ASSETS: Current assets: Cash, cash equivalents and investments $ 1,299,305 Due from other governments 173,903 Total current assets 1,473,208 Noncurrent assets: Capital assets, net of accumulated depreciation 7,126,772 Total noncurrent assets 7,126,772 Total assets 8,599,980 LIABILITIES: Current liabilities: Accounts payable 44,165 Total liabilities 44,165 NET ASSETS: Invested in capital assets 7,126,772 Unrestricted 1,429,043 Total net assets $ 8,555,815 The accompanying notes to financial statements are an integral part of these statements. 20 CITY OF AVENTURA, FLORIDA STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS PROPRIETARY FUND For the Year Ended September 30, 2012 Stormwater Utility Fund OPERATING REVENUES: Charges for services $ 892,395 OPERATING EXPENSES: Cost of sales and services 460,862 Depreciation expense 297,323 Total operating expenses 758,185 Operating income 134,210 NONOPERATING REVENUES: Interest income 4,124 Change in net assets 138,334 NET ASSETS, beginning 8,417,481 NET ASSETS, ending $ 8,555,815 The accompanying notes to financial statements are an integral part of these statements. 21 CITY OF AVENTURA, FLORIDA STATEMENT OF CASH FLOWS PROPRIETARY FUND For the Year Ended September 30, 2012 CASH FLOWS FROM OPERATING ACTIVITIES: Cash received from customers, users and other $ 794,177 Cash paid to suppliers (461,054) Net cash provided by operating activities 333,123 CASH FLOWS PROVIDED BY INVESTING ACTIVITIES: Interest received 4,124 Net cash provided by investing activities 4,124 Net increase in cash, cash equivalents and investments 337,247 CASH, CASH EQUIVALENTS AND INVESTMENTS, beginning 962,058 CASH, CASH EQUIVALENTS AND INVESTMENTS, ending $ 1,299,305 RECONCILIATION OF OPERATING INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: Operating income $ 134,210 Adjustments to reconcile operating income to net cash provided by operating activities: Depreciation expense 297,323 Changes in assets and liabilities: Increase in due from other governments (98,218) Decrease in accounts payable (192) Total adjustments 198,913 Net cash provided by operating activities $ 333,123 The accompanying notes to financial statements are an integral part of these statements. 22 CITY OF AVENTURA, FLORIDA STATEMENT OF FIDUCIARY NET ASSETS POLICE OFFICERS' RETIREMENT PLAN FUND September 30, 2012 ASSETS: Investments, at fair value: Common stocks $ 12,656,232 U.S. Government securities 3,079,672 Corporate bonds 3,090,033 Money market funds 1,189,750 Receivables: Employer contributions 106,694 Employee contributions 18,906 Other receivables 3,864 Accrued interest 52,899 Total assets 20,198,050 LIABILITIES: Accounts payable 1,925 Total liabilities 1,925 Net assets held in trust for pension benefits $ 20,196,125 The accompanying notes to financial statements are an integral part of these statements. 23 CITY OF AVENTURA, FLORIDA STATEMENT OF CHANGES IN FIDUCIARY NET ASSETS POLICE OFFICERS' RETIREMENT PLAN FUND For the Year Ended September 30, 2012 ADDITIONS: Contributions: Employer $ 1,655,005 Employees 519,494 State of Florida, premium tax 268,692 Total contributions 2,443,191 Investment earnings: Net appreciation in fair value of investments 2,440,457 Interest and dividend income 399,374 Total investment income 2,839,831 Less investment expense 167,859 Net investment income 2,671,972 Total additions 5,115,163 DEDUCTIONS: Administrative expenses 34,609 Benefits paid 203,805 Total deductions 238,414 Change in net assets 4,876,749 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS, beginning 15,319,376 NET ASSETS HELD IN TRUST FOR PENSION BENEFITS, ending $ 20,196,125 The accompanying notes to financial statements are an integral part of these statements. 24 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The City of Aventura, Florida (the "City ") was incorporated on November 7, 1995, under the provisions of Chapter 63 -1675 Laws of Florida. The City operates under a commission - manager form of government and provides the following full range of municipal services as authorized by its charter: public safety, highways and streets, building, licensing and code compliance, culture and recreation, public works and stormwater management, public records and general administrative services. The Comprehensive Annual Financial Report (the "CAFR ") of the City includes all funds. The financial statements of the City have been prepared to conform with accounting principles generally accepted in the United States of America ( "GAAP ") as applicable to state and local governments. The Governmental Accounting Standards Board ( "GASB ") is the accepted standard - setting body for establishing governmental accounting and financial reporting principles. Significant accounting and reporting policies and practices used by the City are described below: A. Financial Reporting Entity Accounting principles generally accepted in the United States of America require that the reporting entity include: (1) the primary government, (2) organizations for which the primary government is financially accountable and (3) other organizations for which the nature and significance of their relationship with the primary government are such that exclusion would cause the reporting entity's financial statements to be misleading or incomplete. The criteria provided in Section 2100 of the Codification of Government Accounting and Financial Reporting Standards have been considered and there are no agencies or entities which should be presented with the City. B. Government Wide and Fund Financial Statements The basic financial statements include both government -wide (based on the City as a whole) and fund financial statements. The government -wide financial statements (i.e., the statement of net assets and the statement of activities) report information on all activities of the City. For the most part, the effect of interfund services provided and used has been eliminated from these statements. Governmental activities, which normally are supported by taxes and intergovernmental revenues, are reported separately from business -type activities, which rely to a significant extent on fees and charges for services. The government -wide statement of activities demonstrates the degree to which the direct expenses of a given function or segment is offset by program revenues. Direct expenses are those expenses that are clearly identifiable with a specific function or segment. Program revenues include: 1) charges to customers or applicants who purchase, use or directly benefit from goods, services or privileges provided by a given function or segment and 2) grants and contributions that are restricted to meeting the operation or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. The net cost (by function) is normally covered by general revenue (i.e., property taxes, sales taxes, franchise taxes, unrestricted intergovernmental revenues, interest income, etc.) 25 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Separate fund financial statements are provided for governmental funds, proprietary funds and fiduciary funds, even though the latter are excluded from the government -wide financial statements. The focus of fund financial statements is on major funds. Major individual governmental funds and the major individual enterprise fund are reported as separate columns in the fund financial statements. GASB Statement No. 34 sets forth minimum criteria (percentage of assets, liabilities, revenues or expenditures /expenses of either fund category for the governmental and enterprise, combined or funds that management deems of public importance) for the determination of major funds. The nonmajor funds are combined and presented in a single column in the fund financial statements. The government- wide -focus is more on the- sustainability of the City as an entity and the - change in aggregate financial position resulting from the activities of the fiscal period. The focus of the fund financial statements is on the major individual funds of the governmental and business- type categories, (by category). Each presentation provides valuable information that can be analyzed and compared to enhance the usefulness of the information. C. Measurement Focus, Basis of Accounting and Financial Statement Presentation The government -wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting, as are the proprietary and fiduciary fund financial statements. Revenues are recorded when earned and, expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property taxes are recognized as revenues in the year when an enforceable lien exists and when levied for. Grants and similar items are recognized as revenues as soon as all eligibility requirements imposed by the provider have been met. Governmental fund financial statements are reported using the current financial resources measurement focus and the modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available. Revenues are considered to be available when they are collectible within the current period or soon enough thereafter to pay liabilities of the current period. For this purpose, the government considers revenues to be available if they are collected within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred, as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated absences, pension, other postemployment benefits and claims and judgments, are recorded only when due. Property taxes when levied for, franchise fees, utility taxes, charges for services, impact fees, intergovernmental revenues when eligibility requirements are met and interest associated with the current fiscal period are all considered to be measurable and have been recognized as revenues of the current fiscal period, if available. All other revenue items such as fines and forfeitures and licenses and permits are considered to be measurable and available when cash is received by the City. Proprietary fund -type operating statements present increases (e.g., revenues) and decreases (e.g., expenses) in net total assets. Proprietary funds distinguish operating revenues and expenses from non - operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with a proprietary fund's principal ongoing operations. The principal operating revenues of the proprietary fund are charges to customers for sales and services. Operating expenses for proprietary funds include the costs of sales and services, administrative expenses and depreciation on capital assets. All revenues and expenses that do not meet this definition are reported as non - operating revenues or expenses. 26 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) The City reports the following major governmental funds: General Fund - This fund is the principal operating fund of the City. All general tax revenues and other receipts that are not allocated by law or contractual agreement to another fund are accounted for in this fund. Charter School Fund - This fund is used to account for revenues and expenditures from the operations of the Aventura City of Excellence School, a special revenue fund of the City. Street Maintenance Fund - This fund is used to account for revenues and expenditures, which by State Statue are designated for street maintenance and construction costs. Debt Service Fund Series 2000 - is used to account for the payment of principal, interest and other expenditures associated with the Series 2000 Revenue Bonds. The City reports the following major proprietary fund: Stormwater Utility Fund - This fund accounts for the operation of the City's stormwater system. Additionally, the government reports the following fiduciary fund type: Police Officers' Retirement Plan Fund - This fund accounts for the activities of the Police Officers' Retirement Plan that accumulates resources for pension benefits to qualifying police officers. The private- sector standards of accounting and financial reporting issued prior to December 1, 1989, generally are followed in both the government -wide and proprietary fund financial statements to the extent that those standards do not conflict with or contradict guidance of the GASB. Governments also have the option of following subsequent private- sector guidance for their business -type and enterprise funds, subject to the same limitation. The government has elected not to follow subsequent private - sector guidance. As a general rule, the effect of interfund activity has been eliminated from the government - wide financial statements. Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services or privileges provided and fines and forfeitures, 2) operating grants and contributions and 3) capital grants and contributions. Internally dedicated resources are reported as general revenues rather than as program revenues. Likewise, general revenues include all taxes. The City uses restricted amounts to be spent first when both restricted and unrestricted fund balance is available unless there are legal documents /contracts that prohibit doing this, such as in grant agreements requiring dollar for dollar spending. Additionally, the City would first use committed fund balance, followed by assigned fund balance and then unassigned fund balance when expenditures are incurred for purposes for which amounts in any of the unrestricted fund balance classifications could be used. 27 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Cash, cash equivalents and investments - Cash and cash equivalents are defined as demand deposits, money market accounts and other short-term investments with original maturities of three months or less from the date of acquisition. The City maintains a pooled cash account for all funds. This enables the City to invest large amounts of idle cash for short periods of time and to optimize earnings potential. Cash and cash equivalents represents the amount owned by each City fund. Resources of all funds, with the exception of the pension fund, are also combined into investment pools for the purpose of maximizing investment yields. Interest earned on pooled cash and investments is allocated monthly based on cash balances of the respective funds. The City's investments are reported at their fair value based on quoted market prices as reported by recognized security exchanges except for the Guaranteed Investment Contract which is recorded at cost and the City's investment in the Florida PRIME which is recorded at the amortized cost method. The pension plan's investments in common stocks, corporate bonds and U.S. government securities are reported at fair value based on quoted market price. Investments in money market funds are valued at amortized cost. 2. Receivables and payables - Transactions between funds that are representative of an outstanding lending /borrowing arrangement at the end of the year are referred to as either "interfund receivables / payables." Any residual outstanding balances between the governmental activities and business -type activities at year -end are reported in the government -wide financial statements as internal balances. 3. Prepaid expenses /expenditures - Certain payments to vendors reflect costs applicable to a future accounting period and are recorded as prepaid items in both government -wide and fund financial statements. 4. Inventories - Inventories are valued at the lower of cost (first -in, first -out) or market. These amounts are reported as nonspendable in governmental fund financial statements. Inventory is accounted for using the consumption method whereby inventories are recorded as expenditures when they are used. 5. Capital assets - Capital assets purchased or acquired with an original cost of $ 5,000 or more are reported at historical cost or estimated historical cost. Contributed assets are reported at fair value as of the date received. Additions, improvements and other capital outlays that significantly extend the useful life of an asset are capitalized. Other costs incurred for repairs and maintenance are expensed as incurred. Depreciation on all assets is provided on the straight -line basis over the following estimated useful lives: Buildings 25 Improvements other than buildings 20-30 Infrastructure 20-40 Furniture, machinery and equipment 3 -20 Within governmental funds (government -wide level), amounts incurred for the acquisition of capital assets are reported as fund expenditures. Depreciation expense is not reported within the governmental fund financial statements. 28 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 6. Unearned /deferred revenue - Unearned revenues at the government -wide level, governinental and business-type activities, are reported when the City receives resources before it has earned the revenues. Furthermore, governmental funds report deferred revenue in connection with receivables for revenues that are not considered to be available to liquidate liabilities of the current period. 7. Compensated absences payable - The City's sick leave policy permits employees to accumulate earned but unused sick pay benefits. Upon termination, sick pay is paid out, between 0 - 100% based on length of service. The City's vacation policy is that earned vacation is cumulative although limited to certain maximums based on length of service. Accumulated compensated absences are recorded in the government -wide and proprietary fund financial statements when earned. Expenditures for accumulated compensated absences have been recorded in the governmental funds only if they have matured, (e.g., resulting from employee resignations and retirements). Payments are generally paid out of the General Fund. Long-term obligations - In the government -wide financial statements and proprietary fund types in the n mancial statements, long -term debt and other long -term obligations are reported as liabilities in the applicable governmental activities, business -type activities or proprietary fund type statement of net assets. Bond premiums, discounts and issuance costs are deferred and amortized over the life of the bonds using the straight line method, which approximates the effective interest method. Bonds payable are reported net of the applicable premiums and discounts. For bond refundings resulting in the defeasance of debt reported in the government -wide financial statements and proprietary fund types in the fund financial statements, the difference between the reacquisition price and the net carrying amount of the old debt is deferred and amortized as a component of interest expense. The accounting gain or loss is amortized over the remaining life of the old debt or the life of the new debt, whichever is shorter, and is presented as an addition to or reduction of the face amount of the new debt. In the fund financial statements, governmental fund types recognize bond premiums and discounts, as well as bond issue costs in the year of issuance. Bond proceeds at face value and premiums are reported as other financing source. Bond discounts are reported as other financing use. Issuance costs, even if withheld from the actual net proceeds received, and bond principal payments are reported as debt service expenditures. 9. Equity classifications Government -Wide and Proprietary Fund Statements: Equity is classified as net assets and displayed in three components: a. Invested in capital assets, net of related debt - consists of capital assets, net of accumulated epreciation and reduced y the outstanding balances of any bonds, notes or other borrowings that are attributable to the acquisition, construction or improvements of those assets. b. Restricted net assets - consists of net assets with constraints placed on the use either y: external groups such as creditors, grantors, contributors or laws or regulations of other governments, or 2) law through constitutional provisions or enabling legislation. C. Unrestricted net assets - all other net assets that do not meet the definition of "restricted" or invested in capital assets, net of related debt. " 29 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Fund Equity: The City follows GASB Statement No. 54, Fund Balance Reporting and Governmental Fund Type Definitions which requires that governmental fund financial statements present fund balances based on classifications that comprise a hierarchy that is based primarily on the extent to which the City is bound to honor constraints on the specific purposes for which amounts in the respective governmental funds can be spent. The classifications used in the governmental fund financial statements are as follows: Nons endable: This classification includes amounts that cannot be spent because they are either (a) not in spendable form or (b) are legally or contractually required to be maintained intact. "Not in spendable form" includes items that are not expected to be converted to cash (such as inventories and prepaid amounts) and items such as long -term amount of loans and notes receivable, as well as property acquired for resale. The corpus (or principal) of a permanent fund is an example of an amount that is legally or contractually required to be maintained intact. In fiscal year 2012, this represents $ 63,804. Restricted: This classification includes amounts for which constraints have been p ac�the use of the resources either (a) externally imposed by creditors (such as through a debt covenant), grantors, contributors, or laws or regulations of other governments, or (b) imposed by law through constitutional provisions or enabling legislation. In fiscal year 2012, this represents $ 2,240,013. Committed: This classification includes amounts that can be used only for the specific purposes determined by a formal action of the government's highest level of decision making. The City Commission is the highest level of decision- making authority for the government that can, by adoption of an ordinance prior to the end of the fiscal year, commit fund balance. Once adopted, the limitation imposed by the ordinance remains in place until a similar action is taken (the adoption of another ordinance) to remove or revise the limitation. Resources accumulated pursuant to stabilization arrangements are reported in this category. In fiscal year 2012, this represents $ 19,773,488. Ass igned: This classification includes amounts that are constrained by the City's intent to be used for a specific purpose but are neither restricted nor committed. The City Commission has by resolution authorized the City Manager to assign fund balance. The City Commission may also assign fund balance as it does when appropriating fund balance to cover a gap between estimated revenue and appropriations in the subsequent year's budget. Unlike commitments, assignments generally can only exist temporarily. In other words, an additional action does not normally have to be taken for the removal of an assignment. Conversely, as discussed above, an additional action is essential to either remove or revise a commitment. In fiscal year 2012, this represents $ 7,943,914. In the general fund, assigned fund balance for subsequent year's budget is comprised of $ 3,942,564 and $ 244,872 representing the appropriation of a portion of existing fund balance in the 2012 budget and outstanding encumbrances, respectively. Unassigned: This classification includes the residual fund balance for the General Fund. This classification represents fund balance that has not been assigned to other funds and that has not been restricted, committed, or assigned to specific purposes within the General Fund. Unassigned fund balance may also include negative balances for any governmental fund if expenditures exceed amounts restricted, committed or assigned for those specific purposes. In fiscal year 2012, this represents $ 14,084,022. 30 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) 10. Minimum Fund Balance Policy and Hurricane /Emergency and Disaster Recovery Reserve - The City's policy is to maintain an adequate General Fund balance to meet seasonal shortfalls in cash flow and reduce susceptibility to emergency and unanticipated expenditures and /or revenue shortfalls. The City's Commission has adopted a financial standard to maintain. a Hurricane /Emergency and Disaster Recovery's Operating Reserve at a minimum level of $ 5,000,000 and a Fiscal Stability Reserve of 10% of the annual General Fund revenue. 11. Encumbrances - Encumbrance accounting, under which purchase orders, contracts and other commitments for the expenditure of funds are recorded in order to reserve that portion of the applicable appropriation, is employed as an extension of formal budgetary integration. Encumbrances are recorded at the time a purchase order or other commitment is entered into. Encumbrances outstanding at year -end represent the estimated amount of expenditures which would result if unperformed purchase orders and other commitments at year -end are completed. Encumbrances lapse at year -end; however, the City generally intends to honor purchase orders and other commitments in process. As a result, encumbrances outstanding at year -end are re- appropriated in the next fiscal year and are therefore presented as committed or assigned fund balance for the subsequent year. 12. Use of estimates - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Accordingly, actual results could differ from those estimates. 13. Date of management review - Subsequent events were evaluated by management through February 19, 2013, which is the date the financial statements were available to be issued. NOTE 2 - PROPERTY TAXES Property taxes are assessed as of January 1 each year and are first billed (levied) and due the following November 1. Under Florida law, the assessment of all properties and the collection of all county, municipal, school board and special district property taxes are consolidated in the Offices of the County Property Appraiser and County Tax Collector. The laws for the State regulating tax assessments are also designed to assure a consistent property valuation method statewide. State statutes permit municipalities to levy property taxes at a rate of up to 10 mills ($ 10 per $ 1,000 of assessed taxable valuation). The millage rate assessed by the City for the year ended September 30, 2012 was 1.7261 mills. The City's tax levy is established by the City Commission prior to October 1 of each year, and the County Property Appraiser incorporates the millage into the total tax levy, which includes Miami -Dade County, Miami -Dade County School Board and certain other special taxing districts. All property is reassessed according to its fair market value as of January 1 each year. Each assessment roll is submitted to the Executive Director of the Florida Department of Revenue for review to determine if the assessment rolls meet all of the appropriate requirements of State Statutes. 31 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 2 - PROPERTY TAXES (continued) All real and tangible personal property taxes are due and payable on November 1 each year or as soon as practicable thereafter as the assessment roll is certified by the County Property Appraiser. Miami -Dade County mails each property owner on the assessment roll a notice of the taxes due and collects the taxes for the City. Taxes may be paid upon receipt of the notice from Miami -Dade County, with discounts at the rate of 4 % if paid in the month of November, 3 % if paid in the month of December, 2 % if paid in the month of January and 1 % if paid in the month of February. Taxes paid during the month of March are without discount, and all unpaid taxes on real and tangible personal property become delinquent and liens are placed on April 1 of the year following the year in which the taxes were assessed. Procedures for the collection of delinquent taxes by Miami -Dade County are provided for in the laws of Florida. There were no material delinquent property taxes as of September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS Deposits: The City's custodial credit risk policy is in accordance with Florida Statutes. Florida Statutes authorize the deposit of City funds in demand deposits or time deposits of financial institutions approved by the State Treasurer. These are defined as public deposits. All City public deposits are held in qualified public depositories pursuant to Chapter 280, Florida Statutes, "Florida Security for Public Deposits Act. " Under the act, all qualified public depositories are required to pledge eligible collateral having a market value equal to or greater than the average daily or monthly balance of all public deposits times the depository's collateral pledging level. The collateral pledging level may range from 50 % to 125 % depending upon the depository's financial condition and the length of time that the depository has been established. All collateral must be deposited with the State Treasurer. Any losses to public depositors resulting from insolvency are covered by applicable deposit insurance, sale of securities pledged as collateral and, if necessary, assessment against other qualified public depositories of the same type as the depository in default. The City's bank balances were insured either by the federal depository insurance corporation or collateralized in the bank's participation in the Florida Security for Public Deposits Act. The Florida SBA Pool is not a registrant with the Securities and Exchange Commission ( "SEC "); however, its board has adopted operating procedures consistent with the requirements for a 2a -7 fund. The SBA investments are allocated among two funds, Fund A and Fund B (hereinafter referred to as "Florida PRIME" and "LGIP -B "). For the Florida PRIME, a 20-like pool, the value of the City's position is the same as the value of the pool shares and is recorded at amortized cost. At September 30, 2012, the City's investment in the Florida PRIME was that of $ 17,231,105. In accordance with these requirements, the method used to determine the participants' shares sold and redeemed is the amortized cost method. The amortized cost method is the same method used to report investments. Amortized cost includes accrued income and is a method of calculating an investment's value by adjusting its acquisition cost for the amortization of discount or premium over the period from purchase to maturity. Thus, the City's account balance in the SBA is its amortized cost. The LGIP -B pool is accounted for as a fluctuating net asset value "NAV." The balance of the City's investment in LGIP -B at year end amounted to $ 87,412, with a net asset value factor of 0.94896811. The SBA is governed by Chapter 19 -7 of the Florida Administrative Code. These rules provide guidance and establish the general operating procedures for the administration of the SBA. Additionally, the Office of the Auditor General of the State of Florida performs the operational audit of the activities and investment of the SBA. The SBA accounts are not subject to custodial credit risk as these investments are not evidenced by securities that exist in physical or bank entry form. 32 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS (continued) Investments: On June 2, 2009 and on November 1, 2011, the City adopted and re- adopted, respectively, Chapter 6.6 of the Administrative Policy and Directives and Procedures Manual, entitled "Investments Objective and Parameters," as the City's Investment Policy for the management of Public Funds ( "the policy "). The policy was created in accordance with Section 218.415, Florida Statutes. The policy applies to all investments held and controlled by the City, with the exception of the Police Officers' Pension Plan and its debt issuance where there are other existing policies or indentures in effect for the investment of related funds. The City's policy for investments other than pension plan and debt issuance is summarized herein. The Finance Director has responsibility for the type of investments the City makes. The investment policy establishes permitted investments, asset allocation, issuer limits, credit rating requirements and maturity limits to protect the City's assets. All investment securities are held by a Trust custodian, and are managed by financial advisors. In general, the City's policy allows to invest, in the following: (1) securities and obligations of the United States and its agencies; (2) nonnegotiable interest bearing time deposits or savings accounts provided that such deposits are secured by collateral as prescribed by the Florida Security for Public Deposits Act, Chapter 280, Florida Statutes; (3) repurchase agreements collateralized by full or general faith and credit obligations of the U. S. Government or Agency securities; (4) the Florida Local Government Surplus Funds Trust Fund "SBA "; (5) intergovernmental investment pools authorized pursuant to the Florida Interlocal Cooperation Act, provided by Section 163.01, Florida Statutes, and provided that such funds contain no derivatives; (6) money market mutual funds - registered investment companies with the highest credit quality rating; (7) commercial paper of any U.S. company; (8) corporate notes; and (9) taxable /tax - exempt municipal bonds. The City policy for pension investments is under the oversight of the Plan's Board of Trustees (the "Board "). The Board contracts with investment advisory firms and approves any new investment vehicles presented by the consultants. The Board follows all applicable state statutes. The City has a Guaranteed Investment Contract ( "GIC ") that is not subject to interest rate risk classification because it is a direct contractual investment and is not a security. The GIC also is not rated for credit risk classification purposes. The GIC provides for a guaranteed return on investments over a specific period of time at a rate of 5.04% per annum. The collateral value of the GIC as of September 30, 2012 is $ 525,205 and is expected to continue to be sufficient to meet the reserve fund requirement for the Series 2000A Revenue Note of a minimum of $ 500,000. The GIC is recorded at the contract amount which is $ 500,657. 33 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS (continued) As of September 30, 2012, the City's cash, cash equivalents and investments consisted of the following: Cash and cash equivalents and investments: $ 46,687,366 State Board of Administration - 500,657 SBA, Florida PRIME $ 17,231,105 Deposits with financial institutions 13,748,308 U.S. Government obligations 6,050,354 U.S. Treasury bills 5,339,664 Municipal obligations 1,218,924 Corporate bonds 1,164,332 Asset backed securities 813,185 Guarenteed investment contract 500,657 Commercial paper 499,531 Collateralized mortgage obligations 324,303 Motgage- backed securitires 113,322 Money market funds 94,471 State Board of Administation -Fund B 87,412 Petty Cash 2,455 47,188,023 Fiduciary fund investments: Common stocks 12,656,232 Corporate bonds 3,090,033 U.S. Government securities 3,079,672 Money market funds 1,189,750 20,015,687 $ 67,203,710 Cash, cash equivalents and investments are classified in the accompanying financial statements as follows: Statement of Net Assets: Cash, cash equivalents and investments $ 46,687,366 Restricted cash, cash equivalents and investments 500,657 47,188,023 Statement of Fiduciary Net Assets: Common stocks 12,656,232 Corporate bonds 3,090,033 U.S. Government securities 3,079,672 Money market funds 1,189,750 20,015,687 $ 67,203,710 34 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS (continued) Interest rate risk — The City's policy is to limit its exposure to fair value losses arising from changes in interest rates by structuring the investment portfolio so that securities mature to meet cash requirements for ongoing operations, thereby avoiding the need to sell securities on the open market prior to maturity, and investing operating funds primarily in shorter -term securities, money market mutual funds or similar investment pools. This is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The City's policy is that unless matched with specific cash flow, the City will not directly invest in securities maturing more than seven (7) years from the date of purchase. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds to ensure that proper liquidity is maintained to meet ongoing obligations. The City does not have a formal investment policy for its pension funds that limits investment maturities as a means of managing its exposure to fair value losses arising from increasing interest rates. Information about the exposure of the City's debt -type investments to this risk using the segmented time distribution model is as follows: Time to Maturity (in Years) Greater Summary of Investments Fair Less Than 1 -5 6 -10 Than and Interest Rate Risk Value 1 Year Years Years 10 Years City Investments: State Board of Administration - SBA, Florida PRIME $ 17,231,105 $ 17,231,105 $ - $ $ - U.S. Government obligations 6,050,354 2,082,402 3,967,952 - - U.S. Treasury bills 5,339,664 1,291,201 4,048,463 - Municipal obligations 1,218,924 200,543 1,018,381 - Corporate bonds 1,164,332 566,756 597,576 - - Asset backed securities 813,185 - 813,185 - - Commercial paper 499,531 499,531 - - - Collateralized mortgage obligations 324,303 - 206,173 118,130 Mortgage- backed securities 113,322 - 113,322 - - Money market funds 94,471 94,471 - - - State Board Administration - SBA, Fund B 87,412 - - 87,412 - Subtotal - City Investments 32,936,603 21,966,009 10,765,052 205,542 - Fiduciary Fund: Corporate bonds 3,090,033 285,840 1,888,838 915,355 - U.S. Government securities 3,079,672 985,551 1,784,342 309,779 - Money market funds 1,189,750 1,189,750 - - - Subtotal - Fiduciary Fund 7,359,455 2,461,141 3,673,180 1,225,134 - Total investments $ 40,296,058 $ 24,427,150 $ 14,438,232 $ 1,430,676 $ - 35 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS (continued) Credit Risk - Generally, credit risk is the risk that an issuer of a debt -type investment will not fulfill its obligation to the holder of the investment. This is measured by assignment of a rating by a nationally - recognized rating organization. The City's investment policy provides strict guidelines and limits investments to highly rated securities with minimum ratings of AAA /Aaa (long term securities), A -1 /P -1 (short term securities), and AAAm (money market mutual funds). The Finance Director shall determine the appropriate action for any investment held that is downgraded below the minimum rating by one or more rating agencies. The pension fund limits its credit risk by limiting its fixed income investments to securities with the top (4) ratings issued by nationally recognized statistical rating organizations. U.S. government securities or obligations explicitly guaranteed by the U.S. government are not considered to have credit risk exposure. Investments in the LGIP -B, certain money market funds, certain U.S. government obligations and certain corporate bonds are not rated. The City's and fiduciary fund's portfolio is rated by Standard & Poor's and Moody's Investor Services, respectively, as follows: Rating City Investments: AAA AAAm AA + AA AA- A+ A -1 + A -1 Not Rated Fiduciary Fund: Al A2 A3 AA2 AA3 Not rated Fair Value $ 1,528,823 17,325,576 12,151,606 642,348 181,416 103,072 513,827 199,699 290,236 32,936,603 930,003 1,116,957 438,484 62,189 542,400 4,269,422 7,359,455 $ 40,296,058 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 3 - DEPOSITS AND INVESTMENTS (continued) Concentration - The City's policy is to maintain a diversified portfolio to minimize the risk of loss resulting from concentration of assets in a specific issuer. Specific limits have been established which limit the percentage of portfolio assets that can be invested with a specific issuer. GASB Statement No. 40, Deposit and Investment Risk Disclosures, requires disclosure when the percentage is 5 % or more in any one issuer. Investments issued or explicitly guaranteed by the U.S. government and investments in mutual funds external investments pools, or other pooled investments are excluded from this requirement. At September 30, 2012 the City had investments in the Federal National Mortgage Association (Fannie Mae) amounting to 6.15 % of the total investments held by the City. The pension fund limits investments that may be invested in any one issuer to no more than 5% of plan net assets, other than those issued by the U.S. Government or its Agencies. More than 5% of the Fund's plan net assets are invested in debt securities issued by the U. S. Treasury. The U. S. Treasury investments represented 11.69% of Plan Net Assets. Given the restriction to the highest rating, this concentration is not viewed to be an additional risk to the City. Custodial credit risk - For an investment, custodial credit risk is the risk that, in the event of the failure of the counterparty (e.g., broker - dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The City's investment policy requires securities, with the exception of certificates of deposit, to be registered in the City's name and held with a third party custodian. Foreign credit risk - For an investment, foreign credit risk is the risk that fluctuations in currency exchange rates may affect transactions conducted in currencies other than U.S. dollars and the carrying value of foreign investments. The City is not exposed to foreign credit risk. The pension fund's exposure to foreign credit risk derives mainly from its investments in international equity securities which amounted to $ 2,759,188 in U.S. dollars. The pension fund's investment policy limits the foreign investments to no more than 25% of the pension fund's investment balance. As of the year end, the foreign investments were 13.78% of total investments. The investments by currency type are as follows: Currencv Fair Value Australia 99,971 Canada 319,906 France 219,935 Germany 99,971 Japan 279,918 Netherlands 359,894 United Kingdom 499,853 Switzerland 139,959 Other 739,781 Total $ 2,759,188 37 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 4 - RECEIVABLES Receivables as of September 30, 2012 consist of the following: Charter Nonmajor General School Govermental Fund Fund Funds Total Governmental funds: Utility service taxes $ 436,252 $ - $ - $ 436,252 Police services 96,688 - 59,345 156,033 Vendors 47,051 12,500 - 59,551 Franchise fees 35,925 - - 35,925 Total governmental funds $ 615,916 $ 12,500 $ 59,345 $ 687,761 NOTE 5 - INTERFUND TRANSFERS Interfund transfers during the year ended September 30, 2012 were as follows: Transfers Transfers In not General Fund $ 82,250 $ 2,218,622 Charter School Fund 100,000 446,931 Debt Service Fund Series 2000 508,465 - Other nonmajor governmental funds 2,057,088 82,250 $ 2,747,803 $ 2,747,803 Transfers are used to: (1) move revenues from the fund that statute or budget requires to collect them, to the fund that statute or budget requires to expend them from or (2) use of unrestricted revenues collected in the General Fund to finance various programs accounted for in other funds in accordance with budgetary authorizations. Transfers to the General Fund represent reimbursement of cost from the 911 Fund of $ 82,250. The transfer to the Charter School Fund consists of $ 100,000 from the General Fund which is being used to support future capital projects occurring in the Charter School Special Revenue Fund. The remaining transfers represent transfers to meet debt service requirements in the Debt Service Funds. CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 6 - CAPITAL ASSETS Capital assets activity for the year ended September 30, 2012 was as follows: Balance Retirements Balance October 1, and September 30, 2011 Additions Transfers 2012 Governmental activities: Capital assets, not being depreciated: Land $ 17,102,344 $ - $ - $ 17,102,344 Construction in progress 513,337 574,554 (513,337) 574,554 Total capital assets, not being depreciated 17,615,681 574,554 (513,337) 17,676,898 Capital assets, being depreciated: Buildings 43,822,365 417,573 - 44,239,938 Improvements other than buildings 10,976,633 261,202 (4,036) 11,233,799 Infrastructure 36,703,862 1,217,005 - 37,920,867 Furniture, machinery and equipment 14,011,207 591,804 (366,435) 14,236,576 Total capital assets, being depreciated 105,514,067 2,487,584 (370,471) 107,631,180 Less accumulated depreciation for: Buildings 8,759,315 1,283,074 - 10,042,389 Improvements other than buildings 2,781,704 420,441 (1,170) 3,200,975 Infrastructure 12,713,424 1,384,793 - 14,098,217 Furniture, machinery and equipment 9,862,330 1,084,008 (354,162) 10,592,176 Total accumulated depreciation 34,116,773 4,172,316 (355,332) 37,933,757 Total capital assets, being depreciated, net 71,397,294 (1,684,732) (15,139) 69,697,423 Governmental activities capital assets, net $ 89,012,975 $ (1,110,178) $ (528,476) $ 87,374,321 Business -type activities: Capital assets, being depreciated: Infrastructure $ 9,658,576 $ - $ - $ 9,658,576 Less accumulated depreciation 2,234,481 297,323 - 2,531,804 Total capital assets, being depreciated, net 7,424,095 (297,323) - 7,126,772 Business -type activities capital assets, net $ 7,424,095 $ (297,323) $ - $ 7,126,772 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 6 - CAPITAL ASSETS (continued) Depreciation expense was charged to functions /programs of the primary government as follows: Governmental activities: General government Public safety Community services Business -type activities: Stormwater utility $ 500,084 713,800 2,958,432 $ 4,172, 316 $ 297,323 NOTE 7 - LONG -TERM LIABILITIES OF GOVERNMENTAL ACTIVITIES Changes in Governmental Activities long -term liabilities during the year ended September 30, 2012 were as follows: Balance Balance October 1, September 30, Due Within 2011 Additions Reductions 2012 One Year Series 2000 Revenue Bonds payable $ 3,930,000 $ $ (310,000) $ 3,620,000 $ 325,000 Series 2002 Revenue Bonds payable 10,165,000 - (10,165,000) - - Series 2010 Refunding Revenue Bonds payable 10,385,000 (430,000) 9,955,000 445,000 Series 2011 Refunding Revenue Bonds payable 5,565,000 (220,000) 5,345,000 230,000 Series 2012 Refunding Revenue Bonds payable - 9,885,000 - 9,885,000 590,000 Compensated absences payable 2,473,187 1,226,733 (1,173,648) 2,526,272 631,568 Other post - employment benefits 190,000 14,000 - 204,000 - Deferred loss on early retirement of Revenue Bonds payable of Series 1999 and 2002 (247,794) (380,930) 21,173 (607,551) - $ 32,460,393 $ 10,744,803 $ (12,277,475) $ 30,927,721 $ 2,221,568 Revenue bonds as of September 30, 2012 were comprised of the following: Series 2000 Revenue Bonds, principal is due annually over 20 years in various amounts through October 2020. The bonds bear interest at 5.04% and are payable semi - annually on October 1 and April 1 of each year. The bonds are collateralized by available Non -Ad Valorem revenues. $ 3,620,000 40 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 7 - LONG -TERM LIABILITIES OF GOVERNMENTAL ACTIVITIES (continued) Series 2010 Refunding Revenue Bonds, principal is due annually over 18 years in various amounts through April 2029. The bonds bear interest at 3.42% and are payable semi - annually on October 1 and April 1 of each year. The bonds are collateralized by available Non -Ad Valorem revenues. 9,955,000 Series 2011 Refunding Revenue Bonds, principal is due annually over 18 years in various amounts through April 2029. The bonds bear interest at 3.64% and are payable semi - annually on October 1 and April 1 of each year. The bonds are collateralized by available Non -Ad Valorem revenues. 5,345,000 Series 2012 Refunding Revenue Bonds, principal is due annually over 15 years in various amounts through August 2027. The bonds bear interest at 2.18% and are payable semi - annually on February 1 and August 1 of each year. The bonds are collateralized by available Non -Ad Valorem revenues. 9,885,000 $ 28,805,000 Compensated absences attributable to governmental activities are generally liquidated by the General Fund. Series 2000 Revenue Bonds The City previously issued $ 6,555,000 in Series 2000 Revenue Bonds to finance the acquisition of land for parks and recreational purposes and for the construction of a community recreation center. The bond indenture relating to this issue requires that a reserve fund of $ 500,000 be established, the balance of which as of September 30, 2012 was sufficient to meet this requirement. The indenture also requires the maintenance of a minimum debt service coverage ratio of 2.50:1.00. Series 2002 and Series 2012 (refunding) Revenue Bonds The City previously entered into a bond indenture agreement with the Florida Intergovernmental Finance Commission through an interlocal governmental agreement. As a result, the City issued $ 12,610,000 in Series 2002 Revenue Bonds to finance the acquisition of land and construction of a charter school as well as the construction of the community recreation center. Defeasance of bonds - On June 15, 2012, the City issued $ 9,885,000 in Series 2012 Refunding Revenue Bonds with a rate of 2.18% to advance refund $ 10,165,000 (including a City contribution of $ 597,856) of the then outstanding Series 2002 Revenue Bonds. The gross proceeds of $ 10,482,856 were deposited in an irrevocable trust with an escrow agent to provide for the costs of issuance ($ 75,000) and debt service payments ($ 10,165,000 of principal and $ 242,856 of interest) on the call date of August 1, 2012. 41 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 7 - LONG -TERM LIABILITIES OF GOVERNMENTAL ACTIVITIES (continued) The reacquisition price exceeded the net carrying amount of the old debt by $ 380,930. The amount is being netted against the new debt and amortized over the life of the new debt issued. The City advance refunded the Series 2002 Revenue Bonds to reduce its total debt service payments over the next fifteen years by approximately $ 3,810,000 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt, net of City's contribution) of approximately $ 2,595,000. Series 2010 and 2011 Refunding Revenue Bonds The City previously issued $ 21,000,000 in Series 1999 Revenue Bonds to finance the acquisition of land, buildings and other improvements related to municipal parks and the City's administrative complex and police station. At September 30, 2012, this bond series was fully defeased. In fiscal year 2010, the City issued Series 2010 Refunding Revenue Bonds to partially advance refund $ 10,580,000 of the then outstanding Series 1999 Revenue Bonds. The City partially advance refunded the Series 1999 Revenue bonds to reduce its total debt service payments by approximately $ 2,081,000 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt, net of City's contribution) of approximately $ 1,110,200. In fiscal year 2011, the City issued Series 2011 Refunding Revenue Bonds to advance refund the remaining $ 5,700,000 of the then outstanding Series 1999 Revenue Bonds. The City advance refunded the Series 1999 Revenue bonds to reduce its total debt service payments by approximately $ 1,085,000 and to obtain an economic gain (difference between the present values of the debt service payments on the old and new debt, net of City's contribution) of approximately $ 530, 000. The call date of these refunding transactions was on April 1, 2011. The annual debt service requirements to maturity for the revenue bonds are approximately as follows: Year Ending September 30, Principal Interest Total 2013 $ 1,590,000 $ 948,700 $ 2,538,700 2014 1,675,000 868,000 2,543,000 2015 1,735,000 811,900 2,546,900 2016 1,790,000 753,900 2,543,900 2017 1,850,000 693,700 2,543,700 2018 -2022 9,255,000 2,480,500 11,735,500 2023 -2027 8,610,000 1,092,600 9,702,600 2028 -2029 2,300,000 81,200 2,381,200 $ 28,805,000 $ 7,730,500 $ 36,535,500 M CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 8 - COMMITMENTS AND CONTINGENCIES Litigation: Various claims and lawsuits, which arise in the normal course of operations, are pending against the City. It is management's opinion, based on the advice of the City Attorney, that the outcome of these actions will not have a material adverse effect on the financial statements of the City. Management also believes that the litigation against the City will be covered by insurance. Government grants: Revenue recognized from grants may be subject to audit by the grantor agencies. In the opinion of City management, as a result of such audits, disallowances of grant revenues, if any, would not have a material adverse effect on the City's financial condition. Employment agreement: The City has an employment contract with its City Manager that provides for an annual salary, adjusted for cost -of- living increases and certain benefits. This agreement is effective for an indefinite term subject to termination of the City Manager by the City Commission in accordance with Article III, Section 3.08 of the City Charter. The City Manager must provide two (2) months advance written notice to resign voluntarily. Charter school agreements: The City has a contract with the School Board of Miami -Dade County, Florida, that allows for Aventura City of Excellence School to provide the residents of the City of Aventura an elementary and middle school education choice. During the year, the City Commission acting in their capacity as the School's Governing Board, signed their third contract amendment with the County to increase the School's capacity from 972 (school year 2011/2012) to 1032 students over the next five years. The contract ends on June 30, 2018 but provides for a renewal of up to 15 years by mutual agreement of both parties. The City has entered into an agreement with Charter School USA, Inc. ( "CSUSA ") to provide administrative and educational services for the City's charter school. The agreement terminates on June 30, 2013. The City intends to renew this agreement after its expiration. Other agreements: The City has entered into a three -year nonexclusive agreement with an engineering consulting firm (the "Consultant ") to provide building inspections and plan review services. Pursuant to the agreements, the Consultant receives 70% of the gross building permit fee revenues for the first $ 50,000 in fees in a month and 65 % of the amount in excess of $ 50,000 per month. However, the Consultant receives 35 % of the permit fee for all projects owned, paid for and to be operated by the City. The agreement may be renewed for one additional three -year term. Pension funding: There have been significant negative economic developments surrounding the overall market- liquidity, credit availability and market collateral levels which have resulted in previous declines in the value of the investment securities held by the Police Officers' Retirement Plan. Consequently, the City's required contribution amount to the Plan, which is necessary to maintain the actuarial soundness and to provide the level of assets sufficient to meet participant benefits, could significantly increase in future periods. It is management's opinion that future contributions to the Plan will not have a material adverse effect on the City's financial position. 43 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 8 - COMMITMENTS AND CONTINGENCIES (continued) Construction agreements: The City has entered into various agreements in reference to the construction and maintenance of the City streets. At year -end, there was one outstanding construction commitment amounting to approximately $ 204,000. NOTE 9 - RISK MANAGEMENT The City is exposed to various risks of loss related to torts, thefts of, damage to and destruction of assets, errors and omissions, employee health, workers' compensation and natural disasters for which the City carries commercial insurance. Settlement amounts have not exceeded insurance coverage for any of the past three (3) fiscal years. In addition, there were no reductions in insurance coverage from those in the prior year. NOTE 10 - OTHER POST - EMPLOYMENT BENEFITS The City had previously implemented the Governmental Accounting Standards Board Statement No. 45, Accounting and Reporting by Employers for Postemployment Benefits Other Than Pension (OPEB), for certain postemployment health care benefits provided by the City. As of October 1, 2011, the latest actuarial valuation, health care and dental plan participants consisted of: Active Plan participants 178 Retiree Plan participants 6 184 Plan Description: Pursuant to Section 112.0801, Florida Statutes, the City is required to permit participation in the health insurance program to retirees and their eligible dependents at a cost to the retiree that is no greater than the cost at which coverage is available for active employees. Other than certain department directors, retirees must pay a monthly premium as determined by the insurance carrier. Retirees pay 100% of the blended equivalent premium rates. The blended rates provide an implicit subsidy for retirees because, on an actuarial basis, their current and future claims are expected to result in higher costs to the plan on average than those of active employees. Pursuant to Resolution 2006 -64; department directors who retire at age 55 or later with at least 10 years of service are not required to pay a premium for medical or dental coverage for themselves prior to age 65. For these individuals, there is an explicit subsidy where the City provides for the retiree's coverage. The plan described above is currently offered by the City under a "single employer plan" structure. The City provides all financial information and required disclosures of its other post - employment benefit plan in this document; therefore, a separate audited post - employment benefits plan report is not available. .. CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 10 - OTHER POST - EMPLOYMENT BENEFITS (continued) Funding Policy: The City is funding the post - employment benefits on a pay -as- you -go basis. For the fiscal year ended September 30, 2012, the annual required contribution was $ 122,000. The City made estimated explicit and implicit contributions of $ 95,000 towards this amount. Retirees contributed approximately $ 55,000 towards the cost of these benefits, for the fiscal year ended September 30, 2012. At September 30, 2012 the City recorded a net OPEB obligation of $ 204,000 for governmental activities, in its government -wide statement of net assets. Annual OPEB Cost and Net OPEB Obligation: The annual other postemployment benefit (OPEB) cost (expense) is calculated based on the annual required contribution (ARC), an amount actuarially determined in accordance with the parameters of GASB Statement No. 45. The ARC represents a level of funding that, if paid on an ongoing basis, is projected to cover the normal cost each year and amortize any unfunded actuarial liability over a period not to exceed 30 years. The following table shows the components of the City's annual OPEB cost for the year, the amount actually contributed, and the changes in the net OPEB obligation. Annual Required Contribution (ARC) $ 122,000 Interest on net pension obligation 8,000 Adjustment to annual required contribution (19,000) Total annual OPEB cost 111,000 Employer contributions made * (95,000) Interest on employer contributions (2,000) Increase in net OPEB obligation 14,000 Net OPEB obligation, beginning of year 190,000 Net OPEB obligation, end of year $ 204,000 *estimated, reflects both the explicit and implicit subsidy. The City's annual OPEB cost, the percentage of annual OPEB costs contributed to the plan, and the net OPEB obligation for 2012 and two preceding years were as follows: 45 Percentage Annual of Annual Year Ending OPEB OPEB Cost Net OPEB September 30, Cost Contributed Obligation 2012 $ 111,000 85.59% $ 204,000 2011 $ 113,000 84.07% $ 190,000 2010 $ 142,000 44.37% $ 174,000 45 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 10 - OTHER POST- EMPLOYMENT BENEFITS (continued) Funded Status and Funding Progress: The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits. An analysis of funding progress (the last plan year valuation date) is as follows: Methods and Assumptions: Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short -term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long -term perspective of the calculations. In the October 1, 2011 actuarial valuation, the projected unit credit cost method was used. The annual required contribution (ARC) reflects a 12 -year open period, level dollar payment amortization of the unfunded actuarial accrued liability (UAAL). The actuarial assumptions included a 4.0% investment rate of return. The following assumptions were made: Eligibility For police officers, retirement was assumed to occur at the earlier of any age with at least 25 years of service or at age 55 with at least six (6) years of service; for all other employees eligibility was assumed to occur at the earlier of any age with at least 30 years of service or at age 62 with at least six (6) years of service. Mortality: Sex - distinct mortality rates set forth in the RP -2000 mortality table for annuitants and non- annuitants, projected to 2013 by Scale AA, as published by the IRS for purposes of IRC section 430. Disability: Sex - distinct disability rates set forth in the Wyatt 1985 Disability Study; class 4 rates were used for police officers and class 1 rates were used for all other employees. Permanent Withdrawal from Active Status: Sex - distinct withdrawal rates set forth in Scale 155 table. 46 Actuarial Accrued Unfunded Liability Actuarial UAAL Actuarial Actuarial at Entry Accrued as % of Valuation Value of Age Liability Funded Covered Covered Date Assets (AAL) (UAAL) Ratio Payroll Payroll 10 /01 /11 $ - $ 710,000 $ 710,000 0.0% $ 12,781,000 5.6% Methods and Assumptions: Projections of benefits for financial reporting purposes are based on the substantive plan (the plan as understood by the employer and the plan members) and include the types of benefits provided at the time of each valuation and the historical pattern of sharing of benefit costs between the employer and plan members to that point. The actuarial methods and assumptions used include techniques that are designed to reduce the effects of short -term volatility in actuarial accrued liabilities and the actuarial value of assets, consistent with the long -term perspective of the calculations. In the October 1, 2011 actuarial valuation, the projected unit credit cost method was used. The annual required contribution (ARC) reflects a 12 -year open period, level dollar payment amortization of the unfunded actuarial accrued liability (UAAL). The actuarial assumptions included a 4.0% investment rate of return. The following assumptions were made: Eligibility For police officers, retirement was assumed to occur at the earlier of any age with at least 25 years of service or at age 55 with at least six (6) years of service; for all other employees eligibility was assumed to occur at the earlier of any age with at least 30 years of service or at age 62 with at least six (6) years of service. Mortality: Sex - distinct mortality rates set forth in the RP -2000 mortality table for annuitants and non- annuitants, projected to 2013 by Scale AA, as published by the IRS for purposes of IRC section 430. Disability: Sex - distinct disability rates set forth in the Wyatt 1985 Disability Study; class 4 rates were used for police officers and class 1 rates were used for all other employees. Permanent Withdrawal from Active Status: Sex - distinct withdrawal rates set forth in Scale 155 table. 46 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 10 - OTHER POST - EMPLOYMENT BENEFITS (continued) Investment Rate of Return: A discount rate of 4.00% per annum (includes inflation at 2.50% per annum) . Healthcare Cost Trend Rate: The cost of covered medical services has been assumed to increase in accordance with the following rates, compounded annually: 2011/2012 8.00% 2012/2013 7.50% 2013/2014 7.00% 2014/2015 6.50% 2015/2016 6.00% 2016/2017 5.50% 2017/2018 and later 5.00% With respect to the fully subsidized dental insurance, the assumed dental costs increase at the rate of 3.00% per year Implied Subsidy (Medical Insurance): The implied subsidy for a 62 -year old retiree is assumed to be $ 5,400 per year for the retiree and $ 5,400 per year for the retiree's spouse. Implied Subsidy (Dental Insurance): There is no implied subsidy for the dental insurance since we have assumed that the premium charged for the covered individuals does not increase with age. Age- Related Morbidity: The cost of the medical services has been assumed to increase with age at the rate of 3.50% per annum. Retiree Contribution: Other than eligible department directors, retirees electing post- employment healthcare coverage have been assumed to make monthly contributions equal to the premium charged to active employees. Eligible department directors have been assumed to make the required contribution for healthcare coverage for their spouses. Cost -of- Living Increase: Retiree contributions have been assumed to increase in accordance with the healthcare cost trend assumption. Future Participation Rates: Other than eligible department directors, 5 % of eligible employees were assumed to elect coverage until age 65 upon retirement or disability; 100% of department directors who are eligible for the explicit subsidy from the City were assumed to elect coverage until age 65. 47 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 10 - OTHER POST - EMPLOYMENT BENEFITS (continued) Marriage and Dependent Assumption: 80% of males and 50% of females are assumed to elect coverage at retirement for themselves and their spouses, with husbands assumed to be three (3) years older than their wives; active employees were not assumed to have any dependent children upon retirement or disability. COBRA Assumption: Future healthcare coverage provided solely pursuant to COBRA was not included in the OPEB valuation; because the COBRA premium is determined periodically based on plan experience, it is assumed that the COBRA premium to be paid by the participant fully covers the cost of providing healthcare coverage during the relevant period. NOTE 11 - DEFINED CONTRIBUTION PENSION PLANS The City is a single - employer that contributes to four (4) defined contribution pension plans based on employee classification created in accordance with Internal Revenue Code Section 401(a). The plans currently cover all full -time employees of the City. Under these plans, the City contributes between 7 % and an amount equal to the annual IRS maximum depending on employee classifications. City contributions for the City Manager, department directors and assistant department directors vest in the year they are contributed. City contributions to general employees vest beginning after one year of service through year five in 20% increments. Participants are not permitted to make contributions during the year. The City made plan contributions of approximately $ 843,000 during the year. Plan provisions and contribution requirements may be amended by the City Commission. In addition, the City provides to all full -time employees a deferred compensation plan under Section 457 of the Internal Revenue Code. Under this program, employees may voluntarily elect to defer a portion of their salary to future years; with no required contributions from the City. Both programs are administered by ICMA Retirement Corp. The City does not exercise any control or fiduciary responsibility over the Plans' assets. Therefore, the assets, liabilities and transactions are not included in the City's financial statements. NOTE 12 - DEFINED BENEFIT PENSION PLAN The City agreed to provide a defined benefit retirement plan effective October 1, 2003 through a collective bargaining contract between the City and the Miami -Dade County Police Benevolent Association City of Aventura Police Officers' Retirement Plan (the "Plan "). The Plan is a single - employer defined benefit retirement plan. The Plan was established by the City in accordance with a City ordinance and state statutes. The Plan covers, only sworn police officers and is funded by a combination of City contributions, employee contributions, rollover of 401(a) plan assets for certain employees and the proceeds of the state insurance premium tax on casualty insurance policies. The current funding levels of covered payroll are 20.955 % for the City's contribution, 6.775 % for the employee's contribution and 4.133 % for the state premiums tax. The State is required to contribute pursuant to Chapter 185 of the Florida Statutes, a premium on certain casualty insurance contracts written on the City's property. The premium tax is collected by the State and remitted to the City. During the current fiscal year the City received $ 268,692 from the State. The Plan and employee contributions are mandatory for all sworn police officers. Contribution requirements of the Plan members and the participating employer are established and may be changed by an amendment to the City ordinance. 48 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 12 - DEFINED BENEFIT PENSION PLAN (continued) The City utilizes the entry age normal cost method. The asset valuation method is a 5 year smooth. Information as of the latest actuarial valuation, dated October 1, 2012, included no cost of living adjustments and a 3.00% annual inflation rate; an annual investment rate of return of 7.50 %; projected annual salary increases of 5.00 %; the amortization method is level dollar, closed; and a remaining amortization period of 21 years. There have been no plan changes, changes to assumptions or methods since the prior valuation report. of: On October 1, 2012, (the most recent actuarial valuation date), Plan membership consisted Retirees and beneficiaries receiving benefits Active Plan members 13 82 95 The financial statements of the Plan are prepared using the accrual basis of accounting. Plan member contributions are recognized in the period in which the contributions are due. The City's contributions are recognized when due and a formal commitment to provide the contributions has been made. Benefits and refunds are recognized when due and payable in accordance with the terms of the Plan. The general administration, management and investment decisions of the Plan and the responsibility for carrying out its provisions is vested in the five (5) members Board of Trustees. Administrative costs of the Plan are financed through current or prior investment earnings. The City has issued stand -alone financial statements for the Plan, which may be obtained from the City's Finance Department. Benefits: Normal retirement may be received upon attainment the earlier of age 55 with 10 years of credited service or upon completion of 25 years of credited service, regardless of age. For the first 40 years of service, the monthly benefit received will be 3.00% of final monthly compensation multiplied by the number of years of service, to a maximum of 80.00 %. Years credited beyond 40 will be taken into account at 2.00% of final compensation per year. Early retirement may be received upon the attainment of age 45 with 10 years of credited service. The benefit may be received either on a deferred basis or on an immediate basis. On an immediate basis, the benefit amount will be the normal retirement benefit reduced by 3.00% per year for each year by which the retirement date precedes the normal retirement date. On a deferred basis, the benefit amount will be the same as the normal retirement benefit except that the final compensation and credited service will be based upon the early retirement date. Disability retirement: Members who become disabled due to service - incurred injuries, which arise out of performance of service with the City, will receive a monthly benefit amount equal to the member's accrued benefit but not less than 42.00% of the member's final monthly compensation as of the date of disability, offset by any other payments, such as worker's compensation. Members who become disabled due to non - service- incurred injuries, which do not arise out of performance with the City, and who have completed at least 10 years of service, will receive a monthly benefit amount equal to 3.00% of final monthly compensation for each year of credited service, but not less than 30.00%. 49 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 12 - DEFINED BENEFIT PENSION PLAN (continued) Trend information: Trend information indicates the progress made in accumulating sufficient assets to pay benefits when due. An analysis of funding progress for the year ended September 30, 2012 is as follows: Funded status and funding progress: The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits. An analysis of funding progress as of October 1, 2012, (the most recent actuarial valuation date), is as follows: Actuarial Annual Percentage Net Pension Year Ending Pension of APC Obligation/ September 30, Cost Contributed (Asset) 2012 $ 1,936,952 99% $ (205,783) 2011 $ 1,659,953 99% $ (219,038) 2010 $ 1,246,909 106% $ (233,148) Funded status and funding progress: The schedule of funding progress, presented as RSI following the notes to the financial statements, presents multiyear trend information about whether the actuarial value of plan assets are increasing or decreasing over time relative to the actuarial accrued liability for benefits. An analysis of funding progress as of October 1, 2012, (the most recent actuarial valuation date), is as follows: Actuarial Accrued Unfunded Liability Actuarial Actuarial Actuarial at Entry Accrued Valuation Value of Age Liability Date Assets (AAL) (UAAL) 10/01/12 $ 19,610,921 $ 25,129,927 $ 5,519,006 UAAL as % of Funded Covered Covered Ratio Payroll Payroll 78.04% $ 7,663,687 72.02% The annual pension cost and net pension obligation (asset) for the Plan for year ended September 30, 2012 is as follows: Annual Required Contribution (ARC) $ 1,923,697 Interest on net pension obligation (16,428) Adjustment to annual required contribution 29,683 Annual Pension Cost 1,936,952 Contributions made 1,923,697 Decrease in net pension (asset) obligation 13,255 Net pension (asset) obligation, beginning of year (219,038) Net pension (asset) obligation, end of year $ (205,783) 50 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 13 - PRONOUNCEMENTS ISSUED BUT NOT YET EFFECTIVE The GASB has issued several statements not yet implemented by the City. The statements which might impact the City are as follows: GASB Statement No. 60, Accounting and Financial Reporting for Service Concession Arrangements, was issued November 2010. The objective of this Statement is to improve financial reporting by addressing issues related to service concession arrangements (SCAs), which are a type of public - private or public - public partnership. As used in this Statement, an SCA is an arrangement between a transferor (a government) and an operator (governmental or nongovernmental entity) in which (1) the transferor conveys to an operator the right and related obligation to provide services through the use of infrastructure or another public asset (a "facility ") in exchange for significant consideration and (2) the operator collects and is compensated by fees from third parties. The provisions of this Statement will be effective for the City beginning with its year ending September 30, 2013. GASB Statement No. 61, The Financial Reporting Entity: Omnibus - an Amendment of GASB Statements No. 14 and No. 34, was issued November 2010. The objective of this Statement is to improve financial reporting for a governmental financial reporting entity. This Statement modifies certain requirements for inclusion of component units in the financial reporting entity. This Statement also clarifies the reporting of equity interests in legally separate organizations. The provisions of this Statement will be effective for the City beginning with its year ending September 30, 2013. GASB Statement No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre - November 30, 1989 FASB and AICPA Pronouncements, was issued December 2010. The objective of this Statement is to incorporate into the GASB's authoritative literature certain accounting and financial reporting guidance that is included in the following pronouncements issued on or before November 30, 1989, which does not conflict with or contradict GASB pronouncements: 1) Financial Accounting Standards Board (FASB) Statements and Interpretations; 2) Accounting Principles Board Opinions; and 3) Accounting Research Bulletins of the American Institute of Certified Public Accountants' (AICPA) Committee on Accounting Procedure. The provisions of this Statement will be effective for the fiscal year ending September 30, 2013. GASB Statement No. 63, Financial Reporting of Deferred Outflows of Resources, Deferred Inflows of Resources, and Net Position, was issued June 2011. The objective of this Statement is to provide financial reporting guidance for deferred outflows of resources and deferred inflows of resources as defined by GASB's Concepts Statement No. 4. It also amends the net asset reporting requirements in Statement No. 34, Basic Financial Statements —and Management's Discussion and Analysis for State and Local Governments, and other pronouncements by incorporating deferred outflows of resources and deferred inflows of resources into the definitions of net assets and by renaming it as net position, rather than net assets. The requirements of this Statement will improve financial reporting by standardizing the presentation and the effects on a government's net position. The provisions of this Statement will be effective for the fiscal year ending September 30, 2013. 51 CITY OF AVENTURA, FLORIDA NOTES TO BASIC FINANCIAL STATEMENTS September 30, 2012 NOTE 13 - PRONOUNCEMENTS ISSUED BUT NOT YET EFFECTIVE (continued) GASB Statement No. 65, Items Previously Reported as Assets and Liabilities, was issued March 2012. The objective of this Statement is to either (a) properly classify certain items that were previously reported as assets and liabilities as deferred outflows of resources or deferred inflows of resources or (b) recognize certain items that were previously reported as assets and liabilities as outflows of resources (expenses or expenditures) or inflows of resources (revenues). These determinations are based on the definitions of those elements in Concepts Statement No. 4, Elements of Financial Statements. The provisions of this Statement will be effective for the fiscal year ending September 30, 2014. GASB Statement No. 66, Technical Corrections - 2012 —an amendment of GASB Statements No. 10 and No. 62, was issued March 2012. The objective of this Statement is to improve accounting and financial reporting by state and local governmental entities by resolving conflicting guidance that resulted from the issuance of two pronouncements— Statements No. 54, Fund Balance Reporting and Governmental Fund Type Definitions, and No. 62, Codification of Accounting and Financial Reporting Guidance Contained in Pre - November 30, 1989 FASB and AICPA Pronouncements. The provisions of this Statement will be effective for the fiscal year ending September 30, 2014. GASB Statement No. 67, Financial Reporting for Pension Plans —an amendment of GASB Statement No. 25, was issued June 2012. The objective of this Statement is to improve financial reporting by state and local governmental pension plans. This Statement results from a comprehensive review of the effectiveness of existing standards of accounting and financial reporting for pensions with regard to providing decision - useful information, supporting assessments of accountability and inter - period equity, and creating additional transparency. This Statement replaces the requirements of Statements No. 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans, and No. 50, Pension Disclosures, as they relate to pension plans that are administered through trusts or equivalent arrangements (hereafter jointly referred to as trusts) that meet certain criteria. The provisions of this Statement will be effective for the fiscal year ending September 30, 2014. GASB Statement No. 68, Accounting and Financial Reporting for Pensions —an amendment of GASB Statement No. 27, was issued June 2012. The primary objective of this Statement is to improve accounting and financial reporting by state and local governments for pensions. This Statement results from a comprehensive review of the effectiveness of existing standards of accounting and financial reporting for pensions with regard to providing decision - useful information, supporting assessments of accountability and inter - period equity, and creating additional transparency. This Statement replaces the requirements of Statement No. 27, Accounting for Pensions by State and Local Governmental Employers, as well as the requirements of Statement No. 50, Pension Disclosures, as they relate to pensions that are provided through pension plans administered as trusts or equivalent arrangements (hereafter jointly referred to as trusts) that meet certain criteria. The provisions of this Statement will be effective for the fiscal year ending September 30, 2015. GASB Statement No. 69, Government Combinations and Disposals of Government Operations, was issued January 2013. This Statement establishes accounting and financial reporting standards related to government combinations and disposals of government operations. As used in this Statement, the term government combinations include a variety of transactions referred to as mergers, acquisitions, and transfers of operations. The provisions of this Statement will be effective for the fiscal year ending September 30, 2015. The City's management has not yet determined the effect that these unadopted standards may have on the City's financial statements. 52 CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND For the Year Ended September 30, 2012 Revenues: Ad valorem taxes: Current Delinquent Utility service taxes: Electric Telecommunication Water Gas Budgeted Amounts Original Final $ 11,955,146 50,000 3,908,625 2,600,000 850,000 51,000 $ 11,955,146 50,000 3,908,625 2,600,000 850,000 51,000 Variance with Final Budget Actual Positive Amounts (Negative) $ 11,612,015 $ (343,131) 112,174 62,174 3,990,392 2,558,968 909,950 27,481 81,767 (41,032) 59,950 (23,519) Franchise fees: 5,200 5,200 4,585 (615) Electric 2,991,000 2,991,000 2,580,362 (410,638) Gas 65,000 65,000 20,678 (44,322) Sanitation 420,000 420,000 438,932 18,932 Towing 30,000 30,000 30,093 93 Total taxes Intergovernmental revenues: Federal grants State and local grants State pension contribution Alcoholic beverage licenses State revenue sharing Half cent sales tax County occupational licenses Total intergovernmental revenues Licenses and permits: City business tax receipts Building permits Certificates of occupancy Engineering Total licenses and permits Charges for services: 22,920,771 7,542 8,677 284,000 20,000 350,000 1,725,000 44,000 2,439,219 725,000 1,300,000 10,000 9,000 2,044,000 22, 920, 771 247,542 8,677 284,000 20,000 350,000 2,115,000 44,000 3,069,219 725,000 1,630,000 10,000 9,000 2,374,000 22,281, 045 262,989 16,672 268,692 17,454 413,739 2,320,912 44,935 3,345,393 838,388 1,634,745 33,227 16,305 2,522,665 (639,726) 15,447 7,995 (15,308) (2,546) 63,739 205,912 935 276,174 113,388 4,745 23,227 7,305 148,665 Certificate of use fees 5,200 5,200 4,585 (615) Lien search fees 35,000 35,000 90,124 55,124 Development review fees 35,000 35,000 153,067 118,067 Recreation/cultural events 985,000 1,035,000 1,063,747 28,747 Police services 1,000,000 1,000,000 1,022,537 22,537 Total charges for services 2,060,200 2,110,200 2,334,060 223,860 53 CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND (continued) For the Year Ended September 30, 2012 Fines and forfeitures: County court fees Code violation fines Total fines and forfeitures Other: Interest income Miscellaneous Total other Total revenues Expenditures: Current General government: City Commission: Personnel services Operating City Manager: Personnel services Operating Capital outlay Finance: Personnel services Operating Capital outlay Information technology: Personnel services Operating Capital outlay Legal: Operating City Clerk: Personnel services Operating Total general government - departmental Budgeted Amounts Original Final 400,000 1,057,000 1,457,000 150,000 56,000 lnr� nnn 31,127,190 62,063 57,875 727,373 161,300 4,000 776,024 99,040 2,000 734,626 234,550 111,000 :1 111 400,000 1,277,000 1,677,000 150,000 56,000 206,000 32,357,190 62,063 57,875 727,373 161,300 4,000 776,024 99,040 2,000 734,626 234,550 370,910 :1 IIP Actual Amnrnnte 426,897 1,325,799 1,752,696 131,059 77,205 208,264 32,444,123 63,276 53,524 742,984 130,844 7,332 686,470 80,930 1,652 553,886 204,728 127,773 265,791 Variance with Final Budget Positive (Negative) 26,897 48,799 75,696 (18,941) 11 Wns 2,264 RA 9'4'4 (1,213) 4,351 (15,611) 30,456 (3,332) 89,554 18,110 348 180,740 29,822 243,137 14,209 215,382 215,382 221,571 (6,189) 54,700 68,700 61,478 7,222 3,519,933 3,793,843 3,202,239 591,604 54 CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL - GENERAL FUND (continued) For the Year Ended September 30, 2012 Nondepartmental: Personnel services Operating Capital outlay Total general government - nondepartmental Total general government Public safety: Police: Personnel services Operating Capital outlay Community development: Personnel services Operating Capital outlay Total public safety Community services: Personnel services Operating Capital outlay Arts and cultural center: Operating Capital outlay Total community services Total expenditures Excess (deficiency) of revenues over expenditures Other financing sources (uses): Transfers in Transfers out Appropriated fund balance Total other financing sources (uses) Net change in fund balance $ See Notes to Required Supplementary Information. 55 Variance with Final Budget Budgeted Amounts Actual Positive Original m Amounts (Negative) 15,000 15,000 13,485 1,515 1,589,000 1,589,000 1,188,014 400,986 15,368,488 14,948,488 198,248 14,750,240 16,972,488 16,552,488 1,399,747 15,152,741 20,492,421 20,346,331 4,601,986 15,744,345 14,373,177 14,421,177 14,452,890 (31,713) 1,762,542 1,982,542 1,826,943 155,599 1,384,500 1,970,300 537,338 1,432,962 719,172 719,172 709,824 9,348 787,700 1,347,700 1,297,356 50,344 3,500 47,500 2,479 45,021 19,030,591 20,488,391 18,826,830 1,661,561 1,344,404 1,344,404 1,287,196 57,208 2,724,700 2,809,700 2,818,717 (9,017) 420,700 911,880 726,503 185,377 673,253 673,253 627,072 46,181 0 1,838 454 1,384 5,163,057 5,741,075 5,459,942 281,133 44,686,069 46,575,797 28,888,758 17,687,039 (13,558,879) (14,218,607) 3,555,365 17,773,972 82,250 82,250 82,250 - (2,220,979) (2,218,622) (2,218,622) - 15,697,608 16,354,979 - (16,354,979) 13,558,879 14,218,607 (2,136,372) (16,354,979) - $ - $ 1,418,993 $ 1,418,993 See Notes to Required Supplementary Information. 55 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND STREET MAINTENANCE FUND For the Year Ended September 30, 2012 REVENUES: Intergovernmental revenues Impact fees Interest income Total revenues EXPENDITURES: Operating Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Appropriated fund balance Total other financing sources (uses) Net change in fund balance Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) $ 1,511,650 $ 1,511,650 $ 1,869,446 $ 357,796 - - 20,830 20,830 500 500 2,768 2,268 1,512,150 1,512,150 1,893,044 380,894 775,000 775,000 753,233 21,767 867,150 1,183,959 775,307 408,652 1,642,150 1,958,959 1,528,540 430,419 (130,000) (446,809) 364,504 811,313 130,000 446,809 - (446, 809) 130,000 446,809 - (446,809) $ - $ - $ 364,504 $ 364,504 See Notes to Required Supplementary Information. 56 CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULES OF FUNDING PROGRESS POLICE OFFICERS' RETIREMENT PLAN FUND AND OTHER POST - EMPLOYMENT BENEFITS (UNAUDITED) OTHER POST - EMPLOYMENT BENEFITS (UNAUDITED) 10 /01 /11 $ - $ 710,000 $ 710,000 10/01/08 $ - $ 735,000 $ 735,000 UAAL as a Percentage (c) of Covered Covered Payroll Payroll (b- a) /(c) 7,663,687 72.02% 6,418,797 91.88% 5,576,592 69.76% 0.0% $ 12,781,000 5.54% 0.0% $ 9,175,000 8.01% See Notes to Required Supplementary Information. 57 (b) Actuarial Accrued Liability (a) (AAL)- Unfunded Actuarial Actuarial Frozen AAL Funded Valuation Value Initial (UAAL) Ratio Date of Assets Liability (b) -(a) (a) /(b) POLICE OFFICERS' RETIREMENT PLAN FUND (UNAUDITED) 10/01/12 $ 19,610,921 $ 25,129,927 $ 5,519,006 78.04% $ 10/01/09 $ 10,375,587 $ 16,273,418 $ 5,897,831 63.76% $ 10/01/07 $ 6,935,097 $ 10,825,108 $ 3,890,011 64.06% $ OTHER POST - EMPLOYMENT BENEFITS (UNAUDITED) 10 /01 /11 $ - $ 710,000 $ 710,000 10/01/08 $ - $ 735,000 $ 735,000 UAAL as a Percentage (c) of Covered Covered Payroll Payroll (b- a) /(c) 7,663,687 72.02% 6,418,797 91.88% 5,576,592 69.76% 0.0% $ 12,781,000 5.54% 0.0% $ 9,175,000 8.01% See Notes to Required Supplementary Information. 57 CITY OF AVENTURA, FLORIDA REQUIRED SUPPLEMENTARY INFORMATION SCHEDULE OF CONTRIBUTIONS FROM THE EMPLOYER AND THE STATE OF FLORIDA - POLICE OFFICERS' RETIREMENT PLAN FUND (UNAUDITED) See Notes to Required Supplementary Information. 58 CITY STATE OF FLORIDA Annual Required City Percentage Annual Percentage Contribution Contribution Contributed Contribution Contributed 2012 $ 1,655,005 $ 1,655,005 100.00% $ 268,692 100.00% 2011 $ 1,645,843 $ 1,645,843 100.00% $ 250,125 100.00% 2010 $ 1,245,754 $ 1,320,667 106.01% $ 284,381 100.00% 2009 $ 886,124 $ 1,149,156 129.68% $ 265,314 100.00% 2008 $ 1,006,054 $ 1,024,908 101.87% $ 163,088 100.00% 2007 $ 994,187 $ 1,000,802 100.67% $ 160,063 100.00% See Notes to Required Supplementary Information. 58 CITY OF AVENTURA, FLORIDA NOTES TO REQUIRED SUPPLEMENTARY INFORMATION September 30, 2012 NOTE 1 - BUDGETS AND BUDGETARY ACCOUNTING An annual appropriated budget is adopted for all governmental funds with the exception of the Charter School Fund, Federal Forfeiture Fund and Law Enforcement Trust Fund (Special Revenue Funds). The City follows these procedures in establishing the budgetary data reflected in the basic financial statements: a. The City Manager submits to the City Commission a proposed operating and capital budget for the ensuing fiscal year. The budget includes proposed expenditures and the means of financing them. b. Public hearings are conducted to obtain taxpayer comments. C. Prior to October 1, the budget is legally enacted through passage of an ordinance. d. Formal budgetary integration is employed as a management control device during the year for the governmental funds described above. e. The City Commission, by ordinance, may make supplemental appropriations for the year up to the amount of revenues in excess of those estimated. The City Commission made several supplementary budgetary appropriations throughout the year including approximately $ 1,887,400 in the General Fund. Budgets for the governmental funds are adopted on a basis consistent with generally accepted accounting principles ( "GAAP "). g. The City Manager is authorized to transfer part or all of an unencumbered appropriation balance within departments within a fund; however, any revisions that alter the total appropriations of any department or fund must be approved by the City Commission. The classification detail at which expenditures may not legally exceed appropriations is at the department level. h. Unencumbered appropriations lapse at fiscal year -end. Unencumbered amounts are reappropriated in the following year's budget for capital accounts only. i. Expenditures did not exceed appropriations in any of the governmental funds. NOTE 2 - ACTUARIAL ASSUMPTIONS Police Officers' Retirement Plan Fund - Information as of the latest actuarial valuation date of October 1, 2012 included no cost of living adjustments and a 3.00% annual inflation rate; an annual investment rate of return of 7.50 %; projected annual salary increases of 5.00 %; the amortization method is level dollar, closed; and a remaining amortization period of 21 years. Other Post - Employment Benefits - Information as of the latest actuarial valuation date of October 1, 2011 included an annual investment rate of return of 4.0%; the amortization method is level dollar; an amortization period of 12 year -open and an actuarial cost method of projected unit credit. W (This page intentionally left blank.) NON -MAJOR GOVERNMENTAL FUNDS SPECIAL REVENUE FUNDS Special revenue funds are used to account for specific revenues that are legally restricted to expenditure for particular purposes. Police Education Fund - This fund is used to account for revenues and expenditures associated with the two dollars (2) the City receives from each paid traffic citation, by State Statute, must be used to further the education of the City's police officers. Police Capital Outlay Impact Fee Fund - This fund is used to account for impact fees derived from new developments and restricted by ordinance for police capital improvements. This fund provides a funding source to assist the City in providing police services required by the growth in the City. Park Development Fund - This fund is used to account for revenues and expenditures specifically earmarked for capital improvements to the City's park system. This fund accounts for impact fees derived from new developments and restricted by ordinance for park capital improvement projects. 911 Fund - This fund is used to account for revenues and expenditures specifically earmarked for the City's emergency 911 system in accordance with Florida Statutes 365.172. The funds may be used to provide emergency dispatch systems, training, communication, maintenance and repairs and related capital outlay purchases. The fund offsets a portion of the emergency 911 operations. Federal Forfeiture Fund - This fund is used to account for proceeds obtained from the sale of confiscated and unclaimed property turned over to the City through court judgments. Proceeds are to be used solely for crime fighting purposes. Law Enforcement Trust Fund - This fund is used to account for resources resulting from police department confiscations and their expenditure for law enforcement purposes. DEBT SERVICE FUNDS Debt service funds are used to account for the accumulation of resources for and the payment of principal and interest on all general long -term debt. Debt Service Fund Series 2010 & 2011 - This fund is used to accumulate monies for the payment of the 2010 and 2011 Refunding Revenue Bonds. Non -ad valorem tax revenues in the governmental funds are pledged for the payment of principal and interest. Debt Service Fund Series 2012 - Charter School Land Acquisition - This fund is used to accumulate monies for the payment of the 2012 Refunding Revenue Bonds. Non -ad valorem tax revenues in the governmental funds are pledged for the payment of principal and interest. Debt Service Fund Series 2012 - Charter School Building Construction - This fund is used to accumulate monies for the payment of the 2002 Refunding Revenue Bonds. Non -ad valorem tax revenues in the governmental funds are pledged for the payment of principal and interest. CITY OF AVENTURA, FLORIDA COMBINING BALANCE SHEET OTHER NONMAJOR GOVERNMENTAL FUNDS September 30, 2012 Special Revenue Funds Police Capital Law Police Outlay Park Federal Enforcement Education Impact Development 911 Forfeiture Trust Fund Fee Fund Fund Fund Fund Fund ASSETS: Cash, cash equivalents and investments $ 10,502 $ 5,513 $ 2,264 $ 482 $ 1,012,852 $ 150,883 Restricted cash, cash equivalents and investments - - - - - - Accounts receivable, net - 59,345 Due from other governments 1,348 - - - - - Total assets $ 11,850 $ 5,513 $ 2,264 $ 59,827 $ 1,012,852 $ 150,883 LIABILITIES AND FUND BALANCES: Liabilities: Accounts payable Accrued liabilities Deferred revenue Total liabilities FUND BALANCES: Restricted for: Public safety Debt service Capital improvements Total fund balances Total liabilities and fund balances 169 $ 12,046 $ 46,868 - 30,000 - - - 30,169 12,046 46,868 11,850 - - 29,658 1,000,806 104,015 - 5,513 2,264 - - - 11,850 5,513 2,264 29,658 1,000,806 104,015 $ 11,850 $ 5,513 $ 2,264 $ 59,827 $ 1,012,852 $ 150,883 .1 267,510 267,510 11,589 3,490 121,343 11,589 3,490 121,343 $ 59,083 267,510 30,000 356,593 1,146,329 136,422 7,777 $ 279,099 $ 3,490 $ 121,343 $ 1,647,121 61 Debt Service Funds Debt Debt Service Fund Service Fund Debt Series 2012 Series 2012 Service Charter Charter Total Fund School School Nonmajor Series 2010 Land Building Governmental & 2011 Acquisition Construction Funds $ 279,099 $ 3,427 $ 121,282 $ 1,586,304 - 63 61 124 - - - 59,345 - - - 1,348 $ 279,099 $ 3,490 $ 121,343 $ 1,647,121 267,510 267,510 11,589 3,490 121,343 11,589 3,490 121,343 $ 59,083 267,510 30,000 356,593 1,146,329 136,422 7,777 $ 279,099 $ 3,490 $ 121,343 $ 1,647,121 61 CITY OF AVENTURA, FLORIDA COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES OTHER NONMAJOR GOVERNMENTAL FUNDS For the Year Ended September 30, 2012 Police Capital Police Outlay Education Impact Fund Fee Fund Special Revenue Funds Park Development 911 Fund Fund Law Federal Enforcement Forfeiture Trust Fund Fund REVENUES: Intergovernmental revenues $ - $ $ - $ 176,104 $ - $ - Fines and forfeitures 8,867 - - 650,544 47,169 Impact fees - 1,596 - - - Interest income 32 102 8 65 3,207 792 Total revenues 8,899 1,698 8 176,169 653,751 47,961 EXPENDITURES: Current: Public safety 9,478 - Capital outlay - 31,388 Debt service: Principal - - Advance refunding escrow - - Interest - - Trustee fees and other - - Total expenditures 9,478 31,388 Excess (deficiency) of revenues over expenditures (579) (29,690) OTHER FINANCING SOURCES (USES): Issuance of debt - - Transfers in - - Transfers out - - Payment to refunded bond escrow agent - - Total other financing sources (uses) - - Net change in - 88,763 - 28,071 - - 364,114 146,233 88,763 364,114 174,304 8 87,406 289,637 (126,343) - (82,250) - - (82,250) - - fund balances (579) (29,690) 8 5,156 289,637 (126,343) FUND BALANCES, beginning 12,429 35,203 2,256 24,502 711,169 230,358 FUND BALANCES, ending $ 11,850 $ 5,513 $ 2,264 $ 29,658 $ 1,000,806 $ 104,015 62 - 4,671,190 5,213,810 9,885,000 1,206,377 403,780 446,931 2,057,088 - - - (82,250) - (4,635,749) (5,174,251) (9,810,000) 1,206,377 Debt Service Funds 486,490 2,049,838 10,232 Debt Debt 155,729 1,357 Service Fund Service Fund 1,134,799 Debt Series 2012 Series 2012 1,290,528 Service Charter Charter Total Fund School School Nonmajor Series 2010 Land Building Governmental & 2011 Acquisition Construction Funds $ $ - $ - $ 176,104 - - 706,580 - - 1,596 231 4 213 4,654 231 4 213 888,934 - - 126,312 - - 541,735 650,000 - - 650,000 - 282,518 315,338 597,856 546,376 114,628 128,227 789,231 - 39,589 38,320 77,909 1,196,376 436,735 481,885 2,783,043 (1,196,145) (436,731) (481,672) (1,894,109) - 4,671,190 5,213,810 9,885,000 1,206,377 403,780 446,931 2,057,088 - - - (82,250) - (4,635,749) (5,174,251) (9,810,000) 1,206,377 439,221 486,490 2,049,838 10,232 2,490 4,818 155,729 1,357 1,000 116,525 1,134,799 $ 11,589 $ 3,490 $ 121,343 $ 1,290,528 63 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND POLICE EDUCATION FUND For the Year Ended September 30, 2012 Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) REVENUES: Fines and forfeitures $ 7,000 $ 7,000 $ 8,867 $ 1,867 Interest income - - 32 32 Total revenues 7,000 7,000 8,899 1,899 I:' "M131110 =3 Operating 11,000 19,429 9,478 9,951 Total expenditures 11,000 19,429 9,478 9,951 Excess (deficiency) of revenues over expenditures (4,000) (12,429) (579) 11,850 OTHER FINANCING SOURCES (USES): Appropriated fund balance 4,000 12,429 - (12,429) Total other financing sources (uses) 4,000 12,429 - (12,429) Net change in fund balance $ - $ - $ (579) $ (579) 64 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND POLICE CAPITAL OUTLAY IMPACT FEE FUND For the Year Ended September 30, 2012 REVENUES: Impact fees Interest income Total revenues EXPENDITURES: Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Appropriated fund balance Total other financing sources (uses) Net change in fund balance Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) $ - $ - $ 1,596 $ 1,596 - - 102 102 - - 1,698 1,698 16,557 35,203 31,388 3,815 16,557 35,203 31,388 3,815 (16,557) (35,203) (29,690) 5,513 16,557 35,203 - (35,203) 16,557 35,203 65 (35,203) $ (29,690) $ (29,690) CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND PARK DEVELOPMENT FUND For the Year Ended September 30, 2012 REVENUES: Interest income Total revenues EXPENDITURES: Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Appropriated fund balance Total other financing sources (uses) Net change in fund balance Budgeted Amounts Original Final 2,246 2,256 2,246 2,256 (2,246) (2,256) Variance with Final Budget Positive Actual (Negative) 8 $ 8 2,256 - 2,256 8 2,264 2,246 2,256 - (2,256) 2,246 2,256 - (2,256) 8 $ 8 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL SPECIAL REVENUE FUND 911 FUND For the Year Ended September 30, 2012 REVENUES: Intergovernmental revenues Interest income Total revenues EXPENDITURES: Operating Capital outlay Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Transfers out Appropriated fund balance Total other financing sources (uses) Net change in fund balance Variance with Final Budget Budgeted Amounts Positive Original Final Actual (Negative) $ 211,650 $ 211,650 $ 176,104 $ (35,546) - - 65 65 211,650 211,650 176,169 (35,481) 129,400 129,400 88,763 40,637 - 24,502 - 24,502 129,400 153,902 88,763 65,139 82,250 57,748 87,406 29,658 (82,250) (82,250) (82,250) - - 24,502 - (24,502) (82,250) (57,748) (82,250) (24,502) 67 $ - $ 5,156 $ 5,156 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2010 & 2011 For the Year Ended September 30, 2012 REVENUES: Interest income Total revenues EXPENDITURES: Debt Service: Principal Interest Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Transfers in Total other financing sources (uses) Net change in fund balance Budgeted Amounts Original Final Variance with Final Budget Positive Actual (Negative) 231 $ 231 231 231 650,000 650,000 650,000 - 557,734 557,734 546,376 11,358 1,207,734 1,207,734 1,196,376 11,358 (1,207,734) (1,207,734) (1,196,145) 11,589 1,207,734 1,207,734 1,206,377 (1,357) 1,207,734 1,207,734 1,206,377 (1,357) - $ 10,232 $ 10,232 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2000 For the Year Ended September 30, 2012 REVENUES: Interest income $ Total revenues EXPENDITURES: Debt Service: Principal Interest Total expenditures Excess (deficiency) of revenues over expenditures Budgeted Amounts Original Final Variance with Final Budget Positive Actual (Negative) 25,099 $ 25,099 25,099 25,099 310,000 310,000 310,000 - 198,465 198,465 198,072 393 508,465 508,465 508,072 393 (508,465) (508,465) (482,973) 25,492 OTHER FINANCING SOURCES (USES): Transfers in 508,465 508,465 508,465 - Total other financing sources (uses) 508,465 508,465 508,465 - Net change in fund balance $ - $ - $ 25,492 $ 25,492 .• CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2012 - CHARTER SCHOOL LAND ACQUISITION For the Year Ended September 30, 2012 REVENUES: Interest income Total revenues EXPENDITURES: Debt Service: Advance refunding escrow Interest Trustee fees and other Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Proceeds from refunding bonds Transfers in Appropriated fund balance Payment to refunded bond escrow agent Total other financing sources (uses) Net change in fund balance Budgeted Amounts Original Final Variance with Final Budget Positive Actual (Negative) 4 $ 4 167,756 167,756 282,518 (114,762) 229,524 229,524 114,628 114,896 7,500 42,941 39,589 3,352 404,780 440,221 436,735 3,486 (404,780) (440,221) (436,731) 3,490 - 4,671,190 4,671,190 - 404,780 403,780 403,780 - - 1,000 - (1,000) (4,635,749) (4,635,749) - 404,780 440,221 439,221 (1,000) $ - $ - $ 2,490 $ 2,490 70 CITY OF AVENTURA, FLORIDA SCHEDULES OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCE - BUDGET AND ACTUAL DEBT SERVICE FUND SERIES 2012 - CHARTER SCHOOL BUILDING CONSTRUCTION For the Year Ended September 30, 2012 REVENUES: Interest income $ Total revenues EXPENDITURES: Debt Service: Advance refunding escrow Interest Trustee fees and other Total expenditures Excess (deficiency) of revenues over expenditures OTHER FINANCING SOURCES (USES): Proceeds from refunding bonds Transfers in Payment to refunded bond escrow agent Total other financing sources (uses) Net change in fund balance $ Budgeted Amounts Original Final Variance with Final Budget Positive Actual (Negative) 213 $ 213 187,244 187,244 315,338 (128,094) 256,187 256,187 128,227 127,960 3,500 43,059 38,320 4,739 446,931 486,490 481,885 4,605 (446,931) (486,490) (481,672) 4,818 - 5,213,810 5,213,810 - 446,931 446,931 446,931 - - (5,174,251) (5,174,251) - 446,931 486,490 486,490 - - $ - $ 4,818 $ 4,818 71 (This page intentionally left blank.) STATISTICAL SECTION STATISTICAL SECTION This part of City of Aventura's comprehensive annual financial report presents detailed information as a context for understanding what information in the financial statements, note disclosures and required supplementary information says about the City's overall financial health. Financial Trends These schedules contain trend information to help the reader understand how the City's financial per and well -being have changed over time. Net assets by component 72 Changes in net assets 73 -74 Governmental activities tax revenues by source 75 Fund balances of governmental funds 76 Changes in fund balances of governmental funds 77 -78 General governmental tax revenues by source 79 Revenue Capacity These schedules contain information to help the reader assess the City's most significant local revenue source, the property tax. Assessed value and estimated actual assessed value of taxable property 80 Property tax rates - direct and overlapping governments 81 -82 Principal property taxpayers 83 Property tax levies and collections 84 Debt Capacity: These schedules present information to help the reader assess the affordability of the City's current levels of outstanding debt and the City's ability to issue additional debt in the future. Ratios of outstanding debt by type 85 Ratios of general bonded debt outstanding 86 Direct and overlapping governmental activity debt 87 Legal debt margin information 88 Demographic and Economic Information These schedules offer demographic and economic indicators to help the reader understand the environment within which the City's financial activities take place. Demographic and economic statistics 89 Occupational employment by group - Miami -Dade County, Florida 90 Operating Information These schedules contain service and infrastructure data to help the reader understand how the information in the City's financial report relates to the services the City provides and the activities it performs. Full -time equivalent city government employees by function Operating indicators by function Capital asset statistics by function 91 92 93 Sources: Unless otherwise indicated, information in these schedules is derived from the comprehensive annual financial reports for the respective years. rirmF� V O O H O vn on z wd�d Y�1 V N N1 0 h N M n V m M Cl moo C �0 00 00C ID o pc 10 Ic o, h r o o: N M cS W oho ai W � -�-+ N v klj O n cl NV r~ oo lo N O N O 7 V? 69 Vj 6R V3 V3 a\ oo lo 10 W oo M V 'n l oo CT 00 o o0 r N rq l� N 00 C1 O M V oo N N 'V N C, 7 O N N_ cv�� va v ��zo W h 6 ss V3 6q V3 Vf Vl r--� M M O M 00 O v1 N s 00 n OR N O V N r O O oo O V O V1 O oo M c� N Qmi oo W IR r M M a\ o O 69 V3 69 V3 6R Vf oo m oo O V or0 7 V vl D\ O 'j-V M c-4 1 r oo N O_ T U c 00 D\ kr h N V1 V V'1 N m ~ c4 r oo M V3 V3 Vi V3 VT 69 O m D\ N O O O M a\ N Oi M n M GN r P �° O N .VV. ° tVUd �" .V-i ° H oo N N �o N- D\ N--� O M M V V W S N V N -� .r t` oo ti w) M oo h M L1 6� 6� Vj 61�1 69 m N h oo N 0 o m rNV a, v oo h oov m m oo oo v No m 00 m kf) N N r N 7 N 't I- uN'1 N 00 613 V3 63 60-3 V3 69 0 �+° c N M OIn r C 0\ o0 N V' a i -- D\ 7 N l° r O --+ M oo V N O r- 1 0 V1 V N O 16 rl C V 10 lo M M O cq h V3 Vj 69 69 Vi V3 O pppp O O oo N �D 00 O 00 'o S OO S S V1 V SS7 ��C, oho ai W � -�-+ N v W O n N h NV �° V) O N h 00 N V3 V3 69 69 Vi Vi M OM 10 wm r U r-- 1� M C+ V ��}} r-� N C, 7 O N N_ V Oho O M V W W W h 603 V3 Vj 69 69 V3 Vl r--� M M O M 00 O v1 N s 00 O M O In h O O oo O V O V1 w .r 00 o0 N 00 n Cl h N M N ... -� N N b O --+ V3 V3 V3 6R 69 V3 � h 5N N N > F" h api > on , rob a z �b b b N .VV. ° tVUd �" .V-i ° H a�o�N E" o�� w�c'N O� N N Ri V Q z a y., U I� U ctl IU w V' M V' N V) V1 r 10 d' V) 8 Cl V) V) V' O N O+ N M V O �_ N 10 M 7 0 00 M 0 �D V o0 U M ' C1 M 7 N r M 00 00 N N 1D r r o0 00 O1 N c V) r V) r 00 �D N M r O O �D V r C1 00 U 00 M �D Ov 64 64 69 64 O r C, r O Cl r 00 N 00 00 �D Cl N N 00 O r O O O 00 In Cl) W � 0 r00r�o O+ r r �D rgOiO m m 00 N h rn m 000 000 o c� vp`i v'�i vri 000 C, Vii Cl V V --+ r 64 69 v3 6s V1 Cl M V) Cl) V N MC, V 00 r M O 00 lO O7N M D\ r V) M V) V1 N V1 N 00 r V t r ' N r ^� V) M r ID O .r-. 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V N 00 O) 00 O O) (.4 0\ O) Ol N 00 V) G1 M V' r 10 M V) 00 �D M O V) M V V r N N �O V r O �O r 00 g 00 O V) r O O M C1 01 M 10 00 V) r r O V N M N v N V V N N 69 69 6. 69 69 69 O1 V) 10 -+ O\ O O) 10 b r V N r 'n C. pp V O) V U 01 O pp M M M r N �O N V O N N O r V V U N h r V) r Vi X10 10 � r M M r M O) O S M O M W W Val v10l �D T r V O\ V") N O CT M M N 69 69 6R 69 6R 64 6atl � 'V" ^ c!+ N > N > > m Q « G api .. eOp F 00 n o w w v O o U y m a 0 o 0 ° y �q � y w H �F o F o z I 8 w w A o o H a W z z z p U vo o a o F a o z u CITY OF AVENTURA, FLORIDA GOVERNMENTAL ACTIVITIES TAX REVENUES BY SOURCE LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) Table 3 75 Tax Fiscal Roll Ad Valorem Utility Franchise Year Year Taxes Taxes Fees Total 2003 2002 $ 9,075,096 $ 5,397,011 $ 1,875,199 $ 16,347,306 2004 2003 10,143,246 5,460,119 2,185,155 17,788,520 2005 2004 11,842,689 5,719,554 2,330,809 19,893,052 2006 2005 14,089,388 6,015,016 3,359,261 23,463,665 2007 2006 17,127,913 6,269,809 4,234,574 27,632,296 2008 2007 15,942,020 6,741,903 4,270,671 26,954,594 2009 2008 15,189,005 7,451,872 3,644,177 26,285,054 2010 2009 13,253,848 7,362,899 3,686,885 24,303,632 2011 2010 11,734,232 7,379,830 2,684,216 21,798,278 2012 2011 11,724,189 7,772,000 3,070,065 22,566,254 75 d- Qi C� A � Z ICY ozxo 0.4 CIO w�ww O cn O oz¢� �I w O U N U V V) 00 �D N U M_ 00 O ' O 00 7 N 0 O j M r 7 000 m M V U vl V a, N N V 69 69 69 69 00 00 r- i 00 000 O'Q W N 7 'h C i i r .�. n N --' cl w M ( 00 cp� O N CD M O O N V1 W 69 69 69 64 CD j M 7 00 h O 00 M V N M N oD D D N N M M 69 69 69 69 oo cl m M 69 64 69 69 N M oo Q` 01 O N oo pp oo cl N n rn 00 I� ll� ' ' n h o - O n --' `Ci ^ Do O of of m v N N 69 64 69 69 r °o ''n oo 0 o m c- lD vii o vo m � m N cn 7 N lo V Vl r o oo N 00 m-� . c o0 cl O M M + o N N slf 69 69 69 oo of M V 'n N M S O p .�-� 000 h ' ' 00 69 69 fH 69 N h V Iq ol ' ' ' TAN-. M V 0o0 W 7 M Oci OO n h M r- V `-' o+ yo mc� m N M V 69 6R 69 69 In oo m --+ 14, O i c o0 ti 7 V O o M N O m <t oo N N V 10 64 6Y 69 64 wi o v) w) — n O V ' ' ' V oo oo '7 If) .--i o0 oo 69 64 69 69 F7 N b > b o w a w a b Lt o 71 v v al H " ° `d o aw�zUQ� °rx� on zx¢ C7 d O U N U V (This page intentionally left blank.) CITY OF AVENTURA, FLORIDA CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) Fiscal Year 2003 2004 2005 2006 REVENUES: Ad valorem taxes $ 9,075,096 $ 10,143,246 $ 11,842,689 $ 14,089,388 Utility service taxes 5,397,011 5,460,119 5,719,554 6,015,016 Franchise fees 1,875,199 2,185,155 2,330,809 3,359,261 Intergovernmental 2,965,158 7,663,308 7,263,468 10,905,885 Licenses and permits 2,185,654 2,146,913 3,335,034 3,277,960 Charges for services 965,067 1,099,321 1,598,230 1,904,741 Fines and forfeitures 399,899 351,698 472,465 601,339 Impact fees 56,609 754,954 959,264 398,436 Interest income 246,216 174,983 553,135 1,159,778 Developer contributions 30,000 85,842 - - Miscellaneous 74,436 134,768 298,875 610,584 Total revenues 23,270,345 30,200,307 34,373,523 42,322,388 EXPENDITURES: Current: General government 2,163,885 2,371,236 2,580,989 2,668,284 Public safety 9,438,156 10,594,453 12,256,346 13,781,535 Community services 4,226,979 7,495,145 7,997,769 9,019,229 Nondepartmental 1,040,052 1,292,580 1,623,794 2,978,900 Capital outlay 12,153,846 3,905,875 7,416,346 5,800,374 Debt service: Principal 595,000 900,000 930,000 965,000 Advance refunding escrow - - - - Interest 1,746, 446 1,786,797 1,753,446 1,719, 392 Trustee fees and other 73,760 28,932 28,363 25,817 Total expenditures 31,438,124 28,375,018 34,587,053 36,958,531 Excess (deficiency of revenues over expenditures) (8,167,779) 1,825,289 (213,530) 5,363,857 OTHER FINANCING SOURCES (USES): Issuance of debt - - - - Transfers in 2,379,299 3,687,963 2,821,795 2,740,850 Transfers out (1,812,262) (3,285,681) (2,718,585) (2,690,108) Payment to refunded bond escrow agent - - - - Total other financing sources (uses) 567,037 402,282 103,210 50,742 Net change in fund balances $ (7,600,742) $ 2,227,571 $ (110,320) $ 5,414,599 Debt service as a percentage of noncapital expenditures 12.14% 10.98% 9.88% 8.62% 77 Table 5 2007 2008 2009 2010 2011 2012 $ 17,127,913 $ 15,942,020 $ 15,189,005 $ 13,253,848 $ 11,734,232 $ 11,724,189 6,269,809 6,741,903 7,451,872 7,448,097 7,465,029 7,486,791 4,234,574 4,270,671 3,644,177 3,686,885 2,684,216 3,070,065 11,586,872 11,762,763 13,273,593 12,970,784 11,764,642 11,738,610 3,229,778 2,808,112 1,892,862 2,025,310 2,374,902 2,522,665 2,194,596 2,313,107 2,078,224 2,322,794 2,814,652 2,891,647 577,148 652,747 2,275,882 3,107,179 2,096,677 2,459,276 40,340 - 15,581 101 189,440 22,426 1,580,978 1,035,457 292,180 310,885 195,382 174,152 234,544 748,831 438,421 428,907 414,678 303,795 47,076,552 46,275,611 46,551,797 45,554,790 41,733,850 42,393,616 4,884,708 4,561,020 4,639,737 4,360,999 4,274,015 4,266,981 14,360,873 14,727,849 15,625,029 16,965,808 17,636,378 18,413,325 10,817,310 10,798,272 11,057,179 11,950,071 12,083,949 12,305,720 9,265,681 9,256,902 7,278,743 8,576,499 2,596,599 3,050,256 1,005,000 1,035,000 1,080,000 1,130,000 635,000 960,000 - - - 520,000 336,928 597,856 1,682,298 1,642,606 1,607,984 1,553,980 1,212,882 987,303 24,691 25,306 18,194 89,766 49,496 77,909 42,040,561 42,046,955 41,306,866 45,147,123 38,825,247 40,659,350 5,035,991 4,228,656 5,244,931 407,667 2,908,603 1,734,266 - - - 10,385,000 5,565,000 9,885,000 2,898,498 2,907,111 5,254,251 4,526,447 2,316,510 2,747,803 (2,898,498) (2,907,111) (5,254,251) (4,526,447) (2,316,510) (2,747,803) - - - (10,321,560) (5,504,006) (9,810,000) - - - 63,440 60,994 75,000 $ 5,035,991 $ 4,228,656 $ 5,244,931 $ 471,107 $ 2,969,597 $ 1,809,266 8.20% 8.17% 7.90% 7.15% 5.07% 5.11% 78 b4 N OS O IT - N W 00 . M N W M O O - N 0�- -�000OOOO�N kr 00 Q, 4 00 It O1 I.O COt-- tn O r- �kn N N 69 V) t -MwN�t -000 00 M t- ul 00 00 00 V) y O O M N tD V- Cd kn O N kn V) M 0 � M O N M N N M M O N V'1 Vl � M N U 0 b4 N OS O IT - N W 00 . M N W M O O - N 0�- -�000OOOO�N kr 00 Q, 4 00 It O1 I.O COt-- tn O r- �kn N N 69 6R id M It to �c t— 00 0% O co ^� N w� ggooggg000 t— 00 M t- ul 00 00 00 V) v y N O� .-� r cl `d •--I of M -+ w„+ �c M O1 O Vl N O V7 d- U 0 U 0\ 00 kn O� 00 t- N O1 t- �o E-1 (� yU•� ON O\ �c M It It w t- t- t- 00 �O M r-i rl 00 .-r ll: N kn l- N v- [D CO as t� O lr) V1 O In id M M � �O V7 � N ,--i O It M M rq 0 Zv,U N M N N w° ¢ �c N M It O� O N T Vl ¢ O M N rl V1 --i N [� � E��¢ �2 �OCiCN8, -r-N�0i w O\ O V'1 Q1 .--i M O M 00 00 H..y 4. L� a U �-+ �-+ �--� N N N N N N LLi L �Md 000NNONW) Vl - M �O � ID O �c C) a yam, �c O� O O\ r- •-r o0 M O� �D h (Q-1 �vv�7�� 00 ✓ W U M N N 000 0�0 O M B a a N N M c*M M N- N N N 64 W z tom =r-��w 't° ' 00 00 r- V1 t— lD llO V7 M M Vl �c N M O ct w �O�D�OOoO�Dt`t`�M O� lO N O� Vi t� 64 �O O N h 1,0 It It O t-- V) �M N W) VNl O� O 0M0 I y N [- 00 M M N V V1 00 M� 00 O\ �O M V1 00 00 00 00 CIS 6R id M It to �c t— 00 0% O co ^� N w� ggooggg000 t— C� W a O a L� ¢ w O ¢ W A a O >C/) wQW r� Wow z �¢H oQa U w A z w a A W W rn y ti UQ zzz0000Od000oo oo > a Q 69 00000 tnO�0� .--+ 00 00 kn r- tz ¢ Q Q M �D r- W.) — d O�NM000\0100 �Q daC zzz CIS � r C o��'cn� W F" > v, �o",oa,0000 O t! NNNNN — — — r -+. --i H Q O 't7 � � N y z H h cz O dM0�0 M VSO T oO r- tri cl O M r+.-+M — 0�0 Vd1 �D N N 00 O m O M 00 cl O d C 00 00 00 kn�C d0N('4 ddto cooO\O)oot- t-- V) t` 00 00 �o N kn •-• tl- M �0 0 110 — MId- WI) O�dd0 �+ IDOh11000Nd F Q¢ Q 00 Vd'1 V'1 t- V) M M aiC �i O z z O, ,-r O� --� [� Q. Vl t- O� N C\ t- N M M M �c 4n W) to 6q kn tn�_dknot�l� tf)00 000 N �o NM N dv'�Nt-�vl00�O• -+d oONddNd-+N�0[� v ��or- 0000ONON� -� N N N N N N 63 I C� 01 h (7s O M V) 0� N t- C� O� M CT t- 00 M .--i d t- r 00 00 O N M 110 �0 t- d y C) C,4 00dO)�od00N Vl N t` 00 �c M O O\ a. OknMt- Mt- WIt�Okn ddtn�o=CO 0Noot-- t` 60s H� 03 gg SggS000 Mp " ppoo00 C) C) 8 � w N� N N N N N N N N 0 z 0 00 CITY OF AVENTURA, FLORIDA PROPERTY TAX RATES DIRECT AND OVERLAPPING GOVERNMENTS (PER $ 1,000 OF TAXABLE VALUE) LAST TEN FISCAL YEARS Source: Miami -Dade County Appraiser's Office. 81 Overlapping Rates City of Aventura School District State South Florida Florida Tax Debt Total Debt Total Water Inland Total Fiscal Roll Operating Service City Operating Service School Everglades Management Navigational State Year Year Millage Millage Millage Millage Millage Millage Project District District Millage 2003 2002 2.2270 2.2270 8.4820 0.7700 9.2520 0.1000 0.5970 0.0385 0.7355 2004 2003 2.2270 2.2270 8.4180 0.6820 9.1000 0.1000 0.5970 0.0385 0.7355 2005 2004 2.2270 2.2270 8.0900 0.5970 8.6870 0.1000 0.5970 0.0385 0.7355 2006 2005 2.2270 2.2270 7.9470 0.4910 8.4380 0.1000 0.5970 0.0385 0.7355 2007 2006 2.2270 2.2270 7.6910 0.4140 8.1050 0.1000 0.5970 0.0385 0.7355 2008 2007 1.7261 1.7261 7.5700 0.3780 7.9480 0.0894 0.5346 0.0345 0.6585 2009 2008 1.7261 1.7261 7.5330 0.2640 7.7970 0.0894 0.5346 0.0345 0.6585 2010 2009 1.7261 1.7261 7.6980 0.2970 7.9950 0.0894 0.5346 0.0345 0.6585 2011 2010 1.7261 1.7261 7.8640 0.3850 8.2490 0.0894 0.5346 0.0345 0.6585 2012 2011 1.7261 1.7261 7.7650 0.2400 8.0050 0.0624 0.3739 0.0345 0.4708 Source: Miami -Dade County Appraiser's Office. 81 Table 8 82 Overlapping Rates Miami -Dade County Special Districts Total Direct Debt Total Fire Total and Operating Service County Children's and Fire District's Overlapping Millage Millage Millage Trust Rescue Debt Library Millage Rates 5.8890 0.3900 6.2790 - 2.5820 0.0790 0.4860 3.1470 21.6405 5.9690 0.2850 6.2540 0.5000 2.5820 0.0790 0.4860 3.6470 21.9635 5.9350 0.2850 6.2200 0.4442 2.5920 0.0690 0.4860 3.5912 21.4607 5.8350 0.2850 6.1200 0.4288 2.6090 0.0520 0.4860 3.5758 21.0963 5.6150 0.2850 5.9000 0.4223 2.6090 0.0420 0.4860 3.5593 20.5268 4.5796 0.2850 4.8646 0.4223 2.2067 0.0420 0.3842 3.0552 18.2524 4.8379 0.2850 5.1229 0.4212 2.1851 0.0420 0.3822 3.0305 18.3350 4.8379 0.2850 5.1229 0.5000 2.1851 0.0420 0.3822 3.1093 18.6118 5.4275 0.4450 5.8725 0.5000 2.5753 0.0200 0.2840 3.3793 19.8854 4.8050 0.2850 5.0900 0.5000 2.4496 0.0131 0.1795 3.1422 18.4341 82 a� c� Fr a) id U V. O AWE �5x �aw HW z W A way �z Val U a� w 0 cz � � b a 0 i� 0 0 0 0 a) U a, oU oU�23UU UU o > r. +) 'ti o> q qu g q w q u i.. �, x a� a� �' a� q a, a� a� a� � � W U� � y •� a� a y a. av a� H v o ; d L)dAddd 14 0 o d o o aqi 0 x — 0 U y. w 'C a It q q C7a a' ci C3 CU y _ 0. Jj > O q p¢ o a d d o a a> ,oUz o ¢UHAv�w =Za¢U � a 0 w 0 0 U b A 0 x ai 0 CIO M 00 el el b� el b� el e�A y b r 000 C0 ,n -• r � 'n o a) o E� y CO E� d a 00 O, N S S S O S S S S C:) S a> O O O ' ' ' ' U S O O O O O O N Ot "t - I� S � � O k � Cli m O ti > 00 N V) l- M 00 00 N 00 M Ic N � 64 6�3 v • -� N Oro 00 � Vr') vV11 N y kn N --+ O O O O O O O M F a N N M kn �o t- o0 0, , o N M O r- S O S S S b O M V'1 M o0 O O CN S S 00 � S �O ai �y 'Mn O\ en o0 00 —' M o- r r' o 06 v M a� w 0 cz � � b a 0 i� 0 0 0 0 a) U a, oU oU�23UU UU o > r. +) 'ti o> q qu g q w q u i.. �, x a� a� �' a� q a, a� a� a� � � W U� � y •� a� a y a. av a� H v o ; d L)dAddd 14 0 o d o o aqi 0 x — 0 U y. w 'C a It q q C7a a' ci C3 CU y _ 0. Jj > O q p¢ o a d d o a a> ,oUz o ¢UHAv�w =Za¢U � a 0 w 0 0 U b A 0 x ai 0 CIO M 00 lzt 00 a) o h lr- c�iF•F,'24 E-+ ) o U o F ° ON�DMO�OOoON-+ K v v)MNO)[-NcpM4� ° U - ° rOW')7)°NN°)[�--� . -.°�.O V)ON�OI�MN 2 r l Q U �i Q U F � � °) °) °) °) °) N a o ° U E" Q U )D � 00 l- 00 )D N N M --� Mme•- •°�Nr- [r- o�C M l- °N N Vl O N ° �c Op �c — =3 V) O N •--� , CD ON v',��o o 14 o I�NMONNC) r- w( 1 N CD•�- �0007�NN�.D 00 [- kn kn M N N a. o i- 4 NB C M ch C � �c�n )O r N C) w N W) V) O O V) k p, T a Ga ds w 0 00 op v) a) cc y ooM[�M1�00°)--+000 w m 0) 0 O tnNO)V)v) F cd y Gr °)ON 700)6 )6 MNN is p pa" o 3 � � 0008 p p p p 0_ NNNNNNNNNN C] o u c M W'� U N O z U L) pOroo 0 0 0 0 0 0 p 0 0 0 0 w�"' NNNNNNNNNN lzt 00 CITY OF AVENTURA, FLORIDA RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS Business -Type Governmental Activities Activities General Fiscal Obligation Revenue Line of Outstanding Year Bonds Bonds Credit Bonds 2003 $ - $ 38,055,000 $ - $ - 2004 - 37,155,000 - - 2005 - 36,225,000 - - 2006 - 35,260,000 - - 2007 - 34,255,000 - - 2008 - 33,220,000 - - 2009 - 32,140,000 - - 2010 - 30,815,000 - - 2011 - 30,045,000 - - 2012 - 28,805,000 - - Table 11 Total Percentage Per Primary of Personal Capita Government Income (1) (1) $ 38,055,000 4.87% $ 1,396.98 37,155,000 4.32% 1,317.23 36,225,000 3.92% 1,271.05 35,260,000 3.38% 1,197.24 34,255,000 3.09% 1,127.44 33,220,000 2.87% 1,070.09 32,140,000 2.90% 1,032.58 30,815,000 2.71% 988.26 30,045,000 * 841.05 28,805,000 * 773.52 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. (1) See the Schedule of Demographic and Economic Statistics for personal income and population data. * Information not available. 85 CITY OF AVENTURA, FLORIDA RATIOS OF GENERAL BONDED DEBT OUTSTANDING LAST TEN FISCAL YEARS Table 12 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. (1) See the Schedule of Demographic and Economic Statistics for population data. :0 Less: Ratio Net Amounts of Net Bonded Available Assessed Bonded Debt Gross in Debt Net Value of Debt to Per Fiscal Bonded Service Bonded Taxable Assessed Capita Year Debt Funds Debt Property Value (1) 2003 $ 38,055,000 $ 529,000 $ 37,526,000 $ 4,167,885,994 0.90% $ 1,377.56 2004 37,155,000 31,000 37,124,000 4,730,954,049 0.78% 1,316.13 2005 36,225,000 42,000 36,183,000 5,557,061,536 0.65% 1,269.58 2006 35,260,000 24,278 35,235,722 6,616,421,499 0.53% 1,196.42 2007 34,255,000 133,053 34,121,947 8,160,923,804 0.42% 1,123.06 2008 33,220,000 136,790 33,083,210 9,609,881,719 0.34% 1,065.69 2009 32,140,000 137,175 32,002,825 9,439,807,532 0.34% 1,028.17 2010 30,815,000 280,321 30,534,679 8,063,834,953 0.38% 979.27 2011 30,045,000 231,562 29,813,438 7,244,606,607 0.41% 834.57 2012 28,805,000 274,594 28,530,406 7,290,634,319 0.39% 766.14 Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. (1) See the Schedule of Demographic and Economic Statistics for population data. :0 CITY OF AVENTURA, FLORIDA DIRECT AND OVERLAPPING GOVERNMENTAL ACTIVITY DEBT September 30, 2012 Debt Jurisdiction Outstanding Overlapping debt: Miami -Dade Board of County Commissioners (2) $ 3,626,520,000 Miami -Dade County School Board (2) Subtotal overlapping debt Direct debt: City of Aventura Subtotal direct debt Total direct and overlapping debt Estimated Percentage Applicable to City of Aventura (1) Table 13 Estimated Share of Overlapping 1-%-U+ 3.908% $ 141,724,402 3,278,381,000 3.908% 128,119,129 6,904,901,000 269,843,531 28,805,000 100.000% 28,805,000 28,805,000 28,805,000 $ 6,933,706,000 $ 298,648,531 Notes: (1) Based on ratio of assessed taxable values obtained from the Miami -Dade County, Florida Tax Collector. (2) Source: Miami -Dade County Public Schools, Finance Department. 87 �z O O wow z�4 W � W Pq H L. DAa �a Va w 00 OD V V O M V V o O o O N N N cq r 69 64 69 64 69 p O� vl CD N 000 0°0 N N V3 69 eq N N C, SF N O V V C:) p O O m O M m 00 y N > W W a > O U O O 00 o rn 00 W rn O y p bs vq o � o 00 00 06 d b ° C, a CD U � p 8 Q y •O G .G N � 9 �bA h q p vi Oq 69 � a ¢ c°o g d F .i v H a 00 0 r N N o g o o g DD o0 q O 69 69 ,ran O O N O ° cq g ° � a ° b 5 q O p bs bs o 0 y p 0 O 7 If) � V) p° S O > a>i m g m 00 00 N � `O '� � q •� R. v 6R It 69 v o g a o q O O � h � v p •� q ° a > o > b z •.i p .° q a nn A H a 0 00 OD CITY OF AVENTURA, FLORIDA DEMOGRAPHIC AND ECONOMIC STATISTICS LAST TEN FISCAL YEARS Personal Table 15 Data sources: (1) Years are as of April 1 of each year per the University of Florida Bureau of Economics & Business Research. (2) Represents income per capita for Miami -Dade County as provided by the U.S. Department of Commerce, Bureau of Economic Analysis. (3) Florida Department of Labor, Bureau of Labor Market Information. * Information not available. 89 Income Per Capita (Amounts Personal Unemployment Fiscal Population Expressed in Income Rate Year (1) Thousands) (2) (3) 2003 27,241 $ 781,299 $ 28,681 3.6% 2004 28,207 860,003 30,489 3.3% 2005 28,500 924,227 32,429 3.7% 2006 29,451 1,042, 830 35,409 3.4% 2007 30,383 1,108,736 36,492 3.5% 2008 31,044 1,159,369 37,346 4.4% 2009 31,126 1,108,739 35,621 8.5% 2010 31,181 1,138,730 36,520 9.3% 2011 35,723 * * 8.8% 2012 37,239 * * 6.9% Data sources: (1) Years are as of April 1 of each year per the University of Florida Bureau of Economics & Business Research. (2) Represents income per capita for Miami -Dade County as provided by the U.S. Department of Commerce, Bureau of Economic Analysis. (3) Florida Department of Labor, Bureau of Labor Market Information. * Information not available. 89 CITY OF AVENTURA, FLORIDA Table 16 OCCUPATIONAL EMPLOYMENT BY GROUP - MIAMI -DADE COUNTY, FLORIDA CURRENT YEAR AND NINE YEARS AGO Fiscal Year 2012 2003 Source: Represents Metropolitan and Nonmetropolitan Area Occupational Employment for the entire Miami -Miami Beach - Kendall, Florida Metropolitan Division as provided by the U.S Department of Labor, Bureau of Labor Statistics as of May 2011. Estimates do not include self - employed workers. N /A: Information not available. .E Percentage Percentage of Total of Total Occupational Groups Employees Rank Employment Employees Rank Employment Office and administrative support 198,840 1 20.34% N/A N/A N/A Sales and related 134,200 2 13.73% N/A N/A N/A Food preparation and service related 84,980 3 8.69% N/A N/A N/A Transportation and material moving 67,720 4 6.93% N/A N/A N/A Healthcare practitioners and technical 59,200 5 6.05% N/A N/A N/A Education, training and library 51,840 6 5.30% N/A N/A N/A Business and financial operations 50,680 7 5.18% N/A N/A N/A Protective service 37,620 8 3.85% N/A N/A N/A Installation, maintenance and repair 36,470 9 3.73% N/A N/A N/A Production 34,110 10 3.49% N/A N/A N/A Building and grounds cleaning and maintenance 33,720 11 3.45% N/A N/A N/A Management 32,110 12 3.28% N/A N/A N/A Personal care and service 29,650 13 3.03% N/A N/A N/A Healthcare support 26,370 14 2.70% N/A N/A N/A Construction and extraction 23,600 15 2.41% N/A N/A N/A Computer and mathematical science 17,180 16 1.76% N/A N/A N/A Legal 15,110 17 1.55% N/A N/A N/A Arts, design, entertainment, sports and media 14,740 18 1.51% N/A N/A N/A Community and social services 11,830 19 1.21% N/A N/A N/A Architecture and engineering 10,010 20 1.02% N/A N/A N/A Life, physical and social sciences 4,000 21 0.41% N/A N/A N/A Farming, fishing and forestry 3,730 22 0.38% N/A N/A N/A Total 977,710 100.00% N/A N/A Source: Represents Metropolitan and Nonmetropolitan Area Occupational Employment for the entire Miami -Miami Beach - Kendall, Florida Metropolitan Division as provided by the U.S Department of Labor, Bureau of Labor Statistics as of May 2011. Estimates do not include self - employed workers. N /A: Information not available. .E Gar a a� b U 0 cqs U 0 V) 0 a 000 °M° °O 0 � O Zo oq w Q 00 M kr) 00 w O N 0 000 (1) O O Z N z C)M °°` � o w o r� W N 000 M OWLn vUi M O V'1 O N L W w N 00 M C� IT ZO N r tin -r-+ N Ova E-, N r M d N � [� M en W O E'y i w o ~ N Gar a a� b U 0 cqs U 0 V) 0 a 0 a� Zo oq w w Gar a a� b U 0 cqs U 0 V) 0 00 o oo oo t- o N v M kn o r w) v c v o ar- N N g, oo rn N N N N N CLL� N C� 8 l� O r .--i 000 V V OOi . -. r N M cN N N O O N N M M v1 cl oo O M V 7 oo D\ O M W Obi .Mr 000 N O N cM O N N O M •--� V to N V N M N N N o\ r N N Nr oo r- O OM M c � ,�-i M O --� oo •-+ O N ? N N O M N N •-+ M oA O N M N O cq N Z lo 0o It o0 = N N o m c� o o oc oo v v o 0 N av rn oo N N b V M N O S M N Do A► OrT�rT ^ vl to oo O h N G, oo h w F+M Q W V �0 7 V7 o0 O o� cl t� � N o0 c� [� N oo N .r �p V N N F+•1 O N M .M-i z M Z O S rT l r \ w c7l O� N oo d z z oo Q+ oo N N h oo c� 8 E y o cam, m m cM vNi' '. o cq n [� � •-� N N �D •--� M D\ M Q 7 00 O U W N a O ON Mp n n^ S O S V1 O p 0o W 18 O� O V' ll --� N •-� M •--� N l� M Q M N Z M ON U N M V [� V M n N oo w cq oo z U y 0. b � 3 B o o .� �. o oo zc�¢Fav¢ CUp7aw°UO w �a Fr � U � o > d o q id .d UG 94 V) h U two f� IA 07 Cz ice+ CC to Cz O i-i h '+y iG Q) h Q1 b U � co ~ cz CZ aQi G L CO aj C) Q a� cl Cq U W U � o z iv O\ '. N W') O (14 M M .-. — N 0 kr) � C� O N W) O N M lr� N O — 00 N O O N M --� N v1 O N M N V 00 h O M � N --� N v') O N M N .-i .-. kr) Ch O M N z -+ N kn O N M N N W 'r O 00 0 O N F�1 u O �--� M N �--� �Y V7 V7 S o M z--� N �' O •-+ M N V1 O N 1 Vl ~ d U � O N w a d � OOH' Z U O N U N � C� cz p N i-� � U � �G U co b c� coys7�� wC, y 3 w h p y O y - o ❑ .a N a a a U F o z w M O� COMPLIANCE SECTION Keefe, Certified Public Accountants INDEPENDENT AUDITORS' REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Honorable Mayor Members of the City Commission and City Manager City of Aventura, Florida We have audited the financial statements of the governmental activities, the business -type activities, each major fund, and the aggregate remaining fund information of the City of Aventura, Florida (the "City "), as of and for the year ended September 30, 2012, which collectively comprise the City's basic financial statements and have issued our report thereon dated February 19, 2013. Our report includes a reference to other auditors. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Other auditors audited the financial statements of the City of Aventura Police Officers' Retirement Plan Pension Trust Fund, as described in our report on the City's financial statements. This report does not include the results of the other auditors' testing of internal control over financial reporting or compliance and other matters that are reported on separately by those auditors. Internal Control over Financial Reporting Management of the City of Aventura, Florida is responsible for establishing and maintaining effective internal control over financial reporting. In planning and performing our audit, we considered the City's internal control over financial reporting as a basis for designing our auditing procedures for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the City's internal control over financial reporting. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity's financial statements will not be prevented, or detected and corrected on a timely basis. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. We did not identify any deficiencies in internal control over financial reporting that we consider to be material weaknesses, as defined above. 6550 N. Federal Highway X Suite 410 A Fort Lauderdale, FL 33308 954.771.0896 954338.9353 (F) 0 www.kmccpa.com •, City of Aventura, Florida Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's financial statements are free of material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. This report is intended solely for the information and use of City management, members of the City Commission, Federal and state awarding agencies, and the Auditor General of the State of Florida, and is not intended to be and should not be used by anyone other than these specified parties. Fort Lauderdale, Florida February 19, 2013 95 kq',�c (!"614 & c., «P KEEFE, McCULLOUGH & CO., LLP InKeefe, McCullough & Co., LLP Certified Public Accountants INDEPENDENT AUDITORS' REPORT ON COMPLIANCE WITH REQUIREMENTS THAT COULD HAVE A DIRECT AND MATERIAL EFFECT ON EACH MAJOR PROGRAM AND ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A -133 To the Honorable Mayor Members of the City Commission and City Manager City of Aventura, Florida Compliance We have audited the compliance of the City of Aventura, Florida (the "City ") with the types of compliance requirements described in the OMB Circular A -133 Compliance Supplement that could have a direct and material effect on the City's major Federal program for the year ended September 30, 2012. The City's major Federal program is identified in the summary of auditors' results section of the accompanying Schedule of Findings and Questioned Costs. Compliance with the requirements of laws, regulations, contracts and grant agreements applicable to its major Federal program is the responsibility of the City's management. Our responsibility is to express an opinion on the City's compliance based on our audit. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A- 133, Audits of States, Local Governments, and Non -Profit Organizations. Those standards and OMB Circular A -133, require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major Federal program occurred. An audit includes examining, on a test basis, evidence about the City's compliance with those requirements and performing such other procedures as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion. Our audit does not provide a legal determination on the City's compliance with those requirements. In our opinion, the City complied, in all material respects, with the compliance requirements referred to above that could have a direct and material effect on its major Federal program for the year ended September 30, 2012. Internal Control over Compliance Management of the City is responsible for establishing and maintaining effective internal control over compliance with the requirements of laws, regulations, contracts and grants applicable to Federal programs. In planning and performing our audit, we considered the City's internal control over compliance with the requirements that could have a direct and material effect on a major Federal program in order to determine the auditing procedures for the purpose of expressing our opinion on compliance and to test and report on internal control over compliance in accordance with OMB Circular A -133, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the City's internal control over compliance. 6550 N. Federal Highway N Suite 410 A Fort Lauderdale, FL 33308 0 954.771.0896 9 954338:9353 (F ) lk www.kmccpa.com a City of Aventura, Florida A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, noncompliance with a type of compliance requirement of a Federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a Federal program will not be prevented, or detected and corrected, on a timely basis. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control that might be deficiencies, significant deficiencies or material weaknesses in internal control over compliance. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. This report is intended solely for the information and use of City management, members of the City Commission, Federal and state awarding agencies, and is not intended and should not be used by anyone other than these specified parties. Fort Lauderdale, Florida February 19, 2013 97 Kee�e, 7/AcctdIO4 & CO., «-7' KEEFE, McCULLOUGH & CO., LLP im Certified Public Accountants • • i INDEPENDENT AUDITORS' REPORT TO CITY MANAGEMENT To the Honorable Mayor Members of the City Commission and City Manager City of Aventura, Florida We have audited the basic financial statements of City of Aventura, Florida (the "City "), as of and for the year ended September 30, 2012, and have issued our report thereon dated February 19, 2013. We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States; and OMB Circular A -133, Audits of States, Local Governments, and Non - Profit Organizations. We have issued our Independent Auditors' Report on Internal Control over Financial Reporting and Compliance and Other Matters Based on an Audit of the Financial Statements Performed in Accordance With Government Auditing Standards, Independent Auditors' Report on Compliance With Requirements That Could Have a Direct and Material Effect on Each Major Federal Program and on Internal Control over Compliance in Accordance with OMB Circular A -133, and Schedule of Findings and Questioned Costs. Disclosures in those reports and schedule, which is dated February 19, 2013, should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with the provisions of Chapter 10.550, Rules of the Auditor General, which govern the conduct of local governmental entity audits performed in the State of Florida. This letter includes the following information, which is not included in the aforementioned auditors' reports. Section 10.554(1)(i)l., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no recommendations made in the preceding annual financial report. Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit, we determined that the City complied with Section 218.415, Florida Statutes. Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit, we did not have any such recommendations. Section 10.554(1)(i)4., Rules of the Auditor General, requires that we address violations of provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but more than inconsequential. In connection with our audit, we did not have any such findings. 6550 N. Federal Highway 0 Suite 410 N Fort Lauderdale, FL 33308 & 954.771.0896 0 954:938.9353 (F) V www.kmccpa.com •.17 City of Aventura, Florida Section 10.554(1)(i)5., Rules of the Auditor General, provides that the auditor may, based on professional judgment, report the following matters that have an inconsequential effect on financial statements, considering both quantitative and qualitative factors: (1) violations of provisions of contracts or grant agreements, fraud, illegal acts, or abuse and (2) deficiencies in internal control that are not significant deficiencies. In connection with our audit, we did not have any such findings. Section 10.554(1)(i)6., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in this management letter, unless disclosed in the notes to the financial statements. The information is disclosed in Note 1 to the financial statements. Section 10.554(1)(i)7.a., Rules of the Auditor General, requires a statement be included as to whether or not the local governmental entity has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit, we determined that the City did not meet any of the conditions described in Section 218.503(1), Florida Statutes. Section 10.554(1)(i)7.b., Rules of the Auditor General, requires that we determine whether the annual financial report for the City for the fiscal year ended September 30, 2012, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2012. In connection with our audit, we determined that these two reports were in agreement. Pursuant to Sections 10.554(1)(i)7.c. and 10.556(7), Rules of the Auditor General, we applied financial condition assessment procedures. It is management's responsibility to monitor the City's financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. Our management letter is intended solely for the information and use of the Legislative Auditing Committee, members of the Florida Senate and the Florida House of Representatives, the Florida Auditor General, Federal and other granting agencies, and applicable management, and is not intended to be and should not be used by anyone other than these specified parties. Fort Lauderdale, Florida February 19, 2013 .. KEEFE, McCULLOUGH & CO., LLP d 0 N w O A M ww� w� �a W ~ � �Qw dw� How vaw A w U � W � �a 0 w �w a o U � O O j O b O -� O b �� + ;-4 W P-4 CO 0o a �o j �o �' uo ° b H � oAa U ACo-) o � Q a� A� o� o w Z GO) �, H �, o° „ 0 0 �, 0° �, o b vn +--� r.+ Cd '� +M+ `� C7 H vs °U V] 4� ; i � b � `� � -c3 � � b 3 3 [in � as �F:d UD vDWd �aWd A A' ; ; Qu p o Q, o A o , o W � AQ w 0 00 :a o o 0 Uz 4 1--o a� c' H H � Ul fA- v 00 00 0000 O Cl N •-+ �!1 l� 00 O w yg b4 H O � � .O O N � o a z � d H 0.4 M u 00 O i O � W � �a 0 w �w a o U � O O j O b O -� O b �� + ;-4 W P-4 CO 0o a �o j �o �' uo ° b H � oAa U ACo-) o � Q a� A� o� o w Z GO) �, H �, o° „ 0 0 �, 0° �, o b vn +--� r.+ Cd '� +M+ `� C7 H vs °U V] 4� ; i � b � `� � -c3 � � b 3 3 [in � as �F:d UD vDWd �aWd A A' ; ; Qu p o Q, o A o , o W � AQ w 0 00 o o 0 Uz 4 1--o � W � �a 0 w �w a o U � O O j O b O -� O b �� + ;-4 W P-4 CO 0o a �o j �o �' uo ° b H � oAa U ACo-) o � Q a� A� o� o w Z GO) �, H �, o° „ 0 0 �, 0° �, o b vn +--� r.+ Cd '� +M+ `� C7 H vs °U V] 4� ; i � b � `� � -c3 � � b 3 3 [in � as �F:d UD vDWd �aWd A A' ; ; Qu p o Q, o A o , o W � AQ w 0 CITY OF AVENTURA, FLORIDA NOTES TO SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS September 30, 2012 NOTE 1 - BASIS OF PRESENTATION The accompanying Schedule of Expenditures of Federal Awards includes the grant activity of the City and is presented on the accrual basis of accounting. The information in this schedule is presented in accordance with the requirements of OMB Circular A -133, Audits of States, Local Governments and Non - Profit Organizations. Therefore, some amounts presented in this schedule may differ from amounts presented in or used in the preparation of the basic financial statements. NOTE 2 - CONTINGENCY The grant revenue amounts received are subject to audit and adjustment. If any expenditures or expenses are disallowed by the grantor agencies as a result of such an audit, any claim for reimbursement to the grantor agencies would become a liability of the City of Aventura, Florida. In the opinion of management, all grant expenditures are in compliance with the terms of the grant agreements and applicable federal and state laws and regulations. NOTE 3 - CATALOG OF FEDERAL DOMESTIC ASSISTANCE Complete Catalog of Federal Domestic Assistance ( "CFDA ") numbers are presented for those programs for which such numbers were available. CFDA prefixes are presented for programs for which a complete CFDA number is not available. 101 CITY OF AVENTURA, FLORIDA SCHEDULE OF FINDINGS AND QUESTIONED COSTS For the Year Ended September 30, 2012 A. SUMMARY OF AUDITORS' RESULTS 1. The auditors' report expresses an unqualified opinion on the basic financial statements. 2. No material weaknesses relating to the audit of the basic financial statements are reported in the Independent Auditors' Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards. 3. No instances of noncompliance material to the basic financial statements of City of Aventura, Florida, were disclosed during the audit. 4. No material weaknesses relating to the audit of the major Federal program are reported in the Independent Auditors' Report on Compliance with Requirements That Could Have a Direct and Material Effect on Each Major Program and on Internal Control over Compliance in Accordance with OMB Circular A -133. 5. The auditors' report on compliance for the major Federal program for City of Aventura, Florida expresses an unqualified opinion. 6. No audit findings relative to the major Federal program for City of Aventura, Florida are reported in Part C of this schedule. 7. The program tested as major program is as follows: Federal Program: United States Department of Justice Equitable Sharing Program Federal CFDA No. 16.922 8. The threshold for distinguishing Types A and B programs was $ 300,000 for the major Federal programs. 9. City of Aventura, Florida was not determined to be a low -risk auditee pursuant to OMB Circular A -133. B. FINDINGS - FINANCIAL STATEMENT AUDIT NONE C. FINDINGS AND QUESTIONED COSTS - MAJOR FEDERAL PROGRAM NONE D. OTHER ISSUES No Summary Schedule of Prior Audit Findings for Federal Awards is required because there were no prior audit findings related to Federal programs. No Corrective Action Plan is required because there were no findings required to be reported under the Federal Single Audit Act. 102 (This page intentionally left blank.) CITY OF AVENTURA COMMUNITY DEVELOPMENT DEPARTMENT MEMORANDUM TO: City Commission FROM: Eric M. Soroka, IC J -CM City Manager BY: Joanne Carr, AIC Community Develop t rector DATE: February 14, 2013 SUBJECT: Request of Public Storage, Inc., for (1) Conditional Use approval to permit a self - service storage facility in the MO (Medical Office) zoning district and (2) Variances to facilitate the redevelopment of the existing self- storage facility, for property located at 21288 Biscayne Boulevard, Aventura (01- CU-13 and 02- VAR -13) March 5, 2013 City Commission Meeting Agenda Item (04 RECOMMENDATION It is recommended that the City Commission: 1. Approve the request for Conditional Use approval pursuant to Section 31- 144(f)(2)j. of the City's Land Development Regulations to permit a self - service storage facility in the MO (Medical Office) District; and 2. Approve the request for Variance from Section 31- 144(f)(4)d.3. of the City's Land Development Regulations to permit 29.7% open space, where a minimum of 33% open space is required by Code; and 3. Approve the request for Variance from Section 31- 144(f)(4)c. of the City's Land Development Regulations to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by Code for the redevelopment of the Public Storage facility at 21288 Biscayne Boulevard, City of Aventura, with the following conditions: 1. The applicant shall obtain building permits for the proposed development within 12 months of the date of the approving resolution, failing which this approval shall be void. The applicant may request one six month extension of time to obtain building permits and the City Commission may, by resolution or motion, grant such extension of time upon showing of good cause by the applicant. 2. Plans shall substantially comply with those submitted, as follows: • "Public Storage ", Cover /Location /Index, Sheet C -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", ALTA/ACSM Land Title Survey, Sheet 1 of 2, prepared by Michael E. Petulla, P.L.S., dated 8/17/2012 • "Public Storage ", ALTA/ACSM Land Title Survey, Sheet 2 of 2, prepared by Michael E. Petulla, P.L.S., dated 8/17/2012 • "Public Storage ", Conceptual Site Plan, Sheet SP -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 1/25/13, signed and sealed 2/4/2013. • "Public Storage ", Ground Floor Plan, Sheet A -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", 2nd Floor Plan, Sheet A -2, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", 3rd and 4th Floor Plan, Sheet A -3, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Roof Plan, Sheet A -4, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Elevation Plan, Sheet A -5, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", West Elevation - Rear 1 -Story Building Plan, Sheet A -6, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Overall Site Plan, Sheet C -1, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Layout Plan, Sheet C -2, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Paving, Grading and Drainage Plan "A ", Sheet C -3, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Paving, Grading and Drainage Plan "B ", Sheet C -4, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Site Details, C -5, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Drainage Details, C -6, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. i•: • "Public Storage ", Landscape Site Plan, Sheet LP -1, prepared by Mariano Corral, Landscape Architect, dated 9/5/2012, revised 2/6/2013, signed and sealed 2/6/2013, approved as noted. • "Public Storage ", Specifications and Details, Sheet LP -2, prepared by Mariano Corral, Landscape Architect, dated 9/5/2012, revised 2/6/2013, signed and sealed 2/6/2013. 3. Any discontinuation of the approved conditional use for a period of 180 consecutive days shall constitute abandonment and shall rescind the approval of the conditional use. 4. Prior to issuance of a building permit for the proposed development, the applicant shall provide to the City a recorded copy of a Unity of Title, in form satisfactory to the City Manager and City Attorney, to combine the two parcels comprising this development. THE REQUESTS The applicant, Public Storage, is requesting the following: 1. Conditional Use approval pursuant Section 31- 144(f)(2)j. of the City's Land Development Regulations to permit a self - service storage facility in the MO (Medical Office) District; and 2. Variance from Section 31- 144(f)(4)d.3. of the City's Land Development Regulations to permit 29.7% open space, where a minimum of 33% open space is required by Code; and 3. Variance from Section 31- 144(f)(4)c. of the City's Land Development Regulations to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by Code for property located at 21288 Biscayne Boulevard, City of Aventura (See Exhibit #1 for Letter of Intent) BACKGROUND OWNER OF PROPERTY APPLICANT ADDRESS OF PROPERTY Public Storage Public Storage 21288 Biscayne Boulevard See Exhibit #2 for Location Plan and Exhibit #3 for Aerial Photograph LEGAL DESCRIPTION See Exhibit #4 for Legal Description 3 EXISTING ZONING FUTURE LAND USE DESIGNATION Zoning — Subject property: Property to the North: Property to the South Property to the West: Property to the East: Existing Use — Subject property: Property to the North: Property to the South Property to the West: Property to the East: MO, Medical Office District Business and Office MO Medical Office District MO Medical Office District MO Medical Office District MO Medical Office District B2 Community Business District Self- service storage Facility Self- service storage Facility & Vacant Land Medical Office Buildings Nursing Home Retail Plaza Future Land Use Designation - According to the City of Aventura Comprehensive Plan, the following properties are currently designated as follows: Subject property: Business and Office Property to the North: Business and Office Property to the South: Business and Office Property to the East: Business and Office Property to the West: Business and Office The Site - The subject site is located on the west side of Biscayne Boulevard, between NE 212 and NE 213 Street, with municipal address of 21288 Biscayne Boulevard. The Project — The applicant has submitted an application for Administrative Site Plan Approval to redevelop the existing public self - service storage facility built in the early 1980s. The existing facility consists of 10 1 -story storage buildings and 10 parking spaces. The redevelopment proposed is demolition of five (5) of the existing 1 -story buildings, construction of a new 4 -story building at the easterly portion of the site, new parking areas with 35 parking spaces and 4 new loading spaces and new landscaped areas. The existing entrance and exit driveways on Biscayne Boulevard are proposed to remain in the current location. Existing barbed wire along the top of the perimeter concrete walls will be replaced with a new picket fence. The rear fagade of the most easterly 1 -story building which faces NE 29 Avenue will be redesigned with new moldings to break up the expanse of stucco. The 20 foot rear yard setback area on NE 29 Avenue, which is currently dirt and some sparse vegetation, will be replanted with sod, hedge and trees. 4 ANALYSIS Citizen Comments — As of the date of writing of this report, the Community Development Department has received no written citizen comments about this application. Community Development Department Analysis — The property is located in the MO (Medical Office) District. Although the self - service storage facility is existing on site, it was built prior to adoption of the City's Land Development Regulations and is considered a lawful non - conforming use. The proposed redevelopment of the facility triggers the need for compliance with the City's Land Development Regulations, which require conditional use approval for a self - service storage facility in this zoning district. The plan, as proposed, also requires approval of variances to permit reduced open space and a reduced rear yard setback. Request #1: Conditional Use approval pursuant to Section 31- 144(f)(2)i. to permit a self - service storage facility in the MO (Medical Office) district. The Medical Office zoning district permits self- storage facilities with a minimum of 1.5 acres, following conditional use approval. This site contains approximately 4.55 acres. Criteria The guidelines for approval of conditional uses as required by Section 31 -73(c) of the City's Land Development Regulation states: "General Standards of review. In addition to the standards set forth in these LDRs for the particular use, all proposed conditional uses shall meet each of the following standards:" (a) The proposed use shall be consistent with the comprehensive plan. The proposed use is consistent with the goals and objectives of the Comprehensive Plan. The future land use designation for this property is Business and Office. The intent of the Business and Office land use designation is described in the Future Use Element of the City's Comprehensive Plan. This category is intended to accommodate the full range of sales and service activities in our City. A self - service storage facility is a service that may be contemplated by this land use category. (b) The establishment, maintenance or operation of the proposed use shall not be detrimental to or endanger the public health, safety or general welfare. The establishment, maintenance or operation of the proposed redevelopment of the existing self - service storage facility will not be detrimental to or endanger the public health, safety or general welfare. The facility has existed on this site since the early 1980s. Water, sewer and stormwater management will be provided to the site as 5 detailed on the approved plans. The entrance and exit drives onto Biscayne Boulevard will remain in their existing locations. Additional landscaped areas will be constructed. (c) The proposed use shall be consistent with the community character of the immediate neighborhood of the proposed use. The proposed use is consistent with the community character of the immediate neighborhood. To the north is an existing self - service storage facility. To the south are medical office buildings. To the west is an existing nursing home and to the east is an existing retail plaza. Aesthetically, the new 4 -story self - service storage building will resemble other office buildings in the immediate vicinity. (d) Utilities, roadway capacity, drainage and other necessary public facilities, including police, fire and emergency services, shall exist at the City's adopted levels of service, or will be available concurrent with demand as provided for in the requirements of these LDRs. Utilities, roadway capacity, drainage and other necessary public facilities, including police, fire and emergency services, either exist at the City's adopted levels of service or will be available concurrent with demand. (e) Adequate measures exist or shall be taken to provide ingress and egress to the proposed use in a manner that minimizes traffic congestion in the public streets. Adequate measures exist to provide ingress and egress to the proposed use in a manner that minimizes traffic congestion in the public streets. The proposed redevelopment of the site will not result in a change to existing ingress and egress. (t) The establishment of the conditional use shall not impede the development of surrounding properties for uses permitted in the zoning district. The establishment of the conditional use will not impede the development of surrounding properties for uses permitted in the zoning district. (g) The design of the proposed use shall minimize adverse effects, including visual impacts, of the proposed use on adjacent property through the use of building orientation, setbacks, buffers, landscaping and other design criteria. The proposed 4 -story self - service storage building has been designed to resemble an office building. New landscaping is proposed along the Biscayne Boulevard frontage of the site, within the interior of the site and along the rear setback area on NE 29 Avenue. All rooftop mechanical equipment will be screened from view of the public right of way and other properties. The rear of the existing 1 -story self - service storage building on NE 29 Avenue will have fagade enhancements to improve the aesthetics along that street frontage. Request #2: Variance from Section 31- 144(4)d.3. of the City's Land Development Regulations to permit 29.7% open space, where a minimum of 33% open space is required by Code. The existing 1 -story self - service storage facility contains approximately 17.8% open space and was built prior to adoption of the City's Land Development Regulations. The proposed redevelopment requires compliance with all sections of the City Code. Although the proposed plan increases open space from 17.8 %, or 35,119 square feet to 29.7 %, or 58,853 square feet, a minimum of 33% is required by Code. The applicant has requested variance from this site development criterion. Criteria The guidelines for approval of variances as required by Section 31 -76(e) of the City's Land Development Regulation states: "Standards of review. A variance shall be granted only where competent and substantial evidence presented in the particular case shows that all of the following are met. (1) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the particular physical condition of the specific property necessitates the request for variance, that is, the existing buildings on site. The applicant further advises that there is a substantial overall increase in the amount of open space on site as a result of the redevelopment, however, the built condition of the westerly portion of the site results in the hardship. (2) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The conditions are unique to this site and would not be generally applicable to other locations. (3) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and has not been deliberately created by the applicant. (4) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. 7 The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The overall redevelopment will be a benefit to the public by replacement of a 1980s style building with a building that will be compatible in design with other office buildings in the immediate vicinity. (5) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The proposed variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety, or substantially diminish or impair property values within the vicinity. The existing ingress and egress will be retained. The demolition of buildings constructed in the early 1980s and construction of a building with modern design and increased landscaping on site will be a benefit to other properties within the vicinity. Request #3: Variance from Section 31- 144(fl(4)c. of the City's Land Development Regulations to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by Code. The rear yard setback for this property occurs at its easterly boundary adjacent to NE 29 Avenue. One of the existing 1 -story self - service storage buildings is set back 20 feet from the easterly property limit. The proposed redevelopment requires compliance with all sections of the City Code. A minimum 25 foot wide rear yard setback is required in the Medical Office zoning district. The applicant has requested variance from this site development criterion. Criteria The guidelines for approval of variances as required by Section 31 -76(e) of the City's Land Development Regulation states: "Standards of review. A variance shall be granted only where competent and substantial evidence presented in the particular case shows that all of the following are met. (1) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the particular physical condition of the specific property necessitates the request for variance, that is, the existing most easterly self - service storage building is setback 20 feet from the property boundary. This L-11 existing condition results in the hardship. The applicant further advises that this most easterly building forms the wall serving as the security feature for the rear of the site. (2) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The conditions are unique to this site and would not be generally applicable to other locations. (3) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and has not been deliberately created by the applicant. (4) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The applicant has submitted plans showing fagade improvements to the easterly face of the building and landscape improvements consisting of sod, hedges and trees in this setback area. (5) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The proposed variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety, or substantially diminish or impair property values within the vicinity. The existing building fagade forming this rear yard setback will be improved with moldings and painting. The 20 foot wide setback area will be landscaped with sod, hedges and trees. E BERCOW RADGLL & FERNANDEZ ZONINf3, LAND USE AND ENVIRONMENTAL LAW Direct: 305- 377 -6230 E -Mail: MRadellabrzoninalaw.com December 7, 2012 VIA HAND- DELIVERY Ms. Joanne Carr Community Development Director City of Aventura 19200 West Country Club Drive, 4th Floor Aventura, FL 33180 RE: Application by Public Storage, Inc. Dear Joanne: commuNmy bML60mtkt CITY OF "ENTURA D C; 10 212 s A IN This shall serve as the letter of intent that accompanies an application by Public Storage, Inc. requesting conditional use approval, a non -use variance of new setback, and a non -use variance of open space concerning its property located at 21235 Biscayne Boulevard. Public Storage has an existing "first generation" self storage facility at this location which it seeks to upgrade with an attractive and modern self storage building. As we discussed, the existing facilities are grandfathered as legal non - conforming uses as a result of the rezoning of all of the property in this area to the Medical Office zoning district shortly after the City of Aventura was incorporated. The proposed redevelopment of the property would involve the demolition of four buildings and the construction of a modern four -story self storage facility. We believe that this proposed redevelopment of the site with a modern building is reasonable and appropriate. This process has allowed Public Storage's architects to collaborate with the City's professional staff in order to develop a site plan that will be an asset to the community and compatible with streetscape along this section of Biscayne Boulevard. In addition, the existing storage facility operated by Public Storage includes a number of tenants related to medical use including medical suppliers, hospitals and physicians as well as many businesses and residents of the City Aventura. We believe that the proposed site plan will be compatible with the surrounding business and EXHIBIT #1 . 0 SOUTHEAST FINANCIAL CENTER • 200 SOUTH BISCAYNE BOULEVARD, SUITE 650 • MIAMI, FLORIDA 33131 PHONE. 305.374.5300 • FAX. 305.377.6222 • WWW.BRZONINGLAW.COM Ms. Joanne Carr December 7, 2012 Page 2 medical office uses, and will be a complementary use in the Medical Office zoning district. The non use variances that are being requested are the result of the redevelopment of half of this property. The amount of landscaped open space that is being provided on the east half of the property exceeds that which is required by Code, and the result is a substantial overall increase in open space. The rear setback variance is the result of an existing building that is being retained. Please do not hesitate to call me if you have any questions or need additional information. MR/ ah cc: Jim Fitzpatrick, Public Storage Gus Carbonell BCRCOW RADGLL & FERNAN DEZ ZONING. LAND USE ANO ENVIRONMENTAL LAW LEGAL DESCRIPTION OF PROPERTY PARCEL #1 Being a portion of the SW' /4 of the NE % of the NW % and SE'/ of the NE % of the NW % of Section 34, Township 51 South, Range 42 East, Dade County, Florida, as follows: Beginning at a point on the west line of said SW % of NE '/4 of NW '/4 located 273 feet north of the southwest corner of said SW %; Thence Run easterly parallel to and 272.948 feet north of the south line of said SW % and SE % 793.84 feet to the westerly right of way line of Federal Highway U.S. No. 1; Thence Run northeasterly along said right of way 100 feet; Thence Run westerly parallel to and 363.91 feet north of the south line of said SW '/4 and SE '/4 837.29 feet to the said west line of SW Y4; Thence Run southerly along said west line 90.98 feet to the point of beginning. PARCEL #2 That parts of Lots 3 and 4, Block 3 of Hallandale, lying westerly of the right of way of State Road #4, according to the plat thereof recorded in Plat Book "B ", at Page 13 of the Public Records of Dade County, Florida, more particularly described as follows: Beginning at a point on the westerly boundary line of Lot 3, Block 3, said point being 150.05 feet south of the northwest corner of said Lot 3, Block 3; Run Thence easterly on the line parallel to the south line of said Lots 3 and 4, a distance of 908.47 feet to a point being on the westerly line of State Road #4 or Federal Highway U.S. #1; Thence Run in a southwesterly direction on the westerly line of State Road #4 a distance of 163.80 feet to a point; Thence Run along a line deflecting to the right 114 031'49" said line being parallel to the south line of said Lots 3 and 4, Block 3, a distance of 837.29 feet to a point; Thence along a line deflecting 91 013'03 ", to the right along the westerly line of Lot 3, Block 3, a distance of 149.05 feet to the point of beginning. EXHIBIT 01-CLI-13 . 2V , ' `` ,i APPLICANT REPRESENTATIVE AFFIDAVIT Pursuant to Section 31- 71(b)(2)(i) of the City of Aventura land Development Code, this Applicant Representative Affidevil is hereby made and submitted. The undersigned authorized representative of the individual or entity applying for the Development Permit, which is identified ill the avompanying arA,tication. and the owner of the property subject to the application (if different) hereby lists and identifies all persons representing the individual or entity applying for the Development Permit in connection with the application, as follows: Name Relationship (i.e. Attomeys. Architects. t andscape Architects, Engineers, Lobbyists, Etc.) Michael Radell Attorney Nelson prtiz,(Consuj.tincr ,-- �- -_� --� _— - - Engineering Science,Inc. Engineer Michael E. Petulla Surveyor Gustavo J. Carbonell Architect Mariano Corral Landscape Architect (Attach Additional Sheets H Necessary) NOTICE: ANY STATEMENT OR REPRESENTATION MADE BY ANY PERSON LISTED ON THE APPLICANT REPRESENTATIVE AFFIDAVIT SHALL BE BINDING UPON THE INDIVIDUAL OR ENTITY APPLYING FOR THE DEVELOPMENT PERMIT AND THE OWNER OF THE SUBJECT PROPERTY. APPLICANTS AND AFFIANTS ARE ADVISED TO TIMELY SUPPLEMENT THIS AFFIDAVIT PURSUANT TO SEC. 31.71(B)(2)(M OF THE CITY'S LAND DEVELOPMENT REGULATIONS IN THE CITY CODE, IN THE EVENT THAT PRIOR TO CONSIDERATION OF THE APPLICATION BY THE CITY BOARD OR COMMISSION, THE INFORMATION PROVIDED IN THE AFFIDAVIT BECOMES INCORRECT OR INCOMPLETE. WITNESS My HAND TH•.S __ DAY OF AUTHORIZED REPRESENTATIVE OF APPLICANT. (Signature) Name: __.�_� (Prinl) ... Tillei _ ^..._._ Address: CA,t -eAtr", STATE OF Ft6 A ) COUNTY OF MIA ;.-D � 200_ OWNER � io 8X - _. (Signature) Name:.,,.,i i( Fi pa.tr.is-k Vice President TiOe:,.._.__ Address: Public Storage 701 Western Avenue Glendale, CA 91201 Before me the undersigned authority personally appeared . JIM %tTZF?r -1 c as the aulhorized representative of the Applicant andfor the owner of the preperty subject to the application, who being first by me duly wear or affirm that hefshe executed this Affidavit for the purposes stated therein and that it is true and correct. AFFIA T SWORN TO AND SUBSCRIBED BEFORE ME this3(.(day of .JA- .. 2(16 i3 MEREDITH A. ALLEN Public of ware Commission # 1885701 Printed Name of NotaiT 14 z: �m Notary Public California z My commission expires: Lt _i.. Los Angeles County D My Comm. Expires Apr 18, 2014 t£. APPLICANT REPRESENTATIVE AFFIDAVIT Pursuant to Section 31.71(b)(7.)0) of the Cily of Aventura land Devetooment Code, this Applicant Representative Affidavit is hereby made and submitted. The undersigned authorized representative of the individual or entity applying for the Development Permit, which is idenRied in the accompanying application. and the owner of the property subject to the application (if different) hereby lists and identifies all persons representing the individual or errily applying for the Development Permit in connection with the application, as follows: Name Relationship (i.e. Attorneys. Architects. landscape Architects, Engineers, Lobbyists, Etc.) M:ic>>ael Radell Attorney Nelson Ortiz/Con ultinc� Engineering cience,Ine. Engineer Michael E. Petulla Gustavo J. Carbonell Mariano Corral Surveyor Architect Landscape Architect (Attach Additional Sheets if Necessary) NOTICE: ANY STATEMENT OR REPRESENTATION MADE BY ANY PERSON LISTED ON THE APPLICANT REPRESENTATIVE AFFIDAVIT SHALL BE BINDING UPON THE INDIVIDUAL OR ENTITY APPLYING FOR THE DEVELOPMENT PERMIT AND THE OWNER OF THE SUBJECT PROPERTY. APPLICANTS AND AFFIANTS ARE ADVISED TO TIMELY SUPPLEMENT THIS AFFIDAVIT PURSUANT TO SEC. 31.71(8)(2)(IV) OF THE CITY'S LAND DEVELOPMENT REGULATIONS IN THE CITY CODE, IN THE EVENT THAT PRIOR TO CONSIDERATION OF THE APPLICATION BY THE CITY BOARD OR COMMISSION, THE INFORMATION PROVIDED IN THE AFFIDAVIT BECOMES INCORRECT OR INCOMPLETE. WITNESS Vy HAND THIS DAY OF _...,.. 2_ AUTHORIZED REPRESENTATIVE OF APPLICANT By_ �. (Si�naaae) Name: (Prial) Tille: -- -- - - - -- - Address:._..__ STATE OF 1`69%A ) COUNTY OF OWNER B> �...� nal e)Pw Name:.,T.im Fitzp,at.rj nk Vice President 7ttle:.,_.__._ Address: public Storage 701 Western Avenue Glendale, CA 91201 Before me the undersigned authority personally appeared Zit-, F L1L as the authorized representative of the Applicant andfor the owner of the properly subject to the application, who being first by to duly ear or affirm that heh34k- executed this Affidavit for the purposes stated therein and that it is true and correct AFFI N SWORN TO AND SUBSCRIBED BEFORE ME this Sllpklay of JA�wA?:W�eubfic 2QY MEREDITH A. ALLEN Commission # 1885701 Sta teoftterid�a-61-z ; i Notary public - California D Printed Name of Noll Z ' Los Angeles County M r ' Y commission expires:___A {� ii<_..i My Comm. Expires Apr 18, 2014 i BUSINESS RELATIONSHIP AFFIDAVIT* This Affidavit is made pursuant to Section 31.71(b)(2)(5) of the City of Aventura rand Development Code. The undersigned Affiani hereby discloses that (mark with -x" applicable portions only) )1. Affiant does nit have a Business Relationship with any member of the City Commission or any City Advisory Board to which the application will be presented. ( 12. ANiant hereby discloses that it does have a Business Relationship with a member of the City Commission or a City Advisory Board to which the application will be presented, as follows: (List name of Commissioner or Advisory. Board Member) who serves on the —(List City Commission or City Advisory Board upon which member serves). The nature of the Business Relationship is as follows [ ( i. Member of City Commission or Board holds an ownership interest in excess of 1% of total assets or capital stock of Applicant or Representative; [) ii. Member of City Commission or Board is a partner, co- shareholdar (as to shares of a corporation which are not listed on any national or regional stock exchange) or joint venturer with the Applicant of Representative in any business venture; [ ] N. The Applicanl or Representative is a Client of a member of the City Commission or Board or a Client of another professional working from the same office or for the same employer as the member of the City Commission or Board; [ j iv. A City Commissioner or Board member is a Client of the Applicant or Representative: ( I, v- The Applicant or Represenfalive is a Customer of the member of the City CrminfMion or Board (or of his or her employer) and transacts more than $10,000.00 d the business of the member of the City Commission or Board (or his or her employer) in a given calendar year; [ J vi, The member of the City Commission or Board is a Customer of the Applicant or Representative and transacts more than $25,000.00 of tthee business siness of the Applicant or Representative in a given calendar year. WITNESS MY HAND THIS 6 DAY OF .1/� c f�. 200_.1 '1— APPLICANT : B Srgrtature) Name: (lint) Title: crida—Pr ee— et _Rky) WITNESS MY HAND THIS PROPERTY OWNER: DAY OF By:,- (Signature) Nam. e:- _._.._ Tiller_ The terms Business Relationship, " Client " "Customer, " 'Applicant, " Representative' and "Interested Person` are defined in Section 1 -395 of the Aventura City Code. (.>L'LVb2Ni,A NOTARIZATION PROVISION STATE OF RORIM ) . COUNTY OF i= E� Before me, the undersigned authority, personally appeared im - -. F i t zpataft eknt who being first by me duly swan, did swear p- e#Frrnihat heF*he- executed this Affidavit for the purposes stated [herein and that $ is true and correct. AFFIA T SWORN TO AND SUBSCRIBED before me [his. ` day of MEREDITH A.ALLEN - Commission # 1885701 z deryPuhNcSteteof CA C�`tJ z = -d Notary Public - California z � � • > Primed Nam of Notary Los Angeles County Mycommissiatexpires:_PPS�r..lq,, ----- - ----- ____.....__.. ------ _ --------- ._.,.-___.._.----._-__._......------- . ...... ......__.- ..- ....._ STATE COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared _...... _._ _._ the Affiand, who tieing first by me duty swan, did swear or affirm (hat he/she executed [his Affidavit for the purposes stated therein and that it is trde and correct. SWORN TO AND SUBSCRIBED before me this _..___ day of STATE OF FLORIDA } COUNTY OF tuMAMI -DADE) Before me, the undersgned authority, personally appeared _ _ executed this Affidavit for the purposes staled therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this day of _._ --°---------------- - --- --- STATE OF FLORIDA ) COUNTY OF MIAM -DARE) Before me. the undersigned authority, personally appeared --- .- ..- . - -, -- executed this Affidavit Icr the purposes stated therein and [hat it is true and correct. SWORN TO AND SUBSCRIBED before fne this _- _.- day of 200- -.200-- AFFIANT Notary public State of Fia da A[ Lerge _.__...-._ o__.:..__ -.. ... -_.- Printed Name of Notary My commission expires:- ....___ -,— the Affiant, who being first by me duly swan, did swear or affirm that he/she AFFIANT Notary Public State d Fbride Al Large Printed Name of Notary My oornmlasion expires:-,._........_.. _.- the Mont who being first by me duty sworn, did swear or affirm that he/she ,-200,.. - .._._. - .- ..,... -._. AFf [ANT Notary Public State of FWida At Large Printed Name of Notary My commission expires:........ _ .. BUSINESS RELATIONSHIP AFFIDAVIT* This Affidavit is made pursuant to Section 31- 71(b)(2)(ii) of the City of Aventure, Land Development Code The undersigned Affiant hereby discloses that. (mark with "x" applicable portions only) 1 Affiart does not have a Business Relationship with ary member of the City Comm ssion or any City Advisory Board to which the application will be presented. [ 1 2 Affiart hereby discloses that it does have a Business Relat'.onship with a member of the City Commission or a City Advisory Board to which the application will be presented, as follows. (List name of Commissioner or Advisory Board Member) who serves on the (List City Commission or City Advisory Board upon which member serves; The nature of the Business Relationship is as follows. (; i. Member of City Commission or Board holds an ownership interest in excess of 11% of total assets or capital stock of Applicant or Representative, ( ii. Member of City Commission or Board is a pariner, co- shareholder (as to shares of a corporation which are not listed on any national or regional stock exchange) or joint venturer with the Applicant or Representative in any business venture; iii. The Applicant or Representative is a Client of a member of the City Commission or Board or a Client of another professional working from the same office or for the same employer as the mernber of the City Commission or ?oard IV. A City Commissioner or Board member is a Client of the Applicant or Representative, (! v. The Applir,anl or Representative is a Customer of the member of the. City Commission or Board (or of his or her employer) and transacts more than $10,000.00 of the business of the member of the City Commission or Board (or his or her employer) in a given calendar year, j vi. The member of the City Commission or Board is a Customer of the Applicant or Representative and transacts more than $25,000.00 of the business of the Applicant or Representative in a given calendar year WITNESS MY HAND THIS DAY OF 200 APPLICANT BY— ----- __.. (S� Name Tifle rPrml. WITNESS P /.Y HAND THIS DAY OF 200_. PROPERTY OWNER: By- Nam Title: (Signafwe) "lire rernr; "Business Relalionshrp, ` ` Clien," `Cumomec" 'Applkam, " "Representative' and 'Ynlerested Per.S017` are defined in Section 2 -39b of the Avernura City Code. NOTE. 1) Use duplicate sheets K disclosure information for Representative varies 2> 4npUm^u and Affionsx= advised mbmely supplement this Affidavit pvmuom to, Sec. 11'7|(h)i2Ki,)of the riry^, Land Du^,|upmcm Rrgn|mi^m in the City Code. in the o,ont 'hot prior to consideration of the arr|}ra/mn by the City Board or Commission. the mkrnmd*n provided in the Affidavit hccnmcs incorrec t or ioco III |m�, WITNESS WY HAND THIS, DAY OF 200 —13 Relationship AViduvid /�EPR ��ouo*� By Nome�____��___________�h/x� lNo lNo.-____-_' 8y� ��oaox� By-_(SIgnaove Name..,__ Name� Title � �)�V TNei-_ ...... __-_______-_��nV ' 8y'__ By. Name: o9�V Title: (Pont) T Pe: __'_________�____��� By By� TK� (Poh) TUle.___ �hn� By By__ Title: (PhnV Title: Thle�_______ 8y� /�»�mxx� By:_�________________���o�ue Title:. Title:_ NOTE. 1) Use duplicate sheets K disclosure information for Representative varies 2> 4npUm^u and Affionsx= advised mbmely supplement this Affidavit pvmuom to, Sec. 11'7|(h)i2Ki,)of the riry^, Land Du^,|upmcm Rrgn|mi^m in the City Code. in the o,ont 'hot prior to consideration of the arr|}ra/mn by the City Board or Commission. the mkrnmd*n provided in the Affidavit hccnmcs incorrec t or ioco III |m�, NOTARIZATiON PROVISION STATF OF FLORIDA ) CO 1N i Y OF I' !A41: DADE) `/ Belora me, the undersigned authority, personally appeared 111—aY 'lle L�!..._ the Affiant, who being first by.nr0 duly sworn, did swear or affirm that heshe executed this Al' it for the purposes stated therein and that it is true and correct. A I . SWORN TO AND SUBSCRIBED befoe e i r Notary Public Stale of Florida r° Ana Hernandez t� My Commission EE075919 i?. a1°` Expires 04129112015 STATE OF Fl1RIDA COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared executed ;his Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this __ day of ..,,.,,.. - - -- -- --- - STATE OF F'_ORIDA ) GOUNTY OF MIAMI -DADE) Be"ore me, the undersigned authority, personally appeared executed ILIs Affidavit for the purposes stated therein and that it Is hue and correct. 200_ AFR, T_ -. I y Notary Pubh e of Florida At Large Myco Name o Notary My commission expires J 7 .- ___ - ---- - - -_ _--_ the Affianl, who being first by me duly sworn, did swear or affirm that hershe A.FF IANT Notary Public State of Florida At Large Printed Name of Notary My commission expires: 1 11 11-1 Vie Affiant, who being first by me duly sworn, did swear or atfimr that he/she AFFIANT SbM'ORN TO AND SUBSCRIBED before me this , _ -. day of - 200 ..... .__ _. ..__.__�. Notary Public Slate of Florida At Large Printed Name of Notary My commission expires:_ -___. - -- ----- - - - - - - -- - STATc. OF FLORIDA ) _- COUNTY OF MIAMI -DADE) Before. me the undersigned awrority, personally appeared _ lire Affianl, who being first by me duly sworn, did swear or atfrm that he/she exerute! this Affidavit her the purposes stated therein and that it is true ane,, correct- SVVCRN 10 AND SUBSCRIBED befoe trip this _ .... _. day of -..._ .- ......_ 200_ AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires:_.. � ,V!, BUSINESS RELATIONSHIP AFFIDAVIT* This Affidavit is made pursuant to Section 31- 71(b)(2)(ii) of the City of Aventura Land Development Code. The undersigned Affiant hereby discloses that: (mark with "x' applicable portions only) 11 Affiant does not have a Business Relationship with any member of the City Commission or any City Advisory Board to which the application will be presented. j 2. Affiant hereby discloses that it does have a Business Relationship with a member of the City Commission or a City Advisory Board to which the application will be presented, as follows: (List name of Commissioner or Advisory Board Member) who serves on the (List City Commission or City Advisory Board upon which member serves). The nature of the Business Relationship is as follows: [ j i, Member of City Commission or Board holds an ownership interest in excess of 1% of total assets or capital stock of Applicant or Representative; [ ] ii. Member of City Commission or Board is a partner, co- shareholder (as to shares of a corporation which are not listed on any national or regional stock exchange) or joint venturer with the Applicant or Representative in any business venture; (] iii. The Applicant or Representative is a Client of a member of the City Commission or Board or a Client of another professional working from the same office or for the same employer as the member of the City Commission or Board; O V. A City Commissioner or Board member is a Client of the Applicant or Representative, [ ] v. The Applicant or Representative is a Customer of the member of the City Commission or Board (or of his or her employer) and transacts more than $10,000.00 of the business of the member of the City Commission or Board (or his or her employer) in a given calendar year; [ ] vi. The member of the City Commission or Board is a Customer of the Applicant or Representative and transacts more than $25,000.00 of the business of the Applicant or Representative in a given calendar year. WITNESS MY HAND THIS _1_ DAY OF _ S fPX -fj34-, Za 17— . APPLICANT By (Signature) Name: l a D 12 (Print) Title: V-ct �► *s�rauT _,(Print) WITNESS MY HAND THIS DAY OF 200_. PROPERTY OWNER: By: (Signature) Name: (Print) Title,_ (Print) 'The terms "Business Relationship, " "Client, " "Customer, " 'Applicant, " "Representative" and 'Interested Person" are defined in Section 2 -395 of the Aventura City Code. WITNESS MY HAND THIS 4l DAY OF !a ,c zol Z REPRESENTATIVE: (Listed on Business Relationship Affidavit) By: (Signature) Name -- n I" (Print) Title: Vrtti P✓►zs,a.NT (Pang _ C 444.6471 N 6u 94S,4z,V By' ((S,iignat /urge), Name:�rf� G� -614,70)�`� Title: A/--461 Y Cf -- . (Print) By:__ (Signature) Name: Name :_ (Print) Title: (Print) By, (Signature) Title: Title: (Print) Title: (Print) By:– (Signature) Title: (Print) Title: (Print) By: (Signature) Name: Title: (Print) Title: (Print) By: (Signature Name: (Print) Title: (Print) By: _ (Signature Name:_ (Print) Title: (Print) By: (Signature Name: (Print) Title: _. _ (Print) By: (Signature Title: (Print) Title: (Print) By: (Signature Title; (Print) Title: (Print) By:_ Title: (Signature Title: — (Print) NOTE: 1) Use duplicate sheets if disclosure information for Representative varies 2) Applicants and Affiants are advised to timely supplement this Affidavit pursuant to Sec. 3 1-71 (b)(2)(iv) of the City's Land Development Regulations in the City Code, in the event that prior to consideration of the application by the City Board or Commission, the information provided in the Affidavit becomes incorrect or incomplete. NOTARIZATION PROVISION STATE OF FLORIDA } COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared N.+U n Ur4 I Z the Affiant, who eing first by me duly sworn, did swear or affirm that he /she executed this Affidavit for the purposes stated therein and that it is true and correct. C —� AFFIANT SWORN TO AND SUBSCRIBED before me this day of C20f s OMAYRA V. BERG Notary Public - State of Florida My Comm. Expires Jun 27, 2014 Notary Pubti t lorida At Lar +, ,,,, ••° CommlSaion # EE 4280 Printed me of Notary My commission expires: STATE OF FLORIDA ) COUNTY OF MIAMI -DADE} d ���� �Kw Before me, the undersigned authority, personally appeare�V — the Affiant, w eing y sworn, did swear or affirm that he(she executed this Affidavit for the purposes stated therein and that it is true and correct. AFFIANT � f 2 SWORN TO AND SUBSCRIBED before me this da y of 20 NOTARY PUBLIC -STATE OF FLORIDA _ D� .,..y, Obdulia Vald °s U -` : Commission # DD,899000 NoJM Public Slate of Fl d r e ' %; ?,,•' Expires: JUl Y 14, 2013 1.(LSd&I -14 (/GO BONDED THRU ATLANTIC BONDING CO., INC, Printed Name of Notary ((_ J R My commission expires: ` .7 STATE OF FLORIDA ) COUNTY OF MIAMI-DADE) Before me, the undersigned authority, personally appeared the Affiant, who being first by me duly sworn, did swear or affirm that he /she executed this Affidavit for the purposes stated therein and that it is true and correct SWORN TO AND SUBSCRIBED before me this _ day of , 200_ STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this __._ day of _ 200_. AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires. the AffianL who being first by me duly sworn, did swear or affirm that he /she AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires:_ ___ ` BUSINESS RELATIONSHIP AFFIDAVIT' ¢4pfler� inr� Affuau:; ;ti mad~ pttrSuan! a S—Wlon 31.71(42>(rn, Of ;Ire Ciiy o! Aventc.) rz .acre DWelotwnerr ;ode T he enoeKigner Affiant hereoy biscloees tna: amarr vnth'x- awficable Dmions ^n1y4 Afferl rimes not havr: a BirstneS; Retahonshir wnh ary rriemne or ftm C4iy :commission n• any Crly Advisory Boad tQ wnic* tie anoticolon will ne niresented Affianl hereby discloses that if does It a Business Re:atanshn wdh a member of the City Commission o: a City Advisory board to which the application will De Dresenled. as Wows. (Js' home mf :,omm tsspne' n' Adwgnf;' Board Wernber whC server` 0, the . _ (:ts ±: tly ;.ommi5sK)i- or CAty Advisory Board up,)- whtcn memhe: serve_; T nr: ratrnr 01 the Business ReWionsho Is as; follows f. M-mber of City Commission Or Board noids an c>wnershm mieres: in excess of 1% a total assess O: cawai stoct: of PiDolicant or Reoreseniatwe. ( ii. Mernbef n! City Commission or Board is a Darinec. W- shareholde; Jas w scares nr a coronrattor wnrcr. arp ne listed on any national or repronal stock e:rcflangej a toim verncue: wish the ADDhcant o: Reoreseniative in any business venture: ir. The ADaiimnl or Representative is a Ghent of a member Or the City COmmIssrJn or Board or a Cher: or anoiher Drofessiona' working from the same office or for the same emr>taye: as the memoir r of the City Commisson rx Boa'o. f j ry A City Commissioner or board member is a Client of the Applicant or Reoresenlative, l v The Annfr.:.ant or RiiewntalnuP. is a r IAIMPr of the member Of the l:Ily ':nmmlCSM nr Board in! of his or hp> employer and transacts more Char; S10.0.00 CA foe business of the member of the City Corhrnsson or Board lo: his or he: empooyer'; in a oiven calenoar year. w. The member o? t!te City Commission or Board is a Cusamer of the ADplicani or Representative aid transacts more Thar S25.00010 of the business of the A001i t or Representatwe in a given calendar year. WI-i N ESS IN HAND THIS -- DAY OF 2p Ar= PL!C,AN` Sr :5!�rrarurer faarne rFrrtr% dK• __ _� fprrnl; W7 WES rat' KAND THf� PPOPERT`:' (3WNcR- DA`' OF — — 1C[-'-- 5r. f&onarrae! Dame °nor= 'rake lPia�r - -� The i?rrli: lvirgess Realronshp,` "iiieni." 'uulSronier.` 'AODkC'W,° 'REp�eSerllatrv2'" OW, 71MerPSree Parson' are oe&W, in .� :1rra: i• fc :; rrdt �iat'rtur c;rrl Cooe -zbC3 WITNESS h(V ;HAND THIS �. DAY OF ftkt,#A P 6cAR c'NTATI1rE tst ine riot ion i ANidavilj Y BY r4ameM:ichael E. f °irnit Name: ,Pant; PeUu1Ta - itt±e Surveyor tPrr„t ?toe BY: _, ­ (Srgnarure; Name _ -- (Ptrr; Tit)e- (Print) By: _ fSrgnarure Name._._. — _(Print) r!le: (Print) Br _ fsignatule,. Tt� {ie: Tice: fP/L71,% By. Title (Fr�nt1 Title (Print) By. (S1gna11j10 Tlne. _ -- (PrrnL) Title.___ _ ...... (Prt!7tf By: _ _ - -. _ fSrgnarure Name.. _ Name _— Tine: IPnnrj By (Sitinarure Name _— (r3intl Title:. fPrrrllj BY_ Tt� {ie: fPi�r {i Title- -_. BY- .- _. 15ignmilre Title :. -- (Pri"V By- Title. Title. _ _i(Prrnit NOTE: 11 Use duplicate sheets if disclosure information for Representative varies 2i Aoniicanis and Affiants are advised to timely suoplent°ni this Affidavit pursuant to Sec. ?I- 71(b)42t(iv) of the C'ir% s Land Development Rzotdations in the Cite Linde. in the event that prior to consideration of the apphealtor hr the City Board or Commission. the information provided in the Affidavit becomes incorrect or +ncomnlete. NOTARIZATION PROVISION F! -ORDA OF �" 5ebjAat> heirge me. the unilersogned avthoriry. personally al)f*afed the Affip.m,, who bennQ 6 by me iv q of r, who Wnt, I me exemlec Mis Affidavit lot the purposes stated theteir, and 1W it i5 true and correl, "a, A-j A F P !ANT Ulb+R�6t996@111�et of y P ...... 2019 y fl JANIENE W. COLTON A = Notary Public - State of Florida Not Pu I r e My Comm. Expires Aug 2, 2013 Printed N of Nov IZOF ' F Commission # DD 900435 P �'rinriNotary MY commis.. .... as - ------------ ........ . ..... COUNTY V VIAWDA[)E! Debire frie. the undes-geed authrAq. personally appealed the Affient, who being first by me doi,, sworn. did swear or affirm (hat hersht execute this A.Kicavit ior Ine P-ofoosles stated therein anc that it is true ano carm-, A;:,--CANT N TO AND SUBSCRIBED aelore me this -- day Of—, 200_ Notary Public State of Fjortua At Large Printed —dame -WfNn--u-vy- — --- -- MY commission expires:­­ _' ­ S*Aic Or F_OQIDA 'GOUNT� Or MIAMI -DADE) Before me, Ole underwried authority, personally appeared the Atliant, who being firs! by me duly Sworn. did swear or affirm that he/st, Pxect)Whs Affidaysl fix the lyjrf)oses stated therein and that it K true and criefect AFFiANT SWORN TO AND Sii?SCRIBE--:) before MelhtS--, dayof - -.- -.200­ Notary Public State of Florida At Large Printed Name of Nolary IVY commission expires.. S-AT; ' Or r -0RfDA ------ ­-.---"----- ---- - ---- -------- COUNTv C) MIAWDADE) fle•ora me. the undersigned authority. personally appeared tie Alfiart. 0c barn first by me duly sworn. did swear a albr.- thpit)e.1-he exa-'Utel this AlftGavi: lei the purposes Stated therein and that it is title and ccx'0c-. SWORN TO AND SUBSCRIBED before me this day Of 20C AFFIANT Npoia'v P"ibli'. State of Flo Ida At large Drirlted Name of Notary MY Wilmwicin exorresi.- ` BUSINESS RELATIONSHIP AFFIDAVIT' Ttu� Affidav+i is made pursuant to SeChOn 31- 71(b)(2)(ii) of the City of Aventure Land DPVelopn nt :ode. The undersroned AKiant hereby discloses lira; (inari. with 'z' apnli„ able oortiors only; V{i 1 AHiant does not nave a Business Retationshro with pry member of Rte Ciiy Commsswn e• any City Advisory Board 16 which the application will be oresentri AfSart hereby discloses that ii does haw a Business Retaeanshtp with a member of the City COMMisSror• or a C Board to which the application will be presented. as folows: ity Advisory - - - - -- tLis! name of Commresroner or Advisory Board i1h @rtlber-,' Why serves pr. thc. — - -. - -- _ {! is ;City Comrnissron or City Advisory Board upon wnicn member servesf 'ht: nature of the Business Relationship Is at follows. ( Member of City Commission or Board hoids an o"rshle interest in eyes o+ 1 °!� o' total assets or caouar stock of Aoplic ant or Representative; lvlember of City Commission or Board is a partner, cc-shareholder {as 10 share; of a corporation whiC.h are not listed ss any netional or regional stock (7xatange) or loin; venturer with the Applicant o: Representative in any business venti/re; r i iii- The Applicant or Representative is a Client of a member of the Citv Commission or Bparo or a Chen: of anoiner Board, same working from the same Office or for the same employer as the member of the. City Commission or 3oard, f j iv A City Commissioner or Board member is a Client of the Applicant or Representative; ! v ThP APnfi-anf Or RPprK_ P,rllainip )5 a Customer of thP. member d the C.ily : OmmiSSron or Board for of lire � tier erncloyer }and transacts more tnar $iQf�0 -00 Of the business of the member of the City Commission or Board for his or her employer) in a given calendar year; i) vi. The member of the City Commission or Board is a Customer of the Applicant or Representalive and transacts more Thar, $25,000.00 of the business of the Applicant or Reoresentative in a given calendar year. WITNESS IVY HAND T HIS _ DAY OF -- - 200 ADPLICAN` Br Name 15rgrr ?hirer i 111E --_ — _ _ iPrarrl VTNF °S MY HAND TH PROPERTY OWNER: DA" OF 200_ Bv. !SmnArurej name . +die. -- �(Prrnli lire le/nzs Huv »ess Rei »�ronsh , ` client. 'CUS1omer. ` 'Appltcanl, - 'y?epresernanve" altd 'hlleresled Pr�rsOn' Bic: de/rited m $GC1U017 ? -Jo i of file AYenlUrn (.�llv COde A Ti NOTARIZATION PROVISION �'XNIT! Or MAW-DAIDc ! hei0reme. the und&.sioner, authority. Personally appeared the - "whobetNftlbyr-ne execifteci thl,, Affidavit to Vie purposes stated I e etr i by hi --ancth"titisbuea, SWIRN M AND SUBSCRIBED oeVe, fine If* day Of 200f did sf ear 7haffinr, that he,'Shi; p7 -Z*e, Not%ry Public State Of Florida Hernandez Xc. o` Commission E E07591 9 for no Expires 04/29/2015 -P Prfflled Nam, 0! Notary My OMIMISW exores ---------- --- ------- -- - -------- ........ SSA - - ().RIL)A 3 " ------- (,()tjN-Is OF IVIAWDADE) Befoferne. tile unders;gned avinnitly_ personally appeared executeo. lh;s Affidavit lor the OVIDOM stated Inerein ano that it is trje and Mie--! the Affiarl. who being first by me duly Sworn, did svvu, a affirm the-, ljpjsh(, AFFiJiNT 'WORN TO AND SUBSCR)BED before me this day of 200 Notary Public State of FW= At Large Pn riled kathe 0 Notary --, ............ ... .............. ... Mycorrimtssionexares ...... . ...... ...... . ... ----- - - - --- -° --------- WE C--- C oRtot, I OUNT" OF MIANIJ-DADt) Bette the. the undersigned authority. personally appeared ...... the Affiant, who being first by me oujy s exK-utee this Affidavit for the p-j(POSes; stated lherein W that it is tare and conet! wom, did sweat or affirm that he/she Ajii FANt SWORN TO AND SJBSCMED before me this ,__ day Of , _200, Notary Public State of Florida A, Large Printed Nam of Notary My Commission expves. ATOR 1 0 P. -------- --------------- -- ------ . ............. Or MIAMI-C)AD;Ej ,Qe�,'Xe me. the undersigned ainhonly. Personally appeared the 018111. who being first by the duly sworn. did swear or affir-- that he/she exectilec this Aftiwvii to, the pvrposes stated therein. and Ina, if is true and correct. SWORN TO AND SUBSCRIBED before me this day 01 , _ _ -.. 200, AFFIAW Notary Public State of Florida At Large Printed Name ol Notary My commission expires P . SITE PLAN APPROVAL SUBMITTAL FOR: USTAVO J. CA RBON E LL, PA Ahl.t ad Dl—, GM e A IiI t AO PUBLIC STORAGE 1457N 41— {;ed6,—,33304 a 21288 BISCAYNE BLVD. AVENTURA, FLORIDA (111) 462-6565 —.IM— oI A.m i 0 z � N ML y =� a co c o i as, < 111 OD a z Z to r m0 m O 0 m Z y � 4 M mi ;r 0� y N O O 70 C N p r m a a a = r P r w 5 w -C4 5< 1 m i x O T i ° m z o m 9 m a r v a z r rw m -C. i r 2 o� O � 0 � 0 Z a 1 I.M. 4f w 1 m O v 9 Z 9 Z C Z A p r 5 z 5 ame 9 Cl = z v z z o O o m w a z° Z x 1A z � In o a z 9 CO m x v E w °z X m a m w m m o z m y Z y z a SITE PLAN APPROVAL SUBMITTAL FOR: USTAVO J. CA RBON E LL, PA Ahl.t ad Dl—, GM e A IiI t PUBLIC STORAGE 1457N 41— {;ed6,—,33304 21288 BISCAYNE BLVD. AVENTURA, FLORIDA (111) 462-6565 —.IM— oI A.m i 0 c v m z v 0 V) M =" r ° z 0 c K T Vl m m X m Z Ln O z Z N m (n m n m iNE 287H AVENUE i NU $ Z � _- o D n -- - o o � a 'o ua ge e= 8 m i 4q a4 Y4 9 o m L' 88 "gym °so., �4r$ mg Z 8 8 ^o °s MR e v An 9 E I � m�. iNE 287H AVENUE i NU Z � _- -- - o �m�� o a 'o N Ric i s k ?N1 €�A � A4 rn J L' 88 "gym °so., �4r$ mg Z 8 8 ^o °s MR e v An 9 E I � a C ■ � � ■] I PPyraa��. wl �D g b m D RmMI d'E N , MmMHH RR � N � I+ iy A N m�. iNE 287H AVENUE Z � _- -- - soo�w I I e 9 E I � a C ■ � � ■] I PPyraa��. wl qq d'E , � I+ d ¢ R E " I I I jI3 I I I I r:• g F V �� _Y ■ � S E. � '�nxnnE�' 5 Ni. Y I 9 I YN 9 I e f F \ SC4 �f e4 1a ,4 p d� m GLISTAVO J. CARBONELL, PA. " a s SITE PLAN APPROVAL SUBMITTAL FOR: nRh,lal. a o PUBLIC STORAGE ,.z =NE 4 —VE aN 3 b h x f. 1. -h , F6�d ,33304 21288 BISCAYNE BLVD. cvs4� 4nzesns - AVENTURA, FLORIDA $ jiUSTAVO J. CARBONELL, PA. SITE PLAN APPROVAL SUBMITTAL FOR: Amki- aid FI.— - PUBLIC STORAGE „i,NE 4—VE _ 21288 BISCAYNE BLVD. casa� ans.esns AVENTURA, FLORIDA M.mb.,� .�Imi.rt oV MAo-n• c 4v 0 p- - - - -- -- - - - - -- M Z I I I i I I $ICI' I 9�4g1 D Z Z O o1pFg O m +a: 'o.. A O N m0 mA 00 mm I I � AC � � Z I I I ON m I o I I I I I I I I -. -___ --- - - - _.- I i O I D(JIM�� I � I 0 z D c� F D �U)U� F �� D F9 (f) D Zx - P W N G 0 S 0 0 0 -< U) 0) r F- r F- oXX�U I 6g � gs G ° o jiUSTAVO J. CARBONELL, PA. SITE PLAN APPROVAL SUBMITTAL FOR: Amki- aid FI.— - PUBLIC STORAGE „i,NE 4—VE _ 21288 BISCAYNE BLVD. casa� ans.esns AVENTURA, FLORIDA M.mb.,� .�Imi.rt oV MAo-n• SITE PLAN APPROVAL SUBMITTAL FOR: USTAVO J. CARBONELL, PJL PUBLIC STORAGE A�ki--d Pl- 1457 N E l,k AVE 212" BISCAYNE BLVD. AVENTURA, FLORIDA 3330a (11 �46-565 u EEale -------------- -- -------- -- DEz coo m "o o" X 'o N 0) O w I Ul co o mA oc) mm 0 v Ac mn Z ON Q O 2 77: ii 1.7 ------------ nn SITE PLAN APPROVAL SUBMITTAL FOR: USTAVO J. CARBONELL, PJL PUBLIC STORAGE A�ki--d Pl- 1457 N E l,k AVE 212" BISCAYNE BLVD. AVENTURA, FLORIDA 3330a (11 �46-565 u SITE PLAN APPROVAL SUBMITTAL FOR: GUSTAVO J CARBONELL, PA. Zail—d P6— PUBLIC STORAGE NE �,l -E aN F, —1, 161, 1130a 21288 BISCAYNE BLVD. AVENTURA, FLORIDA ------------------ - ------------- — — — — — — — — — — — — — — — — — — L ----------------- D2z "o N) rl) om, 20 . 0).0) '0.. 0, co 0 m X 0 > !A !A mc) 'm mc Az S � 41 C4 z pN SO > z F— F— SITE PLAN APPROVAL SUBMITTAL FOR: GUSTAVO J CARBONELL, PA. Zail—d P6— PUBLIC STORAGE NE �,l -E aN F, —1, 161, 1130a 21288 BISCAYNE BLVD. AVENTURA, FLORIDA a s SITE PLAN APPROVAL SUBMITTAL FORT GUSTAVO J. CARBONELL, P A i AR —and P1 — :o L o PUBLIC STORAGE n N.E. atA L AVE. m w b x v.. Eaa,. 33304 �» 27288 BISCAYNE BLVD. casa� ansesns - AVENTURA, FLORIDA EBB EM lim i a4 \ LOPE 1/1-/FT 5 B SLOPE 1 /4' /FT. a£ Fl� ----------------- fmOOOl u SL OPE 1 /o ",FT. F° o s£ o E 1 /s - /FT. 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Will 4, AVENTURA, FLORIDA �� € =4N� �s x���A� g8 8�$ fip �•g���R's�a"�� >� °� _ `d� �_ �� �� � 3 Z it 01 � 8. � ay9 4 i nn8 a ����;.$`���e�#v� �q2q s lit es gg @Rc -1�9Sa $F. -` gp r�'g SJ_s y4 €€ 8g '� s_S "�E_• BLS .4 c 1A� > $�°'. gn If � L' ! ,3 ; ,�•g���a' € Hip3. 8 gSg'a gSg C g 3 68- nst `3' '+2�'Ep'y c °e ° 6p ., as B° $ Sp R R, ?€ s$S a &=,e �° ff n a 3e R9n n $2g E�- '� 5- 3c �ig51= tw- �F -�ys� 8 € ga 6gE � �8 §� i� A >ts aa Asp; {° azs s�°Ra` l3 j 33^ gY�gcp$ g8� lit Iaq8 a8 gff° € 3� fill € 99T a osa ¢¢ 5- a s g' l� P a ¢Re gs €- ar s €1 P a E !lit t _ ilk 3 =�- R8g � �d f P ga fs ^g a # g3 $a? ag� 3 E 6u It R6 = It Ir HIP ' f'> da tinge ` 4 Pills rn a p j s 2 [L9 2.;n CG° 0 r. r- �� m n. o�. ro.m.�+•r.r�wn�an�oi,a�uree,wea war,. �. a.;. uerw,... xee.. ree. e�.. n. a� .er.�uitr1.n.n�- •n.�,.u.rb.�.+r� sr.+ anur�r. w.. �. c. s.. �. r. �,�s.n,�e..w.r.:.:a..+n- �..i�,w RESOLUTION NO. 2013- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA GRANTING CONDITIONAL USE APPROVAL PURSUANT TO SECTION 31- 144(f)(2)j. OF THE CITY CODE TO PERMIT A SELF - SERVICE STORAGE FACILITY IN THE MO (MEDICAL OFFICE) DISTRICT; GRANTING APPROVAL OF VARIANCE FROM SECTION 31- 144 (f)(4)d.3. OF THE CITY CODE TO PERMIT 29.7% OPEN SPACE, WHERE A MINIMUM OF 33% OPEN SPACE IS REQUIRED BY CODE; AND GRANTING APPROVAL OF VARIANCE FROM SECTION 31- 144(f)(4)c. OF THE CITY CODE TO PERMIT A 20 FOOT WIDE REAR YARD SETBACK, WHERE A MINIMUM REAR YARD SETBACK OF 25 FEET IS REQUIRED BY CODE, FOR THE REDEVELOPMENT OF THE SELF SERVICE STORAGE FACILITY AT 21288 BISCAYNE BOULEVARD, CITY OF AVENTURA; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the property described herein is zoned MO, Medical Office District; and WHEREAS, the applicant, Public Storage, through Applications Nos. 01 -CU -13 and 02- VAR -13, is requesting conditional use approval pursuant to Section 31- 144(f)(2)j. of the City of Aventura Code of Ordinances ( "Code ") for a self - service storage facility in the MO, Medical Office District; and variance from Section 31- 144(f)(4)d.3. of the Code to permit 29.7% open space, where a minimum of 33% open space is required by the Code; and variance from Section 31- 144(f)(4)c. of the Code to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by the Code, and WHEREAS, following proper notice, the City Commission has held a public hearing as provided by law; and WHEREAS, the City Commission finds that the Application meets the criteria of the Code, to the extent the Application is granted herein. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. Application for conditional use approval pursuant to Section 31- 144(f)(2)j. of the Code to permit a self - service storage facility in the MO, Medical Office Resolution No. 2013-, Page 2 District; application for variance from Section 31- 144(f)(4)d.3 to permit 29.7% open space, where a minimum of 33% open space is required by the Code, and application for variance from Section 31- 144(f)(4)c. to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by the Code, on property legally described in Exhibit "A" to this resolution are hereby granted, subject to the following conditions: 1. The applicant shall obtain building permits for the proposed development within 12 months of the date of the approving resolution, failing which this approval shall be void. The applicant may request one six month extension of time to obtain building permits and the City Commission may, by resolution or motion, grant such extension of time upon showing of good cause by the applicant. 2. Plans shall substantially comply with those submitted, as follows: • "Public Storage ", Cover /Location /Index, Sheet C -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", ALTA/ACSM Land Title Survey, Sheet 1 of 2, prepared by Michael E. Petulla, P.L.S., dated 8/17/2012 • "Public Storage ", ALTA/ACSM Land Title Survey, Sheet 2 of 2, prepared by Michael E. Petulla, P.L.S., dated 8/17/2012 • "Public Storage ", Conceptual Site Plan, Sheet SP -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 1/25/13, signed and sealed 2/4/2013. • "Public Storage ", Ground Floor Plan, Sheet A -1, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", 2nd Floor Plan, Sheet A -2, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", 3rd and 4th Floor Plan, Sheet A -3, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Roof Plan, Sheet A -4, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Elevation Plan, Sheet A -5, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", West Elevation - Rear 1 -Story Building Plan, Sheet A -6, prepared by Gustavo J. Carbonell, P.A., dated 8/13/2012, revised 12/4/2012, signed and sealed 2/4/2013. • "Public Storage ", Overall Site Plan, Sheet C -1, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Layout Plan, Sheet C -2, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. Resolution No. 2013 - Page 3 • "Public Storage ", Paving, Grading and Drainage Plan "A ", Sheet C -3, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Paving, Grading and Drainage Plan "B ", Sheet C -4, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Site Details, C -5, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Drainage Details, C -6, prepared by Consulting Engineering & Science, Inc., dated 1/10/2013, signed and sealed 2/5/2013. • "Public Storage ", Landscape Site Plan, Sheet LP -1, prepared by Mariano Corral, Landscape Architect, dated 9/5/2012, revised 2/6/2013, signed and sealed 2/6/2013. • "Public Storage ", Specifications and Details, Sheet LP -2, prepared by Mariano Corral, Landscape Architect, dated 9/5/2012, revised 2/6/2013, signed and sealed 2/6/2013. 3. Any discontinuation of the approved conditional use for a period of 180 consecutive days shall constitute abandonment and shall rescind the approval of the conditional use. 4. Prior to issuance of a building permit for the proposed development, the applicant shall provide to the City a recorded copy of a Unity of Title, in form satisfactory to the City Manager and City Attorney, to combine the two parcels comprising this development Section 2. The City Manager is authorized to cause the issuance of permits in accordance with the approvals and conditions herein provided and to indicate such approvals and conditions upon the records of the City. Section 3. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb Resolution No. 2013 - Page 4 PASSED AND ADOPTED this 5th day of March, 2013. Susan Gottlieb, Mayor ATTEST: TERESA M. SOROKA, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY This Resolution was filed in the Office of the City Clerk this day of , 2013. CITY CLERK Resolution No. 2013 - Page 5 EXHIBIT "A" LEGAL DESCRIPTION OF PROPERTY PARCEL #1 Being a portion of the SW '/4 of the NE % of the NW '/ and SE '/4 of the NE '/ of the NW '/4 of Section 34, Township 51 South, Range 42 East, Dade County, Florida, as follows: Beginning at a point on the west line of said SW % of NE '/4 of NW '/4 located 273 feet north of the southwest corner of said SW '/4; Thence Run easterly parallel to and 272.948 feet north of the south line of said SW '/ and SE '/4 793.84 feet to the westerly right of way line of Federal Highway U.S. No. 1; Thence Run northeasterly along said right of way 100 feet; Thence Run westerly parallel to and 363.91 feet north of the south line of said SW '/4 and SE '/4 837.29 feet to the said west line of SW '/4; Thence Run southerly along said west line 90.98 feet to the point of beginning. PARCEL #2 That parts of Lots 3 and 4, Block 3 of Hallandale, lying westerly of the right of way of State Road #4, according to the plat thereof recorded in Plat Book "B ", at Page 13 of the Public Records of Dade County, Florida, more particularly described as follows: Beginning at a point on the westerly boundary line of Lot 3, Block 3, said point being 150.05 feet south of the northwest corner of said Lot 3, Block 3; Run Thence easterly on the line parallel to the south line of said Lots 3 and 4, a distance of 908.47 feet to a point being on the westerly line of State Road #4 or Federal Highway U.S. #1; Thence Run in a southwesterly direction on the westerly line of State Road #4 a distance of 163.80 feet to a point; Thence Run along a line deflecting to the right 114 031'49" said line being parallel to the south line of said Lots 3 and 4, Block 3, a distance of 837.29 feet to a point; Thence along a line deflecting 91013'03", to the right along the westerly line of Lot 3, Block 3, a distance of 149.05 feet to the point of beginning. CITY OF "ENTURA COMMUNITY DEVELOPMENT DEPARTMENT MEMORANDUM TO: City Commission FROM: Eric M. Soroka, IC -C City Manager BY: Joanne Carr, AICP Community Development Director DATE: February 14, 2013 SUBJECT: Variance requests by Aventura Fashion Island LP to facilitate the development of "Town Center Aventura" located at 2711 NE 187 Street, City of Aventura (03- VAR -13) March 5, 2013 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission take the following actions: Approve the request for variance to permit common open space of 29.35% where a minimum 35% common open space is required by Code in the TC1 (Town Center) District; and 2. Approve the request for variance to permit an existing 8.4 foot wide and an existing 8.5 foot wide parking stall, where a minimum parking stall width of 9 feet is required by Code; and 3. Approve the request for variance to permit an existing 4 foot wide and an existing 5 foot wide setback to parking pavement, where a minimum 10 foot wide setback is required by Code; and 4. Approve the request for variance to permit an existing 5 foot wide and an existing 6 foot wide terminal island, where a minimum terminal island width of 7 feet is required by Code; and 5. Approve the request for variance to permit parking rows with more than nine contiguous parking spaces without a landscaped island, where a minimum of one 7 foot wide landscaped island for every nine parking spaces is required by Code; and 6. Approve the request for variance to permit an existing 0 foot wide, an existing 3.9 foot wide and an existing 4.8 foot wide divider median, where a minimum 7 foot wide divider median is required by Code subject to the following conditions: 1. Plans shall substantially comply with those submitted as follows: • "Town Center Aventura" Cover Sheet, Sheet C -1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Loehmann's Fashion Island ", ALTA Survey, Sheet 1 of 2, prepared by Ford, Armenteros & Manucy, Inc., dated 6/29/10, last updated 1/30/13, signed and sealed. • "Loehmann's Fashion Island ", ALTA Survey, Sheet 2 of 2, prepared by Ford, Armenteros & Manucy, Inc., dated 6/29/10, last updated 1/30/13, signed and sealed. • "Town Center Aventura" Overall Site Plan, Sheet C -2.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Overall Pavement Marking & Signage Plan, Sheet C -2.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Overall Paving, Grading & Drainage Plan, Sheet C -2.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Civil Key Sheet, Sheet C -3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "A ", Sheet C -4.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "A ", Sheet C -4.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "A ", Sheet C -4.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "B ", Sheet C -5.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "B ", Sheet C -5.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "B ", Sheet C -5.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "C ", Sheet C -6.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "C ", Sheet C -6.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "C ", Sheet C -6.3, prepared by Bohler K Engineering, dated12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Plan "D ", Sheet C -.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "D ", Sheet C -7.2, Sheet C -7.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "D ", Sheet C -7.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "E ", Sheet C -8.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "E ", Sheet C -8.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Engineering Plan "E ", Sheet C -8.3. Site Plan "E ", Sheet 8.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Site Details, Sheet C -9, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed.. • "Town Center Aventura ", Planting Plan - Entrance Drive, Sheet LP -1, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - West Entrance Drive, Sheet LP -2, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - South Entrance Drive, Sheet LP -3, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - East Entrance Drive, Sheet LP -4, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - North Entrance Drive, Sheet LP -5, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - Pavilion Plaza, Sheet LP -6, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - Overall Site, Sheet LP -7, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Tree Disposition Plan - Overall Site, Sheet LP -8, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Specifications & Details, Sheet LP -9, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Floor Plan, Sheet A -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Elevations, Sheet A -2, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Elevations, Sheet A -3, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Gazebo Plan & Elevation, Sheet A -4, prepared by Kent D. 3 Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Trash Enclosure Detail, Sheet DP -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Site Lighting Plan, Sheet ESP -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. 2. Building permits for the proposed development shall be obtained within twelve (12) months of the date of the Resolution or the approvals granted shall be deemed null and void unless extended by a motion of the City Commission. 3. Prior to issuance of a building permit, the applicant shall record this resolution in the Public Records of Miami -Dade County. All expenses of such recordation shall be borne by the applicant. 4. Prior to issuance of a Certificate of Occupancy or Certificate of Completion for the lifestyle center improvements, the applicant shall either: a. Provide to the City a recorded copy of a modification to the Reciprocal Easement Agreement between the applicant and the Venture condominium approving the reconfiguration of the turning circle and access road as shown on the improvement plans submitted with this Application 03- VAR -13; or b. In the event that the applicant fails to obtain such modification of the Reciprocal Easement Agreement, the applicant shall apply for revisions to the approved site plan and variances in accordance with Section 31 -76(h) and Section 31 -790) of the Code to amend the approved plans to provide for strict compliance with the access road configuration provided for in the effective Reciprocal Easement Agreement, and the applicant shall relocate the access road configuration in accordance with such final approvals. 5. No future expansion of floor area in the Lifestyle Center shall be permitted until all parking areas have been brought into strict compliance with the City Code. THE REQUESTS The applicant, Aventura Fashion Island LP, is requesting the following (See Exhibit #1 for Letter of Intent): 1. Variance from Section 31 -145 (b)(5) h. to allow common open space of 29.35 %, where a minimum 35% common open space is required by Code for the TC1 (Town Center) District; and 2. Variance from Section 31- 171(a)(6) to allow an existing 8.4 foot wide and an existing 8.5 foot wide parking stall, where a minimum width of 9' is required by Code; and 4 3. Variance from Section 31- 171(a)(7) to allow an existing 4 foot wide and an existing foot wide setback to parking pavement, where a minimum 10 foot wide setback is required by Code; and 4. Variance from Section 31- 221(1) (3)a.1. to allow an existing 5 foot wide and an existing 6 foot wide terminal island, where a minimum terminal island width of 7 feet is required by Code; and 5. Variance from Section 31- 221(i)(3)a.2. to allow parking rows with more than nine contiguous parking spaces without a landscaped island, where a minimum of one 7 foot wide landscaped island for every nine parking spaces is required by Code; and 6. Variance from Section 31- 221(i)(3)a.2. to allow an existing 0 foot wide, an existing 3.9 foot wide and 4.8 foot wide divider median, where a minimum 7 foot wide divider median is required by Code, all on the property known as the Town Center Aventura plaza located at 2711 NE 187 Street, City of Aventura. BACKGROUND OWNER OF PROPERTY APPLICANT ADDRESS OF PROPERTY SIZE OF PROPERTY Aventura Fashion Island LP Aventura Fashion Island LP East side of Biscayne Boulevard between NE 187 Street and NE 191 Street, municipal address 2711 NE 187 Street (See Exhibit #2 for Location Plan) Overall Town Center site is 26.22 acres Lifestyle Center site is 19.94 acres LEGAL DESCRIPTION Part of Tracts A and B, Regina Square Subdivision, Plat Book 113, Page 27 of the Public Records of Miami -Dade County, Florida, City of Aventura (see Exhibit #3 for complete legal description) Zoning - Subject Property: TC1, Town Center District and B3, Heavy Business District Properties to the North: B2, Community Business District Properties to the South: B2, Community Business District Properties to the East: TC1, Town Center District and TC2, Town Center Marine District 5 Properties to the West Existing Land Use - Subject property: Properties to the North; Properties to the South Properties to the East: Properties to the West: Biscayne Boulevard and FEC Railway Commercial Plaza Commercial Commercial and Residential Commercial and Residential Biscayne Boulevard and FEC Railway Future Land Use - According to the City of Aventura Comprehensive Plan, the following properties are currently designated as follows: Subject property: Town Center Property to the North: Town Center Property to the South: Business and Office Property to the East: Town Center Property to the West: Business and Office The Site — The subject site is located on the east side of Biscayne Boulevard between NE 187 Street and NE 191 Street, known as the Town Center Aventura plaza with municipal address 2711 NE 187 Street, City of Aventura. The Project — The applicant has applied for site plan approval to develop a lifestyle center as Phase II of the Town Center. A lifestyle center is a permitted use in the TC1 (Town Center) zoning district. The lifestyle center project is proposed to replace the mixed -use Town Center project approved in 2003 as Phase II of the master plan for the overall site. Phase I is the existing Venture East and Venture West residential condominium buildings. The current proposal is a $5,545,000 million upgrade to the existing plaza to create a lifestyle center as Phase II of the overall Town Center master plan , including the following: 1. Demolition of approximately 3,000 square feet of the existing one story retail buildings to provide entrances to a new major tenant and improve pedestrian circulation in the plaza; 2. Addition of approximately 1,000 square feet to existing tenant spaces with plans for future addition of 5,200 square feet of retail space. The net increase in floor area resulting from the demolition and new addition is 3310 square feet of retail space. 3. Reconfiguration of the entrance drive from Biscayne Boulevard, including new landscaping, and construction of a new exit drive at the northwest limit to improve traffic circulation on site; [I 3. Reconfiguration of five parking fields to add 20 new parking spaces; 4. Improvement of all building facades; 5. Improvement to all pedestrian walkways, including new pavers, water features, seating areas, decorative landscaping and gazebo; 6. New pedestrian sidewalk connections from Biscayne Boulevard, NE 29 Avenue and NE 187 Street; 7. Drainage improvements to connect all wells on site; 8. Construction of a new service drive along the east boundary of the plaza with the existing residential building, to provide for access to the loading area for the new anchor tenant. This service drive will include reconfiguration of the turning circle at the Venture West condominium and a new parking area to the west. This will require a modification to the Reciprocal Easement Agreement between the applicant and the Venture; 9. Construction of a shelter and shuttle bus stop and bike racks in the plaza; and 10. An increase of approximately 8,700 square feet of green space and an increase of approximately 18,000 square feet of common open space. ANALYSIS Consistency with Comprehensive Master Plan - The request is consistent with the City of Aventura Comprehensive Plan. The future land use designation of the parcel is Town Center. This proposed development is Phase II of the Town Center, with the residential portion previously developed as Phase I, and is consistent with the purpose and design of a Town Center as described in the Comprehensive Plan. Citizen Comments — As of the date of writing of this report, no written or verbal complaints /comments from citizens have been received. Community Development Department Analysis — The applicant has submitted its application for site plan approval to redevelop the existing one story retail plaza into a lifestyle center. Although the applicant proposes many beneficial improvements and upgrades to the plaza, some of the existing conditions of the current configuration which was built prior to adoption of the City's Land Development Regulations, including parking fields and open space, do not comply with current site development criteria of the City Code. City staff has reviewed the site plan submitted by the applicant and finds that it does comply with the following site development criteria: 1. Minimum lot size and width; 2. Maximum lot coverage; 3. Maximum floor area ratio; 4. Maximum height; 5. Minimum number of parking spaces; 6. Minimum front, side street and rear yard setbacks; 7. Maximum residential to non - residential density /intensity required by the Town Center zoning district. The lifestyle center proposal does not comply with the following six (6) site development criteria of the City Code, those being; the minimum percentage of open space, the minimum size of parking spaces, the minimum setback of parking pavement to the right of way, the minimum perimeter landscape buffers for parking areas, the minimum width of parking area terminal islands and divider medians and minimum width and number of interior islands. The applicant has requested approval of variances to these six criteria. Exhibit #4 to this report shows the location of each of the requested variances. Criteria for Review - The standards of review for variance requests are found in Section 31- 76(e)(1) through (5) inclusive of the City's Land Development Regulations. The Code states that "a variance shall be granted only where competent and substantial evidence presented in the particular case shows that all of the following [standards of review] are met..." Each variance request is evaluated below using those standards of review. Request #1: Variance from Section 31.145(b)(5) of the City's Land Development Regulations to allow 29.35% open space, where a minimum of 35% open space is required by Code. The TC1 (Town Center) zoning district site development criteria requires that a minimum of 35% of the total lot area shall be provided as common open space, of which a minimum of 17.5% shall be landscaped with grass and vegetation and the remaining 17.5% may be used for recreational facilities, amenities, pedestrian walks, entrance landscaping and features or maintenance facilities. The site plan application proposes 19.52% landscaped green space and 9.82% common open space consisting of amenities, pedestrian walks, entrance landscaping and features. The following is an analysis of Section 31 -76(e) of the City Code as it relates to this request. (1) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the hardship at this location is caused by particular physical condition of the property, that is, the existing built condition of the plaza creates the reduced open space area. While the applicant has increased the open green space E:3 through parking field and entrance drive reconfiguration and has increased open common space through demolition of portions of the existing buildings, the resulting 29.35% open space does not meet the 35% required by Code. (2) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the conditions upon which the request for variance are unique to this parcel and would not be generally applicable to other property within the vicinity. The development was built prior to the adoption of the City Code and is constrained by previous development of the Phase I residential buildings. (3) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately created by the applicant. (4) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The proposed improvements to the building facade, amenities, parking, traffic circulation, sidewalks and drainage improvements will be a benefit to the public. (5) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. There are proposed traffic circulation improvements on site that will benefit all users. Request #2• Variance from Section 31.171(a)(6)a. of the City's Land Development Regulations to allow a parking stall width of 8.4 feet and 8.5 feet, where a minimum parking stall width of 9 feet is required by Code. The proposed site plan includes reconfiguration of four parking rows along Biscayne Boulevard and the new entrance drive from Biscayne Boulevard, with nineteen new spaces and interior islands. All new spaces and islands comply with the size requirements of the City Code. The remaining existing spaces in the parking row adjacent to Biscayne Boulevard south of the entrance drive are 8.4 feet wide. The 0 remaining existing spaces in the parking row adjacent to Biscayne Boulevard to the north of the entrance drive are 8.5 feet wide. The following is an analysis of Section 31 -76(e) of the City Code as it relates to this request. (1) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the hardship at this location is caused by particular physical condition of this property. The applicant has added new parking spaces that comply with the size of space and number of spaces between interior islands, however, the applicant advises that reconfiguration of the rest of the parking row to comply with City Code would result in a loss of spaces that would not be beneficial to the plaza users. (2) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the non - conforming size of parking space and the loss of number of parking spaces in order to bring the parking row into compliance makes this request unique and not generally applicable to other property within the vicinity. (3) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately created by the applicant. The non - conforming condition is existing. (4) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. (5) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. Request #3: Variance from Section 31.171(a)(7) of the City's Land Development Regulations to allow a 4 foot wide landscaped setback from the public right of 10 way to the edge of parkins pavement along the south side of the parking area and to allow a 5 foot wide landscaped setback from the public right of way to the edge of parking pavement along the west side of the parkina area, where a minimum 10 foot wide landscaped setback is required by Code. The landscaped setback to the existing parking pavement along NE 187 Street is 4 feet and the existing parking pavement landscaped setback along Biscayne Boulevard is 5 feet. The minimum 10 foot wide setback is required by Code. The applicant is requesting this variance to maintain the existing parking rows. The following is an analysis of Section 31 -76(e) of the City as it relates to this request. (1) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the hardship at this location is caused by particular physical condition of this property. The parking setbacks of 4 feet and 5 feet are an existing condition. In order to comply with the Code, a potential loss of 70 parking spaces may occur. (2) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the non - conforming setback of parking space and the potential loss of number of parking spaces in order to bring the parking rows along Biscayne Boulevard and NE 187 Street into compliance make this request unique and not generally applicable to other property within the vicinity (3) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately created by the applicant. The non - conforming condition is existing. (4) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. There is a 10 foot wide public sidewalk on Biscayne Boulevard to the west of the parking pavement setback, providing a 15 foot wide setback to the edge of pavement in the right of way. There is a 7 foot wide public sidewalk on NE 187 Street to the south of the parking pavement setback, providing an 11 11 foot wide setback to the edge of pavement in the right of way. (5) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. The non - conforming conditions are existing. Request #4• Variance from Section 31.221 (i)(3)a.1 of the City's Land Development Regulations to allow a 5 foot wide terminal landscaped island in a parking row and to allow a 6 foot wide terminal landscaped island in a parkina row, where a minimum 7 foot wide landscape island at both ends of parkina rows is required by Code. The reduced terminal island width of 5 feet and 6 feet occurs the terminus of the center parking row of the parking field in the northwest corner of the site. The condition is existing. The following is an analysis of Section 31 -76(e) of the City as it relates to this request. (6) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the hardship at this location is caused by particular physical condition of this property. The 5 foot wide and 6 foot wide terminal island in the center parking row of the parking field in the northwest corner of the strip is existing. In order to comply with the Code, a potential loss of 6 parking spaces may occur. (7) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the non - conforming terminal island widths and the potential loss of number of parking spaces in order to bring the buffer strip into compliance makes this request unique and not generally applicable to other property within the vicinity (8) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately 12 created by the applicant. The non - conforming condition is existing. (9) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. (10) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. The non - conforming conditions are existing. Request #5• Variance from Section 31.221 (i)(3)a.2 of the City's Land Development Regulations to allow parking rows with more than nine contiguous parkina spaces without a landscaped island, where a minimum of one 7 foot wide landscape island for every nine parking spaces is required by Code. The non - compliant condition occurs in (1) the parking row adjacent to Biscayne Boulevard to the north of the entrance drive, where there are 12 contiguous parking spaces without a landscaped island; (2) in the parking row adjacent to Biscayne Boulevard to the south of the entrance drive, where there are 12 contiguous parking spaces in a row without a landscaped island; (3) in the parking row to the south of the plaza buildings, where there are 10 spaces and 11 spaces without a landscaped island; and (4) in the center parking rows in the northwest corner of the site, where there are 15 contiguous parking spaces without a landscaped island. Conditions (1) and (2) above occur as a result of the addition of 2 new parking spaces to each row. Condition (3) above occurs as a result of the addition of 1 new parking space to each row row and due to the reconfiguration of existing parking fields to the east. Condition (4) is existing. The following is an analysis of Section 31 -76(e) of the City as it relates to this request. (11) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. The applicant advises that the hardship at this location is caused by particular physical condition of this property. The applicant has added 20 new parking spaces to the site and has reconfigured 8 parking rows to comply with City Code. In order to increase the number of parking spaces for user convenience, some rows lack the landscaped island required by Code for each nine contiguous spaces. 13 (12) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the existing non - conforming rows and the resultant loss of number of parking spaces in order to bring the parking rows into compliance makes this request unique and not generally applicable to other property within the vicinity (13) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately created by the applicant. (14) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. (15) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. Request #6• Variance from Section 31.221(i)(3)a.2 of the City's Land Development Regulations to allow a 0 foot wide divider median, a 3.9 foot wide divider median and a 4.8 foot wide divider median for abutting rows of parking spaces or for rows abutting an interior driveway, where a minimum 7 foot wide divider median is required by Code. The reduced width of divider median occurs (1) in the abutting center parking rows of the northwest parking field, where no divider median exists; and (2) in the parking row south of the plaza buildings, where a 3.9 foot wide divider median exists; and (3) in the parking row north of the plaza buildings, where a 4.8 foot wide divider median exists. The following is an analysis of Section 31 -76(e) of the City as it relates to this request. (16) The particular physical surroundings, shape, topographical condition, or other physical or environmental condition of the specific property involved would result in a particular hardship upon the owner, as distinguished from a mere inconvenience, if the regulations were carried out literally. 14 The applicant advises that the hardship at this location is caused by particular physical condition of this property. The abutting rows of parking without a divider median, the 3.9 foot wide divider median and the 4.8 foot wide divider median are all existing conditions. In order to comply with the Code, a potential loss of 34 parking spaces may occur. (17) The conditions upon which the request for a variance is based are unique to the parcel and would not be generally applicable to other property within the vicinity. The applicant advises that the non - conforming divider median widths and the potential loss of number of parking spaces in order to bring the median widths into compliance makes this request unique and not generally applicable to other property within the vicinity (18) The alleged difficulty or hardship is not economic and has not been deliberately created to establish a use or structure, which is not otherwise consistent with the LDR. The applicant's difficulty is not economic in nature and the difficulty was not deliberately created by the applicant. The non - conforming condition is existing. (19) The granting of the variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. The variance will not be detrimental to the public welfare or injurious to other property or improvements in the vicinity. (20) The proposed variance will not substantially increase the congestion in the public streets, or increase the danger of fire, or endanger the public safety, or substantially diminish or impair property values within the vicinity. The variance will not substantially increase traffic congestion or increase the danger of fire or endanger the public safety or substantially diminish or impair property values. The non - conforming conditions are existing. 15 B E RCOW RADG LL & FERNANDEZ ZONING, LANE3 USE AND ENVIRONMENTAL LAW DIRECT LINE: 305 - 377 -6238 E -MAIL: mmarrero ftrzoninglaw.com CpM�uN1TY O�LOMAW UPA VIA FACSIMLE AND E -MAIL 'ITY OF AVEt4 February 14, 2013 FEB 2 1 2013 Ms. Joanne Carr Community Development Director City of Aventura 19200 West Country Club Drive, 4, Floor Aventura, Florida 33180 Re: Variances for Town Center Aventura at 2711 NE 187 Street, Aventura, Florida Dear Joanne: This law firm represents Aventura Fashion Island, LP and Turnberry Associates, Inc. (the "Applicant "), with regard to an application for several variances required for a proposed lifestyle center, Town Center Aventura at 2711 NE 187t" Street (the "Property "). The Applicant acquired the area designated Town Center and zoned TC1, in 2006 with plans of redeveloping the existing Loehmann's Plaza. Then, the TC1 zoning district only permitted B1 commercial uses within the center. It had always been the Applicant's intention to work with the City to expand the permitted uses, while still maintaining the Town Center's character. In 2010, the Applicant proposed a limited code amendment to permit a slight expansion of the permitted uses in TC1. The amendment, which was approved by the City Commission, permitted certain uses (including book stores, pet shops dancing and theater academies and furniture stores) at higher square footages than were otherwise permitted in TC1. Unfortunately, these specific changes were never utilized by potential tenants, and the Applicant is now proposing a more global change that will permit a Lifestyle Center at Loehmann s Plaza. Exhibit #1 03- VAR -13 WACHOVIA FINANCIAL CENTER • 200 SOUTH BISCAYNE BOULEVARD, SUITE 850 • MIAMI, FLORIDA 33131 PHONE. 305.374.5300 • FAX. 305.377.6222 • WWW.BRZONINGLAW.COM Ms. Joanne Carr February 14, 2013 Page 2 The Applicant continued to work with staff to craft an ordinance that would help revive the center, in addition to being consistent with the objectives of the underlying Town Center. Ultimately, the Lifestyle Center concept arose as something that would achieve the retail commercial goals of the center, while still upholding many of the elements that make a town center unique, including pedestrian walkways, street furniture, water features and gathering areas. The ordinance permitting a Lifestyle Center with the Town Center district was approved earlier this year. While the Property is currently a retail commercial center, generally similar to what is proposed, there are several important changes that are intended to improve the customer and pedestrian experience on the site. The proposed site plan includes many additional features that were part of the conceptual discussions during the Lifestyle Center legislative process. These include a fountain, a gazebo, additional and updated landscape, and improved pedestrian walkways and circulation. Furthermore, the green space was increased from 104,196 square feet to 112,930 square feet and the common space was increased significantly from 57,580 square feet to 75,539 square feet. This resulted in an increase to the overall open space from 161,776 square feet to 188,469 square feet. The parking spaces on the site were also increased from 1,001 spaces to 1,050 spaces. Additionally, the floor area ratio (FAR) for the site was decreased from 0.245 to 0.218, which will further provide for a more open and landscaped project. The project requires several variances to the Town Center regulations. First, a variance to Section 31- 171(a)(6)(a) will be required to permit the retention of the existing parking lot dimensions. This section requires that each parking space be not less than 9 feet in width and 18 feet in length. The existing spaces in the center were built prior to the City's incorporation and the adoption of this code requirement. Thus they have remained as legally nonconforming up to this point. Adhering to this code requirement would have a devastating effect on the center as it would result in the loss of over 100 spaces. A variance to Section 31- 171(a)(7) is required for similar reasons. This section requires the edge of all parking pavement and access roads to be set back a minimum of 10 feet from the right of way. Again, the existing conditions do not comply with this later adopted requirement. The proposed plan provides for a great deal more landscaping than currently exists on the site, and more than was approved previously. However, BCRCOW RADGLL & FERNAN DEZ ZONING. LAN[ USE ANO ENVIRONMENTAL LAW Ms. Joanne Carr February 14, 2013 Page 3 it still falls short of the existing code requirement in certain areas. For example, a variance will be required from Section 31- 221(1)(2), pertaining to the width of landscape buffers - which remain nonconforming. Similarly, a variance will be required from Section 31- 221(i)(3)(a)(1) regarding all contiguous rows of parking to be terminated by landscaped islands. Finally, a variance to Section 31- 221(i)(3)(a)(2), which requires that all landscaped interior islands be at least seven feet in width and 90 square feet in size, and shall be located at every nine parking spaces. Finally, a variance from Section 31 -145 (b)(5)(h) will be required to allow common open space of 29.35%, where a minimum 35% common open space is required by Code. Overall, these variances are necessary to ensure that the site retains as much of the existing parking as possible. Full compliance with the code would result in a severe diminishing of the parking count at the center. For all the foregoing reasons, the applicant respectfully requests your department's favorable review and recommendation of this variance application. Should you have any questions, comments, or require additional information, please do not hesitate to phone my direct line at (305) 377 -6238. Sincerely yours, /T//47�� Michael J. Marrero BCRCOW RADGLL & FERNAN DEZ ZONING, LANG USE ANO ENVIRONMENTAL LAW 03- VAR -13 Exhibit #3 03- VAR -13 LEGAL DESCRIPTION OF PROPERTY A portion of Tracts A & B, Regina Square Subdivision, according to the Plat thereof, as recorded in Plat Book 113, at Page 27, of the Public Records of Miami- Dade County, Florida, being more particularly described as follows: Commence at the Northwest corner of said Tract A; thence South 84 °49'44" East, along the north line of said Tract A; for 223.65 feet to the Point of Beginning of the hereinafter described parcel of land; thence continue South 89 049'44" East along the north line of said Tract A for 53 feet; thence South 00 °45'38" East for 198.74 feet; thence South 89 °56'45" East for 283.39 feet; thence South 00 °03'15" West for 149.50 feet to a point on the south line of said Tract A; thence South 89 056'45" East along the south line of said Tract A also being the north line of said Tract B for 361.66 feet to the northeast corner of said Tract B; thence South 00 038'10" East along the east line of said Tract B for 496.76 feet; thence North 89 05645" West along the northerly boundary of The Venture at Aventura, a Condominium for 616.05 feet; thence South 00 °03'15" West along the west line of said The Venture At Aventura, a Condominium for 443.27 feet; thence North 89 056'45" West along the south line of said Tract B for 632.79 feet to a point of curvature; the following three (3) courses being along the Easterly right of way of Biscayne Boulevard, U.S. Highway No. 1 per O.R.B. 17360, Page 3655 of said Public Records of Miami -Dade County, Florida. (1) thence Northwesterly and Northeasterly along a 26.25 foot radius curve leading to the right through a central angle 98 046'49" for an arc of 45.26 feet to a point of reverse curvature; (2) thence Northeasterly along a 4709.83 foot radius curve leading to the left through a central angle of 3 017'00" for an arc of 269.90 feet to a point of compound curvature; (3) thence Northeasterly along a 5828.53 foot radius curve leading to the left through a central angle of 2 042'02" for an arc of 274.72 feet; the following three courses being along the Southerly, Easterly and Northerly boundary line of Jaffe Building, Inc. property as described in O.R.B. 19137 at Page 2349 of the Public Records of Miami -Dade County, Florida. (1) thence South 89 056'45" East for 178.24 feet; (2) thence North 00 003'15" East for 228.32 feet; (3) thence North 89 052'41" West for 171.56 feet to a point on a circular curve concave to the West and whose radius bears North 89 023'49" West; the following two courses being along said Easterly right of way line of Biscayne Blvd., U.S. Highway No. 1. (1) thence Northeasterly along a 5828.53 foot radius curve leading to the left through a central angle of 00 008'14" for an arc of 13.96 feet to a point of tangency; (2) thence North 00 027'57" East for 47.78 feet; the following three courses being along the Northerly and Westerly boundary of said Tract B; (1) thence South 89 052'41" East for 439.96 feet; (2) thence North 00 045'38" West for 78.26 feet; (3) thence South 89 056'45" East for 73.50 feet; thence North 00 °45'38" West for 348.36 feet to the Point of Beginning. LESS AND EXCEPT therefrom those lands conveyed to Miami -Dade County by Warranty Deed recorded in Official Records Book 24625, Page 468 and Official Records Book 25690, Page 3708, Public Records of Miami -Dade County, Florida and being described as follows: A portion of Tract B, Regina Square Subdivision, according to the Plat thereof as recorded in Plat Book 113, Page 27 of the Public Records of Miami -Dade County, Florida, lying in the SW '/4 of Section 3, Township 52 South, Range 42 East, City of Aventura, Miami -Dade County, Florida and being more particularly described as follows: Commence at the Northeast corner of Tract C of said Regina Square Subdivision according to the Plat thereof as recorded in that Plat Book 113, Page 27 said corner being a point on the West right of way line of N.E. 29th Avenue; thence N 00 °38'10" W along said West right of way line and East line of said Tract B for 98.01 feet to the Point of Beginning of hereinafter described parcel of land; thence continue N 00038'10" W along said West right of way line and said East Tract line for 12.00 feet, the following seven courses being perpendicular to or parallel with the preceded course: (1) thence S89 021'50 "W for 10.00 feet; (2) thence N00 °38'10 "W for 22.67 feet; (3) thence S89 021'50 "W for 50.00 feet; (4) thence S00 °38'10 "E for 55.00 feet; (5) thence N89 °21'50 "E for 50.00 feet; (6) thence N00 °38'10 "W for 20.33 feet; (7) thence N89 °21'50 "E for 10.00 feet to the point of beginning. — r= BISCAYNE BOULEVARD ` (U.S. HIGHWAY No. F — - - —r� — - -- -- ( ST OAD_Ajo.Sl- - s i IN 4' D D D 3 y1 .� i' [_ rn y z m £ LJ� .. m '+t 4 s[ 9E p m I �I� D _ gg f f� rifer i$➢ rmn m _ y z�� D In Ir xr .a g to _II r i I v 4'1''- f r,, D m { ' ;s�E s :9 $ .�[ M. 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HI �ri =E �; (P I WHIR Az i � � BOHLER 3� € •aJ g 3$>G �'[ a� o E N G I N E E Y I N G fig APPLICANT REPRESENTATIVE AFFIDAVIT AWL-4 Pursuant to Section 31- 71(b)(2)(i) of the City of Aventura Land Development Code, this Applicant Representative Affidavit is hereby made and submitted. The undersigned authorized representative of the individual or entity applying for the Development Permit, which is identified in the accompanying application, and the owner of the property subject to the application (if different) hereby lists and identifies all persons representing the individual or entity applying for the Development Permit in connection with the application, as follows: Name Relationship (i.e. Attorneys, Architects, Landscape Architects, Engineers, Lobbyists, Etc.) Ma rr-e,e A f4_0 r/7 �o�rL 'T�01 c0 �S o n L a- r'd -rc' K,1 A arn, &64 LeW i n �Zr', 5-U f v e o r — (Attach Additional Sheets It Necessary) NOTICE. ANY STATEMENT OR REPRESENTATION MADE BY ANY PERSON LISTED ON THE APPLICANT REPRESENTATIVE AFFIDAVIT SHALL BE BINDING UPON THE INDIVIDUAL OR ENTITY APPLYING FOR THE DEVELOPMENT PERMIT AND THE OWNER OF THE SUBJECT PROPERTY. APPLICANTS AND AFFIANTS ARE ADVISED TO TIMELY SUPPLEMENT THIS AFFIDAVIT PURSUANT TO SEC. 31- 11(B)(2)(IV) OF THE CITY'S LAND DEVELOPMENT REGULATIONS IN THE CITY CODE, IN THE EVENT THAT PRIOR TO CONSIDERATION OF THE APPLICATION BY THE CITY BOARD OR COMMISSION, THE INFORMATION PROVIDED IN THE AFFIDAVIT QECOMES INCURRU; I UK INCUMFU I t. yo WITNESS MY HAND THIS I .. DAY OF AUTHOR{ZED PR" NTATIVE OF DCANT: BY: - -- AA — lure) Name:1' `t G ign /l �o (Print) Title _Ap 0 f /1-11111` Address: _...a O I S 4 y Mt % ✓��jd STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) OWNER A( tgnature) Name:-__.. In �QM s7�ly1 Print) 1 Title pr ^tom,�n 1 Address: z�D I gi.SC3 AV& �v� � L Before me the undersigned authority personally appeared M, `v` W y 0 as the authorized representative of the Applicant andlor the owner of the property subject to the application, who being first by me duty swo , did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. - AFFIANT _ SWORN TO AND SUBSCRIBED BEFORE ME this day of SMN -1 200' ✓ M Notary Pudic State of Florida Diana Ramos My Commission EE082284 Expires 04/10/2015 N ry Public State of Florida A(��rg� Printed Name of Notary ((�� My commission expires:_._ — .. BUSINESS RELATIONSHIP AFFIDAVIT* This Affidavit is made pursuant to Section 31- 71(b)(2)(fi) of the City of Aventura Land Development Code. The undersigned Affiant hereby discloses that: (mark with "x' applicable portions only) rl'J t Affiant does not have a Business Relationship with any member of the City Commission or any City .Advisory Board to which the application will be presented. [ ] 2 Affiant hereby discloses that it does have a Business Relationship with a member of the City Commission or a City Advisory Board to which the application will be presented, as follows (List name of Commissioner or Advisory Board Member) who serves on the (List City Commission or City Advisory Board upon which member serves). The nature of the Business Relationship is as follows: [ ] i. Member of City Commission or Board holds an ownership interest in excess of 1% of total assets or capital stock of Applicant or Representative: [) ii. Member of City Commission or Board is a partner, cc- shareholder (as to shares of a corporation which are not listed on any national or regional stock exchange) or joint venturer with the Applicant or Representative in any business venture; [ ] iii. The Applicant or Representative is a Client of a member of the City Commission or Board or a Client of another professional working from the same office or for the same employer as the member of the City Commission or Board, [ j iv. A City Commissioner or Board member is a Client of the Applicant or Representative; [ l v. The Applicant or Representative is a Customer of the member of the City Commission or Board (or of his or her employer) and transacts more than $10,000.00 of the business of the member of the City Commission or Board (or his or her employer) In a given calendar year: [ ] vi. The member of the City Commission or Board is a Customer of the Appfican or Representative and transacts more than $25,000.00 of the business of the Applicant or Representative in a given calendar year. WITNESS MY HAND THIS e1DAY OF {!� 200 APPLICANT By: / Iv (Signature) me Na ri L AC 4 rr? r o (Print) Title:, r A __0100 WITNESS MY HAND THIS `_7r- DAY OF 20J3 PRO�P/ERT`( �VV�r-� By: _/` 'ty�_ (Signature) Name - (Print) Title:_ OWA4r (Print) 'The term~ Business Relationship, ` "Client, " "Customer, " "Appficarrt, " "Representative" and 'Interested Person' are defined in Section 2 -395 of the Aventura City Code. fill BUSINESS RELATIONSHIP AFFIDAVIT* �M.F.I. This Affidavit is made pursuant to Section 31.71(b)(2)(6) of the City of Avenlura Land Development Code. The undersigned Affiant hereby discloses that: (mark with 'x' applicable portions only) X. Affant does not have a Business Relationship with any member of the City Commission or any City Advisory Board to which the application will be presented. [ ] 2, Affiant hereby discloses that it does have a Business Relationship with a member of the City Commission or a City Advisory Board to which the application will be presented, as follows: (List name of Commissioner or Advisory Board Member) who serves on the (List City Commission or City Advisory Board upon which member serves). The nature of the Business Relationship is as follows: [ 1 i. Member of City Commission or Board holds an ownership interest in excess of 1% of total assets or capital stock of Applicant or Representative; (J ii. Member of City Commission or Board is a partner, co- shareholder (as to shares of a corporation which are not listed on any national or regional stock exchange) or joint venturer with the Applicant or Representative in any business venture; [ J iii The Applicant or Representative is a Client of a member of the City Commission or Board or a Client of another professional working from the same office or for the same employer as the member of the City Commission or Board; [ J iv. A City Commissioner or Board member is a Client of the Applicant or Representative: [ J v. The Applicant or Representative is a Customer of the member of the City Commission or Board (or of his or her employer) and transacts more than $10,000.00 of the business of the member of the City Commission or Board (or his or her employer) in a given calendar year; (] vi. The member of the City Commission or Board is a Customer of the Applicant or Representative and transacts more than $25,000,00 of the business of the Applicant or Representative in a given calendar year. WITNESS MY HAND THIS DAY OF 200_. APPLICANT: By (Signature) Name: (Print) Title. (Prial) WITNESS MY HAND THIS DAY OF _200_ PROPERTY OWNER: By: (Signature) Name:_ (Print) Title, (Prinl) 'The leans Business Relationship, " "Client, " Customer, " Applicant, " ` Repiesentaltve" and %nierested Person" are defined in Section 2.395 of the Aventure City Code. WITNESS MY HAND THIS ADAY OF 20t-3 REPRESENTATIV led on Business Relationship Affidavit) By:_ (Signature) By __ I Signature Name:61 G G at I ! eyr�fPrin1i Name: .... (Print) Title: A4'+ ;Print) Title: .._ ......... _ __ (Print) By ..__ .... .. ,(Signature) Name:.__ (Print) Title: (Print) By: (Signature,) -_-- Name: (Print) Title: .(Print,) By: __ (Signature) Title: _ _ (Print) Title: (Print) _(Signature) Title- Ti (Print) By: (Signature) Title Title: (Pant) By:__. _ _ (Signature Name: (Print) Title: (Print) Bye (Signature Name:_._ (Print) ("Print) (Signature Title: --(Print)' Title (Print) By: ------ (Signature Title: (Print) Title By . .... (Signature Title: -(Print) Title:- - -_.._ NOTE: 1) Use duplicate sheets if disclosure information for Representative varies 2) Applicants and .Affiants are advised to timely supplement this .Affidavit pursuant to Sec. 1- 71(b)(2 ,i(iv) of the City's Land Development Regulations in the City Code, in the event that prior to consideration of the application by the City Board or Commission, the information provided in the .Affidavit becomes incorrect or incomplete. WITNESS MY HAND THIS _1! _ DAY OF f�%X"u« Cl- —, 2013 REPRESENTATIVE: (Listed on Business Relationship Affidavit) By-_ _ (Signature) By �' J (Signature Name. (Print) Name: ! �'� ,�9/��Yt Et— (Print) Title (Print) Title:- �(Print) By: _ (Signature) Name: (Print) Title: __- _ (Print) By:_ ______ (Signature) Name: _ _ (Print) Title: _ (Print) By (Signature) Title: _. ____( Prrnt) Title: (Print) By: Title (Print) Title: (Print) By: (Signature) Title: (Print) Title: (Print) By: _,._ (Signature Name:___ (Print) Title: __ (Print) By: (Signature Name: (Print) Title: __ _ --- _ __ (Print) By: _ _ ___ _— (Signature Title: (Print) Title: (Print) By:,- (Signature Title:___ _ _ __ (Print) Title:_. _ . -_ _ -_- ( Prrnt) By , (Signature Title:.. Title: . (Print) NOTE: 1) Use duplicate sheets if disclosure information for Representative varies 2) Applicants and Affiants are advised to timely supplement this Affidavit pursuant to Sec. 31- 71(b)(2)(iv) of the City's Land Development Regulations in the City Code, in the event that prior to consideration of the application by the City Board or Commission, the information provided in the Affidavit becomes incorrect or incomplete. WITNESS MY HAND THIS -.2'0- DAY OF R� -, 20V . . . ....... (Signwure) Name (Print) Title:_,___, REPR SUE AT *-s on Business Relationship Affidavit) By: _(';iqnwure) By: By Title: Name:. dwx'6vt Name: _(Print) Title: (Pri n4) By. Name:­­­ _(Print) Name:­ -(Print) Title:- 0`000 Title: (Print) By . . . ....... (Signwure) Name (Print) Title:_,___, (Print) By: _(';iqnwure) Tifle:­­­­,­ JF — __(Print) Title: tPrini) By:___ ­ _(Signature) Title-_,, Tifle: By — —_(Signature) Title: (Pr1n7) Title:­­­­_ _(Print) By: (Signature Name ­­ (Print) Title:­­- (SIgrixure Title: __ _(Pfiq) By: (Signature Title:_ Title:_ (Printi By:­' (.Signature Tifle, Title' ­,- NOTE: 1) Use duplicate sheets if disclosure information for Representative varies 2) Applicants and Affiants are advised to timely supplement this Affidavit pursuant to Sec. 3 1-7 1 (b)(210v) of the City's Land Development Regulations in the City Code, in the event that prior to consideration of the application by the City Board or Commission, the information provided in the Affidavit becomes incorrect or iTICOrnplete. WITNESS MY HAND THIS _ DAY OF .2013 REPRESENTATIVE: (Liste on Business Relationship Aifidavitl By ,_ (S,gfmml< e,; By {Sigrratt,re Name:��7 c U, '� hi( 7 ' anti Name — _IPnnti Title A le C if 17E <- T Printr T e: (Pnnti By: (Signature) By: ( Signature Name: (Print) Name (Prior) Title: (Print) Title: (Print) By: _ (Signature) By (Signature Name: _(Print) Name: (Print) Title: (Print) T't e: (Print By: ( Signature) By: _ ( Signature Title: _ _(P "00 Title (PrritU Titre: (Pont) Title: _ _ _ (Pont) By: _ (Signatuure) By. ( Sigoature Title (Print) Title: (Pont) Title: (Print) Title: _ _ (Pont) By: (Signature) By: (Signature Title: _(Print) Title: _ _ .__(Piin) Title: (Print) Title: _(PonO NOTE: 1) Use duplicate sheets if disclosure information for Representative varies '_) applicants and .Affiant, are ad\ised to timel} supplement this :Affida\it pursuant to Sec. 31- 71(b)t2 i(i\ ) of the City's Land Development Regulations in the Cit} Code, in the e\ent that prior to consideration of the application by the City Board or Commission, the information proNided in the .Affida\it becomca incorrect or incomplete. WITNESS MY HAND THIS 2Z'A DAY OF 2013 REP n Business Relationship Affidavit) By:­ Z;7� (tSInature) By: - _ (Signature Name: -awl n iQ,v� r� � Name:,_., (Print) Title:- -iii e e " PY W-51 1 �40rint) Title:- - _ -_ (Print) By:_-. (Signature) Name:_- (Print) Title: By: (Signature Name-— ----(Print) Name: (Print) Title: (Print) By: (Signature) Title: Title: _ _(Print) Title. (Print) By:­. (Signature) Title: (Print) Title (Print) By: (Signature) Title: (Print) Title: (Print) By:_ -- (Signature Name: (Print) Title:_ -_ (Print) By: (Signature Name-— ----(Print) Title :___ — _. (Print) By: (Signature Title: (Print) Title: (Print) By:. , ___ (Signature Title: (Print) Title: - -- _ -,- — (Print) By: _ (Signature Title: — - -- - - -- _. _ y (Print) Title:_ _ (Print) NOTE: 1) Use duplicate sheets if disclosure information for Representative varies 2) Applicants and Affiants are advised to timely supplement this Affidavit pursuant to Sec. 31- 71(b)(2)(iv) of the City's Land Development Regulations in the City Code, in the event that prior to consideration of the application by the City Board or Commission, the information provided in the Affidavit becomes incorrect or incomplete. NOTARIZATION PROVISION STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared r"v_��`�i�'7AFMFIANT by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. SWORNTa, AN v`�'V �0 ..___.2o,�_i� '►t,�`� Nciary Public State of Florida 1' Diana Ramos N cy Public t f lords At Ile 'why Commission EE082284 19t_ x Aires 04/10/2015 0 inled Name of Notary ?' + °' °+° +� ✓°ti My commission expires STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me the undersigned authority, personally appeared __, __—_. executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this -_..__ day of _a 200_ STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared _______ - executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this ­, ­ day of -_,,__.__,,, _; 200: STATE. OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared__,___ executed this Affidavit for the ouriaoses stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this-, the Affiant, who being first by me duly sworn, did swear or affirm that he/she AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires ^_ the Affiant, who being first by me duly sworn, did swear or affirm that he/she AFFIANT Notary Public State of Flonda At Large Printed Name of Notary My commission expires:__u.. the Affiant, who being first by me duly sworn, did swear or affirm that he /she AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires:_ .. _ ..... _ .. NOTARIZATION PROVISION STATE OF FLORIDA ) COUNTY OF MIAMI•DADE) JL Before me, the undersigned authority, personally appeared J"� rt q* tlt* Alfiant who being fir" me duty swan, dd swear cr affirm that hershe executed this Affidavit for the purposes stated therein and that 9:s hue and correct �A AFFiANT SWORN TO AND SUBSCRIBED before me Anse_ day of I (j 2000 N P Vlate o . y� AGHLE MY Lb11UlON f �f021162 6 �� hI�I M1f411t My co Name of Notary My commission expires _ -_ - STATE OF FLORIDA ) COUNTY OF MIAMI•DADE) Before me the undersigned authority. personalty appeared _ _ _ _. the Atfianl, who being first by me duty swan, did swear or aHxm that he/she executed this Affidavit for the purposes stated therein and that it is we and correct AFFIANT SWORN TO AND SUBSCRIBED before me this — day of __, ,_,_, 200_ Notary Public Slate of Florida At large Pri _.. _ nted Name of Notary My commission "Pres. _ STATE OF FLORIDA ) COUNTY OF MIAMI -DADS) Before me, the undersigned authority, personally appeared _ the Affianl who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct AFFIANT — .___ --- SWORN TO AND SUBSCRIBED before me this ___ day of Notary Public State of Floods At Large Phnied Name of Notary My commission expres:__ STATE OF FLORIDA ) COUNTY OF MIAMI•DADE) Before me, the undersigned authority, pefsonady appeared _ _ _ _ _ the Affanl who being first by me duty sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is We and correct SWORN TO AND SUBSCRIBED before me this _ ___ day of 200_ AFFIANT Notary Public Slate of Florida At Large Primed Name of Notary My commission expires _- NOTARIZATION PROVISION STATE OF FLORIDA j COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared I � t 6fne4 the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct . % �:�—� /� ---� J. L. LaLmia NOTARY PUBLIC AFFIANT STATE OF FLORIDA ' SWORN TO AND SUBSCRIBED before me this H day of t�r�YUg(�, 2001.3 C(mm# EE072158 Expires 3/9/2015 Notary �Fkxida rge P rinted Name of Notary � \ � \�D My commission expires:_ 1 STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared _.._ .__ _ ._ the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. AFFANT SWORN TO AND SUBSCRIBED before me this -- day of — _ -- __200_ Notary Public State of Florida At Large Printed Name of Notary My commission expires:, _. STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared _ the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is hue and correct AFFIANT — _— — SWORN TO AND SUBSCRIBED before me this _ - day of _ _. __ _200— Notary Public State of Florida At Large Printed Nam of Notary My commission expires:_ STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared __ -- ._ _ _ -__ the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this - _ day of __ -,200— AFFIANT Notary Public Stale of Florida At Large Printed Name of Notary My commission expires:_ _ STATE OF FLORIDA } COUNTY OF MIAMI -DADE} NOTARIZATION PROVISION Before me, the undersigned authority, personally appeared Mf ill? k _ A�ct?S nrWAF t, wh e fr by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this ZQ day of _F�� 2013 •`�`+ 41! is °• =,G� '! IbN #EE200277 �' Ex e, Y.AY 20, 2016 N04 4, po taje,ofF16nrk�NP1 ®.gw-em STATE OF FLORIDA ) COUNTY OF MIAMI -DADE} Before me, the undersigned authority, personaVy appeared _.__.,_ executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this „__ day of 2C0_ STATE OF FLORIDA j COUNTY OF MIAMI -DADE Before me, the undersigned authority, personally appeared executed this Affidavit for the purposes stated therein and that it is true and correct. Printed Name of Notary M &(_ f ss 11• c61242 W a i; ) My commission expires:_MAy.2,C)_ oiu the Affiant, who being first by me duly sworn, did swear or affirm that he/she AFFIANT Notary Public State of Florida At Large Printed Name of Notary My commission expires;.___ the Affian'„ who being first by me duly sworn, did swear or affirm that he/she AFFIANT SWORN TO AND SUBSCRIBED before me this .___ _ day of,,- . 200_ Notary Public State of Florda At Large Printed Name of Notary My commission expires:_ -------------------------------- ---- -- ------- --- --------- ------ I - - TATE OF FLORIDA } COUNTY OF MIAMI -DADE} Before me, the undersigned authority, personally appeared _,._ _ _. _._... the Af6ant, who being first by me duly sworn, did swear or affirm that he /she executed this ANidavit for the purposes stated therein and that it is true and correcr AFFIANT SWORN TO AND SUBSCRIBED before me this -, , .day of 200-.. Notary Public State of Florida At Large Printed Narne of Notary My corn mission expires .............. NOTARIZATION PROVISION STATE OF FLORIDA COUNTY OFM01011.B*5 Q11M beach } Before me, the undersigned authority, personally appeared bet` * 0 • � t "'b "e Atfiant. who being first by me duly sworn, did Swear or affirm that trelshe executed this Affidavit for the purposes shed therein and That it is true and correct. ���,� i� 1 y , AFFIANT /� .� mcroi��i.�IS�` Of [�,r[!�, ,57�} 20#,�} wf< /.��a��L/!'i� 11 r��A�EW tl NMI PUW. 31�� of Florida Notary Public State of Florida At Large Comrtti W"EE19M �laud��'� �5 M)t OOf11fR, ex0ft Apt- 26.2016 Printed Name of Notary My commission expires:. 011'.W169 . STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me. the undersigned authority, personally appeared the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed Nis Affidavit for the purposes stated therein and that it is true and correct AR CANT SWORN TO AND SUBSCRIBED before me this day of • _ 200_ Notary Public State of Florida At Large Printed Name of Notary My commission expires:, — STATE OF FLORIDA j COUNTY OF MIAMI -DADE) Before me, the undersigned authority, perso rally appeared the Affianr, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes slated therein and that it is true and correct. AFFIANT SWORN TO AND SUBSCRIBED before me this day of Notary Public State of Fonda At Large Printed Name of Notary My commission expires:. ...................... — _ ...__.. _....... — _ -. .. STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me. me undersigned authority, personally appeared _ - the Affiant who being fast by me duly sworn, did swear or aRrm that he/she executed this Affidavit for the purposes stated therein and that it is true ana correct AFFIANT SWORN TO AND SUBSCRIBED before me this, . day of Notary Public State of Florida At Large Printed Name of Notary My commission expees:- NOTARIZATION PROVISION STATE OF FLORIDA ) COUNTY OF MIAMI -DADE) Before me, the undersigned authority, personally appeared t !N N —%N Zee Affanl, who duly sworn, did swear or affirm Ihagnerphe executed this Affidavit for the purposes stated therein and that it is true and correct. v I I I!! I// jz� \`G��STINq p�',i���i AFFIANT - - _ P.• • � 'd SWORN TO AND SUBSCRIBED before me this 2z day of 1 g-Z (V4KY ,20J3 _ Q.••3yQQ 25 /�� •• N - rc a At L argge�DOgB5518, Cf�'. _� � fl�6$ gq,9 a;�oaAh 1sts�? °.�'• My commission expires._ t?.4 45. '40 14 ��i�BIiC, STA������```� STATE OF FLORIDA ) COUNTY OF MIAMI•DADE) Before me, the undersigned authority, personally appeared _ the Affiant, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this. .— day of — 200_ AFF (ANT Notary Public State of Florida Al Large Printed Name of Notary My commission expires:__ STATE OF FLORIDA ) COUNTY OF MIAMI•DADE) Before me, the undersigned authority, personally appeared ___ _ the Affianl, who being first by me duly sworn, did swear or affirm that he/she executed this Affidavit for the purposes stated therein and that it is true and correct. SWORN TO AND SUBSCRIBED before me this __ _ day of _ _ -.200-. 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'4YF �i a ,�g ;i�Y 9!1 � }}Yyt�Y $�� Z ci #1 c �4= o L 3! i F�4H fie q9� at }_ti Ila! d i@ ro it 1dyga €s Fy �t R!g�gg IS �q6! i1 1s t 3`Q 41 Y [�9! y t%fi$$'d! _8t $ 318�a; is a% ill 911 gig 1111t $ -. [ %} !va 4 1 Y '3° p It ii 11 !$8 8 qu g� Y§[ j p4 Y` 0.Y $! 8!s ail !$ qL $ Y a $t 8 S1 q4 Qe �g8 1 MI � � Y $ IS 1��3 a "8 lea �fi !;4 5 331 3_ Y g %$g E lit 3!8 %pY flit � 't �[ } 8 8 t8 1g4i} c$ %;$3 i }g,! �S €a t P a m �11 is s TOWN CENTER AVENTURA u 9 d 31 �i O'O 6 r AVENTURA, FLORIDA ,P o # o lif _ PLANTING SPECIFICATIONS AND DETAILS and RESOLUTION NO. 2013- A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA GRANTING APPROVAL OF VARIANCE FROM SECTION 31 -145 (b)(5) h. OF THE CITY CODE TO ALLOW COMMON OPEN SPACE OF 29.35 %, WHERE A MINIMUM 35% COMMON OPEN SPACE IS REQUIRED BY CODE FOR THE TC1 (TOWN CENTER) DISTRICT; VARIANCE FROM SECTION 31- 171(a)(6)a. OF THE CITY CODE TO ALLOW AN EXISTING 8.4 FOOT AND AN EXISTING 8.5 FOOT WIDE PARKING STALL, WHERE A MINIMUM PARKING STALL WIDTH OF 9 FEET IS REQUIRED BY CODE; VARIANCE FROM SECTION 31- 171(a)(7) OF THE CITY CODE TO ALLOW AN EXISTING 4 FOOT AND 5 FOOT SETBACK TO PARKING PAVEMENT, WHERE A MINIMUM 10 FOOT SETBACK IS REQUIRED BY CODE; VARIANCE OF SECTION 31- 221(i)(3) a.1. OF THE CITY CODE TO ALLOW AN EXISTING 5 FOOT WIDE AND AN EXISTING 6 FOOT WIDE TERMINAL ISLAND, WHERE A MINIMUM TERMINAL ISLAND WIDTH OF 7 FEET IS REQUIRED BY CODE; VARIANCE FROM SECTION 31- 221(i)(3)a.2. OF THE CITY CODE TO ALLOW PARKING ROWS WITH MORE THAN NINE CONTIGUOUS PARKING SPACES WITHOUT A LANDSCAPED ISLAND, WHERE A MINIMUM OF ONE 7 FOOT WIDE LANDSCAPED ISLAND FOR EVERY NINE PARKING SPACES IS REQUIRED BY CODE; AND VARIANCE FROM SECTION 31- 221(i)(3)a.2 OF THE CITY CODE TO ALLOW AN EXISTING 0 FOOT WIDE, AN EXISTING 3.9 FOOT WIDE AND AN EXISTING 4.8 FOOT WIDE DIVIDER MEDIAN, WHERE A MINIMUM 7 FOOT WIDE DIVIDER MEDIAN IS REQUIRED BY CODE, FOR THE TOWN CENTER AVENTURA PLAZA AT 2711 NE 187 STREET, CITY OF AVENTURA; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the property described herein is zoned TC1, Town Center District; WHEREAS, the applicant, Aventura Fashion Island, LP, through Application No. 03- VAR -13, is requesting variance from Section 31 -145 (b)(5) h. to allow common open space of 29.35 %, where a minimum 35% common open space is required by Code for the TC1 (Town Center) District; and variance from Section 31- 171(a)(6)a. to allow an existing 8.4 foot and an existing 8.5 foot wide parking stall, where a minimum parking stall width of 9 feet is required by Code; and variance from Section 31- 171(a)(7) to allow an existing 4 foot and 5 foot setback to parking pavement, where a minimum 10 foot setback is required by Code; and variance of Section 31- 221(1)(3) a.1. to allow an Resolution No. 2013 - Page 2 existing 5 foot wide and an existing 6 foot wide terminal island, where a minimum terminal island width of 7 feet is required by Code; and variance from Section 31- 221(i)(3)a.2. to allow parking rows with more than nine contiguous parking spaces without a landscaped island, where a minimum of one 7 foot wide landscaped island for every nine parking spaces is required by Code; and variance from Section 31- 221(i)(3)a.2 to allow an existing 0 foot wide, an existing 3.9 foot wide and an existing 4.8 foot wide divider median, where a minimum 7 foot wide divider median is required by Code. WHEREAS, following proper notice, the City Commission has held a public hearing as provided by law; and WHEREAS, the City Commission finds that the Application meets the criteria of the applicable codes and ordinances, to the extent the Application is granted herein. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, THAT: Section 1. Application for variance from Section 31 -145 (b)(5) h. to allow common open space of 29.35 %, where a minimum 35% common open space is required by Code for the TC1 (Town Center) District; and variance from Section 31- 171(a)(6)a. to allow an existing 8.4 foot and an existing 8.5 foot wide parking stall, where a minimum parking stall width of 9 feet is required by Code; and variance from Section 31- 171(a)(7) to allow an existing 4 foot and 5 foot setback to parking pavement, where a minimum 10 foot setback is required by Code; and variance of Section 31- 221 (i)(3) a.1. to allow an existing 5 foot wide and an existing 6 foot wide terminal island, where a minimum terminal island width of 7 feet is required by Code; and variance from Section 31- 221(i)(3)a.2. to allow parking rows with more than nine contiguous parking spaces without a landscaped island, where a minimum of one 7 foot wide landscaped Resolution No. 2013 - Page 3 island for every nine parking spaces is required by Code; and variance from Section 31- 221(i)(3)a.2 to allow an existing 0 foot wide, an existing 3.9 foot wide and an existing 4.8 foot wide divider median, where a minimum 7 foot wide divider median is required by Code, on property legally described in Exhibit "A" to this resolution is hereby granted, subject to the following conditions: 1. Plans shall substantially comply with those submitted as follows: • "Town Center Aventura" Cover Sheet, Sheet C -1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Loehmann's Fashion Island ", ALTA Survey, Sheet 1 of 2, prepared by Ford, Armenteros & Manucy, Inc., dated 6/29/10, last updated 1/30/13, signed and sealed. • "Loehmann's Fashion Island ", ALTA Survey, Sheet 2 of 2, prepared by Ford, Armenteros & Manucy, Inc., dated 6/29/10, last updated 1/30/13, signed and sealed. • "Town Center Aventura" Overall Site Plan, Sheet C -2.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Overall Pavement Marking & Signage Plan, Sheet C -2.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Overall Paving, Grading & Drainage Plan, Sheet C -2.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Civil Key Sheet, Sheet C -3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "A ", Sheet C -4.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "A ", Sheet C -4.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "A ", Sheet C -4.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "B ", Sheet C -5.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "B ", Sheet C -5.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. Resolution No. 2013 - Page 4 • "Town Center Aventura" Engineering Plan "B ", Sheet C -5.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "C ", Sheet C -6.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "C ", Sheet C -6.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "C ", Sheet C -6.3, prepared by Bohler Engineering, dated12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Plan "D ", Sheet C -.1, prepared by Bohler Engineering, dated12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "D ", Sheet C -7.2, Sheet C -7.2, prepared by Bohler Engineering, dated12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Engineering Plan "D ", Sheet C -7.3, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Demolition & Erosion Control Plan "E ", Sheet C -8.1, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura" Site Plan "E ", Sheet C -8.2, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Engineering Plan "E ", Sheet C -8.3. Site Plan "E ", Sheet 8.2, prepared by Bohler Engineering, dated12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Site Details, Sheet C -9, prepared by Bohler Engineering, dated12 /17/12, last revised 02/01/13, signed and sealed.. • "Town Center Aventura ", Planting Plan - Entrance Drive, Sheet LP -1, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - West Entrance Drive, Sheet LP -2, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - South Entrance Drive, Sheet LP -3, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - East Entrance Drive, Sheet LP -4, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan - North Entrance Drive, Sheet LP -5, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. Resolution No. 2013 - Page 5 • "Town Center Aventura ", Planting Plan — Pavilion Plaza, Sheet LP -6, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Plan — Overall Site, Sheet LP -7, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Tree Disposition Plan — Overall Site, Sheet LP -8, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Planting Specifications & Details, Sheet LP -9, prepared by Design Studio Boca, dated 12/17/12, last revised 02/01/13, signed and sealed. • "Town Center Aventura ", Floor Plan, Sheet A -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Elevations, Sheet A -2, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Elevations, Sheet A -3, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Gazebo Plan & Elevation, Sheet A -4, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Trash Enclosure Detail, Sheet DP -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. • "Town Center Aventura ", Site Lighting Plan, Sheet ESP -1, prepared by Kent D. Hamilton, Architect, dated 12/13/12, signed and sealed 1/30/13. 2. Building permits for the proposed development shall be obtained within twelve (12) months of the date of the Resolution or the approvals granted shall be deemed null and void unless extended by a motion of the City Commission. 3. Prior to issuance of a building permit, the applicant shall record this resolution in the Public Records of Miami -Dade County. All expenses of such recordation shall be borne by the applicant. 4. Prior to issuance of a Certificate of Occupancy or Certificate of Completion for the lifestyle center improvements, the applicant shall either: a. Provide to the City a recorded copy of a modification to the Reciprocal Easement Agreement between the applicant and the Venture condominium approving the Resolution No. 2013 - Page 6 reconfiguration of the turning circle and access road as shown on the improvement plans submitted with this Application 03- VAR -13; or b. In the event that the applicant fails to obtain such modification of the Reciprocal Easement Agreement, the applicant shall apply for revisions to the approved site plan and variances in accordance with Section 31 -76(h) and Section 31 -790) of the Code, to amend the approved plans to provide for strict compliance with the access road configuration provided for in the effective Reciprocal Easement Agreement, and the applicant shall relocate the access road configuration in accordance with such final approvals. 5. No future expansion of floor area in the Lifestyle Center shall be permitted until all parking areas have been brought into strict compliance with the City Code. Section 2. The City Manager is authorized to cause the issuance of permits in accordance with the approvals and conditions herein provided and to indicate such approvals and conditions upon the records of the City. Section 3. This Resolution shall become effective immediately upon its adoption. The foregoing Resolution was offered by Commissioner , who moved its adoption. The motion was seconded by Commissioner and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb Resolution No. 2013 - Page 7 PASSED AND ADOPTED this 5t" day of March, 2013. Susan Gottlieb, Mayor ATTEST: TERESA M. SOROKA, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY This Resolution was filed in the Office of the City Clerk this day of March, 2013. CITY CLERK Resolution No. 2013 - Page 8 EXHIBIT "A" LEGAL DESCRIPTION OF PROPERTY A portion of Tracts A & B, Regina Square Subdivision, according to the Plat thereof, as recorded in Plat Book 113, at Page 27, of the Public Records of Miami- Dade County, Florida, being more particularly described as follows: Commence at the Northwest corner of said Tract A; thence South 84 °49'44" East, along the north line of said Tract A; for 223.65 feet to the Point of Beginning of the hereinafter described parcel of land; thence continue South 89 °49'44" East along the north line of said Tract A for 53 feet; thence South 00 045'38" East for 198.74 feet; thence South 89 056'45" East for 283.39 feet; thence South 00 °03'15" West for 149.50 feet to a point on the south line of said Tract A; thence South 89 056'45" East along the south line of said Tract A also being the north line of said Tract B for 361.66 feet to the northeast corner of said Tract B; thence South 00 038'10" East along the east line of said Tract B for 496.76 feet; thence North 89 °56'45" West along the northerly boundary of The Venture at Aventura, a Condominium for 616.05 feet; thence South 00 003'15" West along the west line of said The Venture At Aventura, a Condominium for 443.27 feet; thence North 89 056'45" West along the south line of said Tract B for 632.79 feet to a point of curvature; the following three (3) courses being along the Easterly right of way of Biscayne Boulevard, U.S. Highway No. 1 per O.R.B. 17360, Page 3655 of said Public Records of Miami -Dade County, Florida. (1) thence Northwesterly and Northeasterly along a 26.25 foot radius curve leading to the right through a central angle 98 046'49" for an arc of 45.26 feet to a point of reverse curvature; (2) thence Northeasterly along a 4709.83 foot radius curve leading to the left through a central angle of 3 017'00" for an arc of 269.90 feet to a point of compound curvature; (3) thence Northeasterly along a 5828.53 foot radius curve leading to the left through a central angle of 2 042'02" for an arc of 274.72 feet; the following three courses being along the Southerly, Easterly and Northerly boundary line of Jaffe Building, Inc. property as described in O.R.B. 19137 at Page 2349 of the Public Records of Miami -Dade County, Florida. (1) thence South 89 056'45" East for 178.24 feet; (2) thence North 00 003'15" East for 228.32 feet; (3) thence North 89 052'41" West for 171.56 feet to a point on a circular curve concave to the West and whose radius bears North 89 023'49" West; the following two courses being along said Easterly right of way line of Biscayne Blvd., U.S. Highway No. 1. (1) thence Northeasterly along a 5828.53 foot radius curve leading to the left through a central angle of 00 008'14" for an arc of 13.96 feet to a point of tangency; (2) thence North 00 027'57" East for 47.78 feet; the following three courses being along the Northerly and Westerly boundary of said Tract B; (1) thence South 89 052'41" East for 439.96 feet; (2) thence North 00 °45'38" West for 78.26 feet; (3) thence South 89 056'45" East for 73.50 feet; thence North 00 045'38" West for 348.36 feet to the Point of Beginning. Resolution No. 2013-. Page 9 LESS AND EXCEPT therefrom those lands conveyed to Miami -Dade County by Warranty Deed recorded in Official Records Book 24625, Page 468 and Official Records Book 25690, Page 3708, Public Records of Miami -Dade County, Florida and being described as follows: A portion of Tract B, Regina Square Subdivision, according to the Plat thereof as recorded in Plat Book 113, Page 27 of the Public Records of Miami -Dade County, Florida, lying in the SW Y4 of Section 3, Township 52 South, Range 42 East, City of Aventura, Miami -Dade County, Florida and being more particularly described as follows: Commence at the Northeast corner of Tract C of said Regina Square Subdivision according to the Plat thereof as recorded in that Plat Book 113, Page 27 said corner being a point on the West right of way line of N.E. 29th Avenue; thence N 00 °38'10" W along said West right of way line and East line of said Tract B for 98.01 feet to the Point of Beginning of hereinafter described parcel of land; thence continue N 00 °38'10" W along said West right of way line and said East Tract line for 12.00 feet, the following seven courses being perpendicular to or parallel with the preceded course: (1) thence S89 °21'50 "W for 10.00 feet; (2) thence N00 °38'10 "W for 22.67 feet; (3) thence S89 021'50 "W for 50.00 feet; (4) thence S00 038'10 "E for 55.00 feet; (5) thence N89 °21'50 "E for 50.00 feet; (6) thence N00 °38'10 "W for 20.33 feet; (7) thence N89 °21'50 "E for 10.00 feet to the point of beginning. CITY OF AVENTURA FINANCE DEPARTMENT MEMORANDUM TO: City Commission FROM: Eric M. Soroka, ICMA -CM, City Manager BY: Brian K. Raducci, Finance Director DATE: February 25, 2013 SUBJECT: Mid -Year Ordinance Amending 2012/13 Budget 1St Reading March 5, 2013 City Commission Meeting Agenda Item 2 "d Reading April 2, 2013 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission approve the attached Ordinance amending the 2012/13 budget. The total amount of each fund's budget amendment is outlined below. BACKGROUND As you are aware, the City normally amends the budget to recognize actual fund balance amounts carried over based on the prior year's audit. In addition, budget amounts are amended to re- appropriate the balances in capital outlay projects which were not 100% complete by the end of the prior fiscal year. The need to re- appropriate unspent capital accounts and to recognize the actual fund balances at September 30, 2012 to the 2012/13 budget was also discussed in my memorandum dated February 25th which was distributed electronically to the Commission along with the Comprehensive Annual Financial Report. GENERAL FUND (001) REVENUES /EXPENDITURES — $2,983,514 To recognize additional Carryover to fund the items described below. To re- appropriate $1,378,593 worth of capital outlay projects which were not 100% complete by the end of the prior fiscal year as follows: a. computer equipment, $775,000 b. E911 equipment, $55,000 c. Police Department Radio System $442,000 (this is the first component of the Radio System project which was presented at the February 21st Commission workshop) d. street lighting improvements $106,593) 2. To appropriate $60,000 for upgrades made at ACES (this project which was presented at the Januaryl7th Commission workshop) 3. To appropriate $1,560,000 from that portion of the Fund Balance which was previously Assigned to Public Safety /Police Communication Radio System Upgrade (this is the second component of the Radio System project which was presented at the February 21st Commission workshop) 4. To decrease Non Departmental/Transfers by $15,079 in order to recognize actual fund balances as explained under the two - related debt service funds, (found at the end of this memorandum), based on the prior year's audit. POLICE EDUCATION FUND (110) REVENUES /EXPENDITURES — $11,850 To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit. STREET MAINTENANCE FUND (120) REVENUES /EXPENDITURES — $745,915 To recognize additional Carryover to fund the two (2) items described below. To re- appropriate $76,308 worth of Street Lighting Improvements (e.g., Biscayne Lighting Project) which was not 100% complete by the end of the prior fiscal year. 2. To increase the Capital Reserve by $669,607 in order to recognize and re- appropriate the remaining funds of the fund balance amount carried over based on the prior year's audit. POLICE CAPITAL OUTLAY IMPACT FEE FUND (140) REVENUES /EXPENDITURES —$5,513 To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit. PARK DEVELOPMENT FUND (170) REVENUES /EXPENDITURES — $8 To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit. 911 FUND (180) REVENUES /EXPENDITURES — $29,658 To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit. 2 DEBT SERVICE FUND SERIES 2010 & 2011 (230) REVENUES — $0 (Revenue Reclassification of $11,589 — Net effect is $0) To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit and to reduce the transfer from the General Fund, respectively by $11,589 for a net effect of $0. DEBT SERVICE FUND SERIES 2012, Charter School Land (250) REVENUES — $0 (Revenue Reclassification of $3,490 — Net effect is $0) To recognize and re- appropriate the actual fund balance amount carried over based on the prior year's audit and to reduce the transfer from the General Fund, respectively by $3,490 for a net effect of $0. COMMITTED FUND BALANCE — $5,000,000 HURRICANE /EMERGENCY AND DISASTER RECOVERY OPERATING RESERVES - In addition the City Commission had previously committed $5,000,000 for hurricane /emergency and disaster recovery operating reserves through Resolution 2011 -43. At the recommendation of our City Auditors, we will re- commit these same funds as part of this ordinance as this is the City's highest level decision making authority. This action will have no impact on our operating /capital budget as these funds had been previously been earmarked for this purpose. This is merely a more formal action of what has already been decided by our City Commission on July 12, 2011. If you should have any questions related to this memorandum, please feel free to contact the City Manager. BKR /bkr 3 ORDINANCE NO. 2013 -03 AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AMENDING ORDINANCE NO. 2012 -13 WHICH ORDINANCE ADOPTED A BUDGET FOR THE 2012/2013 FISCAL YEAR BY REVISING THE 2012/2013 FISCAL YEAR OPERATING AND CAPITAL BUDGET AS OUTLINED IN EXHIBIT "A" ATTACHED HERETO; ESTABLISHING THE COMMITTED FUND BALANCE FOR HURRICANE /EMERGENCY AND DISASTER RECOVERY OPERATING RESERVES; AUTHORIZING THE CITY MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE AIMS OF THIS ORDINANCE; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, upon the periodic review and analysis of current budgetary commitments and obligations, and based upon the projected needs and requirements of the City and upon the recommendations of the City Manager (and the concurrence of the Finance Director as to Accounting Principles), it is deemed necessary to adjust, amend and implement the 2012/2013 Operating and Capital Budget as set forth in Exhibit "A" attached hereto and made a part hereof. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. The recitals contained in the preamble to this Ordinance are incorporated by reference herein. Section 2. The City Commission hereby authorizes the amendment of Ordinance No. 2012 -13, which Ordinance adopted a budget for the 2012/2013 fiscal year, by revising the 2012/2013 budget as set forth on the attached Exhibit "A" which exhibits are deemed incorporated by reference as though set forth in full herein. Ordinance No. 2013 - Page 2 Section 3. The Committed Fund Balance to be utilized for Hurricane /Emergency and Disaster Recovery Operating Reserves is $5 million. Section 4. The City Manager is hereby authorized to do all things necessary to carry out the aims of this Ordinance. Section 5. Effective Date. This Ordinance shall be effective immediately upon adoption on second reading and shall be applicable retroactively from and after October 1, 2012. The foregoing Ordinance was offered by Commissioner , who moved its adoption on first reading. This motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb The foregoing Ordinance was offered by Commissioner , who moved its adoption on second reading. This motion was seconded by Commissioner , and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb �: Ordinance No. 2013 - Page 3 PASSED AND ADOPTED on first reading this 5th day of March, 2013. PASSED AND ADOPTED on second reading this 2 "d day of April, 2013. TERESA M. SOROKA, MMC CITY CLERK APPROVED AS TO LEGAL SUFFICIENCY: CITY ATTORNEY 3 SUSAN GOTTLIEB, MAYOR Exhibit A FY 2012/13 Budget Amendments GENERAL FUND (001) Expenditures Capital Outlay /Information Technology (8012 -513) 6401 Computer Equipment >$5,000 $ 177,634 $ 207,000 $ 384,634 SUBTOTAL $ 177,634 $ 207,000 $ 384,634 Capital Outlay /Public Safety (8020 -521) 2012113 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues 147,000 55,000 202,000 Non - Revenue 10,000 2,002,000 2,012,000 3999000 Carryover $ 18,960,924 $ 2,983,514 $ 21,944,438 SUBTOTAL $ 18,960,924 $ 2,983,514 $ 21,944,438 Total Amendments - Revenues $ 2,983,514 Expenditures Capital Outlay /Information Technology (8012 -513) 6401 Computer Equipment >$5,000 $ 177,634 $ 207,000 $ 384,634 SUBTOTAL $ 177,634 $ 207,000 $ 384,634 Capital Outlay /Public Safety (8020 -521) 6401 Computer Equipment >$5,000 $ - $ 340,000 $ 340,000 6402 Computer Equipment <$5,000 123,428 203,000 326,428 6405 E911 Equipment 147,000 55,000 202,000 6407 Radio Repurchase & Replace. 10,000 2,002,000 2,012,000 SUBTOTAL $ 280,428 $ 2,600,000 $ 2,880,428 Capital Outlay /Community Services (8050- 539/541) 6402 Computer Equipment <$5,000 $ 10,000 $ 25,000 $ 35,000 6307 Street Lighting Improv. 408,692 106,593 515,285 SUBTOTAL $ 418,692 $ 131,593 $ 550,285 Charter School -(8069 -569) 6307 Charter School Constr. $ - $ 60,000 $ 60,000 SUBTOTAL $ - $ 60,000 $ 60,000 Non Departmental /Transfers (9001 -581) 9123 Transfer to 1999 Debt Service Fund (230) $ 1,210,019 $ (11,589) $ 1,198,430 9125 Transfer to 2012 Debt Service Fund (250) 403,132 (3,490) 399,642 SUBTOTAL $ 1,613,151 $ (15,079) $ 1,598,072 Total Amendments - Expenditures $ 2,983,514 Page 1 of 4 Exhibit A POLICE EDUCATION FUND (110) 2012113 2012113 2012/13 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ - $ 11,850 $ 11,850 SUBTOTAL $ - $ 11,850 $ 11,850 Total Amendments - Revenues $ 11,850 Expenditures Public Safety (2001 -521) 5450 Training $ 7,000 $ 11,850 $ 18,850 SUBTOTAL $ 7,000 $ 11,850 $ 18,850 Total Amendments - Expenditures $ 11,850 TRANSPORTATION AND STREET MAINTENANCE FUND (120) Expenditures Community Services (5001 -541) 6307 Street Lighting Improv. $ 106,248 $ 76,308 $ 182,556 6999 Capital Reserve 69,900 669,607 739,507 SUBTOTAL $ 176,148 $ 745,915 $ 922,063 Total Amendments - Expenditures $ 745,915 POLICE CAPITAL OUTLAY IMPACT FEE FUND (140) 2012113 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ - $ 5,513 $ 5,513 SUBTOTAL $ - $ 5,513 $ 5,513 Total Amendments - Revenues $ 5,513 Expenditures Non Departmental (2001 -521) 6999 Capital Reserve $ - $ 5,513 $ 5,513 SUBTOTAL $ - $ 5,513 $ 5,513 Total Amendments - Expenditures $ 5,513 Page 2 of 4 2012113 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ 65,398 $ 745,915 $ 811,313 SUBTOTAL $ 65,398 $ 745,915 $ 811,313 Total Amendments - Revenues $ 745,915 Expenditures Community Services (5001 -541) 6307 Street Lighting Improv. $ 106,248 $ 76,308 $ 182,556 6999 Capital Reserve 69,900 669,607 739,507 SUBTOTAL $ 176,148 $ 745,915 $ 922,063 Total Amendments - Expenditures $ 745,915 POLICE CAPITAL OUTLAY IMPACT FEE FUND (140) 2012113 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ - $ 5,513 $ 5,513 SUBTOTAL $ - $ 5,513 $ 5,513 Total Amendments - Revenues $ 5,513 Expenditures Non Departmental (2001 -521) 6999 Capital Reserve $ - $ 5,513 $ 5,513 SUBTOTAL $ - $ 5,513 $ 5,513 Total Amendments - Expenditures $ 5,513 Page 2 of 4 Exhibit A PARK DEVELOPMENT FUND (170) 2012113 2012113 2012/13 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ 2,256 $ 8 $ 2,264 SUBTOTAL $ 2,256 $ 8 $ 2,264 Total Amendments - Revenues $ 8 Expenditures Non Departmental /Transfers (5001 -572) 6999 Capital Reserve $ 2,256 $ 8 $ 2,264 SUBTOTAL $ 2,256 $ 8 $ 2,264 Total Amendments - Expenditures $ 8 911 FUND (180) 2012113 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3999000 Carryover $ - $ 29,658 $ 29,658 SUBTOTAL $ - $ 29,658 $ 29,658 Total Amendments - Revenues $ 29,658 Expenditures Public Safety (2001 -521) 6999 Capital Reserve $ - $ 29,658 $ 29,658 SUBTOTAL $ - $ 29,658 $ 29,658 Total Amendments - Expenditures $ 29,658 Page 3 of 4 Exhibit A DEBT SERVICE FUND SERIES 2010 & 2011 (230) DEBT SERVICE FUND SERIES 2012 CHARTER SCHOOL LAND ACQUISITION (250) 2012/13 2012113 2012113 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3811001 Transfer from General Fund $ 1,210,019 $ (11,589) $ 1,198,430 3999000 Carryover - 11,589 11,589 SUBTOTAL $ 1,210,019 $ - $ 1,210,019 Total Amendments - Revenues $ - DEBT SERVICE FUND SERIES 2012 CHARTER SCHOOL LAND ACQUISITION (250) Page 4 of 4 2012113 2012113 2012/13 OBJECT ADOPTED AMENDED REVISED CODE CATEGORY BUDGET AMOUNT BUDGET Revenues Non - Revenue 3811001 Transfer from General Fund $ 403,132 $ (3,490) $ 399,642 3999000 Carryover - 3,490 3,490 SUBTOTAL $ 403,132 $ - $ 403,132 Total Amendments - Revenues $ - Page 4 of 4 CITY OF AVENTURA OFFICE OF THE CITY MANAGER MEMORANDUM TO: City Commission 1-**7 FROM: Eric M. Soroka, ICMA -CM, City 'nag r DATE: February 26, 2013 SUBJECT: Ordinance Approving Sale and Purchase Agreement Between City And Presidential Aventura Properties, LLC (Mark Gordon) for City Owned Property 1st Reading March 5, 2013 City Commission Meeting Agenda Item qR 2 "d Reading April 2, 2013 City Commission Meeting Agenda Item RECOMMENDATION It is recommended that the City Commission adopt the attached Ordinance authorizing the execution of the Sale and Purchase Agreement between City (Seller) and Presidential Aventura Properties, LLC (Mark Gordon) (Purchaser) for the purchase of the City owned 16,490 square feet lot located on Biscayne Boulevard and N.E. 213th Street. BACKROUND As reviewed at the January 2013 Workshop Meeting, the Administration was authorized to negotiate a Sale and Purchase Agreement for the City owned property located at Biscayne Boulevard and N.E. 213th Street previously declared surplus by the City. The following is an outline of the major items and conditions contained in the Agreement: 1. Purchase price is $1,100,000. 2. The Purchaser will, at its cost, install, construct and maintain the access road in accordance with Exhibit "C" on City right -of -way. The road improvement will be dedicated to the City at no cost. The access road was designed by the City Engineer and Traffic Engineer to align correctly with the Biscayne Boulevard and N.E. 213th Street intersection. Any modifications to the plan outlined in Exhibit "C" require FDOT, County and City approval. The improvements shall be Memo to City Commission Page 2 complete prior to the issuance of a Certificate of Occupancy for the Office Building to be built on the property. 3. The Purchaser plans to construct an office building at a maximum of 12,000 square feet and four stories. 4. The closing is subject to the Purchaser obtaining final site plan approval from the City including any parking or setback variances. 5. The closing is anticipated to occur in ninety days of this Agreement approval. It is recommended that the proceeds from the sale be deposited in City funds as follows: $1,000,000 to the Park Development Fund and future park improvements. $100,000 to the Charter School Fund for future equipment needs. If you have any questions, please feel free to contact me. EMS /act Attachment CCO1795 -13 ORDINANCE NO. 2013 - AN ORDINANCE OF THE CITY OF AVENTURA, FLORIDA APPROVING THE SALE AND PURCHASE AGREEMENT BETWEEN THE CITY OF AVENTURA AND PRESIDENTIAL AVENTURA PROPERTIES, LLC FOR THE SALE OF CITY REAL PROPERTY; AUTHORIZING THE CITY MANAGER TO EXECUTE THE SALE AND PURCHASE AGREEMENT AND TO EXECUTE ANY DOCUMENTS NECESSARY TO EFFECTUATE THE SALE AND CLOSING OF THE CITY REAL PROPERTY; PROVIDING FOR IMPLEMENTATION OF TRANSACTION; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Commission desires to sell and convey a parcel of City owned land consisting of approximately 16,490 square feet and located westerly of the intersection of N.E. 213th Street And Biscayne Boulevard (the "City Parcel "), which has been found to be surplus and not needed for City purposes, subject to the terms and conditions of the Sale and Purchase Agreement between the City of Aventura and Presidential Aventura Properties, LLC, a Florida limited liability company (the "Agreement ") attached hereto as Exhibit "A "; and WHEREAS, the City Commission finds that the approval of the Agreement is in the best interest of the City. NOW, THEREFORE, IT IS HEREBY ORDAINED BY THE CITY COMMISSION OF THE CITY OF AVENTURA, FLORIDA, AS FOLLOWS: Section 1. Recitals Adopted. That the recitals set forth above are hereby adopted and confirmed. Section 2. Sale and Purchase Agreement Approved; Transaction Authorized. That pursuant to City Charter Section 4.03(7), the Agreement attached hereto as Exhibit "A" is hereby approved, and the sale and conveyance of the City Parcel is hereby authorized. A. That the City Manager is authorized to execute the Agreement, in substantially the form which is attached hereto, the City's deed or instrument of conveyance, the closing papers, and all other necessary documents to effectuate the sale and closing of the City Parcel, including, but not limited to, an instrument to provide for the public right -of -way dedication of the adjacent parcel which is described in the Agreement, once approved by the City Attorney as to form and legal sufficiency. B. That the City Manager and City Attorney are hereby authorized to take any action which is necessary to implement the sale and closing of the transaction and to enforce the Agreement and all matters related thereto. Section 3. Effective Date. That this Ordinance shall be effective immediately upon adoption on second reading, and shall supersede Ordinance No. 2008 -04 concerning the City Parcel. The forgoing Ordinance was offered by adoption on first reading. This motion was seconded by being put to a vote, the vote was as follows: its Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb who moved its and upon The foregoing Ordinance was offered by who moved adoption on second reading. This motion was seconded by and upon being put to a vote, the vote was as follows: Commissioner Enbar Cohen Commissioner Teri Holzberg Commissioner Billy Joel Commissioner Michael Stern Commissioner Howard Weinberg Vice Mayor Luz Urbaez Weinberg Mayor Susan Gottlieb PASSED AND ADOPTED on first reading this Stn day of March, 2013. PASSED AND ADOPTED on second reading this 2nd day of April, 2013. Susan Gottlieb, Mayor ATTEST: Teresa M. Soroka, MMC City Clerk Approved as to Form and Legal Sufficiency: City Attorney SALE AND PURCHASE AGREEMENT THIS SALE AND PURCHASE AGREEMENT (this "Agreement ") is made and entered into as of the day of , 2013, by and between the CITY OF AVENTURA, a Florida municipal corporation, (the "Seller ") and PRESIDENTIAL AVENTURA PROPERTIES, LLC, a Florida Limited Liability Company (the "Purchaser "). RECITALS 1. Seller is the owner of certain real property containing approximately 16,490 square feet located in the City of Aventura, Miami -Dade County, Florida, as legally described and depicted on Exhibit "A" attached hereto and made a part hereof (hereinafter the "Property" as defined in Section 1.14 herein below). 2. Seller is also the owner of the adjacent parcel of real property to the north of the Property containing approximately 9,145 square feet located in the City of Aventura, Miami - Dade County Florida, as legally described and depicted on Exhibit `B" attached hereto and made a part hereof (hereinafter the "Access Parcel" as defined in Section 1.1 herein below). 3. Purchaser desires to purchase, and Seller desires to sell the Property, upon the terms and conditions hereinafter set forth. Purchaser's development and use of the Property requires Site Plan Approval in order to permit development of the Property as office use. 4. In connection with Purchaser's purchase and use of the Property, Seller will concurrently with the Closing of the Property and subject to the terms and conditions herein set forth, dedicate the Access Parcel as public right -of -way in order to provide the Property with access and ingress and egress to and from Biscayne Boulevard and for the future westerly expansion of N.E. 213 Street. 5. As a condition of development of the Property and Site Plan approval, Purchaser will, at its sole cost and expense, install, construct and maintain on the Access Parcel an access road and/or driveway and connections in accordance with the sketch attached hereto and made a part hereof as Exhibit "C" (hereinafter the "Access Road Improvements" as defined in Section 1.2 herein below), and shall obtain, at its sole cost and expense, all required permits and approvals for such Access Road Improvements from the Florida Department of Transportation ( "FDOT ") and Miami -Dade County, Florida, with all final plans for the access road to be approved by Seller. Any changes or modifications to Exhibit "C" attached hereto shall require the prior approval of FDOT, Miami -Dade County and Seller. 6. Purchaser will convey and /or dedicate the Access Road Improvements on the Access Parcel to Seller as public right -of -way improvements. Purchaser shall, at its sole cost and KADocs\032 8\00 1 \3 54695 503.DOC expense, maintain the Access Road Improvements until such time as the future westerly extension of N.E. 213 Street is constructed. 7. Purchaser shall, at its sole cost and expense, obtain all required permits and approvals from FDOT and Miami -Dade County, Florida for the installation and construction of the Access Road Improvements and driveway and connections on the Access Parcel, and for the installation of a new mast arm at the easterly limit of N.E. 213 Street/Biscayne Boulevard intersection, as shown on the sketch attached hereto as Exhibit "C ", including all required or necessary signalization and other improvements or facilities as may be required by FDOT or Miami -Dade County, Florida for the efficient and proper functionality of the intersection. 8. Seller intends at a future date to construct or have constructed a westerly extension to N.E. 213 Street, which extension will provide access to the Property. Upon the construction of the westerly extension of N.E. 213 Street providing access to and from the Property, the ingress and egress from N.E. 213 Street shall be limited to right -in and right -out only. NOW, THEREFORE, for and in consideration of the mutual covenants and promises contained herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Purchaser and Seller agree as follows: SECTION 1. DEFINITIONS. For purposes of this Agreement, each of the following terms, when used herein with an initial capital letter, shall have the following meaning: 1.1 Access Parcel. The real property consisting of approximately 9,145 square feet adjacent to and north of the Property as more particularly described on Exhibit `B" attached hereto and incorporated herein by reference, to be dedicated by Seller as public right -of -way concurrently with the Closing of the Property and in accordance with the terms and conditions set forth in this Agreement, in order to provide access and ingress and egress to and from the Property and Biscayne Boulevard. 1.2 Access Parcel Improvements. The improvements and facilities required to be installed, constructed and maintained by Purchaser on the Access Parcel, at its sole cost and expense, for the purpose of providing access and ingress and egress to and from the Property to Biscayne Boulevard, including an access road, driveways(s) and driveway connections to Biscayne Boulevard, in accordance with the sketch attached hereto and made a part hereof as Exhibit "C ". The Access Road Improvements shall also include, at the sole cost and expense of the Purchaser, the installation and construction of a new mast arm at the easterly limit of the N.E. 213 Street and Biscayne Boulevard intersection, and all required or necessary signalization and other improvements or facilities as may be required by FDOT and Miami -Dade County, Florida for the efficient and proper functionality of the intersection. KADocs \0328 \001\354695503.D0C 2 1.3 Business Day. Monday through Friday excluding bank holidays on which national banking associations are authorized to be closed. 1.4 Closing. The Closing and consummation of the purchase and sale of the Property as contemplated by this Agreement. 1.5 Closing Date (or Date of Closing). The date upon which Closing occurs. 1.6 Condemnation Proceeding. Any proceeding or threatened proceeding in condemnation, eminent domain or written request in lieu thereof. 1.7 Deed. The special warranty deed of conveyance of the Property from Seller to Purchaser. 1.8 Earnest Money. The funds to be paid by Purchaser to Escrow Agent pursuant to Section 3 hereof, plus any interest earned thereon. 1.9 Effective Date. The date when the last one of Seller or Purchaser has signed and initialed all changes to this Agreement. The parties acknowledge that Seller's execution of this Agreement shall occur immediately subsequent to approval of this Agreement by the City Commission. 1.10 Escrow Agent. Weiss Serota Helfman Pastoriza Cole & Boniske, P.L. 1.11 Owner's Title Policy. An Owner's marketability policy of title insurance on the most current ALTA Form for the Property in the amount of the Purchase Price, and containing such additional endorsements permitted under Florida title insurance regulations as reasonably requested by Purchaser. 1.12 Permits. All consents, notices of completion, environmental and utility permits and approvals authorizations, variances, waivers, licenses, permits, certificates and approvals from any governmental authority or quasi - governmental authority issued or granted with respect to the Property and the Access Parcel now or prior to Closing. 1.13 Person. Any individual, sole proprietorship, partnership, joint venture, trust, unincorporated organization, association, corporation, institution, entity, party or government (whether national, federal, state, county, city, municipal or otherwise, including, without limitation, any instrumentality, division, agency, body or department thereof). 1.14 Property. The real property more particularly described on Exhibit "A" attached hereto and incorporated herein by reference consisting or approximately 16,490 square feet and appurtenant easements thereto, together with all of Seller's right, title and interest in and to all K:\Docs \0328 \001\354695503.DOC 3 easements, rights of way, strips and gores of land, tenements, hereditaments and appurtenances, reversions, remainders, privileges, licenses and other rights and benefits belonging to, running with or in any way relating thereto; together with all right, title and interest of Seller (if any) in and to any land lying in the bed of any street, road or highway, open or proposed, in front of, abutting or adjoining the Property. 1.15. Purchaser. Presidential Aventura Properties, LLC, a Florida limited liability company, Attention Mark Gordon, Manager. Purchaser's mailing address is 2875 Northeast 191St Street, Suite 400, Aventura, Florida 33180. Telephone: (305) ; Telecopier: (305) 1.16 Purchaser's Attorney. Fromberg, Perlow & Komik, P.A. Attention: Gary Ian Nesbitt, Esq. Purchaser's Attorney's mailing address is 18901 Northeast 29th Avenue, Suite 100, Aventura, Florida 331801. Telephone: (305) 933 -2000; Telecopier: (305) 936 -0101. 1.17 Seller. City of Aventura, Attention: City Manager. Seller's mailing address is 19200 West Country Club Drive, Aventura, Florida 33180. Telephone: (305) 466 -8910; Telecopier: (305) 466 -8919. 1.18 Seller's Attorney. Weiss Serota Helfman Pastoriza Cole & Boniske, P.L. Attention: Lillian M. Arango, Esq. Seller's Attorney's mailing address is 2525 Ponce de Leon Boulevard, Suite 700, Coral Gables, Florida 33134. Telephone: (305) 854 -0800; Telecopier: (305) 854 -2323. 1.19 Seller- Caused Monetary Lien. Any lien, monetary judgment, past due tax or assessment or other similar encumbrance of a monetary nature against the Property or any portion of the Property evidencing a monetary obligation created by or through Seller. 1.20 Survey. A survey of the Property prepared by a licensed surveyor in the State of Florida, certified as meeting the minimum standards for survey in the State of Florida. The Survey shall (i) show the square footage and acreage of the Property, (ii) show the location of any utility and other lines and easements, either visible or recorded, and the recording references of all the recorded easements shown on the Title Commitment, (iii) show the elevation and flood zone information, and (iv) contain such other items as may be reasonably required by Purchaser. 1.21. Termination Date. The date which is forty five (45) days after the Effective Date. 1.22 Title Commitment. The commitment for title insurance to be obtained by Purchaser pursuant to Section 5 below. 1.23 Title Company. A title insurance company licensed to write title insurance in the State of Florida which is selected by Purchaser. KADocs \0328 \001 \354695503.DOC 4 SECTION 2. PURCHASE AND SALE. Purchaser shall purchase the Property from Seller, and Seller shall sell, convey, transfer and assign the Property to Purchaser, subject to an d in accordance with the terms and conditions of this Agreement. SECTION 3. EARNEST MONEY. Upon the Effective Date, Purchaser shall deposit in escrow with the Escrow Agent the sum of One Hundred Thousand and 00 /100 Dollars ($100,000.00) as Earnest Money, to be delivered to Seller at Closing and applied as a credit against the Purchase Price (as defined below) at Closing. Escrow Agent shall hold and disburse the Earnest Money in accordance with the terms of this Agreement. Any interest earned on the Earnest Money shall accrue to the benefit of Purchaser, unless the Earnest Money is delivered to the Seller as liquidated damages pursuant to Section 16 herein below, in which event such interest shall accrue to the benefit of Seller and be delivered to Seller as part of the Earnest Money. Purchaser and Seller agree to sign all forms and reports reasonably required in connection with the holding and investing by Escrow Agent of the Earnest Money. For purposes of reporting any earned interest with respect to the Earnest Money, Purchaser and Seller shall provide Escrow Agent with their respective Federal Tax Identification numbers. SECTION 4. PURCHASE PRICE. The purchase price for the Property is One Million One Hundred Thousand and 00 /100 Dollars ($1,100,000.00) (the "Purchase Price "). The entire Purchase Price, less the amount of the Earnest Money and subject to adjustments and prorations as herein provided, shall be due and payable by wire transfer, in immediately available funds at Closing. SECTION 5. TITLE: SURVEY. Title to the Property shall be good and marketable and insurable fee simple title in the amount of the Purchase Price. Seller shall deliver such affidavits and agreements as may be reasonably required by the Title Company in order to issue the Owner's Title Policy in accordance with this Agreement. 5.1 Examination of Title. Purchaser may obtain, at Purchaser's expense, an ALTA title insurance commitment (the "Title Commitment ") issued by the Title Company covering the Property pursuant to which the Title Company agrees to issue the Owner's Title Policy to Purchaser. The cost of the Title Commitment (including all title search, examination and document preparation fees) and the Owner's Title Policy (and any simultaneous issue to a mortgagee and all endorsements) shall be paid by Purchaser. 5.2 Survey. At Purchaser's option, Purchaser may obtain the Survey. The cost of the Survey shall be paid by Purchaser. 5.3 Permitted Exceptions. The sale of the Property shall be subject to the following: 5.3.1 The lien of all ad valorem real estate taxes and assessments for the tax year in which Closing occurs, subject to proration as herein provided, and subsequent years; KADocs \0328 \001 \354695503.D0C 5 5.3.2 All laws, ordinances, and governmental regulations, including but not limited to, all applicable building, zoning, land use and environmental ordinances and regulations; and 5.3.3 Any items shown on the Title Commitment to which Purchaser does not object and those title objections waived by Purchaser in accordance with Section 5.4 below. 5.3.4 All matters shown on the Survey, including all existing easements and facilities located on the Property as of the Effective Date of this Agreement. The above items described in this Section 5.3 are herein collectively referred to as the "Permitted Exceptions." 5.4 Obiections to Title and Survey. Purchaser shall be entitled to object to any exceptions to title disclosed in the Title Commitment and /or matters shown on the Survey that render title unmarketable within thirty (30) days of the Effective Date, by written notice to Seller. In the event that Purchaser shall so object to the Title Commitment and /or the Survey, Seller shall have thirty (30) days after receipt of such notice to attempt to cure Purchaser's objections or advise Purchaser it is unwilling to do so. In the event Seller is unwilling or unable to so cure such objections, Purchaser may (i) waive such objections, or (ii) terminate this Agreement by written notice to Seller, in which event the Earnest Money shall be immediately returned to Purchaser and neither Purchaser nor Seller shall have any further obligations hereunder, except obligations that expressly survive the termination of this Agreement. 5.5 Cure of Seller- Caused Monetary Liens. Notwithstanding Section 5.4 above, if the Title Commitment reveals the existence of a Seller- Caused Monetary Lien, then Seller shall pay any amount due in satisfaction of each such Seller - Caused Monetary Lien as to the Property only (or, subject to Purchaser's reasonable approval, otherwise cause the same to be removed as an exception in the Title Commitment) which amount, at the option of Seller, may be paid from the proceeds of the Purchase Price at Closing. Notwithstanding the foregoing, if the amount of the Seller Caused Monetary Lien, either individually or in the aggregate, exceeds Twenty Five Thousand and 00 /100 Dollars ($25,000.00) (the "Cure Limit"), Seller shall have the right, in Seller's sole discretion, within fifteen (15) days after receipt of Purchaser's title objection notice as set forth in Section 5.4 to advise Purchaser as to whether it will pay the amount in excess of the Cure Limit necessary to satisfy the Seller- Caused Monetary Lien. If Seller elects not to pay the amount in excess of the Cure Limit, Purchaser shall have the options (on the same terms and conditions) as set forth in Section 5.4 (i) and (ii) above. 5.6 Purchaser's Right to Terminate. If any title matter other than a matter disclosed in the Title Commitment or the Survey arises or becomes known to Purchaser subsequent to the date of the Title Commitment (a "New Title Matter ") and such New Title Matter (a) is a Seller - Caused Monetary Lien, or (b) was created or consented to by Seller, then Seller shall cure the K:\Docs \0328 \001\354695503.DOC 6 New Title Matter up to the Cure Limit, at Seller's expense, on or before Closing. If the New Title Matter is not a Seller- Caused Monetary Lien or was not created or consented to by Seller, then Seller shall have until the earlier of (i) five (5) Business Days of Seller's receipt of written notice thereof or (ii) the Closing Date, within which to cure the same, and if such New Title Matter is not cured within such period, then Purchaser may, at its sole option, exercised by written notice to Seller within five (5) Business Days following the expiration of the five (5) Business Day cure period, either (i) terminate this Agreement and receive a refund of the Earnest Money or (ii) elect to close subject to such New Title Matter. In the event of termination, neither party hereto shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. SECTION 6. SELLER'S REPRESENTATIONS AND WARRANTIES. Seller represents and warrants to Purchaser and covenants and agrees with Purchaser, on and as of the date hereof, to be certified to Purchaser on or as of the Closing, as follows: 6.1 Power and Authority. Seller has all necessary power to execute and deliver this Agreement and perform all its obligations hereunder. The execution, delivery and performance of this Agreement by Seller (i) has been duly and validly authorized by all necessary action on the part of Seller, and (ii) does not conflict with or constitute a breach of, or constitute a default under, any contract, agreement or other instrument by which Seller or the Property is bound or to which Seller is a party. 6.2 Parties in Possession. Other than Seller, there are no parties in possession of any portion of the Property as lessees or tenants. 6.3 AS -IS. PURCHASER ACKNOWLEDGES AND AGREES THAT SELLER HAS MADE NO REPRESENTATIONS OR WARRANTIES AS TO THE QUANTITY, QUALITY OR CONDITION OF THE PROPERTY, THE SUITABILITY OF THE ZONING THEREOF, OR THE AVAILABILITY OF PERMITS RELATING THERETO, AND THAT PURCHASER IS NOT RELYING UPON ANY ORAL OR WRITTEN REPRESENTATION OR INDUCEMENT THAT MAY HAVE BEEN MADE BY SELLER OR SELLER'S REPRESENTATIVES, AGENTS OR EMPLOYEES WITH RESPECT TO THE QUANTITY, QUALITY OR WITH RESPECT TO THE PRESENT OR FUTURE CONDITION, ENVIRONMENTAL OR OTHERWISE, ZONING OR PERMITTING OF SAID PROPERTY. PURCHASER ACKNOWLEDGES AND AGREES THAT THE CONVEYANCE OF THE PROPERTY IS "AS IS" WITHOUT ANY WARRANTY OR REPRESENTATION FOR ANY OTHER PURPOSE, EXPRESS OR IMPLIED. 6.4 Survival. Except for Section 6.3, the foregoing representations and warranties of Seller in this Section 6 shall not survive the Closing or termination of this Agreement. KADocs \0328 \001\354695503.D0C 7 SECTION 7. PURCHASER'S REPRESENTATIONS AND WARRANTIES. Purchaser represents and warrants to Seller that the following facts and conditions exist and are true as of the date hereof and shall exist and be true as of the date of the Closing. 7.1 Organization; Power; and Authority. Purchaser is validly formed limited liability company in good standing organized and existing under the laws of the State of Delaware and has all requisite power and authority to purchase the Property and to enter into and perform its obligations hereunder. The execution, delivery and performance of this Agreement by Purchaser (i) has been duly and validly authorized by all necessary action on the part of Purchaser, and (ii) does not conflict with or constitute a breach of, or constitute a default under, any contract, agreement or other instrument by which Purchaser is bound or to which Purchaser is a party. SECTION 8. SELLER'S COVENANTS. From and after the date hereof, through and including the Closing Date, Seller agrees as follows: 8.1 Maintenance Prior to Closing. Between the date of this Agreement and the Closing Date, Seller shall maintain the Property, committing or permitting no waste thereto, such that at the time of the Closing, the Property shall be in substantially the same physical condition as on the date of Seller's execution of this Agreement 8.2 Notices. Seller shall, promptly upon Seller's obtaining knowledge thereof, provide Purchaser with a written notice of any event which has a material adverse effect on the physical condition of the Property. 8.3 Notices of Violation. Promptly after Seller obtains actual knowledge or upon receipt of written notice thereof, Seller has provided or shall provide Purchaser with written notice of any violation of any legal requirements affecting the Property, any service of process relating to the Property or which affects Seller's ability to perform its obligations under this Agreement. SECTION 9. PURCHASER'S DUE DILIGENCE AND INSPECTION OF PROPERTY 9.1 Inspection of Property; Access. Purchaser shall have forty five (45) days from the Effective Date to conduct any and all inspections which Purchaser desires to conduct, in order to determine the feasibility of the Property for Purchaser's intended purpose (the "Inspection Period "). Purchaser or its appointed agents or independent contractors shall have, at all reasonable times during the Inspection Period, the privilege of going upon the Property, at Purchaser's sole cost and expense, to inspect, examine, test, investigate, appraise and survey the Property, including, without limitation, soils and environmental tests and inspections. In exercising the privileges granted pursuant to this subsection 9. 1, Purchaser shall substantially restore the Property to the condition existing prior to such activities on the Property. Purchaser KADocs \0328 \001\354695503.D0C 8 agrees to indemnify, defend and hold Seller harmless from any actions, suits, liens, claims, damages, expenses, losses and liability for damage of any kind arising from or attributable to any acts performed by Purchaser or its appointed agents or independent contractors in exercising Purchaser's inspection rights under this subsection 9. 1, including reasonable attorneys' fees and costs. Purchaser hereby further agrees to defend, indemnify and hold Seller harmless from and against all liens on the Property filed by contractors, materialmen or laborers performing work and tests for Purchaser including reasonable attorney's fees and costs. The foregoing indemnities shall survive the Closing and any termination of this Agreement. In conducting any inspections, investigations or tests of the Property, Purchaser and its agents and representatives shall: (i) not interfere with the operation and maintenance of the Property; (ii) not damage any part of the Property or any personal property owned or held by any party; (iii) not injure or otherwise cause bodily harm to Seller, or its respective agents, guests, invitees, contractors and employees or their guests or invitees; (iv) comply with all applicable laws; (v) promptly pay when due the costs of all tests, investigations, and examinations done with regard to the Property; (vi) not permit any liens to attach to the Property by reason of the exercise of its rights hereunder; (vii) repair any damage to the Property resulting directly or indirectly from any such inspection or tests; and (vii) not reveal or disclose prior to Closing any information obtained concerning the Property except as may be otherwise required by applicable law. In the event that the Purchaser elects not to proceed with this transaction, the Purchaser shall restore the Property to its condition existing prior to Purchaser's inspections within five (5) days of canceling this transaction, and additionally Purchaser shall furnish Seller with copies of any inspection reports that it may have obtained during the Inspection Period, if any. The obligations of Purchaser in the preceding sentence shall survive the termination of this Agreement. 9.2 Termination Right. If Purchaser is dissatisfied, for any reason and in Purchaser's exclusive judgment, with the results of Purchaser's investigation and study of the Property on or before 5:00 p.m. on the Termination Date, then Purchaser may terminate this Agreement by notifying Seller and Seller's Attorney of such termination on or before 5:00 p.m. on the Termination Date, whereupon the Earnest Money shall be refunded to Purchaser by the Escrow Agent and thereafter neither party hereto shall have any further rights, obligations, or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. If Purchaser fails to timely notify Seller of such termination on or before 5:00 p.m. on the Termination Date, then Purchaser shall be deemed to have waived its right to terminate this Agreement pursuant to this subsection 9.2. and shall be deemed to have elected to accept the Property in its present AS -IS condition. SECTION 10. CLOSING. Subject to satisfaction of all conditions to Closing, the Closing shall be held during regular business hours on the date which is on or before fifteen days (15) days after Final Approval of the Site Plan Approval, as set forth in section 10.3.3. The Closing shall be held at the offices Seller or Seller's Attorney, at a time mutually acceptable to both parties. If no such selection is timely made, the Closing shall be held at 10:30 a.m. local time on the Closing Date or at such other time or such other place as may be mutually agreed in writing by the parties hereto. KADocs \0328 \001\354695503.D0C 9 10.1 Delivery: Possession. At Closing, Seller shall deliver to Purchaser the items required of Seller under this Agreement, and Purchaser shall deliver to Seller the balance of the Purchase Price (after crediting the Earnest Money and making other adjustments and prorations as provided herein) and the other items required of Purchaser under this Agreement. Seller shall deliver possession of the Property to Purchaser at the time of Closing. Risk of loss shall remain with Seller until Closing. 10.2 Closing Costs. 10.2.1 Seller's Costs. Seller shall pay (i) the fees and expenses of Seller's attorneys, and (ii) the cost of recording any corrective instruments. 10.2.2 Purchaser's Costs. Purchaser shall pay (i) any costs incurred by Purchaser in preparing and performing its due diligence investigations, (ii) the cost of the Title Commitment (including title search, examination and document preparation fees and other costs required by the Title. Company), (iii) the premium for the Owner's Title Policy (including any simultaneous issue to a mortgagee and all endorsements), (iv) the cost of recording the Deed, (v) the cost of the Survey, (vi) the documentary stamps due on the Deed, (vii) the surtax due on the Deed, (viii) the fees and expenses of Purchaser's attorneys, and (ix) all costs incurred with any financing of the Purchase Price or any portion thereof. 10.2.3 Other Costs. Any other costs not specifically provided for in subsection 10.2.1, subsection 10.2.2 or otherwise pursuant to the terms of this Agreement including escrow fees and other escrow related charges of the Escrow Agent in its capacity as escrow agent only, shall be paid by the party who incurred those costs, or if neither party is charged with incurring any such costs, then by the party customarily assessed for such costs in the place where the Property is located. 10.2.4 Survival. The provisions of this subsection 10.2 shall survive the Closing and the delivery of the Deed. 10.3 Purchaser's Conditions to Closing. Purchaser's obligation to purchase the Property is expressly conditioned upon the fulfillment or satisfaction of each of the following conditions precedent on or before the Closing Date (any of which may be waived only in writing by Purchaser in its discretion): KADocs \0328 \001\354695503.DOC 10 10.3.1 Seller shall have fully performed in all material respects each undertaking and covenant and agreement to be performed by Seller under this Agreement including, but not limited to, delivery of all items and documents required under Section 12 below; 10.3.2 Each representation and warranty made in this Agreement by Seller shall be complete, true and accurate in all material respects; 10.3.3 Purchaser shall have obtained from Seller "Final Approval" (which for purposes of this Agreement shall mean that all appeal periods have expired without the filing of an objection) of (i) a Site Plan permitting development of a maximum of 12,000 square feet of office space on the Property; and (ii) any necessary variances to the City of Aventura's Code to permit development of a maximum of 12,000 square feet of office space on the Property (collectively, the "Site Plan Approval "). No later than five (5) days after the Termination Date of this Agreement (the "Required Applications Filing Date "), Purchaser shall, at no cost or expense to Seller, submit to the Seller complete applications for the Site Plan Approval for the Property (collectively, the "Required Applications "), and thereafter diligently, expeditiously and in good faith prosecute the Required Applications, including the submittal of any documentation necessary and required by Seller in connection with processing and approval of such application. In the event that Purchaser has not obtained the Site Plan Approval within ninety (90) days of the Effective Date of this Agreement (the "Approval Period'), either party shall have the right to terminate this Agreement, whereupon the Earnest Money shall be returned to Purchaser by the Escrow Agent and thereafter neither party shall have any further rights, obligations or liabilities hereunder except to the extent that any right, obligation or liability set forth herein expressly survives termination of this Agreement. Seller shall have the right to elect, in its sole discretion, upon written notice given by Purchaser to Seller prior to the expiration of the Approval Period to extend the Approval Period by an additional thirty (30) days, provided such notice is accompanied by evidence reasonably demonstrating that Purchaser has timely submitted its application by the Required Applications Fling Date and has diligently, expeditiously and in good faith prosecuted the Required Applications. Seller agrees to process the Required Applications in accordance with applicable laws and requirements as set forth in its Code. Purchaser shall reimburse or pay Seller for all costs incurred by Seller in connection with any required variance applications as set forth in (ii) of this subsection, and said costs shall be reimbursed or payable to Seller no later than the Closing Date. Seller and Purchaser agree that the Site Plan KADocs\0328\00 1 \3 54695 503. DOC 11 Approval is a condition precedent to the Closing of the sale and purchase of the Property. 10.3.4 Right of -Way Dedication of Access Parcel by Seller. Simultaneously at the time of Closing, and provided that all Closing Contingencies have been satisfied, including the Site Plan Approval, Seller shall dedicate the Access Parcel as public right - of -way for the purpose of providing access and ingress and egress to and from the Property and Biscayne Boulevard. (a) Purchaser's Obligation to Construct and Maintain Access Improvements on Access Parcel. Purchaser shall, at its sole cost and expense, install and construct the Access Improvements on the Access Parcel in accordance with the sketch attached hereto and made a part hereof as Exhibit "C ", and shall obtain all required permits and approvals for such installation and construction of the Access Improvements from the Florida Department of Transportation ( "FDOT ") and Miami -Dade County, Florida, with all final plans for the access locations and Access Improvements to be approved by Seller. Any changes or modifications to Exhibit "C attached hereto shall require the prior approval of FDOT, Miami -Dade County and Seller. The Access Improvements shall be a condition of Site Plan Approval and shall be completed by Purchaser prior to the issuance of a Certificate of Occupancy for the Property. Upon completion of the Access Improvements, Purchaser shall convey and /or dedicate the Access Improvements on the Access Parcel to Seller as public right -of -way improvements. Purchaser shall, at its sole cost and expense, maintain the Access Improvements in good conditions and repair and in accordance with all applicable laws, requirements and standards of FDOT, Miami -Dade County, Florida and Seller, until such time as the westerly extension of N.E. 213 Street is constructed and completed. The obligations of Purchaser in this subsection shall survive the Closing and the expiration or termination of this Agreement. (b) Purchaser shall, at its sole costs and expense, obtain all required permits and approvals from FDOT and Miami -Dade County, Florida for the installation and construction of the Access Improvements, including a new mast arm at the easterly limit of the N.E. 213 Street and Biscayne Boulevard intersection, as shown on the sketch attached hereto as Exhibit "C ", and all required or necessary signalization and other improvements or facilities as may be required by FDOT or Miami -Dade County, Florida for the efficient and proper functionality of the intersection. The K:\Docs \0328 \001\354695503.DOC 12 obligations of Purchaser in this subsection shall survive the Closing and expiration or termination of this Agreement. (c) Seller intends at a future date to construct or have constructed a westerly extension to N.E. 213 Street, which extension will provide access to the Property. Upon the construction of the westerly extension of N.E. 213 Street providing access to and from the Property, the access and ingress and egress from the Property to and from N.E. 213 Street shall be limited to right -in and right -out only. The obligations of Purchaser in this subsection, including all restrictions as to access and ingress and egress from N.E. 213 Street, shall survive the Closing and expiration or termination of this Agreement. (d) In the event that the real property to the north and adjacent to the Access Parcel is developed, and the owner and/or developer of such parcel desires to connect and use the Access Parcel Improvements, Seller will recover from such owner and/or developer one half (1/2) of the costs of Purchaser's Access Parcel Improvements consisting of the mast arm installation at the limit of the intersection of N.E. 213 Street and Biscayne Boulevard and all required or necessary signalization and other improvements or facilities as required by FDOT and Miami -Dade County. Seller shall pay all recovered costs for such Access Parcel Improvements to Purchaser. If any of the foregoing conditions are not satisfied at or before the Closing Date, then Purchaser, as its sole remedy may either (1) terminate this Agreement by written notice to Seller, in which event the Earnest Money shall be returned to Purchaser and the parties shall be released from all obligations and liabilities under this Agreement except those that expressly survive termination of this Agreement or (2) elect to close and accept the Property and title thereto "as is" without claim against the Seller therefor and without reduction to the Purchase Price. If the Purchaser does not timely deliver to Seller such notice of termination by the Closing Date, then Purchaser shall be deemed to have elected to proceed pursuant to subsection (2) of the preceding sentence. If the failure of any of the foregoing would constitute a default hereunder, Purchaser shall have the rights and remedies provided in Section 16. 10.4 Seller's Conditions to Closing. Seller's obligation to sell the Property is expressly conditioned upon the fulfillment or satisfaction of each of the following conditions KADocs\0328\00 1\3 54695503.DOC 13 precedent on or before the Closing Date (any of which may be waived only in writing by Seller in its discretion): 10.4.1 Purchaser shall have fully performed in all material respects each undertaking and covenant and agreement to be performed by Purchaser under this Agreement; 10.4.2 Each representation and warranty made in this Agreement by Purchaser shall be complete, true and accurate in all material respects; If the failure of any of the foregoing conditions are not satisfied at or before the Closing Date, then in addition to any remedy available to Seller under this Agreement, Seller may terminate this Agreement by written notice to Purchaser, in which event the Earnest Money shall be delivered to Seller as agreed as liquidated damages and the parties shall be released from all obligations and liabilities under this Agreement except those that expressly survive termination of this Agreement; provided, however, that if any of the foregoing would constitute a default hereunder, Seller shall have the rights and remedies provided in Section 16. SECTION 11. PRORATIONS AND CREDITS AT CLOSING. All prorations to be made "as of the Closing Date" shall each be made as of 11:59 p.m. local time on the date immediately preceding the Closing Date. In each proration set forth below, the portion thereof allocable to periods beginning with the Closing Date shall be credited to Purchaser, or charged to Purchaser, as applicable, at Closing or, in the case of allocations made after Closing, upon receipt of such payments or invoice as of the Closing Date. Except as may otherwise be specified herein, the following items shall, as applicable, be prorated between Purchaser and Seller or credited to Purchaser or Seller: 11.1 Property Taxes and Assessments. 11.1.1 Taxes. The Property is currently exempt from real estate taxes. Purchaser shall be responsible for all real estate taxes forward from the Closing Date. 11.1.2 Special Assessments. Certified, confirmed and ratified special assessment liens as of Date of Closing (and not as of the date of this Agreement) shall be paid by Seller or Purchaser shall receive a credit therefor. Pending liens as of Date of Closing shall be assumed by Purchaser; provided, however, that where the improvement for which the special assessment was levied, had been substantially completed as of the date of this Agreement, such pending liens shall be considered as certified, confirmed or ratified and Seller shall, at Closing, be charged an amount equal to the estimated assessment for the improvement. KADocs \0328 \001\354695503.DOC 14 11.2 Other Matters. Seller and Purchaser shall make such other adjustments and apportionments as are expressly set forth in this Agreement. 11.3 Survival. The provisions of this Section 11 shall survive the Closing and the delivery of the Deed. In the event final figures have not been reached on any of the adjustments, prorations or costs which are to be adjusted at or prior to Closing pursuant to this Section 11, the parties shall close using adjustments and prorations reasonably estimated by Seller and Purchaser, subject to later readjustment when such final figures have been obtained. SECTION 12. CONVEYANCES AND DELIVERIES AT CLOSING. 12.1 Deed. At Closing, Seller shall convey the Property to Purchaser by a duly executed and recordable special warranty deed (herein referred to as "Deed ") in substantially the form attached hereto as Exhibit "D ". 12.2 Section 1445 Certificate. At Closing, Seller shall execute and deliver to Purchaser and the Title Company a certificate stating that Seller is not a "foreign person" as defined in Section 1445 of the Internal Revenue Code and the regulations thereunder. 12.3 Form 1099. At Closing, Seller shall execute and deliver to Purchaser and the Title Company such federal income tax reports respecting the sale of the Property as required by the Internal Revenue Code and such other information required by the Title Company to complete IRS Form 1099 with respect to this transaction. 12.4 Affidavit of Title. At Closing, Seller shall execute and deliver to Purchaser and to the Title Company a no -lien, possession and gap title affidavit in the form attached hereto as Exhibit "E ". 12.5 Closing Statement. At Closing, Seller and Purchaser shall execute and deliver a Closing Statement which shall, among other items, set forth the Purchase Price, all credits against the Purchase Price, the amounts of all prorations and other adjustments to the Purchase Price and all disbursements made at Closing on behalf of Purchaser and Seller in accordance with the terms of this Agreement. 12.6 Physical Possession. At Closing, Seller shall deliver to Purchaser possession of the Property. 12.7 Other Documents. At Closing, Seller and Purchaser shall deliver to each other any other documents expressly required to be delivered or furnished pursuant to any other provisions of this Agreement or reasonably required to carry out the purpose and intent of this Agreement. K:\Docs \0328 \001\354695503.DOC 15 SECTION 13. NOTICES. All notices, consent, approvals and other communications which may be or are required to be given by either Seller or Purchaser under this Agreement shall be properly given only if made in writing and sent by (i) hand delivery, or (ii) certified or registered mail, postage prepaid, return receipt requested, with all delivery charges paid by the sender and addressed to the Purchaser or Seller and their attorneys, as applicable, as set forth in Section 1. Such notices shall be deemed received, (1) if delivered by hand, on the date of delivery and (2) if sent by certified or registered mail, the date it is received as evidenced by signature on the return receipt. The refusal to accept delivery shall constitute acceptance and, in such event, the date of delivery shall be the date on which delivery was refused. Any change of address must be made by written notice to the other party and such change shall be effective five (5) days following receipt of such written notice by the other party. In the event that written notice, demand or request is made as provided herein, then in the event that such notice is returned to the sender by the U.S. Postal System because of insufficient address, or the party moved or otherwise (but not refusal of acceptance), such notices shall be deemed to have been received by the party to whom it was addressed on the date that such was initially placed in the U.S. Postal System by the sender. SECTION 14. CASUALTY AND CONDEMNATION. 14.1 Casualty. The Property shall be conveyed to Purchaser in the same condition as on the date of this Agreement, ordinary wear and tear excepted, free of all tenancies or occupancies. 14.2 Condemnation. At Closing, Seller shall assign to Purchaser all of Seller's right, title and interest in and to the beds of streets, roads, alleys, avenues and highways abutting the Property and all of Seller's right, title and interest in and to all awards in condemnation, or damages or any kind, to which Seller is entitled at the time of Closing, by reason of any exercise of power of eminent domain with respect thereto or for the taking of the Property or any part thereof or by reason of any other event affecting the Property which gives rise to a damage claim against a third Party after the date hereof. Prior to the Closing Date, if all or any portion of the Property is taken, or if access thereto is reduced or restricted by eminent domain or otherwise (or if such taking, reduction or restriction is pending, threatened or contemplated) (hereinafter a "Condemnation Proceeding "), Seller shall immediately notify Purchaser of such fact. In the event that such notice related to the taking of all or any portion of the Property, Purchaser shall have the option, in its sole and absolute discretion, to terminate this Agreement upon written notice to Seller given not later than five (5) days after receipt of Seller's notice; whereupon the Earnest Money shall be refunded to Purchaser and thereafter neither Party shall have any rights, obligations or liabilities hereunder except with respect to those rights, obligations or liabilities which expressly survive the termination of this Agreement. If Purchaser does not elect to terminate this Agreement as herein provided, Seller shall pay to Purchaser any award received by Seller prior to Closing and Purchaser shall have the right to participate with Seller in any Condemnation Proceeding affecting the Property; provided, that in doing so Purchaser shall cooperate with Seller in good faith. KADocs \0328 \001\354695503.DOC 16 SECTION 15. BROKERS. Seller and Purchaser warrants and represents to the other that such party has not employed (expressly or impliedly) any broker, agent or other such Person as to which a commission or other such fee is or would become due or owing as a result of the purchase and sale contemplated hereby and has made no agreement (express or implied) to pay any broker's commission or other such fees in connection with the purchase and sale contemplated by this Agreement. Each of Seller (subject to the provisions and monetary limitations of Section 768.28, F.S.) and Purchaser agrees to indemnify and defend the other against, and to hold the other harmless of and from all claims, demands and liabilities (including reasonable attorney's fees and expenses incurred in defense thereof) for any commission or fees payable to, or claimed by, any broker, agent or other such Person arising out of the employment or engagement of such Person employed (expressly or impliedly) by Seller of Purchaser, as applicable, or with whom Seller or Purchaser, as applicable, has or is claimed to have, made an agreement (express or implied) to pay a commission or other such fee. The representation, warranties, undertakings and indemnities of this Section 15 shall survive the Closing hereunder and any termination of this Agreement. SECTION 16. DEFAULT; REMEDIES. 16.1 Seller's Default/Purchaser's Remedies. Notwithstanding any other remedy provided for herein, if Seller defaults in the observance or performance of its covenants and obligations hereunder, Purchaser may, at its option, as its sole and exclusive remedy, elect to either (i) terminate this Agreement and receive a refund of the Earnest Money, or (ii) seek specific performance of this Agreement, in either case waiving any action for damages resulting from Seller's breach. 16.2 Purchaser's Default /Seller's Remedies. If Purchaser defaults in the observance or performance of its covenants and obligations hereunder, then Seller, as its sole and exclusive remedy, shall (as an election of remedies) receive the Earnest Money from Escrow Agent as liquidated damages. Purchaser and Seller acknowledge the difficulty of ascertaining the actual damages in the event of such default, that it is impossible to more precisely estimate the damages to be suffered by Seller upon such default, that the retention of the Earnest Money by Seller is intended not as a penalty but as full liquidated damages and that such amount constitutes a good faith estimate of the potential damages arising therefrom. Seller's right to so terminate this Agreement and to receive liquidated damages as aforesaid is Seller's sole and exclusive remedy. Seller hereby waives, relinquishes and releases any and all other rights and remedies, including but not limited to: (i) any right to sue Purchaser for damages or to prove that Seller's actual damages exceed the amount which is hereby provided Seller as fully liquidated damages or (ii) any other right or remedy which Seller may otherwise have against Purchaser, either at law, or equity or otherwise. SECTION 17. ESCROW AGENT. 17.1 Performance of Duties. Escrow Agent undertakes to perform only such duties as are expressly set forth in this Agreement. Escrow Agent shall not be deemed to have any implied duties or obligations under or related to this Agreement. KADocs \0328 \001\354695503.DOC 17 17.2 Reliance. Escrow Agent may (i) act in reliance upon any writing or instrument or signature which it, in good faith, believes to be genuine; (ii) assume the validity and accuracy of any statement or assertion contained in such a writing or instrument; and (iii) assume that any person purporting to give any writing, notice, advice or instructions in connection with the provisions of this Agreement has been duly authorized to do so. Escrow Agent shall not be liable in any manner for the sufficiency or corrections as to form, manner of execution, or validity of any instrument deposited in escrow, nor as to the identity, authority, or right of any person executing any instrument; Escrow Agent's duties under this Agreement are and shall be limited to those duties specifically provided in this Agreement. 17.3 Right to Interplead. If the parties (including Escrow Agent) shall be in disagreement about the interpretation of this Agreement, or about their respective rights and obligations, or about the propriety of any action contemplated by Escrow Agent, Escrow Agent may, but shall not be required to, file an action in interpleader to resolve the disagreement; upon filing such action, Escrow Agent shall be released from all obligations under this Agreement. 17.4 Attorney's Fees and Costs. In any suit between Purchaser and Seller wherein Escrow Agent is made a party because of acting as Escrow Agent hereunder, or in any suit wherein Escrow Agent interpleads the subject matter of the Escrow, Escrow Agent shall recover reasonable attorney's fees and costs incurred with the fees and costs to be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The parties hereby agree that Escrow Agent shall not be liable to any party or person for misdelivery to Purchaser or Seller of items subject to this escrow, unless such misdelivery is due to willful breach of this Agreement or gross negligence of Escrow Agent. 17.5 Escrow Agent as Counsel for Seller. It is acknowledged that Escrow Agent is counsel for Seller. It is agreed that Escrow Agent shall not be disabled or disqualified from representing Seller in connection with any dispute or litigation which may arise out of or in connection with this transaction or this Agreement as a result of Escrow Agent acting as the escrow agent under this Agreement and the Seller and Purchaser waive any claim or right to assert a conflict arising out of or in connection with the foregoing. SECTION 18. MISCELLANEOUS PROVISIONS. 18.1 Entire Agreement. This Agreement, and all the Exhibits referenced herein and annexed hereto, contain the final, complete and entire agreement of the parties hereto with respect to the matters contained herein, and no prior agreement or understanding pertaining to any of the matters connected with this transaction shall be effective for any purpose. Except as may be otherwise expressly provided herein, the agreements embodied herein may not be amended except by an agreement in writing signed by the parties hereto. 18.2 Governing Law. This Agreement shall be governed by and construed under the laws of the State of Florida. Venue for any litigation arising out of this Agreement shall be in Miami -Dade County, Florida. K:\Docs \0328 \001\354695503.DOC 18 18.3 Interpretation. The titles, captions and paragraph headings are inserted for convenience only and are in no way intended to interpret, define, limit or expand the scope or content of this Agreement or any provision hereto. If any party to this Agreement is made up of more than one Person, then all such Persons shall be included jointly and severally, even though the defined term for such party is used in the singular in this Agreement. This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party causing this Agreement to be drafted. If any words or phrases in this Agreement shall have been stricken out or otherwise eliminated, whether or not any other words of phrases have been added, this Agreement shall be construed as if the words or phrases so stricken out or otherwise eliminated were never included in this Agreement and no implication or inference shall be drawn from the fact that said words or phrases were so stricken out or otherwise eliminated. 18.4 Counterparts. This Agreement may be executed in separate counterparts. It shall be fully executed when each party whose signature is required has signed at least one counterpart even though no one counterpart contains the signatures of all of the parties of this Agreement. Facsimile copies shall be deemed originals. 18.5 Non - waiver. No waiver by Seller or Purchaser of any provision hereof shall be deemed to have been made unless expressed in writing and signed by such party. No delay or omission in the exercise of any right or remedy accruing to Seller or Purchaser upon any breach under this Agreement shall impair such right to remedy or be construed as a waiver of any such breach theretofore or thereafter occurring. The waiver by Seller or Purchaser of any breach of any term, covenant or condition herein stated shall not be deemed to be a waiver of any other breach, or of a subsequent breach of the same or any other term, covenant or condition herein contained. 18.6 Severability. This Agreement is intended to be performed in accordance with and only to the extent permitted by applicable law. If any provisions of this Agreement or the application thereof to any Person or circumstance shall, for any reason and to any extent, be invalid or unenforceable, but the extent of the invalidity or unenforceability does not destroy the basis of the bargain between the parties as contained herein, the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected thereby, but rather shall be enforced to the greatest extent permitted by law. 18.7 Exhibits. The Exhibits referred in and attached to this Agreement are incorporated herein in full by this reference. 18.8 Attorneys' Fees. In the event of any controversy, claim or dispute between the parties arising from or relating to this Agreement (including, but not limited to, the enforcement of any indemnity provisions), the prevailing party shall be entitled to recover reasonable costs, expenses and attorneys' fees including, but not limited to, court costs and other expenses through all trial and appellate levels. K:\Docs \0328 \001\354695503.DOC 19 18.9 Business Days. If any date provided for in this Agreement shall fall on a day which is not a Business Day, the date provided for shall be deemed to refer to the next Business Day. 18.10. Time is of the Essence. Time is of the essence in this Agreement. 18.11 Effective Date. For purposes of calculation of all time periods within which Seller or Purchaser must act or respond as herein described, all phrases such as "the date of this Agreement ", "the date of execution of this Agreement" or any other like phrase referring to the date of the Agreement, shall mean and refer to the "Effective Date" of this Agreement. 18.12 Radon Disclosure. Pursuant to the requirements of §404.056(5), Florida Statutes, Seller makes the following disclosure to Purchaser. Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 18.13 Waiver of Trial by Jury. SELLER AND PURCHASER HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT OR COUNTERCLAIM ARISING IN CONNECTION WITH, OUT OF OR OTHERWISE RELATING TO THIS AGREEMENT AND ANY OTHER DOCUMENT OR INSTRUMENT NOW OR HEREAFTER EXECUTED AND DELIVERED IN CONNECTION THEREWITH. 18.14 Assignment. Purchaser may not assign, transfer or encumber this Agreement or any of its rights hereunder without the prior written consent of Seller. 18.15 Recording. This Agreement or any memorandum thereof shall not be recorded in the Public Records of Miami -Dade County and any such recording shall constitute a material default by the applicable party. 18.16 Police/Regulatory Powers. Seller cannot, and hereby specifically does not, waive or relinquish any of its regulatory approval or enforcement rights and obligations as it may relate to regulations of general applicability which may govern the Property, any improvements thereon, or any operations at the Property. Nothing in this Agreement shall be deemed to create an affirmative duty of Seller to abrogate its sovereign right to exercise its police powers and governmental powers by approving or disapproving or taking any other action in accordance with its zoning and land use codes, administrative codes, ordinances, rules and regulations, federal laws and regulations, state laws and regulations, and grant agreements. In addition, nothing herein shall be considered zoning by contract. KADocs \0328 \001\354695503.DOC 20 18.17 No Third Party Beneficiaries. Neither the Purchaser nor Seller intends to directly or substantially benefit a third party by this Agreement. Therefore, the parties agree that there are no third party beneficiaries to this Agreement and that no third party shall be entitled to assert a claim against any of the parties based upon this Agreement. The parties expressly acknowledge and agree that it is not their intent to create any rights or obligations in any third party or entity under this Agreement. 18.18 Compliance with Laws. Each party shall comply with all applicable federal, state, and local laws, codes, ordinances, rules and regulations in performing its duties, responsibilities and obligations pursuant to this Agreement. 18.19 Recitals. The Recitals set forth at the commencement of this Agreement are true and correct and incorporated herein in full by this reference. [THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK] KADocs \0328 \001\354695503.D0C 21 IN WITNESS WHEREOF, Seller and Purchaser have caused this Agreement to be executed as of the day and year written below their signatures. SELLER: CITY OF AVENTURA, a Florida municipal corporation By: Eric M. Soroka, City Manager Dated: , 2013 Attest: By: City Clerk Approved as to legal form and Sufficiency: City Attorney KADocs \0328 \001\354695503.DOC 22 IN WITNESS WHEREOF, Seller and Purchaser have caused this Agreement to be executed as of the day and year written below their signatures. KADocs \0328\001 \3546955.DOC 23 PURCHASER: PRESIDENTIAL AVENN�T,I PROPERTIES, LLC, a o da Limited Gordon, Dated: A' 2013 ESCROW AGENT: The Escrow Agent hereby joins in this Agreement for purposes of agreeing to the provisions of Sections 3 and 17 hereof. WEISS SEROTA HELFMAN PASTORIZA COLE & BONISKE, P.L. By: Name: Title: Dated: 2013 KADocs \0328 \001\354695503.DOC 24 EXHIBIT "A" THE PROPERTY Certain real property located in Miami -Dade County as more particularly described as follows: DESCRIPTION: CRY PARCEL A PORTION OF LOT 1, BLOCK 3, SECTION 34, TOWNSHIP 51 SOUTH, RANGE 42 EAST, TOWN OF HALLANDALE. ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "B ", PAGE 13, OF THE PUBLIC RECORDS OF MIAMI -OADE COUNTY, FLORIDA, AND A PORTION OF THE RESERVED AREA OF HALLANDALE PARK, ACCORDING TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK 12. PAGE 37, OF THE PUBLIC RECORDS OF MIAMI -DAOE COUNTY. FLORIDA. DESCRIBED AS FOLLOWS: BEGINNING AT THE INTERSECTION OF THE SOUTH BOUNDARY OF SAID LOT 1, WITH THE WEST RIGHT OF WAY OF BISCAYNE BOULEVARD; THENCE SOUTH 419•5944" WEST, ALONG THE SOUTH BOUNDARY OF SAID LOT 1 AND THE SOUTH LINE OF SAID HALLANDALE PARK, A DISTANCE OF 156.02 FEET TO THE EAST LINE EXTENDED SOUTH OF BLOCK 40 OF SAID HALLANDALE PARK; THENCE NORTH 00.06'20" WEST, ALONG THE SAID EAST LINE EXTENDED. A DISTANCE OF 32.06 FEET; THENCE NORTH 88.5373" EAST, A DISTANCE OF 31.86 FEET; THENCE NORTH 00.4940• WEST, A DISTANCE OF 103.26 FEET; THENCE SOUTH 76.08'30° EAST, A DISTANCE OF 33.54 FEET; THENCE SOUTH 68'0910" EAST, A DISTANCE OF 104.55 FEET; THENCE SOUTH 23.20'50 EAST, A DISTANCE OF 42.32 FEET TO THE WEST RIGHT OF WAY OF BISCAYNE BOULEVARD, SAID POINT BEING ON THE ARC OF A CURVE CONCAVE NORTHWESTERLY, WHOSE RADIUS POINT BEARS NORTH 67.4t'37• WEST FROM THE LAST DESCRIBED PONT, THENCE SOUTHWESTERLY, ALONG SAID RIGHT OF WAY AND THE ARC OF SAID CURVE, HAVING A RADIUS OF 3704.63 FEET, A CENTRAL. ANGLE OF 00'81'11 ", FOR AN ARC DISTANCE OF 56.35 FEET TO THE POINT OF BEGINNING. SAID LANDS SITUATE IN THE CITY OF AVENTURA. MIAMI•DAOE COUNTY, FLORIDA. CONTAINING 16400 SOUARE FEET OR 0.379 ACRES MORE OR LESS. THE BEARINGS REFERENCED ON THE ATTACH SKETCH ARE BASED ON AN ASSUMED BEARING. THE SOUTH BOUNDARY OF SAID LOT 1 IS ASSUMED TO BEAR SOUTH 69.50'44" WEST. THE ATTACHED SKETCH IS BASED ON A SURVEY PREPARED BY BLOOMSTER PROFESSIONAL LAND SURVEYORS, INC. DATED 03- 18.98, UNDER JOB NUMBER 2112, AS PROVIDED BY CLIENT. CERTIFICATE: WE HEREBY CERTIFY THAT THIS DESCRIPTION AND SKETCH CONFORMS TO THE MINIMUM TECHNICAL STANDARDS FOR LAND SURVEYING IN THE STATE OF FLORIDA, AS OUTLINED IN CHAPTER 6/0174 (FLORIDA ADMINISTRATIVE COOED, AS ADOPTED BY THE DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, BCARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN SEPTEMBER, 19111, AS At1ENDED, PURSUANT TO CHAPTER 472027 OF THE FLORIDA STATUTES, AND IS TRUE AND CORRECT TO THE BEST OF OUR KNOWLEDGE AND BELIEF. CRAVEN THOMPSON 6 ASSOCIATES, INC. CERTIFICATE OF AUTHORIZATION NUMBER LB 271 r��:E.:..��N7 A SPENCER PROFESSIONAL SURVEYOR AND MAPPER NO. 688 STATE OF FLORIDA Not WIW WIIho1A the s19rWuM and ttm ort9Nml raised qal oI a rhwwa Noansed surveyor and mapper. SHEET 1 OF 2 SHEETS N:ICNHe�Nt1aa134a1'9f 01NLLEGAUaaD 113 ST CRY PA110ELAOINI doe Cmmud - 414*W7 3:Se.40 PV D000"4 KADocs \0328 \001\354695503.D0C 25 CRAVE. -THOMPSON 8, A� )OCIATES, INC. C ENGINEERS PLANNERS SURVEYORS 3563 N.W. 53RD STREET FORT LAUDERDALE, FLORIDA 33309 (954) 739 -6400 OAK: (954) 739 -6409 IMS IS y2 A SK(TCH Or SMVEV, wt a•, • e'wAtt tt►Ntlan roR: CITY OF AVENTURA a IM aenvh0n Me.n n«ean iti «e Aes can N A «e .at, Ae.:p Iht Hr►Mtl etP «Ir. « nynNnMlt wt rn tm•KINn .iln IN MenM0lyn a Int tnlerrna4n tne.n n«.at SKETCH TO A CYOPAANY DESCRIPTION RcRADIUS D :M TA ANGLE ® O 20 40 AARC L SO FT,.SwAp SOVARE FEfI N PB . PLAT goal SCALE 1 " =40' PC . PADS uDCR ANAAR -DADf CoU)vIY lot W ORM r', A 4�laC7' 5�tQ0��c�o e c� � G0 I,� >�6 Q �1 3.7 raw S ! S 69 �rO`e, dmQQ�4'I 5 yn� cl kir � 1R.�uj u q 10 40 w woks V I = E A 4�laC7' 5�tQ0��c�o e c� � G0 I,� >�6 Q 3.7 raw S ! S 69 �rO`e, 6 Qys ; t g 10 i` l g fo0�1 � 2 � MCI r -a -*AY O£aCA naV • (PER OWR DXAwNT) / 100_11 � 1 J286' 3284' NB9'SJ 1JY' i AT 21J o o. STREET s 8950'4°" If (X! 756.02' SOUTH LNfC OF STN BOUNDARY LOT 1 MALLENOALf DAR, E N r3' DRA#VAOF FAWMFNT P8 12. PC ST, MOCR ry D (PER OTHER Do(y/M£NT Porar or ar m v#vc DQ WrfR5ECnoN SOU7N BOUNDARY hm 4 2 LC7 L AND &Mf AtrK' /WARD ¢l� V SHEET 2 Or 2 SHEETS UPDATES one /a REVISIONS DATE BY CWD r4 W fne «fwn.a °"° a•t2n IHpNSOrf aV A<SOCIATES, wC. mat n rte.e,enbtaiN eudOnteta n, le Mt inr«m0lien rt'NClta n «tan e«taini�p N fem«.I,. rieMf-a'neT ftl sack IirNe. ftl«.a,r«r 1 O9rttmTtf OIhK «mlbr rblt «f. W MM «. bif infN«*Mt it na wl!nate 10 rtMo ct « ftl Laln 011 ,.KA matraf 5•tn "rlftMmaNn fneda tN oelanN dW cenlarnN er aherf tMee,p. p0erfsr�wt riW .ei.f etie. r,LQTj LOMf fb.n IN.etn - «e wl aeft.ttlta rs rpnl- or -.tr ana /ar e0f«n«IR DI .ttaa O: \2001 \OID103 \DWG \5D -NE 213 ST DEDrCAT+t2N- REVr.OwO J08 NO.: 01 -OIOS DRANN BV: BAS CHECKED BY: NRM f.B.N /A PG. N/A DATED; 06/06/!' { No h o� K:\Docs \0328 \001\354695503.DOC 26 EXHIBIT `B" ACCESS PARCEL DESCRIPTION: RIGHT OF WAY DEDICATION A PORTION OF LOT 1, BLOCK 3, SECTION 24, TOWNSHIP 51 SOUTH, RANGE 42 EAST, TOWN OF HALLANDALE, ACCORWNG TO THE PLAT THEREOF, AS RECORDED IN PLAT BOOK "B ", PAGE 13, OF THE PUBLIC RECORDS OF MIAMI•DADE COUNTY, FLORIDA, DESCRIBED AS FOLLOWS: COMMENCE AT THE INTERSECTION OF THE SOUTH BOUNDARY OF SAID LOT 1, WITH THE WEST RIGHT OF WAY OF BISCAYNE BOULEVARD, SAID POINT BEING ON THE ARC OF A CURVE CONCAVE NORTHWESTERLY, WHOSE RADIUS POINT BEARS NORTH 00'50'22^ WEST FROM THE LAST DESCRIBED POINT; THENCE NORTHEASTERLY, ALONG SAID ROM OF WAY AND THE ARC OF SAID CURVE, HAVING A RADIUS OF 3764.03 FEET, A CENTRAL ANGLE OF 00'51'11 ", FOR AN ARC DISTANCE OF 50.3E FEET TO THE POINT OF BEGINNING;* ING; THENCE NORTH 23120'SO' WEST, A DISTANCE OF 42.32 FEET; THENCE NORTH 49'49'10' WEST, A DISTANCE OF 100.55 FEET TO THE EAST LINE OF RESERVED AREA. HALL64DALE PARK, PLAT BOOK 12, PAGE 37, MIAMI DADE COUNTY RECORDS; THENCE NORTH 01.19'40' WEST, ALONG SAID EAST LINE, A DISTANCE OF 34A2 FEET; THENCE NORTH 49'50'15' EAST, A DISTANCE OF 138.59 FEET TO SAID WEST RIGHT Of WAY OF BISCAYNE BOULEVARD, SAID PONT BEING ON THE ARC OF A CURVE CONCAVE NORTHWESTERLY, WHOSE RADIUS POINT BEARS NORTH 49'29138' WEST FROM THE LAST DESCRIBED POINT; THENCE SOUTHWESTERLY, ALONG SAKI RIGHT OF WAY AND THE ARC OF SAID CURVE, HAVING A RADIUS OF 3764.03 PERT, A CENTRAL ANGLE OF 01'4905', FOR AN ARC DISTANCE OF 119.0 FEET TO THE POINT OF BEGINNING, SAID LANDS SITUATE IN THE CITY OF AVENTURA, MIAMI'DADE COUNTY, FLORDA. CONTAINING 9145 SQUARE FEET OR 0.210 ACRES MORE OR LESS. THE BEARINGS REFERENCED ON THE ATTACH SKETCH ARE BASED ON AN ASSUMSD SEARING. THE SOUTH BOUNDARY OF SAID LOT i IS ASSUMED TO BEAR SOUTH 89'50'44" WEST. THE ATTACHED SKETCH IS BASED ON A SURVEY PREPARED BY BLOOMSTER PROFESSIONAL LAND SURVEYORS, INC. DATED 03.1&98, UNDER JOB HUMBER 2112, AS PROVIDED BY CLIENT, CERTIFICATE: WE HEREBY CERTIFY THAT THIS DESCRIPTION AND SKETCH CONFORMS TO THE MINIMUM TECHNICAL STANDARDS FOR LAND SURVEYING IN THE STATE OF FLORIDA, AS OUTLINED IN CHAPTER 61017.8 (FLORIDA ADMINISTRATIVE CODE). AS ADOPTED BY THE DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, BOARD OF PROFESSIONAL SURVEYORS AND MAPPERS IN SEPTEMBER, 19111, AS AMENDED, PURSUANT TO CHAPTER 472.027 OF THE FLORIDA STATUTES, AND IS TRUE AND CORRECT TO THE BEST OF OUR KNOWLEDGE AND BELIEF. CRAVEN THOMPSON A ASSOCIATES, tNC. CERTIFICATE OF AUTHORIZATION NUMBER LB 271 BRENT A SPENCER PROFESSIONAL SURVEYOR AND MAPPER NO. 63U STATE OF FLORIDA NW vale whhwA the Nyroprs and the orylnal ratad saN of • FWWo itcsrrssd surveyor and mapper. SHEET i OF 2 SHEETS r k11I1NiYM109a1i001w14ga7i1 .90AL1aW 215 aT 6agCATWN#aYtAOc croewd M GROW 3:10m w oalwama K:\Docs \0328 \001\354695503.DOC 27 CCR " "EN •THOMPSON & AS`' '.IATES, INC. T EN�1riEERS PLANNERS SURVEYORS 3563 N.W. 53RD STREET FORT LAUDERDALE. FLORIDA 33309 (954) 739 -6400 FAX: (954) 739 -6409 �N�y /� ♦��1T' Np�[� THIS K T A 9RICH Or WKY. 0.1 aq,. y.ONI I.OI.1M FOR: CITY Vf AVEN IURA FL. ftw*lwrwa tww. nw* iw me m MN -A. r _%q a 1 -soli w.N•Ir, w nu.u.I.nl. w N --t- .R% 1M N W .1.0..NM Nhr.n. {M IH..n n.ryn. SKETCH TO ACCOMPANY DESCRIPTION 0 20 40 R.R.Wvs RIGHT -OF -WAY DEDICATION I IA V A.AERC EE7✓f;TNE SCALE 1 " =40' 50 rr.SOUARE Mfr 5� �2 X 7 4aJ 145 = N dow,11, E 1 q o ,pOnr- OF- INIY OEOKA RON h 9141 SQ rr (0710 A07S) 04 01 b >Onp 10 z J i PANT OF BEGOW NG—T F STR££T j1$ L- -- - -- ------ - - - - -- �- l r .....__J__ .I 9 S1N BOUNOAAY lOr 1 � M 1 rS' pPAMALY EASCLfMT SW 'W I (PtR 01WR DOCVMCMrj J CCNSNS.•fjti° �TERSECriav SovC NOLwA4A1 Y to! / ANO NE'Sr R.CNr Or WAY t4 61SCA 1W EMEVARD SHEET 2 OF 2 SHEETS UPDATES One /a REMSMS DATE Br CK'D 1n+ ""t"'y"N °"t CI1A.[w-rAO�' s ASWOAWS, W_ nw.w.tNNn. w NwwN.M a U V Nf—u . 4.t" 1......... wb " M ...wwwh..t4.1f- .I -w7. w s w-, ...w..tl.n., N++"' . w.t .nw ..N�M..MHwA .n. MtMe. PI. R k--1 4, M NN..N M .I.K, w w IwM a Nc. nw1W► swh .1W -otwn .H.W. 0. w.lw .M —&..a Or .tAw. O...y...w.wl.b tKt. t�llE two.. asw 1e .w1 net a.11K1M W AqM -N -•.Y W/w G \2001 \010103 \D11C \SO -NE 213 Sr DEDICATION- REV1.OKC JOB NO.: 01 -0103 ORANN BY: BAS CHECKED BY: MM F.B.N /A PC, NIA DATED: 06/06/07 KADocs \0328 \001\354695503.DOC 28 EXHIBIT "C" SKETCH OF ACCESS PARCEL IMPROVEMENTS K:\Docs \0328 \001\354695503.DOC 29 M c: c„ rn m ii Z L, I.~ -=3 'r r`T! > C, Z — rTj "v w"i LN Rl S c:- Z I 4 X z This instrument prepared by: Record and return to: Lillian M. Arando, Esq. Weiss Scrota Hellman Pastoriza Cole & Boniske, P.L. 2525 Ponce de Leon Blvd., Suite 700 Coral Gables, Florida 33134 Tax Folio Numbers: EXHIBIT "D" FORM OF SPECIAL WARRANTY DEED SPECIAL WARRANTY DEED THIS SPECIAL WARRANTY DEED is made and executed this day of , 2013, by CITY OF AVENTURA, a Florida municipal corporation (the "Grantor "), whose mailing address is 19200 West Country Club Drive, Aventura, Florida 33180 to PRESIDENTIAL AVENTURA PROPERTIES, LLC, a Florida Limited liability Company (the "Grantee "), whose mailing address is WITNESSETH: That Grantor, for and in consideration of the sum of Ten and No /100 Dollars ($10.00) and other good and valuable consideration, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto Grantee the real property (the "Property") located in Miami -Dade County, Florida, and more particularly described as: SEE EXHIBIT "A "ATTACHED HERETO. SUBJECT TO: 1. All restrictions, reservations, easements, covenants, agreements, limitations and other matters appearing of record, provided the foregoing shall not act to reimpose same; 2. The lien of all ad valorem real estate taxes and assessments subsequent to the date hereof and subsequent years; 3. All laws, ordinances, and governmental regulations, including, but not limited to, all applicable building, zoning, land use and environmental ordinances and regulations; and 4. All matters which would be disclosed by an accurate survey of the Property. TOGETHER with all the tenements, hereditaments and appurtenances belonging or in any way appertaining to the Property. K:\Docs \0328 \001\354695503.DOC 30 TO HAVE AND TO HOLD the same in fee simple forever. AND GRANTOR hereby covenants with Grantee that Grantor is lawfully seized of the Property in fee simple; that Grantor has good right and lawful authority to sell and convey the Property; and that Grantor does hereby specially warrant the title to the Property and will defend the same against the lawful claims of all persons claiming by, through or under Grantor. IN WITNESS WHEREOF, Grantor has caused this Special Warranty Deed to be executed as of the day and year first written above. Witnesses: Print Name: Print Name: ATTEST: City Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY: City Attorney STATE OF FLORIDA ) SS: COUNTY OF MIAMI -DADE ) GRANTOR: CITY OF AVENTURA, a Florida municipal corporation By:_ Name: Title: The foregoing instrument was acknowledged before me this — day of 92013, by , as , of the City of Aventura, a Florida municipal corporation, on behalf of the corporation, who (check one) [ ] is personally known to me or [ ] has produced a driver's license as identification. [SEAL] Notary Public Print Name: Commission Expires: KADocs \0328 \001\354695503.D0C 31 EXHIBIT "A" LEGAL DESCRIPTION AND SKETCH OF PROPERTY K:\Docs \0328 \001\354695503.DOC 32 EXHIBIT "E" FORM OF SELLER'S AFFIDAVIT OF TITLE SELLER'S NO -LIEN POSSESSION AND GAP AFFIDAVIT STATE OF FLORIDA ) SS: COUNTY OF MIAMI -DADE ) BEFORE ME, the undersigned authority, personally appeared _ (the "Affiant "), who being first duly sworn upon oath, deposes and says: 1. That the Affiant is the municipal corporation (the "Corporation ") of CITY OF AVENTURA, a Florida 2. That the Corporation is the owner of fee simple title to the real property located in Miami -Dade County, Florida, more particularly described on Exhibit "A" attached hereto and by this reference made a part hereof ( "Property"). 3. That there are no mechanic's liens under Chapter 713 of the Florida Statutes filed against the Property or any portion thereof; that there have been no repairs, improvements or other work done to or labor, materials or services bestowed upon the Property or any portion thereof for which any or all of the cost of the same remains unpaid; and that no person, firm or corporation is entitled to a mechanic's lien against the Property or any portion thereof under Chapter 713 of the Florida Statutes. 4. The Corporation is in exclusive possession of the Property and no person, firm or corporation has any interest or claim of possession with respect to the Property or any portion thereof which is not a matter of record in the Public Records of Miami -Dade County, Florida. 5. That there are no unsatisfied judgments or any federal, state or county tax deficiencies, which are a lien against the Property or any portion thereof. 6. That the Property is free and clear of all mortgages, liens, taxes, assessments, fees, and encumbrances whatsoever, except for: (a) real estate taxes and assessments subsequent to the date hereof and subsequent years; and (b) those matters appearing as exceptions to title in the title commitment issued on by with an effective date of at (collectively, the "Title Company "). 7. That there are no actions or proceedings now pending in any state or federal court to which the Corporation is a party which would affect the title to the Property or any portion thereof. KADocs\0328\00 1 \3 54695 503.DOC 33 8. That to best of Affiant's knowledge, there are no unrecorded easements or claims of easements affecting the Property or any portion thereof. 9. That the Corporation has never been adjudicated bankrupt or incompetent, nor does the Corporation have any judgments, tax liens or liens of any nature whatsoever filed against it affecting the Property. 10. That there are no matters pending against the Corporation that could give rise to a lien that would attach to the Property or any portion thereof between at and the recording of the Special Warranty Deed from the Corporation to the Presidential Aventura Properties, LLC, a Florida limited liability company ( "Grantee "), and that the Corporation has not and will not execute any instrument that would adversely affect the title to or transfer of the Property or any portion thereof from the Corporation to the Grantee. FURTHER AFFIANT SAYETH NAUGHT. Witnesses: Print Name: Print Name: ATTEST: City Clerk APPROVED AS TO FORM AND LEGAL SUFFICIENCY City Attorney SELLER: CITY OF AVENTURA, a Florida municipal corporation By:_ Name: Title: KADocs \0328 \001\354695503.DOC 34 STATE OF FLORIDA COUNTY OF MIAMI -DADE The foregoing instrument was acknowledged before me this day of 3 2013, by ,as ,of the City of Aventura, a Florida municipal corporation, on behalf of the corporation, who (check one) [ ] is personally known to me or [ ] has produced a driver's license as identification. My Commission Expires: Notary Public Print Name: KADocs \0328 \001\354695503.D0C 35 EXHIBIT "A" PROPERTY K:\Docs \0328 \001\354695503.DOC 36 MIAMI DAILY BUSINESS REVIEW Published Daily except Saturday, Sunday and Legal Holidays Miami, Miami -Dade County, Florida STATE OF FLORIDA COUNTY OF MIAMI -DADE: Before the undersigned authority personally appeared O.V. FERBEYRE, who on oath says that he or she is the VICE PRESIDENT, Legal Notices of the Miami Dailv Business Review f /k /a Miami Review, a daily (except Saturday, Sunday and Legal Holidays) newspaper, published at Miami in Miami -Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of CITY OF AVENTURA - PUBLIC HEARING 3/5/2013 RE: AVENTURA FASHION ISLAND LP 03- VAR -13 in the XXXX Court, was published in said newspaper in the issues of 02/20/2013 Affiant further says that the said Miami Daily Business Review is a newspaper published at Miami in said Miami -Dade County, Florida and that the said newspaper has heretofore been continuously published in said Miami -Dade County, Florida, each day (except Saturday, Sunday and Legal Holidays) and has been entered as second class mail matter at the post office in Miami in said Miami -Dade County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he or she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securing is adverti for publication in the said newspap . Sworn to and subscribed before me this 2?AL) of FEBRUARY A.D. 2013 ( O.V. FERBEYRE personally known to me B. THOMAS *: = Commission # DD 937532 a. Expires November 2, 2013 '''�„ ., °,:•�• Bonded Thru Troy fain Insurance 8003{S7U19 t :yt t: t�, r t1- ".i CITY OF AVENTURA NOTICE OF PUBLIC HEARING Date and Time of Public Hearing: Tuesday, March 5, 2013 6:00 p.m. Applicant Name /Number: Aventura Fashion Island LP 03- VAR -13 Applicant Request: Variance from Section 31 -145 (b)(5) h. of the City Code to allow common open space of 29.35 %, where a minimum 35 common open space is required by Code for the TC1 (Town Center) District; and variance from Section 31- 171(a)(6)a. of the City Code to allow an existing 8.4 foot and an existing 8.5 foot wide parking stall, where a minimum parking stall width of 9 feet is required by Code; and variance from Section 31- 171(a)(7) of the City Code to allow an existing 4 foot and 5 foot setback to parking pavement, where a minimum 10 foot setback is required by Code; and variance of Section 31- 221(i)(3) a.i. of the City Code to allow an existing 5 foot wide and an existing 6 foot wide terminal island, where a minimum terminal island width of 7 feet is required by Code; and variance from Section 31- 221(i)(3)a.2. of the City Code to allow parking rows with more than nine contiguous parking spaces without a landscaped island, where a minimum of one 7 foot wide landscaped island for every nine parking spaces is required by Code; and variance from Section 31- 221(i)(3)a.2 of the City Code to allow an existing 0 foot wide, an existing 3.9 foot wide and an existing 4.8 foot wide divider median, where a minimum 7 foot wide divider median is required by Code. Location of Subject Property: Town Center Aventura 2711 NE 187 Street,-City of Aventura Legal Description: a portion of Tracts A & B, Regina Square Subdivision, according to the Plat thereof a' recorded in Plat Book 113, at Page 27 of the Public Records of Miami -Dade County, City of Aventura (complete legal description is on file and available at the Community Development Department, City of Aventura Government Center at the address below) Plans are on file and may be examined during regular business hours at the City of Aventura Government Center, Community Development Department, 19200 West Country Club Drive, Aventura, Florida, 33180. Plans may be modified at or before the Public Hearing. The application may change during the hearing process. The Public Hearing will be held in the City Commission Chamber at City of Aventura Government Center at the address above. Your comments may be made in person at the hearing or filed in writing prior to the hearing date. Refer to applicantiproperty on correspondence and mail same to City of Aventura Government Center, Community Development Department at the address above. For further information, please call (305) 466 -8940. In accordance with the Americans with Disabilities Act of 1990, all persons who are disabled and who need special accommodations to participate in this proceeding because of that disability should contact the Office of the City Clerk, (305) 466 -8901, not later than two business days prior to such proceedings. If a person decides to appeal any decision made by the City Commission with respect to any matter considered at a meeting or hearing, that person will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. Teresa M. Soroka, MMC, City Clerk 2 /P0 13- 3- 243/2035708M MIAMI DAILY BUSINESS REVIEW Published Daily except Saturday, Sunday and Legal Holidays Miami, Miami -Dade County, Florida STATE OF FLORIDA COUNTY OF MIAMI -DADE: Before the undersigned authority personally appeared O.V. FERBEYRE, who on oath says that he or she is the VICE PRESIDENT, Legal Notices of the Miami Daily Business Review f /k /a Miami Review, a daily (except Saturday, Sunday and Legal Holidays) newspaper, published at Miami in Miami -Dade County, Florida; that the attached copy of advertisement, being a Legal Advertisement of Notice in the matter of CITY OF AVENTURA - PUBLIC HEARING 3/5/2013 RE: PUBLIC STORAGE 01 -CU -13 & 02- VAR -13 in the XXXX Court, was published in said newspaper in the issues of 02/20/2013 Affiant further says that the said Miami Daily Business Review is a newspaper published at Miami in said Miami -Dade County, Florida and that the said newspaper has heretofore been continuously published in said Miami -Dade County, Florida, each day (except Saturday, Sunday and Legal Holidays) and has been entered as second class mail matter at the post office in Miami in said Miami -Dade County, Florida, for a period of one year next preceding the first publication of the attached copy of advertisement; and affiant further says that he or she has neither paid nor promised any person, firm or corporation any discount, rebate, commission or refund for the purpose of securinclthis advert' for publication in the said newspa r. /� Sworn to and subscribed before me this 20 d of FEBRUAR A.D. 2013 (SEAL) O.V. FERBEYRE personally known to me B. THOMAS Commission # DD 93 0313 Expires November 23157Ut9 sonded Thru Troy F*nlnwv- � 3 i CITY OF AVENTURA NOTICE OF PUBLIC HEARING Date and Time of Public Hearing: Tuesday, March 5, 2013 6:00 p.m. Applicant Name /Number: Public Storage 01-CU-13&02-VAR-13 Applicant Request: Conditional Use approval pursuant Section 31- 144(f)(2)j. of the City's Land Development Regulations to permit a self - service storage facility in the MO (Medical Office) District; and Variance from Section 31- 144(f)(4)d.3. of the City's Land Development Regulations to permit 29.7% open space, where a minimum of 33% open space is required by Code; and Variance from Section 31- 144(f)(4)c. of the City's Land Development Regulations to permit a 20 foot wide rear yard setback, where a minimum 25 foot wide rear yard setback is required by Code Location of Subject Property: Public Storage facility 21288 Biscayne Boulevard, City of Aventura Legal Description: a portion of the SW 1/4 of the NE 1/4 of the NW 1/4 and SE 1/4 of the NE 1/4 of the NW 1/4 of Section 34, Township 51 South, Range 42 East, Dade County, Florida and part of Lots 3 and 4, Block 3 of Hallandale, according to the plat thereof recorded in Plat Book "B ", at Page 13 of the Public Records of Dade County, Florida, City of Aventura (complete legal description is on file and available at the Community Development Department, City of Aventura Government Center at the address below) Plans are on file and may be examined during regular business hours at the City of Aventura Government Center, Community Development Department, 19200 West Country Club Drive, Aventura, Florida, 33180. Plans may be modified at or before the Public Hearing. The application may change during the hearing process. The Public Hearing will be held in the City Commission Chamber at City of Aventura Government Center at the address above. Your comments may be made in person at the hearing or filed in writing prior to the hearing date. Refer to applicant/property on correspondence and mail same to City of Aventura Government Center, Community Development Department at the address above. For further information, please call (305) 466 -8940. In accordance with the Americans with Disabilities Act of 1990, all persons who are disabled and who need special accommodations to participate in this proceeding because of that disability should contact the Office of the City Clerk, (305) 466 -8901, not later than two business days prior to such proceedings. If a person decides to appeal any decision made by the City Commission with respect to any matter considered at a meeting or hearing, that person will need a record of the proceedings and, for such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be based. Teresa M. Soroka, MMC, City Clerk 2120 13- 3- 242/2035707M