07-21
RESOLUTION NO. 07-21
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA, APPROVING FIRST AMENDMENT TO
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF
CLEARWATER AND TRIANGLE OLD BAY HOLDINGS,
LLC; PROVIDING AN EFFECTIVE DATE.
WHEREAS, a Development Agreement between the City of Clearwater
and Triangle Old Bay Holdings, LLC, was executed on February 21, 2007, and
approved by Resolution 07-02; and
WHEREAS, the City of Clearwater wishes to amend said Development
Agreement; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The First Amendment to Development Agreement between the City
of Clearwater and Triangle Old Bay Holdings, LLC, a copy of which is attached as
Exhibit "An, is hereby approved.
Section 2. The City Clerk is directed to record the First Amendment to
Development Agreement with the Clerk of the Circuit Court in Pinellas County no later
than fourteen (14) days after the agreement is executed. The applicant for the First
Amendment to Development Agreement shall bear the expense of recording the
agreement.
Section 3. The City Clerk is directed to submit a recorded copy of the First
Amendment to Development Agreement to the State of Florida Department of
Community Affairs no later than fourteen (14) days after it is recorded.
Section 4. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 17th day of October
,2007.
~F~
'--frc(nk V. Hibbard
Mayor
Resolution No. 07-21
AMENDMENT TO DEVELOPMENT AGREEMENT
THIS AMENDMENT ("AMENDMENT") amends the DEVELOPMENT AGREEMENT
("AGREEMENT") dated February 21, 2007, effective as provided in Section 5 of the
AGREEMENT, and entered into between TRIANGLE OLD BAY HOLDINGS, LLC, a
Florida limited liability company ("DEVELOPER") and the CITY OF CLEARWATER,
FLORIDA, a political subdivision of the State of Florida acting through its City Council
("COUNCIL"), the governing body thereof ("CITY").
The following changes are made to the Development agreement:
(Amend Recital D:)
D. DEVELOPER desires to develop the Property as a mixed residential/retail
development, consisting of not more than 358 residential units and 13,235 square feet
of retail, with associated parking, generally conforming to that development approved by
the COB on September 18No'lember 21, 200Z9 in Case No. FLD200Z9-0702~.:.
(AMEND SECTION 5.1)
5.1 This ACREEAMENDMENT shall be6Gme effective as provided for by the ACT and
upon final approval of this aqreement by the Clearwater City Council.the v3c3tion of
Osceola /\ve. 3S described in Section 6.2.2.
(AMEND SECTION 6.1.3.1)
6.1.3.1 The PROPERTY shall be developed in conformance with that
development approved by the COB on September 18Novombor 21, 200Z9 in Case No.
FLD200Z9-07025~. The population density and maximum building intensity are
shown in that approved development application. Specifically, the Property shall be
developed in 3 phases. Phase 1 will commit the entire 5.18 acres, which at 50 units per
acre (and 4.98 countable acres) has 249 units permitted. 116 units (114 in Antilles
Tower + 2 Citvhomes) will be built in Phase 1, drawing 1 ~e units from the Public
Amenities Incentive Pool.:. (so 3S to be eligible for extra height). 109 units (108 in
Bahamas Tower + 1 Cityhome) will be built in Phase 2, drawing 1 unit from the Public
Amenities Incentive Pool (for extra height). Phase 3 will have a 1~+-story Caymans
Itower with 1 0~9 units, 3 Citvhomes plus Harrison Villaqe with 2~4 units & 13,235 sf of
retail space built on the east side of Osceola Ave, for a total in Phase 3 of 133 units,
drawing 9.Q.2- additional units and 13,235 square feet from the Public Amenities Incentive
Pool, for a total of 109 units and 13,235 square feet of non-residential floor area from
the Public Amenities Incentive Pool over the entire project.
In the event Developer sells combined units in any of the 3 towers. thereby
reducinq the unit count in the Towers. Developer shall not lose the entitlements to these
units. but will be able to use these units instead in Harrison Vi/laqe (subject to the
approval of FLD2007-07025). thereby retaininq the same total 358 units for the entire
project. However, in the event that upon the completion of Harrison Villaqe any of the
EXHIBIT "A"
358 units are not built. these units shall be returned to the Public Amenities Incentive
Pool.
(AMEND SECTION 6.1.3.2)
6.1.3.2 Building height to the highest point of the finished flat roof
surface of the 3 Island View condominium towers shall not exceed 180 feet above the
mean site elevation. Building height to the hiqhest point of the finished flat roof surface
top of par3pet of the two (2) buildings comprising Harrison Village shall not exceed 48
feet above the mean site elevation for the Harrison Village Site.
(AMEND SECTION 6.1.3.5)
6.1.3.5 The parties acknowledge that it is conceivable that the
Project will not proceed to full completion of all phases. Accordingly, DEVELOPER
agrees that the 2.0 acre parcel of land described in Exhibit "H" (the "Exhibit "H"
Property") hereto shall be dedicated to support the entitlements which comprise Phase
1, and shall remain encumbered by the provisions of this Development Agreement
notwithstanding the amendment of the site plan for the balance of the Property. The
deed restriction required by Paragraph 6.1.4 shall include said dedication and
encumbrance. In the event Phases 2 and 3 are not developed, the "Exhibit "H"
Property" shall be limited to the 116 units allowed in Phase 1, and the "Exhibit "H"
PropertvPrpperty" shall be encumbered by this restriction immediately upon the
issuance of a building permit for Phase 1. .
(AMEND SECTION 6.1.3.7)
6.1.3.7 No certificate of occupancy shall be issued for each phase
until the streetscaping for that phase has been substantially completed, as set forth in
Exhibits "E", "E_1 ", "E-2" and"E-3" attached hereto and incorporated herein. Specifically
this includes:
Phase 1 :
Landscaping and hardscaping of:
a) South third of the wWest side of Osceola Ave
b) East side of Fort Harrison Ave between Jones StreetstJ:eet and
Georgia StreetstJ:eet.
Phase 2:
Landscaping and hardscaping of:
a) North side of Georgia Street
b) Intersection of Jones St and Ft Harrison Ave
c) Center third of the west side of Osceola Ave
Phase 3:
Landscaping and hardscaping of:
a) West side of F1. Harrison Ave. between Georgia and Jones
b) East side of Osceola Ave, south side of Georgia S1. and north
side of Jones Street, and Osceola crosswalks and mid block
pedestrian plaza in Harrison Village; all as shown on Exhibit "0".
c) North third of the west side of Osceola Ave
2
G}d) Base of Georgia Street upgraded with landscaping and
hardscaping.
Gte) Intersection of Georgia St. and Ft Harrison Ave
The parties agree that the obligation of DEVELOPER to construct the phase
improvements described above is contingent upon Developer proceeding to
construct each respective phase of the Project.
(Add Section 6.1.6)
6.1.6 Durinq construction of Phase 1 the first (southern) third of the
parkinq structure will be built. The center third of the parkinq structure will be built in
Phase 2. and the last (northern) third of the parkinq structure will be built in Phase 3. In
each of Phases 1 and 2 the northern face of the parkinq structure will have a temporary
finish which remains until the next third of the parkinq structure is built. In each phase,
the part of the parkinq structure beinq built will contain enouqh parkinq spaces to meet
the parkinq requirements for that phase.
In the event that a construction hiatus (defined as beinq a time qap between the
date the Certificate of Occupancy is issued for the shell of the principal structure for
each Phase and the date construction commences on the subsequent Phase) of more
than 60 days occurs, DEVELOPER shall install and maintain landscapinq improvements
and limited temporary architectural facade improvements across the northern face of
the parkinq structure which obscures at least 75% of the view of vehicles and the
interior of the parkinq structure from street level.
In the event that the subsequent phase does not start on schedule as per Exhibit
liE", then DEVELOPER shall fullly finish the facade of the northern face of the parking
structure.
(AMEND SECTION 6.2.1)
6.2.1 CITY will issue such building permits for the Property as are consistent
with the Comprehensive Plan and that development approved by the
COB on September 18November 21, 200Z9 in Case No. FLD200Ze-
070255030 _and that meet the requirements of the CODE and that go
through any applicable approval process.
(DELETE SECTION 6.2.2)
6.2.2The CITY shall consider the "ac~tion of Osceola Avenue and the
vacation of three drainage and utility easements ~nd one
ingress/egress e~soment ~s described in the rebted v~c~tion request.
The effecti'Jeness of this Agreement is contingent on the requected
vac~tion .
3
(ADD SECT/ON 14)
SECT/ON 14. Exhibits B. C. D. 0-1. 0-2. 0-3. E. E-1. E-2. E-3 and H attached
replace the previous exhibits so numbered in the Development Aqreement.
(ADD SECTION 25)
SECTION 25. In the event the City Council approves a proposed amendment to
the existinq ordinance (Ordinance No. 769-07) vacatinq a portion of the existinQ
Osceola Ave between Jones Street and Georqia Street. Developer shall have the option
of temporarily finishinQ Osceola Ave to the standards specified in said ordinance
amendment prior to Phase 1. Once Developer has completed Osceola Ave to these
standards and has had the work accepted as complete by the City. City will release
Developer's Letter of Credit posted in compliance with the ordinance. This section
does in no way alter section 6.1.3.7, which specifies the landscapinq and hardscapinq
requirements for the completion of each phase.
(ADD SECTION 26)
SECTION 26. In accordance with the Clearwater Community Development Code
Article 3. Section 2405 ("PUBLIC ART ORDINANCE"), DEVELOPER and CITY agree that the
development encompassed by AGREEMENT is subiect to one overall Public Art
contribution of $200.000.
/t is furthermore aqreed that DEVELOPER will, prior to qettinq a Certificate of
Occupancy on Phase 1. either
a) Post a Letter of Credit to CITY. in a form acceptable to the City Attorney
and drawn on a Florida bank. for $200.000. which CITY can draw upon as
Public Art contribution if DEVELOPER fails to provide public art as per the
above section of the Community Development Code by the end of Phase
3. as defined in sections 6.1.3.4 and 11.2. and Exhibit "E" of AGREEMENT.
or by the end of phases 1 and/or 2 in the event the subsequent phase is
not started on time as defined in Sections 6.1.3.4 and 11.2, and Exhibit "E"
of AGREEMENT: or
b) Commission public art as per PUBLIC ART ORDINANCE procedure. to the
value of $200.000. with copy of the commission contract to the City. and
with said contract specifvinq that the contract is valid for public art to be
completed by the end of phase 3. as defined in sections 6.1.3.4 and 11.2.
and Exhibit "E" of the aqreement. or for public art for phases 1 and/or 2 in
the event the subsequent phase is not started on time as defined in
sections 6.1.3.4 and 11.2. and Exhibit "E" of the agreement.
[End of Substantive Provisions, Signature Page to follow.]
4
WITNESSES:
Countersigned:
Frank V. Hibbard
Mayor
TRIANGLE OLD SAY HOLDINGS, LLC,
a Florida limit"liability company.
By: \(~(/J~-
1 fZ. (J () L Lt\.-(A'(.......
Its: Managing Member
CITY OF CLEARWATER, FLORIDA
By:
William B. Horne "
Attest:
Cynthia E. Goudeau
City Clerk
5
STATE OF FLORIDA )
COUNTY OF PINELLAS )
The fore,gQin~. instrument was ackn.owledged before ~e this 1 5''-' C~l We:"
2007, by \2o('\~bLla..<:\lL , as managmg member of Trrangle OIQ.l3ay Holdings,
LLC, a Florida limited liability company, on behalf of the company, who ~. is personally
known to me or who D produced - as identificaf n.
~""y~ LYNDA CAVANAGH
~ MY COMMISSION # 00620014
'\;"",..dP EXPIRES: December 05. 2010
I.Hlm.NOTARY FI. Nocary Discount Assoc. Co.
\...o..,S Cl.Y"'\GL~ ~
Print Name:
STATE OF FLORIDA )
CITY OF PINELLAS )
The foregoing instrument was acknowledged before me this
, 2007, by Frank V. Hibbard, as Mayor of the City of Clearwater,
Florida, who D is personally known to me or who D produced
identification.
Notary Public
Print Name:
STATE OF FLORIDA )
CITY OF PINELLAS )
The foregoing instrument was acknowledged before me this
, 2007, by William B. Horne II, City Manager of the City of
Clearwater, Florida, who D is personally known to me or who D produced
identification.
Notary Public
Print Name:
6
Amended Exhibits:
"B": Concept Plan
"C": Renderings attached
"0" Phasinq Plan
"0-1" Phasing Plan - Phase 1
"0-2" Phasing Plan - Phase 2
"0-3" Phasing Plan - Phase 3
"E": Phasing Schedule
"E-1" Phase 1 Streetscaping
"E-2" Phase 2 Streetscaping
"E-3" Phase 3 Streetscaping
"H" Phase 1 Dedicated Land
09/25/07 10:06 AM
45403.108701
#378904 v1 - Triangle/Development Agreement
7
m : 1
Xl (l'
, J
:::r ' .1
L.-.i
r
_Ii l!>..
U >
_II
i i ~
n ---4
U
I
?i1
::J
Q.,
CD
-,
_Ii
-
,.j
<<0
~
~
H
~
~
:;,
~
-
~...,;
...
>-
...
k
--:
....
,-,
....
~
.....
'"'
'-'
'"'
'-'
...
",.
...
'7
~<
'"'
""
..;.;
A
'-'
z
^
"'"
-
~
-
...
.
~a:.t
,;;
J;
'J
m
~
~
~
to
~
~
tJ
=
i
!
i
.1
if
~
p-'
~
rJ).
~.
~
(Jq
~
~
~
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
I
-I:
I
I
I
I
I
I
I
I
I
I
~-------
HORn; FORT HARNSON
,"""'-
...IIIiiIiiiiIL
.1.___.._..__________....__.._________...___
d I cudaVld I. wallace & associates, p...
Cl4.2 dOlllJl.. ev.. dun.dln, 11 346ie
www.dlw.rO)hlt.otll.o.om
lIu"ohlt.ote p. 727.738.6000 t. 727.738.8343
rnmIrn
Exhibit E
PHASING SCHEDULE
Phase Commencement! Res. Units Retail Space Parking STREETSCAPE OTHER
Completion Dates Permitted + Permitted + Spaces (EST. COST: AND DESCRIPTION) (EST. COST* AND
Pool Pool DESCRIPTION]
Pre-Con- 7/07 0 0 0
struction I
1 12/31 /O~+- 10}G + 1}e 0 174 $600,000 - landscaping and hardscaping of: Osceola Ave
12/31/1QOO a) South third of the W'!:!.est side of Osceola Ave widened, moved and
b) East side of Fort Harrison Ave between Jones utilities upgraded at a
Street and Georgia Street. cost of about $1
See Exhibit E-1 mil/ion.
I 2 12/31/11G- 108 + 1 0 162 $600,000 - landscaping and hardscaping of:
12/31/1 }2 a) North side of Georgia Street
I b) Intersection of Jones St and Ft Harrison Ave
c) Center third of the west side of Osceola Ave
See Exhibit E-2
I 3 12/31/113- 384+ + 9~2 0+13,235 22404 $1,800,000 - landscaping and hardscaping of:
12/31/19.5 (Shared a) West side of Ft. Harrison Ave. between Georgia
parking and Jones
formula b) East side of Osceola Ave, south side of Georgia
applied) St. and north side of Jones Street, and Osceola
crosswalks and midblock pedestrian plaza in
I Harrison ViI/age; all as shown on Exhibit "0".
c) North third of the west side of Osceola Ave
~Base of Georgia Street upgraded with
I landscaping and hardscaping.
~Intersection of Georgia St. and Ft Harrison Ave
See
Exhibit E-3
I TOTAL 249 + 109 0+13,235 56054G $3,000,000 $1,000,000
*"Est. Cost" = Developer's estimate for the described work, which may in the end (when the work is finally put out for contract and completed) turn out to be more
or less than the estimate..
08/09/07 12: 12 PM
#378917 v1 - Triangle/Phasing Table
EXHIBIT H - 2.0 Acres
Dedicated to Phase 1
~
~~
a.
~
GEO~GIASTll:EET
.O'RIW
.-- ..
""_I 1./-)
"" I ,/
I I
+l, ~
I L
I ARRISON VILLAGl=
., BUILDING A I
I I
'1 ~
.:: [I
1....1 LI
J
L
J
IJ
I
11
1
[
[
I
L~
I
I
I
I
I
I
I
I I
it
I
I
I
I
~
i
I
I
I
I
I I
il
1 I
:~
I I
I
I
I
I
I
I
I
1
I
1
I
1
IIASTER SITE PlAN . ACREAGE
I
J
!
I
j
i ~
i
!
i
I
i
I
!
i
J
I
i
I
I
i
i
II
j
i
I
I
<
~
.
M
m
~
~
_m
"'0>
Cl>m
-.
.,~
"0;:
00"
"'~
'" .
<<J~
o<l"
Cl>~
o.
.,.
='0
."
~~
~
-=:
:28"
> ~
., 0
'C 2
U~
o
o
o
m
~
E
"
.
Me ;~~
~~
M_
~.-