Loading...
HomeMy WebLinkAbout2026-021-2478_-_RUDG-The_Commons_LLC_Assignment_of_Rights_and_Obligations_-_Adopted.docxRESOLUTION NO. 2026-021-2478 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS, FLORIDA, AUTHORIZING RUDG-THE COMMONS RETAIL, LLC, SUCCESSOR IN INTEREST TO RUDG-THE COMMONS, LLC, TO ASSIGN ALL OF ITS RIGHTS AND OBLIGATIONS TO THE CITY OF MIAMI GARDENS WITH RESPECT THAT CERTAIN AMENDED RESTATEMENT AND AMENDMENT OF NON-RESTRICTED MORTGAGE AND COVENANT AND THAT CERTAIN AMENDED DEVELOPMENT AGREEMENT, AS AMENDED, ATTACHED HERETO AS EXHIBIT “A” AND “B” TO BUNCHE PARK YOUTH SPORTS, INC; PROVIDING FOR INSTRUCTIONS TO THE CITY MANAGER AND CITY ATTORNEY; PROVIDING FOR THE ADOPTION OF REPRESENTATIONS; PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, RUDG-The Commons, LLC (“RUDG”), acquired approximately 6.83 acres of vacant land on the SW Corner of NW 207 Street and NW 27 Avenue in the City of Miami Gardens, Florida, via One Million One Hundred and Fifty Thousand Dollars ($1,150,000.00) in Neighborhood Stabilization Program 3 (NSP3) funds administered by the City of Miami Gardens, and WHEREAS, the funds were secured by an Amended Mortgage Deed and Restrictive Covenant-recorded on September 18, 2013, that required RUDG to develop the property for the benefit of the City, and WHEREAS, on June 11, 2015, the City and RUDG agreed to a Bifurcated Amended Mortgage Deed and Restrictive Covenant document which created a "housing" portion and "commercial" portion of the RUDG property, whereby the "housing" portion of the parcel became liable for Two Hundred Seventy-Nine Thousand Four Hundred Fifty Dollars ($279,450.00) and the "commercial" portion liable for Eight Hundred Seventy Thousand Five Hundred Fifty Dollars ($870,550.00) of the overall One Million One Hundred and Fifty Thousand Dollars ($1,150,000.00), respectively, and WHEREAS, on June 11, 2015, the parties entered a Second Amendment to the Mortgage Deed and Restrictive Covenant as to the commercial part of the property and subsequently, on June 11, 2015, the parties entered a Third Amendment to the Mortgage Deed and Restrictive Covenant as to the housing portion, and WHEREAS, on October 2, 2019, the parties entered into the Restatement and Amendment of Non-Restricted Mortgage and Covenant, whereby Eight Hundred Seventy Thousand Five Hundred Fifty Dollars ($870,550.00) of the overall One Million One Hundred and Fifty Thousand Dollars ($1, 150,000.00) was further split into two (2) separate portions: Four Hundred Fifty Thousand Dollars (450,000.00) to the Trice Parcel and Four Hundred Twenty Thousand Five Hundred Fifty Dollars (420,550.00) for the RUDG parcel and which also required RUDG to develop and maintain the property for a commercial project, and Docusign Envelope ID: 1EC504C5-7831-47F6-98D3-200530ABC433 WHEREAS, in accordance with the NSP3 build schedule, the overall construction of the housing parcel should have been completed in January 2015 and reached 50% occupancy in March 2015; additionally, the overall construction of the commercial parcel should have been completed in March 2015, however, via Resolution No. 2017-127-3232 which references the Amendment to the Amended Developer’s Agreement for “The Commons”; An NSP3 Housing Project and a Commercial Project, the City and RUDG agreed to ultimately extend the completion date for the commercial parcel to July 2021, and WHEREAS, RUDG has not developed the property in accordance with the NSP3 Amended Developer Agreement, as amended, so the City Council authorized the City Attorney to file foreclosure litigation against RUDG related to the commercial parcel, and WHEREAS, Vice Mayor Stephens is recommending a settlement of the litigation whereby RUDG would assign its rights and obligations under the Developer Agreement as amended and the Mortgage Deed and Restrictive Covenant as amended, to Bunche Park Youth Sports, Inc., a Florida Not For Profit Corporation (“Assignee”), and WHEREAS, in accordance with the Amended Developer’s Agreement the obligations undertaken by RUDG pursuant to the Agreement can only be delegated or assigned if the City consents to the performance or assignment of such service, and WHEREAS, Bunche Park Youth Sports, Inc., has consented to the assignment and to undertake all the obligations undertaken by RUDG pursuant to the Agreement, and WHEREAS, the deadlines in the Amended Developer’s Agreement have all expired, so to move forward the Assignee will be required to seek an extension of the deadlines in the Agreement, and WHEREAS, Vice Mayor Stephens is further requesting that the City Council direct the City Attorney to dismiss the current lawsuit against RUDG, NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS, FLORIDA AS FOLLOWS: Section 1: ADOPTION OF REPRESENTATIONS: The foregoing Whereas paragraphs are hereby ratified and confirmed as being true, and the same are hereby made a specific part of this Resolution. Section 2: AUTHORIZATION: The City Council of the City of Miami Gardens hereby authorizes RUDG-The Commons Retail, LLC, successor in interest to RUDG-The Commons, LLC, to assign all of its rights and obligations to the City of Miami Gardens with respect to that certain Amended Restatement and Amendment of Non-Restricted Docusign Envelope ID: 1EC504C5-7831-47F6-98D3-200530ABC433 Mortgage and Covenant and that certain Amended Development Agreement, as amended, attached hereto as Exhibit "A" and "B" to Bunche Park Youth Sports, Inc. Section 3: DIRECTIONS INSTRUCTIONS TO THE MANAGER AND CITY ATTORNEY: The City Manager is hereby directed to execute all documents necessary to assign the rights and obligations of RUDG the Commons, LLC to Bunche Park Youth Sports, Inc., and the City Attorney is hereby directed to dismiss the lawsuit filed against RUDG. Section 4: EFFECTIVE DATE: This Resolution shall take effect immediately upon its final passage. PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF MIAMI GARDENS AT ITS REGULAR MEETING HELD ON FEBRUARY 25, 2026. ________________________________ RODNEY HARRIS, MAYOR ATTEST: ________________________________ MARIO BATAILLE, MMC, CITY CLERK PREPARED BY: SONJA KNIGHTON DICKENS, CITY ATTORNEY SPONSORED BY: VICE MAYOR ROBERT STEPHENS, III Moved by: Councilwoman Julien Seconded by: Councilwoman Wilson VOTE: 6-0 Mayor Harris Absent Vice Mayor Stephens, III Yes Councilwoman Baskin Yes Councilman Leon Yes Councilwoman Powell Yes Councilwoman Wilson Yes Councilwoman Julien Yes Docusign Envelope ID: 1EC504C5-7831-47F6-98D3-200530ABC433