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Home My Public Portal AboutExhibit F.tifVillage of Key Biscayne 85 W McIntyre Street Key Biscayne, Florida 33149 (305) 365-5511. Fax 365-5556 Mayor Rafael Conte Vice Mayor Ray Sullivan Trustees Clifford Brody Mortimer Fried Mike Hill Joe I Rasco Betty Sime March 26, 1992 TO MAYOR AND BOARD OF TRUSTEES FM CLIFF BRODY RE FIRE STATION As we move toward a decision there has been much discussion about the need for a fire station if we do not continue with Dade County Without doubt a fire station will be required if we withdraw from the Fire District Generally, there are two alternatives to a fire station We could arrange with Dade County to use the existing station or we could provide one ourselves If we must provide one ourselves, that has often been stated as a reason we must remain in the Fire District There is, in my opinion, a good possibility Dade County will make an arrangement for the existing station Such a decision is one to be made by the County Manager's office and the County Commission, not the Fire Department Mr Delappa, the Assistant County Manager with responsibility for fire, has told me face to face the County would make an arrangement with the Village Of course, this is not the final word That would be made by the County Commission, and they might be at considerable pressure not to abandon the fire station The purpose of this presentation and that of Mr Jaffe's is to dispel the misconception if Dade County does not give us the station we have no other alternative The alternatives presented here are not necessarily the best ones They could, however, be carried out in the time frames required and at a cost that does not materially change the cost picture of any of the alternatives I believe these alternatives presented here can comfortably be viewed as "not to exceed" alternatives The City of Ft Myers fire station in currently under construction on a contract with a 31 month time table Construction is nearly complete and at present the contractor is slightly ahead of schedule The station accommodates an on -duty staff of eleven There is room for two rescue units, one pumper, one aerial ladder, and the chief's vehicle All well within the requirements of our Village Village of Key Biscayne i 85 W McIntyre Street Key Biscayne, Florida 33149 (305) 365-5511 • Fax 365-5556 Mayor Rafael Conte Vice Mayor Ray Sullivan Trustees Clifford Brody Mortimer Fried Mike Hill Joe I Rasco Betty Sime VILLAGE OF KEY BISCAYNE FIRE STATION COST ANALYSIS DESCRIPTION OPTION 1 OPTION 2 Property at 1 Crandon Blvd $1,500,000 (old Texaco site) Property at 325 Fernwood Road $1,300,000 (condo complex behind Galeria) Fire station as built 311,000 311,000 Additional for South Florida 35,000 35,000 Building Code per Architect TOTAL $1,845,000 $1,645,000 KEY BISCAYNE HOMES, INC REAL ESTATE BROKERS 345 CYPRESS DRIVE KEY BISCAYNE FLORIDA 33149 TEL 305 361 1006 March 16, 1992 Clifford Brody, Trustee Village of Key Biscayne 85 W McIntyre Street Key Biscayne, Florida 33149 Subject The property legally described as "The North 150 00 feet of the West 200 00 feet of Tract 2 of Matheson Estates as recorded in Plat Book 46 at Page 86 of the public records of Dade County Florida" Street Address No 1 Crandon Blvd , Key Biscayne, Florida Dear Mr Brody, As per your request and authorized by the owner, I hereby inform you that the subject property is presently for sale Purchase Price Terms Land Area Zoning $1,500,000 All cash at closing Approximately 30,000 sq ft BU lA Attached is a copy of a "Boundary and Topographic Survey" of this site prepared by "Biscayne Engineering Company Inc ", dated 4/12/91 Please contact me if you require additional information or if the Village of Key Biscayne wishes to present a contract for purchase Yours truly, Ck'' ----r-) 0-Oir,--k__ e_--_ Karen Llorente Vice President Licensed Real Estate Broker cc R Hardy Matheson Note This offer is subject to withdrawal by the owner ti 1,300,000 00 MLS# M0505249 DATE: 12/19/91 PRICE SIZE: 15 1 Bedroom 1, Bath ABT; APPROX. SQ. FT.: 474 EACH UNIT. ,I LOCATION/BUILDING: 325 FERNWOOD CONDOMINIUM COMPLEX KEY BISCAYNE, FL 33149 LEGAL DESCRIPTION: SEE ATTACHED EXPOSURE: EAST/WEST FINANCING: NONE FOLIO NUMBER: 7f #30-4232-017-0010/0020/0030/0040/0050/0060/0070/ 0080/0090/0100/0110/0120/0130/0140/0150 TAXES (-W/— OR W/O HOMESTEAD) : $15,982 08 TAX YEAR: 1991 PARKING SPACE(S): FIFTEEN ASSIGNED & TWO GUEST MAINTENANCE FEE: $85.00 PER MOS. PER UNIT DESCRIPTION/REMARKS: FIFTEEN UNIT CONDOMINIUM ZONED AT BU -1. ALL UNITS PRESENTLY OCCUPIED"AS RENTAL APTS. LOCATED NEAR SHOPPING, SCHOOL AND TRANSPORTATION. LARGE POOL. PATIO & COURTYARD AREA. COULD B.E EXPANDED TO TWO FLOORS. SHOWING INSTRUCTIONS: CALL LISTING AGENT MARGARET R.CARTER FOR /1 4 AN APPOINTMENT (305)-361-1720 or (305)361-1661 COMPANY: FORTUNE INT'L/IRIONDO—ECKER & ASSOC. 328 CRANDON BOULEVARD K, III SUITE 105 KEY BISCAYNE, FL 33149 (305) 361-1720 LISTING AGENT• MARGARE1 R CARTER Broter Associate NO REPRESENTATIONS OR WARRANTIES EITHER EXPRESSED OR IMPLIED ARE MADE MADE TO THE ACCURACT THEREOF; PROPERTY IS SUBJECT TO SALE AND/OR WITHDRAWAL WITHOUT NOTICE. Key Biscayne Galeria 328 Crandon Boulevard Suite 105 Key Biscayne FL 33149 / Tel (305) 361 1720 / Fax (305) 361 8764 David Schilling Architect 2161 mcgregor blvd suite a fort myers florida 33901 813-332-4774 , March 17, 1992 Clifford Brody 104 Crandon Blvd., Suite 421 Key Biscayne, Florida 33149 Dear Mr. Brody In a search of our files, we found the presentation drawings for the preliminary stage of our design for Fire Station No. 4. A few changes were made subsequent to these drawings, primarily in the elevations, but both the site plan and the floor plan have remained virtually intact. Construction is progressing rapidly. By the end of this week, the building should be closed to the weather. At that point I will send you some photos to give you a better picture of the quality level we will be achieving at $34 per square foot. Thank you for your interest in our work. I hope we will have been of some assistance to the Board in making their decision. Please contact us if you have further questions Sincerely, ' (Lai t—_—) David Schilling SECTION n r NORTH ELEVATION n r o EAST ELEVATION o, •c Nt 0 Z Z O anw oro wc ro a mestere 1 5 sheet no 3 1 NV 1d EIOO-1d z O plan north 1 4 1 rs Y tl V pp b T e David Schilling Architect a FIRE STATION N° 4 i 2 "`pwppOw '"`•' "O"1O WO / u I\ ii) -t Qty d Fort Myers F Department Benchmark Corpnr t Park orbs.. •••• v....l .. .: r MAR 25 'e th UH`I LKHIyt I IlHI Il LAURENCE J JAFFE, PA. EXHIBIT F Commensal Real Estate / Finance 2701 LeJeune Road, Suite 4' Coral Gables, Flores 3310- (305) 442-1384 FAX (305) 443 7875 FUNMMNG A 7SRE/MISCUE S'"u3''ION FOR TUE VILLAGE OF KEY 3IS'CAXNE Presented By Laurence J. Jaffe, R.A. Licensed Real Estate Broker 1 Inf[-GJ-177G 1O 1CJ maul I JO1 tmm o Gs JOI YJJIU IJU ) 1U MAR 25 '92 15 54 SUSAN CRANE MIAMI JOJDJJO r ✓JJ 1111. LAURENCE J JAFFE, PA. CONTENT$ 1, Background 11. Objective 111. Procedure TV. Timing - Documents soma= q Es A. ,annual Cost - ,and & Fire/Rescue Station B. Annual Cost - Equipment C. Estsmate of Savings if Dade County"s Contract Ss Cancelled MAR 25 '92 15 54 SUSAN CRANE MIAMI LAURENCE J JAFFE, P A. FUNDING A F?RE/REscUE STATION FOR THI ;7ILLAGA Off" , MACAWS l'. 8ackgrbund: The village of Key Biscayne is considering two alternatives to its ourrent contract with Dade County to provide Fire/Rescue service on Key Biscayne: 1. Switch to a lower cost contract with the city of Miami or The Wackenhut Corporation. 2. Establish a Rey Biscayne Fire/Rescue Service. Both alternatives require a new fire/rescue station be built on Key Biscayne. This will be accomplished by acquiring land and constructing a fire/rescue station on that land. Preliminary estimates indicate this acquisition and construction activity will cost $1,800,000. Laurence J. Jaffe, F.A., is a licensed real estate broker in the state of Florida. We work with a finance and investment company that specializes Yn providing off balance sheet financing to states, counties, cities,, tax districts and other qualified municipalities, i.e., With a legislative taxing base, for properties they currently own or for properties they wish to acquire or construct. The principals of this investment company have completed transactions of this type in Illinois, California, West Virginia and Utah. The State of Florida has three contracts pending which are now being reviewed by the Florida Legislature. I !HK-c�-17bG lb 11 f KU! I Jb 1 corn MAR 25 '92 15 54 SUSAN LRHNt 11 J. HI 11 JO1 UJIYJ IJYJJJ 1 J LAURENCE J JAFFE, PA r XI, Objective: 1'I• Procedure: To raise $1,800,000 for The Village of Key Biscayne at an annual cost low enough to make it feasible to implement Fire/Rescue service on Key Biscayne provided by the City of Miami, The Wackenhut Corporation or a Key Biscayne Fire/Rescue Soz'vace . The Village of Key Biscayne will contract to purchase a parcel of land with the requisite Zoning 622d size requirements. The Village e will also enter into an installment or lease purchase contract with Positron Finance �C Investment Company who will be providing the funding. The structure of this contract will conform with the tax exempt provisions of the Internal Revenue Code, the Statutes of the State of Florida and Ordinances of the Village. Positron will fund $2,800,000 to the village of Key Biscayne at the closing to the Village's land acquisition with the proviso that construction be completed on that land within 18 months. The Village will have the funds to start construction anytime after the land 3s acquired. The terms of Positron's contract will be as follows: 1. Contract tern -- 20 years. z. inclusion of a non -appropriation clause which in effect makes this agreement a one year contract if funds are not appropriated In any given year. Each year the contract renews automatically unless non -appropriation occurs. 3. A release from all obligations related to the funding on the part of the Village of Key Biscayne at the end of the 20 -year term. 4. The Vil l age of Key Biscayne will be responsible for 411 operating costs of the Ftre/Rescue Service. 5. Annual cost - $192,540 (see Schedule A) . 6. Annual cost of leass.ug equ.zpment over 5 years - $208,284 optional (see Schedule B) 7 MAR 25 '92 15 55 SUSS -w U<F Nt 1 I IHI 11 LAURENCE J JAFFE, PA. • The Village of Key Biscayne retains title to the property unless zt cancers the agreement because of not3-appropriation. Positron wI11 commence the process by directing zts counsel to prepare the documents 2zsted on the next page as soon as It receives notice from the village that the contemplated transaction has been approved by the Village Board. I IHr -4J-1774 10 14 rr ul 1 J01 U040 Cx JO1 UJ1U IJCJJJ 1 IHfC GJ C. v4 ♦ 1.- A. L iu LAURENCE J JAFFE, PA. IV. Timing: Preparation of documents by Positron will be accomplished within two weeks. Funding of $1,800,000 will occur. within 30 - days after the following documents are executed and approved: nts preppratjan Execution appxQval .installment or Lease/Purchase Contract P P & V VA Trust Agreement Between Positron & a Florida Corporate Trustee for Aistribution of Funds at Closing & Receipt of Monthly Payments from the Village for Dzstrrbution P P VA Tax opiniOn PBC VA Village Attorney's Op2nlon Cert.zfysng Legality & Enforceability of Transaction VA VA PBC Two IRS Formos to Establish Tax Exempt Status P P VA P - Positron PBC - Positron Bond Counsel V .0 Village of Key Biscayne VA -0 Vfliage Attorney 7-C2 1IHK—e —177c lb 1G t-KUI1 Jb1 e_JOGO 45c JO1 YJJiYJ IJYJJJ 11J MAR 25 '92 15 55 SUSAN CRANE MIAMI LAURENCE J JAFFE, PA, 1 scWNLL' A ANNUAL COST ,,AND & tIRAIREscuE gTATIDN Initial Funding: Property Cost $1,800,000 Issuance Costs Total Funded $2,030,000 Annual Cost: Annual Cost at 7 1/4%* Payable Over 20 Years $192,540 Paid Monthly $16,045 Al tet'native Cost: If Non -Appropriation Clause Is Not Required Annual Cost at 7'%* Payable Over 20 Years $189,012 Paid Monthly $15,751 Annual Savings $3,528 * wed on market quotations during the week of March 23, 1992. The interest rate will be fixed at closing and subject to underwriting approval. rt 1s possible that the interest rate for thf.s transaction without the Ton-Approprra'tion Clause may be 6 3/4%. MHK- -1 J7e l b 1-3 r rcui i J01 CJOco MAR 25 '92 15 56 SUSAN CRANE M I R% Ck JOl JJ1V LAURENCE J. JAFFE, PA t ANNUAL COST JPNZ 1 Equipment & Cost*: l Squirt Equipped $335,000 1 Pumper Equipped 260,000 Rescue Vehicle #1 115,000 Rescue Vehicle #2 115,000 Spare Volunteer vehi cl a 21,000 Total $850,000 The Village will purchase the above liSted procedure: equipment. Publics Funding Corporation will provide the funds for this acquisition. The Village can retain title to this equipment. However, it w2.12 not have a non -appropriation cancellation privilege in regard to this Rending. The annual cost detailed below is based on a five year repayment plan. However. the term established for repayment may be clanged limited only by the depreciation life of the equipment. Annual Cost of Funding: Annual Cost at 8 1/4% $20�, 284 Payable Over 5 Years $17,357, Paid Monthly Notes: 1. The annual cost will change if the equipment costs change or the time period changes. 2. The Village may obtain equipment funding from anther source affecting the quotation for funding the land acqu25itzan and late/rescue station construction. * fetal./ provided by the Village of Key Biscayne. 1 IMM-GJ-1774 10 1J rmui 1 JOl C1000J .L J MAR 25 '92 15 56 SUSAN CRANE MIAMI 01110 LAURENCE J. JAFFE, PA. clMau c ESTIMATE OF SAVINGS IF 'NTY' S CONTRACT XS C, SWJ. tCh .To Ct ty Of Miami Lease purchase Contract TOTAL Cx ty Of Miami Lease Purchase Contract TOTAL Wackenhut Lease Purchase Contract TOTAL Key Biscayne Fire/Rescue**** Eguzpment Lease Lease Purchase Contract TOTAL Dade County __, COst Cost $3,100,370* Annual SaXing 292,540 $3,292,910 $3,859,630 $ 566,720 $2,700,070** 19;„540 $2,892,620 $4,149,100*** $1,256,490 $2,593,930 151,540 $2,786,470 $3,8$9,630 $1,073,160 $1,830,000 208,280 192$.44 $2,230,820 $3,859,630 $3,628,810 * First year cost quotation on five year contract ** Second through f.fth year cost quotation *** Second year estimate **** Budget estimate without equipment cost TOTAL P 10