TITLE
RESOLUTION APPROVING AND AUTHORIZING THE COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO: (1) EXECUTE, IN ACCORDANCE WITH SECTION 125.35, FLORIDA STATUTES, AND SUBJECT TO THE UNITED STATES DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT�S (HUD) APPROVAL, A 99-YEAR GROUND LEASE (LEASE), WHICH SUCH LEASE INCLUDES A LUMP SUM CAPITALIZED GROUND LEASE PAYMENT OF $1,725,000.00, WITH RUDG, LLC (RUDG) RELATED TO THE DEVELOPMENT OF GIBSON PLAZA DEVELOPMENT (DEVELOPMENT), (2) EXECUTE A MASTER DEVELOPMENT AGREEMENT (MDA) WITH RUDG IN THE TOTAL ESTIMATED AMOUNT OF $572,678,839.00, A PAYMENT OF 30 PERCENT OF THE DEVELOPER FEES ESTIMATED AT $6,598,566.00, AN ASSET MANAGEMENT FEE OF $25,000.00 ANNUALLY AFTER THE FIRST FULL YEAR OF STABILIZATION, ESTIMATED AT $2,225,000.00, A ONE-TIME STABILIZATION FEE OF $150,000.00, MONTHLY DAVIS BACON MONITORING FEES IN THE AMOUNT OF $3,000.00, ESTIMATED AT $108,000.00, AND 16 PERCENT OF THE NET PROCEEDS OF THE SALE OR REFINANCE OF THE SUBJECT PROPERTY, (3) EXERCISE ALL PROVISIONS CONTAINED IN THE LEASE AND MDA (4) SUBJECT TO HUD�S APPROVAL, EXECUTE ALL NECESSARY RENTAL ASSISTANCE DEMONSTRATION AND/OR MIXED-FINANCE AGREEMENTS AND ALL OTHER DOCUMENTS RELATED TO THE DEVELOPMENT; (5) SUBMIT A DEMOLITION AND/OR DISPOSITION APPLICATION TO HUD, IF REQUIRED; AND (6) EXECUTE AMENDMENTS TO ANNUAL CONTRIBUTIONS CONTRACTS, IF REQUIRED; AND WAIVING SECTION 2-10.4.2 OF THE CODE OF MIAMI-DADE COUNTY, FLORIDA

BODY
WHEREAS, this Board desires to accomplish the purposes outlined in the accompanying County Mayor�s memorandum, a copy of which is incorporated herein by reference,

NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:

Section 1. The foregoing recital and accompanying County Mayor�s memorandum are incorporated herein by reference.

Section 2. This Board authorizes the County Mayor or County Mayor�s designee to execute the Master Development Agreement (MDA) between the County and RUDG, LLC (RUDG), in substantially the form attached hereto as Attachment �A� and incorporated herein by reference, which such MDA includes the financial participation of the County in the redevelopment of the Development with a total estimated amount of $572,678,839.00, inclusive of an annual share of 16 percent of all net distributable operating receipts characterized as annual net cash flow, until the end of the lease term, estimated at $561,872,273.00; and as established under the MDA, a payment of 30 percent of the developer fees estimated at $6,598,566.00, monthly Davis Bacon monitoring fees estimated at $108,000.00 ($3,000.00 per month during construction period), 16 percent of the net proceeds of the sale or refinance of the subject property; an asset management fee of $25,000.00 annually after the first full year of stabilization, estimated at $2,225,000.00; and a one-time stabilization fee of $150,000.00 . This Board further authorizes the County Mayor or County Mayor�s designee to exercise all provisions contained in the MDA, including, but not limited to: (a) termination of short term lease and technical and non-substantive amendment provisions; (b) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees to be submitted to County; (c) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (d) executing any and all documents on behalf of the County necessary or convenient to the foregoing approvals, consents, and appointments; (e) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and refurbishments of the property; (f) executing joinders and consents to easement and access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (g) amending the MDA to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the MDA.

Section 3. In accordance with section 125.35, Florida Statutes, and subject to the United State Department of Housing and Urban Development�s (HUD) approval, this Board approves and authorizes the County Mayor or County Mayor�s designee to execute the 99-year ground lease (�lease�) with RUDG, LLC (RUDG), which such lease includes a lump sum capitalized ground lease payment of $1,725,000.00, an annual share of 16 percent of all net distributable operating receipts characterized as net cash flow, until the end of the lease term estimated at $561,872,273.00; an asset management fee of $25,000.00 annually after the first full year of stabilization, estimated at $2,225,000.00; and a one-time stabilization fee of $150,000.00; in substantially the form attached hereto as Attachment �B� and incorporated herein by reference, for the redevelopment of Gibson Plaza development. This Board further authorizes the County Mayor or County Mayor�s designee to exercise all provisions contained in the lease, including, but not limited to, (a) termination and technical and non-substantive amendment provisions; (b) exercising right of first refusal option; (c) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees, to be submitted to County; (d) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (e) executing any and all documents on behalf of County necessary or convenient to the foregoing approvals, consents, and appointments; (f) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and redevelopment of the project site; (g) executing joinders and consents to access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (h) amending the lease to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the lease.

Section 4. Subject to HUD�s approval, this Board authorizes the County Mayor or County Mayor�s designee to execute any and all necessary Rental Assistance Demonstration and/or mixed-finance and related agreements and any and all other documents related to necessary for the development, management, and operation of the project sites.

Section 5. This Board authorizes the County Mayor or County Mayor�s designee to submit a demolition and/or disposition application to HUD, if required, for the project sites for the purpose of demolishing and disposing of the existing building located on the project sites.

Section 6. This Board authorizes the County Mayor or County Mayor�s designee to execute amendments to annual contributions contracts, if required; to execute and agreement, release from declarations of trust, and any other documents on behalf of the County, subject HUD�s approval, and to exercise amendments, modification, cancellation, and termination clauses.

Section 7. As set forth in the accompanying County Mayor�s memorandum, this Board waives the provisions of section 2-10.4.2 of the Code of Miami-Dade County, Florida requiring two MAI appraisals for County property if its estimated fair market value is over $5,000,000.00.

Section 8. This Board directs the County Mayor or County Mayor�s designee to provide a copy of the lease or similar instrument to the Property Appraiser�s Office.

Section 9. This Board directs the County Mayor or County Mayor�s designee, pursuant to Resolution No. R-974-09, to record in the public record the lease or similar instrument, if required, covenants, reverters and mortgages creating or reserving a real property interest in favor of the County, and to provide a copy of such recorded instruments to the Clerk of the Board within 30 days of execution and final acceptance. This Board further directs the Clerk of the Board, pursuant to Resolution No. R-974-09, to attach and permanently store a recorded copy of any instrument provided in accordance herewith together with this resolution.

HEADER
Date:

To: Honorable Chairman Anthony Rodriguez
and Members, Board of County Commissioners

From: Daniella Levine Cava
Mayor

Subject: Recommendation for Approval of the Execution
of the Master Development Agreement with RUDG,
LLC, and a 99-Year Ground Lease with RUDG, LLC,
Pursuant to Request for Proposal (RFP) No.
2023-01-GPWG, Gibson Plaza/West Grove Redevelopment

STAFF RECOMMENDATION
Executive Summary
On April 12, 2023, the County advertised Request for Proposal (RFP) � No. 2023-01-GPWG � Gibson
Plaza/West Grove Redevelopment seeking proposals from prospective developers who have the capability, expertise, capacity, and resources to obtain financing to successfully redevelop Gibson Plaza and West Grove housing sites with affordable, workforce housing, and market rate units and to convert the existing units. The existing sites are not public housing sites, but instead are subject to a Housing Assistance Payment (HAP) contract with the United States Department of Housing and Urban Development (HUD). The existing sites will be redeveloped by transferring the existing HAP contract to the new development and will incorporate additional new deeply affordable units subsidized by the HUD Faircloth-to-RAD program. The Competitive Selection Committee (Committee) recommended that the County negotiate with the two highest ranking proposers, i.e., RUDG, LLC (RUDG) for Group 1 (Gibson Plaza), and Integral Florida, LLC (Integral) for Group 2 (West Grove). On September 17, 2024, the Board of County Commissioners (�Board�) adopted Resolution No. R-829-24, authorizing the County Mayor or the County Mayor�s designee to initiate negotiations for RFP � No. 2023-01-GPWG � Gibson Plaza/West Grove Redevelopment with the highest ranked proposers, i.e., RUDG (Group 1), and Integral (Group 2) for the redevelopment of the Gibson Plaza and West Grove housing developments, respectively. Pursuant to that resolution, the County administration disclosed to the Board that it would return for further approvals of the permanent ground lease and master development agreement. Therefore, this item seeks the Board�s approval to authorize the County Mayor or County Mayor�s designee, subject to the United States Department of Housing and Urban Development (HUD) approval, to execute a 99-Year Ground Lease Agreement (�lease�) and other related agreements with Related RUDG, that evidence and preserve site control as required by HUD and the Florida Housing Finance Corporation (FHFC) for the redevelopment of Gibson Plaza. Gibson Plaza is anticipated, over the course of the 99-years, to generate approximately $572,678,839 in revenue for the County inclusive of capitalized ground lease payments, developer fees, and percentage share of annual net cash flow. Additionally, this item seeks the Board�s approval to authorize the County Mayor or County Mayor�s designee to execute the Master Development Agreement (�MDA�) with RUDG, and any agreements or documents as may be required by HUD and FHFC, including the Option to Ground Lease(s).

Recommendation
It is recommended that the Board:

1. In accordance with section 125.35, Florida Statutes, and subject to HUD�s approval, approve and authorize the County Mayor or County Mayor�s designee to: (1) execute the lease with RUDG to include a lump sum capitalized ground lease payment of $1,725,000.00; an annual share of 16 percent of all net distributable operating receipts characterized as net cash flow, until the end of the lease term estimated at $561,872,273.00; an Asset Management Fee of $25,000.00 annually after the first full year of Stabilization, estimated at $2,225,000.00; and a one-time Stabilization Fee of $150,000.00; and (2) exercise all provisions contained therein, including, but not limited to, (a) termination and technical and non-substantive amendment provisions; (b) exercising right of first refusal option; (c) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees, to be submitted to County; (d) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (e) execute any and all documents on behalf of County necessary or convenient to the foregoing approvals, consents, and appointments; (f) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and redevelopment of the project site; (g) executing joinders and consents to access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (h) amending the lease to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the lease;

2. Authorize the County Mayor or County Mayor�s designee to execute the MDA with RUDG and to exercise all provisions contained in the MDA, including, but not limited to: (a) termination of short term lease and technical and non-substantive amendment provisions; (b) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees to be submitted to County; (c) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (d) executing any and all documents on behalf of the County necessary or convenient to the foregoing approvals, consents, and appointments; (e) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and refurbishments of the property; (f) executing joinders and consents to easement and access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (g) amending the MDA to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the MDA;

3. Subject to HUD�s approval, authorize the County Mayor or County Mayor�s designee to execute any and all necessary Rental Assistance Demonstration program (RAD) and/or mixed-finance and related agreements and any and all other documents related to necessary for the development, management, and operation of the project sites;

4. Authorize the County Mayor or County Mayor�s designee to submit a demolition and/or disposition application to HUD, if required, for the project for the purpose of demolishing and disposing of the existing building located on the project sites;

5. Authorize the County Mayor or County Mayor�s designee to execute amendments to annual contributions contracts (ACC), if required; to execute an agreement, release from declarations of trust, and any other documents on behalf of the County, subject HUD�s approval; and to exercise amendments, modification, cancellations, and termination clauses; and

6. This Board waives the provisions of section 2-10.4.2 of the Code of Miami-Dade County, Florida requiring two MAI appraisals for County property if its estimated fair market value is over $5,000,000.00.

Scope
The scope of this item is countywide in nature; however, Gibson Plazza is in District 7, which is represented by Commissioner Raquel Regalado.

Fiscal Impact/Funding Source
There will be a positive fiscal impact to the County for approving and executing the lease and the MDA for Gibson Plaza which will result in revenue sharing and capital improvements to the project as further described below. For this project, it is estimated that through the leasing of the project site, the County will receive a total estimated amount of $572,678,839.00, inclusive of a capitalized lease payment of approximately $1,725,000.00; an annual share of 16 percent of all net distributable operating receipts characterized as net cash flow, until the end of the lease term estimated at $561,872,273.00. Further, as established under the MDA, it is estimated that the County will receive a consulting fee equal to 30 percent of any developer fee estimated at $6,598,566.00. There will also be an Asset Management Fee of $25,000.00 annually after the first full year of stabilization, estimated at $2,225,000.00; and a one-time stabilization fee of $150,000.00. The County will also receive a monthly Davis Bacon monitoring fee in the amount of $3,000.00 monthly during the construction period, estimated at $108,000.00, and equitable distribution of the net proceeds of the sale or refinance of the subject property, the positive fiscal impact will be proportionate to the unit mix, as specified in the MDA.

Track Record/Monitor
Alex R. Ballina, Director of Housing and Community Development (�Department�), is the project manager and Indira Rajkumar-Futch is the Procurement Contracting Manager.

Delegated Authority
Upon the approval of this item, the County Mayor or County Mayor�s designee will be authorized to: (1) execute the lease, subject to HUD�s approval, and (2) execute the MDA. The County Mayor or the County Mayor�s designee will be further authorized to exercise all provisions contained in the lease, including, but not limited to, (a) termination and technical and non-substantive amendment provisions; (b) exercising right of first refusal option; (c) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees, to be submitted to County; (d) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (e) execute any and all documents on behalf of County necessary or convenient to the foregoing approvals, consents, and appointments; (f) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and redevelopment of the project site; (g) executing joinders and consents to access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (h) amending the lease to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the lease. Further, the County Mayor or County Mayor�s designee will be authorized to exercise all provisions contained in the MDA, including, but not limited to: (a) termination of short term lease and technical and non-substantive amendment provisions; (b) reviewing and approving documents, plans, any and all other requests required of, or allowed by, RUDG, its sublessees or assignees to be submitted to County; (c) consenting to actions, events, and undertakings by RUDG or extensions of time periods for which consent is required by County, including, but not limited to, extensions of time for the performance of any obligation by County; (d) executing any and all documents on behalf of the County necessary or convenient to the foregoing approvals, consents, and appointments; (e) assisting RUDG with and executing on behalf of the County any applications or other documents, needed to comply with applicable regulatory procedures and to secure financing, permits or other approvals to accomplish the construction of any and all improvements in and refurbishments of the property; (f) executing joinders and consents to easement and access agreements, for the purposes of granting any needed non-exclusive vehicular and/or pedestrian ingress and egress access routes and for any parking within and throughout the project; and (g) amending the MDA to correct any typographical or non-material errors, to address revisions or supplements hereto of a non-material nature or to carry out the purposes of the MDA. Finally, the County Mayor or County Mayor�s designee will be authorized to: (1) subject to HUD�s approval, execute any and all necessary RAD and/or mixed-finance and related agreements and any and all other documents related to necessary for the development, management, and operation of the project sites; (2) submit a demolition and/or disposition application to HUD, if required, for the project sites for the purpose of demolishing and disposing of the existing building located on the project sites; and (3) execute amendments to annual contributions contracts, if required; to execute and agreement, release from declarations of trust, and any other documents on behalf of the County, subject HUD�s approval, and to exercise amendments, modification, cancellations and termination clauses.

Background

On April 12, 2023, the County advertised Request for Proposal (RFP) � No. 2023-01-GPWG � Gibson
Plaza/West Grove Redevelopment seeking proposals from perspective developers who have the capability, expertise, capacity, and resources to obtain financing to successfully redevelop Gibson Plaza and West Grove housing sites with affordable, workforce housing, and market rate units. The Competitive Selection Committee (Committee) recommended that the County negotiated with the two highest ranking proposers, i.e., RUDG, LLC (RUDG) for Group 1 (Gibson Plaza), and Integral Florida, LLC (Integral) for Group 2 (West Grove). On September 17, 2024, the Board of County Commissioners (�Board�) adopted Resolution No. R-829-24, authorizing the County Mayor or the County Mayor�s designee to initiate negotiations for RFP � No. 2023-01-GPWG � Gibson Plaza/West Grove Redevelopment with the highest ranked proposers, i.e., RUDG (Group 1), and Integral (Group 2) for the redevelopment of the Gibson Plaza and West Grove housing developments, respectively. Pursuant to that resolution, the County administration disclosed to the Board that it would return for further approvals of the permanent ground lease and master development agreement.

This item seeks authorization to execute the MDA. Pursuant to the MDA, RUDG has agreed to construct a development that will consist of a total of 345 mixed-income units, which will replace the existing 65 units which are currently subject to a Section 8 HAP contract by transferring the HAP contract to the new development. The new development will also incorporate 46 additional new deeply affordable units subsidized by the HUD Faircloth-to-RAD program. RUDG has further agreed to provide certain community benefits which include a commitment by RUDG to provide a minimum of 20 percent of new hires from Section 3 eligible residents as local construction and permanent hiring. In addition, the developer has committed to award a minimum of 25 percent of the construction subcontracts to certified Section 3, CBE, DBE, S/M/WBE, and Labor Surplus Area firms in the event RUDG fails to comply with the community benefits requirements, then RUDG will be required to pay liquidated damages to the County.

In order to increase the number of affordable housing units on-site, the development will include 46 Faircloth-to-RAD units. Faircloth-to-RAD (now known as Restore-Rebuild) brings together two HUD processes in one integrated system, allowing public housing authorities to submit a public housing proposal to create new units and simultaneously submit documents to allow the conversion of the units to RAD upon construction completion. This process brings new subsidy to the project that does not currently exist.

In accordance with the Board�s Rules of Procedure, a community meeting to discuss the project took place on September 30, 2024.

Finally, it is recommended that the Board waive the provisions of (a) section 2-10.4.2 of the Code of Miami-Dade County, Florida requiring two MAI appraisals for County property if its estimated fair market value is over $5,000,000.00, and (b) Resolution No. R-333-15 related to the disclosure of the market rental of such property. As negotiated, the County will be receiving the financial benefits described above and commensurate public benefits, including a Miami-Dade Public Library branch, a community room, affordable housing, and the benefits listed on the Community Benefits Statement, below. None of these financial and commensurate public benefits would be considered by an appraiser or included in an appraisal. Pursuant to Resolution No. R-333-15, the Property Appraiser�s 2024 market value for the entire folio, comprised of approximately 1.19 - acres is $6,760,813.00.

Community Benefits Statement
The following are the benefits being provided by this project. In accordance with Ordinance No. 24-30, the following are the community benefits related to the development of the property:

(1) Binding obligations and non-binding commitments to provide amenities, benefits, urban revitalization, cash incentives, or improvements to the community where the development is located, and benefits to adjacent or other communities affected by the development.
The development is incorporating both affordable and market rate housing, a clubhouse, a public library with 7,800 square foot space on the first floor to be administered and operated by the Miami-Dade County Public Library system, subject to approval by the Miami-Dade County Public Library Department, free Wi-Fi enabled resident lounge, community art programs, health and wellness programs, and financial literacy classes amongst other amenities/benefits, all within the community.

Moreover, the project will create 345 total apartments, including 65 replacement units,46 Faircloth-to-RAD subsidized units, 62 workforce housing units, and 172 unrestricted housing units. The County will derive a substantial income stream from the project.

(2) Funds that are contractually required to be invested into the Development and the community.

RUDG is required to obtain the funding to finance the project development and construction, which is expected to cost approximately $147,998,620.00 (which is calculating an approximate total development cost of $428,982.00 per the total 345 units).

(3) Number and type of direct and indirect jobs, both temporary and permanent, anticipated to be created by the development, the wage benefit levels of each, and any apprentice or job training programs.

The number and type of direct and indirect jobs is estimated to be a 468 new construction and 6 new permanent jobs. RUDG is also required to comply with the federal Section 3 program, which requires that recipients of certain HUD financial assistance, to the greatest extent possible, provide training, employment, contracting and other economic opportunities to low- and very low-income persons, especially recipients of government assistance for housing, and to businesses that provide economic opportunities to low- and very low-income persons. Additionally, the Davis-Bacon wage schedule in effect for Miami-Dade County. The project is expected to provide temporary constructions jobs, including electricians, plumbers, general contractors, and permanent positions including property managers, security jobs, janitorial services, landscaping, and other maintenance personnel.

(4) Neighborhood amenities and infrastructure that will be created by the development, including streetscape improvements, green space, and park.

In addition, to the affordable and market rate housing, the project will provide the following neighborhood amenities and infrastructure: Enhanced sidewalk improvements with new landscape, public library, community art programs, and a health and wellness program. They will also offer financial literacy classes. RUDG has agreed to complete the project, including the building and apartments, with all of the following development amenities:

a. Community Room Space
b. Coworking space
c. Fitness Center
d. Amenity deck with pool
e. Wi-fi enabled resident lounge
f. Professionally curated art throughout common areas and public spaces
g. Gated entry with controlled access
h. CPTED/Security cameras
i. Dog washing station and dog walking areas
j. Reserved parking for residents
k. Private enclosed bike storage
l. Open green spaces
m. On-site property management
n. Generators for community space

Apartment Amenities for each apartment will include the following:

a. Washer/Dryers
b. Granite or comparable material for counter tops
c. Dishwashers
d. Refrigerators with ice makers
e. HVAC/Smart Fans Systems
f. Tile Flooring
g. Electric Water Heaters

(5) Compliance, reporting, and monitoring of contractual requirements.

RUDG will provide all the reports necessary to monitor the development progress, construction, operations, and all proof of revenue generated by the project that supports the revenues belonging to the County.

(6) Consequences for failure to meet any contractual requirements and the County�s remedies.

Failure of RUDG to develop the project as required by the MDA, and/or any default activity, the County will have the right to terminate the lease and the MDA for default or request liquidated damages to the County.



________________________________
Cathy Burgos, LCSW
Chief Community Services Officer