DEVELOPMENT AND LEASE AGREEMENT WITH PINE DEVELOPMENT

Housing Committee · 2026-07-14 · resolution

Resolution approving a Development Agreement and 99-year Lease Agreement with Pine Development, LLC for a 36-unit affordable housing development on 1.24 acres of County-owned vacant property within the Metrorail right-of-way at the intersection of East 21st Street and East 4th Avenue in the City of Hialeah, Florida. The project includes a four-story building with approximately 500 square feet per residential unit and approximately 1,500 square feet of ground floor retail space. The developer will pay an annual development fee of $37,000.00 until lease execution, then annual rent of $37,000.00 for the first two lease years, increasing by three percent annually thereafter. Total projected revenue to the County is $21,145,998.12. The resolution waives public notice requirements under Resolution No. R-407-19. Status is 'In Committee' with an agenda date of 9/1/2026. No public comment or stakeholder sentiment is stated in the document.