Sawyer's Square Phases | & II RESPONSE To RFP # 13-003 BLOCK 55 JULY 23, 2013 STONE SOUP DEVELOPMENTStone Soup Development, Inc. 2130 NW 13" Street, Miami, Florida 33125 ddoug.mayer@gdi2100.com 305-761-8030 Tualy23, 203 Clarence E, Woods, I Executive Director Southeast OvertownParkwest CRA, 1490 NW 3% Avenue, Suite 105 Miami, FL 33166 Re: Sawyer’s Square I & II - response to REP #13-003 for Block $5 Dear Mr. Woods: ‘We have assembled a highly experienced and dynamic team of professional forthe evelopment ofthe project we call Sawyer’s Square; a team dedicated not only to ereating a evelopment ofthe highest quality, but one which provides real and significant participation of the community and its residents both during construction and long after. Included aze architects, developers, construction managers, property managers, career developers, 4 area churches and a ‘Miami based African American investment group. Out team is keenly aware ofthe rich history ‘of Overtown and the social and cultural fabric which contributed so strongly tothe community's health and success during its heyday. We intend to work very hard to do what we can to help revive that spirit accomplish the goals we have established for our development and its relationship with the surrounding neighborhood. Local Religious Institutions and CDCs We have secured the unprecedented participation of four major Overtown churches and their ‘nonprofit Community Development Corporations. These four organizations will be members of| ‘our development team and collectively will receive 25% of the Developer Fee. They ate: > Mt Zion Baptist Church, led by Dr. Reverend Ralph Ross and its CDC, Mt. Zion Developments, Inc., Don Patterson, Executive Director > St Agnes Episcopal Church and its Community Development Corporation, Father Richard Marquess Barry Founder &CEO, and Lucille Rich, Executive Director > St John Institutional Missionary Church pastored by Bishop James Adams and St John CDC, Ola Aluko, Executive Director > Greater Bethel AME Church, led by Pastor Edward C. Lake and BAME Development Corporation of South Florida. 2‘With respec to the residential components of the development, assuming that tax erdits are utilized in financing, we wil structure the business deal so that ownership of the residential portion of the development will be transferred to the four church- based CDC partners pon completion ofthe mandatory 15-year compliance period, The African American Finance Consortium The Finance Consortium, led by Ronald E. Frazier, willbe a group of local African American investors who will be the minority equity partners in the development. This group will have a 25% Local minority ownership ofthe commercial development component of Sawyer’s Landing. Mr. Frazier, wth his experience as a minority owner ofthe Bayside project with the Rouse Company and other business ventures, is committed to organizing the Finance Consortium. The members will consist of local professional, business and civic leaders from ‘the African American community, who will ech make a financial commitment to the project and share in its ownership and profits ‘The Developer ‘The principals of our development team have collectively over 120 years of experience and include: Doug Mayer, President of Stone Soup Development, John Harrison, President of Harrison Construction, Pedro Maysonet, President of the Maysonet Group, Carlos Toledo, Vice President of Multi-Family Management for Maysonet Group, Principal developer, Mr. Mayer, has 32 years of experience in the nonprofit field, and during his 2 decades of affordable housing experience has developed 12 projects representing 1,234 affordable housing units and over 50,000 square feet of retaiU/commercial space. Mr. Mayet has successfully applied for and been awarded numerous types of funding including: HUD Section 202 elderly funding, tax credits (both 9¥ and 4%), HUD MeKinney-Vento homeless fands, HUD NSP II funding, tax exempt bonds, HOME, CDBG, VA Grant & Per Diem hhomeless funds, Federal Home Loan Bank AHP grants, Surtax, foundation grants and traditional bank financing (ur property managerrent company is HUGE Change IREM, LLC. The principals of HUGE, ‘Change are Pedro Maysonet (President and owner of the Maysonet Group, a minority owned firm), od Carlos Toledo Vice President of Maysonet Group; together they have been involved ‘in the property management and housing development field providing both affordable and market-rate housing se-vices. Combined, HUGE has engaged in the management of over 20,000 units of multi-family housing, of which 5,439 are Tax Credit funded. HUGE has also developed numerous properties after successfully applying and utilizing Low-Income Housing, ‘Tax Credits, HOME Investment Partnership Funds and Tax-Exempt Bond Proceeds. Carlos ‘Toledo has provided credit underoriting services to state and local agencies involving tax credits, bond financing. SAIL (State Apartment Incentive Loan Program) funds, HOME and SHIP (State Housing Initiatives Program) funds. A HUGE team member has also successfully completed the Consortium for Housing and Asset Management (CHAM) certificate course ‘The fim is committed :o utilizing local minority businesses in the management and operation of| ‘the projet. John Harrison, President of Harrison Construction Corporation isa licensed general contractor ~ and will be serving ina capacity as pre-construction and overall construction 2