Current City Hall Site, What's Next, a CARMAX Appraisal?

Homestead City Hall Parcel with Miami-Dade Public Library Parcel in red outline.

No doubt this is a unique parcel. No doubt interest in the property has already been recorded and backroom deals have been and are still being discussed. The value had been placed at $8.5 million in 2010. Now we have learned the parcel is loaded with Radon and the building is contaminated with various other detrimental health concerns. This council majority ran on no backroom deals and full transparency, how is that working out? They kept the New City Hall Committee report hidden for two years knowing full well the place was contaminated!

Since the Homestead taxpayer is on the receiving end of so many bad decisions maybe it's time to get out in front of this issue before the City Council gets an appraisal from CARMAX, which is known for it's low-ball appraisals. Speaking of Wayne Rosen, there is said to be interest from him on this land.

Based upon the current contamination and the subsequent required building demolition the price bids will most likely fall to depths unseen for such a prime location by those making offers. The City Council needs to be firm, this is a unique corner in the City of Homestead and it needs to fetch top dollar.

Thanks to alert and wise contributors the library parcel is on it's own land but access and parking may complicate the sale and use of the City Hall property.

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MD Holdings II aka Michael Latterner-Wayne Rosen Loan Could Have "Material Adverse Effect" on U.S. Century Bank Merger Agreement

MD Holdings II

LATTERNER, MICHAEL 13 S.W. 7TH STREET MIAMI FL 33130 US

ROSEN, WAYNE 277 GALEON COURT CORAL GABLES FL 33143 US

South Florida Business Journal by Brian Bandell, Senior Reporter

Date: Monday, November 12, 2012
U.S. Century Bank’s merger agreement specifies two large land loans that could have a “material adverse effect” on the bank large enough to impact its pending acquisition by C1 Bank.

Avoiding severe losses on those loans in Homestead and rural St. Lucie County – two of the markets hardest hit by the real estate downturn – aren’t the only obstacles for U.S. Century Bank to completing this merger, but they illustrate the lending strategy that landed the bank in the “undercapitalized” condition it’s in today.
Both loans were already on the bank’s books in August 2009 when U.S. Department of the Treasury deemed the bank worthy of the largest Troubled Asset Relief Program (TARP) investment of any Florida bank.

U.S. Century Bank and St. Petersburg-based C1 Bank asked Treasury to give them a 90 percent discount to redeem the $50.2 million in TARP funds from taxpayers. Treasury rejected that offer and the banks countered by offering another $1.3 million to bring the TARP discount to 87 percent. It’s not clear whether Treasury will accept the new offer.

Yet, if U.S. Century Bank fails, taxpayer would see no return on their TARP investment. Loan charge offs, especially from volatile land loans, could hurt the bank’s prospects for surviving to close the deal and salvaging something for taxpayers and its shareholders.

The “material adverse event” section of U.S. Century Bank’s merger agreement and proxy statement, both obtained by the Business Journal from confidential sources describe how the bank could suffer a serious blow if it was required to take another $15 million in loan loss reserves. Only two borrowers are mentioned by name: Indian Sunburst Associates and MD Holdings II.

The larger loan is to MD Holdings II on 76.2 acres of farmland at 11760 S.W. 248^th Street in Homestead. 

The borrower, managed by Michael Latterner, obtained a $43.5 million mortgage from U.S. Century Bank in 2007, although the loan was modified at $25.6 million in January 2011. While there is no foreclosure action on file for that property, the housing market in Homestead has been slower to return than in urban parts of the county.

The site obtained approval in 2009 for 581 market-rate housing units and 83 workforce housing units.

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"NEW" City Hall Cash Pipeline Set To Flow With Competing Proposals

Wayne Rosen wants to use the existing plans and local Architect J. Robert Barnes wants to design a destination for everyone. The Shores/ Wayne Rosen offering is the prudent version based upon the fact that over $1,000,000 has been spent on the design.What will the City of Homestead have to give up in exchange?

Mr. Barnes' proposal would be starting from scratch. Someone pointed out because the EOC, Emergency Operations Center will be housed in the building that having commercial/retail operations or parking garages attached would render the building potentially unsafe from an act of terrorism.

Both plans would help Homestead and the downtown area but it is undetermined by what margin and this is where the recurring revenue projections to the city have to be fully examined. 

The meeting ought to be very interesting as certain City Council loyalties play out in public.

Mr. Barnes is also a stakeholder in the downtown area and has received CRA dollars to improve at least one of his property's facades. Mr. Barnes is also the president of Homestead Mainstreet.

Mr. Rosen, on the other hand, has appeared to receive favorable council decisions and has entertained Council members at his expense.

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New City Hall Meeting Wednesday 10/3/2012, Possibly Featuring Wayne Rosen

Why would we feature Wayne Rosen's picture on a blog about Homestead's New City Hall? 

Think strip mall where Homestead's Current City Hall sits.

City Council Special Call Meeting

Date: October 3

Time: 6:00 PM - 8:30 PM

Address: City Hall Council Chambers
790 N. Homestead Blvd.
Homestead, FL 33030

Contact: 305-224-4442

Email: Elizabeth Sewell, City Clerk

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Al Lorenzo and Quantum Results Paid More Than $63,000 by Two Frank May PACs, Mayor Bateman and Councilman Jimmie Williams III

 Photo of Frank May courtesy of eyeonmiami blog.

 http://eyeonmiami.blogspot.com/2010/09/new-pac-i-do-not-like-by.html

Two PACs run by Frank May, one with Jeff Porter and one with Tom David paid a combined $61,171 in 2009 and 2010 to Al Lorenzo and his firm now embroiled in controversy surrounding current elections. Miami-Dade County Mayor Carlos Gimenez and State Attorney Katherine Fernandez-Rundle have had to disassociate with the firm and recuse herself from the investigation into absentee ballot fraud respectively.
http://www.voterfocus.com/ws/mdccand/pdf_miamidade/rpt_743_251.pdf
 
300 Aragon Avenue, Coral Gables is the address of Quantum Results.

http://www.campaignmoney.com/political/527/citizens-united-for-protecting-our-community.asp

http://www.campaignmoney.com/political/527/citizens-for-reform-for-miami-dade-county.asp

Mayor Bateman and Councilman Williams paid Al Lorenzo $400 and $1,514 respectively in 2009. The Wayne Rosen, Redland Company, Homestead Concrete and Rene Taylor funded PAC that supported five current council members on the original filing documents paid $19,150 to Lorenzo. 

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CSUSA's Teacher's Alleged Actions Shake Community

Outrage At Keys Gate Charter School In Homestead As Teacher Andre Martinez Is Arrested For Sex With Former Students

By Kyle Munzenrieder Tue., Jul. 31 2012

http://blogs.miaminewtimes.com/riptide/2012/07/homestead_teacher_andre_martin.php#more

Andre Martinez, a teacher at a charter school in Homestead, was arrested yesterday on allegations that he carried on long-term sexual relationships with two former underage students. Martinez taught cinematography at Keys Gate Charter School, and the abuse is believed to have started back in 2010.

Martinez was held last night in jail on two counts of unlawful sexual activity with a minor. He has since posted his $15,000 bail and was released.

Police have not released the exact ages of the girls, but both are still under 18. Details of the relationship, including where they took place, also have not been released.

Police believe that there may be additional victims.

Since there aren't a lot of details yet, cue the TV stations going the "let's interview random parents" route. NBC 6 managed to grab this quote: "I think if the charges are true, we should castrate him and then worry about the court system later. That's what I think having a daughter," Riva Steinman, a mother of two, said. "I have zero tolerance -- in any school, to any young lady."

Obviously Martinez will not be castrated, but (assuming none of the girls were under 16) he could face up to 15 years in jail for each charges.

Follow Miami New Times on Facebook and Twitter @MiamiNewTimes.

 http://www.keyscharter.org/

 http://miami.cbslocal.com/2012/07/30/homestead-teacher-accused-of-sex-acts-with-former-students/

Parents need to address this issue ASAP, we are weeks away from a new school year. Homestead is currently under attack by crime. This city used to be a nice place to live. Demand that background checks of the Charter Schools employees are verifiable, that credentials are checked and certified. This shocking event went on for three years. Mr. Hage, Mayor Bateman and Chief Rolle need to reassure the community. Demand that they do and your child's safety is their priority above all else.

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THUD! Ethics Commission's Thirteen Month Investigation Into Councilman Williams and Developer Wayne Rosen Ends

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