amending Ordinance No. 2022-32, as Amended, which approved a Planned Area Development for the property known as "Regency Parc" and legally described as Lots 1-12 and Lots 35-46, including the public alleyway lying in between, Block 10 and Lots 1-4, Block 15, Coral Gables Crafts Section (290, 272, 250, 244 Valencia Avenue, 247, 297 Almeria Avenue, and 2701 Salzedo Street), Coral Gables, Florida, to allow for the issuance of a Temporary Certificate of Occupancy prior to completion and conveyance of the public park to the City, subject to the terms and conditions of a Performance Bond or Letter or Credit Agreement, as approved by the City Manager and City Attorney

Joe Jimenez 305.905.5302 joe@jmz-group.com 2020 Salzedo Street, Suite 102 . Coral Gables, Florida 33134 February 26, 2026 Cristina Suarez City Attorney, City of Coral Gables 405 Biltmore Way, 2nd Floor Coral Gables, FL 33134 VIA ELECTRONIC MAIL RE: Requested Amendment of Ordinance No. 2022-32 Requiring Conveyance of Public Park Prior to Certificate of Occupancy Ms. Suarez, This firm represents Regency Parc, LLC (“Regency”). Regency is the developer of the project located at 2601Salzedo Street, approved by the City Commission through Ordinance No. 2022-32 (the “Project”). That Ordinance approved a Planned Area Development requiring, inter alia, the conveyance of the lot located at 2701Salzedo Street (the “Park”) as a public park prior the issuance of the first Temporary Certificate of Occupancy (“TCO”) for the Project. For the reasons stated below, Regency requests an amendment to the Ordinance. The Project has been in development for years. Plans have evolved over that time, considering the City’s needs and wishes. For a period in pre-development, there were discussions about placing the Project’s “Art in Public Places” required art piece in the Park. There was also consideration of the City’s growing need for pickleball courts and the possibility of constructing several courts in the Park. Finally, the City agreed with the Developer’s design to construct a passive, sophisticated, urban park. The Developer has met with the City Manager and City staff to finalize the park design and is ready to commence construction1. However, the Developer is also approaching the issuance of the first TCO. While the Developer is responsible for the delays in construction, we have every intent of delivering the park to the City, as promised. To guarantee delivery, and still be able to receive a TCO prior to that, the Developer is proposing placing a surety bond for the estimated amount of the cost of design and construction of the Park. The Developer estimates that amount to be four hundred and twenty-five thousand dollars ($425,000). The Developer will coordinate with the City Manager on a detailed list of deliverables, objectively ascertainable and deliver same to the City. Once delivered, the City shall release the bond. In the event the Developer fails to deliver within a specified timeframe, the City retains the bonded funds to complete the unfinished work. We feel that this request protects the City’s interest and allows the Developer to begin the finalization of the Project and allow tenants, who need certainty, to move into their new homes as soon as possible. We further request amending any necessary accompanying legislation or covenants the City deems necessary to further accomplish these stated goals. 1 A conceptual plan is attached. Page 2 of 2 The Developer takes great pride in always having had a mutually beneficial relationship with the City of Coral Gables. We do not take this request lightly, nor do we wish to add any complications to this long-standing relationship. Circumstances being what they are, the Developer humbly makes this request and hopes for a favorable decision from the City. Thank you for your attention to this matter and your continued cooperation. Respectfully, Joe Jimenez