Fort Walton Beach Council agenda — 02-12-13--cra — reading text

450 HAS BEEN PAID. Packet Pg. 37  7. 1. c IN WITNESS WHEREOF, Maker has signed this Surplus Cash Note on this day of , 2013. MAKER: SOUND SIDE APARTMENTS, LLC, a Florida limited liability company By: Fort Walton Beach Housing Authority, a body corporate and politic organized under Chapter 421 of the Florida Statutes, its sole member By: Gail Sansbury, Executive Director Previous editions are obsolete', Surplus Cash Note HUD- 92223M ( Rev. 04111) Replaces fain HUD -92223 ( 01195) FLORIDA DOCUMENTARY STAMP TAX IN THE AMOUNT OF $ 2, 450 HAS BEEN PAID. Packet Pg. 38  7. t. d FIRST AMENDMENT TO INTERLOCAL AGREEMENT AMONG THE CITY OF FORT WALTON BEACH, FLORIDA, FORT WALTON BEACH COMMUNITY REDEVELOPMENT AGENCY, FORT WALTON BEACH IIOUSING AUTHORITY & SOUND SIDE APARTMENTS, LLC, REGARDING INFRASTRUCTURE IMPROVEMENTS AT SOUND SIDE APARTMENTS, A PLANNED UNIT DEVELOPMENT THIS FIRST AMENDMENT TO INTERLOCAL AGREEMENT ( the " First Amendment ") is made and executed this 11' s day of September, 2012, among the City of Fort Walton Beach ( " City"), a Florida municipality, Fort Walton Beach Community Redevelopment Agency ( " CRA "), a Florida special district, Fort Walton Beach Housing Authority ( "FWBHA "), a body corporate and politic organized under Chapter 421 ofthe Florida Statutes, and Sound Side Apartments, LLC ( "Sound Side "), a Florida limited liability company collectively known hereinafter as the " Parties"). RECITALS A. The Parties entered into that certain Inlerlocal Agreement dated June 25, 2010 e°+ the " Agreement'). N B. The Parties now desire to amend certain provisions of the Agreement, on the H terms and conditions set forth herein. 0 IN CONSIDERATION OF the foregoing facts and other good and valuable ' considerations, the receipt and sufficiency of which are hereby acknowledged, the Parties, E intending to be legally bound, hereby agree as follows: 1. Recitals. The above Recitals are true and correct and by this reference are incorporated as if fully set forth herein. 2. Amendment to Section 1 of the Agreement Section 1 of the Agreement is hereby amended by adding the following as Section 1( f) of the Agreement: f. FWBHA wishes to only borrow up to $ 700, 000 in Community Redevelopment Revenue Special Trust Funds for the Sound Side Apartments Planned Unit Development" 3. Amendment of Section 3( d) of the Agreement. Section 3( d) of the Agreement is hereby amended by replacing "$ 2, 500, 000" with 1700,000. 4. Amendment of Section 4( b)( iii) of the Agreement. Section 4( b)( iii) of the Agreement is hereby deleted in its entirety. 5. ement. Amendment of Section 5 of the Agreement. Section 5 of the Agreement is hereby Packet Pg. 39  F7 1.. d deleted in its entirety. 6. Amendment of Section 6( a) of the Agreement. The third and fourth sentences of Section 6(a) of the Agreement are hereby deleted in their entirety and replaced with the following: The parties acknowledge that the total estimated qualifying costs and cost of the infrastructure improvements and other project related costs will not exceed 700, 000. The total amount shall be repaid by the Property owner to the City at no more than $52, 142. 41 per year at one and one -half percent ( 1. 5 %) interest, and shall be payable no sooner than three years after the Closing ( the " Trigger Date ")." 7. Miscellaneous. This First Amendment may be executed in any number of counterparts, any one and all of which shall constitute the contract of the patties and each of which shall be deemed an original. Except as provided herein, the Agreement is unmodified, in full force and effect and hereby ratified in every respect. In the event of any conflict between the terms of the Agreement and the terms of this First Amendment, the terms of this First Amendment shall control. Terms which are capitalized but not defined herein shall have the meanings given to such terns in the Agreement. Signature Pages Follow] e.\fwbha \gvmaayVonnslfirst amendment to inwloca1082012 p, kd 2_ Packet Pg. 40  7. t. d IN WITNESS WHEREOF, the Parties have caused this First Amendment to be executed as of the date first set forth above. City of Fort Walton Beach i 1, t Z- Attest: Dated v(i LL L By. Mike Anderson, Mayor Helen Spencer, City erk Before me, the undersigned authority, on 5." hef I I , 2012, personally appeared s Mike Anderson and Helen Spencer, in their representative esent capacity as the City Mayor and the ` o City Clerk, and by proper authorization of the Council of the City of Fort Walton Beach, Florida, w did execute this Agreement in the name of the City of Fort Walton Beach, Florida 0m N N Notary Public 0 3- Packet Pg. 41  7. 1. d Fort Walton Beach Community Redevelopment Agency Attest Dated Y— ennis Reeve Chairman Michael Beedie, Secretary Before me, the undersigned authority, on .s , 2012, personally appeared Dennis Reeves and Michael Beedie, in their representative capacity as the Fort Walton Beach Community Redevelopment Agency Chairman and Secretary, and by proper authorization of the Board of Commissioners, did execute this Agreement in the name of the Community Redevelopment Agency. Notary Public LARAINE VAN ETTEN NOTARY PUBLIC STATE OF FLORIDA t tA5832A i_rp e. v312014 4. Packet Pg. 42  7. 1. d Fort Walton Beach Housing Authority Dated By: Gail Sansbury, Executive Director i Before me, the undersigned authority, on o 2012, personally appeared Gail Sansbury, in her representative capacity as the Fort We[ on Beach Community Housing Authority Executive Director, and by proper authorization of the Board of the Fort Walton Beach Housing Authority, did execute this Agreement in the name of the Fort Walton Beach Housing Authority. 0a P Notary Public N_ N y 4,, gpyryPUai[$ Mb el rlo,iEa ON FJ F 43lCOM r- Mf+,pOrtO n0Gm Nawn i12D14 a0 5-5- PacketPacket Pg.Pg. 4343  7. t. d Sound Side Apartments, LLC Dated By: Gail Sansbury , as Executive Direct Of Fort Walton Beach Housing Authority, Its Sole Member 1 Before me, the undersigned authority, on 2012, personally appeared Gail Sansbury, in her representative capacity as the Executive Director of the Fort Walton Beach Housing Authority, the sole member of Sound Side Apartments, LLC, and by proper authorization of the Board of Sound Side, LLC, did execute this Agreement in the name of Sound Side Apartments, LLC.