Fort Walton Beach Council agenda — 09-11-12 regular — reading text

Clerk es, e weet - t c..+ ac. Before me, the undersigned authority, on Z,,, , 2010, personally appearedUshael -Amdersen and Helen Spencer, in their representative capacity as the City Mayor and the City Clerk, and by proper authorization of the Council of the City of Fort Walton Beach, Florida, did execute this Agreement in the name of the City of Fort Walton Beach, Florida. We D. Mad) Or ld ConrnWw DD 716389 BON October 15, 2D11 9 Pacic t P 112 `;:'  6/ 3/ 10 Fort Walton Beach Community Redevelopment Agency Attest: D Michael Beedie, Secretary tzC , Before me, the undersigned authority, on - 2010, personally appeared Doug Reed 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. 0. r 146tar Public 4. k— Catherine A. Ducharme Commission # DD568486 Expires October 19, 2010 i 8onaee Troy Fein - Naunnet, Nic lOa38S7818 10  613110 Fort Walton Beach Housing Authority Dated By: Gail Sansbury, Executive Director Before me, the undersigned authority, on : a Z5' , 2010, personally appeared Gail Sansbury, in her representative capacity as the Fort Walton 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. _ i\,L- , A ry. Public Catherine A. D ucharme A Comntission # DD568486 q •.- Expires October 19, 2010 oe, leo 60045014 014 i pp 1RY 11  6/ 3/ 10 Sound Side Apartments, LLC 2: je Dated By: Gal Sansbury, as Executive Direc r Of Fort Walton Beach Housing Authority, Its Sole Member Before me, the undersigned authority, on ZS , 2010, personally appeared Gail Sansbury, in her representative capacity as the as 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. Notary Public a1c;.•, Catherine A. Ducharme Commission # DD568486 Expires October 19, 2010 Bonded TroyFeM• imwnMOe, lno bOWHFT019 12  6/3/ 10 Exhibit A Anticipated Qualifying Costs d DESCRIPTION ENTITY AMOUNT c Civil Engineering Jenkins Engineering 5, 800 0 Architectural Pucciano -English 35, 000 Market Study Update Value Tech 1, 750 Limited Appraisal Berkadia 1, 750 E dd Phase I Study Dominion 1, 750 a Market Study Update Value Tech 3, 800 Uv Limited Appriasal Value Tech 2, 000 0 d Phase I Study Dominion 2, 000 Asbestos Study 5,000 a w Lead Based Paint 5,000 Report A & E Cost Review Selected by Lender 10, 000 0 M o Firm Appraisal Value Tech 4,800 Firm Application Fee HUD 55, 500 Rate Lock Berkadia 92, 500 Miscellaneous 10, 000 TOTAL 236,650 13  6/ 3/ 10 Exhibit B Sound Side Apartment Homes Civil Drawings and Specifications Prepared, and as amended, by Jenkins Engineering, Inc. 14  FIRST AMENDMENT TO INTERLOCAL AGREEMENT AMONG THE CITY OF FORT WALTON BEACH, FLORIDA, FORT WALTON BEACH COMMUNITY REDEVELOPMENT AGENCY, FORT WALTON BEACH HOUSING AUTHORITY & SOUND SIDE APARTMENTS, LLC, REGARDING INFRASTRUCTURE IMPROVEMENTS AT SOUND SIDE APARTMENTS, A PLANNED UNIT DEVELOPMENT THIS FIRST AMENDMENT TO INTERLOCAL AGREEMENT ( the " First 11th Amendment') is made and executed this 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 of the 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 Interlocal Agreement dated June 25, 2010 the " Agreement'). B. The Parties now desire to amend certain provisions of the Agreement, on the terms and conditions set forth herein. IN CONSIDERATION OF the foregoing facts and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the Parties, 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 "$ 700, 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. Amendment of Section 5 of the Agreement. Section 5 of the Agreement is hereby 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. This First Amendment may be executed in any number of Miscellaneous. counterparts, any one and all of which shall constitute the contract of the parties 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 terms in the Agreement. Signature Pages Follow] e: \fwbha \germany \forms \first amendment to interlocal 082012 jvc.doc 2-  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 Attest: Dated LIM Mike Anderson, Mayor Helen Spencer, City Clerk Before me, the undersigned authority, on , 2012, personally appeared Mike Anderson and Helen Spencer, in their representative capacity as the City Mayor and the City Clerk, and by proper authorization of the Council of the City of Fort Walton