Fort Walton Beach Council agenda — 06-08-2010 Regular — reading text

third party for the purpose of allowing any claim which would otherwise be barred under sovereign immunity or operation of law. 9. Default/No Project a. A default by any party under this Agreement shall entitle the other parties to all remedies available at law or in equity, which may include, but not be limited to, damages, injunctive relief and specific performance. Each party shall give the other parties written notice of any default and shall allow the defaulting party not less than fifteen ( 15) days to cure the default. b. In the event the Project is not constructed for whatever reason, and the City has begun construction of the infrastructure improvements and expended other monies pursuant to this Agreement and is not otherwise in default under the terms of this Agreement, then the Property owner shall remain liable for the repayment of any and all expenditures made by the City and CRA pursuant to this Agreement. 10. Enforcement If any party seeks to enforce this Agreement, after proper notice pursuant to section 14 of this Agreement, by court proceedings or otherwise, then the prevailing parties shall be entitled to recover all fees and costs incurred, including reasonable attorneys' fees and costs for trial, alternative dispute resolution or appellate proceedings. 11. Controlling Law This Agreement shall be construed and governed in accordance with the laws of the State of Florida. 12. Amendment This Agreement shall not be modified or amended except by written agreement duly executed by the authorized representative of the governing bodies of the parties. 107  6/ 3/ 10 13. Interpretation This Agreement has been negotiated fully between the parties as an arms -length transaction. Each party has participated fully in the preparation of this Agreement. In the case of a dispute concerning the interpretation of any provision of this Agreement, all parties are deemed to have drafted, chosen and selected the language, and the doubtful language will not be interpreted or construed against any party. 14. Notice If notice is required, each party shall furnish to the other parties such notice in writing, posted in the U. S. mail or by hand delivery, or by overnight delivery service, addressed as set forth below. Any notice shall be deemed received only upon actual delivery at the designated address. Notices delivered after 5: 00 p. m., or on a non - business day, shall be deemed received on the next business day. If any time for giving notice would otherwise expire on a non -business day, the notice period shall be extended to the next succeeding business day. Saturdays, Sundays, and legal holidays recognized by the United States government shall not be regarded as business days. City of Fort Walton Beach CRA Board of Commissioners To: To: City Manager Chairman 107 Miracle Strip Parkway SW c/o City Engineer Fort Walton Beach FL 32548 107 Miracle Strip Parkway SW 850) 833 -9502 Fort Walton Beach FL 32548 Fax: ( 850) 833 -9640 850) 833 -9612 Fax: 850 833 -9926 Fort Walton Beach Housing Authority Sound Side Apartments, LLC To: To: Executive Director c/o Fort Walton Beach Housing Authority 27 Robinwood Drive SW Executive Director Fort Walton Beach, Florida 32548 27 Robinwood Drive SW 850) 243 -3224 Fort Walton Beach, Florida 32548 Fax: ( 850) 244 -6533 850) 243 -3224 Fax: 850 244 -6533 15. Effective Date This Agreement and the rights conferred by it shall become effective upon execution by all of the parties and the date of execution of the last party shall control, and otherwise as set forth in section 4 of this Agreement. 108  6/ 3/ 10 The undersigned set their hands as of the dates stated. City of Fort Walton Beach Attest: Dated L-On Mike Anderson, Mayor Helen Spencer, City Clerk Before me, the undersigned authority, on , 2010, personally appeared Michael 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 Beach, Florida, did execute this Agreement in the name of the City of Fort Walton Beach, Florida. Notary Public 109  6/ 3/ 10 Fort Walton Beach Community Redevelopment Agency Attest: Dated Doug Reed, Chairman Michael Beedie, Secretary 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. Notary Public 110  6/ 3/ 10 Fort Walton Beach Housing Authority Dated Gail Sansbury, Executive Director Before me, the undersigned authority, on , 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. Notary Public ijitil  6/ 3/ 10 Sound Side Apartments, LLC Dated Gail Sansbury, as Executive Director Of Fort Walton Beach Housing Authority, Its Sole Member Before me, the undersigned authority, on , 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 112  6/ 3/ 10 Exhibit A Anticipated Qualifying Costs DESCRIPTION ENTITY AMOUNT Civil Engineering Jenkins Engineering 5, 800 Architectural Pucciano -English 35, 000 Market Study Update Value Tech 1, 750 Limited Appraisal Berkadia 1, 750 Phase I Study Dominion 1, 750 Market Study Update Value Tech 3, 800 Limited Appriasal Value Tech 2, 000 Phase I Study Dominion 2, 000 Asbestos Study 5, 000 Lead Based Paint Report 5, 000 A & E Cost Review Selected by Lender 10, 000 Firm Appraisal Value Tech 4, 800 Firm Application Fee HUD 55, 500 Rate Lock Berkadia 92, 500 Miscellaneous 10, 000 TOTAL 236, 650 113  6/ 3/ 10 Exhibit B Sound Side Apartment Homes Civil Drawings and Specifications Prepared, and as amended, by Jenkins Engineering, Inc. 114  CITY OF FORT WALTON BEACH MEMORANDUM To: Robert T. Mearns, City Manager From: Michael D. Beedie, P. E., Engineering & Utility Services Director Date: June 4, 2010 Subject: Consideration of Interlocal Agreement to Fund the Infrastructure for the Sound Side Affordable Housing Development 1. BACKGROUND: 1. 1 On March 17, 2010, the CRA Board recommended unanimously to City Council the approval of funding up to $ 2, 500, 000 from CRA Fund Balance for the qualifying expenditures up to closing, the Build America Bond fees, and the installation of the required infrastructure for the Sound Side Affordable Housing development along Carson Drive SE and Third Street SE. 1. 2 On March 23, 2010, City Council adopted Resolution 2010 -12 which pledged up to 2, 500, 000 in CRA funds for site demolition, site improvements for infrastructure, site restoration, and other qualifying costs for the Fort Walton Beach Housing Authority' s Sound Side Affordable Housing development. 1. 2. 1 As part of the City Council approval, authorization was given to the City Manager, City Attorney, Finance Director, and Engineering & Utility Services Director to develop an Interlocal Agreement with the Fort Walton Beach Housing Authority to include the payback terms of the $ 2, 500, 000 loan. 1. 3 The parties involved in the Interlocal Agreement include the City of Fort Walton Beach, the Community Redevelopment Agency, the Fort Walton Beach Housing Authority, and Sound Side Apartments, LLC. 2. DISCUSSION: 2. 1 At the April 7, 2010, CRA regular meeting, the CRA Board approved obtaining the services of a full -time attorney to represent the CRA Board in the development of the Interlocal Agreement, Mr. Ken Spillias of the law firm Lewis, Longman & Walker PA since the City Attorney would represent the City in the process. 2. 2 Through the work of City Staff, the City Attorney, and the CRA Board Attorney, a draft Interlocal Agreement- has been developed