Okaloosa County BOCC — July 6, 2016 — Amend 11 C1-1798-GM executed by OCDC

AMENDMENT NO. 11 AGREEMENT (C10-1798-GM) between THE OKALOOSA COUNTY BOARD OF COUNTY COMMISSIONERS and OKALOOSA COMMUNITY DEVELOPMENT CORPORATION for UTILIZATION OF THE NEIGHBORHOOD STABILIZATION PROJECT (NSP1) FUNDS This Eleventh Amendment to C10-1798-GM, is made and entered into this day of 2016, by and between OKALOOSA COUNTY, a political subdivision of the State of Florida having its principal office at 1250 N Eglin Pkwy, Shalimar, FL 32579 (hereinafter referred to as "County") and OKALOOSA COMMUNITY DEVELOPMENT CORPORATION, a non-for profit corporation having its principal office at 204 Cloverdale Blvd, Fort Walton Beach, FL 32547 (hereinafter referred to as "Developer"). WHEREAS, on July 31, 2008, the United States Congress enacted the Housing and Economic Recovery Act of 2008 (HERA), thereby creating the Neighborhood Stabilization Project, NSP1; and WHEREAS, on December 1, 2008, the State of Florida acting through tis Department of Community Affairs (DCA) published its NSP1 Substantial Amendment pursuant to the requirements of HERA; and WHEREAS, on December 12, 2008, the County issued a Request for Proposals (RFP) for qualified housing developers to purchase foreclosed and/or abandoned residential units in Okaloosa County and to oversee any needed rehabilitation, resale, management, and renting of affordable housing units in compliance with all the rules required by NSP1 and administered by the State of Florida’s NSP 1 Substantial Amendment; and WHEREAS, after the procurement process was complete, and through discussions with the Florida Department of Community Affairs, a decision was made to enter into Contract C10- 1798-GM with the Okaloosa Community Development Corporation to serve as the Developer; and Page 1 of 15 WHEREAS, in accordance with the grant funding provided under the NSP1 program, and scope of work under C10-1798, Developer has been managing as well as building and developing new residential units at a partially completed townhome development known as Palm Village; and WHEREAS, on May 31, 2016, the Florida Department of Economic Opportunity which took over the NSP1 project for DCA, ceased funding the Okaloosa County NSP1 program; and WHEREAS, the construction of Palm Village has not been completed yet, but as part of the requirements of the NSP1 grant agreement, Okaloosa County is required to finish the building of those units and continue to monitor the units which were developed in accordance with the grant funds until the last unit reaches the end of its affordability period; and WHEREAS, the County and the Developer, now find it in the best interest to amend the terms of C10-1798-GM to reflect the changes in circumstances as of May 31, 2016. NOW, THEREFORE, in consideration of the mutual benefits contained herein, the County and Developer agree as follows: 1. Section 1 of C10-1798-GM, titled “Agreement Documents”, is hereby amended to include and incorporate the following additional attachment: Attachment XIV Period of Affordability Said attachment, is attached hereto and incorporated by reference. 2. Section 2 of C10-1798-GM, titled “Project/Statement of Work™, is hereby revised and amended as follows: Section 2. Project/Statement of Work: The Developer agrees to implement the Project as follows, up to May 31. 2016: Task 1 — Home Ownership Activities: to include the acquisition, rehabilitation, and resale of single family homes and multi-family homes and/or units to qualified low and low to moderate income households. Page 2 of 15 Task 2 Rental Housing Activity: to include the acquisition, rehabilitation, and rental of single family homes and multi-family homes to qualified low and low to moderate income households. Prior to funds being released for rental housing, a site specified operating proforma must be approved by Okaloosa County. An Unspecified Site Environmental Review Record has been completed by Okaloosa County and approved by DCA. Site specific environmen