Fort Walton Beach Resolution — 07-30-Adoption of CRA Plan — reading text

RESOLUTION 07- 30 A OF THE CITY OF FORT WALTON RESOLUTION BEACH, FLORIDA AMENDING THE INTERLOCAL AGREEMENT BETWEEN CITY OF FORT WALTON BEACH AND COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF FORT WALTON BEACH, FLORIDA DATED FEBRUARY 15, 2002, AND SEnlNG AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: On July 29, City Council of Fort Walton Beach approved and 2004, the authorized the execution of the Interlocal Agreement between City of Fort Walton Beach and Community Redevelopment Agency of the City of Fort Walton Beach, Florida. The original Interlocal Agreement formalized the responsibilities and obligations of the City and the Community Redevelopment Agency for the Agency' s redevelopment efforts. The original agreement had an expiration date of December 31, 2010. August 1, 2007, the Community Redevelopment Agency recommended On approval of the updated Community Redevelopment Agency Plan dated September 2007. That Plan anticipates a termination date of 2026. Further, modifications are needed to resolve redundancies and clarify duties outlined in the original agreement. Therefore, Community Redevelopment Agency having recommended the approval of the Amendment to the Interlocal Agreement between City of Fort Walton Beach and Community Redevelopment Agency of the City of Fort Walton Beach, Florida, on November 7, 2007, the City Council of Fort Walton Beach hereby approves and authorizes the Mayor to execute the amended Amendment to the Interlocal Agreement between the City of Fort Walton Beach and the Community Redevelopment Agency of the City of Fort Walton Beach, Florida which is attached to this Resolution. This resolution shall take effect immediately upon approval by the City Council. YJA~r'd ~1( Adopted: Mve; , Jd7 uk/kA Mike Anderson, Mayor Attest: Approved as to form and legal DISPOSITION sufficiency A#~ 1  AMENDMENT TO INTERLOCAL AGREEMENT between CITY OF FORT WALTON BEACH and COM~ TYREDEVELOPMENTAGENCY OF THE CITY OF FORT WALTON BEACH, FLORIDA NOVEMBER M.., 2007 This is an Amendment to the Interlocal Agreement dated February 15, 2002, by and between the City Of Fort Walton Beach, Florida, a municipal corporation of the State of Florida the " City"), and the Community Redevelopment Agency of the City of Fort Walton Beach, Florida, a body politic and corporate ( the " Agency"). All provisions of the Interlocal Agreement not specifically amended shall continue in full force and effect. 1. AMENDMENT TO SECTION 2. DEFINITIONS The following definitions of Section 2 are amended as indicated. 4) " City Council" means the City Council of the City of Fort Walton Beach, or any S\: leeessor thereto. 6) " Governing Body" means the City Council the gOVemiBg body of the .:\ gency, or any S\ieeessor board, eommissioR or eO{:} f} eil thereto. 8) " Plan" means the latest Community Redevelopment Plan adopted by the geRey f... aRd the City Council pursuant to the Act for rede"/elopmeat of the Area. 2. AMENDMENT TO SECTION 3. FINDINGS AND DETERMINATIONS Section 3, Findings and Determinations is amended as follows to update the current condition of funding and implementation of the Plan. The parties acknowledge that the Agency' s increment revenues have significantly increased through the successful completion of yearly Redevelopment Action Programs. However, the Agency does not have funds available to fully fund the costs of continuing the implementation of the updated Plan. Therefore, the City shall continue to be authorized and directed to administer implementation of the Plan. The City agrees to continue advancing certain funds and costs to the Agency and the Agency shall reimburse the City from the Special Revenue Fund as the funds become available. 2  3. AMENDMENT TO SECTION 5. LAND ACQUISITION PROGRAM Section 5, Land Acquisition Program, is amended to delete subparagraph ( b)( 2) in its entirety: 2) ' The am01:lfl.t of Rmds oa deposit aRea Fiseal Year ia the Rede~lelopmeat 8peeial R-e~leBtle Fund aesigaated aRd pleaged for property Reqmsitioa 8fl eoatemplated by this Sectioa 5 shall be equal to the paymeat made eRea Fiseal Year by the City to the Rede~/elopmeat Speeial feaue Re>< F\: Kl 1i' parsuaBt to Ordiflaflee No. 726. The City may fram time to time reqaire a greater ar lesser afB01;! fl..!of Radevelopmeat 8peeial Re\< eB1ie Fand manies be desigaated, 8fl may be determiaed oorJlg its eOBBiEiemtioa of the City's i\ mulal Badge!, provided, hmvtwer, BOtwiths~ aaything herein to the eontmry, the obligatioa of the Ageaey to disburse any fimds to the City purS\ia1lt to this A-greemeRt shall be S\ibofdinate to the lieR oa the R-ede~ lelopmeRt 8peeial R~ leR\: Ie Fl: Bd1 : for any bORds issued by the Agency. 4. AMENDMENT OF SECTION 6. ADMINISTRATION OF REDEVELOPMENT PROGRAM. Section 6, Administration of Redevelopment Program is amended as indicated. c) The Agency recognizes and acknowledges that it is in the best interests of the Agency that the Redevelopment Special Revenue Fund be administered and managed by the City. Accordingly, the parties hereby agree that the Redevelopment Special Revenue Fund shall be held by the City in trust for the Agency and administered and managed by the City in the same manner as other public funds of the City and in accordance with the Act and this Agreement. 8abject to o~lersigflt by the City Coooeil, the appropriate offieials of the City, iookIding the City Maaager and the Finanee Director or others S\ibjeet to their diFeetioa, are a1::1thorized to tak~ sueh aetiOBB 8fl are B:eeessary aRd apprepriate to properly administer the R~Ei& velopmeRt 8peeial R~{ enue FUBd, iael1:1tli: ki. ftg l'ftg l8: sooh deposits aRd withcHawals 8fl may be neeessary frem time to time. The geRey aad the City further agree that the City may eo miagle the funds ia the f... Redevelopmeat Special Revenue F1::1IKl ': lith other pablie fuBds for inyestment and other legal purposes pro'{ ided the amounts ill the RedevelopmeRt 8peeial R-eveRl: Ie F\: Klare 1i' properly ideatified and accounted, S\ibjeet to the proyisiofls in pafagmpfl. d) of Section 10 of this :\ greemeat. 5. AMENDMENT OF SECTION 10. REDEVELOPMENT SPECIAL REVENUE FUND; DEPOSIT OF INCREMENT REVENUES. Section 10, Redevelopment Special Revenue Fund; Deposit of Increment Revenues is amended as follows. 3  a) The parties City aRd the A-geaey eOVena:Bt aRd agree that they will receive. hold. disburse and secure the Redevelopment Special Revenue Fund pursuant to the Act., so loag 8fl all prerequisites 1: 1Bder the .:\ et for damg so ha~{e BeeR satisfied, it will tak'0 s\: leh aeUOB 8fl is aeeessary to maintam the RedevelopmeRt 8peeial R-eleftue :' 1i' and eause the deposit thtweiR of IneremeBt F\: Kl ReveR\I:es, or take any other aetioB that ~:. ma ealise monies to Bet be depesiteEl in T() the RedevelopmeRt Speeial R~: eRlie reqmrea to be depesited F\: Kl 1i' that are therein, or to be "WithdfaWB m the fr{) R-eae><: elapmeRt 8peeial R-eveRue F\: Hla for purpases Bot eOBtemplated by this Agreemeflt or permitted by the .l\ et or the PlaB. 6. AMENDMENT OF SECTION 22. EXPIRATION DATE. Section 22, Expiration Date, is amended as follows. The Interlocal Agreement through this amendment shall expire on December 31. 2026. It is the mteRt of the parties hereto that the term af this AgreemeRt saomd eOBtmue for no loftger thaB the time the PlaB is iB effeet. Aeeordingly, 1mless earlier termiBated by the parties or eKteBded by mataal agreemeRt of the City aIld the '^ 1geRey by adOptiOR aRd 6* eeatioB of an amendment to this .^..greemeRt or a S\ibsequeRt interloeal agreemeBt, this Agre-meRt shall &xpire OR DeeemBer 31, 2010 or such other earlier date when the Plan expires or is repealed. 7. EFFECTIVE DATE. This Amendment shall become effective immediately upon the execution by the appropriate officers of the City and the Agency, and upon filing with the Clerk of the Circuit Court ofOkaloosa County, Florida, as required by Section 163. 01(11), Florida Statutes. 4  IN WI1NESS WHEREOF, the Parties hereto, by and through the undersigned, have entered into this Interlocal