Okaloosa County BOCC — September 15, 2015 — September 15, 2015 NSP Extension Letter

Board of County Commissioners State of Florida September 15, 2015 Jeannie Russell, Manager, NSP Program Florida Department of Economic Opportunity 107 E. Madison Street, MSC 400 Tallahassee Fl 32399-6508 RE: NSP-1 Contract Extension Dear Ms. Russell: We are writing to request a six month extension of grant agreement #10DB-4X-01-56-01-F 18 executed on November 24, 2009 with a current termination date of September 30, 2015; six months extends the termination date to March 31, 2016. Okaloosa County was originally awarded $3,258,435.00 of Neighborhood Stabilization Program funds. In November of 2013 we received an additional award of $301,917.35, making our grant award $3,560,352.73. At that time we also received an award of program income in the amount of $413,194.04. Through August, we have expended a total of total $3,173,762.78. We currently have 69 rental units. The full award amount has not been spent to date because of the need to build an additional 34 units on the Land Bank at Palm Village. The developer has award a construction contract to build six units on the land bank at Palm Village. The estimated completion date is February 2016. If you have further questions regarding our request for extension please contact me. Sincerely, Nathan D. Boyles Chairman Okaloosa Board of County Commissioners B BCC-North 302 N. Wilson St., Suite 302 « Crestview, FL 32536 « (850) 689-5030 Fax (850) 689-5025 B BCC-South 1804 Lewis Turner Blvd., Suite 100 * Fort Walton Beach, FL 32547 « (850) 651-7105 Fax (850) 651-7142