HomeMy WebLinkAboutR-2020-043 City Authorizing Execution of a Third Amendment to a Loan Agreement with The Board of County Commissioners of Broward County & Board of Directors of the CRA of the City RESOLUTION NO. 2020-043
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA ("CITY"), AUTHORIZING EXECUTION OF A THIRD
AMENDMENT TO A LOAN AGREEMENT WITH THE BOARD OF COUNTY
COMMISSIONERS OF BROWARD COUNTY, FLORIDA ("COUNTY"), AND
THE BOARD OF DIRECTORS OF THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF DANIA BEACH, FLORIDA ("CRA"),
PERTAINING TO THE PARKING GARAGE INFRASTRUCTURE PROJECT;
PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the Community Redevelopment Act of 1969, which is presently codified as
Part III of Chapter 163, Florida Statutes, provides for certain powers including the power to
undertake and carry out community redevelopment and related activities within the community
redevelopment area, which may include installation, construction, or reconstruction of parking
garages among other improvements; and
WHEREAS, in authorizing the creation of the Dania Beach Community Redevelopment
Agency ("CRA") and in lieu of tax increment financing from Broward County ("County"), the
CRA and the City of Dania Beach ("City") entered into an Interlocal Agreement ("ILA") with
the County on April 20, 2004; and
WHEREAS, in recognition of parking access as a redevelopment tool, the 2009 and 2015
adopted CRA Plans provide that the CRA is empowered to pay for developing public parking
facilities, including but not limited to surface lots and structures; and
WHEREAS, the County implemented the Redevelopment Capital Program to fund
projects in Redevelopment Areas not receiving tax increment financing from the County in order
to promote and support private redevelopment; and
WHEREAS, the County, City and CRA entered into four loan agreements related to the
ILA for a parking garage infrastructure project; and
WHEREAS, the first loan agreement was dated March 24, 2009 and amended on February
22, 2011 and on March 4, 2014, pursuant to which the County made a loan in the amount of Two
Million Three Hundred Thirty Four Thousand Two Hundred Dollars ($2,334,200.00) to the City
and CRA for the acquisition on Parcel 109,the site of the municipal parking garage; and
WHEREAS, the County, City and CRA entered into a second loan agreement dated
September 28, 2010 and amended on February 8, 2011 and March 4, 2014, pursuant to which the
County made a loan in the amount of One Hundred Forty Thousand Dollars ($140,000.00) to the
City and CRA for a security system as part of a new parking garage; and
WHEREAS, the County, City and CRA entered into a third loan agreement dated
September 25, 2013 and amended on March 4, 2014, pursuant to which the County made a loan
in the amount of Two Hundred Seventy Three Thousand Seven Hundred Ninety Dollars
($273,790.00) to the City and CRA for the gate-arm entry system as part of the new parking
garage; and
WHEREAS, all three referenced loan agreements were in compliance with the
requirements of the ILA, as amended, and were eligible for loan-to-grant conversion and thus, on
March 9, 2018, were completely forgiven pursuant to the CRA's request for loan-to-grant
conversion; and
WHEREAS, the County's share of the revenue generated by the net increase in the tax
base within the Dania Beach Community Redevelopment Area boundaries due to specific private
redevelopment projects was calculated at Two Million Eight Hundred Forty Two Thousand Eight
Dollars ($2,842,008.00), which was an amount greater than the sum of the three (3) loan balances
which totaled Two Million Seven Hundred Forty Seven Thousand Nine Hundred Ninety Dollars
($2,747,990.00), leaving a surplus conversion in the amount of Ninety Four Thousand Eighteen
Dollars ($94,018.00); and
WHEREAS, the County, City and CRA entered into a fourth Loan Agreement dated
September 28, 2010 and amended on February 22, 2011 and March 4, 2014, pursuant to which
the County made a loan in the amount of Two Million Five Hundred Ninety Thousand Nine
Hundred Nine Dollars ($2,590,909.00) to the City and CRA to construct a parking garage to
include One Hundred and Ninety (190) spaces in addition to 250 parking spaces designated for
City Hall and the Library; and
WHEREAS, this Loan Agreement and the First and Second Amendments to the Loan
Agreement are attached as Exhibits "A", "B", and "C", and are made part of and incorporated into
this Resolution by this reference; and
WHEREAS, the CRA managed and completed the design and construction of the
"Green" municipal parking garage which has spurred private development including the adjacent
Hotel Morrison, which meets existing parking requirements by leasing spaces in the municipal
2 RESOLUTION#2020-043
parking garage from the City, and which had an initial building improvement value of Sixteen
Million Eight Hundred Fifty Nine Thousand Four Hundred Dollars ($16,859,400.00); and
WHEREAS, the fourth Loan Agreement is in compliance with the requirements of the
ILA, as amended, and was eligible for loan-to-grant conversion and thus, on September 17,
2019, was partially forgiven pursuant to the CRA's request for loan-to-grant conversion; and
WHEREAS, the County's share of the revenue generated by the net increase in the tax
base within the Dania Beach Community Redevelopment Area boundaries due to specific private
redevelopment projects was calculated at One Million Eight Hundred Seventy Five Thousand
Fifteen Dollars ($1,875,015.00), which was an amount less than the remaining loan balance
which totaled Two Million Five Hundred Ninety Thousand Nine Hundred Nine Dollars
($2,590,909.00); and
WHEREAS, the sum of the conversion amount of One Million Eight Hundred Seventy
Five Thousand Fifteen Dollars ($1,875,015.00) and the previous surplus conversion amount of
Ninety Four Thousand Eighteen Dollars ($94,018.00) is One Million Nine Hundred Sixty Nine
Thousand Thirty Three Dollars ($1,969,033.00); and
WHEREAS, given the total amount of conversion dollars of One Million Nine Hundred
Sixty Nine Thousand Thirty Three Dollars ($1,969,033.00) is less than the loan balance of Two
Million Five Hundred Ninety Thousand Nine Hundred Nine Dollars ($2,590,909.00), a Third
Amendment to the Loan Agreement is required to reflect a revised loan balance in the amount of
Six Hundred Twenty One Thousand Eight Hundred Seventy Six Dollars ($621,876.00); and
WHEREAS, the City desires to execute a Third Amendment to the Loan Agreement
with the County and CRA, a copy of which is attached as Exhibit "D", and is made part of and
incorporated into this Resolution by this reference;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the foregoing "Whereas" clauses are ratified and confirmed to be true
and correct and they are made a part of and are incorporated into this Resolution by reference.
Section 2. That the City Commission authorizes execution of a Third Amendment to
the Loan Agreement and Promissory Note to be executed by the Board of County
Commissioners of Broward County, Florida ("Board") and the Dania Beach Community
Redevelopment Agency Board ("CRA Board"), a copy of which is attached as Exhibit "D", and
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is made part of and incorporated into this Resolution by this reference; provided, however that no
agreement will be effective unless and until it has been executed by all parties.
Section 3. That the Loan Agreement and Promissory Note executed in connection
with the Interlocal Agreement, as amended, shall be amended and replaced in substantial form as
Exhibits "D", attached, which are approved and the proper City officials are authorized to
execute them.
Section 4. That the City Manager and City Attorney are authorized to make minor
revisions to the Agreement as are deemed necessary and proper for the best interest of the City.
Section 5. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 6. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED and ADOPTED on May 12, 2020.
ATTEST:
THOMAS SCHNEIDER, CMC F L E LLE
CITY CLERK �• ,y� MAYOR
getISH�
APPROVED AS TO FORM AND CORRECTNESS:
n
THOMA J. A
CITY WORNEY
4 RESOLUTION#2020-043
-''-- CFN# 109614750
OR BK 47410 Pages 1694-1730
RECORDED 09/30/10 04.53:49 PM
BROWARD COUNTY COMMISSION
DEPUTY CLERK 1016
#1,37 Pages
LOAN AGREEMENT
THIS LOAN AGREEMENT is made and entered into as of the 28 day of
ep��rnbet 2010, by and between the City of Dania Beach, Florida, a municipal
corporation under the laws of the State of Florida, whose post office address is 100
West Dania Beach Boulevard, Dania Beach, Florida 33304, and the Dania Beach
Community Redevelopment Agency, or its successor, a public body corporate and
politic ('Borrowers"), whose post office address is 100 West Dania Beach Boulevard,
Dania Beach, Florida 33304, and Broward County, Florida (the "Lender"), a political
subdivision of the State of Florida, whose post office address is 115 South Andrews
Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. Borrowers have submitted documentation to obtain County funding
through the Broward County Redevelopment Capital Program for funds for a portion of
a parking structure or garage, in support of private redevelopment, adjacent to the
Dania Beach City Hall and Library. The documentation supports funding for 190 spaces
of the parking garage structure, which spaces are in excess of the 250 spaces for
Library and City Hall uses, and which are expected to spur private redevelopment and
are at an actual cost of Two Million Five Hundred Ninety Thousand Nine Hundred Nine
and no/100 Dollars ($2,590,909.00) (based on the projected cost of Thirteen Thousand
Six Hundred Thirty-Six and 36/100 Dollars ($13,636.36) per space. The Lender has
agreed to make a Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00) loan ("the Parking Garage Loan" Or the "Loan") to the
Borrowers, which Loan shall be evidenced by a Promissory Note (the "Note") from
LOAN AGREEMENT
THIS LOAN AGREEMENT is made and entered into as of they day of
S��, 2010, by and between the City of Dania Beach, Florida, a municipal
corporation under the laws of the State of Florida, whose post office address is 100
West Dania Beach Boulevard, Dania Beach, Florida 33304, and the Dania Beach
Community Redevelopment Agency, or its successor, a public body corporate and
politic ("Borrowers"), whose post office address is 100 West Dania Beach Boulevard,
Dania Beach, Florida 33304, and Broward County, Florida (the "Lender"), a political
subdivision of the State of Florida, whose post office address is 115 South Andrews
Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. Borrowers have submitted documentation to obtain County funding
through the Broward County Redevelopment Capital Program for funds for a portion of
a parking structure or garage, in support of private redevelopment, adjacent to the
Dania Beach City Hall and Library. The documentation supports funding for 190 spaces
of the parking garage structure, which spaces are in excess of the 250 spaces for
Library and City Hall uses, and which are expected to spur private redevelopment and
are at an actual cost of Two Million Five Hundred Ninety Thousand Nine Hundred Nine
and no/100 Dollars ($2,590,909.00) (based on the projected cost of Thirteen Thousand
Six Hundred Thirty-Six and 36/100 Dollars ($13,636.36) per space. The Lender has
agreed to make a Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00) loan ("the Parking Garage Loan" or the "Loan") to the
Borrowers, which Loan shall be evidenced by a Promissory Note (the "Note") from
Borrowers in favor of Lender.
B. Lender is willing to provide such Loan to Borrowers upon the terms and
subject to the conditions set forth in the Dania Beach Interlocal Agreement, as amended
by the Fourth Amendment, which Fourth Amendment is attached hereto and made a
part hereof as Exhibit"A,"and the conditions hereinafter set forth.
C. Lender is willing to provide such Loan to Borrowers upon the condition
that the proceeds shall be used by Borrowers solely for the 190 spaces of the parking
garage structure, in excess of the 250 spaces required for Library and City Hall uses,
and as further provided and defined in the Fourth Amendment.
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements hereinafter set forth, the parties hereto do hereby agree as
follows:
1. Recitals. The Recitals hereinabove contained are true and correct and
are made a part hereof.
2. Loan. The Loan shall be evidenced by a Promissory Note (the "Note"), in
the form attached hereto as Exhibit "B." The Note shall be funded in one lump sum and
shall evidence the Loan. The proceeds of the Loan shall be used by Borrowers solely
for the actual costs of or the reimbursement thereof, the 190 spaces of the parking
garage structure in excess of the 250 spaces required for Library and City Hall uses, in
the amount of Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00), as provided for in Exhibit "A"attached hereto.
Lender shall provide a grant on the Parking Garage Loan up to the amount of the
original Parking Garage Loan if both of the following conditions are met: 1) the Parking
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Garage is completed within five (5) years from the effective date of the Fourth
Amendment to the Dania Beach Interlocal Agreement, or such lesser timeframe if any,
provided in the Library Agreement, and 2) the City/CRA demonstrates that the County's
share of the revenue generated by the net increase in the tax base due to specific
private redevelopment projects within the Dania Beach RCP Redevelopment Area
boundaries over twenty (20) years (measured from the effective date of the First
Amendment to the Dania Beach Interlocal Agreement, dated February 21, 2006) is
expected to equal or exceed the amount of the original Parking Garage Loan. If
conditions 1) and 2) above are met, the Parking Garage Loan shall convert to a grant
through formal request by the Borrowers in accordance with the terms outlined in
Exhibit"A" attached hereto.
3. Principal/Interest on the Loan. No payments of interest on or principal of
the Loan shall be due within the first five (5) years from the effective date of this Loan
Agreement. In the event that the Loan does not convert to a grant, because the
conditions stated in Section 2 hereinabove have not been met, the Parking Garage
Loan shall be repaid to the Redevelopment Capital Program by the Borrowers over a
fifteen (15) year period commencing at the end of the initial five (5) year interest-free
period, with the interest rate at the Municipal Market Data MMD "A" revenue bond rate
as in effect at the time repayment begins. In this case, the maturity date shall be twenty
(20) years or less from the effective date of this Loan Agreement. In no event shall the
term of the Loan exceed twenty (20)years: five (5) years interest free, and up to fifteen
(15) years at the MMD "A" revenue bond rate. One payment of principal and interest
shall be made on or before September 30t' of each year of the fifteen (15) year period,
3
commencing September 30, 2016. An equal amount of principal, plus the interest
accrued for the year, shall become payable on each September 30, commencing
September 30, 2016.
4. Defaults and Remedies. The occurrence of any one or more of the
following events shall constitute an event of default:
i. The proceeds of the Loan, in whole or any part thereof, are not used by
Borrowers for the specific purpose stated herein and in accordance with
the terms of Exhibit"A" hereto.
ii. Any representation or warranty made by the Borrowers in connection with
the making of the Loan by the Lender shall prove to be false or misleading
in any material respect.
iii. Failure to pay the amounts due under the Note, which failure shall
continue for a period of ten (10) days after notice thereof is provided to
Borrowers.
iv. Entry of a final judgment against Borrowers or their agents which
materially adversely affects the financial condition of the Borrowers and
remains unsatisfied after thirty (30) days of the same becoming final, or
the institution of any litigation against Borrowers or its agents which
contests the validity of the Fourth Amendment, this Loan Agreement or the
Promissory Note that is not dismissed or otherwise resolved within ninety
(90)days thereafter.
5. Remedies Upon Default. Should any one or more defaults occur or exist,
Lender shall in addition to such rights available to Lender pursuant to the terms of
4
H:)A3H AITA�
1'ON�ifA T.Zra,ujdvzcaFl YTIJNLMI4t00
Exhibit 'A," to wit: the Dania Beach Interlocal Agreement, as amended by the Fourth
Amendment thereto, have the right to accelerate the maturity of the entire principal
balance due under the Note and shall have the right, upon ten (10) days written notice,
to enforce collection of the entire indebtedness evidenced by the Note including interest,
cost and fees by and through any of the remedies herein contained, or by and through
any remedies afforded and permitted under the Note, the Uniform Commercial Code, or
the laws of the State of Florida. Failure to declare a default, or a failure or withholding
of any action to enforce collection of its obligation by virtue of such default, shall not
constitute a waiver of any such event of default on the part of Lender. Any waiver by
Lender of an event of default shall not be construed and shall not constitute a waiver of
any other or subsequent event of default, it being understood that each event of default
shall be and constitute a separate and independent event or act of default, for which
Lender may accelerate the indebtedness of Borrowers and, at its election and option,
proceed to enforce collection thereof.
All remedies and enforcement rights of the Lender shall be cumulative, and may
be pursued separately or together as against the Borrowers, and Lender may resort to
any one or more of the remedies afforded under this Loan Agreement, the Note, the
Uniform Commercial Code of Florida, or under the laws of Florida, neither to the
exclusion of the other.
6. Agreement to Pay Attorneys' Fees and Expenses. In the event the
Borrowers shall default under any of the provisions of this Loan Agreement and the
Lender should employ attorneys or incur other expenses for the collection of the
payments due under this Loan Agreement or the enforcement of performance or
5
observance of any obligation or agreement on the part of the Borrowers herein
contained, the Borrowers agree to pay to the Lender the reasonable fees and expenses
of such attorneys and such other expenses so incurred by the Lender.
7. Miscellaneous.
(a) Effective Date: Effective date of this Loan Agreement shall mean the date
upon which the last party to this Loan Agreement has executed same in
accordance with the formalities imposed upon such entity required by
Florida law.
(b) Notices. Notices shall be given by each party at the addresses set forth
below and shall be deemed to have been sufficiently given or served for
all purposes of the same as follows: All notices required to be given by
mail will be given by first class, registered or certified mail postage
prepaid, return receipt requested, or by private courier service which
provides evidence of delivery, or sent by facsimile which produces
evidence of transmission, confirmed by first class mail, postage prepaid,
and in each case shall be deemed to have been given on the date
evidenced by the postal or courier receipt or other written evidence of
delivery or electronic transmission, addressed in the manner aforesaid.
Any party may, by providing notice in the manner set forth in this section,
change its address for purposes of this section.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 S. Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and
6
Growth Management Department
Room 329B, Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: Dania Beach Community Redevelopment Agency
Executive Director
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
(b) Severability. If any provision of this Loan Agreement shall be held or
deemed to be, or shall in fact be, illegal, inoperative or unenforceable, the
same shall not affect any other provision or provisions herein contained or
render the same invalid, inoperative, or unenforceable to any extent
whatsoever.
(c) Execution of Counterparts. This Loan Agreement may be executed in
several counterparts each of which shall be an original and all of which
shall constitute but one and the same instrument.
(d) Governing Law. This Loan Agreement shall be governed exclusively by
and construed in accordance with the applicable laws of the State of
Florida. The venue for any proceeding hereunder shall be accorded
appropriate jurisdiction in Broward County, Florida.
7
(e) This Loan Agreement shall be binding upon, and shall inure to the benefit
of, the respective successors and assigns of the parties hereto.
8. Waiver of Jury Trial
Borrowers and Lender hereby knowingly, irrevocably, voluntarily and intentionally
waive any right to a trial by jury in respect of any action, proceeding, defense or
counterclaim based on this Loan Agreement, or arising out of, under or in connection
with this Loan Agreement, the Note, or any other security document, or any course of
conduct, course of dealing, statements (whether verbal or written) or actions of any
party hereto or to any security document. This provision is a material inducement for
Borrowers and Lender entering into the subject transaction.
THIS SPACE INTENTIONALLY LEFT BLANK
s
IN WITNESS WHEREOF, the Parties hereto have made and executed this Loan
Agreement on the respective dates under each signature: BROWARD COUNTY
through its BOARD OF COUNTY COMMISSIONERS, signing by and through its Mayor
or,Vice-Mayor, authorized to execute same by Board action on the 2� day of
2010; the CITY OF DANIA BEACH, signing by and through its
C duly authorized to execute same, and the DANIA BEACH
COMMUNI REDEVELOPMENT AGENCY, signing by and through its Chair, duly
authorized to execute same.
COUNTY
LENDER
ATTEST: s ,�,�,, --:,, RO1hARD OUNTY, through its
0) aFCTY CO ISSIO S
County Administrator anca"
Ex-Officio Clerk of the ; j M ar
Board of County Commissioners...
of Broward County, Florida,
` `dayof Q 4/y) &'2010
Approved as to form by
Office of County Attorney
Broward County, Florida
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Telecopier: (954) 357-6968
By
'4ie
Carl L. Kitchner
Assistant County Attorney
54ay of , 2010
9
LOAN AGREEMENT AMONG BROWARD COUNTY, CITY OF DANIA BEACH AND
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
BORROWERS
ATTEST: CITY OF ANIA BEACH, through its
BY
City Clerk City Manager
`tRsj CC/ day of 2010
Approved as to form:
By `
` asEa
City A orney
day of ,?E?/ZmL554, 2010
10
LOAN AGREEMENT AMONG BROWARD COUNTY, CITY OF DANIA BEACH AND
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
BORROWERS
WITNESSES: DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
By /Z-���
day of` � 7'4, 2010`'�
DANIA BEACH
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EXHIBIT "A"
FOURTH AMENDMENT TO DANIA BEACH INTERLOCAL AGREEMENT
This is the Fourth Amendment to the Dania Beach Interlocal Agreement ("Fourth
Amendment"), made this a'? day of S-o 2010, by and between the
following:
Broward County, Florida
a political subdivision of the State of Florida
(the "County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the "City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the "CRA").
WHEREAS, on April 20, 2004, the County, the City and the CRA entered into an
Interlocal Agreement ("Dania Beach Interlocal Agreement" or "Interlocal Agreement")
pursuant to which it was agreed that the County method of investment in any
redevelopment activities proposed by the City and/or the CRA, during the term of the
Interlocal Agreement and any amendments thereto, and pursuant to the adopted Dania
Beach Community Redevelopment Plan, would be implemented pursuant to the
requirements and criteria of the funding program, established by the County, known as
the Redevelopment Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Interlocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s);
WHEREAS, on February 21, 2006, the County, the City and the CRA entered
into the First Amendment to the Dania Beach Interlocal Agreement (the "First
Amendment"), pursuant to which the County agreed to fund by way of one or more
loans which, subject to the terms and conditions thereof, could be converted to grant(s),
for certain infrastructure improvements as described in the First Amendment within the
Dania Beach RCP Redevelopment Area up to the total amount of Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six Dollars ($6,345,866.00)from the
RCP; and
WHEREAS, the City and/or the CRA thereafter subsequently proceeded to
complete the infrastructure improvements identified in the First Amendment, utilizing its
own funds and other funding sources, and did not utilize any of the Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100 Dollars
($6,345,866.00)from the RCP committed under the First Amendment; and
WHEREAS, the City and the CRA then identified additional projects or
improvements to replace those identified in the First Amendment, and sought to utilize
the funds committed under the First Amendment for such purposes; and
WHEREAS, the City and the CRA then sought funding for the additional projects,
specifically, for the reimbursement of the costs of acquisition of the property commonly
known as Parcel 109, in the amount of Two Million Three Hundred Thirty-Four
Thousand Two Hundred and no/100 Dollars ($2,334,200.00) (the "Parcel 109
Reimbursement") and funding for a portion of a parking structure or garage, related to
new private redevelopment, in the amount not to exceed Three Million One Hundred
Thousand and no/100 Dollars ($3,100,000.00), adjacent to City Hall and the Library,
which funds are hereinafter referred to as the "Parking Garage Funds," together with
such future project(s) that would be the subject of future application(s) by the CRA to
the County and future amendments resulting therefrom, provided such future
amendments are executed on or before February 21, 2011, not to exceed the total sum
of Six Million Three Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100
Dollars ($6,345,866.00) contemplated by the First Amendment; and
WHEREAS, the County, the City, and the CRA, having negotiated the
parameters for such Parking Garage Funds and the terms and conditions thereof,
following Board approval on February 24, 2009, entered into the Second Amendment to
Dania Beach Interlocal Agreement (the "Second Amendment") to effectuate the same;
and
WHEREAS, pursuant to the Second Amendment, the Board approved funding
not to exceed Three Million One Hundred Thousand and no/100 Dollars
($3,100,000.00) to fund approximately 138 parking spaces, but not less than 125 nor
more than 175, in a parking structure/garage. The RCP funds were to be provided as a
five-year interest-free loan(s) which could convert to a grant(s) with conditions similar to
those for the Parcel 109 Reimbursement, which funding has been addressed in the
Third Amendment to the Dania Beach Interlocal Agreement (the "Third Amendment")
entered into on March 24, 2009, by and between the County, the City and the CRA; and
WHEREAS, the funding and implementation requirements of the Third
Amendment have been completed; and
2
WHEREAS, with respect to the Second Amendment, while the previously
approved funding was not to exceed Three Million One Hundred Thousand and no/100
Dollars ($3,100,000.00)for approximately 138 parking spaces, but not less than 125 nor
more than 175, in the parking structure/garage, which spaces were to be in addition to
the 250 spaces for use by the Library and City Hall, the CRA, on July 20, 2010, has now
requested RCP funding for an additional 15 spaces, which raises the total number of
spaces in support of private redevelopment from 175 to 190 spaces in a new parking
structure of 440 total spaces; and
WHEREAS, based upon the July 20, 2010 request of the CRA, the lower actual
cost of construction and the change to 440 parking spaces, the County has determined
that the City and the CRA have provided sufficient documentation to support a loan
convertible to a grant for the subject 190 parking spaces, based on similar loan-to-grant
conversion provisions, with a 5-year interest-free mechanism, to those already provided
in the First Amendment, the Second Amendment (Parking Garage Funds) and the Third
Amendment(Parcel 109 Reimbursement now completed); and
WHEREAS, based on the lower cost and change to the 440 parking spaces, the
proportional cost for the now 190 parking spaces is Two Million Five Hundred Ninety
Thousand Nine Hundred Nine and no/100 Dollars ($2,590,909.00), which amount will
be processed for disbursement by the County upon approval and execution of this
Fourth Amendment and contemporaneous execution of a Loan Agreement and
Promissory Note, based on the approved funding mechanism previously utilized in the
First, Second and Third Amendments; and
WHEREAS, on July 20, 2010, the CRA also requested RCP funding related to
the parking garage for a security system and gate-arm entry system; and
WHEREAS, the City and the CRA have provided sufficient documentation to
support a loan convertible to a grant for the subject security system in the amount of
One Hundred Forty Thousand and no/100 Dollars ($140,000.00), based on similar loan-
to-grant conversion provisions, with a 5-year interest-free mechanism, to those already
provided in the First Amendment, the Second Amendment (Parking Garage Funds) and
the Third Amendment (Parcel 109 Reimbursement now completed) and which amount
will be processed for disbursement by the County upon approval and execution of this
Fourth Amendment and contemporaneous execution of a Loan Agreement and
Promissory Note; and
WHEREAS, the County will not, to date, disburse any RCP funds for the gate-
arm entry system until the City and the CRA have provided sufficient documentation,
which documentation shall include executed contracts, to support a loan convertible to
a grant for the subject gate-arm entry system in an amount not to exceed Two Hundred
Seventy-Three Thousand Seven Hundred Ninety and no/100 Dollars ($273,790.00),
based on similar loan-to-grant conversion provisions, with a 5-year interest-free
mechanism, to those already provided in the First Amendment, the Second Amendment
3
(Parking Garage Funds) and the Third Amendment (Parcel 109 Reimbursement now
completed) and which amount will be processed for disbursement by the County upon
review of such documentation and execution of a Loan Agreement and Promissory
Note; and
WITNESSETH, that for and in consideration of the mutual covenants and
agreements contained herein, the County, the City and the CRA agree as follows:
1. The truth and accuracy of each 'WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
2. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.8 The total County funding amount from the Redevelopment Capital
Program payable to the CRA, for the Parcel 109 Reimbursement and
Parking Garage Funds, as redefined pursuant to this Fourth Amendment,
together with the security system and gate-arm entry system and such
future project(s) that will be the subject of future application(s) by the CRA
to the County and future amendments resulting therefrom, provided such
future amendments are executed on or before February 21, 2011, shall
not exceed the sum of Six Million Three Hundred Forty-Five Thousand
Eight Hundred Sixty-Six and no/100 Dollars ($6,345,866.00). All amounts
paid by the County shall continue to be deposited into the Redevelopment
Trust Fund established by the City or the CRA and expended solely as
authorized by the Act and the Interlocal Agreement, as amended.
3. Section 4 of the Dania Beach Interlocal Agreement, as created by paragraph 7 of
the First Amendment, and as further amended by the Second and Third
Amendments, and in addition and similar to the provisions of the Third
Amendment, is hereby further amended and supplemented to read, specifically
regarding the Parking Garage Funds pursuant to the provisions of the Second
Amendment, as follows:
4.0 COUNTY FUNDING OF INFRASTRUCTURE IMPROVEMENTS
4.1 The Parking Garage Funds, as defined in the Second Amendment
with funding for the actual cost not to exceed Three Million One
Hundred Thousand and no/100 Dollars ($3,100,000.00) for
approximately 138 spaces, but not less than 125 spaces nor more
than 175 spaces, which spaces are in addition to 250 spaces for
use by the Library and City Hall, are hereby redefined to include an
additional 15 spaces, which raises the total number of parking
spaces in support of private redevelopment from 175 to 190 spaces
in a parking structure of 440 spaces. Based on a lower per space
4
cost, the proportional cost of the 190 spaces is Two Million Five
Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00), which will be processed for disbursement by the
County upon approval of this Fourth Amendment and execution of
appropriate Loan Agreement(s) and Promissory Note(s). In
addition to this amount, the Parking Garage Funds shall include an
additional One Hundred Forty Thousand and no/100 Dollars
($140,000.00), requested by the City/CRA, for a security system for
the parking garage, to be processed for disbursement upon
approval of this Fourth Amendment and execution of appropriate
Loan Agreements) and Promissory Note(s). and further, an
amount equal to the actual cost not to exceed Two Hundred
Seventy-Three Thousand Seven Hundred Ninety and no/100
Dollars ($273,790.00) for a gate-arm entry system, to be disbursed
by the County after appropriate documentation is presented,
including a contract, duly reviewed by the County, together with
execution of an additional Loan Agreement(s) and Promissory
Note(s).
The differential between the initial County commitment for the
Parking Garage Funds of Three Million One Hundred Thousand
and no/100 Dollars ($3,100,000.00) and the funding for the now
redefined Parking Garage Funds totaling Three Million Four
Thousand Six Hundred Ninety-Nine and no/100 Dollars
($3,004,699.00), is Ninety-Five Thousand Three Hundred One and
no/100 Dollars ($95,301.00), which sum shall be added to the Nine
Hundred Eleven Thousand Six Hundred Sixty-Six and no/100
Dollars ($911,666.00) differential remaining after the Third
Amendment, totaling One Million Six Thousand Nine Hundred
Sixty-Seven and no/100 Dollars ($1,006,967.00), and shall be
available to the CRA for future projects that will be the subject of
future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future
amendments must be executed on or before February 21, 2011.
Should the actual cost of the gate-arm entry system be less than
the not to exceed amount of Two Hundred Seventy-Three
Thousand Seven Hundred Ninety and no/100 Dollars
($273,790.00), the difference will be added to the amount available
to the CRA for future proiects.
4.2 The County funding will be exercised as to the Parking Garage
Funds, as redefined herein, only after submission by the City and/or
CRA to the County of an application therefore, including an
implementation schedule and critical path timeline, which the
County acknowledges have been submitted.
5
County funding for any future public improvements will be exercised
only after submission by the City and/or CRA to the County of an
application and documentation therefore, including an
implementation schedule and critical path timeline.
4.3 In addition to the provisions of the Third Amendment for the Parcel
109 Reimbursement, tThe County will lend the actual cost not to
exceed $3,100:990 Three Million Four Thousand Six Hundred
Ninety-Nine and no/100 Dollars ($3,004,699.00), for ne-less-than
190 spaces of all spaces in
the Parking Garage in excess of 250 spaces, at a projected cost of
$22,463.7-:7 Thirteen Thousand Six Hundred Thirty-Six and 36/100
Dollars ($13,636.36) per space, a security system and a gate-arm
entry system, as more fully provided in the Applisatien
documentation submitted therefore.
4.4
eempleteness, and a mutually asseptable loan agTeemeflf
The County loan(s) of the Parking Garage Funds for the 190
parking spaces ($2,590,909) and the security system ($140,000.00)
shall be processed for disbursement within thirty (30) days of
execution of this Fourth Amendment, Loan Agreement(s), and
Promissory Note(s) by appropriate parties thereto, and the not to
exceed amount of Two Hundred Seventy-Three Thousand Seven
Hundred Ninety and no/100 Dollars ($273,790.00) for the gate-arm
entry system will be disbursed when appropriate documentation is
submitted, duly reviewed by the County, and a Loan Agreement
and Promissory Note are executed.
4.7 In addition and similar to the provisions of the Third Amendment for
the Parcel 109 Reimbursement loan, Section 4.7 of the Second
Amendment related to the Parking Garage Funds is amended as
follows.
The County shall provide a granter on the Parking Garage Funds,
as redefined herein, loanW up to the amountUs of the original
Parking Garage Funds loan(s) if both of the following conditions are
met: 1)all Parking Garage improvements (parking garage, security
system, and gate-arm entry system) associated with the loan(s) are
completed within five (5) years from the effective date of this
6
Seeend Fourth Amendment or lesser timeframe, if any, provided in
the Library Agreement, and 2) the City/CRA demonstrates that the
County's share of the revenue generated by the net increase in the
tax base due to specific private redevelopment projects within the
Dania Beach RCP Redevelopment Area boundaries over 20 years
(measured from the effective date of the First Amendment dated
February 21, 2006) is expected to equal or exceed the amount of
the original Parking Garage Funds loan(s).
4.7.1 If conditions 1) and 2) of Section 4.7 are met, the Parking
Garage Funds loan(s) shall convert to a grant(s), through
formal request by the City/CRA, as follows: 1) one-third of
the amount of the loan(s) or one-third of the County's share
of the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
approval of the requisite permitting for the private
redevelopment project(s), and appropriate documentation of
the completion of the associated Parking Garage
improvements (parking garage security system and gate-
arm entry system); 2) an additional one-third of the amount
of the loan(s) or one-third of the County's share of the
revenue generated by the expected net increase in the tax
base due to specific private redevelopment project(s),
whichever is less, will convert to grant(s) at the time when
the City/CRA provides documentation to the County that
50% of the total project floors are erected; and, 3) the
remaining one-third of the amount of the loan(s) or one-third
of the County's share of the revenue generated by the
expected net increase in the tax base due to specific private
redevelopment project(s), whichever is less, will convert to a
grant(s) at the time of the completion of the private
redevelopment project(s) evidenced by the issuance of all
applicable Certificates of Occupancy.
4.8 In addition and similar to the provisions of the Third Amendment
Section 4.8 of the Second Amendment is amended as follows
If conditions 1) and 2) of Section 4.7 herein are not met, the
Parking Garage Funds loan(s), as redefined by this Fourth
Amendment, must be repaid to the Redevelopment Capital
Program by the City or CRA over a 15-year period commencing at
the end of the initial five-year interest-free period, as-provided-f
, with interest at the Municipal Market Data
(MMD) "A" revenue bond rate as in effect at the time repayment
begins. In no event shall the term of the loan(s) exceed twenty (20)
7
years: five years interest free, and up to 15 years at the MMD "A"
revenue bond rate.
4.9 In no event shall the total amount of County grant(s) and loan(s) for
the Parcel 109 Reimbursement, Parking Garage Funds, as
redefined by this Fourth Amendment , and any future project(s) that
will be the subject of future application(s) by the CRA to the County
and future amendments resulting therefrom, which must be
executed on or before February 21, 2011, exceed Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100
Dollars $6,345,866.00 .
4.11 In ad-d-ifien to the pFevisions of the R-en-a-nd- Amendment as
The calculation of
the net increase in the tax base over 20 years, which is Condition 2
of Section 4.7 herein, is as follows:
4.11.1 The net present value of the County's share of the revenue
generated by the net increase in the tax base from all private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries shall be calculated based
on the following parameters:
Estimated Project Value: Project costs (Land & Improvements)
Property Assessment Rate: 85% of Project Cost
Collection Rate: 95%
Property Appreciation Rate: 4%
Payback Term: 20 Years from the effective date of the
First Amendment, February 21, 2006,
but may be less than 20 years
depending on the year the private
redevelopment project(s) become
part of the tax base.
County Millage: Effective County Millage at the time of
grant consideration
Discount Rate: The interest rate from the table of "A"
General Obligation yields produced
by "Municipal Market Data" and
8
published in the Bond Buyer for the
20-year maturity in the proposed
project financing or funding plan. The
actual rate used shall be the interest
rate published within five (5) days
prior to the date of submittal of the
request for grant funds by the
City/CRA to the County.
4.11.2 The net increase in the tax base is the difference between
the assessed (85%) value of the various redevelopment
projects including land and improvements, and the taxable
value of the existing property including land and
improvements . If a
property was acquired by the County, the City or the CRA for
the purpose of redevelopment, within the last 4 years, the
taxable value will be the latest available taxable value
increased annually by the growth in the tax base within the
Dania Beach RCP Redevelopment Area.
4. Section 5 of the Dania Beach Interlocal Agreement, as created by paragraph 8 of
the First Amendment, and further amended by paragraph 5 of the Second and
Third Amendments, shall remain unchanged and its provisions fully applicable to
this Fourth Amendment.
5. Section 6 of the Dania Beach Interlocal Agreement, as created by paragraph 9 of
the First Amendment and amended by paragraph 6 of the Second and Third
Amendments, shall remain unchanged and its provisions fully applicable to this
Fourth Amendment.
6. Section 4.0, MISCELLANEOUS of the Dania Beach Interlocal Agreement, as
amended by paragraph 10 of the First Amendment and paragraph 7 of the
Second and Third Amendments, as applicable to this Fourth Amendment, is
hereby amended to read as follows:
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this d Fourth Amendment
shall be on the date it is fully executed by the parties.
7.2 Joint Preparation: The preparation of this Th6Fd Fourth Amendment
has been a joint effort of the Parties hereto and the resulting
document shall not, solely as a matter of judicial construction, be
construed more severely against one of the Parties than the other.
9
7.3 Merger: The Dania Beach Interlocal Agreement, as amended,
incorporates and includes all prior negotiations, correspondence,
agreements or understandings applicable to the matter contained
herein; and the Parties agree that there are no commitments,
agreements, or understandings concerning the subject matter of
this Interlocal Agreement, as amended, that are not contained in
this document. Accordingly, the Parties agree that no deviation
from the terms hereof shall be predicated upon any prior
representations or agreements, whether oral or written. It is further
agreed that no change, amendment, alteration or modification in
the terms and conditions contained herein shall be effective unless
contained in a written document executed with the same formality
and of equal dignity herewith by all Parties to the Dania Beach
Interlocal Agreement, as amended.
7.4 Assignment:ment: The respective obligations of the Parties set forth in
the Dania Beach Interlocal Agreement, as amended, shall not be
assigned, in whole or in part, without the written consent of the
other party.
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of this Third Fourth
Amendment, by the governing body of the City/CRA and the
County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file the Dania
Beach Interlocal Agreement, and amendments thereto, with the
Clerk of Broward County, Florida, as required by Section
163.01(11), Florida Statutes.
7.6 Contract Administrators: The Contract Administrators for the Dania
Beach Interlocal Agreement and amendments thereto are the
Dania Beach City Manager, or designee, and the County
Administrator, or designee. In the implementation of the terms and
conditions of the Dania Beach Interlocal Agreement, as amended,
as contrasted with matters of policy specifically established by the
respective commissioners through resolutions and/or ordinances,
all parties may rely upon instructions or determinations made by the
respective Contract Administrators.
7.7 Notices: Whenever either party desires to give notice to the other,
such notice must be in writing and sent by United States mail,
return receipt requested, courier evidenced by a delivery receipt,
facsimile evidenced by a delivery receipt, or by an overnight
express delivery service evidenced by a delivery receipt, addressed
10
to the party for whom it is intended at the place last specified; and
the place for giving notice shall remain such until it shall have been
changed by written notice in compliance with the provisions of this
section. For the present, the Parties designate the following as the
respective places for giving notice. Notice shall be effective upon
delivery as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and Growth
Management Department
Room 329B, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33304
7.8. Governing Law and Venue: The Dania Beach Interlocal Agreement
and amendments thereto shall be governed, construed and
controlled according to the laws of the State of Florida without
regard to its conflict of laws provision. Any claim, objection or
dispute arising out of the terms of the Dania Beach Interlocal
Agreement and amendments thereto shall be litigated in the
Seventeenth Judicial Circuit in and for Broward County, Florida.
7.9 Severability: In the event a portion of the Dania Beach Interlocal
Agreement and amendments thereto is found by a court of
competent jurisdiction to be invalid, the remaining provisions shall
continue to be effective unless the City and/or the CRA or the
County elect to terminate the Dania Beach Interlocal Agreement.
11
An election to terminate the Dania Beach Interlocal Agreement, as
amended, based upon this provision shall be made within seven (7)
calendar days after the court's determination becomes final. For
the purposes for this section, "final" shall mean the expiration of
time within which to file an appeal or the conclusion of any
appellate proceeding and the granting of an order. In such event,
the Parties agree to cooperate fully with the other to effectuate a
smooth transaction of services.
7.10 Amendments: Except as expressly authorized in the Dania Beach
Interlocal Agreement or amendments thereto, no modification,
amendment, or alteration in the terms or conditions contained
herein shall be effective unless contained in a written document
prepared with the same or similar formality as the Dania Beach
Interlocal Agreement and executed by the Parties.
7.11 Third Party Beneficiaries: Neither City, County nor CRA intend that
any person shall have cause of action against either of them as a
third party beneficiary under the Dania Beach Interlocal Agreement
or amendments thereto. Therefore, the Parties agree that there are
no third party beneficiaries to the Dania Beach Interlocal
Agreement and that no third party shall be entitled to assert a claim
against either of them based upon the Dania Beach -Interlocal
Agreement or amendments thereto. The Parties expressly
acknowledge that it is not their intent to create any rights or
obligations in any third person or entity under the Dania Beach
Interlocal Agreement or amendments thereto.
7.12 Force Maieure: Unless otherwise governed by the Dania Beach
Interlocal Agreement or amendments thereto, or by federal or state
law or regulations, neither party shall be obligated to perform under
the Dania Beach Interlocal Agreement or amendments thereto, if
such performance is prevented by fire, hurricane, earthquake,
explosion, wars, sabotage, accident, flood, act of God, riot or civil
commotion, or by reason of any other matter or condition beyond
the control of either party, and which cannot be overcome by
reasonable diligence and without unusual expense. In no event
shall lack of funds on the part of either party be deemed Force
Majeure. Either party desiring to rely upon such a cause shall,
when the cause arises, give prompt written notice thereof to the
other party and, when the cause ceases to exist, shall give prompt
written notice thereof to the other party. Both parties agree to use
their best efforts to minimize the effects of such cause that would
give rise to the operation of this provision.
12
7.13 Nondiscrimination: The decision of the Parties hereto regarding the
delivery of services under the Dania Beach Interlocal Agreement or
amendments thereto, shall be made without regard to or
consideration of race, age, religion, color, gender, sexual
orientation (Broward County Code, Chapter 161/2), national origin,
marital status, physical or mental disability, political affiliation, or
any other factor which cannot be lawfully used as a basis for
service delivery.
7.14 Gender: Whenever any words are used in the Dania Beach
Interlocal Agreement or amendments thereto, in the masculine
gender, they shall be construed as though they were also used in
the feminine or neuter gender in all situations where they would so
apply, and whenever any words are used in this Interlocal
Agreement or amendments thereto in the singular form, they shall
be construed as though they were also used in the plural form in all
situations where they would so apply.
7.15 The Parties shall not engage in or commit any discriminatory
practice in violation of the Broward County Human Rights Act
(Broward County Code, Chapter 16'/2) in performing any services
pursuant to this Interlocal Agreement or amendments thereto.
7.16 The Parties agree that an extraordinary majority vote (4/5) of the
Dania City Commission and the CRA, as applicable, shall be
required in order to institute any eminent domain proceeding or to
acquire any property exceeding the appraised value within the
Community Redevelopment area.
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this T444 Fourth Amendment to the original
Dania Beach Interlocal Agreement and the original Dania Beach
Interlocal Agreement, First Amendment Gis Second Amendment or
Third Amendment thereto, the terms and provisions of this Third
Fourth Amendment shall control to the extent of any such conflict or
ambiguity.
7.18 That the original Dania Beach Interlocal Agreement, as amended
by the First Amendment, Second Amendment and, Third
Amendment and Fourth Amendment thereto, executed by the
Parties shall remain in full force and effect except as specifically
amended herein.
7.19 This Fourth Amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
13
7.20 The City and/or the CRA shall reasonably encourage the
participation of, and utilization of, small and minority businesses,
specifically, but not limited to, a financial advisor, bond counsel,
underwriters' counsel and underwriting services in the development
of the redevelopment projects of the City.
(Remainder of nape intentionally left blank)
14
IN WITNESS WHEREOF, the Parties hereto have made and executed this
FOURTH AMENDMENT to the Interlocal Agreement on the respective dates under
each signature: BROWARD COUNTY through its BOARD OF COUNTY
COMMISSIONERS, signing by and through its Ma yor or Vicg Mayor, authorized to
execute same by Board action on the 23 day of Se -le fy1 b pr .. , 2010; and
the CITY OF DANIA BEACH, signing by and through its Mayor, duly authorized to
execute same and the DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY,
signing by and through its Chair, duly authorized to execute same.
COUNTY
ATTEST: BROWARD OUNTY, through its
BOARD O COU COMM SI RS
r. e
411� r}m�. 'N'
County Administratoe ,.�...o,��`�~�; �By
Ex-Officio Clerk of kAgo Mayor
of County Commissli5n�rs'.pf'.r
Broward County
day of C)J)L�/Y) LGA, , 2010
Approved as to form by:
; ,:,.,•L `° Office of County Attorney
Broward County, Florida
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Facsimile: (954) 357-6968
i� � .
By (��
Assistant Co my Attorney
I J/N day of ' 2010
15
FOURTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD
COUNTY, CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
B
City Clerk y.r
day of
2010
Approved as to form:
bty WnKger
B
City Attorney
144 day of 2010
FOURTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD
COUNTY, CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES:
DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
Manager
-�� By
Chairman
City Clerk
14 day of �c � , 2010
Approved as to form:
DANIA BEACH
COMMUNITY REDEVELOPMENT AGENCY
By 6
.-
, City Attorney
l4 day of SET'775,WL� , 2010
CLK/It
#10-037
09/10/10
G:\DIV2\CLK\CLK10\Agreements\Dania Beach CRA Fourth Amendment 090910.Doc
17
EXHIBIT "B"
U.S. $2,590,909.00 Fort Lauderdal , Florida
September 6, 2010
PROMISSORY NOTE
FOR VALUE RECEIVED the undersigned, the CITY OF DANIA BEACH,
FLORIDA, a municipal corporation under the laws of the State of Florida, and the
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, or its successor, a public
body corporate and politic ('BORROWERS"), promise to pay to the order of BROWARD
COUNTY, FLORIDA, a political subdivision of the State of Florida (the "LENDER")
located at Governmental Center, 115 South Andrews Avenue, Fort Lauderdale, Florida
33301, the principal sum of Two Million Five Hundred Ninety Thousand Nine Hundred
Nine and no/100 DOLLARS ($2,590,909.00), (the "Principal") plus interest (the
"Interest") on the Principal after the end of the initial five (5) year interest-free period as
defined in Section two (2) below:
So long as no default has occurred in the Note, Interest shall be payable at the
Municipal Market Data MMD "A" revenue bond rate as in effect at the time repayment
begins. Upon default in this Note, Interest shall be payable at the per annum rate of
eighteen percent (18%). Interest shall accrue and be payable on an actual 360-day
basis.
1) This Note evidences a Loan by LENDER to BORROWERS for the sole
purpose of funding through the Broward County Redevelopment Capital Program for
funds for 190 spaces of the parking garage structure, in support of private
redevelopment, which spaces are in excess of the 250 spaces for Library and City Hall
uses, and which are expected to spur private redevelopment and are at an actual cost
- 1 -
of Two Million Five Hundred Ninety Thousand and Nine Hundred and Nine
($2,590,909.00) Dollars, based on a projected cost of Thirteen Thousand Six Hundred
Thirty-Six and 36/100 ($13,636.36) per space.
2) This Note evidences a Loan by LENDER to BORROWERS upon the
terms and subject to the terms and conditions set forth in the Dania Beach Interlocal
Agreement, as amended by the Fourth Amendment, which Fourth Amendment is
attached and made a part hereof as Exhibit "A" to the Loan Agreement accompanying
this Note.
3) The outstanding principal of the Note shall be due and payable as follows:
a) No payments of interest or principal of the Loan shall be due within
the first five (5) years from the effective date of this Note. In the
event that the Loan does not convert to a grant because the
conditions stated in Section 2 of the Loan Agreement have not
been met, the Loan shall be repaid over to the LENDER by the
BORROWERS over a fifteen (15) year period commencing at the
end of the initial five (5) year interest free period, with the interest
rate at the Municipal Market Data MMD "A" revenue bond rate as in
effect at the time repayment begins. In this case, the maturity date
shall be twenty (20) years or less from the effective date of this
Promissory Note and the accompanying Loan Agreement. In no
event, shall the term of the Loan exceed twenty (20) years; five (5)
years interest free, and up to fifteen (15) years at the MMD "A"
revenue bond rate. One payment of Principal and Interest shall be
-2-
made on or before September 30th of each year of the fifteen (15)
year period, commencing September 30, 2016. An equal amount
of Principal, plus the interest accrued for the year, shall become
payable on each September 30, commencing September 30, 2016.
b) This Note may be prepaid in whole or in part without penalty. Any
prepayment shall be accompanied by an amount equal to the
interest accrued thereon to the date of receipt of such prepayment
in collected funds.
4) All payments hereunder shall be made to LENDER's office at: Broward
County Environmental Protection and Growth Management Department, 115 South
Andrews Avenue, Room 329B, Fort Lauderdale, Florida, 33301, or such other place as
LENDER may from time to time designate in writing.
5) This Note shall be in default if any payment of Principal or Interest due
hereunder, and/or under the Loan Agreement, dated as of the date of this Note, from
BORROWERS to LENDER, is not paid as and when due, or if any event of default
occurs simultaneously, as such term is defined in the accompanying Loan Agreement
being entered into hereto. Upon default in this Note, the LENDER, at its option, may
declare the entire unpaid Principal balance of this Note, together with accrued Interest,
to be immediately due and payable without notice or demand. In addition to payments
of Interest and Principal, if there is a default in this Note, the LENDER shall be entitled
to recover from the BORROWER all of the LENDER's costs of collection, including the
LENDER's attorneys' fees and expenses (whether for services incurred in collection,
litigation, or otherwise), and all other costs incurred in connection therewith.
-3-
6. BORROWERS severally, irrevocably and unconditionally agree:
(a) that any suit, action or other legal proceeding arising out of or
relating to this Note may be brought at the option of the LENDER,
in a court of record of the State of Florida in Broward County, in the
United States District Court for the Southern District of Florida or in
any other court of competent jurisdiction; and
(b) consent to the jurisdiction of each such court in any such suit,
action or proceeding; and
(c) waive any objection which it or they may have to the loss of
revenue of any such suit, action or proceeding in any such courts.
7. All remedies and enforcement rights of the LENDER shall be cumulative,
and may be pursued separately or together as against the BORROWERS and LENDER
may resort to any one or more of the remedies afforded under this Note or Loan
Agreement, the Uniform Commercial Code of Florida, or under the laws of Florida,
neither to the exclusion of the others.
8. BORROWERS AND LENDER HEREBY KNOWINGLY, IRREVOCABLY,
VOLUNTARILY AND INTENTIONALLY WAIVE ANY RIGHT TO A TRIAL BY JURY IN
RESPECT OF ANY ACTION, PROCEEDING, DEFENSE OR COUNTERCLAIM
BASED ON THE NOTE OR ACCOMPANYING LOAN AGREEMENT, OR ARISING
OUT OF, UNDER OR IN CONNECTION WITH THE LOAN AGREEMENT, THIS NOTE,
OR ANY OTHER SECURITY DOCUMENT TO, OR ANY COURSE OF CONDUCT,
COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR
ACTIONS OF ANY PARTY HERETO OR TO ANY SECURITY DOCUMENT. THIS
-4 -
PROVISION IS A MATERIAL INDUCEMENT FOR BORROWERS AND LENDER
ENTERING INTO THE SUBJECT TRANSACTION.
THIS SPACE INTENTIONALLY LEFT BLANK
-5-
IN WITNESS WHEREOF, BORROWERS, CITY OF DANIA BEACH, FLORIDA,
and DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, have executed this
Note.
BORROWERS
WITNESSES: CITY OF DANIA BEACH, FLORIDA
Print Name: C�\r, s ; A. L-**4,`er rint Name:CNgXL,6s } . McZL)t-q
Prin Name: /ijj �yf� SSA'
STATE OF FLORIDA )
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me this day of
2010, by I lhe9L as
�t�? , who is personally know to me or w o has produced
as identi i -
tiO�tSESt/ ��i, Print Name:
0�'�83/p�%'s�2�' Notary Public, State of Florida at Large
Commission No.
My Commission Ex ; ODD
- 6 -
BORROWERS
WITNESSES: DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
Print Name: ,r: L A4, rint Name: -
Pri t Name: 1-i.,
STATE OF FLORIDA )
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me this � day of
i rnL3 '� 2010, by 74-4f� A - 417C EL E as
O-N ,iz,r,Ate) who is ersonally known o me or who has produced
as identific
,,.�N E S7%(��pzry� Print Name:
�'\X......... � Notary Public, State of Florida at Large
�` y tq� A,.q•; r Commission No.
My CommissiKAxpaii,62o
'09` l Q`
ST
Illltl li4
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CFN# 109894015
OR BK 47745 Pages 1000-1125
RECORDED 02,25111 03,51.51 PM
BROWARD COUNTY COMMISSION
DEPUTY CLERK 1037
FIRST AMENDMENT TO LOAN AGREEMENT #2,126 Pages
THIS FIRST AMENDMENT TO LOAN AGREEMENT is made and entered into
as of the S-:46 day of ��—, 20-1-011, by and between the City of Dania
Beach, Florida, a municipal corporation under the laws of the State of Florida, whose
post office address is 100 West Dania Beach Boulevard, Dania Beach, Florida 33304
33004, and the Dania Beach Community Redevelopment Agency, or its successor, a
public body corporate and politic ("Borrowers"), whose post office address is 100 West
Dania Beach Boulevard, Dania Beach, Florida 33304 33004, and Broward County,
Florida (the "Lender"), a political subdivision of the State of Florida, whose post office
address is 115 South Andrews Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. Borrowers have submitted documentation to obtain County funding
through the Broward County Redevelopment Capital Program foF funds for a portion of
a parking structure or garage, in support of private redevelopment, adjacent to the
Dania Beach City Hall and Library. The documentation supports funding for 190 spaces
of the parking garage structure, which spaces are in excess of the 250 spaces for
Library and City Hall uses, and which are expected to spur private redevelopment and
are at an actual cost of Two Million Five Hundred Ninety Thousand Nine Hundred Nine
and no/100 Dollars ($2,590,909.00) (based on the projected cost of Thirteen Thousand
Six Hundred Thirty-six and 36/100 Dollars ($13,636.36) per space),. The Lender has
agreed to make a Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00) loan ("the Parking Garage Loan" or the "Loan") to the
Borrowers, which Loan shall be evidenced by a Promissory Note (the "Note") from
CLA
FIRST AMENDMENT TO LOAN AGREEMENT
THIS FIRST AMENDMENT TO LOAN AGREEMENT is made and entered into
as of the day of 204.911, by and between the City of Dania
Beach, Florida, a municipal corporation under the laws of the State of Florida, whose
post office address is 100 West Dania Beach Boulevard, Dania Beach, Florida 33304
33004, and the Dania Beach Community Redevelopment Agency, or its successor, a
public body corporate and politic ("Borrowers"), whose post office address is 100 West
Dania Beach Boulevard, Dania Beach, Florida 33304 33004, and Broward County,
Florida (the "Lender"), a political subdivision of the State of Florida, whose post office
address is 115 South Andrews Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. Borrowers have submitted documentation to obtain County funding
through the Broward County Redevelopment Capital Program feF funds for a portion of
a parking structure or garage, in support of private redevelopment, adjacent to the
Dania Beach City Hall and Library. The documentation supports funding for 190 spaces
of the parking garage structure, which spaces are in excess of the 250 spaces for
Library and City Hall uses, and which are expected to spur private redevelopment and
are at an actual cost of Two Million Five Hundred Ninety Thousand Nine Hundred Nine
and no/100 Dollars ($2,590,909.00) (based on the projected cost of Thirteen Thousand
Six Hundred Thirty-six and 36/100 Dollars ($13,636.36) per spacel. The Lender has
agreed to make a Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00) loan ("the Parking Garage Loan" or the "Loan") to the
Borrowers, which Loan shall be evidenced by a Promissory Note (the "Note") from
Borrowers in favor of Lender.
B. Lender is willing to provide such Loan to Borrowers upon the terms and
subject to the conditions set forth in the Dania Beach Interlocal Agreement, as amended
by the FzeuFth Amendment, which FeuFth Amendment is Interlocal Agreement and
Amendments are attached hereto and made a part hereof as Exhibit "A," and the
conditions hereinafter set forth.
C. Lender is willing to provide such Loan to Borrowers upon the condition
that the proceeds shall be used by Borrowers solely for the 190 spaces of the parking
garage structure, in excess of the 250 spaces required for Library and City Hall uses,
and as further provided and defined in the Fourth Amendment and Fifth Amendment to
the Dania Beach Interlocal Agreement.
D. Borrowers and Lender, pursuant to the Fifth Amendment to the Dania
Beach Interlocal Agreement, have further agreed to include and clarify how the original
Loan can convert to a grant(s), in whole or in part, in the event that the County's share
of the expected revenue generated by the net increase in the tax base from specific
Private redevelopment proiect(s) is less than the original loan amount, due to either
partial completion of a specific private redevelopment project(s), or completion of a
specific private redevelopment proiect(s) that does not generate expected Countx
revenue equal to the full amount of the original Loan. Borrowers shall make formal
request to the Lender for a loan-to-grant conversion(s) and provide sufficient
documentation to support a loan-to-grant conversion(s).
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements hereinafter set forth, the parties hereto do hereby agree as
2
follows:
1. Recitals. The Recitals hereinabove contained are true and correct and
are made a part hereof.
2. Loan. The Loan shall be evidenced by a Promissory Note (the "Note"), in
the form attached hereto as Exhibit"B." The Note shall be funded in one lump sum and
shall evidence the Loan. The proceeds of the Loan shall be used by Borrowers solely
for the actual costs of or the reimbursement thereof, the 190 spaces of the parking
garage structure in excess of the 250 spaces required for Library and City Hall uses, in
the amount of Two Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2,590,909.00), as provided for in Exhibit "A" attached hereto.
Lender shall provide a grant on the Parking Garage Loan up to the amount of the
original Parking Garage Loan if both of the following conditions are met: 1) the Parking
Garage is completed within five (5) years from the eEffective dDate of the Fourth
Amendment to the Dania Beach Interlocal Agreement, or such lesser timeframe if any,
provided in the Library Agreement (it being acknowledged that completion of the parking
garage has already occurred), and 2) the City/CRA demonstrates that the County's
share of the revenue generated by the net increase in the tax base due to specific
private redevelopment projects within the Dania Beach RCP Redevelopment Area
boundaries over twenty (20) years (measured from the effective date of the First
Amendment to the Dania Beach Interlocal Agreement, dated February 21, 2006) is
expected to equal or exceed the amount of the original Parking Garage Loan. If
conditions 1) and 2) above are met, the Parking Garage Loan shall convert to a grant
through formal request by the Borrowers in accordance with the terms outlined in
3
Exhibit "A" attached hereto. -
If condition 1) in the above paragraph and pursuant to Exhibit "A" is met but with
respect to condition 2) referenced, the County's share of the revenue -generated by the
net increase in the tax base due to specific private redevelopment project(s) is expected
to be less than the full amount of the original Loan due to either completion of only a
portion of said proiect(s), or completion of a specific private redevelopment proiect(s)
that does not generate expected County revenue equal to the full amount of the original
Loan, a "partial" loan-to-grant conversion may take place for an amount that is expected
to equal the Countv's share of the revenue generated by the net increase in the tax
base due to said completed portions of proiect(s).
If a "partial" loan-to-grant conversion(s) takes place, the resulting amended loan
amount will be the difference between the full amount of the original Loan and the
partial loan amount(s) converted to a grant(s). A loan-to-grant conversion for the full
amount of the original Loan also may occur with one payment at the time of completion
of the private redevelopment proiect(s) with appropriate Certificate of Occupancy
documentation. "Full" or partial" loan-to-grant conversion(s) of the original Loan may
also occur at any time during the term of the original Loan. However, if any loan-to-grant
conversion(s) occurs after the 5-year interest-free period and repayment has begun as
defined in Section 3 hereinbelow, the amount available for conversion to a grant(s) is
the outstanding loan balance (defined as the original Loan less any conversions and
repayments) at the time of conversion, and interest accrued to that date shall be paid to
the County. All interest paid shall be retained by County.
3. Principal/Interest on the Loan. No payments of interest on or principal of
4
the Loan, or amendments thereof, shall be due within the first five (5) years from the
eEffective dDate of#his the original Loan Agreement, dated September 28, 2010. In the
event that the original Loan, or amended Loan, does not convert to a grant, because the
conditions stated in Section 2 hereinabove have not been met, the Parking Garage
Loan shall be repaid to the Redevelopment Gapital PF9gFaFn Lender by the Borrowers
over a fifteen (15) year period commencing at the end of the initial five (5) year interest-
free period, with the interest rate at the Municipal Market Data MMD "A" revenue bond
rate as in effect at the time repayment begins. In this case, the maturity date shall be
twenty (20) years or less from the eEffective dDate of this the original Loan Agreement.
In no event shall the term of the original or amended Loan exceed twenty (20) years:
five (5) years interest_ free, and up to fifteen (15) years at the MMD "A" revenue bond
rate. One payment of principal and interest shall be made on or before September 30tn
of each year of the fifteen (15) year period, commencing September 30, 2016. An equal
amount of principal, plus the interest accrued for the year, shall become payable on
each September 30, commencing September 30, 2016.
4. Defaults and Remedies. The occurrence of any one or more of the
following events shall constitute an event of default:
i. The proceeds of the Loan, as amended, in whole or any part thereof, are
not used by Borrowers for the specific purpose stated herein and in
accordance with the terms of Exhibit"A" hereto.
ii. Any representation or warranty made by the Borrowers in connection with
the making of the Loan,as amended, by the Lender shall prove to be false
or misleading in any material respect.
5
iii. Failure to pay the amounts due under the Note, which failure shall
continue for a period of ten (10) days after notice thereof is provided to
Borrowers.
iv. Entry of a final judgment against Borrowers or their agents which
materially adversely affects the financial condition of the Borrowers and
remains unsatisfied after thirty (30) days of the same becoming final, or
the institution of any litigation against Borrowers or its agents which
contests the validity of the Fewth Amendmen Dania Beach Interlocal
Agreement, as amended, this Loan Agreement, as amended, or the
Promissory Note that is not dismissed or otherwise resolved within ninety
(90) days thereafter.
5. Remedies Upon Default. Should any one or more defaults occur or exist,
Lender shall in addition to such rights available to Lender pursuant to the terms of
Exhibit 'A," to wit: the Dania Beach Interlocal Agreement, as amended by the Few
Amendment theFe+^ have the right to accelerate the maturity of the entire principal
balance due under the Note and shall have the right, upon ten (10) days written notice,
to enforce collection of the entire indebtedness evidenced by the Note including interest,
cost and fees by and through any of the remedies herein contained, or by and through
any remedies afforded and permitted under the Note, the Uniform Commercial Code, or
the laws of the State of Florida. Failure to declare a default, or a failure or withholding
of any action to enforce collection of its obligation by virtue of such default, shall not
constitute a waiver of any such event of default on the part of Lender. Any waiver by
Lender of an event of default shall not be construed and shall not constitute a waiver of
6
any other or subsequent event of default, it being understood that each event of default
shall be and constitute a separate and independent event or act of default, for which
Lender may accelerate the indebtedness of Borrowers and, at its election and option,
proceed to enforce collection thereof.
All remedies and enforcement rights of the Lender shall be cumulative, and may
be pursued separately or together as against the Borrowers, and Lender may resort to
any one or more of the remedies afforded under this Loan Agreement, as amended, the
Note, the Uniform Commercial Code of Florida, or under the laws of Florida, neither to
the exclusion of the other.
6. Agreement to Pay Attorneys' Fees and Expenses. In the event the
Borrowers shall default under any of the provisions of this Loan Agreement., as
amended, and the Lender should employ attorneys or incur other expenses for the
collection of the payments due under this Loan Agreement., as amended, or the
enforcement of performance or observance of any obligation or agreement on the part
of the Borrowers herein contained, the Borrowers agree to pay to the Lender the
reasonable fees and expenses of such attorneys and such other expenses so incurred
by the Lender.
7. Miscellaneous.
(a) Effective Date: Effective date of this First Amendment to Loan Agreement
shall mean the date upon which the last party to this First Amendment to
Loan Agreement has executed same in accordance with the formalities
imposed upon such entity required by Florida law.
(b) Notices. Notices shall be given by each party at the addresses set forth
7
below and shall be deemed to have been sufficiently given or served for
all purposes of the same as follows: All notices required to be given by
mail will be given by first class, registered or certified mail postage
prepaid, return receipt requested, or by private courier service which
provides evidence of delivery, or sent by facsimile which produces
evidence of transmission, confirmed by first class mail, postage prepaid,
and in each case shall be deemed to have been given on the date
evidenced by the postal or courier receipt or other written evidence of
delivery or electronic transmission, addressed in the manner aforesaid.
Any party may, by providing notice in the manner set forth in this section,
change its address for purposes of this section.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 S. Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and
Growth Management Department
Room 329B, Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: Dania Beach Community Redevelopment Agency
Executive Director
City of Dania Beach
8
100 West Dania Beach Boulevard
Dania Beach, FL 33004
(c) Severability. If any provision of this Loan Agreement, as amended, shall
be held or deemed to be, or shall in fact be, illegal, inoperative or
unenforceable, the same shall not affect any other provision or provisions
herein contained or render the same invalid, inoperative, or unenforceable
to any extent whatsoever.
(d) Execution of Counterparts. This Loan Agreement, as amended, may be
executed in several counterparts each of which shall be an original and all
of which shall constitute but one and the same instrument.
(e) Governing Law. This Loan Agreement, as amended, shall be governed
exclusively by and construed in accordance with the applicable laws of the
State of Florida. The venue for any proceeding hereunder shall be
accorded appropriate jurisdiction in Broward County, Florida.
(f) This Loan Agreement, as amended, shall be binding upon, and shall inure
to the benefit of, the respective successors and assigns of the parties
hereto.
8. Waiver of Jury Trial
Borrowers and Lender hereby knowingly, irrevocably, voluntarily and intentionally
waive any right to a trial by jury in respect of any action, proceeding, defense or
counterclaim based on this Loan Agreement, as amended, or arising out of, under or in
connection with this Loan Agreement, as amended, the Note, or any other security
document, or any course of conduct, course of dealing, statements (whether verbal or
9
written) or actions of any party hereto or to any security document. This provision is a
material inducement for Borrowers and Lender entering into the subject transaction.
(Remainder of page intentionally left blank)
10
IN WITNESS WHEREOF, the Parties hereto have made and executed this First
Amendment to Loan Agreement on the respective dates under each signature:
BROWARD COUNTY through its BOARD OF COUNTY COMMISSIONERS, signing by
and through its Mayor or Vice-Mayor, authorized to execute same by Board action on
the day of 2�J , 2011; the CITY OF DANIA BEACH, signing by and
through itsCt duly authorized to execute same, and the DANIA
BEACH COMMUNITY REPIEVELOPMENT AGENCY, signing by and through its Chair,
duly authorized to execute same.
COUNTY
LENDER
TTEST: BROWARD COUNTY, through its
BOARD OF COUNTY COMMISSIONERS
!�County Administrator and By
'_j
Ex-Officio Clerk of the Mayor
Board of County Commissioners
9f#8jN 4qunty, Florida
'day of 2011
Approved as to form
CQE-f7r_-D
OCT i5T g Office of County Attorney
Broward County, Florida
m 1915 Q ,$ Governmental Center, Suite 423
4 `' �• �Q;� .•�` 115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Telecopier: (954) 357-6968
By
Carl L. Kitchner
Assi County Attorney
A�y of , 2011
Deg
11
FIRST AMENDMENT TO LOAN AGREEMENT AMONG BROWARD COUNTY, CITY
OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
BORROWERS
ATTEST: CITY OF DANIA BEACH, through its
o4n'-' -kp jo) By &&Z
Louise Stilson, CMC, City Clerk Robert Baldwin, City Manager
'S F1 day of January, 2011
Approved as to form:
By (d
Thomas r Ansbro, City Attorney
day of January, 2011
12
r
FIRST AMENDMENT TO LOAN AGREEMENT AMONG BROWARD COUNTY, CITY
OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
BORROWERS
WITNESSES: DANIA BEACH COMMUNITY
- l REDEVELOPMENT AGENCY
Louise Stilson, City n'/(
ByI � d' " �
C. K. McElyea, Chairman
Thoma J. nsprQ ,#day of January, 2011
DANIA BEACH
COMMMNITY ritulMLOPMINT AGEN"
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13
EXHIBIT "A"
Dania Beach Interlocal Agreement and Amendments
INTERLOCAL COOPERATION AGREEMENT
THIS INTERLOCAL AGREEMENT (the "Agreement"), made thisO?(Q day of
2004, by and between the following:
Broward County, Florida
a political subdivision of the State of Florida
(the "County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws.of the State of
Florida (the"City")
and.
the Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the"CRA").
WHEREAS,the Board of County Commissioners of Broward County, Florida (the
"Board"),adopted Resolution No.2002-275 on March 19,2002,which,among otherthings,
acknowledged that a slum or blighted area exists in a geographic area (the
"Redevelopment Area"), as described by the City of Dania Beach in its Finding of
Necessity for Redevelopment,the criteria of which presented by the City,in the aggregate,
demonstrated that it is necessary and appropriate to redevelop such Redevelopment Area
in accordance with the provisions of Part IIi of Chapter 163, Florida Statutes(the"Act"),as
amended; and
WHEREAS, pursuant to the Resolution of the County, the Board delegated to the
City Commission of the City of Dania Beach, Florida(the"City Commission")the authority
to exercise the redevelopment powers conferred upon the Board within the Redevelopment
Area in accordance with the Act, to enable the City Commission to declare the need for,
J
x'
create and delegate power to a community redevelopment agency("CRX)and toprepare
and adopt a plan of redevelopment for final approval by the Board; and
WHEREAS,the City Commission accepted a delegation of powers from the6oard,
found a need for, and created the CRA, granted the CRA the power to exercise those
powers permitted by the Act which were delegated by the Board to the City and drected
the preparation and adoption of a community redevelopment plan (the "Plan); and
WHEREAS,the County desires to delegate to the City Commission the remaining
powers necessary to implement the proposed Plan to be submitted pursuant to the Act,
except those powers specifically retained by the County; and
WHEREAS, contemporaneously with this Agreement, the County has adopted
Resolution No. (attached hereto and made a part hereof),which Resolution approves
the City's Plan and delegates to the City Commission the remaining powers necessary to
implement the Plan, except those powers specifically retained by the County pursuant to
the Act(a boundary change; an extension to the term of the Plan involving the continuing
contribution by the taxing authorities beyond plan adoption;and a change to the adopted
plan of such magnitude as would require a county or municipal land use plan amendment);
and
WHEREAS, on February 10, 2004, the County adopted Resolution No. 2004.76,
which creates a funding program known as the Redevelopment Capital Program for
funding of redevelopment initiatives in Broward County; and
WHEREAS,the County,the City and the CRA have agreed that the County method
of investment in any redevelopment activities proposed by the City and/or the CRA small be
redicated upon other investment strategies in lieu of County tax increment financing; and
2
WHEREAS, on March 19, 2002, the County adopted Resolution No. 2002-275
pursuant to which the County, the City and the CRA were required to enter into an
agreement of understanding to wit: Interlocal Cooperation Agreement(the"Agreement")to
delineate their areas of responsibility with respect to the redevelopment of the
Redevelopment Area and the proposed CRA's obligations and responsibilities to each
taxing authority; and
WHEREAS, there shall be established for the CRA created under the Act, a
redevelopment trust fund (the"Fund'; and
WHEREAS, the boundaries identified for the Redevelopment Area are within the
corporate limits of the City.
WITNESSETH, that for arid in consideration of the mutual covenants and
agreements contained herein, the County, the City-and the CRA agree as follows:
1.0 COUNTY INVESTMENT IN DANIA BEACH CRA
1.1 The :City and the CRA hereby agree to. comply with all•the terms,
requirements and conditions of Broward County Resolution No. 2004-76,
which creates the funding program known as the Redevelopment Capital
Program.
1.2 The City, the CRA and the County hereby agree that any redevelopment
activities proposed by the City and/or the CRA, during the term of this
Agreement and any amendments thereto, pursuant to an adopted
Community Redevelopment Plan approved by the Board, shag be
implemented pursuant to the requirements of the Redevelopment Capital
Program.
3
1.3 The City, the CRA and the County hereby agree that funding br any
redevelopment activities proposed by the City and/or the CRA, during the
term of this Agreement and any amendments thereto, pursuant to an
adopted Community Redevelopment Plan approved by the Board,shall be
funded through annual non ad valorem appropriations pursuant to the
requirements of the Redevelopment Capital Program.
1.4 The City, either directly or through the CRA, will establish and maintain a
Redevelopment Trust Fund, as required by applicable•law.
1.5 The annual funding of the Redevelopment Trust Fund shall not include any
contribution from the County, until such time as the terms and conditions of
said contribution are described specifically by and between the City,the CRA
and the County, and negotiated and memorialized in an amendment to this
Agreement specific to proposed community redevelopment project(s).
1.6 The County shall consider investing in eligible activities/projects, upon
submittal of an application by the City and/or the CRA,or the County,based
upon the extent to which the activity/project achieves a variety of criteria that
includes the following: provides for a net increase to the tax base;
furtherance of one or more of County Challenge Goals in effect at the time of
an amendment(s)to this Agreement,as appropriate;has been demonstrated
to be financially feasible in a market study; includes a financial contribution
from non-County sources; and removes slum and blight conditions.
4
1.7 The County method of investment in any redevelopment activities proposed
by the City and/or the CRA shall be predicated upon other investment
strategies in lieu of County tax increment financing.
1.8 The County shall determipe the total County investment amount far each
project, taking into consideration the amount of funds available through the
Redevelopment Capital Program consistent with Resolution No. 2004-76.
1.9 During the term of this Agreement or any amended term of this Agreement,
the City and the CRA shall provide the County an annual audit and annual
report as required by Sec. 163.387(8)and 163.356(3), Fla. Statutes. The
City and the CRA shall include a comparison of Plan goals,objectives, and
policies to annual program accomplishments and an analysis comparing
current tax base to the base year, in addition to the statutorily required
financial statements.
1.10- During the term of this Agreement or any amended term of this Agreement,
the City and the CRA shall provide the County on an annual basis, as
required by Sec. 163.356(3)(c), Fla. Statutes, to effectively demonstrate
accountability for the resources, an activity report. The activity report in a
format approved by the County, must include both expenditures for the
current fiscal year and cumulative financial information for each individual
project or activity undertaken pursuant to the community redevelopment
plan. Specific details of the reporting shall be part of the terms and
conditions of any amendment to this Agreement.
.0 TERM OF CRA
5
r
2.1 The term of the CRA for purposes of completing all community
redevelopment projects shall be no later than 40 years after the fiscalyear in
which the Community Redevelopment Plan is approved. The City reserves
the right to reduce the term of the CRA to a shorter period after the term of
this Agreement or any extensions to the Agreement have expired and
provided that all indebtedness, in whatever form agreed to, and other
contractual obligations involving Countyfunds have been satisfied. The City
will notify the County of same pursuant to Paragraph 4:5 of this Agreement.
2.2. During the term 'of the CRA, the County method of investment in any
redevelopment activities proposed by the CRA and/or the City shall be
'subject to the terms and conditions of the within Agreement and any
amendments thereto.
3.0 TERM OF AGREEMENT
The term of this Agreement will be five (5) years from the Effective Date herein.
The basis for any amendment(s) and extension(s) to the term of this Agreement
shall be the submission(s) by the City and the CRA to the County of a proposed
community redevelopment project(s) within the term of this Agreement and the
successful negotiations by and between the City, the CRA and the County
pertaining to same.
3.1 Any amended term will commence upon the time of approval by the County
of the proposed community redevelopment project(s) and execution of an
amended Agreement by and between the City, the CRA and the County
reflecting same. The City, the CRA and County agree that any and all
6
amendments to this Agreement will include an implementation schedule and
critical timeline for all proposed community redevelopment project(s).
3.2 This Agreement is non-terminable and non-cancelable during its term and
any amendments thereto, except as provided in Section 4.7.,herein.
3.3 The Parties covenant and agree that this Agreement provides a unique
opportunity for the County, the City and the CRA to engage in a long-term
relationship to promote the health, safety and welfare of the citizens and
residents of Sroward County and to provide a mechanism of financing and
project development which requires solemnity and continuation. In that
regard, the Parties further covenant and agree that this Agreement shall not
be terminable or-cancelable during its term unless and until a court of
competent jurisdiction determines,as a matter of law,that this Agreement is
not enforceable or valid.
4.0 MISCELLANEOUS
4.1 Joint Preparation: The preparation of this Agreement has been a joint effort
of the Parties hereto and the resulting document shall not,solely as a matter
of judicial construction, be construed more severely against one of the
Parties than the other.
4.2 Merger: This Agreement incorporates and includes all prior negotiations,
correspondence, agreements or understandings applicable to the matter
contained herein; and the Parties agree that there are no commitrnents,
agreements, or understandings concerning the subject matter of this
Agreement that are not contained in this document. Accordingly,the Parties
7
J
agree that no deviation from the terms hereof shall be predicated upon any
prior representations or agreements, whether oral or written. It isfurther
agreed that no change, amendment, alteration or modification in theterms
and conditions contained herein shall be effective unless contained in a
written document executed with the same formality and of equal dignity
herewith by all Parties to this Agreement.
4.3 Assi nment: The respective obligations of the Parties set forth in this
Agreement shall not be assigned, in whole,or in part, without the written
consent of the other party.
4.4 Recordation/Filing: The County Administrator as the Ex-Offrcio Cleric of the
Broward County Board of County Commissioners is hereby authorized and
directed after approval of the Agreement by the governing body of the City
and the County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file this Agreement with
the Clerk of Broward County, Florida, as required by Section 163.01(11},
Florida Statutes.
4.5 Notices: Whenever either party desires to give notice to the other, such
notice must be in writing and sent by United States mail, return receipt
requested,courier evidenced by a delivery receipt,facsimile evidenced by a
delivery receipt,or by an ovemight express delivery service evidenced by a
delivery receipt, addressed to the party for whom it is intended at the place
last specified;and the place for giving of notice shall remain such until ifshall
have been changed by written notice in compliance with the provisions of this
8
paragraph. For the present, the Parties designate the followingas the
respective places for giving of notice. Notice shall be effective upon delivery
as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 S. Andrews Avenue
Fort Lauderdale, Florida 33301
With a copy to: Broward County Attorney's Office
Suite 423, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
FOR CITY:. Ivan Pato
City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
4.6 Govemin Law and Venue: This Agreement shall be governed, construed
and controlled according to the laws of the State of Florida without regard to
its conflict of laws provision. Any claim,objection or dispute arising out of the
terms of this Agreement shall be litigated in the Seventeenth Judicial Circuit
in and for Broward County, Florida.
4.7 Severability: In the event a portion of this Agreement is found by a court of
competent jurisdiction to be invalid,the remaining provisions shall continue
9
i'
to be effective unless the City and/or the CRA or the County elect to
terminate this Agreement. An election to terminate this Agreement based
upon this provision shall be made within seven (7) calendar days after the
court's determination becomes final. For the purposes of this section,"final"
shall mean the expiration of time within which to file an appeal or the
conclusion of any appellate proceeding and the granting of an order. In such
event, the Parties agree to cooperate fully with the other to effectuate a
smooth transition of services.
4.8 Amendments: -Except as expressly authorized in this Agreement, no
modification,amendment,or alteration in the terms or conditions contained
herein shall be effective unless contained in a written document prepared
with the same or similar formality as this Agreement and executed by the
Parties.
4.9 Third Party Beneficiaries: Neither City, County nor CRA intend that any .
person shall have cause of action against either of them as a third party
beneficiary under this Agreement. Therefore, the Parties agree that there
are no third party beneficiaries to this Agreement and that no third party shall
be entitled to assert a claim against either of them based upon this
Agreement. The Parties expressly acknowledge that it is not their intent to
create any rights or obligations in any third person or entity under this
Agreement.
4.10 Nondiscrimination: The decision of the Parties hereto regarding the delivery
of services under this Agreement shall be made without regard to or
10
.J
consideration of race, age, religion, color, gender, sexual orientation
(Broward County Code, Chapter 16%2), national origin, marital status,
physical or mental disability, political affiliation, or any other factorwhich
cannot be lawfully used as a basis for service delivery.
4.11 Gender. Whenever any words are use in this Agreement in the masculine
gender, they shall be construed as though they were also used in the
feminine or neuter gender in all situations where they would so apply, and
whenever.any words are used in this Agreement in the singular form, they
shall be construed as though they were also used in the plural form in all
situations where they would so apply.
4.12 The Parties shall not engage in or commit any discriminatory practice in
violation of the Broward County Human Rights Act (Broward County Code,
Chapter 16'/z) in performing any services pursuant to this Agreement.
4.13 The parties.agree that an extraordinary majority vote(4/5)vote of the Dania
City Commission and the CRA, as applicable, shall be required in order to
institute any eminent domain proceeding or to acquire any property
exceeding the appraised value within the Community Redevelopment area.
11
IN WITNESS WHEREOF, the Parties hereto have made and executd this
Agreement on the respective dates under each signature: BROWARD COUNTYtrough
its BOARD OF COUNTY COMMISSIONERS, signing by and through its Mayors Vice-
Mayor, authorized to execute same by Board action on the::Q&�-day of Cp",2004;
and the CITY OF DANIA BEACH, signing by and through its 1-4 duly
authorized to execute same and the DANIA BEACH COMMUNITY R _DEVELOPMENT
AGENCY, signing by and through its Chair, duly authorized to execute same.
COUNTY
ATTES BROWARD COUNTY, through its
BOARD OF COUNTY COMMISSIONERS l
do-Ay Administrator a'd B - � l�h� ,;;� :•'i"�,' /
Ex-Officio Clerk of the y Mayor
Board of County Commissioners
of Broward County, Florida
t'XI/day o , 20j
Approved as to form by
HERS Office of County Attomey
ti,•',�.• �. Broward County, Florida
Governmental Center, Suite 423
!• �� t 115 South Andrews Avenue
w
Fort Lauderdale, Florida 33301
y '•.i' Telephone: (954) 357-7600
'••. ;"�-` Telecopier. (954)357-6968
�4Ks�:kw�V
By
Carl L. Kitchner
Assistant County Attorney
64&day ol`44n
12
INTERLOCAL AGREEMENT AMONG BROWARD COUNTY, CITY OF DANIA BEACH
AND DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
Y •
City Clerk May6r-CoRga sinner
�•�day of , 200�
Approved as to form:
By
City Attomey
/.lam d yof ZOO
i
INTERLOCAL AGREEMENT AMONG BROWARD COUNTY, CITY OF DANIA BEACH
AND DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES: DANIA BEACH COMMUNITY REDEVELOPMENT
ll AGENCY
Chairperson—Charier• cElyea
• _zX
day of l , 2004
-Approved as to form:
By 1 i
omas J�+
community Redevelopment Agency Attorney
7
��"day of 2004
FIRST AMENDMENT TO DANIA BEACH INTERLOCAI_AGREEMENT
This is a First AmendTwt to the Dania Beach Interlocal Agreement ("First
Amendment"), made this .1i day of 2006, by and between the
following:
Broward County, Florida
a political subdivision of the State of Florida
(the"County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the"City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
Corporate and politic (the"CRA").
WHEREAS, on April 20, 2004, County, the City and the CRA entered into an
Interocal Agreement ("Dania Beach Interlocal Agreement") pursuant to which it was
agreed that the County method of investment in any redevelopment activities proposed
by the City and/or the CRA, during the term of the Interlocal Agreement and any
amendments thereto, and pursuant to the adopted Dania Beach Community
Redevelopment Plan, would be implemented pursuant to the requirements and criteria
of the funding program, established by the County, known as the Redevelopment
Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Interlocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s); and
WHEREAS, on February 14, 2006, the Dania Beach City Commission, for
purposes of Redevelopment Capital Program funding consideration, with respect to
projects located outside of the CRA boundaries, but close enough to the CRA, such that
the development would further both the Dania Beach CRA Plan and the Redevelopment
Capital Program, approved the inclusion of properties located between the eastern
boundary of the CRA and the Modello Project, which is included, (the "additional
properties")as shown in the map attached hereto as Exhibit"A," and further, approved
a Redevelopment Plan for the Additional Properties;and
WHEREAS, the County, the City, and the CRA acknowledge and agree that
these additional properties, as defined herein above, are not included in the Dania
Beach Community Redevelopment Area, established pursuant to Chapter 163, Part 111,
but rather that the combined Community Redevelopment Area, as defined in the Dania
Beach Interlocal Agreement, and these additional properties shall be distinguished from
the Community Redevelopment Area and shall be known as the Dania Beach RCP
Redevelopment Area; and
WHEREAS, the City and/or the CRA have now identified infrastructure
improvements, as described in Exhibit "B" attached hereto, necessary for
redevelopment within the Dania Beach RCP Redevelopment Area; and
WHEREAS, the City and/or the CRA have now submitted an Application
pursuant to the requirements of the Redevelopment Capital Program; and
WHEREAS, the County has reviewed the, Application, based upon the
established criteria of the Redevelopment Capital Program and has determined that
eligible projects exist within the parameters of the Redevelopment Capital Program, as
set forth in Section 1.6 of the Interlocal Agreement, and based upon the successful
negotiations by and between the City,the CRA and the County pertaining to same; and
WITNESSETH, that for and in consideration of the mutual covenants and
agreement contained herein, the County, the City and the CRA agree as follows:
1. That the properties located between the eastern boundary of the CRA and the
Modello Project, which is included, are not part of the Dania Beach Community
Redevelopment area established pursuant to Chapter 163, Part III, Florida
Statutes, the Community Redevelopment Act of 1969, as amended, but rather
the combined Community Redevelopment Area, as defined in the Dania Beach
Interlocal Agreement, and these additional properties shall be distinguished from
the Community Redevelopment Area and shall be known as the Dania Beach
RCP Redevelopment Area.
2. That the delegation of powers by the County to the City pursuant to Chapter
163.330, at seq., Florida Statutes, the Community Redevelopment Act of 1969,
as amended, and pursuant to the County Resolution No. 2004-423 does not
apply to these additional properties.
3. That these additional properties while part of the Dania Beach RCP
Redevelopment Area, are subject to the requirements of the Redevelopment
Capital Program for non-CRA areas, including, but not limited to, reporting
2
requirements and maintaining a separate accounting for monies received from
the County.
4. The truth and accuracy of each "WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
5. Section 1.4 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.4 The City, either directly or through the CRA, will establish and maintain a
Redevelopment Trust Fund, as required by applicable law. The City,
either directly or through the CRA, must maintain a separate accounting
for monies received from the County pursuant to the terms herein.
6. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.8 The County shall determine the total County investment amount for each
project, taking into consideration the amount of funds available through
the Redevelopment Capital Program consistent with Resolution No.
2004-76. As such, County funding shall not exceed the sum of Six Million
Three Hundred Forty-five Thousand Eight Hundred Sixty-six Dollars
($6,345,866), and can be used only for the stated purposes herein, as
shown in Exhibit "B" attached hereto, which are necessary for
redevelopment within the Dania Beach RCP Redevelopment Area.
7. A new Section 4 of the Dania Beach Interlocal Agreement is hereby created as
follows:
4.0 COUNTY FUNDING OF THE PROPOSED INFRASTRUCTURE
IMPROVEMENTS
4.1 The County will participate with the City and/or the CRA in funding
the infrastructure improvements described in Exhibit "B" attached
hereto, which are necessary to the successful commencement and
completion of redevelopment within the Dania Beach RCP
Redevelopment Area.
4.2 County investment will be exercised only after submission by the
City and/or CRA to the County of an implementation schedule and
critical path timeline for the proposed infrastructure improvements,
shown in Exhibit "B," and other public and private community
redevelopment project(s).
4.3 County will lend up to 100% of the cost of each infrastructure
improvement, in accordance with the Redevelopment Capital
3
i
Program guidelines, and based on the costs shown in Exhibit"B,"
as further set forth in this Agreement.
4.4 County loan(s) shall not be made without sufficient documentation
(e.g. permits and contracts) that evidences when the infrastructure
improvement(s)will commence.
4.5 No payments of interest or principal shall be due within the first five
(5)years of the loan(s).
4.6 If all infrastructure improvements do not commence simultaneously,
then multiple County loans may be made and the five-year interest-
free period will be based on the date each loan was made.
4.7 The County shall provide a grant up to the amount of the original
infrastructure loan(s) if both of the following conditions are met: 1)
all infrastructure improvements are completed within five (5) years
from the effective date of this First Amendment, and 2) the
City/CRA demonstrates that the County's share of the revenue
generated by the net increase in the tax base within the Dania
Beach RCP Redevelopment Area boundaries over 20 years
(measured from the effective date of this First Amendment) due to
specific private redevelopment project(s) is expected to equal or
exceed the amount of the original infrastructure loan(s).
4.7.1 If conditions 1) and 2) of Section 4.7 are met, the
infrastructure loan(s) shall convert to a grant(s), through
formal request by the City/CRA, as follows: 1) one-third of
the amount of the loan(s) or one-third of the County's share
of the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
approval of the requisite permitting for the private
redevelopment project(s), and appropriate documentation of
completion of the specific infrastructure improvement(s)
shown in Exhibit"B"; 2)an additional one-third of the amount
of the loan(s) or one-third of the County's share of the
revenue generated by the expected net increase in the tax
base due to specific private redevelopment project(s),
whichever is less, will convert to grant(s) at the time when
the City/CRA provides documentation to the County that
50% of the total project floors are erected; and. 3) the
remaining one-third of the amount of the loan(s) or one-third
of the County's share of the revenue generated by the
expected net increase in the tax base due to specific private
redevelopment project(s), whichever is less, will convert to a
4
grant(s) at the time of the completion of the private
redevelopment project(s) evidenced by the issuance of all
applicable Certificates of Occupancy.
4.8 If conditions 1) and 2) of Section 4.7 herein are not met, the
infrastructure loan(s) must be repaid to the Redevelopment Capital
Program by the City or CRA over a 15-year period commencing at
the end of the initial 5-year interest-free period, as provided by
Section 4.5 herein, with interest at the Municipal Market Data
(MMD) "A" revenue bond rate as in effect at the time repayment
begins. In no event shall the term of the loan(s) exceed twenty
(20) years: five years interest free, and up to 15 years at the MMD
"A"revenue bond rate.
4.9 The City/CRA and the County agree that certain portions of the
infrastructure improvement projects shown in Exhibit "B" do not
only increase capacity for redevelopment but also upgrade existing
service. Specifically, the City/CRA and the County agree that the
Sewer Project, shown in Exhibit"B," increases capacity by 33% and
therefore only 33% of the cost of the Sewer Project ($160,642) is
eligible for-a loan under the terms of this Agreement.
4.10 In no event shall the total amount of County loans) for
infrastructure improvements described in Exhibit "B" exceed
$6,345,866 ($5,130,318 for water, $160,642 for sewer, and
$1,054,906 for stormwater). If the actual cost(s) of these
infrastructure improvement(s) is less than $6,345,866, then the total
amount of the loan(s) for the infrastructure improvement(s) cannot
exceed the actual cost(s).
4.11 In no event shall the total grant(s) for the infrastructure
improvements shown in Exhibit "B" exceed the total amount of the
loans described in Section 4.10.
4.12 The calculation of the net increase in the tax base over 20 years,
which is Condition 2 of Section 4.7 herein, is as follows:
4.12.1 The net present value of the County's share of the revenue
generated by the net increase in the tax base from a
specific private redevelopment project shall be calculated
based on the following parameters:
Estimated Project Value: Project Cost(Land & Improvements)
Property Assessment Rate: 85%of Project Cost
5
Collection Rate: 95%
Property Appreciation Rate: 4%
Payback Term: 20 Years
County Millage: Effective County Millage at the time of
grant consideration.
Discount Rate: The interest rate from the table of"A"
General Obligation yields produced
by "Municipal Market Data" and
published in the Bond Buyer for the
20-year maturity in the proposed
project financing'or funding plan. The
actual rate used shall be the interest
rate published within five (5) days
prior to the date of submittal of the
request for grant funds by the
City/CRA to the County.
4.12.2 The net increase in the tax base is the difference between
the assessed (85%) value of the specific redevelopment
project including land and improvements, and the taxable
value of the existing property including land and
improvements. If a property was acquired by the County,
the City or the CRA for the purpose of redevelopment,
within the last 4 years, the taxable value will be the latest
available taxable value increased annually by the growth in
the tax base within the RCP Redevelopment Area.
8. Section 5 of the Dania Beach Interlocal Agreement is hereby created as follows:
5.0 CITY/COUNTY COORDINATION
A. Redevelopment Area Coordinator
5.1 The County Administrator, or designee, shall designate a
redevelopment area coordinator (the "Redevelopment Area
Coordinator") for Redevelopment Capital Program funding of
projects in the Dania Beach RCP Redevelopment Area.
5.2 The Redevelopment Area Coordinator shall serve as the County's
liaison to the City/CRA for the use of the Redevelopment Capital
Program in the redevelopment of the Dania Beach RCP
Redevelopment Area.
6
5.3 The Redevelopment Area Coordinator shall be the County's
representative for the projects carried out pursuant to the
Agreement and shall be the designated person to receive all data
and reports required herein.
B. Project Management,Administration And Coordination
5.4 The City/CRA shall be responsible for implementing and
conforming to the redevelopment projects including developing and
implementing proposals for indebtedness and bond financing,
acquisition, disposition and relocation activities, eminent domain
activities, coordination and implementation of the design and
construction necessary to support the redevelopment of the subject
area.
5.5 The City/CRA shall consider any reasonable request for information
or documentation from the County with respect to implementing any
plan of action related to the redevelopment project(s). The critical
path timeline and implementation schedule shall be updated when
a request for County funding is submitted, as well as annually
beginning one year from the date of execution of this First
Amendment, and copies shall be delivered to the Redevelopment
Area Coordinator.
5.6 The Redevelopment Area Coordinator shall receive from the
City/CRA advance notice of all public meetings related to
redevelopment projects pursuant to this Agreement and, on a
regular basis, provide information regarding the progress of the
design and construction of such projects.
5.7 The City/CRA shall consult regularly with the Redevelopment Area
Coordinator in order to keep the County reasonably Informed
throughout the planning, design and construction of such
redevelopment projects.
C. City/CRA Reoortina Reouirements
The following Section through Section D Records on page 8 of this First
Amendment amends and supersedes Sections 1.9 and 1.10 of the Dania
Beach Interlocal Agreement:
5.8 During the term of this Agreement or any amended term thereof,
the City/CRA shall provide to the County, by March 31 st of each
year, an annual independent audit by a Certified Public Accounting
firm and report of activities, in furtherance of Sections 163.356(3)
7
and 163.387(8), Florida Statutes. The audit and report shall include
a complete financial report of the City's and CRA's redevelopment
project(s) relevant to the within Agreement for the preceding fiscal
year; a complete financial statement setting forth the City's and
CRA's assets, liabilities, income and operating expenses as of the
end of such fiscal year for the redevelopment project(s) relevant to
the within Agreement; and evidence of the maintenance of a
separate account/fund for monies received from the County,
including the sources and uses of funds for the redevelopment
project(s) relevant to the within Agreement. The County shall
review the audit and if it deems necessary, for purposes of being
fiscally responsible to all County residents, shall have the ability to
cause another independent audit to be performed on an annual
basis, at the County's expense, unless a material difference is
found, in which case the audit will be at the expense of the
City/CRA.
5.9 During the term of this Agreement, the City/CRA shall provide to
the County by March 316'of each year an annual progress report, in
furtherance of Section 18.87 of the Administrative Code of Broward
County.
5.9.1 The City/CRA shall include a comparison of redevelopment
plan goats, objectives and policies to the progress made in
carrying out the redevelopment projects,with a description of
annual program accomplishments and an analysis of the
increase to the tax base. The annual progress report
provided by the City/CRA to the County shall include a
section that speaks to the critical-path timeline and the City's
and CRA's projected acquisition, construction and financial
projections for the remaining years of the Agreement.
5.9.2 The detailed report of the progress made in carrying out the
redevelopment projects is to include time frames and
benchmarks, including, but not limited to, accounting of
County funding monies, increases to the tax base, any
leverage of private or non-ad valorem funds, costs and
revenues, growth in new business, reduction of incompatible
land uses or code violations, improvements to infrastructure
and ongoing benefits to the larger community.
5.9.3 The annual progress report also must include both
expenditures for the current fiscal year and cumulative
financial information for each individual project or activity
undertaken pursuant to the adopted redevelopment plan in a
format approved by the County as shown in Exhibit "C."
8
Specifically, the report must include the status of private
redevelopment projects and public improvements, status of
non-County funds and detailed accounting for all funds
received from the County. With respect to the additional
properties, the City, at all times, shall maintain a separate
accounting for monies received from the County, including
but not limited to the sources and uses of the funds.
5.9.4 The County shall review the annual progress report and
determine if the redevelopment projects have progressed in
a satisfactory manner. At the request of the County, the
City/CRA shall submit additional progress reports, if
necessary. If the County determines after receipt and review
of the annual progress report(s), that the City/CRA has not
progressed satisfactorily with the redevelopment project(s),
the County shall deliver to the City/CRA a written notice
specifying the lack of satisfaction in detail. If the City/CRA
fails to commence or take corrective action to the reasonable
satisfaction of the County, the County reserves the right to
withhold future funding, which funding is provided for under
the terms of the within Agreement. The parties hereto shall
exercise reasonable due diligence throughout the term
hereof.
D. Records
City/CRA and County shall each maintain their own respective
records and documents associated with this Interlocal Agreement in
accordance with the requirements for records retention set forth in
Chapter 119, Florida Statutes.
9. Section 6 of the Dania Beach Interlocal Agreement is hereby created and
supersedes Section 3.2 of the Agreement,to read as follows:
6.0 TERMINATION
6.1 The County shall be entitled to terminate this Agreement upon the
occurrence of a default by the City/CRA under the terms of this
Agreement. As used herein, "default" means:
6.1.1 The failure of the City/CRA to perform substantially its
obligations as detailed under the terms of this Agreement; or
6.1.2 The engagement in any illegal activity or criminal conduct, in
a materially adverse manner, by any agent or employee of
the City/CRA in the conduct of its affairs under the
9
Agreement, about which activity or conduct the City/CRA
knew or should have known.
6.2 To terminate this Agreement, based upon the occurrence of a
default under the Agreement, the County shall deliver to the
City/CRA a written notice specifying the default in detail. If the
City/CRA fails to commence or take corrective action to the
reasonable satisfaction of the County, then the Agreement shall
terminate effective on the .sixtieth (60th) day following the
City's/CRA's receipt of the notice of default.
6.3 In the event of termination based upon the occurrence of a default
under the Agreement, and the City/CRA fails to commence or take
corrective action as stated above, the City/CRA, at the discretion of
the Board of County Commissioners, shall: 1) repay the
outstanding loan(s) related to the default upon termination; or 2)
repay all outstanding loans in accordance with Sections 4.7 and
4.8, however, the provision for a grant may be rescinded, except for
grants already provided under the terms of this Agreement.
10. Section 4.0 MISCELLANEOUS of the Dania Beach Interlocal Agreement is
hereby amended to read as follows:
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this First Amendment shall be
on the date it is fully executed by all parties.
7.2 Joint Preparation: The preparation of this First Amendment has
been a joint effort of the Parties hereto and the resulting document
shall not, solely as a matter of judicial construction, be construed
more severely against one of the Parties than the other.
7.3 Merger This Agreement incorporates and includes all prior
negotiations, correspondence. agreements or understandings
applicable to the matter contained herein; and the Parties agree
that there are no commitments, agreements, or understandings
concerning the subject matter of this Agreement that are not
contained in this document. Accordingly, the Parties agree that no
deviation from the terms hereof shall be predicated upon any prior
representations or agreements,whether oral or written. It is further
agreed that no change, amendment, alteration or modification in
the terms and conditions contained herein shall be effective unless
contained in a written document executed with the same formality
and of equal dignity herewith by all Parties to this Agreement.
10
7.4 Assionment: The respective obligations of the Parties set forth in
this Agreement shall not be assigned, in whole or in part, without
the written consent of the other party.
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of the Agreement,
and amendments thereto, by the governing body of the City/CRA
and the County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file this
Agreement, and amendments thereto, with the Clerk of Broward
County, Florida, as required by Section 163.01(11), Florida
Statutes.
7.6 Contract Adminstrators: The Contract Administrators for this
Interlocal Agreement and amendments hereto are the Dania Beach
City Manager, or designee, and the County Administrator, or
designee. In the implementation of the terms and conditions of this
Interlocal Agreement, as contrasted with matters of policy
specifically established by the respective commissioners through
resolutions and/or ordinances, all parties may rely upon instructions
or determinations made by the respective Contract Administrators.
7.7 Notices: Whenever either party desires to give notice to the other,
such notice must be in writing and sent by United States mail,
return receipt requested, courier evidenced by a delivery receipt,
facsimile evidenced by a delivery receipt, or by an overnight
express delivery service evidenced by a delivery receipt, addressed
to the party for whom it is intended at the place last specified; and
the place for giving of notice shall remain such until it shall have
been changed by written notice in compliance with the provisions of
this section. For the present, the Parties designate the following as
the respective places for giving of notice. Notice shall be effective
upon delivery as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 S.Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Department of Urban Planning
and Redevelopment
Room 329K, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
11
FOR CITY: Ivan Palo
City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
7.8 Governing Law and Venue: This Agreement shall be governed,
construed and controlled according to the laws of the State of
Florida without regard to its conflict of laws provision. Any claim.
objection or dispute arising out of the terms of this Agreement shall
be litigated in the Seventeenth Judicial Circuit in and for Broward
County, Florida.
7.9 Severability: In the event a portion of this Agreement is found by a
court of competent jurisdiction to be invalid, the remaining
provisions shall continue to be effective unless the City and/or the
CRA or the County elect to terminate this Agreement. An election
to terminate this Agreement based upon this provision shall be
made within seven (7) calendar days after the court's determination
becomes final. For the purposes of this section, "final" shaft mean
the expiration of time within which to file an appeal or the
conclusion of any appellate proceeding and the granting of an
order. In such event, the Parties agree to cooperate fully with the
other to effectuate a smooth transition of services.
7.10 Amendments: Except as expressly authorized in this Agreement,
no modification, amendment, or alteration in the terms or conditions
contained herein shall be effective unless contained in a written
document prepared with the same or similar formality as this
Agreement and executed by the Parties.
7.11 Third Party Beneficiaries: Neither City, County nor CRA intend that
any person shall have cause of action against either of them as a
third party beneficiary under this Agreement. Therefore,the Parties
agree that there are no third party beneficiaries to this Agreement
and that no third party shall be entitled to assert a claim against
12
either of them based upon this Agreement. The Parties expressly
acknowledge that it is not their intent to create any rights or
obligations in any third person or entity under this Agreement.
7.12 Force Majeure: Unless otherwise governed by this Agreement or
by federal or state law or regulations, neither party shall be
obligated to perform under this Agreement if such performance is
prevented by fire, hurricane, earthquake, explosion, wars,
sabotage, accident, flood, act of God, riot or civil commotion, or by
reason of any other matter or condition beyond the control of either
party, and which cannot be overcome by reasonable diligence and
without unusual expense. In no event shall lack of funds on the
part of either party be deemed Force Majeure. Either party desiring
to rely upon such a cause shall, when the cause arises, give
prompt written notice thereof to the other party and, when the
cause ceases to exist, shall give prompt written notice thereof to
the other party. Both parties agree to use their best efforts to
minimize the effects of such cause that would give rise to the
operation of this provision.
7.13 Nondiscrimination: The decision of the Parties hereto regarding the
delivery of services under this Agreement shall be made without
regard to or consideration of race, age, religion, color, gender,
sexual orientation (Broward County Code, Chapter 161/z), national
origin, marital status, physical or mental disability, political
affiliation, or any other factor which cannot be lawfully used as a
basis for service delivery.
7.14 Gender: Whenever any words are used in this Agreement in the
masculine gender, they shall be construed as though they were
also used in the feminine or neuter gender in all situations where
they would so apply, and whenever any words are used in this
Agreement in the singular form, they shall be construed as though
they were also used in the plural form in all situations where they
would so apply.
7.15 The Parties shall not engage in or commit any discriminatory
practice in violation of the Broward County Human Rights Act
(Broward County Code, Chapter 161/2) in performing any services
pursuant to this Agreement.
7.16 The Parties agree that an extraordinary majority vote (4/5) vote of
the Dania City Commission and the CRA, as applicable, shall be
required in order to institute any eminent domain proceeding or to
acquire any property exceeding the appraised value within the
Community Redevelopment area.
13
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this First Amendment to the original
Agreement and the original Agreement, the terms and provisions of
this First Amendment shall control to the extent of any such conflict
or ambiguity.
7.18 That the original Agreement executed by the parties, shall remain in
full force and effect except as specifically amended herein.
7.19 This First amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
(Remainder of page intentionally left blank.)
14
IN WITNESS WHEREOF, the Parties hereto have made and executed this
FIRST AMENDMENT to the Agreement on the respective dates under each signature:
BROWARD COUNTY through its BOARD OF COUNTY COMMISSIONERS, signing by
and throggb its Maxtor or Vice Mayor, authorized to execute same by Board action on
the J*i 4`1 day of -�-tA- , 2006; and the CITY OF DANIA BEACH, signing by
and through its , duly authorized to execute same and the DANIA
BEACH COMMUNIYY RgIDEVELOPMENT AGENCY, signing by and through its Chair,
duly authorized to execute same.
COUNTY
ATTEST: BROWARD COUNTY, tbrough its
BOARD OF OUNTY MISSIONERS
Wr '
dministratoranLoi rr' s�, By
-Officio Clerk of tfZ !�`, r'•� fi••�•+,.iL•��' ;.� . -� Mayor
Board of County Co. mid ` j
of Broward County lorida:-
dy of •ut�, 2006
Approved as to form by
N rr,-" `��; Office of County Attorney
`••:Aroward County, Florida
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954)357-7600
Telecopier: (954)357-6968
By. .c-
Carl L. Kitchner
Assistant County Attorney
I•)kLAay of -2riQt4---, 2006
15
FIRST AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
ON By
IMSE STILSON City.Cl ANW CASTRO Mayor-Commissioner
,.� 4 day of EEBMMgy . 2006
AVAi
, AP'Clw MANAGM Approved as to form:
By -1- -\.. AV
mm J
City A torney
14 day of FFC , 2006
16
FIRST AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES:
_ DANIA BEACH COMMUNITY
7� REDEVELOPMENT AGENCY
Iv,N CITY MANAZ2
rfI ( By
MUISE SM SM, CITY CLERK
14 day of FEBpamy , 2006
CLK/It
2/10106
#06-037.01
GADIV2ICLKICLK061daniabchl stamendfina1020606.doc
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•
EM "Additional Properties"
DANIA BEACH CRA A"ADDITIONAL PROPERTIES"INFRASTRUCTURE IMPROVEMENT: EXHIBIT
Item No.' Description' From' To' Total' Recommended
County
loarep�
Water Large Diameter Water Main with FBttngs
12 inch Water Mom-US 1(or parallel thereto) Dania Beach Blvd Sheridan St. S 992.250 100 $ 992.250
12 In Water Main Dania Beach Blvd US 1 east am S 540,000 100 $ $40.000
16 in Water Main-US 1(Or parallel thereto) Dania Beach Blvd Griffin Rd 3 432.000 100 S 432,000
20 inch Water Main(mute TBD) WTP downtown $ 380.000 too $ 380,000
16 inch Water Main(mule TBD) WTP downtown $ 464.000 100 S 464.000
Special Connexions/Crossings S 200,000 too S 200.000
High Service Pumping Station $ 575,000 100 S 575,000
TOTAL CONSTRUCTION $ 3,583.2W 100 $ 3.583.250
Contngency 537,488 100 537.488
TOTAL CONSTRUCTION S 4.120.736 100 S 4,120.738
Engineering S 412.074 too S 412.074
Survey $ 103,0t8 100 $ 103,018
Permits $ 41.207 100 $ 41.207
Construction Mgmt $ 247,244 100 S 247,244
Adminfetratiolt S 82.415 100 $ 82.415
Env.Contingency $ 123,622 100 S 123.622
Total Erg,d Parnell; $ 1.009.581 t00 S I.W9,581
Total Water Project $ 5,130.318 100 $ 5,130,318
Sower Large Diameter Sewer Main
IS in Force Main Dania Beach Blvd $ 320,000 33 S105,500
Special CormectionsrCrossings $ 20.000 33 - $6.600
TOTAL CONSTRUCTION S 340.000 33 S112.200
Contingency S1.000 33 3116.830
TOTAL CONSTRUCTION $ 391.000 33 $120.031)
Engineering $ 39.100 33 $12.903
Survey S 9,775 33 S3,226
Permits S 3.910 33 61.290
Construction Mgmf S 23.460 33 $7.742
Administration j 7.820 33 S2.581
Ern.Contingency S 11,730 33 $3,871
Total Eng.8 Permits S 95,795 33 S31,612
Total Sewer Project $ 481I,T95 33 $160,642
Stomrnater Basin Sb-1 Federal Highway Trunk Line BC I study S 446,910 too $ 448.910
Basin 5"SE 2nd Ave trunk BC 1996 study $ 207,885 100 S 287.685
TOTAL CONSTRUCTION $ 738,795 Ice S 736,705
Contingency 110.619 t00 1t0,519
TOTAL CONSTRUCTION $ 947.314 100 S $47,314
Engineenng S 34.731 100 S 64.731
Survey S 21.153 100 S 21.183
Pomtits S 8.473 100 S 8.473
Construction Mgmt i 50.839 100 S 50.539
Administration S 16.946 100 S 16.948
Env.Contingency $ 25.419 100 $ 25.419
Total Eng.R Permits $ 207,592 100 S 207,592
Total Stormwater Project S 1.054.90e 100 $ 1.054,904
TOTAL ALL PROJECTS S 6,872.610 $ 6,345.968
'Rsvoeo Pidinenary E^9inee"Ophon of CRA am'AdatW W Infrdsi uclure Iffmvernpret.provided by tarry Leads.Fabuwy 10,2W5
'(%)WW Recanrnenhped Cawy Lwnts),IN OMW 9y Broemd CounH Dept of Lumen Parting and Redevebpmo m.Ptamng Savrces DWa a%FeOnwy 10.20M
Exhibit C
Bf .rWARD
� ". COUNTY
COUNTY AUDITOR
115 S.Andrews Avenue,Room 520.Ft.Lauderdale,FL 33301 • 954-357-7590•FAX 954-357-7592
Date: March 4,2004
To: Roger Desjarlais,County Administrator
Cynthia S. Chambers, Office of Urban Planning and Redevelopment
From : Evan A.Luk'tc, County Auditor
Subject: Proposed Activity Report Format for the Community Redevelopment Agencies
Pursuant to Section 163.356(3)(c), Florida Statutes,a community redevelopment agency
(Agency) must Me with the governing body a report of its activities for the preceding fiscal year.
In addition to this statutorily prescribed duty to the governing body, an Agency also has a
fiduciary duty to the taxing authorities who have provided the tax increment used by the Agency
to finance any community redevelopment it undertakes pursuant to the approved community
redevelopment plan. An essential part of fulfilling this fiduciary duty to the taxing authorities is the
periodic preparation of a report demonstrating accountability for the resources placed in their
care. As we discussed on February 19,2004,most of the Agencies are not preparing this report
or are preparing an activity report that does not demonstrate accountability.
To effectively demonstrate accountability for the resources,the activity report must include
cumulative financial information for each individual project or activity undertaken pursuant to the
community redevelopment plan. As shown.on page two.we propose an activity report format
composed of three sections. The first section would present the program expenditures for the
current fiscal year and the cumulative expenditures for each community redevelopment project
and activity as follows: 1)a description of the project;2)the projected cost of the project as
originally presented in the plan;3)the cum ulative expenditures for the project up to the beginning
of the fiscal year being reported;4) the expenditures for the fiscal year;and 5) the total
cumulative expenditures as of the end of the fiscal year being reported. The second section
would be the Statement of Revenue, Expenditures and Changes in Fund Balance for the trust
fund and would include 1)revenue received by source;2)the program expenditures;3)
administrative costs, including salaries,contractual services,and capital outlay;4)debt service,
including principal and interest;5)other expenditures;and 6)the fund balance. Section three
would be the Balance Sheet for the trust fund. There must be sufficient full disclosure in all
sections and the information presented must be reconcilable to the community redevelopment
plan and the independent financial audit of the Agency's trust fund required by Section
163.387(8)of the Florida Statutes.
Broward County Board of County Commissioners
JosePhus Eageuetion.Jr.•Ben Graber•Sue Guntburger•Kristin 0.Jaoobs•Rene Lieberman•Lori Nance Parrish•John E.Rods"M.Jr.•Jim Scott•Oran Wasserman4tubin
www.braward.org
Subject:Proposed Activity Report Format for the Community Redevelopment Agencies
March 4,2004
Page-2-
Proposed format for the report of activities.
XYZ Community Redevelopment Agency
Report of Activities
For Fiscal Year Ended September 30,2003
Section t:Program Expenditures
Cumulative Cumulative
Projected Cost as Expenditures Expenditures for Expenditures
Description of the proiect Presented in Plan Through*_30 Fiscal Year 2003 Through 9.30-03
Streetscape improvements $6,500.000 $3.500,000 $50.000 $3.550.000
Parking Project 4,500,000 50.000 4,000,000 4,050.000
Water Utility Improvements 2,000,0W 2.000.000 0 2.000.000
Drainage Improvement 2.000.000 2.000.000 0 2,000,000
Streetlight Installation 500.000 200.000 50,000 250.000
Total Program Expenditures Q Q 0
Section 11:Statement of Revenue.Expenditures and Changes in Fund Balance
Revenues:
City Tax Increment
County Tax Increment #,###,###
Interest Na.
Total Revenues #.JW.AgM#
Program Expenditures(total from Section I) 4,100,000
Administrative Costs:
Salaries ###A"
Contractual Services
Capital Outlay
Total Administrative Costs #k#
Debt Service:
Principal
Interest
Total Debt Service
Other Expenditures #
Total expenditures
Excess of Revenues Over Expenditures #,###
Fun Balance,October 1 ###,###
Fund Balance.September 30 i
Section Ill:Balance Sheet
Assets(with detail)
Liabilities and Fund Balance(with detail)
A
Performance Section
-comparison of results to the plan objectives
-critical path timeline
-time frames and benchmarks
-increases to the tax base
-any leverage of private or non-ad valorem funds
-growth in new business
-reduction of incompatible land uses or code violations
-improvement to infrastructure and ongoing benefits to the larger community
-the status of private redevelopment projects and public improvements using
non-county funds
Financial Section
-current fiscal year information,including 1)accounting of County funding and
2)detail of all expenditures(County and non-County)and related revenues for
each project
-cumulative financial information as follows:
Projected Cumulative Cumulative
Project Cost as Expenditures Expenditures Expenditures Thru
Description Presented in Thru End of for Current End of Current
Plan Prior Fiscal Year Fiscal Year Fiscal Year
Project 1 $###,### $###,###
Project 2 '
Project 3 '
Total Program ,
Expenditures
SECOND AMENDMENT TO DANIA BEACH INTERLOCAL AGREEMENT
This is the Second Amendment to the Dania Beach Interlocal Agreement
("Second Amendment"), made this day of March, 2009, by and between the
following:
Broward County, Florida
a political subdivision of the State of Florida
(the "County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the "City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the "CRA").
WHEREAS, on April 20, 2004, County, the City and the CRA entered into an
Interlocal Agreement ("Dania Beach Interlocal Agreement" or "Interlocal Agreement")
pursuant to which it was agreed that the County method of investment in any
redevelopment activities proposed by the City and/or the CRA, during the term of the
Interlocal Agreement and any amendments thereto, and pursuant to the adopted Dania
Beach Community Redevelopment Plan, would be implemented pursuant to the
requirements and criteria of the funding program, established by the County, known as
the Redevelopment Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Interlocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s); and
WHEREAS, on February 14, 2006, the Dania Beach City Commission, for
purposes of Redevelopment Capital Program funding consideration, with respect to
projects located outside of the CRA boundaries, but close enough to the CRA, such that
the development would further both the Dania Beach CRA Plan and the Redevelopment
Capital Program, approved the inclusion of properties located between the eastern
boundary of the CRA and the Modello Project, which is included, (the "Additional
Properties") as shown in the map attached as Exhibit "A" to the First Amendment (as
hereinafter defined), and further, approved a Redevelopment Plan for the Additional
Properties; and
WHEREAS, in the First Amendment, the County, the City, and the CRA
acknowledged and agreed that the Additional Properties were not included in the Dania
Beach Community Redevelopment Area, established pursuant to Chapter 163, Part III,
Florida Statutes (the "Act"), but rather that the combined Community Redevelopment
Area, as defined in the Dania Beach Interlocal Agreement, and the Additional Properties
should be distinguished from the Community Redevelopment Area and should be
known as the "Dania Beach RCP Redevelopment Area"; and
WHEREAS, the City and/or the CRA submitted an Application pursuant to the
requirements of the Redevelopment Capital Program; and
WHEREAS, the County reviewed the Application based upon the established
criteria of the Redevelopment Capital Program and determined that eligible projects
existed within the parameters of the Redevelopment Capital Program, as set forth in
Section 1.6 of the Interlocal Agreement, and based upon the successful negotiations by
and between the City, the CRA and the County pertaining to same, the County, the City,
and the CRA thereafter entered into the First Amendment to the Dania Beach Interlocal
Agreement ("First Amendment"), dated February 21, 2006, pursuant to which the
County agreed to fund, subject to the terms and conditions thereof, certain infrastructure
improvements as described in Exhibit "B" to the First Amendment within the Dania
Beach RCP Redevelopment Area up to the total amount of Six Million Three Hundred
Forty-Five Thousand Eight Hundred Sixty-Six Dollars ($6,345,866.00) from the
Redevelopment Capital Program; and
WHEREAS, the City and/or the CRA thereafter proceeded to complete the
infrastructure improvements identified in Exhibit "B" to the First Amendment, utilizing its
own funds and State Revolving Fund ("SRF") loans, due to the volatility of the interest
rate market and other economic factors affecting the City and CRA, and did not utilize
any of the $6,345,866.00 from the Redevelopment Capital Program committed under
the First Amendment; and
WHEREAS, the City and the CRA have now identified additional projects or
improvements to replace those identified in Exhibit "B" to the First Amendment, and
wish to utilize the funds committed under the First Amendment for such purposes; and
WHEREAS, the City and the CRA have submitted an Application for funding
through the Redevelopment Capital Program for the reimbursement of the costs of
acquisition of the property commonly referred to as Parcel 109 in the amount of
$2,761,314.99 (the "Parcel 109 Reimbursement"), and an additional Application for
funds to design, develop and construct a parking structure or garage adjacent to City
2
Hall and the Library to be built pursuant to that certain Agreement between the County
and the City for Lease of Real Property for Public Library and Design and Construction
of a Library Facility (the "Library Agreement"), the funds for which parking garage are
hereinafter referred to as the "Parking Garage Funds," the collective total of which with
the Parcel 109 Reimbursement, together with such future project(s) that will be the
subject of future application(s) by the CRA to the County and future amendments
resulting therefrom, provided such future amendments must be executed on or before
February 21, 2011, shall not exceed the sum of $6,345,866.00 contemplated by the
First Amendment; and
WHEREAS, the City and the CRA have requested that the Parking Garage
Funds be paid subject to the conditions set forth herein to the CRA for deposit into the
Dania Beach CRA Community Redevelopment Trust Fund ("Redevelopment Trust
Fund") created and established pursuant to the Act, the Interlocal Agreement and City
Ordinance No. 2006-017 to be expended solely for the purposes set forth herein; and
WHEREAS, the Parking Garage and Parcel 109 are wholly contained within the
boundaries of the CRA; the Additional Properties, as shown in Exhibit "A" to the First
Amendment, and collectively known with the Dania Beach Community Redevelopment
Area as the Dania Beach RCP Redevelopment Area, shall be distinguished from the
Dania Beach Community Redevelopment Area, and are no longer part of the
redevelopment area, and are not subject to the RCP request for funding herein; and
WHEREAS, after further discussion and negotiation, the County, the City and the
CRA expect to soon consider a contemplated Third Amendment to Dania Beach
Interlocal Agreement ("Third Amendment") addressing the Parcel 109 Reimbursement,
and the terms and conditions thereof;
WITNESSETH, that for and in consideration of the mutual covenants and
agreements contained herein, the County, the City and the CRA agree as follows:
1. The truth and accuracy of each "WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
2. Section 1.4 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.4 The City, either directly or through the CRA, has established and will
maintain the Redevelopment Trust Fund as required by applicable law.
The City, either directly or through the CRA, must maintain a separate
accounting for monies received from the County pursuant to the terms of
the Dania Beach Interlocal Agreement, as amended.
3. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
3
1.8 The total County funding amount from the Redevelopment Capital
Program payable to the CRA, for the Parcel 109 Reimbursement and
Parking Garage Funds, together with such future project(s) that will be the
subject of future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future amendments must
be executed on or before February 21, 2011, shall not exceed the sum of
Six Million Three Hundred Forty-Five Thousand Eight Hundred Sixty-Six
Dollars ($6,345,866.00). All amounts paid by the County shall be
deposited into the Redevelopment Trust Fund established by the City or
the CRA and expended solely as authorized by the Act and the lnterlocal
Agreement, as amended.
4. Section 4 of the Dania Beach Interlocal Agreement, as created by paragraph 7 of
the First Amendment, is hereby amended and replaced to read as follows:
4.0 COUNTY FUNDING OF INFRASTRUCTURE IMPROVEMENTS
4.1 The infrastructure improvements identified in Exhibit "B" to the First
Amendment are hereby deleted and replaced with the Parcel 109
Reimbursement and the Parking Garage Funds fundings, together
with such future project(s) that will be the subject of future
application(s) by the CRA to the County and future amendments
resulting therefrom, provided such future amendments must be
executed on or before February 21, 2011, which are necessary to
the successful commencement and completion of redevelopment
within the Dania Beach CRA boundaries. The Parcel 109
Reimbursement, and the terms and conditions thereof, shall be
further addressed and established in the Third Amendment.
The County shall fund and pay to the CRA, from funds available
through the Redevelopment Capital Program, the actual cost not to
exceed $3,100,000.00 as the Parking Garage Funds, for
approximately 138 spaces, but not less than 125 spaces nor more
than 175 spaces, which spaces are in addition to the 250 spaces
required by the Library Agreement. The County funding of Parking
Garage Funds shall not include any spaces required to be provided
by the City or CRA pursuant to the Library Agreement and thus only
include funding for those spaces above 250 in the Parking Garage.
The differential between the total of the Parcel 109 Reimbursement
and the Parking Garage Funds and $6,345,866.00 shall be
available to the CRA for future projects that will be the subject of
future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future
amendments must be executed on or before February 21, 2011.
4
4.2 The County funding will be exercised as to the Parking Garage
Funds only after submission by the City and/or CRA to the County
of an application therefore, including an implementation schedule
and critical path timeline.
4.3 The County will lend the actual cost, not to exceed $3,100,000.00,
for no less than 125 spaces nor more than 175 spaces, of all
spaces in the Parking Garage in excess of 250 spaces, at a
projected cost of $22,463.77 per space, as more fully provided in
the Application submitted therefore.
4.4 The County loan(s) of the Parking Garage Funds shall be made
when sufficient documentation (e.g. permits and contracts) that
evidences when the Parking Garage construction will commence is
submitted and reviewed in final by the County for sufficiency and
completeness, and a mutually acceptable loan agreement
executed.
4.5 No payments of interest or principal on the Parking Garage Funds
loan shall be due within the first five (5) years of the loan(s).
4.6 Intentionally Omitted.
4.7 The County shall provide a grant on the Parking Garage Funds
loan up to the amount of the original Parking Garage Funds loan(s)
if both of the following conditions are met: 1) all Parking Garage
improvements are completed within five (5) years from the effective
date of this Second Amendment or such lesser timeframe, if any,
provided in the Library Agreement, and 2) the City/CRA
demonstrates that the County's share of the revenue generated by
the net increase in the tax base due to specific private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries over 20 years (measured from the
effective date of the First Amendment dated February 21, 2006) is
expected to equal or exceed the amount of the original Parking
Garage Funds loan(s).
4.7.1 If conditions 1) and 2) of Section 4.7 are met, the Parking
Garage Funds loan(s) shall convert to a grant(s), through
formal request by the City/CRA, as follows: 1) one-third of
the amount of the loan(s) or one-third of the County's share
of the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
approval of the requisite permitting for the private
redevelopment project(s), and appropriate documentation of
5
completion of the Parking Garage; 2) an additional one-third
of the amount of the loan(s) or one-third of the County's
share of the revenue generated by the expected net
increase in the tax base due to specific private
redevelopment project(s), whichever is less, will convert to
grant(s) at the time when the City/CRA provides
documentation to the County that 50% of the total project
floors are erected; and, 3) the remaining one-third of the
amount of the loan(s) or one-third of the County's share of
the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
completion of the private redevelopment project(s)
evidenced by the issuance of all applicable Certificates of
Occupancy.
4.8 If conditions 1) and 2) of Section 4.7 herein are not met, the
Parking Garage Funds loan(s) must be repaid to the
Redevelopment Capital Program by the City or CRA over a 15-year
period commencing at the end of the initial five-year interest-free
period, as provided by Section 4.5 herein, with interest at the
Municipal Market Data (MMD) "A" revenue bond rate as in effect at
the time repayment begins. In no event shall the term of the loan(s)
exceed twenty (20) years: five years interest free, and up to 15
years at the MMD "A" revenue bond rate.
4.9 In no event shall the total amount of County grant(s) and loan(s) for
the Parcel 109 Reimbursement, the Parking Garage Funds and any
future project(s) that will be the subject of future application(s) by
the CRA to the County and future amendments resulting therefrom,
provided such future amendments must be executed on or before
February 21, 2011, exceed $6,345,866.
4.10 In no event shall the total grant(s) for the Parking Garage Funds
exceed the total amount of the loans described in this Section 4.
4.11 The calculation of the net increase in the tax base over 20 years,
which is Condition 2 of Section 4.7 herein, is as follows:
4.11.1 The net present value of the County's share of the revenue
generated by the net increase in the tax base from all private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries shall be calculated based
on the following parameters:
Estimated Project Value: Project costs (Land & Improvements)
6
Property Assessment Rate: 85% of Project Cost
Collection Rate: 95%
Property Appreciation Rate: 4%
Payback Term: 20 Years from the effective date of the
First Amendment, February 21,
2006, but may be less than 20 years
depending on the year the private
redevelopment project(s) become
part of the tax base.
County Millage: Effective County Millage at the time of
grant consideration
Discount Rate: The interest rate from the table of "A"
General Obligation yields produced
by "Municipal Market Data" and
published in the Bond Buyer for the
20-year maturity in the proposed
project financing or funding plan. The
actual rate used shall be the interest
rate published within five (5) days
prior to the date of submittal of the
request for grant funds by the
City/CRA to the County.
4.11.2 The net increase in the tax base is the difference between
the assessed (85%) value of the various redevelopment
projects including land and improvements, and the taxable
value of the existing property including land and
improvements. If a property was acquired by the County,
the City or the CRA for the purpose of redevelopment, within
the last 4 years, the taxable value will be the latest available
taxable value increased annually by the growth in the tax
base within the Dania Beach RCP Redevelopment Area.
4.12 The City and/or CRA agree that all expenditures of the funds
loaned hereby shall be made in accordance with the terms of the
Act and the Interlocal Agreement, as amended. As the County
method of funding the CRA under the Interlocal Agreement, as
amended, does not include tax increment revenues, the provisions
of Section 163.387(7) do not apply to the City and/or CRA, or the
Redevelopment Trust Fund established and maintained thereby.
7
a
The funds loaned herein shall, however, be expended for the
purposes of community redevelopment, in accordance with those
purposes provided in Section 163.387(6), Florida Statutes.
5. Section 5 of the Dania Beach Interlocal Agreement, as created by paragraph 8 of
the First Amendment, is hereby amended and replaced to read as follows:
5.0 CITY/COUNTY COORDINATION
A. Redevelopment Area Coordinator
5.1 The County Administrator, or designee, shall designate a
redevelopment area coordinator (the "Redevelopment Area
Coordinator") to serve as the County's liaison to the City/CRA for
oversight of the use of the Redevelopment Capital Program funds
loaned hereby to the City/CRA for redevelopment of the Dania
Beach CRA in accordance with the Act. The Redevelopment Area
Coordinator shall be the County's representative and designated
person to receive all data and reports required herein and/or
pursuant to the Act.
B. Project Management Administration And Coordination
5.2 The City/CRA shall be responsible for implementing and
conforming to the redevelopment projects in accordance with the
Act, including developing and implementing proposals for
indebtedness and bond financing, acquisition, disposition and
relocation activities, eminent domain activities, coordination and
implementation of the design and construction necessary to support
the redevelopment of the Dania Beach RCP Redevelopment Area.
5.3 The City/CRA shall consider any reasonable request for information
or documentation from the County with respect to implementing any
plan of action related to the redevelopment project(s). The critical
path timeline and implementation schedule for all redevelopment
projects shall be updated when a request for County funding is
submitted, as well as annually beginning one (1) year from the date
of execution of this Second Amendment, and copies thereof shall
be delivered to the Redevelopment Area Coordinator.
5.4 The Redevelopment Area Coordinator shall receive from the
City/CRA advance notice of all public meetings related to
redevelopment projects within the Dania Beach RCP
Redevelopment Area and, on a regular basis, be provided
information regarding the progress of the design and construction
of such projects.
8
5.5 The City/CRA shall consult regularly with the Redevelopment Area
Coordinator in order to keep the County reasonably informed
throughout the planning, design and construction of such
redevelopment projects.
C. City/CRA Reporting Requirements
The following Section through Section D Records on page 7 of this
Second Amendment amends and supersedes Sections 1.9 and 1.10 of
the Dania Beach Interlocal Agreement, as previously amended by the First
Amendment:
5.6 During the term of the Interlocal Agreement or any amended term
thereof, the City/CRA shall provide to the County, by March 315t of
each year, an annual independent audit by a Certified Public
Accounting firm and report of activities, in furtherance of Sections
163.356(3) and 163.387(8), Florida Statutes. The audit and report
shall include a complete financial report of the City's and CRA's
redevelopment project(s) for the preceding fiscal year; a complete
financial statement setting forth the City's and CRA's assets,
liabilities, income and operating expenses as of the end of such
fiscal year for the redevelopment project(s) relevant to the within
Agreement; and evidence of the maintenance of the
Redevelopment Trust Fund and separate account/fund for all
County monies including the sources and uses of funds therein for
the redevelopment projects relevant to the within Agreement. The
County shall review the audit and if it deems necessary, for
purposes of being fiscally responsible to all County residents, shall
have the ability to cause another independent audit to be performed
on an annual basis, at the County's expense, unless a material
difference is found, in which case the audit will be at the expense of
the City/CRA.
5.7 During the term of the Interlocal Agreement, the City/CRA shall
provide to the County by March 31st of each year an annual
progress report, in furtherance of Section 18.87 of the
Administrative Code of Broward County.
5.7.1 The City/CRA shall include a comparison of redevelopment
plan goals, objectives and policies to the progress made in
carrying out the redevelopment projects, with a description
of annual program accomplishments and an analysis of the
increase to the tax base. The annual progress report
provided by the City/CRA to the County shall include a
section that speaks to the critical path timeline and the
9
City's and CRA's projected acquisition, construction and
financial projections for the remaining years of the Interlocal
Agreement.
5.7.2 The detailed report of the progress made in carrying out the
redevelopment projects is to include timeframes and
benchmarks, including, but not limited to, accounting for
County funding monies in the Redevelopment Trust Fund,
increases to the tax base, any leverage of private or non-ad
valorem funds, costs and revenues, growth in new
business, reduction of incompatible land uses or code
violations, improvements to infrastructure and ongoing
benefits to the larger community.
5.7.3 The annual progress report also must include both
expenditures for the current fiscal year and cumulative
financial information for each individual project or activity
undertaken pursuant to the adopted redevelopment plan in
a format approved by the County as shown in Exhibit C to
the First Amendment. Specifically, the report must include
the status of private redevelopment projects and public
improvements, status of non-County funds and detailed
accounting for all funds received from the County and
deposited in the Redevelopment Trust Fund.
5.7.4 The County shall review the annual progress report and
determine if the redevelopment projects have progressed in
a satisfactory manner. At the request of the County, the
City/CRA shall submit additional progress reports, if
necessary. If the County determines after receipt and
review of the annual progress report(s), that the City/CRA
has not progressed satisfactorily with the redevelopment
project(s), the County shall deliver to the City/CRA a written
notice specifying the lack of satisfaction in detail. If the
City/CRA fails to commence or take corrective action to the
reasonable satisfaction of the County, the County reserves
the right to withhold future funding, which funding is
provided for under the terms of the Interlocal Agreement, as
amended. The City/CRA shall immediately commence
corrective action to the reasonable satisfaction of the
County. The Parties hereto shall exercise reasonable due
diligence throughout the term hereof.
10
D. Records
City/CRA and County shall each maintain their own respective
records and documents associated with this Interlocal Agreement in
accordance with the requirements for records retention set forth in
Chapter 119, Florida Statutes.
6. Section 6 of the Dania Beach Interlocal Agreement is hereby amended and
supersedes Section 3.2 of the Agreement, as amended by paragraph 9 of the
First Amendment, to read as follows:
6.0 TERMINATION
6.1 The County shall be entitled to terminate this Agreement upon the
occurrence of a default by the City/CRA under the terms of this
Agreement. As used herein, "default" means:
6.1.1 The failure of the City/CRA to perform substantially its
obligations as detailed under the terms of this Agreement; or
6.1.2 The engagement in any illegal activity or criminal conduct, in
a materially adverse manner, by any agent or employee of
the City/CRA in the conduct of its affairs under the
Agreement, about which activity or conduct the City/CRA
knew or should have known.
6.2 To terminate this Agreement, based upon the occurrence of a
default under the Agreement, the County shall deliver to the
City/CRA a written notice specifying the default in detail. If the
City/CRA fails to commence or take corrective action to the
reasonable satisfaction of the County, then the Agreement shall
terminate effective on the sixtieth (60th) day following the
City's/CRA's receipt of the notice of default.
6.3 In the event of termination based upon the occurrence of a default
under the Agreement, and the City/CRA fails to commence or take
corrective action as stated above, the City/CRA, at the discretion of
the Board of County Commissioners, shall: 1) repay the
outstanding loan(s) related to the default upon termination; or 2)
repay all outstanding loans in accordance with Sections 4.7 and
4.8, however, the provision for a grant may be rescinded, except for
grants already provided under the terms of this Agreement.
7. Section 4.0, MISCELLANEOUS of the Dania Beach Interlocal Agreement is
hereby amended to read as follows:
11
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this Second Amendment shall
be on the date it is fully executed by the parties.
7.2 Joint Preparation: The preparation of this Second Amendment has
been a joint effort of the Parties hereto and the resulting document
shall not, solely as a matter of judicial construction, be construed
more severely against one of the Parties than the other.
7.3 Merger: The Interlocal Agreement, as amended, incorporates and
includes all prior negotiations, correspondence, agreements or
understandings applicable to the matter contained herein; and the
Parties agree that there are no commitments, agreements, or
understandings concerning the subject matter of this Interlocal
Agreement, as amended, that are not contained in this document.
Accordingly, the Parties agree that no deviation from the terms
hereof shall be predicated upon any prior representations or
agreements, whether oral or written. It is further agreed that no
change, amendment, alteration or modification in the terms and
conditions contained herein shall be effective unless contained in a
written document executed with the same formality and of equal
dignity herewith by all Parties to this Interlocal Agreement, as
amended.
7.4 Assignment: The respective obligations of the Parties set forth in
the Interlocal Agreement, as amended, shall not be assigned, in
whole or in part, without the written consent of the other party.
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of this Second
Amendment, by the governing body of the City/CRA and the
County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file this Interlocal
Agreement, and amendments thereto, with the Clerk of Broward
County, Florida, as required by Section 163.01(11), Florida
Statutes.
7.6 Contract Administrators: The Contract Administrators for this
Interlocal Agreement and amendments thereto are the Dania
Beach City Manager, or designee, and the County Administrator, or
designee. In the implementation of the terms and conditions of this
Interlocal Agreement, as amended, as contrasted with matters of
policy specifically established by the respective commissioners
through resolutions and/or ordinances, all parties -may rely upon
12
instructions or determinations made by the respective Contract
Administrators.
7.7 Notices: Whenever either party desires to give notice to the other,
such notice must be in writing and sent by United States mail,
return receipt requested, courier evidenced by a delivery receipt,
facsimile evidenced by a delivery receipt, or by an overnight
express delivery service evidenced by a delivery receipt, addressed
to the party for whom it is intended at the place last specified; and
the place for giving notice shall remain such until it shall have been
changed by written notice in compliance with the provisions of this
section. For the present, the Parties designate the following as the
respective places for giving notice. Notice shall be effective upon
delivery as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and Growth
Management Department
Room 329B, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33304
7.8. Governing Law and Venue: This Interlocal Agreement and
amendments thereto shall be governed, construed and controlled
according to the laws of the State of Florida without regard to its
conflict of laws provision. Any claim, objection or dispute arising
out of the terms of this Interlocal Agreement and amendments
13
thereto shall be litigated in the Seventeenth Judicial Circuit in and
for Broward County, Florida.
7.9 Severabili : In the event a portion of this Interlocal Agreement and
amendments thereto is found by a court of competent jurisdiction to
be invalid, the remaining provisions shall continue to be effective
unless the City and/or the CRA or the County elect to terminate this
Interlocal Agreement. An election to terminate this Interlocal
Art as amended, based upon this provision shall be made
within seven (7) calendar days after the court's determination
becomes final. For the purposes for this section, "final" shall mean
the expiration of time within which to file an appeal or the
conclusion of any appellate proceeding and the granting of an
order. In such event, the Parties agree to cooperate fully with the
other to effectuate a smooth transaction of services.
7.10 Amendments: Except as expressly authorized in this Interlocal
Agreement or amendments thereto, no modification, amendment,
or alteration in the terms or conditions contained herein shall be
effective unless contained in a written document prepared with the
same or similar formality as this Interlocal Agreement and executed
by the Parties.
7.11 Third Party Beneficiaries: Neither City, County nor CRA intend that
any person shall have cause of action against either of them as a
third party beneficiary under this Interlocal Agreement or
amendments thereto. Therefore, the Parties agree that there are
no third party beneficiaries to this Interlocal Agreement and that no
third party shall be entitled to assert a claim against either of them
based upon this Interlocal Agreement or amendments thereto. The
Parties expressly acknowledge that it is not their intent to create
any rights or obligations in any third person or entity under this
Interlocal Agreement or amendments thereto.
7.12 Force Majeure: Unless otherwise governed by this Interlocal
Agreement or amendments thereto, or by federal or state law or
regulations, neither party shall be obligated to perform under this
Interlocal Agreement or amendments thereto, if such performance
is prevented by fire, hurricane, earthquake, explosion, wars,
sabotage, accident, flood, act of God, riot or civil commotion, or by
reason of any other matter or condition beyond the control of either
party, and which cannot be overcome by reasonable diligence and
without unusual expense. In no event shall lack of funds on the
part of either party be deemed Force Majeure. Either party desiring
to rely upon such a cause shall, when the cause arises, give
prompt written notice thereof to the other party and, when the
14
cause ceases to exist, shall give prompt written notice thereof to
the other party. Both parties agree to use their best efforts to
minimize the effects of such cause that would give rise to the
operation of this provision.
7.13 Nondiscrimination: The decision of the Parties hereto regarding the
delivery of services under this Interlocal Agreement or amendments
thereto, shall be made without regard to or consideration of race,
age, religion, color, gender, sexual orientation (Broward County
Code, Chapter 16'/), national origin, marital status, physical or
mental disability, political affiliation, or any other factor which
cannot be lawfully used as a basis for service delivery.
7.14 Gender: Whenever any words are used in this Interlocal
Agreement or amendments thereto, in the masculine gender, they
shall be construed as though they were also used in the feminine or
neuter gender in all situations where they would so apply, and
whenever any words are used in this Interlocal Agreement or
amendments thereto in the singular form, they shall be construed
as though they were also used in the plural form in all situations
where they would so apply.
7.15 The Parties shall not engage in or commit any discriminatory
practice in violation of the Broward County Human Rights Act
(Broward County Code, Chapter 16'h) in performing any services
pursuant to this Interlocal Agreement or amendments thereto.
7.16 The Parties agree that an extraordinary majority vote (4/5) of the
Dania City Commission and the CRA, as applicable, shall be
required in order to institute any eminent domain proceeding or to
acquire any property exceeding the appraised value within the
Community Redevelopment area.
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this Second Amendment to the original
Interlocal Agreement and the original Interlocal Agreement or First
Amendment thereto, the terms and provisions of this Second
Amendment shall control to the extent of any such conflict or
ambiguity.
7.18 That the original Interlocal Agreement, as amended by the First and
Second Amendments thereto, executed by the Parties shall remain
in full force and effect except as specifically amended herein.
7.19 This Second Amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
15
7.20 The City and/or the CRA shall reasonably encourage the
participation of, and utilization of, small and minority businesses,
specifically, but not limited to, a financial advisor, bond counsel,
underwriters' counsel and underwriting services in the development
of the redevelopment projects of the City.
(Remainder of page intentionally left blank)
16
IN WITNESS WHEREOF, the Parties hereto have made and executed this
SECOND AMENDMENT to the Interlocal Agreement on the respective dates under
each signature: BROWARD COUNTY through its BOARD OF COUNTY
COMMISSIONERS, signing by and throygl� its May or Vice Mayor, authorized to
execute same by Board action on the_Z. -day of t �,� , 2009; and
the CITY OF DANIA BEACH, signing by and through its M or, duly authorized to
execute same and the DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY,
signing by and through its Chair, duly authorized to execute same.
COUNTY
ATTEST: 401 BROWARD COUNTY, through its
s�
RD OF COUNTY COMMISSIONERS
County ministrator an C .; rs,
Ex-Officio Clerk of the B `rd ;z �,. 1: _ Mayor
of County Commissione ' of `'4�
Broward County c._ ti;7
's _;;:day of , 2009
paved as to form by:
Off ce of County Attorney
Broward County, Florida
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Facsimile: (954) 357-6968
Assistant County Attorney
j. play of Pu� , 2009
17
TO
BROWARD
SECOND AMENDMENT DANIA N BEACON AANDG DANIA AGREEMENT AMONG
GCOMMUNITY
COUNTY, CITY O
REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
BY
Louise Stilson, City C erk Albert C. Jones, Mayor- missioner
11 day of 12009
Colin Donnelly Approved as to form:
Acting City Manager
By
,5 f'RMST Ury Thomai J.AA.nsbro, City Attorney
j,
day of y�l�'� ''` , 2009
h
��vaaoR�
18
I
SECOND AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD
COUNTY, CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES:
DANIA BEACH COMMUNITY
n n REDEVELOPMENT AGENCY
Colin Donnelly, Acting City Ma V&r
By
.J �;�� Albert C. Jones, Chairman
Louise Stilson, City Clerk 'J
day of M 4 , 2009
.s F`RST�r Approved as to form:
By
Thomas . Ansbro, City Attorney
i
day of , 2009
19
THIRD AMENDMENT TO DANIA BEACH INTERLOCAL AGREEMENT
This is the THIRD Amendment to the Dania Beach Interlocal Agreement ("THIRD
Amendment"), made this 1day of March, 2009, by and between the following:
Broward County, Florida
a political subdivision of the State of Florida
(the"County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the "City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the"CRA").
WHEREAS, on April 20, 2004, County, the City and the CRA entered into an
Interlocal Agreement ("Dania Beach Interlocal Agreement" or "Interlocal Agreement')
pursuant to which it was agreed that the County method of investment in any
redevelopment activities proposed by the City and/or the CRA, during the term of the
Intedocal Agreement and any amendments thereto, and pursuant to the adopted Dania
Beach Community Redevelopment Plan, would be implemented pursuant to the
requirements and criteria of the funding program, established by the County, known as
the Redevelopment Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Intedocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s); and
WHEREAS, on February 14, 2006, the Dania Beach City Commission, for
purposes of Redevelopment Capital Program funding consideration, with respect to
projects located outside of the CRA boundaries, but close enough to the CRA, such that
the development would further both the Dania Beach CRA Plan and the Redevelopment
Capital Program, approved the inclusion of properties located between the eastern
boundary of the CRA and the Modello Project, which is included, (the "Additional
Properties") as shown in the map attached as-Exhibit "A" to the First Amendment (as
hereinafter defined), and further, approved a Redevelopment Plan for the Additional
Properties; and
WHEREAS, in the First Amendment, the County, the City, and the CRA
acknowledged and agreed that the Additional Properties were not included in the Dania
Beach Community Redevelopment Area, established pursuant to Chapter 163, Part III,
Florida Statutes (the "Act"), but rather that the combined Community Redevelopment
Area, as defined in the Dania Beach Interlocal Agreement, and the Additional Properties
should be distinguished from the Community Redevelopment Area and should be
known as the "Dania Beach RCP Redevelopment Area"; and
WHEREAS, the City and/or the CRA submitted an Application pursuant to the
requirements of the Redevelopment Capital Program; and
WHEREAS, the County reviewed the Application based upon the established
criteria of the Redevelopment Capital Program and determined that eligible projects
existed within the parameters of the Redevelopment Capital Program, as set forth in
Section 1.6 of the Interlocal Agreement, and based upon the successful negotiations by
and between the City, the CRA and the County pertaining to same, the County, the City,
and the CRA thereafter entered into the First Amendment to the Dania Beach Interlocal
Agreement ("First Amendment"), dated February 21, 2006, pursuant to which the
County agreed to fund, subject to the terms and conditions thereof, certain infrastructure
improvements as described in Exhibit "B" to the First Amendment within the Dania
Beach RCP Redevelopment Area up to the total amount of Six Million Three Hundred
Forty-Five Thousand Eight Hundred Sixty-Six Dollars ($6,345,866.00) from the
Redevelopment Capital Program; and
WHEREAS, the City and/or the CRA thereafter proceeded to complete the
infrastructure improvements identified in Exhibit "B" to the First Amendment, utilizing its
own funds and State Revolving Fund ("SRF") loans, due to the volatility of the interest
rate market and other economic factors affecting the City and CRA, and did not utilize
any of the $6,345,866.00 from the Redevelopment Capital Program committed under
the First Amendment; and
WHEREAS, the City and the CRA have now identified additional projects or
improvements to replace those identified in Exhibit "B" to the First Amendment, and
wish to utilize the funds committed under the First Amendment for such purposes; and
WHEREAS, the City and the CRA have submitted an Application for funding
through the Redevelopment Capital Program for the reimbursement of the costs of
acquisition of the property commonly referred to as Parcel 109 in the amount of
$2,761,314.99 (the "Parcel 109 Reimbursement"), and an additional Application for
funds to design, develop and construct a parking structure or garage adjacent to City
Hall and the Library to be built pursuant to that certain Agreement between the County
2
and the City for Lease of Real Property for Public Library and Design and Construction
of a Library Facility (the "Library Agreement"), the funds for which parking garage are
hereinafter referred to as the "Parking Garage Funds,"
the collective total of which with
the Parcel 109 Reimbursement, together with such future project(s) that will be the
subject of future application(s) by the CRA to the County and future amendments
resulting therefrom, provided such future amendments must be executed on or before
February 21, 2011, shall not exceed the sum of $6,345,866.00 contemplated by the
First Amendment; and
WHEREAS, the County, the City, and the CRA have negotiated the parameters
for such Parking Garage Funds e funding Dan and the Beachterms me Interlocal Agrtions eement dated thereof,
Mar h
executed the Second Amend
2009 (the "Second Amendment") to effectuate the same; and
WHEREAS, the Parking Garage and Parcel 109 are wholly contained within the
boundaries of the CRA; the Additional Properties, as shown in Exhibit "A" to the First
Amendment, and collectively known with the Dania Beach Community Redevelopment
Area as the Dania Beach RCP Redevelopment Area, shall be distinguished from the
Dania Beach Community Redevelopment Area, and are no longer part of the
redevelopment area, and are not subject to the RCP request for funding herein; and
WHEREAS, the City and the CRA have requested that the Parcel 109
Reimbursement be paid subject to the conditions set forth herein to the CRA for deposit
into the Dania Beach CRA Community Redevelopment Trust Fund ("Redevelopment
Trust Fund") created and established pursuant to the Act, the Interlocal Agreement and
City Ordinance No. 2006-017 to be expended solely for the purposes set forth herein
and disbursed by the County under the conditions set forth herein; and
WHEREAS, on February 24, 2009, before the Broward County Board of County
Commissioners, the County, the City and the CRA agreed, subject to appropriate
required further approval of their respective governing bodies, that the City/CRA would
obtain County funding through the Broward County Redevelopment Capital Program for
the reimbursement of the cost of acquisition of Parcel 109 in the agreed sum of
$2,334,200.00 in the form of a loan to the City/CRA under the conditions set forth herein
and further described in the Loan Agreement and Promissory Note executed
contemporaneous herewith; and
WITNESSETH, that for and in consideration of the mutual covenants and
agreements contained herein,the County, the City and the CRA agree as follows:
1. The truth and accuracy of each "WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
2. Section 1.4 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
3
1.4 The City, either directly or through the CRA, has established and will
maintain the Redevelopment Trust Fund as required by applicable law.
The City, either directly or through the CRA, must maintain a separate
accounting for monies received from the County pursuant to the terms of
the Dania Beach Interlocal Agreement, as amended.
3. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.8 The total County funding amount from the Redevelopment Capital
Program payable to the CRA, for the Parcel 109 Reimbursement and
Parking Garage Funds, together with such future project(s) that will be the
subject of future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future amendments must
be executed on or before February 21, 2011, shall not exceed the sum of
Six Million Three Hundred Forty-Five Thousand Eight Hundred Sixty-Six
Dollars ($6,345,866.00). All amounts paid by the County shall be
deposited into the Redevelopment Trust Fund established by the City or
the CRA and expended solely as authorized by the Act and the Interlocal
Agreement, as amended.
4. Section 4 of the Dania Beach Interlocal Agreement, as created by paragraph 7 of
the First Amendment, and as further amended by the Second Amendment is
hereby further amended and supplemented to read as follows:
4.0 COUNTY FUNDING OF INFRASTRUCTURE IMPROVEMENTS
4.1 The infrastructure improvements identified in Exhibit "B" to the First
Amendment are hereby deleted and replaced with the Parcel 109
Reimbursement and the Parking Garage Funds fundings, together
with such future project(s) that will be the subject of future
application(s) by the CRA to the County and future amendments
resulting therefrom, provided such future amendments must-be
executed on or before February 21, 2011, which are necessary to
the successful commencement and completion of redevelopment
within the Dania Beach CRA boundaries.
In addition to the provisions of the Second Amendment, the County
shall fund and pay to the CRA, from funds available through the
Redevelopment Capital Program, the agreed sum of
$2,334,200.00, which is 10% above the appraisal submitted by the
CRA of $2,122,000.00 and less than the Application submitted of
$2,761,314.99, as the , actual Parcel 109 Reimbursement.
Notwithstanding anything else contained herein, this amount shall
be made as a loan convertible to a grant to the CRA under
conditions set forth in Section 4.7 herein.
4
The differential between the total of the Parcel 109 Reimbursement
and the Parking Garage Funds and $6,345,866.00 shall be
available to the CRA for future projects that will be the subject of
future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future
amendments must be executed on or before February 21, 2011.
4.2 In addition to the provisions of the Second Amendment, the County
funding will be exercised as to the Parcel 109 Reimbursement only
after submission by the City and/or CRA to the County of an
' application therefore, including an implementation schedule and
critical path timeline.
4.3 In addition to the provisions of the Second Amendment, the County
will lend $2,334,200.00 for the Parcel 109 Reimbursement as more
fully described in the application submitted therefore.
4.4 In addition to the provisions of the Second Amendment, the County
funding of the Parcel 109 Reimbursement shall be made within
thirty (30) days of the execution of this Third Amendment by all
parties hereto.
4.5 In addition to the provisions of the Second Amendment, no
payments of interest or principal on the Parcel 109 Reimbursement
loan shall be due within the first five (5) years of the loan.
4.6 Intentionally Omitted.
4.7 In addition to the provisions of the Second Amendment as
applicable to the Parking Garage Funds loan, the County loan shall
be convertible to a grant on the Parcel 109 Reimbursement up to
the amount thereof if both of the following conditions are met: 1)
the acquisition of Parcel 109 shall be completed within five (5)
years from the effective date of this Third Amendment (it being
acknowledged that such acquisition has already occurred), and 2)
the City/CRA demonstrates that the County's share of the revenue
generated by the net increase in the tax base due to specific private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries over 20 years (measured from the
effective date of the First Amendment dated February 21, 2006) is
expected to equal or exceed the amount of the original Parcel 109
Reimbursement paid by the County to the CRA.
4.7.1 ' If conditions 1) and 2) of Section 4.7 are met, the Parcel 109
Reimbursement loan(s) shall convert to a grant(s), through
5
formal request by the City/CRA, as follows: 1) one-third of
the amount of the loan(s) or one-third of the County's share
of the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
approval of the requisite permitting for the private
redevelopment project(s), and appropriate documentation of
the acquisition of Parcel 109 (it being acknowledged that
such acquisition has already occurred); 2) an additional one-
third of the amount of the loan(s) or one-third of the County's
share of the revenue generated by the expected net
increase in the tax base due to specific private
redevelopment project(s), whichever is less, will convert to
grant(s) at the time when the City/CRA provides
documentation to the County that 50% of the total project
floors are erected; and, 3) the remaining one-third of the
amount of the loan(s) or one-third of the County's share of
the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
completion of the private redevelopment project(s)
evidenced by the issuance of all applicable Certificates of
Occupancy.
4.8 In addition to the provisions of the Second Amendment, if
conditions 1) and 2) of Section 4.7 herein are not met, the Parcel
109 Reimbursement loan must be repaid to the Redevelopment
Capital Program by the City or CRA over a 15-year period
commencing at the end of the initial five-year interest-free period,
as provided by Section 4.5 herein, with interest at the Municipal
Market Data (MMD) "A" revenue bond rate as in effect at the time
repayment begins. In no event shall the term of the loan exceed
twenty (20) years: five years interest free, and up to 15 years at the
MMD "A" revenue bond rate.
4.9 In no event shall the total amount of County grant(s) and loan for
the Parcel 109 Reimbursement, the Parking Garage Funds and any
future project(s) that will be the subject of future application(s) by
the CRA to the County and future amendments resulting therefrom,
which must be executed on or before February 21, 2011, exceed
$6,345,866.
4.10 In addition to the provisions of the Second Amendment, in no event
shall the total grant(s) for the Parcel 109 Reimbursement exceed
the total amount of the loan described in this Section 4.
. 6
4.11 In addition to the provisions of the Second Amendment as
applicable to the Parking Garage Funds loan, the calculation of the
net increase in the tax base over 20 years, which is Condition 2 of
Section 4.7 herein, is as follows:
4.11.1 The net present value of the County's share of the revenue
generated by the net increase in the tax base from all private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries shall be calculated based
on the following parameters:
Estimated Project'Value: Project costs (Land & Improvements)
Property Assessment Rate: 85% of Project Cost
Collection Rate: 95%
Property Appreciation Rate: 4%
Payback Term: 20 Years from the effective date of the
First Amendment, February 21, 2006,
but may be less than 20 years
depending on the year the private
redevelopment project(s) become
part of the tax base.
County Millage: Effective County Millage at the time of
grant consideration
Discount Rate: The interest rate from the table of "A"
General Obligation yields produced
by "Municipal Market Data" and
published in the Bond Buyer for the
20-year maturity in the proposed
project financing or funding plan. The
actual rate used shall be the interest
rate published within five (5) days
prior to the date of submittal of the
request for grant funds by the
City/CRA to the County.
4.11.2 The net increase in the tax base is the difference between
the assessed (85%) value of the various redevelopment
projects including land and improvements, and the taxable
value of the existing property including land and
improvements as of the date of this Third Amendment. If a
7
property was acquired by the County, the City or the CRA for
the purpose of redevelopment, within the last 4 years, the
taxable value will be the latest available taxable value
increased annually by the growth in the tax base within the
Dania Beach RCP Redevelopment Area.
4.12 The City and/or CRA agree that all expenditures of the funds
granted or loaned hereby shall be made in accordance with the
terms of the Act and the Interlocal Agreement, as amended. As the
County method of funding the CRA under the Interlocal Agreement,
as amended, does not include tax increment revenues, the
provisions of Section 163.387(7) do not apply to the City and/or
CRA, or the Redevelopment Trust Fund established and
maintained thereby. The funds loaned herein shall, however, be
expended for the purposes of community redevelopment, in
accordance with those purposes provided in Section 163.387(6),
Florida Statutes.
5. Section 5 of the Dania Beach Interlocal Agreement, as created by paragraph 8 of
the First Amendment, and further amended by paragraph 5 of the Second
Amendment, shall remain unchanged and its provisions fully applicable to this
Third Amendment.
6. Section 6 of the Dania Beach Interlocal Agreement, as amended by paragraph 9
of the First Amendment and paragraph 6 of the Second Amendment, is further
amended and supplemented to provide as follows, as applicable to this Third
Amendment.
6.0 TERMINATION
6.1 The County shall be entitled to terminate this Agreement upon the
occurrence of a default by the City/CRA under the terms of this
Agreement. As used herein, "default" means:
6.1.1 The failure of the City/CRA to perform substantially its
obligations as detailed under the terms of this Agreement; or
6.1.2 The engagement in any illegal activity or criminal conduct, in
a materially adverse manner, by any agent or employee of
the City/CRA in the conduct of its affairs under this
Agreement, about which activity or conduct the City/CRA
knew or should have known.
6.2 To terminate this Agreement, based upon the occurrence of a
default under the Agreement, the County shall deliver to the
City/CRA a written notice specifying the default in detail. If the
8
City/CRA fails to commence or take corrective action to the
reasonable satisfaction of the County, then this Agreement shall
terminate effective on the sixtieth (60th) day following the
City's/CRA's receipt of the notice of default.
6.3 In the event of termination based upon the occurrence of a default
under this Agreement, and the City/CRA fails to commence or take
corrective action as stated above, the City/CRA, at the discretion of
the Board of County Commissioners, shall: 1) repay the
outstanding loan(s) related to the default upon termination; or 2)
repay all outstanding loans in accordance with Sections 4.7 and
' 4.8, however, the provision for a grant may be rescinded, except for
grants already provided under the terms of this Agreement.
7. Section 4.0, MISCELLANEOUS of the Dania Beach Interlocal Agreement, as
applicable to this Third Amendment, is hereby amended to read as follows:
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this Third Amendment shall be
on the date it is fully executed by the parties.
7.2 Joint Preparation: The preparation of this Third Amendment has
been a joint effort of the Parties hereto and the resulting document
shall not, solely as a matter of judicial construction, be construed
more severely against one of the Parties than the other.
7.3 Merger: The Interlocal Agreement, as amended, incorporates and
includes all prior negotiations, correspondence, agreements or
understandings applicable to the matter contained herein; and the
Parties agree that there are no commitments, agreements, or
understandings concerning the subject matter of this Interlocal
Agreement, as amended, that are not contained in this document.
Accordingly, the Parties agree that no deviation from the terms
hereof shall be predicated upon any prior representations or
agreements, whether oral or written. It is further agreed that no
change, amendment, alteration or modification in the terms and
conditions contained herein shall be effective unless contained in a
written document executed with the same formality and of equal
dignity herewith by all Parties to this Interlocal Agreement, as
amended.
7.4 Assignment: The respective obligations of the Parties set forth in
the Interlocal Agreement, as amended, shall not be assigned, in
whole or in part, without the written consent of the other party.
9
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of this Third
Amendment, by the governing body of the City/CRA and the
County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file this Interlocal
Agreement, and amendments thereto, with the Clerk of Broward
County, Florida, as required by Section 163.01(11), Florida
Statutes.
7.6 Contract Administrators: The Contract Administrators for this
Interlocal 'Agreement and amendments thereto are the Dania
Beach City Manager, or designee, and the County Administrator, or
-designee. In the implementation of the terms and conditions of this
Interlocal Agreement, as amended, as contrasted with matters of
policy specifically established by the respective commissioners
through resolutions and/or ordinances, all parties may rely upon
instructions or determinations made by the respective Contract
Administrators.
7.7 Notices: Whenever either party desires to give notice to the other,
such notice must be in writing and sent by United States mail,
return receipt requested, courier evidenced by a delivery receipt,
facsimile evidenced by a delivery receipt, or by an overnight
express delivery service evidenced by a delivery receipt, addressed
to the party for whom it is intended at the place last specified; and
the place for giving notice shall remain such until it shall have been
changed by written notice in compliance with the provisions of this
section. For the present, the Parties designate the following as the
respective places for giving notice. Notice shall be effective upon
delivery as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and Growth
Management Department
Room 329B, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
10
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33304
7.8. Governing Law and Venue: This Interlocal Agreement and
amendments thereto shall be governed, construed and controlled
according to the laws of the State of Florida without regard to its
conflict of laws provision. Any claim, objection or dispute arising
out of the terms of this Interlocal,Agreement and amendments
thereto shall be litigated in the Seventeenth Judicial Circuit in and
for Broward County, Florida.
7.9 Severabili : In the event a portion of this Interlocal Agreement and
amendments thereto is found by a court of competent jurisdiction to
be invalid, the remaining provisions shall continue to be effective
unless the City and/or the CRA or the County elect to terminate this
Interlocal Agreement. An election to terminate this Interlocal
Agreement, as amended, based upon this provision shall be made
within seven (7) calendar days after the court's determination
becomes final. For the purposes for this section, final shall mean
the expiration of time within which to file an appeal or the
conclusion of any appellate proceeding and the granting of an
order. In such event, the Parties agree to cooperate fully with the
other to effectuate a smooth transaction of services.
7.10 Amendments: Except as expressly authorized in this Interlocal
Agreement or amendments thereto, no modification, amendment,
or alteration in the terms or conditions contained herein shall be
effective unless contained in a written document prepared with the
same or similar formality as this Interlocal Agreement and executed
by the Parties.
7.11 Third Party Beneficiaries: Neither City, County nor CRA intend that
any person shall have cause of action against either of them as a
third party beneficiary " under this Interlocal Agreement or
amendments thereto. Therefore, the Parties agree that there are
no third party beneficiaries to this Interlocal Agreement and that no
third party shall be entitled to assert a claim against either of them
11
based upon this Interlocal Agreement or amendments thereto. The
Parties expressly acknowledge that it is not their intent to create
any rights or obligations in any third person or entity under this
Interlocal Agreement or amendments thereto.
7.12 Force Majeure: Unless otherwise governed by this Interlocal
Agreement or amendments thereto, or by federal or state law or
regulations, neither party shall be obligated to perform under this
Interlocal Agreement or amendments thereto, if such performance
is prevented by fire, hurricane, earthquake, explosion, wars,
sabotage, accident, flood, act of God, riot or civil commotion, or by
reason of any other matter or condition beyond the control of either
party, and which cannot be overcome by reasonable diligence and
without unusual expense. In no event shall lack of funds on the
part of either party be deemed Force Majeure. Either party desiring
to rely upon such a cause shall, when the cause arises, give
prompt written notice thereof to the other party and, when the
cause ceases to exist, shall give prompt written notice thereof to
the other party. Both parties agree to use their best efforts to
minimize the effects of such cause that would give rise to the
operation of this provision.
7.13 Nondiscrimination: The decision of the Parties hereto regarding the
delivery of services under this Interlocal Agreement or amendments
thereto, shall be made without regard to or consideration of race,
age, religion, color, gender, sexual orientation (Broward County
Code, Chapter 16'/z), national origin, marital status, physical or
mental disability, political affiliation, or any other factor which
cannot be lawfully used as a basis for service delivery.
7.14 Gender: Whenever any words are used in this Interlocal
Agreement or amendments thereto, in the masculine gender, they
shall be construed as though they were also used in the feminine or
neuter gender in all situations where they would so apply, and
whenever any words are used in this Interlocal Agreement or
amendments thereto in the singular form, they shall be construed
as though they were also used in the plural form in all situations
where they would so apply.
7.15 The Parties shall not engage in or commit any discriminatory
practice in violation of the Broward County Human Rights Act
(Broward County Code, Chapter 16%Z) in performing any services
pursuant to this Interlocal Agreement or amendments thereto.
7.16 The Parties agree that an extraordinary majority vote (4/5) of the
Dania City Commission and the CRA, as applicable, shall be
12
required in order to institute any eminent domain proceeding or to
acquire any property exceeding the appraised value within the
Community Redevelopment area.
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this Third Amendment to the original
Interlocal Agreement and the original Interlocal Agreement, First
Amendment or Second Amendment thereto, the terms and
provisions of this Third Amendment shall control to the extent of
any such conflict or ambiguity.
7.18 'That the original Interlocal Agreement, as amended by the First
Amendment, Second Amendment and Third Amendment thereto,
executed by the Parties shall remain in full force and effect except
as specifically amended herein.
7.19 This Third Amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
7.20 The City and/or the CRA shall reasonably encourage the
participation of, and utilization of, small and minority businesses,
specifically, but not limited to, a financial advisor, bond counsel,
underwriters' counsel and underwriting services in the development
of the redevelopment projects of the City.
(Remainder of page intentionally left blank)
13
IN WITNESS WHEREOF, the Parties hereto have made and executed this
THIRD AMENDMENT to the Interlocal Agreement on the respective dates under each
signature: BROWARD COUNTY through its BOARD OF COUNTY COMMISSIONERS,
signing by and through its May or Vice Mayor, authorized to execute same by Board
action on the �day of Cam.. , 2009; and the CITY OF DANIA
BEACH, signing by and through its Mayor, duly authorized to execute same and the
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, signing by and through its
Chair, duly authorized to execute same.
COUNTY
ATTEST: BROWARD C UN , throug it
BOARD OF OU COM I NERS
County Admin strator and By
Ex-Officio Clerk of the Board Mayor
of County Commissioners of
Broward County2009
day o ,
wr,i'1 "nr.ssi 11�
AA roved as to form by:
Office of County Attorney
Broward County, Florida
1 ry
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Facsimile: (954) 357-6968
By_(21
// Assistant County Attorney
f l day of 2009
14
OCAL
NT AMONG BROWARD
THIRD AMENDMENT AC INL DANIA BEACHECOMMUNITY REDEVELOPMENT,
CITY OF DANIA BEACH AND
AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
� By
Louise Stilso ; CMC, City Clerk Albert C. Jon s, Mao -Commissioner
• 1 day of m R e2. �-t� , 2009
Colin Donnelly Approved as to form:
Acting City Manager
By
Tho as J. nsb , Ci Attorney
pIS F1
day of 1+� , 2009
15
THIRD AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES:
DANIA BEACH COMMUNITY
n n REDEVELOPMENT AGENCY
Colin Donnelly, Actin City Manager \,
'By. "eq,
n.'U'4 '104a t) Albert C. Jones, Ch rman
P
Louise Stilson, CMC, City Clerk
It day of Mo9 5Q C14 , 2009
ARnsgRr Approved as to form:
j
�i By
41
Thomas J. nsb , Chy Attorney
1
t�day of 2009
16
FOURTH AMENDMENT TO DANIA BEACH INTERLOCAL AGREEMENT
This is the Fourth Amendment to the Dania Beach Interlocal Agreement ("Fourth
Amendment"), made this 27 day of �&g 2010, by and between the
following:
Broward County, Florida
a political subdivision of the State of Florida
(the "County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the "City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the "CRA").
WHEREAS, on April 20, 2004, the County, the City and the CRA entered into an
Interlocal Agreement ("Dania Beach Interlocal Agreement" or "Interlocal Agreement")
pursuant to which it was agreed that the County method of investment in any
redevelopment activities proposed by the City and/or the CRA, during the term of the
Interlocal Agreement and any amendments thereto, and pursuant to the adopted Dania
Beach Community Redevelopment Plan, would be implemented pursuant to the
requirements and criteria of the funding program, established by the County, known as
the Redevelopment Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Interlocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s);
WHEREAS, on February 21, 2006, the County, the City and the CRA entered
into the First Amendment to the Dania Beach Interlocal Agreement (the "First
Amendment"), pursuant to which the County agreed to fund by way of one or more
loans which, subject to the terms and conditions thereof, could be converted to grant(s),
for certain infrastructure improvements as described in the First Amendment within the
Dania Beach RCP Redevelopment Area up to the total amount of Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six Dollars ($6,345,866.00)from the
RCP; and
WHEREAS, the City and/or the CRA thereafter subsequently proceeded to
complete the infrastructure improvements identified in the First Amendment, utilizing its
own funds and other funding sources, and did not utilize any of the Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100 Dollars
($6,345,866.00)from the RCP committed under the First Amendment; and
WHEREAS, the City and the CRA then identified additional projects or
improvements to replace those identified in the First Amendment, and sought to utilize
the funds committed under the First Amendment for such purposes; and
WHEREAS, the City and the CRA then sought funding for the additional projects,
specifically, for the reimbursement of the costs of acquisition of the property commonly
known as Parcel 109, in the amount of Two Million Three Hundred Thirty-Four
Thousand Two Hundred and no/100 Dollars ($2,334,200.00) (the "Parcel 109
Reimbursement') and funding for a portion of a parking structure or garage, related to
new private redevelopment, in the amount not to exceed Three Million One Hundred
Thousand and no/100 Dollars ($3,100,000.00), adjacent to City Hall and the Library,
which funds are hereinafter referred to as the "Parking Garage Funds," together with
such future project(s) that would be the subject of future application(s) by the CRA to
the County and future amendments resulting therefrom, provided such future
amendments are executed on or before February 21, 2011, not to exceed the total sum
of Six Million Three Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100
Dollars ($6,345,866.00) contemplated by the First Amendment; and
WHEREAS, the County, the City, and the CRA, having negotiated the
parameters for such Parking Garage Funds and the terms and conditions thereof,
following Board approval on February 24, 2009, entered into the Second Amendment to
Dania Beach Interlocal Agreement (the "Second Amendment") to effectuate the same;
and
WHEREAS, pursuant to the Second Amendment, the Board approved funding
not to exceed Three Million One Hundred Thousand and no/100 Dollars
($3,100,000.00) to fund approximately 138 parking spaces, but not less than 125 nor
more than 175, in a parking structure/garage. The RCP funds were to be provided as a
five-year interest-free loan(s) which could convert to a grant(s) with conditions similar to
those for the Parcel 109 Reimbursement, which funding has been addressed in the
Third Amendment to the Dania Beach Interlocal Agreement (the "Third Amendment')
entered into on March 24, 2009, by and between the County, the City and the CRA; and
WHEREAS, the funding and implementation requirements of the Third
Amendment have been completed; and
2
WHEREAS, with respect to the Second Amendment, while the previously
approved funding was not to exceed Three Million One Hundred Thousand and no/100
Dollars ($3,100,000.00)for approximately 138 parking spaces, but not less than 125 nor
more than 175, in the parking structure/garage, which spaces were to be in addition to
the 250 spaces for use by the Library and City Hall, the CRA, on July 20, 2010, has now
requested RCP funding for an additional 15 spaces, which raises the total number of
spaces in support of private redevelopment from 175 to 190 spaces in a new parking
structure of 440 total spaces; and
WHEREAS, based upon the July 20, 2010 request of the CRA, the lower actual
cost of construction and the change to 440 parking spaces, the County has determined
that the City and the CRA have provided sufficient documentation to support a loan
convertible to a grant for the subject 190 parking spaces, based on similar loan-to-grant
conversion provisions, with a 5-year interest-free mechanism, to those already provided
in the First Amendment, the Second Amendment (Parking Garage Funds) and the Third
Amendment(Parcel 109 Reimbursement now completed); and
WHEREAS, based on the lower cost and change to the 440 parking spaces, the
proportional cost for the now 190 parking spaces is Two Million Five Hundred Ninety
Thousand Nine Hundred Nine and no/100 Dollars ($2,590,909.00), which amount will
be processed for disbursement by the County upon approval and execution of this
Fourth Amendment and contemporaneous execution of a Loan Agreement and
Promissory Note, based on the approved funding mechanism previously utilized in the
First, Second and Third Amendments; and
WHEREAS, on July 20, 2010, the CRA also requested RCP funding related to
the parking garage for a security system and gate-arm entry system; and
WHEREAS, the City and the CRA have provided sufficient documentation to
support a loan convertible to a grant for the subject security system in the amount of
One Hundred Forty Thousand and no/100 Dollars ($140,000.00), based on similar loan-
to-grant conversion provisions, with a 5-year interest-free mechanism, to those already
provided in the First Amendment, the Second Amendment (Parking Garage Funds) and
the Third Amendment (Parcel 109 Reimbursement now completed) and which amount
will be processed for disbursement by the County upon approval and execution of this
Fourth Amendment and contemporaneous execution of a Loan Agreement and
Promissory Note; and
WHEREAS, the County will not, to date, disburse any RCP funds for the gate-
arm entry system until the City and the CRA have provided sufficient documentation,
which documentation shall include executed contracts, to support a loan convertible to
a grant for the subject gate-arm entry system in an amount not to exceed Two Hundred
Seventy-Three Thousand Seven Hundred Ninety and no/100 Dollars ($273,790.00),
based on similar loan-to-grant conversion provisions, with a 5-year interest-free
mechanism, to those already provided in the First Amendment, the Second Amendment
3
(Parking Garage Funds) and the Third Amendment (Parcel 109 Reimbursement now
completed) and which amount will be processed for disbursement by the County upon
review of such documentation and execution of a Loan Agreement and Promissory
Note; and
WITNESSETH, that for and in consideration of the mutual covenants and
agreements contained herein, the County, the City and the CRA agree as follows:
1. The truth and accuracy of each 'WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
2. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.8 The total County funding amount from the Redevelopment Capital
Program payable to the CRA, for the Parcel 109 Reimbursement and
Parking Garage Funds, as redefined pursuant to this Fourth Amendment,
together with the security system and pate-arm entry system and such
future project(s) that will be the subject of future application(s) by the CRA
to the County and future amendments resulting therefrom, provided such
future amendments are executed on or before February 21, 2011, shall
not exceed the sum of Six Million Three Hundred Forty-Five Thousand
Eight Hundred Sixty-Six and no/100 Dollars ($6,345,866.00). All amounts
paid by the County shall continue to be deposited into the Redevelopment
Trust Fund established by the City or the CRA and expended solely as
authorized by the Act and the Interlocal Agreement, as amended.
3. Section 4 of the Dania Beach Interlocal Agreement, as created by paragraph 7 of
the First Amendment, and as further amended by the Second and Third
Amendments, and in addition and similar to the provisions of the Third
Amendment, is hereby further amended and supplemented to read, specifically
regarding the Parking Garage Funds pursuant to the provisions of the Second
Amendment, as follows:
4.0 COUNTY FUNDING OF INFRASTRUCTURE IMPROVEMENTS
4.1 The Parking Garage Funds, as defined in the Second Amendment
with funding for the actual cost not to exceed Three Million One
Hundred Thousand and no/100 Dollars ($3 100 000.00) for
approximately 138 spaces, but not less than 125 spaces nor more
than 175 spaces, which spaces are in addition to 250 spaces for
use by the Library and City Hall, are hereby redefined to include an
additional 15 spaces, which raises the total number of parking
spaces in support of private redevelopment from 175 to 190 spaces
in a parking structure of 440 spaces. Based on a lower per space
4
cost, the proportional cost of the 190 spaces is Two Million Five
Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00), which will be processed for disbursement by the
County upon approval of this Fourth Amendment and execution of
appropriate Loan Agreement(s) and Promissory Note(s). In
addition to this amount, the Parking Garage Funds shall include an
additional One Hundred Forty Thousand and no/100 Dollars
($140,000.00), reguested b the he City/CRA, for a security system for
the parking garage, to be processed for disbursement upon
approval of this Fourth Amendment and execution of appropriate
Loan Agreement(s) and Promissory Note(s), and further, an
amount equal to the actual cost not to exceed Two Hundred
Seventy-Three Thousand Seven Hundred Ninety and no/100
Dollars ($273,790.00) for a gate-arm entry system, to be disbursed
by the County after appropriate documentation is presented.
including a contract, duly reviewed by the County, together with
execution of an additional Loan Agreement(s) and Promissory_
Notes .
The differential between the initial County commitment for the
Parking Garage Funds of Three Million One Hundred Thousand
and no/100 Dollars ($3,100,000.00) and the funding for the now
redefined Parking Garage Funds totaling Three Million Four
Thousand Six Hundred Ninety-Nine and no/100 Dollars
($3,004,699.00). is Ninety-Five Thousand Three Hundred One and
no/100 Dollars ($95,301.00), which sum shall be added to the Nine
Hundred Eleven Thousand Six Hundred Sixty-Six and no/100
Dollars ($911,666.00) differential remaining after the Third
Amendment, totaling One Million Six Thousand Nine Hundred
Sixty-Seven and no/100 Dollars ($1,006,967.00). and shall be
available to the CRA for future proiects that will be the subject of
future application(s) by the CRA to the County and future
amendments resulting therefrom, provided such future
amendments must be executed on or before February 21, 2011.
Should the actual cost of the gate-arm entry system be less than
the not to exceed amount of Two Hundred Seventy-Three
Thousand Seven Hundred Ninety and no/100 Dollars
($273,790.00), the difference will be added to the amount available
to the CRA for future proiects.
4.2 The County funding will be exercised as to the Parking Garage
Funds, as redefined herein, only after submission by the City and/or
CRA to the County of an application therefore, including an
implementation schedule and critical path timeline, which the
County acknowledges have been submitted.
5
County funding for any future public improvements will be exercised
only after submission by the City and/or CRA to the County of an
application and documentation therefore, including an
implementation schedule and critical path timeline.
4.3 In addition to the provisions of the Third Amendment for the Parcel
109 Reimbursement, tThe County will lend the actual cost not to
exceed $3,1 00,990 Three Million Four Thousand Six Hundred
Ninety-Nine and no/100 Dollars ($3,004,699.00), for ne-less-than
190 spaces of all spaces in
the Parking Garage in excess of 250 spaces, at a projected cost of
$22,463.77 Thirteen Thousand Six Hundred Thirty-Six and 36/100
Dollars ($13,636.36) per space, a security system and a gate-arm
entry system, as more fully provided in the Applisatiee
documentation submitted therefore.
4.4
emesated
The County loan(s) of the Parking Garage Funds for the 190
parking spaces ($2,590,909) and the security system ($140 000.00)
shall be processed for disbursement within thirty (30) days of
execution of this Fourth Amendment, Loan Agreements) and
Promissory Note(s) by appropriate parties thereto, and the not to
exceed amount of Two Hundred Seventy-Three Thousand Seven
Hundred Ninety and no/100 Dollars ($273,790.00) for the gate-arm
entry system will be disbursed when appropriate documentation is
submitted, duly reviewed by the County, and a Loan Agreement
and Promissory Note are executed.
4.7 In addition and similar to the provisions of the Third Amendment for
the Parcel 109 Reimbursement loan. Section 4.7 of the Second
Amendment related to the Parking Garage Funds is amended as
follows.
The County shall provide a grantUs on the Parking Garage Funds,
as redefined herein, loan Us up to the amountUs of the original
Parking Garage Funds loan(s) if both of the following conditions are
met: 1) all Parking Garage improvements (parking garage, security
system, and gate-arm entry system) associated with the loan(s) are
completed within five (5) years from the effective date of this
6
Sesend Fourth Amendment or lesser timeframe, if any, provided in
the Library Agreement, and 2) the City/CRA demonstrates that the
County's share of the revenue generated by the net increase in the
tax base due to specific private redevelopment projects within the
Dania Beach RCP Redevelopment Area boundaries over 20 years
(measured from the effective date of the First Amendment dated
February 21, 2006) is expected to equal or exceed the amount of
the original Parking Garage Funds loan(s).
4.7.1 If conditions 1) and 2) of Section 4.7 are met, the Parking
Garage Funds loan(s) shall convert to a grant(s), through
formal request by the City/CRA, as follows: 1) one-third of
the amount of the loan(s) or one-third of the County's share
of the revenue generated by the expected net increase in the
tax base due to specific private redevelopment project(s),
whichever is less, will convert to a grant(s) at the time of the
approval of the requisite permitting for the private
redevelopment project(s), and appropriate documentation of
the completion of the associated Parking Garage
improvements (parking garage, security system and gate-
arm entry system); 2) an additional one-third of the amount
of the loan(s) or one-third of the County's share of the
revenue generated by the expected net increase in the tax
base due to specific private redevelopment project(s),
whichever is less, will convert to grant(s) at the time when
the City/CRA provides documentation to the County that
50% of the total project floors are erected; and, 3) the
remaining one-third of the amount of the loan(s) or one-third
of the County's share of the revenue generated by the
expected net increase in the tax base due to specific private
redevelopment project(s), whichever is less, will convert to a
grant(s) at the time of the completion of the private
redevelopment project(s) evidenced by the issuance of all
applicable Certificates of Occupancy.
4.8 In addition and similar to the provisions of the Third Amendment
Section 4.8 of the Second Amendment is amended as follows
If conditions 1) and 2) of Section 4.7 herein are not met, the
Parking Garage Funds loan(s), as redefined by this Fourth
Amendment, must be repaid to the Redevelopment Capital
Program by the City or CRA over a 15-year period commencing at
the end of the initial five-year interest-free period, as-provided-by
herein, with interest at the Municipal Market Data
(MMD) "A" revenue bond rate as in effect at the time repayment
begins. In no event shall the term of the loan(s) exceed twenty (20)
7
years: five years interest free, and up to 15 years at the MMD "A"
revenue bond rate.
4.9 In no event shall the total amount of County grant(s) and loan(s) for
the Parcel 109 Reimbursement, Parking Garage Funds, as
redefined by this Fourth Amendment , and any future project(s) that
will be the subject of future application(s) by the CRA to the County
and future amendments resulting therefrom, which must be
executed on or before February 21, 2011, exceed Six Million Three
Hundred Forty-Five Thousand Eight Hundred Sixty-Six and no/100
Dollars $6,345,866.00 .
4.11
The calculation of
the net increase in the tax base over 20 years, which is Condition 2
of Section 4.7 herein, is as follows:
4.11.1 The net present value of the County's share of the revenue
generated by the net increase in the tax base from all private
redevelopment projects within the Dania Beach RCP
Redevelopment Area boundaries shall be calculated based
on the following parameters:
Estimated Project Value: Project costs (Land & Improvements)
Property Assessment Rate: 85% of Project Cost
Collection Rate: 95%
Property Appreciation Rate: 4%
Payback Term: 20 Years from the effective date of the
First Amendment, February 21, 2006,
but may be less than 20 years
depending on the year the private
redevelopment project(s) become
part of the tax base.
County Millage: Effective County Millage at the time of
grant consideration
Discount Rate: The interest rate from the table of "A"
General Obligation yields produced
by "Municipal Market Data" and
8
published in the Bond Buyer for the
20-year maturity in the proposed
project financing or funding plan. The
actual rate used shall be the interest
rate published within five (5) days
prior to the date of submittal of the
request for grant funds by the
City/CRA to the County.
4.11.2 The net increase in the tax base is the difference between
the assessed (85%) value of the various redevelopment
projects including land and improvements, and the taxable
value of the existing property including land and
improvements as ^f the date of this, Third AmenrLmnn4 If a
property was acquired by the County, the City or the CRA for
the purpose of redevelopment, within the last 4 years, the
taxable value will be the latest available taxable value
increased annually by the growth in the tax base within the
Dania Beach RCP Redevelopment Area.
4. Section 5 of the Dania Beach Interlocal Agreement, as created by paragraph 8 of
the First Amendment, and further amended by paragraph 5 of the Second and
Third Amendments, shall remain unchanged and its provisions fully applicable to
this Fourth Amendment.
5. Section 6 of the Dania Beach Interlocal Agreement, as created by paragraph 9 of
the First Amendment and amended by paragraph 6 of the Second and Third
Amendments, shall remain unchanged and its provisions fully applicable to this
Fourth Amendment.
6. Section 4.0, MISCELLANEOUS of the Dania Beach Interlocal Agreement, as
amended by paragraph 10 of the First Amendment and paragraph 7 of the
Second and Third Amendments, as applicable to this Fourth Amendment, is
hereby amended to read as follows:
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this ThiFd Fourth Amendment
shall be on the date it is fully executed by the parties.
7.2 Joint Preparation: The preparation of this ThiFd Fourth Amendment
has been a joint effort of the Parties hereto and the resulting
document shall not, solely as a matter of judicial construction, be
construed more severely against one of the Parties than the other.
9
7.3 Merger: The Dania Beach Interlocal Agreement, as amended,
incorporates and includes all prior negotiations, correspondence,
agreements or understandings applicable to the matter contained
herein; and the Parties agree that there are no commitments,
agreements, or understandings concerning the subject matter of
this Interlocal Agreement, as amended, that are not contained in
this document. Accordingly, the Parties agree that no deviation
from the terms hereof shall be predicated upon any prior
representations or agreements, whether oral or written. It is further
agreed that no change, amendment, alteration or modification in
the terms and conditions contained herein shall be effective unless
contained in a written document executed with the same formality
and of equal dignity herewith by all Parties to the Dania Beach
Interlocal Agreement, as amended.
7.4 Assignment: The respective obligations of the Parties set forth in
the Dania Beach Interlocal Agreement, as amended, shall not be
assigned, in whole or in part, without the written consent of the
other party.
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of this Third Fourth
Amendment, by the governing body of the City/CRA and the
County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file the Dania
Beach Interlocal Agreement, and amendments thereto, with the
Clerk of Broward County, Florida, as required by Section
163.01(11), Florida Statutes.
7.6 Contract Administrators: The Contract Administrators for the Dania
Beach Interlocal Agreement and amendments thereto are the
Dania Beach City Manager, or designee, and the County
Administrator, or designee. In the implementation of the terms and
conditions of the Dania Beach Interlocal Agreement, as amended,
as contrasted with matters of policy specifically established by the
respective commissioners through resolutions and/or ordinances,
all parties may rely upon instructions or determinations made by the
respective Contract Administrators.
7.7 Notices: Whenever either party desires to give notice to the other,
such notice must be in writing and sent by United States mail,
return receipt requested, courier evidenced by a delivery receipt,
facsimile evidenced by a delivery receipt, or by an overnight
express delivery service evidenced by a delivery receipt, addressed
10
to the party for whom it is intended at the place last specified; and
the place for giving notice shall remain such until it shall have been
changed by written notice in compliance with the provisions of this
section. For the present, the Parties designate the following as the
respective places for giving notice. Notice shall be effective upon
delivery as evidenced by a delivery receipt.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and Growth
Management Department
Room 329B, Governmental Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33304
7.8. Governing Law and Venue: The Dania Beach Interlocal Agreement
and amendments thereto shall be governed, construed and
controlled according to the laws of the State of Florida without
regard to its conflict of laws provision. Any claim, objection or
dispute arising out of the terms of the Dania Beach Interlocal
Agreement and amendments thereto shall be litigated in the
Seventeenth Judicial Circuit in and for Broward County, Florida.
7.9 Severability: In the event a portion of the Dania Beach Interlocal
Agreement and amendments thereto is found by a court of
competent jurisdiction to be invalid, the remaining provisions shall
continue to be effective unless the City and/or the CRA or the
County elect to terminate the Dania Beach Interlocal Agreement.
11
An election to terminate the Dania Beach Interlocal Agreement, as
amended, based upon this provision shall be made within seven (7)
calendar days after the court's determination becomes final. For
the purposes for this section, "final" shall mean the expiration of
time within which to file an appeal or the conclusion of any
appellate proceeding and the granting of an order. In such event,
the Parties agree to cooperate fully with the other to effectuate a
smooth transaction of services.
7.10 Amendments: Except as expressly authorized in the Dania Beach
Interlocal Agreement or amendments thereto, no modification,
amendment, or alteration in the terms or conditions contained
herein shall be effective unless contained in a written document
prepared with the same or similar formality as the Dania Beach
Interlocal Agreement and executed by the Parties.
7.11 Third Party Beneficiaries: Neither City, County nor CRA intend that
any person shall have cause of action against either of them as a
third party beneficiary under the Dania Beach Interlocal Agreement
or amendments thereto. Therefore, the Parties agree that there are
no third party beneficiaries to the Dania Beach Interlocal
Agreement and that no third party shall be entitled to assert a claim
against either of them based upon the Dania Beach -Interlocal
Agreement or amendments thereto. The Parties expressly
acknowledge that it is not their intent to create any rights or
obligations in any third person or entity under the Dania Beach
Interlocal Agreement or amendments thereto.
7.12 Force Maieure: Unless otherwise governed by the Dania Beach
Interlocal Agreement or amendments thereto, or by federal or state
law or regulations, neither party shall be obligated to perform under
the Dania Beach Interlocal Agreement or amendments thereto, if
such performance is prevented by fire, hurricane, earthquake,
explosion, wars, sabotage, accident, flood, act of God, riot or civil
commotion, or by reason of any other matter or condition beyond
the control of either party, and which cannot be overcome by
reasonable diligence and without unusual expense. In no event
shall lack of funds on the part of either party be deemed Force
Majeure. Either party desiring to rely upon such a cause shall,
when the cause arises, give prompt written notice thereof to the
other party and, when the cause ceases to exist, shall give prompt
written notice thereof to the other party. Both parties agree to use
their best efforts to minimize the effects of such cause that would
give rise to the operation of this provision.
12
7.13 Nondiscrimination: The decision of the Parties hereto regarding the
delivery of services under the Dania Beach Interlocal Agreement or
amendments thereto, shall be made without regard to or
consideration of race, age, religion, color, gender, sexual
orientation (Broward County Code, Chapter 161/2), national origin,
marital status, physical or mental disability, political affiliation, or
any other factor which cannot be lawfully used as a basis for
service delivery.
7.14 Gender: Whenever any words are used in the Dania Beach
Interlocal Agreement or amendments thereto, in the masculine
gender, they shall be construed as though they were also used in
the feminine or neuter gender in all situations where they would so
apply, and whenever any words are used in this Interlocal
Agreement or amendments thereto in the singular form, they shall
be construed as though they were also used in the plural form in all
situations where they would so apply.
7.15 The Parties shall not engage in or commit any discriminatory
practice in violation of the Broward County Human Rights Act
(Broward County Code, Chapter 16Y2) in performing any services
pursuant to this Interlocal Agreement or amendments thereto.
7.16 The Parties agree that an extraordinary majority vote (415) of the
Dania City Commission and the CRA, as applicable, shall be
required in order to institute any eminent domain proceeding or to
acquire any property exceeding the appraised value within the
Community Redevelopment area.
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this Third Fourth Amendment to the original
Dania Beach Interlocal Agreement and the original Dania Beach
Interlocal Agreement, First Amendment w,, Second Amendment or
Third Amendment thereto, the terms and provisions of this Third
Fourth Amendment shall control to the extent of any such conflict or
ambiguity.
7.18 That the original Dania Beach Interlocal Agreement, as amended
by the First Amendment, Second Amendment apAi Third
Amendment and Fourth Amendment thereto, executed by the
Parties shall remain in full force and effect except as specifically
amended herein.
7.19 This Fourth Amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
13
7.20 The City and/or the CRA shall reasonably encourage the
participation of, and utilization of, small and minority businesses,
specifically, but not limited to, a financial advisor, bond counsel,
underwriters' counsel and underwriting services in the development
of the redevelopment projects of the City.
(Remainder of page intentionally left blank)
14
IN WITNESS WHEREOF, the Parties hereto have made and executed this
FOURTH AMENDMENT to the Interlocal Agreement on the respective dates under
each signature: BROWARD COUNTY through its BOARD OF COUNTY
COMMISSIONERS, signing by and through its Mayor or VicU
Mayor, authorized to
execute same by Board action on the --day of Se 04e lY1 ,, , 2010; and
the CITY OF DANIA BEACH, signing by and through its Mayor, duly authorized to
execute same and the DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY,
signing by and through its Chair, duly authorized to execute same.
COUNTY
ATTEST: BROWARD OUNTY, through its
BOARD 0 COU COMM SI RS
County Administrator'fv .J'�,'ri "-By
Ex-Officio Clerk of B,v'fo.t-�� �,� °;� - Mayor
of County Commissrdnesrs o 1,31
s ,
Broward County
day of_Q/�-Q� �jQ� , 2010
Approved as to form by:
Office of County Attorney
Broward County, Florida
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Facsimile: (954) 357-6968
By_ i�a� .
Assistant Co my Attorney
day of , 2010
15
FOURTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD
COUNTY, CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
ejx) By
City Clerk , ayo Pyorr-
missioner
day of + 2010
Approved as to form:
B
V City Attorney
2010
P4 day of So=
FOURTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD
COUNTY, CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSES:
DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
. Manager
l h By
Chairman
City Clerk
1-q day of �ClT /�7T' 't� , 2010
Approved as to form:
DANIA B EAC H
COMMUNITY REDEVELOPMENT AGENCY By_ 6
, City Attorney
J'q day of SET 7-E)r7L, � , 2010
CLK/It
#10-037
09/10/10
G:1DIV21CLK1CLK101AgreementsMania Beach CRA Fourth Amendment 090910.Doc
17
FIFTH AMENDMENT TO DANIA BEACH INTERLOCAL AGREEMENT
This is the Fifth Amendment to the Dania Beach Interlocal Agreement ("Fifth
Amendment"), made this day of February, 2011, by and between the following:
Broward County, Florida
a political subdivision of the State of Florida
(the "County"),
and
City of Dania Beach, Florida, a municipal
corporation under the laws of the State of
Florida (the "City"),
and
The Dania Beach Community Redevelopment
Agency, or its successor, a public body
corporate and politic (the "CRA").
WHEREAS, on April 20, 2004, the County, the City and the CRA entered into an
Interlocal Agreement ("Dania Beach Interlocal Agreement" or "Interlocal Agreement")
pursuant to which it was agreed that the County method of investment in any
redevelopment activities proposed by the City and/or the CRA, during the term of the
Interlocal Agreement and any amendments thereto, and pursuant to the adopted Dania
Beach Community Redevelopment Plan, would be implemented pursuant to the
requirements and criteria of the funding program, established by the County, known as
the Redevelopment Capital Program ("RCP"); and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
and extension to the term of the Interlocal Agreement would be the submission by the
City and/or the CRA to the County, of a proposed community redevelopment project(s)
within the term of the Interlocal Agreement and the successful negotiations by and
between the City, the CRA and the County pertaining to same; and
WHEREAS, pursuant to the Interlocal Agreement, the basis of any amendment
will include an implementation schedule and critical path timeline for the proposed
community redevelopment project(s);
WHEREAS, on February 21, 2006, the County, the City and the CRA entered
into the First Amendment to the Dania Beach Interlocal Agreement (the "First
Amendment"), pursuant to which the County agreed to fund by way of one or more
loans which, subject to the terms and conditions thereof, could be converted to grant(s),
for certain infrastructure improvements as described in the First Amendment within the
Dania Beach RCP Redevelopment Area up to the total amount of Six Million Three
Hundred Forty-five Thousand Eight Hundred Sixty-six and no/100 Dollars
($6,345,866.00)from the RCP; and
WHEREAS, the City and/or the CRA thereafter subsequently proceeded to
complete the infrastructure improvements identified in the First Amendment, utilizing its
own funds and other funding sources, and did not utilize any of the Six Million Three
Hundred Forty-five Thousand Eight Hundred Sixty-six and no/100 Dollars
($6,345,866.00) from the RCP committed under the First Amendment; and
WHEREAS, the City and the CRA then identified additional projects or
improvements to replace those identified in the First Amendment, and sought to utilize
the funds committed under the First Amendment for such purposes; and
WHEREAS, the City and the CRA then sought funding for the additional projects,
specifically, for the reimbursement of the costs of acquisition of the property commonly
known as Parcel 109, in the amount of Two Million Three Hundred Thirty-four Thousand
Two Hundred and no/100 Dollars ($2,334,200.00) (the "Parcel 109 Reimbursement")
and funding for a portion of a parking structure or garage, related to new private
redevelopment, in the amount not to exceed Three Million One Hundred Thousand and
no/100 Dollars ($3,100,000.00), adjacent to City Hall and the Library, which funds are
hereinafter referred to as the "Parking Garage Funds," together with such future
project(s) that would be the subject of future application(s) by the CRA to the County
and future amendments resulting therefrom, provided such future amendments are
executed on or before February 22, 2011, not to exceed the total sum of Six Million
Three Hundred Forty-five Thousand Eight Hundred Sixty-six and no/100 Dollars
($6,345,866.00) contemplated by the First Amendment; and
WHEREAS, the County, the City, and the CRA, having negotiated the
parameters for such Parking Garage Funds and the terms and conditions thereof,
following Board approval on February 24, 2009, entered into the Second Amendment to
Dania Beach Interlocal Agreement (the "Second Amendment") to effectuate the same;
and
WHEREAS, pursuant to the Second Amendment, the Board approved funding
not to exceed Three Million One Hundred Thousand and no/100 Dollars
($3,100,000.00) to fund approximately 138 parking spaces, but not less than 125 nor
more than 175, in a parking structure/garage. The RCP funds were to be provided as a
five-year interest-free loan(s) which could convert to a grant(s) with conditions similar to
those for the Parcel 109 Reimbursement, which funding has been addressed in the
Third Amendment to the Dania Beach Interlocal Agreement (the "Third Amendment")
entered into on March 24, 2009, by and between the County, the City and the CRA; and
WHEREAS, the funding and implementation requirements of the Third
Amendment have been completed; and
2
WHEREAS, with respect to the Second Amendment, while the previously
approved funding for the Parking Garage Funds was not to exceed Three Million One
Hundred Thousand and no/100 Dollars ($3,100,000.00) for approximately 138 parking
spaces, but not less than 125 nor more than 175, in the parking structure/garage, which
spaces were to be in addition to the 250 spaces for use by the Library and City Hall, the
CRA, on July 20, 2010, requested RCP funding for an additional 15 spaces, which
raised the total number of spaces in support of private redevelopment from 175 to 190
spaces in a new parking structure of 440 total spaces; and
WHEREAS, on September 28, 2010, the County, the City and the CRA entered
into the Fourth Amendment to the Dania Beach Interlocal Agreement (the "Fourth
Amendment") to provide funding for the proportional cost of the 190 parking spaces in
the new parking structure of 440 spaces, in the amount of Two Million Five Hundred
Ninety Thousand Nine Hundred Nine and no/100 Dollars ($2,590,909.00), which
amount was disbursed by the County upon approval and execution of the Fourth
Amendment and contemporaneous execution of a Loan Agreement and Promissory
Note, based on similar loan-to-grant conversion provisions, with a 5-year interest-free
mechanism, to those already provided in the First Amendment, the Second Amendment
(Parking Garage Funds, as amended by the Fourth Amendment) and the Third
Amendment(Parcel 109 Reimbursement now completed); and
WHEREAS, on July 20, 2010, the CRA also requested RCP funding related to
the parking garage for a security system and gate-arm entry system; and
WHEREAS, the Fourth Amendment also provided for a loan convertible to a
grant for the parking garage security system in the amount of One Hundred Forty
Thousand and no/100 Dollars ($140,000.00), based on similar loan-to-grant conversion
provisions, with a 5-year interest-free mechanism, to those already provided in the First
Amendment, the Second Amendment (Parking Garage Funds, as amended by the
Fourth Amendment) and the Third Amendment (Parcel 109 Reimbursement now
completed) and which amount was disbursed by the County upon approval and
execution of the Fourth Amendment and contemporaneous execution of a Loan
Agreement and Promissory Note; and
WHEREAS, the County will not, to date, disburse any RCP funds for the gate-
arm entry system until the City and the CRA have provided sufficient documentation,
which documentation includes an executed contract(s), to support a loan convertible to
a grant for the subject gate-arm entry system in an amount not to exceed Two Hundred
Seventy-three Thousand Seven Hundred Ninety and no/100 Dollars ($273,790.00),
based on similar loan-to-grant conversion provisions, with a 5-year interest-free
mechanism, similar to those already provided in the First Amendment, the Second
Amendment (Parking Garage Funds, as amended by the Fourth Amendment) the Third
Amendment (Parcel 109 Reimbursement now completed), and the Fourth Amendment
and which amount will be processed for disbursement by the County upon review of
such documentation and execution of a Loan Agreement and Promissory Note, which
3
shall occur within ninety (90) days of the effective date of this Fifth Amendment or the
City and CRA agree to relinquish claim to said funding; and
WHEREAS, the term of the Interlocal Agreement, as amended, expires on
February 22, 2011, the County, the City and the CRA hereby agree that the balance of
the RCP funds allotted by the County, in the amount of One Million Six Thousand Nine
Hundred Sixty-seven and no/100 Dollars ($1,006,967.00), plus any funds remaining if
the actual cost of the gate-arm entry system is less than the not-to-exceed commitment
of $273,790 or if the gate-arm entry system contract is not signed within ninety (90)
days of this Fifth Amendment, shall remain with the County, and the City and the CRA
shall have no further claim to such monies after February 22, 2011; and
WHEREAS, notwithstanding the expiration of the Interlocal Agreement and
amendments thereto, the Loan Agreements and Promissory Notes executed by and
among the County, the City and CRA pursuant thereto shall survive and establish
provisions for repayment or conversion to grants.
WITNESSETH, that for and in consideration of the mutual covenants and
agreements contained herein, the County, the City and the CRA agree as follows:
1. The truth and accuracy of each "WHEREAS" clause set forth above is
acknowledged by the parties and the recitals contained are incorporated herein.
2. Section 1.8 of the Dania Beach Interlocal Agreement is hereby amended to read
as follows:
1.8 The total County funding amount from the Redevelopment Capital
Program payable to the CRA, for the Parcel 109 Reimbursement and
Parking Garage Funds, as redefined pursuant to this the Fourth
Amendment, together with the security system and gate-arm entry system
and such future project(s) that will be the subject of future application(s) by
the CRA to the County and future amendments resulting therefrom,
provided such future amendments are executed on or before February 24-
22, 2011, shall not exceed the sum of Six Million Three Hundred Forty-five
Thousand Eight Hundred Sixty-six and no/100 Dollars ($6,345,866.00).
All amounts paid by the County shall continue to be deposited into the
Redevelopment Trust Fund established by the City or the CRA and
expended solely as authorized by the Act and the Interlocal Agreement, as
amended.
Since the term of the Dania Beach Interlocal Agreement and all five
amendments thereto expires on February 22, 20111 unless a new public
improvement has been presented to the County for approval and
disbursement of funds as of February 22, 2011. the County, the City, and
the CRA hereby agree that the balance of the RCP funds allotted by the
County, in the amount of One Million Six Thousand Nine Hundred Sixty-
4
seven and no/100 Dollars ($1,006,967.00), plus any funds remaining if the
actual cost of the gate-arm entry system is less than the not-to-exceed
commitment of $273,790 or if the gate-arm entry system contract is not
signed within ninety (90) days of execution of this Fifth Amendment, shall
remain with the County, and the City and the CRA shall have no further
claim to such monies, except for the not-to-exceed commitment of Two
Hundred Seventy-three Thousand Seven Hundred Ninety and no/100
Dollars ($273,790.00) for the gate-arm entry system, after February 22,
2011.
3. Section 4 of the Dania Beach Interlocal Agreement, as created by paragraph 7 of
the First Amendment, and as further amended by the Seconds Md Third, and
Fourth Amendments, and in addition and similar to the provisions of the Third
Amendment, is hereby further amended and supplemented to read, specifically
regarding the Parking Garage Funds pursuant to the provisions of the Second
and Fourth Amendments, as follows:
4.0 COUNTY FUNDING OF INFRASTRUCTURE IMPROVEMENTS
4.1 The Parking Garage Funds, as defined in the Second Amendment,
with funding for the actual cost not to exceed Three Million One
Hundred Thousand and no/100 Dollars ($3,100,000.00) for
approximately 138 spaces, but not less than 125 spaces nor more
than 175 spaces, which spaces are in addition to 250 spaces for
use by the Library and City Hall, are hereby redefined to include an
additional 15 spaces, which raises the total number of parking
spaces in support of private redevelopment from 175 to 190 spaces
in a parking structure of 440 spaces. Based on a lower per space
cost, the proportional cost of the 190 spaces is Two Million Five
Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00), which well be pFeGessed feF disbuFsem was
disbursed by the County upon approval of this the Fourth
Amendment and execution of an appropriate Loan Agreementw
and Promissory Note(o. In addition to this amount, the Parking
Garage Funds shall includes an additional One Hundred Forty
Thousand and no/100 Dollars ($140,000.00), requested by the
City/CRA, for a security system for the parking garage, te—be
which was disbursed upon approval of
this the Fourth Amendment and execution of an appropriate Loan
Agreements and Promissory Note(s), and further, shall include an
amount equal to the actual cost not to exceed Two Hundred
Seventy-three Thousand Seven Hundred Ninety and no/100 Dollars
($273,790.00) for a gate-arm entry system, to be disbursed by the
County after appropriate documentation is presented, including a
contract signed within ninety (90) days of execution of this Fifth
Amendment, duly reviewed by the County, together with execution
5
of this Fifth Amendment and an additional Loan Agreement(s) and
Promissory Note.
The differential between the initial County commitment for the
Parking Garage Funds of Three Million One Hundred Thousand
and no/100 Dollars ($3,100,000.00) and the funding for the now
redefined Parking Garage Funds totaling Three Million Four
Thousand Six Hundred Ninety-nine and no/100 Dollars
($3,004,699.00), is Ninety-five Thousand Three Hundred One and
no/100 Dollars ($95,301.00), which sum shall be added to the Nine
Hundred Eleven Thousand Six Hundred Sixty-six and no/100
Dollars ($911,666.00) differential remaining after the Third
Amendment, totaling One Million Six Thousand Nine Hundred
Sixty-seven and no/100 Dollars ($1,006,967.00). plus any funds
remaining if the actual cost of the gate-arm entry system is less
than the not-to-exceed commitment of $273.790 or if the gate-arm
entry system contract is not signed within ninety (90) days of this
Fifth Amendment.
Dellam ($2:73,7-90.00), the d;#8FeRGe will be added to the ameMt.
ava
Since the term of the Dania Beach Interlocal Agreement and all five
amendments thereto expires on February 22, 2011. unless a new public
improvement has been presented to the Countv for approval and
disbursement of funds as of February 22, 2011, the County, the City and
the CRA hereby agree that the balance of the RCP funds allotted by the
County, in the amount of One Million Six Thousand Nine Hundred Sixty-
seven and no/100 Dollars ($1,006.967.00), plus any funds remaining if the
actual cost of the gate-arm entry system is less than the not-to-exceed
commitment of $273,790 or if the gate-arm entry system contract is not
signed within ninety (90) days of this Fifth Amendment, shall remain with
the County, and the City and the CRA shall have no further claim to such
monies, except for the not-to-exceed commitment of Two Hundred
Seventy-three Thousand Seven Hundred Ninety and no/100 Dollars
($273.790.00)for the gate-arm entry system, after February 22 2011.
4.4 The County loan(s) of the Parking Garage Funds for the 190
parking spaces ($2,590,909) and the security system ($140,000.00)
6
were disbursed within thirty
(30) days of execution of Ws the Fourth Amendment, and
applicable Loan Agreements and Promissory Notes by appropriate
parties thereto, and the not to exceed amount of Two Hundred
Seventy-three Thousand Seven Hundred Ninety and no/100 Dollars
($273,790.00)for the gate-arm entry system will be disbursed when
appropriate documentation is submitted, including a contract signed
within ninety (90) days of execution of this Fifth Amendment, duly
reviewed by the County, and this Fifth Amendment. a Loan
Agreement and Promissory Note are executed by appropriate
parties.
4.9 Pursuant to Section 1.8 herein, din no event shall the total amount
of County grants and loans for the Parcel 109 Reimbursement,
Parking Garage Funds, as redefined by the Fourth Amendment and
this Fifth Amendment.
hefeFe Feb/uwy 21, 20 1, exceed
($6,346,86 Five Million Three Hundred Thirty-eight Thousand
Eight Hundred Ninety-nine and no/100 Dollars ($5.338.899.00).
4.13 The County, the City, and the CRA agree that all loans approved
for funding through the Redevelopment Capital Program — Two
Million Three Hundred Thirty-four Thousand Two Hundred and
no/100 Dollars ($2.334.200.00) for acquisition of Parcel 109: Two
Million Five Hundred Ninety Thousand Nine Hundred Nine and
no/100 Dollars ($2.590.909.00) for one hundred ninety (190)
spaces in the Parking Garage: and One Hundred Forty Thousand
and no/100 Dollars ($140.000.00) for the security system - shall be
amended. The loan amendments and loan agreement for the gate-
arm entry system (to be executed in the future, if a contract is
signed within ninety (90) days of execution of this Fifth
Amendment) shall provide for full conversion(s) to grant(s), or
partial conversion(s) to grants) if the CountZs share of the
expected revenue generated by the net increase in the tax base
from private redevelopment groiect(s) is less than the original loan
amount(s). due to either partial completion of a specific private
redevelopment proiect(s), or completion of a specific private
redevelopment oroiect(s) that does not generate expected County
revenue equal to the full amount of the original loan. The
amount(s) converted to grant(s) may not exceed the County's share
of the expected revenue generated by the net increase in the tax
base from the specific private redevelopment proiect(s). Further,
the City and CRA must make formal request to the County for a
loan-to-grant conversion(s) and provide sufficient documentation to
support the conversion(s) to grant(s). Contemporaneously with this
Fifth Amendment, all Loan Agreements and Promissory Notes shall
be amended, as applicable, to document this understanding.
4.14 The County, the City and the CRA further understand that a
conversion(s) from a loan(s) to a arant(s) may occur at any time
during the 20-year loan period. However, should the conversion
take place after the 5-year interest-free period and repayment has
begun, the conversion to a grant(s) is only for the outstanding loan
balance (defined as the original loan less any conversions and
repayments) at the time of conversion, and interest accrued to that
date must be paid to the County. All interest paid shall be retained
by County. Contemporaneously with this Fifth Amendment, all
Loan Agreements and Promissory Notes shall be amended, as
applicable, to document this understanding.
4. Section 5 of the Dania Beach Interlocal Agreement, as created by paragraph 8 of
the First Amendment, and further amended by paragraph 5 of the Second and
Third Amendments, shall remain unchanged and its provisions fully applicable to
#his the Fourth Amendment and this Fifth Amendment.
5. Section 6 of the Dania Beach Interlocal Agreement, as created by paragraph 9 of
the First Amendment and amended by paragraph 6 of the Second and Third
Amendments, shall remain unchanged and its provisions fully applicable to this
the Fourth Amendment and this Fifth Amendment.
6. Section 4.0, MISCELLANEOUS of the Dania Beach Interlocal Agreement, as
amended by paragraph 10 of the First Amendment and paragraph 7 of the
Seconds and Third and Fourth Amendments, as applicable to this €euFth Fifth
Amendment, is hereby amended to read as follows:
7.0 MISCELLANEOUS
7.1 Effective Date: The effective date of this €eukh Fifth Amendment
shall be on the date it is fully executed by the parties.
7.2 Joint Preparation: The preparation of this €ssFth Fifth Amendment
has been a joint effort of the Parties hereto and the resulting
document shall not, solely as a matter of judicial construction, be
construed more severely against one of the Parties than the other.
8
7.5 Recordation/Filing: The County Administrator as the Ex-Officio
Clerk of the Broward County Board of County Commissioners is
hereby authorized and directed after approval of this €ems# Fifth
Amendment, by the governing body of the City/CRA and the
County and the execution thereof by the duly qualified and
authorized officers of each of the Parties hereto to file the Dania
Beach Interlocal Agreement, and amendments thereto, with the
Clerk of Broward County, Florida, as required by Section
163.0101), Florida Statutes.
7.17 That in the event of any conflict or ambiguity by and between the
terms and provisions of this FewFlh Fifth Amendment to the original
Dania Beach Interlocal Agreement and the original Dania Beach
Interlocal Agreement, First Amendment of, Second Amendment of
Third Amendment. or Fourth Amendment thereto, the terms and
provisions of this€euM Fifth Amendment shall control to the extent
of any such conflict or ambiguity.
7.18 That the original Dania Beach Interlocal Agreement, as amended
by the First Amendment, Second Amendment aAd,, Third
Amendment, aed Fourth Amendment. and Fifth Amendment
thereto, executed by the Parties shall remain in full force and effect
except as specifically amended herein.
7.19 This FeuFth Fifth Amendment may be executed in up to four (4)
counterparts, each of which shall be deemed to be an original.
(Remainder of paoe intentionally left blank)
9
IN WITNESS WHEREOF, the Parties hereto have made and executed this
FIFTH AMENDMENT to the Interlocal Agreement on the respective dates under each
signature: BROWARD COUNTY through its BOARD OF COUNTY COMMISSIONERS,
signing by and h�ugh its May�r.or Vice Mayor, authorized to execute same by Board
action on the day of '�-t'OAJ--tq:{ , 2011; and the CITY OF DANIA
BEACH, signing by and through its Mayor, duly authorized to execute same and the
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, signing by and through its
Chair, duly authorized to execute same.
COUNTY
ATTEST: BROWARD COUNTY, through its
BOARD OF COUNTY COMMISSIONERS
County Administrator and B
�O -
Ex-Officio Clerk of the Board Mayor
of County Commissioners of
Broward County
day of _ , 2011
Approved as to form by:
Andrew J. Meyers
Interim County Attorney
Office of County Attorney
Broward County, Florida
w
51 ca° Governmental Center, Suite 423
115 South Andrews Avenue
t
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Facsimile: (954) 357-6968
By
Carl L. Kitchner
Assistant County Attorney
-t?—,Aay of ��c�.r, - , 2011
10
FIFTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
CITY OF DANIA BEACH
ATTEST: DANIA BEACH, through its
By
,
City Clerk M or-Commissioner
)b day of FEr3 j A fZ\ 2011
Approved as to form:
1ty Manager
'S FIRST By '
City Attorney
-� day of r ✓ 2011
A� 1
FIFTH AMENDMENT TO INTERLOCAL AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
COMMUNITY REDEVELOPMENT AGENCY
WITNESSE
DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
pity Manjaer
By_
LZ i��2
Chairman
City Clerk
M-11 day ofii11 2011
DANIA BEACH Approved as to form:
COMMUNITY REDEVELO"noff"**CY
By
0ity Attorney
day of 2011
CLK/It/ccr
#11-037
2/16/2011
T� p
H�A38 AID U
V3030A TR3R"OJ3V3a9R YTIMUMMOD
EXHIBIT "B"
Promissory Note
U.S. $2,590,909.00 Fort Lauderdale, Florida
January g-b', 2011
PROMISSORY NOTE
FOR VALUE RECEIVED the undersigned, the CITY OF DANIA BEACH,
FLORIDA, a municipal corporation under the laws of the State of Florida, and the
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, or its successor, a public
body corporate and politic ("BORROWERS"), promise to pay to the order of BROWARD
COUNTY, FLORIDA, a political subdivision of the State of Florida (the "LENDER")
located at Governmental Center, 115 South Andrews Avenue, Fort Lauderdale, Florida
33301, the principal sum of Two Million Five Hundred Ninety Thousand Nine Hundred
Nine and no/100 DOLLARS ($2,590,909.00), (the "Principal') plus interest (the
"Interest") on the Principal after the end of the initial five (5) year interest-free period as
defined in Section two (2) below:
So long as no default has occurred in the Note, Interest shall be payable at the
Municipal Market Data MMD "A" revenue bond rate as in effect at the time repayment
begins. Upon default in this Note, Interest shall be payable at the per annum rate of
eighteen percent (18%). Interest shall accrue and be payable on an actual 360-day
basis.
1. This Note evidences a Loan by LENDER to BORROWERS for the sole
purpose of funding through the Broward County Redevelopment Capital Program for
funds for 190 spaces of the parking garage structure, in support of private
redevelopment, which spaces are in excess of the 250 spaces for Library and City Hall
uses, and which are expected to spur private redevelopment and are at an actual cost
- 1 -
of Two Million Five Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00), based on a projected cost of Thirteen Thousand Six Hundred Thirty-six
and 36/100 Dollars ($13,636.36) per space.
2. This Note evidences a Loan by LENDER to BORROWERS upon the
terms and subject to the terms and conditions set forth in the Dania Beach Interlocal
Agreement, as amended by the Fourth Amendment, which Fourth Amendment is
attached and made a part hereof as Exhibit "A" to the First Amendment to Loan
Agreement accompanying this Note.
3. This Note replaces and supersedes the previous Note executed by
BORROWERS on September 14, 2010, which Note was for the same, sole purpose of
funding through the Broward County Redevelopment Capital Program for 190 spaces of
the parking garage structure, in support of private redevelopment, which spaces are in
excess of the 250 spaces for Library and City Hall uses, and which are expected to spur
private redevelopment and are at the same actual cost of Two Million Five Hundred
Ninety Thousand Nine Hundred Nine Dollars ($2,590,909.00), based on a projected
cost of Thirteen Thousand Six Hundred Thirty-six and 36/100 Dollars ($13,636.36) per
space. The terms and conditions of the First amendment to Loan Agreement shall
govern herein.
4. The outstanding principal of the Note shall be due and payable as follows:
(a) No payments of interest or principal of the Loan shall be due within
the first five (5) years from the Effective Date of the original Loan
Agreement. In the event that the Loan does not convert to a grant
because the conditions stated in Section 2 of the First Amendment
- 2 -
to Loan Agreement have not been met, the Loan shall be repaid to
the LENDER by the BORROWERS over a fifteen (15) year period
commencing at the end of the initial five (5) year interest free
period, with the interest rate at the Municipal Market Data MMD "A"
revenue bond rate as in effect at the time repayment begins. In this
case, the maturity date shall be twenty (20) years or less from the
Effective Date of the original Loan Agreement. In no event, shall
the term of the Loan exceed twenty (20) years; five (5) years
interest free, and up to fifteen (15) years at the MMD "A" revenue
bond rate. One payment of Principal and Interest shall be made on
or before September 30t' of each year of the fifteen (15) -year
period, commencing September 30, 2016. An equal amount of
Principal, plus the interest accrued for the year, shall become
payable on each September 30, commencing September 30, 2016.
(b) This Note also provides, in furtherance of the conditions stated in
Section 2 of the accompanying First Amendment to Loan
Agreement, that there can be a full or partial conversion(s) to
grant(s) of the Loan throughout the term of the Loan. The resulting
amended loan amount would be the difference between the full
amount of the original Loan and the partial loan amount(s)
converted to a grant(s). If any loan-to-grant conversion occurs after
the 5-year interest free period and repayment has begun pursuant
to the terms herein, the amount available for conversion to a grant
-3 -
is the outstanding loan balance (defined as the original Loan less
any conversions and repayments) at the time of conversion, and
interest accrued to that date shall be paid to the County. All
interest shall be retained by County.
(c) This Note may be prepaid in whole or in part without penalty. Any
prepayment shall be accompanied by an amount equal to the
interest accrued thereon to the date of receipt of such prepayment
in collected funds.
5. All payments hereunder shall be made to LENDER's office at: Broward
County Environmental Protection and Growth Management Department, 115 South
Andrews Avenue, Room 329B, Fort Lauderdale, Florida, 33301, or such other place as
LENDER may from time to time designate in writing.
6. This Note shall be in default if any payment of Principal or Interest due
hereunder, and/or under the Loan Agreement, as amended, dated as of the date of this
Note, from BORROWERS to LENDER, is not paid as and when due, or if any event of
default occurs simultaneously, as such term is defined in the accompanying First
Amendment to Loan Agreement being entered into hereto. Upon default in this Note,
the LENDER, at its option, may declare the entire unpaid Principal balance of this Note,
together with accrued Interest, to be immediately due and payable without notice or
demand. In addition to payments of Interest and Principal, if there is a default in this
Note, the LENDER shall be entitled to recover from the BORROWER all of the
LENDER's costs of collection, including the LENDER's attorneys' fees and expenses
-4 -
(whether for services incurred in collection, litigation, or otherwise), and all other costs
incurred in connection therewith.
7. BORROWERS severally, irrevocably and unconditionally agree:
(a) that any suit, action or other legal proceeding arising out of or
relating to this Note may be brought at the option of the LENDER,
in a court of record of the State of Florida in Broward County, in the
United States District Court for the Southern District of Florida or in
any other court of competent jurisdiction; and
(b) consent to the jurisdiction of each such court in any such suit,
action or proceeding; and
(c) waive any objection which it or they may have to the loss of
revenue of any such suit, action or proceeding in any such courts.
8. All remedies and enforcement rights of the LENDER shall be cumulative,
and may be pursued separately or together as against the BORROWERS and LENDER
may resort to any one or more of the remedies afforded under this Note or Loan
Agreement, the Uniform Commercial Code of Florida, or under the laws of Florida,
neither to the exclusion of the others.
9. BORROWERS and LENDER hereby knowingly, irrevocably, voluntarily
and intentionally waive any right to a trial by jury in respect of any action, proceeding,
defense or counterclaim based on the Loan Agreement, as amended, or arising out of,
under or in connection with the First Amendment to Loan Agreement, this
accompanying Note to the First Amendment to Loan Agreement, or any other security
document, or any course of conduct, course of dealing, statements (whether verbal or
- 5 -
written) or actions of any party hereto or to any security document. This provision is a
material inducement for BORROWERS and LENDER entering into the subject
transaction.
THIS SPACE INTENTIONALLY LEFT BLANK
- 6 -
IN WITNESS WHEREOF, BORROWERS, CITY OF DANIA BEACH, FLORIDA,
and DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, have executed this
Note.
BORROWERS
WITNESSES: CITY OF DANIA BEACH, FLORIDA
Print Name: Robert Baldw' C. K. McElyea, ayor
/;V
Print Name: Tomas nsbro
STATE OF FLORIDA )
COUNTY OF BROWARD )
The foregoing instrument was acknowl"e -m is day of
January, 2011, by C. K. McElyea, as Mayor, wh`o is personally known to a or who has
produced as identification-.
�0-k)
Print Name: i;.ov;s� sTJLsO�
Notary Public, State of FloridaLarge
at L e
�i
Commission No.
•••aM18610p ••.•
�y Eton. y
ycp�c 10,?0
My Commission Expires:
YDD 941620 �?
• O
- 7 -
i
t
BORROWERS
WITNESSES: DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
Al 4414,re� l
Print Name: Robert Ba win C. K. M y , Chairman
n'
Print Nam : Th gs rJ. Ansbro
j
STATE OF FLORIDA )
COUNTY OF BROWARD }
The foregoing instrument was acknowledged before--m-e--this-- day of
January, 2011, by C. K. McElyea, as Chairman, who . personally known to e or who
has produced as identification.
ti+�►tn+rrir�� Print Name: ,-cu, sL.'
E S r/tsQ,,j*� Notary Public, State of Florida at Large
.• isslaN •. Commission No.
Gd y 1p •.
a ao �(t•
My Commission Expires:*? «•- ;*
so• #009416W �=
�+ST',V�o```���
CLK/It
1/24111
#11-053
gadiv2\dMc1k111agreementsWania beach\daniabeachpromissorynote parkingspace 012411.doc
- 8 -
INSTR# 112139888
OR BK 50595 Pages 1804-1825
RECORDED 03/0511 4 1 2.57:54 PM
BROWARD COUNTY COMMISSION
DEPUTY CLERK 2015
-FIRST SECOND AMENDMENT TO LOAN AGREEMENT #1,22 Pages
THIS FIRST SECOND AMENDMENT TO LOAN AGREEMENT is made and
entered into as of the day of 6l.i1C 'h . , W44 2014, by and between the City
of Dania Beach, Florida, a municipal corporation under the laws of the State of Florida,
whose post office address is 100 West Dania Beach Boulevard, Dania Beach, Florida
33004, and the Dania Beach Community Redevelopment Agency, or its successor, a
public body corporate and politic ("Borrowers"), whose post office address is 100 West
Dania Beach Boulevard, Dania Beach, Florida 33004, and Broward County, Florida (the
"Lender"), a political subdivision of the State of Florida, whose post office address is
115 South Andrews Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. BOFFOWeFs have submitt On February 22, 2011, Borrowers and Lender
entered into a First Amendment to Loan Agreement that was recorded in Official
Records Book 47745, Page 1000, of the Public Records of Broward County, Florida
regarding the documentation submitted by Borrowers to obtain County funding through
the Broward County Redevelopment Capital Program for a portion of a parking structure
or garage, in support of private redevelopment, adjacent to the Dania Beach City Hall
and Library. The documentation supports funding for 190 spaces of the parking garage
structure, which spaces are in excess of the 250 spaces for Library and City Hall uses,
and which are expected to spur private redevelopment and are at an actual cost of Two
Million Five Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00) (based on the projected cost of Thirteen Thousand Six Hundred
Thirty-six and 36/100 Dollars ($13,636.36) per space). The Lender has agreed to make
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- underscored type are additions. �` � i
PIRST SECOND AMENDMENT TO LOAN AGREEMENT
THIS FIRST SECOND AMENDMENT TO LOAN AGREEMENT is made and
entered into as of the 4._ day of , 2044 2014. by and between the City
of Dania Beach, Florida, a municipal corporation under the laws of the State of Florida,
whose post office address is 100 West Dania Beach Boulevard, Dania Beach, Florida
33004, and the Dania Beach Community Redevelopment Agency, or its successor, a
public body corporate and politic ('Borrowers"), whose post office address is 100 West
Dania Beach Boulevard, Dania Beach, Florida 33004, and Broward County, Florida (the
"Lender"), a political subdivision of the State of Florida, whose post office address is
115 South Andrews Avenue, Fort Lauderdale, Florida 33301.
RECITALS
A. On February 22, 2011. Borrowers and Lender
entered into a First Amendment to Loan Agreement that was recorded in Official
Records Book 47745, Page 1000, of the Public Records of Broward County, Florida.
regarding the documentation submitted by Borrowers to obtain County funding through
the Broward County Redevelopment Capital Program for a portion of a parking structure
or garage, in support of private redevelopment, adjacent to the Dania Beach City Hall
and Library. The documentation supports funding for 190 spaces of the parking garage
structure, which spaces are in excess of the 250 spaces for Library and City Hall uses,
and which are expected to spur private redevelopment and are at an actual cost of Two
Million Five Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00) (based on the projected cost of Thirteen Thousand Six Hundred
Thirty-six and 36/100 Dollars ($13,636.36) per space). The Lender has agreed to make
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underscored type are additions.
a Two Million Five Hundred Ninety Thousand Nine Hundred Nine and no/100 Dollars
($2,590,909.00) loan ("the Parking Garage Loan" or the "Loan") to the Borrowers, which
Loan shall be evidenced by a Promissory Note, as amended by the Amended and
Restated Note (the "Note") from Borrowers in favor of Lender.
B. Lender is willing to provide such Loan to Borrowers upon the terms and
subject to the conditions set forth in the Dania Beach Interlocal Agreement, as
amended, which Interlocal Agreement and Amendments are attached hereto and .,.,.,,�o
a „art he-reef a Exhibit "A," recorded as Composite Exhibit"A" in Official Records Book
50203. Page 606, of the Public Records of Broward County, Florida, (the "ILA") and the
conditions hereinafter set forth.
C. Lender is willing to provide such Loan to Borrowers upon the condition
that the proceeds shall be used by Borrowers solely for the 190 spaces of the parking
garage structure, in excess of the 250 spaces required for Library and City Hall uses,
and as further provided and defined in the Fourth Amendment and Fifth Amendment to
the Dania Beach Interlocal Agreement.
D. Borrowers and Lender, pursuant to the Fifth Amendment to the Dania
Beach Interlocal Agreement, have further agreed to include and clarify how the original
Loan can convert to a grant(s), in whole or in part, in the event that the County's share
of the expected revenue generated by the net increase in the tax base from specific
private redevelopment project(s) is less than the original loan amount, due to either
partial completion of a specific private redevelopment project(s), or completion of a
specific private redevelopment project(s) that does not generate expected County
revenue equal to the full amount of the original Loan. Borrowers shall make formal
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-2-
request to the Lender for a loan-to-grant conversion(s) and provide sufficient
documentation to support a loan-to-grant conversion(s).
NOW, THEREFORE, in consideration of the premises and of the mutual
covenants and agreements hereinafter set forth, the parties hereto do hereby agree as
follows:
1. Recitals. The Recitals hereinabove contained are true and correct and
are made a part hereof.
2. Loan. The Loan shall be evidenced by the -'Note, in
the form attached hereto as Exhibit"t3-' "A." The Note shall be funded in one lump sum
and shall evidence the Loan. The proceeds of the Loan shall be used by Borrowers
solely for the actual costs of or the reimbursement thereof, the 190 spaces of the
parking garage structure in excess of the 250 spaces required for Library and City Hall
uses, in the amount of Two Million Five Hundred Ninety Thousand Nine Hundred Nine
and no/100 Dollars ($2,590,909.00), as provided for in Exhibitr the ILA.
Lender shall provide a grant on the Parking Garage Loan up to the amount of the
original Parking Garage Loan if both of the following conditions are met: 1) the Parking
Garage is completed within five (5) years from the €effective Odate of the Fourth
Amendment to the Dania Beach Interlocal Agreement, or such lesser timeframe if any,
provided in the Library Agreement (it being acknowledged that completion of the parking
garage has already occurred), and 2) the City/CRA demonstrates that the County's
share of the revenue generated by the net increase in the tax base due to specific
private redevelopment projects within the Dania Beach RCP Redevelopment Area
boundaries over twenty (20) years (measured from the effective date of the First
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underscored type are additions.
-3-
Amendment to the Dania Beach Interlocal Agreement, dated February 21, 2006) is
expected to equal or exceed the amount of the original Parking Garage Loan. If
conditions 1) and 2) above are met, the Parking Garage Loan shall convert to a grant
through formal request by the Borrowers in accordance with the terms outlined in
CvhibU non attaryhed hereon the ILA.
If condition 1) in the above paragraph and pursuant to Exhibit "A" the ILA is met,
but with respect to condition 2) referenced, the County's share of the revenue generated
by the net increase in the tax base due to specific private redevelopment project(s) is
expected to be less than the full amount of the original Loan due to either completion of
only a portion of said project(s), or completion of a specific private redevelopment
project(s) that does not generate expected County revenue equal to the full amount of
the original Loan, a "partial" loan-to-grant conversion may take place for an amount that
is expected to equal the County's share of the revenue generated by the net increase in
the tax base due to said completed portions of project(s).
If a "partial" loan-to-grant conversion(s) takes place, the resulting amended loan
amount will be the difference between the full amount of the original Loan and the
partial loan amount(s) converted to a grant(s). A loan-to-grant conversion for the full
amount of the original Loan also may occur with one payment, at the time of completion
of the private redevelopment project(s), with appropriate Certificate of Occupancy
documentation. "Full" or partial" loan-to-grant conversion(s) of the original Loan may
also occur at any time during the term of the original Loan. However, if any loan-to-
grant conversion(s) occurs after the 58-year interest-free period and repayment has
begun, as defined in Section 3 hereinbelow, the amount available for conversion to a
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underscored type are additions.
-4-
grant(s) is the outstanding loan balance (defined as the original Loan less any
conversions and repayments) at the time of conversion, and interest accrued to that
date shall be paid to the County. All interest paid shall be retained by County.
3. Principal/Interest on the Loan. No payments of interest on or principal of
the Loan, or amendments thereof, shall be due within the first five-(5) eight 8 years
from the t-effective 9date of the original Loan Agreement, dated September 28, 2010.
In the event that the original Loan, or amended Loan, does not convert to a grant,
because the conditions stated in Section 2 hereinabove have not been met, the Parking
Garage Loan shall be repaid to Lender by the Borrowers over a fifteen (15) year period
commencing at the end of the initial five-(6) eight 8 year interest-free period, with the
interest rate at the Municipal Market Data MMD "A" revenue bond rate as in effect at the
time repayment begins. In this case, the maturity date shall be twenty-three (2g�
years or less from the Effective Date of the original Loan Agreement. In no event shall
the term of the original or amended Loan exceed twenty-three (M f?3 years: five-(6)
eight 8 years interest-free, and up to fifteen (15) years at the MMD "A" revenue bond
rate. One payment of principal and interest shall be made on or before September 30th
of each year of the fifteen (15) year period, commencing September 30, 2016 2019. An
equal amount of principal, plus the interest accrued for the year, shall become payable
on each September 30, commencing September 30, 2016 2019.
4. Defaults and Remedies. The occurrence of any one or more of the
following events shall constitute an event of default:
i. The proceeds of the Loan, as amended, in whole or any part thereof, are
not used by Borrowers for the specific purpose stated herein and in
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underscored type are additions.
-5-
accordance with the terms of Exhibit "A" heFeto the ILA.
ii. Any representation or warranty made by the Borrowers in connection with
the making of the Loan, as amended, by the Lender shall prove to be false
or misleading in any material respect.
iii. Failure to pay the amounts due under the Note, which failure shall
continue for a period of ten (10) days after notice thereof is provided to
Borrowers.
iv. Entry of a final judgment against Borrowers or their agents which
materially adversely affects the financial condition of the Borrowers and
remains unsatisfied after thirty (30) days of the same becoming final, or
the institution of any litigation against Borrowers or its agents which
contests the validity of the ILA, as
amended, this Loan Agreement, as amended, or the PFemisseFy Note that
is not dismissed or otherwise resolved within ninety (90) days thereafter.
5. Remedies Upon Default. Should any one or more defaults occur or exist,
Lender shall in addition to such rights available to Lender pursuant to the terms of
€xhib+t'A"to wit:}� ^�eaGh InteFlOGal AgFeemeni, as a„a the ILA, have the
right to accelerate the maturity of the entire principal balance due under the Note and
shall have the right, upon ten (10) days written notice, to enforce collection of the entire
indebtedness evidenced by the Note including interest, cost and fees by and through
any of the remedies herein contained, or by and through any remedies afforded and
permitted under the Note, the Uniform Commercial Code, or the laws of the State of
Florida. Failure to declare a default, or a failure or withholding of any action to enforce
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underscored type are additions.
-6-
collection of its obligation by virtue of such default, shall not constitute a waiver of any
such event of default on the part of Lender. Any waiver by Lender of an event of default
shall not be construed and shall not constitute a waiver of any other or subsequent
event of default, it being understood that each event of default shall be and constitute a
separate and independent event or act of default, for which Lender may accelerate the
indebtedness of Borrowers and, at its election and option, proceed to enforce collection
thereof.
All remedies and enforcement rights of the Lender shall be cumulative, and may
be pursued separately or together as against the Borrowers, and Lender may resort to
any one or more of the remedies afforded under this Loan Agreement, as amended, the
Note, the Uniform Commercial Code of Florida, or under the laws of Florida, neither to
the exclusion of the other.
6. Agreement to Pay Attorneys' Fees and Expenses. In the event the
Borrowers shall default under any of the provisions of this Loan Agreement, as
amended, and the Lender should employ attorneys or incur other expenses for the
collection of the payments due under this Loan Agreement, as amended, or the
enforcement of performance or observance of any obligation or agreement on the part
of the Borrowers herein contained, the Borrowers agree to pay to the Lender the
reasonable fees and expenses of such attorneys and such other expenses so incurred
by the Lender.
7. Miscellaneous.
(a) Effective Date. Effective date of this 94mt Second Amendment to
Loan Agreement shall mean the date upon which the last party to this
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underscored type are additions.
-7-
Second Amendment to Loan Agreement has executed same in
accordance with the formalities imposed upon such entity required by
Florida law.
(b) Notices. Notices shall be given by each party at the addresses set
forth below and shall be deemed to have been sufficiently given or served
for all purposes of the same as follows: All notices required to be given by
mail will be given by first class, registered or certified mail postage
prepaid, return receipt requested, or by private courier service which
provides evidence of delivery, or sent by facsimile which produces
evidence of transmission, confirmed by first class mail, postage prepaid,
and in each case shall be deemed to have been given on the date
evidenced by the postal or courier receipt or other written evidence of
delivery or electronic transmission, addressed in the manner aforesaid.
Any party may, by providing notice in the manner set forth in this section,
change its address for purposes of this section.
FOR COUNTY: County Administrator
Broward County Governmental Center
115 S. Andrews Avenue
Fort Lauderdale, FL 33301
With a copy to: Environmental Protection and
Growth Management Department
Room 32913, Broward County Governmental
Center
115 South Andrews Avenue
Fort Lauderdale, FL 33301
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underscored type are additions.
-8-
FOR CITY: City Manager
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
With a copy to: City Clerk
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
FOR CRA: Dania Beach Community
Redevelopment Agency
Executive Director
City of Dania Beach
100 West Dania Beach Boulevard
Dania Beach, FL 33004
(c) Severability. If any provision of this Loan Agreement, as amended,
shall be held or deemed to be, or shall in fact be, illegal, inoperative or
unenforceable, the same shall not affect any other provision or provisions
herein contained or render the same invalid, inoperative, or unenforceable
to any extent whatsoever.
(d) Execution of Counterparts. This Loan Agreement, as amended,
may be executed in several counterparts each of which shall be an
original and all of which shall constitute but one and the same instrument.
(e) Governing Law. This Loan Agreement, as amended, shall be
governed exclusively by and construed in accordance with the applicable
laws of the State of Florida. The venue for any proceeding hereunder
shall be accorded appropriate jurisdiction in Broward County, Florida.
(f) This Loan Agreement, as amended, shall be binding upon, and
shall inure to the benefit of, the respective successors and assigns of the
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underscored type are additions.
-9-
parties hereto.
8. Waiver of Jury Trial
Borrowers and Lender hereby knowingly, irrevocably, voluntarily and intentionally
waive any right to a trial by jury in respect of any action, proceeding, defense or
counterclaim based on this Loan Agreement, as amended, or arising out of, under or in
connection with this Loan Agreement, as amended, the Note, or any other security
document, or any course of conduct, course of dealing, statements (whether verbal or
written) or actions of any party hereto or to any security document. This provision is a
material inducement for Borrowers and Lender entering into the subject transaction.
(REMAINDER OF PAGE INTENTIONALLY LEFT BLANKI
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-1 a-
IN WITNESS WHEREOF, the Parties hereto have made and executed this Second
Amendment to Loan Agreement on the respective dates under each signature:
BROWARD COUNTY, signing by and through its County Administrator, authorized to
execute same by Board action on the 19 day of November, 2013; the CITY OF DANIA
BEACH, signing by and through its City Manager, duly authorized to execute same, and
the DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, signing by and
through its Executive Director, duly authorized to execute same.
COUNTY
LENDER
WITNESSES: BROWARD COUNTY, through its
COUNTY AD STRATOR
*,LILA� &JV�,
Print na .,NARY ANNE D Y By m :
—4
Berta FWny
County Administrator
Print name: KINW-8 MORRELL day of !�����`" 2014
Approved as to form by
Joni Armstrong Coffey
County Attorney
%011111118►►►►►►� Broward County, Florida
y •C•O ly�!� Governmental Center, Suite 423
J?.••'' ''•.�.5� � 115 South Andrews Avenue
O : C % = Fort Lauderdale, Florida 33301
i V � 0CT1rF4 z Telephone: (954) 357-7600
1 s rq Telecopier: (954) 357-6968
9�5 .ate'
Ole-
By kCQU A �ik
/,'�����''►�► ����'` ,` Assist Nancy Rubin
Count Attorney
ii���� Y Y
day of AAA C k . 2014
NAR/gmb
02/12/14
#14-053
Loan Agreement Parking Spaces Settlement.doc
11
SECOND AMENDMENT TO LOAN AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
CITY OF DANIA BEACH
BORROWERS
ATTEST: CITY OF DANIA BEACH, through its
Q
By
City Clerk ` City Manager
day of r-CB LM 4 2014
Is F�RsrG�k
Approved as to form:
By
Ci Attorney
% day of PltJ4_, 2014
-12-
SECOND AMENDMENT TO LOAN AGREEMENT AMONG BROWARD COUNTY,
CITY OF DANIA BEACH AND DANIA BEACH COMMUNITY REDEVELOPMENT
AGENCY
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
BORROWERS
WI NESSES: DANIA BEACH COMMUNITY
REDEVELOPMENT AGENCY
By
�3 day of_ , 2014
-13-
EXHIBIT "A"
AMENDED AND RESTATED PROMISSORY NOTE (COPY)
U.S. $2,590,909.00 Fort Lauderdale, Florida
February '�` , 2014
AMENDED AND RESTATED PROMISSORY NOTE
WHEREAS, on January 25, 2011, the undersigned, the CITY OF DANIA BEACH,
FLORIDA, a municipal corporation under the laws of the State of Florida, and the
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, or its successor, a public
body corporate and politic ("BORROWERS")executed a promissory note (the "Note") to
the order of BROWARD COUNTY, FLORIDA, a political subdivision of the State of
Florida (the "LENDER") in the principal sum of TWO MILLION FIVE HUNDRED
NINETY THOUSAND NINE HUNDRED NINE AND NO/100 DOLLARS ($2,590,909.00);
and
WHEREAS, BORROWERS and LENDER desire to amend the terms of the loan
agreement setting forth the conditions and requirements of the loan from LENDER to
BORROWER(the "Loan") as evidenced by the Note; and
WHEREAS, the Note is hereby amended and restated as follows.
FOR VALUE RECEIVED the undersigned, BORROWERS, promise to pay to the
order of LENDER, located at Governmental Center, 115 South Andrews Avenue, Fort
Lauderdale, Florida 33301, the principal sum of TWO MILLION FIVE HUNDRED
NINETY THOUSAND NINE HUNDRED NINE AND NO/100 DOLLARS ($2,590,909.00),
(the "Principal") plus interest (the "Interest") on the Principal after the end of the initial
five (5) eight 8 year interest-free period as defined in Section twfe-(2) four 4 below
(the Promissory Note as amended and restated shall be referred to as the "Amended
and Restated Note"):
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underscored type are additions.
So long as no default has occurred in the Amended and Restated Note, Interest
shall be payable at the Municipal Market Data MMD "A" revenue bond rate as in effect
at the time repayment begins. Upon default in this Amended and Restated Note,
Interest shall be payable at the per annum rate of eighteen percent (18%). Interest shall
accrue and be payable on an actual 360-day basis.
1. This Amended and Restated Note evidences a Loan by LENDER to
BORROWERS for the sole purpose of funding through the Broward County
Redevelopment Capital Program for funds for 190 spaces of the parking garage
structure, in support of private redevelopment, which spaces are in excess of the 250
spaces for Library and City Hall uses, and which are expected to spur private
redevelopment and are at an actual cost of Two Million Five Hundred Ninety Thousand
Nine Hundred Nine and no/100 Dollars ($2,590,909.00), based on a projected cost of
Thirteen Thousand Six Hundred Thirty-six and 36/100 Dollars ($13,636.36) per space.
2. This Amended and Restated Note evidences a Loan by LENDER to
BORROWERS upon the terms and subject to the terms and conditions set forth in the
Dania Beach Interlocal Agreement, as amended by the F=960h ArneRGIM6Rt, whiGh
and recorded as Composite Exhibit "A" in Official
Records Book 50203,_Page 606, of the Public Records of Broward County Florida and
as made a part hereof as Exhibit "A"
.arcmm�nnI.Rg this Note
3. This Amended and Restated Note amends and restates the Promissory
Note executed by BORROWERS on January 25 2011 that replacesd and supersedesd
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underscored type are additions.
-2-
the previous Note executed by BORROWERS on September 14, 2010, which Notes
was were for the same, sole purpose of funding through the Broward County
Redevelopment Capital Program for 190 spaces of the parking garage structure, in
support of private redevelopment, which spaces are in excess of the 250 spaces for
Library and City Hall uses, and which are expected to spur private redevelopment and
are at the same actual cost of Two Million Five Hundred Ninety Thousand Nine Hundred
Nine Dollars ($2,590,909.00), based on a projected cost of Thirteen Thousand Six
Hundred Thirty-six and 36/100 Dollars ($13,636.36) per space. The terms and
conditions of the€-+rst Second aAmendment to Loan Agreement shall govern herein.
4. The outstanding principal of the Amended and Restated Note shall be due
and payable as follows:
(a) No payments of interest or principal of the Loan shall be due within
the first five—(5) eight 8 years from September 28, 2010, the
€effective Pdate of the original Loan Agreement. In the event that
the Loan does not convert to a grant because the conditions stated
in Section 2 of the €-test Second Amendment to Loan Agreement
have not been met, the Loan shall be repaid to the LENDER by the
BORROWERS over a fifteen (15) year period commencing at the
end of the initial five-(5) eight 8 year interest free period, with the
interest rate at the Municipal Market Data MMD "A" revenue bond
rate as in effect at the time repayment begins. In this case, the
maturity date shall be twenty-three (20) 23 years or less from the
€effective Bdate of the original Loan Agreement. In no event, shall
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-3-
the term of the Loan exceed twenty-three (2-G) 23 years; five (6)
eight 8 years interest free, and up to fifteen (15)years at the MMD
"A" revenue bond rate. One payment of Principal and Interest shall
be made on or before September 30t" of each year of the fifteen
(15) year period, commencing September 30, 216 2019. An equal
amount of Principal, plus the interest accrued for the year, shall
become payable on each September 30, commencing September
30, 2016 2019.
(b) This Amended and Restated Note also provides, in furtherance of
the conditions stated in Section 2 of the accompanying €+rst
Second Amendment to Loan Agreement, that there can be a full or
partial conversion(s) to grant(s) of the Loan throughout the term of
the Loan. The resulting amended loan amount would be the
difference between the full amount of the original Loan and the
partial loan amount(s) converted to a grant(s). If any loan-to-grant
conversion occurs after the 68-year interest free period and
repayment has begun pursuant to the terms herein, the amount
available for conversion to a grant is the outstanding loan balance
(defined as the original Loan less any conversions and repayments)
at the time of conversion, and interest accrued to that date shall be
paid to the County. All interest shall be retained by County.
(c) This Amended and Restated Note may be prepaid in whole or in
part without penalty. Any prepayment shall be accompanied by an
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underscored type are additions.
-4-
amount equal to the interest accrued thereon to the date of receipt
of such prepayment in collected funds.
5. All payments hereunder shall be made to LENDER's office at: Broward
County Environmental Protection and Growth Management Department, 115 South
Andrews Avenue, Room 329B, Fort Lauderdale, Florida, 33301, or such other place as
LENDER may from time to time designate in writing.
6. This Amended and Restated Note shall be in default if any payment of
Principal or Interest due hereunder, and/or under the Second Amendment to Loan
Agreement, as amended, dated as of the date of this Amended and Restated Note,
from BORROWERS to LENDER, is not paid as and when due, or if any event of default
occurs simultaneously, as such term is defined in the accompanying €ir-st Second
Amendment to Loan Agreement being entered into hereto. Upon default in this
Amended and Restated Note, the LENDER, at its option, may declare the entire unpaid
Principal balance of this Amended and Restated Note, together with accrued Interest, to
be immediately due and payable without notice or demand. In addition to payments of
Interest and Principal, if there is a default in this Amended and Restated Note, the
LENDER shall be entitled to recover from the BORROWER all of the LENDER's costs
of collection, including the LENDER's attorneys' fees and expenses (whether for
services incurred in collection, litigation, or otherwise), and all other costs incurred in
connection therewith.
7. BORROWERS severally, irrevocably and unconditionally agree:
(a) that any suit, action or other legal proceeding arising out of or
relating to this Amended and Restated Note may be brought at the
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- 5-
option of the LENDER, in a court of record of the State of Florida in
Broward County, in the United States District Court for the Southern
District of Florida or in any other court of competent jurisdiction; and
(b) consent to the jurisdiction of each such court in any such suit,
action or proceeding; and
(c) waive any objection which it or they may have to the loss of
revenue of any such suit, action or proceeding in any such courts.
8. All remedies and enforcement rights of the LENDER shall be cumulative,
and may be pursued separately or together as against the BORROWERS and LENDER
may resort to any one or more of the remedies afforded under this Amended and
Restated Note or Loan Agreement, as amended, the Uniform Commercial Code of
Florida, or under the laws of Florida, neither to the exclusion of the others.
9. BORROWERS and LENDER hereby knowingly, irrevocably, voluntarily
and intentionally waive any right to a trial by jury in respect of any action, proceeding,
defense or counterclaim based on the Loan Agreement, as amended, or arising out of,
under or in connection with the First Amendment to Loan Agreement, the Second
Amendment to Loan Agreement, this accompanying Amended and Restated Note to the
€+rst Second Amendment to Loan Agreement, or any other security document, or any
course of conduct, course of dealing, statements (whether verbal or written) or actions
of any party hereto or to any security document. This provision is a material
inducement for BORROWERS and LENDER entering into the subject transaction.
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underscored type are additions.
-6-
IN WITNESS WHEREOF, BORROWERS, CITY OF DANIA BEACH, FLORIDA, and
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY, have executed this
Amended and Restated Note.
BORROWERS
�kTNESSE.S., CIT F D NIA BEACH, FLORIDA
Print Name: Priry Na e::`
Print Name:
STATE OF FLORIDA )
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me this `',N day of
1....41:t1,X.-J 2014, by as
who is personally known to me or who has produced
as identification.
Print Name:
Notary Public, State of Florida at Large
Commission No.
My Commission Expires:
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BORROWERS
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NESSffiS DANIA BEAC C MMUNITY
CTl REDEVELO ME AGENCY
Print Name: Print Name:
Print Name:
STATE OF FLORIDA )
COUNTY OF BROWARD )
The foregoing instrument was acknowledged before me this day of
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Print Name: !
Notary Public, State of Florida at Large
Commission No. �' L><{ Qr--. j
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02/12/14
#14-053
Promissory Note Parking Space Settlement.doc
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THIRD AMENDMENT TO LOAN AGREEMENT BETWEEN
BROWARD COUNTY,THE CITY OF DANIA BEACH,
AND THE DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
This is the Third Amendment ("Third Amendment") to the Loan Agreement, made and entered
into by and between Broward County, a political subdivision of the State of Florida, hereinafter
referred to as "County" or "Lender," the City of Dania Beach, hereinafter referred to as "City," a
municipal corporation under the laws of the State of Florida, and the Dania Beach Community
Redevelopment Agency,or its successor,a public body corporate and politic, hereinafter referred
to as "CRA." City and CRA are collectively referred to as the "Borrowers." County, City, and CRA
are collectively referred to as the "parties."
RECITALS
A. Pursuant to an Interlocal Agreement, as amended, dated April 20, 2004, and recorded as
Composite Exhibit "A" in Official Records Book 50203, Page 606, of the Public Records of
Broward County, Florida (the"ILA"), Lender and Borrowers entered into a loan agreement
on September 28, 2010, providing Two Million Five Hundred Ninety Thousand Nine
Hundred and Nine Dollars ($2,590,909.00) (the "Loan") for the reimbursement costs
associated with construction of a portion of a parking structure ("Loan Agreement").
B. The parties entered into the First Amendment to the Loan Agreement on February 22,
2011, as recorded in Official Records Book 47745, Page 1000, of the Public Records of
Broward County, Florida, regarding the documentation submitted by Borrowers to obtain
County funding through the Broward County Redevelopment Capital Program.
C. The parties entered into the Second Amendment to the Loan Agreement on March 4,
2014, as recorded in Official Records Book 50595, Page 1804, of the Public Records of
Broward County, Florida, to include and clarify the process for loan-to-grant conversion.
D. Lender has determined that Borrowers are in compliance with the requirements of the
ILA regarding loan-to-grant conversions. Specifically, County's share of revenue
generated by the net increase in the tax base of the Dania Beach Community
Redevelopment Area boundaries over twenty (20) years is calculated to be One Million
Eight Hundred Seventy-Five Thousand and Fifteen Dollars ($1,875,015.00) and surplus
conversion dollars are calculated to be Ninety-Four Thousand and Eighteen Dollars
($94,018.00), for a total of One Million Nine Hundred Sixty-Nine Thousand Thirty-Three
Dollars ($1,969,033.00).
E. The parties desire to convert One Million Nine Hundred Sixty-Nine Thousand Thirty-Three
Dollars ($1,969,033.00) of the Two Million Five Hundred Ninety Thousand Nine Hundred
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and Nine Dollars ($2,590,909.00) loaned to Borrowers under the Loan Agreement to a
grant.
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties agree as follows:
1. The above recitals and representations set forth above in the Recitals of this Third
Amendment to the Loan Agreement are true and correct and are incorporated herein by
reference.
2. Article 2, "Loan," is hereby amended to read as follows:
Loan. The Loan shall be evidenced by the Note in the form attached hereto as
Exhibit "A." The Note shall be funded in one lump sum and shall evidence the Loan. The
proceeds of the Loan shall be used by Borrowers solely for the actual costs of or the
reimbursement thereof, the 190 spaces of the parking garage structure in excess of the
250 spaces required for Library and City Hall uses, in the amount of Six Hundred Twenty
One Thousand Eight Hundred Seventy-Six Dollars ($621,876.00), which amount
represents the partial loan-to-grant conversion of One Million Nine Hundred Sixty-Nine
Thousand Thirty-Three Dollars($1,969,033.00)from original loan balance of Two Million
Five Hundred Ninety Thousand Nine Hundred Nine Dollars ($2,590,909.00), as provided
for in the ILA.
3. The Amended and Restated Promissory Note is amended as follows in Exhibit"A"to this Third
Amendment to the Loan Agreement.
4. Except as amended herein, all other terms and conditions of the Loan Agreement, as
amended by the First Amendment and Second Amendment, shall remain in full force and
effect.
5. In the event of any conflict or ambiguity by and between the terms and provisions of this
Third Amendment and the Loan Agreement,as amended by the First Amendment and Second
Amendment,the terms and provisions of this Third Amendment shall control to the extent of
any such conflict or ambiguity.
6. The effective date of this Third Amendment shall be the date upon which it is fully executed
by the parties. This Third Amendment may be executed in multiple originals, and may be
executed in counterparts, each of which shall be deemed to be an original, but all of which,
taken together, shall constitute one and the same agreement.
[Remainder of page intentionally left blank.]
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IN WITNESS WHEREOF,the parties have made and executed this Third Amendment to the
Loan Agreement on the respective dates under each signature: Broward County through its
Board of County Commissioners, signing by and through its Mayor or Vice-Mayor, authorized to
execute same by Board Action on day of , 2020; the City of Dania Beach,
signing by and through its Mayor, duly authorized to execute same; and the Dania Beach
Community Redevelopment Agency,signing by and through its Chair, duly authorized to execute
same.
BROWARD
ATTEST: BROWARD COUNTY, by and through
its Board of County Commissioners
By:
Broward County Administrator, as
ex officio Clerk of the Broward County day of 20_
Board of County Commissioners
Approved as to form by
Andrew J. Meyers
Broward County Attorney
Governmental Center, Suite 423
115 South Andrews Avenue
Fort Lauderdale, Florida 33301
Telephone: (954) 357-7600
Telecopier: (954) 357-7641
By:
Damaris Henlon (Date)
Assistant County Attorney
By:
Maite Azcoitia (Date)
Deputy County Attorney
DYH/
02/11/20
3,d Am. Dania Loan Agreement
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THIRD AMENDMENT TO LOAN AGREEMENT BETWEEN BROWARD COUNTY, THE CITY OF DANIA
BEACH, AND THE DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
CITY OF DANIA BEACH
WITNESSES: MAYOR
By:
Signature Authorized Signature
Print/Type Name Print/Type Name
day of , 20_
Signature
Print/Type Name
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THIRD AMENDMENT TO LOAN AGREEMENT BETWEEN BROWARD COUNTY, THE CITY OF DANIA
BEACH, AND THE DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
DANIA BEACH COMMUNITY REDEVELOPMENT AGENCY
Witnesses:
By
Chair
Attest:
(SEAL)
CRA Clerk
Approved as To Form:
CRA Attorney
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