HomeMy WebLinkAboutCity of Tamarac Resolution R-2014-044Temp. Reso. # 12482
May 14, 2014
Page 1 of 3
RESOLUTION NO.R-.1L- Ij
A RESOLUTION BY THE CITY COMMISSION OF THE CITY OF
TAMARAC, FLORIDA APPROVING THE -FUNDING AGREEMENT
BETWEEN THE TAMARAC VILLAGE COMMUNITY DEVELOPMENT
DISTRICT AND THE CITY OF TAMARAC; AUTHORIZING THE MAYOR
TO EXECUTE THE FUNDING AGREEMENT; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, the City Commission approved Resolution No. R-2013-77
establishing the Tamarac Land Trust for the property owned by the City of Tamarac
along 57th Street between 94th Avenue and Pine Island Road; and
WHEREAS, the
City of Tamarac City
transferred ownership of
property
to the
Tamarac Land Trust
in August 2013 and
again in November 2013
(for the
bank
building); and
WHEREAS, the City of Tamarac is the sole beneficiary of the land held in trust
by the Tamarac Land Trust; and
WHEREAS, the City of Tamarac, through Ordinance No. 0-2012-1 on February
26, 2014, created the Tamarac Village Community Development District; and
WHEREAS, the City of Tamarac is the beneficiary of the, Tamarac Village Land
Trust, which owns and controls that certain land located with the Tamarac Village
Community Development District; and
WHEREAS, the City of Tamarac is agreeable to partially fund the operations of
the district as called for in the Funding Agreement attached hereto as Exhibit 1.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
1
Temp. Reso. # 12482
May 14, 2014
Page 2 of 3
Section 1: The foregoing "WHEREAS" clauses are hereby ratified and
confirmed as being true and correct, and are incorporated herein by this reference. All
exhibits attached hereto are incorporated herein and made a specific part of this'
resolution.
Section 2: The appropriate City Officials hereby approve and the Mayor is
authorized to execute the Funding Agreement between the City of Tamarac and the
Tamarac Village Community Development Agreement, attached hereto as Exhibit 1.
Section 3: All resolutions inconsistent or in conflict herewith shall be and are
hereby repealed insofar as there is conflict or inconsistency.
Section 4: If any section, sentence, clause, or phrase of this resolution is held to
be invalid or unconstitutional by any court of competent jurisdiction, then such holding
shall in no way affect the validity of the remaining portions of this resolution.
Section 5: This resolution shall become effective upon its passage and adoption
by the City Commission.
PASSED AND ADO�P�TED BY THE CITY COMMISSION OF THE CITY OF TAMARAC,
FLORIDA THIS ,� DAY OF
2014.
KA
CITY OF TAMARAC FLORIDA
SLER, MAYOR
ATTEST:
PATRICIA TEUFEL,
CITY CLERK
I HEREBY CERTIFY THAT I HAVE
APPROVED THIS RESOLUTION
AS TO FORM
SA
C11
ATTORNEY
Temp. Reso. # 12482
May 14, 2014
Page 3 of 3
RECORD OF COMMISSION VOTE:
MAYOR DRESSLER CLA-AvC
DIST 1: COMM. BUSHNEL �_
DIST 2: VICE MAYOR GOMEZ
DIST 3: COMM. GLASSER 0
DIST 4: COMM. PLACKO Clx-�V
F TAM '''%
�.� Al. •' ' •.'Q
ESTABLISHED
1963 ,=
.• �,'•. SEAL
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9 j
FUNDING AGREEMENT
This Agreement is made and entered into this day of , 2014 (the
"Effective Date"), by and between:
TAMARAC VILLAGE COMMUNITY DEVELOPMENT DISTRICT, a local
unit of special purpose government established pursuant to Chapter 190, Florida
Statutes, being situated in the City of Tamarac, Florida, and whose mailing address is
c/o Governmental Management Services, 5385 N. Nob Hill Road, Sunrise, Florida
33351 (the "District"); and
CITY OF TAMARAC, a municipal corporation of the State of Florida, with an
address at 7525 NW 881" Avenue, Tamarac, Florida 33321 (the "city").
RECITALS
WHEREAS, the City is the beneficiary of the Tamarac Land Trust, which owns or controls
that certain land located within the District and described in Exhibit "A" attached hereto (the
"Property"), which is proposed to be developed as a mixed -use community known as "Tamarac
Village"; and
WHEREAS, the District, pursuant to the responsibilities and authorities vested in it by
Chapter 190, Florida Statutes, desires to proceed with the discharge of its duties, including but not
limited to its administrative and legal functions and its preparations to acquire, construct and deliver
certain community development services, facilities, and improvements to serve the District,
including without limitation certain water distribution and sanitary sewer collection and transmission
systems and facilities, a stormwater management system, roadway improvements, electrical,
telecommunications and security facilities, open space, recreation and landscaping, and related
improvements, all as such services, facilities, and improvements are more specifically described in
the plans and specifications on file at the offices of the District (collectively referred to hereafter as
"Improvements"); and
WHEREAS, the City recognizes that in the District's discharging of said duties and
responsibilities, certain benefits will accrue to the Property; and
WHEREAS, the City is agreeable to partially funding the operations of the District as called
for in the annual fiscal year budget approved by the Board of Supervisors as governing body of the
District (herein the "Budget"), which is attached and made a part hereof as Exhibit "B", as such
Budget may be amended from time to time for the fiscal year that it covers; and
WHEREAS, the City agrees and acknowledges that this Agreement shall be binding upon its
successors and assigns;
NOW, THEREFORE, based upon good and valuable consideration and the mutual
covenants of the parties hereinafter recited, the receipt and sufficiency of which is hereby
acknowledged, the District and the City agree as follows:
1. The recitals stated above are true and correct and by this reference are incorporated by
reference as a material part of this Agreement.
2. City agrees to make available to the District the moneys necessary for the operation of
the District during all or a portion of the fiscal year as called for in the Budget, quarterly, within
fifteen (15) days of written request by the District. The funds shall be placed in the District's general
checking account.
3. The parties hereto recognize that payments not part of the Budget may be made by the
City to the District, or on behalf of the District, in connection with the Improvements set forth in the
report of the District Engineer which are to be financed with the special assessment bonds, in one or
more series, (the "Bonds") and as such, the payments may be considered to be reimbursable
advances. The District agrees to use best efforts such that upon the issuance of the Bonds that there
will be included an amount sufficient to repay the City for the payments advanced to or on behalf of
the District by the City prior to the issuance of the Bonds in accordance with this Agreement and in
connection with the cost of the Improvements. Such repayment shall be made within a reasonable
period of time following the issuance of the Bonds. The parties further agree that any repayments
will not include any interest charge.
4. City shall make available to the District the moneys necessary for any and all
maintenance, repair, reconstruction, and replacement of the Improvements arising during the fiscal
year covered by the Budget, as set forth in the Budget, as such Budget may be amended from time to
time.
5. This instrument constitutes the entire agreement between the parties relating to the
subject matter of this Agreement. Amendments to and waivers of the provisions contained in this
Agreement may be made only in writing which is executed by both of the parties hereto.
6. The execution of this Agreement has been duly authorized by the appropriate body or
official of all parties hereto, each party has complied with all the requirements of law, and each party
has full power and authority to comply with the terms and provisions of this Agreement.
7. This Agreement is solely for the benefit of the formal parties herein and no right or
cause of action shall accrue upon or by reason hereof, to or for the benefit of any third party not a
formal party hereto. Nothing in this Agreement expressed or implied is intended or shall be
construed to confer upon any person or corporation other than the parties hereto any right, remedy or
claim under or by reason of this Agreement or any provisions or conditions hereof; and all of the
provisions, representations, covenants and conditions herein contained shall inure to the sole benefit
of and shall be binding upon the parties hereto and their respective representatives, successors and
assigns.
(00009822. DOC v.1 } 2
8. This Agreement and the provisions contained herein shall be construed, interpreted
and controlled according to the laws of the State of Florida.
9. This Agreement has been negotiated fully between the parties in an arm's length
transaction. The parties participated fully in the preparation of this Agreement with the assistance of
their respective counsel. In the case of a dispute concerning the interpretation of any provision of
this Agreement, the parties are deemed to have drafted, chosen and selected the language, and the
doubtful language will not be interpreted or construed against any party.
10. This Agreement, or any monies to become due hereunder, may be assigned, provided
that the assigning party first obtains the prior written consent of the other party, which consent shall
not unreasonably be withheld.
11. The rights and obligations created by this Agreement shall be binding upon and inure
to the benefit of City and District, their heirs, executors, receivers, trustees, successors and assigns.
12. whenever used the singular number shall include the plural, the plural the singular;
the use of any gender shall include all genders, as the context requires; and the disjunctive shall be
construed as the conjunctive, the conjunctive as the disjunctive, as the context requires.
13. This Agreement may be executed in any number of counterparts, each of which when
executed and delivered shall be an original; however, all such counterparts together.shall constitute,
but one and the same instrument. Signature and acknowledgment pages, if any, may --be executed by
facsimile, which shall be good as an original, and 'may be detached from the .,counterparts and
attached to a single copy of this document to physically form one document.:
[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
{ 00009822. DOC v.1) 3
r
IN WITNESS WHEREOF, the parties hereto execute this Agreement and further agree that
it shall take effect as of the Effective Date first above written.
Attest:
STATE OF FLORIDA }
COUNTY OF BROWARD }
TAMARAC VILLAGE COMMUNITY
DEVELOPMENT DISTRICT
Chair/Vice Chair
07ef-day of
The foregoing instrument was acknowledged before me this
20145 by 0)'icUad 0", QM A as ChairNice Chair of
S�day of
the Board
2014
of Supervisors for
TAMARAC VILLAGE DEVELOPMENT DISTRICT, who is personallyknown and/or produced
as identification and who being duly sworn, deposes and says that the
aforementioned is true and correct to his or her best knowledge.
[SEAL]
LILUM PASON
COMW8810n # SE 129700
Exorm Noer6i 1Z 2015
9orrdeQ 1hrti i'roy �n ��oe �;p,�„TOf�
STATE OF FLORIDA }
COUNTY OF
The foregoing instrument was acknowledged
2014, by " , as Secretary/Ass
Notary Public
Commission:
'-day
before me thisl of N\ 07.)LA
istant Secretary of the Board of Supe isors for
TAMARAC VILLAGE tONiMUNITY DEVELOPMENT DISTRICT, who is personally
known_and/or produced
deposes and says that the of
[SEAL]
as identification and who being duly sworn,
orementioned is true and correct to his or her best knowledge.
"�1wJw- LilJLrllaN PABO�i
# EE 129700
' Eor 12, 2015
eonaaaTMsfyfn -fte00%e O
Notary Public
Commission:
WITNESSES:
Print Nam'
Print Name
0-
T:
we^
ATRICIA TEUFE
APPR,OVEDAS TO
SA WEL IS.
(00009822. DOC v.1)
CITY CLERK
.
CITY ATTORNEY
�l
CITY OF TAMARAC
OL�'�
AND
Exhibit "A"
Leal Deseriution
rKRMZ-
DESCRIPTION.-
All of Lots 6 through 12, Block 4, Lot
LY014S INDUSTRIAL PARK, occording to the
of the Public Records of Broviord County,
To9sther with:
Portions of Lots 1 through 10, Block 101
of HW 91st Avenue and a portion of NW
No, 2, o o; ordin g ; o the plot thereof os
Records of Broword County, Florida.
1, 811ock 3, an:
Plot thereof os
Florido.
o portion of N1tl M1+t Avenve,
recorded in PIC! Book 111 Poke 1
o por1:110 of Lots 6 through 10, pltoc,; R, o portion
57rn Street, L'�'C�NS COMMERCIAL SUBDIVISION UNIT
recorded in Plot Book 59, Poge 43 of the Public
Said londs beho more par ticuiorly described as. follows.-
BEG114i�'InIG of a point lying on the West line of Lot 9, 81o; k 10 of said LYONS COI�t��RCI L
SUBDIVISION UNIT too, 2, sold point olso being 7.00 feet l,orth of os measured of right
angles, the South line of sold Block 10; thence Forth 00423'4�" West (as a .bcsis of
beorl;�gs� olong said West li,►e of sold Lot 9, Slock 10, a distonce of. 8.88 feet to a point
being on o line lying 15.S8 feet North of and porollei with the South Vine of soid Lot 10:
thence South 89'36'36" West along said porallel line, a distance of 21 D.14 feet; thence
North 4654'40" Yirest, c distonce of 22♦38 feet to a point being on the West line of sold
Block 10-, thence North 01'25' 55" West along said West 11n a and the Northerly exiens ion
thereof, o distonce of 399.02 feet to a point being the Southwest corner of Block* �,. of
said LYOKIS INDUSTRIAL PARK, sold point clso being the point of curYefure of o circular
curve to the left wtose rodius point hears North 88'305" East from said point; thence
Southeasterly along the arc of sold curve having a rodius of 25♦00 feet, o central cngte of
88'57'29" and on arc length of 38.82 feat; rhence North 89'3636" cast, c d1stonce of
39-9,47 feet to o point being the Southwest corner of Ubt 6, of sold Flock 4; the preceding
two (2) courses and distances being coincident vrith {.he South -line of soid Block 4; 'thence
North OW23'24" West olong the West line of soid Lot 6, o distonce of 250,00 feat to the
Northwest corner of sold Lot 6, sold Northwest corrver also i}ing on the North I A! of said
Block 4: thence North 89'3636" Ecst along said North line of Block 4, o distonos of
800.00 feet to o point being the Northeost comer of said Bloc, 4; thence continue Nxth
69`36,35" &.ost along the Ecstarly, extension of said North iirfe of Block 41 a d1stonCoe of
MOD feet to a point being the Northwest corner of said Block 3, or said LYONS
INDUSTRIAL PARK;trlence tlorth 89'3o'36" cst along the North ;ine of soid Bock 3, o
distonce of 200.00 feet to a point beinc the No(Lhecst corrrYr 0 Lot 1, of sold Black 1,
thence Smith 00'23`24" Ecst olong the Lst lirle of soid Lot 1, o of 290.00 feet
to o point being the Southeast cvner of soil Lot 1, soid Souihec:st tiornsr oleo Ming on
the South 11ne of soid Slook 3; thence North AM. 36'36`' P. clonc said South lire of 3lock 3,
o distance of 336.34 feet to u point being the Southwest corner of Porcei A, of soid
LYONS CCU14ERCIAL SUB4IMSION UNIT NO, 2; : iv)ce continnue Borth 8.9'36'30'" ccst along
the Sots th line of soid Porcel A. c disicrcl of 60816,7 feet;
Dennis J. Leary & Associates, Inc.
Land Surveyors" Mvappters
460 Business Pork Woy * Suite 8
Royal Polm Seoch, Flo; ldo 33411
Phone: 551 75,3-0550 F x: 561 753— 290
,..Gg
:.rfs
C0lgTINLtED GI,. SHEEEET 4 OF 6
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I=ot; C1 TY yr TAItlA-PAC, LOF1,1DA
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DESCRIPTION continued:
thence South 00"23'24" Eost, Q distonOe Df 106.00 feet to a point lying on the North lire
of Block 9, of said LYONS COMMERCIAL SUBDIVISION UNIT NO, 2; thence South 89`36136''
Kest along the North line of said Block 9, a distance of 650.35 feet; thence South
01'25'55" Eost, a distance of 200.73 feet to the point of intersection with the Eost line of
Lot 7, of soid dock 9; thence continue South 01'25}55" Eost, c distonee of 80.27 feet; the
preceding two (2) courses and distances being -coicncldent with the East line of a pa�rcei of
loud deserlbed in Officlal Records Book 47818, Page 1087, of the Public Records of Broward
County,. Florida; thence South 89`36'08" west, a d 1s tun oe of 51,89 feet; thence South
00'23'2.4* East., o distance of 11.99 #eet to a point being can o I.ine lying 7,00 feet North of
sand parallel with the South line of sold Block 9; the preceding two (2) courses and
distances being coincident with the North and west lines ot o pored of land as descrlbed in
Official Records Book 32920, Poge 120, of►he Public Records of Broward County, F'ioridcj;
thence South 89'36'35" West along said parallel line, o distance of 424.50 feet* to a point;
thence continue South 89'36'36" west along the Westerly extension of sold parallel line, a
distance of 100.00 feet to c point being on a lire Iying 7.00 feet Forth of and poral{el with
the South line of Block 10, of said LYONS OOMMERMI. SUBDIVISION UNIT No. 2; thence
continue South $9'36 36" West, along sold paroilal line, a distance of 975,00 feet to the
POINT OF BEGINNING,
Sold lands situate, lying and being In Section 8, Township 49 South, Ronas 41 East, City of
Jomorac, Broward County, Florida.
Containing 23.886 acres more or less.,
0
Deems J. Leavy & Associates, Inc.
Land SuR/eyors * Mappers
460 Business Fork Way * Suite B
Royal Polm Beoch, Florida 33411
Phone: 561 753-0650 Fax: 561 753--0290
SKETCH & DESCRIP T IOtq
For: CITY OF TkMARAC, FLORIDA
DRAWN0' NFC SCALE: N/A DATE: D7/24f13
CHK: DAB J0S# 13-00¢-coo SKEET: 4 of s oO
0
�a�t�4�•0{tt�et.QV?� M Cob RFv Ud.p
Exhibit "B"
Bud„,et
{00009822.DOC v,1.)
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0
Proposed budget
Fiscal Year 2014
Fiscal Year 2015
n
Tamarac Village Community
Development District
Apri121, 2014
OWS
csd��itnsne.�4a1
k � nfa r� nt� i�C S e tHto!
Q
w
Tamarac Village
Community Development District
Revenues
Developer Contributions
Total Revenues
Ex nditures
�rrr■rriririrr�rr�iw■r■�rwrr�■�■■■
Administrative
Engineering
Arbitrage
Dissemination Agent
Attorney
Annual Audit
Trustee Fees
Management Fees
Computer Time
Telephone
Postage
Printing & Binding
Insurance
Legal Advertising
Other Current Charges
Office Supplies
Dues, Licenses & Subscriptions
Aft.ministra t`ive Expenses
Net Income
t') Expenses related to the issuance of Bonds.
Proposed
FY2014 Budget
Page 1
$521225
$52,226
$5,000
$0
$0
$12,000
$0
$0
$25, 000
$500
$150
$750
$500
$5,000
$2,400
$500
$250
$175
$52,226
$0
Proposed
FY2015 Budget
$ 52,225
$62,225
$5,000
$0
$a
$12,000
$0
$0
$25, 000
$500
$150
$750
$500
$5,000
$2,400
$500
$250
$175
$62,225
$0
(1)
(1)
I
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9
I - - �,r�-
Tamarac Village
Community Development District
GENERAL FUND BUDGET
It Is presently anticipated that the District will enter into a Funding Agreement with the Developer to
Fund all General Fund expenditures for the Fiscal Year.
A
_ Istrat
F`n !q riemIns fees
The District's engineer will be providing general engineering services to the District, i.e. attendance and
preparation for monthly board meetings, review invoices, etc,
The District is required to have an annual arbitrage rebate calculation on the District's Bonds, The
District will contract with an independent auditing firm to perform the calculations.
Ols
LaLt—lon A got
The District is required by the Security and Exchange Commission to comply with Rule 15(c)(2)-
12(b)(5), which relates to additional reporting requirements for un-rated bond issues.
A orne
The District's legal counsel will be providing general legal services to the District, I.e. attendance and
preparation for monthly meetings, review operating & maintenance contracts, etc,
r1fl - :.��
The District is required annually to conduct an audit of Its financial records by an Independent Certified
Public Accounting Firm.
Tres ee Fees
The District bonds will be held and administered by a Trustee. This represents the banks annual fee,
Marra_o=n-t Fees
The District receives Management, Accounting and Administrative services as part of a Management
Agreement with Governmental Management Services - South Florida, LLC,
I
Rage 2
►t
rN
Tamarac Village
Community Development District
Corr -M& Tirr�e
r
The District processes all of Its financial activities, i.e. accounts payable, financial statements, etc, on a
main frame computer leased by Governmental Management Services — South Florida, LLC.
Tele .�
Telephone and fax machine. .
.Mailing of agenda packages, overnight deliveries, correspondence, etc.
Printing and Binding agenda packages for board meetings, printing of computerized checks, stationary,
envelopes etc.
The District's General Liability & Public Officials Liability Insurance policy is with a qualified entity that
specializes in providing insurance coverage to governmental agencies. The amount is based upon
similar Community Development Districts.
-�a At _•�
The District Is required to advertise various notices for monthly Board meetings, public hearings etc in a
' newspaper of general circulation,
Bank charges and any other miscellaneous expenses that incurred during the year.
C?/r/ce SWP-ks
Miscellaneous office supplies,
Duerr Licenses & Subscriptlorrs
The District Is required to pay an annual fee to the Department of Economic Opportunity for $175.
This is the only expense under this category for the District,
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