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HomeMy WebLinkAboutCity of Tamarac Resolution R-2004-186Temp. Reso #10515 August 10, 2004 Page 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2004- ! $w A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA ACCEPTING A GRANT AWARD IN THE AMOUNT OF $1,597,120 FROM THE FLORIDA COMMUNITIES TRUST FOR TAMARAC PRESERVATION PARK (KINGS POINT REPLAT, PARCEL R); AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO EXECUTE A GRANT AWARD AGREEMENT AND GRANT AWARD CALCULATION STATEMENT BETWEEN THE CITY OF TAMARAC AND THE FLORIDA COMMUNITIES TRUST; AUTHORIZING AND DIRECTING THE CITY CLERK TO RECORD SAID AGREEMENTS IN THE PUBLIC RECORDS OF BROWARD COUNTY; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City of Tamarac Comprehensive Plan contains elements providing for conservation, recreation and open space; and WHEREAS, the City of Tamarac acquired Tamarac Preservation Park (Kings Point Replat, Parcel R) for the purposes of meeting the conservation, recreation and open space elements of the City of Tamarac Comprehensive Plan; and WHEREAS, the Florida Communities Trust through the Florida Forever Program provides grants to assist local governments to implement the conservation, recreation and open space elements of the local comprehensive plans; and WHEREAS, Resolution R-2003-114 of the City Commission of the City of Tamarac authorized an application to the Florida Communities Trust for reimbursement in the amount of $1,616,264 or 40% of the acquisition costs of Tamarac Preservation Park (Kings Point Replat, Parcel R); and Temp. Reso #10515 August 10, 2004 Page 2 WHEREAS, Resolution R-2004-44 of the City Commission of the City of Tamarac authorized acceptance of a grant award from the Florida Communities Trust for reimbursement in the amount of $1,616,164 or 40% of the acquisition costs of Tamarac Preservation Park (Kings Point Replat, Parcel R); and WHEREAS, the Florida Communities Trust has approved the City's application in the amount of $1,597,120 and requires execution of the Grant Award Agreement and Grant Award Calculation statement hereto attached as Exhibit 1 and Exhibit 2, respectively; and WHEREAS, the Grant Award Agreement provides for the covenants and restrictions that shall be imposed on the project site subsequent to its acquisition with Florida Forever Revenue bond proceeds; and WHEREAS, the Grant Award Calculation statement provides for the computation of the grant award in the amount of $1,597,120; and WHEREAS, the Assistant City Manager and Director of Parks and Recreation recommend execution of the Grant Award Agreement and Grant Award Calculation statement; and WHEREAS, the City Commission of the City of Tamarac deems it to be in the best interests of the citizens and residents of the City of Tamarac to accept the grant award and authorize the appropriate City officials to execute the Grant Award Agreement and Grant Award Calculation statement between the City of Tamarac and the Florida Communities Trust for Tamarac Preservation Park (Kings Point Replat, Parcel R). I Temp. Reso #10515 August 10, 2004 Page 3 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: Section 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed as being true and correct and are hereby made a specific part of this resolution. Section 2: The City Commission of the City of Tamarac hereby accepts the grant award in the amount of $1,597,120 from the Florida Communities Trust for Tamarac Preservation Park (Kings Point Replat, Parcel R). Section 3: The appropriate City officials are hereby authorized to execute the Grant Award Agreement and Grant Award Calculation statement between the City of Tamarac and the Florida Communities Trust for Tamarac Preservation Park (Kings Point Replat, Parcel R), hereto attached as Exhibit 1 and Exhibit 2, respectively. Section 4: The City Clerk is hereby authorized and directed to record the Grant Award Agreement and Grant Award Calculation statement in the Public Records of Broward County. Section 5: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. Section 6: If any clause, section, other part or application of this Resolution is held by any court of competent jurisdiction to be unconstitutional or invalid, in part or in application, it shall not affect the validity of the remaining portion or applications of this Resolution. Temp. Reso #10515 August 10, 2004 Page 4 Section 7: This Resolution shall become effective immediately upon its adoption. PASSED, ADOPTED AND APPROVED this 25th day of August, 2004. ATTEST: MARION SWENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. r- MITCHELL S. K CITY ATTORI` ,JOE SCHREIBER, MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER DIST 1: COMM. PORTNER DIST 2: COMM. FLANSBAUM-TALABI O DIST 3: VIM SULTANOF DIST 4: COMM, ROBERTS 1 1 F', September 2.3, 2004 VIA OVERNIGHT DELIVERY Diane Phillips Assistant to the City Manager City of Tamarac 7525 NW 88th Ave. Tamarac, Florida 33321 RE: FCT Project Number: 03-043-FF.3 City of Tamarac Tamarac_ Preservation Park Dear Ms. Phillips: It is with great pleasure that I inform you the following documents are enclosed to complete the above -mentioned project: 1. State warrant no. 0203767 in the amount of $1,597,120.00 representing FCT' s portion of the reimbursement cost 2. Two fully executed Grant Award Agreements -- one to be recorded and one for your file 3. One fully executed Grant Award Calculation statement 4. One purchaser's receipt that MUST be signed and returned to TTc iTamediately. Please record one Grant Award Agreement in the public records of froward County. When the Clerk of the Court returns it to you, please forward the original recorded Agreement:: to my attention. It has been a pleasure to work with you and thank you for your cooperation in this matter. If you have any questions please contact me at (850)922-1688. My facsimile number is (850)922-2679. Sincerely, 1 Kelly A�Mar-tinson Trust Counsel_ Fnclosures llrr i;r ii i ,i ( nn i!ti A nir,, 2i7�; tiiii damn Oar, i,,)i i�NPi) "1'vi ui.\-lI- 11. 32 99-2100 titiU/c1i2 7>tl tii 292 220--- FA\ iil)/)_'1-I-1— i This document prepared by: Kelly A. Martinson Florida Communities Trust Department of Community Affairs 2555 Shumard Oak Blvd. Tallahassee, FL 32399 FLORIDA COMMUNITIES TRUST FF3 AWARD #03-043-FF'3 FCT Contract# �� c:. y- �_�- r� - ��-b y, TAMARAC PRESERVATION PARK GRANT AWARD AGREEMENT THIS AGREEMENT is entered into this/zlday of gz,i , 2004, by and between the FLORIDA COMMUNITIES TRUST ("FCT"), a nonregulatory agency within the State of Florida Department of Community Affairs, and CITY OF TAMARAC, a political subdivision of the State of Florida ("Recipient"), in order to impose terms, conditions, and restrictions on the use of the proceeds of certain bonds, hereinafter described, and the lands acquired with such proceeds and as described in Exhibit "A" attached hereto and made a part hereof ("Project Site"), as shall be necessary to ensure compliance with applicable Florida Law and federal income tax law and to otherwise implement provisions of Chapters 259.105, 259.1051, and 380, Florida Statutes. .WHEREAS, Part III Chapter 380, Florida Statutes, the Florida Communities Trust Act, creates a nonregulatory agency within the Department of Community Affairs, which will assist local governments in bringing into compliance and implementing the conservation, recreation and open space, and coastal elements of their comprehensive plans or in conserving natural resources and resolving land use conflicts by providing financial assistance to local governments and nonprofit environmental organizations to carry out projects and activities authorized by the Florida Communities Trust Act; WHEREAS, Section 259.105(3)(c), F.S., of the Florida Forever Act provides for the distribution of twenty- two percent (22%) less certain reductions of the net Florida Forever Revenue Bond proceeds to the Department to provide land acquisition grants to local governments and nonprofit environmental organizations through the FCT for acquisition of community -based projects, urban open spaces, natural resource conservation areas, parks, greenways and outdoor recreation areas to implement local comprehensive plans; WHEREAS, the Bonds were issued as tax-exempt bonds, meaning that the interest on the Bonds is excluded from the gross income of Bondholders for federal income tax purposes; WHEREAS, Rule Chapter 9K-7, Florida Administrative Code (F.A.C.), authorizes FCT to GAA\03-043-FF1 July 28, 2004 1 impose conditions for funding on those FCT applicants whose projects have been selected for funding in accordance with Rule Chapter 9K-7, F.A.C.; WHEREAS, the FCT has approved the terms under which the Project Site is acquired and the deed whereby the Recipient acquires title to the Project Site shall contain such covenants and restrictions as are sufficient to ensure that the use of the Project Site at all times complies with Section 375.051, Florida Statutes and. Section 9, Article XII of the State Constitution and shall contain clauses providing for the conveyance of title to the Project Site to the Board of Trustees of the Internal Improvement "Trust Fund upon the failure of the Recipient to use the Project Site acquired thereby for such purposes; and WHEREAS, such covenants and restrictions shall be imposed by an agreement which shall describe with particularity the real property which is subject to the agreement and shall be recorded in the county in which the real property is located; and WHEREAS, the purpose of this Agreement is to set forth the covenants and restrictions that are imposed on the Project Site subsequent to its cost reimbursement using funds from the Florida Forever Trust Fund award. NOW THEREFORE, in consideration of the mutual covenants and undertakings set forth herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, FCT and Recipient do hereby contract and agree as follows: I. GENERAL CONDITIONS 1. Upon execution and delivery by the parties hereto, the Recipient shall cause this Agreement to be recorded and filed in the official public records of Broward County, Florida, and in such manner and in such other places as FCT may reasonably request, and shall pay all fees and charges incurred in connection therewith. 2. The Recipient and FCT agree that the State of Florida Department of Environmental Protection will forward this Agreement to Department of Environmental Protection Bond Counsel for review. In the event Bond Counsel opines that an amendment is required to this Agreement so that the tax-exempt status of the Florida Forever Bonds is not jeopardized, FCT and Recipient shall amend the Agreement accordingly. 3. This Agreement may be amended at any time. Any amendment must be set forth in a written instrument and agreed to by both the Recipient and FCT. 4. This Agreement and the covenants and restrictions contained herein shall run with the Property herein described and shall bind, and the benefits shall inure to, respectively, the FCT and GAA\03-043-FF I July 28, 2004 2 the Recipient and their respective successors and assigns. 5. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida, with respect to both substantive rights and with respect to procedures and remedies. 6. Any notice required to be given hereunder shall be given by personal delivery, by registered mail or by registered expedited service at the addresses specified below or at such other addresses as may be specified in writing by the parties hereto, and any such notice shall be deemed received on the date of delivery if by personal delivery or expedited delivery service, or upon actual receipt if sent by registered mail. FCT: Florida Communities Trust Department of Community Affairs 2555 Shumard Oak Blvd. Tallahassee, FL 32399-2100 ATTN: Program Manager Recipient: City of Tamarac th Avenue Tamarac FL 33313 A1TN:Jeffre L. Miller, City Manager Cc: -Mitch Kraft, Cit Attorne (at same address) 7. If any provision of the Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired. It. PROJECT SITE REQUIREMENTS IMPOSED BY CHAPTER 259, CHAPTER 375, AND CHAPTER 380, PART III, FLORIDA STATUTES 1. If any essential term or condition of this grant agreement is violated by the Recipient or by some third party with the knowledge of the Recipient and the Recipient does not correct the violation within 30 days of notice of the violation, fee simple title to all interest in the Project Site shall be conveyed to the Board of Trustees of the Internal Improvement Trust Fund. The FCT shall treat such property in accordance with Section 380.508(4)(e), Florida Statutes. 2. Any transfer of the Project Site shall be subject to the approval of FCT and FCT shall enter into a new agreement with the transferee, containing such covenants, clauses, or other restrictions as are sufficient to protect the interest of the people of Florida. 3. The interest, if any, acquired by the Recipient in the Project Site will not serve as security for any debt of the Recipient unless FCT approves the transaction. GAA\03-043-FF1 July 28, 2004 3 4. If the existence of the Recipient terminates for any reason., title to all interest in real property it has acquired with the FCT award shall be conveyed to the Board of Trustees of the Internal Improvement Trust Fund, unless FCT negotiates an agreement with another local government or nonprofit organization which agrees to accept title to all interest in and to manage the Project Site. 5. In the event that the Project Site is damaged or destroyed or title to the Project Site, or any part thereof, is taken by any governmental body through the exercise or the threat of the exercise of the power of eminent domain, the Recipient shall deposit with the FCT any insurance proceeds or any condemnation award, and shall promptly commence to rebuild, replace, repair or restore the Project Site in such manner as is consistent with the Agreement. The FCT shall make any such insurance proceeds or condemnation award moneys available to provide funds for such restoration work. In the event that the Recipient fails to commence or to complete the rebuilding, repair, replacement or restoration of the Project Site after notice from the FCT, the FCT shall have the right, in addition to any other remedies at law or in equity, to repair, restore, rebuild or replace the Project Site so as to prevent the occurrence of a default hereunder. Notwithstanding any of the foregoing, FCT will have the right to seek specific performance of any of the covenants and restrictions of this Agreement concerning the construction and operation of the Project Site. Ill, PROJECT SITE OBLIGATIONS IMPOSED BY FCT ON THE RECIPIENT 1. The Project Site shall be managed only for the conservation, protection and enhancement of natural and historical resources and for passive, natural resource -based public outdoor recreation which is compatible with the conservation, protection and enhancement of the Project Site, along with other related uses necessary for the accomplishment of this purpose. The proposed uses for the Project Site are specifically designated in the Project Plan as approved by FCT. 2. The Recipient shall prepare and submit to FCT an annual stewardship report as required by Rule 9K-7.013, F.A.C. 3. The Recipient shall ensure that the future land use designation assigned to the Project Site is for a category dedicated to open space, conservation, or outdoor recreation uses as appropriate. If an amendment to the Recipient's comprehensive plan is required to comply with this paragraph, the amendment shall be proposed at the next comprehensive plan amendment cycle available to the Recipient. 4. Recipient shall ensure, and provide evidence thereof to FCT, that all activities under this Agreement comply with all applicable local, state, regional and federal laws and regulations, including zoning ordinances and the adopted and approved comprehensive plan for the jurisdiction GAA\03-043-FF 1 July 28, 2004 4 as applicable. Evidence shall be provided to FCT that all required licenses and permits have been obtained prior to the commencement of any construction. 5. The Recipient shall, through its agents and employees, prevent the unauthorized use of the Project Site or any use thereof not in conformity with the FCT approved project plan. 6. FCT staff or its duly authorized representatives shall have the right at any time to inspect the Project Site and the operations of the Recipient at the Project Site. 7. All buildings, structures, improvements, and signs shall require the prior written approval of FCT as to purpose. Further, tree removal, other than non-native species, and/or major land alterations shall require the written approval of FCT. The approvals required from FCT shall not be unreasonably with -held by FCT upon sufficient demonstration that the proposed structures, buildings, improvements, signs, vegetation removal or land alterations will not adversely impact the natural resources of the Project Site. The approval by FCT of the Recipient's management plan addressing the items mentioned herein shall be considered written approval from. FCT. 8. If archaeological and historic sites are located on the Project Site, the Recipient shall comply with Chapter 267, Florida Statutes. The collection of artifacts from the Project Site or the disturbance of archaeological and historic sites on the Project Site will be prohibited unless prior written authorization has been obtained from the Department of State, Division of Ilistorical. Resources. 9. The Recipient shall ensure that the Project Site is identified as being publicly owned and operated as a passive, natural resource -based public outdoor recreational site in all signs, literature and advertising regarding the Project Site. The Recipient shall erect a sign(s) identifying the Project Site as being open to the public and as having been purchased with funds from FCT and Recipient. IV. OBLIGATIONS INCURRED BY RECIPIENT AS A RESULT OF BOND PROCEEDS BEING UTILIZED TO PURCHASE THE PROJECT SITE 1. If the Project Site is to remain subject, after its acquisition by the State and the Recipient, to any of the below listed activities or interests, the Recipient shall provide at least 60 days written notice of any such activity or interest to FCT prior to the activity taking place, and shall provide to FCT such information with respect thereto as FCT reasonably requests in order to evaluate the legal and tax con -sequences of such activity or interest: a. any lease of any interest in the Project Site to a non -governmental person or organization; b. the operation of any concession on the Project Site to a non -governmental GAA\03-043-FF 1 July 28, 2004 5 such other activity or interest as may be specified from time to time in writing by FCT to the .Recipient. 2. Recipient agrees and acknowledges that the following transaction, events, and circumstances may not be permitted on the Project Site as they may have negative legal and tax consequences under Florida law and federal income tax law: a. a sale of the Project Site or a lease of the Project Site to a non -governmental person or organization; b. the operation of a concession on the Project Site by a non -governmental person or organization; C. person or organization; C. any sales contract or option to buy things attached to the Project Site to be severed from the Project Site, with a non -governmental person or organization; d. any use of the Project Site by non -governmental persons other than in such person's capacity as a member of the general public; e. a management contract of the Project Site with a non -governmental person or organization; and f. a sale of things attached to the Project Site to be severed from the Project Site to a non -governmental person or organization; d. any change in the character or use of the Project Site from that use expected at the date of the issuance of any series of bonds from which the disbursement is to be made; e. any use of the Project Site by non -governmental persons other than in such person's capacity as a member of the general public; f, a management contract of the Project Site with anon -governmental person or organization; and g. such other activity or interest as may be specified from time to time in writing by FCT to the Recipient. DELEGATIONS AND CONTRACTUAL ARRANGEMENTS BETWEEN THE Recipient AND OTHER GOVERNMENTAL BODIES, NOT FOR PROFIT ENTITIES, OR NON GOVERNMENTAL PERSONS FOR USE OR MANAGEMENT OF THE PROJECT SITE WILL GAA\03-043-FF1 July 28, 2004 IN NO WAY RELIEVE THE Recipient OF THE RESPONSIBILITY TO ENSURE THAT THE CONDITIONS IMPOSED HEREIN ON THE PROJECT SITE AS A RESULT OF UTILIZING BOND PROCEEDS TO ACQUIRE THE PROJECT SITE ARE FULLY COMPLIED WITH BY THE CONTRACTING PARTY. V. CONDITIONS THAT ARE PARTICULAR TO THE PROJECT SITE AS A RESULT OF THE FCT APPROVED MANAGEMENT PLAN 1. Two or more resource -based outdoor recreational facilities including picnic pavilion and fishing pier and two or more user -oriented outdoor recreation facilities including a playground and ball fields shall be provided at the Project Site. The facilities shall be designed and located with minimal impact to natural resources on the Project Site. 2. A permanent recognition sign shall be maintained in the entrance area of the Project Site. The sign shall acknowledge that the Project Site is open to the public and was purchased with funds from the Florida Communities Trust and the City of Tamarac. 3. Interpretive signage shall be provided to educate visitors about the natural environment of the Project Site. 4. A biological inventory of the natural communities found on the Project Site, including the dominant and listed plant and animal species, shall be conducted prior to any site development. The inventory shall be used to ensure the protection of biological resources and be updated periodically. 5. The Project Site shall be managed in a manner that will protect and enhance the habitat for native wildlife species that utilize or could potentially utilize the site. The development of the Management Plan shall be coordinated with the Florida Fish and Wildlife Conservation Commission's Office of Environmental Services to ensure the preservation and viability of native wildlife species and their habitat. 6. The water quality of the canal adjacent to the Project Site shall be protected. 7. The Project Site shall be landscaped with native plant species to provide wildlife habitat and enhance the function and appearance of the Project Site. 8. An ongoing monitoring and control program for invasive vegetation including exotic (non-native) and nuisance native plant species shall be implemented at the Project Site. The objective of the control program shall be the elimination of invasive exotic plant species and the maintenance of a diverse association of native vegetation. The Management Plan shall reference the Exotic Pest Plant Council's List of Florida's Most Invasive Species to assist in identifying invasive exotics on the Project Site. GAA\03-043-FF 1 July 28, 2004 9. Prior to the commencement of any proposed development activities, measures shall be taken to determine the presence of any archaeological sites. All planned activities involving known archaeological sites or potential site areas shall be closely coordinated with the Department of State, Division of Historic Resources in order to prevent the disturbance of significant sites. 10. The location and design of the parking and other site improvements shall have minimal impact on natural resources. The parking area shall incorporate pervious material wherever feasible. Stormwater management facilities on the Project Site shall be designed to provide recreational open space or wildlife habitat. 11. Pedestrian and bicycle access to the Project Site shall be promoted through the provision of pedestrian oriented walkways and bicycle facilities that link the Project Site with adjacent residential neighborhoods. Bike parking stands shall be installed at the Project Site to provide an alternative to automobile transportation to the Project Site. 12. The Project Site shall be managed as an addition to the Tamarac Sports Complex. 13. The Project Site shall be developed and managed as a support parcel along a linkage between the C-l4/Cypress Creek Greenway with the C-13 Canal Trail Greenway recreational trails and include trailhead facilities. 14. Proposed site improvements shall be designed and located to minimize or eliminate the long-term risk of storm damage or flooding in conjunction with appropriate hazard mitigation agencies or experts. 15. The requirements imposed by other grant program funds that may be sought for activities associated with the Project Site shall not conflict with the terms and conditions of this Agreement. GAA\03-043-FF 1 July 28, 2004 8 This Agreement including Exhibit "A" embodies the entire agreement between the parties. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement. Witness: Print Dame: �ry n Print Name" ' V) 'r.... ( C�.CG L,'C STATE OF FLORIDA COUNTY OF BROWARD CITY OF TAMARAC By:� /-77 W, Print me:,1e1-fX-e- L. Miller "Title: Citv Manaaer Date: *H� -- — By: Print Name: Joe Schreiber Title: mnx7 — Date: ) �r''.� l Approved as to F r anc�' By: Print Natne: Flitch 'Kraf f The foregoing instrument Was acknowledged before me this �r day of 2004, by _ ?ce.5c6ib�r� behalf of the Local -iitar-L on Government, and who is personally known to me. GAA103-043-FF 1 July 28, 2004 9 Not - Public Print Name:m Commission No. My Commission Expires: p 4I Witness: Print Name: Print Name: STATE OF FLORIDA COUNTY OF LEON FLORIDA COM ITIf S TUST A Kathy Baughman WeLeod, Community Pr gr� m Manager Date: A - Approved as to Form and Legality: Bye Kelly A -Martinson, Trust Counsel The foregoing instrument was acknowledged before me this it i "i" day 2004, by Kathy Baughman McLeod, Community Program Manager of FCT. $he is personally known to me. Nota*iy Pu lic Print Narne: Commission My Commiss�)njF-x D- GAA\03-043-FFI July 28, 2004 10 EXHIBIT "A" Parcel R, KINGS POINT REPLAT, according to Plat thereof, as recorded in Plat Book 1.56, Page 3, of the Public Records of Broward County, Florida. GAA\03-043-FF I July 28, 2004 11 Local Government Name Project Name: FCT Project # Date: TOTAL PROJECT COSTS City of Tamarac Tamarac Preservation Park 03-043-FF3 GRANT AWARD CALCULATION STATEMENT Land Purchase Price Acquisition Expenses AppraJl,sals Appraisal Review Title Report Title Commitment Buyer's Agent Fee Survey Environmental Audit Total Acquisition Expenses Total Project Costs $ 3, 850, 000. 00 9,000.00 2,000.00 250.00 12,200.00 115,500.00 6,850.00 2,000.00 $ 147,800.00 $ 3,997,800.00 COMPUTATION OF GRANT AWARD AND LOCAL MATCH AMOUNT FCT Award Computation Share of Purchase Price $1,540,000.00 (1) Share of Acquisition Expenses 59,120.00 Total Share of Project Costs $ 1,599,120.00 (2) City of Tamarac Award Computation Share of Purchase Price $2,310,000.00 Share of Acquisition Expenses �88,680.00 Total Share of Project Costs $ 2,398,680.00 Total Project Costs $ 3,997,800.00 COMPUTATION OF PREPAIDS, REIMBURSEMENTS AND ADDITIONAL COSTS FLORIDA COMMUNITIES TRUST FCT Prepaid Project Costs Appraisal Review $ 2,000.00 Total Prepaid Costs 2,000.00 FCT Amount Due Share of Total Project Costs $ 1,599,120.00 Less Total Prepaid Costs 2,000.00 Total Amount Due from FCT $ 1,597,120.00 ty of Tamarac marac Preservation Park T Project #03--043-FF3 ge 2 CITY OF TAMARAC City Prepaid Project Costs Land Purchase Price Appraisals Title Report Title Commitment Buyer's Agent Fee Survey Environmental Audit Total Prepaid Costs City Amount Due Share of Total Project Costs Less Total Prepaid Costs Total. Amount Due To City City Additional. Costs Record Grant Award Agreement Total Additional Costs Notes: $ 3,850,000.00 9,000.00 250.00 12,200.00 115,500.00 6,850.00 2,000.00 $ 3,995,800.00 $ 2,39B,680.00 3,995,800.00 $ 95.00 (3) $ 95.00 $ 1,597,120.00 (1) Pursuant to memorandum dated April 26, 2004, from William fi. Benson, MAI to Caroline Sutton, the Maximum Approved Purchase Price is $4,379,000.00. City of Tamarac acquired the property on October 15, 2002, at a price of $3,850,000.00. The FCT share of the purchase price to be reimbursed is based on the purchase price as it is .less than the Maximum Approved Purchase Price. (2) Pursuant to the terms of the Grant Contract, the amount of the grant shall be the lesser of $1,616,264.00 or 40% of the total project costs. (3) Disbursed to Clerk of the Court, Broward County, at time of reimbursement from FCT. The foregoing calculation of grant award and total project costs is hereby approved by the undersigned. CITY OF TA.MARAC Name:Jef ev . Miller. Citv Manaaer Date: By; Name:,Joe Schreiber, Mayor Date • tl' Approved as to -Form and Legality: B Name:Mitch Kraft, City Attorney Date � ` j FLORIDA COMMUNITIF TRUST Kathy B+ghmantcLeod Community Proog am Manager Date: 4