CRA RESOLUTION NO

Transcription

1 CRA RESOLUTION NO A RESOLUTION APPROVNG A GRANT AGREEMENT AND DECLARATION OF COVENANTS AND OBLIGATIONS BY AND AMONG THE COMMUNITY REDEVELOPMENT AGENCY OF TAMPA, FLORIDA AND ERIC SCHILLER, AS AUTHORIZED AGENT FOR CIGAR CITY PROPERTIES, INC. TO IMPROVE THE APPEARANCE AND FUNCTIONALITY OF PROPERTIES IN PARTICIPATING COMMUNITY REDEVELOPMENT AREAS BY PROVIDING FINANCIAL ASSISTANCE FOR THE REHABILITATION AND/OR RESTORATION OF PROPERTIES WITHIN THOSE CRA'S; AUTHORIZING EXECUTION THEREOF BY THE CHAIRMAN OF THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TAMPA; PROVIDING AN EFFECTIVE DATE. WHEREAS, the Community Redevelopment Agency (the "Agency") established the Community RedeveIopment Area Facade Grant Program (Program) to improve the appearance and functionality of properties in participating Community Redevelopment Areas (individually CRA or collectively CRA's) by providing financial assistance (Grant) for the rehabilitation and/or restoration of properties within those CRA's; and WHEREAS, the Ybor I CRA has allocated Tax Increment Financing (TIF) funds for the Program and is a participant in the Program; and WHEREAS, Eric Schiller, as authorized agent for Cigar City Properties, Inc. (the "Owner") has applied for a Program Grant to construct improvements on certain real estate located at 1805 East 7'h Avenue (Property) Tampa, Florida, as further defined in Exhibit A, and said Property is within the Ybor I CRA; and WHEREAS, the Owner depicted a property improvement plan (Project) in the Grant application, including a scope of work and Project budget that is in compliance with all Program requirements and City of Tampa building codes and standards; and WHEREAS, the Owner has agreed to continue to comply with the ongoing Program requirements for a period of five (5) years from the date of disbursement of Grant funds; and WHEREAS, the Agency has approved a Grant in the amount of Fifty Thousand & Dollars ($50,000.00), to be used for constructing the qualified improvements described in the Grant application and Project budget.

2 NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TAMPA, FLORIDA: Section 1. That the Grant Agreement and Declaration of Covenants and Obligations by and among the Community Redevelopment Agency of Tampa, Florida and Eric Schiller, as authorized agent for Cigar City Properties, Inc., a copy of which is attached hereto and by reference made a part hereof, is hereby approved in its entirety. Section 2. The Chairman of the Community Redevelopment Agency of the City of Tampa is authorized and empowered to execute, and the Secretary to attest and affix the off~cial Seal of the City to, said Grant Agreement and Declaration of Covenants and Obligations on behalf of the City. Section 3. That funds, for payment of the services provided, shall be paid by Account No. TF026Z (Ybor CRA Fund), not to exceed $50,000. Section 4. The proper officers of the City are authorized to do all things necessary and proper to cany out and make effective the provisions of this Resolution, which shall take effect immediately upon its adoption. PASSED AND ADOPTED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE elm OF TAMPA, FLORIDA, ON MAR ATTEST: PREPARED BY AND APPROVED AS TO LEGAL SUFFICIENCY: REDEVELOPMENT AGENCY E/S SALVATORE TERRITO CHIEF ASSISTANT CITY ATTORNEY K:\SalVatty\Gaspars Grant Rcso

3 Facade Grant Underwriting Committee - Grant Application Review / Action Cigar City Properties, Inc. (Gaspar s Grotto) 1805 E. 7 th Avenue Application Summary Amount of Grant Requested: $50,000 (maximum Program limit) Property Owner / Authorized Agent: Cigar City Properties, Inc/Eric Schiller Property Address: 1805 E. 7 th Avenue CRA: Ybor 1 Property Stats (HC Assessor): Building: 4,179sf / Land: 9,975sf / Market Value: $464,877 Architectural Review Approved: Yes, approval date: 7/21/09 Project Budget Sources/Uses of Funds Total Project Cost: $301,089 (per detailed budget) Owner s Funds: $131,089 Source: cash Other Funds: $120,000 Source: loan Grant Request: $ 50,000 Total Funding: $301,089 Grant Request / Market Value Ratio: Grant Only: 10.8% Grant + All Liens: 10.8% Public Funding In Project: Grant Only: 16.6% Grant + Other Funds: 16.6% Due Diligence Verifications Date Application Received: EUD Has Approved the Project Plans: Yes: X No: Project Supports CRA/Community Plans: Yes: X No: Property Owner / Agent Matches Applicant: Yes: X No: Property Is Commercial / Retail Use: Yes: X No: Property Ad Valorem Taxes Are Current: Yes: X No: Property Insurance on Subject Property: Yes: No: X Property Has Outstanding Code Violations: Yes: No: X Property Has Adult Uses: Yes: No: X Project Budget Attached: Yes: X No: Page 1 of 2

4 Underwriting Committee Results Applicant: Cigar City Properties, Inc./Eric Schiller Grant Requested: $ 50, Admin/Inspection Fees, Title Search, Recording Fees, Closing Costs: $ 1, Total Grant + Admin/Closing Costs: $ 51, Date of Underwriting Committee Review: February 3, 2010 Underwriting Committee Members: Cynthia Miller, City of Tampa Recommend Denial Recommend Approval Total Grant Recommend: $ 50, Total Funding Recommend: $ 51, Bonnie Wise, City of Tampa Ken Garcia, Ybor CAC The recommended grant award and total funding is based on the application s compliance with all terms and conditions of the Program except as specified below: Property is not covered by property insurance. Special Conditions of the Grant Award and Funding of the Underwriting Committee: 1) There are currently no liens on the Property. The Agency s lien protecting the covenants and obligations of this Grant Agreement shall be recorded at the time of finalizing the Grant award commitment and it shall be in a 1 st lien position. 2) The Grant award is to be disbursed as a single lump sum payment, subject to the verifying: a) Completion of the overall project, including the facade improvements supported by this Grant, evidenced by the City s issuance of a Certificate of Occupancy. b) An inspection report by Neighborhood Lending Partners, Inc, confirming: i) The project was completed in accordance with the Project Plans, ii) The title is free of construction liens, and iii) Agency s lien protecting the Grant Agreement shall be in a 1 st lien position. 3) The continued absence of property insurance shall not be considered a default of the ongoing Covenants and Obligations herein. Page 2 of 2

5 NOTICE OF LIEN Prepared By and Return To: Salvatore Territo, Esquire CRA Attorney For The City of Tampa 306 East Jackson Street Tampa, FL Recording Information: FOR USE WITH ALL COMMUNITY REDEVELOPMENT AREA FACADE GRANT PROGRAM AWARDS Community Redevelopment Area Facade Grant Program NOTICE OF LIEN PROPERTY ADDRESS: 1805 E. 7 th Avenue, Tampa, FL BY: Cigar City Properties, Inc., Eric Schiller, as authorized agent (Grantee) IN FAVOR OF: The Community Redevelopment Agency of Tampa, Florida (Grantor) As security for Grantor s payment to Grantee, of a grant in the amount of Fifty Thousand Dollars & 00/100 ($50,000.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee s Real Property located at 1805 East 7 th Avenue (Property) Tampa, Florida, as further defined in Exhibit A. Grantor, as Contractual Lien Holder, shall be entitled to all of the rights and remedies afforded to a Contractual Lien Holder under Florida Law, which rights and remedies shall be cumulative of all other rights, remedies, liens, and security interests afforded Grantor by law or this Agreement. GRANTEE ACKNOWLEDGEMENTS Grantee acknowledges that he has received a commitment for a Community Redevelopment Area Facade Grant in the amount of Fifty Thousand Dollars & 00/100 ($50,000.00) (Grant) to be used for the construction of Grant qualified and approved improvements upon the Property. Page 1 of 3

6 NOTICE OF LIEN Grantee acknowledges that the Grant commitment has been documented by the mutual execution of a Grant Agreement (Agreement), dated February 25, 2010, by and among the Grantor and the Grantee. Grantee acknowledges that the Agreement contains covenants and obligations, including ongoing covenants and obligations that the Grantee must satisfy and the Grantee s compliance with these covenants and obligations is secured by this Lien. Grantee acknowledges that the financial assistance received through the Grant represents good, valuable, and adequate consideration for the covenants and obligations undertaken by Grantee in the Grant Agreement and this Lien. IN WITNESS WHEREOF, the undersigned have executed this Lien as of the date first above written. GRANTEE _ (Signature) _ (Name typed or printed) BY: STATE OF FLORIDA COUNTY OF HILLSBOROUGH Before me, a Notary Public, in and for said county and State, personally appeared the Grantee who acknowledged that the foregoing Lien was executed in such capacity as its voluntary act and deed and that the foregoing representations are true and correct. WITNESS my hand and seal this day of, 20. Seal: MY COMMISSION EXPIRES: Page 2 of 3

7 NOTICE OF LIEN EXHIBIT A LEGAL DESCRIPTION YBOR CITY BLOCK Y, LOT 4 AND E 1/2 OF LOT 5 BLOCK 78 Page 3 of 3

8 Grant Agreement and Declaration of Covenants and Obligations This Grant Agreement and Declaration of Covenants and Obligations (Agreement) is entered into this 25th day of February, 2010, by and among the Community Redevelopment Agency of Tampa, Florida (Agency), a body politic and corporate existing under the laws of the State of Florida and Eric Schiller, as authorized agent for Cigar City Properties, Inc. (Owner), the Owner of certain real estate located at 1805 E. 7 th Avenue, Tampa, Hillsborough County, and State of Florida. R E C I T A L S WHEREAS, the Community Redevelopment Agency established the Community Redevelopment Area Facade Grant Program (Program) to improve the appearance and functionality of properties in participating Community Redevelopment Areas (individually CRA or collectively CRA s) by providing financial assistance (Grant) for the rehabilitation and/or restoration of properties within those CRA s. WHEREAS, the Ybor 1 CRA has allocated Tax Increment Financing (TIF) funds for the Program and is a participant in the Program. WHEREAS, Owner has applied for a Program Grant to construct improvements on certain real estate located at 1805 East 7 th Avenue (Property) Tampa, Florida, as further defined in Exhibit A, and said Property is within the Ybor 1 CRA. WHEREAS, Owner depicted a property improvement plan (Project) in the Grant application, including a scope of work and Project budget that is in compliance with all Program requirements and City of Tampa building codes and standards. WHEREAS, Owner has agreed to continue to comply with the ongoing Program requirements for a period of five (5) years from the date of disbursement of Grant funds. Page 1 of 12

9 WHEREAS, the Agency has approved a Grant in the amount of Fifty Thousand & 00/100 Dollars ($50,000.00), to be used for constructing the qualified improvements described in the Grant application and Project budget. ARTICLE I: AGREEMENT As security for the Community Redevelopment Agency s (hereinafter the Grantor ) payment to Grantee, of a Grant in the amount of Fifty Thousand Dollars & 00/100 ($50,000.00), Cigar City Properties, Inc. (hereinafter the Grantee ) consents to the imposition of a Contractual Lien on the Grantee s Real Property located at 1805 East 7 th Avenue Tampa, Florida, as further defined in Exhibit A. Grantor, as Contractual Lien Holder, shall be entitled to all of the rights and remedies afforded to a Contractual Lien Holder under Florida Law, which rights and remedies shall be cumulative of all other rights, remedies, liens, and security interests afforded Grantor by law or this Agreement. Owner acknowledges that the financial assistance received through the Program represents good, valuable, and adequate consideration for the obligations undertaken by Owner in this Agreement. As a condition precedent to the disbursement of Grant funds for the Project, Owner shall execute the Lien and other documents reasonably required to create a restrictive covenant running with the land and deliver those documents to the Agency. Special Conditions of the Grant Award and Funding: 1) There are currently no liens on the Property. The Agency s lien protecting the covenants and obligations of this Grant Agreement shall be recorded at the time of finalizing the Grant award commitment and it shall be in a 1 st lien position. 2) The Grant award is to be disbursed as a single lump sum payment, subject to the verification of the following: Page 2 of 12

10 a) Completion of the overall project, including the facade improvements supported by this Grant, evidenced by the City s issuance of a Certificate of Occupancy. b) A satisfactory inspection report by Neighborhood Lending Partners, Inc., the Agency s designated agent, confirming: i) The project was completed in accordance with the Project Plans submitted in the Grant application, ii) The title is free of construction liens, and iii) Agency s lien protecting the covenants of this Grant Agreement is in a 1 st lien position. 3) Due diligence of the application determined that the Property is not protected by property insurance. The continued absence of property insurance shall not be considered a default of the ongoing Covenants and Obligations herein. ARTICLE II: COVENANTS AND OBLIGATIONS The covenants and obligations set forth in this Agreement shall run with the land and remain in force and effect for a period of five (5) years from the date of disbursement under this Agreement. Exceptions to the following covenants and obligations, if any, shall be described in the Special Conditions of the Grant Award and Funding section in ARTICLE I. 1) Owner agrees to obtain the consent of any lien holder on the Property recorded prior to this Agreement, for the recordation of a lien as security for the covenants and obligations described herein. 2) The Project shall be constructed and completed in compliance with the following: a) The completed Project must be materially as presented in the approved plans. b) All Project work must adhere to City of Tampa building codes and standards. Page 3 of 12

11 c) If the Property is located within a Local Historic District or is designated as a Local Landmark, Owner must obtain Certificate of Appropriateness from the appropriate architectural review commission and all Project work must adhere to said Certificate of Appropriateness. d) All Project work must be performed by contractors licensed in the City of Tampa. e) Project work must start within the earlier of: i) One (1) year from the Grant award commitment date (Commitment Date), or ii) Thirty (30) days from the approval of a building permit application (Permit Date). f) The Project must be completed within the later of: i) One (1) year from the Commitment Date, or ii) One (1) year from the Permit Date. 2) Ongoing covenants and obligations (exceptions, if any, are noted in the Special Conditions of the Grant Award and Funding section, ARTICLE I.): a) Payment of Ad Valorem taxes on the Property must be kept current. b) Property insurance on the Property must be maintained and proof of said insurance must be provided to the Agency. c) The Property must continually be maintained and in good repair. d) Representatives of the Agency and/or their designee shall be allowed access to the Property at all reasonable times to determine that the Property is being maintained. e) Property shall not be leased to or occupied by an adult use as defined in the City of Tampa Code of Ordinances, Sec f) Property shall not be conveyed or transferred, all or in part, without the Agency s prior written consent. The procedure for a proposed change of ownership is as follows: Page 4 of 12

12 i) Owner must notify Agency in writing of the proposed change of ownership. Said notice must include the name of the proposed successor, a notarized affirmation from the proposed successor attesting to their willingness to be bound by this Agreement, and other information reasonably requested by Agency. ii) If Agency, at its sole discretion, consents to the proposed change of ownership, the to-be new owner shall execute whatever documents are necessary to be bound by this Agreement prior to proceeding with the transaction. iii) If Agency, at its sole discretion, declines to consent to the proposed change of ownership, Owner shall not proceed with the transaction. ARTICLE III: DEFAULTS AND REMEDIES 1) Defaults: A default shall have occurred if: a) Grant proceeds are used for a purpose other than approved, qualified Grant expenses, or b) Any statement or representation made in connection with applying for the Grant, this Agreement, and/or disbursement of Grant funds proves to have been incorrect in any material respect when made, or c) Owner breaches any covenant, agreement, provision, representation, warranty, or obligation made in this Agreement. 2) Remedies: a) Agency may suspend or terminate disbursement of the Grant award. If termination occurs, Owner shall have no further right to any remaining Grant funds. b) Agency may enforce specific performance by Owner of its obligations under this Agreement in a court of competent jurisdiction. Page 5 of 12

13 c) In the event of default due to the Owner s conveyance or transfer of all or part of the Property without the Agency s prior written approval, the Agency may, at its sole discretion: i) Void such conveyance, sale, transfer, or exchange, or ii) Demand immediate repayment of the Grant in an amount described herein. d) In the event of a default due to a breach of any other covenant or obligation, and the Owner fails to cure the default within an Agency approved cure period, if any, Agency may, at its sole discretion: i) Demand immediate repayment of the Grant in an amount computed as described herein. ii) Convert the Grant into a Loan, with monthly payments in an amount computed as described herein. e) The amount due resulting from a demand for immediate repayment shall include the total of all Grant funds disbursed and accrued interest computed as follows: i) The total of all Grant funds disbursed. ii) Accrued Interest: Interest Rate applied to the amount of each Grant disbursement, from the date of its disbursement to the date of the default, compounded annually. iii) Interest Rate: The Wall Street Journal Prime Rate as published on the date of the Default, plus 200 basis points. f) The amount due and monthly payment resulting from a Grant converted into a Loan shall include the total of all Grant funds disbursed, accrued interest, and current interest computed as follows: i) The total of all Grant funds disbursed. ii) Accrued Interest: Interest Rate applied to the amount of each Grant disbursement, from the date of its disbursement to the date of the default, compounded annually. Page 6 of 12

14 iii) Interest Rate: The Wall Street Journal Prime Rate as published on the date of the Default, plus 200 basis points. iv) Starting Loan Balance: Total of all Grant funds disbursed plus Accrued Interest: v) Current Interest: Interest computed on each month s outstanding balance until the obligation is paid in full. vi) Loan Term: Period not exceed sixty (60) months, as determined by the Agency. vii) Payment Amount: Starting Loan Balance divided equally by the number of months of the Loan Term, plus the Current Interest. g) Owner shall indemnify and hold harmless the Agency, its directors, officers, employees, and agents from any and all claims, losses, damages or expenses (including reasonable attorneys fees) arising out of the failure or alleged failure of the Owner to strictly and timely perform its obligations under this Agreement. ARTICLE IV: AGREEMENT TERM 1) The Effective Date of this Agreement shall be the date executed by the Chair of the Community Redevelopment Agency of the City of Tampa, Florida. 2) This Agreement shall terminate the earlier of: a) Five (5) years from the Disbursement Date, or b) The date the Agency receives payment in full of all Grant funds disbursed and accrued interest and current interest on all unpaid balances if applicable. ARTICLE V: RULES OF CONSTRUCTION The following general rules of construction shall apply throughout this Agreement: 1) Entire Agreement: This Agreement along with any agreements or documents executed in conjunction herewith constitutes the entire agreement between the parties hereto pertaining Page 7 of 12

15 to the subject matters hereof, and supersedes all negotiations, preliminary agreements, and all prior agreements and contemporaneous discussions and understandings of the parties in connection with the subject matters hereof. 2) Amendments: No change, modification or termination of any of the terms, provisions, or conditions of this Agreement shall be effective unless made in writing and signed by all parties hereto, their successors or assigns. 3) Governing Law: This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. Venue shall be in Hillsborough County, Florida. 4) Separability: If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions hereof shall remain in full force and effect and shall in no way be affected, impaired, or invalidated thereby. 5) Headings and Captions: The titles or captions of paragraphs and subparagraphs contained in this Agreement are provided for convenience of reference only, and shall not be considered a part hereof for purposes of interpreting or applying this Agreement, and, therefore, such titles or captions do not define, limit, extend, explain, or describe the scope or extent of this Agreement or any of its terms, provisions, representations, warranties, or conditions in any manner or way whatsoever. 6) Gender and Number: All pronouns and variations thereof shall be deemed to refer to the masculine, feminine or neuter, and to the singular or plural, as the identity of the person or entity or persons or entities may require. 7) Binding Effect on Successors and Assigns: This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and assigns. 8) Remedies Cumulative; No Waiver: No right, power or remedy reserved by this Agreement, is intended to be exclusive of any other right, power or remedy, but shall be cumulative and concurrent with any other right, power and remedy available now or Page 8 of 12

16 hereafter existing at law, in equity or by statute. No delay or omission to exercise any right, power or remedy accruing upon the occurrence of any Event of Default shall impair any such right, power or remedy or shall be construed to be a waiver of any such Event of Default. Every right, power and remedy may be exercised from time to time and as often as may be deemed expedient by the holder of such remedy. 9) Conflict: In any event of conflict herein between this Agreement and any other agreement or document executed in conjunction herewith, this Agreement shall prevail. 10) Time Is of the Essence: As to the performance by Owner of the requirements, conditions, and covenants of this Agreement, time is of the essence. ARTICLE VI: NOTICES Any notice shall be in writing and shall be delivered by hand with acknowledgement of receipt or sent by United States Registered or Certified Mail; postage prepaid, addressed as follows: If to Owner: Cigar City Properties, Inc. Eric Schiller, Authorized Agent 1805 E. 7 th Avenue Tampa, Florida Telephone: Facsimile: If to Agency: City of Tampa, Florida c/o City Attorney 315 East Kennedy Boulevard Tampa, Florida Telephone: (813) Facsimile: (813) With Copy to: City of Tampa, Florida c/o Economic Development Administrator 306 E. Jackson Street, 2 nd Floor North Tampa, Florida Telephone: (813) Facsimile: (813) Page 9 of 12

17 IN WITNESS WHEREOF, the Agency and Owner have caused this instrument to be executed at the place and on the date first written above. OWNER _ (Signature) _ (Name typed or printed) BY: State of Florida County of Hillsborough The foregoing instrument was acknowledged before me this day of, 2010, by, Owner, who is personally known to me or has provided Florida Driver License (License Number) for identification. Signature of person taking acknowledgement Name of acknowledger typed, printed or stamped NOTARY PUBLIC State of Florida at Large Serial Number (if any): My Commission Expires: Page 10 of 12

18 COMMUNITY REDEVELOPMENT AGENCY BY: Gwen Miller, Chairman ATTEST: Secretary State of Florida County of Hillsborough The foregoing instrument was acknowledged before me this day of, 2010, by Gwen Miller, as Chairman of the Community Redevelopment Agency of the City of Tampa, Florida, and on behalf of the Community Redevelopment Agency, who is personally known to me. Signature of person taking acknowledgement Name of acknowledger typed, printed or stamped NOTARY PUBLIC State of Florida at Large Serial Number (if any): My Commission Expires: APPROVED AS TO FORM AND LEGAL SUFFICIENCY BY: Salvatore Territo Chief Assistant City Attorney City Attorney's Office Page 11 of 12

19 EXHIBIT A LEGAL DESCRIPTION YBOR CITY BLOCK Y, LOT 4 AND E 1/2 OF LOT 5 BLOCK 78 Page 12 of 12

20 CRA RESOLUTION NO A RESOLUTION AMENDING CRA RESOLUTION NO , PASSED AND ADOPTED BY THE CITY COUNCIL OF THE CITY OF TAMPA ON OCTOBER 8, 2009 WHICH APPROVED AN AGREEMENT BETWEEN THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TAMPA AND THE CITY OF TAMPA FOR ASSISTANCE IN IMPLEMENTING AND FURTHERING THE COMMUNITY REDEVELOPMENT PLAN FOR THE DOWNTOWN, YBOR ClTY I, TAMPA HEIGHTS RIVERFRONT, EAST TAMPA, CHANNEL DISTRICT, DREW PARK, YBOR CITY I1 AND CENTRAL PARK COMMUNITY REDEVELOPMENT AREAS BY AMENDING DOLLAR AMOUNTS LISTED IN SECTION 3 OF SAID RESOLUTION; AMENDING DOLLAR AMOUNTS IN THE AGREEMENT ATTACHED TO SAID RESOLUTION UNDER ARTICLE 111. COMPENSATION; AMENDING THE DOLLAR AMOUNTS IN THE AGREEMENT ATTACHED TO SAID RESOLUTION UNDER ARTICLE IV. PAYMENTS; PROVIDING AN EFFECTIVE DATE. WHEREAS, it is necessary to amend CRA Resolution No by amending dollar amounts listed in Section 3 of said Resolution, by amending dollar amounts in the agreement attached to said Resolution under ARTICLE. 111 Compensation and by amending ARTICLE IV. PAYMENTS. NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE ClTY OF TAMPA, FLORIDA, THAT: Section I. That CRA Resolution No is hereby amended by deleting the dollar amount for the following: "East Tampa CRA TF046VAO , not to exceed $3 12,637" and substituting in lieu thereof the following: "East Tampa CRA TF046VAO , not to exceed $327,197" Section 2. That CRA Resolution No is hereby amended by deleting the dollar amount for the following: "East Tampa CRA TF046VA , not to exceed and substituting in lieu thereof the following: "East Tampa CRA TF046VA , not to exceed Section 3. That CRA Resolution No is hereby amended by deleting the dollar amount for the following: "Central Park CRA TFO 16RAO , not to exceed $3 1,679" and substituting in lieu thereof the following:

21 Central Park CRA TF016RA , not to exceed $31, Section 4. That CRA Resolution No is hereby amended by deleting the dollar amount for the following: Total Consideration $1,826,626 and substituting in lieu thereof the following: Total Consideration $1,842, Section 5. That ARTICLE III. COMPENSATION in the Agreement attached to CRA Resolution No is hereby amended by deleting the dollar amount for the following: East Tampa Community Redevelopment Area $748,648 and substituting in lieu thereof the following dollar amount: East Tampa Community Redevelopment Area $764,998 Section 6. That ARTICLE III. COMPENSATION in the Agreement attached to CRA Resolution No is hereby amended by deleting the dollar amount for the following: Central Park Community Redevelopment Area $31,679 and substituting in lieu thereof the following dollar amount: Central Park Community Redevelopment Area $31, Section 7. That ARTICLE III. COMPENSATION in the Agreement attached to CRA Resolution No is hereby amended by deleting the dollar amount for the following: Total Consideration $1,826,626 and substituting in lieu thereof the following: Total Consideration $1,842, Section 8. That ARTICLE IV. PAYMENTS in the Agreement attached to CRA Resolution No is hereby amended by deleting the following: On the first day of each month during the period of this Agreement the Agency shall pay the City one twelfth (1/12) of one million, eight hundred twenty-six thousand, six hundred twenty-six dollars ($1,826,626) for the services described in Article 1.A. and C. of this Agreement. and substituting in lieu thereof the following: 2

22 "On the first day of each month during the period of this Agreement the Agency shall pay the City one twelfth (1112) of One Million, Eight Hundred Forty-Two Thousand, Nine Hundred Seventy-Nine Dollars and Seventy-Three Cents ($1,842,979.73) for the services described in Article I.A. and C, of this Agreement." Section 9. That all of the terms and conditions of the original Agreement, as amended, are hereby ratified and confirmed. Section 10. That the proper officers of the City are authorized to do all things necessary and proper to carry out and make effective the provisions of this Resolution, which shall take effect immediately upon its adoption. PASSED AND ADOPTED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE ClTY OF TAMPA, FLORIDA, ON ATTEST: ACTING CHAIRMAN COMMUNITY REDEVELOPMENT AGENCY PREPARED BY AND APPROVED AS TO LEGAL SUFFICIENCY: El S SALVATORE TERRITO CHIEF ASSISTANT ClTY ATTORNEY