CRA RESOLUTION NO

Transcription

1 CRA RESOLUTION NO A RESOLUTION APPROVING A GRANT AGREEMENT AND DECLARATION OF COVENANTS AND OBLIGATIONS BY AND AMONG THE COMMUNITY REDEVELOPMENT AGENCY OF TAMPA, FLORIDA AND RICHARD CHAD, AS AUTHORIZED AGENT FOR HIGHLAND PROPERTIES OF TAMPA BAY, 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 Redevelopment Area Facade Grant Program (Program) to improve the appearance and functionality of properties in participating Community Redevelopment Areas (individually CRA or coliectively CRA's) by providing financial assistance (Grant) for the rehabilitation and/or restoration of properties within those CRA's; and WHEREAS, the Ybor 2 CRA has allocated Tax Increment Financing (TIF) funds for the Program and is a participant in the Program; and WHEREAS, Richard Chad, as authorized agent for Highland Properties of Tampa Bay, (the "Owner") has applied for a Program Grant to construct improvements on certain real estate located at 2426 E. 7th Avenue (Property) Tampa, Florida, as further defined in Exhibit A, and said Property is within the Ybor 2 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 Twenty Three Thousand Two Hundred Nine Dollars & Dollars ($23,209.00), 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 I. That the Grant Agreement and Declaration of Covenants and Obligations by and among the Community Redevelopment Agency of Tampa, Florida and Richard Chad, as authorized agent for Highland Properties of Tampa Bay, 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 ofticial 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. TF026Y (Ybor CRA Fund), no1 to exceed $23, Section 4. 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 CITY OF TAMPA, FLORIDA, 0 1 ON- ATTEST: J' V REDEVELOPMENT AGENCY PREPARED BY AND APPROVED AS TO LEGAL SUFFICIENCY: E/S SALVATORE TERRITO CHIEF ASSISTANT CITY ATTORNEY K \Sal\Party\l l~yhland Prop Cmnt Keso

3 m\,, Pam lorio, Mayor Economic & Urban Development P Mike Chen, Development Services Manager TO: MEMORANDUM Chairman Miller and Community Redevelopment Agency Board Members THROUGH: Mark Huey, Economic Development Administrator FROM: RE: DATE: May 13,2010 Mike Chen, Development Services Manager CRA Facade Grant Program - Grant application action for 2426 E. 7"' Avenue The Facade Grant Underwriting Committee met on April 23, to review and take action on a Grant application. The purpose of this memo and the attached resolution is to obtain your approval for the CRA Chair to execute the appropriate documents, thus allowing us to finalize the Grant award. A summary of the application and the Underwriting Committee's recommendation follows. Amount of Grant Requested: $23,209 Property Owner / Authorized Agent: Highland Properties of Tampa Bay, Inc/Richard Chad Property Address: 2426 E. 7"' Avenue CRA: Ybor 2 Property Stats (HC Assessor): Building: 1,152sf Land: 4,750sf Market Value: As Is: $49,137 Completed: $128,23 1 Architectural Review Approved: Yes, approval date: 712 1/09 (Barrio letter attached) Project Budget - SourcesNses of Funds Total Project Cost: $79,094 (detailed budget attached) Owner's Funds: $ 55,885 Source: checking account / line of credit Other Funds: $ Source: Grant Request: $ 23,209 Total Funding: $ 79, E. Jackson Street Tampa, Florida (813) FAX: (813)

4 Grant / Completed Value Ratio: Grant Only: 18.0% Grant + All Liens: 45.4% Public Funding In Project: Grant Only: 29.3% Grant + Other Public Funds: 29.3% Due Diligence Verifications EUD Has Approved the Project Plans: Yes: Pro-ject Supports CRA/Community Plans: Yes: Property Owner / Agent Matches Applicant: Yes: Property Is Commercial / Retail Use: Yes: X Property Ad Valorem Taxes Are Current: Yes: - Property Insurance on Subject Property: Yes: Property Has Outstanding Code Violations: Yes: Property Has Adult Uses: Yes: - No: - No: - No: - No: - No: X (as of 3/l 011 0) No: X (see NLP note) No: X No: X Underwriting Committee Results Underwriting Committee Members: Cynthia Miller (City of Tampa), Sharon Fox (City of Tampa), and Ken Garcia (Ybor CAC) Recommend Denial El Recommend Approval Grant Amount Approved: 50% of qualified costs not to exceed $ Note: Admin/inspection fees, title search, recording fees, and other closing costs on this Grant award will total $1, These fees will also be drawn from the Ybor 2 Program funds. 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. Property taxes were not paid as of March 10, Special conditions of the recommended grant award and total funding: I. The Grant award shall be for fifty (50%) percent of the cost of the approved facade scope of work, based on final plans and actual construction bids, not to exceed $23, The following requirements must be verified before closing the Grant award: a. Owner must obtain a "Certificate of Appropriateness" from the Barrio Latino based on plans and designs that are materially similar to the Project Plans submitted in the Grant application, b. The Pro-ject Budget and scope of work shall be materially similar to the budget and scope of work submitted in the Grant application, c. All property taxes due must be paid, and d. There shall be no additional liens on the property beyond the existing $35,000 1" lien - the Grant Lien shall be recorded as the 2nd lien. 3. Owner shall secure property insurance upon the completion of the project - $4,000 of the grant funding shall be withheld until evidence of obtaining property insurance is verified. Page 2 of 2

5 NOTICE OF LIEN i Prepared By and Return To: Salvatore Territo, Esquire CRA Attorney For The City of Tampa 306 East Jackson Street Tampa, FL Recording Information: FOR LJSE WITH ALL COMMUNITY REDEVELOPMENT AREA FACADE GRANT PROGRAM AWARDS Community Redevelopment Area Facade Grant Program NOTICE OF LIEN PROPERTY ADDRESS: 2426 E. 7'h Avenue, Tampa, FL BY: Highland Properties of Tampa Bay, Inc, Richard Chad as authorized anent (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 Twenty-Three Thousand, Two Hundred, Nine Dollars & 00/100 ($23,209.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at 2426 E. 7Ih 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 Twenty-Three Thousand, Two Hundred, Nine Dollars & ($23,209.00) (Grant) to be used for the construction of Grant qualified and approved improvements upon the Property. Page I of 3

6 . Community Redevelopment Area Facade Grant Program,! NOTICE OF LIEN Grantee acknowledges that the Grant commitment has been documented by the mutual execution of a Grant Agreement (Agreement), dated May 13, 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) BY: (Name typed or printed) 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 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 13'h day of May. 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 Richard Chad as authorized agent for Highland Properties of Tampa Bay, Inc (Owner), the Owner of certain real estate located at 2426 E. 7"' Avenue, City of Tampa, Hillsborough County, and State of Florida. RECITALS 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 2 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 2426 E. 7'" Avenue, Tampa, Florida (Property), as further defined in Exhibit A, and said Property is within the Ybor 2 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 award for fifty (50%) percent of qualified project costs, not to exceed Twenty-Three Thousand, Two Hundred, Nine Dollars & ($23,209.00), to be used for constructing the qualified improvements described in the Grant application and Project budget. ARTICLE I: AGREEMENT As security for Grantor's payment to Grantee, of a Grant award for fifty (50%) percent of qualified project costs: not to exceed Twenty-Three Thousand, Two Hundred, Nine Dollars & ($23,209.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at E. 7Ih 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: I) The Grant award shall be for fifty (50%) percent of the cost of the approved facade scope of work, based on final plans and actual construction bids, not to exceed $23, ) The following requirements must be verified before closing the Grant award: a) Owner must obtain a "Certificate of Appropriateness" from the Barrio Latino based on plans and designs that are materially similar to the Project Plans submitted in the Grant application, Page 2 of 12

10 ommunity Redevelopment Area Facade Grant Program : The Project Budget and scope of work shall be materially similar to the budget and scope of work submitted in the Grant application, All property taxes due must be paid, and There shall be no additional liens on the property beyond the existing $35,000 ls' lien - the Grant Lien shall be recorded as the 2nd lien. 3) Owner shall secure property insurance upon the completion of the project - $4,000 of the grant funding shall be withheld until evidence of obtaining property insurance is verified. ARTICLE 11: 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 1. I) 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: The completed Project must be materially as presented in the approved plans. All Project work must adhere to City of Tampa building codes and standards. 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. All Project work must be performed by contractors licensed in the City of Tampa. Project work must start within the earlier of: Page 3 of 12

11 L Community Redevelopment Area Facade Grant Program Grant A~reement and Declaration of Covenants and Restrictions 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 (I) 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.): Payment of Ad Valorem taxes on the Property must be kept current. Property insurance on the Property must be maintained and proof of said insurance must be provided to the Agency. The Property must continually be maintained and in good repair. Representatives of the Agency andlor their designee shall be allowed access to the Property at all reasonable times to determine that the Property is being maintained. Property shall not be leased to or occupied by an adult use as defined in the City of Tampa Code of Ordinances, Sec 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: 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. 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. Page 4 of 12

12 iii) If Agency, at its sole discretion, declines to consent to the proposed change of ownership, Owner shall not proceed with the transaction. ARTICLE 111: DEFAULTS AND REMEDIES I ) 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. 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:

13 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) lnterest 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. 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. Page 6 of 12

14 / 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 I) 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 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. Page 7 of I2

15 -- 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 shail in no way be affected, impaired, or invalidated thereby. 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. 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. 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. 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 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. 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. Page 8 of 12

16 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: Highland Properties of Tampa Bay, Inc Richard Chad as authorized agent 1608 E 5'h Avenue Tampa, Florida Telephone: Facsimile: If to Agency: City of Tampa, Florida C/O City Attorney 3 15 East Kennedy Boulevard Tampa, Florida Telephone: (8 1 3) Facsimile: (8 13) With Copy to: City of Tampa, Florida C/O Economic Development Administrator 306 E. Jackson Street, 2nd Floor North Tampa, Florida Telephone: (8 13) Facsimile: (8 13) 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) BY: - (Name typed or printed) State of Florida County of Hillsborough The foregoing instrument was acknowledged before me this day of , 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 10of 12

18 COMMUNITY REDEVELOPMENT AGENCY BY: Gwen Miller, Chairman ATTEST: City ClerkIDeputy City Clerk 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 Ofice Page 11 of 12

19 EXHIBIT A LEGAL DESCRIPTION Page 12 of 12

20 CRA RESOLUTION NO. 20 l O- 6 A RESOLUTION APPROVING A GRANT AGREEMENT AND DECLARATION OF COVENANTS AND OBLIGATIONS BY AND AMONG THE COMMUNITY REDEVELOPMENT AGENCY OF TAMPA. FLORIDA AND CARMINE IAVARONE, AS AUTHORIZED AGENT FOR JUNGLELAND, 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 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; 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, Carmine lavarone, as authorized agent for Jungleland, Inc. (the "Owner") has applied for a Program Grant to construct improvements on certain real estate located at 1802 East 7Ih Avenue (Property) Tampa, Florida, as further defined in Exhibit A, and said Property is within the Ybor 1 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 Pro-ject budget.

21 NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TAMPA, FLORIDA: Section I. That the Grant Agreement and Declaration of Covenants and Obligations by and among the Community Redevelopment Agency of Tampa, Florida and Carmine Iavarone, as authorized agent for Jungleland, 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 official 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 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 CITY OF TAMPA, FLORIDA, ON MAY PREPARED BY AND APPROVED AS TO LEGAL SUFFICIENCY: E/S SALVATORE TERRITO CHIEF ASSISTANT CITY ATTORNEY

22 CITY OF TAMPA Pam lorio, Mayor Economic & Urban Development Department Mike Chen, Development Services Manager TO: MEMORANDUM Chairman Miller and Community Redevelopment Agency Board Members THROUGH: Mark Huey, Economic Development Administrator FROM: Mike Chen, Development Services Manager RE: CRA Facade Grant Program - Grant application action for 1802 E. 7Ih Avenue DATE: May 13,2010 The Facade Grant Underwriting Committee met on April 23, to review and take action on a Grant application. The purpose of this memo and the attached resolution is to obtain your approval for the CRA Chair to execute the appropriate documents, thus allowing us to finalize the Grant award. A summary of the application and the Underwriting Committee's recommendation follows Amount of Grant Requested: $50,000 (maximum Program limit) Property Owner 1 Authorized Agent: Jungleland, Inc/Carmine lavarone Property Address: 1802 E. 7Ih Avenue CRA: Ybor 1 Property Stats (HC Assessor): Building: 12,005sf Land: 9,975sf Market Value: As Is: $770,330 Completed: $900,775 Architectural Review Approved: No (Barrio review has not been scheduled) Project Budget - SourcesAJses of Funds Total Project Cost: $130,445 Owner's Funds: $ 80,445 Other Funds: $ Grant Reauest: $ Total Funding: $130, Source: savings account 1 line of credit Source: 306 E. Jackson Street Tampa, Florida (813) FAX: (813)

23 Grant I Completed Value Ratio: Grant Only: 5.6% Grant + All Liens: 5.6% Public Funding In Project: Grant Only: 38.3% Grant + Other Public Funds: 38.3% Due Diligence Verifications EUD Has Approved the Project Plans: Project Supports CRAICommunity Plans: Property Owner I Agent Matches Applicant: Property Is Commercial 1 Retail Use: Property Ad Valorem Taxes Are Current: Property Insurance on Subject Property: Property Has Outstanding Code Violations: Property Has Adult Uses: Yes: -& No: Yes: X No: Yes: X No: Yes: X No: Yes: X No: Yes: X No: Yes: - No: X Yes: - No: X Underwriting Committee Results Underwriting Committee Members: Cynthia Miller (City of Tampa), Sharon Fox (City of Tampa), and Ken Garcia (Ybor CAC) Recommend Denial El Recommend Approval Grant Amount Approved: 50% of qualified costs not to exceed $ 50, Note: Adminlinspection fees, title search, recording fees. and other closing costs on this Grant award will total $1, These fees will also be drawn from the Ybor 1 Program funds. Special Conditions of the Grant Award and Funding The following requirements must be verified before closing the Grant award: Owner must obtain a "Certificate of Appropriateness" from the Barrio Latino based on plans and designs that are materially similar to the Project Plans submitted in the Grant application, The Project Budget and scope of work shall be materially similar to the budget and scope of work submitted in the Grant application, and There shall be no liens on the property - the Grant Lien shall be recorded as the 1st lien. (Owner represented that there are no liens on the property. Due diligence discovered three liens. These liens may reflect past loans that have been paid in full and simply not been released. Verification will occur through the title search.) Page 2 of 2

24 L Community Redevelopment Area Facade Grant Program NOTICE OF LIEN Prepared By and Return To: Salvatore Territo, Esquire CRA Attorney For The City of Tampa 306 East Jackson Street Tampa, FL FOR USE WITH ALL COMMUNITY REDEVELOPMENT AREA FACADE GRANT PROGRAM AWARDS Community Redevelopment Area Facade Grant Program NOTICE OF LIEN PROPERTY ADDRESS: 1802 E. 7& Avenue, Tampa, FL BY: Carmine lavarone as authorized agent for Jungleland, Inc (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 & ($50,000.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at 1802 E. 7th 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 & ($50,000.00) (Grant) to be used for the construction of Grant qualified and approved improvements upon the Property. Page 1 of 3

25 ; Community Redevelopment Area Facade Grant Program NOTICE OF LIEN Grantee acknowledges that the Grant commitment has been documented by the mutual execution of a Grant Agreement (Agreement), dated May 13, 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) BY: (Name typed or printed) 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

26 NOTICE OF LIEN EXHIBIT A LEGAL DESCRIPTION Page 3 of 3

27 Grant Aqreement and Declaration of Covenants and Oblinations This Grant Agreement and Declaration of Covenants and Obligations (Agreement) is entered into this1 3th day of May, 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 Carmine Iavarone, as authorized agent for Jungleland, Inc (Owner), the Owner of certain real estate located at 1802 E. 7Ih Avenue. City of Tampa, Hillsborough County, Florida. RECITALS 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 I 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 1802 E. 7th Avenue, Tampa, Florida (Property), as further defined in Exhibit A, and said Property is within the Ybor I CRA. WHEREAS, Owner depicted a property improvement plan (Prqject) 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 I of 12

28 WHEREAS, the Agency has approved a Grant award for fifty (50%) percent of qualified project costs, not to exceed Fifty Thousand & 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 Grantor's payment to Grantee, of a Grant award for fifty (50%) percent of qualified project costs, not to exceed Fifty Thousand & Dollars ($50,000.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at 1802 E. 7Ih 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) The following requirements must be verified before closing the Grant award: a) Owner must obtain a "Certificate of Appropriateness" from the Barrio Latino based on plans and designs that are materially similar to the Project Plans submitted in the Grant application, b) The Pro-ject Budget and scope of work shall be materially similar to the budget and scope of work submitted in the Grant application, and Page 2 of 12

29 C) There shall be no liens on the property - the Grant Lien shall be recorded as the 1 '' lien. (Owner represented that there are no liens on the property. Due diligence discovered three liens. These liens may reflect past loans that have been paid in full and simply not been released. Verification will occur through the title search.) ARTICLE 11: 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 Pro-ject work must adhere to City of Tampa building codes and standards. 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 ( I) 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:

30 i) One (I) year from the Commitment Date, or ii) One ( I) 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.): Payment of Ad Valorem taxes on the Property must be kept current. Property insurance on the Property must be maintained and proof of said insurance must be provided to the Agency. The Property must continually be maintained and in good repair. Representatives of the Agency andlor their designee shall be allowed access to the Property at all reasonable times to determine that the Property is being maintained. Property shall not be leased to or occupied by an adult use as defined in the City of Tampa Code of Ordinances, Sec 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: 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. 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.

31 ARTICLE 111: DEFAULTS AND REMEDIES 1) Defaults: A default shall have occurred if: Grant proceeds are used for a purpose other than approved, qualified Grant expenses, or 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 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. 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.

32 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) lnterest 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. iii) lnterest 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

33 C 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: Entire Agreement: This Agreement along with any agreements or documents executed in conjunction herewith constitutes the entire agreement between the parties hereto pertaining 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. 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. 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. 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 Page 7 of 12

34

35 L Community Redevelopment Area Facade Grant Program 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: Jungleland, Inc Carmine lavarone, Authorized Agent 1802 E. 7th Avenue Tampa, FL Telephone: I26 If to Agency: City of Tampa, Florida C/O City Attorney 3 15 East Kennedy Boulevard Tampa, Florida Telephone: (8 13) Facsimile: (8 1 3) With Copy to: City of Tampa, Florida C/O Economic Development Administrator 306 E. Jackson Street, 2"d Floor North Tampa, Florida Telephone: (8 1 3) Facsimile: (81 3)

36 : Community Redevelopment Area Facade Grant Program 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) BY: (Name typed or printed) State of Florida County of Hillsborough The foregoing instrument was acknowledged before me this day of , 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

37 COMMUNITY REDEVELOPMENT AGENCY BY: Gwen Miller, Chairman ATTEST: City ClerkIDeputy City Clerk 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 Il of 12

38 ; Community Redevelopment Area Facade Grant Program EXHIBIT A LEGAL DESCRIPTION Page 12 of 12

39 CRA RESOLUTION NO A RESOLUTION APPROVING A GRANT AGREEMENT AND DECLARATION OF COVENANTS AND OBLIGATIONS BY AND AMONG THE COMMUNITY REDEVELOPMENT AGENCY OF TAMPA, FLORIDA AND. FRANK CAPITANO, AS AUTHORIZED AGENT FOR YBOR PROPERTY GROUP, LLC, 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 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; and WHEREAS, the Ybor 1 CRA has allocated Tax Increment Financing (TIF) funds for the Program and is a participant in the Program; and WHEREAS, Frank Capitano, as authorized agent for Ybor Property Group, LLC., (the "Owner") has applied for a Program Grant to construct improvements on certain real estate located at E. 7'h Avenue, Building A & Building B (Property) Tampa, Florida, as further defined in Exhibit A, and said Property is within the Ybor 1 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 & 00/100 Dollars ($50,000.00) for each application, to be used for constructing the qualified improvements described in the Grant application and Project budget.

40 NOW, THEREFORE, BE IT RESOLVED BY THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF TAMPA, FLORIDA: Section I. That the Grant Agreement and Declaration of Covenants and Obligations by and among the Community Redevelopment Agency of Tampa, Florida and Frank Capitano, as authorized agent for Ybor Property Group, LLC., 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 official 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 I (Ybor CRA Fund), not to exceed $1 00, Section 4. 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 CITY OF TAMPA, FLORIDA, ON MAY ATTEST: V REDEVELOPMENT AGENCY PREPARED BY AND APPROVED AS TO LEGAL SUFFICIENCY: E/S SALVATORE TERRlTO CHIEF ASSISTANT CITY ATTORNEY

41 CITY OF TAMPA Pam Iorio, Mayor Economic & Urban Development Department Mike Chen, Development Services manager TO: MEMORANDUM Chairman Miller and Community Redevelopment Agency Board Members THROUGH: Mark Huey, Economic Development Administrator FROM: Mike Chen, Development Services Manager RE: CRA Facade Grant Program - Grant application action for 1805 E. 7Ih Avenue DATE: May The Facade Grant Underwriting Committee met on April 23, to review and take action on a Grant application. The purpose of this memo and the attached resolution is to obtain your approval for the CRA Chair to execute the appropriate documents, thus allowing us to finalize the Grant award. A summary of the application and the Underwriting Committee's recommendation follows. Amount of Grant Requested: $50,000 (Program limit) for each application - $100,000 total Property Owner / Authorized Agent: Ybor Property Group, LLC 1 Frank Capitano Property Address: 1315 E. 7Ih Avenue, Building A & Building B CRA: Ybor 1 Property Stats (Dennis Noto appraisal): Building: 22,gOOsf / Land: 19,950sf Market Value (Dennis Noto appraisal): As IS: $1,620,000 / Completed: $3,275,000 Architectural Review Approved: Yes, approval date 1 1/24/09. Project Budget - SourcesKJses of Funds Building A: $874,178 Building B: $788,348 Total Cost: $1,662,496 Owner's Funds: $ 562,496 Other Funds: $1,000,000 Grant Request: $ 100,000 Total Funding: $1,662,496 Source: personal checking Source: Interstate Trust Fund loan 306 E. Jackson Street Tampa, Florida (813) FAX: (813)

42 Grant 1 Completed Value Ratio: Grant Only: 3.1% Grant + All Liens: 33.6% Public Funding In Project: Grant Only: 6.0% Grant + Other Public Funds: 66.2% Due Diligence Verifications EUD Has Approved the Project Plans: Project Supports CRAICommunity Plans: Property Owner I Agent Matches Applicant: Property Is Commercial 1 Retail Use: Property Ad Valorem Taxes Are Current: Property Insurance on Subject Property: Property Has Outstanding Code Violations: Property Has Adult Uses: Project Budget Attached: Yes: No: - Yes: X No: - Yes: X No: - Yes: X No: - Yes: J- No: - Yes: X No: - Yes: X No: - (from Jan 09) Yes: - No: Yes: X No: - Underwriting Committee Results Underwriting Committee Members: Cynthia Miller (City of Tampa). Sharon Fox (City of Tampa), and Ken Garcia (Ybor CAC) Recommend Denial El Recommend Approval Grant Amount Approved: 50% of qualified costs not to exceed $100, Note: Adminlinspection fees, title search, recording fees, and other closing costs on this Grant award will total $3, These fees will also be drawn from the Ybor I Program funds. Special conditions of the recommended grant award and total funding: I. The Grant award is to be fifty (50%) percent of total project cost in excess of $1,370,000 for both buildings, not to exceed $100, The Covenants and Obligations of the Grant Agreement shall be secured by a lien on all property associated with the buildings - three parcels. 3. Grant to be disbursed as a lump sum upon verification of: a. Completion of the overall project, including facade improvements supported by this Grant, as evidenced by the City's approval and issuance of a "Certificate of Occupancy" through its normal course of business, b. A satisfactory inspection report by Neighborhood Lending Partners, Inc., confirming: i. The project was completed in accordance with the Project Plans submitted in the Grant Application, The Facade Grant lien is in 3rd position. subordinate to the BB&T and Interstate Trust Fund liens, and Verification of paid third-party receipts evidencing the total project cost and the appropriate amount of the disbursement. Page 2 of 2

43 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: E. 7' Avenue, Tampa, FL BY: Ybor Property Group, LLC, Frank Capitano 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 One Hundred Thousand Dollars & 00/100 ($100,000.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at 1315 E 7'h 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 One Hundred Thousand Dollars & 00/100 ($100,000.00) (Grant) to be used for the construction of Grant qualified and approved improvements upon the Property. Page I of 3

44 NOTICE OF LIEN 1 Grantee acknowledges that the Grant commitment has been documented by the mutual execution of a Grant Agreement (Agreement), dated May 13, 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) BY: (Name typed or printed) 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

45 NOTICE OF LIEN EXHIBIT A LEGAL DESCRIPTION Page 3 of 3

46 Grant Agreement and Declaration of Covenants and Obliqations This Grant Agreement and Declaration of Covenants and Obligations (Agreement) is entered into this 13Ih day of May, 20 10, 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 Frank Capitano, as authorized agent for Ybor Property Group, LLC (Owner), the Owner of certain real estate located at 1315 E. 7Ih Avenue, City of Tampa, Hillsborough County, and State of Florida. RECITALS 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 I 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 1315 E. 7"' Avenue, Tampa, Florida (Property), 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

47 WHEREAS, the Agency has approved a Grant award of fifty (50%) percent of total project cost in excess of $1,370,000 for both buildings, not to exceed One Hundred Thousand & Dollars ($100,000.00), to be used for constructing the qualified improvements described in the Grant application and Project budget. ARTICLE I: AGREEMENT As security for Grantor's payment to Grantee, of a Grant award of fifty (50%) percent of total project cost in excess of $1,370,000 for both buildings, not to exceed One Hundred Thousand & Dollars ($100,000.00), the Grantee consents to the imposition of a Contractual Lien on the Grantee's Real Property located at 1315 E. 7th 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 Prqject, 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: The Grant award is to be fifty (50%) percent of total project cost in excess of $1,370,000 for both buildings, not to exceed $100,000. The Covenants and Obligations of the Grant Agreement shall be secured by a lien on all property associated with the buildings - three parcels. Grant to be disbursed as a lump sum upon verification of:

48 I a) Completion of the overall project, including facade improvements supported by this Grant, as evidenced by the City's approval and issuance of a "Certificate of Occupancy" through its normal course of business, b) A satisfactory inspection report by Neighborhood Lending Partners, Inc., confirming: i) The project was completed in accordance with the Project Plans submitted in the Grant Application, ii) The Facade Grant lien is in 3rd position, subordinate to the BB&T and Interstate Trust Fund liens, and iii) Verification of paid third-party receipts evidencing the total project cost and the appropriate amount of the disbursement. ARTICLE 11: 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. I) 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. 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 Page 3 of 12

49 i Community Redevelopment Area Facade Grant Program P architectural review commission and all Pro-ject 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 (I) 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 (I) 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.): Payment of Ad Valorem taxes on the Property must be kept current. Property insurance on the Property must be maintained and proof of said insurance must be provided to the Agency. The Property must continually be maintained and in good repair. 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. Property shall not be leased to or occupied by an adult use as defined in the City of Tampa Code of Ordinances, Sec 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: 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 Page 4 of I2

50 L Community Redevelopment Area Facade Grant Program Grant Aareement and Declaration of Covenants and Restrictions from the proposed successor attesting to their willingness to be bound by this Agreement, and other information reasonably requested by Agency. 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 111: 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 fimds 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. 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 Page 5 of 12

51 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. 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:

52 i Community Redevelopment Area Facade Grant Program 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 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. Page 7 of 12

53 i Community Redevelopment Area Facade Grant Program 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. 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. 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. 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. 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. 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. 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 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 Page 8 of 12

54 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: Ybor Property Group, LLC Frank Ca itano, Authorized Agent 1320 E 9 P Avenue Tampa, Florida Telephone: Facsimile: If to Agency: City of Tampa, Florida C/O City Attorney 3 15 East Kennedy Boulevard Tampa, Florida Telephone: (8 13) Facsimile: (8 13) With Copy to: City of Tampa, Florida C/O Economic Development Administrator 306 E. Jackson Street, 2nd Floor North Tampa, Florida Telephone: (8 13) Facsimile: (81 3)

55 i Community Redevelopment Area Facade Grant Program 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) BY: - (Name typed or printed) State of Florida County of Hillsborough The foregoing instrument was acknowledged before me this day of 2009, 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

56 i Community Redevelopment Area Facade Grant Program COMMUNITY REDEVELOPMENT AGENCY BY: Gwen Miller, Chairman ATTEST: City ClerWDeputy City Clerk 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 I l of I2

57 Grant Aareement and Declaration of Covenants and Restrictions EXHIBIT A LEGAL DESCRIPTION Page 12 of 12