PARTICIPATION AGREEMENT
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TO:
FROM:
COPIES:
SUBJECT:
DATE:
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Lucille Williams
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City Clerk
Joseph R. McFate - Community Development
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CITI' OF CLEARWATER
Interdepartment Correspondence Sheet
DirectrJ'MU=
Participation Agreement - Clearwater Downtown Development Board
October 27, 1983
I am enclosing the originally executed document described above for
your records. A copy has been retained for our files.
JRM:nt
Enc.
RECEiVED
OCT 28 1983
~,.>~TY CLERK
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PAR TICIPA TION AGREEMENT
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THIS AGREEME~T entered into this II day of (9..t..CW
A. D. 1983, by the CLEAR WATER REDEVELOPMENT AGEl'lCY, an
Agency created by virtue of Chapter 163, Florida Statutes, hereinafter
called lithe Agency", and CLEAR W A:r ER DOWNTOWl'l DEV ELOPMEl'lT
BOARD,_ a Board created pursuant to Chapter 70-635, Laws of Florida
(1970), now Article IV of Chapter 22, of the Code of Ordinances, City of
Clea' water, hereinafter called lithe Participating Agency";
WITNESSETH:
WHEREAS, the Participating Agency was established to perform
the function, inter alia, of participating actively in the implementation and
execution of downtown development plans, including the acquisition and
financing of publicly owned facilities deemed feasible and beneficial in
effecting implementation of public purposes; and
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WHEREAS, the Agency has received and accepted a proposal to
redevelop a portion of the downtown area, as defined in the Code of
Ordinances, through the acquistion and construction of an office-retail
building and parking garage; and
WHEREAS, that proposal contemplates the acquisition of certain
land within the downtown area by the Agency; and
WHER EAS, the Participating Agency in order to induce the Agency
to approve t."1e Development Agreement for tb.at project and to authorize the
acquisition of the real property required therefor by condemnation utilizing
its power of eminent domain, has agreed to reimburse the Agency for certain
costs thereof; and
WHEREAS, t.."1e Agency, in reliance on the proreise of the ?articipating
Agency to pay a portion of those costs, has approved the Development
Agreement and t..;,.e acquisition of the real property required by acioption c:
Resolutions :-':0. 83-2 (CRA) and ):0. 83-3 (CRA); a::d
WHEREAS, the parties now desire to rec.ice sucr.. cc:::r.:i~e::t
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THEREFORE, bct.~ ?arties agree a.s follcws:
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1. 'The Agency agrees to proceed as part of its downtown redevelopment
plan to implement the acquisition of the property identified in Resolutions
No. 83-2 (CRA) and No. 83-3 (CRA).
2. The Participating Agency for its part in the implementation and
execution of the downtown redevelopment plan. which includes the acquisition
identified above, agrees to reimburse the Agency one-half (1/2) the costs
of acquisition ~hich are in excess of $650,000. Such reimbursement shall
be paid to the Agency on an annual basis according to the following formula
An amount equal to the increment in revenues of the
Participating Agency derived from the above described
project, which increment shall be determined annually
and shall be that amount equal to the difference between:
(a) The amount of ad valorem taxes levied each year by
the Participating Agency upon the property described
in Exhi bi t A; and
(b) The amount of ad valorem taxes which would have
been produced by the rate upon which the tax is levied
each year upon the property described in Exhibit A as
shown upon the now effective assessment roll used in
connection with the taxation of such property by the
Participa ting Agency.
3. Should the Agency be unable to acquire the property or should
it abandon the project, then the Participating Agency. s obligation shall
cease.
4. The above constitutes the entire agreement between the
parties.
5. This Agreement shall be governeci by the laws of Florida.
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IN \VIT~ESS WHEREOF, the parties hereto have executed t.his
Agreement on the day and year first above written.
CLEARWATER REDEVELOPMENT AGENCY
Attest:
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Commis s ionet!t
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City ~lerk
CLEARWATER DOWNTOWN
DEVELOP NT B
By
Attest:
CA~A-/ ~~AP~
Secretary
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That cer~ain piece, parcel or ~ract o~ land, situate, lying and bein; in the
county of Pinellas, State of Florida, more particularly bounded and describe:
as follows:
The former right-oi-way of ~he Atlantic Coast Line Railroad lyin~
bet,,'een Blocr. 13 anc Block 20 of GOULD & Et.\ING' S SE.cO!~D ADDITIC:;
TO C1.!.A~i.;j:.!=.F.. FLG:UD';. accorcinc: to the plat. thereof recordec i:.
Plat Book I, Page 52, Public Ftecords 0: Hillsborough County,
Florida, of which Pine11asCounty was formerly a par~.
That certain piece, parcel or tract of 1anc, situate, lying and being in
the ~ounty of Pine11as, State of Florida, more particular1y bounded anc
described as follows:
All that vo1ume of air space consisting of that portion of
Lots 1, 2, 3, 12, 13, and 14 in Block 6 of }~GNOLIA PARK,
according to the plat thereof recorded in Plat Book 1, page
70, of the Public Records of Hillsborough County, of which
Pinellas County was formerly a part, together with the former
right-of-way of the Atlantic Coast Line Railroad adjoining
said Block on the West, lying between a plane at approximately
- elevation 47.5 and a plane at approx~ately elevation 67.5
o. S. Coast & Geodetic Survey datum, together with easements
as required for supporting structures and ingre~s and egress.
That certain piece, parcel or tract of land, situate, lying and being in the
County of Pinellas, State of Florida, more particularly bounded and described
as follows:
Lots 1, 2, 3, and 4, in Block 13, of GOULD & EWING'S SECO~~ ADDITION
TO CL~~~ATER, FLORIDA, according to the plat thereof recorded in
Plat Book 1, page 52, Public Records of Hillsborough County, FloridQ,
of ~hich Pinellas County was former~y'a part; together with tha~
portion of said Block ~3 which was for.cerly an alley running eas~
and west through said Block 13.
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