WAKELY AND ASSOCIATES INC TO RELOCATE HEADQUARTERS TO CLEARWATER
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AGREEMENT
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THIS AGREEMENT made and entered into this L!.. day of . ,
1999, between the City of Clearwater, a municipal corporation (City), Community
Redevelopment Agency (CRA), and Wakely and Associates, Inc. (Wakely).
WHEREAS, Wakely is an actuarial and consulting firm which employs
approximately one hundred and twenty-five (125) employees and is relocating its
headquarters into the City of Clearwater; and
WHEREAS, the City and CRA are willing to offer Wakely an incentive
package with a total value of approximately One Hundred Thousand Dollars
($100,000.00) for such relocation so long as Wakely meets the terms and
conditions of this agreement.
NOW, THEREFORE, the parties agree as follows:
1. The term of this Agreement shall be for seven (7) years from the
date of execution of a lease agreement by Wakely for its headquarters in
downtown Clearwater.
2. Wakely agrees to relocate its headquarters to the City and shall
enter into a lease for at least twenty thousand (20,000) square feet of Class A
office space in downtown Clearwater for its approximately one hundred and
twenty-five (125) employees within one hundred and twenty (120) days from the
date of this Agreement.
3. Upon signing of said lease, CRA agrees to assist Wakely in
equipping its headquarters with Twenty Thousand Dollars ($20,000.00) from the
Brownfield Stabilization Fund.
4. City and CRA shall also jointly assist Wakely by providing fifty (50)
parking spaces in the Garden Avenue Garage. The estimated value of such
spaces shall not exceed Eighty Thousand Dollars ($80,000.00). Any cost in
excess of Eighty Thousand Dollars ($80,000.00) shall be paid by Wakely. City
shall provide the fifty (50) parking spaces in the Garden Avenue Garage at a cost
of Forty Thousand Dollars ($40,000.00), subsidized by the City Parking System.
CRA shall pay the City Parking System Forty Thousand Dollars ($40,000.00) for
the cost of providing the fifty (50) parking spaces. This parking incentive shall
take effect when Wakely confirms employment of more than ninety-six (96)
employees at its downtown location.
5. Wakely agrees to reimburse Ten Thousand Dollars ($10,000.00) to
City if Wakely fails to maintain its leased headquarters in the City for at least
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three (3) years from the date of the execution of the lease agreement. Wakely
agrees that, upon termination of its lease for any reason, this Agreement with the
City and CRA shall be null and void without any further obligation on the part of
the City and/or CRA.
IN WITNESS WHEREOF, the parties hereto have set their hands and
seals the day and year first hereinabove written.
Rita Garvey
Mayor-Commissioner
Approved as to form:
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John Carassas
Assistant City Attorney
Approved as to form:
~~. Akin
City Attorney
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By:
Its
CITY OF CLEARWATER, FLORIDA
By:
Michael J. Roberto
City Manager
Attest:
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~C~nthia E. Go~a!J "-. _.---
1)- City Clerk - "" .-.-.-
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COMMUNITY REDEVELOPMENT AGENCY
OF THE OF C ARWATER, FLORIDA
By:
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Attest:
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~Cynlhia E"Gi~.~. ea~ ~.. /~
() City Clerk ...... . ." .
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