AGREEMENT RE ATRIUM (2)
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INTERLOCAL AGREEMENT
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This Interlocal Agreement is made and entered into this ~day of
2000, by and between the Community Redevelopment Agency (CRA) of t City
of Clearwater, Florida, a redevelopment agency of the City of Clearwater, and
the Downtown Development Board (DDB), a special district organized and
operating pursuant to the ordinances and laws of the City of Clearwater.
WHEREAS, the CRA and the DDB had previously executed a
Participation Agreement, dated October 11, 1983, in which the DDB had
obligated itself to transfer certain monies to the CRA on a yearly basis
specifically designated for the acquisition of land to construct an office-retail
building and parking garage known as the Atrium Project located at 601
Cleveland Street, Clearwater, Florida; and
WHEREAS, the CRA has executed the sale of the Atrium Project as of
December 14, 1993; and
WHEREAS, the CRA and the DDB have jointly agreed that the DDB
financial obligation for the said property will be redirected; and
WHEREAS, the CRA and the DDB have jointly agreed that the Atrium
Project fund balance of $117,723.22 should now be redirected to economic
development activities.
NOW THEREFORE, in consideration of the covenants made by each
party to the other and of the mutual advantages to be realized by the parties
hereto, the CRA and the DDB agree as follows:
Section 1. Term. The term of this interlocal agreement will be for 15
years beginning February 1, 2000 through January 1, 2015.
Section 2. Intent. It is the intent of the parties that the monies
specifically designated for the Atrium Project to be transferred to the CRA by the
DDS and redirected for the purposes of economic development activities,
including but not limited to fayade improvement grants, economic development
incentives or special redevelopment projects.
Section 3. Amount. The amount of monies to be transferred from the
DDS to the CRA for the purposes of economic development activities referred to
above is 7,848.22 annually, to be distributed beginning February 1, 2000, and
payable February 1 of each year thereafter until the total amount of $117,723.22
is paid in full.
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Section 4. Notice. Notice by either party to the other pursuant to this
Interlocal Agreement shall be given in writing and hand-delivered or mailed as
follows:
Chairperson, Board of Trustees
Community Redevelopment Agency
P.O. BOX 4748
Clearwater, FL 33758-4748
Chairperson, Downtown Development Board
P.O. BOX 1225
Clearwater, FL 33757
Section 5. Entire Agreement. This document embodies the whole
Agreement of the parties. There are no promises, terms, conditions or
allegations other than those contained herein. This Agreement shall be binding
on the parties, their successors, assigns and legal representatives.
IN WITNESS WHEREOF, the parties hereto, or their lawful
representatives, have executed this agreement as of the date first above written.
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF CLEARWATER, FLORIDA
BY:
Chairper , Board of Tru tees
Brian J. Aungst
Approved as to form: ATTEST:
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Pamela K. Akin, City Attorney
DOWNTOWN DEVELOPMENT BOARD
Chairperson, Glenn Warren
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