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INTERLOCAL AGREEMENT FOR THE FURTHERANCE OF THE DOWNTOWN REDEVELOPMENT PLAN INTERLOCAL AGREEMENT ~ This Interlocal Agreement is made and entered into this ~ day of ~ ,2008, by and between the Community Redevelop ent Agency of the City of Clearwater, Flonda (CRA), a redevelopment agency established pursuant to law, and the Downtown Development Board (DDB), a special district organized and operating pursuant to the ordinances and laws of the City of Clearwater. WHEREAS, Florida Statutes 163.387 requires all taxing authorities to make an annual appropriation in an amount equal to the incremental increase in the ad valorem revenue within the CRA area; and WHEREAS, the DDB is a taxing authority within the meaning of the statute; and WHEREAS, the CRA and the DDB in the spirit of cooperation desire to offer the downtown constituents the opportunity to utilize more efficiently the public dollars collected for each entity; and WHEREAS, the CRA and the DDB have a special obligation to ensure wise and sound administration of the programs, including the Main Street Program; and WHEREAS, the CRA and the DDB desire to enter into an Interlocal Agreement outlining the scope of services and responsibilities of the parties; and WHEREAS, the DDB desires to financially support the construction debt service, operation, and maintenance of the boat slips, docks, boardwalk, promenade and related facilities proposed to be constructed in the Downtown Waterfront ("Proposed Facilities"); and WHEREAS, the CRA and the DDB wish to enter into an Interlocal Agreement pursuant to Florida Statutes 163.01, in order to provide for the DDB's contribution to the Proposed Facilities; and WHEREAS, the CRA and the DDB wish to enter into an Interlocal Agreement pursuant to Florida Statues 163.01, in which the DDB agrees to perform certain responsibilities and functions consistent with and in furtherance of the Downtown Redevelopment Plan, in return for an amount equal to the difference between the increment payment of $148,146 and the $57,480 the DDB pays the CRA for administration. 2008-09 CRAlDDB Interlocal Agreement NOW THEREFORE, in consideration of the covenants made by each party to the other and of the mutual advantages to realized by the parties hereto, the DDS and the CRA agree as follows: Section 1. Term. The term of this Interlocal Agreement will be October 1, 2008 through September 30, 2009. Section 2. Intent. It is the intent of the parties that the moneys paid to the CRA by the DDS pursuant to Florida Statutes 163.387, commonly referred to as the tax increment payment, be used to advance the goals and objectives of the Downtown Redevelopment Plan. The CRA shall retain $57,480 to offset the cost of administration of the DDS as further described herein. The remaining money shall be returned to the DDS by the CRA in exchange for performance of certain responsibilities and functions consistent with and in furtherance of the Downtown Redevelopment Plan, by the DDS. Further, with the approval of the Proposed Facility by the voters at referendum, it is the intent of the DDS to provide for a contribution over 10 years in an amount not to exceed $500,000, to the cost of construction debt service, operation, and maintenance of the Proposed Facility. Section 3. Responsibilities of the DDS. 1. Function: a. Collaborate with the CRA on projects and programs, which succeed in bringing businesses and residents into the downtown district b. Focus on business and enterprise development, job creation and initiatives related to increasing income and employment opportunities c. Encourage public-private partnerships to promote business relocation and expansion d. Market, promote and assist with business recruitment e. Interact with constituents and facilitate activities that sustain, promote and advance downtown revitalization f. Se active in the administration of downtown initiatives g. Se actively involved with the Main Street program activities and financially support the Main Street Program; the cost of which shall not be less than the difference between the tax increment payment and the cost of administration h. Develop short and long term strategies, define roles and assign responsibilities to implement those strategies 2 2008-09 CRAlDDB Interlocal Agreement Section 4. Responsibilities of the CRA. 1. Scope of Duties. The services that the CRA will provide are: a. Prepare correspondence for DDB members b. All DDB funds will be kept in the City's bank account and will be segregated for accounting purposes in the City's records as a separated, interest-earning fund c. Assist with preparation and monitoring of the annual budget and prepare amendments as necessary d. Prepare monthly financial reports e. Assure that the annual audit is conducted in compliance with State of Florida Auditor General f. Prepare agendas and distribute packets to DDB members prior to each meeting g. Prepare meeting notices for monthly and special DDB meetings h. Attend meetings and supervise work of Board Reporter who records and transcribes minutes i. Coordinate the annual election process in cooperation with the Pinellas County Supervisor of Elections J. Handle all phone inquires and follow up on the calls k. Handle any special mailing notices I. Comply with State of Florida Tax Increment Millage Compliance with Chapter 200, Florida Statutes, Sections 218.23, 218.63, Florida Statutes (TRIM) m. Serve as coordinator for the DDB special activities n. Administer the Retail and Restaurant Recruitment Grant, Fayade Improvement and the Sidewalk Cafe Furniture Grant . programs o. Assist in looking into other incentive options to improve downtown properties and implement projects funded or initiated by the Board p. Assist with promoting design related- programs to the downtown community q. Comply with the Florida Department of State Information Services Records Disposition Act r. Comply with the State of Florida Department of Community Affairs Special District Information Program s. Comply with the State of Florida Department of Insurance Treasurer's Public Depositor Annual Report t. Coordinate financial disclosure requirements of the State of Florida Commission on Ethics u. Act as a Liaison to the Pinellas County Property Appraiser, Pinellas County Tax Collector, and DDB legal council: Elise K. Winters, P.A. 3 2008-09 CRAlDDB lnterlocal Agreement v. Manage loans, contracts and all applicable documents w. Coordinate field trips and travel arrangements in accordance with the City of Clearwater Travel and Meals Policy x. Other administrative duties as mutually agreed Section 5. Compensation. In return for the above services, the CRA shall pay to the DDB this difference upon receiving the increment payment from the DDB. The budget for the CRA for services listed in Section 4 above shall be as follows: Personnel and Administration $57,480 Section 6. Contribution bv DDB. The DDB shall contribute $50,000 toward the cost of construction debt service, operation, and maintenance of the Proposed Facilities. Said payment shall be made upon request of and at the direction of the CRA. It is the intent of the parties that the DDB shall contribute up to $50,000 a year for 10 years for a total not to exceed $500,000, subject to annual approval of future agreements. DDB made the first payment of $50,000 in April 2007 and the second payment of $50,000 in April 2008. It is the belief of the parties that the Proposed Facilities will become self-supporting and the intent of the parties that the annual contribution will be made only to the extent that the income from the Proposed Facilities during the applicable year is insufficient to cover the cost of the Proposed Facilities during the applicable year. Section 7. Notice. Any notice by either party to the other pursuant to the Interlocal Agreement shall be given in writing and hand-delivered or mailed as follows: Chairperson, Board of Trustees Community Redevelopment Agency 112 S. Osceola Avenue Clearwater, Florida 33756 Chairperson Downtown Development Board Post Office Box 4748 Clearwater, Florida 33758-4748 Section 8. 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. Section 9. Filing Effective Date. As required by Section 163.01 (11), Florida Statutes, the Interlocal Agreement shall be filed with the Clerk of the Circuit Court of Pinellas County after execution by the parties, and shall take effect upon the date of filing. 4 2008-09 CRAlDDB Interlocal Agreement IN WITNESS WHEREOF, the parties hereto, or their lawful representative, have executed this agreement as the date first above written. COMMUNITY REDEVELOPMENT AGENCY BY: ..e-t- f - hairperson, Board of Trustees Frank Hibbard Approved as to form: Attest: tHL Pamela K. Akin City Attorney BY: ~ David Allbritton, Chairperson 5 2008-09 CRNDDB Interlocal Agreement