12-05-1991
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12-5-91
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AGENDA
Community Redevelopment Agency
December 5, 1991
immediately following City Commission Meeting
I. Call to order
II. Agreement between the City and
the eRA regarding the purchase
of the "Maas Brothers
Property"
III. Adjournment
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AGREEMENT
THIS AGREEMENT is entered into by and between the CITY OF CLEARWATER,
FLORIDA, a Florida municipal corporation (herein, the IICITYII), and the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, a Florida redevelopment agency
(herein, the IICRA"), as of the day of December, 1991.
IN CONSIDERATION of the sum of $1.00 and other good and valuable
consideration, including but not limited to the agreement by the CITY to loan
funds to the eRA for the purchase of the IIMaas Brothers Property," and the
assignment by the CITY to the CRA of the Contract for Sale and Purchase of said
property dated September 5, 1991, the parties hereby agree as follows:
1. During the term of this Agreement, the CITY shall review the
ownership and use of the Property, and related issues including, but not limited
to, financing and the boundaries of the Property, and shall make such decisions
as the CITY finds to be in the best interests of the public. Such decisions may
be in the form of concepts or policies; if any special condition such as
referendum approval is required, such special condition need not be satisfied
during the term of this Agreement.
2. During the term of this Agreement, the CITY shall have the right of
first refusal as to the Property and any portion thereof, and all rights thereto,
and the CRA shall not sell, lease, or otherwise encumber the Property or any
portion thereof or rights thereto without the prior consent of the CITY, which
may be withheld for any reason or no reason at the CITY'S sole discretion.
3. The CRA shall pay interest on funds loaned by the CITY at the CITY'S
cash pool rate in effect from time to time until paid.
4. The initial term of this Agreement shall commence upon the date
hereof and sha 11 expire on June 30, 1992. The term may be c....~~nded by the CITY
for an additional three months or until September 30, 1992. Thereafter, the term
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may be extended by agreement between the parties. As used herein, "term of this
Agreement" includes the initial term and any extensions thereof.
WITNESS our hands and seals at the date first above written.
Countersigned:
CITY OF CLEARWATER, FLORIDA
Rita Garvey
Mayor-Commissioner
Approved as to form and correctness:
By:
IMTChael J. Wright
City Manager
Attest:
M. A. Ga fbra i fh, Jr".
City Attorney
cynthia E. Goudeau
City Clerk
Attest:
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF CLEARWATER
Rita Garvey
Chairman
Cynthia E. Goudeau
Secretary
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