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02-16-1999 Agenda/eRA .2-16-99 AGENDA Community Redevelopment Agency Meeting Tuesday - February 16, 1999 1 . Call to Order 2. Approval of Minutes: 1/19/99 3. Approve payment of a parking incentive to the parking system for Wakely & Associates, Inc. upon demonstration of certain performance standards for total of $40,000 over 7 years 4. Provide direction re DDB's request to be relieved of all future obligations to reimburse the CRA for a portion of the cost of acquiring the property known as the Atrium of Clearwater and Park Street Garage 5. Assistant City Manager Verbal Reports 6. Other Business a) Appoint Commissioner Johnson as ex-officio to DDS 7. Adjourn Clearwater Community Redevelopment Agency Agenda Cover Memorandum \.\'erll303isA lte"T if: Fmftl Agenda Item # 3 ~ Meeting Date: SU BJECT/RECOMMENDA TlON: Approve the payment of a parking incentive to the Parking System for Wakely and Associates, Inc. upon demonstration of certain performance standards for a total amount of $40,000 over seven years. 1BI and that the appropriate officials be authorized to execute same. SUMMARY: Wakely and Associates, Inc., an actuarial and consulting firm currently located outside Clearwater, has expressed interest in relocating to Downtown Clearwater. The firm is negotiating to lease more than 20,000 square feet of office space. The relocation would add at least 125 employees and helps to fulfill our goal of attracting Industries of the Mind and jobs that support families. In an effort to attract the firm, staff recommends an incentive package with a value of $100,000 over the term of a 7 -year lease: At signing of a lease for more than 20,000 square feet in Downtown and the execution of an agreement with the City and CRA, $20,000 would be paid from the Brownfields Stabilization Fund to the firm to assist in equipping the new offices. The parking system would guarantee up to 50 spaces in the Garden Avenue Garage. The firm would receive up to $80,000 in free parking. Of that sum the CRA would pay the parking system $40,000 with the remaining $40,000 subsidized by the Parking System itself. If legal or bonding situations change for the system, the CRA would assume the remainder of the system's obligation. The parking incentive would be triggered when the firm reaches more than 96 employees in Downtown. As the timing of the parking arrangements become necessary, the appropriate budget amendments will be forthcoming. Reviewed b~\ I t\ legal ~ Budget .,.I..vJ Purchasing ~A - Risk Mgmt N/A Info Srvc N/A Public Works N/A DCWACM Other ~ Originating Dept: City Manager's User Dept. Submitted by: City Manager < -~. ..-~-- Print~ on recycled paPfl' o None M :rl?- b Costs $20,000 Total Funding Source: Current FY CI OP Other Appropriation Code: 181-99972 Rev. 2/98 AGREEMENT THIS AGREEMENT made and entered into this _ 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 " 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. WAKELY AND ASSOCIATES, INC. By: Its Countersigned: CITY OF CLEARWATER, FLORIDA By: Rita Garvey Mayor-Commissioner Michael J. Roberto City Manager Approved as to form: Attest: John Carassas Assistant City Attorney Cynthia E. Goudeau City Clerk COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF CLEARWATER, FLORIDA By: Rita Garvey Chairperson Approved as to form: Attest: PamelaK. Akin City Attorney Cynthia E. Goudeau City Clerk Clearwater Community Redevelopment Agency Agenda Cover Memorandum f\genda Item /I Meeting Date: Lj ~'IG,.<1cr SUBJECT /RECOMMENDA liON: Provide direction regarding the Downtown Development Board's (DDB's) request to be relieved of all future obligations to reimburse the CRA for a portion of the cost of acquiring the property known as the Atrium of Clearwater and Park Street Garage. I&J and that the appropriate officials be authorized to exccute same. SUMMARY: . On October 11, 1983 the DDB entered into an agreement to pay the CRA a portion of the costs for the acquisition of the Atrium property and Park Street Garage. . The DDB agreed to reimburse the eRA on an annual basis according to a formula in the agreement. . The DOB has paid a cumulative amount of $95,382.62 to the CRA leaving a balance of $125,075.38 at the end of Fiscal Year 97/98. . The DOB owes the CRA $7,352.16 for this current Fiscal Year which if paid will leave a balance of $117,723.22. . The ODB is requesting to be relieved of all future obligations to this agreement since the CRA sold the property as stated in the attached letter. . The money from the DDB is budgeted as a revenue source to the CRA. This will affect the programming dollars available to expend if the CRA does not receive this revenue. . Mid year budget amendments will reflect necessary amendments to eRA expenditures to offset this program decre(lse in revenUb. I Review..! by1JU Costs legal Info Srvc N/A Total Budget e/: Public Works N/A User Dept. Funding Source: rurchasing A DCtv\/ACM CRA Current FY CI Risk Mgrnt N/A Other ~ Attachments OP ODD Letter Other Submitted by: '/\::fa ~ City Manaxer I' l '\ CL Printed on r<<ycl~ paper o None Appropriation Code: Rev. 2/98 nr-rl""":r-.'" FE8 021999 .;1: 'f MANAGER DOWNTOWN DEVELOPMENT BOARD February 2. 1999 ~F:CEIVED Mr. Mike Roberto, City Manager City of Clearwater P.O. Box 4748 Clearwater, FL 33755 , 4cqt1 \.,,1 I , IVII"\IU~\':H:'li Dear Mr_ Roberto: I am writing this letter as chainnan of the Downtown Development Board. The DDS entered into a participation agreement with the Community Redevelopment Agency in 1983. The agreement was to reimburse the CRA $220,458.00 for the acquisition of the Atrium property and Park Street Garage. The.eRA sold the properties in 1998. The lawyers acknowledge that the DDB is obligated to continue these payments to the CRA even though the CRA no longer owns these properties. I would like to bring this matter forward to the CRA trustees to relieve us of this obligation. This year's payment to the CRA is $7,352.16 and leaves a balance of $117.732.22. The freeholders in the DDB are not happy paying for something that the city sold without public input. The DDB acknowledges their legal requirement, however would like to commit these funds to projects that directly benefit the Downtown. We would be happy to meet with you to reach a solution that does not have such unpleasant undertones. Sincerely, ~~. - Glenn Warren. DDS Chainnan P. O. Box 1225 0 Clearwater. FL 33757 0 (813) 461-0011 ext. 231 " PARTICIPATION AGREEMENT :t THIS AGREEMEi-lT entered into this II day of &-xw A. D. 1983, by the CLEARWATER REDEVELOPMENT AGENCY, an Agency created by virtue of Chapter 163, Florida Statutes, hereinafter called "the Agency", and CLEARWA:rER DOWNTOWN DEVELOPMENT BOARD, a Board created purluant to Chapter 70-635, Laws of Florida (1970), now Article IV of Chapter ZZ, of the Code of Ordinances, City of Clea- water, hereinaIter 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 acquisiU,?n and financing of publicly owned facUities deemed feasible and beneficial in eUecting implementation of public purposes: and 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 oUice-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 that 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 ior cer:ai.., COlts thereof: and WHEREAS, t.'1e A,ency, in reliance on the promise of the ?artici?a::..:g Agency eo pay a portion of thole costs, has appro\'ed the Developr:1ent Agreement and t.lte acquisition of the real ?ropert)' required by acopeion cf Resolutions :-:0. 83-Z (CRA) and ~o. 83-3 (eRA): a:1C WHEREAS, the parties now desire to recice such cc~~:.~e~t to \\':,i~~i: F ~ )=9\\'. THE? ~.:CF..::'. be::.,". =ar:~~s aFe~ as !ollo.....s: !.I \: 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 (CRAI. 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 which are in exceSl of $650, 000. Such reimburs ement shall be paid to the Agency on an annual basis according to the following formula An amount equal to the increment in revenuea of the Participating Agency derived from the above described project. which increment shall be determined annuall)' and shall be that amount equal to the difference between: (a) The amount of ad valorem taxea levied each year by the Participating Agency upon the property described in Exhibit 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 aasessment roll used in connection with the taxation of such property by the Participating Agency. 3. Should the Agency be unable to acquire the property or should it abandon the project, then the Participating Agencyl. obligation shall ceas~. 4. The above constitutes the entire agreement between the parties. 5. This Agreement shall be governed by the laws of Florida. -2- ~ ! \,\ IN WIT~ESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written. Attest: Z;;;~~~:MENTAG~CY -Mayor-Commissioner o . . J~~/,0~ City ~lerk ~-, ~ 7~tf'r-<<'~ 70rnml..IO.0. . . . d~&;.~ ,//. o.~~- Comrnis doneoj' CLEARWA TER DOWNTOWN DEVELOP NT B By Attest: [:;.4'4-#-' ~~'ph~ Secretary -3- . '. ., J- .1 !.~:H!E~7 ... ,. ,. p Tha~ cer~ain piece, parcel or tract of land, situate, lyinq and being in th~ Councy of Pinellas, State of Florida, more parcicularly bounded and describe: as followt: 1he former riqht-of-wa~ of the ~tlantic Coast Line "ailroad lyin~ bec.....een Blod: 13 and Bloek 20 of GOULO , Eto;'ING' S StCO!:O AOOITIO:; TO CL!';i'l;";',!:::;:', FLO:\IO:', according to the pla~ thereof recordec H Plat &ook 1, Page 52, Public ~ecords of Hillsborouqh County, Florida, of which Pinella. cpunt~ wa. formerly a par~. That certain piece, parcel or tract of land, situate, lyinq and being in the County of Pinellas, State of Florida, more particularly bounded an~ d.scribed as follows: All that volume of Air sp.ce consisting of that portion of Lots I, 2, J, 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 Hillsborouqh County, of .....hich Pinella.county was formerly a part, together with the former right-of-way of the Atlantic Coast Line Railroad adjoining s.id Block ~n 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 in9re~s and eqress. 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 foUo"'.: Lota 1, 2, 3, Ilnd 4,1n BlooJc 13, of GOULD' EWING'S StCOt.'D ADDITION TO ~~ftATER, FLORIO~, according to the plat tilereof recorded in Plat Book 1, page 52, Public ~eeord. of Hillsborough County, Flo~ida, of which Pinella. County was former~y'a par~~ together with tha: portiOD of said Block 13 whicb "'as forcerly an alley runnin9 eas: and "'est throuqh sai~ BlOCk 13.