06-11
RESOLUTION NO. 06-11
A RESOLUTION OF THE CITY OF CLEARWATER,
FLORIDA, APPROVING AN AMENDMENT TO THE
DEVELOPMENT AGREEMENT BETWEEN THE CITY OF
CLEARWATER AND K & P CLEARWATER ESTATE, LLC;
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Clearwater is desirous of amending the Development
Agreement with K & P Clearwater Estate, LLC that was adopted by the City Council on
February 17, 2005, by Resolution No. 05-13; now, therefore,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF CLEARWATER, FLORIDA:
Section 1. The Amendment to the Development Agreement between the City
of Clearwater and K & P Clearwater Estate, LLC. a copy of which is attached as Exhibit
"A" is hereby approved.
Section 2. The City Clerk is directed to record the Amendment to the
Development Agreement with the Clerk of the Circuit Court in Pinellas County no later
than fourteen (14) days after the agreement is executed. The applicant for the
Development Agreement shall bear the expense of recording the amendment.
Section 3. The City Clerk is directed to submit a recorded copy of the
Amendment to the Development Agreement to the State of Florida Department of
Community Affairs no later than fourteen (14) days after the Amendment to the
Development Agreement is recorded.
Section 4. This resolution shall take effect immediately upon adoption.
PASSED AND ADOPTED this 16th day of March
,2006
4~~~~
~k V. Hibbard
Mayor
Approved as to form:
filL
Pamela K. Akin
City Attorney
Attest:
Resolution No. 06-11
PREPARED BY AND WHEN RECORDED RETURN TO:
FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT
OF PROPERTY IN THE CITY OF CLEAR WATER
BETWEEN
THE CITY OF CLEARWATER, FLORIDA
AND
K & P CLEARWATER ESTATE, LLC
DATED AS
, 2006
Exhibit "A"
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
THIS FIRST AMENDMENT THE DEVELOPMENT AGREEMENT (the
"Amendment") is made as of this _ day of , 2006 (the "Effective Date"), by and
between THE CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation (the
"City") and K & P CLEARWATER ESTATE, L.L.C., a Florida limited liability company (the
"Developer") .
WITNESSETH
WHEREAS, the City and the Developer are parties to that certain Development
Agreement as recorded in O.R. Book 14168, Pages 2397-2528, Public Records of Pinellas
County, Florida (the "Development Agreement"); and
WHEREAS, the City and the Developer desire to amend certain terms and provisions of
the Development Agreement, as more fully set forth herein below.
NOW, THEREFORE the City and the Developer agree as follows:
I. Section 5.03 paragraph 8. is hereby amended to read as follows:
8. Approval of Plans and Specifications for the South Gulfview and
Beach Walk Improvements. The City shall prepare plans and specifications and budgets for
the South Gulfview and Beach Walk Improvements. The City shall make available drafts of
such plans, specifications and budgets to the Developer for review and comment. The City shall
consider the Developer's comments and recommended changes in the plans, specifications and
budgets to the extent that the matter on which the Developer is commenting materially impacts
the Developer or the Project. The City and the Developer agree that the design of those South
Gulfview and Beach Walk Improvements adjacent to the Project Site shall be coordinated with
the design of the Project as provided in this Agreement below, and, for that purpose, the City
shall make available to the Developer copies of the, plans, specifications, and related
construction and landscaping contracts, drawings and schedules finally approved by the City.
Additionally, the City agrees to include the construction of Relocated First Street as an alternate
when soliciting bids for the construction of the Beach Walk and South Gulfview Improvements.
2. Section 5.03 paragraph 9. is hereby amended to read as follows:
9. Timelv Completion. The City and the Developer recognize the importance of
the timely completion of the proposed Project and of the completion of South Gulfview and
Beach Walk Improvements, and time is deemed to be of the essence. The City considers this
Agreement as overall authority for the Developer to proceed to obtain all required permits, and
agrees to implement a fast-track review, permitting, and inspection program for the Project. The
City agrees to use reasonable efforts to complete the required public improvements including the
widening of Coronado, and the realignment of South Gulfview and the construction of Beach
Walk Improvements along the boundaries of the Project Site, prior to the issuance of the
certificate of occupancy for the Project, contingent upon payment by Developer of Developer's
Pro Rata Share (defined herein) to the City prior to the City awarding the construction contract
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
2
3. Section 5.05 paragraph 3 is hereby amended to read as follows:
5.05. Obligations of the Developer.
3. Relocated First Street. The Developer shall convey to the City of Clearwater by
General Warranty Deed, with title therein insured for not less than $500,000 by a nationally
recognized underwriter of Title Insurance authorized to conduct business in the State of Florida,
the real property for Relocated First Street as described in Exhibit N to the Development
Agreement on or before March 30, 2006. In the event that Developer has not removed all
improvements from the property to be conveyed before March 30, 2006, the City shall complete
the demolition and the Developer shall reimburse the City for all costs incurred. Such
reimbursement shall be made within 30 days of demand by the City. Additionally, the
Developer shall either complete construction, at Developer's cost, of all the necessary
improvements for the Relocated First Street, including pavement, sidewalks and streetscaping on
or before June 1,2009; or, notify the City by no later than January 2,2009 that Developer elects
to have the City construct Relocated First Street at Developer's expense. Further, in order to
maintain traffic after the completion of Phase II of Beach Walk, Developer shall construct at its
expense, a temporary roadway of no less than two twelve-foot lanes and one ten-foot sidewalk
within the right of way of the Relocated First Street by no later than the completion of Phase II
of Beach Walk by the City. Concurrent with the conveyance of the property to the City, the
Developer shall establish a letter of credit, trust account or escrow facility, which shall be subject
to the approval and acceptance of the City, in the amount of Two Hundred Forty-one Thousand
Five Hundred Dollars ($241,500) for the payment of the estimated cost of construction of
permanent Relocated First Street and Ninety Six Thousand Dollars ($96,000) for the payment of
the estimated cost of construction of the temporary Relocated First Street. In the event the
Developer elects to have the City construct the Relocated First Street as provided herein, and the
cost of construction exceeds Two Hundred Forty-One Thousand Five Hundred Dollars
($241,500), Developer shall be responsible for all such costs and shall make payment to the City
upon demand. A representative cross section reflecting such improvements is attached hereto as
Exhibit N
First Amendment to K & P Clearwater Estate LLC Development Agreement 2D.8/06
3
IN WITNESS WHEREOF, the parties hereto have set their hands and their respective
seals affixed as of the date set forth in the first paragraph of this Amendment.
THE CITY OF CLEARWATER, FLORIDA
Countersigned:
By:
Frank V. Hibbard, Mayor
By:
William B. Home II, City Manager
Approved as to form:
ATTEST:
By:
Pamela K. Akin, City Attorney
By:
Cynthia E. Goudeau, City Clerk
STATE OF FLORIDA
)
)
)
J
COUNTY OF PINELLAS
The foregoing instrument was acknowledged before me this day
of , 2006 by William B. Home, II, the City Manager for the City of
Clearwater, Florida, on behalf of the City.
Notary Public - Signature
Print Name:
My Commission Expires:
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
4
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this day
of , 2006 by Frank V. Hibbard, the Mayor for the City of Clearwater,
Florida, on behalf of the City.
Notary Public - Signature
Print Name:
My Commission Expires:
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this day
of , 2006 by Cynthia E. Goudeau, the City Clerk for the City of
Clearwater, Florida, on behalf of the City.
Notary Public - Signature
Print Name:
My Commission Expires:
OWNER:
K & P CLEARWATER ESTATES, LLC
Witness:
By:
Dr. Kiran C. Patel as Managing
Member ofK & P Holdings, L.C.,
General Partner of K & P
PARTNERS LIMITED
PARTNERSHIP, A FLORIDA
LIMITED PARTNERSHIP,
Managing Member ofK & P
Clearwater Estate, LLC
Printed Name:
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
5
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
The foregoing instrument was acknowledged before me this day
of , 2006 by , as of
K & P Holdings, L.C., General Partner ofK & P Partners Limited Partnership, a Florida Limited
Partnership, Managing Member ofK & P Clearwater Estate, LLC.
Notary Public - Signature
Print Name:
My Commission Expires:
First Amendment to K & P Clearwater Estate LLC Development Agreement 2/28/06
6
i'
60' RIGHT-OF-WAY
36' - 2ND STREET
2.00% 2.00%
L
.' '. '"...",.", '. " . '. '. ". . " " " . " " " . " " " . " " " . " . : . . . ,0 . . . : . . . ,'. ". .:. .
2' CURB & GUTTER 2' CURB &; GUTTER
PER FOOT INDEX 1300 PER FOOT INDEX 1300
10' CONC. SIDEWALK
TYPICAL CROSS SECTION
Not To Scale
EXHIBIT N