FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND PURCHASE AND SALE OF PROPERTY (2)FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT
AND PURCHASE AND SALE OF PROPERTY
THIS FIRST AMENDMENT TO AGREEMENT FOR DEVELOPMENT AND
PURCHASE AND SALE OF PROPERTY (this "Amendment") is made and entered into as of
this ia44-day of October 2020, by and between the CITY OF CLEARWATER, a municipal
corporation ("the City"); COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF
CLEARWATER, FLORIDA, a public body corporate and politic of the State of Florida created
pursuant to Part III, Chapter 163, Florida Statutes ("Agency"); and BLUE PIERCE, LLC, a Florida
limited liability company ("Developer").
WITNESSETH:
WHEREAS, Agency and Blue Sky Communities, LLC entered into that certain
Agreement for Development and Purchase and Sale of Property dated effective October 30, 2019
(the "Contract"); and
WHEREAS, Blue Sky Communities, LLC assigned the Contract to Developer; and
WHEREAS, Agency and Developer desire to enter into this Amendment to allow
Developer to apply for tax credits in the upcoming FHFC RFA 2020-202.
NOW THEREFORE, for and in consideration of the mutual covenants and agreements
of the parties, and other good and valuable considerations, the receipt and sufficiency of which is
hereby acknowledged and agreed by each of the parties, Agency and Developer do hereby
covenant and agree as follows:
1. Agency and Developer do hereby mutually represent and warrant that the foregoing
recitals are true and correct, and said recitals are hereby ratified, confirmed, and incorporated into
the body of this Amendment.
2. Any capitalized terms utilized in this Amendment and which are not separately
defined herein shall have the meaning ascribed thereto in the Contract.
3. Section 15.18 is hereby amended as follows:
Local Government Support. The Agency recognizes that Request for Applications 2020-202
issued by the Florida Housing Finance Corporation (the "RFA") requires the Developer to show
"local government support." This support will come in the form of a $610,000.00 loan to the
Developer from the City in a manner that shall qualify for the Local Government Area of
Opportunity Funding under the RFA including without limitation the timely approval of the Loan
and the execution and delivery of the requisite Local Government Verification of Contribution -
Loan form under the RFA. The Agency agrees to contribute half of that loan amount to the City
upon terms and conditions to be negotiated between the City and the Agency.
4. Except as amended and modified hereby, all of the terms and conditions of the
Contract are and shall remain in full force and effect. The Contract, as modified by this
Amendment, is affirmed and ratified in all respects.
5. This Amendment may be executed in multiple counterparts, each of which shall be
deemed an original but all of which, together, shall constitute one instrument. For the purposes of
this Amendment, an executed facsimile or electronically delivered counterpart copy of this
Amendment shall be deemed an original for all purposes.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and
year first set forth above:
Approved as to form:
11A
telvt,i
Michael P. Fuino
Attorney for
Community Redevelopment Agency
A roved a to form:
Pamela Akin
City Attorney
AGENCY
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF CLEARWATER, FLORIDA
By:
mor
Attest:
Frank V. Hibbard
Chairperson
TV( :Rosem:ri- Call
City Clerk
CITY
THE CITY OF CLEARWATER, a municipal
corporation
By:
Attest:
Frank V. Hibbard
Mayor
IVY: Rosemarie Call
City Clerk
DEVELOPER:
Blue Pierce, LLC, a Florida limited
liability company
By: Blue Pierce M, LLC, its manager
By:
i Lam,
Shawn Wilson, anager