Loading...
01-23-08 Agenda SpecCITY COMMISSION CITY OF DELRAY BEACH, FLORIDA SPECIAL MEETING -WEDNESDAY, JANUARY 23, 2008 6:30 P.M. DELRAY BEACH CITY HALL The City will furnish appropriate auxiliary aids and services where necessary to afford an individual with a disability an equal opportunity to participate in and enjoy the benefits of a service, program, or activity conducted by the City. Contact Doug Smith at 243- 7010, 24 hours prior to the program or activity in order for the City to reasonably accommodate your request. Adaptive listening devices are available for meetings in the Commission Chambers. SPECIAL MEETING AGENDA Pursuant to Section 3.12 of the Charter of the City of Delray Beach, Mayor Rita Ellis has instructed me to announce a Special Meeting of the City Commission to be held for the following purposes: 1. COMMUNITY WORKFORCE HOUSING INNOVATION PROGRAM (CWHIP) AGREEMENT FOR VILLAGES AT DELRAY: Consider approval ofthe Community Workforce Housing Innovation Program (CWHIP) Agreement for Villages at Delray. Please be advised that if a person decides to appeal any decision made by the City Commission with respect to any matter considered at this meeting, such person will need to ensure that a verbatim record includes the testimony and evidence upon which the appeal is based. The City neither provides nor prepares such record. 0 MEMORANDUM TO: Mayor and City Commissioners FROM: R. BRIAN SHUTT, ASSISTANT CITY ATTORNEY THROUGH: CITY ATTORNEY DATE: January 23, 2008 SUBJECT: AGENDA ITEM SP.1 -SPECIAL MEETING OF JANUARY 23, 2008 COMMUNITY WORKFORCE HOUSING INNOVATION PROGRAM (CWHIP~ AGREEMENT FOR VILLAGES AT DELRAY ITEM BEFORE COMMISSION Approval of the CWHIP Agreement between the City, Delray Beach Housing Authority, Palm Beach County School District, Delray Beach Chamber of Commerce and Auburn Development for the Villages at Delray Project. BACKGROUND The Agreement provides that the developer shall commit at least 50% of the residential units to workforce housing as defined by the City. The City agrees to expedite any comprehensive plan amendments, rezonings, site plan approvals, and permitting. The developer has also requested that the City forgive LS million of existing debt secured by the property. I have provided a sheet that has 4 alternatives regarding the forgiveness of the LS million dollars. Alternative 1 only modifies the existing language to provide that any loan forgiveness or restructuring/refinancing will be conditioned upon approval from HUD. Alternative 2 provides the same as Alternative 1, except, the forgiveness of the LS million shall not take place until the balance of the loan has been repaid, excluding the LS million, and the workforce units have been completed. Alternative 3 simply provides that any loan restructuring must be conditioned upon approval from HUD and does not allow any loan forgiveness. Alternative 4 removes Section 2(g) from the agreement and does not allow for any loan restructuring/refinancing or loan forgiveness. RECOMMENDATION Staff would be in support of the Agreement if Alternative 3 or 4 were chosen. ALTERNATIVES TO SECTION 2(g) Alternative No. 1 (g) The City has agreed to forgive $1,500,000 of the existing debt secured by the land to be utilized for the 264 unit rental development, conditioned upon the Developer renting such apartments to qualified workforce households for at least 30 years, upon Developer selling all 52 townhomes to qualified workforce households, and otherwise complying with the City's Workforce Housing Ordinance provided, however, the forgiveness of $1,500,000.00 of the existing UDAG debt and restructurin~/refinancin~ of the debt is continent upon the Secretary of HUD or his/her designee, as determined and approved by the City, providing a written opinion that the forgiveness of the 1.5 million and the restructurin~/refinancin~ is acceptable under the rg ant agreements. Alternative No. 2 (g) The City has agreed to forgive $1,500,000 of the existing debt secured by the land to be utilized for the 264 unit rental development, conditioned upon the Developer renting such apartments to qualified workforce households for at least 30 years, upon Developer selling all 52 townhomes to qualified workforce households, and otherwise complying with the City's Workforce Housing Ordinance provided, however, the forgiveness of $1,500,000.00 of the existing UDAG debt and restructurin~/refinancin~ of the debt is contin eg nt upon the Secretary of HUD or his/her designee, as determined and approved by the City, providing a written opinion that the forgiveness of the 1.5 million and the restructurin~/refinancin~ is acceptable under the grant agreements. Also, if such forgiveness were to occur it would not occur until the balance of the UDAG loan, (excluding the $1.5 million), has been repaid to the City and the low income rental apartments and townhomes, as provided above, have been completed and rented or sold. Alternative No. 3 (g) The City has agreed to restructure/refinance the UDAG debt, provided however the restructurin~/refinancin~ of the debt is contin eg nt upon the Secretary of HUD or his/her designee, as determined and approved by the City, providing a written opinion that the restructuring/refinancing is acceptable under the rg ant agreements. Alternative No. 4 Eliminate Section 2(g). Auburn Group January 15, 2008 Mayor Rita Ellis Commissioner Gary P. Eliopoulos Commissioner Fred Fetzer Commissioner Woodie McDuffie Commissioner Brenda B. Montague City of Delray Beach 100 NW 1st Avenue Delray Beach, FL, 33444 Ladies and Gentlemen: This letter is a formal request for a vote by the City Commission with respect to the request for a portion of the financial assistance needed to make possible the workforce affordable rental community to be named Village at Delray. This request was originally made in a letter dated April 21, 2007 to City Manager David Harden and Director of Community Improvement, Lula Butler, and again in a presentation made to the City Commission at a workshop on August 14th, 2007. Specifically we asked for a restructuring of the existing loans secured by the 31 acre Auburn Trace apartment community totaling approximately X4,600,000, effective when we receive our approvals and our financing to build this 264 unit rental development. Village at Delray is planned for 11 +/- of the 31 acres that is presently known as Auburn Trace. This closing is estimated to take place sometime later this summer if all goes well. In our presentation we showed you a 3-D video of what we are planning for the re-development of over 60 acres of the city's now blighted Southwest Neighborhood. The Villages will become a mixed income and mixed use development through apublic-private partnership of the Auburn Group and the Delray Beach Housing Authority. In this 1,200 to 1,300 home community we will have close to 1,000 townhouses and condominiums priced for the city's essential services personnel -policemen, teachers, nurses, firemen and office workers, with favorable financing and substantial down payment assistance available. An essential component of this master plan is a mixed income rental apartment community containing 212 low income apartments and 52 market rate apartments for working families who are not yet in a position to purchase a home. In this full scale transformation of this fragmented neighborhood into a cohesive model workforce housing community; the 212 low income rental component is what requires substantial government assistance, so as to make this entire re-development financially feasible. Palm Beach County has allocated 1.2 million dollars towards the streetscape for "Village Avenue", and another one million dollars towards construction costs of the workforce ownership townhouses in "Village Square", on what was formerly the Carver Estates land owned by the Delray Beach Housing Authority County Commission Chair Addie Green has allocated X1,000,000 of her 1301 S. W. 10~ Avenue, Building. J, Delray Beach, Florida 33444 Telephone: (561) 278-0053 FAX: (561) 276-7002, Email: tom@auburngroup.net Auburn Group discretionary funds towards the cost of streetscape for Village Avenue. The Delray Beach Community Re-development Agency has budgeted X1,500,000 towards the cost of the streetscape for Village Avenue, and was considering budgeting substantially more for streetscape in future years until the County and Addie Green filled most of the gap. The CRA has also budgeted X500,000 towards down payment assistance for workforce buyers. The Palm Beach CountS~ School Board has also approved X500,000 towards down payment assistance for school teachers to help them purchase homes in Village Square. What we haven't been able to secure, however, is the financial assistance for the low income rental component, and that is what requires the most financial assistance. Unfortunately the available Palm Beach CountS~ funding was restricted to streetscape or down payment assistance. When we asked for assistance for the low income rental development they asked us what the City of Delray Beach was contributing. I know that the CitS~ is reluctant to contribute funding at this time because of the property tax cuts mandated by Tallahassee, and the possible additional cuts if the voters approve the January 29th referendum. That is why we requested assistance that will not require any out of pocket expenditure by Delray Beach, and our proposed restructuring of the existing loans will in fact mean significant additional cash received by the city over the next 8 or 9 years. It will give us the ability to point to this City assistance, however, when we apply to the State for CWHIP funding on January 29th, and when we go back to the County for assistance for the rental development as well as additional down payment assistance for workforce buyers. Currently Delray Beach has two loans receivable from Auburn Trace, a 0% loan in the amount of X297,696 that is reduced by X21,264 per year until fully repaid in 2022, and a X4,260,341 UDAG loan of funds received from HUD 17 years ago, at 3% simple interest We are paying X149,243.50 per year on this loan that is being amortized over 50 years, with a balloon payment in 2022. WE have been proposing the following: 1) Payment in full at closing this summer of the X297,696 city 0% loan instead of the X21,264 per year through 2022; 2) Continued payment of the current X149,243.50 per year on the UDAG loan after we restructure the loan 3) At such time as we commence selling workforce townhouses and condominiums on the balance of the Auburn Trace land, we would commence paying X10,000 to the city at each home's closing until all but X1,500,000 of the loan was paid in full; 4) At that time the remaining X1,500,000 would be forgiven by the city if we had in fact rented the 212 low income rental apartments to qualified low income residents, and had fulfilled the requirements of the city's Workforce Housing Ordinance with respect to the Villages to that point in time. The city's Finance Department has calculated the actual cost of this restructuring to the city; taking into account the fact that the city would be receiving most of their loans receivable much sooner, and 1301 S. W. 10~ Avenue, Building. J, Delray Beach, Florida 33444 Telephone: (561) 278-0053 FAX: (561) 276-7002, Email: tom@auburngroup.net Auburn Group has determined that the actual cost is far less than X1,500,000. The City's Finance Director had a concern that, although cash would in fact be received much sooner, there would have to be a paper loss for purposes of the city's budget if the original restructuring proposal was utilized. I had asked that the X1,500,000 be forgiven at closing this summer, but I have now revised the proposal so that the forgiveness is conditional, and doesn't take place until the balance of the loans have been repaid and we have in fact lived up to our promises to provide the low income rental apartments and the workforce housing ownership townhouses and condominiums. It is your staff's responsibility to protect the city; so we have been asked by staff, "What's in it for the city?" Our response to staff and to you is as follows: 1) This restructuring is necessary to realize the goal of re-developing the Southwest Neighborhood in accordance with the city's plan adopted several years ago for this area. We believe this all encompassing re-development of the city's historic minority neighborhood will result in a third award of All American City to Delray Beach. The Secretary of the Florida Department of Community Affairs, Tom Pelham, has spent a half day with us going over our proposed re- development, and he was quoted in the attached news article saying that this would be the model workforce housing community for the State of Florida. 2) The city will receive cash sooner to help it fill the gap caused by the Tallahassee property tax mandates. 3) Although it involves no out of pocket expenditure of funds by the city at this time, it will go a long way in enabling us to obtain funding from the state, e.g. CWHIP leveraging requirements, the Palm Beach County Housing Finance Authority; and Palm Beach County. 4) This restructuring is a big part of what is necessary to provide 1,200 to 1,300 new homes in the city; resulting in substantial additional revenue for the city's Community Redevelopment Agency from this approximately X200 million dollar re-development, which will dwarf the amount of the forgiveness requested. Currently the CRA is receiving no tax revenue from the Delray Beach Housing Authority for its Carver Estates property; and some tax revenue from Auburn Trace and SW 12`h Avenue, but far less than will be generated by this re-development. 5) More than 40% of these new homes will qualify as workforce homes, with lower prices, lower interest rates and substantial down payment assistance, to enable our teachers, policemen, nurses, firemen and office personnel to purchase their own homes. Without a doubt, building the low income rental component of this exemplary re-development will require government help. Please provide some of that help through the requested forgiveness? Respectfully, Thomas G. Hinners 1301 S. W. 10~ Avenue, Building. J, Delray Beach, Florida 33444 Telephone: (561) 278-0053 FAX: (561) 276-7002, Email: tom@auburngroup.net Florida Workforce Housing Network: an independent netroots project to support sustaina... Page 1 of 2 FL9RIDA STATE CABINET MEMBER THC?MAS G. PELHAM TOURS SITE OF "THE VILLAGES AT DELRAY" hy: noahldavis Mon May 21, 20x77 at 1~F:37:03 PM EDT (Noah L. Davis is an account executive a[ Reeves Laverdure Public Relations in Boca Raton. -promoted by sieve Webster) Governor Grist's newly-appointed Secretary of the Department of Community Affairs views site of the largest world®rceJa##ordable housing development in Florida DELRAY BEACH, pia. --- Florida's 5®crstary ®f the Departrvzeezt q# ~~rnrttunity A##airsr Tharr-as C~. Pelham (left, in file photo), recently toured the site of The Villages at Delray (on what was Carver Estates and the neighboring Auburn Trace), which will be the state's largest workforce/affordable housing development. Secretary Peiham's visit confirms his long-standing commitment to workforce and affordable housing developments, Following the tour, Secretary Pelham stated; "I am very impressed by the scope and design of The V'llages at Delray. It will have a very positive impact on the community, The Auburn Group and the City are to be commended for their commitment to community revitalization and khe provision of workforce/affordable housing." Secretary Pelham visited Delray Beach at the invitation of th€ auburn ~rauP {Www,azzbzarrzgraup,rzet}, to review the site and gain a better understanding of the project's scope, The Auburn Group recently signed the master development agreement to revitalize the area. Secretary Pelham also met with local officials representing the city of Delray Beach, the Community Redevelopment Agency (CRA), and Palm Beach County, which have supported this innovative redevelopment of Delray Beach's Southwest neighborhood, Secretary Pelham was recently appointed by Governor Charlie Crist to the position as head of the Department of Community Affairs, whose mission includes assisting Florida communities in meeting the challenges of growth and investing in community revitalization. Secretary Pelharn is the ranking member in the Governor's cabinet on planning and zoning for the entire state of Florida and a hoard member of the Florida Housing Finance Corporation. The Villages at Delray comprises more than 1,000 new residences on 54 acres, including the 15 acres of what was formerly Carver Estates, which was condemned after Hurricane Wilma and is slated to be demolished in May. More than 40% of the new residences will be set aside for workforce/affordable housing, as part of the mixed-use, mixed-"sncome development. "Our objective is to give essential personnel, such as policemen, firemen, teachers and nurses, who have been priced out of the local real estate market, the opportunity to purchase a quality home and live within a reasonable distance to their place of employ," said Brian I•Iir~n~~~, P~e~atfezat ta# Aabazarz GruuP, "We are grateful to Secretary Pelham for taking the time to show his support of and commitment to affordable housing in South Florida," concluded Hinners. The Villages at De{ray will be built to comply w"sth the city's Workforce Housing Ordinance, which provides density bonuses for the developers of workforce housing. More than 40% of the homes will be workforce homes, priced sa as to be affordable for moderate income households. In addition, Delray Beach and the state of Florida provide down payment assistance to moderate income home purchasers, and favorable mortgage loan programs are available, The balance of the homes will be sold at market prices. Half of the workforce units will be rental apartments for those who are not yet ready to purchase a home. "It's great that Secretary Pelham took the time to come and visit us," said Diane Colonna, Fxecut'sve Director of the Delray Beach Community Redevelopment Agency. "It's important for government officials at his level to see what we're doing and to get the pulse of Community revitalization on the local level and see how city government can wank with the private sector." Hinners added, "The principal objective of the program 'ss to enable the area's workforce that has largely been priced out of the market to purchase homes and participate in the American Dream. Policemen, firemen, teachers, nurses, the essential personnel we all need for our community, can no longer afford to purchase a home here. If they are to work here they often have to live elsewhere and travel long distances, "It has made hiring employees very difficult for our local government and local businesses in general. Palm Beach County commissioned a study last year Yhat concluded that 90% of the county's households could not afford ko buy the county's median priced home, and the prices in Delray Beach and Boca Raton are much higher than Palm Beach County as a whole." The Auburn Group has enlisted the assistance of numerous local non-profit and government service providers so that the end result will be a model community providing not just attainable housing but also a ful{ range of programs and resources. The Milagro Center will operate its out-of-school children's programs from a dedicated 4,500 square foot air conditioned section of one of The Village's clubhouses, with a school bus stop situated at the entrance. The Auburn Group has announced plans to establish the I Have a Dream Faundakion to provide tutoring after school at its clubhouse and guarantee college scholarships to children who fully participate in the program. In the middle of The Villages is the Youthland Academy offering quality child care for pre- school children. Directly across the street are two other excellent after school programs, one at the new Boys and Girls Club, and the other at the http://www.floridaworkforcellousing.net/showDiary.do?diaryId=612&view=print 10/24/2007 Florida Workforce Housing Netr~vork: an independent netroots project to support sustaina... Page 2 of 2 Beacon Center, Also directly across the street are Village Academy's innovative elementary school, middle school and their new high school that wilt open this fall, as well as a Future head start center. Next to the Boys and Girls Club is Delray Beach's newest city park, Catherine Strong Park, offering tennis courts, basketball courts, a water park, a picnic area and walking trails. The Auburn Group has adopted this park, and has committed to maintain it, Nearby there Is the Full Service Center offering adult education, and the new city sponsored Neighborhood Resource Center, Operating out of the Neighborhood Resource Center are many service organizations, including United Way and the city's Community Land Trust. The Villages' three clubhouses will each have large generakors and kitchens designed to provide warm meals in air conditioned dining areas after hurricanes, until power is restored. They will also have trolley stops for future trolley service ka the city's popular downtown area and the Tri-rail station on Congress Avenue, A portion of the development, "Village Center," will offer neighborhood serving businesses for the community such as a grocery store, beauty salon/barber shop, dry cleaner, restaurant and medical/dental offices. According to ~~i~ WeiF~er, duburr~ P~~aup'S lsxeeutive Viee ~resicie~t, "This community is very environmentally friendly, not only with respect to reducing the traffic impact on our roads through having many services a resident will need close at hand, pius trolley service to the Tri-Ralf and Delray's downtown, but also through many green building practices such as preserving the existing trees on the 54 acres through an expensive transplanting process. We will have natural lighting, Energy Star appliances and concrete tunnei farm insulated construction of all walls and ceilings, and utilize recycled water far irrigation." Close W indnw http://w~vtiv.floridaworkforcehousing.net/showDiary.do?diaryId=612&vie~print 10/24/2007 HOUSING ASSISTANCE AND DEVELOPMENT AGREEMENT THIS HOUSING ASSISTANCE AND DEVELOPMENT AGREEMENT ("Agreement") is made and entered into this day of January, 2007 by the DELRAY BEACH HOUSING AUTHORITY ("DBHA") and Auburn Development, LLC ("Developer"), CITY OF DELRAY BEACH ("City"), PALM BEACH COUNTY SCHOOL DISTRICT, and the DELRAY BEACH CHAMBER OF COMMERCE ("the Chamber"). WITNESETH: WHEREAS, Developer owns approximately 14 acres in Delray Beach, Florida ("Property") known as Villages at Delray, and desires to develop thereon a residential community consisting of approximately 264 rental apartments and 52 workforce townhomes and associated amenities ("Project"); and WHEREAS, the parties hereto desire to enable Developer to develop a portion of the Property for the purpose of providing workforce housing to essential personnel as defined by the City of Delray Beach; and WHEREAS, the provision of workforce housing to essential personnel, as defined by the City of Delray Beach, falls within the purposes of the 2007 Florida Legislature passed House Bill 1375 (Section 420.5095, F.S.), a housing bill which focuses on addressing some of the affordable housing challenges the State currently faces. HB 1375 (Section 420.5095, F.S.) includes $62.4 million for an affordable housing pilot program called the Representative Mike Davis Community Housing Workforce Innovation Pilot Program ("CWHIP"), to provide attainable housing by using regulatory incentives and state and local funds to promote local public-private partnerships which maximize government and private resources; and WHEREAS, the parties hereto intend to create such apublic-private partnership (the "Project Partnership") for the purpose of helping to address the high cost of living and housing in the City of Delray Beach and the undue burden on homeownership and rental opportunities for essential service personnel. 'WHEREAS, the Villages at Delray will be developed through an Innovative Public Private Partnership that brings to bear contributions from the private and public sectors to create a smart growth mixed income community serving the continuum of community housing needs, with particular emphasis on serving the needs of essential workforce personnel employed by the public and private sectors. WHEREAS, the Public Private Partnership includes the DELRAY BEACH HOUSING AUTHORITY ("DBHA") and Auburn Development, LLC ("Developer"), CITY OF DELRAY BEACH ("City"), PALM BEACH COUNTY SCHOOL DISTRICT, and the DELRAY BEACH CHAMBER OF COMMERCE ("the Chamber"). This Agreement outlines the principal objectives and role of each partner in the public private partnershipz and ~vhere~~WHEREAS Auburn Development, LLC as the Applicant is seeking a loan from Florida Housing for the new construction of housing under CWHIP, v~rhnm isand...as a party to the Public-Private Partnership and has been designated by the Public-Private Partnership as having financial responsibility and ..~hi~h--will execute all loan documents and will have the authority at closing to encumber the project. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto intend to be legally bound and hereby agree as follows: 1. Developer, subject to the terms and conditions herein, and compliance by each of the parties hereto with their obligations hereunder, hereby agrees to the following in connection with the Project Partnership: (a) The Developer shall commit at least t~s~n,~ fi:efifty percent (50%) of the total number of residential units approved to "essential services personnel workforce housing", as will be defined by the City in a manner that is generally consistent with its corresponding LHAP definition. The workforce housing commitment to provide such housing shall bevmet by offering housing at a price affordable to persons or families earning up to 140% of the AMI as defined in the CWHIP legislation. (b) Developer agrees to apply for a grant under the terms of the CWHIl' to enable the development of a 52 workforce ownership townhome community and 264 unit workforce rental community within Villages at Delray to be constructed on that portion of the Property identified as Exhibit B~'ype I-hereto. These units will be made available to meet the housing needs of essential services personnel which may include, but not be limited to, teachers, nurses, police, and fire--rescue personnel, in accordance with the goals of the City of Delray Beach. (c) The Delray Beach Housing Authority agrees to transfer the redevelopment site of approximately 18 acres, including the 3.075~Q acres included in this application, and shall have a Capital Account credited in the amount of $7,000,000 for the entire 18 acres. 2. The City of Delray Beach hereby agrees to comply with the following in connection with the Project Partnership: (a) In recognition of the important public purpose served by the creation of a substantial number of housing opportunities for Delray Beach's essential workforce, the City of Delray Beach has created the Carver Estates Overlay District in support of workforce housing. The City will handle development reviews concurrently, rather than sequentially, and the entire review and approval process, including public hearings, shall be completed as stated below. Required approvals shall include and not be limited to the following, as applicable: comprehensive plan amendment;",.any rezoning;-, .plat approval and site plan approval. (b) The City shall expedite the review of the development applications for the Comp Plan amendment, rezoning, site plans in the development, and other approvals and permits that are required by the City and its agencies in connection with the development of the Project provided however that by entering into this agreement the City makes no promises that any approvals will be given ; (c) The City will perform an expedited review of all plans and permits in conjunction with site plan approval and shall complete that review no more than sixty (60) days from the date of submittal of information by Developer so long as the information submitted by developer is complete and sufficient for a thorough review; (d) The overall review process, including all required public hearings, shall be held and completed within ninety (90) days of the date of initial submittal of a complete and sufficient application by Developer (said date may be extended to accommodate additional days of delay caused by the state, developer, or any other third party), provided however, if Developer fails to provide appropriate plans that are in compliance with the City's Land Development Regulations and the plans are rejected the time from the date of rejection to resubmittal of plans that are in compliance shall not be counted toward the overall review process deadlines. Nothing contained herein constitutes nor is it intended to constitute an agreement to approve any of the foregoing. (e) The City shall expedite the review of all development applications, plats and permits, and approval of formal site plans in the development, and other approvals and permits that are required by the City and its agencies in connection with the development of the Project, as stated above. The City and the CRA shall make its staff available to attend monthly meetings with the Developer with all relevant departments in support of the expedited process. (f) The City has created and has allocated fiscal year 2008 funding for a Neighborhood Resource Center, which is subject to funding from year to year, where Families First, the United Way, and other non-profits will provide a full range of credit counseling, application review and counseling services to help clients achieve homeownership within walking distance of Villages at Delray. ,~ ,, .,,, (g) ~'~,;. r';1" ~ .,_, ;,d l~ ~^ ~ .,, Qi cnn nnn ~ f t?,c ;51; ~ dcL roa ~.~. ~t,o in„a ~„ ~o „~;i;~oa ~ r ~t,o tin , ,,;~ r „~ni ao..oi„r„~,o„~ „a;~;,,,,oa , „ ~t,o 'T~i'~i'l,Il'Y'v'l.Il'' Y}~"' YtY'Yii "YYACY'YU" II:'ll'.1.rt1 ~.'.'l,iY.YY'Y"Lil'[:r "1~[l Y...'.'YY'\i"l: ~li"'~t" I,i1YY'Y Y. "Y'ii'1YY'rtrYACY "LY~i' 1W'\i t 1}'~Y'Y1Y'YliY1'Y i1l:~.'. i'irit Y'Yi'4Y'GY'CYtY~i'lI['.~'YfX/~~.7 \Y.YY ...rYY A II PT ZP~f\K1Pr YPYI~/YT.i[]!._S!Ell!`!'~.._~]I.YL ill ll'~kYl PE'll"k~ ~fl.._f11]Il ill ~_1.T/.P11 _TT..I.f)~Y IITIT I'f`.P !'~fl]I.1 P.P K11lTlf~.~!.. Tflk'..._!.~:k. ~P~~~.._4. 1111 T,.]P ~k'S!..... ivv v><v~v>< >L V>L>L ~>L>L>L~ ouv><>t u~u>L ~>Li>LV><><~o w ~uu>L>Li>LVU vv v><iiiv><vv ><>tv uov><>tv><uo iv>< u~ ><vuo~ vv .y vu>L O~ „r..,,, TIP~rP1.,r.Pr _nPllir.< nll S7 4.>tv~r,L.PmPn 4P P„nlfiP~ v~PrLfPrnP 1,P„nPh~l~n nr. u~rv.Y i~.v~v~rc.Y ~~.YYY.Y~ uY. /c. .v vvY><Y><vrYYa„~ tv ~uuriYVU vvvYYiivYVV .YVU.~c.YYVYU.~~ uYYu athervWrise"cnmpl~zin~ ~=ith"the City's ~dorkf~rc~ I~QUSin~ ~?rd'inanceThe City a~~ress to release the 11 acres rental site as Collateral and a rees to a refinancin and restructurin of its existing loan on the site upon mutually acceptable terms so long as the loan pay off continues as it currently exists, except that if payment m full.. of the ..entire Goan. occurs by December 31 2010, then_the City will forgive $1 million of the total amount due the City _ _ _ subject to unitten approval by HUD. (h) The City agrees all Restrictive Covenants shall meet the requirements of the city ordinances at the time they are recorded and are subject to approval of the City Attorney. 4. Delray Beach Chamber of Commerce hereby agrees as follows: (a) Chamber shall provide advertising and public relations designed to generate support for the project; (b) Chamber shall provide an outreach program for local employers to educate employees about workforce housing opportunities in the Project. This is a critical component of the Project Partnership, as most low paid professionals are unaware that they qualify for affordable housing programs. (c) Chamber shall work with the Developer to promote employer assisted down payment assistance programs. 5. The City hereby further agrees as follows: (a) The City shall provide outreach educational materials prepared by Developer to their current and prospective employees regarding Work Force Housing opportunities in the Project. The City and Developer shall cooperate in the dissemination of appropriate materials for distribution to current and prospective City employees; 6. The Palm Beach County School District agrees as follows: (a) The Palm Beach County School District agrees to perform those items as approved by the Palm Beach County School District in the resolution attached hereto as Exhibit A. 7. Each of the parties hereto acknowledges and agrees that the foregoing is intended to be anon-exclusive list of what each party shall do to facilitate the Project Partnership and to further the goals of the CWHIl'. Each of the parties agrees to take such further actions as may be necessary or appropriate to cooperate with one another and to achieve the success of the program; provided however, the City does not guarantee that any approvals will be made as a result of entry into this Agreement. 8. Developer is hereby authorized to complete and submit the CWHIP application on behalf of the partnership reflected in this Agreement and each of the parties hereto. 9. Except as provided herein, nothing herein shall be construed to constitute any party thereto as the agent of any other party or to limit in any manner any party from carrying on its respective activities, functions or businesses. 10. Each of the parties hereto will execute and deliver such further instruments and do such further acts and things which may be required to carry out the intent and purposes of this Agreement. 11. Each of the parties acknowledge and agree that in the event a party hereto shall fail to perform any of its obligations hereunder, the other parties will be without adequate remedy at law and will therefore be entitled to enforce such obligations by temporary or permanent injunctive or mandatory relief obtained in an action or proceeding instituted in any court of competent jurisdiction without the necessity of proving damages without prejudice or any other remedies it may have at law or in equity. Except as provided herein, this Agreement is made solely and specifically among and for the benefit of the parties hereto and their respective successors and assigns, and no other person shall have any rights, interest or claims hereunder or be entitled to any benefits under or on account of this Agreement as a third-party beneficiary or otherwise. 12. The services and covenants provided for herein are not exclusive and the City and other parties may enter into agreements with any other entity it deems would also further its interests in affordable housing. 13. This is the entire agreement between the parties and any other conditions or terms to be binding shall be in writing and shall be set forth in an amendment to this Agreement. 14. This Agreement shall be effective once signed by the parties to this Agreement. This Agreement shall be binding upon the parties' assigns and successors in interest and will not expire before June 30~, 2008. THIS SPACE INTENTIONALLY BLANK SIGNATURES ON FOLLOWING PAGE IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day and year first above written. Auburn Development, a Florida limited liability company By: Thomas Hinners, Manager Auburn Development, LLC Member Delray Beach Housing Authority By: Dorothy Ellington, President CITY OF DELRAY BEACH, FLORIDA By: Rita Ellis, Mayor Attest: City Clerk Approved as Form: City Attorney DELRAY BEACH CHAMBER OF COMMERCE By: Title PALM BEACH COUNTY SCHOOL DISTRICT By: Title: Exhibit A BEFORE THE SGHOOL BOARD 4F PALM BEAGH COUNTY, FLORIDA PALM BEACH COUNTY, FLORIDA RESOLUTION NO. 2D08-04-D9 PL7 (Special Meeting} January 9, 2088 A RESOLUTION OF THE 5CHOOL BOARD OF PALM BEACH COUNTY, FLORIDA, APPROVING A PUBLICIPRIVATE PARTNERSHIP WITH AUBURN DEVELOPMENT, LLCIDELRAY BEACH HOUSING AUTHORITY ON THE VILLAGE AT pELRAY FOR THE COMMUNITY WORKFORCE HOUSING INNOVATION PILOT PROGRAM (CWHIP] GRANT APPLICATIONS ANIa AUTHORIZE THE CHAIRMAN AND SUPERINTENpENT TO SIGN ALL NECESSARY DOCUMENTS WHEREAS, the Florida Legislature approved House Bill 1375 during the 2[#07 legislative session which created a grant program in the amount of $62.4 million far affordable housing pilaf programs called Community Workforce Housing Innovation Pilot Program (C1NHiP] to be adminis#ered by the Florida Flausing Finance Corporation; and WHEREAS, one of the primary criteria of the grant is that a public private partnership be formed for grant application; and WHEREAS, Auburn Development, L,LC1Delray Beach Housing Authority approached the School District s~ff reques#ing that the School District be a public partner an their CWHIP grant application; and WHEREAS, the School District staff reviewed the request and found that the housing to be provided could benefit teachers in owning homes; and WHEREAS, based upon the evaluations provided by the School District staff, staff recommended and the School Board approved that the District act as file public partner for the Village at Delray in Delray Beach, FL an tl3e CWHIP grant applications. NOW THERIEI=ORE, BE IT RE50LVED as follows: 'I. The School Board hereby approves partnering with the Village at Delray on the CWHIP grant application as a public partner. 2. The School Board hereby pledges to provide up to $50l),UOt) to The Village at I]elray in the form of subsidies to eligible teachers at Title 1 schools, which funding shall come from the General fund. 3. The School Board will honor its commitment even if the project is not successful in receiving the CWHIP grant. Page 1 of 2 4. Prior to any School Board funds being disbursed, the Schvvl Board hereby directs District staff to negotiate a Cooperative Agreemerrt with the Village at l]elray detailing the terms, conditions and pn~visions of the use of the Sc17o41 Baard's funds and t4 develop eligibility criteria addressing these issues and tha negotiation of any necessary agreements with the applicable collective bargaining unit{s}. The Cooperative Agnaemen# and any agreements with collective bargaining units shad be subject io review and approval of the $Ch801 BDBrd. 5. The 5chaol Board hereby authorizes the Chairman and Superintendent, or their designees, to sign the Village at Delray CWHIP grant application and ar3y other documents reasonably required to complete the grans application process, DULY PASSED AhID A©OPTEI3, at public meeting this day of , 2E3118. THE SCHODL ~DAf~I] OF PALM BEACH COUNTY, FLORIDA Filed with #Fte Clerk of the School Board This day of , 2flOfi. ArthurJahnsan, I~h.D., Superintendent and Secretary of the School Board Revievred and Approved Alicia Gent, Cleric 6y: William G. Graham, Chairman Attest: 5chaol Board Attorney Page ~ of 2 Exhibit B Rental DeyeloPment LEGAL DESCRIPTION: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (ll acre site without Tract "A TRACT...."G"...AND..A PORTION..OF TRACT..." C".,...AUBURN..TRACEx ACCORDING TO. THE PLAT THEREOF AS. RECORDED IN.PLAT BOOK 64a AT PAGES 1.84, THROUGH 186 OF THE. PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA. BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: SAID LANDS....SITUATE IN...THE CITY OF DELRAY BEACH, PALM BEACH COUNTY FLORIDA. CONTAINING 11.03 ACRES OF LAND. MORE OR LESS. For-Sale Dezrelopment LEGAL DESCRIl'TION:_ (south of Carver estates) (PER ORDFR OF TAKING O.R.B. 1 hh37 PG.I 3h8) TRACT "B",.ALIGHT INDUSTRIAL DEVELOPMENT FOR FRANZ / DELK I~INNAIRD ACCORDING TO THE_PLAT THEREOF_RECORDED IN PLAT BOOK 63, AT PAGE 93, OF THE PUBLIC RECORDS OF PALM BEACH COUNTY, FLORIDA.. CONTAINING 3.075 ACRES MORE OR LESS,. SAID_LANDS SITUATE. WITHIN THE CITY OF DELRAY BEACH, PALM BEACH. COUNTY,. FLORIDA ^ r ti 1 w 1 ~ `~1~- ,; :. . +.}+ 5_+ '',~x'~: .z'~n~4 ~l :+lJ .r 'r 1 ~ .~