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Reso 2015-2382
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Reso 2015-2382
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Last modified
6/2/2015 3:35:07 PM
Creation date
3/4/2015 4:31:46 PM
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CityClerk-Resolutions
Resolution Type
Resolution
Resolution Number
2015-2382
Date (mm/dd/yyyy)
02/19/2015
Description
Restrictive Covenant w/FL Cultural Affairs: Gateway Pk Open Space, Pk & Cultural Facilities
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3.) For the required duration of this covenant, the Parties agree <br /> that the Grantee shall own all improvements to the facility and to <br /> the associated land, funded in whole or in part by grant funds <br /> 4.) The Division has the right to inspect the facility at all <br /> reasonable times to determine whether the conditions of the <br /> agreement and this covenant are being complied with. <br /> 5.) The Grantee shall operate and maintain the facility as a <br /> "cultural facility," defined as a building and open space which shall <br /> be used primarily for the programming, production, presentation, <br /> exhibition or any combination of the above functions of any of the cultural disciplines, <br /> such as: music, dance, theatre, creative writing, literature, painting, sculpture, folks <br /> arts, photography, crafts, media arts, and historical and science museums." <br /> 6.) This restrictive covenant will be violated by the Grantee, or its successors in <br /> interest if the facility ceases to be used as a cultural facility, as defined above, within ten <br /> (10) years following execution of the execution of the grant award agreement as <br /> required by Section 265.701(4), Florida Statutes. If the Grantee violates this restrictive <br /> covenant, it shall repay the grant funds to the Division pursuant to the amortization <br /> schedule set forth below: <br /> a. If the violation occurs within five (5) years following the execution of the grant <br /> award agreement, 100% of the grant amount; <br /> b. If the violation occurs more than five (5) but less than six (6) years following exe- <br /> cution of the grant award agreement, 80% of the grant amount; <br /> c. If the violation occurs more than six (6) but less than seven (7) years following ex- <br /> ecution of the grant award agreement, 65% of the grant amount; <br /> d. If the violation occurs more than seven (7) but less than eight (8) years following <br /> execution of the grant award agreement, 50% of the grant amount; <br /> e. If the violation occurs more than eight (8) but less than nine (9) years following <br /> execution of the grant award agreement, 35% of the grant amount; and <br /> f. If the violation occurs more than nine (9) but less than ten (10) years following ex- <br /> ecution of the grant award agreement, 20% of the grant amount. <br /> 7.) Any amount due from the Grantee as a result of a violation of this restrictive <br /> covenant shall be due in full within 90 days of the violation, or some other period of <br /> time as agreed upon by the Parties. <br /> Page 2 of 6 <br />
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