HomeMy WebLinkAboutReso 2015-2383 RESOLUTION NO. 2015- 2W3
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
SUNNY ISLES BEACH, FLORIDA, AUTHORIZING THE CITY
MANAGER TO ISSUE PAY-OFF AMOUNT NOT TO EXCEED
ONE HUNDRED SEVENTY EIGHT THOUSAND ONE HUNDRED
NINETY ONE DOLLARS AND NINETY THREE CENTS
($178,191.93) TO THE FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION ("DEP") TO REFUND
GRANT FUNDS PROVIDED TO THE CITY ; PROVIDING THE
CITY MANAGER AND THE CITY ATTORNEY WITH THE
AUTHORITY TO DO ALL THINGS NECESSARY TO
EFFECTUATE THIS RESOLUTION; PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, by Declaration of Restrictions recorded in O.R. Book 26192, Page 1229, of
the Public Records of Miami-Dade County, Florida, the City dedicated a parcel of land situated at
500 Sunny Isles Blvd ("Land") in perpetuity as a Public Park and Marina for outdoor recreation
for the use and benefit of the public; and
WHEREAS, on March 4, 2009, DEP provided the City of Sunny Isles Beach ("City")
with grant funds under the Florida Recreation Development Assistance Program, DEP
Agreement No. A9033 (the "Grant") to develop the Land as a park and marina; and
WHEREAS, the City desires to sell the land that was approved for recreational use and
pursuant to the Declaration, the City must refund the grant funds with interest to DEP; and
WHEREAS, DEP has provided a Grant Pay-Off amount plus interest to the City in order
to release the Declaration of Restrictions; and
WHEREAS, the City Commission wishes to pay off the amount due to DEP.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF SUNNY ISLES BEACH,FLORIDA, AS FOLLOWS:
Section 1. Authorizing the Grant Pay-Off. The City Commission of the City of Sunny Isles
Beach hereby authorizes the City Manager to pay an amount not to exceed One Hundred
Seventy Eight Thousand One Hundred Ninety One Dollars and Ninety Three Cents
($178,191.93) to the Department of Environmental Protection to refund the Grant.
Section 2. Authorization of City Manager and City Attorney. The City Manager and the City
Attorney are hereby authorized to do all things necessary to effectuate this Resolution.
Section 3. Effective Date. This Resolution shall become effective upon adoption.
Authorizing Payoff For FRDAP Grant.Doc Page 1 of 2
PASSED AND ADOPTED this [014 day of c'• �:�. 1, I .
George HAcholl, Mayor
ATTEST:
C:=SGr.m.L.
Jane A. Hines, City Clerk, MMC
APPROVED AS TO FORM
AND . • L SUFFICIENCY:
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''.417u knot, City Attorney
Moved by: /1_La3
Seconded by: V(C k � Q
Vote:
Mayor Scholl y�Yes) (No)
Vice Mayor Gatto (Yes) (No)
Commissioner Aelion (Yes) (No)
Commissioner Goldman Yes) (No)
Commissioner Levin V(Yes) (No)
Authorizing Payoff For FRDAP Grant Doc Page 2 of 2
yggICKW RICK SCOTT
FLORIDA DEPARTMENT OF
GOB C RN.OR
` ENVIRONMENTAL PROTECTION
, CARLOS I OPE7-C \NTERA
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,;} :; MARJORY STONEMAN DOUGLAS BUILDING
3800 COMMONWEALTH BOULEVARD,MS550 IONA II IAN N. SCEVE.RSON
TALLAHASSEE,FLORIDA 32399-3000
Y CUT:IRY
February 18, 2015
Via email c/o HOttinot @sibfl.net
Hans Ottinot, City Attorney
City of Sunny Isles Beach
18070 Collins Avenue
4th Floor
Sunny Isles Beach, Florida 33160
Re: Request for Grant Pay-Off—DEP Agreement No. A9033
Florida Recreation Development Assistance Program(FRDAP) Grant
Declaration of Restrictions Recorded in ORB 26192, Page 1229
500 Sunny Isles Beach Blvd., Tax Parcel ID # 31-2214-007-0210
Dear Mr. Ottinot:
We are in receipt of your letter dated January 28, 2015, informing the Department of the
City's intent to sell the above-referenced Property. In connection therewith, you have
requested an exact pay-off amount in order to release the Property from the encumbrance
of the subject FRDAP Grant Declaration of Restrictions (the "Declaration"). Pursuant to
Paragraph(3)of the Declaration,the repayment of the Grant includes interest calculated at
two percent (2%) over the prevailing prime rate as reported by the Federal Reserve.
Our records reflect that the DEP disbursed the FRDAP Grant to the City on March 4, 2009
in the amount of$135,611.00. The prime rate, as reported by the Federal Reserve, from
the period March 4, 2009 through February 12, 2015, has remained constant at 3.25% per
annum,and we assume it will remain at this constant rate through February 23,2015. (See,
http://www.federalreserve.gov/releases/h15/data.htm#fn3). Therefore, we calculated
the accrued interest on the Grant amount at a constant rate of 5.25%per annum(two percent
over the stated prime rate)from the date of disbursement. Our excel worksheet is enclosed.
Al 1111.dep.stale.11.us
Hans Ottinot, City Attorney
February 18, 2015
Page 2
The required Grant repayment as of February 23, 2015 is as follows:
Grant principal $135,611.00
Accrued interest from March 4, 2009
through February 23, 2015 + 42,580.93
Total due through February 23, 2015: $178,191.93
The City must add interest of$19.5057 per day for each additional day after February 23,
2015, until payment is received by DEP.
The City's check should be made payable to the "Florida Department of
Environmental Protection"and include the notation: "Land Acquisition Trust Fund,
FRDAP Project Number A9033." Please deliver the check to the undersigned's
attention c/o the above address.
Also enclosed/attached is a draft of the Release and Cancellation of the Declaration of
Restrictions, for your review and comment. I look forward to your comments on the
proposed Release.
We appreciate the City's cooperation in repaying the full amount of the Grant,with interest.
If we can be of further assistance or if you have any questions or concerns regarding the
payoff calculation, please contact me directly at(850) 245-2501.
Sincerely,
O
Angela B i ht
Enclosures/Attachments (3)
tirx if dep.staie./l.us