Amended HOME Program Agreement
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FIRST AMENDMENT TO HOME PROGRAM AGREEMENT
THIS FIRST AMENDMENT TO THE AGREEMENT, entered into this 20taay of r~ruiZr~,
2002, by and between the CITY OF MIAMI BEACH, a Florida municipal corporation, having its
principal office at 1700 Convention Center Drive, Miami Beach, Florida, (City), and MIAMI BEACH
COMMUNITY DEVELOPMENT eORPORATION, INC., a Florida Not-for-Profit Corporation,
with offices located at 945 Pennsylvania Avenue, Miami Beach, Florida (hereinafter referred to as
Owner).
WITNESSETH:
WHEREAS, on June 6, 2001, the City adopted Resolution No. 2001-24453, authorizing a
HOME Program Agreement with Owner which committed $328,987 from the City's fiscal year
2000/2001 HOME Program allocation for eligible CHDO projects; and
WHEREAS, the Owner has submitted a request to the eity to utilize $614,913 of the
previously committed fiscal year 200112002 CHDO funds for a CHDO project to acquire and
rehabilitate an apartment building located at 532 Michigan Avenue; and
WHEREAS, on January 25, 2002, the eity's Loan Revit\w Committee approved the use of the
requested $614,913 in previously allocated funds for funding for an apartment building located at 532
Michigan Avenue to satisfy a loan from Gulf Bank, and provide funds for predevelopment costs; and
WHEREAS, Owner warrants and represents that it possesses the legal authority to enter into
this Agreement, by way of a resolution that has been duly adopted as an official act of the Board of
Directors, authorizing the execution of this Agreement, including all understandings and assurances
contained herein, and authorizing the person(s) identified as 'their official representative(s) to execute
this Agreement and any other documents which may be necessary to implement this project; and
WHEREAS, the City and the Owner now wish to amend the Agreement.
NOW, THEREFORE, in consideration of the promises and of the mutual cov~nants and
agreements hereinafter set forth, the parties hereto do hereby agree as follows;
1. In all references throughout the Agreement, the 10- year affordability period is replaced by the
15-year affordability period.
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2. ARTICLE II, ALLOCATION OF HOME FUNDS, page 2, the first paragraph is deleted in its
entirety and amended as follows:
In consideration of the performance by Owner of its role and responsibilities set forth
in this Agreement, the City agrees to provide a conditional grant of HOME Program funds to
Owner in the amount of Nine Hundred Forty-Three Thousand Nine Hundred Dollars ($943,900)
(Funds) which consists of$328,987 of previously committed fiscal year 2000/2001 CHDO set-
aside funds, and $614,913 of previously allocated fiscal year 200112002 CHDO set-aside funds.
3. ARTICLE VI, DISBURSEMENT OF FUNDS, page 5, sentence (1) is deleted and replaced by
the following sentence:
The Funds shall be used by Owner for acquisition and rehabilitation of real property, and related
soft costs.
4. ARTICLE XXX, LIMITATION OF LIABILITY, page 15, is hereby deleted in its entirety and
amended as follows:
The City desires to enter into this Agreement only if in so doing the City can place a limit on
the City's liability for any cause of action for money damages due to an alleged breach by the
City of this Agreement, so that its liability for any such breach never exceeds the sum of
$943,900. Owner hereby expresses its willingness to enter into this Agreement with Owner's
recovery from the City for any damage action for breach of contract to be limited to a maximum
amount of $943,900. Accordingly, and notwithstanding any other term or condition of this
Agreement, Owner hereby agrees that the City shall not be liable to Owner for damages in an
amount in excess of $943,900, for any action or claim for breach of contract arising out of the
performance or non-performance of any obligations imposed upon the City by this Agreement.
Nothing contained in this paragraph or elsewhere in this Agreement is in any way intended to
be a waiver of the limitation placed upon the City's liability as set forth in Florida Statutes,
Section 768.28.
5. ARTICLE XXXIV, NOTICES, page 16, the address of the Owner is hereby changed to read as
follows:
945 Pennsylvania Avenue
Miami Beach, FL 33139
6. Except as amended by this Amendment, no term or condition of the Agreement shall be
modified and the same shall remain in full force and effect; provided, however, if any revision
of this Amendment is in conflict with, or inconsistent with, any information in the Agreement,
the provision contained in this Amendment shall govern and control.
7. This Amendment shall be binding upon and shall inure to the benefit of the respective
successors and assigns ofthe parties hereto.
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IN WITNESS WHEREOF, the parties hereto executed this Amendment as of the day and date
first above written.
ATTEST:
MIAMI BEACH COMMUNITY
DEVELOPMENT CORPORATION
a Florida not-for-profit corporation
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Roberto Datorre, President, Authorized Signatory
Secretary
~t~
City Clerk
F MIAMI BEACH
icipal corporation
ATTEST:
Mayor
F:\NEIG\Housing\RUSSELL\RESOLUTN\532 MICHIGAN A VB AMEND AGREE.doc
APPROVED AS TO
FORM. LANGUAGE
a FOR EXECUTION
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