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2013-28139 Reso 2013 -28139 RESOLUTION NO. A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE FOLLOWING ACTIONS WITH REGARD TO THE CITY'S NEIGHBORHOOD STABILIZATION PROGRAM 1 (NSP1) AGREEMENTS: 1) APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AMENDMENT NO. 5 TO THE SUBGRANT AGREEMENT BETWEEN THE STATE OF FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY (DEO) AND THE CITY MODIFYING THE EXPIRATION DATE OF THE SUBGRANT AGREEMENT FROM FEBRUARY 15, 2013, TO AUGUST 15, 2013; 2) APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AMENDMENT NO. 9 TO THE NSP1 AGREEMENT BETWEEN THE CITY AND MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION ( MBCDC), DATED JANUARY 21, 2010, MODIFYING THE EXPIRATION DATE OF SUCH AGREEMENT FROM FEBRUARY 15, 2013 TO AUGUST 15, 2013; AND FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE SUCH AMENDMENTS AND ANY SUBSEQUENTLY APPROVED EXTENSIONS BY US HUD OR DEO. WHEREAS, on July 31, 2008, the United States Congress enacted the Housing and Economic Recovery Act of 2008, thereby creating the Neighborhood Stabilization Program 1 (NSP1), which directed the Department of Housing and Urban Development (HUD) to allocate $3.93 billion to states and units of local government as emergency assistance for the purchase and redevelopment of abandoned and foreclosed homes; and WHEREAS, on March 18, 2009, the City approved Resolution No. 2009 - 27039, approving the City's planned use of and application of NSP1 funds to purchase and rehabilitate one or more foreclosed or abandoned multi - family buildings to be made available as rental housing properties for income qualified households; and WHEREAS, the City was awarded a total of $9,305,268 in NSP1 funds through an initial allocation plus two subsequent allocations; and WHEREAS, the State of Florida Department of Economic Development (DEO) is the entity managing the NSP1 allocation to the City of Miami Beach; and WHEREAS, the Administration conducted a duly- noticed procurement process for award of the first allocation, resulting in the City Commission's approval on September 9, 2009, of Resolution No. 2009 -27194 which authorizing the execution of an Agreement with Miami Beach Community Development Corporation to carry out the City's planned use of, and application for, NSP1 funds ( "MBCDC Agreement "); and WHEREAS, the initial strategy was to fund the acquisition and rehabilitation of one affordable housing project, which resulted in the acquisition of the 16 -unit foreclosed building located at 7871 Crespi Blvd., which was later named The Madeleine; and WHEREAS, on February 3, 2010, the City's Agreement with MBCDC was amended per Resolution No. 2010- 27335, to allow for the allocation of additional NSP1 funds received by the City; and WHEREAS, the additional acquisition and rehabilitation funds resulting from the second and third allocations were authorized for the acquisition and rehabilitation of The Neptune, a 35 -unit foreclosed apartment building located at 1632 Meridian Avenue; and The Lottie, a nine -unit foreclosed apartment building which contains large apartments and is suitable for families, located at 530 75 Street; and WHEREAS, a total of 60 units were purchased with NSP1 funds and rehabilitated for income - eligible Miami Beach residents; and WHEREAS, The Lottie is in TCO status as of November 21, 2012, and is pending a final inspection for CO; and WHEREAS, to date, 39 out of the total 60 units are occupied; and WHEREAS, the City's NSP1 grant agreements with the State DEO and with MBCDC expire February 15, 2013; and WHEREAS, in -light of the current February 15, 2013 expiration date, the City budgeted general funds to continue monitoring of the NSP1 Activities and close -out of the grant; and WHEREAS, the State's DEO has requested that both Miami Beach contracts be extended through August 15, 2013, in order to lease -up the remaining vacant units, obtain the CO at The Lottie, and close out the grant; and WHEREAS, 75% of the other entitlement communities in Florida have not yet met the HUD National Objective, which is to have 100% occupancy of the NSP1- funded homes, and WHEREAS, extension of the contracts will enable the City of continue to expend available NSP1 grant administrative funds until the new expiration date of the contracts; and WHEREAS, the grant's current administrative expenses are averaging $11,882 per month, therefore an additional $71,292 will be available over the proposed additional six month term; and WHEREAS, in order to complete the aforementioned tasks, the Administration recommends extending the end dates of both the NSP1 Subgrant Agreement and the MBCDC Agreement, so that they both expire on August 15, 2013. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby approve and authorize the Mayor and the City Clerk to execute Amendment No. 5 to the Subgrant Agreement between the State of Florida Department of Economic Development (DEO) and the City modifying the expiration date of the Subgrant Agreement from February 15, 2013, to August 15, 2013; and approve and authorize the Mayor and City Clerk to execute Amendment No. 9 to the NSP1 Agreement between the City and Miami Beach Community Development Corporation ( MBCDC), dated January 21, 2010, modifying the expiration date of such Agreement from February 15, 2013 to August 15, 2013; and further authorize the City Manager to execute such amendments and any subsequently approved extensions by US HUD or DEO. PASSED AND ADOPTED this pf J-k4 rS/ , 2013. ATTEST: INCORP O,gATEQ V PR ED AS TO LANGUAGE CITY CLERK MOOR" PN Ci Attorneys Date \.V /VI /VIIJJI\.l1 V I I LIVI 'JUIVI /VIPII\ I Condensed Title: A Resolution Authorizing: 1) An Amendment to the NSP1 Agreement between the City and the State of Florida Department of Economic Opportunity (DEO) and the related Agreement between the City and Miami Beach Community Development Corporation (MBCDC) to extend the expiration date of both agreements to August 15, 2013; 2) to authorize the City Manager to execute such amendments and any subsequently approved extensions by US HUD or DEO. Key Intended Outcome Supported: Increase access to workforce or affordable housing. Supporting Data (Surveys, Environmental Scan, etc.): Based on the Strategic Plan 2011 Update, the number of affordable housing units is 4,743. Issue: Shall the City approve amendments extending the expiration dates of the NSP1- related contracts with the State DEO and MBCDC from February 15, 2013, to August 15, 2013, in order to continue monitoring of the NSP1 activities, lease-up vacant units, and close -out the rant. Item Summa /Recommendation: The U.S. Housing and Economic Recovery Act of 2008 created the Neighborhood Stabilization Program (NSP1), which directed HUD to allocate $3.93 billion to states and units of local government as emergency assistance for the purchase and redevelopment of abandoned and foreclosed homes. Miami Beach applied for NSP1 funds for the purchase and rehabilitation of one or more multi - family buildings to be kept as rental properties to benefit income - qualified households in accordance with the NSP1 regulations and was awarded a total of $9,305,268 through an initial allocation plus two subsequent allocations. The State DEO is the pass- through entity handling HUD's NSP1 allocation to the City of Miami Beach. The initial allocation to the City in the amount of $2,549,441 was formula- based. The second and third allocations in the amounts of $4,755,717 and $2,000,000, respectively, were awarded to Miami Beach after the original recipients, Apopka and Clearwater, failed to meet the program's benchmarks, while the City of Miami Beach consistently demonstrated above - average performance. The City entered into a grant agreement with the State, and after conducting a procurement process for award of the first allocation, entered into a related agreement with MBCDC. Both Agreements were subsequently amended to accept and govern the second and third allocations of funding. Both Agreements currently expire on February 15, 2013. From each of the three allocations, totaling $9,305,268, the City was allowed to use a maximum of 6.8% for administrative expenses. Therefore, a total of $632,758 was allocated for administration expenses and $8,672,510 for NSP1 project development. Three foreclosed buildings were acquired by MBCDC pursuant to the NSP1 guidelines and they are all substantially complete. The Madeleine, a 16 -unit building located at 7871 Crespi Blvd., received a CO on October 11, 2012; The Neptune, a 35 -unit building located at 1632 Meridian Avenue, received a CO on November 15, 2012; and The Lottie a nine -unit building located at 530 75 Street, is expected to receive a C.O. within the next week. To date, 39 of the 60 units are occupied. Since the NSP1 grant's agreements were scheduled to expire on February 15, 2013, the Administration did not anticipate expending any NSP1 administrative funds after February 15, 2013. Instead, general funds were budgeted for administrative expenses for the continued monitoring and close -out of the grant. However, the State DEO has now asked the City to extend the time of the agreements to comply with NPS1 close -out instructions because the City, like 75% of the other entitlement communities in Florida, have not yet met the HUD National Objective, which is to have 100% occupancy of the NSP1- funded homes. Therefore, the Administration recommends extension of both contracts, which will enable the City to continue to expend available NSP1 grant administrative funds until the new expiration date of the contracts. Currently, the grant's administrative expenses are averaging $11,882 per month. Therefore, an additional $71,292 will be available over the proposed additional six month term. Concurrently, MBCDC will be provided additional time to achieve 100% occupancy of the NSP1- funded homes. Furthermore, it is recommended that the City Manager be authorized to execute any subsequent amendments related to extension of time. Advisory Board Recommendation: N/A Financial Information: Source of Funds: Amount Account Approved 1 NSP 2 OBPI Total Financial Impact Summary: City Clerk's Office Legislative Tracking: Anna Parekh ext 7260 Sign-Offs: * Department Director s City Manager City Manager VA P MAS KGB 90 MIAMIBEACH AGENDA ITEM r E C 2-(0 -/_ MIAMI BEACH City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov COMMISSION MEMORANDUM TO: Mayor Matti Herrera Bower and Members of the City Commission FROM: Kathie Brooks, Acting City Manager DATE: February 6, 2013 SUBJECT: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, APPROVING AND AUTHORIZING THE FOLLOWING ACTIONS WITH REGARD TO THE CITY'S NEIGHBORHOOD STABILIZATION PROGRAM 1 (NSP1) AGREEMENTS: 1) APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AMENDMENT NUMBER 5 TO THE SUBGRANT AGREEMENT BETWEEN THE STATE OF FLORIDA DEPARTMENT OF ECONOMIC OPPORTUNITY (DEO) AND THE CITY, MODIFYING THE EXPIRATION DATE OF THE SUBGRANT AGREEMENT FROM FEBRUARY 15, 2013, TO AUGUST 15, 2013; 2) APPROVING AND AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AMENDMENT NO. 9 TO THE NSP1 AGREEMENT BETWEEN THE CITY AND MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION (MBCDC) DATED JANUARY 21, 2010, MODIFYING THE EXPIRATION DATE OF SUCH AGREEMENT FROM FEBRUARY 15, 2013 TO AUGUST 15, 2013; AND FURTHER AUTHORIZING THE CITY MANAGER TO EXECUTE SUCH AMENDMENTS AND ANY SUBSEQUENTLY APPROVED EXTENSIONS BY US HUD OR DEO. ADMINISTRATION RECOMMENDATION Adopt the Resolution. ANALYSIS On July 31, 2008, the United States Congress enacted the Housing and Economic Recovery Act of 2008, thereby creating the Neighborhood Stabilization Program, which directed the Department of Housing and Urban Development (HUD) to allocate $3.93 billion to states and units of local government as emergency assistance for the purchase and redevelopment of abandoned and foreclosed homes. Resolution No. 2009 -27039 was adopted by the City Commission on March 18, 2009, approving the City's application for and planned use of NSP1 funds for the purchase and rehabilitation of one or more multi - family buildings to be kept as rental properties to benefit income - qualified households in accordance with the NSP1 regulations, with an end goal of stabilizing neighborhoods impacted by foreclosures. The City of Miami Beach was awarded a total of $9,305,268 in NSP1 funds through an initial allocation plus two subsequent allocations. The State's Department of Community Affairs (DCA), now known as the Department of Economic Opportunity (DEO), is the pass- through entity administering HUD's NSP1 allocation to the City of Miami Beach. The initial allocation to the City in the amount of $2,549,441 was formula- based. The second and third allocations in the amounts of $4,755,717 and $2,000,000, respectively, were awarded to Miami Beach after the original recipients, Apopka and Clearwater, failed to meet the program's benchmarks, while the City of Miami Beach consistently demonstrated above - average performance. NSP 1 Agreement Amendments 02/06/2013 Page 2 of 3 On September 9, 2009, the City approved Resolution No. 2009 -27175 authorizing the execution of the Federally- funded Subgrant Agreement with DCA ( "State Agreement "). The initial allocation was $2,549,551. After the Administration conducted a duly- noticed procurement process for award of the first allocation, the City Commission approved on September 9, 2009, Resolution No. 2009 -27194 authorizing the execution of an Agreement with Miami Beach Community Development Corporation to carry out the City's planned use of, and application for, NSP1 funds ( "MBCDC Agreement "). The initial strategy was to fund the acquisition and rehabilitation of one affordable housing project. MBCDC identified the 16 -unit building located at 7871 Crespi Blvd., which was later named The Madeleine. On February 3, 2010, the MBCDC Agreement was amended per Resolution No. 2010 - 27335, which was adopted on February 3, 2010, to allow for the allocation of additional NSP1 funds received by the City. The additional acquisition and rehabilitation funds resulting from the second and third allocations were authorized for the acquisition and rehabilitation of The Neptune, a 35- unit foreclosed apartment building located at 1632 Meridian Avenue; and The Lottie, a nine -unit foreclosed apartment building which contains large apartments and is suitable for families, located at 530 75 Street. With the additional funding, a total of 60 units were purchased to be rehabilitated for income - eligible Miami Beach residents. The State Agreement for the first allocation was subsequently amended to include the two additional allocations in the amounts of $4,755,717 and $2,000,000 which were awarded on March 24, 2010, and July 30, 2010, respectively. From each of the allocations, now totaling $9,305,268, the City was allowed to use a maximum of 6.8% for administrative expenses. Therefore, a total of $632,758 was allocated for administration expenses and $8,672,510 for NSP1 project development. The three NSP1- funded buildings are substantially complete. The Madeleine, 7871 Crespi Blvd., received a Certificate of Occupancy (CO) on October 11, 2012. To date, three out of 16 units are occupied. The Neptune, 1632 Meridian Avenue, received a CO on November 15, 2012. To date, 33 out of 35 units are occupied. The Lottie, 530 75 Street, received a TCO on November 21, 2012 and is expected to receive a CO by February, 2013. To date, three out of nine units at the Lottie are occupied. On June 27, 2010, MBCDC placed ads in The Miami Herald, El Nuevo Herald, and in The New Times requesting applications from eligible residents for the upcoming affordable housing rental units. MBCDC received more than 2,000 applications, of which 1,652 were deemed eligible. On April 19, 2011, a lottery was conducted and a waiting list was compiled for follow -up. As the projects were completed, MBCDC staff called and notified every applicant on the list of the available units on hand. To date, 39 out of 60 units are occupied. The City's NSP1 grant agreements with the State DEO and with MBCDC were set to expire on November 23, 2012. The Administration therefore budgeted general funds for administrative expenses for the continued monitoring and close -out of the grant. Based on recommendations from the State DEO, at that time the Administration recommended reprogramming of the remaining unspent administrative funds to reduce the debt service at the Neptune Apartments, which would result in a proportionate rent reduction to the upcoming tenants. The proposed plan of the unspent administrative funds was approved by the State DEO staff. The Administration presented an analysis of the recommended use of the unspent administrative funds to the Finance and Citywide Projects Committee, which was approved on November 9, 2012. On November 14, 2012 as the item was on the floor at the City Commission meeting, DEO staff called to announce their plan to extend open contracts in six month intervals, until the National Objective is met and close -out instructions are released by HUD. Therefore, DEO staff recommended the City continue to expend the administrative funds as originally allocated. NSP 1 Agreement Amendments 02/06/2013 Page 3 of 3 Consequently, City staff amended the agenda item on the floor to solely request an extension of both contracts through February 15, 2013. The request was approved per Resolution No. 2012- 28063. To date, only 25% of the State's NSP1 grantees have met a National Objective which is to provide affordable housing units to benefit low income residents. The State DEO has requested the City to extend the time of the agreements to comply with NPS1 close -out instructions because the City, like 75% of the other entitlement communities in Florida, have not reached 100% occupancy of the NSP1- funded homes. Therefore, the Administration recommends extension of both contracts, which will enable the City to continue to expend available NSP1 grant administrative funds until the new expiration date of the contracts. Currently, the grant's administrative expenses are averaging $11,882 per month. Therefore, an additional $71,292 will be available over the proposed additional six month term. Concurrently, MBCDC will be provided additional time to achieve 100% occupancy of the NSP1- funded homes. CONCLUSION The Administration requests extensions to both the City's Agreement with the State, and the City's Agreement with MBCDC to reflect a new expiration date of August 15, 2013, and further recommends that the Mayor and City Commission authorize 1.) Amendment No. 5 to the Subgrant Agreement between the State of Florida DEO and the City modifying the expiration date of the Subgrant Agreement from February 15, 2013 to August 15, 2013; 2.) authorize Amendment No. 8 to the related NSP1 Agreement between the City and MBCDC to extend the expiration date the NSP1 Agreement from February 15, 2013 to August 15, 2013; and 3.) authorize the City Manager to execute such Amendments and any subsequently approved extensions by US HUD or DEO. KGB /MS /AP /rs T:MENDAl2013Tebruary 61NSP1 Extension 3 - MEMO- REVISED.docx AMENDMENT NO. 9 TO NEIGHBORHOOD STABILIZATION PROGRAM 1 (NSP1)AGREEMENT, DATED JANUARY 27, 2010, BETWEEN CITY OF'MIAMI BEACH, FLORIDA AND MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION THIS AMENDMENT NO. 9 TO NEIGHBORHOOD STPABILIZATION PROGRAM 1 (NSP1) AGREEMENT is entered into this_1141 day of n'/ 2013, 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 CORPORATION, a Florida not-for-profit corporation, having its principal office at 945 Pennsylvania Avenue, Miami Beach, Florida 33139 (MBCDC or Developer). WITNESSETH: WHEREAS, on July 31, 2009, pursuant to the City's application for same authorized under Resolution No. 2009-27039,the City was awarded a grant under the NSP1 Program, in the amount of$2,549,551, and, accordingly, on November 24, 2009,the City entered into an NSP1 Grant Agreement with the State of Florida Department of Community Affairs (DCA); and WHEREAS, as authorized pursuant to Resolution No. 2009-27194,the City entered into an NSP1 Agreement with Developer(as the sole responsive proposer pursuant to a City issued Request for Proposals for potential NSP1 funded projects), dated January 27, 2010, in the amount of $2,376,181.53, for funding related to Developer's acquisition and rehabilitation of a sixteen (16) unit residential property located at 7871 Crespi Boulevard, Miami Beach, Florida (the Crespi Project), with any remaining funds to bed utilized for the "Secondary Objective Project—Home Ownership Activities"; and WHEREAS, on February 3, 2010, pursuant to Resolution No. 2010-27335, the City was authorized to execute subsequent amendments to the NSP1 Agreement with Developer, for any additional NSP1 funds which might be granted pursuant to the City's requests; and WHEREAS, on February 3, 2010, pursuant to Resolution No. 2010-27348, the City was authorized to enter into and execute Amendment No. 1 to the NSP1 Agreement with Developer, approving a transfer in the ownership of the Crespi Project from MBCDC, to MBCDC: Madeleine Village, LLC, a Florida limited liability corporation whose sole member and agent is MBCDC; and WHEREAS, on March 24, 2010, the City was awarded an additional allocation of NSP1 funds, in the amount of$4,755,717, and, accordingly, executed Modification No. 1 to the November 24, 2009 NSP1 Grant Agreement with DCA; and WHEREAS, on March 30, 2010, City and Developer also executed Amendment No. 2 to the Developer's NSP1 Agreement, to identify and include the Neptune Project, and to identify the additional NSP1 funding being allocated for said project, in the amount of $4,679,226.78; and 1 WHEREAS, on July 1, 2010, the City was awarded an additional allocation of $2,000,000 in recaptured NSP1 funds,and,accordingly,executed Modification No.2 to the November 24, 2009 NSP1 Grant Agreement with DCA; and WHEREAS, on March 3, 2010, Developer entered into a contract for purchase and sale of the Lottie Apartments, a nine(9)unit residential property, located at 530 75th Street, Miami Beach, Florida, for a purchase price of$1,185,000.00; and WHEREAS, on July 22, 2010, City and Developer executed Amendment No. 3 to Developer's NSP1 Agreement,to identify and include the Lottie Apartments Project,and to identify the additional NSP1 funding being allocated for said Project, in the amount of $1,864,000.00 for the acquisition and rehabilitation; and WHEREAS,on September 17,2010, City and Developer executed Amendment No. 4 to Developer's NSP1 Agreement, to transfer ownership of the Lottie Apartments from MBCDC, to MBCDC: Lottie Apartments, LLC, a Florida limited liability corporation whose sole member and agent is MBCDC; and WHEREAS, on May 11, 2011, pursuant to Resolution No. 2011-27657, City was authorized to enter into and execute Amendment No. 5 to the NSP1 Agreement with Developer, extending the Term through March 1, 2013; and WHEREAS, on July 13, 2011, pursuantto Resolution No.2011-27693,the Citywas authorized to enter into and execute Amendment No. 6 to the NSP1 Agreement with Developer,adopting the"City's Policies and Procedures:Construction Draw Down Payment Methodology", dated July 13, 2011; and WHEREAS, pursuant to the provisions of Chapter 2011-142, Laws of Florida, the DCA Division of Housing and Community Development was transferred to the Department of Economic Opportunity(DEO), effective October 1, 2011; and WHEREAS,during DEO's audit of the City's NSP1 Program,which occurred during the week of October 17, 2011, DEO staff required implementation of a new DEO policy to complete NSP1 projects ahead of HUD's expenditure plan; and WHEREAS, DEO staff requested to shorten the Term, to provide for a new contract expiration date, from March 1, 2013, back to November 23, 2012; and WHEREAS, DEO staff also requested that additional terms to be added to the NSP1 Agreement between the City and Developer to memorialize certain policies and procedures; and WHEREAS, on December 14, 2011, pursuant to Resolution No. 2011-27806, the City was authorized to enter into and execute Amendment No. 7 to the NSP1 Agreement with Developer,adopting the new terms requested by DEO and the new expiration date;and WHEREAS, DEO staff approved a new revision to the Term, to provide additional time to complete the Projects, extending the contract expiration date, from November 23, 2012, to February 15, 2013; and 2 WHEREAS, on November 14, 2012, pursuant to Resolution No. 2012-28063, the City was authorized to enter into and execute Amendment No. 8 to the NSP1 Agreement with Developer, adopting the new expiration date, February 15, 2013; and WHEREAS, The Madeleine Apartments received a Certificate of Occupancy(CO)on October 11, 2012, The Neptune Apartments received a Certificate of Occupancy(CO)on November 15, 2012, and The Lottie Apartments received a TCO on November 21, 2012; and WHEREAS,there are 13 out of sixty units pending to be occupied at least once;and WHEREAS, State DEO staff has requested that the City extend the time of the Agreement for a period of six months,from February 15,2013 to August 15,2013,to occupy all units to met the HUD National Objective. NOW THEREFORE, in consideration of the mutual promises contained herein, City and Developer hereby amend the NSP1 Agreement, dated January 27, 2010, as follows: 1. Section 11, on page 4 of the Agreement, is deleted in its entirety and replaced with the following: Section 11. Term: This Agreement shall commence upon the last date of execution by the parties hereto (the Execution Date), and shall terminate on August 15, 2013. Any costs incurred by the Developer prior to the Execution Date which were not approved by the City,will not be reimbursed by the City. Notwithstanding the preceding, the City hereby agrees to a second extension of the Term, through February 15, 2013,which extension shall be contingent upon approval by the State of Florida, in accordance with the guidelines established in the 2008 State of Florida Action Plan Substantial Amendment (Attachment VIII). If approved, by the State, the aforestated extension is intended to be co-terminous with the City's DEO contract expiration date; and with the understanding that, at the end of the Term, the State has the authority to re-capture any remaining unused funds. 2. All other terms and conditions of the NSP1 Agreement(as amended) shall remain unchanged and in full force and effect. (THIS SECTION INTENTIONALLY LEFT BLANK) 3 IN WITNESS WHEREOF, the parties have executed this Amendment No. 9 to NSP1 Agreement as of the date first written above. MIAMI BEACH COMMUNITY DEVELOPMENT CORPORATION ATTEST: a Florida not-for-profit corporation �i Secretary Roberto Da e President, Authorized Signatory ATTEST: CITY OF MIAMI BEACH a Florida Municipal Corporation lit City Clerk or 1 8 INCORP ORATED: �cH 26° APPROVED AS TO FORM &LANGUAGE &FOR EXECUTION i. Z- ney F:I RHCDI$ALLIHSG-CDIALLINSP 11MBCDC Correspondence\Amendments\NSP1 AMENDMENT 9 Extension to 8-13.doc 4 Departai.,it of Economic Opportunity—Neighborhood Sta—.nation Program Modification to Subgrant Agreement 1/31/2013 MODIFICATION NUMBER 5 TO SUBGRANT AGREEMENT BETWEEN THE DEPARTMENT OF ECONOMIC OPPORTUNITY AND CITY OF MIAMI BEACH This Modification is made and entered into by and between the State of Florida, Department of Economic Opportunity, ("the Department"), and City of Miami Beach, ("the Recipient"), to modify DEO/DCA Contract Number IODB-4X-11-23-02-F16, award dated November 24, 2009, ("the Agreement"). WHEREAS,the Department and the Recipient entered into the Agreement, pursuant to which the Department provided a subgrant of $2,549,551.00 to Recipient under the Neighborhood Stabilization Program ("NSP") as set forth in the Agreement; WHEREAS, the Department and the Recipient entered into Modification No. 1 dated March 24, 2010, to the Agreement, pursuant to which the Department provided an additional subgrant of $4,755,717.00 to Recipient under the Neighborhood Stabilization Program ("NSP") as set forth in the Agreement; WHEREAS, the Department and the Recipient entered into Modification No. 2 dated July 30, 2010, to the Agreement, pursuant to which the Department provided an additional subgrant of$2,000,000 to Recipient under the Neighborhood Stabilization Program ("NSP") as set forth in the Agreement, for a total of$9,305,268.00; WHEREAS,pursuant to the provisions of Chapter 2011-142, Laws of Florida, the DCA Division of Housing and Community Development was transferred to the Department of Economic Opportunity effective October 1, 2011; and the parties wish to reflect the new name; WHEREAS,the Department and the Recipient entered into Modification No. 3 dated February 2, 2012, to the Agreement, pursuant to which the Department granted an extension to November 23, 2012; WHEREAS, the Department and the Recipient entered into Modification No. 4 dated November 20, 2012, to the Agreement, pursuant to which the Department granted an extension to February 15, 2013; WHEREAS,the Department and the Recipient desire to modify the Agreement, by extending the ending date to August 15, 2013. NOW, THEREFORE, in consideration of the mutual promises of the parties contained herein, the parties agree as follows: f Departm.,it of Economic Opportunity—Neighborhood Sta.,..Ization Program Modification to Subgrant Agreement 1/31/2013 Modification Number: 5 DEO/DCA Contract Number: IODB-4X-11-23-02-F16 Recipient: City of Miami Beach Page 2 Reinstate Agreement ?s ue a ono>-k 5—/1 12� 1. The Agreement is hereby reinstated as though it had not expired. ® Extend Agreement 2. Paragraph 3, Period of Agreement is hereby revised to reflect an ending date of August 15, 2013. ❑ Revise Activity Work Plan 3. The Attachment I, Activity Work Plan section of the Agreement is hereby deleted and is replaced by the revised Attachment 1, Activity Work Plan section 5, which is attached hereto and incorporated herein by reference. ❑ Revise Program Budget and Scope of Work 4. The Attachment A, Program Budget section of the Agreement is hereby deleted and is replaced by the revised Attachment A, the Program Budget, which is attached hereto and incorporated herein by reference. ❑ Change in Participating Parties 5. The Attachment A, Program Budget section, is hereby modified to delete all references to "(Type in name, if applicable.)," as the Participating Party, and replace them with "(Type in name, if applicable.)" as the Participating Party with the understanding that the Recipient and the new Participating Party will enter into a Participating Party Agreement containing provisions and caveats that meet or exceed the conditions agreed to in the Participating Party Agreement between the Recipient and the original Participating Party. ❑ Inclusion of an Unmet Need as Addressed in the Original Application 6. The Attachment A, Program Budget section of the Agreement is hereby deleted and is replaced by the revised Attachment A, the Program Budget, which is attached hereto and incorporated herein by reference. Departmeiit of Economic Opportunity—Neighborhood Stau.,,zation Program Modification to Subgrant Agreement 1/31/2013 Modification Number: 5 DEO/DCA Contract Number: IODB-4X-11-23-02-F16 Recipient: City of Miami Beach Page 3 7. The Attachment , Activity Work Plan section of the Agreement is hereby deleted and is replaced by the revised Attachment , Activity Work Plan section, which is attached hereto and incorporated herein by reference. ❑ Change in Number of Accomplishments and/or Beneficiaries 8. The Attachment A, Program Budget section of the Agreement is hereby deleted and is replaced by the revised Attachment A, the Program Budget, which is attached hereto and incorporated herein by reference. ❑ Other N/A All provisions of the Agreement and any attachments thereto in conflict with this Modification shall be and are hereby changed to conform to this Modification, effective as of the date of the execution of this Modification by both parties. All provisions not in conflict with this Modification remain in full force and effect, and are to be performed at the level specified in the Agreement. IN WITNESS WHEREOF, the parties hereto have executed this document as of the dates set herein. Department of Economic Opportunity Recipient: City of Miami Beach By: By: Z'A/ A �Yo Name: Ken Reecy Name: Matti H. Bower Title: Assistant Director Title: Mayor Division of Community Development Date: 2-13-13 Date: (L $ 1)3 FORM & LANGUAGE &FOR EXECUTION r I I O c •p = O O ( C ao (()/) w Nw O 0 N r0-. 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