State Revolving Fund Amendment 1 to Loan Agreement SW131300 DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8 („, 29 O,,
STATE REVOLVING FUND
AMENDMENT 1 TO LOAN AGREEMENT SW131300
CITY OF MIAMI BEACH
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF MIAMI BEACH,
FLORIDA, (Local Government) existing as a local governmental entity under the laws of the
State of Florida. Collectively, the Department and the Local Government shall be referred to as
"Parties" or individually as "Party".
The Department and the Local Government entered into a State Revolving Fund Loan
Agreement,Number SW131300, authorizing a Loan amount of$7,500,000, excluding
Capitalized Interest; and
The Loan Amount, Semiannual Loan Payment amount, Loan Service Fee, and Project costs need
adjustment to reflect actual costs; and
Certain provisions of the Agreement need to be revised.
The Parties hereto agree as follows:
1. The total amount awarded is reduced by $987. The revised total amount awarded is
$7,499,013.
•
2. The Loan Service Fee is reduced by $20, and the adjusted total service fee, rounded
to the nearest dollar,for this Loan is $149,980. The fee represents two percent of the Loan
amount excluding Capitalized Interest; that is,two percent of$7,499,013.
3. The total,amount of the Loan is $7,697,179.94,which consists of$7,499,013.00
disbursed to the Local Government, $48,186.94 of accrued Capitalized Interest and $149,980.00
of service fee charges.
4. The total amount remaining to repay,which amount accounts for the Department's
receipt of 6 Semiannual Loan Payments is $6,592,327.64, consisting of unpaid principal of the
Loan of$6,442,347.64 and an unpaid service fee charge of$149,980.00 both at a Financing Rate
of 1.62 percent per annum (the interest rate is 0.81 percent per annum, and the Grant Allocation
Assessment rate is 0.81 percent per annum).
5. The Semiannual Loan Payment amount, adjusted to account for repayments received
to date, is hereby revised and shall be in the amount of$222,579.54. Such payments shall be
received by the Department on February 15, 2021 and semiannually thereafter on August 15 and
February 15 of each year until all amounts due hereunder have been fully paid.
6. Section 2:03 of the Agreement is deleted and replaced as follows:
1
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State Resources Awarded to the Local Government Pursuant to this Agreement Consist of the
Following Resources Subject to Section 215.97,F.S.:
State CSFA Title or State
Program CSFA Fund Source Funding Appropriation
Number Funding Source Number Description Amount Category
Wastewater Wastewater
Original Treatment and Treatment
Agreement Stormwater X7.077 Facility $7,499,013 140131
Management TF Construction
(2) Audits.
(a) In the event that the Local Government expends a total amount of state financial
assistance equal to or in excess of$750,000 in any fiscal year of such Local Government,the
Local Government must have a State single audit for such fiscal year in accordance with Section
215.97, Florida Statutes; applicable rules of the Department of Financial Services; and Chapters
10.550 (local governmental entities) or 10.650 (nonprofit and for-profit organizations), Rules of
the Auditor General. In determining the state financial assistance expended in its fiscal year, the
Local Government shall consider all sources of state financial assistance, including state
fmancial assistance received from the Department, other state agencies, and other nonstate
entities. State financial assistance does not include Federal direct or pass-through awards and
resources received by a nonstate entity for Federal program matching requirements.
(b) In connection with the audit requirements addressed in the preceding paragraph(a);
the Local Government shall ensure that the audit complies with the requirements of Section
215.97(7), Florida Statutes. This includes submission of a financial reporting package as defined
by Section 215.97(2), Florida Statutes, and Chapters 10.550 (local governmental entities) or
10.650 (nonprofit and for-profit organizations), Rules of the Auditor General.
(c) If the Local Government expends less than $750,000 in state financial assistance in
its fiscal year, an audit conducted in accordance with the provisions of Section 215.97, Florida
Statutes, is not required. The.Local Government shall inform the Department of findings and
recommendations pertaining to the State Revolving Fund in audits conducted by the Local
Government in which the $750,000 threshold has not been met. In the event that the Local
Government expends less than $750,000 in state financial assistance in its fiscal year, and elects
to have an audit conducted in accordance with the provisions of Section 215.97, Florida Statutes,
the cost of the audit must be paid from the non-state entity's resources (i.e., the cost of such an
audit must be paid from m the Local Government's resources obtained from other than State
entities).
(d) The Local Government is hereby advised that the Florida Single Audit Act
Requirements may further apply to lower tier transactions that may be a result of this Agreement.
For information regarding the Florida Catalog of State Financial Assistance(CSFA), a Local
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
Government should access the Florida Single Audit Act website located at
https://apps.fldfs.com/fsaa for assistance.
(3) Report Submission.
(a). Copies of financial reporting packages shall be submitted by or on behalf of the
Local Government directly to each of the following:
(i) The Department at one of the following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General, MS 40
3900 Commonwealth Boulevard,
Tallahassee, Florida 32399-3123
or
Electronically:
FDEPSingleAudit@dep.state.fl.us
(ii) The Auditor General's Office at the following address:
State of Florida Auditor General
Room 401, Claude Pepper Building
111 West Madison Street
Tallahassee, Florida 32399-1450
(iii) Copies of reports or management letters shall be submitted by or on behalf of the
Local Government directly to the Department at either of the following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection •
Office of the Inspector General
3900 Commonwealth Boulevard,MS 40
Tallahassee, Florida 32399-3123
or
Electronically:
FDEPSingleAudit@dep.state.fl.us
(b) Any reports, management letters, or other information required to be submitted to the
Department pursuant to this Agreement shall be submitted timely in accordance with Florida
Statutes, or Chapters 10.550 (local governmental entities) or 10.650 (nonprofit and for-profit
organizations), Rules of the Auditor General, as applicable.
3
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
(c) Local Governments,when submitting financial reporting packages to the Department
for audits done in accordance with Chapters 10.550 (local governmental entities) or 10.650
(nonprofit and for-profit organizations),Rules of the Auditor General, should indicate the date
that the reporting package was received by the Local Government from their auditors in
correspondence accompanying the reporting package.
(4) Record Retention.
The Local Government shall retain sufficient records demonstrating its compliance with
the terms of this Agreement for a period of five years from the date of the Final Amendment, and
shall allow the Department, or its designee, Chief Financial Officer, or Auditor General access to
such records upon request. The Local Government shall ensure that working papers are made
available to the Department, or its designee,Chief Financial Officer, or Auditor General upon
request for a period of five years from the date of the Final Amendment,unless extended in
writing by the Department.
(5) Monitoring.
In addition to reviews of audits conducted in accordance with Section 215.97, F.S., as
revised monitoring procedures may include, but not be limited to, on-site visits by Department
staff and/or other procedures. By entering into this Agreement, the Local Government agrees to
comply and cooperate with any monitoring procedures/processes deemed appropriate by the
Department. In the event the Department determines that a limited scope audit of the Local
Government is appropriate,the Local Government agrees to comply with any additional
instructions provided by the Department to the Local Government regarding such audit. The
Local Government understands its duty,pursuant to Section 20.055(5),F.S., to cooperate with
the Inspector General in any investigation, audit, inspection, review, or hearing.
7. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs
may occur as a result of an audit. Unless this Agreement is amended subsequent to an audit, the
following Project disbursements shall be final.
CATEGORY PROJECT COSTS ($)
Planning (Disbursable Amount) 7,499,013.00
Capitalized Interest 48,186.94
TOTAL (Loan Principal Amount) 7,547,199.94
8. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
4
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
This Amendment 1 to Loan Agreement SW131300 may be executed in two or more
counterparts,any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan
Agreement to be executed on its behalf by the Secretary or Designee and the Local Government
has caused this amendment to be executed on its behalf by its Authorized Representative and by
its affixed seal. The effective date of this amendment shall be as set forth below by the
Department.
for
CITY OF MIAMI BEACH
�111 DocuSigned by;
yNwt4 /lurks 11/24/2020 111:54 AM EST
2BCA1 194070496
City Manager
Attest: Approved as to form and legal sufficiency:
—DocuSigned by:
Nita Graaele
(Ira"
Cu, I 1 I _Zv
\-3ACEE4E3957340E...
City Clerk City Attorney tio---
SEAL
uu
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CCN 26
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Secretary or Designee Date
5
Granado, Rafael
From: Chamberlin,Adrian
Sent: Thursday, November 19, 2020 4:13 PM
To: D'Agostin, Charles
Cc: Granado, Rafael
Subject: Reappointment of Paul Stein to Parks & Rec
Hi Chuck,
The Mayor would like to reappoint Paul Stein as his direct appointment to the Parks& Rec committee.
Best,
MIAMIBEACH
Adrian Chamberlin
Aide to Mayor Dan Gelber
OFFICE OF THE MAYOR AND COMMISSION
1700 Convention Center Drive,4th floor, Miami Beach, FL 33139
Tel: 305-673-7000 ext. 26292/786-914-5306 (cell)/www.miamibeachfl.gov/AdrianChamberlin@miamibeachfl.gov
We are committed to providing excellent public service and safety to all who live, work and play in our vibrant, tropical, historic
community.
1
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
This Amendment 1 to Loan Agreement SW131300 may be executed in two or more
counterparts, any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan
Agreement to be executed on its behalf by the Secretary or Designee and the Local Government
has caused this amendment to be executed on its behalf by its Authorized Representative and by
its affixed seal. The effective date of this amendment shall be as set forth below by the
Department.
for
CITY OF MIAMI BEACH
EiDocuSignnedby: /-�,-
iWINI �.brattxS1/24/2020 I 11:54 AM EST
2RCA1194mn496
City Manager
Attest: Approved as to form and legal sufficiency:
Cla Cu/ II — 1 /8-----w
City Clerk City Attorney _AO'
SEAL
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Secretary or Designee Date
5
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
Calculation of Semiannual Payment for Remaining Years
Sponsor: Miami Beach Funding Number: 131300
Beginning of Repayment Period: 08/15/2017 Payments Remaining: 34
Original Loan Combined Rate: 1.62
Date Balance Disbursement Comb. Int Total Owed Present Payment
Forward Or Serv. Fee At At Value* At Amount
02/15/2021 02/15/2021 08/15/2020
08/15/2020 6,442,347.64 0.00 52,183.02 6,494,530.66
10/21/2020 0.00 149,980.00 778.83 150,75 8.83
Totals: 6,645,289.48 6;591,895.14 222,579.54
Totals: 6,645,289.48 6,591,895.14 222,579.54
*Present value is the total owed divided by(1+(Combined interest rate)/2)
The Payment Amount is computed using the present value.
Wed,21 Oct 2020 11:17 Page 1 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt.All.Assmt. Principal Paid Total to Pay*
08/15/2017 0.00 0.00 0.00 0.00 0.00 0.00 5,280,338.94
02/15/2018 1 229,001.00 0.00 0.00 20,132.97 20,132.97 188,735.06 5,091,603.88
08/15/2018 2 229,001.00 0.00 0.00 21,075.13 21,075.13 186,850.74 5,879,218.14
02/15/2019 3 229,001.00 0.00 0.00 23,810.83 23,810.83 181,379.34 5,697,838.80
08/15/2019 4 229,001.00 0.00 0.00 23,076.25 23,076.25 182,848.50 5,514,990.30
02/15/2020 5 229,001.00 0.00 0.00 22,335.71 22,335.71 184,329.58. 5,330,660.72
08/15/2020 6 229,001.00 0.00 0.00 24,145.96 24,145.96 180,709.08 6,442,347.64
02/15/2021 7 222,579.54 149,980.00 778.83 26,091.51 26,091.51 19,637.69 6,422,709.95
08/15/2021 8 222,579.54 0.00 0.00 26,011.98 26,011.98 170,555.58 6,252,154.37
02/15/2022 9 222,579.54 0:00 0.00 25,321.23 25,321.23 171,937.08 6,080,217.29
08/15/2022 10 222,579.54 0.00 0.00 24,624.88 24,624.88 173,329.78 5,906,887.51
02/15/2023 11 222,579.54 0.00 0.00 23,922.89 23,922.89 174,733.76 5,732,153.75
08/15/2023 12 222,579.54 0.00 0.00 23,215.22 23,215.22 176,149.10 5,556,004.65
02/15/2024 13 222,579.54 0.00 0.00 22,501.82 22,501.82 177,575.90 5,378,428.75
08/15/2024 14 222,579.54 0.00 0.00 21,782.64 21,782.64 179,014.26 5,199,414.49
Wed,21 Oct 2020 11:17 Page 2 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule.***
Sponsor: Miami Beach Funding Number: 131300.
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt.All. Assmt. Principal Paid Total to Pay*
02/15/2025 15 222,579.54 0.00 0.00 21,057.63 21,057.63 180,46428 5,018,950.21
08/15/2025 16 222,579.54 0.00 0.00 20,326.75 20,326.75 181,926.04 4,837,024.17
02/1.5/2026 17 222,5.79.54 0.00 0.00 19,589.95 19,589.95 183,399.64 4,653,624.53
08/15/2026 18 222,579.54 0.00 0.00 18,847.18 18,847.18 184,885.18 4,468,739.35
02/15/2027 19 222,579.54 0.00 0.00 18,098.39 18,098.39 186,382.76 4,282,356.59
08/15/2027 20 222,579.54 0.00 0.00 17,343.54 17,343.54 187,892.46 4,094,464.13
02/15/2028 21 222,579.54 0.00 0.00 16,582.58 16,582.58 189;414.38 3,905,049.75
08/15/2028 22 222,579.54 0.00 0.00 15,815.45 15,815.45 190,948.64 3,714,101.11
02/15/2029 23 222,579.54 0.00 0.00 15,042.11 15,042.11 192,495.32 3,521,605.79
08/15/2029 24 222,579.54 0.00 0.00 14,262.50 14,262.50 194,054.54 3,327,551.25
02/15/2030 25 222,579.54 0.00 0.00 13,476.58 13,476.58 195,626.38 3,131,924.87
08/15/2030 26 222,579.54 0.00 0.00 12,684.30 12,684.30 197,210.94 2,934,713.93
02/15/2031 27 222,579.54 0.00 0.00 11,885.59 11,885.59 198,808.36 2,735,905.57
08/15/2031 28 222,579.54 0.00 0.00 11,080.42 11,080.42 200,418.70 2,535,486.87
02/15/2032 29 222,579.54 0.00 0.00 10,268.72 10,268.72 202,042.10 2,333,444.77
Wed,21 Oct 2020 11:17 Page 3 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule ***
Sponsor: Miami Beach Funding Number: 131300
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
08/15/2032 30 222,579.54 0.00 0.00 9,450.45 9,450.45 203,678.64 2,129,766.13
02/15/2033 31 222,579.54 0.00 0.00 8,625.55 8,625.55 205,328.44 1,924,437.69
08/15/2033 32 222,579.54 0.00 0.00 7,793.97 7,793.97 206,991.60 1,717,446.09
02/15/2034 33 222,579.54 0.00 0.00 6,955.66 6,955.66 208,668.22 1,508,777.87
08/15/2034 34 222,579.54 0.00 0.00 6,110.55 6,110.55 210,358.44 1,298,419.43
02/15/2035 35 222,579.54 0.00 0.00 5,258.60 5,258.60 212,062.34 1,086,357.09
08/15/2035 36 222,579.54 0.00 0.00 4,399.75 4,399.75 213,780.04 872,577:05
02/15/2036 37 222,579.54 0.00 0.00 3,533.94 3,533.94 215,511.66 657,065.39
08/15/2036 38 222,579.54 0.00 0.00 2,661.11 2,661.11 217,257.32 439,808.07
02/15/2037 39 222,579.54 0.00 0.00 1,781.22 1,781.22 219,017.10 220,790.97
08/15/2037 40 222,579.37 0.00 0.00 894.20 894.20 220,790.97 0.00
Subtotals: 8,941,710.19 149,980.00 778.83 621,875.71 621,875.71 7,547,199.94
*Total to pay may reflect activity during repayment term
Wed,21 Oct 2020 11:17 Page 4 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
All Increments Combined
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
08/15/2017 0.00 0.00 0.00 0.00 0.00 0.00 5,280,338.94
02/15/2018 1 229,001.00 0.00 0.00 20,132.97 20,132.97 188,735.06 5,091,603.88
08/15/2018 2 229,001.00 0.00 0.00 21,075.13 21,075.13 186,850.74 5,879,218.14
02/15/2019 3 229,001.00 0.00 0.00 23,810.83 23,810.83 181,379.34 5,697,838.80
08/15/2019 4 229,001.00 0.00 0.00 23,076.25 23,076.25 182,848.50 5,514,990.30
02/15/2020 5 229,001.00 0.00 0.00 22,335.71 22,335.71 184,329.58 5,330,660.72
08/15/2020 6 229,001.00 0.00 0.00 24,145.96 24,145.96 180,709.08 6,442,347.64
02/15/2021 7 222,579.54 149,980.00 778.83 26,091.51 26,091.51 19,637.69 6,422,709.95
08/15/2021 8 222,579.54 0.00 0.00 26,011.98 26,011.98 170,555.58 6,252,154.37
02/15/2022 9 222,579.54 0.00 0.00 25,321.23 25,321.23 171,937.08 6,080,217.29
08/15/2022 10 222,579.54 0.00 0.00 24,624.88 24,624.88 173,329.78 5,906,887.51
02/15/2023 11 222,579.54 0.00 0.00 23,922.89 23,922.89 174,733.76. 5,732,153.75
08/15/2023 12 222,579.54 0.00 0.00 23,215.22 23,215.22 176,149.10 5,556,004.65
02/15/2024 13 222,579.54 0.00 0.00 22,501.82 22,501.82 177,575.90 5,378,428.75
08/15/2024 14 222,579.54 0.00 0.00 21,782.64 21,782.64 179,014.26 .5,199,414.49
Wed,21 Oct 2020 11:17 Page 5 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
All Increments Combined
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
02/15/2025 15 222,579.54 0.00 0.00 21,057.63 21,057.63 180,464.28 5,018,950.21
08/15/2025 16 222,579.54 0.00 0.00 20,326.75 20,326.75 181,926.04 4,837,024.17
02/15/2026 17 222,579.54 0.00 0.00 19,589.95 19,589.95 183,399.64 4,653,624.53
08/15/2026 18 222,579.54 0.00 0.00 18,847.18 18,847.18 184,885.18 4,468,739.35
02/15/2027 19 222,579.54 0.00 0.00 18,098.39 184098.39 186,382.76 4,282,356.59
08/15/2027 20 222,579.54 0.00 0.00 17,343.54 17,343.54 187,892.46 4,094,464.13
02/15/2028 21 222,579.54 0.00 0.00 16,582.58 16,582.58 189,414.38 3,905,049.75
08/15/2028 22 . 222,579.54 0.00 0.00 15,815.45 15,815.45 190,948.64 3,714,101.11
02/15/2029 23 222,579.54 0.00 0.00 15,042.11 15,042.11 192,495.32 3,521,605.79
08/15/2029 24 222,579.54 0.00 0.00 14,262.50 14,262.50 194,054.54 3,327,551.25
02/15/2030 25 222,579.54 0.00 0.00 13,476.58 13,476.58 195,626.38 3,131,924.87
08/15/2030 26 222,579.54 0.00 0.00 12,684.30 . 12,684.30 197,210.94 2,934,713.93
02/15/2031 27 222,579.54 0.00 0.00 11,885.59 11,885.59 198,808.36 2,735,905.57
08/15/2031 28 222,579.54 0.00 0.00 11,080.42 11,080.42 200,418.70 2,535,486.87
02/15/2032 29 222,579.54 0.00 0.00 10,268.72 10,268.72 202,042.10 2,333,444.77
Wed,21 Oct 2020 11:17 Page 6 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor:Miami Beach Funding Number: 131300
All Increments Combined
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt.All. Assmt. Principal Paid Total to Pay*
08/15/2032 30 222,579.54. 0.00 0.00 9,450.45 9,450.45 203,678.64 2,129,766.13
02/15/2033 31 222,579.54 0.00 0.00 8,625.55 8,625.55 205,328.44 1,924,437.69
08/15/2033 32 222,579.54 0.00 0.00 7,793.97 7,793.97 206,991.60 1,717,446.09
02/15/2034 33 222,579.54 0.00 0.00 6,955.66 6,955.66 208,668.22 1,508,777.87
08/15/2034 34 222,579.54 0.00 0.00 6,110.55 6,110.55 210,358.44 1,298,419.43
02/15/2035 35 222,579.54 0.00 0.00 5,258.60 5,258.60 212,062.34 1,086,357.09
08/15/2035 36 222,579.54 0.00 0.00 4,399.75 4,399.75 213,780.04 872,577.05
02/15/2036 37 222,579.54 0.00 0.00 3,533.94 3,533.94 215,511.66 657,065.39
08/15/2036 38 222,579.54 0.00 0.00 2,661.11 2,661.11 217,257.32 439,808.07
02/15/2037 39 222,579.54 0.00 0.00 1,781.22 1,781.22 219,017.10 220,790.97
08/15/2037 40 222,579.37 0.00 0.00 894.20 894.20 220,790.97 0.00
Totals: 8,941,710.19 149,980.00 778.83 621,875.71 621,875.71 7,547,199.94
*Total to pay may reflect activity during repayment term
Wed,21 Oct 2020 11:17 Page 7 of 7
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
STATE E REVOLVING FUND
AMENDMENT 1 TO LOAN AGREEMENT SW131300
CITY OF MIAMI BEACH
This amendment is executed by the STATE OF FLORIDA DEPARTMENT OF
ENVIRONMENTAL PROTECTION (Department) and the CITY OF MIAMI BEACH,
FLORIDA, (Local Government) existing as a local governmental entity under the laws of the
State of Florida. Collectively, the Department and the Local Government shall be referred to as
"Parties" or individually as "Party".
The Department and the Local Government entered into a State Revolving Fund Loan
Agreement,Number SW131300, authorizing a Loan amount of$7,500,000, excluding
Capitalized Interest; and
The Loan Amount, Semiannual Loan Payment amount, Loan Service Fee, and Project costs need
adjustment to reflect actual costs; and
Certain provisions of the Agreement need to be revised.
The Parties hereto agree as follows:
1. The total amount awarded is reduced by$987. The revised total amount awarded is
$7,499,013.
2. The Loan Service Fee is reduced by $20, and the adjusted total service fee, rounded
to the nearest dollar,for this Loan is $149,980. The fee represents two percent of the Loan
amount excluding Capitalized Interest; that is, two percent of$7,499,013.
3. The total amount of the Loan is $7,697,179.94,which consists of$7,499,013.00
disbursed to the Local Government, $48,186.94 of accrued Capitalized Interest and $149,980.00
of service fee charges.
4. The total amount remaining to repay,which amount accounts for the Department's
receipt of 6 Semiannual Loan Payments is $6,592,327.64, consisting of unpaid principal of the
Loan of$6,442,347.64 and an unpaid service fee charge of$149,980.00 both at a Financing Rate
of 1.62 percent per annum (the interest rate is 0.81 percent per annum, and the Grant Allocation
Assessment rate is 0.81 percent per annum).
5.. The Semiannual Loan Payment amount, adjusted to account for repayments received
to date, is hereby revised and shall be in the amount of$222,579.54. Such payments shall be
received by the Department on February 15, 2021 and semiannually thereafter on August 15 and
February 15 of each year until all amounts due hereunder have been fully paid.
6. Section 2.03 of the Agreement is deleted and replaced as follows:
1
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
State.Resources Awarded to the Local Government Pursuant to this Agreement Consist of the
Following Resources Subject to Section 215.97, F.S.:
State CSFA Title or State
Program CSFA Fund Source Funding Appropriation
Number Funding Source Number Description Amount Category
Wastewater Wastewater
Original Treatment and Treatment
Agreement Stormwater 37.077 Facility $7,499,013 140131
Management TF Construction
(2) Audits.
(a) In the event that the Local Government expends a total amount of state financial
assistance equal to or in excess of$750,000 in any fiscal year of such Local Government,the
Local Government must have a State single audit for such fiscal year in accordance with Section
215.97, Florida Statutes; applicable rules of the Department of Financial Services; and Chapters
10.550 (local governmental entities) or 10.650 (nonprofit and for-profit organizations), Rules of
the Auditor General. In determining the state financial assistance expended in its fiscal year, the
Local Government shall consider all sources of state financial assistance, including state
financial assistance received from the Department, other state agencies, and other nonstate
entities. State financial assistance does not include Federal direct or pass-through awards and
resources received by a nonstate entity for Federal program matching requirements.
(b) In connection with the audit requirements addressed in the preceding paragraph(a);
the Local Government shall ensure that the audit complies with the requirements of Section
215.97(7), Florida Statutes. This includes submission of a financial reporting package as defined
by Section 215.97(2), Florida Statutes, and Chapters 10.550 (local governmental entities) or
10.650 (nonprofit and for-profit organizations), Rules of the Auditor General.
(c) If the Local Government expends less than$750,000 in state financial assistance in
its fiscal year, an audit conducted in accordance with the provisions of Section 215.97, Florida
Statutes, is not required. The Local Government shall inform the Department of findings and
recommendations pertaining to the State Revolving Fund in audits conducted by the Local
Government in which the $750,000 threshold has not been met. In the event that the Local
Government expends less than $750,000 in state financial assistance in its fiscal year, and elects
to have an audit conducted in accordance with the provisions of Section 215.97, Florida Statutes,
the cost of the audit must be paid from the non-state entity's resources (i.e., the cost of such an
audit must be paid from the Local Government's resources obtained from other than State
entities).
(d) The Local Government is hereby advised that the Florida Single Audit Act
Requirements may further apply to lower tier transactions that may be a result of this Agreement.
For information regarding the Florida Catalog of State Financial Assistance (CSFA), a Local
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
Government should access the Florida Single Audit Act website located at
https://apps.fldfs.com/fsaa for assistance.
(3) Report Submission.
(a) Copies of financial reporting packages shall be submitted by or on behalf,of the
Local Government directly to each of the following:
(i) The Department at one of the following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General,MS 40
3900 Commonwealth Boulevard,
Tallahassee, Florida 32399-3123
or
Electronically:
FDEPSingleAudit(a dep.state.fl.us
(ii) The Auditor General's Office at the following address:
State of Florida Auditor General
Room 401, Claude Pepper Building
111 West.Madison Street
Tallahassee, Florida 32399-1450 •
(iii) Copies of reports or management letters shall be submitted by or on behalf of the
Local Government directly to the Department at either of the following addresses:
By Mail:
Audit Director
Florida Department of Environmental Protection
Office of the Inspector General
3900 Commonwealth Boulevard,MS 40
Tallahassee, Florida 32399-3123
or
Electronically:
FDEPSingleAudit@dep.state.fl.us
(b) Any reports, management letters, or other information required to be submitted to the.
Department pursuant to this Agreement shall be submitted timely in accordance with Florida
Statutes, or Chapters 10.550 (local governmental entities) or 10.650 (nonprofit and for-profit
organizations), Rules of the Auditor General, as applicable.
3
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
(c) Local Governments,when submitting financial reporting packages to the Department
for audits done in accordance with Chapters 10.550 (local governmental entities) or 10.650
(nonprofit and for-profit organizations), Rules of the Auditor General, should indicate the date
that the reporting package was received by the Local Government from their auditors in
correspondence accompanying the reporting package.
(4) Record Retention.
The Local Government shall retain sufficient records demonstrating its compliance with
the terms of this Agreement for a period of five years from the date of the Final Amendment, and
shall allow the Department, or its designee, Chief Financial Officer, or Auditor General access to
such records upon request The Local Government shall ensure that working papers are made
available to the Department, or its designee, Chief Financial Officer, or Auditor General upon
request for a period of five years from the date of the Final Amendment, unless extended in
writing by the Department.
(5) Monitoring.
In addition to reviews of audits conducted in accordance with Section 215.97, F.S., as
revised monitoring procedures may include, but not be limited to, on-site visits by Department
staff and/or other procedures. By entering into this Agreement, the Local Government agrees to
comply and cooperate with any monitoring procedures/processes deemed appropriate by the
Department. In the event the Department determines that a limited scope audit of the Local
Government is appropriate, the Local Government agrees to comply with any additional
instructions provided by the Department to the Local Government regarding such audit. The
Local Government understands its duty, pursuant to Section 20.055(5), F.S., to cooperate with
the Inspector General in any investigation, audit, inspection,review, or hearing.
7. Project Costs are revised as follows:
The Local Government and the Department acknowledge that changes in Project costs
may occur as a result of an audit. Unless this Agreement is amended subsequent to an audit, the
following Project disbursements shall be final.
CATEGORY PROJECT COSTS ($)
Planning (Disbursable Amount) 7,499,013.00
Capitalized Interest 48,186.94
TOTAL (Loan Principal Amount) 7,547,199.94
8. All other terms and provisions of the Loan Agreement shall remain in effect.
REMAINDER OF PAGE INTENTIONALLY LEFT BLANK
4
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
This Amendment 1 to Loan Agreement SW131300 may be executed in two or more
counterparts, any of which shall be regarded as an original and all of which constitute but one
and the same instrument.
IN WITNESS WHEREOF,the Department has caused this amendment to the Loan
Agreement to be executed on its behalf by the Secretary or Designee and the Local Government
has caused this amendment to be executed on its behalf by its Authorized Representative and by
its affixed seal. The effective date of this amendment shall be as set forth below by the
Department.
for
CITYOF MIAMI BEACH
EiDocuSigned by:
i-yo N kbratts 11/24/2020 I 11:54 AM EST
78cA1888194070496
City Manager
Attest: Approved as to form and legal sufficiency:
DocuSigned by:
L3ACEE4E3SS734OE .
arav -' l
City Clerk City Attorney itii_r-
SEAL
for
STATE OF FLORIDA
DEPARTMENT OF ENVIRONMENTAL PROTECTION
Secretary or Designee Date
5
DocuSign Envelope ID:68236B66-EEB4-4A70-A6E5-FC2007D29BC8
Calculation of Semiannual Payment for Remaining Years
Sponsor: Miami Beach Funding Number: 131300
Beginning of Repayment Period: 08/15/2017 Payments Remaining: 34
Original Loan Combined Rate: 1.62
Date Balance Disbursement Comb.Int Total Owed Present Payment
Forward Or Serv. Fee At At Value* At Amount
02/15/2021 02/15/2021 08/15/2020
08/15/2020 6,442,347.64 0.00 52,183.02 6,494,530.66
10/21/2020 0.00 149,980.00 778.83 150,758.83.
Totals: 6,645,289.48 6,591,895.14 222,579.54
Totals: 6,645,289.48 6,591,895.14 222,579.54
*Present value is the total owed divided by(1+(Combined interest rate)/2)
The Payment Amount is computed using the present value.
Wed,21 Oct 2020 11:17 Page 1 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt.All.Assmt. Principal Paid Total to Pay*
08/15/2017 0.00 0.00 0.00 0.00 0.00 0.00 5,280,338.94
02/15/2018 1 229,001.00 0.00 0.00 20,132.97 20,132.97 188,735.06 5,091,603.88
08/15/2018 2 229,001.00 0.00 0.00 21,075.13 21,075.13 186,850.74 5,879,218.14
02/15/2019 3 229,001.00 0.00 0.00 23,810.83 23,810.83 181,379.34 5,697,838.80
08/15/2019 4 229,001.00 0.00 0.00 23,076.25 23,076.25 182,848.50 5,514,990.30
02/15/2020 5 229,001.00 0.00 0.00 22,335.71 22,335.71 184,329.58 5,330,660.72
08/15/2020 6 229,001.00 0.00 0.00 24,145.96 24,145.96 180,709.08 6,442,347.64
02/15/2021 7 222,579.54 149,980.00 778.83 26,091.51 26,091.51 19,637.69 6,422,709.95
08/I5/2021 8 222,579.54 0.00 0.00 26,011.98 26,011.98 170,555.58 6,252,154.37
02/15/2022 9 222,579.54 0.00 0.00 25,321.23 25,321.23 171,937.08 6,080,217.29
08/15/2022 10 222,579.54 0.00 0.00 24,624.88 24,624.88 173,329.78 5,906,887.51
02/15/2023 11 222,579.54 0.00 0.00 23,922.89 23,922.89 174,733.76 5,732,153.75
08/15/2023 12 222,579.54 0.00 0.00 23,215.22 23,215.22 176,149.10 5,556,004.65
02/15/2024 13 222,579.54 0.00 0.00 22,501.82 22,501.82 177,575.90 5,378,428.75
08/15/2024 14 222,579.54 0.00 0.00 21,782.64 21,782.64 179,014.26 5,199,414.49
Wed,21 Oct 2020 11:17 Page 2 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt.All. Assmt. Principal Paid Total to Pay*
02/15/2025 15 222,579.54 0.00 0.00 21,057.63 21,057.63 180,464.28 5,018,950.21
08/15/2025 16 222,579.54 0.00. 0.00 20,326.75 20,326.75 181,926.04 4,837,024.17
02/15/2026 17 222,579.54 0.00 0.00 19,589.95 19,589.95 183,399.64 4,653,624.53
08/15/2026 18 222,579.54 0.00 0.00 18,847.18 18,847.18 184,885.18 4,468,739.35
02/15/2027 19 222,579.54 0.00 0.00 18,098.39 18,098.39 186,382.76 4,282,356.59
08/15/2027 20 222,579.54 0.00 0.00 17,343.54 17,343.54 187,892.46 4,094,464.13
02/15/2028 21 222,579.54 0.00 0.00 16,582.58 16,582.58 189,414.38 3,905,049.75
08/15/2028 22 222,579.54 0.00 0.00 15,815.45 15,815.45 190,948:64 3,714,101.11
02/15/2029 23 222,579.54 0.00 0.00 15,042.11 15,042.11 192,495.32 3,521,605.79
08/15/2029 24 222,579.54 0.00 0.00 14,262.50 14,262.50 194,054.54 3,327,551.25
02/15/2030 25 222,579.54 0.00 0.00 13,476.58 13,476.58 1.95,626.38 3,131,924.87
08/15/2030 26 222,579.54 0.00 0.00 12,684.30 12,684.30 197,210.94 2,934,713.93
02/15/2031 27 222,579.54 0.00 0.00 11,885.59 11,885.59 198,808.36 2,735,905.57
08/15/2031 28 222,579.54 0.00 0.00 11,080.42 11,080.42 200,418.70 2,535,486.87
02/15/2032 29 222,579.54 0.00 0.00 10,268.72 10,268.72 202,042.10 2,333,444.77
Wed,21 Oct 2020 11:17 Page 3 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule ***
Sponsor: Miami Beach Funding Number: 131300
Original Loan Interest: .81 GAA Rate: .81
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
08/15/2032 30 222,579.54 0.00 0.00 9,450.45 9,450.45 203,678.64 2,129,766.13
02/15/2033 31 222,579.54 0.00 0.00 8,625.55 8,625.55 205,328.44 1,924,437.69
08/15/2033 32 222,579.54 0.00 0.00 7,793.97 7,793.97 206,991.60 1,717,446.09
02/15/2034 33 222,579.54 .0.00 0.00 6,955.66 6,955.66 208,668.22 1,508,777.87
08/15/2034 34 222,579.54 0.00 0.00 6,110.55 6,110.55 210,358.44 1,298,419.43
02/15/2035 35 222,579.54 0.00 0.00 5,258.60 5,258.60 212,062.34 1,086,357.09
08/15/2035 36 222,579.54 0.00 0.00 4,399.75 4,399.75 213,780.04 872,577.05
02/15/2036 3.7 222,579.54 0.00 0.00 3,533.94 3,533.94 215,511.66 657,065.39
08/15/2036 38 222,579.54 0.00 0.00 2,661.11 2,661.11 217,257.32 439,808.07
02/15/2037 39 222,579.54 0.00 0.00 1,781.22 1,781.22 219,017.10 220,790.97
08/15/2037 40 222,579.37 0.00 0.00 894.20 894.20 220,790.97 0.00
Subtotals: 8,941,710.19 149,980.00 778.83 621,875.71 621,875.71 7,547,1.99.94
*Total to pay may reflect activity during repayment term
Wed,21 Oct 2020 11:17 Page 4 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
All Increments Combined
Pint. Serv.Fee SF
Date No. Payment Paid Interest Interest Grt.All.Assmt. Principal Paid Total to Pay*
08/15/2017 0.00 0.00 0.00 0.00 0.00 0.00 5,280,338.94
02/15/2018 1 229,001.00 0.00 0.00 20,132.97 20,132.97 188,735.06 5,091,603.88
08/15/2018 2 229,001.00 0.00 0.00 21,075.13 21,075.13 186,850.74 5,879,218.14
02/15/2019 3 229,001.00 0.00 0.00 23,810.83 23,810.83 181,379.34 5,697,838.80
08/15/2019 4 229,001.00 0.00 0.00 23,076.25 23,076.25 182,848.50 5,514,990.30
02/15/2020 5 229,001.00 0.00 0.00 22,335.71 22,335.71 184,329.58 5,330,660.72
08/15/2020 6 229,001.00 0.00 0.00 24,145.96 24,145.96 180,709.08 6,442,347.64
02/15/2021 7 222,579.54 149,980.00 778.83 26,091.51 26,091.51 19,637.69 6,422,709.95
08/15/2021 8 222,579.54 0.00 0.00 26,011.98 26,011.98 170,555.58 6,252,154.37
02/15/2022 9 222,579.54 0.00 0.00 25,321.23 25,321.23 171,937.08 6,080,217.29
08/15/2022 10 222,579.54 0.00 0.00 .24,624.88 24,624.88 173,329.78 5,906,887.51
02/15/2023 11 222,579.54 0.00 0.00 23,922.89 23,922.89 174,733.76 5,732,153.75
08/15/2023 12 222,579.54 0.00 0.00 23,215.22 23,215.22 176,149.10 5,556,004.65
02/15/2024 13 222,579.54 0.00 0.00 22,501.82 22,501.82 177,575.90 5,378,428.75
08/15/2024 14 222,579.54 0.00 0.00 21,782.64 21,782.64 179,014.26 5,199,414.49
Wed,21 Oct 2020 11:17 Page 5 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule***
Sponsor: Miami Beach Funding Number: 131300
All Increments Combined
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
02/15/2025 15 222,579.54 0.00 0:00 21,057.63 21,057.63 180,464.28 5,018,950.21
08/15/2025 16 222,579.54 0.00 0.00 20,326.75 20,326.75 181,926.04 4,837,024.17
02/15/2026 17 222,579.54 0.00 0.00 19,589.95 19,589.95 183,399.64 4,653,624.53
08/15/2026 18 222,579.54 0.00 0.00 18,847.18 18,847.18 184,885.18 4,468,73935
02/15/2027 19 222,579.54 0.00 0.00 18,098.39 18,098.39 186,382.76 4,282,356.59
08/15/2027 20 222,579.54 0.00 0.00 17,343.54 17,343.54 187,892.46 4,094,464.13
02/15/2028 21 222,579.54 0.00 0.00 16,582.58 16,582.58 189,414.38 3,905,049.75
08/15/2028 22 222,579.54 0.00 0.00 15,815.45 15,815.45 190,948.64 3,714,101.11
02/15/2029 23 222,579.54 0.00 0.00 15,042.11 15,042.11 192,495.32 3,521,605.79
08/15/2029 24 222,579.54 0.00 0.00 14,262.50 14,262.50 194,054.54 3,327,551.25
02/15/2030 25 222,579.54 0.00 0.00 13,476.58 13,476.58 195,626.38 3,131,924.87
08/15/2030 26 222,579.54 0.00 0.00 12,684.30 12,684.30 197,210.94 2,934,713.93
02/15/2031 27 222,579.54 0.00 0.00 11,885.59 11,885.59 198,808.36 2,735,905.57
08/15/2031 28 222,579.54 0.00 0.00 11,080.42 11,080.42 200,418.70 2,535,486.87
02/15/2032 29 222,579.54 0.00 0.00 10,268.72 1.0,268.72 202,042.10 2,333,444.77
Wed,21 Oct 2020 11:17 Page 6 of 7
State Revolving Fund Loan
*** Amortized Repayment Schedule ***
Sponsor: Miami Beach Funding Number: 131300
All.Increments Combined
Pmt. Serv. Fee SF
Date No. Payment Paid Interest Interest Grt. All.Assmt. Principal Paid Total to Pay*
08/15/2032 30 222,579.54 0.00 0.00 9,450.45 9,450.45 203,678.64 2,129,766.13
02/15/2033 31 222,579.54 0.00 0.00 8,625.55 8,625.55 205,328.44 1,924,437.69
08/15/2033 32 222,579.54 0.00 0.00 7,793.97 7,793.97 206,991.60 1,717,446.09
02/15/2034 33 222,579.54 0.00 0.00 6,955.66 6,955.66 208,668.22 1,508,777.87
08/15/2034 34 222,579.54 0.00 0.00 6,110.55 6,110.55 210,358.44 1,298,419.43
02/15/2035 35 222,579.54 0.00 0.00 5,258.60 5,258.60 212,062.34 1,086,357.09
08/15/2035 36 222,579.54 0.00 0.00 4,399.75 4,399.75 213,780.04 872,577.05
02/15/2036 37 222,579.54 0.00 0.00 3,533.94 3,533.94 215,511.66 657,065.39
08/15/2036 38 222,579.54 0.00 0.00 2,661.11 2,661.11 217,257.32 43.9,808.07
02/15/2037 39 222,579.54 0.00 0.00 1,781.22 1,781.22 219,017.10 220,790.97
08/15/2037 40 222,579.37 0.00 0.00 894.20 894.20 220,790.97 0.00
Totals: 8,941,710.19 149,980.00 778.83 621,875.71. 621,875.71 7,547,199.94
*Total to pay may reflect activity during repayment term
Wed,21 Oct 2020 11:17 Page 7 of 7
DocuSign Envelope ID:6823BB66-EEB4-4A70-A6E5-FC2007D29BC8
GRANTS AND INTERGOVERNMENTAL
AFFAIRS
DATE: November 19, 2020
TO:. Jimmy L. Morales, City Manager
FROM: Judy Hoanshelt Dousfg^odhyFAAFG
i
SUBJECT: Department of Environmental Protection, State
Revolving Fund, Amendment 1
Routing
John Woodruff � w
o«ospom ey:
Marcia Monserrat � a Ittem,semt
For:
Review and approval
X City Manager's Signature
Comments:
The Administration was granted approval for the original State Revolving
Loan at the July 12, 2016 City Commission meeting. Reso No. 2016-
29486.
This amendment revises certain terms of the loan, including the Loan
Amount from $7,500,000 to $7,499,013, and the repayment terms and
amount.
Funding Agency: State of Florida, Department of Environmental
Protection
Loan Name: State Revolving Fund
Amount Awarded: $7,499,013 (reduced by$987).
Return to:
Ariadna Natteri
Date Needed: 11/20/20