Agenda 03/10/2009 Item #16A 7
Agenda Item No. 16A7
March 10, 2009
Page 1 of 20
EXECUTIVE SUMMARY
Recommendation that the Board of County Commissioners approve and authorize the
Chairman to sign an amendment to the Agreement for Deferral of 100% of Collier
County Impact Fees for Multi-Family (Rental) Affordable Housing between Collier
County and Brittany Bay Partners, Ltd., for the Brittany Bay Apartments, Phase I,
consistent with the Board's direction pertaining to remedies for past due and expiring
impact fee deferrals
OBJECTIVE: That the Board of County Commissioners (Board) approve and authorize the
Chairman to sign an amendment to the Agreement for Deferral of 100% of Collier County
Impact Fees for Multi-Family (Rental) Affordable Housing between Collier County and
Brittany Bay Partners, Ltd., for the Brittany Bay Apartments, Phase I, consistent with the
Board's direetion pertaining to remedies for past due and expiring impact fee deferrals.
CONSIDERATIONS: On August 3, 2001, the Board of County Commissioners entered into
an Agreement with Brittany Bay Partners, Ltd. for the deferral of impact fees in the amount of
$1,058,256.08 for 184 atTordable rental units at Brittany Bay Apartments Phase I (Brittany
Bay). The actual amount deferred via issued building permits equals $1,048,518.88. The
difference between the two nun1bers relates to a change in the unit count and the square footage
of the eligible dwelling units. In accordance with the deferral agreement, the term of the
~ deferral was for a period of six (6) years from the date of deferred impact fees for the project.
The first building permit for the subject development, for which impact fees would be due and
payable but for the deferral agreement, was issued on September 5, 2001. Therefore the term
of the deferral expired on September 5, 2007 and was not subsequently extended. In addition,
concurrent with the execution of the deferral agreement, a lien was placed on the subject
property in the amount of the deferred impact fees as security for Collier County's interest and
is still in place on the property record.
On June 17, 2008, statT from the Housing and Human Services Department sent
correspondence notifying the representatives of Brittany Bay of the past due status of the
impact fee defelTal. A response was received by stalf on July 24, 2008 from Mr. W. Scott
Culp, Executive President of Atlantic Housing Partners, on behalf of Brittany Bay, requesting
an extension of the deferred impact fees to 15 years (September 5, 2016). Extensions of
impact fee deferrals are not granted administratively. Any extension or change to a deferral
agreement requires the approval of the Board; therefore, on September 23, 2008, Mr. Culp
presented a public petition to the Board (Item 6C) requesting the extension to the Brittany Bay
impact fee deferral agreement. Following the presentation of the public petition the Board
directed that options for resolving the issue of expiring/past due impact fee deferrals be
developed for the Board's consideration.
On October 28, 2008, during the discussion of Item lOA the Board provided policy direction
related to the issue of expiring and past due impact fee deferrals for affordable multi-family
rental projects as follows:
,-.
Agenda Item No. 16A7
March 10. 2009
Page 2 of 20
Require the payment of 60% of the deferred amount, to be disbursed pro rata to the
affected impact fee trust .fimds. Provide an extension of the remaining deferral
balance to J 0 years, consistent with the current program. Related to interest, fur
thuse deferral agreements executed between Collier County and a fiJr-profit entity,
an interest component of 5% per year will be included ji)r the IeI'm of the extension.
For those deferrals executed between Collier Countv and a not~for-profit entity,
interest will not app/.v.
On December 12, 2008, Brittany Bay Partners, Ltd. remitted payment of $629,111.33 to
Collier County which represents 60% of the balance of the impact fee deferral, totaling
$1,048,518.88. The remaining balance of $419,407.55 (40%) plus 5% interest per year, for a
total of $503,289.07 becomes due and payable on September 5, 2011 which is a four year
extension from the original due date of September 5, 2007. The balance may be paid at any
time during the extension period without penalty and interest calculated and due only through
the date of payment in full.
The attached amendment to the agreement provides for these changes and has been executed
by the representatives for Brittany Bay Partners, Ltd.
FISCAL IMPACT: The following chart provides the original amount deferred, amount paid
and remaining balance, by fund, for the Brittany Bay Apartments Phase I impact fee deferral.
Impact Fee Amount Deferred Amount Paid Remaining Balance
Road $331,200.00 $198,719.98 $132,480,02
Sewer 185,560.00 111,335.99 74,224.01
Water 150,360.00 90,215.99 60,144.01
School 152,168.00 91.300.79 60,867.21
Community 105,067.68 63,040.66 42,027.02
Parks
Regional Parks 45,966.88 27,580.13 18.386.75
Library 39.376.00 23,625.60 15,750.40
Jail 21.708.32 13,024.99 8,683.33
EMS 17,112.00 10,267.20 6,844.80
Total $1,048,518.88 $629,11 1.33 $419,407.55
Agenda Item No. 16A7
March 10, 2009
Page 3 of 20
The fiscal impact of the execution of the amendment to the Brittany Bay Apartments Phase I
deferral agreement is the loss of the income of 40% of the balance of the deferred impact fees
to the impact fee trust funds for the term of the agreement; however, in order to offset the
revenue loss, a simple interest component of 5% per year, over the telm of the extension, has
been included as part of this amendments. The interest will generate $83,881.52 over the four
year period, unless repaid early. The income derived from the interest payment will be
disbursed on a pro rata basis to the affected impact fee trust funds.
GROWTH MANAGEMENT IMPACT: Objective 1.2 of the Capital Improvement Element
(CIE) of the Collier County Gro'W1h Management Plan (GMP) states: "Future development will
bear a proportionate cost offacility improvements necessitated by growth."
Additionally, Policy 1.4 of the Housing Element of the Collier County Growth Management
Plan states: "Collier County shall seck to distribute affordable-workforce housing equitably
throughout the county "here adequate infrastructure and services are available. Programs and
strategies to encourage affordable-workfiJrce housing development may include, but are not
limited to, density by right within the lmmokalee Urban area and other density bonus
provisions, impact fee deferrals, expedited permitting (fast tracking), public-private
partner.\'hips, providing technical assistance and intergovernmental coordination. "
Impact Fees generate funds to be expended for capital improvements to public facilities
necessitated by growth. The deferral of impact fees for the subject property for the initial 6
year term (or other specitied term) was consistent with the Growth Management Plan and the
impact fee regulations in place at the time of execution of thc Agreement. The extension of the
Brittany Bay Apartments Phase I impact fee deferral to a total term of ten years is consistent
with the current impact fee deferral program for (rental) multi-family affordable housing
projects. Additionally, the inclusion of the interest component as part of the proposed
amendment helps to offset the revenue lost over the timeframe of the extension.
LEGAL CONSIDERA TlONS: The County Attorney worked with staff on the preparation of
the amendment to the deferral agreement, which is legally sufficient for Board action. This is a
regular agenda item requiring simple majority vote. -JAK
RECOMMENDA TlON: That the Board of County Commissioners approve and authorize
the Chairman to sign an amendment to the Agreement for Deferral of 100% of Collier County
Impact Fees for Multi-Family (Rental) Atlordable Housing between Collier County and
Brittany Bay Partners, Ltd., for the Brittany Bay Apartments, Phase I, consistent with the
Board's direction pertaining to remedies for past due and expiling impact fee deferrals.
PREPARED BY: Amy Patterson, Impact Fee and Economic Development Manager
Business Management and Budget Oflice, CDES
^",.,,,
Page 1 of 1
Agenda Item No. 16A7
March 10. 2009
Page 4 of 20
COLLIER COUNTY
BOARD OF COUNTY COMMISSIONERS
Item Number:
Item Summary:
16A7
Recommendation that the Board of County Commissioners approve and authorize the
Chairman to sign an amendment to the Agreement for Deferral of 100% of Collier County
Impact Fees for Multj.Family (Rental) Affordable Housing between Collier County and
Brittany Bay Partners, Ltd., for the Brittany Bay Apartments. Phase I. consistent with the
Boards direction pertaining to remedies for past due and expiring impact fee deferrals
Meeting Date:
3/10/20099:0000 AM
Prepared By
Amy Patterson
Impact Fee Manager
Date
Community Development &
Environmental Services
Financial Admin. & Housing
2/231200910:09:50 AM
Approved B)'
Jeff Klatzkow
Assistant County Attorney
Date
County Attorney
County Attorney Office
2/24f2009 9:27 AM
Approved B)-'
Judy Puig
Operations Analyst
Date
Community Development &
Environmental Services
Community Development &
Environmental Services Admin.
2/24/200910:00 AM
Approved By
Joseph K. Schmitt
Community Development &
Environmental Services Adminstrator
Date
Community Development &
Environmental Services
Community Development &
Environmental Services Admin.
2/2412009 1 :29 PM
Approved BJ"
OMB Coordinator
OMB Coordinator
Date
County Manager's Office
Office of Management & Budget
2/27/20098:42 AM
A pproved By
Mark Isackson
Budget Analyst
Date
County Manager's Offke
Offi(;e of Management & Budget
3/2/2009 9: 34 AM
Approved By
James V. Mudd
County Manager
Date
Board of County
Commissioners
County Manager's Office
3/2/200910:10 AM
file://C:\AgendaTest\Export\ 125-March%20 1 0, %202009\ t 6. %20CONSENT%20AG ENDA \]... 3/4/2009
Agenda Item No. 16A7
March 10, 2009
Page 5 of 20
AMENDMENT TO AGREEMENT
FOR DEFERRAL OF 100% OF COLLIER COUNTY IMPACT FEES
FOR MULTI-FAMILY AFFORDABLE HOUSING
This Amendment to the Agreement for the deferral of 100% of impact fees entered into
on ,2009, by and between Collier County, a political subdivision of the State of
Florida, through its Board of County Commissioners, hereinafter referred to as the "County" and
Brittany Bay Partners, Ltd., hereinafter referred to as the "Owner," collectively stated as the
~'Parties. H
Recitals:
WHEREAS, Collier County provides for the deferral of impact fees for certain
qualifying affordable, multi-family rental units, in accordance with Chapter 74 of the Collier
County Code of Laws and Ordinances, which is the Collier County Consolidated Impact Fee
Ordinance; and
WHEREAS, on August 3, 2001, the County and the Owner entered into an Agreement
for the deferral of 100% of the impact fees in the amount of $1,048,518.88, for the project
known as Brittany Bay Apartments Phase I, which Agreement is recorded in OR Book 2870,
Page 1348 of the Official Records of Collier County (hereinafter referred to as the "Deferral
Agreement"); and
WHEREAS, this sum was reduced to reflect the amount that was actually due upon the
issuance of building permits to $1,048,518,88 by memo dated August 22, 2001; and
WHEREAS, pursuant to the Deferral Agreement, the $1,048,518.88 in deferred impact
fees became due and payable on September 5, 2007; and
WHEREAS, on October 28, 2008, during a regular meeting of the Board of County
Commissioners, the County agreed to extend the payment date for a portion of the amount past
due to September 5,201 I, provided that the Owner consent to the following conditions:
I. The Owner pay the County 60% of the full amount deferred ($629,111.33), following
which the balance of$419,407.55 would be due and payable on September 5, 2011.
2. Interest in the amount of 5% per year will be applied over the four year extension;
and
WHEREAS, on December 12, 2008, payment 10 the amount of $629,111.33
remitted to the County by the Owner.
was
J
Page 1 of 4
Agenda Item No. 16A7
March 10, 2009
Page 6 of 20
NOW, THEREFORE, in consideration of the foregoing Recitals, and other good and
valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged,
the Parties agree as follows:
I. The foregoing Recitals are true and correct and are incorporated by reference herein.
2. Owner will pay County the remaining Impact Fee due of $419,407.55, together with
simple, non-compounded interest calculated at a rate of 5% per year until paid in full, with
interest commencing on September 5, 2007. Should Owner not pay all sums due hereunder by
September 11, 2011, interest will then be owed in amount equal to the rate of interest payable on
judgments (Fl. Stat. Sec. 55.03), with such interest commencing September 12, 2011, and
calculated on a monthly, compounded basis. Owner may prepay the remaining balance owed
without penalty.
3. Except as amended, all other terms and conditions of the Deferral Agreement remain
in full force and effect. This Amendment and its provisions merge any prior agreements, if any,
between the parties with respect to the matters set forth in this Amendment.
4. This Amendment shall be recorded by the County, at the expense of the Owner, in the
Official Records of Collier County, Florida, within sixty (60) days after execution of this
Amendment by the County.
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
executed by their appropriate officials, as of the date ftrst above written.
(Remainder of Page Intentionally Left Blank, Signature Page to Follow)
j
PageZ of4
Agenda Item No. 16A7
March 10, 2009
Page 7 of 20
Attest:
DWIGHT E. BROCK, Clerk
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
By:
, Deputy Clerk
By:
DONNA FIALA, Chairman
Jeffre A. K zkow
Count Atto y
AS TO BRITTANY BAY PARTNERS, LTD.,
a Florida Limited Partnership
Signed, sealed and
delivered in the presence of:
By: CED Capital Holdings 2000 Y, L. L. C.,
a FL limited liability company, its general
partner
~
By:
Printed Name:SHERYl. NORFl.EET
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. at ~~) <:.-
Sl a ure
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Printed Name: ..c~ ,14'1 \ "d ,~ I-~ " L.' )( '"
STATE OF FLORIDA
ORANGE COUNTY
The foregoing instrument was acknowledged before me this 4th day of February, 2009,
by Jay P. Brock, Manager of CED Capital Holdings 2000 Y the general partner of Brittany Bay
Partners, Ltd., who is personally known to me.
,.........SH"SRVC.NORFLEET.........j
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Page 3 of 4
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Agenda Item No. 16A7
March 10, 2009
Page 8 of 20
EXHIBIT "A"
Balance of Impact Fees and Applicable Interest per Year
Beginning Balance:
$419,407.55
Year I Interest:
(September 5, 2007 through
September 5, 2008)
$ 20,97038
Year 2 Interest:
(September 6, 2008 through
September 5, 2009)
$ 20,97038
Year 3 Interest:
(September 6,2009 through
September 5, 2010)
$ 20,970.38
Year 4 Interest:
(September 6, 2010 through
September 5, 201 t)
$ 20,97038
Total Due at Conclusion
of Deferral Tenn
(September 5, 2011)
$503,289.07
Interest on any prepayment shall be calculated by multiplying the rate of 5% by the number of
days following September 5'h of the payment year, divided by 365, then multiplying this product
by $419,407.55, then adding all interest generated by the prior years.
;
Page 4 0[4
~ - · Atlantic
~. '-HOUSING PARTNERS
Agenda Item No, 16A 7
March 10, 2009
Page 9 of 20
February 5, 2009
Via Federal Express
Collier County
Community Development & Environmental Services
2800 North Horseshoe Drive
Naples, Florida 34104
Attention: Amy Patterson
Impact Fee 8r. Economic Development Manager
Re: Brittany Bay Apartments-Phase I
Collier County, Florida
Dear Amy:
Please find enclosed a signed copy of the Amendment to the Agreement for Deferral of Impact
Fees for the above referenced community, Once completely executed, please provide a copy
for our files.
Thank you for your assistance with this. If you need any information from us, please contact
me at 407-741-8525 (direct) or via e-mail (s.norfleet(cllatlantichousino.com).
Sincerely,
ATLANTIC HOUSING PARTNERS
~1 ^ ~\\ LiP "\1\ Nlo rf~
She~~~~~t ' vv UVAJ
Pre-Development Analyst
Enclosu res
cc: CF-Correspondence with County
Impact Fees
329 NORTH PARK AVENUE, SUITE 300. WINTER PARK, FLORIDA 32789. PH (407) 741,8500
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~I Brittany Bay Partners, Ltd
" C/O Concord Management 2108
c 1551 Sondspuy Rd
Maitland, FL 32751
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Page 10 of 20
Check # : 006044
12/11108
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.... SIX HUNDRED TWENTY NINE THOUSAND ONE HUNDRED ELEVEN AND 33/100 DOLLARS
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Two Signatures ReQUired Oyer $10,000
Board of Collier County
Commissioners
2800 North Horseshoe Drive
Naples, FL 34104
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AGREEMENT FOR 100% DEFERRAL OF COLLIER
COUNlY IMPACI' FEES FOR MULTI.FAMILY
AFFORDABLE HOUSING
ThiJ A,reement for the Deferral ofImpaet Fees i. entered into this 3r,.I day of ~,et,-J
2001, by and between Collier County, a political subdivision of the State of Florida, throuah its
..A....cI1o u "Impact Fee ,
f'
&mIJy. rental dwelling unit. which
WHEREAS. Jay P. Brock, M Ings 2000Y, a Florida Limited Liability
CompIny. u General Partner of Brittany Bay Partners, Ltd. Brittany Bay Partnen, Ltd., is the
duly authorized apnt; and
WHEREAS, Brittany Bay Partner.. Ltd" has applied for a deferral of impact ... u
required by the Impact Fee Ordinance for it. Brittany Bay Apartments PROJECT, hereinafter
referred to u "PROJECT," and a copy of said application is on file in the Housina and Urban
Impt\)Yelllellt Department; and
WHEREAS, the County Manqer, or hi. designee, has nMewed the OWNB1l'S
appIIcaIlon for the PROlECT and has found that it complies with the requirements for an
lof7
OR:
affordable houlinll deferral of multi.family implct fees IS required by the Impact Fee Ordinance;
and
WHEREAS, the COUNTY desires to issue an impact fee deferral in the amount orOne
Million Fifty-Eighl Thousand Two Hundred Fifty-Six Dollars and 61100 (SI,058,256.06) llIr six
years from the first date that the impacI fees would otherwise be due and payable for the
PROJECT; and
WIIEREAS, the Impact Fee Ordinance requires lhal the OWNER enter inlo an
Asreement with the COUNTY; and
WHEREAS, pursuanllo Se<:tion 74-201 E.!.b. ofthe Impact Fee Ordinance,lS codified
in the County's Code of Laws and Ordi Counly Manager is authorized to execute
certain Impact Fee Deferral Agree
NOW, THERE
valuable consideration. the r
Parties covenant and agree as fo
1.
and are incorporated by reference herein,
2. LEGAL DESCRIPTION. The PROJECT'sleaal description for the location of
the dwelling unils (the "Dwelling Units") that will have their impact fees deferred is attached
hereto IS Exhibit "A," and the PROJECT's site plan is attached IS Exhibit "B," and both Exhibits
are incorporllted by relCrcnce herein.
3. TERM. The OWNER agrees that Ihe Dwelling Unils shall remain dordable and
ahaIl be offered for rent in accordance with the standards set forth in Ihe Impact Fee 0rcIinancc
for a minimum Icnn of fifteen (I 5) yean commencing from the date a certificatc of oc;cupanc;y is
issued for a particular Dwelling Unit; and that Ihc tenn oflhe requirement to pay the PROJECTs
e<:ilals and other Soocl and
mutually acknowledged. the
impact fees for OWNER in
20f7
OR:
2870AP6'ra1ltIANo.16A7
. ~llrt1\ 10, 2009
Page 13 of 20
impact feel will be deferred for six (6) years /Tom the date of Ihe impacl fees bei"l due and
payable.
4, REPRESENTATIONS AND WARRANTIES. The OWNER represents and
warranlS IlIe following:
A. Each Dwelling Unit will, during the term of the Agreement, be the
pennlnenl residence of I qualifying occupant/lenant.
B. AI IlIe commencement of Iny lea..hold and Ihroughout the durItion
thereof. the households rentins Dwellins Units muSI have a very low or low
income level, as those terms are defined in the Impact Fee Ordinance; and lhe
household', monthly renl must be within the affordable housing guidelines
c.
.. for II least fifteen (I S) yean
5. SV8SEQV
rents I DweUing Unit whic
Unit 10 a IIIbsequent renter,
renter which originally qualified
Ordinance increases by more Ihan forty pe
deIcribed in the Impact Fee Ordinance, Ihen the per unit deferred impact fee on the non-
c:ompJiant unit shall become immediately due and payable by OWNER or, in the alternative, the
OWNER shall have ninoly (90) day, to comply wilh lhe Affordable Housinglluidelines set forth
in the Impam Fee Ordinance. Assuming Ihe OWNER has not been able to comply with lhe
guidelines, upon the disconlinuarn:e of use of. Dwelling Unital affordable housina. or six yellS
&om the elate IUch impact feel are deferred, whichever occurs first, the impact fees deferred IhaII
be immocIiately repaid 10 the COUNTY. OWNER agrees Ihat even though the impact feel may
haw been repaid to tile COUNTY, Ihe OWNER will continue 10 utilize the Dwelling Units for
30f7
OR:
287QeJ)&, 1tJ,1~t. 16A7
....~arclf, it, 2009
Page 14 of 20
afl'ordlble housing for at least fifteen (15) years from the date the first certilicate of "CCllplncy
wu issued for a Dwelling Unit.
6, ANNUAL REPORT. Annually, OWNER of the Dwelling Unit shall provide to
tile Housing IIId Urblll Improvement Department an Affidavit attestins to complianee with the
affordable housins qualification criteria IIId standards set forth in the Impact Fee Ordinan<:e, Said
Affidavit must be liled with the County Manager and is due within thirty (30) days of the
anniversary d.te of the iuulllce of the fint dwelling unit's certificate of oceupancy, Any Dwellina
Units monitored by the Florida Housing Finance Corporation or similarly monitored by lilY other
st.te or federal agmey will not be required to file this separale affidavil of compliance wilh the
County Mlllager,
7. LIEN.
amount of deferred impact fees,
qhh uing until paid or released, shall
housand Two Hundred Fifty-
commelK'ing on the effective
constitute and be a lien in I
Six Dollars and 6/100 (SI, 58
Ben may be foreclosed u
Aareoment, Provided thatt
by, and in consideration of; a
that all of the COUNTY'S lien ri
"}
be considered junior, inferior, and subordina
u elaewhere nOled in this Agreement, such lien shall be superior and paramounl 10 lhe interest in
the DweUilllJ Unit of any owner, lessee, lenanl, mortgages, or other person except lhat this lien
IhaII be on parity with lilY lien for County taxes.
g. RELEASE OF LIEN. Upon satisfactory completion of this Asrcement's
requirements, including payment of the deferred impact fees, the COUNTY shall, at the expense
of the COUNTY, record lilY necessary documentation evidencing such payment, in<:luding but
not limited to, a release oflien.
40f7
OR:
2870 .fGodJ1WNo. 16A7
WC'r, 10, 2009
Page 15 of 20
9. BINDING EFFECT. Thi. All"eement shall be bindina upon Ihe PaniO$ 10 this
AareeJnenI. their heirs, aucceuora, and usisna, In the clSe of sale or transfer by sift of any
Dwelling Unil, the oriainal OWNER shall remain liable for the impacl fea deferred unlil said
impact Ceea are paid in full.
10. RECORDING. Thi, All"ccmenl shall be recorded by OWNER allhe expense of
OWNER in the Official Recorda of Collier County, Florida within sixty (60) days after OlC\lC\IUon
oflhia Asrccment by Ihe Counly Manager.
II. DEFAULT. OWNER shall be in defaull oflhis Agreemenl:
A. if OWNER fail, 10 rent Ihe propeny in accordance wilh lhe affordable
housing alandarda and qualification crileria established in Ihe Impact Fee
c\ fees due within lhiny (30) days
B
if 0
rdable housing qualificalion
fi een (I S) dlys after mailing
F-
~
een (IS) clay gm:e period
~ he OWNER wiD lhereafter be
C.
in default,
12. REMEDIES. The following remedies arc cumulalive with any Olher rishl or
remedy available 10 Ihe COUNTY:
A. Should Ihe OWNER oflhe propeny:
I) fail 10 comply with the said qualification Criteril It any time durina
the fifteen (15) year tenn; or
2) violate any provisions of this Agreemenl,
Ihen Ihe dollar amounl of impact fees deferred shall be paid in full by OWNER 10
Ihe County within thiny (30) days ofwrillen notification of said violation.
S of7
OR:
2870g<llJllil I~~. 16A7
r\J oMa.1IiJ.JO, 2009
Page 16 of 20
B. Should the OWNER otherwise be in default of lhis A~enl. and the
default i. not oured wilhin ninety (90) days after mailina Millen notice to the
OWNER. tho COUNTY may bring a civil aolion 10 enl'oroe lhe Agreemenl.
C. In addition, tho lien may be foreclosed. or otherwise enl'orced by tho
COUNTY, by action or lUit in equilY inoluding the foreololUro of a moRN' on
real propcny. Tho COUNTY shall be enlitled 10 reoover all fees and oosls,
inoludini anomeY'1 fDCI, plus interest at the 5Iatutory rate for judpnenlS
calculated on a calendar day basis until paid,
IN WITNESS WHEREOF, the Panics have exeouled Ibis Agreemenl on Ibo date and
year flnt above wrinen.
(2) WitllCJses:
net'S, Ltd
Partner. CED Capital
2000Y. . Florida Umited
~. . y Company
~
......-.
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'Cu, Lr;~
J~.i....JTfNU
Jay p, Brock, Manapr
(CORPORATE SEAL)
6of7
. .
OR: 2870 ~d13'" No. 16M
",i'fr~h 1 0, 2009
Page 17 of 20
STATE OF FLORIDA
COUNTY OF Or' "~I _
The forejjoing Asreement wu acknowledged before me this ~ day of r "-~ .
2001 by Jay P. Brock, Manager of CEO Holding. 2000Y, a Florida Limiled . i1ity
Company, u General Partner of Brillany Bay Panners, Lid. ~naIIy..knctwn1O._
me or lw produced (type of identific:llion) u
identifieelion,
~..~~ ~Ju..J
Sipatu n twng acknowledgment
(7p~ A . Dl\Y..er
Name of wledger Typed, Prinled or Stampl:d
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~.*..,o....~., . .CCIJnID
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COUNTY:
OF COUNTY COMMISSIONERS
IER COUNTY, FLORIDA
J-.\
STATE OF FLO
COUNTY OF
f/,.,
The foregoina Aareeme
2001 by Thoma W. Olliff',
known 10 me or hu produ
identific:ltion.
.
,-
~
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..0 ~
. 'I J.:.. day of ~
fthe COUNTY. H. i. '
(type of identification) u
~'),. !.AU, REN J, BEARD
....'1... M1 rowt.tlSSlQN. OC'mlW
~".. t:xPtaE1IG'1.anaD:!
1.IDO-,)..NOTAlY Ha "'....,,"""ICft. l'"
Reeo.mended for Approval
I
~'/,
-,-,,~./. .../, ./
ie, Director of
Urhan Improvement
atrick O. 'Ie
Auiltanl County AllOmey
7 of?
OR' 28'oerDl'a .tetQlll(16A7
. · "WIarM"'~, 2009
Page 18 of 20
IISIlITTI\IN BAY 1
A POMTI0N OF SECTION 27, TOKNSHIf 48 SOOTH, IlANGI 26 EAST, COLLI~ COUNTY. FLOlllDA,
BIIlGG HOg rAJlTlCOLAA]. Y DESClUBED AS FOLt.oIIS I
~B AT TIl!; sotnllEl\ST COIlJlU or SECTION 27. TOWNSHIP 48 SOll'tH, JlANGE 26 EAST,
COu:,1E1l COURTT, I'LOIUDA; TJlBNCE N. 89 'OB'07. W., ALONG THE S. loIN!: OF SAID SECTION
27, A DISTANCE 01' 100. 01 n:ST 'f0 THI POIIlT or BEGINNING or tiE 'A!\CEL or LAND lIEUIN
~c::aIB&D1 TBDJa COIlTINOI II. 89 "08'07. N., ALONG THE SOOTH LIlli: or SAID SEC'fION 27,
It DISTAN~ or 1,327,56 FEE'll THEIlCE II. 06 '2"SQ" M., A DISTANCE or 131.57 FEEt I
T~ II. 11 '31'20" E., A DISTANCE or 23.1. rtET, T~ez S. 11 '30'3." E., A DISTANCE
or 90.91 FEET; THENCE S. 10 '56'0'" E., A DI'TANet or ".51 F!~I THEN~ S. 07 '06'4'"
W., A DISTANCE or 3C.26 FEETI THENCE S. CO ~0"28" E" A DISTANCE or 32.13 rsETl
TKaNCE S. 40 '14'16" E., A DISTANCE or 16.35 FZET; TRINCI N. 81.'57'.7" E., A DISTANCE
or 11.1' rKlTI'THZNCE N. 16 '50'57" I.. A DISTANCE or 21.84 rszT; TBENCt N. 60 '31'53.
IIC.. A DIS'fNICE or U.23 rm:T, TllEllCE S. 74 .54'29" 11., A DISTANCE or 23.87 FEET;
TBEMCIIC R. 70 "36'06. E., A DISTANCE or 33.64 FIt'll TBlNCI N. 35 '27'42. W., A DISTANCE
or 31.10 n:n'; TlIDICZ N. 53 .24.'55. N., A DISTANCE or 21.22 nn, TRENCI; N. 08 '5)'52"'
".. It DISTABCI: or 40.16 I'&I:TI TIIENC:E N. " W., A D1S'1'ANCE OF CO.40 ~:
Tru.&OU. s. 53 '37'03. .... A DISTANCE ~. fli.. CIl 8. 79 "53'22" II., A DISTAIlCIl
or 21.46 rcITI THENCE N. CS "19'2.~ .7~ rEit; TRmNCE N. 47 '57'10.
w., A DIll!AIICI: or 40.57 n:u, TB . 34 .42'59" ~ %STANCE or 25.6. FEET;
'l'III!:JICZ II. 5' "11']8" W., A D~I'I' r 19.55 FES'I'; 1&. 46 "52'01. W.. A DISTANCE
or 21.56 rElT, TIIPCE N. 01 .2 'S IST . 29 nETl TIlINCI: N. 35 "13'45.
W., A DIS'fAIICI: or 16.31 nl!:TI 'I' , " 4' A % aNa or 100.:U n:&T I
TKENCS S. BC '37'23" R., A 01 'I' N. '5 '50'52. W., A DISTANCE
OF 11.7' rEZT; TBiNet N. 04 "5" , THENCE N. 19 '27'24.
W., A OISTAIIC!: or 26.74 n:&T. T ft CE or 36.31 FEE'1':
T~ N. 15 "09'59" E., A 0 5 '40'27. E., A DISTANCE
OF 19.0' rBET; THENCE N. 86 " ET: THENCE N. 56 .41'51.
E., A DIS'I'AMC& or 40.25 rEETl CE OF 46.95 r&ET;
'I.'1IZJIC:&'N. " .15'42" E., It 01 ON A CIl\CULAJI. CUlWE,
COlIOVE SOO'l'ilEl\LY, noSE lUIDIO Of A DISTANCE or 158.16
l'EE'l' TlIDJ:rN:l11 TB!NCt l\UN IlAST CllRVE '1'0 TIlE IlIGIIT, IlAVING
A NUlIOll or 158.16 rElT, 'JRROOGH ~ 4'41", SCBTI:NDED BY A CHOIID
or 44.89 nET AT A 8EM.IIIG OF II. 77 AJlC Ll:NG'rH OF C5.04 FEET TO A
1'OIllT 011 A CIJtCtlLlUl. CcaVl:, CONCAVE so AADIOS roINT I!&A.IIS S. 02 ' 01' 41"
,II.. A DISTABCE or 315.2B UE'l' TRil\Ei'IlON; THEIICE l\illl EASTEJU.Y, ALONG THE l\llC or SAID
etlllVl!: TO TIlE !l.IGllT. I\AVING A IlADIilS or 315. %B FEET, 'l'Hl\OOGR A CEIlTRA:l. ANGU; OF
11 .01'41", SOBT~DSD BY A CHOIlD or 60.59 FEET AT A 8EARING OF S. 82 "20'28" E., FOR
AN A1tc 1Ji\RGT1I OF 60.68 rEST TO A i'OINT ON A CI~IlLAl\ CUl\V'I:, CONCAVS NORTKElILY, WII0SE
aAD10S POINt BEABS' N. .,' .55'13. E., A DISTANCE or 53.41 FEE'\' 'I'~rkOHI THENCE I\UN
US'1'EJU,Y, ALONG' THE MC or SAID ClIRV1l '1'0 TilE LEFT, !lAVING A RADIUS or 53.47 FEIlT.
'l'Hl\OOQ/\ A Ci:lITRAI. ANGLE or 43 '02'0'". SOBTE:NDED 1IY A CHOIUl or 39.23 FEET AT A
8tA1U1IG or K. 85 '24'09. 11.. rea AN AJ,C LENGTH or 40.16 FEET TO THE END or SAID' CUP-VE;
TKtRCE N. 5' '..'23" t" A DISTANCE or 61.07 FEtT TO A POINT ON A CIRCDLAR CORVE.
CO~VE SOUTHERLY, WHOSE RADIUS POINT BI&ARS S. 23 '41'53. E., A DISTANCE OF 364.4.
rEST TIIilIlErr.OHI THENCE lurn l!'.lU'lTI!:RL'l. ALONe; THE AIlC or SAIt> CU!l.Vt TO THt ~ICH'l',.RAVlNG A IV\J)IUS or 384.41 I'"EJ:T,TIIROUCH A C!.NTIlAL ANGLE OF 13 '28'46", SUIlTtND!:O llY A
CHOIlD or 90.23 FEET AT A ~EARINC O~ N. 73 '02'30. E., FOR AN AP.C LENGTH or QO.4. FEET
TO A POINT ON A CIRCULAR CURVE. CONCAVE SOOTHtRLY, WHOSE RADIUS POINT BEARS S.
00 "31'48" W.. A DISTANC& or z.c.94 Fi~T THi:!l.E~ROMI THENCE RUN EASTERLY, ALONG THE ARC
or SAID CURVE TO THE RIGHT. HAVING A RADIUS OF 214.94 ~EI!:T. THROUGH A CENTRAL ANGLE
or 15 '34'03., SUIlTI!:NDED IlY A CHORD O~ 61.93 nE'r AT A 8UP.tNG OF s. 91 '11'10" E..
fOR AN AIlC LENGTH O~ 62.1> rEET TO A POINT ON A e!!l.eUl~R CURVE, CONCAVE S. WESTERLY.
WHOSE RADIUS POINT BEUS S. 37 '22'5'. W.. A DIS':'AJoICE t'lr 270.31 FEET THE!\EFI\ON; THEN::e:
RUN SOUTHtAST- ERLY. ALONG THE ARC or SAID CURVE TO THE RIGHT, I~VINr, A K~DIUS or
"
OR: 2870APG1Ja11",No.16A7
, ~1l1'r:1\ 10, 2009
Page 19 of 20
210.31 FEET. TijROOGH A CENT~ ANGLE or 14 '~2'34'. SUBTENDED BY A CHORD OF 69.99
FEET AT A SEARING or S, 45 '10'.~' E,. rea AN ARC LENGTH or 10.18 FEET TO A POINT ON
A CIRCOI..M CUIIV!.. CONCAY!: 1l0l\THEIlLY. MilOS! RADIOS POINT BEMS N. 39 'H'49' E.. A
D1STANCE or 76.7' rEtT THER!.~l THENCE IIUIl EASTERLY. ALONG TBE AkC or SAID CURVE
TO TR!. LEn, HAVING A AADIt/S or 76.79 i'E!T, THIlOUGH A CtNf!W. ANGLE or 34 'ZI'H".
sD/!T&lIDED BY A CHORD or 45.3' rEET AT A IlE:AJl,ING or S. 68 '20'S8" E.. FOR AN MC LENGTII
or 46.05 FlI: TO THE &NO or aAID ~~, THENCE ,. 83 .1S.... E., A DISTANCE or 47.01
FEET TO A POINT ON A CIRCVLAA CURVE, CONCAVE SOUTH~~LY. WHOSE RAPIDS POINt SEARS S.
11 '03'4~. W,. A DISTANCE or 261.36 FEET TH~~FROH1 TH~NCS RUN EAST&~r, ALONG THE
MC 01' SAID eUIlVE TO THE RIGHT, HAVING A MDIIIS OF 261.36 FAlT, THROUGH A CElITl\AL
ANGLE or 13 'S8'35". SOBTENDID BY A CHORD or 63.60 FEET AT A BE:AJI,IN; or 8. 11 '56'53'
E., rOil AN .uc LENGTH or 63.15 n:ET TO A POIN'!' ON A CII\CUloAR CURVE. CONCAVE N.
~T~I, WHOSE IADIOS POINT BEARS N. 29 '.l'SS" E., A DISTANCI or 307.6' ~eT
TBEIUiI'Ral; TIIEIICE Rl1N S. r;MTEI\LY, AloORG TH" MC OF SAID CUP,VZ TO THE LEFT, HAVING A
~IOS OF 301,64 FEET, THRODGH A CENTJAL ANGLe or 11 '31'2'", sueTENDED BY A CHORD or
6t.78 nET AT A IIEMING or s, 66 '03'0" E.. roll AN MC L&IIGTH OF n,n FlET TO THE
END OF SAID CORVE1 THiNCE S. 78 '58'2'" I.. A DISTANCE OF '6.Z4 FEET: THENCE S.
83 W33'33" E.. A DISTANCE OF 161.16 FEET TO A fOINT ON A CIl\COLAll CORVE, CONCAVE
NORTKERLY, WHOSE RADIUS POINT B~ N, 20 '32'3" E.. A DISTANCE or 457.44 FEET
'I'JIll:&UliFllCll; '!'aENO RUN I:ASTERLV. ALONG raE IUI.C OF SAID CDIlVE TO Till: I.I:I"r. HAVING A
RADIOS or ,.,.,. rEET. THROU~H A CENT '00'51", SUIITENDED IIY A CHOao OF
11'.'8 rEZT AT A 8~NG or S, 80 '27' LENGTH or 175.76 FEET TO THE
END or BAlD CURVE; THEIlCE N. 88 .3 0.18 !'UT, 'tHKlICE S.
01. W.28'13" E,. A DXSTANCE OF 566. U NNING.
CONTAINING 76',671 SQUARE FEET
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