GG Golf Housing Project - Extension to Financing EXTENSION TO FINANCING COMMITMENT DEADLINE
DEVELOPER AGREEMENT AND PHASE 1 LEASE
(GOLDEN GATE GOLF COURSE HOUSING PROJECT)
4"
This Extension to Developer Agreement and Phase I Lease is entered into this c day of
May, 2024 (the "Effective Date"), by and between Rural Neighborhoods, Incorporated, a Florida
not-for-profit corporation, Renaissance Hall at Old Course, LLC, (collectively "Developer or
Rural Neighborhoods") and Collier County, a political subdivision of the State of Florida
("County").
RECITALS:
WHEREAS, Rural Neighborhoods has been selected by the Board of Collier County
Commissioners ("Board") through a Developer Agreement, dated November 10, 2020, to
construct rental apartments to meet a crisis in the housing affordability and availability to seniors,
veterans, and essential service personnel such as health care workers, educational staff and first
responders that impacts the economic,commercial,and residential development of the community;
and
WHEREAS, this housing project has come before the Board of County Commissioners
several times with the most recent presentation on March 26, 2024, which included approval of
the Phase I and 2 Ground Leases, easements, and an amended Developer Agreement for Phases 1
and 2; and
WHEREAS, after several extensions, both the Developer Agreement and Phase I Lease
now require the Developer to secure a commitment of project funding by May 30, 2024; and
WHEREAS, the Developer has requested an additional extension of the deadline to June
30, 2024; and
WHEREAS, the Parties wish to extend the deadline as requested by the Developer.
WITNESSETH:
NOW, THEREFORE, the County and Developer agree as follows:
1. The recitals above are true, correct, and incorporated herein.
2. The financing commitment deadline in both the Developer Agreement and Phase I
Lease is hereby extended to June 30,2024.
3. Except as modified by this Extension,the Developer Agreement and Phase I Lease
shall remain in full force and effect until such time as further amended.
IN WITNESS HEREOF, the parties hereto have set their hands and seals the day and year
first written above.
1
OGY>s°
AS TO THE DEVELOPER: Rural Neighborhoods, Incorporated,
a Florida not-for-profit corporation
Witness (signature)
By:
..)N 1 FE fL A . 6 L-P f_D 1 O S - 1.1111" President
(print name)
Witness (signature)
(Z.OD.SEV £ EoA-3"Ah2. L
(print name)
Renaissance Hall at Old Course, LLC
Witness (signature)
By: Rural Neighborhoods, Incorporated,
-N . �-?AID a Florida not-for-profit corporation, its sole
(print name) member
Witness (signature) By: 411161 `
t�7"res.:-
R 0 SS VEST LEo 0V-i4 <.�
(print name)
2
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AS TO COUNTY: BOARD OF COUNTY COMMISSIONERS,
COLLIER COUNTY, FLORIDA
ATTEST: 4;
CRYST° :K.KINZEL7 Clerk
///446
`` By:
CH HALL, CHAIRMA
leir/ s�
ttes` , C+�airma�+s DEPUTY CLERK
signathr*.afttY
Approved to form and legality:
Sal A ar,Assistant County Attorney
s1,
3
GPO