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Home My WebLink AboutR-21-09 Graham - Parking in Lieu3120210048708 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH, CLERK OF COURT INDIAN RIVER COUNTY FL BK: 3440 PG; 2449 Page 1 of 12 7/72021 10:28 AM RESOLUTION NO. R-21-09 A RESOLUTION OF THE CITY OF SEBASTIAN, FLORIDA, APPROVING PARTICIPATION FOR PROPERTY OWNERS, JOSEPH P. AND MARTHA S. GRAHAM, IN THE PARKING -IN -LIEU PURCHASE PROGRAM, LIEN AGREEMENT AND COVENANT RUNNING WITH THE LAND, FOR PROPERTY LOCATED AT 807 INDIAN RIVER DRIVE, SEBASTIAN, FLORIDA; PROVIDING FOR CONFLICTS, SCRIVENERS ERRORS; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, the City Council of the City of Sebastian has determined that it is in the public interest to allow businesses within the Riverfront area the opportunity to utilize public parking to meet their parking needs; and WHEREAS, Joseph P. & Martha S. Graham wish to participate in the Parking -In - Lieu Purchase Program and purchase three (3) parking spaces for property located at 807 Indian River Drive; NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF SEBASTIAN, as follows: Section 1. The City Council approves the Parking -In -Lieu Purchase Program Agreement, Lien Agreement and Covenant Running with the Land attached hereto as Attachment A, and authorizes the City Manager to execute and record the same. Section 2. CONFLICTS. All resolutions or parts of resolutions in conflict herewith are hereby repealed. Section 3. SCRIVENER'S ERRORS. Sections of this ordinance may be renumbered or re -lettered and corrections of typographical errors which do not affect the intent may be authorized by the City Manager, or the City Managers designee, without need of public hearing, by filing a corrected or re -codified copy of same with the City Clerk. Section 4. EFFECTIVE DATE. This resolution shall take effect immediately upon its adoption. The foregoing Resolution was moved for adoption by Jones The motion was seconded by Mceartlan and, upon being put to a vote, the vote was as follows: Mayor Ed Dodd aye Vice -Mayor Jim Hill aye Council Member Fred Jones aye Council Member Bob McPartlan aye Council Member Christopher Nunn aye The Mayor thereupon declared this Resolution duly passed and adopted this 23rd day of June,2021. CITY OF SEBASTIAN, FLORIDA By: ems( U.0 Mayor Ed Dodd ATTESST::{ / J nette Williams, MMC ity Clerk Approved as to form a me t for relian the Ci f Se as' only: ny An r., s City Atto ey ATTACHMENT A PARKING -IN -LIEU PURCHASE PROGRAM AGREEMENT LIEN AGREEMENT COVENANT RUNNING WITH THE LAND (hereinafter collectively referred to as "Agreement') THIS AGREEMENT is between the City of Sebastian, a Florida municipal corporation, as "City", and Joseph P. and Martha S. Graham, as "Owners", of the property located at 807 Indian River Drive, Sebastian, FL. WHEREAS, the City Council of the City of Sebastian finds that providing public parking to assist private businesses meet their parking needs is an economic benefit to the entire community; and WHEREAS, the requirements for parking are outlined in Sec. 54-3-15 of the City's Land Development Code and include an In Lieu of Parking Program allowing businesses to purchase parking to meet their parking requirements; and WHEREAS, the recently approved site plan for the subject property to change the business use from retail to restaurant requires 6 parking spaces and provides 3 on the site; and WHEREAS, the Owners have decided to participate in the Parking -In -Lieu Purchase Program and purchase three (3) additional spaces from the City. NOW THEREFORE, in consideration of the mutual promises and obligations stated herein, the City and Owners do hereby incorporate all terms and conditions in this Agreement and mutually agree as follows: 1. PURPOSE. The purpose of this agreement is to provide the Owners with the non-exclusive use of three (3) additional public parking spaces for the benefit of the development of their property located at 807 Indian River Drive. 2. FEE. The fee for 3 parking spaces at $3,200 per space, as established by Resolution R-10- 35, totals nine thousand six hundred dollars ($9,600.00). 3. PAYMENT AND INTEREST. Owner agrees to make monthly payments to the City of $95.00 for one -hundred and twenty (120) months, including interest at the rate of three and one half percent (3.5%) per annum, in accordance with the loan summary and amortization schedule in Exhibit A, attached hereto and incorporated herein by this reference, for a total of $11,400.00. Payment is due to the City the first of every month, starting August 1, 2021. 4. ESTABLISHMENT OF LIEN. This Agreement, and the obligations created hereunder, is secured by a lien upon the property described in Exhibit B, attached hereto and incorporated herein by this reference. Such lien shall be of equal dignity with the lien for taxes and shall be enforceable in the same manner as provided by law, and may be satisfied at any time by payment thereof, including accrued interest. Upon such payment, the City shall, by appropriate means, evidence the satisfaction and cancellation of such lien upon the record thereof. Notice of such lien may be filed in the office of the clerk of the circuit court and recorded among the public records of Indian River County. 5. COVENANT RUNNING WITH THE LAND. This Agreement shall constitute a covenant running with the land and shall be binding upon the heirs, successors and assigns of the parties. 6. NON EXCLUSIVE USE AND OWNERSHIP. The parking spaces are for the non- exclusive use by the Owners, and the City shall retain fee ownership of the public parking spaces. 7. LIMITS OF USE. This Agreement confers no rights upon the Owners to place any advertisement, notices or signage. The City expressly retains all such rights. The Owners shall make no use of the parking spaces except as specifically authorized in this Agreement. 8. SUCCESSORS AND ASSIGNS. This Agreement and each of its terms and conditions shall be binding upon the parties and their respective successors and assigns. There shall be no assignment of this Agreement or any of the rights or obligations herein, without the advance written consent of the City. 9. NOTICES. All notices required by this agreement shall be in writing and delivered either by registered or certified mail to the other party at the address given below: "City": City Manager "Owners": Joseph P & Martha S. Graham City of Sebastian 13995 Ruffner Lane 1225 Main Street Sebastian, FL 32958 Sebastian, FL 32958 Any party may change address or designee by giving written notice of such change to the other parties. 10. REMEDIES. This Agreement provides the Owners with the necessary parking spaces required by the Code of the City of Sebastian only during such time as the Owners are current with respect to their financial obligations described herein. If any party shall fail to perform any term or condition hereof, and continue such nonperformance for a period of ninety days after receiving a notice of default, it shall be subject to such administrative, contractual, and legal remedies as provided by this Agreement, the Code of Ordinances of the City of Sebastian, and the laws of the State of Florida. Jurisdiction for any court action filed regarding this Agreement shall be in a court of competent jurisdiction in Indian River County, Florida. 11. GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida. 12. RECORDING. The City shall be responsible for recording this Agreement in the Official Records of Indian River County and the Owners shall pay all recording fees. A copy of the recorded Agreement shall be provided to the Owners by the City within fifteen (15) business days after recording. 13. EFFECTIVE DATE. This Agreement shall be effective upon the execution of the last party to sign. ATTEST: W anette Williams, MMC tty Clerk OW ERS: a oseph P. Graham By:�,AV��c`��alti Martha S. Graham STATE OF FLORIDA COUNTY OF INDIAN RIVER CITY OF SEBASTIAN, FLORIDA By:��/ P Carlisle, City Manager e c , Date: I� /19 SEA # rr .� Approved as t form and egality or reliance byIvIe Se as ' ' only — Marp(y Anqi% Jr., Date: 44zotA Date: 61/�'9�7—1 The foregoing insertment was acknowledged before me this day of 2021, by Joseph P. Martha S. Graham, who are personally known to me or both produced (identification). SEAL w ustrt smnn YP C �/� /•'o =n� vi mn sill an rSr w n n Neme: C ,t a . 4, Mrs ��ty �� reef. niu Commission o. Expiration: EXHIBIT A Loan Amount: $9,600.00 Interest Rate: 3.5% Total of Payments: $11,400.00 Amortization Schedule Term:120 months Monthly Payment: $95.00 Total Interest Paid: $1,792.00 Date Interest Principal Balance Aug, 2021 $28 $67 $9,533 Sep, 2021 $28 $67 $9,466 Oct, 2021 $28 $67 $9,399 Nov, 2021 $27 $68 $9,331 Dec, 2021 $27 $68 $9,263 Total 2021 $138 $337 $9,263 Jan, 2022 $27 $68 $9,195 Feb,2022 $27 $68 $9,127 Mar, 2022 $27 $68 $9,059 Apr, 2022 $26 $69 $8,991 May, 2022 $26 $69 $8,922 Jun, 2022 $26 $69 $8,853 Jul, 2022 $26 $69 $8,784 Aug, 2022 $26 $69 $8,715 Sep,2022 $25 $70 $8,645 Oct, 2022 $25 $70 $8,575 Nov, 2022 $25 $70 $8,505 Dec, 2022 $25 $70 $8,435 Total 2022 $311 $828 $8,435 Page 1 of 6 Date Interest Principal Balance Jan, 2023 $25 $70 $8,365 Feb,2023 $24 $71 $8,294 Mar, 2023 $24 $71 $8,224 Apr, 2023 $24 $71 $8,153 May, 2023 $24 $71 $8,082 Jun, 2023 $24 $71 $8,010 Jul, 2023 $23 $72 $7,939 Aug, 2023 $23 $72 $7,867 Sep,2023 $23 $72 $7,795 Oct, 2023 $23 $72 $7,723 Nov, 2023 $23 $72 $7,650 Dec, 2023 $22 $73 $7,578 Total 2023 $282 $858 $7,578 Jan, 2024 $22 $73 $7,505 Feb, 2024 $22 $73 $7,432 Mar, 2024 $22 $73 $7,359 Apr, 2024 $21 $73 $7,285 May, 2024 $21 $74 $7,211 Jun, 2024 $21 $74 $7,137 Jul, 2024 $21 $74 $7,063 Aug, 2024 $21 $74 $6,989 Sep, 2024 $20 $75 $6,914 Oct, 2024 $20 $75 $6,840 Nov, 2024 $20 $75 $6,765 Dec, 2024 $20 $75 $6,690 Total 2024 $251 $888 $6,690 Page 2 of 6 Date Interest Principal Balance Jan, 2025 $20 $75 $6,614 Feb,2025 $19 $76 $6,538 Mar, 2025 $19 $76 $6,463 Apr, 2025 $19 $76 $6,387 May, 2025 $19 $76 $6,310 Jun,2025 $18 $77 $6,234 Jul, 2025 $18 $77 $6,157 Aug 2025 $18 $77 $6,080 Sep,2025 $18 $77 $6,003 Oct, 2025 $18 $77 $5,925 Nov, 2025 $17 $78 $5,848 Dec,2025 $17 $78 55,770 Total 2025 $219 $920 $5,770 Jan, 2026 $17 $78 $5,692 Feb,2026 $17 $78 $5,613 Mar,2026 $16 $79 $5,535 Apr,2026 $16 $79 $5,456 May,2026 $16 $79 $5,377 Jun, 2026 $16 $79 $5,298 Jul,2026 $15 $79 $5,218 Aug 2026 $15 $80 $5,139 Sep,2026 $15 $80 $5,059 Oct, 2026 $15 $80 $4,978 Nov, 2026 $15 $80 54,898 Dec,2026 $14 $81 $4,817 Total2026 $187 $952 54,817 Page 3 of 6 Date Interest Principal Balance Jan, 2027 $14 $81 $4,737 Feb,2027 $14 $81 $4,655 Mar, 2027 $14 $81 $4,574 Apr, 2027 $13 $82 $4,493 May, 2027 $13 $82 $4,411 Jun, 2027 $13 $82 $4,329 Jul, 2027 $13 $82 $4,246 Aug, 2027 $12 $83 $4,164 Sep,2027 $12 $83 $4,081 Oct, 2027 $12 $83 $3,998 Nov, 2027 $12 $83 $3,915 Dec, 2027 $11 $84 $3,831 Total 2027 $153 $986 $3,831 Jan, 2028 $II $84 $3,747 Feb,2028 $II $84 $3,663 Mar, 2028 $11 $84 $3,579 Apr, 2028 $10 $84 $3,495 May, 2028 $10 $85 $3,410 Jun,2028 $10 $85 $3,325 Jul, 2028 $10 $85 $3,240 Aug, 2028 $9 $85 $3,154 Sep,2028 $9 $86 $3,069 Oct, 2028 $9 $86 $2,983 Nov, 2028 $9 $86 $2,896 Dec, 2028 $8 $86 $2,810 Total 2028 $118 $1,021 $2,810 Page 4 of 6 Date Interest Principal Balance Jan,2029 $8 $87 $2,723 Feb,2029 $8 $87 $2,636 Mar, 2029 $8 $87 $2,549 Apr, 2029 $7 $87 $2,461 May, 2029 $7 $88 $2,374 Jun,2029 $7 $88 $2,286 Jul, 2029 $7 $88 52,197 Aug,2029 S6 $89 52,109 Sep, 2029 $6 S89 $2,020 Oct, 2029 $6 $89 $1,931 Nov,2029 $6 $89 $1,842 Dec, 2029 $5 $90 $1,752 Total 2029 $81 $1,058 $1,752 Jan,2030 S5 $90 $1,662 Feb,2030 S5 $90 $1,572 Mar, 2030 $5 $90 $1,482 Apr, 2030 S4 $91 $1,391 May, 2030 $4 $91 $1,300 Jun, 2030 $4 $91 $1,209 Jul, 2030 $4 $91 $1,118 Aug, 2030 $3 $92 $1,026 Sep,2030 $3 $92 $934 Oct, 2030 $3 $92 $842 Nov, 2030 $2 $92 $750 Dec, 2030 $2 $93 $657 Total 2030 $44 $1,095 $657 Page 5 of 6 Date Interest Principal Balance Jan, 2031 $2 $93 $564 Feb, 2031 $2 $93 $471 Mar, 2031 $1 $94 $377 Apr, 2031 $ I $94 $283 May, 2031 $1 $94 $199 Jun, 2031 $1 $94 $95 Jul, 2031 $0 $95 $0 Total 2031 $8 $657 $0 Page 6 of 6 EXHIBIT B Indian River County Tax Parcel: 31-39-06.00020-0020-00012.0 Legal Description: Lot 12, Block 2, Edgewater Park Subdivision PBI 1-23