HomeMy WebLinkAbout2010 - Grant Award - Dancu Parcel Local Government Name: CITY OF SEBASTIAN
Project Name: SEBASTIAN WORKING WATERFRONT COLLABORATIVE-Dancu Parcel
FCT Project#: 08-003-WW1
Date: 10-Jun-10
GRANT AWARD CALCULATION STATEMENT
TOTAL PROJECT COSTS
Land Purchase Price
Dancu Parcel $2,300,000.00
Total Land Purchase Price $2,300,000.00
Acquisition Expenses
Appraisal Review-Dancu $ 3,000.00
Title Work-appraisals-Dancu $ 1,800.00
Appraisals-Dancu $ 10,600.00
Environmental Site Assessment-Dancu $ 2,600.00
Survey-Dancu $ 3,830.00
Title Insurance&Report-Dancu $ 8,850.00
Total Acquisition Expenses $ 30,680.00
Total Project Costs $ 2,330,680.00
COMPUTATION OF GRANT AWARD AND LOCAL MATCH AMOUNT
FCT Award Computation(90%)
Share of Purchase Price $2,070,000.00
Share of Acquisition Expenses 27,612.00
Total Share of Project Costs $2,097,612.00
City Award Computation(10%)
Share of Purchase Price $ 230,000.00
Share of Acquisition Expenses $3,068.00
Total Share of Project Costs $ 233,068.00
Total Project Costs $ 2,330,680.00
COMPUTATION OF PREPAID,REIMBURSEMENTS,ADDITIONAL COSTS AND AMOUNTS DUE AT CLOSING
FLORIDA COMMUNITIES TRUST
FCT Prepaid Project Costs
Appraisal Reviews 3,000.00
Appraisals 10,600.00
Title Reports 1,800.00
Total Prepaid Costs $ 15,400.00
FCT Amount Due at Closing
Share of Total Project Costs $ 2,097,612.00
Less Total Prepaid Costs 15,400.00
Total Amount Due From FCT $ 2,082,212.00
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Local Government Name: CITY OF SEBASTIAN
Project Name: SEBASTIAN WORKING WATERFRONT COLLABORATIVE-Dancu Parcel
FCT Project#: 08-003-WW1
Date: 10-Jun-10
Page 2
CITY OF SEBASTIAN
Prepaid Costs
Total Prepaid Costs $0.00
City Amount Due
Share of Total Project Costs $ 233,068.00
Less Share of Total Prepaid Costs $0.00
Total Amount Due From City $233,068.00
Notes:
(1) Pursuant to a memo dated June 1,2010 from Jay Scott to Kristen Coons,the Maximum Approved Purchase
Price is$2,300,000.00.
Pursuant to the Grant Contract,FCT will reimburse for the land cost at either the actual purchase price or the Maximum
Approved Purchase Price,whichever is less.
According to the Grant Contract and addendums,the amount of the grant shall not exceed the lesser of$3,163,500.00
or 90%of the final total project costs.
The foregoing reconciliation of Purchasers'costs is hereby approved by the undersigned.
FLORIDA COMMUNITIES TRUST
CITY a F S/=ASTIAN
By:
B I .� - . Ken Reecy,Community Progra anager
•rin �'=*e. Florida Commun gs Trtia
Title: Date: `‘ >
Date:
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