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Home My WebLink AboutR-21-27 Parking in Lieu 480 US#13120210073617 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH. CLERK OF COURT INDIAN RIVER COUNTY FL BK: 3475 PG'. 2148 Page 1 of 8 10212021 11:38 AM RESOLUTION NO. R-21-27 A RESOLUTION OF THE CITY OF SEBASTIAN, FLORIDA, APPROVING PARTICIPATION FOR PROPERTY OWNER RIVER PARK PLAZA, LLC, IN THE PARKING -IN -LIEU PURCHASE PROGRAM, LIEN AGREEMENT AND COVENANT RUNNING WITH THE LAND, FOR PROPERTY LOCATED AT 480 U.S. HIGHWAY #1, 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, River Park Plaza, LLC, wishes to participate in the Parking -In -Lieu Purchase Program and purchase two (2) parking spaces for property located at 480 U.S. Highway#1; 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 All resolutions or parts of resolutions in conflict herewith are hereby repealed.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 Manager's 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 Hill The motion was seconded by McPartlan 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 13"' day of October. 2021. CITY OF SEBASTIAN, FLORIDA By: (VLK_24� Mayor Ed Dodd ATTEST: r 1A )Jh&,, 4 anette Williams, MMC City Clerk Approved as to form and content for relian b the C' S b is only: ay(ny Ano , r.,Tzsq. Cif Attomey ATTACHMENT PARHING-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 River Park Plaza, LLC, as "Owners", of the property located at 480 U.S. Highway #1, Sebastian, Florida. 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, a recently approved site plan for the subject property to add an additional outside seating area requires 2 additional parking spaces which are not available on -site; and WHEREAS, the Owners have decided to participate in the Parking -In -Lieu Purchase Program and purchase two (2) 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 two (2) additional public parking spaces for the benefit of the development of their property located at 480 U.S. Highway #1. 2. FEE. The fee for 2 parking spaces at $3,200 per space, as established by Resolution R-10- 35, totals six thousand four hundred dollars ($6,400.00). 3. PAYMENT AND INTEREST. Owner agrees to make monthly payments to the City of $100.00 for seventy-two (72) 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 $7,105.00. Payment is due to the City the first of every month, starting November 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 maybe 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 "Owner": River Park Plaza, LLC City of Sebastian P.O. Box 506 1225 Main Street Dania Beach, FL 33004 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: ette Williams, MMC ity Clerk OWNER• By. 7 o Cataldo, Manager River Park Plaza, LLC STATE OF FLORIDA COUNTY OF INDIAN RIVER CITY OF SEBASTIAN, FLORIDA By. _ PC Carlisle, City Manager Date: /OGS'A Approved as to form and legality for relianceby a Cit S as ' my M YAn, T, 'r Y Date: The foregoing instrument was acknowledged before me this V' day of "l , 2021, by Joseph Comido, who is personally ]mown to me or both produced _ (identification). SEAL ��rrrr��... �glate of Bbaaa �� 616T]B9 4 NOTARY P UBLSC Print Name: rth I L.La RS Commission No. I-ll{ III?-71bgJ Expvatiom 06pol uj1s- EXHIBIT A Amortization Schedule Date Interest Principal Balance Nov, 2021 S19 S80 $6,320 Dec, 2021 $18 $80 $6,240 2021 $37 $160 $6,240 Jan, 2022 $18 $80 $6.159 Feb,2022 $18 $81 $6,079 Mar, 2022 $18 $81 $5.998 Apr, 2022 $17 Sol $5.916 May, 2022 $17 $81 $5.835 Jun,2022 $17 $82 $5.753 Jul. 2022 $17 S82 $5,671 Aug, 2022 S17 582 $5,589 Sep,2022 $16 $82 $5.507 Oct, 2022 $15 $83 $5.424 Nov, 2022 $16 $83 $5.341 Dec, 2022 $16 $83 $5.258 2022 $203 $981 $5,258 Jan,2023 $15 S83 55,175 Feb,2023 $15 $84 $5,091 Mar, 2023 $15 $84 $5,008 Apr, 2023 S15 $84 $4,924 May. 2073 514 $84 $4,839 Jun,2023 $14 $85 $4.755 Jul, 2023 $14 S85 $4,670 Aug.2023 $14 $85 54.585 Sep,2023 $13 S85 $4.499 Oct, 2023 S13 $e6 $4,414 Nov, 2023 $13 Sao $4.328 Dec, 2023 $13 $86 $4.242 2023 $168 $1.016 $4,242 Jan. 2024 $12 $86 54,156 Feb.2024 $12 $87 $4,069 Mar, 2024 $12 $87 $3,982 Apr, 2024 $12 $87 $3,895 May, 2024 $11 $87 $3.808 Jun,2024 S11 $in $3,720 Jul, 2024 S11 $88 $3.633 Aug,2024 S11 $88 $3,545 Sep,2024 $10 $88 $3,456 Oct, 2024 $10 $89 $3.366 Nov, 2024 $10 $89 $3.279 Dec, 2024 $10 $89 53,190 2024 $132 $1.052 $3.190 Jan, 2025 $9 S89 $3,100 Dale Interest Principal Balance Feb,2025 £9 $90 $3,011 Mar, 2025 $9 S90 $2,921 Apr. 2025 $9 S90 $2,831 May, 2025 S8 $90 $2,740 Jun,2025 $8 $91 $2,649 Jul, 2025 $e $91 $2.559 Aug,2025 $7 $91 $2,467 Sep.2025 S7 $91 $2,376 Oct, 2025 57 $92 $2.284 Nov, 2025 $7 $92 $2,192 Dec,2025 $6 S92 $2,100 2025 $94 $1,090 $2,100 Jan, 2026 $6 $93 $2,007 Fab,2026 $6 $93 $1,914 Mar, 2026 $6 $93 $1,821 Apr, 2026 $5 $93 $1,728 May, 2026 $5 $94 $1.634 Jun.2026 $5 $94 $1.540 $1,446 Jul, 2026 $4 $94 Aug,2026 54 $94 �$1,352 Sep,2026 54 $95 $1,257 Oct, 2026 $4 $95 $1.162 Nov, 2026 $3 $95 $1,067 Dec, 2026 53 $96 $971 2026 $56 $1.129 $971 Jan,2027 $3 $96 $875 Feb,2027 S3 $96 $779 Mar. 2027 52 $96 $683 Apr, 2027 $2 $97 5586 May. 2027 $2 $97 $489 Jun,2027 51 $97 $392 Jul, 2027 Si $98 $294 Aug,2O27 51 $0 $196 Sep. M27 $1 $98 $98 Oct, 2027 $0 $98 $0 20V $16 $971 $0 EXHIBIT B Indian River County Tax Parcel: 31-39-06-00020-0090-00016.0 Legal Description: EDGEWATER PARK SUB PBI 1-23 LOT 16, LESS HWY R/W & LOTS ITTO 22INC LESS N 20 FT OF LOT 21 & 22 BL K 9 & ALSO LESS THE NLY 10.0 FT OF AFORESAID LOTS 16 THRU 20 INC & ALSO INC LOTI, LESS H WY R/W & LOTS 2 & 3 PLUS ABND J EFFERSON ST ABUTTING LOT 1,2 & 3 BLK 10(OR BK 494 PG 138)