HomeMy WebLinkAboutFTC Grant Award Calculation - Dabrowski Parcel , Luca!Government Name: CITY OF SEBASTIAN
,Project Name: SEBASTIAN WORKING WATERFRONT COLLABORATIVE
DABROWSKI PARCEL
FCT Project#: 08-003-WW1
Date: 10-Jun-10
GRANT AWARD CALCULATION STATEMENT
TOTAL PROJECT COSTS
Land Purchase Price
Dabrowski Parcel $ 750,000.00
Total Land Purchase Price $750,000.00
Acquisition Expenses
Appraisal Review-Dabrowski $ 1,751.00
Title Work-appraisals-Dabrowski $ 400.00
Appraisals-Dabrowski $ 5,050.00
Environmental Site Assessment-Dabrowski $ 2,600.00
Survey-Dabrowski $ 4,975.00
Title Insurance&Report-Dabrowski $ 4,625.00
Total Acquisition Expenses $ 19,401.00
Total Project Costs $ 769,401.00
COMPUTATION OF GRANT AWARD AND LOCAL MATCH AMOUNT
FCT Award Computation(90%)
Share of Purchase Price $450,000.00
Share of Acquisition Expenses 17,460.90
Total Share of Project Costs $467,460.90
City Award Computation(10%)
Share of Purchase Price $ 300,000.00
Share of Acquisition Expenses $1,940.10
Total Share of Project Costs $ 301,940.10
Total Project Costs $ 769,401.00
COMPUTATION OF PREPAID,REIMBURSEMENTS,ADDITIONAL COSTS AND AMOUNTS DUE AT CLOSING
FLORIDA COMMUNITIES TRUST
FCT Prepaid Project Costs
Appraisal Reviews 1,751.00
Appraisals 5,050.00
Title Reports 400.00
Total Prepaid Costs $ 7,201.00
FCT Amount Due at Closing
Share of Total Project Costs $ 467,460.90
Less Total Prepaid Costs 7,201.00
Total Amount Due From FCT $ 460,259.90
Lonal Government Name: CITY OF SEBASTIAN
• f Project Name: SEBASTIAN WORKING WATERFRONT COLLABORATIVE
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 $ 301,940.10
Less Share of Total Prepaid Costs $0.00
Amount Due From City $301,940.10
City Additional Costs
Record Declaration of Restrictive Covenants 110.50 (2)
Total Additional Costs 110.50
TOTAL DUE FROM CITY
Share of Project Costs $301,940.10
Total Additional Costs 110.50
Total Due From City $302,050.60
Notes:
(1) Pursuant to a memo dated June 1,2010 from Jay Scott to Kristen Coons,the Maximum Approved Purchase
Price is$500,000.00.
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.
(2) Disbursed to Clerk of the Court, Indian River County,for the recording of the Declaration.
The foregoing reconciliation of Purchasers'costs is hereby approved by the undersigned.
FLORIDA COMMUNITIES TRUST
CITY OF EB '. IAN
By:
B . //, 7, Ken Reecy,Community Program nager
Prin N.r e: Florida Communities Trust
Title: Date:
Date:
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