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1992-04 Agmt with Florida National Properties for Development & Financing of 7 Acre Park VOID VOID RESOLUTION NO. 92 - 4 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF PARKLAND. FLORIDA, AUTHORIZING THE CITY OFFICIALS TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF PARKLAND AND FLORIDA NATIONAL PROPERTIES FOR THE FINANCING AND DEVELOPMENT OF THE SEVEN (7) ACRE PARK WHEREAS. the City Commission of the City of Parkland finds and determines that it is in the best interests of the citizens of the City to enter into the attached Agreement between the City of Parkland and Florida National Properties for the financing and development of the seven (7) acre park as described in Exhibit A attached hereto and made a part hereof; NOW. THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF PARKLAND. FLORIDA: Section 1. That the appropriate City officials are hereby authorized to approve the attached Agreement between the City of Parkland and Florida National Properties. Section 2. That this Resolution shall be in full force and effect immediately upon its passage and adoption. PASSED AND ADOPTED THIS DAY OF . 1991. SAL PAGLIARA. MAYOR SUS"AN ARMSTRONG. C.M.C. ~ITY CLERK. City of Parkland 6500 Parkside Drive Parkland, Florida 33067 (305) 753.5040 Fax (305) 341-5161 *;~(~ September 20, 1991 Mr. Jack Ryan Coral Ridge Properties, Inc. 3300 University Drive Coral Springs, FL 33065 Dear Jack: As discussed at the first Public Hearing on the City of Parkland's 1991/92 Annual Budget, the City Commission has agreed to funding $25,000 in the coming Budget year and an additional $65,000 in the 1992/93 fiscal year for the City's share of development costs for the park at Holmberg Road and University Drive. The City Attorney has prepared the attached agreement which the City Commission may discuss at the final Budget Hearing on September 24, 1991. We await your thoughts and endorsement, if necessary, from your firm's Legal Department. rtt:~YAR~ ~rh'JMer~z- - cJ City Manager HM/abk 91 - 620 ~ -- ANDREW MAURODIS. ESQ. 3054804490 P.02 , DRAFT AGREEMENT THIS AGREEMENT is entered into between CITY OF PARKLAND (CITY) and FLORIDA NATIONAL PROPERTIES (FNP) as follows: WHEREAS, the City of Parkland owns a seven acre parcel of proper- ty more particularly described on Exhibit A (the PROPERTY); and WHEREAS, both the city of Parkland and FNP wish to have this parcel developed; and WHEREAS, FNP wishes to jointly participate with the City of parkland to assure the speedy development of this park for recreation- al purposes; NOW, THEREFORE, BE IT AGREED BY AND BETWEEN THE PARTIES AS FOLLOWS: section 1. The representations above are true and correct and made a binding part hereof. section 2. Pursuant to the terms and conditions hereof, the parties agree to use their best efforts to develop the PROPERTY as an active park by January 1, 1993. The park will contain the following facilities: a. Four (4) tennis courts b. Little League Baseball field c. Multi-purpose playing field (soccer/football) d. Restroom facilities e. parking areas in proximity to various facilities f. A tot lot q. Basketball and volley ball courts (if space permits) Section 3. The parties also agree to use their best efforts to obtain the abandonment of old Holmberg Road, upon the reconstruction of the realiqnment of Holmberg Road, to add approximately 1.3 acres to the PROPERTY. Section 4. The park will be funded in the following manner: The CITY shall be responsible tor funding $90,000.00; FNP shall be respon- ANDREW MAURODIS, ESQ. 3054804490 P.03 , sible for funding the remainder of the costs for development of the Park. Section 5. CITY shall budget $25,000 in its 1991-1992 fiscal year budget and $65,000 in its 1992-1993 fiscal year budget. These funds shall be set aside for the funding as described above. Section 6. FNP shall begin construction of the park upon receiv- ing site plan approval from the City Commission of the city of Parkland. ~NP shall submit a site plan meetinq the requirements of section 2 for said park in January of 1992 for review by the CITY staff and Planning and zoninq Board and for ultimate approval by the City Commission. The city may require changes in the plan consistent with the scope and nature of the park as described herein. Section 7. Upon approval of the site plan by the CITY, FNP shall commence the actions necessary for construction of the park. Upon receiving site plan approval from the CITY, FNP shall, within sixty (60) days, enter into a binding contract for the construction of the park as set forth in the site plan. Said contract shall require commencement within fifteen (15) days of execution and substantial completion of the the park facilities (such that the facilities are available for use) within one hundred eighty (180) days of commence- ment of construction. Section 8. FNP shall provide appropriate payment and performance bonding as required by Florida statutes for construction on City owned property and shall be responsible for the construction of the park. FNP shall assure that the bond remains in force for one year after the completion of construction. FNP shall hold the City of Parkland harmless from any causes of action, damages, judgments, liability or other obligations that may arise as a result of the construction of the park or defects in the construotion of the park. Section 8. The CITY shall make its payment of $90,000 to Florida National Properties upon execution of an affidavit certifying substan- tial completion of the park facility and determination by the City Building Official that the park is substantially complete and appro- priate for use by the pUblic and that all payments for construction of the park have been made by FNP. section 9. The CITY shall have the right to review all invoices and documents indicating expenditures of FNP on the park construction design. Section 10. The drafting of this Agreement is a joint endeavor of the parties and shall not, strictly as a matter of judicial construc- tion, be construed more strictly against one party than the other. ANDREW MAURODIS. ESQ. 3054804490 P.04 " . Section 11. This 1s the entire agreement between the parties and may not be amended exoept by a document exeouted with equal dignity. section 12. The effeotive date of this Agreement shall be the last day upon Which either party affixes its signature thereto. WITNESSES: FLORIDA NATIONAL PROPERTIES By: Title: CITY OF PARKLAND, a munioipal corporation ATTEST: By: Title city Clerk City of Parkland 6500 Parkside Drive Parkland, Florida 33067 (305) 753-5040 Fax (305) 341-5161 October 21, 1991 Mr. Jack Ryan Coral Ridge Properties, Inc. 3300 University Drive Coral Springs, Florida 33065 Dear Jack: As you know, the City Commission tabled and continued the agreement between the City and Coral Ridge Properties for financing and development of the 7 acre park at Holmberg Road and University Drive. The draft is attached for your review and internal distribution. Please let us schedule a meeting once you have compiled your firm's comments on the proposed draft and following my compilation of suggestions from the City Commission on the agreement. ~~.. .. The ,: y Commission Nove er 20, 1991 me early vember. ___..- esires to again address the matter at its ing so we will need to meet and confer in HM/abk cc: Mr. Andrew Maurodis, City Attorney Mrs. Susan Armstrong, City Clerk 91 - 694