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2003-325
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2003-325
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Last modified
12/20/2016 12:10:05 PM
Creation date
9/30/2015 7:09:04 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Contract
Approved Date
12/02/2003
Control Number
2003-325
Agenda Item Number
7.O.
Entity Name
Florida Department of Community Affairs
Subject
Orca South Link LAAC Site
Archived Roll/Disk#
3208
Supplemental fields
SmeadsoftID
3541
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r <br /> FCT Contract Number _ -CT- - `- <br /> FLORIDA COMMUNITIES TRUST <br /> 0 08 .3 - FF 3 <br /> ORCA SOUTII LININ <br /> CSFA " - 52002 <br /> GRANT CONTRACT <br /> THIS AGREEMENT is entered into on , 200_, the date <br /> the last party executes this Agreement, by and between the FLORIDA COMMUNITIES TRUST <br /> ( FCT ) , a nonrcgulatory agency within the State of Florida Department of Community Affairs , <br /> and INDIAN RIVER COUNTY , a local government of the State of Florida ( Recipient ) . The <br /> intent of this Agreement is to impose terms and conditions on the use of the proceeds of certain <br /> bonds , hereinafter described , and the lands acquired with such proceeds ( Project Site ) , that are <br /> necessary to ensure compliance with applicable Florida law and federal income tax law and to <br /> otherwise implement provisions of Sections 259 . 105 , '159 . 105 1 , and Chapter 380 , Part [ II , <br /> Florida Statutes ( F . S . ) . <br /> WHEREAS , Chapter 380 , Part III , F . S . , the Florida Communities Trust Act , creates a <br /> nonrcgulatory agency within the Department of Community Affairs ( Department) that will assist <br /> local governments in bringing local comprehensive plans into compliance and implementing the <br /> goals, objectives , and policies of the conservation , recreation and open space , and coastal <br /> management elements of local comprehensive plans , or in conserving natural resources and <br /> resolving land use conflicts by providing financial assistance to local governments and nonprofit <br /> environmental organizations to carry out projects and activities authorized by the Florida <br /> Communities Trust Act ; <br /> WHEREAS , Section 259 . 105 ( 3 )( c ) , F . S . , of the Florida Forever Act provides for the <br /> distribution of twenty - two percent ( 22 % ) less certain reductions of the net Florida Forever <br /> Revenue Bond proceeds to the Department to provide land acquisition grants to local <br /> governments and nonprofit environmental organizations through the FCT for acquisition of <br /> community -based projects , urban open spaces , natural resource conservation areas , parks , <br /> greenways and outdoor recreation areas to implement local comprehensive plans ; <br /> WHEREAS , the Bonds are issued as tax -exempt bonds , meaning that the interest on the <br /> Bonds is excluded from the gross income of bondholders for federal income tax purposes ; <br /> WHEREAS , Rule Chapter 9K- 7 , Florida Administrative Code ( F . A . C . ) , describes the <br /> procedures for evaluation and selection of lands proposed for acquisition using funds allocated to <br /> the FCT through the Department from the Florida Forever Trust Fund ; <br /> 03-084- FF3 <br /> November 18, 2003 <br /> Reimbursement Acquisition <br /> - I - <br />
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