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TO: Board of County Commissioners <br />FROM: Charles P. Vitunac, County Attorney <br />DATE: October 23, 1987 <br />RE INDIAN RIVER COUNTY HOUSING AUTHORITY AGREEMENTS <br />B.C.C. MEETING November3, 1987 <br />Pursuant to earlier directive of the Board of County <br />Commissioners attached are two agreements relating to the <br />Indian River County Housing Authority. The first agreement <br />is between the Housing Authority and the County and requires <br />the Authority to convey the land covered by Phase If of the <br />Victory- Park Project if and when the County is required by <br />the State of Florida to pay off the loan, which is secured <br />by the Phase II land. <br />The second agreement is the guaranty agreement between the <br />State of Florida, Department of Community Affairs, and the <br />County which would require the County to make good on the <br />Phase If loan if the Housing Authority has not paid the loan <br />off by April 18, 1988. This agreement was discussed by <br />Commissioner Eggert and me in Tallahassee with Gordon <br />Johnston, attorney for the D.C.A., and it was his official <br />position that if the county did not execute this agreement <br />soon, the state would take immediate action against the <br />Housing Authority's delinquent loan. <br />Both agreements are recommended for approval. <br />Commissioner Eggert expected that Margaret Rocke, who will <br />be replacing Daphne Strickland, will be available to attend the <br />next meeting. <br />31 <br />®V 3 1987 <br />BOOK .70 O PACE 33 <br />