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AGREEMENT BETWEEN INDIAN RIVER COUNTY AND EVERY DREAM HAS A PRICE, INC. FOR DONATION OF SURPLUS COUNTY OWNED LANDS This Agreement for Donation of Surplus County -Owned Lands ("Agreement") is made and entered as of this 4th day of June, 2019 ("Effective Date"), by and between Indian River County, a political subdivision of the State of Florida ("County"), and Every Dream Has a Price, Inc., a Florida not-for-profit corporation ("Applicant"). BACKGROUND RECITALS: WHEREAS, County, pursuant to the requirements of Section 125.379, Florida Statutes, prepared a list of County -owned land appropriate for the provision of affordable housing; and WHEREAS, County, on June 4, 2019, following a duly noticed public hearing, adopted Resolution 2019- o 4 o , finding that eight (8) County -owned parcels, as set forth therein, were appropriate for the provision of affordable housing; and WHEREAS, County agreed to donate the parcels to non-profit housing organizations for the construction of rental units for extremely -low-income, very -low-income, and low-income households; and WHEREAS, Applicant is a Florida non-profit corporation and a corporation organized exclusively for charitable, religious, literary, scientific, and educational purposes as set forth in section 501(c)(3) of the Internal Revenue Code of 1986, as amended ("Section 501(c)(3) Entity"), and specifically organized for the purpose of building, rehabbing, and revitalizing homes and/or rental units for very -low --income and low-income households; and WHEREAS, Applicant has formally requested that the County donate the parcels shown in Exhibit "A" attached hereto and made a part hereof (each such parcel herein referenced as a "Lot") to Applicant for the construction of rental units for extremely -low-income, very -low-income, and low-income households; and WHEREAS, Applicant has submitted its qualifications demonstrating its ability to construct affordable rental units on the donated parcels. NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, County and Applicant agree as follows: ARTICLE 1 GENERAL REQUIREMENTS 1.1. Applicant shall construct and complete, through the receipt of a Certificate of Occupancy, one or more affordable housing rental units on each Lot or combination of lots as permitted by the zoning of each Lot, within three (3) years of the date of the deed of conveyance of the Lots to Applicant. If a Certificate of Occupancy is not issued for any of the single family residences or duplexes on any Lot within the referenced 3 year timeframe, the title to any such Lot shall revert to the County unless an extension of the three (3) year 11; F:\Community Development\COUNTY OWNED LANDS\2019\AGREEMENT BETWEEN IRC AND EDHAP.d