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CI <br />C-1 <br />0 <br />CRA Care Centers, Inc. <br />1933 Commonwealth Lane <br />Tallahassee, Florida 32303 <br />April 2, 1999 <br />Mr. Kenneth Macht, Chair <br />Indian River County Board of County Commissioners <br />1840 251h Street <br />Vero Beach, Florida 32961 <br />Re: Initial Participating Party Commitments <br />Mr. Macht: <br />CRA Care Centers, Inc. (CRA Care) hereby makes the Following commitments to the Indian <br />River County Board of County Commissioners. CRA Care will <br />1. Construct an assisted living facility in unincorporated Indian River County, <br />2. Invest more than $1,500,000 in private funds to purchase land and develop the facility, <br />3. Create a minimum of 26 full time equivalent jobs at the ALF within 24 months of the <br />County's grant agreement with the Florida Department of Community Affairs, with a <br />minimum of 14 (over 51 %) of those jobs being for low to moderate income persons, <br />4. Enter into a legally binding participating party agreement with the County upon the <br />County's receipt of CDBG economic development funds for this project, and <br />5. Comply with local, state and federal requirements applicable to developing, licensing and <br />operating the assisted living facility and receiving Community Development Block Grant <br />funds. <br />This commitment is conditioned upon the availability of non-CDBG loan funds which are <br />anticipated to be received by CRA Care Centers, Inc. for the development of the facility, and <br />upon actions of the Indian River County Board of County Commissioners (the County). The <br />County will <br />1. Apply for (between April 14 and April 20, 1999) and receive (if awarded) a $750,000 <br />Economic Development Community Development Block Grant from the Florida Department <br />of Community Affairs. <br />2. Issue $690,000 of the CDBG funds to CRA Care in the form of a 4% interest loan, to be <br />issued for furnishings and equipment (approximately $140,000 for seven years) and building <br />construction (approximately S550,000 for twenty years), <br />3. Finance the extension of an essential wastewater Force main to the ALF site on 66th <br />Avenue (Schumann Drive) through a developer agreement with CRA Care, charging CRA <br />Care only for the normal 515.77 per foot assessment, and <br />3. Allow CRA Care to provide a water main extension to loop the existing (lead end 6" line <br />on 66th Avenue to 64th Avenue or lather appropriate route as determined by CRA. in order to <br />provide adequate fire flog.+ for the building`s sprinkler system. <br />