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2024-017
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2024-017
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Last modified
2/8/2024 12:11:05 PM
Creation date
2/8/2024 11:05:00 AM
Metadata
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Template:
Official Documents
Official Document Type
Agreement
Approved Date
01/09/2024
Control Number
2024-017
Agenda Item Number
13.B.
Entity Name
Indian River County Habitat for Humanity, Inc. (HFH
Subject
Agreement to Purchase and Sell Real Estate Donation of Former Gifford Gardens
4730 40th Avenue
Warranty Deed
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solely for the benefit of, and may be relied on only by the other party hereto, its successors <br />and assigns, and are not made for the benefit of, nor may they be relied upon, by any other <br />person whatsoever. <br />8.6 Attorney's Fees and Costs. In any claim or controversy arising out of or relating to <br />this Agreement, each party shall bear its own attorney's fees, costs, and expenses. <br />8.7. Counterparts. This Agreement may be executed in two or more counterparts, each <br />one of which shall constitute an original. <br />8.8. County Approval Required. This Agreement is subject to approval by the Indian <br />River County Board of County Commissioners as set forth in paragraph 2. <br />8.9 Affordable Housing Requirement. HFH (or successor developer) may not use the <br />property for any purpose other than for the construction of affordable housing for <br />homebuyers who meet the requirements of HFH's homeownership program. The <br />restriction shall only apply to the first sale by of each lot by HFH or successor developer. <br />This provision shall survive closing. <br />8.10 American Recovery Plan Act (ARPA) Funds. The County is currently holding <br />$500,000 (five hundred thousand dollars) in ARPA funds earmarked for assistance in <br />construction of this project. Within a reasonable time after closing, HFH shall comply with <br />the Indian River County American Rescue Plan Agreement attached to this Agreement as <br />Exhibit "B" and incorporated by reference herein. Upon receipt of qualifying invoices from <br />HFH, the County will reimburse HFH in accordance with the ARPA as described in the <br />attached U.S. Department of the Treasury Coronavirus Local Fiscal Recovery Fund Award <br />Terms and Conditions. HFH acknowledges that completion of the project must occur <br />before December 31, 2026 to satisfy ARPA funding requirements. HFH shall follow all <br />ARPA requirements in the expenditure of the ARPA funds. This paragraph shall survive <br />closing of the transaction. <br />SIGNATURE PAGE TO FOLLOW <br />-s- <br />
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