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2006-434
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2006-434
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Entry Properties
Last modified
9/1/2016 4:50:50 PM
Creation date
9/30/2015 10:27:35 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Amendment
Approved Date
12/19/2006
Control Number
2006-434
Agenda Item Number
11.C.4.
Entity Name
Indian River Community College
Subject
First Amendment Funding Agreement/Memorandum of Understanding
Supplemental fields
SmeadsoftID
6016
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2. C . ; <br /> ADDENDUM TO <br /> INTERLOCAL AGREEMENT <br /> This addendum to the Interlocal Agreement entered into by and between the <br /> DISTRICT BOARD OF TRUSTEES OF INDIAN RIVER COMMUNITY COLLEGE , a <br /> political subdivision of the State of Florida ("Trustees ") , and INDIAN RIVER COUNTY, a <br /> political subdivision of the State of Florida ("County") in connection with the construction <br /> of a full service joint use public/community college branch library as part of the County <br /> Library system located at the Mueller Campus of the Indian River Community College , <br /> and <br /> Whereas the parties hereto have entered into an Interlocal Agreement with an <br /> effective date of December 1 , 2005 , and <br /> Whereas the parties have agreed to amend the Interlocal Agreement to reflect <br /> additional funds available in connection with same as per First Amendment to Funding <br /> Agreement of even date herewith , and therefore in consideration of the mutual <br /> covenants contained herein and other good and valuable considerations , it is hereby <br /> agreed as follows : <br /> 1 . That the foregoing recitals are true . <br /> 2 . Article 4 . 1 . 1 of the Interlocal Agreement is hereby amended by deleting said <br /> article in its entirety , and replacing it with the following language : <br /> 4 . 1 . 1 — The parties acknowledge and agree that the Trustees have received $4 . 3 million <br /> dollars from the County contribution , and an additional $4 . 3 million dollars in matching <br /> funds from the State of Florida , and that there will be another $ 1 . 2 million dollar <br /> contribution from the County to be matched by an additional $ 1 . 2 million dollars from the <br /> State of Florida . The parties acknowledge and agree that the total of $ 11 , 000 , 000 . 00 <br /> plus any accrued interest thereon held under the Funding Agreement shall be used and <br /> allocated as follows : a maximum of $2 . 7 million dollars in the aggregate for the College <br /> Lane extension and the bridge components of the Library Project (the "non-Library <br /> Component') ; and the remainder of $ 8 . 3 million dollars to the Library facility, including <br /> without limitation all design and construction fees , insurance , bonding and other typical <br /> construction related costs , furnishings , fixtures , collections , fiber optic cable , telephone <br /> and computer equipment, and other equipment for the Library and a minimum of 120 <br /> dedicated parking spaces (the "Library Component') (the foregoing allocation of costs <br /> for the Library Component and the non-Library Component are hereinafter referred to <br /> as the " Project Allocation ") . The parties further acknowledge that an additional <br /> $ 500 , 000 . 00 in construction funds will be contributed by the COUNTY to the Library in <br /> accordance with a grant from the State of Florida ; however no matching funds are <br /> eligible for that contribution . The parties acknowledge and agree that the non-Library <br /> Component will be built to Indian River County standards and that construction of the <br /> non- Library Component will commence prior to construction of the Library Component . <br /> The parties further acknowledge and agree that the County and its agents including <br /> without limitation the Indian River County Clerk of Circuit Court or its designee , and the <br /> Trustees shall coordinate , monitor and control the sequence of contracts awarded by <br /> 1 <br />
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