8.A.
FPRA Regular Meeting Agenda
- Meeting Date:
- 04/18/2016
- Re
- FPRA Resolution Authorizing TCRPC Loan No. 3
- Submitted For:
- Rebecca Grohall
SUBJECT:
Approval of FPRA Resolution 16-03 Authorizing and Approving a Loan of $300,000 from the Treasure Coast Regional Planning Council (TCRPC) for Clean Up Costs Associated with the King Power Plant Site.
SUMMARY:
The Resolution is required for the loan, the loan documents are a continuing work in progress and may be subject to minor additions or deletions as we approach the closing date. The loan documents are similar to the loans signed previously.
The Resolution and draft loan documents are submitted for this agenda to establish a closing date for the loan.
The Resolution and draft loan documents are submitted for this agenda to establish a closing date for the loan.
RECOMMENDATION:
Approval of Resolution No. 16-03 and attached draft loan documents.
ALTERNATIVES:
Staff will proceed as directed by the FPRA Board.
RESPONSIBLE STAFF:
Robert V. Schwerer, City Attorney
Rebecca Grohall, AICP
Rebecca Grohall, AICP
COORDINATED WITH:
Treasure Coast Regional Planning Council Staff
Nick Mimms, City Manager
FPUA Director
FPUA Legal Counsel
Harbor Community Bank
Nick Mimms, City Manager
FPUA Director
FPUA Legal Counsel
Harbor Community Bank
Fiscal Impact
- Budgeted Y/N:
- 2016
- Fiscal Year:
- Account:
- Amount:
- N/A
OTHER INFORMATION:
The Revolving Loan offsets costs involved with the brownfield cleanup making this a expense neutral project.
Attachments
- Memo from R. Schwerer Re - Approval of Resolution No. 16-03
- Project Loan Agreement
- Exhibit A
- Exhibit B Irrevocable Letter of Credit
- Exhibits C D E Proj Agmt
- Exhibit F Revolving Loan
- Exhibit G
- Exhibit H
- Exhibit I Approved Budget
- Exhibit I Revised Budget
- Exhibit J Cardno Joinder
- Exhibit K
- 2016 Promissory Note