Vous êtes sur la page 1sur 6

MEMORANDUM OF UNDERSTANDING

THIS CONTRACT and AGREEMENT hereinafter referred to as Agreement

is made and entered as of the 24 day of February 2010 by and between Augusta Georgia

hereinafter referred to as AUGUSTA

a political subdivision of the State of Georgia

and the Augusta Georgia Land Bank Authority hereinafter referred to as LAND

BANK

WHEREAS the General Assembly saw the necessity in returning tax delinquent

non revenue producing or non tax producing properties to an effective utilization status in

order to provide housing new industry

and jobs

for the citizens

of the county

and

enacted the LAND BANK Authority Act hereinafter The Act and

WHEREAS AUGUSTA pursuant to the Act

on July

16

1997 created the

Augusta Georgia Land Bank Authority granting the LAND BANK with the powers

provided by Georgia Code as well

as such powers

as necessary and incidental to the

exercise of such powers

including but

not

limited to

the

power to

contract

all

in

furtherance of its purpose to acquire tax delinquent non revenue or non tax producing

properties and return such property to a status which can provide housing new industry

and jobs for the citizens of the county and

WHEREAS AUGUSTA

has previously determined and resolved that several

historic neighborhoods located within the boundaries of old city limits are in need of

rehabilitation conservation or redevelopment

and that AUGUSTA

S initial efforts

would be concentrated in the historic Laney Walker and Bethlehem neighborhoods which contain a large number of historic residential and commercial properties the Project

Area

WHEREAS AUGUSTA is in the process of creating an Urban Redevelopment

Agency the URA

pursuant to OCGA

3661 18 for the purpose of rehabilitation

conservation or redevelopment of properties with the Project Area and

WHEREAS the LAND BANK has previously and continues to acquire properties

in the Project Area in furtherance of this stated purpose of acquiring tax delinquent non

revenue or non tax producing properties and return such property to a status which can

provide housing new industry and jobs for the citizens of the county and

WHEREAS the LAND BANK is willing to and is desirous of cooperating and

coordinating with AUGUSTA and the URA the acquisition of properties in the Project

Area and

WHEREAS to facilitate the acquisition of the property AUGUSTA desires to

make available to the LAND BANK and the LAND BANK desires that AUGUSTA

make available to the LAND BANK 1000

00 000

for the purchasing of property in the

Project Area provided that if and upon the sale of such acquired property the LAND BANK shall refund to AUGUSTA funds advanced for such acquisition

J

NOW THEREFORE in consideration of their mutual covenants and within the

limitations of this Agreement AUGUSTA and the LAND BANK covenant and agree as

follows

11

SECTION 1

AUGUSTA

covenants

and

agrees

1000

000

00

at zero percent 0

to

advance

up

to

One

Million

Dollars

interest per annum to the LAND BANK to

purchase property

in

the Project Area

and

to

associated with the acquisition of the property

pay such

capitalizable

costs

such advances

to

be made

in

conformance with the request and authorization process currently utilized between

S Housing and Community Development department and the LAND

AUGUSTA

BANK

  • 12 The LAND BANK covenants and agrees that any properties acquired with funds advanced pursuant to this Agreement the Acquired Property shall be made available for purchase by the URA for the purpose of rehabilitating conserving and redeveloping such properties

  • 13 The LAND BANK covenants and agrees that the sales price of the Acquired Property shall be equal

to

or greater than the

amount of the

LAND

BANK

s

adjusted cost basis acquisition cost plus capitalizable costs

  • 14 The LAND BANK covenants and agrees that it will use the revenue derived from

the sale of Acquired Property to reimburse AUGUSTA for all monies advanced to

the LAND BANK for the purpose of purchasing such property

SECTION II

  • 21 DURATION

This Agreement shall commence on the date the funds becomes

available to the LAND BANK and shall be in effect until July 1 2010

  • 22 FUNDING

SOURCE

AUGUSTA

shall advance

funds

to

the LAND

BANK

from

funds derived from its general fund or other funds lawfully available to it

for such purposes to provide monies sufficient to fulfill its obligation

23

SECURITY

INTEREST

In

order

to

assure

that

the

AUGUSTA

will

be

reimbursed

funds

advanced

for

the

purchase

of

the

Acquired

Property

AUGUSTA shall have the right but not the obligation to evidence its

security

interest by recording a Security Deed in the Office of the Clerk of the Superior Court and the LAND BANK shall cooperate with AUGUSTA if it elects to record

such security instrument

  • 24 LEGISLATIVE MODIFICATION

Notwithstanding any other provision of this

Agreement to the contrary in the event that any federal state or local law rule

regulation or interpretation thereof restricts prohibits or in any way materially

changes the rights or obligations of either party then this Agreement shall to the

extent permitted by the laws of Georgia be deemed amended by the parties in a

manner consistent with any such probation restriction or limitation

ti

  • 25 TERMINATION

FOR

CAUSE

Should

AUGUSTA

in

its

sole

discretion

determine that the LAND BANK is failing to substantially comply with the terms

and conditions of this Agreement AUGUSTA may terminate this Agreement

upon three 3

calendar day

s

written notice to the LAND BANK

and have no

further obligation to make additional advances for the purchase of property

Upon termination the LAND BANK shall refund to AUGUSTA the previously

advanced but unexpended monies

  • 26 TERMINATION FOR CONVENIENCE Either party may terminate this Agreement by providing thirty 30 days written notice to non terminating party The LAND BANK shall refund to AUGUSTA the previously advanced but unexpended monies

  • 27 AGENCY

Neither Party becomes the agent of the other under this Agreement

and each

will

transferred

or

continue to perform its statutory functions

and the functions

retained

under this

Agreement

at

its

own

sole

cost

and

responsibility independently of the other Neither party will be responsible for the

contracts nor other obligations of the other except as specifically stated and

transferred hereinabove

  • 28 SEVERABILITY If any term or provision in this Agreement shall be deemed illegal or unenforceable notwithstanding the offending terms or provisions this

Agreement shall remain in full force in effect and such terms or provisions shall

be deemed stricken

  • 29 ASSIGNMENT Neither party may assign its respective obligations arising out of this agreement without the prior written consent of the other party

    • 210 WAIVER The waiver by either party of any breach of any provision contained in the Agreement shall not be deemed to be a waiver of such provision on subsequent

breach

Agreement

of

the

same

or

any other provision

contained in

any

this

  • 211 GOVERNING LAW This Agreement shall be construed in accordance with and governed by the laws of the State of Superior Court of Richmond County

Georgia and jurisdiction shall lie in the

  • 212 COMPLETE AGREEMENT This agreement sets forth all provisions and understandings between the parties There are no provisions understandings representations or inducements either oral or written between the parties other

than those hereinabove set forth

It

is

further understood and

agreed that no

subsequent alteration amendment modification change or addition to this

Agreement shall be binding upon the parties hereto unless the same is reduced to

writing and signed by the parties to this Agreement

IN WITNESS WHEREOF this Agreement is executed as the date first

written above

Augusta Richmond County

By

U

Its Mayor

4

AAtte

k

commission

Attes

ts Secretary

s

Augusta Land Bank Authority

By

Its

CALLED MEETING

CONMSSION CHAMBER

December 7 2009

The Augusta Richmond

County Commission convened at

1130

December07 2009theHonorableAlvinMasonMayorProTem presiding

am

Monday

PRESENT

Hons Smith Grantham Hatney Beard Johnson Jackson Bowles and

Brigham membersofAugustaRichmondCountyCommission

ABSENT

Hons Deke Copenhaver Mayor Holland member of AugustaRichmond

County Commission

AlsoPresent Fred Russell Administrator Chiquita Johnson General Counsel Nancy

Morawski Deputy Clerk ofCommission

  • 1 Discussapprovefinance andprojectdevelopment plans for theTEECenter

Laney

Walker Bethlehem Projects

Mr Grantham Motion to approve therecommendation of theTEECenter

Laney

Walker Bethlehem Subcommittee regarding the funding with the addendum to increase

theoriginal fundingtoTransit upto400

000 once15 million iscollectedandtheamount

over15 million would be split between Transit at 60 and a revitalization fund for all

eight districts at 40

Mr Hatney Second

Mr Russell Ifyoucould youneedtoincorporatethat motionandsecondtoincludethe

relevant

The entire motion needs to include the relevant

verbage in the documents that are

document that

s attached

Motion to approve the following actions regarding the TEE Center Laney Walker

Bethlehem Project and the Transportation Fee

As to theTEECenterProject 1 proceedwith theTVSdesign for theTEECenter andthe

designandconstructionofaparkingdeckconsistentwith theTVSdesignparkingstudy at

atotal cost of48

000 000

for the parking deckandTEE Center Fundingfor theprojects

sources

000

000

20

from SPLOST V

a

net

amount

of

000 fromcost savings fromthe

come for the following
000 000 19

to

fromtheissuanceof taxexempt bonds1500

000

Judicial Center Project 5000

from additional SPLOSTVcollections and 2500

000

fromSPLOSTVinterest earnings Sources offundsfor therepayment ofthebondswill be

000

1000

fromtheHotel

Motel tax and 425

000

fromthe car rental franchisefee 2

Approve the execution by the Mayor and Clerk of Commission the TEE Center

Management

and Catering Agreement

and TEE Center

CORE Agreement

with a

provision that the parking lot and deck is to be operated by the TEE Center operator

by

3

Such agreement to be subject

to review

and approval

bond

and tax counsel

Authorize the Administrator to proceed with the necessary RFQ

RFP

for a construction

r

manager at risk for the construction

of the parking

deck and

the

TEE

Center

4

Authorize the Administrator to acquire the necessary land for the construction of the TEE

Center and parking deck and to undertake such action as necessary to begin construction

of the parking deck and TEE Center

5

Authorize the Administrator to engage bond

counsel for the issuance of bonds for the construction

of the projects

and

to

obtain

the

Coliseum Authority

s consent to issue the bonds for the projects

As to the Laney Walker Bethlehem Project

1 Approve the issuance of 8000

000 of

taxable bonds to continue the Laney WalkerBethlehem Project with the bonds being

amortized of 30 year with a 5 year maturity

The bonds will be repaid from a portion of

the Transportation Fee designated for the Laney Walker

Bethlehem

Project

2

Authorize the Administrator to develop programmatic requirements for use of funds for

land acquisition developer loans and down payment assistance

3

Advance 1000

000

from the general fund to continue the project such advance to be repaid from the bond

proceeds

4

Authorize the Administrator to take such action as necessary to form a

Urban Redevelopment Agency for the issuance of the bonds

5 Obtain bond counsel

s

approval

that

the

use

of the

bonds funds will

not violate bond covenants or law

6

Authorize the Administrator to engage bond counsel to issue the bonds

As to the Transportation Fee

initial collections of 1500

000

expenditures 750

000

Walker Project for payment

Amend the ordinance to provide that the 350

  • 000 of the

 

Laney

400 000

of the

shall go to TEE Center project for operational and capital

of the initial collections of 1500

000

of bond costs and pay as you

shall to the Bethlehem

go projects

initial collections of 1500

000

shall go to Transportation

and that collections over

000 1500 shall be split 60 to Transportation and the remaining 40 to county wide

urban revitalization

Mr Mason votes No

Ms Beard abstains

Motion carries 71 1

MEETING ADJOURNED

Nancy W Morawski

Deputy Clerk of Commission