AGENDA MEMORANDUM

 

 

Meeting Date:           December 20, 2010

 

From:                          Ken Thomas, Director of Economic Development & Housing                                 

Subject:                      Resolution authorizing  Termination of a Memorandum of Understanding between the City of Leesburg and Lake County Government for funding of the Magnolia Townhomes Project  formerly Kristen Court Project

 

Staff Recommendation:

Staff recommends approval of the termination of the Memorandum of Understanding between Lake County Government and Leesburg for funding of the Magnolia Townhomes Project (aka Kristen Court).

 

Analysis:

The City of Leesburg and Lake County entered into a Memorandum of Understanding  October 7, 2008 to allow the use of Lake County SHIP funds to renovate the Kristen Court Apartment Complex.  However, on November 21, 2010 the Leesburg City Commission decided to put the project on hold and return the SHIP funds.  In addition, the other grant funds were also returned to their various entities. 

 

Therefore, the existing termination agreement is intended to provide both parties the legal authority to terminate the MOU and return all SHIP funds to Lake County Government.  City Staff, at a later date, will identify other projects within our jurisdiction that could qualify for the use of SHIP funds.  

 

Options:

1.  Approve the termination of the MOU between Lake County and Leesburg; or

2.  Such alternative action as the Commission may deem appropriate

 

Fiscal Impact

The $429,000 will be returned from the Housing Department budget (aka Kristen Court).  There will be no fiscal impact to the Magnolia Townhomes fund, or City, as a result of this transaction.  SHIP Funds, which are currently held in a restricted account, will be refunded to the appropriate Lake County Government business unit upon Commission approval. 

 

 

 

 

 

 

 

 

Submission Date and Time:    12/17/2010 4:41 PM____

Department: ______________________

Prepared by:  ______________________                     

Attachments:         Yes____   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Attorney Review :       Yes___  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ________

 

Finance  Dept. _____JB___________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. __554-0000-337-5410__

 

Project No. ____MTSHIP________

 

WF No. ______________________

 

Budget  ______________________

 

Available ____ $429,000__________


 

RESOLUTION NO._______________

 

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A TERMINATION OF A MEMORANDUM OF UNDERSTANDING BETWEEN LAKE COUNTY GOVERNMENT AND THE CITY OF LEESBURG FOR FUNDING OF THE MAGNOLIA TOWNHOME PROJECT FORMERLY THE KRISTEN COURT PROJECT: AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            THAT the Mayor and City Clerk are hereby authorized to execute the termination of the Memorandum of Understanding between Lake County Government, whose address is 1300 S. Duncan Drive, Tavares, Florida 32778  and the City of Leesburg regarding funding for the Kristen Court project. 

 

             THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the __20th   day of _December________ 2010

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

_____________________________________

City Clerk