989-FDEP Clean Water Loan Amendment 2
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Florida Department of
Environmental Protection
Charlie Crist
Governor
Jell Kottkalllp
I L Govemor
-
Bob Martinez Center
2600 Blair Stone Road
Tallahassee. Florida 32399-2400
Vich~lcl W. Sole
Secrct~l1"\'
CERTIFIED MAIL
RETURN RECEIPT REQUESTED
MA,Y 1 8 2007
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Mr. Tom George
Director of Public Works
City of Sanford
Post Office Box 1788
Sanford, Florida 32772 - 1788
Re: SWG12058624P - Sanford
Stormwater Management (Planning/Design)
Dear Mr. George:
Weare pleased to provide additional financing under the State Revolving Fund loan program for
construction of your project. Enclosed is one copy of Amendment 2 to your loan. The
amendment is now in effect.
We congratulate you and your staff on your efforts and are pleased that we can continue working
with you on this project.
Ifwe may be of further assistance, please contact Missy Dockstader at 850/245-8358.
Sincerely,
lri ~
Phil Coram, P .E.
Deputy Director
Division of Water Resource Management
PC/md/d
Enclosure
cc: David A. Gierach - CPH Engineers, Inc.
James Poulalion - City of Sanford
Robert P. Yehl- City of Sanford
Dave Herbster - FDEP, Central District
"More Protection. Less Process"
m.m. dep s/;Jtc.ll.us
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CLEAN WATER STATE REVOLVING FUND
AMENDMENT 2 TO LOAN AGREEMENT SWG12058624P
CITY OF SANFORD
This amendment is executed by the ST ATE OF FLORIDA DEPARTMENT OF ENVIRONMENTAL
PROTECTION (Department) and the CITY OF SANFORD, FLORIDA, (Local Government) existing as
a local government agency under the laws of the State of Florida.
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WITNESSETH:
WHEREAS, the Department and the Local Government entered into a Clean Water State Revolving
Fund Loan Agreement, Number SWG 12058624P, as amended, authorizing a Loan amount of $2,930,268,
excluding Capitalized Interest; and
WHEREAS, the Local Government is entitled to additional financing of $1,698,930, excluding
Capitalized Interest; and
WHEREAS, revised provisions for audit and monitoring are needed; and
WHEREAS, an interest rate and a Grant Allocation Assessment rate must be established for the
additional financing amount awarded in this amendment; and
WHEREAS, a Loan Service Fee must be assessed for the additional financing; and
WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment in the Loan
amount; and
WHEREAS, the Project costs need adjustment to reflect revised estimates.
NOW, THEREFORE, the parties hereto agree as follows:
1. Subsections 2.03(1) and (3)(a)(i) ofthe Agreement are deleted and replaced as follows:
(1) The financial assistance authorized pursuant to this Loan Agreement consists of the
following:
Federal Resources, Including State Match, Awarded to the Recipient Pursuant to this Agreement Consist of the
Following:
Federal State
Program Federal CFDA Funding Appropriation
Number Agency Number CFDA Title Amount Category
CS12000l-060 EPA 66.458 Capitalization Grants for $4,629,198 140131
State Revolving Funds
(3) Report Submission.
(a) Copies of reporting packages for audits conducted in accordance with OMB Circular A-133,
as revised, and required by Subsection 2.03(2) of this Agreement shall be submitted, when required by
, '
Section .320 (d), OMB Circular A-133, as revised, by or on behalf of the Local Government directly to
each of the following:
(i) The Department at each of the following addresses:
Don W. Berryhill, P.E., Chief
Bureau of Water Facilities Funding
Florida Department of Environmental Protection
2600 Blair Stone Road, MS 3505
Tallahassee, Florida 32399-2400
Joe Aita, Audit Director
Office of the Inspector General
Florida Department of Environmental Protection
3900 Commonwealth Boulevard, MS41
Tallahassee, Florida 32399-3123
2. Additional financing in the amount of $1 ,698,930, excluding Capitalized Interest, is hereby
awarded to the Local Government.
3. A combined rate of interest and Grant Allocation Assessment of2.52 percent per annum is
established for the additional financing amount awarded in this amendment. Individually, the interest
rate is 1.26 percent per annum and the Grant Allocation Assessment rate is 1.26 percent per annum.
However, if this amendment is not executed by the Local Government and returned to the Department
before July 1, 2007, the interest and Grant Allocation Assessment rates may be adjusted.
4. The estimated principal amount of the Loan is hereby revised to $4,760,498, which consists
of $4,629,198 authorized for disbursement to the Local Government and $13l ,300 of Capitalized
Interest. This total consists of the following:
(a) Original Agreement of$836,968, including $790,268 authorized for disbursement to the
Local Government and $46,700 of Capitalized Interest, at a combined rate of interest and Grant
Allocation Assessment of 2.90 percent per annum (the interest rate is 1.45 percent per annum and the
Grant Allocation Assessment rate is 1.45 percent per annum); and
(b) Amendment 1 of $2,222,000, including $2,140,000 authorized for disbursement to the Local
Government and $82,000 of Capitalized Interest, at a combined rate of interest and Grant Allocation
Assessment of2.81 percent per annum (the interest rate is 1.405 percent per annum and the Grant
Allocation Assessment rate is 1.405 percent per annum); and
(c) Amendment 2 of$I,701,530, including $1,698,930 authorized for disbursement to the Local
Government and $2,600 of Capitalized Interest, at a combined rate of interest and Grant Allocation
Assessment of 2.52 percent per annum (the interest rate is 1.26 percent per annum and the Grant
Allocation Assessment rate is 1.26 percent per annum).
5. An additional Loan Service Fee in the amount of$33,979, for a total of $92,584, is hereby
assessed. The fee represents two percent of the Loan amount excluding Capitalized Interest; that is, two
percent of $4,629, 198. Estimated Loan Service Fee capitalized interest for the fee amount assessed to
date is $5,410.
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6. The Semiannual Loan Payment amount is hereby revised and shall be in the amount of
$158,327 until this Agreement is further amended. Such payments shall be received by the Department
on January 15,2008 and semiannually thereafter on July 15 and January 15 of each year until all amounts
due hereunder have been fully paid. Each Semiannual Loan Payment, after deduction of any unpaid
Loan Service Fee amount, will be proportionally applied toward repayment of the amounts owed on each
incremental Loan amount at the date such payment is due.
The Semiannual Loan Payment amount is based on the total amount owed of $4,858,492, which
consists of Loan principal of $4,760,498 plus the Loan Service Fee of $92,584 with its capitalized
interest of $5,410.
7. The Local Government and the Department acknowledge that the actual cost of the Project
has not been determined. Project cost adjustments may be made as a result of mutually agreed upon
Project changes. Capitalized Interest will be recalculated based on actual dates and amounts of Loan
disbursements. If the Local Government receives other governmental financial assistance for this
Project, the costs funded by such other governmental assistance will not be financed by this Loan. The
Department shall establish the final Project costs after its final inspection of the Project records.
Changes in Project costs may also occur as a result of the Local Government's Project audit or a
Department audit.
Funds disbursed in accordance with Section 4.08 of this Agreement shall be disbursed in the
order in which they have been obligated without respect to budgetary line item estimates. All
disbursements shall be made from the original Loan amount until that amount has been disbursed; the
combined rate of interest and Grant Allocation Assessment established for the original Loan amount shall
apply to such disbursements for the purpose of determining the associated Capitalized Interest and
repayment amount. The combined rate of interest and Grant Allocation Assessment established for any
additional increment of Loan financing shall be used to determine the Capitalized Interest and repayment
amount associated with the funds disbursed from that increment.
The estimated Project costs are revised as follows:
CATEGORY
Administrative Allowance
Planning Allowance
Engineering Allowance
Construction and Demolition
Contingencies
Land
Technical Services After Bid Opening
Less CDBG
SUBTOTAL (Disbursable Amount)
Capitalized Interest
TOTAL (Loan Principal Amount)
COST($)
28,719
186,673
358,987
4,033,394
o
356,765
194,660
(530,000)
4,629,198
131,300
4,760,498
8. All other terms and provisions ofthe Loan Agreement shall remain in effect.
REMAINDER OF P AGE INTENTIONALLY LEFT BLANK
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This Amendment 2 to Loan Agreement SWG 12058624P shall be executed in three or more counterparts,
any of which shall be regarded as an original and all of which constitute but one and the same instrument.
IN WITNESS WHEREOF, the Department has caused this amendment to the Loan Agreement to be
executed on its behalf by the Deputy Director and the Local Government has caused this amendment to
be executed on its behalf by its Authorized Representative and by its affixed seal. The effective date of
this amendment shall be as set forth below by the Deputy Director.
for
CITY OF SANFORD
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Mayor
Attest
I attest that this amendment complies with
Section 2.02 of the eement and as to form
and co
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/ City CI;t
SEAL
for
STATE OF FLORIDA
DE/J:;T OZVIRONMENT~ PRO::y~I~~Og7
Date
Deputy Director
Division of Water Resource Management
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