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Home My Public Portal AboutThird Amendment to Developer's AgreementTHIRD AMENDMENT TO DEVELOPER'S AGREEMENT THIS THIRD AMENDMENT TO DEVELOPER'S AGREEMENT ("Third Amendment") is entered into on this IVday of A -Pg- i (, , 2024, by and between the TOWN OF GULF STREAM, FLORIDA, a Florida municipal corporation ("Town") and GULF STREAM SCHOOL, INC, a Florida corporation not -for -profit ("School") (collectively, the "Parties"). WITNESSETH: WHEREAS, the Parties entered into a Developer's Agreement dated June 10, 1994 and recorded June 20, 1994 in Official Records Book 8311, Page 630 of the Public Records of Palm Beach County, Florida, as amended and modified by that Amendment to Developer's Agreement dated April 9, 2001 and recorded on April 13, 2001 in Official Records Book 12458, Page 1563 of the Public Records of Palm Beach County, Florida, and as further amended and modified by that Second Amendment to Developer's Agreement dated April 16, 2013 and recorded on April 30, 2013 in Official Records Book 25988, Page 1520 of the Public Records of Palm Beach County, Florida (as amended, the "Agreement"); and WHEREAS, Gulf Stream School has been stewarded well for many years by a Board that practices conservative budgeting and spending policies; and WHEREAS, in the nearly three decades since the Parties entered into the Agreement, much has changed in education. The School has invested substantial funding in technology, campus security, health, and social/emotional wellness; and WHEREAS, the Agreement set the maximum number of students, both seasonal and full- time, that may be enrolled in said School at one time at 250 students. The Parties have agreed that an enrolment figure not to exceed 300 students for school years 2024-25, 2025-26, 2026-27, 2027- 28, and 2028-29 is an appropriate number to balance continued good stewardship and necessary budgeting practices of the School with the potential impacts a 20 percent enrollment increase may have on the Town's narrow roads and residential community; and WHEREAS, in May of 2022, the School employed a traffic engineer to evaluate the traffic generated by the School on campus and on Gulf Stream Road. After initiating a new pattern where certain traffic exits on AlA and other traffic exits on Gulf Stream Road, the Parties have seen a morning arrival that concludes before 8:15 a.m. and has relieved morning traffic backup on Gulf Stream Road. Similar benefits have been observed during the afternoon dismissals, with a range between 10 and 18 minutes from start to finish; and WHEREAS, the School and Town agree to increase the maximum number of students, both seasonal and full-time, that may be enrolled in said School at one time from 250 to 300 as further described herein. NOW, THEREFORE, for and in consideration of the premises, the mutual undertakings and agreements herein contained and assumed, the School and the Town hereby covenant and agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference. 2. Amendments. The Parties hereby agree that the Agreement is amended as follows: a. Paragraph 1, Use of the Premises, subparagraph (b) is deleted in its entirety and replaced with the following: B. The Parties agree that the use of the Premises as a school shall be limited as follows: The maximum number of students, both seasonal and full-time, that may be enrolled in said school at one time shall not exceed two hundred fifty (250) students except that for school years 2024-25, 2025-26, 2026- 27, 2027-28, and 2028-29 the maximum number of students, both seasonal and full-time, is permitted to be three hundred (300). Said students will be enrolled in grade levels Pre-K through 9 but shall not include any students enrolled solely at the Gulf Stream School Delray Beach Campus, located at 2515 North Swinton Avenue, Delray Beach, Florida 33444. The School will generally be open between the hours of 6:00 A.M. and 6:00 P.M. year round. After school activities will generally not be conducted past the hour of 7:00 P.M. during the weekday, and all events shall conclude by 10:00 P.M. Events or activities which will be attended by more than fifty (50) persons and that are conducted past 7:00 P.M., regardless of the day of the week, shall be limited to a total of twelve (12) per calendar year. Additionally, the Premises will not be used for any activity other than for School and community events involving the residents of Gulf Stream, Florida, the students attending the Gulf Stream School, and the families and friends of those students. The school may not collect a rent, cash or otherwise, from any individual or organization conducting an event on the Premises, nor may the individual or organization receive compensation for conducting the event unless that compensation comes directly from the School. Moreover, only the School may charge an admission fee to any event conducted on the Premises. The maximum number of adults attending said activities shall not exceed five hundred fifty (550). b. Paragraph 3B, on page 3 of the 2001 Amendment to Developer's Agreement is deleted in its entirety and replaced with the following: The School, in recognition of the services provided it by the Town, shall pay to the Town annually on October 1st of each year the sum of Nineteen Thousand, Two Hundred and Twenty -Five Dollars ($19,225) beginning October 1, 2024, subject to an annual adjustment to reflect the rising cost to the Town to provide these services. This annual adjustment shall be computed by multiplying the previous year's payment by the net change to the Consumer Price Index — All Urban Consumers, published by the U.S. Department of Labor, Bureau of Labor Statistics for the preceding twelve (12) month period, June to June. The Town shall invoice the School on September 1 of each year, with payment due on October 1. The School shall provide to the Town an annual report of the number of students enrolled at the School, which shall include a sworn certification that enrollment at the School does not exceed the maximum permitted student enrollment. This report and certification shall be provided by the Head of School no later than the first day of the school year. c. Miscellaneous: i. The terms contained in this Third Amendment shall govern in the event of any conflict between the terms hereof and the terms contained in the Agreement. ii. Except as herein modified, all of the terms and provisions of the Agreement shall remain in full force and effect. iii. The parties agree that this Third Amendment shall be recorded in the Public Records of Palm Beach County, Florida, within fourteen (14) days of execution by all parties. iv. This Third Amendment may not be amended or modified, nor shall any waiver of any provision hereof or thereof be effective, except by an instrument in writing executed by the parties. v. This Third Amendment shall be binding upon the parties and their respective legal representatives, successors and assigns. vi. The provisions of this Third Amendment shall be construed in accordance with the laws of the State of Florida. vii. This Third Amendment may be executed in any number of counterparts each of which shall be considered an original and one and the same document. A facsimile copy of this Third Amendment and any signatures hereon shall be considered for all purposes as originals. 3. Increased Enrollment Impact. The Town has undertaken a large capital improvement project, part of which will widen roads west of State Road AIA between Sea Road and Golfview Road. This project is projected to conclude in late 2025. Many of these roads are impacted by school traffic. The parties agree to meet and discuss the impact of the increased enrollment in early 2027 and extending the maximum number of students, both seasonal and full-time, of three hundred beyond the 2028-29 school year. This Agreement signed, sealed, and delivered by the parties hereto on the date first written above. �QG%i �l2 PWena a cr GULF STREAM SCHOOL, INC. B Y• Its.i��ili� 33q �'q STATE OF FLORIDA COUNTY OF �� The foregoing instrument was acknowledged before me by means of�� physical presence or [_] online notarization this I day of , 20 Z`f , by �ii k ��w��^ r— as Q(� rd•�.k A of the Gulf Stream School. (NOTARY SEA p , .ADRIANA WYNN / MY COMMISSION # HH432o452 ota s�<bF� " EXpIRES. August 13, 27 Personally Known OR Produced Identification Type of IdentificationId— uced TOWN OF GULFSTREAM By: C-'M' - -�� S 7- rn Mayor [(SEAL)]