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Home My Public Portal About2013 State Revolving Fund Amendment 1 Agreement WW850050 -Collection Facilities.tifopQOOEC OW ENVIRONMENTAL PROTECTION II WI I R (\RROL 1_ ww.w.wewwr FLORIDA DEPARTMENT OF BOB MARTINEZ CENTER 2600 BLAIR STONE ROAD TALLAHASSEE, FLORIDA 32399-2400 FED EX DELIVERY — SIGNATURE REQUIRED FEB 12 2013 Mr. Jose Lopez Special Projects — Engineering Village of Key Biscayne 88 West McIntyre Street Key Biscayne, Florida 33149 Re: WW850050 — Key Biscayne Collection Facilities Dear Mr. Lopez: RI( k ,( ()TT (,t)\ I R\OR I1 6UV'I IL\OR ' I I R( I I I L 1 \ 1\1 \RI) IR til ( RI I \R1 Enclosed is one original of Amendment 1 to the Village of Key Biscayne's State Revolving Fund loan agreement. The amendment is now in effect, and no further amendments are anticipated. Please note that the required separate project -specific audit must be submitted to the Department within one year of the effective date of this amendment. The audit should be sent to Cindy Bonds at 2600 Blair Stone Road, Mail Station 3505, Tallahassee, Florida, 32399-2400. We congratulate you and your staff on the completion of your project and are pleased that we could work with you. Sincerely, \(/(/\_'cl \ I( Christine M. Klena, Deputy Director Division of Water Resource Management CK/dw Enclosure cc: John Gilbert — Village of Key Biscayne AMENDMENT 1 TO LOAN AGREEMENT WW850050 VILLAGE OF KEY BISCAYNE This amendment is executed by the FLORIDA WATER POLLUTION CONTROL FINANCING CORPORATION (the "Corporation") and the VILLAGE OF KEY BISCAYNE, FLORIDA, (the "Local Borrower") existing as a Local Borrower agency under the laws of the State of Florida. WITNESSETH: WHEREAS, the Corporation and the Local Borrower entered into a Clean Water State Revolving Fund Loan Agreement, Number WW850050, authorizing a Loan amount of $5,150,000, excluding Capitalized Interest; and WHEREAS, the Loan Amount, Loan Service Fee, and Project costs need adjustment to reflect actual costs; and WHEREAS, the Semiannual Loan Payment amount needs revision to reflect adjustment of project costs and the five Semiannual Loan Payments received by the Department from the Local Borrower; and WHEREAS, revised provisions for audit and monitoring are needed. NOW, THEREFORE, the parties hereto agree as follows: 1. The Loan amount is hereby reduced by $621,517, and the adjusted total disbursed amount for this loan is $4,528,483. 2. The Loan Service Fee amount is hereby reduced by $12,430, and the adjusted total service fee for this loan is $90,570. This fee represents two percent of the Loan amount excluding Capitalized Interest; that is, two percent of S4,528,483. The Loan Service Fee of $90,570 was assessed on September 12, 2012 and will be paid in the February 15, 2013 and August 15, 2013 payments. 3. The total amount to repay by the Local Borrower is 54,655,487.62, which consists of S4,528,483.00 disbursed to the Local Borrower, $36,434.62 of accrued Capitalized Interest and $90,570.00 of service fee charges. 4. The total amount remaining to repay, which amount accounts for the Department's receipt of five Semiannual Loan Payments, is $4,086,629.26, consisting of unpaid principal of the Loan of $3,996,059.26 and an unpaid service fee charge of $90,570.00 both at a Financing Rate of 3.39 percent per annum (the interest rate is 1.695 percent per annum, and the Grant Allocation Assessment rate is 1.695 percent per annum). 1 5. The Semiannual Loan Payment amount, adjusted to account for repayments received to date, is hereby revised and shall be in the amount of $155,749.77. Such payments shall be received by the Department on February 15, 2013 and semiannually thereafter on August 15 and February 15 of each year until all amounts due hereunder have been fully paid. 6. Subsections 2.04(1), (3)(a)(i), and (5) are hereby deleted and replaced as follows: (1) The financial assistance authorized pursuant to this Loan Agreement consists of the following: Federal Resources, Including State Agreement Consist of the Following: Match, Awarded to the Recipient Pursuant to this Federal Program Number Federal Agency CFDA Number CFDA Title Funding Amount State Appropriation Category CS120001- 090 EPA 66.458 Capitalization Grants for State Revolving Funds $4,528,483 140131 (3) Report Submission. (a) Copies of reporting packages for audits conducted in accordance with OMB Circular A-133, as revised, and required by Subsection 2.04(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 Borrower directly to each of the following: (i) The Department at the following address: Valerie Peacock, Audit Director Office of the Inspector General Florida Department of Environmental Protection 3900 Commonwealth Boulevard, MS 41 Tallahassee, Florida 32399-3123 (5) Record Retention. The Local Borrower shall retain sufficient records demonstrating its compliance with the terms of this Agreement for a period of five years from the date the audit report is issued, and shall allow the Department, or its designee, Chief Financial Officer, or Auditor General access to such records upon request. The Local Borrower shall ensure that audit working papers are made available to the Department, or its designee, Chief Financial Officer, or Auditor General upon request for a period of five years from the date the audit report is issued, unless extended in writing by the Department. 2 The Local Borrower is hereby advised that the Federal and/ or Florida Single Audit Act Requirements may further apply to lower tier transactions that may be a result of this Agreement. For federal financial assistance, the Local Borrower shall utilize the guidance provided under OMB Circular A-133, Subpart B, Section .210 for determining whether the relationship represents that of a subrecipient or vendor. The Local Borrower should confer with its chief financial officer, audit director or contact the Department for assistance with questions pertaining to the applicability of these requirements. 7. Section 8.02 of the Agreement is deleted and replaced as follows: Books, records, reports, engineering documents, contract documents, and papers shall be available to the authorized representatives of the Department and the U.S. Environmental Protection Agency's Inspector General for inspection at any reasonable time after the Local Borrower has received a disbursement and until five years after the date that the Project -specific audit report, required under Subsection 2.04(4), is issued. 8. Project Costs are revised as follows: The Local Borrower, the Corporation, and the Department acknowledge that changes in Project costs may occur as a result of the Local Borrower's Project audit or a Department audit pursuant to Chapter 62-503 of the Florida Administrative Code. Unless this Agreement is amended subsequent to an audit, the following Project disbursements shall be final. CATEGORY DISBURSED ($) Construction and Demolition Technical Services During Construction SUBTOTAL (Total Disbursed) Capitalized Interest TOTAL (Loan Principal Amount) 4,181,304.00 347,179.00 4,528,483.00 36,434.62 4,564,917.62 9. The Project -specific audit required under Subsection 2.04(4) of the Agreement shall be submitted within twelve months after the effective date of this amendment. 10. All other terms and provisions of the Loan Agreement shall remain in effect. REMAINDER OF PAGE INTENTIONALLY LEFT BLANK 3 for VILLAGE OF KEY BISCAYNE This Amendment 1 to Loan Agreement WW850050 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 Corporation has caused this amendment to the Loan Agreement to be executed on its behalf by its Chief Executive Officer and the Local Borrower 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 Chief Executive Officer of the Corporation. for FLORIDA WATER POLLUcHON CONTROL FINANCING CORPORATION 4./ q I Date appro orporate Secretary Village Attest as to form and correctness: APPR ^'�� PTED BY THE STATE OF FLORIDA DEPARTMENT OF ENVIRON 9TECTION. I1)A1 YI\ - I ( Deputy Director Division of Water Resource Management 4