www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - April 4, 2017
April 4, 2017 - Regular Meeting
Agenda Item #51


Subject
Amended and Restated Land Use Restriction Agreement/Consent and Subordination Agreement for Centerstone of Florida, Inc.

Briefings
None

Contact and/or Presenter Information
Bill O'Shea/ext. 6858

Action Requested
Authorization for Chairperson to execute the Amended and Restated Land Use Restriction Agreement and the Consent and Subordination Agreement for Centerstone of Florida, Inc.

Enabling/Regulating Authority
11.1.4. Efficiency in Service Delivery

Background Discussion
  • On January 11, 2017, a Land Use Restriction Agreement was executed and recorded by Manatee County providing $275,000 in Community Development Block Grant funding to Centerstone of Florida, Inc., for Safety and Security Infrastructure Improvements in the parking lot of the Hospital and Addiction Center, located at 2020 26th Avenue East, Bradenton, Florida.
  • On February 22, 2017, Tim Knowles, legal counsel for Centerstone, notified the Redevelopment and Economic Opportunity office that Centerstone is obtaining financing for expanding the hospital capacity by a total of 13 beds.  Part of the financing requirements require Centerstone of Florida to convey the Hospital Campus to a subsidiary/affiliated company and lease it back so they can continue to operate the hospital and addiction treatment programs there. The financing needs to be secured by a first mortgage lien on the Hospital campus property.     The “Land Use Restriction…” (“Restriction”) which has been recorded specifically states under Section 4 that the Property will not be leased, conveyed, or encumbered without the consent of the County for a period of 20 years.  This Restriction will prevent the financing transaction from being completed.


County Attorney Review
Formal Written Review (Opinion memo must be attached)

Explanation of Other


Reviewing Attorney
Clague

Instructions to Board Records
Please have both the Restated Land Use Restriction Agreement and Consent and Subordination Agreement recorded (at Centerstone of Florida, Inc.'s expense) in the official records, and return original documents to Bill O'Shea, ext. 6858.

Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  March 28 LURA Centerstone signed.pdf
Attachment:  Manatee County Consent and Subordination Agreement-Centerstone Final.pdf
Attachment:  email from County Attorney.pdf