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RESOLUTION WAIVING ADMINISTRATIVE RULES FOR ECONOMIC DEVELOPMENT FUND PROJECT 124 OF BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM, SUBJECT TO RECAPTURE, APPROVING ALLOCATION OF UP TO $5,000,000.00 FROM BUILDING BETTER COMMUNITIES GENERAL OBLIGATION BOND PROGRAM PROJECT NO. 124 TO TURNBERRY AIRPORT HOLDINGS, LLC TO FUND FONTAINEBLEAU AVIATION PROJECT, AND DIRECTING COUNTY MAYOR OR COUNTY MAYOR�S DESIGNEE TO NEGOTIATE TERMS OF A GRANT AGREEMENT WITH TURNBERRY AIRPORT HOLDINGS, LLC PURSUANT TO BOND PROGRAM�S ADMINISTRATIVE RULES AND PRESENT SUCH GRANT AGREEMENT OR, ALTERNATIVELY, A REPORT FOR CONSIDERATION BY BOARD

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WHEREAS, Appendix A to Resolution No. R-914-04 (the �Public Infrastructure Resolution�), lists projects eligible for funding from the Building Better Communities General Obligation Bond Program (the �Bond Program�) by project number, municipal project location, commission district, project description, street address, and project funding allocation; and
WHEREAS, one of the projects listed in Appendix A to the Public Infrastructure Resolution and approved by the voters for funding is Project No. 124 � Economic Development Fund (�Project 124�) with a project description that states �Provide infrastructure improvements to spur economic development and attract new businesses to the community in order to create jobs�; and
WHEREAS, the goal of Project 124 is to encourage private sector development through public infrastructure investments that will create jobs and cause economic development which will have long term benefits to the community; and
WHEREAS, on July 7, 2014, Turnberry Airport Holdings, LLC submitted an application for Project 124 funding, a copy of which is attached to this resolution as Exhibit A, for funding public infrastructure costs associated with the construction and operation of a new fixed-base operator (�FBO�) at Opa-Locka Airport contiguous with a new maintenance hangar (the �Fontainebleau Aviation Project�); and
WHEREAS, this Board has previously allocated the entire Project 124 funds to other infrastructure projects, subject to the negotiation of the County Mayor or the County Mayor�s designee (the �County Mayor�), in accordance with Resolution No. R-123-15, of a Grant or Interlocal Agreement to be presented to this Board for its approval; and
WHEREAS, in the event that the County Mayor is unable to successfully negotiate a Grant or Interlocal Agreement and/or this Board does not approve the award of the Project 124 funds to one or more of the proposed Project 124 grant recipients to whom the Project 124 funds have been allocated, such funds will be recaptured and be available for re-allocation to other eligible Project 124 projects (the �Recaptured Funds�); and
WHEREAS, in the event that Recaptured Funds become available for re-allocation, this Board wishes to prioritize and approve an allocation of up to $5,000,000.00 from Project 124 to Turnberry Airport Holdings, LLC for the funding of public infrastructure costs for the Fontainebleau Aviation Project in accordance with the administrative rules of the Bond Program (the �Administrative Rules�) such that Turnberry Airport Holdings, LLC shall be next in line to receive any Project 124 Recaptured Funds; and
WHEREAS, the individual Grant Agreement between the County and Turnberry Airport Holdings, LLC shall be submitted to the Board for approval in the future; and
WHEREAS, this Board wishes to waive the requirement, established in Resolution No. R-668-10 and set forth in the Administrative Rules, for Turnberry Airport Holdings, LLC that Project 124 allocations be made to projects with a minimum value of $10,000,000.00,
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF MIAMI-DADE COUNTY, FLORIDA, that:
Section 1. The foregoing recitals are approved and incorporated in this Resolution.
Section 2. The requirement in the Administrative Rules that each Project 124 allocation be a minimum of $10,000,000.00 is waived for Turnberry Airport Holdings, LLC with regard to the Fontainebleau Aviation Project and, subject to the Recaptured Funds becoming available for re-allocation and the future consideration by this Board of a Grant Agreement between the County and Turnberry Airport Holdings, LLC, an allocation of up to $5,000,000.00 from Project 124 to Turnberry Airport Holdings, LLC for the Fontainebleau Aviation Project is approved.
Section 3. The County will reallocate Recaptured Funds to projects in the order in which projects are allocated Project 124 Funds (i.e. the oldest allocation will receive Recaptured Funds first). Recaptured Funds shall be allocated to the Fontainebleau Aviation Project as such Recaptured Funds becomes available until such project is fully funded in the amount of the allocation approved by this Board.
Section 4. If and when any Recaptured Funds become available, the County Mayor is directed to negotiate, in accordance with Resolution No. R-123-15, the terms of a Grant Agreement with Turnberry Airport Holdings, LLC pursuant to the Administrative Rules. The County Mayor shall prepare and present a Grant Agreement to this Board for its consideration, provided, however, if the County Mayor is unable to successfully negotiate the terms of such Grant Agreement within the time period contemplated in Resolution No. R-123-15 which period shall commence on the date any Recaptured Funds for which the Fontainebleau Aviation Project
is eligible becomes available, a report detailing the status of the negotiations shall be presented to this Board instead and the County Mayor shall place the completed report on an agenda of the Board pursuant to Ordinance No. 14-65.