SUBJECT:
Title
Request Approval of Subordination Agreement Between Marion County and Marion County Children’s Advocacy Center (Kimberly Center) (Budget Impact - Neutral)
Body
|
INITIATOR: |
DEPARTMENT: |
|
Cheryl Martin, Director |
Community Services |
DESCRIPTION/BACKGROUND:
On March 21, 2023, the Board approved a Community Development Block Grant - Cares Act (CDBG) agreement between Marion County and Marion County Children’s Advocacy Center for $175,000.00. In addition, the Board approved a Community Development Block Grant - Cares Act (CDBG) agreement between Marion County and Marion County Children’s Advocacy Center for $505,729.00 with financial support from the Florida Department of Commerce (formally State of Florida Department of Economic Opportunity) CDBG program.
Marion County Children’s Advocacy Center is seeking funding from First Federal Bank to complete an expansion of their facility. They are planning a large-scale expansion and renovation of the current building to expand comprehensive emergency medical services. This will enable them to also expand their services with DCF, Marion County Sheriff’s Office and the Ocala Police Department. This project supports the goals established in the Five (5) Year Consolidated Plan and associated Annual Action Plans to expand Community Development.
First Federal Bank is asking to be in first position on the real estate. A subordination agreement is requested.
BUDGET/IMPACT:
Neutral
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize Chair and Clerk to execute all necessary documents associated with the Subordination Agreement between Marion County and Marion County Children’s Advocacy Center.
end