Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-R08, Approve First Amendment to Parks Impact Fee Funding Agreement for Torino Regional Park
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Submitted By: Zakariya M. Sherman, Executive Project Manager, Parks and Recreation
Strategic Plan Link: The City's Goal to Enjoy Culture, Nature and Recreation.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Zakariya M. Sherman, Parks and Recreation
2. Parties: City of Port St. Lucie and St. Lucie County
3. Purpose: To amend the existing Parks Impact Fee Funding Agreement to increase the reimbursement funding amount and extend the project completion date for the construction and development of Torino Regional Park.
4. New/Renewal/Modified: Modified (First Amendment)
5. Duration: The amended agreement extends the project completion date to December 31, 2027.
6. Benefits to Port St. Lucie: Provides additional Parks Impact Fee funding to support construction and development of Torino Regional Park, helping offset capital costs while delivering a regional park facility that serves both City and County residents.
7. Cost to Port St. Lucie (Annual and Potential): There is no direct cost to the City. The agreement provides reimbursement funding from St. Lucie County in the amount of $5,000,000.00, subject to documented eligible expenses.
Presentation Information: N/A
Staff Recommendation: Move that the Council approve the First Amendment to the Parks Impact Fee Funding Agreement in the affirmative.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the agreement in the affirmative.
2. Move that the Council not approve the agreement and provide staff direction.
Background: The City and St. Lucie County entered into a Parks Impact Fee Funding Agreement on November 1, 2022, to provide $4,000,000 in County Parks Impact Fee funding to assist with the construction and development of Torino Regional Park. The original agreement was set to expire on December 31, 2025. This First Amendment extends the project completion date and increases the funding amount by an additional $1,000,000 for Phase I construction, bringing the total agreement amount to $5,000,000.
Issues/Analysis: Approval of this amendment will allow the City to extend the project completion date and utilize additional Parks Impact Fee funding for eligible Phase I capital improvements at Torino Regional Park. Failure to approve the amendment to the Parks Impact Fee Funding Agreement and additional project reimbursement funding amount of $1,000,000 will adversely impact the construction budget of Torino Regional Park by $5,000,000.
Financial Information: There is no direct cost to the City, as the agreement provides up to $5,000,000 in reimbursement funding from St. Lucie County for eligible capital improvements to Torino Regional Park, subject to documented expenses.
Special Consideration: N/A
Location of Project: Torino Regional Park, 5601 North Torino Parkway, Port St. Lucie 34986
Attachments: 1. First Amendment to Parks Impact Fee Funding Agreement
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: #25351-16
Legal Sufficiency Review:
Reviewed by Elizabeth L. Hertz, Senior Deputy City Attorney. Approved as to Legal form and sufficiency by Richard Berrios, City Attorney.