Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 26-R29, Resolution Approving Road Improvement Cost Advancement, Reimbursement and Park Relocation Agreement
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Submitted By: Jesus Merejo, City Manager
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: The City Attorney’s Office and Mattamy Palm Beach, LLC’s counsel
2. Parties: City of Port St. Lucie (“City”) and Mattamy Palm Beach, LLC (“Mattamy”)
3. Purpose: This agreement includes the schedule for the advancement of construction of Sundance Vista Blvd. from Discovery Way to Crosstown Parkway, and formalizes the intent to relocate 30 acres of park from the Becker Road location westerly, south of Becker immediately east of Community Blvd.
4. New/Renewal/Modified: New.
5. Duration: The City will be reimbursed, with interest, by Matamy, 5 years after final completion. This agreement stipulates that Sundance Vista, from Crosstown Parkway to Discovery Blvd., is scheduled to be open to the public by December 31, 2027.
6. Benefits to Port St. Lucie: The agreement brings tremendous value to the City, ushering in thoughtfully designed infrastructure that eases traffic congestion while cultivating a vibrant, welcoming park space for residents and visitors alike to enjoy.
7. Cost to Port St. Lucie (Annual and Potential): The City will provide a maximum advance of $20,305,811.00 to Mattamy to be repaid to the City within five years of completion of Sundance Vista Blvd and provision of final construction costs with interest accruing at 3% per annum.
Presentation Information: N/A
Staff Recommendation: Move that the Council approve the Road Improvement Cost Advancement, Reimbursement and Park Relocation Agreement.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Road Improvement Cost Advancement, Reimbursement and Park Relocation Agreement.
2. Move that the Council not approve the Road Improvement Cost Advancement, Reimbursement and Park Relocation Agreement.
Background: City Resolution 21-R06 amended the Western Grove Development of Regional Impact (DRI) Development Order (DO) to provide that Mattamy has dedicated to the City the certain proposed roadway known as “Sundance Vista Boulevard”, formerly known as N/S A, with a reservation to Mattamy for purposes of constructing and maintaining the roadway and other improvements until acceptance by the City, such roadway being depicted in Exhibit "B" to the attached Road Improvement Cost Advancement, Reimbursement and Park Relocation Agreement (“Agreement”). The Western Grove DRI DO requires Mattamy to construct segments of Sundance Vista Blvd upon certain triggering events as provided in the Western Grove DRI DO.
Based on anticipated development schedules and population projections by the Parties, the Parties have determined that the design, permitting, construction and installation of the Roadways earlier than the triggers for construction outlined in the Western Grove DRI DO is in the best interest of the public to provide additional access for emergency services and roadway network connectivity to the public. Based on the current and anticipated pattern of development the Parties have also determined that the relocation of Park 3, as defined and depicted in the Park and Recreational Facilities Conveyance Agreement for the Southern Grove Development recorded in Official Records Book 5361, Page 2117 of the Public Records of St. Lucie County, Florida on September 3, 2025 (“Parks Agreement”), to the alternate location as depicted on Exhibit “C” (“Relocated Park”) to the Agreement, is in the best interests of the public so it can be co-located with another park property to provide a larger park facility to the public for its enjoyment and benefit. Park 3, formerly known as SoGro, is located south of Becker Road adjacent to America Walks, and the Relocated Park is located farther west on Becker Road, to the south of the road, and on the easterly side of Community Boulevard. No advances of roadway construction will be provided to Mattamy until such time as the Relocated Park is conveyed to the City.
Issues/Analysis: The Agreement provides that the City will advance Mattamy a maximum of $20,305,811.00 for construction of a segment of Sundance Vista Blvd. This maximum advance amount is based on a cost estimate submitted by Mattamy and reviewed and approved by the City’s Public Works department. Mattamy must reimburse the City for the advance within five (5) years of the City providing Mattamy with the reimbursement total for the construction, which such outstanding costs reimbursement amount shall accrue interest at a rate of three percent (3%) per annum until paid in full, and such reimbursement may be paid by Mattamy to the City in one lump sum or through periodic payments made to the City, unless otherwise agreed. However, if Mattamy fails to (a) complete the road or abandons the project, all outstanding reimbursement amounts are immediately due and payable to the City, which interest will accrue at 5 percent (5%) per annum until paid in full; or (b) if Mattamy fails to reimburse the total amount of Road Costs advanced by the City within the required timeframe, interest on all outstanding reimbursement amounts will accrue 5 percent (5%) per annum until paid in full.
Financial Information: Maximum amount of reimbursement is $20,305,811. Mattamy will pay all professionals, contractors, and vendors directly for the Road Costs. Mattamy may then request advance reimbursement from the City. To do this, Mattamy can submit a Payment Request to the City whenever payments become due, but not more than once every 30 days. Each Payment Request must include a completed AIA Application for Payment (or a similar form) signed by the Engineer of Record.
Special Consideration: This agreement facilitates acceleration of the construction and completion of Sundance Vista Blvd from Discovery Way north to Crosstown Parkway.
Location of Project: Sundance Vista Blvd, formerly known as N/S A, from Discovery Way north to Crosstown Parkway
Attachments:
ATTACHMENTS FORTHCOMING
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: 26062-01
Legal Sufficiency Review:
Reviewed by Elizabeth L. Hertz, Senior Deputy City Attorney. Approved as to Legal form and sufficiency by Richard Berrios, City Attorney.