Placement: Resolutions
Action Requested: Motion / Vote
title
Resolution 20-R128, A Resolution Approving a Partial Exception to Section 156.059 of the Subdivision Code on the request of Port St Lucie Governmental Finance Corporation.
body
Submitted By: Bridget Kean, AICP, Senior Planner
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Executive Summary (General Business): The City has received a request from Culpepper and Terpening, Inc., acting as the agent for the Port St. Lucie Governmental Finance Corporation, for a partial exception to the requirement in the Subdivision Code for the posting of a surety guarantee for approval of a preliminary and final subdivision plat with construction plans.
Staff Recommendation: Move that the Council adopt the resolution approving a partial exception to Section 156.059 of the Subdivision Code.
Alternate Recommendations:
1. Move that the Council amend the recommendation and adopt the resolution.
2. Move that the Council not adopt the resolution and provide staff direction.
Background: Southern Grove Plat No. 33 preliminary and final plat is tentatively scheduled for the December 7, 2020 City Council meeting. The plat creates three tracts for future development, one right-of-way tract, and one stormwater tract. An associated site plan for the development of the 22.5-acre parcel, Tradition Regional Business Park Site Plan (P20-181), is also tentatively scheduled for the December 7, 2020 City Council meeting. Plat No. 33 (P20-171) for property legally described as Southern Grove Plat No. 3, Parcel 30. The property is owned by the Port St. Lucie Governmental Finance Corporation (GFC). The GFC has negotiated a purchase and sale agreement with JDN Enterprises, LLC (Sansone Group) for a 22.5-acre portion of Parcel 30 to be known as Lot 1, Southern Grove Plat No. 33.
Issues/Analysis: Sansone Group has agreed to post a portion of the surety guarantee prior to City Council consideration of the preliminary and final plat but has requested that the remaining portion of the surety be posted after closing on the Contract. City staff is comfortable with this approach as Sansone is contractually obligated to post the remaining portion of the surety at Closing. Additionally, if Closing does not occur GFC is an instrumentality of the City and can either (1) post the remaining portion of the surety; or (2) vacate the plat to eliminate the obligation as the owner of all property subject to the Plat. Additionally, the waiver is conditioned on no permits being issued pursuant to Southern Grove Plat No. 33 until the remainder of the surety is posted.
Financial Information: The amount to be provided at closing and after plat approval will be equal to the sales price (±$1,765,670). The amount to be provided with plat approval and prior to closing will be the difference between the sale price and the cost estimate approved by the Public Works Department.
Special Consideration: N/A
Location of Project: The property is generally located west of Interstate 95, north of Becker Road, east of south SW Village Parkway, and south of the Paar Road right-of-way.
Attachments:
1. Resolution
2. GFC Letter of Request
3. Proposed Southern Grove Plat No. 33
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: 5325
Legal Sufficiency Review:
Reviewed by Elizabeth L. Hertz, Deputy City Attorney. Approved as to Legal form and sufficiency by James D. Stokes, City Attorney.