Placement: Resolutions
Action Requested: Motion / Vote
title
Resolution 22-R55, A Resolution of the City of Port St. Lucie Approving the Impact Fee Mitigation Agreement for Cheney Bros., Inc.
body
Submitted By: Elijah Wooten, Economic Development Administrator.
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Deputy City Attorney Elizabeth Hertz.
2. Parties: City of Port St. Lucie Cheney Bros., Inc.
3. Purpose: The City approved an impact fee mitigation agreement to attract Cheney Bros. Inc.'s food wholesale and distribution facility to Port St. Lucie.
4. New/Renewal/Modified: New agreement.
5. Duration: The attached agreement is for a term of ten (10) years after the issuance of a Certificate of Occupancy.
6. Benefits to Port St. Lucie: The attraction of Cheney Bros., Inc. food wholesale and distribution facility will create 275 jobs and secures a $72 million capital investment in new construction, machinery and equipment in Legacy Distribution Park at Tradition located in the City's jobs corridor.
7. Cost to Port St. Lucie (Annual and Potential): The Company is entitled to an impact fee waiver up to $962,500 in Port St. Lucie Mobility, Parks, Public Buildings, and Law Enforcement, impact fees for the project. The impact fees will be paid from the Tradition Economic Development Fund and/or from the Governmental Finance Corporation's sales proceeds that are allocated for infrastructure improvements in the Tradition Center for Commerce.
Presentation Information: Staff will make a brief five minute presentation.
Staff Recommendation: Move that the Council approve the economic development impact fee mitigation agreement between the City of Port St. Lucie and Cheney Bros., Inc.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the economic development impact fee mitigation agreement.
2. Move that the Council no...
Click here for full text