Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 21-R149, A Resolution of the City Council of the City of Port St Lucie Approving the Mobility and Impact Fee Mitigation Agreement for Accel Florida, LLC on Behalf of Accel International Holdings, Inc.
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Submitted By: Elijah Wooten, Economic Development Administrator, City Manager's Office.
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 City of Port St. Lucie, Accel Florida, LLC on behalf of Accel International Holdings, Inc.
3. Purpose: The City approved an economic development impact fee mitigation to attract Accel International Holdings, Inc.'s manufacturing facility to Port St. Lucie.
4. New/Renewal/Modified: New agreement.
5. Duration: The term of the attached agreement is (10) ten years from the date of issuance of the Certificate of Occupancy.
6. Benefits to Port St. Lucie: The attraction of Accel International Holdings' manufacturing facility creates 125 new jobs and secures $55 million in new construction and equipment purchases in the Tradition Center for Commerce located in the City's jobs corridor.
7. Cost to Port St. Lucie (Annual and Potential): The owner/landlord in conjunction with Accel International Holdings, Inc. is entitled to a waiver of up to $437,500 in Port St. Lucie roads, 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 for Hegener Drive 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 mobility and impact fee mitigation agree...
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