Placement: Resolutions
Action Requested: Motion / Vote
title
Resolution 26-R08, Approve First Amendment to Parks Impact Fee Funding Agreement for Torino Regional Park
body
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 ...
Click here for full text