Placement: Resolutions
Action Requested: Motion / Vote
title
Resolution 22-R128, A Resolution to Approve an Amendment to the Impact Fee Mitigation Agreement between Accel International Holdings, Inc., Accel Florida, LLC, and the City of Port St Lucie.
body
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: Elijah Wooten, Economic Development Administrator, City Manager's Office.
2. Parties: City of Port St. Lucie, Accel International Holdings, Inc., and Accel Florida, LLC.
3. Purpose: Accel International requested an amendment to the Impact Fee Mitigation Agreement extending the new jobs schedule one year, due to construction supply constraints and other impacts caused by the COVID-19 pandemic.
4. New/Renewal/Modified: Modification to the Impact Fee Mitigation Agreement between the City of Port St. Lucie, Accel International Holdings, Inc. and Accel Florida, LLC.
5. Duration: The Impact Fee Mitigation Agreement is for a period of ten years from the date of issuance of the Certificate of Occupancy for Accel International's manufacturing facility. It is anticipated the Certificate of Occupancy will be issued by the Building Department in the first quarter of 2023 and the duration of the Impact Fee Mitigation Agreement is from 2023 to 2033.
6. Benefits to Port St. Lucie: Benefits include the expansion of Accel International to Port St. Lucie, the creation of 125 high-wage manufacturing jobs and the $43 million capital investment in real property and personal tangible property in the Tradition Center for Commerce located in the City's jobs corridor.
7. Cost to Port St. Lucie (Annual and Potential): The City paid $168,555 for Accel International's impact fee mitigation in 2022. Amending the Impact Fee Mitigation Agreement does not include any additional cost to the City....
Click here for full text