Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 25-R79, Approving Agreement to Rebate Stormwater Assessments and Provide for Maintenance of Stormwater Management System for the Wylder Community
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Submitted By: Diana Spriggs P.E., Assistant Director, Public Works
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: W. Lee Dobbins, Esq., Legal Representative, Greenpointe Developers, LLC
2. Parties: City of Port St. Lucie and LTC Ranch West Residential Community Development District
3. Purpose: Authorize entering into an Agreement to Rebate Stormwater Assessments and provide for Maintenance of the Stormwater Management System for the Wylder Community
4. New/Renewal/Modified: New
5. Duration: In perpetuity with no less than 12 months' notice to cancel.
6. Benefits to Port St. Lucie: Improved infrastructure.
7. Cost to Port St. Lucie (Annual and Potential): 75% of the stormwater assessment proceeds from the property within the LTC Ranch West Residential PUD (the "Wylder PUD").
Presentation Information: Questions will be answered by staff upon request.
Staff Recommendation: Move that the Council approve the Agreement.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Agreement.
2. Move that the Council not approve the Agreement.
Background: The LTC Ranch West Residential Community Development District (the "District") was established to serve as the community development district for communities within the Wylder master planned community, for the purposes of planning, financing, constructing, operating and maintaining certain infrastructure benefiting the land within the District's boundaries. This includes but is not limited to the stormwater drainage infrastructure serving and benefitting those communities (the "Wylder Stormwater System"). The Developer of the Wylder PUD is responsible for design...
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