Placement: Resolutions
Action Requested: Motion / Vote
title
Resolution 24-R31, Authorizing the City Manager, or His Designee, to Enter and Execute a True-Up Agreement for Road Impact Fee Credits between the City of Port St. Lucie, Stuart Property Holdings, LTD. and St. Lucie Land, LTD.
body
Submitted By: Mary Savage-Dunham, Planning and Zoning.
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Executive Summary (General Business): The City's Mobility Fee Ordinance agreed to honor existing agreements approved by the City that granted City Road Impact Fee Credits. As part of honoring these existing agreements, the Mobility Fee Ordinance included a requirement for a True-up Agreement. The intent of the True-up Agreement is to clearly identify the Road Impact Fee Credit granted by the City, the source of the credit, how much of the credit has been utilized towards City Road Impact Fee assessments, and what the remaining balance of the credit is as of a defined date.
Presentation Information: Staff will be available to respond to questions.
Staff Recommendation: Move that the Council authorize the City Manager or his designee to enter into and execute a True-Up Agreement for Road Impact Fee Credits between the City of Port St. Lucie, Stuart Property Holdings, LTD., and St. Lucie Land, LTD .
Alternate Recommendations:
1. Move that the Council amend the recommendation and authorize the City Manager or his Designee to enter and execute a True-Up Agreement for Road Impact Fee Credits between the City of Port St. Lucie, Stuart Property Holdings, LTD and St. Lucie Land, LTD.
2. Move that the Council provide direction to staff.
Background: True-Up agreements are not intended to modify or replace any existing agreements. They are required to ensure that moving forward under the Mobility Fee Ordinance all parties agree to the credit granted, amount used...
Click here for full text