Placement: Consent Agenda
Action Requested: Motion / Vote
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Approve Settlement Agreement with ACR Acquisition, LLC
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Submitted By: Elizabeth L. Hertz, Senior Deputy City Attorney, City Attorney's Office.
Strategic Plan Link: N/A
Executive Summary (General Business): Approve Settlement Agreement with ACR Acquisition, LLC ("ACR") to resolve that certain lawsuit styled ACR Acquisition, LLC v. City of Port St. Lucie, et al (the "Lawsuit").
Presentation Information: Staff is available to answer questions upon request.
Staff Recommendation: Move that the Council approve entering into Settlement Agreement to resolve the Lawsuit and grant the Mayor, or the Mayor's designee, authority to execute the Settlement Agreement.
Alternate Recommendations:
1. Move that the Council amend the recommendation, approve entering into the Settlement Agreement, and grant the Mayor, or the Mayor's designee, authority to execute the Settlement Agreement.
2. Move that the Council disapprove entering into the Settlement Agreement
Background: The Lawsuit, initially filed on February 25, 2015, stems from a disagreement between ACR and other developers under the annexation agreement entered into by and among the developers and the City on July 19, 2004. It concerns developers' obligations to pay for the design and construction of a road (known as "Becker Road") through their properties so that ACR could develop its property. ACR sued the City for choosing whether, when and how to enforce the contractual obligations of other developers with respect to Becker Road.
Issues/Analysis: ACR has agreed to enter into the attached Settlement Agreement to resolve the Lawsuit. City staff recommends that the City approve the Settlement Agreement and grant the Mayor or the Mayor's designee authority to execute the Settlement Agreement.
Financial Information: N/A
Special Consideration: N/A
Location of Project: N/A
Attachments:
1. Partially Executed Settlement Agreement
NOTE:...
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