Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 23-R66, Authorizing 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 and Verano Development, LLC.
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Submitted By: Mary Savage Dunham, Planning & 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 is the remaining balance of the credit as of a defined date.
Presentation Information: Staff will not make a presentation.
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 and Verano Development, LLC.
Alternate Recommendations:
1. Move that the Council amend the recommendation and 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 and Verano Development, LLC.
2. Move that the Council provide direction to staff, extend the timeframe for completion of this item and table to a future date.
Background: True Up Agreements are not intended to modify or replace any existing agreement. They are required to ensure moving forward under the Mobility Fee Ordinance that all parties agree to the prior credit granted, amount used to address assessments and the remaining balance. The remaining balance, as of a defin...
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