Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 25-R14, a Resolution of the City Council of the City of Port St. Lucie Approving a Third Amendment to the Impact Fee Mitigation Agreement between the City of Port St. Lucie, Accel Florida, LLC, and Accel International Holdings, Inc.
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Submitted By: Elijah Wooten, Economic Development Administrator
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Deputy City Attorney Carly Fabien
2. Parties: City of Port St. Lucie , Accel Florida, LLC, and Accel International Holdings, Inc.
3. Purpose: The Accel site (40 acres) was recently re-platted to accommodate Project King, resulting in a revised legal description for the remaining Accel property (16.96 acres). The Third Amendment to the Impact Fee Mitigation Agreement updates the legal description and parcel boundaries.
4. New/Renewal/Modified: Modification
5. Duration: The term of the Impact Fee Mitigation Agreement is (10) ten years from the date of issuance of the Certificate of Occupancy.
6. Benefits to Port St. Lucie: The attraction of Accel International Holding's manufacturing facility is the creation of 125 jobs and $55 million in new construction and equipment purchases in the Tradition Center for Commerce located in the Southern Grove Jobs Corridor.
7. Cost to Port St. Lucie (Annual and Potential): In 2021, the City of Port St. Lucie City Council approved mitigating $168,555 in impact fees per the Impact Fee Mitigation Agreement.
Presentation Information: Staff will make a brief presentation.
Staff Recommendation: Move that the Council approve the Third Amendment to the Impact Fee Mitigation Agreement between the City of Port St. Lucie, Accel Florida, LLC, and Accel International Holdings, Inc.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the Third Amendment to the Impact Fee Mitiga...
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