Placement: Consent Agenda
Action Requested: Motion / Vote
title
Approve the First Amendment to Interlocal Agreement between the City of Port St. Lucie and the River Place on the St. Lucie Community Development District.
body
Submitted By: Clyde Cuffy, P.E., Public Works
Strategic Plan Link: The City's Goal of high-quality infrastructure and facilities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: River Place on the St. Lucie Community Development District
2. Parties: City of Port St. Lucie and River Place on the St. Lucie Community Development District
3. Purpose: To amend the Interlocal Agreement between the City of Port St. Lucie and the River Place on the St. Lucie Community Development (CDD) for the City to provide supplemental draw down funds to the CDD to complete the remaining improvements associated with the River Place on the St. Lucie No. 10 1st Replat.
4. New/Renewal/Modified: Modified
5. Duration: N/A
6. Benefits to Port St. Lucie: This will release funds from the Letter of Credit (LOC) for completion of the remaining plat infrastructure in accordance with the approved plans.
7. Cost to Port St. Lucie (Annual and Potential): There is no cost to the city.
Presentation Information: Staff will be available to answer any questions.
Staff Recommendation: Move that the Council approve the amended Interlocal Agreement between the City of Port St. Lucie and the River Place on the St. Lucie Community Development.
Alternate Recommendations:
1. Move that the Council amend the recommendation and approve the amended Interlocal Agreement.
2. Move that the Council not approve and provide staff direction.
Background: River Place Builders, LLC (Developer) provided an Irrevocable Letter of Credit (LOC) as a surety for infrastructure associated with the River Place on the St Lucie No. 10 1st Replat. The Developer has failed to complete pavement repair, final pavement and final striping. The developer has indicated that they have no funds ava...
Click here for full text