Placement: Resolutions
Action Requested: Motion / Vote
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Resolution 23-R132, A Resolution to Approve a Second Amendment to the Impact Fee Mitigation Agreement Between Accel International Holdings, Inc., Accel Florida, LLC, and the City of Port St Lucie.
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Submitted By: Elijah Wooten, Economic Development Administrator, City Manager's Office.
Strategic Plan Link: The City's Goal of a diverse local economy and employment opportunities.
Summary Brief (Agreements/Contracts only)
1. Prepared by: Elijah Wooten, Economic Development Administrator, City Manager's Office.
2. Parties: City of Port St. Lucie Accel International Holdings, Inc., and Acel Florida, LLC.
3. Purpose: Accel International requested a second amendment to the Impact Fee Mitigation Agreement to modify their employment schedule.
4. New/Renewal/Modified: Modification to the Impact Fee Mitigation Agreement between the City of Port St. Lucie, Accel International Holdings, Inc. and Accel Florida, LLC.
5. Duration: The Impact Fee Mitigation Agreement is for a period of ten years from the date of issuance of the certificate of occupancy for Accel International's manufacturing facility. The Building Department issued the certificate of occupancy in March 2023 and the duration of the impact fee mitigation agreement is from 2023 to 2033.
6. Benefits to Port St. Lucie: The expansion of Accel International to Port St. Lucie, the creation of one hundred twenty-five (125) high-wage manufacturing jobs and the $43 million capital investment in real property and personal tangible property in the Tradition Center for Commerce located in the City's jobs corridor.
7. Cost to Port St. Lucie (Annual and Potential): The City paid $168,555 for Accel International's impact fee mitigation in 2022. Amending the impact fee mitigation agreement does not include any additional cost to the City.
Presentation Information: Elijah Wooten, Economic Development Administrator, will make a brief ten (10) minute presenta...
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