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HomeMy WebLinkAbout1998 03 09 Regular Item H ., COMMISSION AGENDA REGULAR ITEM H CONSENT INFORMATIONAL March 9. 1998 Meeting REQUEST: The Community Development Department, Land Development Division requests City Commission approval of the Impact Fee Credit Agreement between the City and L & S Developments, Inc. PURPOSE: The purpose of this agenda item is for the City Commission to approve the Impact Fee Credit Agreement between the City and L & S Developments, Inc. This agreement will credit L & S Developments with transportation impact fee costs associated with the construction of twenty seven (27) homes in The Oaks subdivision because of the completion of Shepard Road, a collector road. APPLICABLE CODE: Section 9-386.10. Impact agreement. Any applicant may propose to enter into an impact agreement with the city designed to establish just and equitable fees or their equivalent and standards of service needs appropriate to the circumstances of the specific development proposed. (1) Such an agreement may include, but shall not be limited to provisions which: b. Permit the construction of specific transportation improvements in lieu of or with a credit against the road impact fee assessable. d. Provide for a transfer of credits as provided for in section 9-386-11 to any successor in interest of land. 1 , March 9, 1998 Regular Agenda Item H Page 2 (2) Any agreement proposed by an applicant pursuant to this subsection shall be presented to and approved by the city commission prior to the issuance of a building permit. Any such agreement shall provide for execution by mortgagees, lienholders or contract purchasers in addition to the land owner, and shall require the applicant to record such agreement in the official records of Seminole County. The city commission shall approve such an agreement only if it finds that the agreement will apportion the burden of expenditure for new facilities in a just and equitable manner, consistent with the principles set forth in Florida Statutes and case law. Section 9-386.11. Credits. (a) An applicant shall be entitled to a credit against future road impact fees assessed pursuant to this division for contributions, dedications or improvements required by the city or through agreements with the city, as a condition of any development permit by the city, and said credit shall be in an amount equal to: (1) The cost of non-site-related improvements to the municipal collector road network (including on-site and site-adjacent collectors to the extent such improvements are in excess of or in addition to site-related improvements) (b) The credits shall be based on but not limited to the following criteria: (1) The actual cost, or estimated cost of improvements based on recent bid sheet information of the city or Seminole County, and (2) A pro rata share of the appraised land value of the parent parcel as determined by calculating one hundred twenty (120) percent of appraised value according to the Seminole County Property Appraiser's Office. (3) Any credit issued shall take into account as an offset to said credit an amount equal to the impact fee imposed by section 9-386.7 herein multiplied by the number of units of development permitted to date as if this division had been in effect at the time of issuance of said permits. . (4) The marginal cost of the required improvement, taking into consideration the difference between the cost of the required improvement and the cost of the needed site-related improvements that would have been required in any case. (d) Any credit issued pursuant to this section may only be transferred by the holder of said credits to any successor in interest in the parcel of land to which the credit pertained. i March 9, 1998 Regular Agenda Item H Page 3 ( e) Any agreement for the issuance of credits against any road impact fee assessed pursuant to this division shall be included in an impact agreement as set forth in section 9-386.10. (f) Any petition for the issuance of credits against any road impact fee assessed pursuant to this shall be submitted to the city manager, or his designee, and must contain: (1) A notarized sworn statement that the petitioner is the current owner of the property; (2) A copy of any impact agreement, credit agreement, or other documentation on which the applicant relies for the claim which may pertain to the issuance of such credits; (3) A certified copy of the latest recorded deed; (4) Such other information which may be reasonably necessary to ascertain current ownership of the property and the current status of the agreement for credits. FINDINGS: (1) The developer, as a condition of engineering approval, was required to complete Shepard Road as a collector road. Shepard Road was identified in the Comprehensive Plan as a collector road. The portion of Shepard Road constructed through the Oaks subdivision completed the "missing link" from US 17-92 to Edgemon Avenue. (2) The City Attorney has verbally opined that the requirements of Section 9-386.11(f)(1), (2) are met by the Title Opinion furnished as a requirement of platting The Oaks Subdivision. (3) The City's Traffic Consultant (Conklin, Porter and Holmes Engineers, Inc.) has reviewed all correspondence submitted pursuant to Section 9-386.1 1 (a) and (b) and has determined that the developer is eligible for a maximum transportation impact fee credit in the amount of $72,413.85. (4) The Oaks subdivision consists of twenty seven (27) lots with a calculated transportation impact fee credit of$24,055.65. This amount is less than the eligible maximum credit of$72,413.85 described above and therefore no transportation impact fee will be required for The Oaks Subdivision. The balance of this money is non-assignable. CONCLUSION: The Impact Fee Credit Agreement meets all applicable law and regulations. ';' . .. 'i". March 9, 1998 REGULAR AGENDA ITEM H Page 4 RECOMMENDA TION: The recommendation is that the City Commission approve the Impact Fee Credit Agreement between the City and L & S Developments, Inc. ATTACHMENTS: January 29, 1998 February 23, 1998 COMMISSION ACTION: - Graham, Clark, Jones, Builder, Pratt & Marks Certificate of Title and Encumbrances - Conklin, Porter and Holmes Engineers, Inc. letter to Don LeBlanc, reo The Oaks Subdivision Impact Fee Credit - Impact Fee Credit Agreement -,., 'l GRAHAM, CLARK, JONES, BUILDER, PRATT & MARKS A:rTORNEYS AT LAW J. LINDSAY BUILDER, JR. ScOTT D. CLARK DOUGLAS K. GARTENLAUB JESSE E. GRAHAM JESSE E. GRAHAM. JR. JESSICA K. HEW FREDERICK W. JONES J KFFREY 1. KAPLAN HOWARD S. MARKS SAMUEL M. NELSON JAMES R. Plurr GKOFFREY D. WITHERS 369 NORTH NEW YORK AVENUE POST OFFICE DRAWER 1690. WINTER PARK, FLORIDA 32790 TKLEPHONE (407) 647-441515 TELECOPIER (407) 740 -7063 March 3, 1998 City of Winter Springs Winter Springs, Florida Re: Plat of The Oaks at Winter Springs L & S Developments, Inc., Developer To Whom It May Concern: CERTIFICATE OF TITLE AND ENCUMBRANCES [PURSUANT TO FLA. STAT. ~177.041 (1995)] This firm has obtained a search of the Public Records of Seminole County, Florida for the property described in the attached Exhibit "A" (the "Property"). We have searched for the information prescribed by FLA. STAT. SI77.041 (1995) (the "Statute"). Based upon that title search this firm certifies that as of January 12, 1998 at 5:00 p.m.: Record Owner. The record owner of the Property is L & S DEVELOPMENTS, INe., a Florida corporation. Recorded Mortgages. The following mortgage is the only mortgage of record that has not been satisfied or released of record or barred by statute: Mortgage securing the original principal amount of $140,000.00, dated May 26, 1995, executed by L&S Developments, Inc., a Florida corporation, in favor of Peoples First Community Bank, recorded June 15, 1995, in Official Records Book 2928, Page 489; as amended by Amended and Restated Mortgage and Security Agreement " j March 3, 1998 Page 2 securing the original principal amount of $445,500.00, dated October 13, 1997, executed by L & S Developments, Inc., a Florida corporation, in favor of Peoples First Community Bank, recorded October 23, 1997 in Official Records Book 3315, Page 1797, Public Records of Seminole County, Florida. Taxes. All ad valorem taxes assessed to the Property have been paid through December 31, 1996. Rights-of-way and Easements. The Official Records reflect that the Property is subject to the following rights-of-way, easements and related matters: . Conservation Easement between L & S Developments, Inc., a Florida corporation and S1. Johns River Water Management District filed August 22, 1997, in Official Records Book 3286, Page 154, Public Records of Seminole County, Florida. . Declaration of Easements, Covenants, Conditions, and Restrictions recorded in Official Records Book 1601, Page 1729, Public Records of Seminole County, Florida. . Drainage Easement recorded in Official Records Book 2205, Page 395, Public Records of Seminole County, Florida. . Easements as set forth on North Orlando Ranches Sec. 11 as recorded in Plat Book 13, Pages 22 and 23, Public Records of Seminole County, Florida. . Drainage Easement recorded in Official Records Book 2205, Page 395, Public Records of Seminole County, Florida. . Easements as set forth on North Orlando Ranches Sec. 11 as recorded in Plat Book 13, Pages 22 and 23, Public Records of Seminole County, Florida. ,. 'I March 3, 1998 Page 3 We render no opinions with respect to matters that are not disclosed in the Official Records of Seminole County, Florida. The person signing this opinion is an attorney-at-law licensed in Florida. Sincerely yours, By: GRAHAM, CLARK, JONES, BUILDER, PRATT&M~~~ ~~ Scott D. Clark For the Finn 7 EXHIBIT "A" That part of NORTH ORLANDO RANCHES SEC. 11, recorded in Plat Book 13, Pages 22 and 23, of the Public Records of Seminole County, Florida, lying in Section 34, Township 20 South, Range 30 East, Seminole County, Florida, and being more particularly described as: Begin at the most Southerly comer of Lot 30, IDGHLAND LAKE PHASE 2 recorded in Plat Book 48, Page 28, of the Public Records of Seminole County, Florida, thence N 54046'0 I" E, 417.90 feet along the Southeasterly line of said IDGHLAND LAKE PHASE 2 to the most Easterly comer of Tract "C" of said IDGHLAND LAKE PHASE 2, said comer lies on the Southerly line of Tract 1 of OVIEDO FARMS recorded in Plat Book 6, Page 86, of the Public Records of Seminole County, Florida; thence S. 86055'19" E, 347.87 feet along the Southerly line of said Tract I to a point on a curve, said curve being concave Easterly having a radius of 2,466.83 feet; thence leaving the Southerly line of said Tract I from a tangent bearing of S 25022'33" E run Southerly along the arc of said curve 350.62 feet through a central angle of 08008'37"; thence leaving said curve from a tangent bearing ofS 33031 '10" E run S 71024'53" E, 74.99 feet to the Northerly right-of-way line of Edgemon Avenue; thence S 54046'01" W, 644.99 feet along said Northerly right-of-way to the most Easterly comer of Lot 14, Block 17, of said NORTH ORLANDO RANCHES SEe. 11; thence leaving said right-of-way run N 35013'59" W, 175.00 feet along the Northeasterly line of said Lot 14, Block 17, to the most Northerly comer of said Lot 14, Block 17, thence S 54046'01" W, 210.00 feet along the Northwesterly line of Lots 14 and 15 of said Block 17; thenceN 35013'59" W, 32.05 feet; thence S. 54046'01" W, 185.00 feet to the Westerly line of Block 18 of said NORTH ORLANDO RANCHES SEC. 11; thence N 35013'59" W, 119.96 feet along said Westerly line of said Block 18 to the Point of Curvature ofa curve concave Easterly having a radius of 1,715.00 feet; thence run Northerly 383.46 feet along the arc of said curve through a central angle of 12048'39" to the most Easterly comer of Lot 11, Block 19, of said NORTH ORLANDO RANCHES SEe. 11; thence S 67034'40" W, 125.18 feet along the Southerly line of said Lot 11, Block 19, to the most Easterly comer of Tract "B," IDGHLAND VILLAGE TWO, recorded in Plat Book 40, Pages 40 and 41, of the Public Records of Seminole County, Florida; thence N 20030'37" W, 468.48 feet along the Easterly line of Lots 98, 99, 100, 101, 102, 103, 104, 105, 106, 107 and Tract "B" to the most Southerly comer of Lot 95 of said IDGHLAND VILLAGE TWO; thence N 65023'06" E, 135.00 feet along the Southeasterly line of Lots 93, 94 and 95 of said IDGHLAND VILLAGE TWO; thence N 5r 52'50" E, 81.47 feet along the Southeasterly line of Lots 92 and 93 to the most Easterly comer of Lot 92; thence N 35000'08" E, 134.90 feet along the Southeasterly line of Lots 89, 90 and 91 to the Southwesterly line of said HIGHLAND LAKE PHASE 2; thence S 31014'14" E, 581.14 feet along the Southwesterly line of Lots 30, 31, 32, 33, 34, 35, 36, 37, 38 and 39 of said IDGHLAND LAKE PHASE 2 to the POINT OF BEGINNING. ... ! .: ( I , ( I ! r-- I ( 1+ --.--i r'- I ;' (" - ( ( + + nM I V MLU&;.;J SEMINOLE COUNTY TAX COLLECTOR -.;;. 1997 REAL ESTATE TAX CERTIFICATE SALE 05i27/98 NOTICE OF AD VALOREM TAXES AND NON-AD VALOREM ASSESSMENTS -/- Paid By: SUMMERPARK HOMES INC 1190 N FAIRWAY DR APOPKA FL 32772 LEG PT OF BLKS 17 18 & 19 DESC AS BEG 225 FT N 80 DEG 18 MIN 19 SEC E & 109.20 FT N 67 DEG 34 MIN 40 SEC OF SW COR BLK 19 RUN N 67 DEG 34 . MIN 40 SEC E 125.18 FT SELY ON CURVE 383.46 FT S 35 DEG 13 MIN 59 (CONTINUATION ON TAX ROLL) AFTER MARCH 31, CERTIFIED FUNDS ONLY PLEASE PAY IN U.S. FUNDS TO RAY VALDES TAX COLLECTOR' P.O. BOX 830, SANFORD, FL 32772-0830 E PAY ONLY ONE AMOUNT + 1.5:~~ lS0~0-CH:dK 1 of 2 1,454.83 + 2111 RAY VALDES SEMINOLE COUNTY TAX COLLECTOR ~t~:~L~ 046953 1997 REAL ESTATE TAX CERTIFICATE SALE OS/27/98 NOTICE OF AD VALOREM TAXES AND NON.AD VALOREM ASSESSMENTS + Paid By: SUMMERPARK HOMES INC 1190 N FAIRWAY DR APOPKA FL 32772 LEG BEG NW COR LOT 13 BLK 17 RUN S 35 DEG 13 MIN 59 SEC E 175 FT N 54 DEG 46 MIN 1 SEC E 721.15 FT NELY & NWLY ON CURVE 319.41 FT N 86 DEG 54 MIN 58 SEC W 517.75 FT (CONTINUATION ON TAX ROLL) PAD: EDGEMON/BEVERLY/CRMN AFTER MARCH 31, CERTIFIED FUNDS ONLY PLEASE PAY IN U.S. FUNDS TO RAY VALDES TAX COLLECTOR. P.O. BOX 830. SANFORD, FL 32772.0830 o 3 PAY ONLY QNE AMOUNT + 1,700.48 Assesse to: L & S DEV INC 1190 N FAIRWAY DR APOPKA FL 32712 2111 2 of 2 ... :/0;tn<:;.l.~.. ;\::::~)\.':.'~": ." "0",:":: . . '.:. . , ,.' . ." ", ;'-:'. ," '" ".',', . .. '.'.,' ; .;.: ":'~'::.\; ':.;~::. , . :. ~: It ..f Conklin, ~orter and Holmes ENGINEERS, INC. ~ ~ "" . RO~NSON ,""ea. SUITe C ~ ORLANDO, FLORIDA 32801-2092 . TEL 407 -425-G452 FAX #407-648-1036 February 23, 1998 Mr. Don LeBlanc City of Winter Springs 1126 East S.R. 434 Winter Springs, Florida 32708-2799 RE: The Oaks Subdivision Impact Fee Credit CPH Project No. W0403.08 Dear Mr. LeBlanc: The owner of The Oaks Sudivision property constructed a continuation of Shepard Road through the property. He has requested a roadway impact credit for construction of this collector road, i.e., Shepard Road. The subdivision consists of twenty-seven single family homes and the transportation impact fee in the City of Winter Springs is $890.95 per single family unit for a total of $24,055.65. Traffic Planning and Design submitted a report for the property owner with a letter revision for actual construction costs. We approve of the methodology used to calculate the traffic flow, but we found it necessary to revise the assoCiated cost figures for the impact fee credit. Their revised letter report concluded that the credit was $147,474.12. Attached to that letter was a letter from the project design engineer, Mr. AI Land, which does not contain the same figures. We can only asswne that other non-eligible costs were included. For purposes of a transportation impact fee credit, only roadway construction costs can be included. The roadway costs reported by Mr. Land total $65,629.00 and if added to the ROW cost, .total $73,786.27. The 1997 Winter Springs Transportation Study, the basis of the above impact fee, used a LOS "D" of 10,200 vehicles per day for two-lane roads. Therefore, a small revision of the excess capacity calculation on page 8 of the submitted report was required. Instead of an excess capacity of98.72%, it was revised to 98.14%. Applying this percentage to the allowable roadway construction costs yields a value of$72,413.85, which exceeds the assessed transportation impact fee for twenty-seven single family units. Therefore, no Winter Springs transportation impact fee will be required for The Oaks Subdivision. Conklin, r1!...orter and Holmes @ ~ l.n) ENGINEERS, INe. If you have any questions, please call. Sincerely, CONKLIN, PORTER AND HOLMES - ENGINEERS, INC. TMZ/ja . W040308.LEB/dS IMPACT FEE CREDIT AGREEMENT THIS IMPACT FEE CREDIT AGREEMENT (hereinafter called "Agreement") is made and entered into by and between the CITY OF WINTER SPRINGS, a political subdivision of the State of Florida whose address for purposes of this Agreement is 1126 East State Road 434, Winter Springs, Florida 32708 (hereinafter called "City") and L & S Developments, Inc., a Florida Corporation (hereinafter called "L & S") whose address for purposes of this Agreement is 279 Chiswell Place, Heathrow, Florida 32746. RECITALS A. The City has determined, through the Highland Planned Unit Development Master Plan and the Comprehensive Pland adopted April 1992, that Shepard Road is a collector road. B. L & S has constructed and dedicated that portion of Shepard Road associated with the subdivision known as The Oaks to the perpetual use of the public. C. This Agreement is being entered into pursuant to Section 9-386 of the Code of Ordinances, City of Winter Springs, Florida, as is, and as may be amended. NOW, THEREFORE, for and in consideration of the sum Ten and Noll 00 Dollars ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledge by the parties, the City and L & S hereby agree as follows: 1. Recitals. The above referenced recitals are true and correct and are hereby incorporated into this Agreement for all purposes. 2. City's Findings. The City finds that this Agreement will apportion the burden of expenditure for new facilities in a just and equitable manner, consistent with the principles set forth in Florida Statutes and case law. 3. Acknowledgment and Grant of Credits. As a result ofL & S being the party constructing that portion of Shepard Road, the City hereby approves, establishes and grants in favor ofL & S the right and entitlement to transportation impact fee credits against transportation impact fees assessed pursuant to the Code of Ordinances. The credits result from the dedication, planning, development and construction of that portion of Shepard Road as required by the City in the Comprehensive Plan and the Highlands Planned Unit Development Master Plan. Futher, the City hereby acknowledges, agrees, establishes and affirms the status of that portion of Shepard Road as a collector road, as is the rest of Shepard Road not constructed by L & S. ~ ;,. 4. Calculation of Credits. As a result of the dedication, planning, development and construction of that portion of Shepard Road, the City hereby establishes an impact fee credit in favor ofL & S in the aggregate amount of$72,413.85. The amount of the credit has been calculated based upon the costs of dedicating, planning, developing and constructing that portion of Shepard Road and upon the land value of the right-of-way, all in accordance with Section 9-386 of the Code. The credits can be used as an off-set against road impact fees assessed for land development activity occurring within The Oaks subdivision, which contains twenty seven (27) lots. The City shall not be required to make reimbursement for any excess credits not utilized as an off-set against road impact fees. 5. Credit Amount. The City hereby establishes a transportation impact fee credit account (hereinafter called "Credit Account") in the amount of$72,413.85 for the benefit ofL & S. 6. Expenditure of Credits. (a) IfL & S or any of its successors in title to The Oaks subdivision have paid transportation impact fees prior to the effective date of this Agreement in connection with the development of said subdivision, or any portion thereof, the City shall reimburse L & S for said previously paid fees within sixty (60) days of the effective date of this Agreement, and such amounts shall be deducted from the Credit Account. (b) If L & S or any of its successors in title to The Oaks subdivision, or any portion thereof, are subject to a transportation impact fee payment after the effective date of this Agreement in connection with the development of the subdivision, or any portion thereof, the transportation impact fee which would otherwise be payable shall upon the City's receipt of the appropriate assignment instrument(s) referenced in Paragraph 7 below, be deducted from the credits then available under the Credit Account and such fee shall then be deemed paid in full. (c) Notwithstanding anything contained in this Agreement to the contrary, if the City is paid a transportation impact fee after the effective date of this Agreement in connection with development activity within any portion of The Oaks subdivision, and there remain credits available under the Credit Account, the City shall refund to L & S that fee within thirty (30) days of its receipt of said fees, however, the amount the City pays to L & S shall not exceed the amount of the credits that remain in the Credit Account. Excess credits remaining, if any, after development of said property are non-payable and non-transferable. 7. Evidence of Right to Use Credits/Assignments of Credits. 2 .' (a) The Credit Account shall be established by the City in the name ofL & S, The credits may be assigned by written assignment instrument executed by L & S. Any assignee from L & S may further assign the credits for use in conjunction with the remaining The Oaks subdivision property by executing an appropriate assignment instrument (b) An assignmnent or transfer of transportation impact fee credits shall be effectuated by a written assignment instrument reasonably satisfactory to the City. In the case of any such assignment, the assignor may require the assignee to pay consideration for the assignment of the credits. Upon presenting the assignment instrument to the City, the assignee shall receive a receipt for the amount of credit assigned; provided, however, in no sevent shall the receipt be for an amount greater than the amount of credits that remain unused and in the Credit Account with the City. 8. Binding Effect This Agreement shall be binding upon and shall inure to the benefit of the City, L & S and their respective successors and assigns. 9. Miscellaneous. (a) Governing Law. This agreement shall be governed by and construed in accordance with Section 9-386 of the Code of Ordinances and the applicable laws of the State of Florida. (b) Severability. Any provision of this Agreement which is legally unenforceable shall be ineffective to the extent of such unenforceability without invalidating or impairing the remaining provisions hereof (c) Effective Date. This Agreement shall become effective upon the last date of execution of this Agreement by the parties. (d) Attorney Fees. In the event of any dispute hereunder or of any action to interpret or enforce this Agreement, any provision hereof or any matter arising herefrom, the prevailing party shall be entitled to recover from the non-prevailing party its reasonable costs, fees and expenses, including, but not limited to, witness fees, expert fees, consultant fees, attorney, paralegal and legal assistance fees, costs and expenses and other professional fees, costs and expenses whether suit be brought or not, and whether in settlement, in any declaratory action, at trial or appeal. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written below. 3 . "L & S" A FLORIDA CORPORATION Signed, sealed and delivered in the presence of L & S Developments, Inc. Print Name: By: Print Name: Title: Print Name: ST A TE OF FLORIDA COUNTY OF The foregoing instrument was acknowledged before me this _ day of 1998, by , as ofL & S, a Florida corporation, on behalf of the corporation. Said person ( check one) ( ) is personally known to me, ( ) produced Print Name: Notary Public, State of Florida Commission No.: My Commission Expires: 4 . PEOPLES FIRST COMMUNITY BANK Signed, sealed and delivered in the Presence of: By: Print Name: Title: Print Name: Print Name STATE OF FLORIDA COUNTY OF The foregoing instrument was acknowledged before me this day _ of 1998, by , as Peoples First Community Bank. Said person ( check one) ( ) is personally known to me, ( ) produced Print Name: Notary Public, State of Florida Commission No.: My Commission Expires: 5 '. "CITY" CITY OF WINTER SPRINGS, political subdivision of the State of Florida Print Name: By: Name: PAUL P. PARTYKA Title: MAYOR Print Name: STATE OF FLORIDA COUNTY OF SEMINOLE The foregoing instrument was acknowledged before me this _ day of 1998, by PAUL p, PARTYKA as MAYOR of the City of Winter Springs, Florida, a political subdivision of the State of Florida, Said person (check one) ( ) is personally known to me, ( ) produced Print Name: Notary Public, State of Florida Commission No,: My Commission Expires: THIS INSTRUMENT PREPARED BY: Donald R. LeBlanc Land Development Coordinator City of Winter Springs 1126 East SR 434 Winter Springs FL 32708 6 '"i 7 / ~ IMPACT FEE CREDIT AGREEMENT ~~ THIS IMPACT FEE CREDIT AGREEMENT (hereinafter called "Agreement") is made and entered into by and between the CITY OF WINTER SPRINGS, a political subdivision of the State of Florida whose address for purposes of this Agreement is 1126 East State Road 434, Winter Springs, Florida 32708 (hereinafter called "City") and L & S Developments, Inc., ~ Florida Corporation (hereinafter called "L & S") whose address for purposes of this Agreements 279 Chiswell Place, Heathrow, Florida 32746. ~ r e+± n RECITALS° -+n r A. The City has determined, through the Highland Planned Unit Development Master Plan and the Comprehensive Pland adopted April 1992, that Shepard Road is a collector road. B. L & S has constructed and dedicated that portion of Shepard Road associated with the subdivision known as The Oaks to the perpetual use of the public. C. This Agreement is being entered into pursuant to Section 9-386 of the Code of Ordinances, City of Winter Springs, Florida, as is, and as may be amended. ~1~, NOW, THEREFORE, for and in consideration of the sum Ten and No/100 Dollars l~ ' ($10.00), and other good and valuable consideration, the receipt and sufficiency of which is .~' hereby acknowledge by the parties, the City and L & S hereby agree as follows: 1. Recitals. The above referenced recitals are true and correct and are hereby ~' incorporated into this Agreement for all purposes. 2. Citv's Findings. The City finds that this Agreement will apportion the burden of expenditure for new facilities in a just and equitable manner, consistent with the principles set forth in Florida Statutes and case law. ~ 3. Acknowledgment and Grant of Credits. As a result of L & S being the party constructing that portion of Shepard Road, the City hereby approves, establishes and grants in ~~ favor of L & S the right and entitlement to transportation impact fee credits against transportation 4 ~-/ impact fees assessed pursuant to the Code of Ordinances. The credits result from the dedication, ~ planning, development and construction of that portion of Shepard Road as required by the City ~ in the Comprehensive Plan and the Highlands Planned Unit Development Master Plan. Futher, the City hereby acknowledges, agrees, establishes and affirms the status of that portion of Shepard Road as a collector road, as is the rest of Shepard Road not constructed by L & S. :. ~.O tV ~D -v c..~ co N ~. 0 m • 4. Calculation of Credits. As a result of the dedication, planning, development and construction of that portion of Shepard Road, the City hereby establishes an impact fee credit in favor of L & S in the aggregate amount of $72,413.85. The amount of the credit has been calculated based upon the costs of dedicating, planning, developing and constructing that portion of Shepard Road and upon the land value of the right-of--way, all in accordance with Section 9-386 of the Code. The credits can be used as an off-set against road impact fees assessed for land development activity occurring within The Oaks subdivision, which contains twenty seven (27) lots. The City shall not be required to make reimbursement for any excess credits not m utilized as an off-set against road impact fees. 3 D r 5. Credit Amount. The City hereby establishes a transportation impact fee credit accot~ (hereinafter called "Credit Account") in the amount of $72,413.85 for the benefit of L & S. ~ r 6. Expenditure of Credits. (a) If L & S or any of its successors in title to The Oaks subdivision have paid transportation impact fees prior to the effective date of this Agreement in connection with the development of said subdivision, or any portion thereof, the City shall reimburse L & S for said previously paid fees within sixty (60) days of the effective date of this Agreement, and such amounts shall be deducted from the Credit Account. (b) If L & S or any of its successors in title to The Oaks subdivision, or any portion thereof, are subject to a transportation impact fee payment after the effective date of this Agreement in connection with the development of the subdivision, or any portion thereof, the transportation impact fee which would otherwise be payable shall upon the City's receipt of the appropriate assignment instrument(s) referenced in Paragraph 7 below, be deducted from the credits then available under the Credit Account and such fee shall then be deemed paid in full. (c) Notwithstanding anything contained in this Agreement to the contrary, if the City is paid a transportation impact fee after the effective date of this Agreement in connection with development activity within any portion of The Oaks subdivision, and there remain credits available under the Credit Account, the City shall refund to L & S that fee within thirty (30) days of its receipt of said fees, however, the amount the City pays to L & S shall not exceed the amount of the credits that remain in the Credit Account. Excess credits remaining, if any, after development of said property are non-payable and non-transferable. 7. Evidence of Right to Use Credits/Assignments of Credits. ~~ ..D o ~* N ~ D r' ~~; O ~~ _ ..J :.J ,o ~ :.:7 0 ~icf 2 _ _ • • (a) The Credit Account shall be established by the City in the name of L & S. The credits may be assigned by written assignment instrument executed by L & S. Any assignee from L & S may further assign the credits for use in conjunction with the remaining The Oaks subdivision property by executing an appropriate assignment instrument. (b) An assigmm~ent or transfer of transportation impact fee credits shall be effectuated by a written assignment instrument reasonably satisfactory to the City. In the case of any such m assignment, the assignor may require the assignee to pay consideration for the assignment of th= credits. Upon presenting the assignment instrument to the City, the assignee shall receive a ~ receipt for the amount of credit assigned; provided, however, in no sevent shall the receipt be fob an amount greater than the amount of credits that remain unused and in the Credit Account witlf~ the City. ~ Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the City, L & S and their respective successors and assigns. 9. Miscellaneous. (a) Governing Law. This agreement shall be governed by and construed in accordance with Section 9-386 of the Code of Ordinances and the applicable laws of the State of Florida. (b) Severability. Any provision of this Agreement which is legally unenforceable shall be ineffective to the extent of such unenforceability without invalidating or impairing the remaining provisions hereof. (c) Effective Date. This Agreement shall become effective upon the last date of execution of this Agreement by the parties. (d) AttorneX Fees. In the event of any dispute hereunder or of any action to interpret or enforce this Agreement, any provision hereof or any matter arising herefrom, the prevailing party shall be entitled to recover from the non-prevailing party its reasonable costs, fees and expenses, including, but not limited to, witness fees, expert fees, consultant fees, attorney, paralegal and legal assistance fees, costs and expenses and other professional fees, costs and expenses whether suit be brought or not, and whether in settlement, in any declaratory action, at trial or appeal. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the as c,n N ~ c~ v ~- Q c~ ~a ~ ~ .'.J ,-sir: day and year first written below. 4 • • „L W V /' STATE OF FLORIDA COUNTY OF Seminole A FLORIDA CORPORATION ~..,~ ~, :~J own L & S Developments, Inc. 3 N ~~ °r ~ '"~'~ "- c'~ 0 c~ o -~-, .:~ .~I~ ! y Print Name: / iji~ G ~ ~ Title: ~~~ ~ / ~~ti ~ , The foregoing instrument was acknowledged before me this I9th day of March 1998, by Louie DiMillo , aS president of L & S, a Florida corporation, on behalf of the corporation. Said person (check one) (x) is personally known to me, ( )produced Print Name: Irene M. Dessez ~^ Notary Public, State of Florida Commission No.: My Commission Expires: OFFICIAL NOT S ~AL IRENE M bESSEZ 4 NOTARY PUBLIC STATE OF FLORIDA COMMISSION NO. CC456727 MY COMMISSION EXP. M Z 1~i Signed, sealed and delivered in the presence of. ~ ~~~, Print Name: Irene M. Dessez Print me: ,' • • PEOPLES FIRST COMMUNITY BANK Signed, sealed and delivered ,..a ~ in the Presence of: ~ ~ °~-n ~~ ~ N v © r- rt+~. n ~ ~ :~ Print Name: Irene M. Dessez Print Name: Ronald A. Leach ~ lfl `,"n`c~ls Tltle: Assistant Vice President ~ G~~~° Print Na e STATE OF FLORIDA COUNTY OF Seminole The foregoing instrument was acknowledged before me this day 19th of r>ar~h , 1998, by Ronald A. Leach aS ASSTS n Vi pTPSI dent Peoples First Community Bank. Said person (check one) (g) is personally known to me, ( )produced Print Name: Irene M. Dessez~~_ Notary Public, State of Florida Commission No.: My Commission Expires: OFFICIAL NOTARY g .AL NO'T'ARY P BL[C S ATE OF FLORIDA COMMISSION NO. CC456727 MY COMMISSION EXP. MAY 2] 1999 5 ~~ • ,~C><TY,~ Print Name:~oNAt.~ 1~ . ~--~~~.-ANL G:~-~-+~ P ' tName: ~~.h~c.e... PG~~0. -ho STATE OF FLORIDA COUNTY OF SEMINOLE i CITY OF WINTER SPRINGS, political subdi ision o he e Flori By: Name: PAUL P. PARTYK Title: MAYOR rn 3 z 0 '*+ n 0 The foregoing instrument was acknowledged before me this ~32 day of ~IR~C~~ r 1998, by PAUL P. PARTYKA as MAYOR of the City of Winter Springs, Florida, a political subdivision of the State of Florida. Said person (check one) (~ personally known to me, ( )produced Print me: Notary Public, State of Florida Commission No.: My Commission Expires: THIS INSTRUMENT PREPARED BY: Donald R. LeBlanc Land Development Coordinator City of Winter Springs 1126 East SR 434 Winter Springs FL 32708 vPt-RY ~~ ~ MARQO M HOPKIN3 ~ My Cort~inialon CCd0374S '*'* Expires Aup. 28, 196 '' ~ BondstJ by ANB ~~ a,~ eoo-e52-sees ....~ LD °a~n N x D r .ts "7~ (, r7 ._._ _ r (~ ~ 1 ~ .~' •' `J' 6