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DV A-06-001
DEVELOPMENT AGREEMENT BETWEEN THE BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC.
This Agreement is made and entered into this 17th day of October, 2006, by and betweed
ST. LUCIE COUNTY, a political subdivision of the State of Florida (the "Board"), and
INCOM PROPERTIES 31, INC. (the "Developer").
RECITALS
WHEREAS, the Board and the Developer recognize the following:
A. This Agreement is entered into in accordance with the Florida Local Government
Development Agreement Act, 163.3220-163.3243, Florida Statues (Act), and Section
11.08.00 (Development Agreements) of the St. Lucie County Land Development Code
(LDC).
B. Developer is the owner of certain real property (Property) located in St. Lucie
County, Florida, as more particularly described in the attached Exhibit "A".
C. The County has determined that improvements to the intersection of Kings
Highway and Angle Road are needed in order to maintain concurrency management
requirements for the industrial park projects proposed on the Property by the Developer,
and that the cost of such improvements is in the vicinity of $10,000,000.00, which
amount is excessive in relation to the size and cost of the development proposed on the
Property .
D. The County has determined that improvements to the intersection of Kings
Highway and Angle Road cannot be funded by the public at the present time, and that
any funding that can be obtained to expedite the design and construction of intersection
improvements would provide a benefit to the public health, safety, and welfare.
E. The County has determined that a proportionate share of costs study, intersection
design, and permitting would expedite the funding and construction of improvements to
the intersection of Kings Highway and Angle Road, and that funding of these items is
sufficient mitigation potentially representing a fair share of the costs of improvements
that should be borne by the Developer for the industrial parks proposed on the Property.
F. In order to foster comprehensive and sound capital facilities planning and
financing, to ensure the provision of adequate public facilities for development
concurrent with the impacts of development, and to afford certainty in the approval of
development, the Board and Developer desire to establish by agreement the terms under
which the Property may be developed.
G. On September 19, 2006 the Board held the first public hearing on this
Agreement, after publishing notice approximately seven days prior to the first hearing.
Notice of intent to consider this Agreement was mailed by the Board at least 15 days
prior to the first hearing to all property owners, as reflected on the current years tax roll,
lying within 500 feet of the Property.
H. On October 3, 2006, the Board continued the second public hearing on this
Agreement until October 17, 2006, after publishing notice approximately seven days
prior to the second public hearing and after announcing at the first public hearing the day,
time, and place of such public hearing.
NOW, THEREFORE, in consideration of the mutual covenants entered between the
parties, and inconsideration of the benefits to accrue to each, it is agreed as follows:
1. Recitals.
The above recitals are true and correct.
2. Mandatory Provisions.
a. Legal Description and Owner.
The land that is the subject of this Agreement is described in the attached Exhibit
"A". Exhibit "A" contains legal descriptions for two properties: Regions Center,
and King Leal industrial subdivisions. The owner of legal and equitable title to
the Properties is INCOM PROPERTIES 31, INC., a Florida Corporation.
b. Duration.
This Agreement shall expire ten (10) years after the effective date provided in
Section 16, unless earlier terminated as provided in Sections 9 and 10.
c. Uses, Densities, Intensities, Height, and Architectural Standards
The development uses permitted on the Property, including densities, intensities,
and height, shall be as follows:
Uses Allowed: Uses consistent with the prOVlSlOns of Section
3.01.02(T) of the St. Lucie County Land Development
Code.
Density Allowed: Not Applicable to nonresidential development.
Intensity Allowed: Regions Center - 32 lot industrial subdivision on 30.07
acres (m.oJ.)
King Leal Industrial Center - 11 lot industrial
subdivision on 34.33 acres (m.oJ.)
Maximum Permitted Height
of Buildings and Structures: 65 feet, all projects
Architectural Standards: Such architectural standards as may be imposed
by the Board of County Commissioners on future Planned Developments and
conditional uses permitted within the two projects shall be followed. No
Page 2 of 17
other architectural standards apply on the effective date of this Agreement.
However, should the County create future architectural standards that apply
to development of any lot or lots within the Property, buildings and structures
constructed after the effective date of those architectural standards shall
comply with the adopted County architectural standards in effect at the time
of site plan approval.
d. Future Land Use Map Designation.
The land use designation of the Property under the future land use element of
the adopted St. Lucie County Comprehensive Plan is IND, Industrial for both
projects.
e. Zoning.
The current zoning of the Property is IL, Industrial Light for both projects.
f. Site Plan.
On March 15, 2006 for King Leal Industrial Center, April 20, 2006 for
Regions Center, the Developer submitted final site plan review applications
for the projects, and on October 17, 2006, obtained Board approval of the
final site plans for the Property consistent with the provisions of Section 2c
herein.
g. Public Facility Adequacy.
Final Plat approval for King Leal Industrial Center and Regions Center are
contingent upon completion or funding of the improvements identified in
Exhibit "C".
h. Local Development Permits.
The local development permits required for the development of the Property
are:
(1) Regulatory Permits - surface water management permits(s) from the
South Florida Water Management District; Driveway permit(s) from
the Florida Department of Transportation and St. Lucie County. The
need for other regulatory agency permits shall be determined based
upon final site construction plans.
(2) Subdivision plat approval and recording - will be required prior to the
conveyance of any lots or properties.
(3) Final development order - required prior to commencing site
construction.
(4) Site plan approval- required prior to commencing site construction.
(5) Approval of constructible site engineering plans - required prior to
commencing site construction.
(6) Tree removal permit - required prior to commencing site construction.
(7) Building permit - required prior to commencing building construction.
Page 3 of 17
1. Responsibility for Local Development Permits.
All local development permits shall be obtained at the sole cost of the
Developer and in the event subdivision plat approval and/or a building permit
is/are not received, no further development of the Property shall be allowed
until such time as the Board has reviewed the matter and determined whether
or not to terminate this Agreement or to modify it in a manner consistent
with the St. Lucie County Comprehensive Plan.
J. Consistency with Comprehensive Plan.
The Board finds that the development of the Property as provided in this
Agreement is consistent with the St. Lucie County Comprehensive Plan.
k. Consistency with the Land Development Code (LDC).
Provided that the Developer submits and obtains Board approval of a site
plan in accordance with Section 2c of this Agreement that complies with the
County's Land Development Code ("LDC"), the Board finds that the
development of the Property as provided in this Agreement is consistent with
the LDC.
1. Compliance with Other Law.
Failure of this Agreement to address a particular permit, condition, term, or
restriction shall not relieve the Developer of the necessity of complying with
the law governing such permitting requirement, condition, term, or
restriction; and any matter or thing required to be done under existing
ordinances of St. Lucie County shall not be otherwise amended, modified, or
waived unless such amendment, modification or waiver is expressly provided
for in this Agreement with specific reference to the code provision so
amended, modified, or waived.
m. Necessary Conditions.
The Board reserves the right to impose conditions and requirements on any
future development order as necessary to protect the health, safety, and
welfare of the public and the citizens of St. Lucie County.
3. A2reement to Fund and/or Construct Improvements. Subject to the approval of the
County, and consistent with Exhibit "C", the Developer agrees to fund the design and
permitting, right-of-way acquisition and construction of the improvements identified in
Exhibit "c" prior to recording a final plat for either subdivision. The Developer shall not
be responsible for costs in excess of the current estimate of $850,000.00. The Developer
shall deliver to the County funds in this amount, in cash or in a cash equivalent form
acceptable to the County Attorney.
4. Road Impact Fee. Until such time as the Road Impact Fees shall be amended based
on the September 2005 recommendation from the County's consultant, James Nicholas,
Page 4 of 17
Ph. D., which amendments are currently being processed by the County, the Developer
agrees to pay the road impact fee at the current rate provided for by the Land
Development Code. Should the County's Road Impact Fees be amended prior to the
payment of said fees by the Developer, the Developer agrees to pay Road Impact Fees at
the amended rate. The Developer also agrees to pay mitigation fees for the project
impacts in exchange for permitting the project to obtain development approval before
road concurrency requirements are met. Mitigation fees paid by the Developer, in
concert with other funding, is expected to provide partial funding for improvements that
will cause roads impacted by development of the Property to operate at capacity within
ten (10) years from the date of this Agreement, or to provide alternative improvements to
mitigate project impacts in the event sufficient funds to pay for the improvements
necessary to achieve the desired level of service cannot be obtained within the expected
ten year period.
5. Traffic Impact and Miti!!ation Fees. In order to permit development of the Property,
the Developer agrees to pay the following fees as Traffic Impact fees and additional
mitigation of road impacts:
a. Traffic Impact and additional mitigation fees. The developer agrees to pay a
total fee higher than the amount required by the Land Development Code. The total
fee amount is equal to $578/1,000 sq. ft. of industrial building gross floor area. This
amount is equal to the new impact fee rate recommended by James C. Nicholas, Ph.
D. in September 2005, and currently being processed for approval by the County.
This fee is comprised of the mitigation fee of $105/1,000 sq. ft. of proposed gross
building floor area and the amount of presently required road impact fees, $473/1,000
sq. ft. The total agreed upon contribution toward road impact fees, including both the
basic impact fee and the additional road impact mitigation fee is $371,654, as
calculated below.
This fee is based upon the most recent estimates of square footage of building area
provided by the developer. The estimated development intensity is 400,000 square
feet for Regions Center and 243,000 square feet for King Leal Industrial Park. The
total of 643,000 square feet divided by 1,000 yields 643 thousands of square feet.
643 multiplied by $578 equals $371,654 which includes the impact fee plus
mitigation amount noted herein. Should the total gross floor area of buildings
permitted within the combined subdivisions exceed 643,000 square feet, an
additional road impact fee at the then-applicable road impact fee rate shall be paid to
the County based upon the calculations required by the impact fee ordinance or
resolution then in effect. Should build-out of the two subdivisions total less than the
643,000 square feet of gross floor area herein permitted, no refund of impact fees
shall be due from the County, and the Developer agrees not to pursue a refund of
impact fees.
b. Developer contributions toward road improvements in addition to impact
fees and impact fee mitigation. In addition to the above fees, the Developer agrees to
pay mitigation fees as set forth in Exhibit "C".
6. Municipal Services Benefit Unit (MSBU) - Municipal Services Taxin!! Unit (MSTU)
The owner/developer specifically agrees to consent to establish an MSBU or MSTU on
each of the individual properties subject to this agreement if the County deems that an
MSBU or MSTU is an appropriate funding mechanism for the required improvements.
Page S of 17
Further, the owner/developer agrees not to oppose any future MSBU or MSTU that may
be approved for funding the referenced improvements. Amounts paid for traffic impact
fees and traffic impact mitigation pursuant to paragraph 5 above shall be credited toward
any MSBU or MSTU that may be established.
7. Road Impact Fee Credits. In consideration for benefits received pursuant to the
agreement, the Developer hereby waives any rights to road impact fee credits available to
it, its successors, or assigns by way of the provisions in the adopted St. Lucie County
Comprehensive Plan and Land Development Code, and agrees to pursue no legal action
to obtain said impact fee credits.
8. Road RÎl:!ht-of-Wav Dedication. At Final Plat approval and prior to recording for King
Leal and Regions Center Industrial Subdivisions and prior to issuance of a building
permit for Kings Center Commerce Park, the Developer agrees to dedicate and convey to
the Board land for right-of-way purposes as shown on Exhibit "B". The conveyance
shall be by general warranty deed in recordable form and shall be free and clear of all
liens and encumbrances. At least fifteen (15) days prior to the conveyance, the
Developer, at the Developer's expense, shall deliver the following to the Board:
a. Commitment for title insurance showing that the Owner has marketable title to
the right-of-way parcel. Within forty-five (45) days after the closing, the
Developer shall deliver a title policy to the County consistent with the
commitment naming the County as the insured.
b. Sealed survey certified to the Board showing no encroachments.
c. Phase I Environmental Audit certified to the Board showing no evidence of
hazardous waste contamination on the right-of-way parcel.
d. Beneficial Interest Affidavit, if required.
10. Payment of Impact and Mitieation Fees.
No building permit, for permanent buildings, shall be issued for the individual lots, and
no final plat for either project shall be approved for recording in the Public Records of
Saint Lucie County .1-Florida, unless and until any and all impact fees required under then
applicable ordinances and mitigation fees required herein by this Agreement have been
paid by the Developer or its successors or assigns. Temporary buildings for construction
and sign permits may be issued ahead of these payments.
11. AdeQuacv of Public Facilities~ Continued Reservation of Capacity.
The following items in regard to the adequacy of public facilities 10 this area are
acknowledged:
a. Drainage: The properties are not located within an identified IOO-year flood
zone. All construction activities will be in accordance with the applicable St.
Lucie County and South Florida Water Management District permitting
standards and regulations.
Page 6 of 17
b. Potable Water: The projects are required to extend or connect to the Fort Pierce
Utilities Authority potable water system.
c. Sanitary Sewer: The projects are required to extend or connect to the Fort Pierce
Utilities Authority sanitary sewer system.
d. Solid Waste: Sufficient capacity exists in the St. Lucie County Landfill to service
the anticipated demands of the proposed development of the Properties.
e. Parks: Not applicable to industrial projects.
f. Mass Transit: Not applicable to these projects and Properties.
g. Roads: Subject to completion of the obligations identified on Exhibit "COO and the
payment of impact fees and mitigation fees herein required, the County is
pursuing a program of improvements funded from developers, the Florida
Department of Transportation, and the County that is designed to ensure that
sufficient roadway capacity will exist within ten years to support the proposed
development of the Property. Said program of improvements is long term, and
there is some risk that in spite of the best efforts of all parties sufficient capacity
may not be available within ten years. In such event, funds collected pursuant to
this Agreement may be diverted to other transportation improvement projects or
programs that will provide additional capacity, operational improvements, mass
transit or other modes of travel alternatives. Such diversion shall have no effect
on the Developers rights or obligations under this agreement.
Based on the signing of this Agreement and its approval by the Board of County
Commissioners, Certificates of Capacity shall be issued for the Projects as a part
of their site plan approvals. Pursuant to these approval resolutions (Resolution
06-169, Regions Center Industrial Park Subdivision, adopted on October 17,
2006, and Resolution 06-168, King Leal Industrial Park Subdivision adopted on
October 17, 2006), said certificates of capacity shall expire if the items identified
in paragraphs 3, 4, and 5 above have not been completed within 180 days of the
effective date of this agreement as defined in paragraph 16 herein. If the
certificate of capacity expires, the Developer shall reapply for a certificate of
capacity after completion of the items identified in paragraphs 3, 4, and 5 above,
and additional contributions beyond the proportionate share in an amount equal
to Road Impact Fees at the latest studied rate shall be due from the
owner/developer to the County as a penalty for non-compliance. Proportionate
share contributions shall only be accepted following expiration of the certificate
of capacity authorized herein for improvements that are impacted by the
development of the Property that are included in the Five-year Capital
Improvements Program in the adopted St. Lucie County Comprehensive Plan at
the time the new certificate of capacity is issued. Mitigation up to the full
amount of the cost of improvements shall be required to address all other impacts
of development of the Property, except for those impacts on the transportation
system that are mitigated completely by improvements shown as funded in the
first three years of the County's adopted Five-year Capital Improvements
program then in effect. Other facilities and services must then meet the level of
service test at the time building permits are issued for the development of the
Page 1 of 17
Property. In this event, no building permit shall be issued until said penalty is
paid.
The developers required financial obligations provided pursuant to items 3, 4,
and 5 above shall be verified by the County and compared to the total amounts
paid pursuant to items 3, 4, and 5 above. If the total amount paid pursuant to
items 3, 4, and 5 above is less than the required financial obligation, the
Developer shall pay the difference prior to recording the plat or issuance of the
first building permit, whichever comes first, for either project. If the total
amount paid pursuant to items 3, 4, and 5 above is greater than the required
financial obligation, the difference shall be returned to the Developer, first
through impact fee credits, and then through payments from impact fees and/or
mitigation collected from other projects within the corridor.
The County anticipates providing additional north/south roadway capacity either
as an expanded Kings Highway or through the provision of an alternate route
parallel to Kings Highway. The County further anticipates that such
improvements shall be funded through developer payments from developers
owning property that benefits from the corridor improvements. The payments
may be through a combination of funding mechanisms including but not limited
to Proportionate Share Contributions, Road Impact Fee payments, Municipal
Services Benefit Units (MSBU), and/or Municipal Services Taxing Units
(MSTU).
12. Amendment or Cancellation bv Mutual Consent.
This Agreement may be amended or cancelled by mutual consent of the parties, and shall
automatically terminate upon the issuance of the last Certificate of Completion for the
principal building or structure on the last remaining lot to be developed. Prior to
amending this Agreement, the Board shall hold two public hearings consistent with the
requirements of Section 11.08.02 of the LDC. No further development permits that
would result in the generation of any additional required Level of Service impacts will be
issued until a new Traffic Impact Analysis is approved and a Certificate of Capacity is
issued for that project. Any application for a new Final Development Order, except for a
modification to an existing building, structure, or site facility that does not require a new
concurrency review, will be subject to all applicable standards and regulations in effect at
the time the application is filed. Any application for Final Development Order, for a
modification to a building, structure, or site facility built or constructed in accord with the
terms of this development agreement shall be subject to any applicable St. Lucie County
construction standard or code in effect at the time the application is filed.
13. Involuntarv Revocation of Development A2reement.
The Board may revoke this Agreement if the Board determines through its annual review
of this Agreement that the terms and conditions of this Agreement, including all
amendments or extensions thereto, have not been complied with. Prior to any revocation
of this Agreement, the Board shall hold two public hearings consistent with the
requirements of Section 11.08.02 of the LDC. At the public hearing(s), the Developer
will be given an opportunity to rebut the determination that the requirements of this
Agreement, or any amendments thereto have not been complied with. If the Board
determines that revocation of this Agreement is not necessary, the Board may amend the
Page 8 of 17
terms of this Agreement to provide for any reasonable condition necessary to assure
compliance with the requirements of this Development Agreement, and any extensions or
amendments thereto. Either party or any aggrieved or adversely affected person may file
an action for injunctive relief in the Circuit Court for St. Lucie County to appeal the
revocation or amendment of this Agreement. The provisions of Paragraph 4 requiring
Board approval of any change in the Site Plan shall survive the revocation of the
Agreement.
14. Term.
Except for the automatic termination provided in paragraph 12 of this agreement, the
term of this Agreement shall be ten (10) years from the effective date. This Agreement
may be extended by mutual consent of the Board and the Developer, subject to public
hearing in accordance with Section 11.08.02 ofthe LDC.
15. Recordin2~ Submission to Florida Department of Community Affairs.
Within 14 days after the Board enters this Agreement, the Clerk to the Board shall record
the Agreement in the Public Records of St. Lucie County. A copy of the recorded
Agreement shall be submitted to the Department of Community Affairs within 14 days
after the Agreement is recorded. If this Agreement is amended, cancelled, modified,
extended, or revoked, the Clerk shall have notice of such action recorded in the public
records and such recorded notice shall be submitted to the Florida Department of
Community Affairs.
16. Effective Date.
This Agreement shall be effective 30 days after its receipt by the Florida Department of
Community Affairs. Notice of the effective date of this Agreement shall be provided by
the Board to all effected parties to the Agreement.
17. Annual Review.
In accordance with Section 11.08.08 of the LDC, the Board shall review the development
that is subject to this Agreement every 12 months, commencing 12 months after the
effective date of this Agreement. The Board shall begin the review process by giving
notice, a minimum of 30 days prior to the anniversary date for the effective date of this
Agreement, to the Developer of its intention to undertake the annual review of this
Agreement and of the necessity for the Developer to provide the following:
a. An identification of any changes in the plan of development as contained in the
Site Plan Materials, or in any phasing for the reporting year and for the next year.
b. If the Site Plan materials provided for phasing, a summary comparison of
development activity proposed and actually conducted for the year.
c. Identification of undeveloped tracts of land that have been sold to a separate
entity or Developer.
d. An assessment of the Developer's compliance with each condition of approval
set forth in this Agreement.
Page 9 of 17
e. Identification of significant local, state and federal permits which have been
obtained or which are pending by agency, type of permit, permit number and
purpose of each.
Any information required of the Developer during an annual review shall be
limited to that necessary to determine the extent to which the Developer is
proceeding in good faith to comply with the terms of this Agreement. For each
annual review conducted during years 6 through 10 of this Agreement, the Board
shall prepare a written report in accordance with rules promulgated by the state
land planning agency. The report shall be submitted to the parties to the
Agreement and the State land planning agency. If the County finds on the basis
of substantial competent evidence that there has been a failure to comply with the
terms of the Agreement, the County may revoke or modify the terms of this
Agreement.
18. Effect of Contrary State or Federal Laws.
In the event that any state or federal law is enacted after the execution of this
Agreement that is applicable to and precludes the parties from complying with
the terms of this Agreement, then this Agreement shall be modified or revoked as
is necessary to comply with the relevant state or federal law. Prior to modifying
or revoking this Agreement, the Board shall hold two public hearings consistent
with the requirements of Section 11.08.02 of the LDC.
19. Enforcement.
Either party, any aggrieved or adversely affected person, or the state land
planning agency, may file an action for injunctive relief in the Circuit Court for
St. Lucie County to enforce the terms of this Agreement or to challenge
compliance of this Agreement with the provisions of the Act or Section 11.08.00
of the LDC. In the event the Board or the Developer is required to seek
enforcement of the provisions of this Agreement, the prevailing party shall be
entitled to recover from the other party all costs of such action, including
reasonable attorney's fees.
21. Headin2s.
The headings contained in this Agreement are for convenience of reference only
and do not limit or otherwise affect in any way the meaning or interpretation of
this Agreement.
22. Pronouns
In this Agreement, the use of any gender will be deemed to include all genders,
and the use of the singular will include the plural, wherever it appears appropriate
from the context.
23. Waivers
Page 100f17
The failure or delay of any party at any time to require performance by another
party of any provision of this Agreement, even if !mow, will not affect the right
of that party to require performance of that provision or to exercise any right,
power or remedy, and any waiver by any Party of any breach of any provision of
this Agreement should not be construed as waiver of any continuing or
succeeding breach of provisions, a waiver of the provision itself, or a waiver of
any right, power or remedy under this Agreement. No notice to or demand on
any party in this case will, of itself, entitle a party to any other or further notice or
demand in similar or other circumstances, unless otherwise specified in the
Agreement.
24. Assi2nment
This Agreement may be assigned by Developer to its legal representatives and
successors-in-interest provided that impact fee credits are limited solely to the
property described in Exhibit A.
25. Bindin2 Effect
This Agreement shall be governed by and construed in accordance with the laws
of the State of Florida, and shall be binding upon and inure to the benefit of the
parties hereto and their respective legal representatives, successors and assigns;
provided, however, Developer shall have no obligations, duties, responsibilities,
or liability under this Agreement if Developer's Project is not approved by
County, or if the Project is approved, the Developer requests the County to
rescind the resolution approving the Project and the County rescinds the
resolution. Such rescission shall not be unreasonably withheld.
26. Counterparts
This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original.
27. Construction
This Agreement shall be construed as the joint and equal work product of the
parties and shall not be construed more or less favorably on account of its
preparation.
28. Entire A2reement
This Agreement constitutes the entire Agreement between the parties relating to
the subject matter hereof and supersedes all prior agreements or understandings
made in connection with the subject matter. The Development Orders,
Development Permits, Certificate of Capacity and conditions thereon pertaining
to the Property are lawful government actions, and shall not be construed as
agreements. No modification or amendment of this Agreement shall be binding
upon the parties unless the same is in writing and signed by the party to be
bound.
Page 11 of 17
29. Notices.
The parties designate the following persons as representatives to be contacted
and to receive all notices regarding this Agreement:
For the Board:
County Administrator
S1. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
with a copy to:
County Attorney
S1. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
For the Developer:
Incom Properties 31, Inc.
5500 Military Trail, 22-313
Jupiter, FL 33458
With a copy to:
Jeffery P. Zane, Registered Agent
Incom Properties 31, Inc.
4800 Riverside Drive, Suite 101
Palm Beach Gardens, Florida 33410
30, Successors and Assi2ns.
This Agreement shall be binding upon the parties and their successors and
assigns. In the event of assignment of this Agreement, the Developer shall
provide notice to:
County Administrator
S1. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
County Attorney
S1. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
IN WITNESS WHEREOF, the parties hereto have caused the execution of this
Agreement by their duly authorized officials as of the day and year first above written.
Signed, sealed and delivered in the
presence of:......-__
----- ~
¿-~--- -~ BY~~~~
o Cï"'t-; (L C I: \ G'" n fl.-. ~'=' ~-"-1
Print Namef l \ ¿ , \ '->'f\J rr:.!. Jl (... Dr . ~ ~.c.-G'"'S ,(/....-..1\ ,
Incom Properties 31, Inc.
a Florida Corporation
Page 12 of 17
Witness
~ J0~ 'r-~~
,J
PrintName:c;.,H,¡1.idLÇ- l-=tu,,-c 1<'-'-(
Witness
BOARD OF COUNTY
COMMISSIONERS
ST. L IE C UNTY, FLORIDA
BY:
STATE OF FLORIDA
COUNTY OF ST. LUCIE
'þ
,
BY:
The foregoing instrument was acknowledged before me this .JOJl.. day of Dc TOt?~
2006, by Ge... f-Ff!-ï:-1 Gr..:::JL.M.o N 1 ' Incom Properties 31, Inc., a Florida Corporation, who is
-X personally known to me, or _ who has produced as identification
and who did! not take an oath.
Notary Seal
~-Ç -;;-=:2
Notary Public, State of Florida
Print Name: P~R. ç ...::;::;uG-.~.A·t. D.J:.
My Commission
-
Expires:
,,'\lI'y~ PETER FRANK INGRALDI
." ~i' MY COMMISSION II DD558953
"~D"~'ll" EXPIRES; May 31. 2010
(407) 398'( 153 Florida NoIary Service,com
Page 13 of 17
EXHIBIT A
INCOM PROPERTIES 31, INC.
DEVELOPMENT AGREEMENT
FOR
KING LEAL INDUSTRIAL PARK SUBDIVISION
AND
REGIONS PARK INDUSTRIAL PARK SUBDIVISION
ST. LUCIE COUNTY, FLORIDA
The Properties as defined in this Agreement are the two proposed industrial park
subdivision sites described as follows:
1. King Leal industrial subdivision site, which is described as follows:
A PARCEL OF LAND LYING IN SECTION 36, TOWNSHIP 34 SOUTH, RANGE 39
EAST, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
THE NW 14 OF THE SOUTHWEST 14 OF SECTION 36, TOWNSHIP 34 SOUTH,
RANGE 39 EAST, LESS THE SOUTH 200' OF THE WEST 250 FEET AS CONTAINED
IN DEED IN OR BOOK 79, PAGE 179, PUBLIC RECORDS OF ST. LUCIE COUNTY,
FLORIDA; AND LESS ALL ROAD AND CANAL RIGHTS OF WAY
PARCEL CONTAINS 34.33 ACRES MORE OR LESS.
2. Regions Park industrial subdivision site, which is described as follows:
LOTS 4, 5, 6, 7, AND 8, LESS THE WEST 70 FEET OF LOT 8, MARTIN SUBDIVISION
OF THE N 1/2 OF THE NW 1/4 OF SECTION 1, TOWNSHIP 35 SOUTH, RANGE 39
EAST, ACCORDING TO THE PLAT THEREOF AS RECORDED IN PLAT BOOK 4,
PAGE 46, OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY FLORIDA.
LESS AND EXCEPT THAT PART OF LOTS 6,7 AND 8, CONVEYED IN DEED
RECORDED IN O.R. BOOK 270, PAGE 1251, OF THE PUBLIC RECORDS OF ST.
LUCIE COUNTY, FLORIDA.
LESS AND EXCEPT THE FOLLOWING DESCRIBED PARCEL OF LAND:
THE EAST 800 FEET OF THE WEST 870 FEET OF THE NORTH 1013.06 FEET OF
THE NORTHWEST QUARTER OF SAID SECTION 1.
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EXHIBIT B
INCOM PROPERTIES 31, INC.
DEVELOPMENT AGREEMENT
FOR
KING LEAL INDUSTRIAL PARK SUBDIVISION
AND
REGIONS PARK INDUSTRIAL PARK SUBDIVISION
ST. LUCIE COUNTY, FLORIDA
The following road right-of-way shall be dedicated to 8t. Lucie County:
For the King Leal site: A strip ofland approximately 990 feet long and 40 feet wide
(approximately .91 acres) along the projects Kings Highway frontage.
For the Regions Center site: A strip ofland approximately 795 feet long and 64 feet wide
(approximately 1.67 acres) along the projects Angle Road frontage.
Also for the Regions Center site: A strip of land approximately 795 feet long and 60 feet
wide (approximately 1.1 acres) along the proj ects south property line.
No right-of-way is required along the Regions Center Kings Highway frontage because
the right of way for widening Kings Highway will come from the west side in this
segment.
Page IS of 17
EXHIBIT C
INCOM PROPERTIES 31, INC.
DEVELOPMENT AGREEMENT
FOR
KING LEAL INDUSTRIAL PARK SUBDIVISION
AND
REGIONS PARK INDUSTRIAL PARK SUBDIVISION
ST. LUCIE COUNTY, FLORIDA
1) The Developer shall provide funds in the amount of $1,500,000 to the county
to fund the design, permitting, and estimation of costs, right-of-way acquisition and
construction of the ultimate intersection improvements at Kings Highway and Angle
Road. The $1,500,000 includes, andis not in addition to, the $371,654 in impact fees and
impact fee mitigation required in this Agreement at paragraph 5, Traffic Impact and
Mitigation Fees. The $1,500,000 also includes and is not in addition to the future impacts
study referenced in paragraph 2 of this exhibit. The improvements to be designed and
permitted will include reconstruction of the existing two-lane roadways approaching the
intersection to four-lane divided urban sections in accordance with the PD&E study
undertaken by the Florida Department of Transportation. The limits of the design and
permitting shall be to provide the ultimate four-lane section through the end of the
associated turn lane tapers for the ultimate four-lane turning movement configuration for
each leg of the intersection. The design and permitting shall include the required tapers
from the four-lane design to match existing travel lanes. The project will include the
design of detention ponds and the determination of additional right-of-way needs to
complete the Project.
The design and permitting limits for the Project shall be as follows:
· North Leg: 1200 linear feet
· South Leg: 1200 linear feet
· West Leg: 1200 linear feet
· East Leg: 1200 linear feet
Funding for the design, permitting and estimation of costs described
above shall be provided to the county prior to recording the first plat for either of the
projects described above.
2) The developer shall provide, at his expense, a study intended to quantify the
expected parcel by parcel future impacts in the corridor. This methodology may be used
by the county to establish a funding mechanism for required King's Highway
improvements. The draft methodology shall address the entire length of King's Highway
/Turnpike Feeder Road and shall be consistent with the February 6, 2006 dràft report,
proposed by Incom Properties through their consultant, McMahon & Associates, and
provided to the County for review of the assumptions and methodology. This study shall
be provided to the Directors of Growth Management and Public Works prior to issuance
of the first building permit for either of the projects described above.
3) The developer shall, at his expense, provide a computation of his
proportionate share cost for the improvements required for King's Highway. The
methodology results and amount shall be reviewed and approved by the Directors of
Page 16 of 17
Growth Management and Public Works. The computation shall be based on the cost
estimates for the corridor currently being updated by the Florida Department of
Transportation (FDOT), or such other cost estimate as may be approved by the Director
of Public Works. The computation shall address the entire length of King's
Highway/Turnpike Feeder Road and shall be consistent with the FDOT draft
proportionate share model adopted in Rule 9J-14, F.A.C. This computation shall be
provided to the County prior to issuance of the first building permit for either of the
projects described above.
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