HomeMy WebLinkAboutDVA-07-001 Incom Properties 31, Inc., King's Center
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DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
This Agreement is made and entered into this 20th day of March, 2007, by and between
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" (Property).
C. The County has determined that improvements to the intersection of Kings Highway and
Orange A venue are needed in order to maintain concurrency management requirements
for the warehouse industrial development proposed on the Property by the Developer,
and that the cost of such improvements is in the vicinity of $5,350,000, 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
Orange A venue 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 Orange A venue, and partial funding of these items are
sufficient mitigation potentially representing a fair share of the costs of improvements
that should be borne by the Developer for the warehouse industrial development
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 March 6, 2007. 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.
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
H. On March 20, 2007, the Board held the second public hearing on this Agreement, after
publishing notice approximately seven days prior to the second public hearing and after
announcing at the fITst 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. Lellal Descriotion and Owner.
The land that is the subject of this Agreement is described in the attached
Exhibit "A".
The owner of legal and equitable title to the Property is INCOM
PROPERTIES 31, INC., a Florida Corporation.
The Legal Description is as follows:
Section 2, Township 35 South, Range 39 East, North Y2 of the Northeast 1,4 of
the Southeast~, Less East 39 feet for road and canal rights-of-way as
recorded in Official Records Book 222, Page 1569, of the Public Records of
St. Lucie County, Florida.
b. Duration.
This Agreement shall expire ten (10) years after the effective date provided
in Section 13, unless earlier terminated as provided in Sections 9 and 10.
c. Uses. Densities. Intensities. Hei¡;ht. 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: Five buildings consisting of 220,596 square feet which
includes a 13,000 square feet Mezzanine
Maximum Building Height 35 feet, Located on 20.42
acres
Page 2 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
Maximum Permitted Height of Buildings and Structures:
50 Feet
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 project shall be followed. No 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 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 Industrial.
e. Zoning.
The current zoning of the Property is IL, Industrial Light for the project
f. Site Plan.
On March 20, 2007 the Developer submitted and obtained Board approval of
a major site plan for the Property consistent with the provisions of Section 2c
herein.
g. Public Facility Adeauacy.
In order to permit Development of the Property the Developer agrees to pay
fees as follows related to the impacts of the project on the intersection of
King's Highway and Orange Avenue.
The Proportionate Share payment/credit for Kings Center is calculated as
follows:
The cumulative number of trips from the proposed development expected to
reach roadways during peak hours from the complete build out of a stage or
phase being approved, divided by the change in the peak hour maximum
service volume (MSV) of roadways resulting from construction of an
improvement necessary to maintain the adopted LOS, multiplied by the
construction cost, at the time of developer payment, of the improvement
necessary to maintain the adopted LOS.
Page 3 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
At present S1. Lucie County has approved the commencement of design for
the intersection expansion of Kings Highway and Orange Avenue. The
design is expected to be completed in the next 18 months with construction
in 20 II, as stated in the Five-year Capital Improvement Plan of the
Comprehensive Plan. The King's Center development impact to this
intersection in its present configuration represents approximate 7 percent of
the gross minimum LOS standard. The cost of the improvements submitted
by 81. Lucie County Engineering and verified by FOOT cost standards is
estimated at $S.4 million dollars, for design and construction. Kings Center
fair shares for these improvements would be 7 percent of $S.4 million dollars
or $378.000.00.
Credit for the dedication of the non-site related right-of-way shall be valued
on the date of the dedication at 120 percent of the most recent assessed value
by the County property appraiser (Chapter S, 0, 6 of the LDC). Incom
Properties 31, Inc. shall dedicate a 3.079 acres (134,147 sq. ft) strip ofland to
County for right-of-way use. The most recent assessed value for this property
is $1.84 a square foot or $246,830 multiplied by 120 percent equaling a
credit of $296,197. This amount, $296,197, is subtracted from King's Center
fair share amount or $378,000 leaving King's Center, Incom Properties 31,
Inc. a balance due to S1. Lucie County of$81,803.
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. The need for other
regulatory agency permits shall be determined based upon final site
construction plans.
(2) Final development order - required prior to commencing construction.
(3) Site plan approval- required prior to commencing construction.
(4) Approval of constructible site engineering plans - required prior to
commencing construction.
(S) Tree removal permit - required prior to commencing construction.
(6) Building permit - required prior to commencing construction.
(7) NPDES Permit from the Florida Department of Environmental
Protection.
i. Responsibility for Local Development Permits.
All local development permits shall be obtained at the sole cost of the
Developer and in the event the site is not developed in accordance with the
site plan as provided in Section 2c of this agreement and/or a building permit
is/are not received, no other alternate development of the Property shall be
alJowed until such time as the Board has reviewed the matter and determined
Page 4 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
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.
I. Com{>liance 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
development order as necessary to protect the health, safety, and welfare of
the public and the citizens ofSt. Lucie County.
3. Road ImDaet Fee and ¡mDaet Fee Credits.
Impact fee credits for the contribution of right of way to apply to Kings Center Major Site
Plan. Kings Center will receive a credit in the amount of $296,197 for right-of way
dedication as described in Exhibit "B", Pursuant to state law, impact fees to be used in
impact fee district where improvements are required of the developer are imbedded in the
total cost of any required mitigation. Therefore, impact fee credits are applied against the
total cost of mitigation, and not against the cost of mitigation plus impact fees.
4. Site Plan Submittal.
On or before March 20, 2007, the Developer agrees to provide a final site plan (the "Site
Plan") to the Board in accordance with provision 2c of this Agreement showing the
proposed development of the Property that is consistent with the approved major site plan
approval as set out in Resolution No. 07-019. The Developer further agrees that the plan
Page 5 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
for development of the Property as shown on the Site Plan will not be changed unless
approved by the Board in its discretion by action of the Board separate and apart from
any regulatory approvals required for the development of the Property by the Board or
any other regulatory agency.
S. Road Ril!ht-of-Wav Dedication.
Within ninety (90) days from the date of this Agreement, the Developer agrees to
dedicate and convey to the Board a 3.079 acre strip of 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.
1. Phase I Environmental Audit certified to the Board showing no evidence of
hazardous waste contamination on the right-of-way parcel.
11. Beneficial Interest Affidavit, if required.
6. Pavment of Impact and MitÏlzation Fees.
No building permit shall be issued for development of the Property unless and until any
and all impact fees required under the applicable ordinances and mitigation fees required
herein by this Agreement have been paid by the Developer or its successors or assigns
and a warranty deed in recorded form has been delivered as provided in paragraph 5.
7. Adequacy of Public Facilities; Continued Reservation of Capacity.
The following items in regard to the adequacy of public facilities in this area are
acknowledged:
a. *Drainage: The property is not located within an identified 100-year flood zone.
All construction activities must be in accordance with the applicable St. Lucie
County and South Florida Water Management District permitting standards and
regulations.
b. ·Potable Water: The project is required to extend or connect to the potable water
system of Fort Pierce Utility Authority.
c. ·Sanitary Sewer: The project is required to extend or connect to the sanitary
sewer system Fort Pierce Utility Authority.
Page 6 of 20
DV AN 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
d. *Solid Waste: Sufficient capacity exists in the St. Lucie County Landfill to
service the anticipated demands of the proposed development of the Property.
e. *Parks: Not applicable to this project.
f. *Mass Transit; Not applicable to this project and Property.
g. *Roads: Subject to dedication of right-of-way shown in Exhibit "B", and a
Proportionate Share payment for intersection improvements to Kings Highway
and Orange A venue to support the proposed development of the Property and its
impact on this intersection.
Based on the signing of this Agreement and its approval by the Board of County
Commissioners a Certificate of Capacity shall be issued for the Project as a part of, or
subsequent to, the site plan approval. Said Certificate of Capacity shall expire if the items
identified in paragraphs 2, 3, and 4 above have not been completed within 180 days of the
adoption date of King's Center Resolution 07-019. If the Certificate of Capacity expires,
the Developer shall reapply for a Certificate of Capacity after completion of the items
identified in paragraphs 2, 3, and 4 above, and additional contributions beyond the
proportionate share in an amount equal to Road Impact Fees at the latest studied mte shall
be due from the owner/developer to the County as a penalty for non-compliance. In this
event, no building permit shall be issued until the penalty is paid.
If the total amount paid pursuant to items 2 and 3 above is less than the proportionate
share computation, the Developer shall pay the difference prior to issuance of the first
building permit for the project. If the total amount paid pursuant to items 2 and 3 above
is greater than the proportionate share computation, the difference shall be returned to the
Developer, first through impact fee credits, and then through payments from impact fees
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 with the corridor. The payments may be through a
combination of Proportionate Share Contributions, Road Impact Fee payments,
Municipal Services Benefit Units (MSBU), and/or Municipal Services Taxing Units
(MSTU).
8. Amendment or Cancellation bv Mutual Consent.
This Agreement may be amended or cancelled by mutual consent of the parties, and shall
terminate upon the issuance of the last Certificate of Occupancy for last residential
building as shown on the Site Plan. 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 Final
Development Order has been issued. Any application for a new Final Development
Page 7 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
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 S1. Lucie County construction standard or code in effect at the time the
application is filed.
9. Involuntary Revocation of Development Á2reement.
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
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 S1. 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.
10. Im!h
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 of the LDC.
11. Reeordine; Submission to Florida Department of Community AtTain.
Within 14 days after the Board enters this Agreement, the Growth Management Director
to the Board shall record the Agreement in the Public Records of 81. 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 by the Growth Management
Director. If this Agreement is amended, cancelled, modified, extended, or revoked, the
Growth Management Director 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.
Page I of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
12. Effedive 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 Growth Management Director to all effected parties to the Agreement.
13. 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.
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.
14. Effect of Contra" 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
Page 90f20
DV AN 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INe., KING'S CENTER
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.
15. Enforcement.
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 8t. 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 LOC. 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.
16. Headine:s.
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.
17. 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.
18. Waivers
The failure or delay of any party at any time to require performance by another party of
any provision of this Agreement, even if know, 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.
19. Assle:nment
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.
20. Bindiol! 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,
Page lOof20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
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.
21. Counterparts
This Agreement may be executed in one or more counterparts, each of which shall be
deemed an original.
22. 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.
23. Entire Al!reement
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.
24. 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
St. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
with a copy to:
County Attorney
St. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
For the Developer:
Incom Properties 31, Inc.
855 South Kings Highway
Fort Pierce, Fl. 34945
Page 11 of20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
25. Successors and Assil!ns.
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
St. Lucie County
2300 Virginia Avenue
Fort Pierce, Florida 34982-5652
County Attorney
St. 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:
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Incom Properties 31. Inc.
a Florida Co ion
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Page 12 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
STATE OF FLORIDA
COUNTY OF ST. LUCIE
-------~
--...------
<.-C- I
Notary Seal
Notary Public, State of Florida
Print Name:
My Commission
Expires:
#~"~ PETER FRANK INGRALDI
.,,~, MY COMMISSION tI DD5~89~3
~'t0ll\. EXPIRES: May 31. 2010
(407) 398-ll153 Fk>ridll NotaIy Sorvice,com
Page 13 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
Exhibit "A"
The owner of legal and equitable title to the Property is INCOM PROPERTIES 31, INC., a
Florida Corporation.
The Legal Description is as follows:
Section 2, Township 35 South, Range 39 East, North Yz of the Northeast I/. of the
Southeast 'I., Less East 39 feet for road and canal rights-of-way as recorded in Official Records
Book 222, Page 1569, ofthe Public Records of 51. Lucie County, Florida.
Legal Descriptionfor Right-of-Way dedication
See Attached legal Description
Page 14 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
Total Acres Per Acre Sq. Feet Per Sq. Ft.
$1,632,800.00 20,41 $80,000,00 889060 $1.84
ROW Dedication Value Location Kings Highway
TOTALS
I Assessed I Sq Ft Per Sq Ft. Value Acres Per Acre Value 120%
73317.0 $1,84 $134,903.28 1.683 $80,000,00 $134,640.000 120,00% $161,883,94
ROW Dedication Value Location East-West
TOTALS
I Assessed I Sq Fl Per Sq Ft. Value Acres Per Acre Value 120%
60830,0 $1.8-4 $111,927,20 1,396 $80,000.00 $111,680,000 120.00% $134,312.64
ROW Dedication Value TOTALS
TOTALS
I Assessed I Sq Fl Per Sq Ft. Vallie Acres Per Acre Vallie 120%
134147.0 $1.84 $246,830,48 3,079 $80,000.00 $246,320.000 120,00% $296,196.58
'Exhibit "B"
The cumulative number of trips from the proposed development expected to reach
roadways during peak: hours from the complete build out of a stage or phase being
approved, divided by the change in the peak: hour maximum service volume (MSV) of
roadways resulting from construction of an improvement necessary to maintain the
adopted LOS, multiplied by the construction cost, at the time of developer payment, of
the improvement necessary to maintain the adopted LOS (Chapter 5, 0, 3 of the LOR).
At present St. Lucie County has approved the commencement of design for the
intersection expansion of Kings Highway and Orange Avenue. The design is expected to
be completed in the next 18 months with construction in 2011, as stated in the Five-year
Capital Improvement Plan of the Comprehensive Plan. The King's Center development
impact to this intersection in its present configuration represents approximate 7 percent of
the gross minimum LOS standard. The cost of the improvements submitted by St. Lucie
County Engineering and verified by FOOT cost standards is estimated at 5.4 million
dollars, for design and construction. Kings Center fair shares for these improvements
would be 7 percent of 5.4 million or $378.000.00.
Page 15 of 20
DV A# 07-001
DEVELOPMŒNT AGREEMŒNT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
St. Lucie County has accepted right-of-way dedication for the proportionate fair-share
payment, credit for the dedication of the non-site related right-of-way shall be valued on
the date of the dedication at 120 percent of the most recent assessed value by the County
property appraiser (ChapterS, D, 6 of the LDC). Incom Properties 31, Inc. has dedicated a
3.078 acres (134,147sq. ft) strip of land to County for right-of-way use. The most recent
assessed value for this property is $1.84 a square foot or $246,830 multiplied by 120
percent equaling a credit of $296,197. This amount, $296,197, is subtracted from King's
Center fair share amount or $378,000 leaving King's Center, Incom Properties 31, a
balance due to St. Lucie County of $81 ,803.
Page 16 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
LEGAL DESCRIPTION
ßeing 0 parcel of land lying in Section 2, Township 35 South, Range
39 East, 5t, Lucie County. Florido, being more particularly described os
follows:
Commence at the East 1/4 corner of said Section 2; thence
589'ó1'3S"W, olong the 1/4 Section Ihe, 0 distance of 39.00 feet to
the West right-of-way line of the North St. Lucie River Water Control
District Conal No, 32W and the POINT OF BEGINNING of the followi"9
described parcel;
Thence continue S89'51 '35"W, olong soid , /4 Section line,
a distance of 111.47 feet: thence $00'33'48"[ a distance of 515.91
feet to the beginning of a curve concave to the east having 0 radius
of 18,975.0.3 feet; thence southerly along the arc of soid curve a
distance of 144.14 feet through 0 central angle of 00'26'07" to the
South line of the North 1/2 of the NE 1/4 of the SE 1/~ of Section
2; thence N89'51"6"E, olong said South line, 0 distance of 110.69 feet
to said West right-of-way line; thence NOO·.32'35"W. along said West
right-of-way líne, 0 distance of 659.75 feet; thence NOO'33'09"W,
continuing along said West righl-of--woy line. 0 distance of 0.28 feet
to the POINT OF BEGINNING.
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! j DESCRIPllON
i ~T~or-W:;' ACQUISlnON
.:
Containing 1,687 acres, more or less.
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Sh..t 1 01 2
~~~~:':J ~ COÞISlJlT~ ENClNŒRS
I.AHO SUR\ÆYOIlS
1'-' ¡DUm 251.. ¡lJ&:l r
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Tech: c~ ._, ŒIl.lCAll or ~_ _I: 0000...
Page 170f20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
SKETCH TO ACCOMPANY
LEGAL DESCRIPTION
lHlS IS NOT A 5UR'ÆY
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8URlNGS _ t€lItON "RE: o\SSlIIiIfO I>ND
IlELA 1M: TO 'lH[ NOR'll< lJIlE OF stCTlOll ~
, N89'51'16·E >i".....G 0\ SEMING OF NOO'.J2·~'W.
% 110.69' I
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RIGHT-OF-WAY ACQUISITION
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CONSUL lING DlllINEEllS
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LAND WH\of. TORS
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(1n) 4....3617
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SKETCH OF DESCRlPllON
1'h:O~- l06"d~ rw2. w
Ooto: 1-18-2007
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Page 18 of 20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
LEGAL DESCRIPTION
Being a parcel of land lying in Section 2, Township 35 South. Range
39 East, St. Lucie County. Florida, being more particularly described os
follows:
Commence at the East 1/4 corner of said Sed ion 2; thence
S89'51'35"W, along the 1/4 Section line, a distance of 150.48 feet to I
the POINT or BEGINNING of the following described parcel;
Thence continue S89'51, 35"W, along said 1/4 Section line, 0
distance of 1.2.34.75 feet to the West line of the Southeast 1/4 of
the Southeast 1/4 of said Section 2; thence 500'18'14"(, along said
West line, a distance of 87.48 feet to the intersection with a non
tangent curve concave to the north, having a radius of 2,125.00 feet.
the chord of which bears N84'15'42nE; thence easterly olong the orc
of said curve. a distance of 242.09 feet through 0 centrol angle of
06'31'39" to the point of reverse curvature with 0 curve concave to
the south. hovlng 0 radius of 2,000.00 feet; thence easterly along the
arc of said curve 0 distance of .509,JJ feel, tl'1rough 0 central angle
of 08'51'42"; thence N89'51'3S"E a distance of 685,89 feet; thence
NOO'3.3· 4B"W a distance of 40.00 feet to said 1 /4 Section line and
the POINT or BEGINNING,
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Containing 1.40 acres, more or less,
ShMt I 01 2
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Fle:05-,oe.acd-rw,ctW9C:rt-= lXJNSIJll'NC ENClNEIRS
Date: 1-111-2007 "
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lech: I.1.M ClIt1InCAR 0# _IÞ'IDI _'" lIDlII _
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DESCRlPllON
RIGHT-Of-WAY ACQUfSlllON
Page 190f20
DV A# 07-001
DEVELOPMENT AGREEMENT BETWEEN BOARD
OF COUNTY COMMISSIONERS OF ST. LUCIE
COUNTY, FLORIDA, AND INCOM PROPERTIES 31, INC., KING'S CENTER
SKETCH TO ACCOMPANY
LEGAL DESCRIPTION
'THIS IS NOT A 8UIMY
GRAPHIC SCALI
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N89'S1 35 E
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POØ - PQlNT or IItfl1NN1Hlõ
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8f.AIlWCS _ HEJl[OIf ARE ASSUMED AND
II£\....TM: 10 TI4t HQR1lt LINt Of 5£CTIOIl ;/
H"'wtÇ A 8£_0 OF HOO"JZ'~'.,
She.t 2 0' 2
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Sl<ETai OF DESCRlPl10N
RIGHT-OF - w;., ACQUISITION
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Page 20 of 20