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Home My WebLink About2020-003 - Shinn Rd -Leal Three, LLCRIF 2020-003 ROAD IMPACT FEE CREDIT AGREEMENT BETWEEN ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS AND LEAL THREE, LLC IN CONSIDERATION FOR THE DONATION OF CERTAIN RIGHT- OF-WAY ALONG SHINN ROAD THIS AGREEMENT is made and entered into as of this 20th day of October , 2020, by and between ST. LUCIE COUNTY, a political subdivision of the State of Florida, hereinafter referred to as "St. Lucie County" and LEAL THREE, LLC, a Florida Limited Liability Company, whose address is 4554 North Highway A1A, Hutchinson Island, Florida 34949, hereinafter referred to as "LEAL". WITNESSETH WHEREAS, on August 1, 2019, LEAL received site plan approval from St. Lucie County for property described below: LEGAL DESCRIPTION: THE NORTH Y OF THE NORTHWEST % OF SECTION 30, TOWNSHIP 35 SOUTH, RANGE 39 EAST, LESS AND EXCEPT RIGHTS -OF -WAY OWNED BY THE NORTH ST. LUCIE RIVER WATER CONTROL DISTRICT FOR ITS LATERAL CANALS NUMBERED 54 AND 55 AND FOR THE COUNTY RIGHT-OF-WAY FOR SHINN ROAD, ST. LUCIE COUNTY, FLORIDA. SAID LAND CONTAINS 77.31 ACRES, MORE OR LESS. Parcel ID 2330-111-0002-000-5 and, WHEREAS, PDS Order No. 2019-032 and amended as PDS Order 2020-006,required LEAL convey to St. Lucie County, 5' along Shinn Road, as further described in the attached Exhibit "A" (the "Dedication"), for additional right-of-way needs; and, WHEREAS, on January 28, 2020, LEAL dedicated to St. Lucie County, 5' of road right-of-way on Shinn Road and, WHEREAS, St. Lucie County has adopted a "Road Impact Fee Ordinance" which imposes impact fees relating to the need for future improvements and additions to the County Road System; and, WHEREAS, Section 24-264(c) of the St. Lucie County Code of Ordinances provides for the County Commission to consider the granting of credits for the donation of non -site related right-of-way along those roadways that meet a transportation capital need as identified in the County's Comprehensive Plan or in the County Metropolitan Planning Organization Roads Impact Fee Eligibility Networks; and, WHEREAS, Shinn Road is identified in the St. Lucie County Comprehensive Plan, and; -11 - 0 Im M vOi 001M, a0�c Za„0!n P n mN rn OD 0 9 Vscx orn�r N 0 0 N W -n LO 000 m 0 z c m =i o � c RIF 2020-003 Page 1 WHEREAS, the County's Comprehensive Plan identifies a future need for capacity expansion improvements to be made to Shinn Road in order to accommodate future growth as set forth in the St. Lucie County Comprehensive Plan; and, WHEREAS, based upon the provisions of Section 24-264(c) of the Code of Ordinances of St. Lucie County, the value of the right-of-way donation, including reasonable costs associated with the conveyance of the right-of-way property to the County, that is eligible for consideration of Road Impact Fee Credit is: Assessed value of right-of-way donation = $4,272.22050 x $0.1537121 = $ 656.69 Title, Surveying and Environmental = $3,750.60 Total Land Value $4,407.29 $4,407.29 WHEREAS, LEAL is desirous of establishing the general method and amount of Credit that LEAL shall be entitled to for value and costs associated with the right-of-way donation. WHEREAS, Chapter No. 2019-165, Laws of Florida, which became effective on June 28, 2019, provides in relevant part as follows with respect to impact fee credits (the "Impact Fee Credit Law") and applies to the Credits: If a local government increases its impact fee rates, the holder of any impact fee credits, whether such credits are granted under s. 163.3180, s. 380.06, or otherwise, which were in existence before the increase, is entitled to the full benefit of the intensity or density prepaid by the credit balance as of the date it was first established. This subsection shall operate prospectively and not retrospectively. WHEREAS, the County increased some of its Roads Impact Fee rates effective November 1, 2019 (the "Roads Impact Fee Rate Increase") by virtue of Ordinance No. 19-012, which was adopted by the St. Lucie County Commission on July 2, 2019 (the "Ordinance"); and, WHEREAS, the County and LEAL now desire to document how the Impact Fee Credit Law will be applied to the Credits in connection with any future increases in road impact fee rates (including, without limitation, any annual increases in such rates based on changes in the Consumer Price Index). NOW, THEREFORE, in consideration of the mutual covenants entered into between the parties here to be made and performed, and in consideration of the benefits to accrue to each of the parties, it is agreed as follows: Section 1. Incorporation by Reference. The above recitals are true and correct and are made a part of this Agreement by reference. RIF 2020-003 Page 2 Section 2. Amount of Impact Fee Credit. LEAL is entitled to a credit against St. Lucie County Roads Impact Fees in the amount of Four Thousand Four Hundred Seven and 29/100 ($4,407.29), under the criteria set forth in Section 24-264(c) of the Code of Ordinances of St. Lucie County for the donation of certain right-of-way along Shinn Road. Section 3. Limitation of Credit. The credit established by this agreement is limited solely to the property described below: LEGAL DESCRIPTION: THE NORTH % OF THE NORTHWEST % OF SECTION 30, TOWNSHIP 35 SOUTH, RANGE 39 EAST, LESS AND EXCEPT RIGHTS -OF -WAY OWNED BY THE NORTH ST. LUCIE RIVER WATER CONTROL DISTRICT FOR ITS LATERAL CANALS NUMBERED 54 AND 5S AND FOR THE COUNTY RIGHT-OF-WAY FOR SHINN ROAD, ST. LUCIE COUNTY, FLORIDA. SAID LAND CONTAINS 77.31 ACRES, MORE OR LESS. Parcel ID 2330-111-0002-000-5 The credit granted through this agreement may only be applied against the required Roads Impact Fees to be collected from this site and shall not be transferable as a credit against other impact fees imposed for purposes other than roads. The Impact Fee Credit Law will be applied to the Credits as follows in connection with the Roads Impact Fee Rate Increase and any future increases in Roads Impact Fee Rates (including, without limitation, any annual increases in such rates based on changes in the Consumer Price Index): a. For purposes of this Section, the Credits existing as of the November 1, 2019 effective date of the Roads Impact Fee Rate Increase are hereinafter referred to as the "Existing Credits", and Credits which may be received under the Agreement in the future are hereinafter referred to as "Future Credits". The date that LEAL receives any amount of Credits is hereinafter referred to as a "Credits Receipt Date". b. When LEAL uses Credits: (i) as to any impact fee rates which are increased after the Credits Receipt Date for such Credits, the Credits will be applied against the applicable impact fee rate that was in effect and payable by the LEAL prior to the rate increase, and (ii) as to any impact fee rates which are decreased after the Credits Receipt Date for such Credits, the Credits will be applied against the decreased impact fee rate in lieu of the rate that was in effect and payable by the LEAL prior to the rate decrease. Section 4. Assignability of Credits/Applicability. LEAL may assign all or part of the Credits described in Section 2 above to its successors in title and interest to the property described in Section 3 above. Such assignment shall be by recordable written instrument. RIF 2020-003 Page 3 Pursuant to Chapter 2020-58, Laws of Florida, Impact Fee Credits are assignable and transferable at any time after establishment from one development or parcel to any other that is within the same impact fee zone or that is within an adjoining impact fee zone or impact fee district within St. Lucie County and receives benefits from the improvement or contribution that generated the credits. Before the assignment is effective, a copy of the assignment shall be provided by LEAL to St. Lucie County, at the address set forth below and the original assignment shall be recorded in the Public Records of St. Lucie County: County Administrator 2300 Virginia Avenue Fort Pierce, Florida 34982 Section 5. Recordability of Agreement. With copy to: County Attorney 2300 Virginia Avenue Fort Pierce, Florida 34982 This Agreement shall be recorded by St. Lucie County in the Public Records of St. Lucie County and shall be binding upon LEAL and any successors in interest and title to the property described in Section 3 above. Section 6. Termination of Agreement. This Agreement shall be effective until all of the Road Impact Fee Credits authorized herein have been consumed through the issuance of a building permit, or similar development approval. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. Signed, sealed and delivered in the presence of: ATTEST: Outy Clerk K� '00 ON ip S i Z 10 00"'r1; FLoR%"D' ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS By: Chair APPROVED AS TO FORM AND CORRECTNESS RIF 2020-003 Page 4 Witness: P I t Name: 4 Print Name STATE OF FLORIDA COUNTY OF ST. LUCIE LEAL THREE, LLC, a Florida Limited Liability Company By: .0 Its: The The foregoing instrument was acknowled ed before me by means of V/ physical��p``re��s_�ence or online notarization, this ! day of QG��D�G / 2020, by _ as WP-Lo.. of LEAL THREE, LLC, a Florida Limited Liability Company, on behalf of the Company, who is personally known to me or has produced FL- >OL • as i 'fication. [ Notary Seal ] Signature of Notary Public ;��yr'du'•••, ADRIQNA NUNO ®Notary Public . state of Florida s`` Commission C GG 93+081 Print Name � My Comm. Expires Nov t2. 1023 Bonded through National Notary Assn. RIF 2020-003 Page 5 EXHIBIT A SITE LEGAL DESCRIPTION: THE NORTH % OF THE NORTHWEST Y OF SECTION 30, TOWNSHIP 35 SOUTH, RANGE 39 EAST, LESS AND EXCEPT RIGHTS -OF -WAY OWNED BY THE NORTH ST. LUCIE RIVER WATER CONTROL DISTRICT FOR ITS LATERAL CANALS NUMBERED 54 AND 55 AND FOR THE COUNTY RIGHT-OF-WAY FOR SHINN ROAD, ST. LUCIE COUNTY, FLORIDA. SAID LAND CONTAINS 77.31 ACRES, MORE OR LESS. PARCEL ID NUMBER: 2330-111-0002-000-5 S:\ACQ\WP\Road Impact Fee Credit Agreements\Leal- Shinn Road\RIF Credit Agreement.docx RIF 2020-003 Page 6