HomeMy WebLinkAboutRiverland/Kennedy, LLC - Settlement Agreement Including Impact Fee Credit Agreement - 08 - 1AC08-02-660
FIRST AMENDMENT TO
SETTLEMENT AGREEMENT INCLUDING
IMPACT FEE CREDIT AGREEMENT
THIS FIRST AMENDMENT (the "Amendment") is made and entered into as of the
1 st day of November, 2019, by and between St. Lucie County, Florida, a political subdivision
of the State of Florida (the "County"), and Riverland/Kennedy, LLC, a Florida limited liability
company formerly known as Riverland/Kennedy, LLP (the "Development Entity").
WITNESSETH:
WHEREAS, the County and the Development Entity entered into that certain Settlement
Agreement Including Impact Fee Credit Agreement dated as of February 12, 2008 (the
"Agreement"). Unless otherwise defined herein, all initial capitalized terms used in this
Amendment shall have the same meanings as given to them in the Agreement; and
WHEREAS, the Agreement established Credits for roads impact fees and parks impact
fees; and
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.
and
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 the Development Entity now desire to document how the
Impact Fee Credit Law will be applied to the Credits in connection with the Roads Impact Fee
Rate Increase and any future increases in roads impact fee rates or parks 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 hereto, 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. Incor )oration b� Reference. The above recitals are true and correct and
are made a part of this Amendment by reference.
JOSEPH E. SMITH, CLERK OF THE CIRCUIT COURT
SAINT LUCIE COUNTY
FILE # 4674044 0211312020 08:26:47 AM AGR
OR BOOK 4382 PAGE 607 - 612 Doc Type:
RECORDING: $52.50
s:1ATTYIAGREEMNT\Riverland Kennedy, LLC - IA to Impact Fee Settlement Agreement 1
NOW, THEREFORE, in consideration of the mutual covenants entered into between
the parties hereto, 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 Amendment by reference.
Section 2. Application of Impact Fee Credit Law. 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 or parks 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 2, 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 the Development Entity receives
any amount of Credits is hereinafter referred to as a "Credits Receipt Date".
b. When the Development Entity 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 Development
Entity 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
Development Entity prior to the rate decrease.
By way of example and for illustration purposes, pursuant to the Ordinance, the County
has adjusted the Prior Roads Impact Fee Rate of $5,068 per single family unit, in part, as
follows: (i) the rate for single family units less than 2,400 sf has been decreased to $5,015
per unit, (ii) the rate for single family units from 2,400 sf to 3,499 sf has been increased
to $6,129 per unit, and (iii) the rate for single family units 3,500 sf and greater has been
increased to $6,222 per unit. Based on the Impact Fee Credit Law, effective November 1,
2019, the Existing Credits shall be applied at the decreased rate of $5,015 per unit for
single family units less than 2,400 sf (in lieu of the Prior Roads Impact Fee Rate of
$5,068 per unit) and at the Prior Roads Impact Fee Rate of $5,068 per unit for single
family units 2,400 and greater (in lieu of the increased rate of $6,129 for single family
units from 2,400 sf to 3,499 sf and the increased rate of $6,222 per unit for single family
units 3,500 sf and greater).
d. By way of further example and for illustration purposes, if the Credit Receipt Date for
Future Credits is November 1, 2020: (i) such Future Credits will be applied against the
applicable impact fee rates that are in effect on November 1, 2020, notwithstanding that
the Existing Credits are applied as set forth in subsection (c) above, and (ii) as to such
Future Credits, the Impact Fee Credit Law shall only apply to increases in impact fee
rates which become effective after the Credit Receipt Date.
Section 3. Recordability of Amendment. This Amendment shall be recorded by the
County in the Public Records of St. Lucie County.
2
Section 4. Amendment. The terms and provisions of this Amendment are intended to
and shall supersede any terms and provisions to the contrary contained in the Agreement. Except
as specifically amended by this Amendment, the terms and provisions of the Agreement are
hereby ratified and confirmed and shall remain in full force and effect.
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:
BOARD OF COUNTY
COMMISSIONERS
ST. LUCIE COUNTY, FLORIDA
By:
air y0�0
APPROVED AS TO FORM AND
[Signatures continued on following page]
3
RIVERLAND/KENNEDY II, LLC,
a Florida limited liability company
im
Alan Fant, Vice President
• ST LUCIE COUNTY ROAD IMPACT FEES
EFFECTIVE 10-01-2018
RESIDENTIAL/UNIT
SINGLE FAMILY
MAINLAND
$5,068
N ISLAND
$4,043
FP ISLAND
$4,676
S ISLAND
$4,374
MOBILE HOMEIRV UNIT (PARK ONLY)
$2,536
$2,113
$2,851
$2,675
MULTI-FAMILY-1/2 FLRS
$3,695
$3,512
$4,158
$3,906
MULTI FAMILY -3+FLRS
$1,938
$2,172
$2,172
$2,038
HOTEUMOTEL - PER ROOM
$4,030
$5,671
$4,536
$4,292
BED & BREAKFAST (PER GUEST RM)***
$2,294
$3,425
$2,586
$2,458
OTHER RESIDENTIAL
$5,068
$4,043
$4,676
$4,374
OFFICE & FINANCIAL (PER 1000 SF)
GENERAL OFFICE
$2,907
$981
$761
$867
MEDICAL OFFICE
$4,015
$1,378
$1,037
$1,203
RETAIL (PER 1000 SF)
RETAIL -UNDER 100,000 SF
$5,425
$1,707
$1,966
$1,498
RETAIL-100,000-499,999 SF
$5,614
$1,749
$1,804
$1,553
RETAIL - 500,000 + SF
$6,313
$1,974
$1,759
$1,736
GASOLINE SERVICES
PER PUMP POSITION
$2,970
$932
$1,402
$1,644
INDUSTRIAL PER 1000 SF
WAREHOUSE
$783
$295
$190
$254
TRUCKTERMINAL
$1,586
$587
$366
$524
GENERAL INDUSTRIAL
$863
$317
$216
$276
INSTITUTIONAL PER 1000 SF
SCHOOL-ELEM
$1,987
$729
$244
$631
SCHOOL -MIMI
$1,956
$735
$545
$636
DAY CARE CENTER
$1,745
$657
$497
$574
FRATERNAL ORG
$2,842
$1,051
$804
$919
HOSPITAL
$4,403
$1,644
$537
$1,423
NURSING HOME
$799
$291
$230
$272
LIBRARY
$5,817
$2,111
$1,625
$1,897
RECREATION AS SPECIFIED
PARK-CITY,COUNTY,STATE (PER ACRE) $701 $348 $202 $314
REC FACILITY -ALL TYPES PER 1000SF $977 $419 $262 $362
GOLF COURSE (PER ACRE) $1,576 $587 $441 $506
MOVIE THEATERS (PER SEAT) $133 $56 $48 $48
**REVISED FEES ARE BASED UPON A 1.6% CONSUMER PRICE INDEX (CPI) RATE ADJUSTMENT.
***DOES NOT INCLUDE PRIMARY RESIDENCE. SINGLE FAMILY UNIT MUST BE ASSESSED FOR THE
RESIDENTIAL PORTION OF THE USE.
REVISED 8/31/2018
_ ST LUCIE COUNTY - OTHER IMPACT FEES
4 EFFECTIVE 10-01-2018
•
RESIDENTIAL/UNIT
SINGLEFAMILY
MOBILE HOME/RV UNIT (PARK ONLY
SCHOOL
$6,529
$1,884
PARKS*
$1,643
$1,076
LIBRARY*
$266
$167
PUB BLDG*
$351
$231
FIRE/EMS
$642
$278
LAW ENF*
$236
$148
MULTI -FAMILY -1/2 FLOORS
$3,339
$1,466
$185
$315
$419
$164
MULTI -FAMILY- 3+ FLOORS
$3,339
$1,466
$190
$315
$754
$168
HOTELIMOTEL - PER ROOM
$0
$1,097
$0
$237
$665
$145
BED & BREAKFAST (PER GUEST RM)***
$0
$1,097
$0
$237
$665
$145
OTHER
RESIDENTIAL
$6,529
$1,643
$266
$351
$642
$236
OFFICE
GENERAL OFFICE (PER 1000 SF)
$0
$0
$0
$311
$643
$180
MEDICAL OFFICE (PER 1000 SF)
$0
$0
$0
$582
$643
$329
RETAIL PER 1000 SF
RETAIL - UNDER 100,000 SF
$0
$0
$0
$458
$516
$252
RETAIL-100,000 TO 499,000
$0
RETAIL - 500,000 +
$0
GASOLINE SERVICES
PER PUMP
POSITION
$0
INDUSTRIAL (PER 1000 SF)
WAREHOUSE
$0
$0 $0 $527 $516 $313
$0 $0 $419 $516 $250
$0 $0 $101 $332 $70
$0 $0 $45 $52 $30
TRUCKTERMINAL
$0
$0
$0
$106
$73
$53
GENERAL INDUSTRIAL
$0
$0
$0
$71
$73
$52
INSTITUTIONAL (PER 1000 SF)
SCHOOL-ELEM
$0
$0
$0
$469
$559
$258
SCHOOL - MIDIHI
$0
$0
$0
$467
$559
$183
DAY CARE CENTER
$0
$0
$0
$305
$559
$181
FRATERNAL ORG
$0
$0
$0
$0
$559
$201
HOSPITAL
$0
$0
$0
$373
$559
$201
NURSING HOME
$0
$0
$0
$316
$0/bed
$260
LIBRARY
$0
$0
$0
$475
$559
$300
RECREATION
PARK - CITY/CTY/STATE (PER ACRE)
$0
$0
$0
$144
$531
$63
REC FACILITY (PER 1000 SF) $0 $0 $0 $144 $531 $73
GOLF COURSE (PER ACRE) $0 $0 $0 $284 $531 $137
MOVIE THEATER (PER 1000 SF) $0 $0 $0 $54/seat $531 $41/seat
**REVISED FEES ARE BASED UPON A 1.6% CONSUMER PRICE INDEX (CPI) RATE ADJUSTMENT.
*REVISED FEES ARE ALSO BASED ON THE 2017 ADJUSTMENTS MADE BY THE BOARD FOR LIBRARY, PUBLIC
BLDGS, LAW ENF AND PARKS AND ADDING THE 1.6 % INCREASE TO THOSE ADJUSTMENTS.
***DOES NOT INCLUDE PRIMARY RESIDENCE. SINGLE FAMILY UNIT MUST BE ASSESSED FOR THE
RESIDENTIAL PORTION OF THE USE.
REVISED 08/31/2018