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Home My WebLink About2020-004 - BP-OK DEV, LLC (Kingsgate) RIF 2020-004 ROAD IMPACT FEE CREDIT AGREEMENT BETWEEN ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS AND BP-OK DEV, LLC IN CONSIDERATION FOR THE DONATION OF CERTAIN RIGHT- OF-WAY ALONG ORANGE 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 BP-OK DEV, LLC, a Florida Limited Liability Company, whose address is 20411 West 12 Mile Road, Suite 200, Southfield, Michigan 48076, hereinafter referred to as "BP-OK". WITNESSETH WHEREAS, on December 3, 2019, BP-OK received site plan approval from St. Lucie County for the property described below: LEGAL DESCRIPTION: 11 35 39 COMM AT NE COR OF NE 1/4 OF SE 1/4 RUN S 00 13 52 E ALG E LI OF SD SE 1/4 745.89 FT, TH S 89 38 46 W 25 FT TO W R/W LI OF KINGS HWY, TH S 89 38 46 W 41.34 FT TO POB;TH CONT S 89 38 46 W 821.05 FT,TH N 00 13 52 W// TO W R/W LI OF KINGS HWY 709.02 FT TO S R/W LI OF ORANGE AVE; TH N 89 38 40 E 9.20 FT,TH S 81 22 04 E 44.97 FT,TH S 00 21 14 E 67 FT,TH N 89 38 46 E 598.62 FT,TH S 00 13 52 E//TO W R/W KINGS HWY 135 FT,TH N 89 38 46 E 121.81 FT TO CURVE CONC E, R OF 10,685 FT,TH SLY ALG ARC 500.33 FT TO POB(11.409 AC-496,976 SF) (OR 1290- 463; 1942-1564: 3703-1200) JOSEPH E.SMITH,CLERK OF THE CIRCUIT COURT SAINT LUCIE COUNTY FILE# 4791735 12/10/2020 02:08:01 PM DR BOOK 4521 PAGE 29.1 -2986 Doc Type:AGR Parcel ID 2311-411-0004-000-1 RECORDING $52.50 and, WHEREAS, Resolution No. 2019-264, required BP-OK convey to St. Lucie County,0.088 acres along Orange Avenue, as further described in the attached Exhibit "A" (the "Dedication"), for additional right- of-way needs; and, WHEREAS, on October 6, 2020, BP-OK dedicated to St. Lucie County, 0.088 acres along Orange Avenue 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, RIF 2020-004 Page 1 WHEREAS, Orange Avenue is identified in the St. Lucie County Comprehensive Plan, and; WHEREAS, the County's Comprehensive Plan identifies a future need for capacity expansion improvements to be made to Orange Avenue 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 =$66,240.02104 x$0.0880000 =$5,829.12 Title, Surveying and Environmental = $4,813.00 Total Land Value $10,642.12 $10,642.12 WHEREAS, BP-OK is desirous of establishing the general method and amount of Credit that BP- OK 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 BP-OK 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: RIF 2020-004 Page 2 Section 1. Incorporation by Reference. The above recitals are true and correct and are made a part of this Agreement by reference. Section 2. Amount of Impact Fee Credit. BP-OK is entitled to a credit against St. Lucie County Roads Impact Fees in the amount of Ten Thousand Six Hundred Forty-Two and 12/100 ($10,642.12), 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 Orange Avenue. Section 3. Limitation of Credit. The credit established by this agreement is limited solely to the property described below: LEGAL DESCRIPTION: 11 35 39 COMM AT NE COR OF NE 1/4 OF SE 1/4 RUN S 00 13 52 E ALG E LI OF SD SE 1/4 745.89 FT,TH S 89 38 46 W 25 FT TO W R/W LI OF KINGS HWY, TH S 89 38 46 W 41.34 FT TO POB;TH CONT S 89 38 46 W 821.05 FT,TH N 0013 52 W// TO W R/W LI OF KINGS HWY 709.02 FT TO S R/W LI OF ORANGE AVE; TH N 89 38 40 E 9.20 FT,TH S 81 22 04 E 44.97 FT,TH S 00 21 14 E 67 FT,TH N 89 38 46 E 598.62 FT,TH S 0013 52 E//TO W R/W KINGS HWY 135 FT,TH N 89 38 46 E 121.81 FT TO CURVE CONC E, R OF 10,685 FT,TH SLY ALG ARC 500.33 FT TO POB (11.409 AC-496,976 SF)(OR 1290- 463; 1942-1564: 3703-1200) Parcel ID 2311-411-0004-000-1 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 October 20, 2020 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 BP-OK receives any amount of Credits is hereinafter referred to as a "Credits Receipt Date". b. When BP-OK 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 BP-OK 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 RIF 2020-004 Page 3 applied against the decreased impact fee rate in lieu of the rate that was in effect and payable by the BP-OK prior to the rate decrease. Section 4. Assignability of Credits/Applicability. BP-OK 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. 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 BP-OK 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 With copy to: County Attorney 2300 Virginia Avenue 2300 Virginia Avenue Fort Pierce, Florida 34982 Fort Pierce, Florida 34982 Section 5. Recordability of Agreement. This Agreement shall be recorded by St. Lucie County in the Public Records of St. Lucie County and shall be binding upon BP-OK 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: ST. LUCIE COUNTY ATTEST: BOARD OF COUNTY COMMISSIONERS _Q .�. 'S'�s By: /�,L ... _�1ki.J�_I_'J. -,' De uty Clerk • �c; = Ch:it rGc� Y �'• * • 2020-004 cbo toy.note Page 4 • APPROVED AS TO FORM AND CORRECTNESS Co my Attorney e • BP-OK DEV, LLC,a Florida Limited Liability Company Print Name: _✓ a..4_ By. Print Name: o4 S Its: STATE OF h L L �,�✓ COUNTY OF DMA k The foregoing instrument was acknowledged before me by means of V physical presence or online notarization, this I ta- day of L)Lt� , 2020, byTtli1/4tc Gk a'L'&s as V-A l,�u ��r of BP-OK DEV, LLC, a Florida Limited Liability Company, on behalf of the ConYpany, who is personally known to me or has produced as identification. 01 ( Notary Seal j Signature of Notary Public Je nt\, rr Vic, rho D4„pes Print Name '6q [ / /o2 /(9,013 RIF 2020-004 Page 5 EXHIBIT A SITE LEGAL DESCRIPTION: LEGAL DESCRIPTION: 11 35 39 COMM AT NE COR OF NE 1/4 OF SE 1/4 RUN S 00 13 52 E ALG E LI OF SD SE 1/4 745.89 FT, TH S 89 38 46 W 25 FT TO W R/W LI OF KINGS HWY,TH S 89 38 46 W 41.34 FT TO POB; TH CONT S 89 38 46 W 821.05 FT,TH N 00 13 52 W//TO W R/W LI OF KINGS HWY 709.02 FT TO S R/W LI OF ORANGE AVE; TH N 89 38 40 E 9.20 FT,TH S 81 22 04 E 44.97 FT,TH S 00 21 14 E 67 FT, TH N 89 38 46 E 598.62 FT, TH S 00 13 52 E//TO W R/W KINGS HWY 135 FT,TH N 89 38 46 E 121.81 FT TO CURVE CONC E, R OF 10,685 FT,TH SLY ALG ARC 500.33 FT TO POB (11.409 AC-496,976 SF) (OR 1290- 463; 1942-1564: 3703-1200) PARCEL ID NUMBER: 2311-411-0004-000-1 S:\ACQ\WP\Road Impact Fee Credit Agreements\Kingsgate-Orange Avenue\Road Impact Fee Credit Agreement.docx RIF 2020-004 Page 6