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Home My WebLink About2024-004 - LDL of Fort Pierce Peters Road ImprovementsMICHELLE R. MILLER, CLERK OF THE CIRCUIT COURT - SAINT LUCIE COUNTY FILE # 5288722 OR BOOK 5095 PAGE 931, Recorded 01/16/2024 12:28:40 PM RIF 2024-004 ROAD IMPACT FEE CREDIT AGREEMENT BETWEEN ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS AND LDL OF FORT PIERCE, LLC IN CONSIDERATION FOR THE CONSTRUCTION OF CERTAIN ROAD IMPROVEMENTS ALONG PETERS ROAD THIS AGREEMENT is made and entered into as of this Q day of D00i 2024, by and between ST. LUCIE COUNTY, a political subdivision of the State of Florida, hereinafter referred to as "St. Lucie County" and LDL OF FORT PIERCE, LLC, whose address is 6130 Lazy Days Blvd, Seffner, FL 33584, hereinafter referred to as ("LDL of Fort Pierce"). WITNESSETH WHEREAS, on September 20, 2021, LDL of Fort Pierce received Site Plan approval from the City of Fort Pierce for a project known as Project Hurricane, on the property described below: Legal Description: 24 35 39 THAT PART OF W 1/2 OF NW 1/4 OF NE 1/4 LYG WLY OF W R/W I- 95-LESS W 25 FT PETERS ROAD R/W AND LESS E 10 FT OF W 35 FT ADDITIONAL PETERS ROAD R/W IN OR 4907-348 AND LESS N 40.5 FT- (18.41 AC - 801,851 SF) Parcel ID 2324-123-0000-000-9 and, WHEREAS, as part of development review with the City of Fort Pierce, St Lucie County requested that LDL of Fort Pierce construct a portion of Peters Road, on behalf of the County, for future expansion. See Exhibit "A" f 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, the improvement of Peters Road will divert traffic from Kings Highway and Jenkins Road, which are roads identified in the County's Comprehensive Plan or in the needs plan; 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 Transportation Planning Organization Long Range Transportation Plan, or appropriate to the implementation thereof; and, RIF 2024-004 Page 1 OR BOOK 5095 PAGE 932 WHEREAS, the capacity expansion improvements to be made to Peters Road are needed in order to accommodate future growth, as set forth in the St. Lucie County Comprehensive Plan; and, WHEREAS, the County and LDL of Fort Pierce entered into a Road Impact Fee Credit Agreement granting credits against road impact fees to LDL of Fort Pierce for the donation of right-of-way along Peters Road. WHEREAS, based upon the provisions of Section 24-264(c) of the Code of Ordinances of St. Lucie County, the County desires to grant additional credits against road impact fees for the estimated cost to improve a portion of Peters Road. The estimated cost of the improvements that is eligible for consideration of Road Impact Fee Credit is $325,090.34. This amount may be adjusted based on the actual cost of completing the Peters Road improvements. No credits shall be granted until LDL of Fort Pierce completes the Peters Road Improvements and provides the County with documents showing the actual cost of the road improvements in sufficient detail for preaudit and post audit purposes. WHEREAS, LDL of Fort Pierce is desirous of establishing the general method and amount of Credit that LDL of Fort Pierce shall be entitled to for value and costs associated with the road improvements. 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 October 1, 2022 (the "Roads Impact Fee Rate Increase") by virtue of Ordinance No. 22-009, which was adopted by the St. Lucie County Commission on April 19, 2022 (the "Ordinance"); and, WHEREAS, the County and LDL of Fort Pierce 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 2024-004 Page 2 OR BOOK 5095 PAGE 933 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. LDL of Fort Pierce is entitled to a credit against St. Lucie County Roads Impact Fees in the amount of Three Hundred Twenty -Five Thousand Ninety and 34/100 ($325,090.34), under the criteria set forth in Section 24-264(c) of the Code of Ordinances of St. Lucie County for the improvement of certain right-of-way along Peters Road. The amount of this credit may be adjusted based on the actual cost to construct the improvements. Section 3. Contingency. Should the cost to construct this portion of the road exceed the credit amount listed in this agreement, an amended Road Impact Fee Credit Agreement may be issued, not to exceed Three Hundred Seventy - Five Thousand Eight Hundred Fifty -Three and 89/100 ($375,853.89). Section 4. Limitation of Credit. Except as provided in Section 4 below, the credit established by this agreement is limited solely to the property described below: Legal Description: 24 35 39 THAT PART OF W 1/2 OF NW 1/4 OF NE 1/4 LYG WLY OF W R/W 1-95-LESS W 25 FT PETERS ROAD R/W AND LESS E 10 FT OF W 35 FT ADDITIONAL PETERS ROAD R/W IN OR 4907-348 AND LESS N 40.5 FT- (18.41 AC - 801,851 SF) Parcel ID 2324-123-0000-000-9 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 effective date of this agreement 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 LDL of Fort Pierce receives any amount of Credits is hereinafter referred to as a "Credits Receipt Date". RAF 2024-004 Page 3 OR BOOK 5095 PAGE 934 b. When LDL of Fort Pierce uses Credits: (i) as to any impact fee rates which are increased after the Credits Receipt Date for such Credits, the balance of the Existing Credits will be increased by the percent increase of the impact fee rate upon the effective date of 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 LDL of Fort Pierce prior to the rate decrease. Section 5. Transferability and Assignability of Road Impact Fee Credits Pursuant to s. 163.31801(10), Fla. Stat. (2022), Road Impact Fee Credits are assignable and transferable at any time after establishment from one development or parcel to any other located within the same impact fee zone as the Property, as referenced by St. Lucie County Code Section 24-261(a), or that is within an adjoining impact fee zone within St. Lucie County that receives benefits from one or more of the Creditable Improvements specified in Section 2 of this Agreement. If a Road Impact Fee Credit is proposed for use in an adjoining impact fee zone, LDL of Fort Pierce shall provide notice by certified mail to the St. Lucie County Administrator with a copy to the County Attorney to the address shown below no less than ten (10) business days, as documented by courier receipt, prior to execution of an assignment of said Road Impact Fee Credit, and the St. Lucie County Administrator or designee shall confirm in writing within five (5) business days, as documented by courier receipt, following receipt of the notice whether St. Lucie County objects to the use of the Road Impact Fee Credit based on compliance with statutory requirements. If St. Lucie County does not provide a response, the use of the Road Impact Fee Credit in the adjoining impact fee zone shall be deemed acceptable. If St. Lucie County objects, the Parties shall meet in a good faith effort to resolve the objection. LDL of Fort Pierce shall provide documentation to St. Lucie County of any executed assignment of Road Impact Fee Credits to an assignee for transfer and use on a parcel other than the Property. LDL of Fort Pierce shall reserve sufficient Road Impact Fee Credits to support development within the Property. County Administrator 2300 Virginia Avenue Fort Pierce, Florida 34982 Section 6. 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 LDL of Fort Pierce and any successors in interest and title to the property described in Section 4 above. Section 7. 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. RAF 2024-004 Page 4 OR BOOK 5095 PAGE 935 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. Signed, seated and delivered in the presence of: A De uty Clerk J?'� "Oyu N t 0 Witness 9 GA I Witness Address__ `` n��` C' V itness Print Name _�[59 � 2 Q,1Kp ok Witness Address ST. LUCIE COUNTY LDL of Fo e LLC By: Title: 0r2l? STATE OF FLORIDA COUNTY OF'jj'�—�" The foregoing instrument was acknowledged before me by means ofVj physical presence or [ ] online notarization, this (2��k`Z�J (date), by�� i�D{}'GT of LDL of Fort Pierce, LLC, a Florida Corporation, on behalf of the corporation. H she is personally known to me or had produced as identification. IL Dy�"p A [Notary Se �p S. V0,Al2' Notary Sig tur .,,,,�a,�, Name Printed RIF 2023-003 Page 5 OR BOOK 5095 PAGE 936 Exhibit "A" NSLRWCD White Rosd LDL of Fort Pierce, UC, 2324-1Z3-DODD-000-9 a, a Limits of Improvement +t^r, a