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Home My WebLink About2024-001 - Orange 95CC PH1 LLCMICHELLE R. MILLER, CLERK OF THE CIRCUIT COURT — SAINT LUCIE COUNTY FILE # 5288695 OR BOOK 5095 PAGE 810, Recorded 01/16/2024 12:07:02 PM RIF 2024-001 ROAD IMPACT FEE CREDIT AGREEMENT BETWEEN ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS AND ORANGE 95CC PH1 LLC, IN CONSIDERATION FOR THE DONATION OF CERTAIN RIGHT-OF-WAY FOR THE FUTURE EXTENSION OF LOOP ROAD. THIS AGREEMENT is made and entered into as of this day of flv Y 2024, by and between ST. LUCIE COUNTY, a political subdivision of the State of Florida, hereinafter referred to as "St. Lucie County" and Orange 95CC PH1 LLC, whose address is 3710 Buckeye Street Suite 100, Palm Beach Gardens, FL 33410, hereinafter referred to as ("Orange 95CC"). WITNESSETH WHEREAS, on January 9, 2023, Orange 95CC received a Minor Site Plan approval from St. Lucie County for a project known as Orange 95 Commerce Center AKA Tambone — Phase 1 on the property described below: LEGAL DESCRIPTION: 12 35 39 THAT PART OF SEC MPDAF: FROM NE 1/4 OF SEC, TH 5 89 45 46 W ALG N SEC LI 163.27 FT, TH 5 00 06 24 W 671.56 FT TO POB; TH CONT S 00 06 24 W 183.10 FT, TH S 08 47 51 E 607.30 FT, TH S 00 06 24 W 199.04 FT TO N RD R/W LI OF LOOP RD, TH N 85 1117 W ALG R/W LI 594.37 FT, TH S 89 43 15 W 288.90 FT TO CURVE CONC SE, R OF 377.30 FT, TH SWLY ALG ARC 590.03 FT,TH N 00 04 21 E 1305.20 FT, TH N 89 44 22 E 1162.81 FT TO POB (26.842 AC-1,169,234 SF) Parcel ID 2312-112-0000-000-8 and, WHEREAS, PDS Order 2023-01, required Orange 95CC to convey to St. Lucie County right-of-way along the western boundary of their property for the future extension of Loop Road, as further described in the attached Exhibit A. (the "Dedication"), and, WHEREAS, on August 15, 2023, Orange 95CC dedicated to St. Lucie County, 1.17 acres of road right -of way for the future expansion of Loop Road via Warranty Deed in Official Record Book 5078, Page 1400. 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 Page 1 OR BOOK 5095 PAGE 811 Plan or in the County Transportation Planning Organization Long Range Transportation Plan, or appropriate to the implementation thereof; and, WHEREAS, The Loop Road extension 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 Loop Road extension 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: Appraised Value of the Right -of -Way Appraisal Title Sketch & Legal Phase 1 Environmental Assessment $ 191,000.0C $ 3,000.00 $ 2,855.00 $ 1,328.25 $ 3,323.25 Total Value $ 201,506.50 WHEREAS, Orange 95CC is desirous of establishing the general method and amount of Credit that Orange 95CC 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 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 Orange 95CC 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). Page 2 OR BOOK 5095 PAGE 812 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. Section 2. Amount of Impact Fee Credit. Orange 95CC is entitled to a credit against St. Lucie County Roads Impact Fees in the amount of Two Hundred, One Thousand Five Hundred Six and 50/100 ($201,506.50), underthe 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 the Loop Road extension. Section 3. 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: 12 35 39 THAT PART OF SEC MPDAF: FROM NE 1/4 OF SEC, TH S 89 45 46 W ALG N SEC LI 163.27 FT, TH S 00 06 24 W 671.56 FT TO POB; TH CONT S 00 06 24 W 183.10 FT, TH S 08 47 51 E 607.30 FT, TH S 00 05 24 W 199.04 FT TO N RD R/W LI OF LOOP RD, TH N 85 1117 W ALG R/W LI 594.37 FT, TH S 89 43 15 W 288.90 FT TO CURVE CONC SE, R OF 377.30 FT, TH SWLY ALG ARC 590.03 FT,TH N 00 04 21 E 1305.20 FT, TH N 89 44 22 E 1162.81 FTTO POB (26.842 AC - 1,169,234 SF) Parcel ID 2312-112-O000-coo-8 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 Orange 95CC receives any amount of Credits is hereinafter referred to as a "Credits Receipt Date". Page 3 OR BOOK 5095 PAGE 813 b. When Orange 95CC 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 the Orange 95CC prior to the rate decrease. Section 4. 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 impactfee 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, Orange 95CC 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. Orange 95CC 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. Orange 95CC shall reserve sufficient Road Impact Fee Credits to support development within the Property. County Administrator 2300 Virginia Avenue Fort Pierce, Florida 34982 Section S. Recordability of Agreement. Withcopyto: 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 Orange 95CC 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. Page 4 OR BOOK 5095 PAGE 814 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: Page 5 ST. LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS By. OALA-��2` 0 Chair APPROVED AS TO FORM AND CORRECTNESS z - County Attor ey OR BOOK 5095 PAGE 815 C� Witness Print Name yi/Og roeyVe- [ors c.J-Peer Address Witness t"O'dor". Print Name Orange 95CC PHI, LLC 5��7 ::r� By: anager o Orange 95CC PHI, LLC T'9 irouhinx CIL'6 pf> TQ��esi� f[, 33kiS9 Address STATE OF F)Orlc{& COUNTY OF 8 The foregoing instrument was acknowledged before me by means of P0 physical presence or [ ] online notarization, this $ , 9!!�fAte),by 12i(' na_Manager of Orange 95CC PHI, LLC, a Florida Corporation, on behalf of the corporation.jWshe istonally known had produced as identification. 1�►VA�`'•• KELLYM. COBLE ®y Notary Public • State o! Florida `,.•' Commission # HH 30t97 .,af<Vjj So My Comm. Expires SeP 1 T, 2024 Bonded through National Notary Assn. �l [Notary Sea Notary Signature KN. L! - Cob l-e. me Printed Page 6