HomeMy WebLinkAbout2025-008 - ACR Acquisition C.25-09-083
RIF 2025-008
ROAD IMPACT FEE CREDIT AGREEMENT BETWEEN ST.
LUCIE COUNTY BOARD OF COUNTY COMMISSIONERS
AND ACR ACQUISITION, LLC IN CONSIDERATION FOR THE
CONSTRUCTION OF CERTAIN ROAD IMPROVEMENTS
ALONG BECKER ROAD
This Impact Fee Credit Agreement ("Agreement") is made and entered into this L. day of
Sep}tmblr, 2025, by and between St. Lucie County, Florida, a political subdivision of the
State of Florida(the"County"), and ACR Acquisition, LLC a Delaware limited liability company,
the successor in interest of ACR Properties, LLC (the"Developer.")
RECITALS
WHEREAS, the County previously entered into a Settlement Agreement including
Impact Fee Agreement("Settlement Agreement")dated February 12, 2008,ACR Properties, LLC
("ACR") for certain roadway improvements ("Improvements") constructed or intended to be
constructed in the southwest annexation area of the City of Port St. Lucie in association with the
Wilson Groves Development. The County and ACR entered into a First Amendment to the
Settlement Agreement(the "First Amendment") on July 1, 2025;
WHEREAS, in April 2025,ACR submitted a request for Road Impact Fee Credits related
to two (2) segments of Becker Road, constructed as a two-lane roadway between N/S B and
Range Line Road, generally located and exhibited in Exhibit A herein, with supporting
documentation (the"ACR Request");
WHEREAS, the identified road segments are deemed eligible for Road Impact Fee
Credits from the County in the amount of thirty-one percent(31%)of eligible expenses, pursuant
to the terms of the applicable Settlement Agreement;
WHEREAS, bond premiums are not identified as eligible expenditures toward
roadway infrastructure under the applicable standards, and such costs have therefore been
removed from the credit calculation;
WHEREAS, County staff have reviewed the submitted documentation provided by
within the ACR Request and eliminated ineligible roadway construction costs for items not
meeting the requirements of the County's Code of Ordinances Section 24-264, Credits; and
MICHELLE R.MILLER.CLERK OF THE CIRCUIT COURT
SAINT LUCIE COUNTY
FILE# 5534210 10/01/2025 12:07:11 PM
OR BOOK 5374 PAGE 2478-2485 Doc Type:AGR
RECORDING: $69.50
WHEREAS, the resultant eligible roadway construction costs total$16,500,865.12, of
which thirty-one percent (31%)—or $5,115,268.19—is deemed eligible for Road Impact Fee
Credits from the County pursuant to the applicable Settlement Agreement.
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.
For purposes of this definition, 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 the Developer receives any amount of Credits is
hereinafter referred to as a"Credits Receipt Date".
When the Developer uses Existing 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 Developer prior to the rate decrease.
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:
Purpose
This Agreement authorizes and formalizes the allocation of Road Impact Fee Credits to Akel
Homes for eligible improvements to Becker Road, consistent with the 2008 Settlement Agreement
and applicable County ordinances.
Section 1. Credit Amount and Eligibility
The County agrees to award the Developer Road Impact Fee Credits of$5,115,268.19,which is in
an amount equal to 31% of eligible, verified expenses incurred in the construction of the subject
Becker Road segments, as generally located and exhibited in Exhibit A herein.
The credit allocations correspond with the documentation provided by the Developer to support
eligible costs, which were subject to County review and approval, with the amounts highlighted in
Exhibit B, herein. The St. Lucie County Road Impact Fee Rates active on the date of this
agreement, pursuant to Chapter No. 2019-165, Laws of Florida, are attached as Exhibit C herein.
Section 2. Limitation of Credit.
Except as provided in Section 3 below, the credit established by this agreement is limited solely to
the property described below:
Legal Description:
The Plat known as Becker Road at Wilson Groves, as corded in Plat Book 121, Pages 7-13, of
the Official Records of St. Lucie County, Florida.
The Alan Wilson Grove Plat, as recorded in Plat BK 12, PG 50, being described as:
All of Section 29; the West 1/2 of Section 30, excepting therefrom the West 75 feet thereof; the
West 1/2 of Section 31, excepting there from the West 75 feet thereof, and the Right of Way of
Central and Southern Florida flood control district Canal 23. All of Section 32 excepting
therefrom the Right of Way for Central and Southern Florida flood control district Canal. All
located in township 37S range 39 E St. Lucie County Florida.
Together with Parcel ID: 4331-100-0001-000-3, described in Public Records as:
Section 31 Township 37 Range 39, E 1/2-less to C and SFWCD R/W for Canal C-23 and less
E 200 ft and less as it or 2972-774 for RD R/W and less OR 4704-661-(253.42 AC- 11,039,181
SF)
As stated in Section 4, below, with allocation of the credits for the described and exhibited
segment(s) of Becker Road contained in this agreement is no longer eligible for"future credits"
claimed by other parties. However, nothing herein shall preclude Credit eligibility for future
phases, expansions, or widening of Becker Road or for any other creditable improvements not
expressly included within the scope of this Agreement.
Section 3. Credit Assignment
Credits may be assigned, in whole or in part, to another entity or project within the applicable road
impact fee benefit district, subject to prior written approval by the County.
The Developer must submit a written request for assignment, including the assignee's name,
location, and intended use of credits.
The County reserves the right to deny assignment if it determines whether the request is
inconsistent with the intent of this Agreement or applicable ordinances.
The RIFCA agreement remains in effect until all credits are fully utilized, at which point it terminates.
Section 4. Documentation and Verification
The Developer provided supporting documentation necessary to substantiate eligible costs for
credit consideration, including invoices, contracts, and payment records for review by Staff in
formulating this agreement, improvements as described in Exhibit B of the settlement agreement.
With allocation of the credits contained in this agreement, these road segments are no longer
eligible for"future credits" under Section 2 of the settlement agreement(as referenced in Exhibit B
of the settlement agreement).
Section 5. Transferability and Assignability of Road Impact Fee Credits
Pursuant to s. 163.31801(10), Fla. Stat. (2025), 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, the
Developer 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. the Developer 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. The Developer shall
reserve sufficient Road Impact Fee Credits to support development within the Property.
County Administrator With copy to: County Attorney
2300 Virginia Avenue 2300 Virginia Avenue
Fort Pierce, Florida 34982 Fort Pierce, Florida 34982
Where an established Community Development District (CDD) issued bonds to finance impact
fee creditable improvements and levy debt assessments on lands within the CDD to secure such
bonds, the CDD shall not levy corresponding debt assessments against any homeowners who
has paid or will pay a road impact fee that covers impact fee creditable improvements.
Section 6. Indemnification; Hold Harmless.
The Development Entity hereby releases and holds harmless the County and its officers, agents,
and employees from any claims and damages, now existing or hereafter occurring or related in any
way to this Agreement. The Development Entity agrees that the County shall incur no liability for
the Development Entity actions relating to this Agreement. The Development Entity does hereby
agree to indemnify and hold the County, its officers, agents, and employees harmless from and
against any and all claims, damages, losses, expenses(including but not limited to attorneys'fees),
causes of action, judgments, liabilities arising out of or resulting from, in any fashion, the execution
of this Agreement by the County. This grant of indemnity shall be irrevocable. The grant of
indemnity contained herein is absolute and unlimited. This paragraph shall survive termination of
the Agreement.
Section 7. 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 the Developer and any successors in interest and title to the property
described in Section 4 above.
Section 8. 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
date last signed below.
Signed, sealed, and delivered in the presence of:
ATTEST: BOARD OF COUNTY
COMMISSIONERS
ST. LUCIE CO TY, IDA
By: 'IA-1-e- . ,�1Lt�l.jj +C� `
Deputy Clerk Chair��GOMM/ss
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iF cour+ troth,, County torney
Witness:
ACR ACQUISITION, LLC
a Delaware Limited Liability Company
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Print Name: I/b/Z/4c iO , llNc�4D,, Print Name: AI'�1t! A,....IAVi2 ..'Ay �/Z. #2!� Title: /6„,r,
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Witness Address
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STATE OF FLOpDa..
COUNTY OF // (,(/L
The foregoing instrument was/a�c owledged before me by means�of [�ysi I presence or of
online notarization, this y/ IaJ (date), by /'f`�c'1`
ACR Acquisition, LLC, a Delaware Limited Liability Company, on behalf of the corporation. He/she
is personally known to me or had produced vt/G1 as
idenification.
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Exhibit A — Roadway Segment Location Exhibit
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C-234Canal '
Right-of-way Described within the Becker Road at Wilson Groves Plat, BK 121, PGs 7-13
BECKER ROAD AT WILSON GROVES
BEING A REPLAT OF A PORTION OF SECTIONS 31 AND 32, TOWNSHIP 37 SOUTH, RANGE 39 EAST, ST. LUCIE COUNTY, FLORIDA
AND A PORTION OF BLOCK 6 TRACT 2, BLOCK 6 TRACT 3, BLOCK 7 AND BLOCK 8 OF THE PLAT OF THE ALAN WILSON GROVE.
AS RECORDED IN PLAT BOOK 12, PAGES 50 AND 50A AND A PORTION OF THAT 150 FOOT RIGHT—OF—WAY OF NEW E/W #5
BECKER ROAD AS RECORDED IN OFFICIAL RECORDS BOOK 4704, PAGE 661 AND A PORTION OF N/S "A" ROAD AS RECORDED IN
OFFICIAL RECORDS BOOK 2972, PAGE 802. TOGETHER WITH LANDS AS RECORDED IN OFFICIAL RECORDS BOOK 4965. PAGE 2432
OF THE PUBUC RECORDS OF THE PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA. LYING IN SECTIONS 31 AND 32, TOWNSHIP 37
SOUTH. RANGE 39 EAST, CITY OF PORT ST. LUCIE, ST. LUCIE COUNTY, FLORIDA
As stated in Section 4, above, upon issuance of the credits herein for the referenced and
exhibited segment(s) of Becker Road, contained in this agreement, said and credited
improvements to these segments are no longer eligible for "future credits" claimed by other
parties.
i
1
Exhibit B— Roadway Cost Breakdown & Credit Amount Summary
Becker Road-Range Line Road to N/S B-Cost Summary
Originally Requested Revised Request Eligible Expense Amounts
ROADWAY AND DRAINAGE Amount Amount Amount
Total-Roadway and Drainage 15,524,625.79 15,524,625.79 15,524,625.79
FPL/ELECTRIC
Land Acqusition Becker Road 15,267.00 15,267.00 -
FPL Reloc/Install 17,762.96 17,762.96 -
FPL Backbone Installation 161,225.00 161,225.00 -
ElectricCrossingSleeves 59,573.00 59,573.00 -
Irrigation Electric 10,564.60 - -
Total-FPL/Electric 264,392.56 264,392.56 -
SODDING
Landscaping 869,557.04 - -
Floratam Sod 303,750.00 303,750.00 303,750.00
Bahia Sod 11,400.48 11.400.48 11,400.48
Irrigation System 907,261.49 - -
Irrigation Fence 15,807.50 - -
Total-Sodding 2,107,776.51 315,150.48 315,150.48
ENGINEERING/PERMIT/FEES
Permit Fees 126,251.72 126,251.72 126,251.72
Bond Premiums 534,240.00 534,240.00
Planning Fees 134,631.62 134,631.62
Testing 89,183.50 89,183.50 89,183.50
Geotech 32,615.00 32,615.00 32,615.00
Civil Engineering 398,048.63 398,048.63 397,838.63
SWPPP Monitoring 15,200.00 15,200.00 15,200.00
Total-EngineeringlPermitiFees 1,330,170.47 1,330,170.47 661,088.85
TOTAL BEFORE OVERHEAD+PROFIT 19,226,965.33 17,434,339.30 16,500,865.12
OVERHEAD
Salaries(2022-2024) 361,235.86 361,235.86
Total-Salaries 361,235.86 361,235.86
Total 19,588,201.19 17,795,575.16 16,500,865.12
Profit(15%) 2,938,230.18 2,669,336.27
TOTAL 22,526,431.37 20,464,911.43 16,500,865.12
I I
$16,500,865.12 @ 31%Credit Eligibility=$5,115,268.19