TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: Approve the West Villages Developer Agreement (Post Annexation), Establishing System Improvements to be Constructed within the West Villages Improvement District for Fire/Rescue, Law Enforcement, Parks, and General Government and Creating a Method of Reimbursement from Impact Fees Collected within the WVID; Memorandum of Agreement referencing West Villages Developer Agreement (Post Annexation) and Joinder and Consent; and Acknowledging a Joinder and Consent to Dedications, Reservations, Covenants, Restrictions, and Obligations to Convey.
Recommended Action
Approve the West Villages Developer Agreement (Post Annexation) as presented or amended; Memorandum of Agreement referencing West Villages Developer Agreement (Post Annexation) and Joinder and Consent; Joinder and Consent does not require Commission Approval.
Background Information
The West Villages property was annexed into the City of North Port over several years, beginning in 2001, with the final piece being annexed in 2015. The West Villages Improvement District (WVID) was created on June 17, 2004 with enabling legislation in Chapter 2004-456, Laws of Florida for the purpose of financing, planning, and constructing infrastructure within the subject property. On June 26, 2006, the City of North Port, West Villages Improvement District, and Fourth Quarter Properties XXXII, LLC entered into the General Principles of Agreement, which represents the exactions for the developer’s proportionate fair share of the City’s costs to support the new development.
The General Principles of Agreement (GPA, Attachment 4) set out requirements for land dedications provision of various system improvements, and a method by which the developer would be reimbursed by the City from impact fees. Specific sections addressed Fire & EMS, Law Enforcement, Parks and Recreation, Solid Waste, and General Government. The GPA was considered to be the basis for a future Post Annexation Agreement (PAA), which would provide for detailed execution of the requirements and replace the GPA. The PAA was to be approved no later than October 1, 2006, however with the downturn in the economy this was not completed. The GPA remains in effect until the adoption of the PAA.
The new West Villages Developer Agreement (Post Annexation) (‘Agreement,’ Attachment 1) is intended to fulfill the requirements of the PAA. The parties to the Agreement are the City of North Port, the WVID, and the West Villages, LLLP (WVLP). The Agreement provides for an update to the stipulations of the GPA to meet current level of service standards and the changing needs based on development patterns within the subject property. It provides for specific development standards, locations of public lands, and timing of improvements. The Agreement also details reimbursement procedures, requirements for conveyance of land and system improvements, and enforcement procedures. A full comparison of the GPA with the Agreement is provided in Attachment 5.
In addition to the primary Agreement, two companion agreements are included with this approval, a Memorandum of Agreement for West Villages Developer Agreement (Post Annexation) and Joinder and Consent (MOA, Attachment 2), and a Joinder and Consent to Dedications, Reservations, Covenants, Restrictions, and Obligations to Convey (‘Joinder,’ Attachment 3). The MOA is an acknowledgment filed with the County as a public notice of the City’s rights in the property. This makes it clear in the land records that the properties have a cloud on the title. The Joinder binds each of the land-owning West Villages entities, of which there are seven, to the Agreement. It requires acknowledgment of the requirement to convey real property to the City and that their ownership interest is subordinate to the City’s interest.
Legal has reviewed the agreements as to form and content.
Strategic Plan
Develop and maintain the City’s roads, bridges, stormwater drainage, and waterways with creative infrastructure funding mechanisms.
Maintain the adopted level of health and public safety services.
Expand access to community recreation, green space, and Blueways for public enjoyment.
Financial Impact
Impact fees collected within the West Villages Improvement District are placed into subarea accounts. These accounts will be used to reimburse the WVID and/or WVLP, as applicable, for the cost of the system improvements outlined in the agreement. The current account balances for the WVID subarea accounts are listed in the table below. It is important to note that the requirements for reimbursement in the agreement will extend past the current available balances and will include additional impact fees collected within the WVID as development continues. Reimbursement is made quarterly, not to exceed the available balance at the time of the request.
|
|
WVID-Law Enforcement Impact Fee Fund-150 |
WVID-Fire Impact Fee Fund-151 |
WVID-Parks & Recreation Impact Fee Fund-152 |
WVID-Solid Waste Impact Fee Fund-156 |
WVID-General Government Impact Fee Fund-157 |
|
|
Restricted Fund Balance |
Restricted Fund Balance |
Restricted Fund Balance |
Restricted Fund Balance |
Restricted Fund Balance |
|
09/30/2019 Unaudited Fund Balance |
$673,741 |
$823,711 |
$2,199,128 |
$510,085 |
$466,073 |
|
|
|
|
|
|
|
|
2020 Amended Reserve (Use) of Fund Balance |
$13,990 |
$(616,620) |
$661,090 |
$164,610 |
$214,440 |
|
Projected Fund Balance as of 9/30/20 |
$687,731 |
$207,091 |
$2,860,218 |
$674,695 |
$680,513 |
|
|
|
|
|
|
|
|
Projected "Available" Fund Balance at 09/30/20 |
$687,731 |
$207,091 |
$2,860,218 |
$674,695 |
$680,513 |
Procurement
N/A
Attachments:
1. West Villages Developer Agreement (Post Annexation)
2. Memorandum of Agreement for West Villages Developer Agreement (Post Annexation) and Joinder and Consent
3. Joinder and Consent to Dedications, Reservations, Covenants, Restrictions, and Obligations to Convey
4. General Principles of Agreement, dated June 26, 2006 with amendments.
5. Comparison of Principles of Agreement to Post Annexation Agreement
Prepared by: Nicole Galehouse, AICP, Planning Division Manager
Department Director: Frank Miles, MPA, Director, Neighborhood Development Services