TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, City Manager
TITLE: Approve the Second Amendment to the City of North Port, Florida, and North Port Health Investors, LLC Water and Wastewater System Developer's Agreement.
Recommended Action
Approve the Second Amendment to the City of North Port, Florida, and North Port Health Investors, LLC Water and Wastewater System Developer's Agreement.
Background Information
North Port Health Investors, LLC entered into a Standard Developer's Agreement (Agreement) with the City of North Port on October 28, 2019. During the initial planning stages, the Developer provided the Department of Utilities with a capacity fee payment schedule with the entire reservation of 109 Water and Wastewater equivalent residential connections (ERCs) to be paid on or before November 1, 2019. Due to unforeseen circumstances relating to financial market lending uncertainty, the Developer amended their Agreement with an effective date of January 12, 2021, which revised their capacity payment schedule outlined in Section 20.3 making the first payment due on or before September 1, 2021.
Since the approval of the First Amendment, the Developer has performed their due diligence by moving this Project forward within their organization. However, due to the continued effects of the COVID-19 pandemic, they are experiencing additional delays. The Developer desires to revise the schedule outlined in Section 20.3 so that Developer's initial payment shall be on or before March 1, 2022.
The Second Amendment to the City of North Port, Florida, and North Port Health Investors, LLC Water and Wastewater System Developer's Agreement has been reviewed by the City Attorney and is legally correct as to form.
Strategic Plan
Promote sustainable growth and development, while maintaining or enhancing quality of life in our City
Financial Impact
There will be a delay of $445,265 in water and wastewater capacity fees fo...
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