TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: A Resolution of the City Commission of the City of North Port, Florida, Amending the Non-District Budget for Fiscal Year 2021-2022 for Payments Pursuant to the West Villages Developer Agreement (Post Annexation) in the Amount of $1,637,195; Providing for Findings; Providing for Conflicts; Providing for Severability; and Providing an Effective Date.
Recommended Action
Approve Resolution No. 2022-R-27 and move to second reading on May 24, 2022.
Recommended Action on Second Reading
Adopt Resolution No. 2022-R-27.
Background Information
The West Villages Developer Agreement (Post Annexation) was entered into by and among the West Villages, LLP, the West Villages Improvement District and the City of North Port and was recorded on March 26, 2020. The Post Annexation Agreement requires payments from the City to the Developer when certain objectives are achieved. On April 12, 2022, the City Commission approved Resolution No. 2022-R-14 accepting the conveyance of +/- 4.66 acres of real property as well as improvements thereon which include a Fire Station, Police Substation, and related equipment. In accordance with Article 7 of the Post Annexation Agreement, quarterly payments from both the Law Enforcement Impact Fees and Fire Rescue Impact Fees will be made.
Funding in the amount of $502,170 will be budgeted from the Fire Rescue Impact Fee fund balance and $1,135,025 from the Law Enforcement Impact Fee fund balance. This funding will cover quarterly payments for Fiscal Year 2021-2022, if all budgeted revenues are received. Payments are based on actual revenue as well as current balances in the funds. Therefore, if less revenue is received, the payments will be less.
Strategic Plan
Good Governance
Financial Impact
$502,170 will be budgeted from the Fire Rescue Impact Fee fund balance and $1,135,025 will be budgeted from the Law E...
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