TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: 2019 Amended and Restated Utilities Agreement between the City of North Port, West Villages, LLLP and the West Villages Improvement District.
Recommended Action
Approve the 2019 Amended and Restated Utilities Agreement between the City of North Port, West Villages, LLLP and the West Villages Improvement District (WVID).
Background Information
On March 29, 2005, Fourth Quarter Properties, XXXII, L.L.C. entered into an Interim Utilities Agreement to reserve initial capacity for development of the Thomas Ranch Project. The interim agreement provided for a total of 2,000 ERCs over the first three years of development and required the Owner to be responsible for all infrastructure necessary to supply water and wastewater service to all potential development on the property. Development ensued based on the City's commitment to serve 5,600 ERCs of water permanently and 3,600 ERCs of wastewater on a temporary basis until the WVID wastewater treatment plant could be built. On February 27, 2007, the Interim Utilities Agreement was replaced by the Amended and Restated Utility Agreement and contemplated a new wastewater treatment plant and water treatment plant to be constructed by the WVID and dedicated at no cost to the City. Several amendments to the agreement were approved between May 29, 2007 and September 13, 2010 to reflect the economic conditions of the time.
With the downturn in the economy, the majority of the Thomas Ranch Project, with the exception of Gran Paradiso and IslandWalk, went largely undeveloped until 2014 when Mattamy Sarasota, LLC purchased the property under the name Thomas Ranch Land Partners North Port, LLLP, subsequently becoming Manasota Beach Ranchlands, LLLP. Since 2014, the number of customers in the WVID has increased ten-fold, from 380 to 3,800.
To recognize the significant changes that have taken place and bring ...
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