TO: Honorable Mayor & Members of the North Port Commission
FROM: Jason Yarborough, Interim City Manager, ICMA-CM
TITLE: Approve the First Amendment to City of North Port, Florida and North Port Health Investors, LLC Water and Wastewater System Developer's Agreement.
Recommended Action
Approve the First Amendment to City of North Port, Florida and North Port Health Investors, LLC Water and Wastewater System Developer's Agreement.
Background Information
The North Port Health Investors, LLC. entered into a Standard Developer's Agreement (Agreement) with the City of North Port on October 28, 2019, for the property located at the corner of South Sumter Boulevard and Greenwood Avenue. The original Agreement granted the Developer 109 Equivalent Residential Connections (ERCs). Due to unforeseen circumstances relating to the development of the property during these unprecedented times, the Developer would like to amend the previously approved Capacity Fee Payment Schedule outlined in Section 20.3 of the Agreement. To facilitate delays in construction due to COVID-19, this Amendment grants the Developer an additional 22 months before the first Water and Wastewater Capacity Fee payment is due, taking the payment due date from on or before November 1, 2019 to on or before September 1, 2021.
The Amendment to the Standard Developer's Agreement between the City of North Port and the North Port Health Investors, LLC 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 for an additional year which effectively also delays the Guaranteed Revenue Charges which begins upon Capacity Fee payment for one year as well. This is estimated to be no more than $65,945.
Procurement
Not applicable.
Attachments:
1. Amendment to Standard Developer's Agre...
Click here for full text