TO: Honorable Mayor & Members of the North Port Commission
FROM: A. Jerome Fletcher II, ICMA-CM, MPA, City Manager
TITLE: Discussion and Possible Action Regarding Approving and Authorizing the Mayor to Execute the Mutual Release, Settlement Agreement and Termination of Transportation Impact Fee Reimbursement Agreement Regarding Tuscola Boulevard Bridge Between the City of North Port, Florida and Sabal Trace Development Partners, LLC.
Recommended Action
Option 1: Approve and authorize the Mayor to execute the Mutual Release, Settlement Agreement and Termination of Transportation Impact Fee Reimbursement Agreement regarding Tuscola Boulevard Bridge between the City of North Port, Florida and Sabal Trace Development Partners, LLC.
City Commission Options
Option 1: Approve and authorize the Mayor to execute the Mutual Release, Settlement Agreement and Termination of Transportation Impact Fee Reimbursement Agreement regarding Tuscola Boulevard Bridge between the City of North Port, Florida and Sabal Trace Development Partners, LLC.
Pros:
Within ten (10 days) of approval by the City Commission, Developer shall cause the Lawsuit to be dismissed with prejudice.
The City will no longer have an obligation to fund the bridge, including no obligation to reimburse Developer for any costs it has incurred or undertaken for the design or permitting of the Bridge, or to deposit or hold any transportation impact fees collected from the Central Parc development in a segregated account.
Within ten (10) days of approval of this agreement by the City Commission, Developer shall deliver or cause to be delivered to the City a complete copy of all files related to the design, construction or permitting of the Bridge, including but not limited to all design drawings, construction plans or engineering files.
Within ten (10) days of approval of this Agreement by the City Commission, Developer shall execute or cause to be executed two easements that will allow the City to comme...
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