Okaloosa County BOCC — September 3, 2013 — KP Outparcel Transportation Agmnt — reading text

TRANSPORTATION INFRASTRUCTURE AGREEMENT This Transportation Infrastructure Agreement is made and entered into as of the 30th day of July, 2013, by and between Synovus Bank (hereinafter "Bank") and Okaloosa County, Florida, (hereinafter "the County") a political subdivision of the State of Florida. WHEREAS, Bank is the owner of all that certain, real property located in Okaloosa County, Florida and more particularly described in Composite Exhibit "A" attached hereto (hereafter referred to as "the Property"), located on the north side of U.S. Hwy 98 between Triumph Drive and Kelly Plantation Drive, Destin, FL, and referred to as the Kelly Plantation commercial properties parcels 1A-2, 1B-1, 1B-2, 3-B; and WHEREAS, Bank proposes to develop 44,105 square feet of commercial development consisting of retail, restaurants, banks, office buildings, or other uses (hereafter referred to as the "Bank Development") on the Property; and WHEREAS, the Bank Development is expected to impact three segments included in the Okaloosa County Transportation Concurrency System. These segments include U.S. Hwy 98 from CR 2378 to Walton County Line, Commons Drive from Matthew Boulevard to Kelly Plantation, and Commons Drive from Kelly Plantation Drive to Two Trees Road. WHEREAS, Bank has prepared and submitted to the County a Traffic Impact Analysis (hereafter referred to as the "Traffic Analysis") which has been reviewed and accepted by the County and is attached and incorporated herein as Composite Exhibit "B"; and WHEREAS, the Traffic Analysis shows that the impacted segment of U.S. Hwy 98 would operate at an acceptable level of service with the additional trips to be generated by the Bank Development. Furthermore, using the FDOT Generalized Tables indicates Common Drive has sufficient capacity for the Bank Development. However, using the City of Destin Interlocal Agreement/Unified Transportation Concurrency Methodology (UTCMS) shows that Commons Drive is over capacity. WHEREAS, to mitigate this capacity deficiency on Commons Drive, the Bank will ensure the safety improvements and modifications (westbound right turn lanes) on U.S. Hwy 98 are built at an estimated total cost of $517,596.00; WHEREAS, as part of the safety improvements, the Bank will ensure the design of the Bank Development complies with and has in place legally enforceable cross easement connections as approved by the variance attached and incorporated herein as Exhibit "'C"; and WHEREAS, other site-related operational improvements will be solely at Bank's cost and are not addressed herein; NOW, THEREFORE, the parties agree as follows: 1. Recitals Incorporated. The foregoing recitals are true and correct and are incorporated as part of this Agreement. 2. Net Amount Due from Bank. Bank agrees to (or cause to be) designed and implemented certain roadway improvements and modifications described in Exhibit "D". The improvements are expected to be developed in conjunction with the site development of the parcels Page 1| of 4 that are directly associated with the improvements. The improvements will be constructed in three phases as follows: Parcels Associated improvements Phase I Parcels 1A-2 & 1B-1 Commons #1 plus access road and FDOT #2 Phase II Parcel 1B-2 FDOT #1 and FDOT #3 Phase III Parcel 3-B FDOT #4 and FDOT #5 3. Capacity to be Reserved. The County agrees to reserve 262 pm peak hour trips for the Bank Development as described in the Traffic Analysis. The County agrees that Bank, in its sole discretion, shall be allowed to assign some or all of the 262 pm peak, hour trips to successors or assigns for the Bank Development, or for another project within the boundary of the Property. Provided, however, that if the 262 pm peak hour reserved trips is insufficient for build out of the Bank Development or other project within the boundary of the Property, Bank or its successors or assigns shall apply for additional concurrency approval under then-existing traffic conditions and pursuant, to the County concurrency management regulations then in effect before proceeding with such development. 4, Satisfaction of Traffic Mitigation Requirements. The County acknowledges and agrees that, upon execution of this Agreement, and conditioned on the improvements being built, Bank shall be conclusively deemed, to have satisfied all requirements of the County Comprehensive Plan and the County land development code relating to the mitigation of traffic impacts, transportation concurrency, and/or financial feasibility for development that would generate a total 262 new pm peak hour trips located on the Property. 5. City of Destin Review. The County and Bank acknowledge that the connections to Hwy 98 are within the city limits of Destin, FL and the City must concur with the mitigation described herein. Accordingly, the Bank submitted this proposed mitigation to the city for review. Written confirmation that the City approves this project is attaches as Exhibit "E". 6. Agreement Binds Successors and Assigns; Notice to Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns. A copy of this Agreement and all exhibits shall be recorded in the public records of Okaloosa County with all recordation expenses paid by Bank; further, a copy will be provided to all successors and assigns. The Agreement may be assigned by the Bank and any such assignment will be effective upon notice to the County. 7. Duration of Agreement. The duration of the Agreement shall be for five (5) years commencing with the effective date of this Agreement. This Agreement may be extended by the mutual consent of the parties for an additional five (5) years. 8. Effective Date; Notices. This Agreement shall be effective on the date of the last execution below. Notices required under this Agreement shall be sent to the following addresses unless written notice of change of address has been previously given: To the County: John Hofstad Okaloosa County Director of Public Works 1759 S. Ferdon Blvd Crestview, FL 32536 Page 2 of 4 To Bank: Ken Daniel Asset Manager; Synovus Bank Post Office Box 1747 Athens, GA 30603 With a copy to: William J. Dunaway Clark, Partington, Hart, et al. 125 W. Romana St., Suite 800 Pensacola, FL 32502 IN WITNESS WHEREFOR, the parties hereto have executed this Agreement on the day and year set out below. Signed, sealed and delivered OKALOOSA COUNTY, FLORIDA In the presence of Print Name: Title: Date: STATE OF FLORIDA COUNTY OF SWORN TO AND SUBSCRIBED to before me this day of , 2013, by on behalf of OKALOOSA COUNTY, FL, who is: (notary must check applicable line) is personally known to me. produced a current driver's license as identification. produced as identification. [SEAL] Notary Public Commission No.: My Commission Expires: Page 3 of 4 Signed, sealed and delivered In the presence of Be OU, S Leon Nally STATEOF Gzoequa COUNTY OF WAcKSe ye) SYNOVUS BANK> tae = nese Print Name: ~~ /) Gewue Aniel Title: Spiced Anmets DkLlte Date: of r5/73 d nj SWORN TO AND SUBSCRIBED to before me this 2®““day of Ocfolre _, 2013, by RL Kenzie SAdie/on behalf of SYNOVUS BANK, who is: (notary must check applicable driver's license as identification. as identification. line) / is personally known to me. produced a current produced [SEAL] Juan QO. \ur CO Notary Public entenen, : 8 ety Commission No.: “GA, By Page 4 of 4 Composite Exhibit “A” Property Legal Descriptions PROJECT # 13-5605-—S 9/18/13 PARCEL 1A-2: COMMENCE AT AN EXISTING CONCRETE MONUMENT (NO NUMBER) MARKING THE SOUTHEAST CORNER OF LOT 4, BLOCK 6 OF SILVER BEACH SUBDIVISION AS RECORDED IN PLAT BOOK 1, PAGE 16 1/2 OF THE PUBLIG RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE PROCEED NORTH 03 DEGREES 58 MINUTES 48 SECONDS EAST ON THE EAST LINE OF SAID LOT 4, AND THE NORTHERLY EXTENSION THEREOF, A DISTANCE OF 1177.28 FEET TO A POINT OF INTERSECTION WITH THE CENTERLINE OF FLORIDA STATE ROAD 30 (RIGHT-OF-WAY VARIES); THENCE SOUTH 86 DEGREES 01 MINUTES 23 SECONDS EAST ON SAID CENTERLINE, FOR A DISTANCE OF 3848.75 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE NORTHERLY, HAVING A RADIUS 5729.58 FEET; THENCE GO ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 5729.58 FEET, THROUGH A CENTRAL ANGLE OF 3 DEGREES 20 MINUTES 30 SECONDS, FOR AN ARC DISTANCE OF 334.15 FEET (CHORD BEARING: SOUTH 87 DEGREES 41 MINUTES 38 SECONDS EAST, CHORD DISTANCE: 334.11 FEET); THENCE DEPARTING SAID CENTERLINE, GO NORTH 00 DEGREES 38 MINUTES 07 SECONDS EAST, FOR A DISTANCE OF 100.00 FEET TO THE INTERSECTION WITH THE NORTHERLY RIGHT—OF—WAY LINE OF SAID FLORIDA STATE ROAD, BEING ON A CURVE HAVING A RADIUS OF 5629.58 FEET, THENCE GO ALONG THE NORTHERLY RIGHT—OF—WAY LINE OF SAID FLORIDA STATE ROAD, BEING A CURVE HAVING A RADIUS OF 5629.58 FEET AND CONCAVE NORTHERLY, THROUGH A CENTRAL ANGLE OF 3 DEGREES 20 MINUTES 30 SECONDS, FOR AND ARC DISTANCE OF 328.32 FEET (CHORD BEARING: N87°41'38"W, CHORD DISTANCE: 328.28 FEET) TO THE POINT OF TANGENCY; THENCE GO NORTH 86 DEGREES 01 MINUTES 23 SECONDS WEST ALONG THE NORTHERLY RIGHT—OF—WAY LINE OF SAID FLORIDA STATE ROAD, FOR A DISTANCE OF 97.78 FEET FOR THE POINT OF BEGINNING; THENCE GO NORTH 86 DEGREES 01 MINUTES 23 SECONDS WEST ALONG THE NORTHERLY RIGHT—OF—WAY LINE OF SAID FLORIDA STATE ROAD, FOR A DISTANCE OF 236,20 FEET TO THE SOUTHWEST CORNER OF PARKWAY PARCEL 1A—2 AS RECORDED IN OFFICIAL RECORDS BOOK 2948 AT PAGE 1183 OF THE PUBLIC RECORDS OF OKALOOSA COUNTY, FLORIDA; THENCE DEPARTING THE NORTHERLY RIGHT—OF—WAY LINE OF SAID FLORIDA STATE ROAD, GO NORTH O03 DEGREES 58 MINUTES 37 SECONDS EAST, FOR A DISTANCE OF 289.51 FEET TO THE SOUTHERLY RIGHT-OF-WAY LINE OF COMMONS DRIVE WEST (RIGHT—OF—WAY VARIES); THENCE GO_SOUTH 74 DEGREES 27 MINUTES 11 SECONDS EAST ALONG SAID SOUTHERLY RIGHT OF WAY LINE FOR A DISTANCE OF 3.69 FEET TO A POINT OF CURVATURE; THENCE GO ALONG A CURVE CONCAVE NORTHERLY, HAVING A RADIUS OF 525.00 FEET; THENCE GO ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 525.00 FEET THROUGH A CENTRAL ANGLE OF 09 DEGREES 31 MINUTES 29 SECONDS FOR A DISTANCE OF 87.28 FEET (CHORD BEARING SOUTH 79 DEGREES 12 MINUTES 56 SECONDS EAST, CHORD DISTANCE OF 87.18 FEET); THENCE GO SOUTH 73 DEGREES 22 MINUTES 53 SECONDS EAST ALONG SAID SOUTHERLY RIGHT—OF—WAY LINE, FOR A DISTANCE OF 52,00 FEET TO THE POINT OF CURVATURE OF A NON TANGENT CURVE BEING CONCAVE NORTH, HAVING A RADIUS OF 537.00 FEET; THENCE GO ALONG SAID SOUTHERLY RIGHT~OF—WAY LINE ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 537.00 FEET THROUGH A CENTRAL ANGLE OF 11 DEGREES 00 MINUTES 39 SECONDS FOR AN ARC DISTANCE OF 103.20 FEET (CHORD BEARING NORTH 85 DEGREES 03 MINUTES 18 SECONDS EAST, CHORD DISTANCE OF 103.04 FEET); TO THE POINT OF REVERSE CURVATURE OF A CURVE HAVING A RADIUS OF 963.00 FEET BEING CONCAVE SOUTH, THENCE GO ALONG SAID SOUTHERLY RIGHT-OF-WAY LINE ALONG THE ARC OF SAID CURVE HAVING A RADIUS OF 963.00 FEET THROUGH A CENTRAL ANGLE OF 03 DEGREES 46 MINUTES OB SECONDS FOR AN ARC DISTANCE OF 63.35 FEET (CHORD BEARING NORTH 81 DEGREES 26 MINUTES 02 SECONDS EAST, CHORD DISTANCE 63.34 FEET); THENCE DEPARTING SAID SOUTHERLY RIGHT—OF—WAY LINE GO SOUTH 07 DEGREES 24 MINUTES 39 SECONDS EAST, FOR A DISTANCE OF 10.72 FEET TO A POINT OF CURVATURE; THENCE GO ALONG A CURVE CONCAVE WESTERLY HAVING A RADIUS OF 100.00 FEET, FOR AN ARC OF 97.96 FEET (DELTA = 56 DEGREES 07 MINUTES 36 SECONDS, CHORD BEARING = SOUTH 20 DEGREES 39 MINUTES 09 SECONDS WEST, CHORD DISTANCE = 94.09 FEET) TO A POINT OF REVERSE CURVATURE; THENCE GO SOUTHERLY ALONG A CURVE CONCAVE EASTERLY AND HAVING A RADIUS OF 150.00 FEET, FOR AN ARC OF 117.13 FEET (DELTA = 44 DEGREES 44 MINUTES 20 SECONDS, CHORD BEARING = SOUTH 26 DEGREES 20 MINUTES 47 SECONDS WEST, CHORD DISTANCE = 114.17 FEET) TO A POINT OF TANGENCY; THENCE GO SOUTH 03 DEGREES 58 MINUTES 37 SECONDS WEST FOR A DISTANCE OF 90.57 FEET TO THE POINT OF BEGINNING. SAID