Okaloosa County BOCC — April 1, 2014 — Development Agreement — reading text

impact the Project will have on the local roadway network, a copy of which is attached hereto as Exhibit B and incorporated herein by reference. 4.2 The proposed trips resulting from the development of the Project exceeds the capacity available along segments of SR 85 and Airport Road. The parties have agreed that the Developer may address the capacity constraints in the impact area through an in-kind contribution of turn lane/roadway improvements along Lake Silver Road, as more fully set forth in section 4.4(a) below, and cash contr’ ibutions which the County will apply directly to the ongoing Fairchild Road Project, as set forth in _ section 4.4(b) and (c) below (collectively, the “Mitigation Payment”).. : 43 Th aiaateanutlbe of the Mitigation Payment, which provides value and capacity enhancement to the County roadway system, the County agrees to reserve a total trip capacity of 53 P.M. Peak’ Hourtrips ... - and 37 P.M. Peak Hour trips, respectively, in relation to the segment of State Road 85 (from Stillwell Boulevard to Old Bethel Road) and Airport Road which are to be primarily impacted by said tee 4.4 The ‘total budgeted constiuction cost of the Fairchild Road project is $2.5 million, which will’ create one thousand four hundred and forty (1440) trips. Based on the proportionate share of the total budgeted construction costs for the Fairchild Road project, the parties agree the Developer’s total Mitigation Payment amount is One Hundred Fifty Four Thousand and Eighty Dollars ($154,080), which ~ shall be paid as follows: a) Prior to the recording of the final plat for Phase 1, the Developer shall dedlge construct and dedicate a deceleration/turn lane from Lake Silver Road into the main entrance road of the development, The agreed upon value of this in-kind contribution is Fifty Thousand dollars ($50,000). b) Prior to the recording of the final plat for Phase 2, the Developer shall submit to the County payment in the amount of Sixty One Thousand Two Hundred Twenty Four dollars ($61,224), c) Prior to the recording of the final plat for Phase 3, the Developer shall submit to the County payment in the amount of Forty Two Thousand Eight Hundred Fifty Six dollars ($42,856). d) In the event the Developer chooses to develop the Project in less than shiv (3) phases, the payment due to the County will be pro-rated based on a ratio of the number of lots - requested to be developed. 4.5 The Developer shall provide improvements required to satisfy all traffic related operational considerations associated with the development, 4.6 The Developer shall construct or cause to be constructed a roadway system that will either be private or dedicated to the County within the Project, which will be available to serve all primary and accessory uses. As such, the roadway system shall either be owned and maintained as a public roadway system by the County or as a private common element of the Project by the Owners Association. The County will not be responsible for any construction or maintenance costs associated with the internal roadways of the Project unless they are dedicated to the County and formally accepted after the completion of the required bonding and warranty period. The roadway will be designed and constructed to County standards. As all roads will be low speed and low volume, all roads within the development shall be considered local roadways as defined in Section 6.03.03 C of the Okaloosa County Land Development Code. 47 The terms of this agreement shall not be construed to imply approval for water, wastewater, stormwater or solid waste concurrency nor shall it relieve the developer from complying with all applicable rules and/or regulations pertaining to this development. This agreement is applicable to only the specific items expressed herein and the Developer shall comply with all other requirements of the Okaloosa County Land Development Code in their effort to obtain development approval. ARTICLE V. AGREEMENT AND COVENANT. 5.4 By execution hereof, the County acknowledges and agrees that this particular Agreement will encourage proper use of the Property, promote economic use of land resources of the County, provide for public facilities and use, and encourage private participation i in the comprehensive planning process. The County acknowledges and agrees that it is exercising its sound discretion in this instance by entering into this Agreement to achieve mutual benefits that are particular and unique to the circumstances underlying ~ aig Agreement. : . Oak This Agreement i is assignable by the Developer and shall be binding upon, and inure to the . benefit of, all heirs, successors and assigns of the parties hereto, - 53 To the extent that ‘is Developer fails to perform any of the actions or requirements contained in _ this Agreement, the County shall provide written notice to the Developer of his failire to comply with the terms of this Agreement: Within thirty (30) days of the receipt of such notice, and in the event that the Developer fails to cure such failure within thirty (30) days after receipt of such notice, the County shall _suspend and hold in abeyance all applications for or issuance of any development orders or building permits for the Project until the failure is cured and no further phases of the Project shall be reviewed, permitted, or otherwise approved. At such time as the Developer cures the performance failure then the review and processing of applications for a development order may resume. 5.4 Any notices required to be given or elected to be given by either of the parties pursuant to the terms of this agreement shall be deemed effective provided when placed in the United States Mail, certified return receipt requested, or placed in the hands of an overnight delivery service. “As to the Developer: (Name and Address) Nature Lake of NW Florida, LLC 4399 Commons Drive East Suite 300 Destin, FL 32541 As to the County: (Name and Address) Elliot Kampert Growth Management Director Okaloosa County, Florida 1804 Lewis Turner Bivd., Suite 200 Ft. Walton Beach, Florida 32547 And a copy to: (Attorneys) Steve Hall 4399 Commons Drive East, Suite 300 Destin, FL 32541 John Dowd 901 Eglin Parkway Shalimar, FL 32579 (SIGNATURES ON FOLLOWING PAGE) IN WITNESS WHEREOF, the parties have set their hands and seals this Hf Bey of July, 20 13 OKALOOSA COUNTY BOARD OF: ma es OF Signed, sealed and delivered in the presence of: Ao p.-Safed STATE OF FLORIDA COUNTY OF OKALOOSA The foregoing instrument was acknowledged before me this _/ j his, of , 2013, by Daal fe Anas as Chairman of the OKALOOSA COUNTY BOARI) OF COUNTY COMMISSIONERS, on behalf of the Board, who is personally known to me. Hy, MARY L. CARSON tate of Florida é Gonmission E igsi ires: ie Ener he hd a woe My Commigsion Expires: j Bs Tv Te Fares oa Signed, sealed and delivered DEVELOPER in the presence of: . Nature Lake of NW Florida, LLC, a Florida limited liability company By: eet M Steven K. Hall, Esq. as agent for Craig J. Kru mber of Carson Holdings of Northwest Florida LLC, Manager ° STATE OF FLORIDA COUNTY OF OKALOOSA The foregoing instrument was acknowledged before me this 3rd day of July, 2013, by Steven K. Hall as authorized agent for Craig J. Kruse, authorized member of Carson Holdings of Northwest Florida, LLC as Manager of Nature Lake of NW Florida, LLC who is personally known to me to be the person described in and who executed the foregoing instrument as a manager for a limited liability corporation organized under the laws of the State of Florida and authorized to transact business m the State of Florida. He has acknowledged before me that he executed the foregoing instrument as such office in the name and on behalf of the corporation. VICKISPRAY MY COMMISSION # EE 15117 EXPIRES: February 6,2016 {8 My Commission Expires: Donded Th Netay Pubts Under