TO: Mayor and Commission AGENDA DATE: 2/5/2024
FROM: Interim City Manager AGENDA ITEM: 9 - E
SUBJECT:
Title
Request approval for reimbursement for an overpayment of proportionate fair share amount $622,203.40 to Seefried Industrial Properties (I-4 Industrial Park) - Phyllis Wallace, Interim Public Works Director (386) 878-8965.
Strategic Goal: Infrastructure
Body
LOCATION:
Normandy Boulevard NORTH
COST:
$622,203.40
SOURCE OF FUNDS:
Transportation Fund FY 2023/2024
ORIGINATING DEPARTMENT:
Public Works
STAFF RECOMMENDATION PRESENTED BY:
That the Commission approve and authorize the reimbursement of overpayment of proportionate fair share in an amount not to exceed $622,203 - Phyllis Wallace, Interim Public Works Director (386) 878-8965.
POTENTIAL MOTION:
Recommendation
"I move to approve the overpayment to Seefried Industrial Properties in the amount of $622,203.40 - The City Manager has the authority to make corrections of scrivener's errors and the like."
END
BACKGROUND:
Background
Pursuant to the recorded Development Agreement for the overall parcel (Instrument No. 2021206258), the owner/developer was responsible for making a proportionate fair share payment to the City in the total amount of $889,344.40 for the overall parcel, which is to be used toward the improvement of N. Normandy Boulevard. $267,141.00 of this $889,344.40 amount is allocable to the Phase 1 warehouse project portion of the overall parcel which has been developed. Although owner/developer was only required to pay the $267,141.00 amount to the City since Phase 1 is the only portion of the overall parcel that has been developed yet, they paid the entire proportionate fair share amount ($889,344.40) to the City due to an error. This reimbursement will not relinquish the developer's responsibility for paying the remaining balance of the overall proportionate fair share amount to the City as the remaining portions of the overall parcel are developed at the...
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