www.mymanatee.org
Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 23, 2014
September 23, 2014 - Regular Meeting
Agenda Item #21


Subject
Assignment of Corona Creekwood, LLC, Impact Fee Credit Authorization #CA-03-02(T)(R)(2A) to Neal Communities of Southwest Florida Impact Fee Credit Authorization #CA-03-02(T)(R5)

Briefings
None

Contact and/or Presenter Information
Sharla Fouquet
Impact Fee Program Manager
748-4501, Extension 3966

Action Requested
Authorization for Chairman to execute amendment of Impact  Fee Credit  Authorization #CA-03-02(T)(R)(2A), transferring the remaining credit balance  to a new  Impact Fee Credit Authorization, #CA-03-02(T)(R5).



Enabling/Regulating Authority
MANATEE COUNTY COMPREHENSIVE PLAN 5.1 TRAFFIC CIRCULATION ELEMENT - FUTURE MAJOR ROADWAYS LAND DEVELOPMENT CODE, CHAPTER 8 - IMPACT FEES, SECTION 807  - CREDITS

Background Discussion
Chapter 8, Section 807  of the Manatee County Land Development Code provides for authorization by the Board of County Commissioners for Impact Fee Credits for contributions, payments, construction, or dedications made  to Manatee County against applicable components of impact fees.  Sections  807.2.2.3. and 807.2.4. of the Manatee County Land Development  Code stipulate that impact fee credits may  be assigned to any entity and used by the assignee to offset impact fees  in the same  benefit district as that in which  the construction of improvements was made. Such assignments are to be memorialized by an amendment to the credit authorization, and approved by the Board of County Commissioners of Manatee County.

Impact Fee Credit  Authorization CA-03-02(T)(R)(2A) was originally approved by the Board of County Commissioners on December 9, 2008, awarding $1,800,000.00 in road impact fee credits to Corona Creekwood, LLC, via an assignment of road impact fee credits in Benefit District "SE" to Corona Creekwood by Centex Homes, the previous owner of said credits. 

As part of a property exchange, Corona Creekwood has now agreed to assign the balance of their road impact fee credits in Benefit District "SE" to Neal Communities of Southwest Florida.

Corona Creekwood has  provided the County with a notarized assignment authorizing the transfer of these credits to Neal Communities.  Staff therefore recommends that a new  impact fee credit authorization, CA-03-02(T)(R5), be established to assign $1,800,000.00 in road impact fee credit to Neal Communities.  The newly-assigned credit will be eligible for road impact fee credit in Impact Fee Benefit District “SE.”  The “parent” fee credit authorization, CA-03-02(T)(R)(2A), will  be reduced by the amount of the assignment.

County Attorney Review
Not Reviewed (Utilizes exact document or procedure approved within the last 18 months)

Explanation of Other


Reviewing Attorney
N/A

Instructions to Board Records
Please send certified copies  of all executed documents to Sharla Fouquet, Financial  Management Department
(County Administration Building, 9th Floor).

Cost and Funds Source Account Number and Name
N/A

Amount and Frequency of Recurring Costs
N/A


Attachment:  Amended FAC Corona Creekwood.pdf
Attachment:  New FAC Neal Communities.pdf
Attachment:  Signed Notarized Assignment From Corona Creekwood.pdf