Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 27, 2016
REVISED September 27, 2016 - Regular Meeting
Agenda Item #18

Assignment of Virgo, LLC, Impact Fee Credit Authorization #CA-08-02(T) to 4420 Partners, LLC, Impact Fee Credit Authorization #CA-08-02(T)(R)


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-08-02(T), transferring the entire credit balance to a new Impact Fee Credit Authorization, #CA-08-02(T)(R).

Enabling/Regulating Authority
Manatee County Comprehensive Plan
5.1 Traffic Circulation Element - Future Major Roadways

Land Development Code
Chapter 11 - Impact Fees
Section 1106 - Credits Against Impact Fees

Background Discussion
Chapter 11, Section 1106 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 1106.2.B.3. and 1106.2.D. 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-08-02(T) was originally approved by the Board of County Commissioners on June 24, 2008, awarding $28,538.00 in transportation impact fee credits to Virgo, LLC.  Virgo has now agreed to assign the balance of their credits to 4420 Partners, LLC.  Virgo has provided the County with a notarized assignment authorizing the transfer of these credits to 4420 Partners.  Staff therefore recommends that a new impact fee credit authorization, CA-08-02(T)(R), be established to assign the full amount of transportation impact fee credit to 4420 Partners.  The newly-assigned credit will be authorized for use only in Transportation Benefit District “SW.”

The “parent” fee credit authorization, CA-03-02(T)(R)(2A), will be closed out once the assignment has been completed.

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

Explanation of Other

Reviewing Attorney

Instructions to Board Records
Please send original copies of all executed documents to Sharla Fouquet, Financial Management Department (Manatee County Administration Building, Suite 939).

Cost and Funds Source Account Number and Name

Amount and Frequency of Recurring Costs

Attachment:  Amended FAC Virgo LLC.pdf
Attachment:  New FAC 4420 Partners LLC.pdf
Attachment:  Original FAC Virgo LLC 6-24-2008.pdf
Attachment:  Notarized Assignment Virgo to 4420 Partners.pdf