|Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 23, 2014|
Agenda Item #21
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)
Contact and/or Presenter Information
Impact Fee Program Manager
748-4501, Extension 3966
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).
MANATEE COUNTY COMPREHENSIVE PLAN 5.1 TRAFFIC CIRCULATION ELEMENT - FUTURE MAJOR ROADWAYS LAND DEVELOPMENT CODE, CHAPTER 8 - IMPACT FEES, SECTION 807 - CREDITS
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
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
Amount and Frequency of Recurring Costs
Attachment: Amended FAC Corona Creekwood.pdf
Attachment: New FAC Neal Communities.pdf
Attachment: Signed Notarized Assignment From Corona Creekwood.pdf