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J-0 0 i 14'r �i <br />DATE:. JULY 1, 1992 <br />TO: JAMES E. CHANDLER <br />COUNTY ADMINISTRATOR <br />FROM: TERRANCE G. PINTO <br />DIRECTOR OF UTILITY S VICES <br />PREPARED WILLIAM F. MCCAI <br />AND STAFFED CAPITAL PROJECTS WEER <br />BY: DEPARTMENT OF UTILITY SERVICES <br />SUBJECT: CLOSURE OF SEXTON DEVELOPER'S AGREEbfflNT <br />SEXTON PROPERTIES OF VERO BEACH, INC. <br />On April 3, 1990, the Indian River County Board of County <br />Commissioners approved a developer's agreement with Ralph Sexton <br />of Sexton Properties of Vero Beach, Inc. (see attached). The <br />agreement was for reimbursement due to oversizing of a water main <br />system; details of this reimbursement are included in the agreement. <br />ANALYSIS <br />In -the original agreement, the amount of reimbursement was to be <br />$10,708.00 and was to be accomplished by the rebate of 50% of all <br />impact fees paid by Sexton and the surrounding properties. The <br />owner has proposed to take a reduced payment of $9,267.00 (total) if <br />the Utility Department will release funds now. Currently, the <br />developer has been paid $1,941.00, leaving a balance of $8,767.00 <br />out of the original agreement amount owed. If this is approved, a <br />final payment of $7,326.00 would be made. This not only saves the <br />County money up front, but also reduces bookkeeping and accounting <br />over an unknown period of time (see attached letter dated June 15, <br />1992 from Mr. Sexton). <br />RECOMMENDATION <br />The staff of the Department of Utility <br />Board of County Commissioners authorize <br />Mr. Ralph Sexton as outlined above. <br />Services recommends that the <br />the payment of $7,326.00 to <br />Imbn Finer Ga Approved Date <br />Admin. 7 &—`Y? <br />Segel , <br />3udgot <br />Uttiitiec - � oZ <br />Flick Mgr. <br />ON MOTION by Commissioner Scurlock, SECONDED by <br />Commissioner Bowman, the Board unanimously (3-0, <br />Commissioner Bird being absent) authorized payment <br />of $7,326.00 to Ralph Sexton as outlined in staff's <br />recommendation. <br />56 <br />