7/19/2016 11:09:01 AM
9/30/2015 8:44:46 PM
Official Document Type
Agenda Item Number
Antilles Vero Beach, LLC
Developer's Agreement intersection improvements
CR510 and US 1
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!, 1 � C) (5 <br /> DEVELOPER' S AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> ANTILLES VERO BEACH, LLC <br /> FOR ANTILLES SUBDIVISION <br /> THIS AGREEMENT , entered this 17thday of May , 2005 , by and between <br /> INDIAN RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25 " <br /> Street, Vero Beach, Florida, 32960 hereafter called COUNTY and ANTILLES VERO BEACH , <br /> LLC , 277 SE FIFTH AVENUE, DELRAY BEACH , FLORIDA 33483 , TELEPHONE NO . <br /> ( 561 )279- 8952 , hereafter referred to as the DEVELOPER. <br /> WITNESSETH <br /> WHEREAS , the DEVELOPER has applied to develop a residential development to be <br /> known as ANTILLES on approximately 134 acres of land on the east side of US 1 , between Quay <br /> Dock Road and 63 `d Street in Indian River County, Project Number SD- 04 -08 - 37 (2004020205 - <br /> 44528 ) , the legal description is attached as Exhibit "A" and incorporated herein by reference , and ; <br /> WHEREAS , the COUNTY and DEVELOPER share mutual concerns with respect to <br /> improvements at the intersection of CR 510 and US 1 , and ; <br /> WHEREAS , the COUNTY is planning to make improvements to the intersection of CR 510 <br /> and US 1 , and ; <br /> WHEREAS , both the COUNTY and DEVELOPER can mutually benefit each other through <br /> a joint effort that will share the cost of the proposed CR 510/US 1 intersection improvements . <br /> NOW, THEREFORE , in consideration of the mutual terms , conditions , promises , covenants <br /> and premises hereinafter, the COUNTY and DEVELOPER agree as follows : <br /> 1 . The above recitals are affirmed as being true and correct and are thereby incorporated herein. <br /> 2 . In order to accommodate increased traffic generated by Antilles , COUNTY would be <br /> required to make improvements to the intersection of CR 510/US 1 in the amount of <br /> $ 1 ,400 , 000 , of which the DEVELOPER' S fair share of cost is 1 . 9% or $26 , 600 . 00 . The <br /> DEVELOPER shall pay to the COUNTY the sum of $26 ,600 . 00 prior to issuance of a land <br /> development permit as a contribution for construction of the intersection improvements at <br /> CR 510/US 1 . The DEVELOPER ' S obligation with respect to the intersection CR 510/US 1 <br /> shall be deemed satisfied so long as the DEVELOPER is in compliance with this Agreement . <br /> The DEVELOPER shall have no further obligation with respect to the CR 510/US 1 <br /> intersection, and neither the DEVELOPER nor any purchaser of, or within, Antilles be <br /> 1 <br />
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