HomeMy WebLinkAbout2008-132DEVELOPER'S AGREEMENT BETWEEN
INDIAN RIVER COUNTY, FLORIDA
AND
POINTE WEST OF VERO BEACH, LTD
THIS AGREEMENT, entered this 24th day of Apri 1 , 2008, by and
between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of
Florida, 1801 27 h Street, Vero Beach, Florida 32960, hereafter called COUNTY, and
POINTE WEST OF VERO BEACH, LTD., 1999 Pointe West Drive, Vero Beach,
Florida 32966, hereafter referred to as DEVELOPER.
WITNESSETH
WHEREAS, the DEVELOPER has applied to develop a commercial development to be
known as Pointe West Town Center, consisting of 85,866 square feet of mixed use
commercial space (the "Project") to be built at the intersection of 16th Street and Pointe
West Drive in Indian River County, Project Number 99070081-60722, the legal
description is attached as Exhibit A and incorporated herein by reference, and;
WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to
improvements at the intersection of State Road 60 and 58th Avenue and,
WHEREAS, the COUNTY is planning to construct roadway improvements at the
intersection of State Road 60 and 58`' Avenue and;
WHEREAS, both the COUNTY and DEVELOPER can mutually benefit each other
through a joint effort that will share the cost of the proposed State Road 60 and 58`'
Avenue intersection improvements.
NOW, THEREFORE, in consideration of the mutual terms, conditions, promises,
covenants and premises hereinafter, the COUNTY and DEVELOPER agree as follows:
The above recitals are affirmed as being true and correct and are thereby
incorporated herein.
Off -Site Intersection and Roadway Improvements:
To accommodate increased traffic generated by the Project, the COUNTY
would be required to make improvements to the intersection of State Road 60
and 58th Avenue in the amount of $13,500,000 of which the DEVELOPER'S
fair share cost is 2.05% or $276,804. The DEVELOPER shall pay to the
COUNTY the sum of $276,804 prior to the issuance of building permits for
the project. This amount is based on the Project impact on the intersection of
State Road 60 and 58th Avenue, as shown in Exhibit `B" (attached). No
impact fee credit shall be given to the DEVELOPER as a result of the
payment.
3. The COUNTY shall be responsible for the construction of the State Road 60
and 58`' Avenue intersection improvements including advertisement for bids,
contractor selection and construction inspection. In the event that the
COUNTY does not commence with the intersection improvements set forth in
paragraph 2, the COUNTY shall reimburse the amount paid by the
DEVELOPER for such improvements in accordance with paragraph 2 on or
before the earlier of ninety (90) days after the COUNTY has officially
determined not to construct such improvements or, 5 years from the execution
date of this agreement. Commencement of intersection improvements shall
include right-of-way acquisition, utility relocation, as well as drainage and
roadway improvements.
4. In the event of any litigations arising out of this Agreement, each party shall
bear its own attorney fees and costs.
No amendment, modification, change or alteration of this Agreement shall be
valid or binding unless accomplished in writing and executed by all of the
parties hereto.
This Agreement shall be binding upon and inure to the benefits of the parties
hereto and their successors, and assigns.
7. This Agreement contains the entire agreement and understanding between the
parties. No representation, statement, recital, undertaking, or promise not
specifically set forth herein shall be binding on any party hereto.
This Agreement and all matters arising hereunder shall be governed by and
construed in accordance with the laws of the State of Florida. Venue
hereunder shall lie in Indian River County, Florida.
This Agreement shall be deemed prepared jointly by each of the parties hereto
and shall be construed on parity as between the parties. There shall be no
canon of construction for or against any party by reason of the physical
preparation of this Agreement.
10. Whenever the singular number is used in this Agreement and when required
by the context, the same shall include the plural; and the masculine, feminine,
and neuter genders shall each include the others.
11. COUNTY and DEVELOPER shall grant such further assistance and provide
such additional documents as may be required by one another from time to
time, and cooperate fully with one another in order to carry out the terms and
conditions hereof and comply with the express intention of this Agreement.
12. Failure to insist upon strict compliance with any of the terms, covenants, or
conditions herein shall not be deemed a waiver of such terms, covenants, or
conditions, nor shall any waiver or relinquishment of any right or power
hereunder at any one time or times be deemed a waiver or relinquishment of
such right or power at any other time or times.
13. All words, terms, and conditions contained herein are to be read in concert,
each with the other, and a provision contained under one paragraph may be
considered to be equally applicable under another in the interpretation of this
Agreement.
14. The words herein and hereof and words of similar import, without reference
to any particular section or subdivision of this Agreement, refer to this
Agreement as a whole rather than to any particular section or subdivision
hereof.
15. In the event any term, condition, or clause of this Agreement is declared to be
illegal or unenforceable by a court of competent jurisdiction, such declaration
of illegality or unenforceability shall not affect or alter the legality or
enforceability of any remaining term, condition, or clause hereof, provided of
the parties, as set forth in this Agreement.
IN WITNESS WHEREOF the COUNTY and DEVELOPER has causedlltese,'
+6
to be executed in their names, the day and year first above written.
POINTE WESTOF VERO.
BEACH, LTD
BY: POINTE WEST OF
VERO BEACH, INC., it's
CORPORATE GENERAL
PARTNER
By: k `l -!T • 4 �
Charles R. Mechling, President
WITNESS:
Scott Oberl
BOARD OF COUNIIYJ pVX%IMISSIOI XR_S -
INDIAN RIVER CO N. FLORIDA
pTamd�ilL �t
e ndra L. Bmeer%,.;G1la1rman
BCC Approved: April 29, 2008
Approved:
Attest:�� .C%.
For: Jeffrey K. Barton, Clerk of Court
By:
Attest:�� .C%.
For: Jeffrey K. Barton, Clerk of Court
EXHIBIT "A"
LEGAL DESCRIPTION
Pointe West Town Center, more particularly described as follows: Tracts "T' and "K",
Pointe West North Village North Village Phase I, PD as recorded in Plat Book 15, Page
82, Public Records of Indian River County, Florida.
EXHIBIT "B"
OFFICE PARK
PEAK
% TRIPS
SR60/58AV
SR60/58AV
$/TRIP
HOUR
AT
ADDED
PROJECT
1$13.5M/
USE
SIZE
TRIPS
SR60/58AV
TRIPS
COST
2,146
104
42%
29146
$13,500,000
$6,291
104 x.42
= 44
44 x 6,291 =
$276,804
GENERAL OFFICE
447066
51.3%
22
$ 138,402
MEDICAL OFFICE
5,268
6.1%
3
$ 182873
SPECIALTY RETAIL
171484
20.4%
9
$ 56,619
QUALITY
RESTAURANT
13,780
16.1%
7
$ 44,037
HEALTH CLUB
5268
6.1%
3
$ 18.873
TOTAL
85,866
100.0%
44
$ 276,804