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Home My WebLink About2015-235FIRST ADDENDUM TO AMENDED DEVELOPER'S AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND DIVOSTA HOMES, L.P. FOR WATERWAY VILLAGE THIS FIRST ADDENDUM is made and entered into this 8th day of December, 2015, by and between Indian River County, Florida, a political subdivision of the State of Florida, 1801 27th Street, Vero Beach, FL 32960, ("County"), and DiVosta Homes, L.P., a Delaware Limited Partnership, 4500 PGA Blvd., Suite 400, Palm Beach Gardens, FL 33418 ("Developer"). WITNESSETH WHEREAS, County and Developer entered into that "Amended Developer's Agreement Between Indian River County, Florida and DiVosta Homes, L.P. for Waterway Village" dated May 11, 2010 ("Agreement"); and WHEREAS, as a result of action by the Florida Legislature, specifically House Bill 7207, amending Section 380.06(19)(c), Florida Statutes, certain obligations of the Developer under the Agreement were extended by four (4) years; and WHEREAS, County and Developer agree that as a result of the action by the Florida Legislature, it is necessary and appropriate to modify the Agreement as stated herein, in order to maintain the spirit and intent of the Agreement as originally contemplated by the Developer and the County; and NOW, THEREFORE, for and in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter stated, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by both parties, the County and the Developer hereby agree as follows: 1. The foregoing recitals are incorporated as if fully restated herein. 2. Section 3.A. of the Agreement is hereby amended and restated as follows: (hereafter, words or numbers marked with a strike -through are deleted; words or numbers underlined are added): 3. A. Building permits for Waterway Village shall be issued in staged increments and vested for traffic concurrency as follows: (i) 733 single family dwelling units in Phases I and II were previously vested for traffic concurrency and shall remain vested for traffic concurrency through December 31, 281.6 2020. Development of a recreational/clubhouse on 2.2 acres, the school site, and preservation areas may also commence at any time and under the County's development regulations are not subject to concurrency and are therefore deemed vested. (ii) Commencing in 2012 2016, 150 additional single family dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 2049 2023. Development of a recreational/clubhouse on 2.7 acres may also commence in 2012 or any time thereafter and under the County's development regulations is not subject to concurrency and is therefore deemed vested. (iii) Commencing in 2043 2017, 150 additional single family dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 2020 2024. (iv) Commencing in 2044 2018, 52 additional single family dwelling units and 98 multifamily dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 202-1- 2022. Development of a recreational/clubhouse on 1.5 acres may commence in 2014 or any time thereafter and under the County's development regulations is not subject to concurrency and is therefore deemed vested. Development of 20,000 square feet of Neighborhood Commercial uses may also commence in 2014 or any time thereafter and shall remain vested for traffic concurrency through December 31, 2024 2025, subject to Paragraph 7.B. of the Amended Developer's Agreement. (v) Commencing in 2015 2019, 150 additional single family dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 2022 2026. Development of a recreational/clubhouse on 2.4 acres may also commence in 2015 or any time thereafter and under the County's development regulations is not subject to concurrency and is therefore deemed vested. (vi) Commencing in 2044 2020, 26 additional single family dwelling units and 124 multifamily dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 2023 2027. Development of a recreational/clubhouse on 4.2 acres may also commence in 2016 or any time thereafter and under the County's development regulations is not subject to concurrency and is therefore deemed vested. (vii) Commencing in 2017 2021, 113 additional single family dwelling units may pull building permits and shall remain vested for traffic concurrency through December 31, 2024 2028. 3. Section 3.B. of the Agreement is hereby amended and restated as follows: 3.B. The two dates specified in paragraphs 3.A.(ii) — (vii) are the dates between which building permits for the development specified in each provision must be pulled in order to maintain the vesting of the applicable dwelling units or nonresidential development. The vesting provided for in paragraphs 3.A.(i) — (vii) shall lapse for dwelling units or nonresidential development for which a building permit has not been pulled before the expiration of the applicable vested period, unless Developer pays impact fees and has been issued a concurrency certificate for such units. 4. Section 7.B. of the Agreement is hereby amended and restated as follows: 7.B. The Developer agrees to prepay all traffic impact fees (subject to available impact fee credits) for 1,596 dwelling units in Waterway Village no later than December 31, 2015 2019, unless those impact fees are paid earlier at the time of the issuance of building permits. The Developer shall have the option to prepay the traffic impact fees for the 20,000 square feet of Neighborhood Commercial uses by December 31, 2015 2019, or at such time as the Developer elects; provided however, the 20,000 square feet of Neighborhood Commercial uses will not be vested for traffic concurrency if the traffic impact fees for the Neighborhood Commercial uses are not paid by December 31, 2045 2019. The Developer acknowledges that any impact fees paid to the County are non-refundable under the County's Code or Ordinances. 5. Except as amended or restated by this Addendum, the Agreement remains in full force and effect. 6. Upon approval and execution by Developer and County, this Addendum shall be attached as an exhibit to the Amended and Restated Development Order, in accordance with the terms of the Amended and Restated Development Order. 3 DIVOSTA HOMES, L.P., a Delaware limited partnership By: DiVosta Home3s Holdings, LLC a Delaware limit- a liability company, its G By. Prin Its: WITNESS: WITNESS: (Corporate seal is acceptab in place of witnesses) BOARD OF COUNTY COMMISIONERS INDIAN RIVER COUNTY, FLORIDA By: Print Name: Its: Bob Solari Chairman BCC Approved: December 8, 5 Attest: By: Jeffref R. Smi and, er Qom4J L?' eputy Cle Name: William K_ DPRraa1 (Approved as to Form and Legal Sufficiency) STATE OF FLO IDA COUNTY OF The oregoin instrument was acknowledged before me this day of 2015, by 1^1 S S f , as V e lJ �a Arch 1414„/ of DiVosta Homes Ho dings, LLC, a Florida limited liability company, in its capacity as the general partner of DiVosta Homes, L.P., a Delaware limited partnership. He is personally known to me or has produced - as identification. (Notary Seal) My Commission Expires: AOr#„ t CHRISTINE Ffa MY COMMISSION # FF 923214 . �- = EXPIRES: October 1, 2019 Bonded Thu Notary Pubk Unden iters