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HomeMy WebLinkAbout2000-168• AGREEMENT FOR CONSTRUCTION OF IMPROVEMENTS TO 5TH STREET S.W. INDIAN RIVER COUNTY, FLORIDA TI -IIS AGRCI MEN'T for Construction of Improvemcots to 501 Street S.W., between 43rd Avenue and 58th Avenue, Indian River County, Florida, is made this § th_ day of_aUfte , 2000, between THE SUNTREE PARTNERS, a Florida limited partnership, ("Developer"), and INDIAN RIVER COUNTY, a political subdivision of the State of Florida, ("County"): RECITALS: A. The Developer is under contract to purchase and is planning to develop a planned residential development ("Development") located in Indian River County, Florida, along 5th Street S.W.; with the south relief canal to the north; and Kings Highway to the west. The Development is currently identified as Residential PD 99020108-001, in Indian River County, Florida. B. The County and the Developer acknowledge that 5th Street S.W., between 43rd Avenue and 58th Avenue is currently unimproved; is designated "Rural Major Collector" on the County's future roadway functional classification map in the County's Comprehensive Land Use Plan; and is designated for right of way acquisition and improvement in the County's Comprehensive Plaut, Transportation Element, Year 2020 Roadway Improvements Plan. C. County and Developer desire that acquisition of the right of way necessary to construct 5th Street S.W. between 43rd Avenue and 58th Avenue, and the actual construction of 5th Street S.W., occur in conjunction with the development of the Developer's project. D. County and Developer further desire that construction of the bridge on 5111 Street S.W. over the Lateral "I3" Canal occur in conjunction with the development of the Developer's project. AGREEMENT: For and in consideration of the mutual promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: Recitals. The foregoing recitals are hereby incorporated as if fully restated herein. 2. Construction of Fifth Street Soutinvest. A. The Developer agrees to construct a two-lane paved roadway according to County approved standards along 5th Street S.W., between 58th Avenue and 43rd Avenue, including a three -lane roadway with lett turn lanes at the intersection of 5th Street S.W. and the Developer's main entrance way, currently called "Citrus Springs Boulevard"; and including required turn lades. Developer shall prepare design drawings and obtain necessary permits. B. County shall contact property owners and diligently pursue acquisition of all right-of-way needed for the constrt3etion of 5th Street S.W. its a major rural collector road.. O C"> 4� 3. Sth Street S.W. Reimbursement By County. A. The Developer and the County shall each be responsible for and shall pay My percent (5011/o) ofthe cost of surveying, engineering, designing, permitting, constructing, inspecting, and related costs ("Construction Costs") for 5th Street S.W. from 58th Avenue east to the point where the Developer has frontage on both sides of the road, or approximately 2,550 feet. The Developer shall pay and be responsible for twenty -Five percent (25%) of Construction Costs from that point to the eastern boundary of the Developer's project on the north side of 5th Street S.W. or approximately 400 additional feet and the County shall be responsible for seventy-five percent(75%) of such Costs. B. The County shall reimburse the Developer for Construction Costs for construction of 5th Street S.W. to 43rd Avenue, as follows: i. For that portion of 5th Street S.W. where the Developer has frontage, reimbursement by the County shall be made within thirty (30) days of the County's inspection and approval of the work. ii. The County has entered into a Developer's Agreement with the Arbor Trace Development, Inc. ("Arbor Trace'), to receive payment from Arbor Trace for the cost of construction of 5th Street S.W. between 43rd Avenue and the western limits of the Arbor Trace Development; therefore, the County will reimburse the Developer immediately upon payment by Arbor Trace to the County pursuant to that Agreement, or within two years of completion of the road, whichever comes first. iii. The County may reimburse the Developer for all of the remainder of the Construction Costs by levying a special assessment against the benefitting properties, which properties may include Arbor Trace. In any event, the Developer shall be fully reimbursed by the County, except for Developer's share described in Paragraph 3.A.. above, within two years of the completion of construction of the road by the Developer. 4. Kings Highway Improvements. County will complete its improvements to 58th Avenue (Kings Highway) between 16th Street and Oslo Road. In conjunction with said improvements, County will construct a left turn lane at 5th Street S.W. 5. 5th Street S.W. Bridge. Developer shall design and construct a three lane bridge similar to the bridge at 16th Street and Lateral B Canal for vehicular and pedestrian traffic on 5th Street S.W. across the Lateral B Canal to 58th Avenue in accordance with design drawings and specifications approved by the County, which approval shall not be unreasonably withheld. The County must approve all engineering and related costs prior to any work being authorized. 6. Bridge Reimbursement by County. The Developer shall contribute $200,000.00 toward the engineering, design, permitting, utility relocation, and construction costs of the bridge, in exchange for traffic impact fee credits for the same amount. The County shall approve :411 engineering contracts, design, pennit applications, and construction documents priorto construction or initiation of any work to be performed. The County shall reimburse the Developer for all -2- 40 0 pre -approved costs over $200,000.00, which costs shall include, but not be limited to, time, materials, labor, supervision, inspection, machinery, equipment use and rental, and all other costs, fees, and expenses incurred by Developer with respect to engineering, design, permitting, utility relocation, and construction of the bridge, not including administrative, project management, or similar fees. The County shall reimburse the Developer by payment by County check within thirty (30) days of the County's inspection and approval of the work represented by each draw or final payment made by the Developer. The County shall make such inspections within a reasonable time after notification by the Developer of each draw or final payment. The Developer shall ensure that the contractor performing the work shall provide a certificate of insurance approved by the County, and shall put up payment and performance bonds approved by the County. The Developer shall obtain three (3) competitive bids prior to awarding the contract, or shall demonstrate to the County that the unit prices of the contractor selected are competitive, comparable, or less than recent County initiated construction of a similar nature. The Developer shall use the impact fee credits described herein at the rate of not more than thirty (30) single-family units (or the multi -family unit equivalency) each year. 7. Dedication of Right -of -Way bXDeveloper. Developer agrees to dedicate 30 feet of additional right-of-way along 5th Street S.W. to County without compensation. The dedication shall be made on the plat of the Development. If the County desires to acquire right-of-way greater than the 30 feet described above, the County shall pay the Developer for such right-of-way at the same price per acre as the Developer paid to acquire the property, less the Developer's share of the special assessment project for construction of 5th Street S.W. 8. Entire Agreement. This Agreement embodies the entire agreement between the parties relative to the subject matter hereof, and there are no oral or written agreements between the parties, nor any representations made by either party relative to the subject matter hereof, which are not expressly set forth herein. 9. Amendment. This agreement may be amended only by a written instrument executed by the party or parties to be bound thereby. 10. Timeof Essence. Time is of the essence of this Agrcement,however, ifthe final date of any period which is set out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the United States or the State of Florida, then, in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. 11. Governing. Law. This Agrecment shall be governed by the laws of the State of Florida and the laws of the United States pertaining to transactions in such State. All of the parties to this agreement have participated freely in the negotiation and preparation hereof; accordingly, this Agreement shall not be more strictly construed against any one of the parties hereto. 12. Su c . s r n Assigns: Assi grment. This agreement shall bind and inure to the benefit of the parties and their respective successors and assigns. Developer may assign Developer's rights and obligations under this Agreement to an affiliated or associated legal entity in conjunction with development of the planned residential development. _3. 40 a 13. Invalid Provision. If any provision of this agreement is held to be illegal, invalid or unenforceable under present or future laws, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by such illegal, invalid, or unenforceable provision or by its severance from this Agreement. 14. Attornc sv , Fees. In the event it becomes necessary for either party hereto to file suit to enforce this agreement or any provision contained herein, the party prevailing in such suit shall be entitled to recover, in addition to all other remedies or damages, as provided herein, reasonable attorneys' fees. paralegal fees and cost incurred in such suit at trial, appellate, bankruptcy and/or administrative proceedings. 15. —Multiple Counterparts. This Agreement may be executed in a number of identical counterparts which, taken together, shall constitute collectively one (1) agreement; but in making proof of this Agreement, it shall not be necessary to produce or account for more than one such counterpart executed by the party to be charged. 16. Date of this Agreement. This Agreement shall not be effective unless signed by both Developer and County. As used in this Agreement, the terms "date of this Agreement" or "date hereof' shall mean and refer to the date of execution of the last of Developer or County to execute this Agreement. 17. Exhibits. The following exhibits are attached to this Agreement and arc i ncorporated into this Agreement and made a part here: 18. Authority. Each party hereto represents and warrants to the other that the execution of this agreement and any other documents required or necessary to be executed pursuant to the provisions hereof are valid, binding obligations and are enforceable in accordance with their terms. 19. Conditions Precedent. The obligations of both parties to this Agreement are expressly conditioned upon the Developer's decision, at Developer's sole discretion, to proceed with the Development. IN WITNESS WHEREOF, the parties have set their hands and seals the day and year first above written. Signed, sealed and delivered in the presence of: ME THE SUNTREE PAR I NERS, by its General Partner v D 0 Approved as to form and INDIAN RIVER COUNTY Legal T 3c p, .B4e , Ac ing e,unty Attorney Evan R. Adams, Chairman v Approved; June 6. 2000 Baxton, Clerk of Court J:1ACiRlsnnlrce.cnunty-li.wpd 5118101) - 5 - Indian kiiver County Apt�r0ved pate AdnSinisirat on i ` j Budget" dC Legal Risk Manacdement Department S Divisic't _