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Home My WebLink About2006-164DEVELOPER'S AGREEMENT BETWEEN INDIAN RIVER COUNTY, FLORIDA AND 510 GROUP, L.L.C. FOR BLUEWATER BAY RESIDENTIAL PLANNED DEVELOPMENT THIS AGREEMENT, entered this __&tlxlay of 2006, by and between INDIAN D4cTD r�Ort`rry DT nnrn A l:. Ld. r,L f, i pA.. n�th . C UN A i, a•a�vavLr� a po Itlt,at Snu iviSiVii G1 IIIc .State Gt rlGi Ida, 1li40 25 Street, Vero Beach, Florida, 32960, hereafter called COUNTY and 510 GROUP, L.L.C., 1974 14'h Avenue, Vero Beach, Florida 32960, telephone number (772) 567-9255, hereafter referred to as DEVELOPER. WITNESSETH WHEREAS, the DEVELOPER has applied to develop a 379 -unit residential development to be known as BLUEWATER BAY on 141.79 acres of land located on the north side of CR 510, between 90'h Avenue and 86`h Avenue in Indian River County, Project Number PD -04-10-19 (2001080013-46608), 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 construction of: 1. The east leg of the intersection of 89" Street and CR 510, aligned with 89th Street west of CR 510, accommodating the Sebastian River High School driveway and upgraded signalization at that intersection. 2. Eastbound left -turn lane and westbound right -turn lane on CR 510 at 86th Avenue. 3. Sidewalk connection to Liberty Magnet School and CR 510 sidewalk. 4. Eastbound right -turn lane at the development's 89`' Street entrance and southbound left -turn lane on CR 510 at 89'h Street. 5. Five-foot (5') sidewalks along the development's CR 510, 89th Street and 86'h Avenue frontages together with connections to the development's internal four -foot (4') sidewalk system. WHEREAS, if the COUNTY project to widen CR 510 from 2 -lanes to 4 -lanes is approved and scheduled to commence construction prior to January 1, 2008, then the DEVELOPER is not required to construct CR 510 widening or associated above turn lanes; and 1 WHEREAS, the COUNTY is planning future improvements to CR 510 and the DEVELOPER is planning to sell the necessary right-of-way to the COUNTY and agrees to execute the document as outlined in the Attached "Exhibit "B" for future Indian River County construction of the intersection of CR 5 10 and 90th Avenue; and WHEREAS, the DEVELOPER is planning to accommodate storm water runoff from CR 510, 89th Street and 86th Avenue; and V{IIT�Ti Or A C T+nfri the r.OUNTV and? DEVEr OPUR ,........... ti ll L Gw L t through, A " .� 1.. Cll...atua.,y benefit each other a joint effort that will share the costs of improvements to the following intersections: 1. CR 510 and 66`h Avenue 2. CR 510 and U.S. 1 3. 41St Street and 66th Avenue, including signalization 4. 65th Street and 58 h Avenue, including signalization; and WHEREAS, both the COUNTY and DEVELOPER can mutually benefit each other through a joint effort that will provide for future roadway and drainage 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. 2. This agreement does not cover all dedications and off-site improvements required of the developer as a result of the planned development approval. 3. The parties agree that the DEVELOPER shall construct the following improvements pursuant to this agreement: A. In the event that the COUNTY does not begin the CR 510 improvements until after January 1, 2008, the DEVELOPER shall construct the eastbound left -turn lane and westbound right -turn lane on CR 510 at 86`h Avenue prior to issuance of the 95h residential unit certificate of occupancy. If the COUNTY begins the CR 510 improvements on or before January 1, 2008, the COUNTY shall build the turn lanes and the DEVELOPER shall remit payment to the COUNTY for the total construction costs of the turn lanes. B. The DEVELOPER shall pave 86th Avenue from CR 510 north to 89th Street, and 89th Street from 86th Avenue west to 901h Avenue/CR 510 prior to issuance of the 190'h residential unit certificate of occupancy. 86th Avenue shall be constructed as a 3 -lane roadway. The 89th Street paving shall include a 3 -lane bridge crossing the Lateral D canal and connecting to 90`h Avenue/CR 510. If a 4 -lane (or wider) bridge across the Lateral D canal is required by the COUNTY, then the COUNTY shall pay for the bridge construction costs over and above a 3 -lane bridge. The COUNTY shall approve all bridge designs and cost estimates. The bridge shall align with the south signalized entrance to Sebastian River High School or 89`h Street as determined by the COUNTY. If aligned with 89`' Street, the improvements shall include signalization. The DEVELOPER agrees to install and maintain sod, landscape and irrigation to the edge of the pavement in these roadways. The COUNTY agrees to maintain the pavement. C. Five-foot (5') wide sidewalk along the development's CR 510 frontage: i. The DEVELOPER shall construct a five-foot wide sidewalk connection from the development's internal sidewalk system to CR 510 across from Liberty Magnet School. ii. At the COUNTY's sole discretion and with COUNTY approval, the DEVELOPER may escrow the sidewalk construction cost with the COUNTY in lieu of constructing the sidewalks. 4. Approximately 3.04 acres of DEVELOPER's property will be needed by the COUNTY to widen CR 510 in the future. The DEVELOPER agrees to sell the needed property to the COUNTY for the price of $475,000 ($156,250 per acre). The COUNTY shall remit payment to the DEVELOPER within 30 days of execution of this agreement, at which time the DEVELOPER shall deed the 3.04 acres to the COUNTY. 5. The DEVELOPER agrees to accept, treat and dispose of storm water runoff from the public roads CR 510 (both 85`h Street and 90"h Avenue alignments), 86'h Avenue, and 89`h Street along the development boundaries. The DEVELOPER agrees to maintain the storm water management system. 6. Findings from the traffic impact study performed by the DEVELOPER's engineer and confirmed by COUNTY staff indicate that development traffic will impact the following four intersections as tabulated. COUNTY staff confirmed the corresponding project costs. PROJECT PERCENT DEVELOPER COST FAIR SHARE ILIESTIMATE ESTIMATE IMPACT COST nue $3,480,000 790 % $ 274,920 $2,900,000 1.46% $ 42340 venue $2,726,515 1.88 % $ 51,258 65` Street and 58 Avenue $673,638 3.18 % $ 21,422 TOTAL= $ 389.940 Given the percentage of impact to the intersections by the development, the DEVELOPER shall pay to the COUNTY the sum of $389,940 representing fair share contributions toward the cost of future improvements at all four intersections. The nFVE,r_nnEP shall pay he dvcl qAn. .i) !+(1f�iT[7_ r suLii G. 0. 0 - U W Ll e �.V \ 1 1 pr1or to Issuance of the first certificate of occupancy for any portion of the development. No impact fee credits will be allowed as a result of this contribution. In the event of any litigation arising out of this Agreement, the prevailing party shall pay attorney fees and costs. 8. 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. 9. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors, and assigns. 10. 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. 11. 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. 12. 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. 13. 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. 14. COUNTY and DEVELOPER shall grant such further assurances 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. 15. 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. 16. 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. 17 The ivordes bnre1n and hereof and v✓ords of simliar JMFVi , Wluio U reference to an'y' particular section or subdivision of this Agreement, refer to this Agreement as a whole rather than to any particular section or subdivision hereof. 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 caused these presents to be executed in their names, the day and year first above written. rsl"I :n ATTEST: Jeffrey K. Barton, Clerk of Circuit Court Deputy Clerk Approved as to orm an L ffciency: illiam G. ollins , County Attorney Jose aird, County Administrato DEVELOPER 510 GROUP, L:.C. t n(� (Signature) Ivtaik A =Brackett, Manager , (Printed name and title) Witnessed by: ` Q t d 4(Printed name) 0` ✓ e �,-- r t -K r y*,i, EXHIBIT "A" BLUEWATER BAY LEGAL DESCRIPTION PARCEL l: THE EAST 89.19 OF THE SOUTHWEST '/ OF SECTION 26. TOWNSHIP 31 SOUTH, RANGE 38 EAST. SAID PARCEL LYING SAND BEING IN INDIAN RIVER COUNTY, FLORIDA. LESS RIGHTS OF WAY AND EASEMENTS OF RECORD. PARCEL 2: THE WEST 38.31 ACRES OF THE EAST 127.5 ACRES OF THE SOUTHWEST'/ OF SECTION 26, TOWNSHIP31 SOUTH, RANGE 38 EAST. SAID PARCEL, LYING SAND BEING IN INDIAN RIVER COUNTY. FLORIDA, LESS RIGHTS OF WAY AND EASEMENTS OF RECORD. PARCEL 3: THE WEST 17.60 ACRES OF THE EAST 145.1 ACRES OF THE SOUTHWEST 'A OF SECTION 26, TOWNSHIP 31 SOUTH, RANGE 38 EAST. SAID PARCEL LYING AND BEING IN INDIAN RIVER COUNTY, FLORIDA. LESS RIGHTS OF WAY AND EASEMENTS OF RECORD. EXHIBIT "B" Sketch and legal description, right-of-way purchase ;i I I Fxlsr 10 LF R/W 510 i r II I O Iv Ln * !n ml 1 CO I BQ LF 150 LFA - - - _____p W------ I I i r r t 1 � C I O � I z � 1Aoil �I sII li Ao 5p !�I oml I rm p J {ZDmNO A D O I X o m o p A O Z m 0 1 [yLl�j O y m I ji 0 0 2 Ii -m -11L -=I �nSON nzo tiz F- -A_ �� 11 K n� 0 0 A 2 A K m 0➢ 0 0 -G m D O N C D I Il,r I Monro 0 d I zoami`-znm ioozSm�'^om �m u zm�z`?N�oma Pn z nom nzz p=�nAm�"o IIA p ti I - I I - A000�lr'1➢OOC1 VlOOOm➢y I I^ I ml O➢mb_ OQO(70 nI�0000mZ0 II O�_O 01 OI m�000m SmZ mm➢GIOm - A p C I N oIT,!m�I mCWG> Cm IIIFKol0 T ATO DO>f0=0 -m mm _ O Ln O➢ m y A O D O p `loA 1 A > SDA➢gym m on �� p mj-mtiz>�u�oT �mz mi mm av0 L �Cjtil �KO� Op -➢G -�OmO u �I n �a nZmon Aon`"�Fo ooh -opo of I m zoofoi��mio ;n?o �x tl 1 o ATA oa orj m� N 1 m m e .__-.�> JIB 1 I oo�ioo FzznN� mc--ia�no .-<-_Yc> I n2� SminpO Zmlzl ON �� f ,I/� =monmomNNoo� mA nn�o O D m O G1 ZOFT A of I i I I I e 1 I pl .I 1 I I I �"IO ISI I ro oI I n r I 1 9 MATCH LINE SEE PLAN BELOW "a \Y P.D. CORNER CLIP LEGAL DESCRIPTION