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Contract 2019-31A WATER, WASTEWATER & REUSE SERVICE AGREEMENT This document constitutes an agreement between the City of Clermont, herein referred to as CITY, a Florida Municipal Corporation, Clonts Groves, Inc., a Florida Corporation and its successors or assigns, herein referred to as OWNER and Olympus Sports and Entertainment Group, LLC, and its successors and assigns, herein referred to as DEVELOPER. WITNESSETH Whereas, OWNER owns approximately 247.37 +/- acres of real property (the "Property") described on Exhibit 'A', attached hereto and by this reference made a part hereof; and Whereas, the Property is located in the unincorporated area of Lake County and the OWNER is requesting water, sewer and reuse/irrigation water service ("Service") from the CITY; and Whereas, OWNER has agreed to sell the Property for future development to DEVELOPER; and Whereas, upon completion of the sales transaction, the DEVELOPER, is proposing to develop a mixed-use project consisting of 247.37 +/- acres; and Whereas, as a condition of CITY providing said Service to the Property, DEVELOPER shall extend Service lines to serve the Property and lines and appurtenances must be sized and constructed in accordance with the minimum requirements of CITY Land Development Regulations to meet the flow demands for the improvements to be constructed on the Property; and Whereas, it is anticipated that the lines and appurtenances referred to above, may also be available for other property owners or developers that will use any capacity from the improvements (the`Benefitted Property Owners"); and Whereas, to the extent that the above-referenced lines and appurtenances create additional transmission service capacity the CITY agrees to participate and facilitate an agreement with the DEVELOPER or a community development district incorporating the Property (hereinafter referred to as the "CDD") and the Benefitted Property Owners, for purposes of reimbursement from and/or proportionate share payments from the Benefitted Property Owners to the DEVELOPER for construction of the improvements; and Whereas, as a condition of the provision of Services to the Property by the CITY, OWNER agrees that this Agreement shall constitute an unconditional application to annex the Property into the City of Clermont, if CITY chooses to do so; and Whereas, OWNER, DEVELOPER and CITY are entering into this Agreement to set forth the terms and conditions under which water and sewer service shall be provided, extended and sized. NOW THEREFORE, in consideration of the mutual promises and covenants hereinafter contained, the parties do hereby agree as follows: Section 1. OFF-SITE WATER/SEWER/REUSE — Each and all of the foregoing premises are 1 incorporated into and constitute a part of this Agreement. 1.1 CITY shall provide Services for the Property. 1.2 OWNER, DEVELOPER OR CDD shall connect to the existing City system at connection point or points as mutually agreed to by the parties. 1.3 The route of any off site lines shall be according to engineering plans produced by DEVELOPER and approved by the CITY. 1.4 The DEVELOPER or the CDD shall construct the facilities, lines and appurtenances necessary to serve the development and provide such documentation necessary for the CITY to ascertain that the lines shall meet the minimum line size requirements as specified by the CITY Land Development Regulations. To the extent that any such facilities, lines and appurtenances constructed by DEVELOPER or the CDD shall provide an opportunity to CITY for CITY to connect additional water, sewer and/or reuse customers to CITY's existing system, the parties agree to negotiate a future agreement that would enable the DEVELOPER or CDD to recover a portion of the expenses from future customers connecting to the facilities, lines and appurtenances constructed by DEVELOPER of the CDD. The agreement shall be referred to as a Proportionate Share Contribution Agreement, with each Benefitted Parties' contribution being determined based on its expected use of the water and sewer service, and may contain such other terms related to the proposed development as the parties may agree are reasonable and necessary for the development of the project consistent with and as generally described in Section 2 below. 1.5 CITY recognizes that based on the initial plans for the development of the Property it is anticipated that DEVELOPER will construct,or caused to be constructed, certain water and sewer improvements that will result in the creation of additional transmission capacity for CITY's water and sewer system to serve the Benefitted Property Owners. Contemporaneously with the approval by the CITY of plans in such sufficient detail as the CITY can determine the extent of the additional transmission capacity created hereunder, CITY and DEVELOPER agree that they will enter into a reimbursement agreement utilizing the transmission portion of future water and sewer impact fee credits equal to TWENTY-EIGHT PERCENT (28%) of the total water and sewer impact fee as determined at the time of building permit application in accordance with the CITY's then current Impact Fee Ordinance. 1.6 The DEVELOPER or CDD shall be responsible for the construction of all required on site and off site lines and appurtenances to serve the project and as set forth in the approved plans for the project. No building permits shall be issued until Services are provided to the site or until a bond or letter of credit, acceptable to CITY, is in place to guarantee completion of improvements. No Certificate of Occupancy shall be issued until Service extensions have been completed and accepted by the CITY. 1.7 The DEVELOPER or CDD shall be responsible for all costs of on site and off site improvements, including but not limited to design, material, easement or property acquisition, permitting and installation or construction of sufficient size lines, lift stations and other appurtenances necessary to allow the CITY to serve the Property. 2 1.8 As part of the anticipated agreements related to reimbursement through impact fee credits by CITY or proportionate share contribution from the Benefitted Properties the DEVELOPER or the CDD shall provide in advance to the CITY a cost estimate for the improvements. The cost estimate or estimates shall be a contractors bid amount as certified by DEVELOPER's or the CDD's project engineer and reviewed and approved by CITY, hereinafter the "Cost of Improvements". The Cost of Improvements may include design fees, survey engineering fees, easement acquisition costs (not including attorney fees) and estimated construction costs. In any of the referenced agreements wherein the CITY shall be participating through impact fee credits the CITY's contribution shall be limited to and not exceed, the applicable percentage of the total agreed upon Cost of Improvements, not including the cost of improvements required to serve the Project as determined by the CITY Land Development Code. 1.9 The Impact Fee Credits contemplated herein to be implemented by a future agreement, shall be established subject hereto and at the time of issuance of each building permit by applying the then current dollar amount of the impact fee, which shall be deducted from the Impact Fee Credit balance until all credit is used. In no event shall DEVELOPER or the CDD be entitled to Impact Fee Credits related to treatment capacity for the CITY's water and sewer system. 1.10 Upon prior notice to CITY, Impact Fee Credits may be transferred to any development within the Wellness Way area and within the CITY's water and sewer servie area. Section 2. DEVELOPMENT STANDARDS The project shall be developed according to the CITY Land Development Regulations unless otherwise stipulated in this Agreement and within the City of Clermont water and sewer utility service area or as may be amended in accordance with the CITY Code. This agreement is based upon the anticipation that the site will be developed with 530 dwelling units, 120,393 square feet of office space, 161,163 square feet of retail space, 345,283 square feet of medical office space, and 537 hotel rooms Section 3. ANNEXATION OWNER agrees that CITY may annex the Property into the City of Clermont if CITY, in its sole discretion, chooses to do so. In conjunction herewith, OWNER shall provide to CITY a Notice of Encumbrance to Annex Property in a form substantially in compliance with the form set forth in Exhibit"B", attached hereto and incorporated herein. The CITY shall record this Notice in the public records of Lake County whereupon it is agreed it shall serve as an enforceable encumbrance on the Property and shall constitute an irrevocable application by the OWNER to annex the property described in Exhibit 'A', which right to annex the City may exercise at any time. The Notice of Encumbrance shall be executed by all owners of the real property described in Exhibit "A" and shall be accompanied, at DEVELOPER'S expense, by a current certificate of title or opinion letter acceptable to CITY and issued by a licensed title company or attorney identifying all owners in interest of the Property. Prior to the completion of the Annexation any transfers of ownership of the Property by OWNER shall contain a deed restriction or covenant noting the existence of this encumbrance to annex, such restriction to be recorded as a covenant to run with the land. 3 Section 4. SEVERABILITY In the event that any provision of this agreement shall be held invalid or unenforceable, the provision shall be deleted from this agreement without affecting in any respect whatsoever the validity of the remainder of this agreement. Section 5.NOTICES All notices, demands, or other writings required to be given or made or sent in this Agreement, or which may be given or made or sent, by either party to the other, shall be deemed to have been fully given or made or sent when in writing and addressed as follows: CITY OWNER City of Clermont Clonts Groves, Inc. City Manager W. Rex Clonts,Jr.,President P.O. Box 120219 1001 Geneva Drive Clermont, Fl 34712-0219 Oviedo, FL 32765 Copy to: Copy to: Daniel F Mantzaris, Esq. Cecelia Bonifay, Esq. City Attorney Attorney for Clonts Grove, Inc. City of Clermont, Florida Akerman, LLP 332 N. Magnolia Avenue 470 S. Orange Ave Orlando, FL 32801 Orlando, FL 32801 Facsimile No.: (407)992-3541 Facsimile No.: DEVELOPER Olympus Sports&Entertainment Group, Inc. Attention: Michael J. Carroll, Sr.,Manager 1520 Blue Grass Boulevard Deland, FL 32724 Facsimile No.: Copy to: Shuns&Bowen LLP Attention: Daniel T. O'Keefe, Esq. 300 S. Orange Avenue, Suite 1600 Orlando, FL 32801 Facsimile No.: (407) 835-6956 Section 7. CHOICE OF LAW AND VENUE. Florida law shall govern the interpretation and enforcement of this Agreement. In any action or proceeding required to enforce or interpret the terms of this Agreement, venue shall be in Lake 4 County, Florida. Section 8. CONSTRUCTION OF THE AGREEMENT. This Agreement is the result of negotiations among the Parties, such that the Parties have contributed substantially and materially to the preparation of this Agreement. Accordingly, this Agreement shall not be construed more strictly against one Party than against another Party. Section 9. CAPTIONS. The headings or captions for the Paragraphs and Subparagraphs contained in this Agreement are used for convenience and reference only, and do not, in themselves, have any legal significance. Section 10. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which, taken together, shall constitute one and the same document. Section 11. NO WAIVER OF REGULATORY AUTHORITY. The OWNER and DEVELOPER acknowledge that nothing in this Agreement constitutes or is intended to operate as a waiver of the CITY's regulatory authority or the application of any applicable laws, rules or regulations. Furthermore, nothing in this Agreement operates to vest development of the Property, except, as specifically provided herein. Section 12. PUBLIC RECORDS. The DEVELOPER shall allow public access to all documents, papers, letters or other materials subject to the provisions of Section 119.0701, Florida Statutes, and which have been made or received by the Developer in conjunction with this Agreement. Section 13. DISCLAIMER OF THIRD PARTY BENEFICIARIES. No right or cause of action shall accrue upon or by reason of this Agreement, to or for the benefit of any third party not a formal party hereto, except any successors in interest of the Developer or the City. Section 14. AMENDMENTS Any amendment to this agreement is not effective unless the amendment is in writing and signed by all parties. Section 15. ASSIGNMENT. The terms and conditions contained herein may be assigned by the OWNER and/or DEVELOPER to a community development district created in accordance with applicable Law by the City of Clermont. {Remainder of Page Intentionally Left Blank) 5 I Section 16. EFFECTIVE DATE The effective date of this agreement shall be the date that the last party to executes it as set forth below. IN WITNESS WHEREOF, the parties hereto have made and executed this Agreement on the dates listed below. I till" DATED this 1 day of N , 2019. CITY OF CLERMONT ATTEST. or•-/ 1.� Gail L Ash, Mayor Tracy Ackroyd Howe, City Clerk Date: ('nCLLt �}. 201 OWNER • W. Rex Clonts, , P esident Date: /,` ';W STATE OF FLORIDA COUNTY OF LAKE I HEREBY CERTIFY that on this day, before me, an officer duly authorized to administer oaths and take acknowledgments, personally appeared W. Rex Clonts, Jr., as President of Clonts Groves, Inc., who provided identification in the form of or who is personally known to be the person described in and who executed the foregoing, and that he acknowledged before me that he executed the same. Witness my hand and official seal t ii:,_ , 2019. y MYP DANIEL F.MANWIS N MITIFFEl� * *MY COMMISSION M FF 982157 '40 o4* EXPIRES:July 2,2020 bE n Bonded Thu Budget Nobly Santee {Signatures Continued on Next Page} 6 DEVELOPER /1.,e;10101 •-c ae J. Ca••, Manager Date: Sirl/. STATE OF FLORIDA COUNTY OF LAKE I HEREBY CERTIFY that on this day, before me, an officer duly authorized to administer oaths and take acknowledgments, personally appeared Michael J. Carroll, Sr., as President of Olympus Sports & Entertainment Group, Inc. who provided identification in the form of or who is personally known to be the person described in and who executed the foregoing, and that he acknowledged before me that he executed the same. It Witness my hand and official seal this I 1 day of 6 , 2019_. • 00,4N, tYAMItt RAtqtratiS Nota ' • • Ic #16 a kV COMMISSION./FF 4#, / EXPIRES:.kMy 2.2020 ®,Pv Bond•d Theu Budget tion 7 Exhibit"A"to Water, Wastewater&Reuse Agreement Legal Description: ALL OF TRACTS 47, 50, 51, 52, 53, 59, 60, 61, 62, AND 63, A PORTION OF TRACTS 33, 34, 35, 41, 45, 46, 48, 49, 54, 55, 58 AND 64, A PORTION OF THAT CERTAIN UN- IMPROVED 30.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACTS 41, 44- 46, 48 AND THOSE CERTAIN UN-IMPROVED 30.00 FOOT PLATTED RIGHT OF WAYS LYING SOUTH OF TRACT 47 AND WEST OF TRACTS 52 AND 61, THAT CERTAIN UN- IMPROVED 15.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACTS 59 - 63 AND A PORTION OF THAT CERTAIN UN-IMPROVED 15.00 FOOT PLATTED RIGHT OF WAY LYING SOUTH OF TRACT 58 AND EAST OF U.S. HIGHWAY 27, ALSO A PORTION OF SAID RIGHT OF WAY LYING SOUTH OF TRACT 64 AND WEST OF SCHOFIELD ROAD; SAID TRACTS AND UN-IMPROVED RIGHTS OF WAY LYING WITHIN THE PLAT OF MONTE VISTA PARK FARMS, AS RECORDED IN PLAT BOOK 2, PAGE 27, PUBLIC RECORDS OF LAKE COUNTY, FLORIDA, LYING EAST OF US HIGHWAY 27, SOUTH AND WEST OF SCHOFIELD ROAD IN SECTION 21 TOWNSHIP 23 SOUTH, RANGE 26 EAST. TOGETHER WITH: A PORTION OF THE NORTH 1/2 OF SECTION 28, TOWNSHIP 23 SOUTH, RANGE 26 EAST, LAKE COUNTY, FLORIDA, LYING EAST OF US HIGHWAY 27 AND WEST OF SCHOFIELD ROAD. SAID LANDS BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCE AT THE NORTHEAST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 28; THENCE S89°14'48"W ALONG THE NORTH LINE OF THE NORTHEAST 1/4 OF SAID SECTION 28, A DISTANCE OF 40.00 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF SCHOFIELD ROAD AND THE POINT OF BEGINNING; THENCE S00°01'04"E ALONG SAID WEST RIGHT OF WAY LINE, A DISTANCE OF 931.06 FEET; THENCE N89°42'25"W, A DISTANCE OF 1573.58 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 690.00 FEET, A CENTRAL ANGLE OF 37°01'49", A CHORD BEARING OF N71°09'08"W AND A CHORD DISTANCE OF 438.22 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 445.95 FEET TO A POINT OF TANGENCY ; THENCE N52°38'14"W, A DISTANCE OF 141.27 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 210.00 FEET, A CENTRAL ANGLE OF 37°11'05", A CHORD BEARING OF N71°13'47"W AND A CHORD DISTANCE OF 133.91 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 136.29 FEET TO A POINT OF TANGENCY; THENCE N89°49'20"W, A DISTANCE OF 402.76 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 90.00 FEET, A CENTRAL ANGLE OF 122°26'41", A CHORD BEARING OF N89°57'14"W AND A CHORD DISTANCE OF 157.77 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 192.34 FEET TO A POINT OF NON TANGENCY; THENCE N90°00'00"W, A DISTANCE OF 401.32 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE SOUTHERLY, HAVING A RADIUS OF 210.00 FEET, A CENTRAL ANGLE OF 36°34'07", A CHORD BEARING OF S71°42'56"W AND A CHORD DISTANCE OF 131.77 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 134.03 FEET TO A POINT OF TANGENCY; THENCE S53°25'53"W, A DISTANCE OF 138.26 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE NORTHERLY, HAVING A RADIUS OF 700.81 FEET, A CENTRAL ANGLE OF 36°26'20", A CHORD BEARING OF S71°56'47"W AND A CHORD DISTANCE OF 438.22 FEET; THENCE WESTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 445.70 FEET TO A POINT OF TANGENCY; THENCE N89°50'03"W, A DISTANCE OF 309.89 FEET TO A POINT ON THE EASTERLY RIGHT OF WAY LINE OF US HIGHWAY 27 ALSO KNOWN AS STATE ROAD 25 (VARIABLE RIGHT OF WAY PER FLORIDA DEPARTMENT OF TRANSPORTATION RIGHT OF WAY MAP FP NO. 238422 1 DATED NOVEMBER 8, 2005); THENCE RUN ALONG SAID EASTERLY RIGHT OF WAY LINE THE FOLLOWING TEN (10) COURSE AND DISTANCES; N01°26'21"E, A DISTANCE OF 243.71 FEET; THENCE S88°33'39"E, A DISTANCE OF 172.00 FEET; THENCE N01°26'21"E, A DISTANCE OF 130.09 FEET TO THE POINT OF CURVATURE OF A CURVE CONCAVE EASTERLY, HAVING A RADIUS OF 5426.57 FEET, A CENTRAL ANGLE OF 03°25'59", A CHORD BEARING OF NO3°09'20"E AND A CHORD DISTANCE OF 325.11 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 325.16 FEET TO THE END OF SAID CURVE; THENCE N89°59'56"W, A DISTANCE OF 172.60 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5598.79 FEET, A CENTRAL ANGLE OF 10°19'04", A CHORD BEARING OF N09°52'52"E AND A CHORD DISTANCE OF 1006.87 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 1008.24 FEET TO THE END OF SAID CURVE; THENCE S74°57'37"E, A DISTANCE OF 10.00 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5588.79 FEET, A CENTRAL ANGLE OF 05°31'44", A CHORD BEARING OF N17°48'16"E AND A CHORD DISTANCE OF 539.10 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 539.31 FEET TO THE END OF SAID CURVE; THENCE S69°25'52"E, A DISTANCE OF 9.78 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE EASTERLY, HAVING A RADIUS OF 5579.01 FEET, A CENTRAL ANGLE OF 02°25'19", A CHORD BEARING OF N21°46'48"E AND A CHORD DISTANCE OF 235.82 FEET; THENCE NORTHERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 235.84 FEET TO THE END OF SAID CURVE; THENCE DEPARTING SAID EASTERLY RIGHT OF WAY LINE RUN S67°38'24"E, A DISTANCE OF 469.15 FEET; THENCE S89°50'54"E, A DISTANCE OF 664.70 FEET TO A POINT ON A NON-TANGENT CURVE, CONCAVE SOUTHERLY, HAVING A RADIUS OF 90.00 FEET, A CENTRAL ANGLE OF 120°00'00", A CHORD BEARING OF S89°52'26"E AND A CHORD DISTANCE OF 155.88 FEET; THENCE EASTERLY ALONG THE ARC OF SAID CURVE A DISTANCE OF 188.50 FEET TO THE END OF SAID CURVE; THENCE S89°54'20"E, A DISTANCE OF 724.09 FEET; THENCE NOO°06'56"E, A DISTANCE OF 771.53 FEET; THENCE S89°53'03"E, A DISTANCE OF 297.15 FEET; THENCE N44°56'39"E, A DISTANCE OF 56.40 FEET; THENCE N00°13'39"W, A DISTANCE OF 433.99 FEET TO THE SOUTH RIGHT OF WAY LINE SCHOFIELD ROAD; THENCE RUN EASTERLY AND SOUTHERLY ALONG SAID RIGHT OF WAY THE FOLLOWING THREE (3) COURSES: THENCE N89°30'42"E, A DISTANCE OF 1304.07 FEET; THENCE S50°10'00"E, A DISTANCE OF 102.97 FEET; THENCE S00°23'52"W, A DISTANCE OF 2510.57 FEET TO THE POINT OF BEGINNING. CONTAINING: 10,612,604 SQUARE FEET OR 243.63 ACRES MORE OR LESS.