CRA 12/12/2013 Minutes - Laserfiche WebLink

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Community Redevelopment Agency December 12, 2013 Page 3 of 8 realignment of Triplet Lake Drive would add significant cost to the project; however, the cost to relocate the Public Works Department would be eliminated. Mr. Newlon said the reconstruction of the road is a road project and City Government is responsible for that cost. Mr. Newlon said the City Commission met with developers at a workshop on December 2, 2013. He said the Commissioners presented to the developers the concerns that existed within the acquisition agreement and the developers agreed to amend the contract. He said a new contract will be coming back to the City Commission on January 13, 2014. He said we now have a majority of the Commissioners on board for the project. Mr. Newlon said that the new concept will be substituted for the site plan. He said to accomplish this the City needs to vet this concept and the City Commission has engaged ACi to take this design to 30% level plans to ensure the design will work and to determine the costs. He said the cost will need to be incorporated into the project. He said that the cost will be very significant and the developers cannot be expected to cover those costs. He said the developers have agreed to commit some money but that amount has not been determined at this time. He said at the workshop the developers also agreed to share in the cost of the road redevelopment. Mr. Newlon requested the CRA share in the cost of the ACi work. He said the City is committed in a contract with ACi for $60,000. He said most of that cost is for engineering and landscape planning. Mr. Newlon requested $30,000 from the Board. Mr. Newlon said staff is very supportive of the extension of the CRA's term. He said we have a chance to lock in this project and we need to demonstrate to Seminole County Commission that the work of the City's CRA over the past 20 years has been validated. He said this project will be the catalyst to bring attention to the entire corridor. He said we are looking for more development to come and more energy and excitement when this project breaks ground. He said the City needs help paying for this road. He said the cost will be very significant. Mr. Newlon said that the City has reserves but they are spoken for such as acquiring the golf course and other projects that are still in the pipeline. Mr. Newlon said he may be coming back to the CRA to request they commit significant resources to complete this development on the corridor.