21-3271 - Termination of Voluntary Development Commitment Agreement - Nieuport Partners II, LLC

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RESOLUTION 21-3271 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AUTHORIZING WRITTEN TERMINATION OF THE VOLUNTARY DEVELOPMENT COMMITMENT AGREEMENT WITH NIEUPORT PARTNERS II, LLC; PROVIDING FOR CONFLICTS, SEVERABILITY, AND AN EFFECTIVE DATE. WHEREAS, the City of Casselberry (City) and Nieuport Partners II, LLC (Developer) entered into the Voluntary Development Commitment Agreement dated September 23, 2013, and recorded on August 1, 2018, in O.R. Book 9182, Page 706-739, and re-recorded August 2, 2018, in O.R. Book 9182, Page 1599-1612, Public Records of Seminole County, Florida (hereinafter "Agreement"); and WHEREAS, a portion of the Property included in the Agreement is owned by the City; and WHEREAS, Paragraph 25 of the Agreement states: "25. TERMINATION. The City shall have the unconditional right, but no obligation, to terminate this Agreement, without notice or penalty, if Developer fails to receive building permits and substantially commence construction of the Project within three (3) years of the Effective Date of this Agreement. If the City terminates this Agreement, the City shall record a notice of termination in the public records of Seminole County, Florida."; and WHEREAS, the Developer has not received building permits or substantially commenced construction of the Project as of today's date, which is eight (8) years from the Effective Date of the Agreement; and WHEREAS, the City Commission of the City of Casselberry, Florida, has determined that it is warranted to exercise the City's unconditional right to terminate the Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF CASSELBERRY, FLORIDA, AS FOLLOWS: SECTION I. The City Commission of the City of Casselberry hereby authorizes the Mayor to execute the Notice of Termination of Voluntary Development Commitment Agreement, attached herewith, and record said Notice in the public records of Seminole County, Florida, in accordance with Paragraph 25 of the Agreement. SECTION II. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the provisions of this Resolution are hereby repealed. SECTION III. Severability. If any Section or portion of a Section of this Resolution proves to be invalid, unlawful, or unconstitutional, it shall not be held to invalidate or impair the validity, force, or effect of any other Section or part of this Resolution. SECTION IV. Effective Date. This Resolution shall become effective immediately upon its passage and adoption.