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Agenda Item # 11.d.
City Commission Regular Meeting - 5:05 pm
Meeting Date:
06/20/2023
Re
Development Agreement for Infill Lien Reduction Program - 801 Avenue B
Submitted For:
Shyanne Harnage

SUBJECT:

Approval of Infill Lien Reduction Program Development Agreement with Shores Pad, LLC, Owner of 801 Avenue B.

SUMMARY:

Established by Resolution 22-R16 in March 2022, the Infill Lien Reduction Program promotes reinvestment and revitalization of vacant infill property by providing the property owner reasonable relief from liens levied prior to their ownership in exchange for the development of that vacant parcel. To be eligible for the program, the property must be an infill vacant lot within the city limits of Fort Pierce with no active code enforcement or nuisance abatement cases against it. The applicant must also affirm that they were not an owner or affiliated in any way with the property at the time the liens were originally recorded. Via development agreement, the City will waive all soft costs associated with the liens and provide a 50% refund of the hard costs paid. 

The terms of the agreement are as follows:
  1. Property owner must pay in full the hard costs associated with the liens in the amount of $12,113.00 at the time of issuance of a building permit or within 365 days of the Effective Date, whichever is sooner.
  2. Once hard costs are paid, the City will waive, release, satisfy or rescind the liens in the amount of $77,050.08.
  3. Upon issuance of the Certificate of Occupancy, the City shall issue a refund to the property owner for fifty percent of the hard costs paid in the amount of $6,056.50.

RECOMMENDATION:

Approve Infill Lien Reduction Program Development Agreement for 801 Avenue B.

ALTERNATIVES:

Staff will proceed as directed by the City Commission.

RESPONSIBLE STAFF:

Shyanne Harnage, Economic Development Manager

COORDINATED WITH:

Community Response/Code Enforcement
City Attorney's Office

Fiscal Impact

Budgeted Y/N:
N
Fiscal Year:
2023
Account:
N/A
Amount:
See below

FISCAL IMPACT:

$89,163.08 TOTAL LIENS
$12,113.00 TOTAL HARD COSTS
$77,050.08 TOTAL SOFT COSTS

$77,050.08 AMOUNT WAIVED
$12,113.00 AMOUNT OWED
$6,056.50 AMOUNT REFUNDED AT C/O

Attachments

Form Review

Inbox Reviewed By Date
City Manager Nick Mimms 06/03/2023 01:26 PM
Finance Department Johnna Morris 06/12/2023 09:41 AM
City Manager Nick Mimms 06/13/2023 02:51 PM
Form Started By:
Shyanne Harnage
Started On:
05/30/2023 07:38 AM
Final Approval Date:
06/13/2023