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7.b.

FPRA Regular Meeting

Meeting Date:: 11/14/2023
Re: Oaks at Moore's Creek Phase II Second Amendment to Development Agreement
Submitted For:: Audria Moore-Wells

SUBJECT:

Approval of the Second Amendment to the Development Agreement for Oaks at Moore's Creek Phase II.

SUMMARY:

This Second Amendment amends the Agreement for Development of Oaks at Moore's Creek executed by and between OMCII, LLC (formerly Stuart & Shelby Development, Inc. and East to West Development Corporation) and Fort Pierce Redevelopment Agency on June 8, 2021. In the amendment the FPRA certifies to the Developer

that all “INFRASTRUCTURE Improvements” (as that term is defined in the First Amendment) for the Project, have been constructed and installed by the City, and are fully completed in strict accordance with their approved plans and specifications, and building codes, regulations, and Applicable Laws.
the Project Replat known as “The Oaks at Moore’s Creek II” has been recorded in Plat Book 109, at Page 20, of the Public Records of St. Lucie County, Florida.
the Closing of the Property shall occur on or before November 30, 2023, provided all conditions of Closing under Sections 4.4 and 4.5 of the Development Agreement, as modified by the First Amendment, are satisfied by the applicable party (or waived by Developer) by that date.

RECOMMENDATION:

Approve the Second Amendment to the Development Agreement for Oaks at Moore's Creek Phase II.

ALTERNATIVES:

Deny or revise the Second Amendment to the Oaks at Moore's Creek Phase II Development Agreement.

RESPONSIBLE STAFF:

Audria Moore-Wells, Special Projects Coordinator

COORDINATED WITH:

Nicholas C. Mimms, P.E., ICMA-CM, City Manager
Sara Hedges, City Attorney
Attorney Kaylee Tuck, GrayRobinson, P.A.
OMCII LLC, Developer
Attorney Michael Flam

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