Agenda Item Name:
Title
Second Amendment to the State Infrastructure Bank Loan (SIB) Agreement for Celebration Pointe
End
Presenter:
Ramon Gavarrete, PE 352-548-1233
Description:
Second Amendment to the State Infrastructure Bank (SIB) Loan Agreement Between the State of Florida, Department of Transportation (FDOT), Celebration Pointe Holdings, LLC, Patricia A. Shively and Alachua County. Amendment is to adjust the agreement to take into account where Alachua County returned $187,163.75 of the $1,800,000 advanced for Construction Engineering & Inspection (CEI) services for the building of a new multi-modal bridge over Interstate 75.
Recommended Action:
Recommended Action
Approve second amendment to the SIB Loan Agreement between the State of Florida, Department of Transportation (FDOT), Celebration Pointe Holdings, LLC, Patricia A. Shively and Alachua County and authorize the Chair to execute same.
End
Prior Board Motions:
12/2/2014 - BoCC approved original SIB Loan Agreement between the State of Florida, Department of Transportation (FDOT), Celebration Pointe Holdings, LLC, Patricia A. Shively and Alachua County.
07/19/2017 - BoCC approved first amendment to SIB Loan Agreement between the State of Florida, Department of Transportation (FDOT), Celebration Pointe Holdings, LLC, Patricia A. Shively and Alachua County.
Fiscal Consideration:
Fiscal Consideration
County returned unused funds on 02/22/2019 and has fulfilled their portion of this agreement so there are no fiscal considerations with this amendment.
End
Background:
On September 9, 2014, the Board of County Commissioners (BoCC) approved the Construction and Maintenance Agreement (CMA) with FDOT and Celebration Pointe Holdings, LLC to take over operation and maintenance of SW 30th Ave Bridge after construction. The CMA also states the County will oversee and inspect the construction of the SW 30th Ave Bridge. The loan agreement allows the state to fund the cost of the CEI services that the County is obligated to provide which was estimated to be $1.8 million. On October 25, 2011, the BoCC entered into an agreement with Celebration Pointe Partners, LLC (Developer) to create a southwest transportation improvement district. This agreement state the developer will construct the SW 30th Ave Bridge (and other capital improvements) in accordance with County requirements and dedicate all right-of-way to the County upon completion of the construction. The County was obligated to credit the Developer any transportation capacity created by the new construction not needed for the development. On April 8, 2014, the BoCC entered into a separate Airspace Agreement with FDOT for the construction of the SW 30th Ave Bridge.
On June 17, 2017, the First Amendment to the Agreement was approved amending the Public User Fee Section and the SIB Security Agreement Section.