CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Economic Development 		For Meeting of:
February 24, 2014
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Developer's Agreement regarding the payment of Transportation Impact fees for a qualifying Transit Oriented Development known as Residence Inn by Marriott
Summary:
In October of 2012 the Orlando City Council adopted a code provision allowing for a reduction in Transportation Impact Fees for qualifying development sites, to reflect the lessened traffic impacts of a Transit Oriented Development (TOD).

The Developer for Residence Inn by Marriott has submitted an application for review and approval as a designated TOD. The project consists of  hotel and retail uses, as identified in permit case BLD2013-07458, located at 672 N. Orange Avenue, in the City's North Transportation Benefit Area.

Based on the qualifying characteristics of the project, City staff shall support a 40% reduction to the Transportation Impact Fee assessment. The attached agreement outlines the qualifying criteria for the fee reduction. Following approval by the City Attorney's Office and the Orlando City Council, a reduced Transportation Impact Fee in the amount of $156,682.28 shall be due, prior to permit issuance.

Fiscal & Efficiency Data:
See attachment
Recommended Action:
Approval of the agreement in the form attached and authorization for the Mayor or Mayor Pro-Tem to execute same, subject to review and approval by the City Attorney's Office
Agenda Item attachment(s) on file in the City Clerks Office.
Note: All agenda items must be in the City Clerk's office by Noon Friday, six(6) business days prior to the regular Monday City Council meeting.
Contact: Nancy Jurus-Ottini
Approved By:

Department Date and Time
Budget Outside Routing Approval 2/12/2014 5:55 PM
City Clerk 2/13/2014 6:55 AM
ATTACHMENTS:
Name: Description: Type:
Fiscal_Impact_Statement_2-24-2014_Residence_Inn_by_Marriott.doc Fiscal Impact Statement Backup Material
EDV.Residence_Inn_By_Marriott.Trans_Impact_Fee.2-24-14.doc Residence Inn By Marriott.Trans Impact Fee.2-24-14 Backup Material
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