CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Economic Development 		For Meeting of:
October 19, 2015
District: 4 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
A Developer's Agreement regarding the payment of Transportation Impact Fees for a qualifying Transit Oriented Development known as Citi Tower at Eola Park, located at 101 Lake Avenue
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 Citi Tower at Eola Park has submitted an application for review and approval as a designated TOD. The project consists of multi-family residential and office uses, as identified in permit case BLD2015-05751, located at 101 Lake Avenue, in the City's North Transportation Benefit Area.

 

Based on the qualifying characteristics of the project, City staff shall support a 25% 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 $75,915.10 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 10/7/2015 4:28 PM
City Clerk 10/8/2015 7:35 AM
ATTACHMENTS:
Name: Description: Type:
East_SDG_CITITOWER__LLC.Trans.Imp.Fee.Agr._9-2015[1].doc East SDG Cititower, LLC Agreement Backup Material
Fiscal_Impact_Statement_10-19-2015_Citi_Tower_at_Eola_Park.doc Fiscal Impact Statement Backup Material
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