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 the Tremont Plaza Development Project has submitted an application for review and approval as a designated TOD. The project consists of hotel, office and retail uses, as identified in permit case BLD2015-08655, located at 225 South Garland Avenue, in the City's North Transportation Benefit Area.
Based on the qualifying characteristics of the project, City staff shall support a 47.5% 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 $462,032.69 shall be due, prior to permit issuance. |