CITY OF ORLANDO
COUNCIL AGENDA ITEM

Items Types:
Economic Development 		For Meeting of:
October 9, 2017
District: 5 From:
Contract ID: Document Number:
Exhibits: Yes On File (City Clerk) : Yes Draft Only: No
Grant Received by City?: No
Subject:
Development Agreement for Creative Village Parcel J
Summary:

The attached proposed development agreement would be by and between the City of Orlando, Creative Village Development, LLC (the "Master Developer" of the Creative Village), and Creative Village SHP Owner, LLC (the prospective owner and developer of the proposed student housing and educational building on Parcel J of the Creative Village) (the "Development Agreement"). 

 

The Development Agreement relates to the proposed development of a 15-story, purpose-built student housing tower with public educational and retail space. The Development Agreement will:

 

 

  1. Arrange for the developer to undertake certain work to the City's nearby Tennis Center; and
  2. Arrange for the developer to undertake work to construct a portion of Federal Street; and
  3. Provide credit to the developer for work undertaken to construct a City streetscape along Livingston Street; and
  4. Assigns transportation impact fee credits to the developer; and
  5. Provides a method to calculate sewer benefit fees for the project; and
  6. Commits the developer and the City to negotiate a parks impact fee agreement for the assignment of parks impact fee credits for work being done by the developer to construct the Creative Village Central Park; and
  7. Provide credit to the developer for certain environmental work being done on Parcel J; and
  8. Provide a waiver of certain development rights to accommodate the construction of a parking garage on the lot-line of Parcel J.
Fiscal & Efficiency Data: No fiscal impact. 
Recommended Action:
Approval.
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: Kyle Shephard or Kelly Moody
Approved By:

Department Date and Time
Budget Outside Routing Approval 10/6/2017 9:52 AM
City Clerk 10/6/2017 10:58 AM
ATTACHMENTS:
Name: Description: Type:
Development_Agreement_Parcel_J.pdf Development Agreement Backup Material
160092_Sketch_SK-01_Parcel_J.PDF Exhibit A Exhibit
LIFT_STATION_PLAN.pdf Exhibit B Exhibit
20170228_UCF_Student_Housing_-_Water_Usage_for_CV6_(1).xlsx Exhibit C Exhibit
Development_Agreement_Parcel_J_-_FIS.pdf Fiscal Impact Statement Backup Material
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