Commission Meeting Agenda Item

Benchmark Lady Lake 25 Associates, LLC, is the property owner of approximately 18.5 acres along Hwy 27/441, Fennell Boulevard and County Road 25, identified by Alternate Key Number 3305451. Lady Lake Commons Outparcel A is a corner outparcel of approximately 2.42 acres located at the southeast corner of the intersection of North Highway 27/441 and Fennell Boulevard. The property is zoned Heavy Commercial (HC) and the Future Land Use is RET-Commercial General – Retail Sales and Services, which allows for the proposed restaurant, and is compatible and consistent with the Town’s Comprehensive Plan.

In order to serve the additional development with water, sewer and reuse supply as its development progresses, the owner/developer is seeking to reserve 13,250 gallons per day or 53 Equivalent Residential Units (ERUs) at this time.

The 53 ERUs reflect a calculation based on the following capacity allocation breakdown:

The developer has agreed to utilize the Town's water, sewer, and reuse facilities to benefit the development and to the terms and conditions hereinafter set forth in the agreement, as provided by Utility (The Town).

The lump sum for the total ERUs allocation is $247,563.00. Should the developer fail to pay the corresponding impact fee allocations as provided in the agreement, the Town, in its sole discretion, may rescind and void the agreement in its entirety.

The agreement was reviewed by Town Attorney, Derek Schroth and Town staff and determined correct in form for consideration and approval by the Town Commission.