Commission Meeting Agenda Item

Lake Ella, LLC is the owner of property being approximately 67.47 acres, located approximately 3/4 mile east of Rolling Acres Road and approximately one mile west of South Highway 27/441. The property is zoned “RS-6” (Single Family Medium Density) and the Future Land Use is RET-Commercial General – Retail Sales and Services, which allows for the proposed land uses and is consistent with the Town’s Comprehensive Plan. ROIB SFR Lake Ella, LLC is under contract with Lake Ella, LLC to purchase the property and will be the ultimate developer of the project.

On March 4, 2019, the Town Commission approved the Lake Ella Estates Subdivision Preliminary Plat Plan. A Development Order is expected to be issued within the next 30 days for the Improvements/Construction Plat Plans to commence utilities, stormwater, and other horizontal infrastructure for the development.

In order to serve the development with water, sewer and reuse, the property owner would like to reserve 58,000 gallons per day of sewer capacity, 58,000 gallons per day of water capacity, and 135,630 gallons per day of reuse capacity to serve these facilities. This capacity is equivalent to 232 Sewer ERUs, 232 Water ERUs, and 495 Reuse ERUs respectively.

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 attached Agreement, as provided by Utility (The Town).

Since the development will have three phases, the developer has established a specified payment schedule as follows:

Phase I: Developer shall pay the first required payment under this agreement within 30 days after the Town of Lady Lake executes this agreement in the total amount of $432,848.00.

Phase II: The second payment of 80 ERUs for Sewer, Water, and Reuse respectively shall be the same amounts as the first payment with the exception of the Reuse Common Areas covered in the Phase I payment ($265,760 for Sewer; $114,800 for Water; and $12,160 for Reuse for the 80 Lots of Phase II) and is due on or before 18 months from the date of the first payment.

Phase III: The third and final payment shall be for 72 ERUs for Sewer, Water, and Reuse respectively and shall be ($239,184.00 for Sewer; $103,320 for Water; and $10,994 for Reuse for the remaining 72 lots in Phase 3) and due on or before 18 months from the date Payment number two was made or 36 months from the execution of this agreement; whichever happens first.

Should Developer fail to pay the corresponding impact fees allocations as provided herein, the Town, in its sole discretion, may rescind and void this Agreement in its entirety. This agreement was reviewed by Town Attorney Derek Schroth and Town staff and was determined to be correct in form for consideration and approval by the Town Commission.