Commission Meeting Agenda Item

Lake Sumter Commercial, LLC, is the property owner of approximately 3.25 acres along Cherry Lake Road, located southwest of the intersection of Highway 466 and Cherry Lake Road, identified by parcel ID D24J003 in Sumter County, Florida.

The Lake Sumter Reserve Apartment Complex is a project consisting of 84 units in six buildings considered to be Phase II of the Lake Sumter Apartment Homes, a 332-unit multi-family complex consisting of 14 apartment buildings, a clubhouse and amenities that was approved back in 2019.

The project is under the jurisdiction of Sumter County as it relates to zoning, building, and fire codes. The Town of Lady Lake is the utility provider as this property is currently under the Town’s adopted service area.

In order to serve the additional development with water, sewer and reuse capacity, the owner/developer is seeking to reserve 10,500 gallons per day or 42 Equivalent Residential Units (ERUs) for water, 10,500 gallons per day or 42 Equivalent Residential Units (ERUs) for Sewer, and 4,384 gallons per day or 16 Equivalent Residential Units (ERUs) for Reclaim/Reuse Water.

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). The applicant will have 30 days from the execution of this agreement to pay for the capacity.

The Lump Sum for the total ERUs allocation is $202,226.00. 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 determined correct in form for consideration and approval by the Town Commission.