Commission Meeting Agenda Item
Agenda Item Title
Consideration of Approval of the Proportionate Share Mitigation Agreement between The School Board of Lake County, Florida, The Town of Lady Lake, and SK Hammock Oaks, LLC, for the Reserve at Hammock Oaks Subdivision.
Agenda Item ID
Staff Recommended Motion
Staff recommends approval of the Proportionate Share Mitigation Agreement.
On August 7, 2023, the Town Commission approved the Reserve at Hammock Oaks Preliminary Plat Plan, a proposal totaling 950 units spread amongst 8 phases, including 687 Market Rate Single Family Residences, 105 Market Rate Age-restricted Single Family Residences, and 158 Market Rate Townhomes, on multiple parcels consisting of approximately 271.87 +/- acres of land, zoned Planned Unit Development (PUD), located approximately 1.2 miles south of Hwy 466, west of Cherry Lake Road and east of Rolling Acres Road.
As part of the process of securing entitlements for the project, SK Hammock Oaks, LLC submitted a request to the School Board of Lake County, Florida for concurrency determination and school capacity availability for the Reserve at Hammock Oaks Subdivision. In a letter dated April 21, 2023, the school board informed the applicants that the project is anticipated to generate a demand of 297 student seats: 133 at the elementary level, 67 at the middle school level, and 97 at the high school level. However, the school board further determined that 97 high school seats are not available to serve the project, therefore, a proportionate share mitigation agreement would have to be entered into to satisfy the concurrency requirement pursuant to the First Amended Interlocal Agreement for School Facilities Planning and Siting recorded in Official Records Book 3644, Page 1, in the public records of Lake County, Florida.
The applicant’s proportionate share mitigation payment is three million three hundred eighty-one thousand six hundred and fourteen dollars. There is a cost of $34,862.00 per student station multiplied by the demand generation of the 97 students. The payment must be made to the School Board of Lake County, Florida, prior to the recording of the final plat. The payments will be made across multiple phases of the development.
The agreement was executed by the applicant on September 28, 2023, and subsequently executed by the Board Chair of the School Board of Lake County on October 9, 2023. At this time, the Town of Lady Lake, as the third and final party to the agreement, must execute the agreement to establish the agreement’s validity prior to collection of the mitigation payment from the applicant.
There will be no fiscal impact to the Town of Lady Lake as a result of being a party to the agreement, nor is there any obligation of the Town to collect the mitigation payment on behalf of the school board or further responsibilities of the Town pertaining to school concurrency mitigation in association with the Reserve at Hammock Oaks Subdivision project.
The agreement has been reviewed and approved by Town Attorney Derek Schroth.