HomeMy WebLinkAbout05-18-2023 Supporting Documentsm m m m m m m m m m m m m= w m = M
•
OTOI i L"awel i l l el lAb
m
ORSC Development Agreement
Scope of Work
• 16 Baseball fields that convert to 3 softball/little league fields
and multi -purpose fields.
• (2) Multi -purpose fields, splash pad area, inclusive recreation
park and playground with free parking lot for city use.
• Sports complex welcome center and vendor area.
• Walkable Promenade.
• (3) Hotels with an estimated 600 rooms and parking garages.
• Estimated 300,000 +/- SF of commercial space for retail
shopping, restaurants, entertainment, office use and service
providers.
• (2) parking garages to accommodate approximately 1,600
parking spaces.
• Roadway/Infrastructure expansion and improvements.
"Ocoee Florida is Growing and Setting the Stage for Years to Come"
M
Montierre Development Commitments
Montierre Development agrees to develop the project in accordance with the terms of
this agreement and the Ocoee Land Development Code.
Montierre has secured or intends to secure the financing necessary to construct the
project.
Montierre has secured or intends to secure a commitment from an established amateur
baseball event and scouting organization.
0 Montierre agrees to imdemnify, defend, release, provide general liability insurance and
hold the City of Ocoee harmless with respect to Montierre's entry to the Chevron
Property in our pre -closing due diligence.
0 Montierre will obtain enviromental indemnification insurance relating to the Chevron
Property at sole cost to Montierre.
Re-imburse the City of Ocoee for the required deposits associated with the Chevron
Contract.
Payback $8M to the City of Ocoee for the Rodger's Property over a span of a 10 year
period starting 12 months proceeding the first CO is issued for the hotels being
constructed.
Montierre will provide a profit sharing program to the City of Ocoee. The City of Ocoee
will recieve a $20.00 a night per room fee from all 3 hotels and a $5.00 a parking space
that acquires at least a $20.00 fee per day. This program will be in place for a period of
no less than 30 years.
Montierre will build (2) new baseball fields for city use at an existing city park area.
Montierre will give the City of Ocoee limited use of complex fields at no cost to the city.
Montierre Property Acquisition
Property Descriptions:
Chevron Property: 07-22-28-0000-00-001
City Property: 07-22-28-0000-00-023
Glen Rodgers: 07-22-28-0000-00-039
Glen Rodgers: 07-22-28-0000-00-041
Glen Rodgers: 07-22-28-0000-00-043
Glen Rodgers: 07-22-28-0000-00-074
Glen Rodgers: 07-22-28-0000-00-105
Adrian Galvan: 07-22-28-0000-00-080
Floriday Properties: 07-22-28-0000-00-087
rs
�Al
City of Ocoee Commitments
• The city will enter in to a contract with Chevron to purchase parcel #
07-22-28-0000-00-001
• The city will assign the Chevron Contract to Montierre Development.
• The city desires to facilitate the project based on the benefits to the city
residents.
• Upon Montierre's acquisition of the Chevron Property, the city will convey to
Montierre the City Property (Parcel # 07-22-28-0000-00-023) by special warranty
deed.
• From the date of conveyance of the City Property to Montierre and continuing
for the five year period following the date Montierre opens any portion of the
project, the city shall provide a tax abatement of city property taxes for the
project.
• Process applications and approvals for Brownfield overlay.
• The city will cooperate with Montierre to obtain tourist tax funds for this project.
• The city agrees to review and consider for approval Montierre's applications and
plans to not unreasonably delay Montierre's established performance and
milestone schedule.
• The city agrees to timely complete such applications that may reasonably be
required of the City of Ocoee as the owner of the City Property.
w� e� ■s w �r w � � � ens � � .� w w w s� w
Expansion
Road Infrastructure Ex
/ p �
• Montierre Development shall be responsible for improvements to Ocoee -
Apopka Road from the intersection of West Road south to Franklin Street
intersection.
• The City of Ocoee agrees to use good faith efforts to seek federal, state and/
or county participation or contributions toward the Ocoee -Apopka Road
improvements.
• The Ocoee -Apopka Road improvements may be completed in phases so that
certain portions of the project may receive a certificate of completion and/
or certificate of occupancy prior to the full completion of the Ocoee -Apopka
Road improvements pursuant to a phasing schedule agreed upon by both
Montierre and the city.
• Montierre shall receive transportation impact fee credits as allowed under
the Ocoee Land Development Code for improvements with the amount and
timing of such credits being memorialized in an impact fee agreement once
the project is reviewed and studies are completed.
• Montierre shall not be entitled to an amount of transportation impact fee
credits that exceed the amount of transportation impact fees calculated for
the project.
��Wmm
® /
Al
--a
�_ / Awl