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Home My WebLink AboutItem 04 Approval of Second Amendment to the Development Agreement for the Regency at Ocoee City of Ocoee ▪ 1 N. Bluford Avenue ▪ Ocoee, Florida 34761 Phone: (407) 905-3100 ▪ www.ocoee.org STAFF REPORT Meeting Date: April 16, 2024 Item #: 4 Contact Name: Michael Rumer Department Director: Michael Rumer Contact Number: Ext. 1018 City Manager: Robert Frank Subject: Approval of Second Amendment to the Development Agreement for the Regency at Ocoee. (Development Services Director Rumer) Background Summary: On June 6, 2024, the Honorable Mayor and City Commissioners approved the Large-Scale Preliminary Site Plan and First Amendment to the Development Agreement for The Regency Mixed-Use Development which will be located in the Community Redevelopment Area (CRA) Special Overlay District titled: CRA Target Area 1. The property contains three (3) parcels identified as parcel numbers 30-22- 28-0000-00-018, 30-22-28-0000-00-059, and 30-22-28-0000-00-016. The subject properties combined are approximately 16.68 acres in size and are more generally located on the north side of the Florida Turnpike and the west side of the Maguire Road at the Old Winter Garden Road Intersection and also within Commission District 3 - Richard Firstner. The Large-Scale Preliminary Site Plan approval by the City Commission entitled the Mixed-Use Urban Development project is as follows: 300 luxury multi-family units on approximately 16.68 acres & seven (7) buildings as reflected in sheet C4: • Building 1: 12 units and +/- 7,000 SF of retail uses • Building 2: 32 units (Studio, 1 and 3 Bedrooms) • Building 3 & 4: 88 units (1,2, and 3 Bedroom Units) • Phase 5, 6, & 7: 168 units (1, 2, & 3 Bedrooms) Buildings 1 and 2 will be located on the north side of the extension of Old Winter Garden Road. There will be two access points, with one a northern road connection as required in the CRA Target Area 1 Development Plan. Buildings 3-7 and the Club House will be located on the south side of the extension of Old Winter Garden Road. The project will have two (2) access points. The main access/entrances will be off of Old Winter Garden Road. An amenity center/clubhouse, dog park, and a stormwater pond will also be located on this site. Utilities will be extended to the site from Maguire Road. The First Amendment to the Development Agreement approved on June 6, 2023, provided credits for the Transportation Impact fees, Parks and Recreation Impact fees, and participation in improvements to the Maguire Road / Old Winter Garden intersection. The proposed Second Amendment to the Development Agreement provides for the deferment of some impact fees to Certificate of Occupancy. The changes are as City of Ocoee ▪ 1 N. Bluford Avenue ▪ Ocoee, Florida 34761 Phone: (407) 905-3100 ▪ www.ocoee.org follows: i) Payment of Fees. The Developer shall pay to the City the plan check fees and the police, fire, road, and recreation impact fees concurrently with the issuance of the certificate of occupancy for the final habitable building in the project. Issue: Should the Honorable Mayor and City Commissioners approve a Second Amendment to the Development Agreement for The Regency Mixed-Use Development? Recommendations: Staff recommends the Honorable Mayor and City Commissioners approve a Second Amendment to the Development Agreement for The Regency Mixed-Use Development. Attachments: 1. Second Amendment to Development Agreement - The Regency at Ocoee (Developer Signed) Financial Impacts: There are no out-of-pocket costs for the City. Type of Item: Consent 1 ORLDOCS 21346384 1 THIS DOCUMENT PREPARED BY AND RETURN TO: Daniel T. O’Keefe, Esq. Shutts & Bowen, LLP 300 Orange Ave. Suite 1600 Orlando, FL 32801 SECOND AMENDMENT TO DEVELOPMENT AGREEMENT (The Regency at Ocoee) This SECOND AMENDMENT TO DEVELOPMENT AGREEMENT (The Regency at Ocoee) (“Second Amendment”) is made and entered into this day of , 2024 (“Effective Date”), by and between the CITY OF OCOEE, a Florida municipal corporation, whose mailing address is 150 North Lakeshore Drive, Ocoee, Florida 34761, Attention: City Manager (“City”), and OCOEE ACQUISITION COMPANY, LLC, a Florida limited liability company, with an address of 5911 Turkey Lake Road, Suite 303, Orlando, Florida 32819 (collectively, the “Developer”). The City and the Developer are sometimes collectively referred to herein as the “Parties” and individually as a “Party.” WITNESSETH: WHEREAS, Developer and City entered into that certain Development Agreement executed on May 3, 2022 and recorded on May 9, 2022, DOC # 20220294398 in the Public Records of Orange County, Florida, as amended by that certain First Amendment to Development Agreement executed on June 6, 2023 and recorded on June 13, 2023, DOC # 20230329692 (collectively, the “Agreement”); WHEREAS, the Parties desire to amend the Agreement as specifically provided herein; and WHEREAS, any capitalized term not otherwise defined herein shall have the meaning ascribed to it under the Agreement. NOW, THEREFORE, for and in consideration of the mutual obligations contained herein and the sum of ten dollars ($10.00) and other good and valuable consideration the sufficiency of which is hereby conclusively acknowledged the Parties agree as follows: AGREEMENT 1. Recitals. The Recitals contained above are true and correct and are incorporated in this Second Amendment in full as if set forth herein. 2. Payment of Fees. Developer shall pay to the City the plan check fees and the police, fire, road, and recreation impact fees concurrently with the issuance of the certificate of occupancy for the final habitable building in the Project. 3. Counterparts. This Second Amendment may be executed in two or more counterparts, each of which shall be and be taken to be an original and are collectively but one instrument. 2 ORLDOCS 21346384 1 4. Effect on Agreement. Except as modified herein, the Agreement shall remain in full force and effect binding upon each of the Parties. In the event of a conflict between the Agreement and this Second Amendment, the terms of this Second Amendment shall control. [SIGNATURES APPEAR ON FOLLOWING PAGES] 4 ORLDOCS 21346384 1 CITY: CITY OF OCOEE By: Rusty Johnson, Mayor ATTEST: Melanie Sibbitt, City Clerk Approved as to Form: Richard Geller, City Attorney STATE OF FLORIDA COUNTY OF ORANGE The foregoing instrument was acknowledged before me this ____ day of ____________, 2024, by ______________________, as ______________________ of the City of Ocoee, Florida, a municipal corporation of the State of Florida, on behalf of the City of Ocoee, Florida. He/she appeared by (check one)  physical appearance or  online notarization, and (check one)  is personally known to me or  has produced ______________ as identification. Print Name: Notary Public My Commission Expires: Commission Number: