09-20-16 Minutes CRA•
will soon acquire their clearing/grubbing site permit. The development that is proposed will
consists of two buildings, up to eight stories, with each building containing a parking structure.
Phase 1 will consists of a multi-story (8 stories) building complex (Building C-J) containing
54,250 square feet of Retail, 75,000 square feet of Restaurant, 290 Dwelling Units (Condos), a
Hotel containing 122 rooms and a Fitness Center area of up to 32,000 square feet. Phase 1 will
also consists of another building (Buildings A-B), which will contain 20,820 square feet of
Retail, 22,040 square feet of Restaurant, and 166 Dwelling Units (Condos) with an internal
parking structure.
The development will meet the intent of the Target Area 2 Overlay with regards to the siting
requirements. The street details were briefly explained, and it was stated that this project would
meet all the street detail requirements. Further, off-site road improvements were also explained.
City Planner Rumer explained the timeline of the project starting with the adoption of the
development agreement tonight. As part of the development process with the architect, the
developer will have periodic meetings with City staff and the Building Department to go over the
building plans so they can be reviewed as they move along. Further explanation was given on
staff's intent to work with the developer so that vertical construction can occur within 9-10
months.
DISCUSSION:
Member Grogan inquired if Bluford Avenue up to Highway 50 will be redone and resurfaced.
City Planner Rumer explained that Bluford Avenue going North from Highway 50 up to the
ditch was identified as needing dual lefts. The funding for the dual lefts will be done under the
bonding initiative. The Oasis Apartments paid a percentage of that estimated costs to put in the
dual lefts, and they will also repave from Highway 50 up to the ditch; this is not a part of this
project,but will occur at the same time.
Assistant City Manager Shadrix briefly explained how market value, economic activity, tax
revenue, and impact fees were all considered when determining the incentive plan. These
incentives were established with as little risk to the City as possible. City Attorney Cookson
further outlined the incentive plan to the Board by detailing some of the main benefits in the
Development Agreement. He advised that the Development Agreement has been signed by the
Developer and approved by the City Commission. The CRA Board will also need to approve this
development as the project is in the CRA Target Area.
Member C. Johnson shared that she is very excited about the potential of this project and
inquired if the base year value is the existing property value. It was answered in the affirmative.
Member C. Johnson inquired about the incremental revenue that will be achieved with the
development if starting with the base year. Assistant City Manager Shadrix explained that
they estimate it would generate $600,000-$800,000 a year after they start building out. Member
C. Johnson said they mentioned minimizing the risk, but inquired if there are milestones that
they are expecting the Developer to meet. City Attorney Cookson answered in the affirmative.
One of the milestones is that January 1, 2017, is the commencement of actual construction. City
Planner Rumer shared that there is a sunset date for the incentives after 10 years. Further
discussion ensued regarding the milestones within the project.
Member Corless inquired if the Development Agreement stays with the land, should something
happen with change of ownership. City Attorney Cookson answered in the affirmative. Brief
discussion ensued regarding the retention pond included in the development. Member C.
CRA Meeting 09/20/2016 Page 2
Johnson inquired whether everything that is being asked of the Board tonight is consistent with
their adopted Redevelopment Plan and Interlocal Agreement with the County. City Attorney
Cookson answered that they believe it is consistent with both. He further shared that as far as the
agreement with Orange County on the tax increment, this will not affect them.
Motion: Move to approve the City Center West Orange Development Agreement,
as presented by staff.
Moved by CRA Member Corless, seconded by CRA Member Firstner; Motion
carried 7-0.
V. BOARD MEMBER COMMENTS
Member Corless – shared that she is excited as this is a historical event and would like to
applaud staff for their efforts.
Member Firstner– shared that he is happy to see the City moving along on these projects in the
CRA and would like to see the rest of the CRA develop out.
Member R. Johnson – thanked staff for all their time and effort in this project. This project is
one of the greatest things that will happen in Ocoee and will allow citizens to see the City
moving forward.
Member C. Johnson – expressed that she too is enthusiastic about where this project will take
the City. She further inquired if the CRA Board could get quarterly updates on projects as they
move forward since they do not meet often.
Vice Chair Wilsen–echoed everyone's sentiments and thanked staff.
Member Grogan – thanked staff and shared that with the redevelopment of HWY 50, this will
bring in some new developers along that corridor.
Chairman Keller – thanked staff for all their hard work and is happy to see this come to
fruition.
ADJOURNMENT
The meeting adjourned at 6:44 p.m.
APPROVED:
Attest:
11,0' ,„,, 14, —
Melanie Sibbitt, Secretary oel Keller, Chair
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