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Agenda 07/24/2012 Item #12A7/24/2012 Item 12.A. EXECUTIVE SUMMARY Recommendation to approve settlement prior to trial in the lawsuit entitled G.L. Homes of Naples Associates H, Ltd. v. Collier County, a political subdivision of Florida through its governing body, Board of County Commissioners of Collier County, Case No. 09- 2451 -CA, filed in the Twentieth Judicial Circuit in and for Collier County, Florida, and authorize the Chairman to execute the Settlement Agreement. Companion to Items 8A, 9B and III OBJECTIVE: To settle a lawsuit brought by G.L. Homes of Naples Associates II, Ltd. (G.L. Homes) with respect the reimbursement of Road Impact Fee Credits. CONSIDERATIONS: This lawsuit stems from a May 9, 2006 Agreement for Road Impact Fees with G.L. Homes. The Agreement provided that in exchange for transportation concurrency vesting, G.L. Homes would construct the Logan Boulevard extension between Vanderbilt Beach Road and Immokalee Road. G.L. Homes would then be reimbursed for its cost of constructing Logan Boulevard through Road Impact Fee Credits. The Agreement contemplated the construction of 850 units, but none were built. In its Complaint, G.L. Homes sought a cash reimbursement in the amount of $10,060,515.96 for the costs it incurred in this completed road project. In recognition of the construction of the project, the proposed Settlement Agreement vests G.L. Homes, with respect to Transportation Concurrency, in perpetuity, 850 residential dwelling units in and for the Terafina Development. G.L. Homes would be entitled to $10,060.515.96 in Road Impact Fee Credits which will be reduced as building permits are issued. In the event Road Impact Fee Credits remain unspent upon build -out, G.L. Homes could either transfer the credits to another permitted project within the same or adjacent transportation impact fee district, or receive a cash reimbursement pursuant to the terms set forth in the Settlement Agreement. FISCAL IMPACT: None. GROWTH MANAGEMENT IMPACT: None. LEGAL CONSIDERATIONS: The Settlement Agreement was prepared by the County Attorney, is legally sufficient, and requires majority vote for approval. -JAK RECOMMENDATION: That the Board of County Commissioners approves and authorizes its Chairman to sign the attached Settlement Agreement relating to the lawsuit entitled G.L. Homes of Naples Associates H, Ltd. v. Collier County, a political subdivision of Florida through its governing body, Board of County Commissioners of Collier County, Case No. 09- 2451 -CA. PREPARED BY: Jeffrey A. Klatzkow, County Attorney Page 1 of 1 Packet Page -1146- 7/24/2012 Item 12.A. COLLIER COUNTY Board of County Commissioners Item Number: 12.A. Item Summary: Recommendation to approve settlement prior to trial in the lawsuit entitled G.L. Homes of Naples Associates ll, Ltd. v. Collier County, a political subdivision of Florida through its governing body, Board of County Commissioners of Collier County, Case No. 09- 2451 -CA, filed in the Twentieth Judicial Circuit in and for Collier County, Florida, and authorize the Chairman to execute the Settlement Agreement. Meeting Date: 7/24/2012 Prepared By Name: CrotteauKathynell Title: Legal Secretary,County Attorney 7/12/2012 11:09:03 AM Approved By Name: GreenwaldRandy Title: Management/Budget Analyst,Office of Management & B Date: 7/12/2012 4:12:08 PM Name: KlatzkowJeff Title: County Attorney Date: 7/16/2012 10:27:32 AM Name: PriceLen Title: Administrator, Administrative Services Date: 7/16/2012 12:12:56 PM Packet Page -1147- 7/24/2012 Item 12.A. IN THE CIRCUIT COURT OF THE TWENTIETH JUDICIAL CIRCUIT IN AND FOR COLLIER COUNTY, FLORIDA CIVIL ACTION G.L. HOMES OF NAPLES ASSOCIATES II, LTD., a Florida Limitied Patnership, Plaintiff, V. Case No. 09- 2451 -CA COLLIER COUNTY, a political subdvision of Florida through its Governing Body, BOARD OF COMMISSIONERS OF COLLIER COUNTY, Defendant. SETTLEMENT AGREEMENT THIS SETTLEMENT AGREEMENT (hereinafter referred to as the "Agreement ") is made and entered into this _ of ' 2012, by and between G.L. Homes of Naples Associates II, Ltd. (the "Developer ") and Collier County, Florida, a political subdivision of the State of Florida (the "County "). WHEREAS, on December 17, 2002, Developer and County entered into that certain Standard Form Collier County Contribution Agreement for Road Impact Fees (No. 2002- 009 -TR- GL Homes), hereinafter referred to as the "Original Agreement;" and WHEREAS, on May 9, 2006, Developer and County entered into that certain Amended and Restated Standard Form Collier County Contribution Agreement for Road Impact Fee Credits recorded in OR Book 4034, Pages 1820 -1860, Official Records of Collier County, Florida hereinafter referred to as the "Amended Agreement; "and WHEREAS, the roadway improvements contemplated in the Amended Agreement have been completed by Developer and accepted by County; and WHEREAS, the Amended Agreement granted cash and credits for road impact fees and certain vesting rights for road concurrency, in exchange for the Developer's contribution of advanced off -site roadway construction improvements consisting of the extension of Logan Boulevard as a two (2) lane roadway between Vanderbilt Beach Road and Immokalee Road (hereinafter described as the "Project"); and WHEREAS, Developer is the fee owner of certain lands, (hereinafter referred to as "Terafina "), described and graphically rendered in Composite Exhibit "A", attached hereto and incorporated herein by reference, which upon development in the near future will be subject to the imposition of an estimated $5,528,476.50 in Road Impact Fees; and Packet Page -1148- 7/24/2012 Item 12.A. WHEREAS, the parties agree that based on the actual cost of construction of the Project that Developer has Road Impact Fee Credits in the amount of Ten Million Sixty Thousand Five Hundred Fifteen and 96/100 Dollars (510,060,515.96); and WHEREAS, subsequent to the County's acceptance of Developer's completion of the Project a dispute arose between the parties concerning the Amended Agreement which resulted in litigation wherein the Developer brought suit against Collier County (G.L. Homes of Naples Associates II, LTD. v. Collier County Board of County Commissioners., 09- 2451 -CA) now pending in the Circuit Court for the Twentieth Judicial Circuit in and for Collier County, Florida, as the Developer asserted it is entitled to the reimbursement of $10,060,515.96 in earned Road Impact Fee Credits; and WHEREAS the parties wish to settle this dispute on the terms and conditions set forth below. NOW, THEREFORE, in consideration of the foregoing premises and the following mutual promises (the receipt and sufficiency of such consideration being acknowledged by all parties), the parties agree as follows: 1. Recitals. The foregoing recitals are true and correct and are incorporated herein by reference. 2. Denial of Liability. No party is admitting wrongdoing, fault, or liability of any nature by entering into this Agreement. 3. Vesting of Terafina. In exchange for the advanced construction of the Project, Developer is vested in perpetuity for eight hundred and fifty (850) residential dwelling units in and for the Terafina Development as the construction of the Project has been deemed a prepayment of Road Impact Fees. Said vesting shall be evidenced in a duly authorized Certificate of Public Facilities Adequacy issued by the County. Developer shall apply for the Certificate of Public Facilities Adequacy by way of written letter and a copy of this Agreement fully executed and the County shall issue such Certificate based on the same within thirty [30] days of the execution of this Agreement. 4. Road Impact Fee Credits. The amount of Road Impact Fee Credits to which Developer is entitled to under this Agreement is Ten Million Sixty Thousand Five Hundred Fifteen and 96/100 Dollars ($10,060,515.96). The credit for Road Impact Fees identified herein shall run with the Development and shall be reduced by the entire amount of each Road Impact Fee due for each Building Permit issued thereon until the Development project is either completed or the credits are exhausted or otherwise no longer available, or have been assigned by operation of or pursuant to an assignment agreement with County. The foregoing reduction in the Road Impact Fees shall be calculated based on the amount of the Road Impact Fees in effect at the time the Building Permit is issued. The credits set forth herein shall be applied solely to Road Impact Fees, and shall not offset, diminish or reduce any other charges, fees or other Impact Fees for which Developer, its successors and assigns are responsible in connection with the development of their lands. It shall be Developer's obligation to notify the County that a Road Impact Fee Credit is available each time a building permit is ready for issuance. Final calculation of the remaining road and other impact fees due will be based on the impact fee schedule in effect at the time of the submittal of the building permits and shall be paid in full prior to issuance of each Packet Page -1149- 7/24/2012 Item 12.A. building permit. These Road Impact Fee Credits shall in no event be subject to forfeiture, reduction, rescission or diminishment. 5. Reimbursement of Excess Road Impact Fee Credits. In the event that upon build -out of the Development the Road Impact Fee Credits are still unspent, the remaining balance shall, at Developer's sole election, (1) be transferred to another permitted project within the same or adjacent transportation impact fee district, or (2) be reimbursed to Developer. Any reimbursement for excess Road Impact Fee Credits shall come from future receipts by the County of Road Impact Fees, and shall be paid over a period of five years from the date of completion of the Development as determined by the County, subject to annual appropriation by the County. It is specifically understood and agreed that Developer may assign these Impact Fee Credits, in whole or in part, and at any time, to the development known as "Parklands." Nothing in this paragraph shall be deemed to be a limitation or prohibition of the Developer's right to assign and transfer Road Impact Fee Credits at anytime, including but not limited to, an assignment prior to the build -out of the Development, as permitted by the County's Consolidated Impact Fee Ordinance. 6. Road Impact Fee Ledger. The County shall on a current basis maintain on the Road Impact Fee Credit Ledger written evidence of the Road Impact Fee Credits earned, used by and available to Developer until such time the Road Impact Fee Credit Ledger reflects a zero balance. Developer shall have the right to rely upon the Road Impact Fee Credit Ledger for confirmation of the Road Impact Fee Credits remaining to Developer under the terms of this Agreement. 7. Attorneys' Fees. All parties shall pay their own attorneys' fees and costs associated with this matter. 8. Execution of Other Documents. The parties agree that they will execute any other documents as are necessary to effectuate or carry out the intent of this Agreement. 9. Governing Law and Venue. This Agreement and all other documents executed in connection with this Agreement shall be governed by and interpreted under Florida law. The sole and exclusive venue for any litigation between the parties arising out of or related to this Agreement or any documents executed in connection with this Agreement shall be in the Circuit Court in and for Collier County, Florida. 10. Enforceability. In the event that any provision of this Agreement is found to be void or unenforceable by a court of competent jurisdiction, the remaining provisions, in whole or in part, shall continue to be enforceable to the greatest extent allowed by law and to the same extent as if the void or unenforceable provision were omitted from this Agreement. This Agreement shall be binding on Developer's successors, heirs, and assigns. 11. Entire Settlement Agreement. This Agreement contains the entire agreement between the parties and all prior or contemporaneous negotiations or representations are merged into this Agreement. This Agreement may not be amended or modified except in a written document signed by the parties. 12. Execution. The Developer shall execute this Agreement prior to it being submitted for approval by the Board of County Commissioners. This Agreement shall be recorded by the County in the Official Records of Collier County, Florida, within fourteen (14) days after the Packet Page -1150- 7/24/2012 Item 12.A. County enters into this Agreement. The Developer shall pay all costs of recording this Agreement. The County shall provide a copy of the recorded document to the Developer upon request. 13. Dismissal of Liti ation. The County shall file the fully executed Agreement with the Court in Case No. 09- 2451 -CA within ten (10) business days of the Agreement being recorded. The Developer shall file an aYp cp --=' +P without prejudice of the litigation within five (5) business days thereafter indicating that each Party shall bear its own attorneys' fees and costs. Provided that County satisfies and complies with all the terms of this Settlement Agreement, Developer shall be barred from recommencing this action, or any compulsory claim which could have been asserted in this action. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed by their appropriate officials, as of the date first above written. Attest: DWIGHT E. BROCK, Clerk LIZ , Deputy Clerk STATE OF FLORIDA COUNTY OF BROWARD BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY, FLORIDA FRED W. COYLE, Chairman G.L. HOMES OF NAPLES ASSOCIATES II, LTD., a Florida Iimited partnership By: G.L. Homes of Naples 11 Corporation, a Florida corporation, its general partner By: f/ A&I*J AW7 , as Vice President The foregoing instrument was acknowledged before me this /�- day of °JN 2012, by Alan Fant, as Vice President of G.L. Homes of Naples II Corporation, lorida corporation, as General Partner of G.L. HOMES OF NAPLES ASSOCIATES II, LTD., a Florida limited partnership, on behalf of such limited partnership,-,He is personally known to me. A �' d Ito -'form and 1 iency: 3effrey Ia kow Collier o ty Attorney Notary Public .1� Print Name: _ My Commission Packet Page -1151- "FERRY KAPLAN t.Id:Lf11N •. •': MY OOMMOSK M # E UM& EXPIRES September 47, ZOl4 poTSaieo,53 ,