Agenda 10/22/2024 Item #16A 1 (Execute an Amendment to the Economic Development Agreement with PFPI OZ, LLC to reallocate funding)10/22/2024
Item # 16.A.1
ID# 2024-1186
Executive Summary
*** This item continued from the October 8, 2024, BCC Meeting. *** Recommendation to approve and authorize the
chairman to execute an Amendment to the Economic Development Agreement with PFPI OZ, LLC to reallocate funding
amongst line items to better facilitate economic development in Golden Gate City.
OBJECTIVE: To attract and retain qualified targeted industry businesses, foster economic development, and encourage
redevelopment and renewal of the commercial district along Golden Gate Parkway, pursuant to Ordinance No. 2018-56,
as amended, the Golden Gate City Economic Development Zone Ordinance.
CONSIDERATIONS: On November 13, 2018, The Collier County Board of County Commissioners established the
Golden Gate City Economic Development Zone through Ordinance No. 2018-56, as amended. The priority of funding is
for the “redevelopment and renewal of the commercial district along Golden Gate Parkway.”
On May 9, 2023, the Board approved an Economic Development Agreement with PFPI OZ, LLC (“Pikus”) for the
proposed redevelopment project (“CENTRO”) allowing for the reimbursement of up to $788,878.56 in actual
expenditures for sanitary sewer, drainage, impact fees, and building permits incurred by constructing a mixed-use
development headquarters in the Golden Gate City Economic Development Zone (Agenda Item No. 11.C).
Pikus purchased the property on Golden Gate Parkway to construct its corporate headquarters in the Golden Gate City
Economic Development Zone. CENTRO will be the first Class-A, 2-story commercial, office headquarters, and
restaurant project to utilize the Qualified Opportunity Fund in Golden Gate City and is anticipated to generate 175 jobs.
Pikus’ current total capital investment in the Golden Gate City project is projected to exceed $6.4 million.
On August 20, 2024, Pikus contacted County Staff to indicate that CENTRO’s actual impact fees and building permit
fees will be $226,754.79 instead of the estimated $476,754.79 provided for in Section 2(c) of the current Agreement.
Pikus requested that the difference of $250,000 be reallocated within the Agreement to sewer installation and drainage
costs to offset project cost increases within those existing allocations. Below is a comparison of the current allocation in
the Agreement and the revised proposal:
Table 1: Comparison of Current and revised Allocations
Detail Current Agreement
Amount
Proposed
Amendment
Difference
Sewer Installation $146,412.85 $281,412.85 $135,000
Drainage $165,710.92 $280,710.92 $115,000
Impact fees and Permit fees $476,754.79 $226,754.79 -$250,000
Total $788,878.56 $788,878.56 $0
It is therefore recommended that Section 2 of the Agreement be amended as follows:
a. Up to the sum of $281,412.85 for sewer installation when verified as final by the County in the online CityView
application.
b. Up to the sum of $280,710.92 for drainage when verified as final by the County in the online CityView
application.
c. Up to the sum of $226,754.79 for impact fees and building permit fees on receipt of the Certificate of
Occupancy (CO).
The total amount authorized for reimbursement under this Agreement remains unchanged at $788,878.56. Pikus remains
current with their property tax and business tax receipt payments.
FISCAL IMPACT: No new funding will be allocated as a result of this amendment. Pikus will receive a
Page 1240 of 7162
10/22/2024
Item # 16.A.1
ID# 2024-1186
reimbursement of up to $788,878.56 and funding is available within the Golden Gate Economic Development Zone
Fund (1032). Reimbursement would only be distributed upon completion of the work and the receipt of sufficiency, as
identified in the Economic Development Agreement.
GROWTH MANAGEMENT IMPACT: This request is consistent with Objective 3 of the Economic Element of the
Collier County Growth Management Plan.
LEGAL CONSIDERATIONS: This item has been approved as to form and legality and requires a majority vote for
Board approval. –DDP
RECOMMENDATIONS: To approve and authorize the chairman to execute an Amendment to the Economic
Development Agreement with PFPI OZ, LLC to reallocate funding amongst line items to better facilitate economic
development in Golden Gate City.
PREPARED BY: Cormac Giblin, Director, Housing Policy & Economic Development
ATTACHMENTS:
1. First Amendment to EDA _ PFPI OZ, LLC-Vendor Signed
2. EDA Agreement _ PFPI OZ, LLC (05_09_2023 Item #11C)
Page 1241 of 7162
FIRST AMENDMENT TO ECONOMIC DEVELOPMENT AGREEMENT
PFPI OZ,LLC
This First Amendment to Economic Development Agreement (hereinafter referred to as
"Amended Agreement") is entered into this 8th day of October 2024, by and between Collier
County, a political subdivision of the State of Florida, through its Board of County Commissioners
(hereinafter referred to as the "County"), whose address is c/o County Attomey's Office,3299
Tamiami Trail East, Suite 800, Naples, FL 34112, and PFPI OZ, LLC, (hereinafter referred to as
"Pikus"), whose address is 5290 Golden Gate Parkway, Suite 3, Naples, FL 34116.
WITNESSETH:
WHEREAS, the County and Pikus entered into an Economic Development Agreement
related to reimbursement of up to $788,878.56 in actual expenditures for sanitary sewer, drainage,
impact fees, and building permits for constructing a Mixed-Use Development Headquarters
Facility ("CENTRO") in the Golden Gate City Economic Development Zone (Agenda Item No.
11.C., Doc#25261) dated May 9,2023 (the "Agreement"), which is incorporated by reference and
made apart hereof to this Amendment; and
WHEREAS, the Agreement allocates specific sums of money to (1) sewer installation, (2)
drainage, and (3) impact fees and building permit fees; and
WHEREAS, the Parties both desire and agree that the Agreement should be amended to
reallocate $250,000.00 from impact fees and building permit fees to sewer installation and
drainage as partial reimbursement for increases to Pikus' CENTRO capital investment costs.
NOW, THEREFORE, in consideration of the foregoing Recitals, and other good and
valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged, the
Parties agree as follows:
1. The foregoing Recitals are true and correct and are incorporated by reference herein.
2. Paragraph 2 of the Agreement shall be amended as follows:
2. As consideration for all of the sanitary sewer and drainage expenditures and
impact fees and building permits incurred by Pikus in constructing this Mixed-Use
Development Headquarters facility, the County will reimburse Pikus up to the sum
of $788,878.56 relating to its actual costs incurred for sanitary sewer and drainage
and impact fees and building permits as follows:
[24-TRN-00 3 s2 I t 88820 s I t]
Page 1 of2
Words stieken are deletions;
words underlined are additions.
cAoPage 1242 of 7162
a. Up to the sum of @ for sewer installation when
verified as final by the County in &e online CityView application.
b. Up to the sum of ${6$#l&42 $28Q.710.92 for drainage when verified
as final by the County in the online CityView application.
c. Up to the sum of ${76;751,79 $22f.754.79 for impact fees and building
permit fees on receipt of the Certificate of Occupancy (CO).
3. All other terms and conditions of the Agreement, except as modified herein, shall remain the
same.
IN WITNtrSS WHEREOF, the Parties have executed this Agreement on the date and
year first above written.
AS TO PIKUS:
PFPI
}t€Asn
srATE or.g+,ept& 6 uu/nA
COUNI'Y OF GgttIER-- (* A/,ltzza
0e*'\'*ei
The foregoing Amended Agreement
presence this I I day of September 2024,by
personally known to me.
rvas acknorvledged before me by means of physical
N{atthew Pikus as Manager of PFPI OZ,LLC, who is
ffi ffffi#ffi\SffiZ COi,lMlSStOr{ NO. t045(56
r.Y @ilMS$O,I EXPIRES FEBRTIARY N,M
By:
ASTO COUNTY:
Attest:
Crystal K. Kinzel, Clerk
, Deputy Clerk
Approvcd as to tbrm and legality:
Derek D. Perry
Assistant County Attorney
[24-TRN-003 52l I 888205/ I ]
Page 2 of2
Lu6r4 ,tr*a*--Cre
Notary Printed Name
BOARD OF COUNTY COMMISSIONERS
COLLIER COLINTY, FLORIDA
By:
Chris Hall, Chairman
Words s*ieken are deletions;
words underlined are additions.
0t
.\*$
N\'
Matthew Pikus. Manager
Notary Signature
Q6Page 1243 of 7162
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ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP
TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO
THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE
Print on pink paper. Attach to original document. The completed routing slip and original documents are to be forwarded to the County Attorney Office
at the time the item is placed on the agenda. All completed routing slips and original documents must be received in the County Attorney Office no later
than Monday preceding the Board meeting.
ROUTING SLIP**
Complete routing lines#1 through#2 as appropriate for additional signatures,dates,and/or information needed. If the document is already complete with the
exception of the Chairman's signature,draw a line through routing lines#1 through#2,complete the checklist,and forward to the County Attomey Office.
Route to Addressee(s) (List in routing order) Office Initials Date
1.
2. Sarah Harrington Economic Dev. & Housing SE n() 050.0z3
3. County Attorney Office County Attorney Office
S,Ak'113 s/l a/Z3
4. BCC Office Board of County
Commissioners rj/Il Slrr/3
5. Minutes and Records Clerk of Court's Office AD.BQOI I N
i f( 2027J
PRIMARY CONTACT INFORMATION
Normally the primary contact is the person who created/prepared the Executive Summary. Primary contact information is needed in the event one of the
addressees above may need to contact staff for additional or missing information.
Name of Primary Staff Sarah Harrington,Econ Dev&Housing Phone Number 4211
Contact/Department
Agenda Date Item was May 9,2023 Agenda Item Number DO # 261
Approved by the BCC if
Type of Document(s) Economic Development Agreement Number of Original 3
Attached Documents Attached
PO number or account
number if document is
to be recorded
INSTRUCTIONS & CHECKLIST
Initial the Yes column or mark"N/A"in the Not Applicable column,whichever is Yes N/A(Not
appropriate. Initial) Applicable)
1. Does the document require the chairman's original signature(instead of stamp)? Yes
2. Does the document need to be sent to another agency for additional signatures? If yes, N/A
provide the Contact Information(Name;Agency;Address;Phone)on an attached sheet.
3. Original document has been signed/initialed for legality. (All documents to be signed by
the Chairman,with the exception of most letters,must be reviewed and signed by the
Office of the County Attorney.)
4. All handwritten strike-through and revisions have been initialed by the County Attorney
Office and all other parties except the BCC Chairman and the Clerk to the Board.
5. The Chairman's signature line date has been entered as the date of BCC approval of the
document or the final negotiated contract date whichever is applicable.
6. "Sign here"tabs are placed on the appropriate pages indicating where the Chairman's
signature and initials are required.
7. In most cases(some contracts are an exception),the original document and this routing slip
should be provided to the County Attorney Office at the time the item is uploaded to the
agenda. Some documents are time sensitive and require forwarding to Tallahassee within a
certain time frame or the BCC's actions are nullifi d. Be aware of your deadlines!
8. The document was approved by the BCC on g/Ya nd all changes made during N/A is not
the meeting have been incorporated in the attac ed document. The County Attorney 4.K. / an option for
Office has reviewed the changes,if applicable.
v""141 this line.
9. Initials of attorney verifying that the attached document is the version approved by the N/A is not
BCC, all changes directed by the BCC have been made,and the document is ready for the -c j /1
an option for
Chairman's signature.
J/this line.
I:Forms/County Forms/BCC Forms/Original Documents Routing Slip WWS Original 9.03.04;Revised 1.26.05;2.24.05;11/30/12;4/22/16;9/10/21Page 1244 of 7162
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MEMORANDUM
Date: May 11, 2023
To: Sarah Harrington
Economic Development & Housing
From: Martha Vergara, Sr. Deputy Clerk
Minutes & Records Department
Re: Economic Development Agreement
FPFI, OZ, LLC
Attached is an original of the document referenced above, (Agenda Item #11C)
approved by the Board of County Commissioners on Tuesday, May 9, 2023.
The second original has been kept by the Minutes and Records Department as part of
the Board's Official Record.
If you have any questions, please contact me at 252-7240.
Thank you.
Attachment
Page 1245 of 7162
11c
ECONOMIC DEVELOPMENT AGREEMENT
PFPI OZ,LLC,
This Economic Development Agreement (hereinafter referred to as "Agreement") is
entered into this q day of May , 2023, by and between Collier County, a political
subdivision of the State of Florida, through its Board of County Commissioners (hereinafter
referred to as the "County"), and PFPI OZ, LLC, (hereinafter referred to as "Pikus"), whose
address is 5290 Golden Gate Parkway, Suite 3,Naples FL, 34116 .
RECITALS:
WHEREAS, Collier County enjoys broad Home Rule Powers, which include the
authority to enter into agreements to enhance economic development within the County; and
WHEREAS, Florida Statute Sec. 125.045 expressly provides that "The governing body
of a county may expend public funds to attract and retain business enterprises, and the use of
public funds toward the achievement of such economic development goals constitutes a public
purpose. The provisions of this chapter which confer powers and duties on the governing body of
a county, including any powers not specifically prohibited by law which can be exercised by the
governing body of a county, must be liberally construed in order to effectively carry out the
purposes of this section;" and further that"it constitutes a public purpose to expend public funds
for economic development activities, including, but not limited to, developing or improving local
infrastructure, issuing bonds to finance or refinance the cost of capital projects for industrial or
manufacturing plants, leasing or conveying real property, and making grants to private
enterprises for the expansion of businesses existing in the community or the attraction of new
businesses to the community;"and
WHEREAS, Pikus is constructing a Mixed Use Development Headquarters facility
within the Founders Plaza Planned Use Development (PUD) in the Golden Gate City Economic
Development Zone, "CENTRO"; and
WHEREAS, Pikus has requested that it be reimbursed up to the sum of$788,878.56 for
CENTRO's drainage and sanitary sewer infrastructure costs, and impact fees and building
permits; and
WHEREAS,Pikus is current on all property taxes and business tax receipt payments; and
WHEREAS,the Board expressly finds that this project will result in substantial economic
benefits to the County, including accelerating the provision of public infrastructure related to
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I i FYI
health and safety and solidifying the workforce in critical industries that have ongoing shortages
of skilled workforce.
NOW, THEREFORE, in consideration of the foregoing Recitals, and other good and
valuable consideration, the receipt and sufficiency of which is hereby mutually acknowledged,
the Parties agree as follows:
1. The foregoing Recitals are true and correct and are incorporated by reference herein.
2. As consideration for all of the sanitary sewer and drainage expenditures and impact
fees and building permits incurred by Pikus in constructing this Mixed-Use Development
Headquarters facility, the County will reimburse Pikus up to the sum of$788,878.56 relating to
its actual costs incurred for sanitary sewer and drainage and impact fees and building permits as
follows:
a. Up to the sum of$146,412.85 for sewer installation when verified as final by
the County in the online cityview application.
b. Up to the sum of $165,710.92 for drainage when verified as final by the
County in the online cityview application.
c. Up to the sum of $476,754.79 for impact fees and building permit fees on
receipt of the Certificate of Occupancy(CO).
3. Pikus will comply with all conditions in their Site Development Plan under PL
20220007082
4. This Agreement is personal to Pikus and cannot be assigned or transferred by Pikus
without the prior written consent from the County.
Legal Matters
5. Except as otherwise provided herein, this Agreement shall only be amended by
mutual written consent of the parties hereto or by their successors in interest. All notices and
other communications required or permitted hereunder shall be in writing and shall be sent by
Certified Mail, return receipt requested, or by a nationally recognized overnight delivery service,
and addressed as follows:
To County: To Pikus:
Collier County PFPI OZ,LLC
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11C
Attn: County Manager Attn: Matthew Pikus
3299 Tamiami Trail E, Suite 200 5290 Golden Gate Parkway, Suite 3
Naples,Florida 34112 Naples, Florida 34116
Phone: (239) 252-8383 Phone: (239)450-6324
Facsimile: (239)252-4010 Facsimile: n/a
Notice shall be deemed to have been given on the next successive business day to the date of
the courier waybill if sent by nationally recognized overnight delivery service.
6. This Agreement constitutes the entire agreement between the parties with respect to
the activities noted herein and supersedes and takes the place of any and all previous agreements
entered into between the parties hereto relating to the transactions contemplated herein. All prior
representations, undertakings, and agreements by or between the parties hereto with respect to
the subject matter of this Agreement are merged into, and expressed in, this Agreement, and any
and all prior representations, undertakings, and agreements by and between such parties with
respect thereto hereby are canceled.
6. Nothing contained herein shall be deemed or construed to create between or among
any of the parties any joint venture or partnership nor otherwise grant to one another the right,
authority or power to bind any other party hereto to any agreement whatsoever.
7. This Agreement shall be governed by the laws of Florida. In the event state or federal
laws are enacted after the execution of this Agreement, which are applicable to and preclude in
whole or in part the parties' compliance with the terms of this Agreement, then in such event this
Agreement shall be modified or revoked as is necessary to comply with such laws, in a manner
which best reflects the intent of this Agreement.
8. This Agreement shall be recorded by the County in the Official Records of Collier
County, Florida, within fourteen (14) days after the County enters into this Agreement. The
County shall pay all costs of recording this Agreement. The County shall provide a copy of the
recorded document to Pikus upon request.
9. In the event of a dispute under this Agreement, either party may file an action for
relief in the Circuit Court of Collier County as the sole and exclusive venue for any dispute
arising under this Agreement to enforce the terms of this Agreement, said remedy being
cumulative with any and all other remedies available to the parties for the enforcement of this
Agreement, with the prevailing party entitled to all costs and expenses associated with such suit,
including reasonable attorney's fees.
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IN WITNESS WHEREOF, the Parties have executed this Agreement on the date and
year first above written.
Attest:A.,
Crystal K. Kfrizel;•Clerk BOARD OF COUNTY COMMISSIONERS
COLLIE Y,FLORIDA
By: By:
Attest as to Chain$'an e u Cle Rick LoCastro, Chair
ea.._, signature oniy:, ,
II
App • irm and legality:
1 Lk
Jeffrey A!1: i.ko, County Attorney
As to PFP ' LLC
By: i 2/
S i/gna,Iu
re
P 644.I - J 0I)06
Printed Name
anaj[
Title
STATE OF FLORIDA
COUNTY OF COLLIER
The foregoing Agreement was acknowledged before me by means of physical
presence or_ online notarization, this `
M'
j
t day of Art, ) , 2023, by c- (4.-i PM
as rA a,A u q R(for PFPI OZ,LLC name)
title) pY IA 1lF$
s
oOss av
V Personally known to me OR
x ;,, 's *..
Has produced as identification s* •
sis134 '
T. x. o 4
ubl1G Undoy C3-4%
Notary name: W c N). '.. 3
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