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Agenda 07/22/2008 Item #10GAgenda Item No. 10G July 22, 2008 Page 1 of 2 EXECUTIVE SUMMARY Recommendation that the Board of County Commissioners approve a budget amendment to recognize revenue from Lodge Abbot Associates, LLC in the amount of $3 million dollars and appropriate within Fund (313). The funds will be used for the Vanderbilt Drive corridor improvements and bridge enhancements that resulted from the settlement of "Lodge Abbott Associates, LLC v. Collier County, Case No. 05- 967 -CA ". OBJECTIVE: To recognize revenue from Lodge Abbot Associates, LLC for the Vanderbilt Drive corridor improvements and bridge enhancements in the amount of $3 million dollars and appropriate within Fund 313. CONSIDERATION: The Board of County Commissioners approved a Settlement Agreement and Release with Lodge Abbott Associates, LLC ( "Lodge Abbott ") (owner of the Cocohatchee Bay Planned Unit Development) to resolve alleged claims, including an alleged Bert Harris Act claim purportedly arising from the denial of an amendment to the Cocohatchee Bay PUD to modify the Bald Eagle Management Plan, and Lodge Abbott Associates, LLC v. Collier County, Case No. 05- 967 -CA. As part of the settlement, $3 million dollars was committed to fund bridge and pathway improvements within the Vanderbilt Drive corridor. FISCAL IMPACT: A budget amendment is needed to recognize the $3 million dollars, and appropriate within the Transportation Services Vanderbilt Drive Improvements in Fund (313). The funds will pay for the County's share of the Vanderbilt Drive bridge improvements and the remaining funds will be used to enhance the pathway system within the corridor. GROWTH MANAGEMENT IMPACT: There is no Growth Management Impact associated with this Executive Summary. RECOMMENDATION: That the Board of County Commissioners approves the necessary budget amendment to recognize the $3 million dollars in additional revenue and appropriate within the Transportation Services Vanderbilt Drive Improvements in Fund (313). Prepared By: Nick Casalanguida, Director, Transportation Planning Page 1 of 1 Agenda Item No. ll July 22, 2008 Page 2 of 2 file://C:AAgendaTest \Export\ 1 11- July %2022, %202008\ 10 %2000(JNTY%20MANAGER %... 7/15/2008 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: 10G Item Summary: Recommendation that the Board of County Commissioners approve a budget amendment to recognize revenue from Lodge Abbot Associates. LLC in the amount of $3 million dollars and appropriate within Fund (313). The funds will be used for the Vanderbilt Drive corridor improvements and bridge enhancements that resulted from the settlement of Lodge Abbott Associates, LLC v. Collier County, Case No 05- 967 -CA. (Norman Feder. Transportation Services Administrator) Meeting Date: 7/22/2008 9:00'.00 AM Approved By Nick Casalanguida MPO Director Date Transportation Services Transportation Planning 6/1912008 5:00 PM Approved By Norm E. Feder, AICP Transportation Division Administrator Date Transportation Services Transportation Services Admin. 6124/2008 10:14 AM Approved By Sharon Newman Accounting Supervisor Date Transportation Services Transportation Services Admin 613012006 1:55 PM Approved By Gloria Herrera Management/Budget Analyst Date Transportation Services Stormwater Management 7/2/2008 11:07 AM Approved By Pat Lehnhard Executive Secretary Date Transportation Services Transportation Services Admin 71212008 1:39 PM Approved By OMB Coordinator OMB Coordinator Date County Manager's Office Office of Management & Budget 7/3/2008 8:34 AM Approved By Susan Usher Senior Management/Budget Analyst Date County Manager's Office Office of Management & Budget 71812008 12:14 PM Approved By James V. Mudd County Manager Date Board of County Commissioners County Manager's Office 7/8/200812:25 PM file://C:AAgendaTest \Export\ 1 11- July %2022, %202008\ 10 %2000(JNTY%20MANAGER %... 7/15/2008