Bill Type and Number: Ordinance 2007-45

Sponsor: LUZ Committee

Date of Introduction: January 9, 2007

Committee(s) of Reference: LUZ

Date of Analysis: January 12, 2007

Type of Action: Extension of concurrency reservation agreement

Bill Summary: The bill approves an extension of the City’s concurrency reservation agreement with BRC Florida Holdings, LLC for traffic circulation capacity for a development west of Interstate 95 and south of Duval Place West. The bill extends the concurrency reservation expiration date from January 1, 2006 to January 1, 2009. BRC Florida Holdings agrees to pay a concurrency reservation fee for each additional year until the development is completed.

Background Information: The parcel in question is approximately 8 acres zoned for commercial/industrial use. The original concurrency reservation agreement was entered into in February 2001. BRC has completed a Phase 1 of 182,000 sq. ft. of space and has sold land in Phase 2 for construction of 85,000 enclosed sq. ft. Approximately 30,000 sq. ft. of development rights remain in Phase 1, and an additional 60,000 sq. ft in Phase 2.

Policy Impact Area: Concurrency reservation

Fiscal Impact: An undetermined concurrency reservation fee will be paid to the City each year to extend the reservation.

Analyst: Clements