SUBJECT
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Proportionate Share Agreement with Polk Petro, LLC for the Haines City Commercial Development. (In the amount of $143,334.14 to mitigate transportation impacts.)
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DESCRIPTION
This is a request to enter into a Proportionate Share Agreement between POLK PETRO, LLC (hereinafter referred to as DEVELOPER) and POLK COUNTY in the amount of $143,334.14. The Developer is actively engaged in developing a multi-use project with a convenience store (known as Haines City Commercial) that will be located at the northwest corner of the County Road 544 and Barrington Road intersection. The proposed project will gain direct access to County Road 544, an urban collector roadway maintained by the County.
This proportionate share agreement is being entered into to help mitigate the anticipated Level-of-Service deficiency and satisfy transportation concurrency requirements for the Haines City Commercial Development. The proportionate share calculation is based upon the identified capacity improvements to the following intersections:
1. CR 544 at Detour Road (Convert from Two Way Stop Control to Signal);
2. CR 544 at Barrington Drive (Convert from Two Way Stop Control to Signal); and
3. CR 544 at SR 17 (Adjust Signal Timing).
Therefore, pursuant to Section 163.3180(5)(h), Florida Statutes, as amended, the Developer shall provide the County with proportionate share mitigation for the Excess Trips triggered by their development. The Developer and County have agreed to the total proportionate share payment of $143,334.14 necessary to mitigate the impact of Excess Trips on deficient roadways through buildout of the development, with $119,010.34 being eligible for Transportation Impact Fee Credits as provided by statute. The subject agreement satisfies the Developer's obligation for mitigation of impacts per Section 163.3180(5)(h), Florida Statutes.
RECOMMENDATION
Request the Board approve the Proportionate Share Agreement needed for mitigation of identified transportat...
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