SUBJECT
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2nd Amendment to Power Line Road Northern Extension (Phase 1) Infrastructure Agreement – Cost increase in the amount of $3,250,490
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DESCRIPTION
This is a request to amend the Infrastructure & Impact Fee Credit Agreement for Power Line Road Northern Extension Phase 1. The amendment seeks to increase the agreed upon cost of the improvement from $10,805,447 to $14,055,937 (a difference of $3,250,490) to cover increased costs that have occurred due to change order requests. Exhibit “A” of the proposed amendment details the proposed change order costs. A significant amount of the cost increase is due to improvements triggered from the FDOT permit at the proposed intersection of Power Line Road and US Highway 17/92.
The original infrastructure agreement was approved by the Board on March 3rd, 2023 with the first phase of a needed north-south parallel corridor to help relieve existing and future congestion along portions of US Highway 27 and US Highway 17/92.
RECOMMENDATION
Approve 2nd Amendment to the infrastructure agreement.
FISCAL IMPACT
The proposed amendment will increase the reimbursement amount owed to the Developer by the County from $10,805,447 to $14,055,937 (a difference of $3,250,490). The funding for this project will be available on October 1, 2025, in the form of impact fee credits (25%) and cash (75%) that is available in the Roads & Drainage CIP under Developer Agreements for Road Improvement projects.
CONTACT INFORMATION
Thado N. Hays, CPM
Concurrency & Entitlements Manager
Thadohays@polk-county.net