Staff recommends the City Commission approve the request for the impact fee deferral requested by Legacy Commercial Development with the following requirements:
The City Commission on September 27, 1993 approved Ordinance 93-19, which created the financing policy for deferment of sewer and water impact fees. The proposed commercial development includes a restaurant consisting of a 5,730 square feet restaurant and 12,102 square feet of office space. The planned restaurant will seat 150 patrons. The project is located south on Highway 27, and Legacy Boulevard.
The deferral program was specifically created to assist businesses with financing of the sewer and water impact fees if they pledged to operate their business continuously and hire local employees.
1. Approve the Impact fee deferral, or;
2. Such alternative action as the Commission may deem appropriate
The total amount of deferral will be $37,975.56. The interest generated based on a 5% interest rate will result in $5,023 of interest revenue to the City.
Prepared by: ______________________
Attachments: Yes____ No ______
Advertised: ____Not Required ______
Attorney Review : Yes___ No ____
Reviewed by: Dept. Head ________
Finance Dept. __________________
Deputy C.M. _______EFS_________
City Manager ___________________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE DEFERRAL OF WATER AND WASTEWATER IMPACT FEES FOR A RESTAURANT PROJECT BY LEGACY COMMECIAL; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Leesburg, Florida has approved Ordinance 93-19, which permits financing of sewer and water impact fees for commercial development.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT an impact fees deferral is hereby approved for a project located at Highway 27
and Legacy Boulevard, with the following requirements:
THIS RESOLUTION shall become effective immediately upon its passage and adoption according to law.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the 22nd day of September 2008.