AGENDA MEMORANDUM

 

 

Meeting Date:           December 8, 2008

 

From:                          Jack Rogers, Gas Director

 

Subject:                      Resolution authorizing execution of an amendment to the Gas Service Agreement with Edencay, Inc. for Majestic Oaks Landing

 

 

Staff Recommendation:

Staff recommends approval of a resolution authorizing execution of an amendment to the gas service agreement with Edencay, Inc. for the development known as Majestic Oaks Landing.

 

Analysis:

On December 22, 2003, Edencay Inc. and the City of Leesburg entered into a Gas Service Agreement for the development known as Majestic Oaks Landing under which the developer was required to utilize natural gas from the City.  The Agreement required that seven of the nine homes within the development use natural gas by the end of five (5) years from the date of the Agreement. However, due to economic conditions the developer has only developed three of the lots.  All three use natural gas.  The developer has requested a three year extension of the term of the Agreement to afford time to complete his development. 

 

Options:

1.   Approve the resolution authorizing execution of the amendment to the gas service agreement for   Majestic Oaks Landing; or

2.  Such alternative action as the Commission may deem appropriate.

 

Fiscal Impact: 

Extension of the contract will  lengthen the projected return on investment by three years. 

 

Submission Date and Time:    12/4/2008 4:20 PM____

 

Department: ____Gas_______________

Prepared by:  _______JR_________                     

Attachments:         Yes__X_   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Attorney Review :       Yes_  No ____

                                                

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head ___JR___

 

Finance  Dept. _____________JB___                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________

 

RESOLUTION NO._______________

 

A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF LEESBURG AUTHORIZING THE MAYOR AND THE CITY CLERK TO EXECUTE AN AMENDMENT TO THE GAS SERVICE AGREEMENT WITH EDENCAY, INC. FOR THE DEVELOPMENT KNOWN AS MAJESTIC OAKS LANDING; AND PROVIDING AN EFFECTIVE DATE.

 

BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:

 

            THAT the Mayor and City Clerk are hereby authorized to execute an amendment to the gas service agreement with Edencay Inc., whose address is 712 Newell Hill Rd., Leesburg Florida, for the purpose of providing natural gas service to Majestic Oaks Landing.

 

             THAT this resolution shall become effective immediately.

 

PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the _8th day of _December, 2008

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________

City Clerk