Interoffice Memorandum
DATE: January 21, 2026
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Joseph C. Kunkel, P.E., Director, Public Works Department
CONTACT: Renzo Nastasi, AICP, Chairman
PHONE: (407) 836-7964
DIVISION: Roadway Agreement Committee
ACTION REQUESTED:
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Approval and execution of (1) Alternative Mitigation and Proportionate Share Agreement for Silver City Properties, LTD. - Full Sail Student Housing Aloma Avenue and Semoran Boulevard by and between Silver City Properties, LTD. and Orange County to provide for a proportionate share contribution in the amount of $1,961,386 to be applied towards a pedestrian bridge over University Boulevard and (2) Escrow Agreement by and among Silver City Properties, LTD., Orange County, and Orange County Comptroller to hold funds and disburse payments associated with approved costs for the pedestrian bridge. District 5. (Roadway Agreement Committee)
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PROJECT: N/A
PURPOSE:
The Roadway Agreement Committee has reviewed two agreements related to a proposed Full Sail Pedestrian Bridge over University Boulevard. While the construction of the pedestrian bridge is proposed to be subject to a separate Pedestrian Bridge Agreement (Construction, Operation, Maintenance and Ownership), there are two agreements addressing the County’s financial contribution to this public project. The first is the Alternative Mitigation and Proportionate Share Agreement for Silver City Properties, LTD. - Full Sail Student Housing Aloma Avenue and Semoran Boulevard (the “Alternative Mitigation Agreement”) by and between Silver City Properties, LTD. and Orange County. The second is the Escrow Agreement (the “Escrow Agreement”) by and among Silver City Properties, LTD. (Owner), Orange County and Orange County Comptroller (Escrow Agent).
As detailed in the Alternative Mitigation Agreement, the Owner proposes to develop a mixed-use student housing project consisting of up to 1,800 beds and 6,375 sq. ft. of commercial uses on a 13.1-acre site on University Boulevard, east of Semoran Boulevard, and west of North Forsyth Road. In conjunction with the project referred to and known as “Silver City Properties Apartment Development”, the Owner is constructing a pedestrian bridge over and across University Boulevard for use by both students of Full Sail and the public. The pedestrian bridge has been determined by the County Engineer as impact fee eligible pursuant to Section 23-97(b)(2)(ii)(p) of the Orange County Code, as “Pedestrian bridges” are transportation facilities for which transportation impact fees may be used.
The developer has completed a traffic study consistent with the County’s transportation concurrency process and is required to provide a Proportionate Share (PS) payment in the amount of $1,961,386. Pursuant to Section 163.3180(5)(h), Florida Statutes, an applicant may mitigate capacity deficiencies by entering into a proportionate share agreement and contributing a proportionate share payment or construct its proportionate share of required improvements. The Alternative Mitigation Agreement provides for the mitigation of road impacts for 17 deficient trips on the road segment of Aloma Avenue from Lakemont Avenue to Semoran Boulevard in the amount of $39,732 per trip, 19 deficient trips on the road segment of Aloma Avenue from Semoran Boulevard to Tangerine Avenue in the amount of $28,868 per trip, and 35 deficient trips on the road segment of Semoran Boulevard from University Boulevard to the Seminole County line in the amount of $21,070 per trip. The Owner shall be awarded transportation impact fee credits in the amount of $1,961,386.
The County does not have plans within its Long-Range Transportation Plan to further improve several of the deficient segments identified within the Roadway Concurrency Analysis Study Area. However, consistent with the County’s “Vison Zero” initiative of prioritizing pedestrian safety and pursuant to the County’s University Boulevard Pedestrian/Cyclist Safety Study, the County has plans to install and construct certain pedestrian safety improvements within the Traffic Study area, including at-grade pedestrian crosswalks, including a pedestrian crossing in the general location of the proposed pedestrian bridge. The proposed pedestrian bridge will be a safer crossing option than at grade crosswalks.
In lieu of the County applying the PS payment toward traffic capacity improvements, the Owner is committing to deliver a pedestrian bridge over University Boulevard, including all structural elements and appurtenant improvements that will meet or exceed the Florida Department of Transportation standards pursuant to the Pedestrian Bridge Agreement (Construction, Operation, Maintenance and Ownership. The Owner shall, within 14 days following the Effective Date of the Escrow Agreement, deliver a check to the County in the amount of the PS amount to be placed in an Escrow Account with the Orange County Comptroller, serving as “Escrow Agent”, and be dispersed back to the constructing owners in accordance with the Escrow Agreement. The Escrow Agent shall disburse 25 percent of the funds to the Owner upon issuance of the Building Permit for the Alternative Mitigation Improvement (Pedestrian Bridge), and the remaining 75 percent of the funds shall be disbursed upon issuance of the Certificate of Completion.
While the cost of design and construction of the pedestrian bridge will exceed the PS amount and will ultimately be owned by the County, the Owner and the County agree that the County shall not be responsible for a financial contribution in excess of the PS amount and that no additional impact fee credit(s) will be provided for the costs above the PS amount. Additionally, if construction of the bridge does not commence within two years, the County may request all escrowed funds held by the Comptroller to be released to the County.
The Roadway Agreement Committee recommended approval of the Alternative Mitigation Agreement and Escrow Agreement on January 7, 2026. The Specific Project Expenditure Report and Relationship Disclosure Forms are on file with the Transportation Planning Division.
These agreements are to be considered concurrently with the related Pedestrian Bridge Agreement (Construction, Operation, Maintenance and Ownership) and Escrow Agreement for Full Sail Student Housing Development Pedestrian Bridge on the Board’s February 10, 2026 agenda. All four agreements must be approved together.
If you have any questions, please feel free to contact me at 407-836-7964.
BUDGET: N/A