Interoffice Memorandum
DATE: March 5, 2025
TO: Mayor Jerry L. Demings and County Commissioners
THROUGH: N/A
FROM: Joseph C. Kunkel, P.E., Director, Public Works Department
CONTACT: Jon V. Weiss, P.E., Chairman
PHONE: (407) 836-5393
DIVISION: Roadway Agreement Committee
ACTION REQUESTED:
title
Approval and execution of Amended and Restated Proportionate Share Agreement for Windermere Cay Phase 3 Ficquette Road, Reams Road, Summerlake Park Boulevard & Winter Garden-Vineland Road by and between Timberlock Partners II, LP and Orange County for a revised proportionate share payment in the amount of $1,549,434. District 1. (Roadway Agreement Committee)
body
PROJECT: N/A
PURPOSE:
The Roadway Agreement Committee has reviewed an Amended and Restated Proportionate Share Agreement for Windermere Cay Phase 3 Ficquette Road, Reams Road, Summerlake Park Boulevard & Winter Garden-Vineland Road (the "Amended and Restated Agreement") by and between Timberlock Partners II, LP and Orange County to the amend certain terms of the Proportionate Share Agreement for Windermere Cay Phase 3 (the "Existing Agreement") approved by the Board on November 15, 2019, recorded as Instrument No. 20190723069, Public Records of Orange County, Florida.
The Existing Agreement called for a proportionate share payment in the amount of $269,536, which was made by the Owner to the County, subsequently allowing for the approval of the associated Capacity Encumbrance Letter (CEL) application. The CEL approval has since expired. A revision of the CEL application was made resulting in a revised Proportionate Share Payment in the amount of $1,818,970. The previously paid proportionate share payment of $269,536 will be applied toward the revised proportionate share payment, leaving a remaining balance in the amount of $1,549,434 to be paid within 90 days of the effective date of this Amended and Restated Agreement. The expiration and revision of the CEL application necessitates the need for this...
Click here for full text