Sarasota County Schools
Agenda Item #12
Title
APPROVAL OF AGREEMENT FOR REFUND OF EDUCATIONAL SYSTEM IMPACT FEES
Description
In July 2007 the developer of Jacaranda Trace Condominium Phase II, a 201-unit retirement community, paid $95,274 in school impact fees at the time they received their Certificates of Occupancy. In August the developer discovered that the Educational System Impact Fee ordinance requires that any "housing for older persons" impact fee exemption will be received prior to CO. The developer's subsequent exemption request has been approved, and they have now requested a refund of the paid fees. The developer has agreed to accept $90,000.00, with the difference allocated to administrative costs and legal fees. The attached Agreement authorizes the refund.
Recommendation
That the School Board of Sarasota County authorize an Educational System Impact Fee refund to Jacaranda Trace, LTD., in the amount of $90,000.00.
Contact
LEMPE & MARSH
Financial Impact
N/A
Attachment: Jacaranda Trace agreement.pdf