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May 22, 2025 City Council Regular Meeting | |
Title 45. Authorize the City Manager to Execute a Development Agreement with Hutchinson Island Apartments, LLC. | |
Strategic Priority Infrastructure | |
Description Hutchinson Island Apartments (The Daniel Corp.) is developing a new apartment complex along Grand Prize of America Avenue on Hutchinson Island. This section of public roadway has a history of flooding and is in need of drainage improvements as well as street improvements such as striping, speed limit signage, and more. The apartment project is nearing completion and The Daniel Corp. has petitioned the City to enter into a Development Agreement to expedite drainage and street improvements to Grand Prize of America Avenue. These infrastructure improvements were not part of the 2025 capital plan, so The Daniel Corp. has agreed to pay for engineering and construction plans (estimated cost of $50,000) as well as any construction costs exceeding $450,000 up to a maximum of $500,000 (thus a cap of $50,000) to expedite the work. The City will fund its portion of the drainage work through its annual contractor – Southern Champion. The City will deploy staff to install the thermoplastic street striping, signage, and associated street work after the drainage work has been completed. | |
Recommendation Approval | |
Contact David Keating, Senior Director of Real Estate Administration | |
Financial Impact $450,000 | |
Review Comments | |
Attachments Exhibit 1 - I Map.pdf Exhibit 2 - Daniel Signed DA.pdf |
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