09-22-2015 Special School Board Meeting
Agenda Item #22


Title
Consolidated Mitigation and Concurrency Agreement with The Viera Company

Discussion

School District staff and the School Board Attorney have negotiated a proposed agreement with The Viera Company to mitigate the impact to the School District of approximately 11,000 additional residential units in Substantial Deviation #2 to The Viera Company's Development of Regional Impact (DRI), known as "Viera West". This agreement incorporates and modifies the previous agreements between the School Board and The Viera Company for the original DRI and Substantial Deviation #1 for the currently approved 18,945 residential units.

Because the Brevard County Commission manages concurrency programs within the county, it was necessary for the Brevard County Commission to consent to, and join with, this concurrency mitigation agreement.  At their meeting on August 18, 2015 the Brevard County Commissioners voted unanimously to join the agreement.

Essential Elements of the Agreement

  1. Under the existing agreement, The Viera Company receives credits for School Impact Fees collected within the Viera DRI for the value for five of the six school sites required to be provided for the original DRI and SD #1. The proposed agreement waives the School Impact Fee credits for the remaining two sites (the middle school site immediately north of Viera HS and a future elementary school site).   
  2. The proposed agreement requires four school sites for SD #2 (two elementary schools, one middle school and one high school).  School Impact Fees credits are waived for these four school sites.   
  3. The waived School Impact Fee Credits must be used for new capacity within the Viera DRI, up to the value of the school site(s).  School Impact Fees generated within the Viera DRI in excess of the value of the school site(s) provided may be used for new capacity anywhere within the School Impact Fee Benefit District.
  4. The total estimated value of the waived School Impact Fee credits is $15,000,000 to $20,000,000 depending on the timing and location of the school sites provided.
  5. The total estimated value of the School Impact Fees for the remaining residential units within the Viera DRI is $50,000,000 to $70,000,000 depending on the number of single family units versus multi-family units and the number of exempt units (55+).  
  6. The Viera Company is obligated to pay for all costs associated with the infrastructure necessary to service the school sites provided (roads, water, sewer, drainage, etc.).

Attachment: Viera DRI Agreement



Recommendation
Approve the attached Consolidated Mitigation and Concurrency Agreement Regarding School Facilities for the Viera Development of Regional Impact between the School Board and The Viera Company.

Meeting Date(s)
Information - 9/8/2015
Consent after Information9/22/2015

Authority for Action
1001.42 F.S.

Involves Expenditure of Funds Directly in the Classroom
No

Source of Funding
Agenda Item will not Require the Expenditure of Funds

FY
Amount
Budgeted
Fund
Cost Center
Project
Function
Object
Program

Contact
Dane Theodore, Assistant Superintendent / Facilities Services 633-1000 x450


Attachment:  Viera DRI Agreement.pdf