Summary
The City entered into a Donation Agreement, dated September 10, 2010 and recorded in Official Records Book 4088 page 290, First Amendment dated March 27, 2012, recorded in Official Records Book 4407 page 1552 and Second Amendment dated February 22, 2016, recorded in Official Records Book 4414 page 1700 of the Public Records of Alachua County (Agreement).
Pursuant to the Agreement, copied and attached hereto, First Street Group, LLC (FSG) and 10.47, LLC (10.47), collectively (Donors), transferred to City real property in the City, the (TK Basin Tract), for use as a stormwater collection basin to support the development of commercial properties in the immediate area.
The City has met all its responsibilities called for in the Agreement as have Donors, except for the donation to of a 2.79 acre parcel to the City encircling the basin that was to be developed as an upland park and facilities. The City and Donors mutually recognize and agree that the contemplated commercial developments in the area are not to be constructed in the near future, a road extension planned to support the Park will not soon be constructed, the planned park and facilities are not needed and their construction at this time will create wasteful maintenance and the deterioration of the facilities.
It is important to note the Declarations of Covenants, Conditions and Restrictions for the benefit of Alachua County, recorded in Official Records Book 4393, page 323 and in Official Records Book 4393, page 344 do not encumber or affect the Park property that is the subject of the Agreement.
Therefore, City staff in the best interest of the City, has negotiated a settlement of the Agreement with Donors to resolve all matters, as more specifically set forth in the attached Settlement Agreement, by the City releasing Donors from all obligations pursuant to the Agreement upon Donors delivery to City of a payment of $40,000 to compensate for the non delivery of the park facilities and two deeds to the City conveying the Park Tract. | | |