SUBJECT:
Title
Walk On - Board Consideration and Approval of a Settlement Agreement Between Ocala Trophy, Ltc. and Marion County (Budget Impact - Neutral; estimated $52,000)
Body
INITIATOR: DEPARTMENT:
Matthew G. Minter, County Attorney Attorney
DESCRIPTION/BACKGROUND:
On September 9, 2022, the County, the City of Ocala (Ocala) and Ocala Trophy, Ltc. (OTL) entered into a Road Re-Alignment, Contribution and Construction (RACC) Agreement which among other things provided for a property swap between Ocala and OTL, and OTL’s dedication of certain right of way and easements to the Marion County (County), for the County’s construction of a new road facility, SW 40th Avenue, Phase 1, between SW 43rd Street Road and SW 66th Street.
Under the RACC Agreement, the County was to commence construction of the road project by September 30, 2023. The County has not yet commenced construction of the road project, and is thus out of compliance with the RACC Agreement, giving OTL a right to bring suit against the County to enforce the Agreement.
The County Engineer and the County Attorney have been in discussions with counsel for OTL and the parties have developed the attached Settlement Agreement to resolve this dispute and establish a revised performance schedule for the County’s obligations under the RACC Agreement. The Settlement Agreement calls for the County to construct a Temporary Access Road to the OTL property by February 4, 2025, and to complete the road project by July 1, 2026.
The County agrees to reimburse OTL for its reasonable engineering fees and attorney’s fees incurred in evaluating and developing this Settlement Agreement. Failure of the County to meet the new schedule will expose the County to liquidated damages of $300/ day until project completion. It is the opinion of the County Engineer and County Attorney that this is a cooperative and reasonable resolution of this dispute. We recommend approval of the Settlement Agreement.
BUDGET/IMPACT:
Neutral; estimated $52,000
RECOMMENDED ACTION:
Recommended action
Motion to Approve Settlement Agreement.
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