The city commission approved a contract with the Ravaudage developer in November 2017 to share costs on road improvements for right of ways acquired by the city when the Ravaudage land was annexed into the City of Winter Park in 2012. See page 27 here.
The developer will pay for at least 50% of the cost to upgrade these city roads to standards exceeding city requirements, including provisions for paving, storm drainage, and curbing, all subject to city approvals. The city’s obligation is capped at $1.2 million over ten years.
Reimbursement from the city can only come from unrestricted permit fees and incremental property taxes paid by the developer. The total unrestricted building permit fees for the Ravaudage build out exceed $3.3 million, providing ample funds to cover the city’s share of road improvement costs. NO CITY REVENUES OTHER THAN THOSE COMING FROM UNRESTRICTED PERMIT FEES AND PROPERTY TAXES PAID FROM WITHIN THE RAVAUDAGE DEVELOPMENT WILL BE SPENT FOR THE ROAD IMPROVEMENTS.
Click the image below for a map of the Ravaudage roads acquired by the city in annexing the Ravaudage land. The gray lines show the original plated roads acquired by the city. The city assumed responsibility for maintenance of these rights of way in annexing the property.
A good deal for Winter Park: the developer pays for over 50% of the cost of improvements for roads the city is responsible for, and the city pays for 50% or less of the cost only from permit fees and taxes paid from the development.
Regards, Pete Weldon