HomeMy Public PortalAboutLegacy Place MOU_2023MEMORANDUM OF UNDERSTANDING
March 15, 2023
Subject: Legacy Place — A Residential Development
City of Crestview, Florida & Legacy Place of Crestview, LLC (the Developer)
Based upon the City of Crestview Engineering Standards Manual Chapter 5.1, this Memorandum
of Understanding is in reference to the proposed Legacy Place — A Residential Development (the
Development) and has been provided with the following acknowledgements:
• The Development generates significant traffic capacity impacts to the surrounding
roadway network and no offsite roadway improvements are proposed as part of the
Development.
• The City of Crestview is constructing offsite roadway improvements to mitigate traffic
impacts.
• The developer shall participate in cost not to exceed the total amount of $57,200 to be
held in escrow by the City of Crestview for these proposed improvements. This cost was
determined by an established per trip cost based on total average trips per day generated
by the development. The obligation to deposit the money in escrow and participate shall
occur before the Development Order is issued.
City of Crestview
1v'_aryanchrader, City Clerk
Legacy Place of Crestview, LLC
BY: Name of Representative, Title