HomeMy Public PortalAboutMOU Staybridge SuitesMEMORANDUM OF UNDERSTANDING
May 4, 2023
Subject: Staybridge Suites (the Development)
City of Crestview, Florida & Grandeur Hospitality Investments, 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 Staybridge Suites (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 $8,400 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
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: J.B. Whitten, Mayor
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hrader, City Clerk
Grandeur Hospitality Investments, LLC
BY: Navnit Patel, Member
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