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HomeMy Public PortalAboutMOU Pink Periwinkle BeadsMEMORANDUM OF UNDERSTANDING September 26, 2023 Subject: Pink Periwinkle Beads Office Facility City of Crestview, Florida & Lily Chartier, INC. Based upon the City of Crestview Engineering Standards Manual Chapter 5.1, this Memorandum of Understanding is in reference to the proposed Pink Periwinkle Beads Office Facility 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 $625.00 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 Crests iQ �0.. 3--©�3 Lily Chartier, INC BY: Wayne'o-Ag, 'ice President