HomeMy Public PortalAboutMOU Garden Villa TownhomesMEMORANDUM OF UNDERSTANDING
December 20, 2023
Subject: Garden Villa Townhomes (the Development)
City of Crestview, Florida & Coastal Palms Partners 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 Garden Villa Townhomes (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 $73,600.00 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 monev in escrow and'narticioate shall
occur before the Development Order is issued.
City of Crest y ew
BY: At —Whitten, Iviay or
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Mai an�ie hrader, City Clerk
Coastal Palms Partners LLC
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3Y: Keith Clark, Title Manager
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