Lake Pickett South Transportation Term Sheet Orange County BCC September 15, 2015

Presentation Outline  Background  Term Sheet Overview  Requested Action

Background  July 28, 2015 Public Hearing  Lake Pickett North ( A-5-2) withdrew  Board vote to transmit Lake Pickett South ( A-5-1)  Transportation mitigation deal points unresolved  BCC directed staff to bring back term sheet for direction at a future BCC meeting

P-FLUE-1 General Location

Background  Identify preliminary impact area 1% Development Program Lake Pickett South 1,856 SFR 400 Townhomes 230,000 Commercial 7,000 Office

Background  Identify preliminary impact area 78% 4% 5% 8% 3% 7% 55% 1% Trip Distribution Lake Pickett South 78% 63% 60%

Background  Identify preliminary impact area Future (2030) Conditions LOS With LPN/LPS

Term Sheet Overview  Monetary contribution to area needed transportation infrastructure – Contribution substantially greater than transportation impact fees  Roads first – Trip thresholds – Caps on building permits  Concurrency satisfaction

Term Sheet Overview  Traffic studies showed proportionate share of impacts ranging from $20-35M  $28.0M mitigation obligation offered by LPS – $16.0M for SR 50 – $12.0M for Chuluota Road  Other transportation needs to be addressed by County

 SR 50 Avalon Park Blvd to Chuluota Road – FDOT to complete Design and Permitting by August 2016 – No ROW needed – CST funding not in adopted 5-year WP – FDOT to refund County when funding otherwise available Term Sheet Overview

 Chuluota Road SR 50 to Lake Pickett Road – No studies conducted – Total project cost estimated to be $14.8M – LPS funding anticipated to be available in November 2020 – RCA, DEP, and ROW to be funded by County (3.5 years to complete)

Term Sheet Overview  Trip thresholds limit development activity based on mitigation payments and road construction  Additional cap on residential building permits – 180 year 1 after SR 50 is funded – 200 per year until Chuluota Road is funded ThresholdLPS Obligation Number of Trips Released % of Total Trips Released AFund $16.0M for SR % BSR 50 50% complete2508.5% CSR % complete67123% DFund $12.0M for Chuluota Road 1,74660%

Term Sheet Overview  Release of trips demonstrates satisfaction of the County’s concurrency requirements  Concurrency approval to be demonstrated at plat approval (not plat submittal)

Requested Action  Board direction regarding major roadway agreement conditions for incorporation into a Road Network Agreement with Lake Pickett South. District 5