PLACEMENT: Departmental
TITLE:
title
BRIGHTLINE UPDATE
end
EXECUTIVE SUMMARY:
executive summary
Staff is requesting the Board of County Commissioners to consider approving the First Amendment to the Settlement Agreement with Brightline and the Property Transfer Agreement with the City of Stuart. At the time of publication of this agenda the above referenced documents were still being finalized. A Supplemental Memo will be provided with the final agenda.
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DEPARTMENT: Administration
PREPARED BY: Name: George Stokus
Title: Assistant County Administrator
REQUESTED BY: Martin County Board of County Commissioners
PRESET:
PROCEDURES: None
BACKGROUND/RELATED STRATEGIC GOAL:
On October 23, 2023, Brightline Trains Florida LLC (Brightline) issued a Treasure Coast Request for Proposals (RFP) for the location of a train station in either Martin or St. Lucie Counties. Martin County and the City of Stuart approved an Interlocal Agreement dated December 12, 2023 regarding a joint proposal to Brightline’s RFP for a train station and parking garage on three County owned parcels. In December of 2023, Martin County and the City of Stuart jointly submitted a proposal to Brightline pursuant to such Interlocal. On March 4, 2024, Brightline Trains of Florida formally announced that it had selected Stuart as the site for its next intercity passenger rail station. Brightline included in its notice of selection an extensive list of terms including amendment of the County and Brightline’s November 25, 2018 Settlement Agreement and requiring the transfer of an additional parcel from the County to the City for a lease with Brightline for the development of Transit Oriented Development.
I. Issues
First Amendment to the November 25, 2018 Settlement Agreement
1. Agreement/Contract drafted by: Martin County Attorney and Brightline General Counsel
2. Parties to the Agreement/Contract: Martin County and Brightline Trains of Florida LLC
3. Purpose of the Agreement/Contract: To amend the November 25, 2018 Settlement Agreement to include the selection of Stuart for the train station including the joint proposal and address requested modifications outlined in Brightline’s notice of selection.
4. New/Renewal/Modification: Modification
5. Duration:??
6. Benefits to Martin County: Brightline agrees to:
• Allow the County’s potential construction of an aerial pedestrian bridge over FEC ROW at a location in Stuart.
• Install fencing per the RAISE Trespassing Prevention Project and additional 4,390.49 feet of fencing requested by Martin County Public Works.
• Construct and operate a train station in the City of Stuart with 2 northbound and southbound trains stopping daily.
• Acknowledge that the County’s $15 million dollar payment to the City and transfer of 3 County parcels to the City for the train station and parking garage satisfies the previous agreement by the County to pay up to 50% of the station cost upon Brightline’s request.
• Design a parking garage that will accommodate a future pedestrian overpass.
7. Cost to Martin County: $0.00
II. Property Transfer Agreement
1. Agreement/Contract drafted by: County Attorney
2. Parties to the Agreement/Contract: Martin County and City of Stuart
3. Purpose of the Agreement/Contract: To provide the terms and conditions for the conveyance of three County parcels to the City for a train station and parking garage and the option to convey an additional parcel for transit oriented development upon the satisfaction of certain conditions.
4. New/Renewal/Modification: New
5. Duration: 5 years for properties; 10 years for Conditional Parcel
6. Benefits to Martin County: Allows for the construction of a Brightline Train Station and Parking Garage in the City of Stuart providing passenger rail service to our residents.
7. Cost to Martin County: Land is currently valued at approximately $2,750,000 with no Ad Valorem Revenue. If transferred the property will generate Ad Valorem Revenue based on physical plant improvements of approximately $45,000,000.
ISSUES:
Martin County is responsible for $15mm towards the construction of the Brightline Station. Staff has met with Brightline and has determined that $2.2mm will need to be made available for permitting and design which will occur over the next 13 months. Staff has set aside this funding and will return to the Board of County Commissioners in a separate agenda item for the remaining $12.8mm. Staff is working with our financial advisor to determine the best funding instrument (Private Commercial Lending or Municipal Bond) to be used for the $12.8mm and will be consulting with outside counsel to draft an amenable funding agreement with the City of Stuart based on the selected funding instrument.
LEGAL SUFFICIENCY REVIEW:
This item has been reviewed for legal sufficiency to determine whether it is consistent with applicable law, has identified and addressed legal risks, and has developed strategies for legal defensibility.
RECOMMENDED ACTION:
RECOMMENDATION
Move that the Board approve First Amendment to the Settlement Agreement and Property Transfer Agreement.
ALTERNATIVE RECOMMENDATIONS
Provide staff with alternative direction.
FISCAL IMPACT:
RECOMMENDATION
None
|
Funding Source |
County Funds |
Non-County Funds |
|
Capital Reserves and loan proceeds to be acquired via RFP (to be determined) |
$15,000,000 |
|
|
|
|
|
|
|
|
|
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Subtotal |
$15,000,000 |
|
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Project Total |
$15,000,000 |
ALTERNATIVE RECOMMENDATIONS
None
DOCUMENT(S) REQUIRING ACTION:
☐Budget Transfer / Amendment ☐ Chair Letter ☒Contract / Agreement
☐Grant / Application ☐Notice ☐Ordinance ☐Resolution
☐Other:
This document may be reproduced upon request in an alternative format by contacting the County ADA Coordinator (772) 320-3131, the County Administration Office (772) 288-5400, Florida Relay 711, or by completing our accessibility feedback form at www.martin.fl.us/accessibility-feedback <http://www.martin.fl.us/accessibility-feedback>.