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Reimbursement of Costs Per Sherman Oaks Water and Sewer Service Agreement With Hernando County Water and Sewer District, LPI Real Estate and Partnerships, LLC, and PPG Sherman Oaks, LLC
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BRIEF OVERVIEW
The Sherman Oaks Water and Sewer Service Agreement with LPI Real Estate and Partnerships, LLC (Owner) and PPG Sherman Oaks, LLC (Developer) was approved by BOCC July 13, 2021, MinuteTraq ID 18571. The Hernando County Water and Sewer District and Hernando County agreed to reimburse the Developer for the following:
A. $115.00 per linear foot, installed price, for the ductile iron pipe used in the construction and installation of the 10-inch diameter raw water main.
The actual price billed is $90.61 per linear foot.
B. $3,835.00 for the exclusive perpetual water and sewer utility easements for the raw water main within the common areas of the project.
The Developer, PPG Sherman Oaks, LLC has completed the construction of Utility System Improvements and submitted their invoice in the amount of $99,250.50, per the agreement.
FINANCIAL IMPACT
Funds in the amount of $99,250.50 are available in the following account:
Fund: 4121 - HCUD Renewal and Replacement, Department: 07201 - Renewal and Replacement, Account: 5626303 - Improv-Wtr Plnt/Well/Storage.
LEGAL NOTE
The Board has the authority to act on this matter pursuant to Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended the Board approve payment to PPG Sherman Oaks, LLC in the amount of $99,250.50 per the invoice dated August 21, 2024.