Approval and execution of Proportionate Share Agreement for Parker Lone Palm Colonial Drive & Woodbury Road by and between Linda Joyce Parker and Orange County for a proportionate share payment in the amount of $1,224,848. District 4. (Roadway Agreement Committee)

This item approves and executes a Proportionate Share Agreement between Linda Joyce Parker and Orange County for the Parker Lone Palm development project. The agreement requires a payment of $1,224,848 from the owner to mitigate the traffic impact of 55 single-family residential units on specific segments of Colonial Drive and Woodbury Road. The project was initially denied a Capacity Encumbrance Letter (CEL) due to generating a total of 60 deficient PM Peak Hour trips across five road segments. The payment is calculated based on the projected impact of these excess trips and will be applied towards future transportation impact fees or capacity reservation fees. The agreement is effective upon execution, with the payment due within 90 days. M/I Homes of Orlando, LLC, the contract purchaser, has joined in the agreement, assuming the rights and obligations of the developer. This agreement satisfies the project's transportation improvement requirements through its buildout.