RESOLUTION APPROVING THE FIRST AMENDMENT TO JOINT DEVELOPMEN

Board of County Commissioners · 2026-06-16 · resolution

Resolution approving the First Amendment to the Joint Development Agreement with Out of Foster Foundation, Inc. and RES-DES Palmetto, LLC for the Palmetto Station Transit-Oriented Development Project; approving a Phase I Ground Lease Agreement; approving a revised Master Plan and Project Schedule; authorizing execution of future ancillary agreements. The project is a mixed-use transit-oriented development on County-owned property surrounding and adjacent to the Palmetto Metrorail Station. The First Amendment restructures the project to permit the Developer and affiliated entities to enter directly into ground leases with the County for each project phase, preserving the Foundation's role for youth housing operations and community programming. The project will include a minimum of 929 workforce and community housing units, with an optional future third phase containing a minimum of 212 additional community housing units. Development includes workforce housing, military housing, transit operator housing, youth housing, community-oriented commercial space, community office space, station improvements, structured parking, and transit-supportive infrastructure. A minimum of 550 dedicated transit-user parking spaces will be preserved for DTPW and Palmetto Metrorail Station patrons. Parking facilities will be constructed, owned, operated, and maintained by the Developer at no cost to the County. The County will receive lease revenues and other economic consideration, incurring no responsibility for vertical construction costs, parking facility construction costs, financing obligations, or operational expenses. The Board of County Commissioners approved the resolution as amended on 6/16/2026, passing 12-0, and assigned Resolution No. R-557-26. The Transportation Committee forwarded it to the BCC with a favorable recommendation on 6/9/2026. The item was introduced on 6/5/2026. Commissioner Bermudez noted the item was time sensitive. No public comment or stakeholder sentiment is stated in the document.