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 the Phase I Ground Lease Agreement; authorizing the County Mayor or designee to execute same; approving revised Master Plan and Project Schedule; authorizing execution of future ancillary agreements and related documents; and authorizing all actions necessary to implement the project. 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 relating to youth housing operations and community-oriented programming. The project will include a minimum of 929 workforce and community housing units, with an optional future phase containing a minimum of 212 additional community housing units. The development will include workforce housing units, military housing units, transit operator housing units, youth housing units, community-oriented commercial space, community office space, station improvements, structured parking facilities, transit-supportive infrastructure, and related public improvements. The development will preserve a minimum of 550 dedicated transit-user parking spaces for the exclusive use of DTPW and patrons utilizing the Palmetto Metrorail Station. Parking facilities will be constructed, owned, operated, and maintained by the Developer or applicable leasehold tenant at no cost to the County. The County will receive lease revenues and other economic consideration while incurring no responsibility for vertical construction costs, parking facility construction costs, financing obligations, or operational expenses. The resolution was amended and passed by 12-0 on 6/16/2026, assigned Resolution No. R-557-26. The Transportation Committee forwarded it to the BCC with a favorable recommendation on 6/9/2026. Commissioner Bermudez noted the item was time sensitive. No public comment sentiment is stated in the document.