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County approves up to $2 million in water/sewer support for River Birch redevelopment
Summary
The Board approved an interlocal agreement with the City of Sanford to reimburse developer Casto for water and sewer infrastructure work at River Birch Shopping Center, committing up to $2,000,000 contingent on project milestones and city audit of invoices.
Lee County commissioners voted to approve a resolution authorizing an interlocal agreement with the City of Sanford to assist in funding water and sewer infrastructure for the River Birch Shopping Center redevelopment. Under the agreement, the developer (Casto) will front infrastructure costs and submit documented invoices for reimbursement; the county’s contribution is up to $2,000,000 and the city’s contribution was described as roughly $4.4 million in the packet. Reimbursement is conditioned on both anchor tenants (a Target and a new‑to‑market grocery) opening to the public; the city will audit and forward documents to the county for payment.
Staff said the county can fund water and sewer infrastructure and that the reimbursement terms would be tied to accomplishing the developer’s schedule and project milestones. Commissioners asked no substantive questions and the resolution passed by voice vote.
Staff said the interlocal agreement is structured so the county’s obligation is contingent on verification of project completion and opening of anchor stores; financial reports and invoices will be audited by the city and county before any reimbursement. The board’s motion authorizes the county manager to execute the interlocal agreement and move forward with the reimbursement process as documents are audited.
