Community Redevelopment Agency - Regular Meeting

Good morning, everyone, and welcome to our Mid Florida Event Center and to our City of Port St. Lucie Community Redevelopment Agency meeting this morning, this Monday, 10/13/2025 at 10:00AM. Madam clerk, can you please call the roll?

Miss Morgan? Yes, ma'am. Mister Pickett?

Yes, ma'am.

Chair Martin? Here, ma'am. Mister Bana?

Yes, ma'am.

Vice Chair Caravallo? Here, ma'am. Please stand for the invocation and the pledge of allegiance.

Almighty God in heaven, we ask thy blessings upon those gathered here this morning and upon all of the citizens of Port Saint Lucie. Look with favor on our leaders and give them the insights, the wisdom, and the patience to deal with the problems and tasks coming before them. Please bless their work and their deliberations. Amen.

Amen. And the pledge? I pledge allegiance to the flag of The United States Of America and to the republic for which it stands, You have additions and deletions to the agenda and approval of the agenda. We've been requested to add resolution 25 CRA-four to the agenda. So please include that with your motion counsel. Is there a motion? Motion to approve including the resolution. Second. I have a motion and a second. Any discussion?

All those in favor? Aye. Any opposed? Motion carries. Approval of consent agenda. We don't have anything on this topic at this time. Public to be heard, would anyone like to address the CRA board? Seeing no one, we'll close public to be heard. Moving on to 7a, new business, Project Dubay update. Mr. Morejo?

Thank you, President Martin, for calling this special meeting of the community redevelopment agency board. It's a very exciting day here in Porto Nusi. We look forward to finally being able to truly discuss this publicly with you, this project at the Bay. A project not only that affects Port St. Lucie, but truly it affects the county and the whole Treasure Coast.

I sincerely appreciate the cooperation between the different teams of the economic development, the Churchill Coast Sports Commission, Saint Lucie County, and your city team. I truly believe that your decision today would change the face of Walton and One. This is a historic moment for you as a board that leaves your footprint here today and for years to come. Ms. Jen Davis has been really truly been working hard in this agreement with the whole team.

She's going to be going through all the details and provide you all of that information. And at the end of her presentation we'll be glad to answer any questions that you may have. Also we have our legal team here also to discuss. With that being said, I'm going to turn it over to Jen and we'll come back to address any questions that you may have. Thank you.

Thank you. Good morning Ms. Davis. Good morning, good morning.

Thank you to the city manager and good morning to President Martin and the board. I wanna thank everyone for attending today because some of you know why you're here and then some others don't have a clue. But I wanna thank our team who has gotten us to the goal line for this event. Our Mid Florida team here who is hosting us. We had teams with communications working hard over the weekend as well as parks and recreation.

Again, all the events to get us to the point today. But it's also our project team. So I wanna thank our project team for the count countless efforts and hours on research, drafting agreements, attending meetings, sleepless nights, laughter, tears, confusion, and now excitement. As some of us might say, it's been all the feels for this project to get us to where we have been today and we're privileged to have been able to touch be touched by this project. That number of people though pales in comparison to the number of people whom this project will touch over the years as well as generations to come.

So I will leave it there for now, and we can move on as the time has come. Thank you again for calling this special meeting of the Community Redevelopment Agency Board to consider a very exciting economic development project, Project Dubay. Economic development projects come to the city in a variety of forms. Sometimes they're major manufacturers or distributors building a large scale facility here in our city. Other times they're high wage jobs through corporate head headquarter relocations or hospitals and then sometimes they're just unique and this is one of those projects.

As you may recall, a project by the name of Ebenezer came to the city in the 2023 by way of the St. Lucie County Economic Development Council. It was brought under Florida statute two eighty eight point zero seven five, which allows for projects such as this to be considered and reviewed with confidentiality provisions in place. Pete Tesh, Wes McCurry, and Jen Dubay all approached the city with a concept for a project that had yet to be considered in Port St. Lucie, and this was that project.

As we are here now, a little over two years later with a project name that has transitioned to Project Dubay. We have independently met with each of you on numerous occasions, assembled several teams to consider the financial viability of the project, to review the necessary infrastructure to support such a project and to evaluate the overall market desire to welcome a project such as this to the newly adopted Walton and One master plan, which was completed and adopted by the board in late twenty twenty three, just as this project was coming forward. The timing couldn't have been more aligned for us to have the most recent market data to consider coupled with the city's recent acquisition of the parcels just outside these doors. Land that is ready for projects such as this. As added to the agenda under Resolution 25 CRA four before you this morning is the development and funding agreement for the project.

Additional related agreements will be brought forward for consideration in the coming weeks once all items are agenda ready. Both the city of Port St. Lucie and the Port St. Lucie Community Redevelopment AG agency will be party to all agreements. Therefore, meetings will be called for both governing bodies for future action, including the required public hearings. Included with resolution 25 CRAO four is the development and funding agreement that was transitioned to you late last week. I have hard copies for you to review on the dais if requested. President and board, the time has come and we would request that the resolution title be read in by the city clerk so that I can provide further detail.

A resolution of the city of Port St. Lucie Community Redevelopment Agency authorizing the president or her designee to execute and enter into a development and funding agreement with the city of Port St. Lucie and Ebenezer Stadium Construction LLC for the construction of a stadium on the portion of the real property located within Walton and one providing for conflict, providing for severability and providing an effective date.

And now I'd like to share some of the terms of the agreement with you. As previously mentioned, this will be a tri party agreement between the city of Port St. Lucie, Port St. Lucie Community Redevelopment Agency and Ebenezer Stadium Construction LLC. The site is just under six acres located within Walton and 1.

And as mentioned in the title of the resolution, this will be for a multiuse stadium, approximately 6,000 seats with room for expansion to accommodate field sports at competitive levels, concerts, festivals and other community events. Pursuant to the agreement, the developer shall remit a $500,000 deposit within three days of the execution of the agreement. There will be a thirty day inspection period and there is a permit approval period of three sixty five days. Required for city projects, we are having the developer post a performance bond in the amount of 120% of the total estimated project cost. The developer will be funding the entire project including all cost overruns.

One year after their certificate of occupancy, the developer will be eligible to receive CRA TIF reimbursement for up to one half of the cost of the stadium and the infrastructure not to exceed 27,500,000.0. Again, is a reimbursement from the CRA not related to general fund dollars. Those reimbursement payments will take place over a period of twenty years, again following one year after the certificate of occupancy. As previously mentioned, the first agreement that's before you today is the development and funding agreement. After this meeting, we will be requesting the city council to consider the same agreement by way of ordinance.

Hopefully within the next week or so, we'll be calling an additional special meeting to consider the operating agreement and non relocation agreements for first of first reading, and it will be considered by both the CRA board and the city council. So those dates are to be determined, but we do hope that they'll be in the next couple weeks. And with that, I'm going to turn it back to the dais president and here to answer any questions.

Thank you very much counsel. Any questions?

No. With

that, is there a motion?

Motion to approve resolution 25 CRA-four. Second.

I have a motion and lots of seconds. All those in favor. Aye. Any opposed? Unanimous. Awesome. Any other issues by board members before we go right into our special city council meeting? No ma'am.

All

right. We're adjourned from this meeting.