- December 20, 2024
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The Flagler County School Board agreed to a second amendment to its impact fee credit agreement with the developer of Hunter’s Ridge. New board member Derek Barrs warned there won’t be a third.
U.S. Capital Alliance LLC Manager Glen Fishman requested an extension to Dec. 15 to pay the amount owed of 1,344,100 plus 6% interest ($69,000).
The first amendment in August called for U.S. Capital Alliance to pay $500,000 by Aug. 23, which the school district received and the remaining $1,413,100 by Oct. 31.
Fishman asked the board for an extension at its Nov. 12 workshop to pay all fees and interest.
As the board discussed the amended agreement, Barrs said, “We’re not going to continue down this road any further after this.”
A week after the second amendment was discussed, Fishman said he is still very comfortable with making the Dec. 15 deadline.
U.S. Captial Alliance agreed on May 16, 2022 to pay Flagler Schools $3 million relating to the part of the Hunter’s Ridge development in south Flagler County. Of that amount, $2 million was for impact fee credits with $1 million paid as a donation in return for Flagler Schools consenting to the developer’s notice of a proposed change to terminate its obligation to provide the district with a 45-acre school site.
The developer made payments of $534,600 on June 20, 2022, and $621,300 on May 11, 2023, totaling $1,155,900 with the remainder of the $3 million due by Nov. 16, 2023.
If the developer does not meet the deadline, the school district could request that Flagler County ceaseissuance of permits or approvals for the project until the developer comes into full compliance.
