A Settlement Agreement and Release has been executed by Palm Realty Inc., Fischer Sand & Aggregate, LLC, and Arcon Land IV, LLC, setting forth the terms of a settlement of the lawsuit involving park dedication fees related to the plats of Cortland Addition(s) and Embry Place.

The Settlement Agreement and Release is presently not public data. As a result, the item is listed on the Consent Agenda and the packet includes an explanatory memo by the City Attorney. The Settlement Agreement and Release document will be distributed to members of the Council ahead of the meeting for their consideration. The document itself will be made available to the public at the meeting, prior to a vote.

Due to the existing litigation, if a councilmember wishes to ask questions or discuss any issue with respect to the litigation or the terms of the Settlement Agreement and Release, it is appropriate to remove the item from the Consent Agenda and move to close session for that purpose. The decision to approve or reject the Settlement Agreement and Release must be made in open meeting.

This agreement stems from discussions between the attorneys for the plaintiffs and the City attorneys and administration. If you have any questions regarding the content hereof or the process for approval, please City Attorney Michael Dougherty.