DATE: January 16, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
David Parker, City Engineer
Paul P. Holzen, Director of Engineering
SUBJECT:
Discussion Concerning the Harpeth Square Development Draft Road Impact Fee Agreement and Recovery Agreement.
Purpose
The purpose of this memorandum is to discuss the Harpeth Square Development Draft Road Impact Fee Agreement and Recovery Agreement.
Background
As part of the Harpeth Square Development, the Developer has been required to construct certain off-site sanitary sewer improvements, water main improvements and arterial roadway improvements. The improvements that would qualify for either a recovery agreement or road impact fee offset agreement generally include the following:
Water Main Upgrades along 2nd Ave North
This project generally includes the design and installation of a new 10" water main along 2nd Ave North from Main Street to Bridge Street.
Sanitary Sewer Upgrades
This project generally includes the relocation of a sanitary sewer main that currently goes under a building located at 144 Bridge Street. In addition, it will include design and right-of-way acquisition.
Roadway Improvements to 1st Avenue North and Bridge Street
This project generally includes roadway improvements to 1st Avenue North and Bridge Street from East Main Street to 2nd Avenue. The recommended offset will include capacity improvements only. These improvements generally include design, street lights, street light conduit and wire, curb and gutter, drainage structures, drainage pipe, fiber optic interconnect and limited construction management. The following items are not included: demolition, brick sidewalks, cross walks, street signs, limestone street markers, trash receptacle, bike bollards, grading, asphalt, pavement markings, concrete drive apron, landscaping and irrigation.
Roadway Improvements to Franklin Road and East Main Street
This project generally includes the modification of pavement markings on Franklin Road and East Main Street to create a dedicated right turn lane for south bound traffic on East Main Street. In addition, the project includes design and signal modifications to the intersection of East Main Street and 1st Avenue.
Intersection Improvements and Signalization of Bridge Street and 2nd Avenue
This project generally includes the installation of a new traffic signal at Bridge Street and 2nd Avenue. The recommended offset will include design, right-of-way acquisition, traffic signal (decorative), pavement, pavement markings, crosswalks, handicap ramps, curb and gutter, signage, drainage, fiber optic interconnect and limited construction management.
A copy of the draft Road Impact Offset Agreement (COF 2014-0344) and draft Sanitary Sewer and Water Distribution Recapture Agreement (COF 2014-0345) have been included for review and discussion.
Financial Impact
The current development plan includes three 4" water meters. The estimated water access fees available for recapture would be $142,380.00. The estimated construction cost for the water main upgrades along 2nd Ave North is $100,000.00.
The current development plan includes three sanitary sewer taps. Based on a three 4" water meters the estimated sewer access fee available for recapture would be $252,000.00. The estimated construction cost of the sanitary sewer upgrades is $203,000.00
The current development plan includes a 115 room hotel, 10,000 SF conference center, 151 units of multi-family, 5,000 SF of restaurant and 16,650 SF of retail. The estimated road impact fee will be $966,000.60. The estimated construction cost of the arterial improvements is $1,283,355.00. Below is a breakdown of the estimated arterial roadway capacity improvements:
$ 771,100.00 Roadway Improvements to 1st Ave. North and Bridge Street
$ 54,380.00 Roadway Improvements to Franklin Road and East Main Street
$ 457,875.00 Intersection Improvements and Signalization of Bridge Street and 2nd Avenue
$1,283,355.00 Total Estimated Offset
It should be noted that the city may not apply an offset which is greater than the applicable impact fees due from the development project.
Recommendation
This item is for discussion purposes only so that staff can finalize the draft Road Impact Offset Agreement (COF 2014-0344) and the draft Sanitary Sewer and Water Distribution Recapture Agreement (COF 2014-0345).