DATE: February 2, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, ACA - Community and Economic Development
SUBJECT:
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*Consideration of Resolution 2015-10 "A Resolution Directing the Appropriation of Funds to the Franklin Housing Authority (FHA) for the Purpose of Reducing the Development Fees Associated With Phase II of the Reddick Property Redevelopment Project."
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Purpose
The purpose of this memorandum is to provide additional information to the Board of Mayor and Alderman (BOMA) in further consideration of a request made by the Franklin Housing Authority (FHA) for a financial commitment to assist with off-setting a portion of the Sanitary Sewer and Water Development Fees (Access, System Development, Tap, And Effluent Fees) For Phase II of the Reddick Property Redevelopment Project (Continued from 1/13/15 Worksession).
Background
During the January 13 BOMA Worksession Derwin Jackson from the Franklin Housing Authority informed the Board of Mayor and Aldermen that the FHA is finalizing their financing for Phase II of the Reddick Property Redevelopment Project. Phase II of the project includes the construction of sixty-five public and tax credit dwelling units. Mr. Jackson explained the current property, when developed in the 1960's was served with a master water meter and that because the City's current development regulations no longer allow master meters, the sanitary sewer and water development fees associated with extending individual sanitary sewer and metered water services to each building is approximately $195,000 greater than if a master water meter was allowed. Mr. Jackson requested consideration of an appropriation to help off-set these development fees.
The current appropriation for the Franklin Housing Authority in the FY 2015 budget is $8,460. During the Worksession on January 13 discussion arose about the potential of appropriating funds from the Housing...
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