DATE: March 20, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, City Engineer/Director of Engineering
Jimmy Wiseman, Assistant Director of Engineering
SUBJECT:
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Consideration of Contract No. 2019-0094 Road Impact Offset Agreement with Goldberg Companies, INC for the Huffines Property PUD Subdivision (03/26/19 WS) .
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning COF Contract No. 2019-0094 Road Impact Offset Agreement with Goldberg Companies, INC for the Huffines Property PUD Subdivision.
Background
The Goldberg Companies, Inc. is required to dedicate 0.269 acre of right of way along Carothers Parkway for a future travel lane as part of the Huffines Property PUD Subdivision.
Financial Impact
The total eligible costs of design, right-of-way acquisition, easement acquisition, permits and construction of the above arterial roadway Improvements is One Hundred Thirty-Five Thousand Eight Hundred Fifty Nine and No/100 Dollars ($135,859.00) for the Development Project and the total reimbursement to the Developer is estimated to be One Hundred Thirty Five Thousand Eight Hundred Fifty Nine and No/100 Dollars ($135,859.00). At no time shall reimbursement exceed the arterial impact fees collected as part of the Development Project.
Recommendation
Staff recommends approval of COF Contract No. 2019-0094 Road Impact Offset Agreement with Goldberg Companies, INC for the Huffines Property PUD Subdivision.