DATE: June 15, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, ACA-Community and Economic Development
SUBJECT: the
Continued Discussion and Update on Alternatives for the Second Vehicular Entrance/Exit to the Stream Valley Subdivision (Continued from 06/23/15 WS).
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Purpose
The purpose of this memorandum is to update the Board of Mayor and Alderman (BOMA) on alternatives to the developer of the Stream Valley Subdivision, Alex Marks, in proceeding with the installation of the second vehicular entrance/exit as approved. This second vehicular entrance/exit is adjacent to the east property line of the Goose Creek Estates Subdivision and staff is seeking guidance on the preferred option and whether to proceed with amending the approved Development Plan and Agreement.
Background
In 2004, the City of Franklin Board of Mayor and Alderman approved the Stream Valley Planned Development which has since been amended. One such amendment included a development agreement that capped the construction of the number of dwelling units prior to the completion of the second vehicular entrance/exit access. In February of 2015, staff informed the BOMA during a work session that the developer of the Stream Valley Subdivision, Alex Marks, was preparing to commence design and construction of the second vehicular entrance/exit, as approved. The approved alignment is adjacent to the Goose Creek Estates east property line as shown on the attached exhibit. After several Goose Creek residents expressed concern with this improvement, staff began considering alternatives that would remove the development cap and allow the developer to continue building within the subdivision and, provide certainty at least one additional second entrance/exit would eventually be constructed to serve the Stream Valley Subdivision.
Overview of Alternates
In lieu of allowing the developer of Stream Valley, Royal Investments, to co...
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