DATE: February 25, 2020
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator - Community/Economic Development
Jimmy Wiseman, Assistant Director of Engineering
Paul Holzen, Director of Engineering
Michael Walters Young, Budget and Strategic Innovation Manager
SUBJECT:
title
*Consideration Of COF Contract No. 2019-0221 Road Impact Fee Offset Agreement For The Southbrooke PUD Subdivision With Southbrooke, LLC. (WS 2/25/20)
body
Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning COF 2019-0221 Road Impact Fee Offset Agreement with Southbrooke, LLC
Background
The Southbrooke Development is proposing 205 residential units south of Goose Creek Bypass on Lewisburg Pike. The traffic impact analysis currently shows a level of service F without any improvements to the intersection. The additional traffic includes the development and background growth. The full buildout of the north, south and eastern legs of the intersection is recommended. The arterial impact fees generated by the Southbrooke PUD will total $922,202. The estimated cost of the recommended improvements is $2,974,930.
As part of the Southbrooke PUD Subdivision, the developer is required to install the following improvements:
* Lewisburg Pike and Goose Creek Bypass:
o Provide dual northbound right turn lanes and dual northbound thru lanes on Lewisburg Pike.
o Provide dual westbound left turn lanes, a westbound thru lane and a dedicated westbound right turn lane on Goose Creek Bypass as well as a southbound receiving lane on Lewisburg Pike. The receiving lane shall be designed to accommodate the peak volume needed to prevent delay in the intersection.
o Provide dual southbound thru lanes on Lewisburg Pike.
Financial Impact
$922,202.00 will be paid by the developer in arterial impact fees. An additional $2,052,728 is needed for the arterial ...
Click here for full text