DATE: January 5, 2015
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator for Community and Economic Development
SUBJECT: e
Consideration Of A Request By The Franklin Housing Authority (FHA) For A Commitment Of An Allocation In The FY 2016 Budget To Off-Set A Portion Of The Sanitary Sewer And Water Development Fees (Access, System Development, Tap, And Effluent Fees) For Phase II Of The Reddick Redevelopment Project (Continued From 1/13/15 Worksession.
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Purpose
The purpose of this memorandum is to provide the Franklin Board of Mayor and Aldermen (BOMA) an overview of Franklin Housing Authority's Reddick Property Redevelopment Project, applicable development fees, and summary of their request that reduces the Sanitary Sewer and Water development fees associated with Phase II of their project.
Background
Reddick Property Redevelopment - Project Scope
Phase I (Complete) - 49 units within one, multi-family building
* 40 - Public Housing Units
* 8 - Tax Credit Units
* 1 - On-Site Managers Quarters
Phase II - 65 units in multiple buildings
* 34 - Public Housing Units
o 2 - Detached, Single-Family Dwellings
o 4 - 8 Unit Multi-Family Dwellings
* 31 - Tax Credit Units
o 3 - Detached, Single-Family Dwellings
o 14 - Duplexes (28 units)
Reddick Property Developments Fees
Phase I
Phase II
Total
Road Impact Fees
Public Units
N/A
N/A
Tax Credit Units
$ 13,833
$ 101,896
$ 115,729
Facilities Tax
Public Units
N/A
N/A
Tax Credit Units
$ 5,811
$ 24,203
$ 30,014
Sanitary Sewer and Water
Public Units
Credit $172,175
$ 122,188
$ 122,188
Tax Credit Units
applied to Phase I
$ 251,224
$ 251,224
TOTAL $ 373,412
Fire and Irrigation Meters
$ 13,123
$ 4,000
$ 17,523
OVERALL TOTAL (Estimated)
$ 536,678
Existing Sanitary Sewer and Water Service
When the Reddick Property wa...
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