DATE: March 14, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator
Paul Holzen, City Engineer
SUBJECT:title
Introduction of proposed revisions to the 2014 Road Impact Fee Study specifically, including collector roads into the existing methodology.
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning proposed revisions to the City Road Impact Fee methodology to illustrate the benefits and impact in addressing roadway infrastructure.
Background
In 2014, Duncan Associates presented an updated Road Impact Fee Study. Included in this study was an option for including collector roads into the methodology. The current, adopted road impact fee methodology only includes arterial roads.
Including collector roads in the road impact fee methodology is a major policy decision. While adding collector roads would generate additional funding to address the increasing traffic concerns on collector roads, road impact fees would increase but would also allow developers to receive credits against their fees for collector right-of-way dedication and construction that increase capacity. Additionally, the inclusion of collector roads would require a portion of the fees collected be earmarked for collector road improvements in the same district where the development occurs.
Financial Impact
Based on future growth, the financial impact will be evaluated as discussions evolve.
Recommendationrec
There is no recommendation at this time. Staff is in the process of commencing discussions with stakeholders and gaining feedback from the Board.