DATE: February 11, 2020
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Mark Hilty, Assistant City Administrator - Public Works
Lisa Clayton, Parks Director
Kevin Lindsey, Facilities Superintendent
SUBJECT:
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COF Contract No. 2019-0371, Parkland Impact Fee Agreement (Payment Of Fee Only) Between The City Of Franklin And Bradley R. Pray For The Amount Of Four Thousand Three Hundred Four Dollars ($4,304).
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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. 2019-0371, a contract for the payment of Parkland Impact Fees between the City of Franklin and Bradley R. Pray.
Background
Bradley R. Pray intends to construct one (1) dwelling unit located in the City of Franklin. Under the City’s Parkland Dedication Ordinance (Ordinance 2016-25, Franklin Municipal Code §25-405, and hereinafter, “Ordinance”) there shall be a Parkland Impact Fee against each new dwelling unit constructed within the City of Franklin in the amount of Four Thousand Three Hundred Four Dollars ($4,304) per dwelling unit. The Parkland Impact Fee assessed against Mr. Pray’s property is Four Thousand Three Hundred Four Dollars ($4,304). The developer has elected to pay the parkland impact fee in lieu of receiving parkland dedication offsets.
Financial Impact
Mr. Pray will pay the City Four Thousand Three Hundred Four Dollars ($4,304) which will be due at the first final plat or the issuance of the first building permit if a plat is not required. The funds received by the City will be placed in the Parkland Dedication Fund for community-type parks in Quadrant Four (4).
Recommendation
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Staff recommended to the City Administrator approval of this agreement, and it was approved on January 15, 2020.