DATE: January 29, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, Director of Engineering
Carl Baughman, Traffic Engineer III
SUBJECT:
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*Consideration of Road Impact Fee Offset Agreement (COF Contract No 2015-0418) with SouthStar, LLC for Arterial Roadway Improvements to Liberty Pike (Carothers Parkway to Knoll Top Lane
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Purpose
The purpose of this memorandum is to provide information to the Board of Mayor and Aldermen (BOMA) to consider a Road Impact Fee Offset Agreement between the City of Franklin and SouthStar, LLC.
Background
SouthStar, LLC submitted a Traffic Impact Study in November of 2015 as part of the Carothers Crossings Development Project and The Standard Development Project. The following recommendation from the approved traffic impact study would qualify for a road impact fee offset agreement:
1) Intersection improvements at Mallory Lane, N. Royal Oaks Boulevard and Liberty Pike.
2) The existing five-lane cross-section on Liberty Pike should be extended from immediately east of Carothers Parkway to the Eastern boundary of the project site. It would be appropriate to design and construct this roadway segment to include two through lanes in each direction and a grassy median.
3) Adequate right-of-way should be reserved along the frontage of the project site in order to accommodate the future cross-section that have been identified by the City of Franklin for Carothers Parkway and Liberty Pike.
Below is an estimate of the arterial roadway improvements needed:
$2,100,000 Intersection improvements at Mallory Ln, N. Royal Oaks Blvd. and Liberty Pike
$ 350,444 ROW Dedication on Carothers Parkway and Liberty Pike
$2,499,556 Liberty Pike Widening (Carothers to Knoll Top Lane)
$4,950,000 Total arterial roadway improvements
The proposed Road Impact Fee Offset Agreement will require SouthStar, LLC to make improvements to Liberty...
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