DATE: October 3, 2016
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul Holzen, Director of Engineering
Jimmy Wiseman, Assistant Director of Engineering
SUBJECT:
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Consideration of Road Impact Fee Offset Agreement (COF Contract No 2016-0299) with Embrey Partners, Ltd. for Arterial Roadway Improvements to Franklin Road at the Mallory Station Road Intersection (Iron Horse Development) (10/11/16 WS; 10/25/16 BOMA Referred to November 22nd 7:00 meeting, 7-1)
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Purpose
The purpose of this memorandum is to provide a recommendation to the Board of Mayor and Aldermen (BOMA) for approving a Road Impact Fee Offset Agreement between the City of Franklin and Embrey Partners, Ltd.
Background
Embrey Partners, Ltd. submitted a Traffic Impact Study in July of 2016 as part of the Iron Horse Development Project. The following recommendation from the approved traffic impact study would qualify for a road impact fee offset agreement:
1. Construct a northbound right-turn lane at Franklin Road and Mallory Station Road. This improvement should also include minor modifications to the existing traffic signal to provide new northbound right-turn overlap signal phase concurrent with the westbound left-turn phase.
Below is an estimate of the arterial roadway improvements needed:
$ 32,240.00 ROW Dedication on Franklin Road
485,670.00 Right turn lane on Franklin Road and Mallory Station Road
$517,910.00 Total arterial roadway improvements
The proposed Road Impact Fee Offset Agreement will require Embrey Partners, Ltd. to make improvements to Franklin Road and dedicate all necessary ROW along Franklin Road. The estimated cost of these improvements is $517,910.00 and the estimated total reimbursement to the Developer is an identical amount.
The background traffic includes impacts from the Avenida Development on Mallory Station Road, the future development of the Meadows Family property and ambient growth w...
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