DATE: July 11, 2018
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Paul P Holzen, City Engineer/Director of Engineering
SUBJECT:
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Warranty Deed (COF Contract No. 2017-0138) from George Dwight Lynch and Mary Delores Lynch for the offsite improvements associated with the Harpeth Square Development Project.
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning COF 2017-0138.
Background
The Harpeth Square Development was required to purchase right-of-way to make offsite improvements associated with the development project. The impact fee offset agreement, between the City and Harpeth Square was approved by the Board as part of the Development Project. The developer was unable to acquire the necessary right-of-way. Staff worked with the developer to finalize the acquisition at a cost of $27,000 based on fair market value.
Financial Impact
$27,000 paid out of the Road Impact Fee Offset Agreement associated with the Harpeth Square Development Project.
Recommendation
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The City Administrator approved this agreement under the authority granted by the Franklin Board of Mayor and Aldermen by Resolution 2012-05.