DATE: January 29, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Mark Hilty, Assistant City Administrator - Public Works
Lisa Clayton, Parks Director
Kevin Lindsey, Parks Facilities Superintendent
SUBJECT:
title
*Consideration of COF Contract No. 2019-0007 Parkland Impact Fee and Greenway Trail System Construction Agreement Between the City of Franklin and Clayton Properties Group, Inc. For The Property Known As The Fields At Reese Farms.
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Purpose
The purpose of this memo is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning an agreement between the City of Franklin and Clayton Properties Group, Inc. for a dedicated non-exclusive, all-access public easement and construction of approximately 1.1471 acres of land for the construction of a greenway trail.
Background
The development project known as The Fields at Reese Farm PUD is in the process of developing sixty-eight (68) attached townhomes lots and sixty-four (64) detached single-family lots on approximately 44-acres at Del Rio Pike. As part of the parkland impact fee requirements, Clayton Properties Group, Inc. is required to pay $4,304/unit and may receive up seventy-five percent eligibility for their total parkland impact fee. They are to plat and dedicate a non-exclusive, all-access public easement and construct a greenway trail which will connect to existing land the City has already obtained easements. The future connection for this site will connect to the multipurpose pathway on Mack Hatcher.
Financial Impact
The total parkland impact fee for the property known as The Fields at Reese Farm:
* Total Parkland Impact Fee for 132 units @$4,304/unit $568,128.00
* Eligible amount of off-set based on 75% of total PIF $426,096.00
* Quadrant 2: 25% designated for Community Type Parks $142,032.00
Recommendation
Staff recommends approving the contract between the City of Franklin and Clayton Properties Group, Inc...
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