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File #: 19-0585    Version: 1 Name: Contract 2019-0172 Parkland Impact Fee Southbrooke
Type: Contract/Agreement Status: Passed
File created: 5/17/2019 In control: Board of Mayor & Aldermen
On agenda: 11/12/2019 Final action: 11/12/2019
Title: Consideration of COF Contract No. 2019-0172 Parkland Impact Fee and Trail System Construction Agreement between the City of Franklin and Southbrooke, LLC. (WS 7/9/19; BOMA 8/13/19 deferred to 11/12/19) (REQUEST TO WITHDRAW BY APPLICANT)
Sponsors: Lisa Clayton
Attachments: 1. 2019-0172 Southbrooke - Parkland Agreement_with Exhibits.Law Approved.pdf

DATE: July 2, 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, Facilities Superintendent

SUBJECT:
title
Consideration of COF Contract No. 2019-0172 Parkland Impact Fee and Trail System Construction Agreement between the City of Franklin and Southbrooke, LLC. (WS 7/9/19; BOMA 8/13/19 deferred to 11/12/19) (REQUEST TO WITHDRAW BY APPLICANT)

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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) concerning the trail construction and parkland impact fee off-set agreement between the City of Franklin and Southbrooke, LLC.

Background
Southbrooke, LLC seeks to develop a new residential area known as the Southbrooke (PUD). Per the City's Parkland Dedication Ordinance (Ordinance 2016-25, Franklin Municipal Code ?25-405, and hereinafter, "Ordinance"), Parkland Impact Fees were assessed against the development in the amount of Three Million Three Hundred Fifty-Seven Thousand One Hundred Twenty and 00/100 Dollars ($3,357,120.00). Southbrooke, LLC seeks to make certain parkland improvements as part of the development plan in exchange for offsets in lieu of Parkland Impact Fees, as provided for in the Ordinance. The parkland improvements are as follows: design and construct a multi-use trail system, including park appurtenances such as benches, bike racks, trash receptacles, trail head signage, and a park structure with restrooms. The improvements will be on approximately 120-125 acres of land as part of the Southbrooke PUD. Upon inspection and acceptance of the improvements, all land and the listed improvements will be dedicated to the City of Franklin. Based on this information, and Section II, Appendix A of the Ordinance, Southbrooke LLC is eligible for a 100% offset of Parkland Impact Fees.

Financial Impact
ENTER Southbrooke, LLC will be required to pay...

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