DATE: July 2, 2019
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Jimmy Wiseman, Assistant Director of Engineering
Paul Holzen, Director of Engineering
SUBJECT:
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Consideration of Road Impact Fee Offset Agreement (COF 2019-0221) for the Southbrooke PUD Subdivision with 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 COF 2019-0221 Road Impact Fee Offset Agreement with Southbrooke, LLC
Background
As part of the Southbrooke PUD Subdivision, the developer is required to install the following improvements:
* Lewisburg Pike and Goose Creek Bypass:
o Provide dual northbound right turn lanes and dual northbound thru lanes on Lewisburg Pike.
o Provide dual westbound left turn lanes, a westbound thru lane and a dedicated westbound right turn lane on Goose Creek Bypass as well as a southbound receiving lane on Lewisburg Pike. The receiving lane shall be designed to accommodate the peak volume needed to prevent delay in the intersection.
o Provide dual southbound thru lanes on Lewisburg Pike.
* Provide an east/west minor collector roadway stub from Lewisburg Pike to line up with the future McLemore connection.
Financial Impact
The total eligible costs of design, right-of- way acquisition, easement acquisition, permits, and construction of the above arterial roadway Improvements is (Two Million Nine Hundred Seventy Four Thousand Nine Hundred Thirty and 00/100) ($ 2,974,930.00) for the Development Project and the total reimbursement to the Developer is estimated to be ( Two Million Nine Hundred Seventy Four Thousand Nine Hundred Thirty and 00/100) ( $2,974,930.00). At no time shall reimbursement exceed the arterial impact fees collected as part of the Development Project.
Recommendation
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Staff recommends approval of CO...
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