DATE: February 27, 2020
TO: Board of Mayor and Aldermen
FROM: Eric Stuckey, City Administrator
Vernon Gerth, Assistant City Administrator for Community and Economic Development
David Diaz, Contracts Administrator
Jimmy Wiseman, Engineering Department Assistant Director
SUBJECT:
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Consideration of Amendment No. 1 to COF Contract No. 2016-0299 For Embrey Partners, Ltd. Ironhorse Development Road Impact Fee Offset Agreement.
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Purpose
The purpose of this memorandum is to provide information to the Franklin Board of Mayor and Aldermen (BOMA) regarding proposed amendments to COF Contract No. 2016-0299 a Development Road Impact Fee Agreement with Embrey Partners, Ltd. for roadway and intersection improvements made in conjunction with developing the Ironhourse multi-family residential development.
Background
In November of 2016 the City of Franklin Board of Mayor and Aldermen approved a Development Plan and Development Road Impact Fee Agreement that required certain roadway improvements as a condition of approving the Ironhourse multi-family residential development located on the northeast corner of Franklin Road and Mack Hatcher Parkway. The required improvements made to increase vehicular capacity to a portion of Franklin Road and the Mallory Station Road intersection have been completed, approved, and accepted by both TDOT and the City of Franklin. Embrey Partners, Ltd. and their affiliate, Ironhorse Franklin Apartments, LLC and the City staff has requested a few amendments to the original agreement as follows:
1. When the BOMA approved the Development Road Impact Fee Agreement in November of 2016, Embrey Partners, Ltd. was the developer. Since that time the name of the entity responsible for making the roadway improvements has changed to Ironhorse Franklin Apartments, LLC and while affiliated with Embrey Partners, Ltd. payment is required to be made to Ironhorse Franklin Apartments, LLC which requires an amendment to the orig...
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