Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Roadway Impact Fee Credit Agreement with MLRP Wilmeth, LLC, for Escrowed Funds for the Construction of Two Lanes of Wilmeth Road (extending 820 Linear Feet), Serving an Approximately 24.20 Acre Tract, Generally Located on the North Side of Wilmeth Road and Approximately 250' West of State Highway 5 (McDonald Street)
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: January 7, 2020
DEPARTMENT: Development Services
CONTACT: Gary Graham, P.E., Director of Engineering
Brandon Opiela, Development Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Resolution
ITEM SUMMARY:
* This item authorizes the City Manager to enter into a roadway impact fee credit agreement with MLRP Wilmeth, LLC, for the dedication of right-of-way and escrowed funds equal to the projected cost of construction two lanes of Wilmeth Road (extending 820 linear feet), generally located on the north side of Wilmeth Road and approximately 250' west of State Highway 5 (McDonald Street).
* In conjunction with the platting and development of the ML Wilmeth Addition (approximately 24.20 acres), the applicant is required to construct the northern (2) westbound lanes of Wilmeth Road adjacent to the subject property (which are roadway impact fee eligible), together with two median cuts and two eastbound left-turn lanes entering into the subject property.
* As a part of the Capital Improvements Program, the City has plans to construct approximately 2,460 linear feet of Wilmeth Road extending from 2500 east of Redbud to SH 5 as part of Project ST1723, known as Wilmeth Road Lanes 3 and 4, East of Redbud to SH 5, which includes the required portion of Wilmeth adjacent to the subject property.
* In lieu of constructing the required 820 linear foot section of Wilmeth Road, the Developer has ag...
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