Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Roadway Impact Fee Credit and Reimbursement Agreement with Hunt Southwest - Wilmeth, LLC, for the Construction of a Portion of Wilmeth Road, Extending Approximately 648 Linear Feet and Serving an Approximately 13.32 Acre Tract, Generally Located on the North Side of Wilmeth Road and Approximately 1,950 Feet East of Redbud Boulevard
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish Regional and Infrastructure Incentives to Increase Economic Growth)
MEETING DATE: October 16, 2018
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 an agreement with Hunt Southwest - Wilmeth, LLC ("Developer"), regarding roadway impact fee credits and reimbursement for the construction of a new section of Wilmeth Road, extending approximately 648 linear feet.
* The construction of this portion of Wilmeth Road is required in conjunction with the platting and development of Lot 1, Block A of the HSW Addition (approximately 13.32 acres) for warehouse/industrial uses.
* The roadway impact fees due for the subject property, totaling $314,054.92, were paid as required prior to the issuance of a building permit. Since the required portion of Wilmeth Road was constructed concurrently with the building on the property, roadway impact fee credits were not available for use by the Developer at the time the roadway impact fees were paid.
* The proposed agreement grants the Developer roadway impact fee credits in conjunction with the final acceptance of Wilmeth Road and also subsequently allows the City to reimburse the Developer up to $162,668.86 for the unused roadway impact fee credits generated (111.57 service unit equivalents) from the roadway construction which w...
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