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 was not yet available when the impact fees were paid.
• Roadway Impact Fee Credit Agreements, following the standard template language, can be approved administratively. However, since payment of roadway impact fees is required prior to the issuance of a building permit, additional language was added to the agreement allowing for the reimbursement of any unused credits generated from the construction and final acceptance of the associated section of Wilmeth Road. As such, the proposed agreement requires City Council approval.
BACKGROUND INFORMATION:
• The associated record plat (17-270RP) for the HSW Addition was approved by Staff on October 5, 2017.
FINANCIAL SUMMARY:
• Prior to the issuance of a building permit, the Developer paid the full roadway impact fee of $314,054.92 on February 3, 2018.
• The proposed agreement allows the City to reimburse the Developer up to $162,668.86 from the Roadway Impact Fee Zone E account, for the unused roadway impact fee credits generated from the roadway construction.
BOARD OR COMMISSION RECOMMENDATION:
• N/A