Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Roadway Impact Fee Credit Agreement for Erwin Farms Phase 4 Between the City of McKinney, Texas, and MM Joplin 60, LLC for the Construction of a Two-Lane Portion of Taylor Burk Drive (Extending Approximately 2,003 Linear Feet), Generally Located on the Southeast Corner of Bloomdale Road (CR 164) and Future Taylor Burk Drive (CR 943)
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional and infrastructure incentives to increase economic growth)
MEETING DATE: May 2, 2023
DEPARTMENT: Development Services
CONTACT: Gary Graham, P.E., Director of Engineering
Brandon Opiela, Development Services Manager
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Resolution
ITEM SUMMARY:
• This item authorizes the City Manager to execute a roadway impact fee credit agreement with MM Joplin 60, LLC, for the dedication and construction of two (2) northbound lanes (extending approximately 2,003 linear feet) of Taylor Burk Drive.
• Per the proposed agreement, upon construction and final acceptance of this portion of Taylor Burk Drive, roadway impact fees will be waived for up to 206 single family residential lots within Phase 4 of the Erwin Farms subdivision.
• The final alignment of Taylor Burk Drive is shifting to the east which a portion will straddle the property line between Erwin Farms Phase 4 and the City’s parkland (approximately 230 acres) to the west, which is anticipated to be a future regional sports complex.
• A standard template Roadway Impact Fee Credit Agreement can be approved by Staff; however, the proposed agreement waives roadway impact fees valued higher than the standard calculation as the Developer has worked with the City to accommodate the shift of the Taylor Burk Drive alignment after the engineering design was approved for the subdivision.
BACKGROUND INFORMATION:
• An annexation agreement for the property was previously approved by the City Council on March 16, 2021 (20-0001A).
FINANCIAL SUMMARY:
• As proposed in the agreement, the construction of 2 lanes of future Taylor Burk Drive (extending approximately 2,003 linear feet) will allow the roadway impact fees for up to 206 single family residential lots within Erwin Farms Phase 4 to be waived (estimated value of $923,704).
BOARD OR COMMISSION RECOMMENDATION:
• N/A