Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Water Impact Fee Credit Agreement with HRC WCD Partners, LP, for the Construction of Master Planned Water Lines, Serving an Approximately 477.87 Acre Development (Highland Lakes Phases 1, 2, 3, and 5), Generally Located North of Bloomdale Road and West of Ridge Road
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional infrastructure incentives to increase economic growth)
MEETING DATE: December 17, 2024
DEPARTMENT: Development Services
CONTACT: Gary Graham, P.E., Director of Engineering
Brandon Opiela, Business and Data Analytics Manager
RECOMMENDED CITY COUNCIL ACTION:
* Approval of the Resolution
ITEM SUMMARY:
* This item authorizes the City Manager to enter into a water impact fee credit agreement with HRC WCD Partners, LP, for the construction of oversized, master planned water lines serving an approximately 477.87 acre development (Highland Lakes Phases 1, 2, 3, and 5), generally located north of Bloomdale Road and west of Ridge Road.
* In conjunction with the development of the subject property, master planned water lines are being constructed across the subject property to serve both the subject property and the neighboring properties.
* The oversized water lines being constructed extend approximately 18,573 linear feet and ranges in diameter size from 12" to 30" and is estimated to cost approximately $7,433,186.72 to construct.
* The estimated cost difference between the required line sizes ($4,326,858.57) and the master planned line sizes ($7,433,186.72) is $3,106,328.15. This generates a water impact fee credit for 1,771 single family dwelling units using a 3/4" meter ($1,754 per unit).
* Prior to acceptance of the lines, the Developer anticipates that approximately 300 single family homes will be permitted and pay water impact fees. Since credits are not be available until after all of the water lines are acce...
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