Title
Consider/Discuss/Act on a Resolution Authorizing the City Manager to Execute a Roadway Impact Fee Credit Agreement with TMPG Highland Lakes, LLC, for the Construction of Two and Four Lane Portions of Ridge Road (extending 2,773 Linear Feet) and Dedication of Right-of-Way for Bloomdale Road (extending 1,867 Linear Feet), Serving an Approximately 641 Acre Development (Highland Lakes), Generally Located on the North Side of Bloomdale Road and West Side of Ridge Road
Summary
COUNCIL GOAL: Direction for Strategic and Economic Growth
(1A: Establish regional infrastructure incentives to increase economic growth)
MEETING DATE: March 21, 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 enter into a roadway impact fee credit agreement with TMPG Highland Lakes, LLC, for the construction of portions of Ridge Road and the dedication of right-of-way for Bloomdale Road serving the Highland Lakes subdivision, generally located on the north side of Bloomdale Road and west side of Ridge Road.
* In conjunction with the platting and development of the Highland Lakes Phase 1 (approximately 140 acres) and Phase 2 (approximately 48 acres) the applicant is required to construct 2 and 4 lane portions of Ridge Road (extending approximately 2,773 linear feet and dedicate right-of-way for Bloomdale Road (extending approximately 1,867 linear feet) adjacent to the subject property (which are roadway impact fee eligible and shown on the attached roadway construction exhibit).
* The total number of roadway impact fee credits to attach to the property under the proposed agreement will be for 533.03 single family residential lots (approximate value of $2,390,106), which will cover all of the residential lots within Phases 1 and 2 of the Highland Lake subdivision. Per th...
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