Bill Type and Number:
Resolution 2005-275Sponsor: Transportation, Energy, and Environment Committee
Date of Introduction:
February 22, 2005Committee(s) of Reference: TEE
Date of Analysis: February 25, 2005
Type of Action: Fair Share Agreement
Bill Summary: This bill approves a Fair Share Assessment Contract with Bruce Robbins for the "Beach Boulevard Ventures Phase 1" project.
Background Information: The project consists of 650 single-family homes to be built on approximately 781.25 acres at the northeast corner of Beach and Kernan boulevards, backing up to the Sandlewood Canal. The first two years will be in site work, with approximately 250 permits being pulled in Year 3 and 200 permits each in Years 4 and 5. The Fair Share Assessment is $2,759,998 with a 5-year term. Concurrency Review estimated a total of 417 peak hour trips being generated with needed road improvements increasing peak hour capacity over 8 miles on deficit Links 33, 405, 406, and 515, in Sector 2.1. Eight roads will need to be widened with other roads and intersections also needing improvements. Inflation rate is 3.30% for each year amount is unpaid. The project will be in District 3.
Policy Impact Area: Economic Development/Street and Roads
Fiscal Impact: Fair Share Assessment to be banked is for $2,759,998 to Sector 2.1 account
Analyst: Weiss