Bill Type and Number:
Resolution 2005-431Sponsor: Transportation, Energy, and Environment Committee
Date of Introduction:
April 12, 2005Committee(s) of Reference: TEE
Date of Analysis: April 15, 2005
Type of Action: Fair Share Agreement
Bill Summary: This bill approves a Fair Share Assessment Contract with SFS Development Group, LLC for the "Fouraker Hills" project.
Background Information: The project consists of up to 90 detached single family lots to be developed on approximately 32.16 acres on Fouraker Road between Lenox Avenue and Hogan Settlement Road. The Fair Share Assessment is $607,101 with a 5-year term. Concurrency Review estimated 65 peak hour trips being generated with needed road improvements increasing peak hour capacity 1,650 trips for 2 miles on deficit Link 95 (Normandy Blvd between Herlong and I-295), along with another estimated 84 peak hour trips being generated with needed road improvements increasing peak hour capacity 1,640 trips for 1.42 miles on deficit Link 95 (Fourraker between Normandy and I-10) in Sector 5.1. Four roads, I-295, Cahoon Rd., Crystall Springs Rd., and Beaver St., will need to be widened. Inflation rate is 3.30% for each year amount is unpaid. The project will be in District 12.
Policy Impact Area: Economic Development/Street and Roads
Fiscal Impact: Fair Share Assessment to be banked is for $607,101 to Sector 5.1 account
Analyst: Weiss