Bill Type and Number: Ordinance 2007-44

Sponsor: LUZ Committee

Date of Introduction: January 9, 2007

Committee(s) of Reference: LUZ

Date of Analysis: January 12, 2007

Type of Action: Extension of concurrency reservation agreement

Bill Summary: The bill approves an extension of the City’s concurrency reservation agreement with JRL Investments, LLC for traffic circulation capacity for a mixed residential and commercial development between Duval Station and New Berlin Roads on the Northside in Council District 11 for an additional 5 years from September 9, 2006 through September 9, 2011. JRL Investments agrees to pay a capacity reservation fee each year until the project is complete.

Background Information: The reservation agreement was originally entered into in September 2001 for a period of 5 years. The residential portion of the 126 acre parcel has been sold and is either completely developed or under construction. The remaining 17.5 acre commercial/retail site remains undeveloped to date.

Policy Impact Area: Concurrency reservation

Fiscal Impact: An undetermined concurrency reservation fee will be paid to the City each year to extend the reservation.

Analyst: Clements