Bill Type and Number: Ordinance 2007 - 108

Sponsor: Transportation, Energy, Utilities & Safety Committee

Date of Introduction: September 12, 2007

Committee(s) of Reference: TEUS

Date of Analysis: September 15, 2007

Type of Action: Fair Share Agreement

Bill Summary: This bill approves a Fair Share Assessment Contract with Nichols Creek Development, LLC for the "Heckscher Villages Townhomes" project.

Background Information: The project consists of up to 150 multi-family units to be built on approximately 12.07 acres south of Heckscher Drive between Orahood Lane and New Berlin Road. The Fair Share Assessment is $133,108 with a 5-year term. Concurrency Review estimated a total of 29 peak hour trips being generated over a total of 4.25 miles on deficit Links 131 (Hecksher), 376 (New Berlin) and 559 (Alta) in Sector 6.1. Inflation rate is 3.50% at the end of the first year and 3.3% thereafter for each year the amount is unpaid. The project will be in District 11.

Policy Impact Area: Economic Development/Street and Roads

Fiscal Impact: Fair Share Assessment to be banked is for $120,795 to Sector 6.1 account

Analyst: Weiss