Bill Type and Number: Ordinance 2007 - 162

Sponsor: Transportation, Energy, Utilities & Safety Committee

Date of Introduction: February 13, 2007

Committee(s) of Reference: TEUS

Date of Analysis: February 16, 2007

Type of Action: Fair Share Agreement

Bill Summary: This bill approves a Fair Share Assessment Contract with Pecan Park Road Investments, LLC for the "Pecan Park Road Townhouses and Retail" project.

Background Information: The project consists of up to 322 townhomes and to 93,000 square feet of retail space to be built on approximately 115 acres at 671 Pecan Park Road. The Fair Share Assessment is $3,158,661 with a 5-year term. Concurrency Review estimated a total of 780 peak hour trips being generated over a total of 6.59 miles on deficit Links 101 (Main), 102 (Main), 367 (Pecan Park), and 368 (Pecan Park) in Sector 6.2. 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 $3,158,661 to Sector 6.2 account

Analyst: Weiss