Bill Type and Number: Ordinance 2007 - 257

Sponsor: Transportation, Energy, Utilities & Safety Committee

Date of Introduction: March 13, 2007

Committee(s) of Reference: TEUS

Date of Analysis: March 16, 2007

Type of Action: Fair Share Agreement

Bill Summary: This bill approves a Fair Share Assessment Contract with Johnny L. Dudley for the "Yellow Bluff Townhomes, Phase I" project.

Background Information: The project consists of up to 60 townhome/condominiums to be built on approximately 7.23 acres at 14458 Yellow Bluff Road, a location on the west side of Yellow Bluff Road and south of Starratt Road. The Fair Share Assessment is $140,379 with a 5-year term. Concurrency Review estimated a total of 25 peak hour trips being generated over a total of 2 miles on deficit Link 383 (Yellow Bluff from Starratt to New Berlin) 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 $140,379 to Sector 6.1 account

Analyst: Weiss