Bill Type and Number: Ordinance 2007-337

Sponsor: Transportation, Energy, Utilities & Safety Committee

Date of Introduction: April 10, 2007

Committee(s) of Reference: TEUS

Date of Analysis: April 13, 2007

Type of Action: Fair Share Agreement

Bill Summary: This bill approves a fair share assessment contract with Matovina and Company for the "Renee’s Hideaway" project.

Background Information: The Renee’s Hideaway project consists of up to 38 single-family residential lots on 11 acres located on Chesterton Road, between Leon Road and Durham Road on the Southside. The fair share assessment is $104,166 with a 4-year term. Concurrency Review estimated a total of 19 peak hour trips being generated on deficit link #34 – Atlantic Boulevard from St. Johns Bluff Road to Monument Road in Sector 2.2. The inflation rate is 3.3% for each year the amount is unpaid. The project will be in Council District 2.

Policy Impact Area: Economic Development/Street and Roads

Fiscal Impact: The fair share assessment is $104,166 to the Sector 2.2 account

Analyst: Clements