Bill Type and Number: Ordinance 2007-338

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 King’s Crossing, LLP for the "King’s Crossing" residential project.

Background Information: The King’s Crossing project consists of up to 59 single-family residential lots on 16.45 acres located on Old Kings Road, between Pickettville Road and Walter Road in the Pickettville area. The fair share assessment is $212,115 with a 3-year term. Concurrency Review estimated a total of 41 peak hour trips being generated on deficit link #47 – Old Kings Road from Edgewood Avenue to Plummer Road in Sector 5.2. The inflation rate is 3.3% for each year the amount is unpaid. The project will be in Council District 10.

Policy Impact Area: Economic Development/Street and Roads

Fiscal Impact: The fair share assessment is $212,115 to the Sector 5.2 account

Analyst: Clements