Bill Type and Number: Ordinance 2007-343

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 Kendale Land Development, Inc. for the "Oak Lane Plantation" residential project.

Background Information: The Oak Lane Plantation project consists of up to 522 single-family residential lots on 212.92 acres located on Plummer Road, between Holton Lane and Diamond C Lane in the northwest area of the city near the Nassau County line. The fair share assessment is $2,030,832 with a 10-year term. Concurrency Review estimated a total of 333 peak hour trips being generated on deficit link #346 – Plummer Road from the Nassau County Line to Old Kings Road in Sector 6.2. The inflation rate is 3.3% for each year the amount is unpaid. The project will be in Council District 11.

Policy Impact Area: Economic Development/Street and Roads

Fiscal Impact: The fair share assessment is $2,030,832 to the Sector 6.2 account

Analyst: Clements