SUBJECT
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Proportionate Share Agreement for Off-Site Road Improvements associated with TLC Reedy Isle, LLC.
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DESCRIPTION
This is a request to enter into a Proportionate Share Agreement between TLC Reedy Isle, LLC (hereinafter referred to as Owner) and Polk County in the amount of $157,814.00 for certain related off-site transportation impacts to the following intersections:
(1.) US Highway 17/92 & South Boulevard;
(2.) US Highway 17/92 & Mystery House Road;
(3.) US Highway 17/92 & Davenport Boulevard;
(4.) US Highway 17/92 & Baker Avenue; and
(5.) Mystery House Road & Power Line Road.
This development project is located within the city limits of Davenport but gains direct access to County maintained roadways. This proportionate share agreement is being entered into in order to satisfy transportation concurrency requirements for Phases 1 thru 4 of the TLC Reedy Isle development.
Phases 1 thru 4 of the TLC Reedy Isle development consists of 1,310 residential units (a mixture of single-family units and townhouse units). In order to have adequate roadway capacity for all 1,310 units, the following intersection improvements are required due to Excess Trips associated with the project:
(1.) Adding a 195-foot westbound left turn lane on South Boulevard at the US Highway 17/92 intersection (7% of the improvement cost required);
(2.) Adding a 155-foot westbound right turn lane on Mystery House Road at the US Highway 17/92 intersection (9% of the improvement cost required);
(3.) Adding 370-foot northbound dual left turn lanes on US Highway 17/92 at the Davenport Boulevard intersection (56% of the improvement cost required);
(4.) Adding a 145-foot westbound right turn lane on Baker Avenue at the US Highway 17/92 intersection (8% of the improvement cost required);
(5.) Adding a 255-foot southbound left turn lane on US Highway 17/92 at the Mystery House Road intersection (100% of the improvement cost required); and
(6.) Performing Signal Warrant Analysis at the intersection of US Highway 17/92 & South Boulevard and at the intersection of US Highway 17/92 & Mystery House Road (100% of the improvement cost required).
Therefore, pursuant to Section 163.3180(5)(h), Florida Statutes, as amended, the Owner shall provide the County with proportionate share mitigation for the Excess Trips triggered by their development. The Owner and County have agreed that the total proportionate share payment necessary to mitigate the impact of Excess Trips on deficient roadways through buildout of Phases 1 thru 4 of the project is $157,814.00, with $139,423.28 being eligible for Transportation Impact Fee Credits as provided by statute. The subject agreement satisfies the Owner’s obligation for mitigation of impacts per Section 163.3180(5)(h), Florida Statutes.
RECOMMENDATION
Approve the Proportionate Share Agreement for identified roadway improvements associated with Phases 1 thru 4 of the TLC Reedy Isle Assemblage Development.
FISCAL IMPACT
No Fiscal Impact associated with the agreement; however, the developer will be eligible for Transportation Impact Fee Credits not to exceed $139,423.28.
CONTACT INFORMATION
Thado N. Hays, CPM
Concurrency & Entitlements Manager
Thadohays@polk-county.net <mailto:Thadohays@polk-county.net>