SUBJECT
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Thompson Nursery Road (Phase 2, Segment 5) Infrastructure Agreement. (County reimbursement not to exceed $4,729,067.16 and includes a Developer contribution in the amount of $1,187,326.75 for a total project cost of $5,916,393.91)
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DESCRIPTION
This is a request to enter into an infrastructure agreement between Peace Crossing Community Development District (PCCDD) and Polk County for the design, permitting, and construction of non-site related infrastructure improvements to Thompson Nursery Road. This section of Thompson Nursery Road is located within Phase 2, Segment 5 of an identified Roads & Drainage CIP roadway improvement that is currently funded.
The Developer is the owner or contract purchaser of certain real property located south of the intersection of Thompson Nursery Road and Conservation Way. The Developer intends to construct a combination of both residential and commercial uses on their property and has received access approval from the County’s Land Development Division to connect to Thompson Nursery Road (a County maintained roadway). The Developer is willing to design, permit, and construct certain non-site related transportation improvements to Thompson Nursery Road consistent with identified CIP improvements.
The total estimated cost of the project (which includes engineering and construction costs) is $5,916,393.91. The County will reimburse the Developer no more than $4,729,067.16 for its portion of the improvement and the Developer’s contribution to the improvement will be $1,187,326.75.
RECOMMENDATION
Approve the infrastructure agreement between Peace Creek Crossing Community Development District and Polk County for Thompson Nursery Road improvements.
FISCAL IMPACT
The County agrees to reimburse the Developer in cash for the County’s portion of costs incurred for the transportation improvements, at a cost not to exceed $4,729,067.16. Funding for this project is available via Roads & Drainage 5 year CIP.
CONTACT INFORMATION
Thado N. Hays, CPM
Concurrency & Entitlements Manager
Thadohays@polk-county.net <mailto:Thadohays@polk-county.net>
(863) 534-6093