SUBJECT
title
North Ridge Trail Extension Infrastructure Agreement from Legacy Park Blvd. to Poitras #2 Road. (not to exceed a reimbursement cost of $1,414,231.08).
body
DESCRIPTION
This is a request to enter into an Infrastructure Agreement between DHIC-Citrus Ridge, LLC (Developer) and Polk County for the design and construction of the North Ridge Trail from Legacy Park Boulevard to Poitras #2 Road.
The Developer is the owner of certain real property located south of Poitras #2 Road, west of US Highway 27, and east of the County right-of-way for the North Ridge Trail. In addition, the property is located within the North US Highway 27 Selected Area Plan where District "A" (North-East) impact fees are available to pay the costs associated with the design, permitting, and construction of certain road and access improvements. The Developer's property is currently being developed with multi-family and townhome uses that will gain direct access to the North Ridge Trail once complete. The Developer is willing to design and construct certain non-site related transportation improvements for the extension of the North Ridge Trail.
The total estimated cost of the project is $2,239,490.00 with no more than $1,414,231.08 to be reimbursed ($782,400.00 in impact fee credits and $631,831.08 in cash) to the Developer via a combination of impact fee credits and cash for the actual costs incurred in the transportation improvement. The remaining $825,258.92 will be the Developer's contribution towards the project. This agreement will allow for these improvements to be made more rapidly by the Developer and at a reduced cost if Polk County were to program these improvements.
RECOMMENDATION
Approve the Infrastructure Agreement for the extension of the North Ridge Trail (from Legacy Park Blvd. to Poitras #3 Road) between DHIC-Citrus Ridge, LLC and the County.
FISCAL IMPACT
The County agrees to reimburse the Developer for actual costs incurred for the transportation improvemen...
Click here for full text