SUBJECT
title
North Ridge Trail Infrastructure Agreement (Deen Still Road to Laurel Estates). Improvement costs not to exceed $4,181,255.00. (Cash Reimbursement)
body
DESCRIPTION
This is a request to enter into an Infrastructure Agreement between EASTGROUP PROPERTIES, INC. (Developer) and Polk County for the design and construction of a segment of the North Ridge Trail from Deen Still Road to Laurel Estates Phase 2.
The Developer is the owner of certain real property located south of Laurel Estates Phase 2, west of US Highway 27, east of the Core of the Green Swamp, and adjacent to the County’s right-of-way for the North Ridge Trail. The Developer’s property is currently being developed with an industrial warehouse 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 North Ridge Trail.
The total estimated cost of the transportation improvement is $4,181,255.00. 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 North Ridge Trail Infrastructure Agreement (from Deen Still road to Laurel Estates Phase 2) with EASTGROUP PROPERTIES, INC. not to exceed a cost of $4,181,255.00.
FISCAL IMPACT
Funding is available in the Roads and Drainage 5 year CIP General Capital Improvement Fund at a cost not to exceed $4,181,255.00.
CONTACT INFORMATION
Thado N. Hays, CPM
Concurrency & Entitlements Manager
Thadohays@polk-county.net