SUBJECT
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Thompson Nursery Road Proportionate Share Agreement - Maringa Valley Development (In the amount of $101,375.48).
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DESCRIPTION
This is a request to enter into a Proportionate Share Agreement between TELECORP GROUP, LLC (hereinafter referred to as Owner) and Polk County in the amount of $101,375.48 for certain related off-site transportation impacts to Thompson Nursery Road at US Highway 27.
The owner is actively engaged in a 256 unit townhome project (known as Maringa Valley Townhomes) that is located within the City of Winter Haven but gains direct access to Thompson Nursery Road, an urban collector roadway maintained by the County. The proposed development is anticipated to create a deficiency in Level of Service standard at the intersection of Thompson Nursery Road and US Highway 27 (specifically the east bound left turning movement). This proportionate share agreement is being entered into in order to mitigate the deficiency and satisfy transportation concurrency requirements for the Maringa Valley Townhome development.
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 the development is $101,375.48, with $92,231.41 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 Thompson Nursery Road Proportionate Share Agreement for identified roadway improvements associated with Maringa Valley Townhome Development.
FISCAL IMPACT
No Fiscal Impact associated with the agreement; however, the developer will be eligible for Transportation Impact Fee Credits n...
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