SUBJECT:
Title
Request Approval of Developer’s Agreement for Heritage Oaks Concerning Proportionate Share of Intersection Improvements at SE 73rd Avenue and CR 42, Application Number 30516 (Budget Impact - Revenue of $72,111.60)
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INITIATOR: |
DEPARTMENT: |
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Steven Cohoon, P.E., County Engineer |
Office of the County Engineer |
DESCRIPTION/BACKGROUND:
The developer, Southeast 73rd Ave., LLC, proposes to develop a residential project known as Heritage Oaks. The Heritage Oaks traffic impact analysis, dated November 2023 and accepted by the County, identified the need for a southbound left-turn lane on SE 73rd Avenue at CR 42 to mitigate the project’s transportation impacts.
The County has not yet secured the additional ROW necessary for the identified turn-lane improvement. The agreement therefore allows the Heritage Oaks developer to satisfy its proportionate-share obligation through payment to the County rather than construction at this time. The developer obtained an estimate of $160,248, representing 120% of the estimated cost of the identified improvement. The agreement recognizes the developer’s proportionate share as 45%, resulting in a payment of $72,111.60. The agreement also grants impact fee credits in the amount paid. As the improvement is not included in the County’s 5-year Transportation Improvement Plan (TIP), a super majority vote of the Board is required for issuance of the impact fee credits.
Lastly, the Villages of Marion PUD, located north of Heritage Oaks, is subject to a 2024 development agreement requiring signalization and turn-lane improvements also at SE 73rd avenue and CR 42 as specified development thresholds are reached. The Heritage Oaks proportionate-share payment may be applied toward these future intersection improvements once the necessary ROW is available, allowing the improvements to be coordinated rather than constructed separately.
BUDGET/IMPACT:
Revenue to Impact Fee East of $72,111.60
RECOMMENDED ACTION:
Recommended action
Motion to approve and authorize the Chairman and Clerk to execute the attached developer’s agreement.
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