HomeMy WebLinkAbout[04f] 24 North Fee Extension
Council Agenda Item \[04e\]
MEETING DATE: July 15, 2019
AGENDA ITEM:
SUBMITTED BY: Administrator (JW)
BOARD/COMMISSION/COMMITTEE RECOMMENDATION:
PREVIOUS COUNCIL ACTION:
BACKGROUND INFORMATION: The City Council approved execution of the Development Agreement for
the project entitled 24 North. This project originally started in 2014 and finalized in late 2017. The project was
anticipated to be completed in 2018 and the City allowed the Water and Sewer Access (WAC and SAC) fees to be
paid overtime. Since the project was delay, the developer is requesting to revise the payments as the building has
just received the certificate of occupancy. The project currently has a temporary certificate of occupancy with
minimal occupancy. In addition to the WAC SAC there is a $ 5,000 Storm water fee. After discussion with staff,
the following revised fee schedule is recommended:
July 2019 $ 5,000 Storm Water Fee
February 2020 $ 21,450 (paid prior to distribution of TIF Payment)
August 2020 $ 21,450 (paid prior to distribution of TIF Payment)
February 2021 $ 21,450 (paid prior to distribution of TIF Payment)
August 2021 $ 21,450 (paid prior to distribution of TIF Payment)
February 2022 $ 21,450 (paid prior to distribution of TIF Payment)
August 2022 $ 21,450 (paid prior to distribution of TIF Payment)
BUDGET/FISCAL IMPACT:
ATTACHMENTS: Exhibit B of the recorded Development Agreement
REQUESTED COUNCIL ACTION: Authorize the extension of the water and sewer payments for the 24 North
Project with 2 annual payments in 2020, 2021 and 2022.
•
EXHIBIT B
(Water/Sewer and Trunk Fee Calculation)
Phase I - Construction of a multi use facility to include 17 dwelling units and 3,659 square feet of combined
retail and restaurant.
WAC Type
17 Units Residential Dwelling $ 5,000.00 $ 85,000.00
I Units Retail $ 5,000.00 $ 5,000.00
2 Units Restaurant(1/24 seats) $ 5,000.00 $ 10,000.00
1 Units Credit,previous connection $ (5,000.00) $ (5,000.00)
$ 95,000.00
SAC 17 Units Residential Dwelling $ 2,300.00 $ 39,100.00
1 Units Retail $ 2,300.00 $ 2,300.00
2 Units Restaurant(1/24 seats) $ 2,300.00 $ 4,600.00
1 Units Credit,previous connection $ (2,300.00) $ (2,300.00)
$ 43,700.00
TOTAL $ 138,700.00
Phase 1 -Payment for WAC/SAC
March 2018 $ 10,000.00
February 15,2019 $ 36,500.00
February 15,2020 $ 46,500.00
December 15,2020 $ 45,700.00
$ 138,700.00
*Note: The WAC and SAC and for the Restaurant and retail is estimated at this time.
When the retail and restaurant plans are finalized,the WAC/SAC will be reviewed at which
time additional fees may be due. The fee will be based on Ordinance 404 and the
applicable square footage
Phase II - Construction of a four unit condominium unit-the WAC/SAC will be determined with the building
permit and will be chared according to the fee schedule at the time and Ordinance 404
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