Focus Area: Legal
Staff Contact: Ron Shaver, Kate Messer
________________________________________________________________________________
title:
title
Consideration of Resolution No. 26-1080 determining the advisability of making certain internal improvements within the City pursuant to K.S.A. 12-6a01 et seq., including the construction of Brougham Drive from 167th Street to 171st Terrace, and related public improvements.
Body
________________________________________________________________________________
recommended motion:
Approve item as a part of consent agenda.
________________________________________________________________________________
Summary:
Olathe city staff have been working with Stonebridge Land & Cattle, LLC and 175 Partners, LLC to provide construction of a roadway, known as Brougham Drive, and related benefit district from 167th Street to 171st Terrace.
The project includes the construction of a city collector street at approximately 2,585 linear feet, 5 feet wide sidewalks both sides of the street, associated storm sewer, and 12 streetlights.
The total cost of the improvements is estimated at $2,741,573.92. Properties within the Improvement District will be assessed 100% of the cost of the improvements on a per square foot basis. The assessments levied against the property will pay debt service on the City’s general obligation bonds issued to finance the project. The term of the assessments will be 10 years, which is in compliance with the City’s Benefit District Policy.
2 parcels are included within the Improvement District. The Development Agreement between Land & Cattle, LLC and 175 Partners, LLC (Developer) and the City, provides that the Developer will construct the road and provide construction financing costs. Once the project is complete, the City will issue general obligation bonds to permanently finance the project.
________________________________________________________________________________
Financial Information:
The total cost is estimated at $2,741,573.92. The cost will be apportioned on a per square foot basis to the property owner(s).
________________________________________________________________________________
Attachment(s):
A: Petition
B: Development Agreement
C: Draft Resolution
D: Proposed District Map