Focus Area: Legal; Economy; Infrastructure
Staff Contact: Ron Shaver; Chet Belcher; Nate Baldwin
Subject: Cooperative Agreement for Public Improvements regarding the Park 169 development project with Blue Springs Safety Storage South, LLC.
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title:
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Consideration of a Cooperative Agreement for Public Improvements regarding the Park 169 development project with Blue Springs Safety Storage South, LLC.Body
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Summary:
On August 20, 2024, the City Council adopted Ordinance No. 24-32, RZ-24-0005, which rezoned approximately 244 acres situated to the east of 169 Highway between 159th Street and 167th Street from the CTY PEC-3 (County Light Industrial) District to the R-1 (Single Family), R-2(Two-Family), R-3 (Low-Density Multifamily) and M-2 (General Industrial) Districts. The rezoning ordinance includes stipulations for the construction of several offsite improvements, including certain improvements to the intersection of 159th Street and 169 Highway. Based on the traffic study submitted with the rezoning case, the project is responsible for approximately 15% of the increased traffic demand at the intersection of 159th Street and US-169 Highway, necessitating certain future improvements consisting of an additional southbound left turn lane, an additional eastbound through lane and separate eastbound right turn lane, and a second westbound through lane and separate westbound right turn lane.
The attached agreement with the owner/developer, Blue Springs Safety Storage South, LLC (Attachment A) provides for the developer to construct all on-site and immediately adjacent public improvements necessitated by and stipulated in the rezoning case related to construction of the Project (those improvements that are not included within the aforementioned improvements to the intersection of 159th Street and 169 Highway). The developer will also pay all transportation improvement excise taxes (approximately $2.2 million) for each phase of the project in the form of service assessments in levied accordance with Charter Ordinance No. 71 (except for those portions of the project zoned R-1, which excise taxes will be paid by the developer with each plat). Lastly, the developer will pay $700,519 toward the cost of the 159th and 169 Highway improvements within 30 days of the effective date of the agreement. The City would construct those improvements at a later date.
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Financial Impact:
Total investment in the project is anticipated to be $252,865,701 for the commercial portion of the project alone, with additional investments to be made for the residential portions of the project.
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Action Needed:
Approve the Cooperative Agreement for Public Improvements regarding the Park 169 development project with Blue Springs Safety Storage South, LLC.
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Attachment(s):
A. Cooperative Agreement for Public Improvements