Focus Area: Economy
Staff Contact: Dianna Wright and Ron Shaver
Subject: Acceptance of a petition and consideration of Resolution 21-1031 authorizing the creation of benefit district for public improvements on behalf of Cedar Creek Development Company, LLC for the improvement of College Boulevard, Clare Road, and Cedar Creek Parkway
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Item Description:
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Acceptance of a petition and consideration of Resolution 21-1031 authorizing the creation of benefit district for public improvements on behalf of Cedar Creek Development Company, LLC for the improvement of College Boulevard, Clare Road, and Cedar Creek Parkway
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Summary:
On April 7, 2021, Cedar Creek Development Company, LLC submitted a petition (Attachment A) for the creation of a benefit district to finance the construction of College Boulevard - Cedar Niles to Clare Road, Cedar Creek Parkway - Bluestem Parkway to College Boulevard, and Clare Road - College Boulevard to Valley Parkway, including grading, storm sewer, street lighting, pavement, curb and sidewalk. The petition was signed by the owners of 55% of the land area within the proposed benefit district.
The petition estimates the total cost of the project as $31,911,048.23, of which the city-at-large would pay $5,400,000 and the benefit district would pay the balance ($26,544,045.23). The petition also requests that the City waive certain fees, with an estimated value of $2,686,429.18. This equates to a City-at-large contribution of approximately 25% of the total project costs.
The petition proposes that the costs paid by the benefit district be levied equally per square foot, for a maximum per square foot cost of $1.01.
The boundaries of the benefit district are depicted in a map attached to the petition.
Attachment B is a proposed resolution approving the petition and creating the proposed benefit district.
Staff has assembled and included the messages received through April 27, 2021, from the public about this proposed benefit district and the proposed benefit district for Bluestem Parkway and 107th Terrace which were sent to Councilmembers, staff, and OlatheConnect (Attachment C).
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Financial Impact:
This project is funded in part by a $5,400,000 City at-large contribution, plus the waiver of certain benefit district fees, and the balance of the costs are funded by special assessments levied on properties within the boundaries of the proposed College-Clare-Cedar Creek Parkway benefit district.
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Action Needed:
Consider approval of Resolution No. 21-1031
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Attachment(s):
Attachment A - Petition
Attachment B - Resolution No. 21-1031
Attachment C - Benefit District Emails