8C, City - County Joint Powers Agreement for TCAAP

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an average of$37,500 per year for the cost of the planning documents. If the redevelopment started in 2015; then over a 12 year period ending in 2027 the city would recapture $450,000. Infrastructure The County is responsible for the financing and construction of a"Spine Road"that will connect County Highway 96 and the County Road H intersection at I-35 W(section 3.4.3.). The County is also responsible for causing off-site transportation improvements (section 3.4.4.). The City is responsible for the construction of the City public improvements (section 3.5.2). At the October 291h work session the Council had questions about the funding of the utilities. At the work session, I indicated that the County would commit to repaying the City for the trunk utilities so we could make bond payments. I have subsequently learned that the commitment from the County would need to be timed according to the selling of the land. Therefore while the County would guarantee repayment for the trunk utilities, it could not commit to a set repayment schedule. This approach is not acceptable to the City and, accordingly,this section of the JPA has changed. Section 3.5.2. of the JPA now states that the City will not construct the public improvements unless the cost can be charged to a developer pursuant to the City's petition process. This method of requesting and installing utilities, and repaying bonds for utilities for a development is a typical way of doing projects. Much like the repayment example above for the AUAR and Master Plan; the funding for the trunk utilities could be as follows: Take the same net developable 300 acres and using a cost figure of$6 million for trunk sewer, water, and storm sewer; then you end up with a$20,000 cost per acre for trunk utilities. This approach will equalize the cost and benefit for trunk utilities throughout the TCAAP site. A feasibility study for trunk utilities will need to be completed and the $6 million figure above is just an estimate that the City obtained after meeting with a consulting firm. The difference between the utilities example and the AUAR/Master Plan example is that the utilities would be phased-in and would only be installed when petitioned for by a Developer and the planning documents will be financed on the front end of the project. The City and the County will share the cost of the storm water ponding system (section 3.7.). Funding for regional ponding has not been discussed in detail but it is expected that this improvement will also be developer driven and financed. The developer petition approach will be used for site specific proposal in order to install the internal streets and lateral utilities. 4