10-24-18-SWS - Laserfiche WebLink

Home Browse Search

Page 4 of 5 parks. As the Council gives direction, one driving tenet for staff will be to ensure the development is paying for itself over the course of the project. Larger issue: The City Council will want to ensure any increase in operating costs for TCAAP is offset by additional tax revenue. Infrastructure Costs In the cooperative agreement, the City is responsible for cost of the water tower on TCAAP, the trunk utilities that run along the spine road, a lift station and a booster station. The discussions thus far have been that the water tower will be paid for via a special assessment and the trunk utilities will be paid for by a City imposed Water Availability Charge (WAC) and Sewer Availability Charge (SAC). For the special assessments, the land owner will be responsible for paying the assessments, which helps reduce the risk to the City. The County has requested in the initial Cooperative Agreement the City defer assessments until properties are sold to the developer. City Staff would recommend Council not agree to this provision as it would put the City financially at risk for the cost of the water tower if the development does not proceed. For the City WAC and SAC fees, these would be collected by the City as the development progresses and paid to the County (assuming the County provides the financing for the trunk utilities). The County has requested that if the utilities are not repaid in full by 2037, the City would owe the County the remaining balance of principal and interest. Staff would recommend the Council not agree to this provision as it would put the City financially at risk if the development does not proceed. In either case, the assessments and fees will be sized appropriately to cover the costs related to the development and to ensure parties other than the City are bearing the majority of the risk. Larger issue: The Council wants to ensure the risk to the City is mitigated, and if the development were to stall or not proceed the cost to the City minimized. Associations for Services The developer is currently working on a proposal to address basic and enhanced maintenance services on TCAAP. Fee Schedule The current draft of the Cooperative Agreement notes that once the fee schedule is approved by the Joint Development Authority (JDA) it may be increased by an inflationary amount each year, but any other changes would need to be done by an amendment signed by both the City and County. City Staff would recommend that the City not accept this provision, and that the fee schedule imposed by the JDA be the same fee schedule that is updated and approved annually by the City. Larger issue: The Council wants to ensure fees charged by the development are sufficient to cover anticipated costs.