2004_0719_Packet - Laserfiche WebLink

Home

Infrastructure Replacement funds are specifically designated for the replacement of existin� roadwavs and are committed to previously identified proj ects for the next 5-7 years. The City could look for alternatives such as seeking federaUstate/county monies, creating a transportation utility, etc., but the reliability of these monies are uncertain at this time. As a further alternative, the City could change the alignment and/or design to create small or no streets within portions of Twin Lakes. However, this would likely create other impacts. Policy #7: Assessments for New Development The use of special assessments to fund infrastructure costs, remain a consideration within the Twin Lakes Redevelopment Area. The City's current assessment policy calls for the development to pay for 100% of the applicable infrastructure costs, including road, utilities, ponding, etc. Consideration should be given whether the added infrastructure, including Twin Lakes Parkway, should be included in that calculation in part or in whole. This will necessitate a discussion on whether the infrastructure serves a need outside of the project area, and depending on the outcome, would certainly have a fmancial impact on the overall costs that are attributable to the proj ect. Final Comments The policy issues identified above should be considered in the context of what potential benefits are derived if the Twin Lakes area is redeveloped. Successful cities make considerable effort to assess the risk/reward relationship that exists with redevelopment projects, and the potential economic development and fmancing tools that are available.