Title
Dixie Berryhill Infrastructure Improvements Phase II
Action
Action:
A. Approve updated terms to the 2017 River District Tax Increment Grant with Crescent River District LLC for future infrastructure improvements from $15,000,000 to $25,000,000,
B. Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with Crescent River District LLC for public improvements along Garrison Road North, in an amount not to exceed $27,000,000, which is expected to be reimbursed in multiple Future Bond Referendums, or in a combination of payments from other municipal sources of funding,
C. Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with Crescent River District LLC for design and construction of a 16-inch water main along Garrison Road North, in an amount equal to 50 percent of the approved overall project cost, not to exceed $900,000 which will be reimbursed through the Charlotte Water Capital Investment Plan, and
D. Authorize the City Manager to negotiate and execute an Infrastructure Reimbursement Agreement with Crescent River District LLC for design and construction of Phase III of the Beaver Dam Creek trunk sewer, in an amount not to exceed 34 percent of the approved overall project cost, not to exceed $400,000 which will be reimbursed through the Charlotte Water Capital Investment Plan.
Body
Staff Resource(s):
Tracy Dodson, City Manager's Office
Lilias Folkes John, Economic Development
David Czerr, Charlotte Water
Explanation
* This agreement is contingent on the city securing a successful public private partnership with Beemok Sports as the new home for the Western & Southern Open on over 50 acres in the River District.
* Crescent River District LLC (Developer) plans to redevelop approximately 1,380 acres on the west side of Highway 485 through development of a master planned community for office, retail, hotel, and a variety of residential uses, with specific pedestrian and...
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