Title
Appropriate Private Developer Funds
Action
Action:
Adopt a budget ordinance appropriating $513,705 in private developer funds for infrastructure improvements to the General Capital Projects Fund from the following developers:
- EBA Crystal Real Estate, LLC
- Phillips Place Owner II, LLC
Body
Staff Resource(s):
Phil Reiger, General Services
Jennifer Smith, General Services
Veronica Wallace, General Services
Explanation
§ Private developer agreements and appropriations are needed when a developer is required through the city rezoning process to make infrastructure improvements.
§ The private developers are providing funds to the city, and the city will construct the required improvements on behalf of the developers.
- EBA Crystal Real Estate, LLC contributed $413,705 for the JW Clay Boulevard Streetscape Project (Council District 4).
- Phillips Place Owner II, LLC contributed $100,000 for the South Park Comprehensive Neighborhood Improvement Project for LOOP Improvements (Council District 6).
§ The developer contribution is based on agreed upon amounts during the rezoning process.
Fiscal Note
Funding: Private Developer Contributions to the General Capital Investment Plan
Attachments
Attachment(s)
Map
Budget Ordinance