LOCATION MAP/AERIAL COM-2 site is acres

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Presentation transcript:

Shoppes of Palm Coast Transportation Improvements Agreement City Council Workshop April 12, 2016

LOCATION MAP/AERIAL COM-2 site is 12.91 acres Located at SE Corner of SR 100/Belle Terre Blvd. Owner/Developer is PV – Palm Coast, LLC

BACKGROUND On June 3, 2015 Master Plan was approved by PLDRB Five Lots Over 60,000 sq. ft. of Commercial Uses Common Area Tract

BACKGROUND Applicant will act as developer and sell off all five lots to end users Three lots are under contract: Lot 2 to Gate Lot 3 to Aldi Lot 4 to TSC

Final Plat On April 19, City Council is scheduled to review the Shoppes of Palm Coast Final Plat Applicant will dedicate 12’ along west edge of Lot 1 on Final Plat, at no cost to City, for ROW improvements

Transportation Impact Fee Agreement Development was not required to make off-site transportation improvements except for a right turn lane along SR 100 into the project and sidewalks along Belle Terre Blvd. and SR 100 City and developer have identified other transportation improvements that will benefit City residents regarding future roadway capacity Agreement allows these improvements to be made once sufficient impact fees have been generated by end users of project

Traffic Improvements Improvement “A” Northbound Right Turn Lane at SR 100 with Pedestrian Crosswalk Upgrades Improvement “B” Southbound Left Turn Lane into Project’s S. Entrance

ESTIMATE OF IMPACT FEES GENERATED/PROJECT COSTS Lot # Lot Description Transportation Impact Fees to be Generated 2 Gate Gas $124,000 3 Aldi Grocery $171,000 4 Tractor Supply $127,000 Fee Generation Estimate $422,000 (For Lots Under Contract) Improvement Costs Estimate $250,000 - $350,000 Additional Fee Generation Estimate $348,000 (For Lots 1 and 5)

Next Steps City Council Public Hearing on April 19, 2016 Transportation Impact Fee Agreement Final Plat for Shoppes of Palm Coast City receives transportation impact fees from retailers Developer provides City an engineering bid and then three construction bids for review Agreement also allows City option of designing and constructing improvements

Questions ?