Chelsea Boulevard is a two-lane roadway between Allen Commerce Parkway and SH 121 at present but will ultimately be a six-lane divided roadway as development occurs.  With their project, the Cyrus One development is extending two lanes of Chelsea Boulevard north approximately 635 linear feet.

The Allen Land Development Code provides that "Any construction of, contributions to, or dedications of any facility appearing on the capital improvements plan which is required by the City to be constructed by the owner as a condition of development shall be credited against the impact fees otherwise due from the development." Chelsea Boulevard improvements would qualify for reimbursement under this provision as it is identified as a Capital Improvement in the Impact Study Fee.

The developer has paid $453,321.40 in roadway impact fees, but reimbursement would not exceed $206,861 under this agreement.

The reimbursement will be the actual construction cost of the Chelsea Boulevard improvements but will not exceed $206,861. Funding will come from Roadway Impact Fees. Payment will be made after completion and acceptance of Chelsea Boulevard improvements.

Staff recommends that Council authorize the City Manager to execute an Impact Fee Reimbursement Agreement with C-1 Allen LLC Regarding Chelsea Boulevard Improvements.

I make a motion to authorize the City Manager to negotiate and execute an Impact Fee Reimbursement Agreement with C-1 Allen, LLC Regarding Chelsea Boulevard Improvements.