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Title
Developer Participation Agreement with Aerofirma Corp. for Prairie Gate Phase II Development of Westcliff Road for a not to exceed amount of $540,000
Presenter
Gabe Johnson, Director of PublicWorks
Recommended Action
Approve
Analysis
Prairie Gate Phase II Development is the retail/commercial development at Westcliff Road in Grand Prairie. This site is currently an asphalt road. In an effort to attract retail/commercial developments at this location, developer Rodney DeBaun of Aerofirma Corp., has proposed constructing the necessary roadway infrastructure to prepare the area for development and to serve other adjacent properties and provide service to additional properties. Mr. DeBaun’s Prairie Gate Ph II Development will have approximately 10.5 acres of commercial/multi-family in the Development.
This agreement is proposed for construction with the City and the Prairie Gate Ph II Development including paving and drainage that will allow this area to be "Development Ready." This agreement covers the City CIP portion that the Developer is constructing instead of the City constructing to take advantage of the other work done by the Developer. This is being done at a substantial savings to the City' CIP for this infrastructure.
Project will include design, demolishing of existing asphalt road and concrete replacement with drainage for 935' of 37' back of curb new concrete street per City Specifications. It will also include 10' grass installed on East and WEst sides of the street.
Estimated Total project cost will be $1,080,000 for Westcliff Road from Fish Creek Road to IH 20. Aerofirma has agreed to enter into this development agreement with the City to get this much needed road improvement completed for a 50/50 split between Aerofirma and the City of Grand Prairie.
All public participation in the cost of the Public Improvements associated with the project is dedicated to the extension of the improvements as per the Capital Improvements Plan, to increase necessary capacity for existing and in anticipation of other future development in the area as approved in the City's Capital Improvement Projects budget. Further, the City’s participation shall be based on funds appropriated for this project in the Capital Projects Funds. The City’s participation amount will remain applicable for a period not to exceed 24 months. If work on the Public Improvements has not been initiated within 24 months of the date this Agreement was executed and the Agreement has not been amended by the City Council to provide for an extension, then this Agreement shall be terminated and the City will have no further obligation under this Agreement. This item will be reviewed by the Finance and Government Committee at its meeting held on May 5, 2020.
Financial Consideration
Funding for the Developer Participation Agreement for Prairie Gate Phase II Development of Westcliff Road, for a not to exceed amount of $540,000, is available in the Street Capital Project Fund (400192) WO #02007303 (FY20 Developer Participation STRT)