Subject:
Title
Approval, RE: The Traffic Impact Fee Credit/Reimbursement Agreement between Brevard County, the City of West Melbourne, and DHIC-Hammock Landing LLC. (First Hearing)
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Fiscal Impact:
Pursuant to the adopted Transportation Impact Fee schedule, the anticipated Transportation Impact fees for this project is $714,300. This Agreement requires the Developer to construct intersection improvements at Minton Road and Heild Road. The current estimate cost of these improvements are $947,763.
Dept/Office:
Planning and Development
Requested Action:
Recommendation
It is requested that the Board of County Commissioners consider approval of the Agreement with the City of West Melbourne and DHIC-Hammock Landing.
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Summary Explanation and Background:
DHIC - Hammock Landing, LLC (the "Developer") owns approximately 30 acres of property east of Minton Road, south of Norfolk Parkway, west of the Luminary at 95 apartments, and north of the Palm Crossings shopping center (the "Property"), located within the City of West Melbourne. The Developer is in the process of developing a 12-building, 300 dwelling unit, residential apartment project with attendant amenities, known as Ascend at Hammock Landing (the "Project").
The Developer is seeking a proportionate fair share agreement with the City of West Melbourne and Brevard County for cost of certain off-site improvements to the road network. The developer has agreed to construct westbound left-turn signal phase at the intersection of Minton Road, Hield Road and the Project driveway which includes conversion of the existing signal from span wire to mast arms. These improvements will increase the roadway capacity by 288 average daily trips, of which 127 trips will be consumed by the Project. Accordingly, the Developer's proportionate share of the eligible intersection improvements will be 44.1% of the actual cost which are estimated to be $947,763. The Project is expected to generate $714,300 in Transportation ...
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