7.
City Council Work Session
- Meeting Date:
- 10/25/2016
- From:
- David Wessel, Metro Planning Org Manager
- Department:
- Planning & Development Services
Co-Submitter:
Mark Landsiedel
TITLE:
Lone Tree Traffic Interchange Development Impact Relations
DESIRED OUTCOME:
To receive Council guidance on whether or not to apply development proportional share to the cost and impacts of the Lone Tree Traffic Interchange.
EXECUTIVE SUMMARY:
The Lone Tree Traffic Interchange has increased greatly in cost making the timing of its construction very uncertain. Meanwhile, it remains a demonstrably important part of the long range regional plan. Given the first statement, the Council may direct staff to not apply proportional share of the traffic interchange costs to development. Given the second statement, the Council may direct staff to continue to apply proportional share of costs to development.
The traffic interchange is found in plans dating back to 1987. The cost has increased from $26,000 to over $100,000,000. Developers may end up contributing to a project that may not benefit their respective projects for a long time. Those contributions could be used for other improvements. Paying for the interchange will be a challenge for the City. Developer shares will offset a small part of the cost - less than 10% - however, this funding sources will demonstrate a potentially valuable private sector partner to prospective funding agencies.
The traffic interchange is found in plans dating back to 1987. The cost has increased from $26,000 to over $100,000,000. Developers may end up contributing to a project that may not benefit their respective projects for a long time. Those contributions could be used for other improvements. Paying for the interchange will be a challenge for the City. Developer shares will offset a small part of the cost - less than 10% - however, this funding sources will demonstrate a potentially valuable private sector partner to prospective funding agencies.
INFORMATION:
COUNCIL GOALS:
6) Provide a well-managed transportation system
REGIONAL PLAN:
Goal T.1 Improve transportation mobility and access.
6) Provide a well-managed transportation system
REGIONAL PLAN:
Goal T.1 Improve transportation mobility and access.