Agenda Item Name:
Title
Springhills District (PREIT Project) Transportation Improvement Agreement between and Alachua County and Linz, Inc
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Presenter:
Jeffrey Hays, AICP 352-374-5249 x6971
Description:
An agreement between Linz, Inc. and Alachua County related to transportation improvements associated with the Springhills Transit Oriented Development. The agreement details the funding and financing of offsite transportation and transit service and site related operational and safety roadway improvements.
Recommended Action:
Recommended Action
Approve the Springhills District (PREIT Project) Transportation Improvement Agreement and authorize the Chair to sign the Agreement.
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Prior Board Motions:
October 28, 2014: Commissioner Hutchinson moved to adopt the ordinance creating the Springhills Transportation Improvement District and authorizing the appropriation of lawfully available non-ad valorem revenues to fund obligations under the agreement between Alachua County and Santa Fe Village and the anticipated agreement between Alachua County and PREIT including change.
Motion carried 4-1 with Commissioner Baird voting "Nay"
Fiscal Consideration:
Fiscal Consideration
This agreement will require allocation of future non-ad valorem revenues based upon a calculation of the percentage increase in new general ad valorem revenues within the PREIT Increment Area as defined in the Springhills Transportation Improvement District Ordinance. The percentage shall be 30% between 2020 and 2042. The covenant to budget non-ad valorem revenues could reduce the County's debt capacity in future years.
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Background:
This proposed Agreement between Linz, Inc. and Alachua County would provide for the construction of public infrastructure and the provision of public transit service in accordance with the Preliminary Development Plan and Comprehensive Plan requirements for the Springhills Transit Oriented Development (TOD). Linz has recently purchased the Spr...
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