Resolution - PUBLIC HEARING - authorizing the City of Daytona Beach to enter into The Tomoka Town Center Transportation Improvements Cost Allocation Agreement, with the County of Volusia ("County"), and the North American Development Group, LLC ("NADG"), to address traffic concurrency and traffic roadway impacts occasioned by NADG's development referred to as Tomoka Town Square, and approving the proportionate fair-share contribution by NADG. The agreement provides for contribution by NADG to the County roadway concurrency management as required by the County road impact fee schedule in the amount of $1,796,043.00. The express purpose of the payment is to allow it to be held in excess of three (3) years by the County as the County assembles all of the funds necessary to conduct a meaningful widening of Williamson Boulevard between LPGA Boulevard on the south to just south of the Hand Avenue extension on the North. It is anticipated with new development, including an approximate 1.1 million square foot distribution facility soon be proposed, for the area funding for Williamson Boulevard improvements will become available.
Per the agreement, the City improvements to be received are a combination of impact fee payment (approximately $405,327.92) and physical modification or construction to wit: inbound right turn lane, dual exit left turn lanes, traffic light installation at the intersection of Outlet and Cornerstone. Installation of four (4) way stops at driveways 6 and 7. Note: It is expected driveway 6 will, with the next phase of multifamily residential development east of NADG's town center, be converted from a four (4) way stop to a traffic light. With performance of the terms of the attached roadway agreement, both City and County, concurrency requirements will be met and insure that the proposed development will conform to the terms of the City’s comprehensive plan.
James S. Morris, Deputy City Manager, to report.
Recommendation: Deputy City Manager recommends adoption of the Resolution.
Action: Motion to adopt Resolution.