| | | | | | | | | City of Independence | | AGENDA ITEM COVER SHEET |
|
| | | | | | | | Agenda Title:
2nd Amendment to the Intergovernmental Cooperative Agreement between the Noland Road Community Improvement District and the City of Independence. |
| | | | | | | | Recommendations:
Staff recommends approval |
| | | | | | | | Executive Summary:
If approved, this action will authorize the City Manager to execute the 2nd Amendment to the Intergovernmental Cooperative Agreement between the Noland Road CID and the City of Independence to facilitate significant improvements to public spaces in the Noland Road corridor as described in the agreement. The CID is proposing to undertake public improvement projects totaling $3,610,000, along with $102,500 in annual maintenance expense, and asking the City to waive permit fees and tap fees. |
| | | | | | | | Background:
In December, 2014, the City Council approved the formation of the Noland Road CID for the purposes of improving the Noland Road corridor. In March 2015, the City and the CID entered into an Intergovernmental Cooperative Agreement to facilitate future improvements. In October 2019, the Council approved the 1st Amendment to the original agreement to identify specific projects to be undertaken by the CID. Now the Council is being presented with the 2nd Amendment to the agreement, which details 4 significant public improvement projects to be funded by the CID. The CID estimates that it will spend $3,610,000 on these projects, with an additional $102,500 annual cost for maintenance. The CID is requesting permission to undertake these projects, subject to approval of plans, and asks the City to contribute to the projects by waiving permit fees and tap fees. |
| | | | | | | |
Fiscal Impact:
Waived fees total $4,830 in potential future revenue, of which $2,520 would have been Water Fund revenue and $2,310 would have been General Fund revenue. These revenues are not reflected in the 2020-21 Budget.
Offsetting these costs and waived revenues: a $3,610,000 one-time project contribution from the CID plus $102,500 in annual expenditures to maintain corridor improvements.
|
| | | | | | | | | Department: | Contact Person: Mark Randall |
|
| REVIEWERS: | | Department | Action | | City Managers Office | Approved | | Finance Department | Approved | | City Managers Office | Approved | | City Clerk Department | Approved |
|
| | | | | | | |
| Council Action: | Council Action: |
|
|