Title
Approving a credit agreement for roadway impact fees with LRF2 AUS Meister Lane LLC, in the amount of $2,141,521.44 for the construction of an extension of Kenney Fort Blvd, located south of SH 45 generally between Meister and New Meister Lane; and authorizing the City Manager to execute the same.
Summary
The proposed credit agreement is for property located generally northeast of Meister Lane and New Meister Lane, locally known as the Longhorn development. The property is zoned as Campus Industrial (CI) district and proposed to be developed with light industrial, warehouse type buildings and office. The proposed credit agreement requests a portion of the roadway impact fees normally paid at time of building permit to be applied toward constructed roadway infrastructure improvements which will increase capacity and connectivity in the area. As part of the development, Kenny Fort Blvd is being constructed to provide a future connection to the road being constructed in Round Rock. As part of the City Transportation Master Plan (TMP), the extension of Kenny Fort Blvd is planned to be extended from the south side of SH45 where the Round Rock extent will terminate to New Meister Lane. The road extension will provide regional connectivity and increase capacity in the roadway network in the area.
The City adopted the roadway impact fees program via Ordinance 1470-20-11-24 on November 24, 2020. Per the ordinance, upon the issuance of a building permit, payment of roadway impact fees is required. The ordinance also authorizes the City to enter into a credit agreement with an owner/developer of a tract of land which is required to construct a roadway identified in the Roadway Impact Fee Capital Improvements Plan as reflected in the Roadway Impact Fee ordinance, or for a facility that qualifies for inclusion on the Transportation Master Plan, as amended, and the city agrees that such improvement supplies capacity to new developments other than the development pay...
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