Title
CONSIDER REQUEST TO CREATE A PETITION TO FORM THE BEECH STREET LOCAL IMPROVEMENT DISTRICT
COUNCIL STRATEGIC INITIATIVE ADDRESSED:
Improve transportation system
Strengthen economic conditions & create new opportunities
CITY ATTORNEY REVIEW: N/A
SUMMARY STATEMENT:
WRSCO, Inc., a property owner located at 645 California Way, submitted a request for the City to form a Local Improvement District (LID) to fund construction of Beech St. from 14th Ave. to California Way. WRSCO represents about 49 acres of undeveloped land south of the Beech St. right-of-way between 14th Ave. and California Way. The new roadway to be built is approximately ½ mile long and would provide local access to this area.
Staff met with WRSCO on June 13, 2017 to discuss the LID process and timeline, potential challenges, preliminary engineering options, construction cost, and the assessments that would be charged against all benefitting properties. WRSCO would like to continue with the LID process and has asked the City to prepare the information needed and create a formal LID petition. Staff will make a presentation during the council meeting identifying potential costs and risks associated with forming the proposed LID.
FINANCIAL SUMMARY:
The total project cost is estimated to be $5.1 to $6.4 million. The City has collected funds earmarked for intersection improvements at 7th Ave & California Way, consisting of $250,000 from nearby commercial developments and a Cowlitz County Rural Economic Fund Grant of $75,000 that can be applied to the project.
City staff has estimated up-front costs for preliminary engineering, special benefit analysis, feasible study, and creation of a petition to be approximately $150,000 to $200,000. If LID formation is successful, these up-front costs would be reimbursed by the LID.
RECOMMENDED ACTION:
Motion directing the City Manager to draft a Developer Agreement with WRSCO, Inc. to share costs of preparing a petition to form the Beech S...
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