TO: Honorable Mayor & Members of the North Port Commission
FROM: Peter D. Lear, CPA, CGMA, City Manager
TITLE: River Road and Impact Fee Update
Recommended Action
Discussion regarding the amount and type of funding commitment the City is willing to provide for the widening of River Road from Transportation Impact Fees
Background Information
The widening of River Road has been a long-standing priority for the City of North Port, Sarasota County and the Metropolitan Planning Organization (MPO). Sarasota County has been negotiating with the State of Florida regarding this project. As part of the widening efforts, Sarasota County is applying for a State Infrastructure Bank (SIB) Loan. As part of that loan, the County is looking to pledge impact fees collected in North Port for Sarasota County. Also, Sarasota County is looking for a pledge from the City of North Port for impact fees to help repay the debt. Currently, the City collects Transportation Impact Fees in the West Villages Improvement District that could be used for this repayment pledge. The amounts for the last three years in the West Villages has been:
2016 $ 912,053
2017 $ 993,038
2018 $1,342,048 (as of September 27)
2019 $1,648,600 (budget)
At the July 10th Commission meeting, the City Commission discussed several options for providing funding for the expansion of River Road. The discussion ensued with additional information being requested. The City Attorney has provided a memo on impact fee usage, attachment 1. Also, the requested amount of Transportation Impact Fees and planned uses from the budget have been attached as attachment 2. The Commission also requested if the commitment for funding of River Road would have an impact on future SIB Loan applications and interest rates. The planned agreement with Sarasota County would be structured so that the impact of pledging only a percentage of revenues collected in the West Villages Improvement District (WVID) for River ...
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