Commission Meeting Agenda Item
Agenda Item Title
Consideration of the Water, Sewer and Reuse Utility Agreement for the Rolling Acres Reserve Apartments ― Requesting Utilities Capacity Reservation of 49 Water ERUs, 48 Sewer ERUs and 32 Reuse ERUs for an approved 92-unit Apartment Complex Project across six buildings and featuring 183 parking spaces, Lift Station, Trash Compactor and Landscaping Buffers, on an 8.12-acre parcel zoned Light Commercial, owned by Rolling Acres Club III Investment Partners LLC, and identified by Alternate Key 1279861.
Agenda Item ID
Staff Recommended Motion
Staff recommend approval of the Water, Sewer, and Reuse Utility Agreement for the Rolling Acres Reserve Apartments
Rolling Acres Club III Investment Partners, LLC, is the property owner of approximately 8.13 acres along Highway 466, lying west of Rolling Acres Road, identified by Alternate Key Number 1279861. The Rolling Acres Reserve Apartments is a town-approved project consisting of 92 units across six buildings, providing 183 parking spaces, a trash compactor, a lift station, and landscaping buffers. The property is zoned Light Commercial (LC), and the Future Land Use is RET-Commercial General – Retail Sales and Services, which allows for the apartment complex and is compatible and consistent with the Town’s Comprehensive Plan.
In order to serve the approved development with water, sewer and reuse capacity, the owner/developer is seeking to reserve 12,210 gallons per day or 49 Equivalent Residential Units (ERUs) for water, 11,960 gallons per day or 48 Equivalent Residential Units (ERUs) for Sewer, and 8,768 gallons per day or 32 Equivalent Residential Units (ERUs) for Reclaim/Reuse Water.
The Developer has agreed to utilize the Town's water, sewer, and reuse facilities to benefit the Development and to the terms and conditions hereinafter set forth in the attached Agreement, as provided by Utility (The Town). The applicant will have 30 days from the execution of this agreement to pay for the capacity.
The lump sum for the total ERUs allocation is $234,635.00. Should Developer fail to pay the corresponding Impact Fees allocations as provided herein, the Town, in its sole discretion, may rescind and void this Agreement in its entirety.
This agreement was reviewed by the Town Attorney, Derek Schroth and Town Staff and determined correct in form for consideration and approval by the Town Commission.
$234,635 will be credited toward the respective capital improvement funds for water and sewer utilities.
Source of Funding