Commission Meeting Agenda Item

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.