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HomeMy WebLinkAbout2013-04-30 - Agendas - Final Street Committee Street Committee Members Ii Members Matthew Petty-Chairman a e evle Adella Gray Rhonda Adams TARKANSAS Justin Tennant Agenda City of Fayetteville, Arkansas Street Committee Meeting April 30, 2013 A meeting of the Fayetteville Street Committee will be held on April 30, 2013 at 6:15 pm or immediately following the Equipment Committee Meeting in Room 326 of the City Administration Building located at 113 West Mountain Street, Fayetteville Arkansas. AGENDA: 1. Call Meeting to Order by Chairman Matthew Petty. 2. General Update of the Transportation Bond Program. 3. RUPPLE ROAD IMPROVEMENTS-Review of cross sections for portions of Rupple Road to be constructed as part of the Transportation Bond Program. 4. THE HOUSES AT WILLOW BEND-Review of a draft City Council resolution expressing the intent of the City to provide partial infrastructure funding for the Houses at Willow Bend. (Staff requests a recommendation from the Committee for this item.) 5. STREET COMMITTEE NAME AND POWERS AND DUTIES-Review of proposed revisions to the Street Committee name and the powers and duties of the Committee. (Staff requests a recommendation from the Committee for this item.) 6. Adjourn THE CITY OF FAYETTEVILLE,ARKANSAS Taywel evlleENGINEERINGOIVISION R7271 12SWestMnuetamFayetteville,AF 73701 A RKAN5A5 Phone (97914943443 CITY OF FAYETTEVILLE TRANSPORTATION BOND ISSUE PROGRESS REPORT—April 2013 The Transportation Bond Issue consists of projects that will be designed, contracted, and administered by City Staff or consultants/contractors working for the City, along with 3 projects that will be designed and administered by the Arkansas State Highway and Transportation Department(AHTD). Five projects have been completed; most of the other projects are underway and are in various stages of design or construction. A summary of the status of these projects follows. Funding for the Bond Program includes $65.9 million in bonds, issued in three separate bond issues, along with federal aid funding and additional sales tax funding from the City's Capital Improvements fund. The third phase of bonds, which will yield approximately $31 million in funds available for projects, is scheduled for the 3`d quarter of 2014. 1) Wilson Park/Washington Willow Area Traffic Calming a. Project Summary/Status • Complete. Original Budget: $384,000 Final Cost: $205,000 2) Intersection improvements at Gregg Ave. and North Street a. Project Summary/Status • Complete. Original Budget: $1,082,000; Final Cost: $690,000 3) Zion Road (N. College to Vantage) a. Project Summary/Status • Complete. Original Budget: $2,540,000; Final Cost: $2,272,000 4) College Avenue (Rock to Maple) a. Project Summary/Status • Complete. Original Budget: $1,740,000; Final Cost: $1,841,000 5) Mount Comfort Road (1540 to Rupple Road) a. Project Summary/Status • Complete. Original Budget: $10,413,000; Final Cost: $10,220,000 6) Cato Springs Road (U of A Technology Corridor) a. Project Summary/Status • Project consists of reconstruction and widening to 2 and 3 lanes, with curb and gutter and sidewalks, from Hwy 71B to Razorback Road. • Total Project budget: $6.02 million • Federal funding expected: $2.88 million • Construction Contract: $3,815,172 with Dean Crowder Construction Telecommunications Device for the Deaf TDD(479)521-1316 113 West Mountain-Fayetteville,AR 72701 THE CITY OF FAYETTEVILLE,ARKANSAS b. Recent Actions: • Final paving and striping on the west end of the project, between the bridge and Razorback Road has been completed. • Earthwork and curb and gutter installation is continuing on the east end of the project. c. Upcoming Activities: • Earthwork and curb and gutter installation, will occur over the next month, in advance of the paving on the east end. • Sidewalk and final cleanup on the west end. • Final paving on the east end of the project is planned to be completed by the end of June, and the completion of all work will be by the end of July. 7) Fayetteville Expressway Economic Development Corridor a. Project Summary • Federally funded project that is intended to provide better access to the retail centers and restaurants in the Northwest Arkansas Mall area and to Washington Regional Hospital and adjacent medical park. • Federal Funds expected: $8 million • Total Project Budget: $10 million • 3 projects have been selected for funding in the project area by the Street Committee and City Council: Extension of Van Asche Drive from Gregg Avenue to Hwy 112, westbound "flyover" from Hwy 7 1 B to Fulbright Expressway, and intersection improvements at Fulbright Expressway/Shiloh/North Hills Blvd. b. Roundabout Project: • Construction on the roundabout is complete. Operation of the roundabout is being evaluated, to determine the need for additional striping, markings, and signage. c. Flyover Project: • The Highway 71B Flyover Project is under construction by Emery Sapp and Sons of Springfield, Mo. The contract time began running on January 28, 2013, with 18 months allotted for construction. Current and upcoming activities include: o Work is in progress on several of the concrete pier foundations and walls. o Work on College Avenue, that will affect traffic on College, has been delayed by weather. This work is expected to begin in May. 8) Van Asche Drive: a. Project Summary: • Widening and alignment of Van Asche Drive, from Gregg Avenue to Garland Ave. (Hwy 112) • Project Budget: $4.56 million • Construction scheduled to begin in 3`d quarter 2014 upon issuance of third phase of bonds. b. Recent/upcoming actions • Acquisition of right of way and easements is underway. Offers of compensation have been mailed to all property owners. • Submittal to plans to AHTD for permitting will be made soon. 9) Rupple Road (6th St. to Persimmon) a. Project Summary • Extension of Rupple Road as a 4-lane boulevard from south of Owl Creek School to 6t" Street. • Total project budget: $10 million Telecommunications Device for the Deaf TDD14791521-1316 113 West Mountain-Fayetteville,AR 72701 THE CITY OF FAYETTEVILLE,ARKANSAS b. Recent Actions: • A meeting to review the conceptual alignment with affected property owners was held. There were no significant issues raised at the meeting. • Property research and field surveys are underway. • An agreement was executed with GTS for geotechnical services for soil borings and pavement design. • Internal review of the typical sections has been completed; initial review by the Street Committee will be at the April 30"' Committee meeting. c. Upcoming Activities • Approval of preliminary plans and typical sections by the Street Committee. 10)Maple and Lafayette Street Historic Bridges a. Project Summary/Status • Funding in the amount of$1 million through the Federal-aid bridge program administered by AHTD has been secured. The project is in the design consultant procurement phase. b. Recent Actions: • The contract with McClelland Consulting Engineers has been approved by all entities. • Kickoff meetings with the AHTD and with McClelland are being scheduled. c. Upcoming Activities: • Beginning of design work by McClelland after kickoff meetings. The following projects in the Bond Program will be designed, contracted, and administered by AHTD or its consultants/contractors. The schedules for these projects are established by AHTD based on their workloads and available funding. 11)Crossover Road (Hwy 265)-Mission to Joyce • Estimated construction cost was $15.4 million, City's share is 50% of cost,up to $7.7 million • AHTD letting date: September 2011; low bid received was $12,612,320.32. Change Orders to date reduce the contract amount by $257,000. • Work on the roadway is continuing by the contractor for AHTD. They are completing various tasks on the west side of the road, including storm drainage, roadway base, and retaining walls. Installation of curb and gutter is continuing, along with placement of additional asphalt on the new southbound lanes. Final completion of the project is expected in August or September. 12)Hwy 16 Improvements-Armstrong to Stonebridge Rd. • Construction Start: November 2012. Completion: Fall 2014. • Current agreement with AHTD for 50% of project costs to be paid by the City, up to $5 million. • Edwards Design and Construction is the contractor on the Water and Sewer Relocation Project. • Water and sewer installation is complete except for 1 segment of sewer line and a few service connections. • Sweetser Construction is the roadway construction contractor for the AHTD and began work in the Armstrong to Happy Hollow area as of December 2012 with an estimated completion date of mid-2014. 13)Garland Avenue (North to Melmar) • Total project cost originally estimated at $6.7 million Telecommunications Device for the Deaf TDD14791521-1316 113 West Mountain-Fayetteville,AR 72701 THE CITY OF FAYETTEVILLE,ARKANSAS • City Share originally estimated at$5.2 million, current estimate is $ 4.04 million • Utility relocations are complete on the project. • Sweetser Construction is the roadway construction contractor for the AHTD and began work as of February 2013 with an estimated completion date of Spring 2014. • Installation of fill material is continuing on the west side of the road near the south end of the project. Telecommunications Device for the Deaf TDD14791521-1316 113 West Mountain-Fayetteville,AR 72701 THE CITY OF FAYETTEVILLE,ARKANSAS Taywel evlleENGINEERINGOIVISION R7271 12SWestMnuntamFayetteville,AF 73701 A RKAN5A5 Phone (97914943443 STREET COMMITTEE MEMO TO: City of Fayetteville Street Committee CC: Mayor Jordan Don Marr, Chief of Staff Jeremy Pate, Development Services Director 'vi FROM: Chris Brown, City Engineer DATE: April 26, 2013 SUBJECT: Rupple Road-Review of Typical Cross Sections and Conceptual Plans As part of the Transportation Bond Program, Rupple Road is planned for improvement between Martin Luther King Blvd. and Mount Comfort Road. Three segments of Rupple are shown on the attached concept plans, along with a drawing showing all three segments together. Each segment has unique characteristics as noted in this memo; however, the general approach on this project is to provide two travel lanes in each direction, with a center median, turn lanes at major intersections, sidewalk on one side, and a multi-use trail on the other. Separate bike lanes are not planned for any of these segments, although bicycles who wish to use the roadway can be accommodated by the use of sharrow symbols in the outside lane. Additional detail of each segment follows. 1. Martin Luther King Jr. Blvd to Owl Creek School. This is an entirely new route that will extend Rupple to Martin Luther King Jr. Blvd. The median through this segment is 15 feet wide, greenspace between curbs and sidewalks is 10 feet wide, and a 5 foot sidewalk is proposed on the east side, with a 12 foot wide trail on the west. Median breaks are shown at two collectors planned on the Master Street Plan; final location and number of median breaks will be made based on additional input from property owners along the route. Total right of way width in this segment is 102 feet. Design of this segment will most likely be by a consultant selected by the City, although this has not been fully decided. 2. Persimmon St, to Wedington Drive. This segment consists of widening from 2 to 4 lanes, with a 9 foot wide median broken in various locations for existing streets, major driveways, and the fire station. The 12 foot wide trail continues on the west side; an existing 8 foot wide sidewalk on the west side will remain in place. Green space widths are adjusted in this segment to stay within the existing 90 foot right of way. On the north side of Wedington, the improvements will be extended to the existing median on Rupple. This will clean up and properly align the intersection at Wedington. This segment will be designed by City engineering staff. A roundabout is shown at the intersection with Persimmon; the roundabout will be compared to a signalized intersection, and a final decision made on the type of intersection that is ultimately constructed will be made after this analysis is complete. 3. Starry Night View to Rupple Road. This segment includes a major realignment to create a 4-way intersection with Rupple Road. A new bridge over Hamestring Creek is a large cost item on this project. Telecommunications Device for the Deaf TDD(479)521-1316 113 West Mountain-Fayetteville,AR 72701 THE CITY OF FAYETTEVILLE,ARKANSAS The cross section for this segment is the same as segment 1, with the exception of the bridge, which is narrowed to a 4 lane width for cost saving purposes. This segment will be funded partly with federal aid (STP-A) funding. Because of this fact, and the lack of a bridge engineer on staff, a consultant will be selected to design this project. These concepts are presented for review by the Committee. Prior to the next meeting, staff will contact property owners who have not been previously contacted to allow them the chance to comment on the conceptual designs. These comments will be presented at the May Street Committee meeting along with final staff recommendations. Telecommunications Device for the Deaf TDD14791521-1316 113 West Mountain-Fayetteville,AR 72701 9• a _ — — — — — _ — — — — — — — — — — — — _ F .._ • • • • • • • • • • • • • • • • • • • • • • • • s • • • • • • • • • •• • • • • • • • • • • / PROPOSED BRIDGE • • • • • s • • • • • • • • • • • • • • _ • • • • • • _ • • • • • • _ • • • • _ • • • Ir ; — Project Summary ®� — Extension of Rupple Road as a 4—lane boulevard from south of Owl Creek School to Martin Luther King Blvd. — Total project budget: $8.155 million s c�G s c&� s' c&� f1,5' Car — Construction scheduled for 2014. 12' 10' 1r 1r 1r 1r 10' s' TRAIL GREEN LANE LANE LANE LANE GREENSPACE SW SPACE 25' B.C. 15' 25' B.C. CENTER MEDIAN 69' 13. ®RUPPLE ROAD IMPROVEMENTS 102' RIGHT DE WAY MARTIN LUTHER KING BLVD. TO PERSIMMON ST. PRINCIPAL ARTERIAL PARKWAY CONCEPT PLAT rtrt •( 1 +III U - it Al -AV IR _IR JR of jr of m I if �I � �I � �i IT =,' �nF,�-"et>�=�'=f^Fi>.b ,..l:+F.�>,oi+;�eF3,.aixai�'nit>r.��'k�d'e�+: ,vi=F.i,c)E)x;E9'.�rJE fi%ice-�.i,c�:ci�". .ribr:�,k�%E.=:��,.:�,c�"Ei P:i'&c:�>�i��tiXF�>E�>•,..1�-,F�>.:E+m L1711;Vow J ' I i - ilL lllllllll . I r 1_ 'K= 1 ' I r'r'�v. � rr.�.-'b.r®w®wrsr®r • � n� � 1 � � V I �.-�.� I: y 1 �® F uric I��� - \ I V 11 e _ r'. l° x ..: u h 9�"rN.'�'^ ...FZS. _ate V. '.A.za,•pBvs .¢SkN... --�-"`` I x y 1 r. . it Q. ? 1 _n :;•� 7T,..'try!! .� y - I AAA ci r ]r vi 4 y„ ed •, II Ir1110 IM111111111 Project Future project to be constructed as funding allows. TRAIL GREEN LANE: LANE: LANE: LANE: GREENRIPACE SW SPACE 6S, 13C ® RUPPLE ROAD IMPROVEMENTS 102' PIFHT OF WAY STARRY NIGHT VIEW TO MT COMFORT ^_ - - lac I + �` •`-„�" .i. .�. � x 4f"'''F ♦ ` tl l 3 Az ' s," _ 1 ,5 �^yl'� �s` x x ,4�da`�7"• •II c+..�.: wy� r! - p > k - �7—T I Imo. e 34 � y�•,, x I v `£4 lmla ` • �.r'� id?�A " Ani" � I �l 9 4 .,• \\ *i;. ... � ;� -� �_ R • Iia _ _ _ _ ^ Y � •','tel! _ :.yj�Yi, _ s.cA ♦ .� J . . .• • • IMPROVEMENTS 74t • • • • • ' '• • 1 R��° ' •^ CONCEPT: C b aye evl a THE CITY OF FAYETT FNTCQ,ARKANSAS DEPARTMENT COHFESPONDENCE ARKAN5A5 CITY COUNCIL AGENDA MEMO To: Mayor Lioneld Jordan and City Council Thru: Don Marr, Chief of Staff Jeremy Pate, Development Services Director Chris Brown, City Engineer From: Peter Nierengarten, Sustainability& Strategic Planning Director Date: April 12,2013 Subject: Resolution of Intent for the Houses at Willow Bend PURPOSE The purpose of this resolution is to express intent to cost share with the Houses at Willow Bend Project in the amount of$1,000,000 for the construction of public infrastructure (steets, sidewalks, storm drainage, etc.) within and/or adjacent to the project. The City of Fayetteville's conribution to the public infrastructure would help lower the purchase price of the homes in an effort to better achieve the goal of provide homeownership opportunities for Fayetteville citizens making less than 80% of the median income. The City of Fayetteville's contribution to the public infrastructure would be subject to the project developers funding the remainder of the infrastructure construction cost, ensuring that Willow Bend be an owner occupied neighborhood and incorporating affordable resale of the homes into property deeds. BACKGROUND The Houses at Willow Bend is a 9.75 acre infill housing project in the Walker Park Neighborhood in south Fayetteville that aims to create a replicable model of sustainable and attainable housing. The project goal is to construct between 65—84 homes that will provide citizens making less than 80% of the median income the opportunity to become homeowners. The Houses at Willow Bend project has been developed through a partnership with the Fayetteville Housing Authority, the Fayetteville Partners for Better Housing, the City of Fayetteville, the National Center for Appropriate Technology, Community Resources Group, the Sustainable Cities Institute and the Home Depot Foundation. Throughout the project stakeholders have stressed the inclusion of all elements of sustainability, not only environmental, but economic and social elements as well. The master plan's infill location is surrounded by the existing traditional street grid near downtown Fayetteville. The neighborhood lacks quality affordable housing and was selected by stakeholders for its walkable location and associated transportation affordability, with its close proximity to major employers, retail centers, and the City's multi-use trail system. In addition, the existing tree canopy and storm water features on the site have provided an idyllic setting for demonstrating the integration of both ecology and placemaking principles into one. The master plan was informed by a recently adopted form based zoning code and parallel cottage court ordinance which together encourage a mix of unit THE CITY OF FAYETTEVILLE,ARKANSAS types and higher densities. The plan is also being used as a pilot project to facilitate the development of a proposed low-impact technical manual. The City of Fayetteville's adopted City Plan 2030 contains six overarching goals. Two of these goals include: 1) We will make appropriate infill and revitalization our highest priorities. 2) We will create attainable housing opportunities. The Houses at Willow Bend Project aligns very closely with both of these goals due to its location within the long-standing Walker Park Neighborhood and by virtue of the goal to provide homeownership opportunities for Fayetteville citizens making less than 80% of the median income. BUDGETIMPACT Public infrastructure costs for the project are estimated to be $1,997,000. Of that amount $1,366,500 is estimated for public infrastructure such as streets, sidewalks and storm drainage. A contribution of$1,000,000 towards the street, sidewalk and storm drainage infrastructure costs represents approximately a 75% cost share and would lower the purchase price of a home by approximately $12,000. This reduced purchase price will allow greater access to these homes by families making less than 80% of the area median income. The cost share would be in the form of a reimbursement to the project developer after the public infrastructure has been constructed and accepted by the City. The actual fund that the $1,000,000 cost share will come from will be identified at a later date. RESOLUTION NO. A RESOLUTION TO EXPRESS THE CITY COUNCIL'S INTENT TO INVEST ABOUT ONE MILLION DOLLARS TO COST SHARE THE CONSTRUCTION OF CITY INFRASTRUCTURE WITHIN THE HOUSES AT WILLOW BEND DEVELOPMENT WITH PROPER ASSURANCES THAT AFFORDABLE, OWNER OCCUPIED HOUSING WILL BE CONSTRUCTED AND PRESERVED IN THIS NEW NEIGHBORHOOD WHEREAS, the City Council has long supported the goal of fostering affordable and attainable housing for our citizens and included this goal in Fayetteville's 2020, 2025 and 2030 Long Range plans; and WHEREAS, the City Council can invest its funds to build its own infrastructure such as streets, sidewalks, water and sewer mains, and drainage structures and does so in established neighborhoods every year, but normally requires a subdivision developer to build all this infrastructure within a new development and dedicate it to the City of Fayetteville before the City assumes maintenance responsibilities for it; and WHEREAS, in order to make the housing within the Houses at Willow Bend development built by a nonprofit corporation more affordable and attainable for moderate income citizens of Fayetteville, the City Council intends to invest up to One Million Dollars ($1,000,000.00) as a cost share with the nonprofit developer to build city infrastructure if proper assurances and guarantees are in place to ensure such City investment will all inure to the benefit of the initial single family or duplex, owner occupied home buyers who must agree to restrictions upon the resale and use of their homes and duplexes to ensure that, after any resale of the home or duplex, the new owners/residents shall receive and retain the benefits of the City investment. NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby expresses its intent to invest up to One Million Dollars ($1,000,000.00) to cost share the construction of city infrastructure within the Houses at Willow Bend development with the nonprofit development corporation if proper safeguards, assurances and guarantees are in place to ensure that: (1) the benefits of this City investment will go only to the individual home and duplex buyers who shall occupy the purchased homes or at least one side of the duplex; (2) any profit such home and duplex buyers could receive when such houses or duplexes are resold in the future shall be limited so that the actual residents of Willow Bend will continue to enjoy the City investment for affordable and attainable housing; and (3) the requirement of owner occupied status for such housing shall be maintained for the number of years set by the City Council when the agreement for the investment is made with the nonprofit corporation. Section 2 : That the City Council of the City of Fayetteville, Arkansas hereby requests that the City Administration work with the City Attorney's Office to negotiate an agreement with the nonprofit corporation to achieve the goals set forth in this Resolution and then present such agreement to the City Council which could then authorize the One Million Dollar ($1,000,000.00) investment of City funds for this project. PASSED and APPROVED this 21 st day of May 2013. APPROVED: ATTEST: By: By: LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer Partners for Better Housing is a non-profit corporation created in 2007 for the specific purpose of constructing housing affordable to those individuals and families making 50-80% of the Area Median Income (AMI.) In order to accomplish this, the Partners board purchased in 2009 acreage in South Fayetteville in the Walker Park Neighborhood. This decision was due in large part to the need for housing identified in the excellent Walker Park Neighborhood Plan adopted by the City Council in early 2008. The city in 2010 was successful in securing a grant from the Home Depot Foundation The grant request to Home Depot identified the creation of affordable housing as a high city priority and included our property as a key focus within the grant request. The "Houses at Willow Bend" project is 9.8 acres in area and includes 78 dwelling units. The design of the Houses at Willow Bend neighborhood was funded by the Home Depot Sustainable Cities grant to the City of Fayetteville. The design of the project is complete and cost estimates have been done based upon recent bids from local contractors. The infrastructure costs for the project are estimated to be$1,997,482. Of that amount, $1,366,500 is for public infrastructure, such as streets, sidewalks, and stormwater drainage. The remaining$630,982 is for water and sewer lines and private infrastructure, such as parking courts, grading, stormwater detention, franchise utilities, and retaining walls. This part of Fayetteville has not seen much public investment in the recent past and could benefit from upgraded infrastructure. We are preparing to submit drawings and reports to the City of Fayetteville requesting preliminary and final plat approval from the Planning Commission and the City Council. It is important to remember that any time public monies are spent on infrastructure, it creates a benefit for the adjacent property owners. Partners for Better Housing feels that spending public monies for public infrastructure adjacent to the Willow Bend property would be an effective, immediate, and appropriate way for the City of Fayetteville to meet its goal as stated in City Plan 2030: "We will create opportunities for attainable housing." This is also an excellent opportunity to meet another of our major goals: "We will make appropriate infill and revitalization our highest priorities." The Partners for Better Housing board, at the suggestion of city staff, is asking the city council to assist in increasing the affordability of the housing by investing in the street portion of the project cost. The following three examples demonstrate how this assistance dramatically increases the affordability to low and moderate-income individuals and families: The Joplin Cottage. 768 sq ft 2 Bedroom, 1 bath With no City Cost Share: Sale Price of $104,290 — =- Affordable to a household with $27,657 annual income T a With 75% City Cost Share: Sale Price of$92,202 J M — Affordable to a household with $25,207 LEI — annual income h _ With 100% City Cost Share: Sale Price of$88,173 Affordable to a household with $24,390 annual income Page 1 The Siloam Cottage. 1100 sq ft 2 Bedroom, 2 bath With no City Cost Share: Sale Price of $136,660 Affordable to a household with $35,498 annual income With 75% City Cost Share: Sale Price of$124,572 Affordable to a household with $33,048 annual income With 100% City Cost Share: Sale Price of$120,542 Affordable to a household with 32,230 annual income The Spring House. 1308 sq ft 3 Bedroom, 2 bath With no City Cost Share: Sale Price of $148,887 Affordable to a household with $40,495 annual income With 75% City Cost Share: Sale Price of$133,120 Affordable to a household with $37,300 annual income With 100% City Cost Share: Sale Price of$127,864 Affordable to a household with $36,235 annual income Page 2 The principles of the Houses at Willow g. Bend came out of the Walker Park - Neighborhood Plan. Housing affordability is based upon mortgage MI expense, transportation cost, and energy costs to heat and cool the houses. The Houses at Willow Bend is designed to serve the needs of Low Income households as defined by HUD and as implemented by the Community Services Division's i Community Development Block Grant Program. The household income ranges area as follows:Area Median Income(AMI), Fiscal Year 2013: One Person Two Person Three Person Four Person Five Person 50%of AMI $19,850 $ 22,700 $25,500 $28,350 $30,650 80%of AMI $31,750 $36,300 $40,850 $45,350 $49,000 Return on Investment: Any time that an expenditure of public monies is contemplated, Return on Investment must be considered. In addition to the intangible benefits of adding to Fayetteville's housing stock of stable dignified energy efficient housing,there is the transportation benefit of locating housing on the multi-use trail network and close to major employment opportunities such as the University of Arkansas Campus,the Square,and the Industrial Park. Transportation dollars would be spent in a way that reduces the need for cross town travel, rather than encouraging it. The financial return on the investment would be as follows: If the City of Fayetteville dedicated$1,366,500 of bond monies to public infrastructure, it would allow the construction of 78 houses at an average cost of$125,000 each for a total of $9,750,000 in affordable housing. That is a return of seven dollars of affordable housing for every dollar of public money spent. The financial return would also ripple out to the school system,the county,the library,and the City of Fayetteville as follows: Projected Property Tax Receipts, 78 houses, average value of$125,000 each: $100,425 annually. Current property tax receipts for the property are$1,800 annually,for a net increase of$98,625 annually.Over a 25 year period,that would provide the following property tax revenue: Fayetteville Public Schools $ 1,997156 Washington County $ 246,562 Library $ 24,656 City of Fayetteville $ 197,250 In addition,the City of Fayetteville should expect to see increases in sales tax revenue as a certain number of households currently living the outlying areas of the region have the choice of moving into town. Page 3 FAYETTEVILLE CODE OF ORDINANCES TITLE III ADMINISTRATION (B) The Transportation Committee shall serve as an _- Deleted:Street ARTICLE XVI advisory board to the City Administration,and as ` CITY COUNCIL a public forum for transportation projects and issues that may arise, including, but not limited TRANSPORTATION COMMITTEE to; `Deleted:STREET 33.290 Composition (1) Proposed street sidewalk trail bikeway There is hereby established and continued a City and transit improvement plans for major Council Transportation Committee which shall be projects to be partially or fully funded by the _-rDeleted:Street composed of four aldermen,one from each ward who City. Said review will be at the preliminary shall be appointed annually by the Mayor, subject to stage,and will include typical cross sections City Council approval. The members shall elect a and preliminary horizontal and vertical Chair at its first annual meeting. alignments. Said projects will be at the discretion of the City Administration, but (Ord.5540,10-16-12) generally will include major widening or new location projects, or projects where major 33.291 Purpose, Duties and Powers changes to existing street cross sections are planned. (A) The Transportation Committee shall make --- Deleted:Street recommendations to the City Council on (2) Traffic Ca m�Policiesof the-CiTy—,inclu id ng transportation projects and issues that may arise, review of requests for traffic calming by including,but not limited to: citizens. (1) Changes, additions, or deletions to the (3) Any alderman may appeal any Master Street Plan. recommendation of the Transportation -- Deleted:Street Committee to the full City Council ` (2) Bids, Contracts, Contract Amendments, Change Orders, cost share proposals, and (C) The Transportation Committee may adopt rules _-- Deleted:Street other contractual items that require City to govern the conduct of its business. Said rules Council approval. shall be consistent with the provisions of the Arkansas Freedom of Information Act. (3) Requests for authority to begin eminent Ord.No.5540,10-16-12) domain actions, and offers of settlement for eminent domain cases related to transportation projects, except when timing 33.292-33.300 Reserved of settlement offers are such that Transportation Committee review is not (Code 1965,§§17B-11.2(a),(b),(d);Ord. No.2109,6-3-75; --- Deleted:Street feasible. Ord. No.2585, 12-4-79; Ord. No. 3153, 11-19-85;Ord. No. 3340,3-15-88;Ord.No.3587,§1, 1-7-92;Ord.No.4099,6- (4) Yearly Transportation Division paving, 16-98;Ord.No.4652,12-07-04;Ord.5041,7-17-07) overlay, sidewalk and trail/bikewav construction programs. (5) Funding priorities for proposed major transportation improvement projects and programs. (6)Street and alley closures and/or right of way ' —— Formatted:Bullets and Numbering vacations. (7) Funding requests made by transit providers. ' - `Formatted:Bullets and Numbering (8) Changes additions or deletions to the ' - Formatted:Bullets and Numbering Fayetteville Alternative Transportaion and Trails Map bikeway map and related funding priorities.