R2022-91 Resolution Authorizing Redevelopment Agreement wiht Bob Brady

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DATE: June 20, 2022 TO: Mayor Julie Moore Wolfe & Decatur City Council Members FROM: Scot Wrighton, City Manager Jon Kindseth, Deputy City Manager RE: Redevelopment Agreement with Bob Brady The City of Decatur has not had sufficient construction of new single family homes over the past 25 years. The vast majority of all newly constructed residential homes built in Macon County since 2000 have been on our borders, in Forsyth, Mount Zion, or Long Creek. This has led to a lack of contemporary modern housing that today's home buyers want. For this reason, many transplants to Macon County typically end up buying homes in our suburbs as opposed to Decatur. This agreement with Bob Brady will incentivize the construction of 2 new homes in Decatur by offsetting the expense of providing water infrastructure. The City has also been pursuing annexation in this same area to straighten out our municipal boundaries and ensure equity for those properties that City of Decatur provides services to. This redevelopment agreement provided for annexation of a final piece of the South Side Country Club golf course into the City of Decatur. This agreement serves to provide reimbursement of a portion of the expense to run a new watermain to the proposed sites of the new two lot subdivision for Brady. The infrastructure costs to run a new watermain to the proposed site are anticipated to be in excess of$125,000 for which the City will reimburse Brady up to $75,000. Attached you will find a visual representation of the proposed new watermain and the area served by this new infrastructure. The agreement is structured to provide for 50% of the allowable reimbursement upon completion of each of the houses, thus incentivizing the development of two houses and notjust one. Additionally, please note that this reimbursement is being provided not only for the two new proposed houses, but also for the benefit that this new infrastructure will provide for the four other existing homes that are located off Hulett that are highlighted in the attach map. Further yet, not only will this new watermain provide access for six homes, it also provides better fire suppression for the entire Hulett neighborhood.