R2007-118 SCHEDULING PUBLIC HEARING

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� , ji ECONOMIC AND URBAN DEVELOPMENT MEMORANDUM ' Memo No. 07-81 June 27, 2007 ' TO: Honorable Mayor Paul Osborne and City Council '� FROM: Steve G ity Manager I��i Greg Crowe rector of Economic and Urban Developme� �,I SUBJECT: Receive&File Annexation Agreement—Primrose Retirement I SUMMARY RECOMMENDATION: Staff recommends that the attached annexation agreement be received and placed on file and scheduled for publication. The agreement is scheduled for final action at the August 6, 2007 City Council meeting. BACKGROUND: Primrose Retirement has requested City participation to extend sanitary sewer services to a proposed senior retirement community along Arbor Drive. The proposed development would include a 68-unit independent and assisted two story apartment building with e�cteaor garages, and 2� independent living villa units with attached garages providing housing for seniors. .All of the units are market rate. T'he cost of extending sazutary sewer to the subject property is very lugh due to the depth of the sewer mains. Costs to extend the sanitary sewer are expected to be $45,000. The City's responsibility to reimburse for project expenses is limited to actua.l incremental property taxes generated by the new development. The project is expected to generate appro�mately $40,000 annually in pmperty tax to the City of Decatur. The City will reimburse 100% of the City's incrementai property t� to pay for the cost of extending the sanitary sewer. Reimbursements to cover the costs should not take any longer than two years. INPUT FROM OTHER SOURCES: None POTENTIAL OBJECTION: The City Plan Commission will review the Planned Development prior to presentation to the City Council. STAFF REFERENCE: Any additional questions may be forwarded to Greg Crowe at 424-2727 or at �ccrowe(a�decaturnet.or�. BUDGET/TIME IlVIPLICATIONS: All reimbursements will be made based on incremental property ta�ces generated to the City of Decatur.