North Myrtle Beach, SC – August 3, 2016 – During a special called August 3 meeting, the North Myrtle Beach City Council passed first reading of an ordinance to approve “the first amendment to the amended and restated development agreement regarding the Robber’s Roost Planned Development District (PDD).” The meeting was preceded by the second Public Hearing on the same ordinance.
The primary purpose of the proposed amendment to the development agreement is to clarify the responsibilities of the various parties to the agreement regarding the cost of improvements to 11th Avenue North and Sea Hope Way.
Per the development agreement, the commercial developer for phase 3A of the PDD, which is the undeveloped section parallel to Highway 17 and located between the bank and the area where Sea Hope Way currently extends from the Coastal North Shopping Center, will be responsible for the construction of this section of Sea Hope Way.
The development agreement also states that, if the commercial developer has not completed the construction of Sea Hope Way from 11th Avenue North to the area off of Sea Hope Way where the residential section of the PDD will be constructed (Phase 4C), then the residential developer will be responsible for completing this section of Sea Hope Way.
When it comes to the cost of roadway improvements to 11th Avenue North, the residential developer will contribute $350,000. The bank located at the corner of 11th Avenue North and Highway 17 was originally to have contributed $40,000 but previously installed roadway improvements in excess of $40,000, and will not be required to make any additional contributions to the cost of the improvements to 11th Avenue North. The city will be responsible for the cost of the roadway improvements in excess of the mentioned contributions.
The development agreement also provides for the schedule of when the remaining balance of $201,666.66 of the $500,000 for the utilities relocation fund will be due. The commercial developer will pay the city $100,833.33 prior to the issuance of a building permit for phase 3A of the development and the residential developer shall pay a total of $100,833.33 as follows:
$33,611.11 shall be paid prior to the issuance of a building permit for phase 4A;
$33,611.11 shall be paid prior to the issuance of a building permit for phase 4C; and
$33,611.11 shall be paid prior to the issuance of a building permit for phase 4E.
The development agreement also contains a formula to apportion the cost of an upgrade to the existing pump station based on Equivalent Residential Units (ERU), which will be shared on a percentage basis between the city, the residential developer and the commercial developer. The pump station upgrade will occur in the facility’s current location on city-owned property.
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