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Item 4C MemoItem 4C Page 1 of 3 M E M O R A N D U M (November 5, 2019) To: Shana Yelverton, City Manager From: Rob Cohen, Director of Public Works Subject: Approve a Commercial Developer Agreement (CDA) with Office Equity Solutions for the Nolen Office Park Addition development in an amount not to exceed $231,000. Action Requested: Approve a Commercial Developer Agreement (CDA) with Office Equity Solutions for the Nolen Office Park Addition development in an amount not to exceed $231,000. Background Information: The proposed Nolen Office Park development’s site requires Village Center Drive to be constructed to minimum fire lane specifications and width to allow for fire truck maneuverability. As part of the 2030 Master Thoroughfare Plan, Village Center Drive is identified as project MT 17, priority Tier 3. The Developer has proposed to build the full section of approximately 450 linear feet of Village Center Drive with City participation on the construction costs. During ZA-0062 entitlement process, City Council requested staff to investigate possible extension of Village Center Drive to the tract’s west boundary, which is roughly an additional 100 linear feet, totaling approximately 550 linear feet of Village Center Drive. The Developer plans to construct approximately 550 linear feet of the full section of Village Center Drive, to include water line, storm sewer line, and sidewalks on the north side of the road as shown on Attachment A. These public improvements will be constructed within the City’s dedicated Right of Way. Item 4C Page 2 of 3 T h e D e The Developer has requested an amount not to exceed $231,000 in reimbursement of construction expenses for Village Center Drive. The proposed reimbursement to the Developer would facilitate the extension of Village Center Drive, which has been identified as a future Collector Classified Street in the City’s 2030 Master Thoroughfare Plan. Financial Considerations: Funding for the CDA for the Nolen Office Park Addition development is provided in the General Fund of the FY 2020 budget as part of the Capital Improvement Program. Strategic Link: This item links to the City’s Strategy Map strategic focus areas of Quality Development and Partnerships & Volunteerism. It specifically relates to the City’s Corporate Objectives, C4: Attract & Keep Top-Tier Businesses to Drive a Dynamic & Sustainable Economic Environment, and B2: Collaborate With Select Partners to Implement Service Solutions. The Critical Business Outcomes are, CBO3: Engage in Thoughtful Planning to Ensure Continued High Quality Development That is Integrated Well Into The Current Built Environment, and CBO5: Improve Quality Of Life Through Progressive Implementation Of Southlake’s Comprehensive Plan Recommendations. Citizen Input/ Board Review: None. Legal Review: The proposed agreement is a standard agreement that the City Attorney has reviewed and approved. Alternatives: The City Council may approve or deny the agreement. Public Improvements Estimated Construction Cost City Participation Request 450 LF of Village Center Dr. $ 290,000 $ 168,000 100 LF of Village Center Dr. $ 63,000 $ 63,000 Total $ 353,000 $ 231,000 Item 4C Page 3 of 3 Staff Recommendation: Approve a Commercial Developer Agreement (CDA) with Office Equity Solutions for the Nolen Office Park Addition development in an amount not to exceed $231,000. Supporting Documents: Attachment A: Commercial Developer Agreement Attachment B: Location Map Staff Contact: Rob Cohen, Director of Public Works Kyle D. Hogue, P.E., Deputy Director/City Engineer Kevin Ferrer, P.E., CFM, Civil Engineer Lo c a t i o n M a p F u t u r e   E x t e n s i o n Proposed  Development N   K i m b a l l   A v e N o l e n   D r