Minyards Freeport Xing-CS070802
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Rhonda Adloo - Minyards site
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Ken Griffin
Clay Phillips; Mindi Hurley
8/2/2007 12:14 PM
Minyards site
Rhonda Adloo
Clay
I've done some research and have the following information:
1) In 1988, the city entered into an agreement with Minyards. Basically the agreement set out costs that the
city and Minyards would pay for drainage improvements. Once that cost was determined, the agreement states
that the city would establish a process for Minyards cost to be used to offset development cost on future
expansions. The term used in the agreement was a "setoff" (I probably would have called it an offset, oh well)
and it was dollar for dollar credit against future fees. The amount was somewhere between $300,000 and
$350,000. We provided a $109,000 +/- setoff against their fees in 1996 when they did some expansion. The
agreement states"... right of setoff shall terminate on October 1, 1998, as to any right of setoff not used before
such date." Based on that wording, the setoff has expired and there is no bank of money left to offset fees.
2) We acquired 3256 sq. ft. of right of way, 1745 sq. ft. of drainage easement and 13780 sq. ft. of temporary
construction easement from Minyards in 2004. We paid $15,147.50 for those items, therefore there is no credit
that can be used as a "bank" to offset future fees.
3) I run a preliminary cost for roadway impact fees based on four new buildings with a combined square
footage of 489,250. The roadway impact fee will be $237,041.
Hopefully this information helps.
ken g
file:/ /C: \Documents and Settings\rbrother\Local Settings\ Temp \XPgrpwise\46B 1 CA93 City... 8/31/2007