Laserfiche WebLink
(2) Staff Feedback <br /> A. YOLITE STREET CONNECTION, Background: <br /> o Development of this site could trigger the construction of a 275' public roadway connection <br /> (known as Yolite Street)--which would connect Sunwood Drive with Veterans Drive. Yolite <br /> Street is the only potential public mid-block connection between Zeolite and Sapphire Street in <br /> The COR(which are a half mile apart). Requiring the construction of Yolite Street is a policy <br /> question for the City to answer—and is very important to this proposed development. Direction <br /> is needed in order to move this project forward on this particular site. <br /> r � � <br /> Remnant Lot <br /> 3,acres <br /> ■ <br /> y`' 4 <br /> _ y `� e <br /> Stone Brook <br /> o Stone Brook Academy is proposing to pay for 20%of costs related to Yolite Street(if the City <br /> requires this road). Stone Brook would like to use the City's previously utilized cost share <br /> arrangement on public roads located in commercial areas in The COR--which is a 60/40 split(60% <br /> City,40%developer). Stone Brook is proposing to pay 20%,as they are only utilizing one side of <br /> the road. They are proposing the user on the other side of Yolite Street pay for the <br /> remaining share of the 40%developer portion (i.e.20%). <br /> o If the City does require the construction of Yolite,staff's proposed funding source is TIF District <br /> #1(an old TIF district with an available balance)--which is also the proposed funding source for <br /> Zeolite Street(in The COR). The City could also consider other funding sources(land proceeds, <br /> EDA dollars,County dollars,TIF 14 dollars,etc.). This item (source of city funding)can be <br /> discussed in further detail, if the construction of Yolite is required by the City. <br /> Feasibility Report <br /> o WSB completed a feasibility report to help the City understand the cost implications of the <br /> potential Yolite Street connection. The WSB feasibility analysis was very conservative,at <br /> $394,000. The WSB feasibility analysis was intended to be a starting point—and to include ALL <br /> potential costs. <br /> o The City's Engineering team reviewed the WSB feasibility analysis,and was able to reduce the <br /> estimated project costs to$284,880. The City's Engineering Department feels another$10,000- <br /> Page 5 of 16 <br />