Horizon West Global
Road Agreement
September 20, 2011
Presentation Outline
 Horizon West Background
 Global Road Agreement/Term Sheet
 Action Requested
Horizon West Background
Approved Villages
 Lakeside Village (1997)
 Village of Bridgewater (1999)
 Town Center (2004)
 Village H (2006)
 Village F (2006)
 Village I (2010)
Horizon West Background
“Global Agreement”
Negotiations initiated in 2008
to develop infrastructure
implementation plan for:
 Town Center East
 Village H
 Village F
Horizon West Background
Agreement Principles
 Roads identified as
Public/Private Projects
 Ensure that new development
will equitably share in costs of
specific road improvements
 Road network for each village in
place at build-out
Horizon West Background
Agreement Parameters
 Establish interconnected road network
 Privately built/funded infrastructure in
exchange for impact fee credits and
transportation concurrency vesting
 Mechanism to ensure that roads are in
place as development occurs
Global Road Agreement /
Term Sheet
Road Network
Village F
 Seidel Road
Village H
 CR 545 (Avalon Road)
Town Center East
 New Independence Parkway
 Porter Road
 Horizon Boulevard
Village Road
Responsibilities
Village Road
Responsibilities
Village F
Seidel Road
from high school site to
Summerlake Park Blvd
Village Road
Responsibilities
Village H
CR 545
from Loop Road to Schofield
Road
Village Road
Responsibilities
Town Center East
New Independence
Pkwy
from SR 429 to Tiny Road
Porter Road
from south of Horizon Blvd to
New Independence Parkway
Horizon Boulevard
from CR 545 to North Porter
Road
Global Road Agreement /
Term Sheet
Developer Responsibilities
 Responsible for all phases
• Design and permitting
• Right-of-way
• Construction
 Will receive impact fee credits for
95% of expenditures
 Right of Way to be capped at $22.5k
per acre
 Impact fee credits capped at 60% of
average County costs
 Limited ability to sell credits
Global Road Agreement /
Term Sheet
Developer Responsibilities
 Concurrency vesting limited to
specific number of trips by Village
 Thresholds for improvements
 12.5% - Preliminary Engineering
 25.0% - Design and Right of Way
 45.0% - Construction for
Phase 1 Improvements
 75.0% - Construction for
Phase 2 Improvements
Global Road Agreement /
Term Sheet
Impact Fee Revenue & Improvement
Costs Comparison
Road Impact Fee
Revenues (1)
Total Road
Improvement Costs (2)
Village F
$15.0M
$17.6M
Village H
$23.3M
$18.2M
Town Center
East
$19.8M
$19.8M
Total
$58.1M
$55.6M
(1) Does not reflect 25% reduction in rate schedule adopted in May 2011
(2) Improvement costs reflect approx. 60% of County’s costs
Global Road Agreement
Potential Benefits
 Encourages economic development activity in
master planned community designated for intensive
use
 Expedites job creation within the Town Center by
creating a functional road network
 Enhanced connectivity to SR 429 by
providing for better traffic distribution
 Provides framework for future
public/private agreements
Global Road Agreement
Potential Concerns
 Future transportation needs not fully addressed
 Approach effectively pipelines a significant amount
of impact fees (approx. $53M in credits)
 Credits for excess capacity and system travel
 Will need to amend Impact Fee
ordinance
Global Road Agreement
Impact Fee Ordinance
 O.C. Code Section 23-95(a) limits impact fee credits
to “excess capacity” created
 Ordinance amendment to allow the BCC to approve
a different credit calculation or methodology for
significant transportation facilities or systems
necessary to provide mobility for development or
redevelopment.
Global Road Agreement
Status
 Draft Term Sheet is complete
 Pending BCC approvals, will
proceed with negotiating
individual village road agreements
 Town Center East road agreement
being drafted
 Draft language for Impact Fee
ordinance revision
Action Requested
Board direction on proceeding with the
negotiation of a final agreement based on the
Horizon West Global Road Term Sheet.