After a rather subdued discussion the Council, by a 5 to 4 vote, adopted a revised Tax Reimbursement District to facilitate the funding of an estimated $9.3 million dollar road extension and bridge construction project in the area of Creekside Golf Course.
On January 22nd the Council adopted a district which included the golf course and property to the west and south. In the district as the property develops each lot, including any lots in the golf course if it were subdivided, will be charged fees depending on their location to help pay for extensions of Lone Oak Road and a bridge over Jory Creek.
The neighborhood association objected to the original decision and the district was called back for reconsideration on March 26th. After some heated testimony from property owners the Council ended the hearing and set deliberations on May 14th. During its deliberations the Council removed certain areas from the district including the south eastern portion which derived the least benefit from the improvements. Fees on individual lots, payable at the time of development, vary from approximately $9800 to $4900. System Development Charges will be used to pay for that portion of the improvements not covered by the tax proceeds.
Staff reports indicate that the south portion of the Lone Oak Road extension, estimated to cost approximately $1.8 million, may well be complete in the near future. The bridge and north portion of the road, costing an estimated $7.5 million, will most likely not be done for a number of years.