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DESCRIPTION AND CONDITIONS Lone Cabbage Trading Company is developing the Welton Convenience Store located at the NW corner. of 53rd Street and US 1. The developer is required to construct a southbound right turn lane along US 1 north of the project driveway at a cost of $47,461. The County has requested that the developer extend the turnllane south to serve 53rd Street, a County road. The cost to the County is $30,000 and the Developer's cost is $17,005. The attached Developer's Agreement is prepared to provide for this cost share. Since 53rd Street is an unpaved County maintained road to which the convenience store will connect, the developer and County have a mutual interest in paving 53rd Street between US 1 and Old Dixie Highway. 53rd Street is projected in the future to extend west to 58th Avenue in the next five years. By the attached developer's agreement, the developer is willing to fund 25% of the cost (.$10,279.50) since 53rd Street is an arterial road, and'the County is being requested to fund 75% of the cost ($30,838.50). The 25% developer cost would be the same as the developer's share if the special assessment petition paving program were applicable. Engineering costs for both projects above would be $8,895.18. The County would pay $5,000 and developer $3,895.18. ALTERNATIVES AND ANALYSIS The staff has prepared and negotiated the attached developer's agreement which provides for the County funding a total of $65,838.50 and the developer funding $78,640.68 for all US 1 turn lanes and 53rd Street improvements. The alternatives are as follows: Alternative # 1 Approve the attached Developer's Agreement. Alternative No. 2 Deny approval of the attached Developer's Agreement and renegotiate. RECOMMMATIONS AND FUNDING Staff recommends Alternative No. 1 whereby th attached Developer's Agreement is approved. Funding to be fromlDistrict 4 Traffic Impact Fees (Fund 101-154-541-067.42). ATTACHMENT Developer's Agreement APRIL 27, 1999 27 BOOK J'U PAGE-u�