Ravaudage asking for $300k reimbursement from city
The mixed-use development is looking for a 50% reimbursement for improvements in newly annexed zones
Nov. 2, 2023
By Beth Kassab
The Ravaudage development on the corner of U.S. 17-92 and Lee Road is already entitled to as much as $1.2 million over 10 years in city reimbursements for road improvements and is now looking for an additional $300,000.
The new reimbursement, which will be up for consideration at next week’s City Commission meeting, is tied to improvements on sections of Lewis Drive and Bennett Avenue, which were annexed into the city in 2020 and so weren’t part of the original agreement with the developer.
Multimodal Transportation Impact Fees paid by businesses within Ravaudage is expected to raise more money than the reimbursement amount estimated at $301,327. Impact fees are paid by developers to cities or counties as part of the development approval process. The dollars are typically used to offset additional costs to local governments to be caused by the new homes or businesses such as police, fire, sewer or schools.
“It is anticipated that the planned fitness facility is likely to generate impact fees in excess of this amount,” stated a staff memo on the proposed agreement, apparently a reference to the newest type of development underway in Ravaudage.
The memo also stated that the agreement is the “final change” to the original 2017 agreement that specified up to $1.2 million in city reimbursements for road improvements at the development.