HomeMy WebLinkAbout2005-1-6921341
ORDINANCE NO. 2005-1-6921
AN ORDINANCE APPROVING THE CONCEPT OF
EXPEDITED GROWTH THROUGH DEVELOPER AGREEMENTS, WHICH
PROMOTE RESIDENTIAL INFILL DEVELOPMENT
WHEREAS, The Board of Commissioners for the City of Paducah finds:
That the City of Paducah's economic well-being is related to and in many
respects dependent upon, sustained growth of its population and tax revenue base through
development of vacant properties.
That a Residential Development Agreement will help maintain growth through
infill development, which encourages a healthy economy.
That a Residential Development Agreement will encourage infill residential
development, which will increase the population base of the City of Paducah, therefore
increasing the possibilities of becoming a designated urbanized area.
That a Residential Development Agreement will encourage development of
single-family owner -occupied housing on vacant, orphaned, or underutilized land located
in the mature portions of Paducah where infrastructure and services are in place.
That a Residential Development Agreement will encourage infill development
that may have been underutilized or blighted, helping to catalyze revitalization.
That a Residential Development Agreement will promote the health of the
existing public school system by increased residential development within the existing City
of Paducah School System.
That infill residential development will increase the revenue tax base necessary
to meet various capital needs, especially in the area of public safety, maintain infrastructure
and facilities, and will aid in the maintenance of existing infrastructure and facilities.
WHEREAS, it is the intent of the Board of Commissioners to enact an
ordinance providing for Residential Development Agreements between the City of
�G
Paducah and potential developers.
342
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF PADUCAH,
KENTUCKY, AS FOLLOWS:
SECTION 1. The purpose of this ordinance is to encourage residential
development within the city limits of Paducah by providing the developer reimbursement
monies to offset the infrastructure costs born by the developer based upon certain terms
and conditions. The reimbursement of monies shall be defined in a Residential
Development Memorandum of Agreement to be executed between the Developer and the
City Commission, which Memorandum of Agreement shall contain such terms and
conditions as agreed to between the parties. A Memorandum of Agreement shall only be
possible when the developer proposes constructing municipal services to be dedicated to
the City of Paducah, which shall be streets, sidewalks, gutters, storm sewers, and a storm
water conveyance system. A Memorandum of Agreement shall only be possible when these
municipal services constructed by the developer will exceed one hundred thousand dollars
($100,000). Each Memorandum of Agreement shall become effective upon City
Commission's approval by ordinance. This ordinance shall not be construed to mean the
City Commission is obligated to enter into such Memorandum of Agreement with any
Developer.
SECTION 2. This ordinance shall be read on two separate days and will
become effective upon summary publication
ATTEST:
Tammara S. Brock, City Clerk
Chapter 424.
William Paxfon, Mayor
Introduced by the Board of Commissioners, January 11, 2005
Adopted by the Board of Commissioners, January 24, 2005
Recorded by Tammara S. Brock, City Clerk, January 24, 2005
Published by The Paducah Sun, January 29, 2005
\ord\plan\agree-residential development