Agenda - 03-26-2015 - Agenda - Laserfiche WebLink

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Attachment 4 -a FROM: Kenneth C. Pennoyer, Business Management Director Dwight Bassett, Economic Development Officer SUBJECT: Ephesus Fordham Renewal Information DATE: March 19, 2015 11 Summary The Town is proposing that the County partner with the Town in the Ephesus Fordham Renewal Project by pledging support for the project and considering, on an annual basis, financial participation based on the performance of the project in meeting mutually agreed upon goals. Project Description The Town has made a commitment to the renewal of the Ephesus Fordham project area and has begun a process of renewal that addresses many issues and interests, including: • Stormwater o The Town is in the process of planning $1.2 million of Town financed stormwater improvements designed to mitigate longstanding stormwater issues the area. o The Town Council has created a Stormwater municipal service district to fund ongoing costs of stormwater management in and around the district. • Roadway Improvements o The Town is in the process of planning $8.8 million of Town financed and much needed roadway improvements to be completed in 4 phases to correct existing transportation problems, expand connectivity and minimize impact on future traffic conditions. • Affordable Housing o The Town Council established a public - private partnership and donated 8.5 acres of land for an affordable housing complex within the Ephesus Fordham project area. • Energy Efficiency o The Town is working on a pilot rebate program that incentivizes developers to maximize the energy and water efficiency of new buildings. • Transportation o This project addresses transportation connectivity and congestion issues that, according to the Town's most recent Community Survey, represents the area that should receive the most emphasis over the next two years. • Rezoning