Title
Presentation: Lee's Summit Senior Living Facility - Conceptual Economic Development Incentive Request, O'Reilly Development LLC, Applicant
Body
Issue/Request:
Presentation: Lee's Summit Senior Living Facility - Conceptual Economic Development Incentive Request, O'Reilly Development LLC, Applicant
Key Issues:
In accordance with City's adopted Economic Development Incentive Policy, O'Reilly Development, LLC will present a conceptual incentive request for a proposed development of a 12 acre continuum of care senior living community consisting of memory care, assisted living, and independent living units. The proposed site is located at the SE quadrant of SE Ranson Rd. and SE Oldham Parkway which is currently zoned CP-2. The Preliminary Development Plan (PDP) and Special Use Permit (SUP) are scheduled for public hearing at the April 2, 2019 City Council meeting along with this conceptual economic development incentive request. The proposed development is within the US 50 Hwy. targeted planning area.
In order to develop the proposed site, offsite improvements will be necessary for sanitary sewer, water, and transportation infrastructure which is estimated by the developer to be $1,775,825.00 broken out as follows:
* Installation of water main from site to Ranson Rd: $254,825.00
* Sewer agreement with City (scope limited to the Project): $321,000.00
* Extension of Princeton Drive, a public roadway: $150,000.00
* Construction of public sewer improvements (outside the scope of the project): $1,050,000.00
In order to help mitigate offsite public infrastructure costs, the applicant requests consideration of a Chapter 100 sales tax exemption on building construction materials. The applicant estimates the proposed cost savings to the project would be $705,000.00 based on a cost for building construction materials in the amount of $27,458,142.00.
The developer and operator anticipates the project will create approximately 65 new jobs with an average h...
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