Title
Innovation District Infrastructure Improvement Area Update (B)
**This informational item was presented to the UAB on 6-14-17.**
Explanation
On April 7, 2016, the City Commission adopted Ordinance 110541 creating the Innovation District (I-District) Infrastructure Improvement Area (IIA) for constructing and funding water and wastewater system capacity improvements within the designated areas. The costs for these improvements are being recovered through the I-District IIA Area user fees which apply to new development and certain redevelopment within the designated I-District IIA Area completed on or after the April 7, 2016 effective date of the ordinance. The ordinance was amended on March 16, 2017 to include updated IIA fees.
In conjunction with the IIA ordinance, annual review procedures were established to evaluate revenues and expenditures. Staff will provide a brief status update on the IIA in accordance with these procedures.
Fiscal Note
IIA improvement costs are included in the approved FY2017 GRU capital budget.
Recommendation
The City Commission hear an update on the Innovation District Infrastructure Improvement Area (IIA).