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RESOLUTION R-1718-15: A RESOLUTION OF THE COUNCIL OF THE CITY OF NORMAN, OKLAHOMA, APPROPRIATING $296,105.10 FROM THE DONATION/ORGANIZATION REVENUE ACCOUNT TO USE DEFERRAL FUNDS FROM NRH FOUNDATION, CAMPUS CREST AND PARK 7 GROUP FOR THE 12TH AVENUE S.E. WIDENING PROJECT FROM CEDAR LANE ROAD TO STATE HIGHWAY 9.
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BACKGROUND: Under City of Norman development regulations, those platting property for the first time are required to install public improvements that include water, storm sewer, sanitary sewer, and roadway improvements that are made necessary due to the proposed development. Because not all adjoining property owners develop their parcels at the same time, the City's development regulations make provision for having road improvement costs paid over to the City at the time of platting to be held until a more comprehensive road project can be accomplished. This approach avoids gaps in the roadway that might occur if one developer of a parcel made roadway improvements associated with their development and an adjoining property owner has no immediate plans to develop their parcel. The 12th Ave SE roadway south of State Highway 9 is a good example of how these City Code provisions are applied.
On August 14, 2007, City Council approved amending the program of improvements of the NRH Foundation Addition Section 1 plat, which is approximately 600 feet south of State Highway 9 on the east side of 12th Avenue SE. As a part of the approval, the developer elected to pay deferral funds for the improvement of 12th Avenue SE in the amount of $78,336.00 into a certificate of deposit with MidFirst Bank.
On May 8, 2012, City Council approved the final plat of Campus Crest, which is approximately 800 feet south of State Highway 9 on the east side of 12th Avenue SE. As a part of the approval, the developer elected to pay deferral funds for the improvement of 12th Avenue SE in the amount of $90,132.60. Upon receipt, this payment was deposited into Accou...
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