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Council approves amendment to Ford Coletta road-impact offset agreement covering Old South Brothers Road
Summary
The council approved Amendment No. 1 to State of Franklin contract 2017-02293, renaming the party to Ford Coletta LLC and revising the potential offset amount as the developer increases proposed unit count; the motion passed 4-0.
The Franklin City Council voted 4-0 to approve Amendment No. 1 to a road-impact offset agreement, updating the contracting party name to Ford Coletta LLC and revising the offset amount as the developer seeks to increase unit count for the Coletta Park subdivision.
City staff told the council the amendment changes the name on State of Franklin contract 2017-02293 from “Coletta Park Subdivision LLC” to “Ford Coletta LLC” and adjusts the amount the developer may offset for improvements on Old South Brothers Road as they increase their unit count. Staff recommended approval of the amendment.
Aldermen moved, seconded and approved the measure without discussion. The council recorded the vote as 4-0 in favor.
The contract amendment sets the revised potential offset at an amount not to exceed $1,659,193, as presented to the council. Staff did not record additional conditions or scheduling details in the meeting minutes; the amendment will be executed according to standard contract procedures.
