Tippecanoe County 79-8

Jurisdictions: Tippecanoe County, City of Lafayette

Topic: Infrastructure improvements

Date: 1994 March

Purpose: To facilitate the completion of an earlier interlocal agreement for infrastructure improvements (drainage facilities, roads, and a bridge), between the same parties, dated July 1987.

Function: Public works/transportation, Infrastructure development

Type: Collaboration

Organization: Joint agreement. No governing board. Joint supply: Each party will be responsible for designing and completing certain construction. City will finance project. County will give some land and lease other land to City.

Services delivered: County agrees to convey title to City of certain real estate to assist in the location of the Creasy-Brady Lane connector. County agrees to lease to City certain real estate to be used as the site of a detention pond. This lease will be for a term of 30 years at the rate of $ 1 per year, with a reversionary interest to the County in the event said area ceases to be used as a detention pond. (P. 2) Included with agreement is Exhibit A, containing a hand-drawn diagram of the project area and two "legal descriptions" (surveyor's measurements) of separate tracts of land from the diagram.

Financing: City agrees to the use of a TIF bond to finance the infrastructure improvements. Said bond proceeds are the first source of funds for payment of improvements. The drainage improvements may be done in phases due to the limitation of TIF funds, but these improvements will be paid for from the initial TIF bond proceeds or from the proceeds of a another bond. (Pp. 1-2) Any proceeds due from future development of storage for surface water shall be paid to a dedicated fund for the development and maintenance of the regional detention pond. (P. 4)

Administration: Parties agree as follows with regards to priorities: (1) First priority is the construction of a four lane road, being the Creasy-Brady Lane connector (exact location given); (2) Second priority is a regioinal detention pond, and outlet structure in support thereof, for the Wilson Branch of the Elliott Ditch. Pond should be constructed to 150 acre feet based upon Chris Burke's study. However, pond may be phased in where 75,000 cubic yards of fill, or the equivalent in acre feet, may be removed. City agrgees that whatever amount remains of the excavation to equal 150 acre feet will be removed within a 2 year period. Soil may be removed in increments of less than 150 acre feet, but said increments must be approved in writing by the County; (3) Third priority is the reimbursement of County for the four lane bridge and approaches built by County over the Elliott Ditch. County will be paid with any funds that remain from the original TIF bond after priorities (1) and (2) have been paid for. If original TIF funds have been exhausted, County will be reimbursed by City from a parity or junior TIF bond. Furthermore, City will have all future development within City limits, and within what is commonly known as the Wilson Branch Watershed area, designed to place their surface water in the regional detention pond. (Pp. 2-4)