HomeMy WebLinkAboutA023 - Staff Report regarding Developers' Request for Housing IncentivesTo:Mayor and City Council
From:City Clerk's Office
Date:December 16, 2025
Subject:Developer Incentive Requests
Item No. 27
MEMO
Please see attached staff report and supplemental materials regarding the
Developer Incentive Requests. The roundabout option staff report is a separate
new attachment.
ATTACHMENT(S):
Incentives Staff Report Dec 9th.pdf
Development Project Overviews.pdf
Development Project Options.pdf
Other Pioneer Projects.pdf
GW Carver Avenue Cameron School Road Roundabout Staff Report
City Clerk's Office 515.239.5105 main
515.239.5142 fax
515 Clark Ave. P.O. Box 811
Ames, IA 50010
www.CityofAmes.org
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Staff Report
DEVELOPER HOUSING INCENTIVE REQUESTS
December 9, 2025
BACKGROUND:
City Council reviewed a staff report at its May 27 meeting that described the original
developer requests totaling approximately $10 million dollars and policy questions
pertaining to priority types of development, priority for near term development, and
maximum amounts of financial assistance. Council requested staff provide more
information and took no specific action related to the requests.
Staff met with development representatives during the summer to address City Council’s
My 27th comments and questions about the projects. Staff provided an updated report on
September 9th that provided more details about the project and financial estimates for the
incentives.
At the September 9th meeting, staff addressed information pertaining to:
• Developer responses to Council questions,
• categorization of pioneer and oversizing infrastructure,
• cost projections for three years and in total
• projected housing production over the next 3 years, by project,
• cost implications to City funds in the context of the original developer requests,
• a comparison of approaches from Waukee and Ankeny, and
• policy questions to guide the prioritization of incentives and options regarding total
amount of incentives.
City Council reviewed staff’s information and heard from Justin Dodge about the need for
incentives and about the limitations on housing production in Ames, even with incentives.
Ultimately, City Council directed staff to formulate a package of options to help
address the total cost of incentives and the timing of financial impacts to the City.
City Council indicated that any combination of funding sources, including TIF could be
considered.
PROJECT SUMMARIES:
Attached to the report is a project location map and identification of the specific original
requests for each project. The following is a summary of each project and their total
financial request. The descriptions have been updated, as appropriate since the
September meeting.
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Hayden's Preserve
This development is a 170-acre site with Master Plan approval for up to 620 units. The
developer intends to propose increasing the total units of this site to approximately 660
units with a split of approximately 550 single family and 110 multi -family, along with 5.5
acres of commercial. The single family is a combination of townhomes and detached
single family. The developer was focused on a large first phase development concept
that could include 50 detached lots, 176 townhomes, and 110 apartment dwellin gs.
The developer had put the site up for auction in September. The property did not sell at
auction and is under control of same developer. They have indicated an interest to staff
to continue with their incentive request and an updated master plan for the site.
The developer's total ask is estimated at $3.5 million to $4.7 million, depending on
rural water territory buyout calculations. The developer indicates that this level of
financial support is needed to make development of the site competitive with sites
they are developing in other communities.
Auburn Trail
This development is 70 acres on the west side of Hyde with a master plan approval for
181 single family dwellings. The developer intends to increase density to approximately
200 units. Details regarding the first phase of development are unknown at this ti me.
The developer's total direct ask was estimated in September at $486,000, depending on
rural water territory buyout calculations.
Since May, Staff has reviewed a revised layout for the site the developer believes
improves the financial viability of the site. The developer noted in their recent response
to staff that based upon their recent subdivision layout updates, with a reduced
Xenia buyout cost to at least $4,000 per acre, that the assistance represented in
Option 2 of approximately $365,000 would be sufficient to proceed with the project.
Greenbriar
This development is a 150-acre site that was recently annexed into the city. The City
Council has directed staff to address infrastructure improvements related to sewer, roads,
and open space with a development agreement at the time of rezoning. The applicant
has not yet applied for rezoning with a master plan for this site.
Based upon the Ames Plan 2040 designations, the development will include commercial,
multi-family, and single family attached and detached homes. Staff estimates the plan
may include 450+ dwelling units, split between 250 multi-family units and 200 single family
units, plus 5-8 acres of commercial land. The developer has recently submitted a
request for City Council to consider a Comprehensive Plan amendment to modify
the location of commercial development from the middle of the site to the corner
of Cameron and GW Carver.
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Development of the site requires extension of an east/west sewer from Hyde Avenue that
is related to the Hayden's Preserve project timing. The overall timing of Greenbriar and
the sewer extension is unknown.
The developers have indicated that a first phase of single-family homes could be
started next year without the Hyde trunk line extension if a "slip lining" project for
an existing sewer segment in Moore Memorial Park is completed independent of
the Hyde sewer extension. Staff estimates the slip line project would cost $250,000 and
could increase the capacity of this existing line to serve the southwest quadrant of the
site, which may yield capacity for 100+ single family housing units.
The developer's total direct ask is estimated at $4.1 million, plus additional park
development costs that are not yet estimated. Additionally, the developer believes
that even with the requested infrastructure assistance that the project is not
financially feasible without an opportunity to generate a 20% return on investment
of the land development. Therefore, they claim that a TIF rebate may also be
required to develop the project with a reasonable return on investment.
Bluffs at Dankbar Farms Corner Outlot
This site is 20 acres in size and has been recently approved for rezoning of 6 acres of
commercial and 14 acres for a Senior/Assisted Living facility.
The current development agreement for this site requires turn lane improvements on
Cameron School Road and G.W. Carver Avenue at the developer’s cost.
The developer's direct ask is estimated at $1.2 million to complete turn lanes along
Cameron School Road and GW Carver Avenue. Because of the existing
development agreements, the developer is required to make these improvements
with the next Bluffs plat and development of the corner site, which is anticipated
to be within the upcoming year. The developer indicates that the City assistance
would facilitate a quicker rate of development for their corner project and
potentially the Bluffs townhomes to the west. It should be noted that the $1.2
million request is not directly related to the construction of housing of townhomes
to the west of the corner commercial site.
Domani I
The project has an approved Planned Residence District (PRD) plan that is partially built
out. The extension of Cottonwood is triggered with the next phase of development. The
current development agreement requires the extension at the expense of the
developer. The remaining two phases include 11 additional Domani lots and 12 custom
home lots for a total of 23 lots.
The developer's initial ask is estimated at $371,000 for the full cost of the
Cottonwood extension as a 31-foot residential collector street. After discussing
timing and options with the developer, he has indicated that if the City committed
to funding at least 50% of the road improvement that he would consider committing
resources to completing other infrastructure and street improvements for Green
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Hills to final plat all the remaining lots. If there is not an incentive to invest in this
area now, there are other projects that he would prioritize first.
Ansley
Ansley is an approved Planned Unit Development with 170 residential lots. The approved
development is a mix of attached and detached single family dwellings with one site
intended for a commercial building. As part of the original subdivision approval, City
Council agreed to waive the developer’s responsibility to pave ½ of Cedar Lane
with the other half to be paid for by ISU. ISU had inherited the partial paving obligation
from buying land on the west side of Cedar Lane that was subject to development
agreement with the City.
A development agreement memorializing the improvement requirements is on the
agenda as a separate item. The estimated cost to the City for half of the roadway
was $250,000, but it would not occur in the next three years
Incentive Options:
The September 2025 report described a staff generated development phasing with
projected incentives and housing production for the next three years (est. 110 units per
year) and the totals for each project. The September report also utilized the developers
original categories of incentive requests, which differed by project.
For this report, staff created a generalized approach for categorizing the incentive values
to make them more easily comparable. Staff also utilized the same three-year horizon to
create Options. Attached to the report are worksheets of incentive options for each of the
five development projects seeking incentives at this time. The worksheets describe types
of incentives and sources of funding for the incentives. Additionally, summary sheets are
provided by Option to describe the collective funding source s and projected timing of the
cost to the City. Table 1 below summarizes the incentive value by source for each option
and Table 2 describes the incentive value per project for each option.
The Options are focused how the incentives can facilitate first phase construction
of a project within the next three years and the costs to the City over three years .
There have been no updates or other adjustment to costs estimates that were first
described in May 2025. The estimates provided in this report are high level and, in
many cases, projects will likely be more expensive for the City than represented
here, especially in future years.
The Option 1 category for each development project generally represents the pioneer and
oversizing projects described in September. Option 1 primarily utilizes the available ARPA
funding with some additional local funds.
Option 2 expands the incentive range by adding additional pioneer type projects or
expanding the financial assistance related to pioneer infrastructure projects. The financial
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assistance substantially exceeds the ARPA funding and utilizes a variety of other local
funding sources to increase the amount of incentive s.
Option 3 adds additional incentives approaching the estimated “need” described by the
developers, but not necessarily fully funding each request. The incentives do not solely
utilize the pioneer and oversizing categories to guide the incentive type. Funding sources
also include use of commercial and residential TIF in limited situations described in the
summary sheets.
Table 1: Summary of Options by Source
Table 2: Summary of Options by Project
Council should be aware that none of the incentive costs included in this report are
currently part of the City’s 5-year CIP. Staff did not attempt to reprioritize already
planned CIP projects to accommodate any incentive projects. Additionally, these
incentives do not include any other potential requests for City participation in other types
of pioneer infrastructure or oversizing that may be consistent with Plan 2040. Staff have
included a list of other such potential projects as an attachment to this r eport as
background for future consideration.’
RURAL WATER BUYOUT:
There is an underlying assumption referenced for the Auburn Trail and Hayden’s Preserve
project that the City can renegotiate the buyout costs for development sites along Hyde
Sources Option 1 Option 2 Option 3
Road Use 250,000$ 541,000$ 541,000$
GO Bonds 162,750$ 455,500$ 641,000$
ARPA 2,700,000$ 2,700,000$ 2,700,000$
Local Option Fund Balance 620,000$ 620,000$
Sewer Utility 250,000$ 250,000$ 250,000$
Water Utility -$
Connection Fees Water/Sewer Partial Waiver 370,000$
TIF Commercial (Dev. Rebate)600,000$ 1,900,000$
TIF Residential Dev. Rebate 375,000$
TIF Residential LMI Setaside 406,000$
Total 3,362,750$ 5,166,500$ 7,803,000$
Direct City Non-Federal Cost 662,750$ 1,866,500$ 2,052,000$
ARPA Funding 2,700,000$ 2,700,000$ 2,700,000$
Indirect Cost (Fee Waivers/TIF)-$ 600,000$ 3,051,000$
Project Requested (3yr/Total)Option 1 Option 2 Option 3 Est. Houses First 3 Years Total Dwellings
Domani I 371,000$ 92,750$ 185,500$ 371,000$ 25 25
Greenbriar $1,700,000/ 4,100,000 +1,020,000$ 1,840,000$ 2,740,000$ 75 450
Hayden's Preserve $ 2,800,000/$3,600,000 +2,000,000$ 2,185,000$ 2,800,000$ 125 660
Dankbar 1,200,000$ -$ 600,000$ 1,000,000$ 0 0
Auburn Trail 486,000$ 250,000$ 356,000$ 486,000$ 75 180
Ansley Total $250,000 -$ -$ -$ 25 160
Residential TIF LMI Setaside 52%-$ -$ 406,000$ -
Total $6,557,000/$10,007,000 +3,362,750$ 5,166,500$ 7,803,000$ 325 1475
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Avenue. This would benefit developers by having them pay a reduced cost of $4,000 per
acre compared to the current per unit cost of at least $2,800. This results in substantial
savings of $371,000 for Auburn Trail and $1,200,000 for Hayden’s Preserve. The
renegotiated buyout costs would be part of an updated water purchase agreement with
Xenia that would be reviewed with City Council in the first quarter of 2026.
STAFF COMMENTS:
As the Council reviews the 15 different options to incentivize the housing
developments, staff would highlight the following points:
• If all of the five developers are supported with the Option 3, the total subsidy would
be approximately $7,400,000 out of the estimated total $10,000,000 requests.
• It is not required that you select Option 1,2, or 3 uniformly for all projects. Council
can select different options level for each project or modify the options themselves.
• Staff has not verified developer suggested costs for projects, nor has staff been
provided an opportunity to review any formal pro forma related to the financial
feasibility of the projects to justify the incentive requests from the developers.
• The support to finance the five developers focuses only on creation of the
subdivisions. There is no guarantee how quickly housing will be built, how many
dwelling units will be built, and what will be the sales price or rent levels for the
residential units in the subdivisions. The Council will have to decide if you want to
establish certain conditions related to the granting of these incentive packages.
• Council should recall that the local development community indicated that current
available construction resources would limit the number of homes produced to
approximately 80 homes a year. This information would indicate that incentives
alone would not substantially increase housing production and outside
development resources are needed to increase production beyond 80 homes.
• The GW Carver/Cameron School Road Corridor improvements could be
completed as independent developer led projects as shown in the project sheets
or as a combined City corridor project. If Council elects to pursue a City led corridor
project, staff will evaluate a traditional improvement versus a roundabout
improvement and report back to Council in 2026. Staff would evaluate if a
roundabout is feasible and could be completed at the same cost with partner
funding as the original assumptions.
• The incentive options will support overall development of 1475 dwelling units, and
it is hoped that these extraordinary incentives will yield near term increases in
housing production.
• These incentive requests do not address other potential future pioneer and
oversizing projects that may be needed for the other growth areas.
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• There are some consistent pioneer projects that could be prioritized sooner rather
than later while considering other incentives, such as the sewer slip lining and east
west sewer projects.
• Staff realizes this is a complicated report and, therefore, no action must be taken
at this meeting allowing time for the Council to adequately review the material. The
issue should then be placed on a upcoming agenda for direction.
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Development Overviews
•Hayden’s Preserve
•Auburn Trail
•Greenbriar (former Borgmeyer farm property)
•Commercial Area of Bluffs at Dankbar Farms
•Domani I (south)
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North Development Area
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South Development Area
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Hayden’s Preserve
•City complete east west sewer trunk line
•City pay for road creek crossing
•City complete turn lane improvements
•City reduce collection of water/sewer connection fees related to undeveloped open spaces (aprox. 21%)
•City reimburse developer for park land
•City waive traffic signal fair share payment
•City purchase Xenia Territory Buyout in lieu of developer
•City construct off-site trail along Hyde (Sturges/INHF property)
•Potential for TIF as developer rebate, exempt site from property tax abatement program
Existing Master Plan and Development Agreement- maximum of 620 units total for 170 acres
Proposed to change Master Plan, allow for more, townhomes, single family, reduce MF, keep commercial
Phase 1-Proposed 176 townhomes, 50 SF lots, 84 Multi Family Units, 24 MF units 5ac commercial
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Auburn Trail
•City purchase Xenia Territory Buyout in lieu
of developer
•City waive traffic signal fair share payment
•City reimburse developer for park land
•Developer did not identify other specific
costs reductions noting there may still be
a potential gap
•Proposed TIF as developer rebate for other
reimbursements, exempt site from
property tax abatement program
Approved Master Plan Zoning and
Development Agreement
Allows for single family dwellings
180-200 units projected
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Greenbriar
•City complete east west sewer trunk line to west side of Railroad
•City assist in extension of trunk line west through the property
•City complete off-site Moore Park sewer slip lining for first phase development
•City purchase Xenia Territory Buyout in lieu of developer
•City construct Stange Road Extension
•City construct all GW Carver improvements for turn lanes, shared use path, traffic signal
•City acquire parkland from developer
•Potential for TIF as developer rebate, exempt site from property tax abatement program
•NOTE-City may have an interest in acquiring site for temporary Station 4 facility, developer is willing to sell a property for a station house
Initiated Annexation, to include development agreement for sewer, road improvements, parkland, etc.
Plan 2040 designates as RN-4 for walkable mixed use and density neighborhood
Development Concept- 5-8 acres commercial//200 Multi Family Units//250 single family attached/detached dwelling types
Phase 1- May include SF units and/or Commercial
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Bluffs at Dankbar Farms
•City complete Cameron School and GW Carver improvements for Turns Lanes and any needed widening
•Traffic study indicated a need for an additional lane to create left turn lanes at Cameron School Rd and for turning access to the site.
•Previously evaluated roundabout option that was preferred improvement but deemed to not be feasible for a single developer. City accepted a traffic signal plan as future improvement. Developer has contributed to traffic signal already.
20 Acre Outlot corner of GW Carver/Cameron School
Approved Development Agreement for Developer paid Road and Sewer costs
Development Concept- 6 acres commercial and Change zoning to FS-RM for Senior Assisted Living (Staff evaluating impacts of proposed change to City resources)
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Domani I
Request-City construct extension of
Cottonwood as 31-Foot Street
Approved PRD Plan-
Final two phases include Domani Lots and
larger custom lots
Total of 23 Single Family lots to be platted
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Ansley
Cedar Lane is unpaved south of Middleton
Road. Council agreed to waive developer
requirement with future phase to pave south
of Middleton. Half of the paving cost is an
obligation of ISU. Estimated City cost for ½ of
project was $250,000.
Development Agreement for paving is
pending. Developer to provide engineered
drawings for City to bid and construct road at
a time determined by City Council
Approved PUD and Plat
Previous approval by Council of Cedar Lane paving
May request sidewalk waivers or deferrals in the future
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Financial Estimates -Hayden’s Preserve
Hayden's Preserve 170 ac
Preliminary City Cost
Estimates
Source Of Funds Options,
If a share is the City
15 Inch Sewer INHF Segment 1320 ft $ 792,000 ARPA/Sewer Fund
12 Inch Sewer Developer Use 900 ft $ 360,000 ARPA/Sewer Fund
Shared Use Path INHF/ Sturges 1320 ft (offsite gap)$ 250,000 ARPA, GO Bonds/Road Use
Greenway trail bridge already city cost future, previously agreed Park Development Fund/Grant
Water Connection Fees July 1 $1,689.00 /ac Reduce 21% for Open Space $ 60,297 Water Fund/no collection
Water buyout (Xenia) renegotiated per acre 4k assumption ($1.2 million
savings for developer if not City)$ 680,000 Water Fund
Sewer Connection Fee July 1 $2,554.00 /ac Reduce 21% for Open Space $ 91,178 Sewer Fund/no collection
Trafic Signal Bloomington (does not escalate)$ 85,000 ARPA, GO Bonds/Road Use
Turn Lane Hyde Into Site $ 200,000 GO Bond/Road Use
Park value of land 30k for 5.5 acres $ 165,000 Park Develoment Fund
East West Road Crossing Culvert $ 750,000 GO Bonds/Road Use
Total Ask Amount of City Assistance $ 3,534,748
Also requesting 10 years TIF up agreed upon limit for each Phase of
development
May propose redesign that also increases density of units to a total of 650
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Financial Estimates -Auburn Trail
Auburn Trail (70 acres west of Hyde)
Preliminary City
Cost Estimates
Source Of Funds Options, If
a share is the City
Traffic Signal-Off Site Bloomington/Hyde (escalates per year)$ 106,000 ARPA, GO Bonds Streets
Water buyout (Xenia) renegotiated per acre assumption ($250k
savings for developer if not City)$ 280,000 Water Fund
Park land purchase and improvements $ 100,000 Park Develoment Fund
Other unspecified requests
Total Ask Amount of City Assistance $ 486,000
Other requests or savings estimated at $400,000 depending on final
site design and unit counts//May request TIF
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Financial Estimates -Greenbriar
Greenbriar 155 acres
Preliminary City Cost
Estimates
Source Of Funds Options, If
a share is the City
Stange Collector Street Extension 3300 ft $ 1,800,000 GO Bonds/Road Use
Off site 12 inch sewer - ARPA/Sewer Fund
Off site 15 inch sewer - ARPA/Sewer Fund
12 Inch sewer extension under RR 500 ft to this site $ 250,000 ARPA/Sewer Fund
Sewer Connection Fees $4,419.00 /ac $ 662,850 Sewer Fund/no collection
Water Connection Fee (none required)none NA
On site sewer size 12 inch 500 feet oversized $ 150,000 Sewer Fund/GO Bond
Construct Slip Line of Sewer in Moore Memorial for 1st Phase $ 250,000 ARPA/Sewer Funds
Offsite Traffic Improvements(e.g. turn lanes, signal costs)$ 820,000 GO Bonds/Road Use
City acquisition of parkland and improvements no estimate available Park Develoment Fund
Xenia water buyout at $3000 per acre, previously negotiated $ 450,000 Water Fund
Total Ask Amount of City Assistance $ 4,382,850
Request for TIF rebate for remaining infrastructure costs, developer
estimate of $4,000,000 of potential need
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Financial Estimates -Bluffs at Dankbar
Bluffs at Dankbar -20 Acres (6 ac commercial and 14 ac senior living)
Preliminary City
Cost Estimates
Source Of Funds Options,
If a share is the City
Cameron School Road and GW Carver Turn Lanes $ 1,200,000 GO Bonds/Road Use
Total Ask Amount of City Assistance $ 1,200,000
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Financial Estimates -Domani I
Domani I-(23 single family units remaining)
Preliminary
City Cost
Estimates
Source Of Funds Options, If a
share is the City
Constructed Cottonwood Road as 31 foot Residential Collector Street $ 371,000 GO Bonds/Road Use
Total Ask Amount of City Assistance $ 371,000
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Domani Option 1
Cottonwood Oversizing 25% 92,750$ 92,750$
Staff categorized Cottonwood as a Residential Collector Street assuming
25% of overall cost for street improvements.
-$
-$
Total -$ 92,750$ -$ -$ 92,750$
Developer requested aproximately
$371,000 for the full cost of
Cottonwood
The Developer has indicated that he would not prioritize the remaining
phases within the next three years.
Sources Option 1
Road Use -$ -$
GO Bonds -$
ARPA 92,750$ -$ 92,750$
Sewer Utility -$
Totals -$ 92,750$ -$ -$ 92,750$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Domani Option 2
Cottonwood Pioneer at 50% 185,500$ 185,500$
If classified as Pioneer for closing a gap In the street system, additional
incentives could be justified.
Total -$ 185,500$ -$ -$ 185,500$
Developer requested aproximately
$371,000 for the full cost of
Cottonwood
The Developer has indicated with a 50% cost share, he would consider
proceeding with the remaining phases of his subdivision.
Sources Option 2
Road Use -$ -$
GO Bonds 185,500$ -$ 185,500$
ARPA -$ -$
Sewer Utility -$ -$ -$
Totals -$ 185,500$ -$ -$ 185,500$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Domani Option 3
Cottonwood as Pioneer at 100% 371,000$ 371,000$
Pioneer if viewed as closing a street system gap and a 100% incentive
for paving. However, since the street does include frontage with homes
along 1/3 of its frontage it would not be typically characterized as 100%
Pioneer. The Developer has indicate he would agree with a 100%
incentive to final plat lots for all remaining phases.
Total -$ -$ 371,000$ -$ 371,000$
Developer requested aproximately
$371,000 for the full cost of
Cottonwood
Sources Option3
Road Use -$ -$
GO Bonds 371,000$ 371,000$
ARPA -$ -$
Sewer Utility -$ -$ -$
Totals -$ -$ 371,000$ -$ 371,000$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Auburn Trail Option 1
Hyde Shared Use Path Pioneer 250,000$ 250,000$
Overall path is 1 mile in
length, the remaining
$750,000 cost associated
with Hayden's Preserve.
-$
-$
Total -$ -$ 250,000$ -$ 250,000$
Developer request for 3 year total aproximately
$486,000 with reconfigured subdivision layout and
reduced water buyout fee // Developer recently
commented that Options 2 would make the project
viable with a modified layout and reduced wate
rbuyout fees. Developer saves approximately
$371,000 with reduced buyout.
Sources Option 1
Road Use -$
GO Bonds -$
ARPA 250,000$ 250,000$
Sewer Utility -$
Totals -$ -$ 250,000$ -$ 250,000$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Auburn Trail Option 2
Hyde Shared Use Path Pioneer 250,000$ 250,000$
Overall path is 1 mile in
length, remaining $750,000
cost associated with
Hayden's Preserve.
Traffic Signal Payment for Bloomington/Hyde 106,000$ 106,000$
Fee due with first plat,
remaining fees to be
collected from Hayden's
Preserve
Total -$ -$ 250,000$ 106,000$ 356,000$
Developer request for 3 year total aproximately
$486,000 with reconfigured subdivision layout and
reduced water buyout fee // Developer recently
commented that Options 2 would make the project
viable with a modified layout and reduced wate
rbuyout fees. Developer saves approximately
$371,000 with reduced buyout.
Developer recently
commented that Option 2
would make the project viable
with a modified layout and
reduced water buyout fees
Sources Option 2
Road Use 106,000$ 106,000$
GO Bonds -$ -$
Local Option Fund Balance -$
ARPA 250,000$ 250,000$
Sewer Utility -$ -$ -$
Totals -$ -$ 250,000$ 106,000$ 356,000$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Auburn Trail Option 3
Hyde Shared Use Path Pioneer 250,000$ 250,000$
Overall path is 1 mile in
length, remaining $750,000
cost associated with
Hayden's Preserve.
Traffic Signal Payment for Bloomington/Hyde 106,000$ 106,000$
Fee due with first plat,
remaining fes to be
collected from Hayden's
Preserve
Waiver of Connection Fees for 56 homes 130,000$ 130,000$
Total -$ -$ 250,000$ 236,000$ 486,000$
Developer request for 3 year total aproximately
$486,000 with reconfigured subdivision layout and
reduced water buyout fee // Developer recently
commented that Options 2 would make the project
viable with a modified layout and reduced wate
rbuyout fees. Developer saves approximately
$371,000 with reduced buyout.
Developer indicated Option
2 would allow the project to
proceed, additional funding
is not warranted with a
reduced Xenia buyout. Staff
does not recommend
Option 3 incentives.
Sources Option 3
Road Use 106,000$ 106,000$
GO Bonds -$
ARPA -$ 250,000$ 250,000$
Waive Water Sewer Connection Fees 130,000$ 130,000$
Sewer Utility -$ -$ -$
Totals -$ -$ 250,000$ 236,000$ 486,000$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Dankbar Option 1 Cameron and GW Carver Widening
Cameron and GW Widening Developer Cost per Agreement -$
No incentive with Option 1 since the site
was not identified for oversizing or pioneer
infrastructure, no direct housing
construction associated with the
infrastructure project.
Total -$ -$ -$ -$ -$
Developer is currently obligated by a development agreement
to make lane widening along GW Carver and Cameron School
Road at his cost. The Developer is now requesting $1.2
million incentive related to road. improvements.
Sources Option 1
Road Use -$ -$
GO Bonds -$ -$
ARPA -$ -$
Sewer Utility -$ -$
TIF-Commercial -$ -$
Totals -$ -$
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Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Dankbar Option 2 Cameron and GW Carver Widening
Cameron and GW Widening -Partial Pioneer 600,000$ 600,000$
Council could classify part of the corridor
improvements as pioneer and provide for
50% assistance. This option could include
the City coordinating a corridor project
along with Greenbriar improvements, or for
incremental improvements by the
Developer. The City would reduce the
developer obligation by $600,000 utilizing
TIF generated from the commercial area
and the developer would provide payment
to the City for remaining related costs if the
project is coordinated by the City.
Total -$ -$ 600,000$ -$ 600,000$
Developer is currently obligated by a development agreement
to make lane widening along GW Carver and Cameron School
Road at his cost. The Developer is now requesting $1.2
million incentive related to road. improvements.
Sources Option 2
Road Use
GO Bonds
ARPA
TIF-Commercial (Min. Assessment 3 Million Valuation for 10 Years 600,000$ 600,000$
Developer plans for a convenience store at
the corner that could have a minimum
assessment agreement to ensure that
$600,000 could be generated over a
maximum of ten years to reimburse the City
for costs related with a corridor
improvement or as a develoepr rebate.
Sewer Utility -$
Totals -$ -$ 600,000$ -$ 600,000$
30
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Dankbar Option 3 Lane Widening Developer TIF $1million
Lane Widening by Developer with TIF Rebate 10 year up to $1million 1,000,000$ 1,000,000$
The Council could classify the corridor
improvements as pioneer warranting a
greater amount of incentive. The Developer
would make the lane widenings at his cost
and receive acommercial TIF rebate of up
to $1 million dollars over 10 years. To
receive $1million dollars in 10 years,
additional commercial development would
be needed.
-$
-$
-$
-$
Total -$ -$ -$ 1,000,000$ 1,000,000$
Developer is currently obligated by a development agreement
to make lane widening along GW Carver and Cameron School
Road at his cost. The Developer is now requesting $1.2
million incentive related to road. improvements.
Sources Option 3
Road Use
GO Bonds
ARPA
TIF-Commercial 1,000,000$ 1,000,000$
Staff estimates additional development
beyond the convenience store valuation is
necessary to generate a $1,000,000 of TIF
in ten years. However, the Developer has
two additional vacant commercial lots that
could generate additional TIF revenue.
Sewer Utility
Totals -$ -$ -$ 1,000,000$ 1,000,000$
31
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Hayden's Option 1
Hyde Shared Use Path Pioneer 750,000$ 750,000$
Overall Hyde Path is 1 mile long.
Remaining $250,000 cost associated
with Auburn Trail.
East West Sewer to Railroad Tracks Pioneer 1,250,000$ 1,250,000$
The cost of extension under the
railroad tracks is associated with
Greenbriar
Total -$ 1,250,000$ 750,000$ -$ 2,000,000$
Developer request for 3 years estimated at
$2.8million total with $3.6 million total plus
potential TIF. Assumes Developer benefts from
reduced water buyout at $4k per acre. Total
Developer savings from reduced water buyout
aprox. $1.2 million.
Sources Option 1
Road Use -$ -$
GO Bonds -$
ARPA 1,250,000$ 750,000$ 2,000,000$
Sewer Utility -$
Local Option Fund Balance -$
Totals -$ 1,250,000$ 750,000$ -$ 2,000,000$
32
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Hayden's Option 2
Hyde Shared Use Path Pioneer 750,000$ 750,000$
Overall Hyde Path is 1 mile long.
Remaining $250,000 cost associated
with Auburn Trail.
East West Sewer to Railroad Tracks Pioneer 1,250,000$ 1,250,000$
The cost of extension under the
railroad tracks is associated with
Greenbriar
Traffic Signal Payment for Bloomington/Hyde 185,000$ 185,000$ The fee due with first plat remaining
fees to be collected from Auburn Trail
Total -$ 1,250,000$ 750,000$ 185,000$ 2,185,000$
Developer request for 3 years estimated at
$2.8million total with $3.6 million total plus
potential TIF. Assumes Developer benefts from
reduced water buyout at $4k per acre. Total
Developer savings from reduced water buyout
aprox. $1.2 million.
Sources Option 2
Road Use 185,000$ 185,000$
GO Bonds -$ -$
ARPA 1,250,000$ 130,000$ 1,380,000$
Local Option Fund Balance 620,000$ 620,000$
Sewer Utility -$ -$
Totals -$ 1,250,000$ 750,000$ 185,000$ 2,185,000$
33
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Hayden's Trail Option 3
Hyde Shared Use Path Pioneer 750,000$ 750,000$
Overall Hyde Path is 1 mile long.
Remaining $250,000 cost associated
with Auburn Trail.
East West Sewer to Railroad Tracks Pioneer 1,250,000$ 1,250,000$
The cost of extension under the
railroad tracks is associated with
Greenbriar
Traffic Signal Payment for Bloomington/Hyde 185,000$ 185,000$ Fee due with first plat, remaining fees
to be collected from Auburn Trail
Box Culvert-50% of $750,000 375,000$ 375,000$
The creek crossng would be a
beneficial element for the project
simliar to oversizing or pioneer that is
internal to the site between Phase 1
and 2. Such an improvement could
not easily be planned and
accomplished by the City. Use of
Residential TIF assists in timing and
benefit based upon actual
develpoment rates.
Waive connection fees pro rata first 215 dwellings 240,000$ 240,000$
Waiving fees is a commensurate
incentive to actual construction. It is
not a direct cost to the City since the
utilty funds have already been spent
for the water and sewer lines.
Total -$ 1,250,000$ 1,125,000$ 425,000$ 2,800,000$
Developer request for 3 years estimated at
$2.8million total with $3.6 million total plus
potential TIF. Assumes Developer benefts from
reduced water buyout at $4k per acre. Total
Developer savings from reduced water buyout
aprox. $1.2 million.
34
Sources Option 3
Road Use 185,000$ 185,000$
GO Bonds -$
ARPA -$ 1,250,000$ 130,000$ 1,380,000$
Waive Water Sewer Connection Fees -$
TIF Residential Rebate 375,000$ 375,000$
Total Residetial TIF obligation with LMI
is $781,000. Maximum length of TIF is
10 years.
Local Option Fund Balance 620,000$ 620,000$
Waive connection fees pro rata first 215 dwellings 240,000$ 240,000$
Sewer Utility -$ -$
Totals -$ 1,250,000$ 1,125,000$ 425,000$ 2,800,000$
35
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Greenbriar Option 1
Stange Oversizing 30% 270,000$ 270,000$ Total estimate is $540,000, half would
occur after first 3 years, includes use
of roundabouts within the project
Cameron Traffic Signal Oversizing 50% 250,000$ 250,000$
Assumes 50% of signal costs for City,
25% for Greenbriar
East West Sewer Pioneer Under Tracks 250,000$ 250,000$
Assumes first segment at $1.25
million occurs with Hayden's Perserve
Slip Line Sewer Pioneer 250,000$ 250,000$
Total 250,000$ 250,000$ 270,000$ 250,000$ 1,020,000$
Developer request 3 years estimated at $1.7 million with a total request
of $4.1 million plus Developer TIF rebates. Assumes first phase starting
at the south.
Sources Option 1
Road Use 250,000$ 250,000$
GO Bonds 270,000$ 270,000$
ARPA 250,000$ 250,000$
Sewer Utility 250,000$ 250,000$
Totals 250,000$ 250,000$ 270,000$ 250,000$ 1,020,000$
36
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Greenbriar Option 2 GW Lane Widening and Signal
Stange Oversizing 270,000$ 270,000$ Total estimate is $540,000, half would
occur after first 3 years, includes use
of roundabouts within the project
Cameron Traffic Signal Oversizing 50% 250,000$ 250,000$
Assumes 50% of signal costs for City,
25% for Greenbriar
East West Sewer Pioneer Under Tracks 250,000$ 250,000$
Assumes first segment at $1.25
million occurs with Hayden's Perserve
Slip Line Sewer Pioneer 250,000$ 250,000$
GW Carver Turn Lanes and Shared Use Path 410,000$ 410,000$ 820,000$
Originally not classified as pioneer, if
part of corridor improvement it would
be focused on Columbus and
Cameron Segment. Barcellos
intersection by Developer.
Total 250,000$ 250,000$ 680,000$ 660,000$ 1,840,000$
Developer request 3 years estimated at $1.7 million with a total request
of $4.1 million plus Developer TIF rebates. Assumes first phase starting
at the south.
Sources Option 2
Road Use 250,000$ 250,000$
GO Bonds 270,000$ 270,000$
ARPA 250,000$ 410,000$ 410,000$ 1,070,000$
Sewer Utility 250,000$ 250,000$
Totals 250,000$ 250,000$ 680,000$ 660,000$ 1,840,000$
37
Project Option FY25/26 FY26/27 FY27/28 FY28/29 Totals Notes
Greenbriar Option 3 Lane Widening +Signal+ Commercial
TIF
Stange Oversizing Non-Commercial area 270,000$ 270,000$
Total estimate is $540,000, half would
occur after first 3 years, includes use
of roundabouts within the project
Stange Extension Pioneer Commercial Frontage Signal Share 1200 FT 900,000$ 900,000$
TIF Rebate for Commercial
Development
Cameron Traffic Signal Oversizing 250,000$ 250,000$
East West Sewer Pioneer Under Tracks 250,000$ 250,000$
Slip Line Sewer Pioneer 250,000$ 250,000$
GW Carver Turn Lanes and Shared Use Path 820,000$ 820,000$
Focused on Columbus and Cameron
Segment, Barcellos by Developer
Total 250,000$ 250,000$ 1,090,000$ 1,150,000$ 2,740,000$
Developer request 3 years estimated at $1.7 million with a total request
of $4.1 million plus Developer TIF rebates. Assumes first phase includes
residential at south and commercial at north.
Sources Option 3
Road Use 250,000$ 250,000$
GO Bonds 270,000$ -$ 270,000$
ARPA 250,000$ 820,000$ 1,070,000$
Sewer Utility 250,000$ 250,000$
Commercial TIF Rebate up to 10 Years 900,000$ 900,000$
Up to $900,000 or 10 years, whichever
occcurs first
Totals 250,000$ 250,000$ 1,090,000$ 1,150,000$ 2,740,000$
38
Project benefits year 1 with reduced costs, city incurrs cost as shown in table
Option 1 Incentive Total Year 0 Year 1 Year 2 Year 3 NOTES
Project FY25/26 FY 26/27 FY27/28 FY28/29
Domani I 92,750$ 92,750$
Greenbriar 1,020,000$ 250,000$ 250,000$ 270,000$ 250,000$
Hayden's Preserve 2,000,000$ 1,250,000$ 750,000$
Dankbar -$
Auburn Trail 250,000$ 250,000$
Total 3,362,750$ 250,000$ 1,592,750$ 1,270,000$ 250,000$
Sources
Road Use 250,000$ 250,000$
GO Bonds 162,750$ 162,750$
ARPA 2,700,000$ 1,592,750$ 1,107,250$
Local Option Fund Balance -$
Sewer Utility 250,000$ 250,000$
Water Utility -$
Connection Fees Water/Sewer Partial Waiver -$
TIF Commercial -$
TIF Residential Rebate -$
TIF Residential LMI 52% Setaside -$
Total 3,362,750$ 250,000$ 1,592,750$ 1,270,000$ 250,000$
Direct City Non-Federal Cost 662,750$ 250,000$ -$ 162,750$ 250,000$
ARPA Funding 2,700,000$ -$ 1,592,750$ 1,107,250$ -$
Indirect Cost (Fee Waivers/TIF)-$ -$ -$ -$ -$
Developer completes lanes at
their cost per existing
agreement
39
Project benefits year 1 with reduced costs, city incurrs cost as shown in table
Option 2 Incentive Total Year 0 Year 1 Year 2 Year 3 NOTES
Project FY25/26 FY 26/27 FY27/28 FY28/29
Domani I 185,500$ 185,500$
Greenbriar*
1,840,000$ 250,000$ 250,000$ 680,000$ 660,000$
Hayden's Preserve 2,185,000$ 1,250,000$ 750,000$ 185,000$
Dankbar*
600,000$ 600,000$
Auburn Trail 356,000$ 250,000$ 106,000$
Total 5,166,500$ 250,000$ 1,685,500$ 2,280,000$ 951,000$
Sources
Road Use 541,000$ 541,000$
GO Bonds 455,500$ 185,500$ 270,000$
ARPA 2,700,000$ 1,500,000$ 790,000$ 410,000$
Local Option Fund Balance 620,000$ 620,000$
Sewer Utility 250,000$ 250,000$
Water Utility -$
Connection Fees Water/Sewer Partial Waiver -$
TIF Commercial to City 600,000$ 600,000$
TIF Residential Rebate -$
TIF Residential LMI Setaside -$
Total 5,166,500$ 250,000$ 1,685,500$ 2,280,000$ 951,000$
Direct City Non-Federal Cost 1,866,500$ 250,000$ 185,500$ 890,000$ 541,000$
ARPA Funding 2,700,000$ -$ 1,500,000$ 790,000$ 410,000$
Indirect Cost (Fee Waivers/TIF)600,000$ -$ -$ 600,000$ -$
Residential TIF requires a Low and Moderate Income setaside of aprox. 52% of the
TIF used for infrastructure, whether a rebate or city project
Commercial TIF rebate to a developer for economic development of commercial
uses does not require LMI setaside.
Dankbar developer makes
financial contribution for
remaing costs
ARPA dispersed differently than Option 1, prioritizing ARPA for sewer and road
projects and utilizing traditional Local Option for trail improvements
Residential TIF must be based upon identified infrastructure costs and have a
maximum life of 10 years.
40
Project benefits year 1 with reduced costs, city incurrs cost as shown in table
Option 3 Incentive Total Year 0 Year 1 Year 2 Year 3 NOTES
Project FY25/26 FY 26/27 FY27/28 FY28/29
Domani I 371,000$ 371,000$
Greenbriar 2,740,000$ 250,000$ 250,000$ 1,090,000$ 1,150,000$
Hayden's Preserve 2,800,000$ 1,250,000$ 1,125,000$ 425,000$
Dankbar 1,000,000$ 1,000,000$
Auburn Trail 486,000$ 250,000$ 236,000$
Residential TIF LMI Setaside 52%406,000$ 406,000$
Total 7,803,000$ 250,000$ 1,500,000$ 3,242,000$ 2,811,000$
Sources
Road Use 541,000$ 541,000$
GO Bonds 641,000$ 641,000$
ARPA 2,700,000$ 1,500,000$ 1,200,000$
Local Option Fund Balance 620,000$ 620,000$
Sewer Utility 250,000$ 250,000$
Water Utility -$
Connection Fees Water/Sewer Partial Waiver 370,000$ 370,000$
TIF Commercial Dev. Rebate 1,900,000$ 1,900,000$
TIF Residential Dev. Rebate 375,000$ 375,000$
TIF Residential LMI Setaside 406,000$ 406,000$
Total 7,803,000$ 250,000$ 1,500,000$ 3,242,000$ 2,811,000$
Direct City Non-Federal Cost 2,052,000$ 250,000$ -$ 1,667,000$ 541,000$
ARPA Funding 2,700,000$ -$ 1,500,000$ 1,200,000$ -$
Indirect Cost (Fee Waivers/TIF)3,051,000$ -$ -$ 375,000$ 2,270,000$
Residential TIF must be based upon identified infrastructure costs and have a maximum life
of 10 years.
Residential TIF requires a Low and Moderate Income setaside of aprox. 52% of the TIF used
for infrastructure, whether a rebate or city project
Commercial TIF rebate to a developer for economic development of commercial uses does
not require LMI setaside.
41
Sources Option 1
Road Use 250,000$
GO Bonds 162,750$
ARPA 2,700,000$
Local Option Fund Balance
Sewer Utility 250,000$
Water Utility -$
Connection Fees Water/Sewer Partial Waiver
TIF Commercial (Dev. Rebate)
TIF Residential Dev. Rebate
TIF Residential LMI Setaside
Total 3,362,750$
Direct City Non-Federal Cost 662,750$
ARPA Funding 2,700,000$
Indirect Cost (Fee Waivers/TIF)-$
42
Option 2 Option 3
541,000$ 541,000$
455,500$ 641,000$
2,700,000$ 2,700,000$
620,000$ 620,000$
250,000$ 250,000$
370,000$
600,000$ 1,900,000$
375,000$
406,000$
5,166,500$ 7,803,000$
1,866,500$ 2,052,000$
2,700,000$ 2,700,000$
600,000$ 3,051,000$
43
Project Requested (3yr/Total)Option 1
Domani I 371,000$ 92,750$
Greenbriar $1,700,000/ 4,100,000 +1,020,000$
Hayden's Preserve $ 2,800,000/$3,600,000 +2,000,000$
Dankbar 1,200,000$ -$
Auburn Trail 486,000$ 250,000$
Ansley Total $250,000 -$
Residential TIF LMI Setaside 52%-$
Total $6,557,000/$10,007,000 +3,362,750$
Funding Source Option 1 Option 2
Road Use 250,000$ 541,000$
GO Bonds 162,750$ 455,500$
ARPA 2,700,000$ 2,700,000$
Local Option Fund Balance -$ 620,000$
Sewer Utility 250,000$ 250,000$
Connection Fees Water/Sewer Partial Waiver -$ -$
TIF Commercial Dev. Rebate -$ -$
TIF Residential Dev. Rebate -$ -$
TIF Residential LMI Setaside -$ -$
TIF Commercial to City -$ 600,000$
Total 3,362,750$ 5,166,500$
44
Option 2 Option 3 Est. Houses First 3 Years Total Dwellings
185,500$ 371,000$ 25 25
1,840,000$ 2,740,000$ 75 450
2,185,000$ 2,800,000$ 125 660
600,000$ 1,000,000$ 0 0
356,000$ 486,000$ 75 180
-$ -$ 25 160
-$ 406,000$ -
5,166,500$ 7,803,000$ 325 1475
Option 3
541,000$
641,000$
2,700,000$
620,000$
250,000$
370,000$
1,900,000$
375,000$
406,000$
-$
7,803,000$
45
Ames Plan 2040 Other Pioneer Projects
The current development incentive requests are driven by specific development
projects. In addition to these specific requests, there can be other pioneer projects that
require funding assistance, full or partial. Pioneer projects are those that are needed to
realize development interests for the growth areas identified within Plan 2040.
Example Projects:
1. East Growth
• E13th Street Traffic Signals and Lane Widening with commercial
development
• Paving of 570th Avenue north of E 13th Street with Commercial or
Residential Development
2. West Growth
• Lincoln Way and County Line Road Intersection Roundabout. Proposed
as a 2030-31 project in the CIP.
• Paving of County Line Road south of Lincoln Way
3. South Growth
• Paving of 265th Street
• Paving of 550th Avenue
46
Staff Report
GW CARVER CAMERON SCHOOL ROAD ROUNDABOUT OPTION IN RELATION
TO HOUSING DEVELOPMENT INCENTIVES
December 16, 2023
The Development Incentive Options Report currently assumes planned road
improvements for GW Carver and Cameron School Road based upon a traditional 3 -lane
roadway section widening and a traffic signal at the Cameron School Road intersection.
Road improvements are related to the Dankbar and Greenbriar projects. The road
widening and traffic signals are treated as independent projects, allowing for more
flexibility in timing and for how much incentive to provide to a project.
Alternatively, staff has identified an option related to Greenbriar and Dankbar that
considers the combined GW Carver and Cameron School Road improvement
needs as one corridor project, rather than independent development related
improvements. The hybrid project would utilize a roundabout in lieu of a traffic
signal at Cameron.
The rationale to combine the projects as a City corridor project relates to the Ames MPO
Transportation Plan that identifies that in the medium-term horizon (after 2035) that a
roundabout improvement is a preferred intersection treatment compared to a sign al. The
benefit of the roundabout in this situation is management of speed with improved safety
and multi-modal access. Additionally, roundabouts have a lower operating cost because
there is not any traffic signal infrastructure to constantly maintain. However, the
developers have indicated a desire to have the intersection improved sooner than 2035 ,
which is why it is part of the Developer Incentive discussion.
Despite the operational benefits, there are potential complications with pursuing
a combined corridor improvement.
There has been no preliminary engineering for a specific design of a roundabout.
The roundabout will cost more than the projected lane widening and signal costs.
MPO funds are already programmed for the next five years and cannot b e
utilized for this project in the near term , it would require local funding.
The timing of the developers’ interests would necessitate prioritizing the project
with multiple steps to be constructed in FY2027-28.
Despite these issues, staff supports this roundabout option if costs can be
mitigated with partner funding. Staff estimates that the combined costs for 1500 feet
of corridor improvements that include a roundabout will approach $3.0 million. The
47
roundabout component itself is estimated at $2 million of the $3 million total. The total
cost will exceed the projected $2.1 million requested by developers for lane widening and
a signal at Cameron that was considered within Option 2.
To mitigate the cost differential, staff would propose the following steps to
determine feasibility:
1. Identify local funding as a combination of ARPA ($820,000), Dankbar Commercial
TIF financing (minimum assessment agreement for $600,000), and developer
contribution from Dankbar for the differential up to $600,000. This approach is
described in Option 2 of the overall report.
2. Direct Public Works staff to begin preliminary engineering work for a roundabout
intersection design and corridor improvements for approximately 1,500 feet of
GW Carver at a cost of $50,000 utilizing ARPA funding.
3. Request Story County funding assistance for preliminary design of up to $50,000
and for 25% of the roundabout construction cost (est. $400,000) with the request
provided to the County by February 2026. Story County evaluates budget
requests in February for road projects. The actual road construction funding
would not be needed until FY 2027-28. If there is no interest in partnering, the
project would stop and return to lane widening and a signal.
4. If Story County agrees to participate, an agreement will be completed for City
staff/consultant to do preliminary engineering for a roundabout design and costs
estimate and to apply in the Fall of 2026 for a competitive $500,000 state safety
grant.
5. If awarded the state grant, complete a 28E agreement with Story County,
complete the road design, and bid the project for construction in FY 2027-28.
SUMMARY OF PROJECT FUNDING:
ARPA $820,000
Dankbar Commercial TIF with minimum assessment agreement $600,000
Dankbar Developer Maximum Contribution $600,000
Story County (25% of Round About) $400,000
State Grant $500,000
Previous Developer Contribution for Traffic Signal $80,000
TOTAL $3,000,000
48