Edgewood Crossing, East End Marketplace and Eagle Lakes

Project Description

Owner participation agreement (OPA) for the construction of public infrastructure improvements by the participant, with the cost of the reimbursable public improvements (at a rate of 75%) to be reimbursed by the EURA from a portion of the annual net tax revenues generated by the increased value of the property following private development of the site. Improvements included utilities extensions, street lights, relocating overhead power to underground, storm drainage, curb gutter and sidewalk, landscaping, road improvements, and acquisition costs for right-of-way.

In 2019, the first reimbursement was made to the developer in the amount of $115,336.31.

In 2023, the developer made its second, and final, reimbursement request in the amount of $1,232,663.69, for a total overall reimbursement amount of $1,382,871.58. The board approved the second reimbursement in November 2023.