A new ceiling for Rainey: 51-story condo tower in the works
By Marissa Luck – Staff Writer, Austin Business Journal Click Here To Read The Original Article Yet another sky-scraping change is coming to the Rainey
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Changes are coming to the Regional Stormwater Management Program (RSMP) and the Urban Watershed Structural Control Fund in Austin, Texas. Here’s what you need to know and how the changes may affect your development project.
The RSMP allows developers in Austin, Texas to make a payment in lieu of constructing a detention pond or construct approved off-site drainage improvements. Participation is on a case-by-case basis when it can be demonstrated on-site detention is not needed.
The RSMP participation fee is primarily a factor of the appraised land value, proposed impervious cover, and approximate detention facility construction costs. Currently, there are two calculators, each with their own rate scales: one for single-family development and one for commercial/multifamily development. The appraised land value is currently capped at $40K per acre for single-family developments and is capped at $120K per acre for commercial/multifamily developments. A construction cost adjustment factor using the Engineering News Record Construction Cost Index Adjustment Factor with the base year of 2002 is applied to all RSMP calculations; the ENR AF is currently around 1.72. It is assumed that 5% of the site area is the required footprint for a detention facility.
A 2018-2019 study was completed to update the RSMP participation cost calculator for both single-family and commercial/multifamily developments. The study focused on updating construction costs and providing a realistic value for the land cost component. Below is a summary of the proposed changes:
The City is encouraging all stakeholders to provide any feedback on the proposed changes. A preliminary rules posting is expected this month (May 2020), and the new fee structure is expected to take effect for the fiscal year 2021 (October 2020).
In addition to RSMP fee calculation updates, RSMP participation is now part of the development application completeness check and formal review submission. A feasibility meeting must be held prior to completeness and a full RSMP application package must be provided with the formal submittal or the project will be rejected for U0 comments. The RSMP Feasibility Meeting Request form has been updated and is now the “RSMP Feasibility Determination Request Form”. Once submitted, RSMP staff will determine if a feasibility meeting will be scheduled or if on-site detention is required.
You can visit the City of Austin’s website for more details and information.
Don’t navigate these complicated rate structure changes alone. Contact WGI to speak with our Austin-based Stormwater and site development experts today. We’ll help you make sense of the changes and how they may affect your development projects in Austin.
WGI is a national design and professional services firm leading in technology-based solutions for the construction of public infrastructure and real estate development. At WGI, we’re providing Tomorrow’s Infrastructure Solutions Today.
By Marissa Luck – Staff Writer, Austin Business Journal Click Here To Read The Original Article Yet another sky-scraping change is coming to the Rainey
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By Matthew Prendergast, KXAN Click here to see the original story A 51-story condominium tower is being planned for construction in the Rainey Street district
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