Sunbeam Development Corporation owns what is known as USA Parkway, south of 116th Street near I-69 Exit 5.  That stretch of roadway will soon get a makeover to the tune of $840,000 from Sunbeam.

The city will takeover the street around April 1st of this year, with the construction expected to be completed around this time next year.  Sunbeam is giving up the road and agreeing to the construction costs in exchange for impact fee credits, which would lower their impact fee bill to the city for future projects.  The credits begin to lose value on a sliding scale after 5 years.

This item was a last-minute agenda addition for the Fishers City Board of Works and Safety.  The measure was approved by the board.  Mayor Scott Fadness said this is part of the IKEA transaction.  The furniture retailer is scheduled to open a store in that area in less than 2 years.  The city is committed to provide roadway infrastructure before the scheduled opening to avoid paying IKEA an economic development incentive fee.