HomeMy WebLinkAbout2011-08-23 - AGENDA REPORTS - MC 01 038 VALLE DI OROAgenda Item: - L' .
CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR City Manager Approval:
Item to be presented by: Ruben Barrera
DATE: August 23, 2011
SUBJECT: ACCEPTANCE OF IN -LIEU FEES FOR MASTER CASE 01-038,
TRACT 53419 (VALLE DI ORO) OFFSITE STREET
IMPROVEMENTS
DEPARTMENT: Public Works
RECOMMENDED ACTION
1. City Council approve the acceptance of in -lieu fees for the offsite street improvements for
Master Case 01-038, Tract 53419 (Valle di Oro).
2. Authorize the City Manager or designee to enter into an agreement with the project
developer, subject to City Attorney approval.
BACKGROUND
Master Case 01-038, Tract 53419 Valle di Oro was approved by the Planning Commission on
June 19, 2001. The project's Conditions of Approval required the installation of street
improvements along portions of Sierra Highway and at the intersection of Sierra Highway and
Golden Valley Road. The street improvements include the installation of a right -turn pocket on.
southbound Sierra Highway, bus stop with shelter, landscaped median, sidewalk, signing and
striping, signal modification, and a pedestrian bridge over Sierra Highway.
The original developer, Trimark Pacific, was foreclosed on and the partially constructed project
is in the possession of axeceiver, Wald Realty Advisors. The project is currently on hold until a
buyer is secured. Wald Realty Advisors sent a letter dated June 27, 2011, formally requesting the
City accept in -lieu fees and enter into an agreement for the remaining offsite street improvements
to allow the new owner/developer to proceed with the build -out of the project unencumbered by
the offsite improvement obligations. This request will help facilitate a quicker sale of the project,
resulting in the project being completed. The in -lieu fees will be utilized by the City to construct
the remaining offsite street improvements. Upon completion of the agreement and receipt of the
monies, staff will begin the construction process and the owner/developer will have satisfied the
Conditions of Approval for the offsite improvements.
D
The remaining offsite street improvements are estimated to cost $1,827,000. This estimate was
prepared by staff and based on current construction unit costs, review of the approved street
plans, a field survey to determine the remaining items, discussions with Southern California
Edison with regard to the pole relocation, and discussions with Caltrans regarding permit and
plan requirements. A higher than normal contingency was built into the cost estimate. This was
to account for any increase in cost associated with updating the previously approved street plans
to current Caltrans standards and ensure adequate funding is received to complete the project.
The cost estimate (see attachment) is only valid through June 30, 2012. In the event the in -lieu
fees are paid after that date, the construction estimate will be revised to use the current
construction cost at the time of payment, and the revised amount shall be paid.
ALTERNATIVE ACTIONS
Other action as determined by the City Council.
FISCAL IMPACT
Wald Realty Advisors paid $5,000 to the City to cover staff time spent preparing the itemized
cost estimate for the remaining offsite street improvements.
The owner/developer will have the option to pay in -lieu fees for the offsite street improvements
required as part of the Conditions of Approval for Master Case 01-038. Currently, the in -lieu
fees are estimated to cost $1,827,000, and this estimate is valid through June 30, 2012.
ATTACHMENTS
Wald Realty Advisor's Letter Dated June 27, 2011
Cost Estimate
Location Map
Q
By: Overnight Mail
June 27, 2011
Robert Newman
Director of Public Works
City of Santa Clarita
23920 Valencia Boulevard, Suite 300
Santa Clarita, CA 91355
Re: Valle De Oro - Master Case No. 01-038
Sub: Deposit for Cost Estimate
Pedestrian Bridge/Sierra Highway Improvements
Dear Mr. Newman:
WALD REALTY ADVISORS
Pursuant to your e-mail request of June 9, 2011 (copy attached), please find attached a check in the amount of
$5,000 made payable to the City of Santa Clarita.
Per your e-mail, these funds are to be used by the City of Santa Clarita to pay for City staff time related to die
preparation of comprehensive estimates for the permitting and construction of the pedestrian bridge and the
other unfinished improvements on and along Sierra Highway in the Caltrans right of way that are required in
conjunction with this project. The goal of this cost estimate work is to facilitate an agreement whereby the
City would assume the obligation for this offsite improvement work in exchange for a lump sum payment.
This would allow the owner/developer of the property to proceed with the build -out of the remainder of the
project unencumbered by this offsite improvement obligation. We realize that this agreement is subject to
City Council approval.
Thank you again for your continuing assistance in this matter. If you have any questions, please feel free to
contact either Glenn Adamick at 661-255-3275, John Gebhardt of my office at 310-422-4644 or me.
RECEIVED
JUN 2 9 2011
Development Services
City of Santa Clarita
cc: Glenn Adamick - JSB Development
John Gebhardt — Wald Realty Advisors
Christina Rice — Wald Realty Advisors
WALD REALTY ADVISORS, INC., 775 WILDOMAR STREET, PACIFIC PALISADES, CALIFORNIA 90272
310.230.3400 TEL 1 310,230,3401 FAX I www.waldrealtyadvisors.com
JUN 2 s 2011
Tract 53419 Sierra Highway Street Improvements Cost Estimate
City of Santa Clarita
1 1 Median, Right Turn Pocket, and Right -of -Way Improvements $429,400.00
2 Storm Drain Construction $20,900.00
3 Landscaping Median and Parkway $40,100.00
4 Signal Modification $134,100.00
5 Signing and Striping $45,500.00
6 Pedestrian Bridge Improvements $560,000.00
7 lBus Shelter .$20,000.00
8 Caltrans Permit Fee and Plan Modification $10,000.00
Subtotal 1, 260, 000.00
Contingency (25%) 315,000.00
Project Management/Admin Fee (20%) 252,000.00
TOTAL 1,827,000.00