HomeMy WebLinkAbout2001-04-24 - AGENDA REPORTS - VAL INDUST CENTER TRAFFIC (2)CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR
DATE: April 24, 2001
City Manager Approva
Item to be presented
SUBJECT: ESTABLISH BUDGET OF VALENCIA INDUSTRIAL CENTER TRAFFIC
SIGNAL IMPROVEMENTS, INTEGRATED FINANCING ASSESSMENT
DISTRICT NO. 92-5
DEPARTMENT: Transportation & Engineering Services
RECOMMENDED ACTION
City Council appropriate $102,625.00 from the Integrated Financing District No. 92-5 fund
balance to Account No. 4356-8001 for reimbursement of installation costs of the Avenue Scott
and Avenue Tibbetts traffic signal.
BACKGROUND
This project is consistent with the Integrated Financing Assessment District No. 92-5 that was
approved in July 1993. The Assessment District established areas of benefit to assess fees for
the placement of three (3) traffic signals at specified locations in the Valencia Industrial Center
area.
The District provides funds for traffic signal installation (materials, labor, engineering, and
administration) and includes a benefit area of 19 parcels on 148.8 acres. Traffic impact fees
assessed through this District will be used to pay for the construction of traffic signals at the
following three intersections: (1) Avenue Scott and Rye Canyon Road; (2) Avenue Scott and
Avenue Tibbetts; and (3) one intersection to be determined later.
The subject traffic signal, located at the intersection of Avenue Scott and Avenue Tibbetts, has
been completed by the developer, the Newhall Land and Farming Company. The amount to
be reimbursed is $102,625.00, which includes the soft -cost and administration/management fee.
ALTERNATIVE ACTION
Other action as determined by the City Council.
Agenda Item : (0,
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ESTABLISH BUDGET OF VALENCIA INDUSTRIAL CENTER TRAFFIC SIGNAL
IMPROVEMENTS, INTEGRATED FINANCING ASSESSMENT DISTRICT NO. 92-5
April 24, 2001— Page 2
FISCAL IMPACT
The Valencia Industrial Center Traffic Signal District No. 92-5 currently has a fund balance
of $191,347.00. This action will result in a remaining fund balance of $88,722.00. This amount,
along with fees to be collected, is expected to cover the cost of the remaining two signals.
ATTACHMENTS
None.
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