HomeMy WebLinkAbout2002-08-27 - AGENDA REPORTS - VALENCIA B&T DIST REIMBURSEMNT (2)CITY OF SANTA CLARITA
AGENDA REPORT
CONSENT CALENDAR City Manager Approva
Item to be presented by: Curtis L. Na
DATE: August 27, 2002
SUBJECT: APPROPRIATE FUNDS FOR VALENCIA BRIDGE AND
THOROUGHFARE DISTRICT REIMBURSEMENT
DEPARTMENT: Transportation & Engineering Services
RECOMMENDED ACTION
City Council appropriate $1,886,537.19 to Account No. 4364-8001 from the Valencia Bridge and
Thoroughfare District fund for payment to Newhall Land for reimbursement of the costs to
complete public improvement projects within the District.
BACKGROUND
The Valencia Bridge and Thoroughfare District (District) was formed to provide funding for the
construction of road improvements that are a part of the General Plan's Circulation Element
and identified in the District formation document. The District includes territory within the
City of Santa Clarita and the County of Los Angeles. The District was adopted and amended
by the City Council on January 12, 1999 and September 28, 1999, respectively, and approved
by the County Board of Supervisors on July 27, 1999.
The formation documents of the District include provisions obligating the City to provide
reimbursement or credit for the costs incurred to construct the District's identified
improvements.
Newhall Land has requested that the City reimburse the costs of constructing roadway
improvements within the City at the following locations along Newhall Ranch Road:
(1) McBean Parkway to Hillsborough Parkway, (2) Hillsborough Parkway to Bouquet
Canyon Road, and (3) at the intersection of Bouquet Canyon Road. This work has been
completed by the developer and accepted by the City, and qualifies as District improvements.
The attached letter dated June 3, 2002 from the County to the City attests that the supporting
documentation has been reviewed and that Newhall Land is entitled to be reimbursed for this
eligible District improvement work.
As additional background, the City Council authorized a prior payment of approximately
$2.96 million from the Valencia Bridge and Thoroughfare District in 2001. This District
idisbursement represented 75 percent of the estimated cost associated with this work. This
appropriation represents the remaining reimbursement owed to Newhall Land for completed
District improvements accepted by the City.
Agenda Item: �
Gatti' WUU U
APPROPRIATE FUNDS FOR VALENCIA BRIDGE AND
THOROUGHFARE DISTRICT REIMBURSEMENT
August 27, 2002 — Page 2
The current balance of the District's account is approximately $13,092,920.00. Should the City
Council approve this reimbursement request, the Valencia Bridge and Thoroughfare District
will retain a remaining balance of $11,206,383.00. This amount is sufficient for the anticipated
future needs identified for funding via the Valencia Bridge and Thoroughfare District.
ALTERNATIVE ACTION
Other action as determined by the City Council.
FISCAL IMPACT
The District has a current balance of approximately $13,092,920.00. The payment to Newhall
Land of $1,886,537.19 will leave a remaining balance of $11,206,383.00.
ATTACHMENT
County of Los Angeles Letter dated June 3, 2002
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Jul -11-02 09:57A N F Purchasing Dept 661 255 4296
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JAMES A. NOYES, Olreclar
June 3, 2002
COUNTY OF LOS ANGELES
DEPARTMENT OF PUBLIC WORKS
9W SOU771 I'RGM(srr AVbNUK'
ALHAMBRA, CALIFORNIA 91803-1331
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www.ladpw.org
Mr. Robert Newman
City Engineer
City of Santa Clarita
23920 Valencia Boulevard, Suite 300
Santa Clarita, CA 91355
Attention Mr. Curtis Nay
Dear Mr. Newman
P.02
RECEIVED
JU'V 17 2002
ORERAT1QIVS
AI1rrRESS ALL CORRESYONUENCR TO:
P.O. BOX 1460
ALHAMRRA, CALIFORNIA 91802-1460
VALENCIA BRIDGE AND MAJOR THOROUGHFARE
CONSTRUCTION FEE DISTRICT - REIMBURSEMENT REQUEST
FOR DISTRICT PROJECTS ON NEWHALL RANCH ROAD
IN REPLY PLEASE.
REFER TO FILE: LD -4
We received three cash reimbursement request packets from Newhall Land Company
(NL) for district projects completed on Newhall Ranch Road within your City. The City
reimbursed 75 percent of the estimated project cost for those projects in June 2001 as
part of the "Bridgeport 75 percent' packet. Please see enclosed NL letter and packets.
We reviewed the supporting documentation and determined that NL is entitled to a
remaining balance of $1,886,537.19 for the work completed. The enclosed chart
shows a comparison of the actual project costs to the District Report estimates. We
request that you reimburse the requested amount to NL from your Valencia Bridge and
Major Thoroughfare Construction Fee District Fund.
Jul -11-02 12:29P -N L F Purchasing Dept 661 255 4296 P.03
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