HomeMy WebLinkAbout2011-11-08 - AGENDA REPORTS - EASTSIDE B&T (2)CONSENT CALENDAR
DATE:
SUBJECT:
DEPARTMENT
Agenda Item: 4
CITY OF SANTA CLARITA
AGENDA REPORT
City Manager Approval
Item to be presented by:
November 8, 2011
Andrew Yi
APPROPRIATE FUNDS FOR EASTSIDE BRIDGE AND
THOROUGHFARE DISTRICT REIMBURSEMENT
Public Works
RECOMMENDED ACTION
1. City Council appropriate $250,000 from the Eastside Bridge and Thoroughfare District
(Eastside District) Fund Balance (30 1) to Account 14404-5201.010 for payment to the
developer for partial reimbursement of the costs to complete public improvement projects
within the Eastside District at the intersection of Sierra Highway and American Beauty Drive.
2. Approve future appropriation of $243,696 from the Eastside District fund balance for
payment to same developer for the remainder of the reimbursement when funds are available
in the Eastside District.
BACKGROUND
The Bridge and Thoroughfare Districts (District) were formed to provide funding for the
construction of road -related improvements within the General Plan's Circulation Element and
identified in the formation and updated documents for each District. The District reports contain
provisions for the reimbursement to developers for the costs incurred to construct the District's
identified improvements.
The Eastside District was adopted by the City Council on March 26, 2002. The formation of the
District includes provisions obligating the City to provide reimbursement in cash or credit for the
costs incurred to construct the Eastside District's identified improvements. The developer,
Williams Homes, is requesting the City reimburse the costs of constructing roadway -related
improvements at the intersection of Sierra Highway and American Beauty Drive associated with
Tract 60536. This work has been completed by the developer and accepted by the City and
qualifies as a District improvement. The total amount requested by the developer is $493,696.
Attached is the Williams Homes B&T Reimbursement Request dated October 15, 2010.
The current uncommitted cash balance of the Eastside District is $250,000; therefore, the
reimbursement request is being limited to $250,000 at the present time. The remaining
reimbursement of $243,696 will not. occur until sufficient uncommitted funds are available in the
Eastside District.
ALTERNATIVE ACTIONS
Other action as determined by the City Council.
FISCAL IMPACT
The current uncommitted cash balance of the Eastside District's account is $250,000. The
requested appropriation of $250,000 from the Eastside District fund balance to Account
14404-5201.010 will provide a partial reimbursement. The remaining reimbursement of
$243,696 will not occur until sufficient uncommitted funds are available in the Eastside District.
ATTACHMENTS
Williams Homes B&T Reimbursement Request dated October 15, 2010
IN
District Percentages:
Valencia
Bouquet Canyon
Eastside
Castaic
Via Princessa
Lyons Avenue/McBean Parkway
Area Identification:
Unk#(s): .
Project Description:
Eastside Bridge and Major Thoroughfare
Construction Fee District Report Update
BRIDGE & MAJOR THOROUGHFARE DISTRICT
CASH/CREDIT REQUEST FORM
Intersection #(s):
Amount:
$
❑ Cash
❑
Credit
Amount!
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Amount:
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Interchange #(s):'
ATTACHMENTS Yes No Not
ilca6le
S nature Page
Project Acceptance Letter
Site Location Ma
Contract & Change Orders
Credit Summary
Expense Summary
Cancelled Checks & Supporting Documentation
Additional Documentation
Plans
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FOR CITY OR COUNTY USE ONLY
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County of Los Angeles ♦ E-2
City of Santa Clarita
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