For City Council Meeting [June 26, 2018]
TO: Honorable Mayor and City Council
APPROVAL: Robb Steel, Interim City Administrator
Title
Request City Council to (1) Adopt Resolution No. 7365 Approving a Construction and Credit Agreement by and between the City of Rialto and Pegasus LH, LLC.
(ACTION)
Body
BACKGROUND:
Pegasus LH ("Developer") proposes to develop a 88,790 square foot distribution facility on a 4.78 acre parcel (PPD2017-0100) generally located at the northwest corner of Riverside Avenue and Kline Ranch Road (the "Project"). On May 23, 2018, the Development Review Committee approved Conditions of Approval for the Project. The Conditions of Approval require the Developer to construct specified off-site improvements ("Off-Site Improvements") including but not limited to:
1. Grade and stake the Riverside Avenue frontage encompassing 5,700 square feet.
2. Construct approximately 415 lineal feet of new curb and gutter improvements along the Riverside Avenue frontage of the Property, including demolition and removal of existing improvements.
3. Construct approximately 1,785 square feet of sidewalk improvements along Riverside Avenue within the parkway.
4. Apply 3,890 square feet of 3.5" hot asphalt material and 16,470 square feet of 10' grind and overlay. Apply tack coat and install finish course to about 20,360 square feet.
5. Rework conduit for Edison streetlight.
Section 3.33.100 of the Rialto Municipal Code (Fee Credits) states that:
...if as a condition of approval of a development project a Developer constructs a public facility identified in a Nexus Report for which a development impact fee is imposed, then the Developer shall be eligible to receive a fee credit toward the development impact fee imposed on the development project for the same type of public facility so constructed. The Developer shall not be entitled to reimbursement for any excess in the costs to construct the public facility over the amount of the Developer's obligat...
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