For City Council Meeting [July 23, 2019]
TO: Honorable Mayor and City Council
APPROVAL: Rod Foster, City Administrator
FROM: Robb Steel, Assistant CA/Development Services Director
Title
Request City Council to Approve the First Amendment to the Construction Fee Credit and Reimbursement Agreement by and between the City of Rialto and Sirwin Enterprises LLC.
(ACTION)
Body
BACKGROUND:
On April 9, 2019, the City Council approved a Construction Fee Credit and Reimbursement Agreement ("Agreement") by and between the City of Rialto and Sirwin Enterprises LLC ("Developer") related to off-site improvements for a proposed retail center at the southwest corner of Ayala Drive and Casmalia Street (the "Project") (see map attached as Exhibit A and Project Site Plan as Exhibit B).
The off-site improvements are as follows:
(i) Widening and reconstructing the existing roadways along the Project's frontages on the north and south side of the centerline of Casmalia Street; and,
(ii) Modifying the traffic signal at Casmalia Street and Ayala Drive.
The Project owes an estimated $189,072 in Regional Traffic Development Impact Fees and $32,680 in RSP Traffic Development Impact Fees. The estimated widening cost for the eligible Regional Traffic Fee improvements is $403,861 and the traffic signal modification for the eligible RSP Traffic Fee is $31,500.
The Agreement provided the Developer a credit of $189,072 in Regional Traffic Fee and $31,500 in RSP Traffic Fee. The Agreement also reimburses the Developer $214,789 for excess street widening costs from the Regional Traffic Fee ("Cost Reimbursement"). The Developer covers the traffic signal modification cost difference of $1,180.
The Agreement is attached hereto as Exhibit C.
The table below summarizes the off-site Improvement costs, estimated fee credits, and potential reimbursements:
ANALYSIS/DISCUSSION:
The Project requires the Developer to pay $164,000 as fair share fees ("Fair Share Fee") to cover portio...
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