For City Council Meeting [August 9, 2022]
TO: Honorable Mayor and City Council
APPROVAL: Marcus Fuller, City Manager
FROM: Marcus Fuller, Acting City Engineer
Title
Request City Council to (1) Adopt Resolution No. 7957 Approving a Construction Fee Credit and Reimbursement Agreement by and between the City of Rialto and Rialto Apartments, LLC, a California Limited Liability Company; and (2) Adopt Budget Resolution No. 7858 Amending the Fiscal Year 2022/2023 Budget; and (3) Authorize the City Manager to Execute All Documents.
(ACTION)
Body
BACKGROUND:
Frontier Enterprises, under its project specific business entity formed as Rialto Apartments, LLC, a California limited liability company, (hereinafter the "Developer"), submitted various planning and development applications to the City and proposes to construct a 204-unit apartment complex including a 3,210-square foot leasing office and clubhouse building, with a recreational pool and barbeque area for residential use on 8.02 acres of land (APNs: 0133-171-07, -08, -09, and -31) located at 534 E Foothill Boulevard, (the "Project") (see map included as Attachment 1).
On January 26, 2022, the Planning Commission approved Precise Plan of Design No. 2021-0045 (PPD 2021-0045), which established Conditions of Approval for the Project. The Conditions of Approval for the Project require the Developer to construct specified off-site improvements ("Off-Site Improvements") including but not limited to widening the Foothill Boulevard frontage ("Roadway Widening"), construction of a raised and landscaped median ("Median Work"), and installation of a traffic signal at the easterly driveway aligned with the existing entrance to the State Bros. Shopping Center ("Traffic Signal Work").
The Roadway Widening and Median Work are both eligible for reimbursement through a Construction Fee Credit and Reimbursement Agreement pursuant to the provisions of Section 3.33.100 of the Rialto Municipal Code (Fee Credits), that states:
...
Click here for full text