Title:
Title
Reimbursement of Engineering and Soft Costs for the Willowcreek Fee District
End
FileID
File ID: 2019-00513
Location
Location: District 4
Recommendation:
Recommendation
Adopt a Resolution: 1) increasing the expenditure budget in the Willowcreek Fee Project (I22206000) by $290,000 with a transfer from available fund balance in the Willowcreek Fee Fund (Fund 3008); and 2) authorizing the City Manager or City Manager's designee to reimburse the engineer and landowners as reflected on Exhibit A, or their verified successors in interest.
Contact: Eric Frederick, Program Specialist, (916) 808-5129; Sheri Smith, Special Districts Manager, (916) 808-7204, Department of Finance
Body
Presenter: None.
Attachments:
1-Description/Analysis
2-Resolution
3-Exhibit A Reimbursement Amounts
Description/Analysis
Issue Detail: On May 13, 1997, the City Council adopted Resolutions No. 97-227 and 97-228 and Ordinance No. 97-027, thereby forming the Willowcreek Fee District, adopting the Willowcreek Financing Plan/Nexus Study (Original Finance Plan), and establishing the Willowcreek Fee (Fee). Subsequent to its adoption, several construction cost items were added to the facilities program and adjustments were made to certain land use assumptions used in the Original Finance Plan. To account for these revisions, the City Council adopted Resolution No. 97-576 on October 14, 1997, thereby adopting the Amended Final Willowcreek Financing Plan/Nexus Study (Amended Finance Plan) and establishing revised Fee amounts. The Amended Finance Plan added certain emergency access costs, roadway improvement costs, utility undergrounding costs, utility relocation tax costs, and developer project management costs that were not included in the Original Finance Plan.
Fee revenue that is collected by the City is to be distributed to various fund components based on cost percentages outlined in the Amended Finance Plan. Specifically, 6.9% of Willowcreek Fees collected ar...
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