Title:
Title
Delta Shores - Agreements with M&H Realty Partners VI, L.P for Acquisition, Reimbursement and Credits for Construction of Infrastructure (Two-Thirds Vote Required) [Published for 10-Day Review 08/13/2020]
End
FileID
File ID: 2020-00641
Location
Location: Districts 7 and 8
End
Recommendation:
Recommendation
1) Pass a Motion: a) determining that it is in the City's best interests to suspend competitive-bidding for the "Acquisition, Reimbursement, and Credit Agreement for Construction of Delta Shores Public Infrastructure" between the City and M&H Realty Partners VI, L.P., under which the City will acquire public improvements financed through the Delta Shores Impact Fee Program; and b) authorizing the City Manager or the City Manager's designee to sign and deliver that agreement on the City's behalf; and 2) adopt a Resolution a) approving standard-form: i) "Reimbursement-and-Credit Agreement for Delta Shores Infrastructure"; and ii) "Delta Shores Fee Credits Certificate of Assignment"; and b) authorizing the City Manager or the City Manager's designees to sign and deliver the standard-forms for specific projects within the area covered by the Delta Shores Planned Unit Development Area upon approval as to legal form by the City Attorney's Office.
FileName
Contact: Arwen Wacht, Program Specialist, (916) 808-7535; Sheri Smith, Special Districts Manager, (916) 808-7204, Department of Finance
Body
Presenter: None
Attachments:
1-Description/Analysis
2-Acquisition, Reimbursement, and Credit Agreement for Construction of Delta Shores Public Infrastructure
3-Resolution
4-Exhibit A (Reimbursement-and-Credit Agreement for Delta Shores Infrastructure)
5-Exhibit B (Delta Shores Fee Credits Certificate of Assignment)
Description/Analysis
Issue Detail: On September 24, 2019, the City Council approved the updated Delta Shores Finance Plan (the Finance Plan) and established the associated Delta Shores Impact Fee (DSIF). Property owners and dev...
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