Title:
Title
Greenbriar Pavement Overwidth Reimbursement Agreement [Published for 10-Day Review 04/01/2021]
End
FileID
File ID: 2020-01512
Location
Location: Greenbriar/Northlake Community, District 1
End
Recommendation:
Recommendation
Pass a Motion approving a reimbursement agreement to provide $3,435,086 in construction excise tax credits for pavement overwidth to Greenbriar development.
FileName
Contact: Lucinda Willcox, Program Manager, (916) 808-5052; Ryan Moore, Director of Public Works, (916) 808-6629, Department of Public Works
Body
Presenter: None.
Attachments:
1-Description/Analysis
2-Overwidth Reimbursement Agreement
3-Greenbriar Roadway Map
4-Excerpt from Greenbriar Finance Plan
Description/Analysis
Issue Detail: On May 30, 2017, the City Council adopted the Greenbriar Project (now known as Northlake) and related documents, including the Development Agreement and Finance Plan. This project encompasses 577 acres, 2,956 housing units and other non-residential and public uses.
The North Natomas Finance Plan (NNFP), adopted in 1995, defined an "Overwidth Reimbursement Program," whereby developers were reimbursed for construction costs for that portion of roadways exceeding two lanes. This program was specifically defined in the NNFP but was never adopted as a citywide program. The overwidth program was funded through the Overwidth Capital Improvement Program (CIP), whereby the City dedicated funding as part of the annual budget into this program from the Major Street Construction Fund (Fund 2007) based on funding available after other City needs were met. Revenues from this fund derive from a Construction Excise Tax that is collected on all new development citywide as prescribed in Chapter 3.36 of the City Code. Note that the Construction Excise Tax is a general tax enacted in 1978, not a development impact fee. As it applied to the building valuation tables published by the International Conferences of Building Officials, which w...
Click here for full text