TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Majestic Chino Flight, LLC - Vesting Parcel Map. No. 20561, Subdivision Improvement Agreement and Development Impact Fee Construction Credit/Reimbursement Agreement.
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RECOMMENDATION
1) Approve Vesting Parcel Map No. 20561; 2) approve the Subdivision Improvement Agreement with Majestic Chino Flight, LLC, a Delaware limited liability company; 3) approve the Development Impact Fee Construction Credit/Reimbursement Agreement with Majestic Chino Flight, LLC a Delaware limited liability company for the construction of master-planned facilities associated with Vesting Parcel Map No. 20561; and 4) authorize the City Manager to execute all necessary documents on behalf of the City.
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FISCAL IMPACT
Credits issued to the developer will be deducted from the actual eligible project costs once the final cost accounting has been reviewed and approved by the City Engineer and Public Works team. Upon the final acceptance of the public improvements by the City Council, staff will continue to monitor the fund balance in the appropriate Development Impact Fee Fund and begin making progress payments to the developer until the terms of the agreement are fulfilled. Each progress payment will require an appropriation of funds and therefore, each payment will be brought back to the City Council for approval.
CITY OF CHINO MISSION / VISION / VALUES / STRATEGIC ISSUES
The recommendation detailed above further the City's values and strategic issues that serve as key pillars on which identified priorities, goals, and action plans are built, by fostering:
* Positive City Image
* Responsible Long-Range Planning
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Expenditure:
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BACKGROUND
Majestic Chino Flight, LLC ("Developer") has a long-term lease with the County of San Bernardino ("County") to develo...
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