TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Water Source, Storage and Distribution Development Impact Fee ("Water DIF") Credit Reconciliation Through May 31, 2025, for Various Preserve Development Projects.
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RECOMMENDATION
Approve the Water Source, Storage and Distribution Development Impact Fee ("Water DIF") Credit Reconciliation through May 31, 2025, for various Preserve development projects in the amount of $29,712,190.54 and authorize the City Manager to execute all the necessary documents on behalf of the City.
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FISCAL IMPACT
There is no direct fiscal impact on the City.
Staff will continue to conduct annual reconciliations of Water DIF credits and reimbursements and will return to the City Council periodically with updated reconciliations until all outstanding obligations and balances under the applicable agreements have been fully resolved.
Public improvements financed through Community Facilities District No. 2003-3 are not eligible for cash reimbursement under the City's Development Impact Fee Program. Such improvements may only be recognized as Water DIF credits to the extent permitted under the applicable agreements and consistent with the City's Water DIF Program requirements.
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:
* Financial Stability
* Responsible Long-Range Planning
* Public Service Excellence through Internal and External Partnership
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Expenditure:
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BACKGROUND
Before the City Council for consideration is a Water Source, Storage and Distribution Development Impact Fee ("Water DIF") Credit and Reimbursement Reconciliation associated with variou...
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