TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Approve the Consolidation, Amendment, and Reconciliation of Lewis Companies Construction Credit Reimbursement Agreements for Circulation Development Impact Fees (DIF).
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RECOMMENDATION
recommendation
1) Approve the First Amendment to Contract No. 2025-167, the Construction Credit and Reimbursement Agreement for The Preserve Circulation (Streets, Signals and Bridges) Development Impact Fee Program for projects constructed between 2004 and 2019, in the amount of $2,944,627.25, for a revised total contract amount not to exceed $38,076,155.62, between the City of Chino and Chino Development Corporation, a California corporation, and Chino Preserve Development Corporation, a California corporation; 2) accept the updated Circulation DIF Credit and Reimbursement Reconciliation for project-specific development projects in the amount of $10,720,544.70 through May 31, 2025; and 3) 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 to the City.
Staff will conduct an annual reconciliation of Development Impact Fee (DIF) credits and will return to the City Council annually with an updated audit and reconciliation until the 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 DIF Program. Such improvements may only be recognized as DIF credits to the extent permitted under the applicable agreements and in a manner consistent with the City's 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 ...
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