TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Approve a Reimbursement and Credit Reconciliation for Sewer Development Impact Fee (DIF) Construction Credit Reimbursement Agreements with various Lewis Companies.
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RECOMMENDATION
1) Approve a reimbursement to Chino Development Corporation in the amount of $800,000 from Sewer Development Impact Fee (DIF) Fund 262 for eligible costs associated with The Preserve/Prado Sewer Lift Station, Force Main, and Gravity Line project; 2) approve the Sewer DIF Credit Reconciliation through May 31, 2025, for various development within The Preserve; and 3) authorize the City Manager to execute all documents necessary on behalf of the City.
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FISCAL IMPACT
The $800,000 reimbursement is funded entirely by Sewer DIF Fund 262 and will have no impact on the General Fund. There is sufficient Fund Balance for the reimbursement.
Staff will continue to conduct annual reconciliations of the Sewer 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 Sewer DIF credits to the extent permitted under the applicable agreements and consistent with the City’s Sewer 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
Revenue: Click or tap here to enter text.
Expenditure: 2627005-436...
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