TO: LINDA REICH, CITY MANAGER
FROM: HYE JIN LEE, PE, DIRECTOR OF PUBLIC WORKS
SUBJECT
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Approve the Consolidation, Amendment, and Reconciliation of Lewis Companies Construction Credit Reimbursement Agreements for Storm Drain Development Impact Fees (DIF).
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RECOMMENDATION
1) Approve the First Amendment to Contract No. 2024-235, the Construction Credit and Reimbursement Agreement for Line F, increasing the agreement amount by $4,184,847.86 for a revised total contract amount not to exceed $10,669,969.97, between the City of Chino, Chino Development Corporation, a California corporation, and Chino Preserve Development Corporation, a California corporation; 2) accept the updated Storm Drain DIF Credit and Reimbursement Reconciliation for project-specific development projects in the amount of $37,359,059.65 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 on the City.
Staff will continue to conduct annual reconciliations of Storm Drain 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 Storm Drain DIF credits to the extent permitted under the applicable agreements and consistent with the City's Storm Drain 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 Int...
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