Agenda Item Wording:
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Developer Reimbursement Agreement - Authorize the City Manager to execute a reimbursement agreement for improvements to Pinkham Street and K Avenue as constructed with the Vista Del Sol Subdivision located at the southeast corner of K Avenue and Pinkham Street.
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Deadline for Action: 12/16/2024
Submitting Department: Community Development
Contact Name and Phone Number:
Luqman Ragabi, Associate Engineer, Luqman.ragabi@visalia.city <mailto:Luqman.ragabi@visalia.city>, (559)713-4362
Jason Huckleberry, Director of Eng & Building, jason.huckleberry@visalia.city <mailto:jason.huckleberry@visalia.city> , (559) 713-4495
Department Recommendation:
Staff recommends authorizing the City Manager to execute the reimbursement agreement with Presidio JJR Vista Del Sol 95, LL (Developer) in the amount of $228,718.28 for improvements constructed along K Avenue and Pinkham Street associated with the Vista Del Sol subdivision.
Background Discussion:
The Vista Del Sol project subdivided a 22.33-acre site into a 95-lot single family subdivision with six Out Lots (Lots A, and C through F) for street frontage landscaping, a pocket park, and a pedestrian connection for Monte Verde Court. As a requirement of the project, frontage improvements to K Avenue and Pinkham Street consisting of grading, paving, storm drain, and placement of conduit for a future traffic signal. The total amount to be reimbursed to the Developer is $228,718.28.
Both K Avenue and Pinkham Street are collector roadways funded through the Transportation Impact Fee program. Consequently, portions of the required public improvements on Pinkham Street and K Avenue are eligible for reimbursement under the City’s impact fee program.
On November 13, 2024, the reimbursement agreement for the Vista Del Sol subdivision was reviewed and recommended for approval by the Development Reimbursement Review Committee (DRRC). The DRRC is comprised of staff from the Community Development and Finance Departments. The DRRC reviewed the reimbursement to ensure that the costs are reasonable compared to the City’s costs for comparable capital projects.
Fiscal Impact:
A cash reimbursement totaling $228,718.28 will be made to the Developer as follows:
• Transportation Impact Fee Fund (241) $212,249.62
• Storm Drain Impact Fund (CP9229) $16,468.66
The Vista Del Sol subdivision consists of 95 residential lots, contributing a total of $674,500 in transportation impact fees as assessed with the building permit process.
Prior Council Action: Council accepted the final map for the Vista Del Sol subdivision at their meeting held on February 2, 2022.
Council accepted the Notice of Completion for the Vista Del Sol Subdivision at their meeting held on December 19, 2022.
Other: On November 13, 2024 the Development Reimbursement Review Committee reviewed and recommended approval of the reimbursement agreement for the Vista Del Sol subdivision.
Alternatives: None
Recommended Motion (and Alternative Motions if expected):
recommendation
I move to authorize the City Manager to execute the reimbursement agreement for improvements completed by the Vista Del Sol subdivision.
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Environmental Assessment Status: N/A
CEQA Review: N/A
Attachments:
1. Location Map
2. Reimbursement Agreement