Agenda Item Wording:
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Developer Reimbursement Agreement - Authorize the City Manager to execute a reimbursement agreement for improvements constructed with the Greystone Phase 3 Subdivision located at the northeast corner of Akers St and Sedona Ave.
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Deadline for Action: 3/17/2025
Submitting Department: Community Development
Contact Name and Phone Number: Luqman Ragabi, Associate Engineer - (559)713-4271, Luqman.ragabi@visalia.city
Adrian Rubalcaba, Senior Project Manager - (559)713-4507, Adrian.rubalcaba@visalia.city
Jason Huckleberry, Director of Eng & Building, (559)713-4495, jason.huckleberry@visalia.city
Department Recommendation:
Staff recommends authorizing the City Manager to execute the reimbursement agreement with Presidio JJR Greystone ll 63, LL (Developer) in the amount of $275,139.04 for improvements constructed along Akers Street and dedications to riparian setbacks associated with the Greystone Phase 3 subdivision.
Background Discussion:
The final map for the Greystone Phase 3 Subdivision involves the subdivision of a 19.11-acre site into 63 single-family lots, along with five outlots (A through E). These outlots are designated for purposes such as street frontage landscaping, a pocket park, and a section of the Modoc Ditch Trail.
As part of the Subdivision Improvement Agreement, arterial roadway improvements were required along the project frontage. Akers Street is identified as a funded arterial in the City's Circulation Element and Transportation Impact Fee Program. Consequently, portions of the required improvements along Akers Street are eligible for reimbursement under the City's impact fee program.
Additionally, the development required land dedication along the Modoc Ditch Channel for trail purposes and riparian setbacks. This area dedicated is eligible for reimbursement under the Waterways Acquisitions Fund program.
The total amount to be reimbursed to the developer is $275,139.04...
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