AUTHORIZE EXPENDITURES OF FUNDS IN EXCESS OF $500,000 FOR REVENUE COLLECTION BASED PAYMENTS MADE UNDER DEVELOPMENT AGREEMENTS AND AUTHORIZE REQUIRED BUDGET TRANSFERS FY2019 PROPOSED ACTION: Authorize the FY2019 expenditures of funds in excess of $500,000 that are contractually based on actual revenue collection and any FY19 budget transfers needed to pay based on the revenues collected as follows: Newland Real Estate Group LLC: 100% of Parks - South Impact Fees for Foothills Park reimbursement 100% of Water - South Impact Fees for Rainbow Valley Campus and Booster Station, Northern Solutions, and Surface Water projects reimbursements 100% of Wastewater - South Impact Fees for Rainbow Valley Water Reclamation Facility reimbursement 100% of Fire - South Impact Fees for Fire Station 186 reimbursement Westcor/Goodyear LLC: 50% of sales taxes collected in Goodyear Centerpoint and Market at Estrella Falls for infrastructure reimbursement. (Lauri Wingenroth, Finance Manager-Budget and Research)

What this record is

Held by

Newland Real Estate Group LLC

Amount

$500K

Runs until

no end date published in this record

Type

contract

Field

Utilities & energy

Read automatically from the title of the official record. The source document below is authoritative.

Committee

City Council Regular Meeting

Introduced

June 19, 2018

On agenda

July 2, 2018