24-172
SUBJECT: Approval of Public Facilities Impact Fee Credit/Reimbursement Agreement with 2980 East Yosemite, LLC, for Improvements on Yosemite Avenue and Lake Road in the Amount of $727,523.68 REPORT IN BRIEF Considers approving Reimbursement of Public Facilities Impact Fees (PFFP) to 2980 East Yosemite, LLC in the amount of $727,523.68 for the cost of constructing a portion of roadway and installing a traffic signal on Yosemite Ave and Lake Road. RECOMMENDATION City Council - Adopt a motion: A. Approving the Public Facilities Impact Fee Credit/Reimbursement Agreement with 2980 East Yosemite, LLC for the work performed to install a traffic signal and roadway improvements on Yosemite Avenue and Lake Road; and, B. Approving a Supplemental Appropriation from the unreserved, unencumbered fund balance in Fund 3505 Facilities-Roadways Developer in the amount of $219,062.45, transfer to Fund 5005-Streets and Signals CIP and appropriating the same in Fund 5005, project CP240059; and, C. Approving a Supplemental Appropriation from the unreserved, unencumbered fund balance in Fund 3506 Facilities-Traffic Signal Developer in the amount of $508,461.23, transfer to Fund 5005-Streets and Signals CIP and appropriating the same in Fund 5005, project CP240059; and, D. Authorizing the Finance Officer to make the necessary budget adjustments; and, E. Authorizing the City Manager to execute all necessary documents.
What this record is
- Held by
- 2980 East Yosemite, LLC
- Amount
- $728K
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
- Field
- Construction
construction contracts in CA that end within a year →
Governments publish the end date in the award. That date is when the
work goes back out to bid, and it is usually stated years ahead.
Read automatically from the title of the official record. The source document below is authoritative.
- Committee
- City Council/Public Finance and Economic Development Authority/Parking Authority
- Requested by
- Engineering Department
- Introduced
- February 15, 2024
- On agenda
- March 4, 2024
- Passed
- March 4, 2024
Where it was heard
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