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.

Consent Item Passed Introduced February 15, 2024

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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