26-520

SUBJECT: Approval of Public Facilities Impact Fee Credit/Reimbursement Agreement with Stonefield Home, Inc. for improvements on M Street and M Street Circle REPORT IN BRIEF Considers approving Reimbursement of Public Facilities and Impact Fees (PFFP) to Stonefield Home, Inc. in the amount of $114,125.00 for the cost of restriping and minor street modifications to M Street and M Street Circle to complete the one-way direction of M Street Circle. RECOMMENDATION City Council - Adopt a motion: A. Approving the Public Facilities Impact Fee Credit/Reimbursement Agreement with Stonefield Home, LLC for the work of restriping and minor street modifications to M Street and M Street Circle; and, B. Approving a supplemental appropriation from the unreserved, unencumbered fund balance in Fund 3505 Facilities-Roadways Developer Fees in the amount not to exceed $114,125.00, transferring to Fund 5005-Streets and Signals CIP, and appropriating the same in Fund 5005, Project CP270048; and, C. Authorizing the Finance Officer to make the necessary budget adjustments; and, D. Authorizing the City Manager to execute all necessary documents.

Action Items Agenda Ready Introduced June 4, 2026

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Committee: City Council/Public Finance and Economic Development Authority/Parking Authority
Requested by: Engineering Department
Introduced: June 4, 2026
On agenda: July 20, 2026