REPORT TO COUNCIL
SUBJECT
Title
Approve a Transportation/Traffic Impact Fee Reimbursement Agreement with Remington LLC for the Construction of Intersection Improvements at 1010 Sunnyvale Saratoga Road and Approve Budget Modification No. 51 to appropriate $417,831 to a New Project, Improvements at Sunnyvale Saratoga Road and Remington Drive.
Report
BACKGROUND
On November 27, 2017, the Planning Commission approved a Special Development Permit (#2017-7633) to allow the construction of an 18,600-square foot commercial building at the northeast corner of Sunnyvale Saratoga Road and Remington Drive for a child care center use.
Per the Conditions of Approval ("COA") EP-27 (Attachment 1 - Excerpt of COAs) associated with the Special Development Permit, Remington LLC ("Developer") was required to design and construct a right-turn lane at the northeast corner of Remington Drive and Sunnyvale Saratoga Road ("project"). This work includes widening the roadway on Remington Drive and a traffic signal modification at the intersection. The project was identified as an intersection improvement in the City of Sunnyvale Traffic Mitigation Program Study (Attachment 2 - List of Intersection Improvements Excerpt).
The development project is required to construct these intersection improvements prior to building occupancy on 1010 Sunnyvale Saratoga Road. These improvements are to be credited against the Traffic Impact Fees ("TIF" - also referred to as "Transportation Impact Fees") required of the Developer. The project's COAs stated that if the construction cost of the improvements exceeded the developers' TIF requirement, a reimbursement agreement would be completed to allow the City to reimburse the Developer.
EXISTING POLICY
Pursuant to Sunnyvale Charter Section 1305, at any meeting after the adoption of the budget, the City Council may amend or supplement the budget by motion adopted by affirmative votes of at least four members so as to authorize the transfer of unused bala...
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