REPORT TO COUNCIL
SUBJECT
Title
Approve a Transportation/Traffic Impact Fee Reimbursement Agreement with Christensen Holdings LP for Construction of Mathilda Avenue Median Improvements at 433 N. Mathilda Avenue and Approve Budget Modification No. 25 to appropriate $49,556 to a new Project, Improvements at Mathilda and Maude
Report
BACKGROUND
On November 19, 2013, City Council adopted the Mitigated Negative Declaration and approved the Special Development Permit (2013-7448) to construct two new office buildings on a 9.27 -acre site located at 433 N. Mathilda Ave.
Per the Conditions of Approval ("COA") EP-30 (See Attachment 1 - Excerpt of COAs) associated with the Special Development Permit, Christensen Holdings LP ("developer") was required to design and construct the extension of the double left turn lanes on northbound Mathilda Avenue to westbound Maude Avenue ("project"). Construction of the turn pocket modifications were done in coordination with existing City projects to add bicycle lanes along Mathilda and make traffic signal safety improvements at the intersection of Maude/Mathilda.
The development project was required to construct the extended turn pocket prior to occupancy of the first building on 433 N. Mathilda. These left turn pocket improvements were to be credited against the Traffic Impact Fees ("TIF" - also referred to as "Transportation Impact Fees") required of the developer. The project COA's stated that if the cost of the improvements exceeded the developers TIF requirement, a reimbursement agreement could be developed for Council consideration. TIF fees collected from the developer were $294,209.
During construction, it was determined there was additional construction required that was not part of the initial cost estimate. A reimbursement agreement approved by City Council is required for the City to pay for costs that exceed the TIF fees collected.
EXISTING POLICY
General Plan, Chapter 3, Land Use and Transportation
Policy LT-5.3: ...
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