SR 05:340 - Laserfiche WebLink

Staff is presenting three options for the Council to consider: 1. Retain the existing Program "W'ith only minor modifications; 2. ModifY the existing Program to defer payment of Specific Plan fees for buildable lots "W'ithin a Hillside Residential designation until those lots are created and, for property o"W'ners "W'ith existing structures, to require payment of Specific Plan fees at the time of the first connection to the shared infrastructure but only for the infrastructure improvements to "W'hich the property o"W'ner connects; 3. ModifY the existing Program as provided in No.2 above but require payment at the time of the building permit rather than the final map. Option 1: Retain the existing Program W'ith only minor modifications. Under the existing Program, all Specific Plan fees allocated to a Lot (other than a Lot "W'ith an existing home) are to be paid at the time the first final map is filed for City approval regardless of the number of lots actually being created. For Lots "W'ith existing homes, the Specific Plan fees are to be paid at the time of the first subdivision or at the time a building permit is issued for connection to the share infrastructure improvement ("W'ater, se"W'er), "W'hichever is earlier. As stated above, the purposes of these provisions "W'ere to create funding as early as possible to construct the Specific Plan infrastructure and to provide a source of funding to reimburse funding developers for those developers "W'ho constructed infrastructure in lieu of paying a fee, the cost of "W'hich "W'as greater than the developer's pro rata share. When the Specific Plan and Financing Program "W'ere approved, it "W'as not contemplated that the City "W'ould be a "funding developer" for other than certain improvements to the "W'ater system (e.g" a ne"W' "W'ater tank and pump station and, as to those improvements, it "W'as estimated that the cost "W'ould be about $2 million). Accordingly, the Program provides that the City "W'ill not be reimbursed for any expenses it incurs in installing shared infrastructure improvements using non-Specific Plan funds until all other developers have been reimbursed. Things, ho"W'ever, did not "W'ork out exactly as planned. The City has fronted about $3 million from non-Specific Plan sources and the "W'ater system improvements are no"W' estimated to cost $5 million. Accordingly, as the Program is currently "W'ritten, the City "W'ill be the last funding developer to be reimbursed, assuming that all the Lots "W'ithin the Specific Plan area develop (thus far, about 600/0 have developed). SR:05:340 Page 4