SR 05:340 - Laserfiche WebLink

If the Financing Program remains as "W'ritten, the City "W'ill be reimbursed earlier than in Options 2 or3. The unpaid amount, ho"W'ever, does accrue interest at 8% interest per annum. If Council chooses Option 1, staff does recommend that Financing Program #7 be amended to address Lots that are vacant and have been allocated only one ne"W' home to provide that the Specific Plan fees shall be paid at the time the first building permit is issued. If Council chooses Option 1, staff "W'ould also recommend that Financing Program #8 be amended by clarifYing that property o"W'ners of existing homes "W'ill pay the Specific Plan fees for all buildable lots allocated to the Lot at the time the Lot first files a subdivision map or "W'hen the property first connects to the "W'ater or se"W'er system, "W'hichever is earlier, recognizing that the Specific Plan fees for the existing homes ("W'hich fees cover only shared "W'ater, se"W'er and utility undergrounding costs) are less than the fees for ne"W'ly created lots. (Staff believes the "W'ording should be clarified because the terminology used is issuance of a building permit. Although connecting to the se"W'er or "W'ater system does involve the issuance of a building permit, most persons associate a building permit "W'ith a permit for the construction of a structure rather than connecting to the utility system.) Moreover, regardless of "W'hich Option Council chooses, staff is also recommending that Council direct staff to prepare an amendment to the Financing Program to remove the current inequity in the Program by "W'hich the City is last in line to be reimbursed. Unless precluded by an existing development agreement, the City should stand on equal footing "W'ith other funding developers. Option 2: ModifY the existing Program by def'erring payment of' the f'ees f'or Hillside Residential Lots that are not being created, and f'or existing residences 'W'here there is no subdivision but the home is connecting to the 'W'ater/se'W'er system, or are not connecting to the se'W'er and 'W'ater system at the same time. 1. Amendment to Finance Program #7 Another option for the Council to consider is to defer payment of the Specific Plan fees for Lots designated (in part) Hillside Residential if some or all of the buildable lots are not being created and/or to defer for existing homes payment of the Specific Plan fees for the buildable lots if the property o"W'ner is connecting to the "W'ater and se"W'er system but not subdividing and to defer a portion of the fees if the property o"W'ner is connecting to only the "W'ater or only to the se"W'er system. (In this latter case, the remainder of the Specific Plan fees "W'ould be paid "W'hen the other connection is made.) This is the option that staff is recommending. For Lots designated HillsidelLo"W' Density Residential/Open Space, the Specific Plan fees "W'ould be paid only for the buildable lots created by a subdivision map. In the Berlogar case, for example, the property o"W'ner "W'ould be required to pay the Specific Plan fees only for the nine buildable lots created by the subdivision map in the Lo"W' Density Residential portion of the Lot. The fees for the remaining five buildable lots allo"W'ed under the Plan "W'ould "W'ait until the Hillside Residential/Open Space portion is subdivided. SR:05:340 Page 5