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THE CITY OF L~~S~NTONo 11 CITY COUNCIL AGENDA REPORT March 18, 2008 Department of Public Works TITLE: REIMBURSEMENT AGREEMENTS PONDEROSA HOMES BETWEEN THE CITY AND SUMMARY Ponderosa Homes installed a storm drain line that serves its Ironwood development (off Busch Road) and was sized to benefit other properties, including the City's Operations Services Center. Ponderosa also installed a water line that was upsized at the City's request to serve other development. The attached agreements will enable Ponderosa to be reimbursed by other property owners who will benefit by these improvements. The City will reimburse Ponderosa $50,000 for its share of the storm drain line and $64,963 for upsizing the water line. RECOMMENDATION 1. Authorize the City Manager to sign the attached Reimbursement Agreements. 2. Authorize appropriation of $50,000 from the Storm Drain Capital Improvement Fund to pay the City's share of the storm drain line reimbursement to Ponderosa Homes. FINANCIAL STATEMENT The majority of funding for the water line upsizing reimbursement will be provided by monies remaining in the 2004 water quality improvement project ($60,424), and the rest will come from the 2006 water quality improvement project ($4,539). Funding for the storm drain line reimbursement will be provided through the appropriation of $50,000 from the Storm Drain Capital Improvement Fund.