Report Prepared by: Joe Cardoso, P.L.S., City Surveyor, Engineering Department
Title
SUBJECT: Approval of Public Facilities Impact Fee Credit/Reimbursement Agreement with Stonefield Home, Inc. for improvements on M Street and M Street Circle
REPORT IN BRIEF
Considers approving Reimbursement of Public Facilities and Impact Fees (PFFP) to Stonefield Home, Inc. in the amount of $114,125.00 for the cost of restriping and minor street modifications to M Street and M Street Circle to complete the one-way direction of M Street Circle.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving the Public Facilities Impact Fee Credit/Reimbursement Agreement with Stonefield Home, LLC for the work of restriping and minor street modifications to M Street and M Street Circle; and,
B. Approving a supplemental appropriation from the unreserved, unencumbered fund balance in Fund 3505 Facilities-Roadways Developer Fees in the amount not to exceed $114,125.00, transferring to Fund 5005-Streets and Signals CIP, and appropriating the same in Fund 5005, Project CP270048; and,
C. Authorizing the Finance Officer to make the necessary budget adjustments; and,
D. Authorizing the City Manager to execute all necessary documents.
Body
ALTERNATIVES
1. Approve the request as recommended by staff; or,
2. Deny the request; or,
3. Approve, subject to modifications as conditioned by Council; or,
4. Refer back to staff for reconsideration of specific items (specific items to be addressed in City Council motion); or,
5. Continue to a future City Council meeting (date and time to be specified in City Council motion).
AUTHORITY
Chapter 17.62 of the Merced Municipal Code and Policy A32 (Attachment 1) of the City Administrative Policy and Procedures deal with the Public Facility Impact Fee program including eligibility for credit or reimbursement.
Merced Municipal Code Section 17.62.060 - Developer construction of facilities:
"Except as may otherwise be provided by development ...
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