Report Prepared by: Kim Espinosa, Planning Manager, Development Services Department
Title
SUBJECT: Reimbursement Agreement With Virginia Smith Trust for City Staff Work Relating to Proposed Development Located South of the UC Merced Campus and East of Lake Road
REPORT IN BRIEF
Considers the approval of a Reimbursement Agreement with the Merced County Board of Education acting as Trustee for the Virginia Smith Trust (VST) for City staff work related to their proposed development east of Lake Road, south of the UC Merced Campus.
RECOMMENDATION
City Council - Adopt a motion:
A. Approving a Reimbursement Agreement with the Merced County Board of Education acting on behalf of the Virginia Smith Trust (VST), in the amount of $110,000 to cover the costs associated with the VST development project; and,
B. Approving an increase in revenue in the amount of $110,000 to Account 017-0804-331.01-11-Special Services/Cost Recovery and appropriating the same in Fund 017-Development Services; and,
C. Authorizing the City Manager or the Assistant City Manager to execute the agreement; and,
D. Authorizing the Finance Officer to make the necessary budget adjustments.
Body
ALTERNATIVES
1. Approve as recommended by staff; or,
2. Approve, subject to modifications by the City Council; or,
3. Deny; or,
4. Refer back to staff for reconsideration of specific items (specific items to be addressed in the motion); or,
5. Continue to a future meeting (date and time to be specified in motion).
AUTHORITY
Merced City Charter, Section 200.
CITY COUNCIL PRIORITIES
"Future Annexations/Growth of the City" is included in the FY 20-21 City Council Goals and Priorities.
DISCUSSION
Background
The Merced County Board of Education acts as the trustee for the Virginia Smith Trust (VST). VST is proposing to develop approximately 656 acres east of Lake Road, south of the UC Merced Campus. (See Attachments 1 and 2 for a location map and project description provided by the Develope...
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