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HomeMy WebLinkAbout21- Public Works File No. 14.40-104 CITY OF SAN BERNf -IDINO REQUEST Fr l COUNCIL ACTION From: ROGER G. HARDGRAVE, Director Subject: Reimbursement Agreement --- Acquisition Assessment District for Construction Dept: Public Works/Engineering of New Pine Avenue. (AD 1015) Date: August 30, 1995 Synopsis of Previous Council action: 03-20-90 -- Authorization granted to execute Joint Development Agreement CFB Investments. 08-05-91 -- Authorization granted to execute First Addendum to Joint Development Agreement. 03-20-95 -- Resolution No. 95-71 adopted authorizing execution of Second Amendment to Joint Development Agreement. 08-07-95 -- Authorization to Proceed was given to initiate proceedings for the formation of an acquisition assessment district for the construction of New Pine Avenue and confirm the selection of Brown, Diven and Hentschke as legal consultant, and GFB-Friedrich & Associates as Assessment Engineer and City Administrator directed to pursue alternate means of financing. 09-05-95 -- Report from City Administrator on alternate means of financing and Resolution authorizing execution of agreements for consultant services adopted._ Recommended motion: ADQLT RESOLUTION cc: Shauna Clark, City Administrator James Penman, City Attorney Signature Barbara Pachon, Director of Finance Contact person: Les Fogassy Phone:_ 5026 Supporting data attached: Staff Report, Resolutions Ward: 5 FUNDING REQUIREMENTS: Amount: $1, 133,000._00 Construction Costs) Source: (Acct. No.) (Reimbursement through aSS ssment district . ) Acct. Description) Finance: Council Notes: Xe6 75-0262 a, _ Aaenda Item Nn CITY OF SAN BERNA _ �DINO - REQUEST FC ; COUNCIL ACTION STAFF REPORT The Second Addendum to the Joint Development Agreement, by and between CFB Investments, Redevelopment Agency and City of San Bernardino, was approved on 03-20-95. This addendum evidences a major change in the nature of the project from the originally approved 318 multi-family units to 42 single family units, pursuant to Tentative Tract No. 15642, approved by the Planning Commission on 05-16-95. By execution of the Second Addendum, both the RDA and City agreed to undertake certain actions to facilitate development of the 42 single family units. One action was to provide CFB with financial assistance for the cost of the new Pine Avenue infrastructure, in the amount of $1,133,000, from any source the City deems appropriate. Section 4.4.2 of the Second Addendum states that the City will obtain adequate interim financing and will cause to be formed an assessment district to finance the cost for new Pine Avenue. CFB agreed join and use its best efforts to cause the owners of the other two parcels, that will be traversed by new Pine Avenue, to consent to be included in the district. The three parcels are shown on the attached map, along with the proposed district boundary. Since the district is not large enough for the sale of bonds to be cost effective, it will be necessary for the City to advance the funds to finance the construction, and be reimbursed through assessments. One source of funding that was proposed was Sewer Maintenance Fund (132) . On 8-7-95, authorization was given to initiate the formation of the assessment district, and the selection of Brown,Diven and Hentschke for Legal Consultant and GFB - Friedrich and Associates for Assessment Engineer were also confirmed at that meeting. The City Administrator was directed to pursue other means of financing and bring back a report on 08-21-95. The item was continued to the September 5, 1995 Council Meeting. Also at that meeting a resolution authorizing execution of agreements with GFB - Friedrich for Assessment Engineering services, and an agreement with Brown, Diven and Hentschke for legal consulting services was adopted. The reimbursement agreement between the developer and the City provides that the City will advance up to $1,133,000 as needed to finance construction costs of New Pine Avenue, install traffic signals at Pine and Kendall, and complete proceedings for the assessment district. The developer will submit a deposit of $24,000 to cover all incidental expenses relative to the formation of the district. The deposit will be released once the district forms, or fails to form through no fault of the developer. The City will make progress payments to the developer during the construction of New Pine Avenue. These payments will be secured by a Deed of Trust- or other form of security acceptable to the City's Director of Finance, until the formation of the district is completed. The agreement also requires the developer to pre-pay the assessments on the 42 single family homes at the close of escrow for each house. Staff recommends approval and execution of the reimbursement agreements. 75-0264 r'or. Irvington Land a Water Co. -Sub. R S 1/32 a r 32 — —r— IRVINGTON W "� ` �✓o sic � O c' m w 1 AZ TREET � � v �,ti 20 a Q� ------- - -Z_ Q — ti lb, 6' ---4#GH WAY, 6 - - 03 6 , 2� _ � A C I T Y OF S A N B E R N A R D I N O Interoffice Memorandum TO: SHAUNA CLARK, City Administrator FROM: ROGER G. HARDGRAVE Director of Public Works/City Engineer SUBJECT: Correction of Item #21, October 16, 1995 Council Agenda DATE: October 12, 1995 FILE: 14.40-104 A Resolution authorizing the execution of an agreement between the City and CFB Investments, LTD. , and Empire and Associates, INC. , relative to the construction of New Pine Avenue and will appear as Item #21 on the Council Agenda for October 16, 1995. The owners recently formed a new entity and are now holding title to the land under the name of PINE AND CONNIFER.L.P. , a California limited partnership. The resolution needs to be amended at the Council Meeting. The motion needs state that the resolution is amended to change all references of CFB Investments, LTD (heading in resolution has CFG Investments, which is a typographical error) and Empire and Associates, INC. to PINE AND CONNIFER, L.P. , a limited partnership. The actual agreement has already been amended and copies delivered to the City Clerk's Office. Please call this office at x 5111 if you have any questions. ROGER G. HARDGRAVE, Director of Public Works /City Engineer L S FOGASSY Real Property Official l/f�ir �ts S