HomeMy WebLinkAbout19- Public Works CITY OF SAN BERNARDINO - REQUEST FOR COUNC_ AC'
File Nc 20.02-1
Set Public H-ari-na - Adjustnent
From: ROGER G. HARDGRAVE Subject: of Verdemont Area Infrastructure
Dept: Public Works
Fee from $7 . 699 to $1 ,500
Date: 1-18-95
Synopsis of Previous Council action:
12-04-89 - Ordinance MC 690 adopted levying an infrastructure.
01-03-90 - Ordinance MC 695 adopted extending effective date of
Ordinance MC 690 .
01-03-90 - Resolution 90-2 adopted. r���,_s'_ng the amount of an
infrastructure fee to be l��vie,d.
06-25-90 - Resolution 90-253 ,�?� �'-��'. revising the amount of the
infrastructure fee to be levied, from $7 , 375 to $6 ,068
due to deletion ` water system.
01-07-91 - Resolution 91. 01 adopted revising the amount of the in-
frastrunt:un� to be levied, from $6 , 068 to $6 ,976 .
03-02-92 - Resolu'-4.-r. 02--87 adopted revising the amount of the
infrastructure fee to be levied, from $6 , 976. to $7 , 699 .
Recommended motion:
That a public hearing be set at 10: 00 a.m. , for the regular
scheduled Council meeting of 2-20-95 , to consider adjustment of the
Verdenont Area Infrastructure Fee fron $7 , 699 to $1 , 500.
cc: Shauna Clark
Jim Penman
-O91Y . "'F ICEJ Barbara Pachon
Signature
Contact person: Gene R. Klatt Phone: 5125
Supporting data attached: Staff Report Ward: 5
FUNDING REQUIREMENTS: Amount: N/A
Source: (Acct. No.)
(Acct. Description)
Finance:
Council Notes:
75-0262 Agenda Item No.
Z-G `fS-
CITY OF SAN BERF" 1RDINO - REQUEST 1R COUNCIL ACTION
STAFF REPORT Page 1 of 2
In response to concerns of residents, relative to the
lack of certain infrastructure items within the street rights-of-
way, a Verdemont Area Infrastructure Fee was adopted in December,
1989 . The purpose of this fee was to provide advance funding to
finance the construction of critically needed street infrastruc-
ture improvements. Provision was also made for financing public
improvements , as identified by the Mayor and Council.
The fee was initially set at $6 , 068 per equivalent
dwelling unit, with projected annual increases of 15% for the
first three (3) years, and 10% for the next two (2) years.
Construction of the critically needed street improvements
has been accomplished, through Assessment District No. 987 and
revenue received from the Verdemont Infrastructure Fee. The
majority of the revenue was generated through Community
Facilities District No. 995 , that included seven (7) properties.
Community Facilities District No. 995 has experienced a
significant number of defaults. A refinancing plan has been de-
veloped, in order to relieve the home owners from having to pay
additional taxes. However, the undeveloped parcels will be
required to pay the Verdemont Infrastructure Fee upon develop-
ment.
The owners of the undeveloped properties in the Verdemont
Area have requested that the fee be reduced, in order to
stimulate development. Since the critically needed items of
infrastructure have been constructed, we concur with this
request.
A developer is entitled to be reimbursed, for actual
costs incurred for installing street improvements on the major
streets, under the current program. Reimbursements are paid from
the Verdemont Infrastructure Fee Fund. No provisions will be made
for reimbursements under the reduced fee.
iSince the critically needed street improvements have been
completed, we concur with the property owners ' request to reduce
the fee. We recommend that the fee be reduced to $1 ,500 , and be
used to finance public improvements, as determined by the Mayor
and Council, through the Capital Improvement Program.
It is estimated that the adjusted fee will generate an
amount of $3 ,750 , 000 . 00 in revenue, upon build out of the
Verdemont Area.
We recommend that a public hearing be set for the regular scheduled
Council Meeting of 2-20-95 .
1-19-95
75.0264