HomeMy WebLinkAboutReso 1999-19660-'-- RESOLUTION NO. 19660
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING A TRANSPORTATION
DEVELOPMENT IMPACT FEE AGREEMENT BETWEEN ACI
SUNBOW, LLC AND THE CITY OF CHULA VISTA
WHEREAS, Council is updating and increasing the City's Transportation Development
Impact Fee Program (TDIF) on November 16, 1999 ("TDIF Amendment"); and
WHEREAS, part of that ordinance speaks to the process for reimbursement or credit against
fees once a developer has constructed or financed the construction of certain roadway improvements
included in the program; and
WHEREAS, the attached agreement is the authorization to convert a certain amount of
credits for such roadway construction from cash credits to equivalent dwelling unit (EDU) credits;
and
WHEREAS, the attached agreement shall not take effect unless and until 60 days after the
adoption of the TDIF Amendment; and
WHEREAS, Sunbow will be authorized for a credit of 886 EDU's which is equal to $3.54
million of cash value, at a rate determined by the difference between the TDIF rate in effect prior to
the TDIF Amendment and the new TDIF rate established by the TDIF ~nendment; and
WHEREAS, Sunbow either has or will be constructing TDIF eligible roadways including
Telegraph Canyon Road widening, Medical Center Drive, East Palomar Street, and helping to pay
for a portion of Olympic Parkway.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista
does hereby approve a Transportation Development Impact Fee Agreement between ACI Sunbow,
LLC and the City of Chula Vista, a copy of which is on file in the office of the City Clerk.
BE IT FURTHER RESOLVED that the Mayor of the City of Chula Vista is hereby
authorized and directed to execute said agreement for and on behalf of the City of Chula Vista.
Presented by Approved as to form by
Resolution 19660 ""'
Page 2
PASSED, APPROVED, and ADOPTED by the City Council of the City of Chula Vista,
California, this 16m day of November, 1999, by the following vote:
AYES: Councilmembers: Davis, Padilia, Salas and Horton
NAYS: Councilmembers: None
ABSENT: Councilmembers: Moot
Shirley Hor~6n, Mayor
ATTEST:
Susan Bigelow, City Clerk ~_~
STATE OF CALIFORNIA )
COUNTY OF SAN DIEGO )
CITY OF CHULA VISTA )
I, Susan Bigelow, City Clerk of Chula Vista, California, do hereby certify that the foregoing
Resolution No. 19660 was duly passed, approved, and adopted by the City Council at a regular
meeting of the Chula Vista City Council held on the 16m day of November, 1999.
Executed this 16m day of November, 1999. ~Za~C~L~E> ~
Susan Bigelow, City Clerku