HomeMy WebLinkAboutReso 2007-182
RESOLUTION NO. 2007-182
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CHULA VISTA APPROVING A TRANSFER OF $1.8 MILLION
FROM THE TRANSPORTATION DEVELOPMENT IMPACT
FEE (TDIF) FUND TO AN INTEREST EARNING DEPOSIT
ACCOUNT TITLED -SR125 TDIF REFUNDS, AND
ALLOWING FOR THE EXPENDITURE OF THE FUNDS IN A
MANNER CONSISTENT WITH THIS RESOLUTION
WHEREAS, the Interim SR-125 Development Impact Fee (SR-125 DIF) was established
by Ordinance No. 2579 in January 1994 to ensure that sufficient funds would be available to
construct a north-south transportation corridor should the SR-125 freeway not be constructed in
time to serve impending development; and
WHEREAS, in April 2004, the City Council adopted Ordinance No. 2959 tolling the SR-
125 DIF and amending Ordinance No. 2579, Section I (c), to authorize the expenditure of SR-
125 DIF fees on transportation enhancing projects or transportation programs related to SR-125;
and
WHEREAS, in May 2005, the City Council adopted Ordinance No. 3029 amending the
Transportation Development Impact Fee (TDIF) Program and Resolution 2005-156 transferring
the fund balance of the SR-125 DIF fund to the TDIF fund and approved two Traffic Demand
Management (TDM) programs, one of which includes the concept of toll reduction on SR-125;
and
WHEREAS, the City in conjunction with South Bay Expressway (SBX), the operator of
SR-125, would like to provide a TDM program in the form ofa SR-125 toll reduction incentive
program that is fair and equitable to Chula Vista property owners and the City would like to
maximize the resultant benefit by securing additional volume discounts from SBX, in order to
encourage users to utilize the SR-125 Toll Road; and
WHEREAS, the City Council has considered the method of refunding the excess
development impact fees collected and determined a reasonable method of refunding the fees
and authorizes the City Finance Department to allocate and disburse the fees in accordance with
staffs recommendation; and
WHEREAS, no Co\mcilmember, who is also a property owner in the area receiving the
DIF refund, shall receive such refund or participate in the refund program as described in the
City Council Agenda Statement.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula
Vista hereby approves a transfer of $ 1.8 million from the Transportation Development Impact
Fee to an interest earning Deposit Account titled - SRl25 TDIF Refunds, and allow for the
expenditure of funds in a manner consistent with this resolution.
Resolution No. 2007-182
Page 2
Presented by
Approved as to form by
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Scott Tulloch
Acting Assistant City Manager/City Engineer
~~~~\'"
Ann Moore
City Attorney
PASSED, APPROVED, and ADOPTED by the City Council of the City ofChula Vista,
California, this 17th day of July 2007 by the following vote:
AYES:
Councilmembers:
Castaneda, McCann, Ramirez, and Cox
NAYS:
Councilmembers:
None
ABSENT:
Councilmembers:
Rindone
Chory]~~
ATTEST:
~ ?L-t/.L '/ ~ L ~
Susan Bigelow, MMC, City Cler
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. 2007-182 was duly passed, approved, and adopted by the City Council at a
regular meeting of the Chula Vista City Council held on the 17th day of July 2007.
Executed this 17th day of July 2007.
- -:iJ.J,{ l ~/ f)"., ./
Susan Bigelow, MMC, Cit~C;1"