HomeMy WebLinkAboutAgenda Statement 1988/01/12 Item 5COUNCIL AGENDA STATEMENT
• Item 5
Meeting Date 1/12/88
ITEM TITLE: Resolution /-3 ~~~ Approving agreements with George T.
Simpson, Willdan Associates, Brown and Diven, and Kadie-Jensen
and Johnson for consulting services to prepare a feasibility
analysis and implementation proyram for financing certain
public improvements to Telegraph Canyon Road pursuant to the
provisions of the "f~lunicipal Improvement Act of 1913" or the
"Community Facilities Act of 1982"; and, approving a
Reimbursement Agreement between the City and the Eastlake
Development Company
SUBMITTED BY: Director of Public Works
REVIEWED BY: City htanager~l~,~~,,~r~}/ (4/5ths Vote: Yes No X )
The Eastlake Development Company has requested the City to initiate
proceedings under the State 1913/15 Acts or Community Facilities Act of 1982
to finance the construction of certain improvements to Telegraph Canyon Road
from Paseo Ladera to Wueste Road in the City of Chula Vista.
• In addition, the Eastlake Development Company has signed an agreement to
advance funds to allow the City to pay for all initial consulting, City
administration, and appraisal expenses relating to the formation of a public
financing district.
RECOMMENDATION: Adopt the resolution.
BOARDS/COMMISSIONS RECOMMENDATION: {Jot applicable.
DISCUSSION:
The Eastlake Development Company desires to utilize public financing to the
extent permissible to finance the construction of the widening of segments of
Telegraph Canyon Road to provide a facility capable of providing the level of
service required to accommodate development in these areas. The construction
of the improvement will be phased over a period of time related to the amount
of development which occurs.
The final roadway will consist of a 6-lane prime arterial from Paseo Ladera
easterly to Hunte Parkway and a minimum 4-lane prime arterial easterly to
Wueste Road.
The Eastlake Development Company has requested the City to retain consultants
to investiyate the feasibility and to pursue the implementa tion of proceedings
for the use of public financing for the project. Eastlake has requested that
the City analy ze the applicability of both the 1913/15 Acts and Community
Facilities Act of 1982 under the f~iello-Roos legislation for financing the
• improvements. The consultants will make a recommendation and the City will
make t{ie final decision on which financing mechanism will be used.
Page 2, Item 5
• Meeting Date-TJT~7$~
The City and the tastLake Development Company propose to enter into a
Reimbursement Agreement whereby the developer agrees to advance $104,000 to
pay all costs relating to the formation of the financing district. Eastlake
will be reimbursed funds advanced f rom bond proceeds upon the successful
formation of a financing district.
Because of their familiarity with the area and demonstrated expertise in
financing public facilities, the Eastlake Development Company has requested,
and City staff recommends, the following team of consultants be retained to
implement the project: George T. Simpson, Project Manager, Brown and Diven,
Bond Counsel, Kadie-Jensen and Johnson, Financial Consultant, and Willdan
Associates, Assessment Engineer.
FISCAL IMPACT: None to the City. The Eastlake Development Company will
deposit $104,000 to fund initial consultant and City costs including an
appraisal of the property to be assessed.
WPC 3470E
~y the City Council of
Chula Visa, California
Dated
.~~ ~ _-0 ._