HomeMy WebLinkAboutReso. 1987 - 191 - Approving the agreement dated june 2, 1987 for reimbursement of development costs between the icty of redding and drake homes RESOLUTION NO. 87-/71
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDDING
APPROVING THE AGREEMENT DATED JUNE 2, 1987, FOR
REIMBURSEMENT OF DEVELOPMENT COSTS BETWEEN THE CITY OF
REDDING AND DRAKE HOMES, AND AUTHORIZING THE MAYOR TO SIGN
SAME.
IT IS HEREBY RESOLVED by the City Council of the City of
Redding as follows:
1 . That the City Council of the City of Redding hereby
approves the Agreement for reimbursement of development costs
between the City of Redding and Drake Homes, a true copy of which.
is attached hereto and incorporated herein; and
2. That the Mayor of the City of Redding is hereby
authorized and directed to sign said Agreement and all necessary
documents on behalf of the City of Redding, and the City Clerk is
hereby authorized and directed to attest the signature of the
Mayor and to impress the official seal of the City of Redding on
the aforesaid documents, when appropriate.
I HEREBY CERTIFY that the foregoing Resolution, was
introduced and read at a regular meeting of the City Council of
the City of Redding on the 16th day of June , 1987 , and was
duly adopted at said meeting by the following vote:
AYES: COUNCIL MEMBERS: Carter, Fulton, Gard, Johannessen, & Dahl
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
MIKE DAHL, Mayor
City of Redding
ATTEST: FOR2,APPROVED:
ETHEL A. NICHOLS, City Clerk NDALL A. HAYS, ity Attorney
1
. ' . .
AGREEMENT
Reimbursement of Development Costs
THIS AGREEMENT entered into this day of St,/'1l ,
1987 , by and between DRAKE HOMES, of 1350 East Lassen Avenue,
Suite 7, Post Office Box 1448 , Chico, California 95927, herein-
after referred to as "DEVELOPER, " and the CITY OF REDDING, a
Municipal Corporation and general law city, hereinafter referred
to as "CITY" :
WITNESSET H:
WHEREAS , DEVELOPER has constructed, at its own cost and
expense , a sanitary sewer line, the location and route of which
is shown on the diagram attached hereto as Exhibit "A" and
incorporated herein by reference, hereinafter called "the line";
and
WHEREAS, DEVELOPER wishes to deed the line to the CITY, and
CITY wishes to accept the same;
WHEREAS, Title 14 of the Redding Municipal Code authorizes
the CITY to reimburse DEVELOPER for its costs of construction of
the line from connection charges collected by the CITY from other
connectors to the line as such charges are required by the CITY
and paid at the time of subsequent connections; and
WHEREAS , this Agreement, when executed by all parties ,
replaces the Agreement for Reimbursement of Development Costs
• 111
entered into between the parties hereto dated October 24 , 1986,
approved by the City Council of CITY under Resolution No. 86-298;
NOW, THEREFORE, IT IS AGREED as follows;
1 . CITY shall reimburse DEVELOPER for its development
costs of construction of the sanitary sewer line, as set forth in
paragraphs 3B and 3C below, from the connection charges charged
to and collected from connectors to the line extension in
accordance with and subject to the provisions of Title 14 of the
Redding Municipal Code.
2. CITY reserves the right, at any time, to increase or
decrease the established rates for sewer connection charges; and
in the event of any such change in rates, reimbursement to the
DEVELOPER shall be in accordance therewith as to all subsequent
connections.
3. The total of the development costs that DEVELOPER is
out-of-pocket is the sum of $215, 254 . 80, of which:
A. The sum of $123, 811 . 20 is attributable to parcels
numbered 6 through 9 as shown in the shaded area on the
attached Exhibit "A, " Assessor' s Parcel Nos. 72-190-62,
63, 64 and 65 , owned by DEVELOPER (based on an
estimated development potential of said parcels of 240
units, calculated at $515. 88 per unit) . It is
understood and agreed by DEVELOPER that the CITY will
not collect DEVELOPER' s development costs of
$123 , 811 . 20 from subsequent connectors to parcels 6
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111 •
through 9, nor reimburse DEVELOPER for its developments
costs of $123, 811 . 20 attributable to parcels 6 through
9; that DEVELOPER will recoup said costs in its future
development and sale of said parcels 6 through 9.
B. The sum of $57, 657. 60 is eligible for reimbursement to
the DEVELOPER and is attributable to parcels numbered 2
through 4 as shown in the dotted area on the attached
Exhibit "A, " Assessor' s Parcel Nos. 72-180-07 ,
72-180-08 and 72-180-21 (based on an estimated
development potential of said parcels of 128 units,
calculated at $450. 45 per unit) .
C. The sum of $2, 623. 14 is eligible for reimbursement to
the DEVELOPER and is attributable to parcel 1 as shown
in the cross-hatched area on the attached Exhibit "A, "
Assessor' s Parcel No. 72-190-19 (based on an estimated
development potential of said parcel of 114 units ,
calculated at $23. 01 per unit) .
D. The sum of $29, 921. 04 is eligible for reimbursement to
the DEVELOPER and is attributable to Parcel 5 as shown
in the shaded area on - the attached Exhibit "A, "
Assessor' s Parcel No. 72-190-61 (based on an estimated
development potential of said parcel of 58 units,
calculated at $515 . 88 per unit) .
E. It is further understood and agreed by and between
DEVELOPER and CITY that the actual development
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. • •
potential of said parcels is not known by CITY at this
time, but that the amounts eligible for reimbursement
to the DEVELOPER for construction of the sewer line are
and will remain as set forth in 3B and 3C above,
namely:
(a) $57, 657. 60 attributable to parcels numbered 2
through 5 shown in the dotted area on the attached
Exhibit "A, " Assessor' s Parcel Nos. 72-180-07,
72-180-08 and 72-180-21;
(b) $2, 623. 14 attributable to parcel 1 as shown in the
cross-hatched area on the attached Exhibit "A, "
Assessor' s Parcel No. 72-190-19;
(c) $29, 921. 04 attributable to Parcel 5 as shown in
the shaded area on the attached Exhibit "A, "
Assessor' s Parcel No. 72-190-61 ; and
that the sum of $153 , 732. 24 is and will remain
attributable to the parcels owned by DEVELOPER as set
forth in paragraph 3A above.
4 . The term of this Agreement shall be for a period of ten
(10) years, commencing on the date hereof. Any connection
charges collected by the CITY from the owners of the real
property described as Assessor' s Parcels numbered 72-180-07,
72-180-10 , 72-180-21 , 72-190-19 and 72-190-61 , as shown on
Exhibit "A" attached hereto, after the expiration of the term of
this Agreement shall not be reimbursable to DEVELOPER.
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5. This Agreement shall be binding upon and inure to the
benefit of the successors and assigns of the parties hereto.
6. It has been determined that this matter is not subject
to the provisions of the California Environmental Quality Act.
IN WITNESS WHEREOF, the parties hereto have executed this
Agreement on the day and year first above written.
CITY OF REDDING : d :!M! l.d
11
MIKE DAHL, Mayor
By: - -LA
ATTEST:
ETHEL A. NICHOLS, City Clerk
FORM APPROVED:
RANDALL A. HAYS, City Attorney
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